Consolidated Financial Results for the Fsical Year Ended March 31, 2026 (Under Japanese GAAP)

May 15, 2026

Company name: Japan Coke Industry Co., Ltd. Listing: Tokyo Stock Exchange

Securities code: 3315

URL: https://www.n-coke.com/ Representative: Please refer to the website. Inquiries: Please refer to the website.

Telephone: +81-3-5560-1311

Scheduled date of annual general meeting of shareholders: June 26, 2026 Scheduled date to commence dividend payments: -

Scheduled date to file annual securities report: June 25, 2026 Preparation of supplementary material on financial results: None Holding of financial results briefing: None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
   1. Consolidated operating results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      March 31, 2026	91,386	(7.7)	607	-	(276)	-	(7,678)	-
      March 31, 2025	99,045	(26.7)	(8,562)	-	(10,269)	-	(13,908)	-

      Note: Comprehensive income For the fiscal year ended March 31, 2026:	¥(6,802) million	[-%]
      For the fiscal year ended March 31, 2025:	¥(13,882) million	[-%]

      	Basic earnings per share	Diluted earnings per share	Return on equity	Ratio of ordinary profit to total assets	Ratio of operating profit to net sales
      Fiscal year ended	Yen	Yen	%	%	%
      March 31, 2026	(26.39)	-	(20.1)	(0.2)	0.7
      March 31, 2025	(47.79)	-	(28.4)	(7.6)	(8.6)

   2. Consolidated financial position

      	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
      As of	Millions of yen	Millions of yen	%	Yen
      March 31, 2026	126,544	34,797	27.5	119.57
      March 31, 2025	130,630	41,600	31.8	142.94

      Reference: Equity

      As of March 31, 2026: ¥34,797 million

      As of March 31, 2025: ¥41,600 million

   3. Consolidated cash flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
   March 31, 2026	8,511	(8,684)	1,450	6,388
   March 31, 2025	(3,178)	(16,685)	18,813	5,105

2. Cash dividends

   	Annual dividends per share					Total cash dividends (Total)	Payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
   Fiscal year ended March 31, 2025	-	0.00	-	0.00	0.00	-	-	-
   Fiscal year ended March 31, 2026	-	0.00	-	0.00	0.00	-	-	-
   Fiscal year ending March 31, 2027 (Forecast)							-

   Note: Dividends for the fiscal year ending March 31, 2027 have not yet been decided. We plan to disclose the dividend forecast as soon as it becomes possible.

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027)

(Percentages indicate year-on-year changes.)

1. Significant changes in the scope of consolidation during the period: None

2. Changes in accounting policies, changes in accounting estimates, and restatement

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

   4. Restatement: None

3. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares)

      As of March 31, 2026	302,349,449 shares
      As of March 31, 2025	302,349,449 shares

   2. Number of treasury shares at the end of the period

      As of March 31, 2026	11,326,610 shares
      As of March 31, 2025	11,325,681 shares

   3. Average number of shares outstanding during the period

1. Non-consolidated financial results for the fiscal year ended March 31, 2026 (from April 1, 2025 to March 31, 2026)
   1. Non-consolidated operating results (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit
      Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      March 31, 2026	81,972	(8.7)	(539)	-	(149)	-	(6,477)	-
      March 31, 2025	89,750	(28.9)	(9,752)	-	(11,325)	-	(14,522)	-

      	Basic earnings per share	Diluted earnings per share
      Fiscal year ended	Yen	Yen
      March 31, 2026	(22.26)	-
      March 31, 2025	(49.90)	-

   2. Non-consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio	Net assets per share
   As of	Millions of yen	Millions of yen	%	Yen
   March 31, 2026	119,082	30,516	25.6	104.86
   March 31, 2025	123,625	36,659	29.7	125.97

   Reference: Equity

   As of March 31, 2026: ¥30,516 million

   As of March 31, 2025: ¥36,659 million

   • Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

   • Proper use of earnings forecasts, and other special matters

   The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. Please refer to "(4) Future outlook" of "1. Overview of Operating Results and Others" on page 4 of the attached materials for the conditions that form the assumptions for the forecasts of financial results and cautions concerning the use thereof.

