Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Consolidated Financial Results for the First Half of FY2026 [J-GAAP]
Listed company name: NIPPN CORPORATION
Listing: The Prime Market of the Tokyo Stock Exchange
Code number: 2001
URL https://www.nippn.co.jp/en/index.html
Representative: Toshiya Maezuru, President and CEO
Contact: Hideaki Kataoka, General Manager of Corporate Communications Div.
TEL +81-3-3511-5307
Scheduled date for submission of the semiannual securities report November 10, 2025 Start of cash dividend payments December 3, 2025
Supplementary materials prepared: Yes
Results information meeting held: Yes (for institutional investors and analysts)
(November 7, 2025)
*Amounts less than one million yen have been rounded down.
Consolidated financial results for the first half of FY2026 (From April 1, 2025 to September 30, 2025)
Consolidated operating results (cumulative)
(Millions of yen, percentage figures show the rate of change from the same period of the previous year.)
Net Sales
Operating Income
Ordinary Income
Profit Attributable to Owners of Parent
First half of FY2026
207,903
1.5%
10,855
3.1%
12,130
0.3%
9,269
(34.0)%
First half of FY2025
204,909
3.0%
10,524
(4.6)%
12,092
(3.6)%
14,039
65.4%
(Note) Comprehensive income: First half of FY2026 ¥12,671 million [(31.4%)] First half of FY2025 ¥18,467 million [5.4%]
Profit per Share (Yen)
Fully Diluted Profit per Share (Yen)
First half of FY2026
112.20
107.66
First half of FY2025
179.96
156.96
Consolidated financial position (Millions of yen)
Total Assets
Net Assets
Equity Ratio
First half of FY2026
421,508
272,506
62.9%
FY2025
399,226
246,484
60.7%
(Reference) Equity capital: First half of FY2026 ¥265,337 million FY2025 ¥242,140 million
Dividends
Dividends per Share (Yen)
1Q-end
2Q-end
3Q-end
Year-end
Full Year
FY2025
-
33.00
-
33.00
66.00
FY2026
-
33.00
FY2026 (Forecast)
-
33.00
66.00
(Note) Adjustment for the most recent forecast of the dividends in the current term: None
Forecast of consolidated financial results for FY 2026 (From April 1, 2025 to March 31, 2026)
(Millions of yen, percentage figures show the rate of changes from the same period of the previous year.)
Net Sales | Operating Income | Ordinary Income | Profit Attributable to Owners of Parent | Profit per Share (Yen) | |||||
Full Year | 424,000 | 3.2% | 21,500 | 0.1% | 24,500 | 0.4% | 20,200 | (18.4)% | 258.80 |
(Note) Adjustment for the most recent forecast of the consolidated financial results in the current term: None
Notes
Significant changes in the scope of consolidation during the current quarter: Yes New 1 company (company name) HATANAKA FOODS Co., Ltd.
Adoption of special accounting methods for preparation of quarterly consolidated financial statements: None
Changes in accounting policies, accounting estimates, and retrospective restatements
Changes in accounting policies due to revisions of accounting standards : None
Changes other than 1) : None
Changes in accounting estimates : None
Retrospective restatements : None
Number of shares issued and outstanding (common stock)
1) Number of shares outstanding at the end of
each period (including treasury shares):
First half of
FY2026
84,727,163
shares
FY2025
78,824,009
shares
2) Number of treasury shares at the end of each
period:
First half of
FY2026
510,069
shares
FY2025
771,273
shares
3) Average number of shares (quarterly
consolidated cumulative period):
First half of
FY2026
82,617,156
shares
First half of
FY2025
78,010,600
shares
(Note) The number of treasury shares at the end of the period includes our shares (219,500 shares at the end of the first half of FY2026, 225,900 shares at the end of FY2025) held by Custody Bank of Japan, Ltd. (Trust E Account). The number of treasury shares deducted in calculating the average number of shares during the period includes the Company's shares of 222,700 shares at the end of the first half of FY2026 and 235,300 shares at the end of the first half of FY2025) held by Custody Bank of Japan, Ltd. (Trust E Account).
These consolidated financial results for the first half are outside the scope of review by certified public accountants or an audit corporation.
