Consolidated Financial Results for the Nine Months Ended December 31, 2025

Consolidated Financial Results

for the Nine Months Ended December 31, 2025 [Japanese GAAP]

February 9, 2026

Company name: The Nisshin OilliO Group, Ltd. Stock exchange listing: Tokyo

Code number: 2602

URL: https://www.nisshin-oillio.com/english/

Representative: Takahisa Kuno, Representative Director and President Contact: Koji Miki, Executive Officer, General Manager of Financial Dept. Phone: +81-3-3206-5036

Scheduled date of commencing dividend payments: -Supplementary material on financial results: Available

Financial results briefing session: Available (for analysts and institutional investors)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025, to December 31, 2025)

   1. Consolidated Operating Results (% indicates changes from the previous corresponding period.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      December 31, 2025	416,965	3.1	13,519	(20.2)	12,341	(24.3)	22,588	85.5
      December 31, 2024	404,246	3.5	16,946	(12.9)	16,298	(12.9)	12,176	(12.0)

      (Note) Comprehensive income: Nine months ended December 31, 2025: ¥33,251 million [130.6%]

      Nine months ended December 31, 2024: ¥14,417 million [(15.7%)]

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      December 31, 2025	712.98	-
      December 31, 2024	375.64	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Capital adequacy ratio
   As of	Million yen	Million yen	%
   December 31, 2025	444,723	217,316	46.2
   March 31, 2025	388,242	198,086	48.2

   (Reference) Equity: As of December 31, 2025: ¥205,379 million

   As of March 31, 2025: ¥187,146 million

2. Dividends

   	Annual dividends
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended March 31, 2025	-	90.00	-	90.00	180.00
   Fiscal year ending March 31, 2026	-	90.00	-
   Fiscal year ending March 31, 2026 (Forecast)				90.00	180.00

   (Note) Revision to the dividend forecast announced most recently: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025, to March 31, 2026)

(% indicates changes from the previous corresponding period.)

(Notes)

1. Revision to the financial results forecast announced most recently: None

2. Gain on sale of non-current assets of ¥23,163 million is recorded as extraordinary income in the nine months ended December 31, 2025. Please refer to "1. Overview of Business Performance, (1) Overview of Business Performance for Nine-Month Period under Review" on page 5 for the recording of extraordinary income.

3. Profit attributable to owners of parent excluding one-time extraordinary income/losses and other factors is expected to be

   ¥9,000 million.

   • Notes:

1. Significant changes in the scope of consolidation during the period under review: Yes Excluded: 1 company (The Golf Joy Co., Ltd.)

2. Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes

   (Note) For details, please refer to "2. Quarterly Consolidated Financial Statements and Related Notes, (4) Notes to the Quarterly Consolidated Financial Statements, Application of special accounting methods in the preparation of quarterly consolidated financial statements" on page 16.

3. Changes in accounting policies, changes in accounting estimates and retrospective restatement

   1. Changes in accounting policies due to the revision of accounting standards: None

   2. Changes in accounting policies other than 1) above: None

   3. Changes in accounting estimates: None

   4. Retrospective restatement: None

4. Total number of issued shares (common stock)

   1. Total number of issued shares at the end of the period (including treasury stock): December 31, 2025: 33,716,257 shares

      March 31, 2025: 33,716,257 shares

   2. Total number of treasury stock at the end of the period: December 31, 2025: 2,924,422 shares

      March 31, 2025: 1,295,772 shares

   3. Average number of shares during the period (cumulative from the beginning of the fiscal year): Nine months ended December 31, 2025: 31,681,779 shares

Nine months ended December 31, 2024: 32,416,851 shares

(Note) The Company's shares held by the Trust Account for Stock Delivery to Directors are included in treasury stock.

• Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or audit firms: None

• Explanation of the appropriate use of earnings forecasts and other notes: The forward-looking statements, including earnings forecasts, contained in this document are based on information currently available to the Company and certain assumptions deemed reasonable, and are not intended as a promise by the Company that they will be achieved. Actual results may differ materially due to a variety of factors. Please refer to "1. Overview of Business Performance, (3) Explanation of the Forecast Data, including Consolidated Results Forecast" on page 10 for the conditions that form the assumptions for the forecast of financial results and cautions concerning the use of the forecast of financial results.

Financial results briefing for analysts and institutional investors via interactive conference call will be held as follows: Date: February 9, 2026 (Mon.) (Only available in Japanese)

Supplementary materials will be posted on the Company's website.

[Reference]

Table of Contents

1. Overview of Business Performance 5

   1. Overview of Business Performance for Nine-Month Period under Review 5

   2. Overview of Financial Position 10

   3. Explanation of the Forecast Data, including Consolidated Results Forecast 10

2. Quarterly Consolidated Financial Statements and Related Notes 11

   1. Quarterly Consolidated Balance Sheets 11

   2. Quarterly Consolidated Statements of Income and Comprehensive Income 13

   3. Quarterly Consolidated Statements of Cash Flows 15

   4. Notes to the Quarterly Consolidated Financial Statements 16

Application of special accounting methods in the preparation of quarterly consolidated financial statements 16

Notes on segment information 16

Revenue recognition 19

Notes on any significant fluctuation in the amount of shareholders' equity 19

Notes on going concern assumption 19

1. ‌Overview of Business Performance‌

   Any forward-looking statement herein is based on management's judgment as of December 31, 2025.

   1. ‌Overview of Business Performance for Nine-Month Period under Review‌

      During the first nine months of the fiscal year ending March 31, 2026, despite ongoing instability due to U.S. tariff policy, heightened geopolitical risks, and other factors, the global economy maintained steady growth, supported by fiscal and monetary easing policies in various countries.

      In Japan, the economy has been recovering moderately amid factors such as rising incomes and robust inbound demand. At the same time, the market environment remained challenging, with consumers continuing to prioritize savings in response to rising food prices. The cost environment also remained challenging, with increases in energy costs and costs involved with the oils & fats business.

      In such an environment, the Group is accelerating its growth trajectory using the CSV goals as growth drivers established in the six priorities under Vision 2030. Leveraging The Natural Power of Plants as a foundation for value creation, the Group aims for sustainable growth by creating diverse shared values with society. Additionally, we have set to achieve an ROE level as a material performance target that exceeds equity cost, and are committed to enhance profitability and asset efficiency. Under the medium-term business plan Value UpX covering FY2025 to FY2028, the Group will pursue initiatives with performance targets of ROE of 8.0% or higher and ROIC of 6.0% or higher for FY2028.

      The financial results for the first nine months of the fiscal year ending March 31, 2026, are as follows:

      (Million yen)

      	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      Net sales	404,246	416,965	+12,718	103.1
      Operating profit	16,946	13,519	(3,426)	79.8
      Ordinary profit	16,298	12,341	(3,957)	75.7
      Profit attributable to owners of parent	12,176	22,588	+10,411	185.5

      In the nine months ended December 31, 2025, gain on transfer of fixed asset of ¥23,163 million is recorded as gain on sale of non-current assets under extraordinary income.

      Overview by Segment

      Originally, the Company classified the business categories under its reporting segments into the three categories of "Oil and Fat," "Processed Food and Materials," and "Fine Chemical." However, in line with the business strategy under the new medium-term business plan Value UpX, the business categories were changed to "Global Oil & Fat and Processed Oil & Fat," "Oil, Fat & Meal and Processed Food & Materials," and "Fine Chemical." This change is to properly indicate the actual state of business management in the Group.

      Note that segment information for the nine months ended December 31, 2024, was prepared based on the categorization method following the change.