   Consolidated balance sheet

   (Millions of yen)

   As of March 31, 2025	As of March 31, 2026
   Assets
   Current assets
   Cash and deposits	5,109	6,392
   Notes receivable - trade	949	163
   Accounts receivable - trade	10,865	9,118
   Contract assets	1,064	573
   Merchandise and finished goods	12,102	10,495
   Work in process	1,583	1,136
   Raw materials and supplies	13,450	16,736
   Other	829	800
   Allowance for doubtful accounts	-	(22)
   Total current assets	45,955	45,395
   Non-current assets
   Property, plant and equipment
   Buildings and structures	25,358	25,551
   Accumulated depreciation	(17,220)	(17,517)
   Buildings and structures, net	8,138	8,034
   Machinery, equipment and vehicles	120,441	108,586
   Accumulated depreciation	(85,406)	(76,100)
   Machinery, equipment and vehicles, net	35,034	32,486
   Land	33,567	33,417
   Construction in progress	2,573	1,681
   Other	2,772	3,032
   Accumulated depreciation	(1,816)	(2,010)
   Other, net	956	1,021
   Total property, plant and equipment	80,270	76,640
   Intangible assets
   Other	707	681
   Total intangible assets	707	681
   Investments and other assets
   Investment securities	1,292	1,757
   Deferred tax assets	1,599	1,308
   Other	846	802
   Allowance for doubtful accounts	(41)	(41)
   Total investments and other assets	3,697	3,827
   Total non-current assets	84,675	81,149
   Total assets	130,630	126,544

   (Millions of yen)

   As of March 31, 2025	As of March 31, 2026
   Liabilities
   Current liabilities
   Notes and accounts payable - trade	7,564	9,604
   Short-term borrowings	32,929	37,886
   Income taxes payable	286	397
   Contract liabilities	108	355
   Provision for bonuses	703	660
   Provision for loss on liquidation of subsidiaries and associates	344	11
   Provision for loss on orders received	406	194
   Other	5,830	5,438
   Total current liabilities	48,173	54,549
   Non-current liabilities
   Long-term borrowings	32,887	29,391
   Retirement benefit liability	3,102	2,664
   Provision for retirement benefits for directors (and other officers)	48	43
   Provision for environmental measures	3,989	4,045
   Other	829	1,051
   Total non-current liabilities	40,857	37,196
   Total liabilities	89,030	91,746
   Net assets
   Shareholders' equity
   Share capital	7,000	7,000
   Capital surplus	1,750	1,750
   Retained earnings	33,769	26,090
   Treasury shares	(1,209)	(1,209)
   Total shareholders' equity	41,309	33,630
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	460	801
   Deferred gains or losses on hedges	0	(0)
   Remeasurements of defined benefit plans	(170)	366
   Total accumulated other comprehensive income	290	1,166
   Total net assets	41,600	34,797
   Total liabilities and net assets	130,630	126,544

   Consolidated statement of income

   (Millions of yen)

   Fiscal year ended March 31, 2025	Fiscal year ended March 31, 2026
   Net sales	99,045	91,386
   Cost of sales	101,160	84,169
   Gross profit (loss)	(2,115)	7,216
   Selling, general and administrative expenses
   Port handing costs	1,585	1,574
   Salaries and wages	945	995
   Ocean freight	734	727
   Land freight	610	690
   Other	2,570	2,620
   Total selling, general and administrative expenses	6,446	6,608
   Operating profit (loss)	(8,562)	607
   Non-operating income
   Interest income	16	31
   Dividend income	30	38
   Reversal of provision for loss on business of subsidiaries and associates	-	326
   Subsidy income	5	163
   Other	46	70
   Total non-operating income	99	630
   Non-operating expenses
   Interest expenses	560	869
   Provision for environmental measures	711	332
   Other	534	312
   Total non-operating expenses	1,806	1,514
   Ordinary loss	(10,269)	(276)
   Extraordinary income
   Gain on sale of non-current assets	32	128
   Gain on sale of investment securities	-	75
   Other	5	7
   Total extraordinary income	38	211
   Extraordinary losses
   Loss on retirement of non-current assets	719	1,094
   Impairment losses	10	4,436
   Loss on abandonment of inventories	-	253
   Loss on disaster	829	580
   Other	17	691
   Total extraordinary losses	1,577	7,057
   Loss before income taxes	(11,808)	(7,122)
   Income taxes - current	445	402
   Income taxes - deferred	1,654	153
   Total income taxes	2,100	556
   Loss	(13,908)	(7,678)
   Loss attributable to owners of parent	(13,908)	(7,678)