Explanation regarding the appropriate use of projected financial results and other special instructions
Descriptions regarding the future, including the financial outlook contained in this material, are based on certain information
currently available to us and particular assumptions, which are, at our discretion, deemed reasonable, and actual financial results may significantly vary due to various factors. Please refer to "1. Qualitative Information on Quarterly Consolidated Financial Results (3)
Information on forecast of the consolidated financial results" on page 5 for information on preconditions underlying the above outlook and other related information.
Contents
-
Qualitative Information on Quarterly Consolidated Financial Results ....................................................................... 2
- Overview of business results ...................................................................................................................................... 2
- Overview of financial position .................................................................................................................................... 4
- Information on forecast of the consolidated financial results................................................................................... 5
-
Quarterly Consolidated Financial Statements and Primary Notes .............................................................................. 6
- Quarterly consolidated balance sheets ...................................................................................................................... 6
- Quarterly consolidated statements of income and comprehensive income ............................................................ 8 (Quarterly consolidated statements of income) ..................................................................................................... 8 (Quarterly consolidated statements of comprehensive income) ........................................................................... 9
- Quarterly consolidated statements of cash flows 10
- Notes on quarterly consolidated financial statements 12
-
Qualitative Information on Quarterly Consolidated Financial Results
-
Overview of business results
(Millions of yen)
First six months of Fiscal 2025
First six months of Fiscal 2026
Difference
Change
Net sales
204,909
207,903
2,994
101.5%
Operating income
10,524
10,855
330
103.1%
Ordinary income
12,092
12,130
37
100.3%
Profit attributable to owners of parent
14,039
9,269
(4,769)
66.0%
During the first six months of the fiscal year ending March 31, 2026, the Japanese economy has continued to gradually recover against the background of factors such as improvements in the income environment. On the other hand, it is expected that uncertain circumstances will continue in the future, due to the persistent inflation, the labor shortages, and the unstable international situation, such as the trends in the international trade policy of the United States.
In the food industry, we continued to pay close attention to the impact on our business environment of factors, such as high raw material prices and logistics costs, and consumer inclination toward spending less due to the inflation.
In these circumstances, we are striving to continuously improve our corporate value based on the management philosophy of "Contributing to the realization of a sustainable society by pursuing the wellbeing (happiness, health, and smiles) of people."
During the first six months of fiscal 2026, as an effort to strengthen our earning capacity, we thoroughly implemented "consumer-based marketing" in all business areas including not only the home use food product category but also the professional use food product category, and we worked to expand our revenue by further raising our brand awareness.
In addition, as an effort to expand our growth areas, we included HATANAKA FOODS Co., Ltd. as a consolidated subsidiary in April 2025, and commenced construction of a new plant for frozen foods, in order to enhance our supply system in the light of growth of the demand for frozen foods.
Further, the plant constructed by Utah Flour Milling, LLC ("Utah Flour Milling"), in which we have invested, has commenced full-scaled operations. We will work to expand the sales channels in the U.S. market and supply more competitive products, by combining Utah Flour Milling's U.S. flour milling know-how and our manufacturing and operating management expertise.
For the consolidated financial results in the first six months of fiscal 2026, net sales increased by 1.5% year-on-year to ¥207,903 million due to factors such as the expansion of inbound tourism consumption, sales promotion based on the marketing strategy, as well as price revisions implemented due to various rising costs. In terms of profit, despite an increase in various costs, including raw material costs, personnel costs and logistics costs in each business, due to steady sales, operating income increased by 3.1% year-on-year to
¥10,855 million and ordinary income increased by 0.3% year-on-year to ¥12,130 million. On the other hand, due to extraordinary gains from the sale of idle land in the previous year, profit attributable to owners of parent decreased by 34.0% year-on-year to ¥9,269 million.
The performance of individual business segments was as follows.
-
Flour Milling
(Millions of yen)
First six months of Fiscal 2025
First six months of Fiscal 2026
Difference
Change
Net sales
60,483
60,303
(179)
99.7%
Operating income
4,374
4,677
303
106.9%
In the Flour Milling business, although sales remained steady, due to the impact of the price revision for wheat flour following the reduction of the government selling price of foreign wheat in October last year, net sales decreased by 0.3% year-on-year to ¥60,303 million, and operating income increased by 6.9% year-on-year to ¥4,677 million.
Due to the revision of the government selling price of foreign wheat in April this year and rising costs such as logistics and personnel costs, we have revised the price of wheat flour for professional use in July this year.