      << Global Oil & Fat and Processed Oil & Fat >>(Million yen)

      	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      Net sales	87,129	102,610	+15,481	117.8
      Operating profit	4,344	3,929	(414)	90.5

      Market prices of palm oil increased year on year due to increased demand for palm oil resulting from biofuel policies in Indonesia, higher soybean oil market prices due to biofuel policies in the U.S., and other factors.

      In the global oil & fat and processed oil & fat segment, at Intercontinental Specialty Fats Sdn. Bhd. (ISF) in Malaysia, demand for confectionery fats that are substitutable for cocoa butter increased against the backdrop of surging cocoa bean market prices in the previous fiscal year, and as a result, sales volume of confectionery fats increased. Also, unit sales prices rose due to higher market prices of palm oil compared to the same period of the previous fiscal year, resulting in an increase in net sales. Meanwhile, operating profit decreased due to the effects of mark-to-market valuation of palm oil transactions and other factors.

      << Oil, Fat & Meal and Processed Food & Materials >>(Million yen)

      	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      Net sales	298,153	295,361	(2,791)	99.1
      Operating profit	11,493	8,522	(2,970)	74.2

      In the oil, fat & meal category, we implemented price revisions amid a harsh cost environment characterized by rising energy costs, logistics expenses, and packaging/materials costs, coupled with higher oil & fat costs. The revisions, however, proved more difficult than anticipated, and sales volume declined, particularly for household-use products, resulting in lower net sales and operating profit.

      In the processed food & materials category, net sales and operating profit increased due to sales price revisions implemented in conjunction with soaring raw material prices, primarily for chocolate.

      As a result of the above developments, net sales and operating profit for the segment as a whole decreased due to substantial effects from the oil, fat & meal category.

      • Oil, Fat & Meal (Million yen)

        	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
        Net sales	240,137	236,685	(3,451)	98.6
        Operating profit	8,072	4,639	(3,432)	57.5

        Procurement environment of raw materials

        In terms of raw material procurement, soybean prices fell year on year due to the yen growing in strength against the U.S. dollar year on year and market prices for soybeans also falling. Meanwhile, rapeseed prices exceeded year-on-year levels, largely due to the impact of rising rapeseed market prices.

        Market prices of major raw materials

        Regarding market prices for soybeans, concerns for the decline in demand due to the announcement of the U.S. tariff policy caused market prices to temporarily fall to the US$9-range in April. Subsequently, market prices fluctuated between the high US$9-range and the US$10-range due to the upward trend in volumes of mandatory biofuel blending and production volume forecasts in the U.S. Based on expectations for a recovery of export demand for U.S. soybeans following agreement by the U.S. and China in late October, market prices rose to the US$11-range for the first time since July 2024, but were lower than in the same period of the previous fiscal year. As for market prices for rapeseed, transactions rose to the mid-C$700-range in June due to concerns over a drop in production in Canada. Later, market prices fell to the low C$600-range as concerns over reduced demand arose following China's August announcement of anti-dumping duties on Canadian rapeseed, compounded by expectations of a bumper crop in Canada. However, rapeseed market prices rose in tandem with soybean market prices from October onward, climbing to the mid-C$600 range, resulting in an increase the same period of the

        previous fiscal year.

        Exchange rates

        The U.S. dollar-yen market saw the yen appreciate against the U.S. dollar, temporarily reaching under 140 yen in late April, affected mainly by the U.S. tariff policy. Subsequently, the yen depreciated against the U.S. dollar to the high 150-yen range in November due to receding concerns of a U.S. recession and concerns of fiscal deterioration in Japan due to expansionary fiscal policies after the Liberal Democratic Party presidential election in October, but the yen was higher against the dollar than in the same period of the previous fiscal year.

        Sales of oil & fat

        In commercial-use products, efforts were made to expand sales through active proposals of our marketing-based functional product line. However, as a result of prioritizing price revisions driven by higher costs, users' desire to reduce the use of oil, and other factors, sales volume decreased slightly year on year, particularly for basic-type products. Meanwhile, net sales increased following sales price revisions.