   Consolidated statement of comprehensive income

   (Millions of yen)

   Fiscal year ended March 31, 2025	Fiscal year ended March 31, 2026
   Loss	(13,908)	(7,678)
   Other comprehensive income
   Valuation difference on available-for-sale securities	56	340
   Deferred gains or losses on hedges	1	(1)
   Remeasurements of defined benefit plans, net of tax	(32)	536
   Total other comprehensive income	26	876
   Comprehensive income	(13,882)	(6,802)
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	(13,882)	(6,802)
   Comprehensive income attributable to non-controlling interests	-	-

   Consolidated statement of changes in equity Fiscal year ended March 31, 2025

   (Millions of yen)

   	Shareholders' equity
   	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
   Balance at beginning of period	7,000	1,750	48,551	(1,209)	56,091
   Changes during period
   Dividends of surplus			(873)		(873)
   Profit (loss) attributable to owners of parent			(13,908)		(13,908)
   Purchase of treasury shares				(0)	(0)
   Net changes in items other than shareholders' equity					-
   Total changes during period	-	-	(14,781)	(0)	(14,781)
   Balance at end of period	7,000	1,750	33,769	(1,209)	41,309

   	Accumulated other comprehensive income				Total net assets
   	Valuation difference on available-for-sale securities	Deferred gains or losses on hedges	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
   Balance at beginning of period	404	(1)	(138)	264	56,355
   Changes during period
   Dividends of surplus				-	(873)
   Profit (loss) attributable to owners of parent				-	(13,908)
   Purchase of treasury shares				-	(0)
   Net changes in items other than shareholders' equity	56	1	(32)	26	26
   Total changes during period	56	1	(32)	26	(14,755)
   Balance at end of period	460	0	(170)	290	41,600

   Consolidated statement of changes in equity Fiscal year ended March 31, 2026

   (Millions of yen)

   	Shareholders' equity
   	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
   Balance at beginning of period	7,000	1,750	33,769	(1,209)	41,309
   Changes during period
   Dividends of surplus					-
   Profit (loss) attributable to owners of parent			(7,678)		(7,678)
   Purchase of treasury shares				(0)	(0)
   Net changes in items other than shareholders' equity					-
   Total changes during period	-	-	(7,678)	(0)	(7,678)
   Balance at end of period	7,000	1,750	26,090	(1,209)	33,630

   	Accumulated other comprehensive income				Total net assets
   	Valuation difference on available-for-sale securities	Deferred gains or losses on hedges	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
   Balance at beginning of period	460	0	(170)	290	41,600
   Changes during period
   Dividends of surplus				-	-
   Profit (loss) attributable to owners of parent				-	(7,678)
   Purchase of treasury shares				-	(0)

   Net changes in items other than shareholders' equity	340	(1)	536	876	876
   Total changes during period	340	(1)	536	876	(6,802)
   Balance at end of period	801	(0)	366	1,166	34,797

   Consolidated statement of cash flows

   (Millions of yen)