-
Food
(Millions of yen)
First six months of Fiscal 2025
First six months of Fiscal 2026
Difference
Change
Net sales
119,620
122,203
2,582
102.2%
Operating income
4,900
4,875
(24)
99.5%
In the professional use food product category, net sales increased year-on-year, due to factors, such as the expansion of inbound tourism consumption and the steady sales of the Overseas business.
In the home use food product category, net sales decreased year-on-year, due to consumer's stronger inclination toward spending less, despite sales promotion based on our marketing initiatives increased the sales volume of "Chewy and Delicious Spaghetti" series and helped maintaining steady sales volume of frozen food products such as "One Plate Meal" series and "Trendy Meal" series, which are ready to be served in a tray and can be used as a complete meal by itself.
In the Nakashoku (Ready-made meal) business, net sales increased year-on-year due to steady sales and implementation of price revisions following the rising costs such as raw material costs.
As a result, net sales of the Food Business increased by 2.2% year-on-year to ¥122,203 million, and operating income decreased by 0.5% year-on-year to ¥4,875 million.
-
Other
(Millions of yen)
First six months of Fiscal 2025
First six months of Fiscal 2026
Difference
Change
Net sales
24,804
25,396
591
102.4%
Operating income
1,295
1,294
(1)
99.9%
In the Pet Food business, net sales increased year-on-year, due to sales volume growth, etc.
In the Food Service business, net sales increased year-on-year, due to strong sales and price revisions implemented in the current fiscal year.
As a result, net sales of the Other businesses increased by 2.4% year-on-year to ¥25,396 million, and operating income decreased by 0.1% year-on-year to ¥1,294 million.
-
Flour Milling
-
Overview of financial position
-
Assets, liabilities and net assets
(Millions of yen)
As of March 31, 2025
As of September 30, 2025
Difference
Current assets
159,014
163,761
4,747
Non-current assets
240,210
257,746
17,535
Deferred assets
1
-
(1)
Total assets
399,226
421,508
22,281
Current liabilities
104,407
77,779
(26,628)
Non-current liabilities
48,334
71,222
22,887
Total liabilities
152,742
149,001
(3,740)
Total net assets
246,484
272,506
26,022
Total liabilities and
net assets
399,226
421,508
22,281
Total assets at the end of the first half of fiscal 2026 increased by ¥22,281 million from the previous fiscal year-end (March 31, 2025) to ¥421,508 million. This was mainly because property, plant and equipment; investment securities; merchandise and finished goods; intangible assets; cash and deposits, increased by
¥8,188 million, ¥6,298 million, ¥3,158 million, ¥1,515 million, and ¥1,218 million, respectively.
Total liabilities decreased by ¥3,740 million from the previous fiscal year-end to ¥149,001 million. This was mainly because long-term loans payable, other non-current liabilities, other current liabilities, and short-term loans payable increased by ¥19,992 million, ¥2,358 million, ¥1,268 million, and ¥884 million, respectively, and convertible bond-type bonds with subscription rights to shares, and notes and accounts payable - trade decreased by ¥25,002 million, and ¥3,851 million, respectively.
Total net assets increased by ¥26,022 million from the previous fiscal year-end to ¥272,506 million. This was mainly because retained earnings, capital surplus, capital stock, unrealized holding gain (losses) on securities, and non-controlling interests increased by ¥6,681 million, ¥6,485 million, ¥6,430 million, ¥4,627 million, and ¥2,842 million, respectively.
-
Cash flows
(Millions of yen)
First six months of FY2025
First six months of FY2026
Difference
Cash flows from operating activities
6,585
9,000
2,415
Cash flows from investing activities
(3,307)
(13,496)
(10,188)
Cash flows from financing activities
(5,046)
5,378
10,424
Effect of exchange rate changes on cash
and cash equivalents
356
(463)
(820)
Net increase (decrease) in cash and cash
equivalents
(1,411)
418
1,830
Cash and cash equivalents at end of
period
39,316
41,890
2,574
The balance of cash and cash equivalents at the end of the first half of fiscal 2026 stood at ¥41,890 million, an increase of ¥418 million compared with the previous fiscal year-end. The conditions of cash flows were as follows.
(Cash flows from operating activities)
Net cash provided by operating activities amounted to ¥9,000 million (compared to ¥6,585 million in the same period of the previous year). This mainly reflected ¥13,684 million for profit before income taxes,
¥5,257 million for depreciation, ¥4,156 million for income taxes paid, ¥3,872 million for increase in inventories, and ¥3,174 million for decrease in notes and accounts payable - trade.