        In the food processing sector, due to heightened consumer awareness of protecting their current standard of living caused by high prices coupled with further price adjustments in various industries, even sales of certain products that had been performing strongly to this point showed a slowing trend, resulting in a slight decrease in sales volume. Nevertheless, our efforts to persistently negotiate price revisions commensurate with market prices for raw materials yielded an increase in net sales.

        For household-use products, we worked to entrench flaxseed oil and other "pour-and-enjoy fresh edible oils" as well as re-expand the sales of olive oils, whose market slumped in the previous fiscal year due to surging raw material prices. We also strove to continuously penetrate the market with marketing-based functional products and to revise the prices of cooking oils. However, amid a stronger mindset among consumers to protect their current standard of living against the backdrop of price hikes, sales volume fell year on year, resulting in a decrease in net sales.

        In terms of profit, although continuous efforts were made to revise prices amid rising costs, it proved more difficult than anticipated, and gross profit per unit fell year on year. This, coupled with the decrease in sales volume mainly for household-use products, led to a decrease in operating profit.

        In the processed oil & fat sector in Japan, sales volume grew largely due to an increase in customers' adoption of our products resulting from solution proposal efforts that addressed issues and needs, and a continued increase in demand for confectionery fats triggered by cocoa butter price surge. Additionally, price revisions for confectionery fats, shortenings and other items also contributed to higher net sales and operating profit.

        Sales of oil meals

        As for soybean meal, sales volume grew due to efforts to expand sales following an increase in crushing volume. Meanwhile, because market prices for soybeans on the Chicago Board of Trade fell considerably and the yen was strong against the U.S. dollar, unit sales prices fell greatly, leading to a decrease in net sales.

        As for rapeseed meal, although crushing volume declined, our efforts to expand sales translated into a flat sales volume compared to the same period of the previous fiscal year. Meanwhile, the impact of lower prices for soybean meal and other factors caused unit sales prices for rapeseed meal to fall, which led to a decrease in net sales.

      • Processed Food & Materials (Million yen)

      	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      Net sales	58,016	58,676	+660	101.1
      Operating profit	3,421	3,883	+462	113.5

      In chocolate products, the market in Japan contracted due to soaring prices for chocolate, and sales volume decreased year on year. Nevertheless, net sales and operating profit increased as a result of appropriate price revisions commensurate with costs.

      In functional materials and foods, net sales increased due to an increase in the sales volume of MCT (Medium Chain Triglyceride) products and sales at appropriate prices. In addition, operating profit was higher as a result of lower selling, general and administrative expenses.

      << Fine Chemical >>(Million yen)

      	Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      Net sales	10,897	11,337	+440	104.0
      Operating profit	1,289	1,287	(2)	99.8

      In the fine chemical segment, we expanded our solution proposals through technical support for skincare products in addition to makeup products. New adoptions of our products, mainly in Japan, contributed to an increase in sales volume that translated into net sales growth. Operating profit was flat compared to the same period of the previous fiscal year.

      Reference: Net sales (non-consolidated) (Million yen)

      		Nine months ended December 31, 2024	Nine months ended December 31, 2025	Change	YoY (%)
      	Oil, Fat & Meal	217,929	212,369	(5,560)	97.4
      	Commercial-use and	91,276	94,030	+2,754	103.0
      	food processing
      Oil, Fat &	Household-use	53,534	50,115	(3,419)	93.6
      Meal and
      	Processed Oil & Fat	9,535	11,879	+2,344	124.6
      Processed
      Food &
      	Meal	63,583	56,343	(7,240)	88.6
      Materials
      	Processed Food &	14,777	14,175	(601)	95.9
      	Materials
      	Subtotal	232,707	226,544	(6,162)	97.4
      Fine Chemical		5,835	6,475	+639	111.0
      Other		322	258	(64)	80.0
      Total		238,866	233,278	(5,587)	97.7

   2. ‌Overview of Financial Position‌
      1. Assets, liabilities and net assets

         Total assets on December 31, 2025, stood at ¥444,723 million, up by ¥56,481 million from the previous fiscal year-end. The main reasons for this increase were increases of ¥867 million in cash and deposits, ¥14,841 million in trade receivables, ¥5,000 million in securities, ¥7,960 million in inventories, ¥3,739 million in other current assets, ¥21,527 million in property, plant and equipment, and ¥1,263 million in investment securities.