   Fiscal year ended March 31, 2025	Fiscal year ended March 31, 2026
   Cash flows from operating activities
   Loss before income taxes	(11,808)	(7,122)
   Depreciation	5,240	6,009
   Impairment losses	10	4,436
   Loss on abandonment of inventories	-	253
   Loss on disaster	829	580
   Increase (decrease) in allowance for doubtful accounts	(9)	22
   Increase (decrease) in provision for bonuses	(25)	(42)
   Increase (decrease) in provision for loss on liquidation of subsidiaries and associates	(3)	(333)
   Increase (decrease) in retirement benefit liability	96	98
   Increase (decrease) in provision for retirement benefits for directors (and other officers)	(8)	(4)
   Increase (decrease) in provision for environmental measures	474	56
   Increase (decrease) in provision for loss on orders received	391	(211)
   Interest and dividend income	(47)	(70)
   Gain on insurance claims	(8)	(33)
   Interest expenses	560	869
   Foreign exchange losses (gains)	4	(6)
   Loss on retirement of non-current assets	719	1,094
   Loss (gain) on sale of non-current assets	(32)	(124)
   Loss (gain) on sale of investment securities	-	(75)
   Decrease (increase) in accounts receivable - trade, and contract assets	1,889	3,023
   Decrease (increase) in inventories	15,601	(1,486)
   Increase (decrease) in other business assets	24	(39)
   Increase (decrease) in trade payables	(13,140)	1,980
   Increase (decrease) in accrued consumption taxes	42	156
   Increase (decrease) in ther business debts	(2,023)	575
   Increase (decrease) in other non-current liabilities	(113)	215
   Other, net	147	(18)
   Subtotal	(1,185)	9,805
   Proceeds from insurance income	13	33
   Interest and dividends received	47	70
   Interest paid	(560)	(873)
   Income taxes refund (paid)	(662)	(376)
   Payments associated with disaster loss	(829)	(148)
   Net cash provided by (used in) operating activities	(3,178)	8,511

   (Millions of yen)

   Fiscal year ended March 31, 2025	Fiscal year ended March 31, 2026
   Cash flows from investing activities
   Purchase of non-current assets	(16,026)	(7,965)
   Payments for retirement of non-current assets	(675)	(987)
   Proceeds from sale of non-current assets	48	211
   Purchase of investment securities	(10)	(10)
   Proceeds from sale of investment securities	-	117
   Expenditure on other investments	(19)	(2)
   Collection of other investment	6	1
   Other, net	(8)	(50)
   Net cash provided by (used in) investing activities	(16,685)	(8,684)
   Cash flows from financing activities
   Proceeds from short-term borrowings	294,871	317,557
   Repayments of short-term borrowings	(302,031)	(309,713)
   Proceeds from long-term borrowings	32,145	700
   Repayments of long-term borrowings	(5,101)	(7,082)
   Purchase of treasury shares	(0)	(0)
   Dividends paid	(873)	-
   Other, net	(197)	(9)
   Net cash provided by (used in) financing activities	18,813	1,450
   Effect of exchange rate change on cash and cash equivalents	(4)	6
   Net increase (decrease) in cash and cash equivalents	(1,055)	1,282
   Cash and cash equivalents at beginning of period	6,160	5,105
   Cash and cash equivalents at end of period	5,105	6,388

   (Notes on segment information, etc.) Segment Information

   1. Overview of Reporting Segments

      The Company's reporting segments are those of the Company's constituent units for which segregated financial information is available and is subject to periodic review by the Board of Directors in order to determine the allocation of management resources and evaluate performance.

      The Group classifies its businesses based on the similarity of the products and services it handles, and each business division proactively formulates a comprehensive strategy for the products and services it handles and develops its business activities.

      Accordingly, the Group is comprised of three reporting segments: Coke Business, Fuel & Resource Recycling Business, and General Engineering Business.

      The Coke Business manufactures and sells coke. The Fuel & Resource Recycling Business is engaged in the purchase and sale of thermal coal and petroleum coke, as well as the call center business. The General Engineering segment manufactures, sells, and maintains chemical equipment and equipment.

   2. Method of calculating the amount of sales, profits or losses, assets and other items for each reporting segment

      The method of accounting for the reporting segment is the same as described in "Fundamental Important Matters for the Preparation of Consolidated Financial Statements". Profit in the reporting segment is a figure based on operating income.

      Internal sales or transfers between segments are based on prevailing market prices.