(Cash flows from investing activities)
Net cash used in investing activities amounted to ¥13,496 million (compared to ¥3,307 million in the same period of the previous year). This mainly reflected ¥1,895 million for proceeds from sale and redemption of investment securities, ¥1,743 million for proceeds from purchase of shares of subsidiaries resulting in change in scope of consolidation, ¥13,007 million for purchase of fixed assets, and ¥2,000 million for purchase of securities.
(Cash flows from financing activities)
Net cash provided by financing activities amounted to ¥5,378 million (compared to net cash used in financing activities of ¥5,046 million in the same period of the previous year). This mainly reflected ¥11,600 million for redemption of convertible bond-type bonds with subscription rights to shares, ¥2,588 million for cash dividends paid, and ¥21,300 million for proceeds from long-term loans payable.
-
Assets, liabilities and net assets
-
Information on forecast of the consolidated financial results
For the full year, the forecast of the consolidated financial results announced on May 13, 2025 has been unchanged.
With regard to dividends, we plan to pay total cash dividends of ¥66 per share for the full year ending March 31, 2026, unchanged from the forecast.
-
Overview of business results
-
Quarterly Consolidated Financial Statements and Primary Notes
-
Quarterly consolidated balance sheets
(Millions of yen)
FY2025
(As of March 31, 2025)
First six months of FY2026 (As of September 30, 2025)
Assets
Current assets
Cash and deposits
44,945
46,163
Notes and accounts receivable - trade and contract
assets
58,128
56,971
Merchandise and finished goods
26,626
29,785
Work in process
109
639
Raw materials and supplies
22,687
22,994
Other current assets
6,542
7,230
Allowance for doubtful accounts
(25)
(23)
Total current assets
159,014
163,761
Non-current assets
Property, plant and equipment
Buildings and structures, net
48,537
47,776
Machinery, equipment, and vehicles, net
23,099
22,363
Land
45,862
46,274
Construction in progress
13,022
22,421
Other, net
3,890
3,764
Total property, plant, and equipment
134,412
142,600
Intangible assets
Goodwill
809
2,204
Other
1,213
1,334
Total intangible assets
2,023
3,538
Investments and other assets
Investment securities
85,530
91,828
Other
18,517
20,037
Allowance for doubtful accounts
(271)
(257)
Total investments and other assets
103,775
111,607
Total non-current assets
240,210
257,746
Deferred assets
1
-
Total assets
399,226
421,508
(Millions of yen)
FY2025
(As of March 31, 2025)
First six months of FY2026 (As of September 30, 2025)
Liabilities
Current liabilities
Notes and accounts payable - trade
34,279
30,428
Short-term loans payable
17,341
18,226
Current portion of convertible bond-type bonds
with subscription rights to shares
25,002
-
Income taxes payable
3,998
4,051
Provision for bonuses
961
979
Other
22,824
24,093
Total current liabilities
104,407
77,779
Non-current liabilities
Long-term loans payable
14,685
34,678
Retirement benefit liabilities
3,641
4,194
Accrued retirement benefits for directors
361
329
Provision for share awards for directors (and other
officers)
102
118
Other
29,543
31,901
Total non-current liabilities
48,334
71,222
Total liabilities
152,742
149,001
Net assets
Shareholders' equity
Capital stock
12,240
18,670
Capital surplus
9,758
16,244
Retained earnings
170,683
177,364
Treasury shares
(1,183)
(751)
Total shareholders' equity
191,499
211,528
Accumulated other comprehensive income
Unrealized holding gain (loss) on securities
41,317
45,944
Deferred gain (loss) on hedges
(23)
15
Foreign currency translation adjustments
5,148
3,845
Retirement benefit liability adjustments
4,199
4,003
Total accumulated other comprehensive income
50,641
53,809
Subscription rights to shares
115
98
Non-controlling interests
4,227
7,070
Total net assets
246,484
272,506
Total liabilities and net assets
399,226
421,508
-
Quarterly consolidated statements of income and comprehensive income (Quarterly consolidated statements of income)
(Quarterly consolidated statements of comprehensive income)
(Millions of yen)
First six months of FY2025 (From April 1, 2024 to
September 30, 2024)
First six months of FY2026 (From April 1, 2025 to
September 30, 2025)
Net sales
204,909
207,903
Cost of sales
155,644
155,695
Gross profit
49,264
52,208
Selling, general and administrative expenses
38,740
41,353
Operating income
10,524
10,855
Non-operating income
Interest income
63
307
Dividend income
1,132
1,318
Other
632
277
Total non-operating income
1,828
1,903