         Liabilities stood at ¥227,406 million, up by ¥37,250 million from the previous fiscal year-end. The main reasons for the increase were increases of ¥1,679 million in trade payables, ¥1,724 million in short-term borrowings,

         ¥3,388 million in income taxes payable, ¥10,000 million in bonds payable, ¥14,504 million in long-term borrowings, and ¥7,154 million in other non-current liabilities.

         Net assets stood at ¥217,316 million, an increase of ¥19,230 million from the previous fiscal year-end. The main factors were increases of ¥16,819 million in retained earnings and ¥9,601 million in accumulated other comprehensive income, but this increase in net assets was partially offset by an increase of ¥8,265 million in treasury shares.

      2. Status of cash flows

      Cash and cash equivalents as of December 31, 2025, stood at ¥19,776 million, an increase of ¥5,356 million from the previous fiscal year-end.

      << Cash Flows from Operating Activities >>

      Operating activities used net cash of ¥1,465 million (¥10,067 million provided in the same period of the previous fiscal year). The main factors increasing cash were profit before income taxes of ¥33,636 million and depreciation of ¥8,586 million. The main factors decreasing cash were gain on sale and retirement of non-current assets of

      ¥22,839 million, an increase in trade receivables of ¥12,561 million, an increase in inventories of ¥4,286 million, and income taxes paid of ¥3,843 million.

      << Cash Flows from Investing Activities >>

      Investing activities used net cash of ¥4,115 million (¥8,082 million used in the same period of the previous fiscal year). The main factor increasing cash was proceeds from sale of property, plant and equipment of ¥21,053 million. The main factor decreasing cash was purchase of property, plant and equipment of ¥24,000 million.

      << Cash Flows from Financing Activities >>

      Financing activities provided net cash of ¥9,623 million (¥928 million used in the same period of the previous fiscal year). The main factors increasing cash were proceeds from long-term borrowings of ¥25,000 million and proceeds from issuance of bonds of ¥10,000 million. The factors decreasing cash were net decrease in short-term borrowings of ¥5,232 million, repayments of long-term borrowings of ¥5,498 million, dividends paid of ¥5,746 million, and purchase of treasury shares of ¥8,246 million.

   3. ‌Explanation of the Forecast Data, including Consolidated Results Forecast‌

   With regard to the consolidated results, there is no change in the figures of full-year consolidated earnings forecasts for FY2025 (fiscal year ending March 31, 2026), announced on November 7, 2025.

   If we determine that changes in circumstances require us to revise the Group's earnings forecasts, we will disclose such revisions promptly.

2. ‌Quarterly Consolidated Financial Statements and Related Notes‌

1. ‌Quarterly Consolidated Balance Sheets‌

   		(Million yen)
   As of March 31, 2025		As of December 31, 2025
   Assets
   Current assets
   Cash and deposits	17,147	18,015
   Notes and accounts receivable - trade	94,983	109,825
   Securities	-	5,000
   Inventories	103,282	111,243
   Income taxes receivable	211	83
   Other	13,085	16,825
   Allowance for doubtful accounts	(49)	(101)
   Total current assets	228,661	260,891
   Non-current assets
   Property, plant and equipment
   Buildings and structures, net	30,409	31,037
   Machinery, equipment and vehicles, net	40,752	43,226
   Land	27,475	40,451
   Other, net	11,647	17,095
   Total property, plant and equipment	110,284	131,811
   Intangible assets
   Software	2,112	2,725
   Goodwill	143	127
   Other	283	286
   Total intangible assets	2,540	3,140
   Investments and other assets
   Investment securities	33,725	34,988
   Retirement benefit asset	8,634	9,301
   Other	4,372	4,521
   Allowance for doubtful accounts	(26)	(26)
   Total investments and other assets	46,707	48,785
   Total non-current assets	159,531	183,737
   Deferred assets
   Bond issuance costs	48	94
   Total deferred assets	48	94
   Total assets	388,242	444,723