   3. Information on the amount of sales, profits or losses, assets and other items for each reporting segment

   1. The previous fiscal year (April 1, 2024 to March 31, 2025)

      (Millions of yen)
      	Reportable segments				Others (Note 1)	Total amount	Adjustment amount (Note 2)	Amount recorded in consolidated financial statements (Note 3)
      	Coke Business	Fuel Resource recycling Business	Comprehensive Engineering Business	Total
      Sales
      (1) Sales to external customers	58,714	27,240	9,296	95,251	3,793	99,045	-	99,045
      (2) Internal sales or transfers between segments	-	9	2,411	2,421	527	2,948	(2,948)	-
      Total	58,714	27,249	11,708	97,672	4,321	101,994	(2,948)	99,045
      Segment profit (loss)	(12,357)	2,775	2,072	(7,509)	593	(6,916)	(1,645)	(8,562)
      Segment Assets	84,670	10,037	10,004	104,712	15,628	120,341	10,289	130,630
      Other items
      Depreciation	4,563	34	274	4,871	308	5,180	59	5,240
      Impairment losses	-	-	-	-	10	10	-	10
      Increase in property, plant and equipment and intangible assets	14,472	50	549	15,072	199	15,271	555	15,827

      Note: 1. The "Other" category is a business segment that is not included in the reporting segments, and includes the transportation and cargo handling business, real estate sales and leasing business, etc.

2. The adjustment amount is as follows:

   1. Segment profit or loss adjustment of (1,645) million yen consists of (3) million yen for the elimination of inter-segment transactions and (1,641) million yen for company-wide expenses that have not been allocated to each reporting segment. Corporate expenses are general and administrative expenses that are not primarily attributable to the reporting segment.

   2. The 10,289 million yen adjustment for segment assets is (1,930) million yen for the elimination of inter-segment transactions and 12,220 million yen for company-wide assets that have not been allocated to each reporting segment. Company-wide assets are assets that are primarily not attributable to reporting segments.

3. Segment profit or loss and segment assets are adjusted to the operating loss and total assets in the consolidated financial statements.

4. Depreciation includes amortization of long-term prepaid expenses.

5. The increase in property, plant and equipment and intangible assets includes long-term upfront expenses.

1. The current fiscal year (April 1, 2025 to March 31, 2026)

   (Millions of yen)
   	Reportable segments				Others (Note 1)	Total amount	Adjustment amount (Note 2)	Amount recorded in consolidated financial statements (Note 3)
   	Coke Business	Fuel Resource recycling Business	Comprehensive Engineering Business	Total
   Sales
   (1) Sales to external customers	56,134	23,343	7,917	87,394	3,991	91,386	-	91,386
   (2) Internal sales or transfers between segments	-	8	2,622	2,630	391	3,022	(3,022)	-
   Total	56,134	23,351	10,539	90,025	4,382	94,408	(3,022)	91,386
   Segment profit (loss)	(2,328)	2,630	1,477	1,779	579	2,358	(1,751)	607
   Segment Assets	83,094	8,228	9,522	100,844	15,016	115,861	10,682	126,544
   Other items
   Depreciation	5,299	33	292	5,624	279	5,904	104	6,009
   Impairment losses	4,334	28	-	4,362	74	4,436	-	4,436
   Increase in property, plant and equipment and intangible assets	5,918	14	1,011	6,944	188	7,133	205	7,339

   Note: 1. The "Other" category is a business segment that is not included in the reporting segments, and includes the transportation and cargo handling business, real estate sales and leasing business, etc.

   1. The adjustment amount is as follows:

      1. Segment profit or loss adjustment of (1,751) million yen consists of (55) million yen in inter-segment transactions and (1,696) million yen in company-wide expenses that are not allocated to each reporting segment. Corporate expenses are general and administrative expenses that are not primarily attributable to the reporting segment.

      2. Segment assets adjusted to 10,682 million yen include the elimination of inter-segment transactions of (793) million yen and the unallocated assets of 11,476 million yen to each reporting segment. Company-wide assets are assets that are primarily not attributable to reporting segments.

   2. Segment profit or loss and segment assets are adjusted to operating income and total assets in the consolidated financial statements.

   3. Depreciation includes amortization of long-term prepaid expenses.

   4. The increase in property, plant and equipment and intangible assets includes long-term upfront expenses.