Non-operating expenses
Interest expenses
120
237
Share of loss of entities accounted for using equity
method
19
186
Other
120
204
Total non-operating expenses
260
628
Ordinary income
12,092
12,130
Extraordinary income
Gain on sale of fixed assets
8,465
1
Gain on sale of investment securities
89
1,753
Total extraordinary income
8,554
1,754
Extraordinary expenses
Loss on sale and disposal of fixed assets
44
35
Loss resulting from disaster
-
113
Loss of valuation of investment securities
72
-
Other
13
50
Total extraordinary expenses
131
200
Profit before income taxes
20,515
13,684
Income taxes - current
5,692
4,064
Income taxes - deferred
566
131
Total income taxes
6,259
4,195
Profit
14,256
9,488
Profit attributable to non-controlling interests
217
218
Profit attributable to owners of parent
14,039
9,269
(Millions of yen)
First six months of FY2025 (From April 1, 2024 to
September 30, 2024)
First six months of FY2026 (From April 1, 2025 to
September 30, 2025)
Profit
14,256
9,488
Other comprehensive income (loss)
Unrealized holding gain (loss) on securities
2,706
4,641
Deferred gain (loss) on hedges
(85)
40
Foreign currency translation adjustments
1,127
(1,007)
Retirement benefit liability adjustments
(101)
(195)
Share of other comprehensive income of entities
accounted for using equity method
564
(295)
Total other comprehensive income (loss)
4,211
3,182
Comprehensive income
18,467
12,671
(Comprehensive income attributable to)
Comprehensive income attributable to owners of
parent
18,244
12,436
Comprehensive income attributable to non-controlling
interests
223
234
-
Quarterly consolidated statements of cash flows
(Millions of yen)
First six months of FY2025 (From April 1, 2024 to
September 30, 2024)
First six months of FY2026 (From April 1, 2025 to
September 30, 2025)
Cash flows from operating activities
Profit before income taxes
20,515
13,684
Depreciation
5,250
5,257
Increase (decrease) in allowance for doubtful accounts
(13)
(19)
Interest and dividend income
(1,195)
(1,625)
Interest expenses
120
237
Loss (gain) on sale of investment securities
(99)
(1,764)
Loss (gain) on valuation of investment securities
72
-
Equity in (earnings) losses of unconsolidated
subsidiaries and affiliates
19
186
Foreign exchange losses (gains)
(187)
78
Loss (gain) on sale of fixed assets
(8,455)
7
Loss on disposal of fixed assets
43
32
Loss resulting from disaster
-
113
Decrease (increase) in notes and accounts receivable -
trade
2,495
938
Decrease (increase) in inventories
(6,223)
(3,872)
Increase (decrease) in notes and accounts payable -
trade
1,839
(3,174)
Other
(1,442)
1,588
Subtotal
12,739
11,666
Interest and dividend income received
1,224
1,647
Interest expenses paid
(113)
(157)
Income taxes paid
(7,265)
(4,156)
Cash flows from operating activities
6,585
9,000
Cash flows from investing activities
Decrease (increase) in time deposits
(8)
(959)
Purchase of securities
(4,030)
(2,000)
Proceeds from sale and redemption of securities
4,029
-
Purchase of investment securities
(755)
(162)
Proceeds from sale and redemption of investment
securities
153
1,895
Purchase of fixed assets
(9,302)
(13,007)
Proceeds from sale of fixed assets
8,254
12
Payments of loans receivable
(1,579)
(968)
Collection of loans receivable
9
8
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
-
1,743
Other
(78)
(58)
Cash flows from investing activities
(3,307)
(13,496)
(Millions of yen)
First six months of FY2025 (From April 1, 2024 to
September 30, 2024)
First six months of FY2026 (From April 1, 2025 to
September 30, 2025)
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
(791)
(584)
Proceeds from long-term loans payable
230
21,300
Repayment of long-term loans payable
(1,189)
(839)
Redemption of bonds
(128)
-
Redemption of convertible bond-type bonds with
subscription rights to shares
-
(11,600)
Purchase of treasury shares
(0)
(0)
Proceeds from sale of treasury shares
26
11
Repayments of lease obligations
(176)
(187)
Cash dividends paid
(2,977)
(2,588)
Dividends paid to non-controlling interests
(39)
(28)
Purchase of shares of subsidiaries not resulting in
change in scope of consolidation
-
(104)
Cash flows from financing activities
(5,046)
5,378
Effect of exchange rate changes on cash and cash
equivalents
356
(463)
Net increase (decrease) in cash and cash equivalents
(1,411)
418
Cash and cash equivalents at beginning of period
40,728
41,471
Cash and cash equivalents at end of period
39,316
41,890
- Notes on quarterly consolidated financial statements
-
Quarterly consolidated balance sheets
(Notes on going concern assumption)
Not applicable.
(Notes on significant changes in the amount of shareholders' equity)
Not applicable.
(Segment information, etc.)
[Segment information]
-
First Half of FY2025 (From April 1, 2024 to September 30, 2024)
-
Information on net sales and income (loss) by reportable segment and composition of revenue
(Millions of yen)
Reportable segments
Other Note: 1
Total
Adjustments Note: 2
Amount
recorded in quarterly consolidated statements of income
Note: 3
Flour Milling
Food
Total
Net sales
Revenue from contracts
with customers
60,483
119,597
180,081
24,325
204,406
-
204,406
Other revenue
-
23
23
479
502
-
502
Net sales to external customers
60,483
119,620
180,104
24,804
204,909
-
204,909
Internal sales or transfers
between segments
1,383
599
1,982
1,773
3,755
(3,755)
-
Total
61,867
120,219
182,087
26,578
208,665
(3,755)
204,909
Segment income
4,374
4,900
9,274
1,295
10,570
(45)
10,524
Notes: 1. The "Other" column indicates businesses not included in the reportable segments, including Pet Food, Health Food, Engineering, Food Service, and Real Estate Leasing business.
Segment income adjustment of ¥(45) million refers to elimination of inter-segment transactions.
Segment income is adjusted to reconcile total segment income to operating income in the quarterly consolidated statements of income.
2. Information on Impairment losses on non-current assets, goodwill, etc., by reportable segmentNot applicable.
-
Information on net sales and income (loss) by reportable segment and composition of revenue
-
First Half of FY2026 (From April 1, 2025 to September 30, 2025)
-
Information on net sales and income (loss) by reportable segment and composition of revenue
(Millions of yen)
Reportable segments
Other Note: 1
Total
Adjustments Note: 2
Amount
recorded in quarterly consolidated statements of income
Note: 3
Flour Milling
Food
Total
Net sales
Revenue from contracts
with customers
60,303
122,180
182,484
24,902
207,386
-
207,386
Other revenue
-
23
23
493
517
-
517
Net sales to external customers
60,303
122,203
182,507
25,396
207,903
-
207,903
Internal sales or transfers
between segments
1,426
468
1,894
1,654
3,548
(3,548)
-
Total
61,730
122,671
184,402
27,050
211,452
(3,548)
207,903
Segment income
4,677
4,875
9,553
1,294
10,847
7
10,855
Notes: 1. The "Other" column indicates businesses not included in the reportable segments, including Pet Food, Health Food, Engineering, Food Service, and Real Estate Leasing business.
Segment income adjustment of ¥7 million refers to elimination of inter-segment transactions.
Segment income is adjusted to reconcile total segment income to operating income in the quarterly consolidated statements of income.
-
Information on net sales and income (loss) by reportable segment and composition of revenue
Not applicable.
(Important subsequent events)
(Acquisition of own shares)
We resolved to acquire our own shares under the provisions of Article 459, paragraph (1) of the Companies Act, and our Articles of Incorporation, at a meeting of the board of directors held on October 14, 2025.
Purpose of the Acquisition
We resolved to acquire our own shares in order to improve shareholder returns and capital efficiency as well as mitigate the impact of the secondary offering of ordinary shares announced on October 14, 2025 in the press release tiled "Notice Regarding Secondary Offering of Shares" on demand for our shares.
Details of the Acquisition
Class of shares to be purchased Common stock of the Company
Total number of shares authorized to be acquired 2,200,000 shares (maximum)
Total purchase amount of shares to be acquired ¥4,000 million (maximum)
Acquisition period From Tuesday, November 25, 2025 to Tuesday, March 31, 2026
Method of Acquisition Market purchase on Tokyo Stock Exchange, Inc.