   		(Million yen)
   As of March 31, 2025		As of December 31, 2025
   Liabilities
   Current liabilities
   Notes and accounts payable - trade	48,958	50,637
   Short-term borrowings	25,138	26,862
   Income taxes payable	1,473	4,862
   Provisions	62	40
   Other	30,667	29,516
   Total current liabilities	106,299	111,919
   Non-current liabilities
   Bonds payable	15,000	25,000
   Long-term borrowings	50,623	65,128
   Provisions	591	611
   Retirement benefit liability	2,216	2,168
   Other	15,424	22,578
   Total non-current liabilities	83,856	115,487
   Total liabilities	190,156	227,406
   Net assets
   Shareholders' equity
   Share capital	16,332	16,332
   Capital surplus	21,663	21,740
   Retained earnings	135,402	152,222
   Treasury shares	(4,044)	(12,309)
   Total shareholders' equity	169,353	177,985
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	7,373	8,269
   Deferred gains or losses on hedges	(215)	1,817
   Foreign currency translation adjustment	9,166	16,153
   Remeasurements of defined benefit plans	1,468	1,153
   Total accumulated other comprehensive income	17,792	27,393
   Non-controlling interests	10,939	11,937
   Total net assets	198,086	217,316
   Total liabilities and net assets	388,242	444,723

2. ‌Quarterly Consolidated Statements of Income and Comprehensive Income‌

   Quarterly Consolidated Statements of Income

   		(Million yen)
   For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
   Net sales	404,246	416,965
   Cost of sales	345,530	360,514
   Gross profit	58,716	56,450
   Selling, general and administrative expenses	41,770	42,930
   Operating profit	16,946	13,519
   Non-operating income
   Interest income	220	200
   Dividend income	351	325
   Share of profit of entities accounted for using equity method	-	1,170
   Other	285	173
   Total non-operating income	858	1,870
   Non-operating expenses
   Interest expenses	983	2,296
   Share of loss of entities accounted for using equity method	176	-
   Foreign exchange losses	19	301
   Loss on disposal of inventories	122	109
   Other	205	340
   Total non-operating expenses	1,505	3,048
   Ordinary profit	16,298	12,341
   Extraordinary income
   Gain on sale of non-current assets	-	23,163
   Gain on sale of investment securities	2,682	23
   Total extraordinary income	2,682	23,187
   Extraordinary losses
   Loss on retirement of non-current assets	262	324
   Impairment losses	-	1,567
   Total extraordinary losses	262	1,892
   Profit before income taxes	18,718	33,636
   Income taxes	5,676	10,282
   Profit	13,042	23,353
   Profit attributable to non-controlling interests	865	765
   Profit attributable to owners of parent	12,176	22,588

   Quarterly Consolidated Statements of Comprehensive Income

   		(Million yen)
   For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
   Profit	13,042	23,353
   Other comprehensive income
   Valuation difference on available-for-sale securities	(2,745)	767
   Deferred gains or losses on hedges	94	2,020
   Foreign currency translation adjustment	4,192	7,116
   Remeasurements of defined benefit plans, net of tax	(216)	(315)
   Share of other comprehensive income of entities accounted for using equity method	50	309
   Total other comprehensive income	1,375	9,897
   Comprehensive income	14,417	33,251
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	13,410	32,188
   Comprehensive income attributable to non-controlling interests	1,006	1,062

3. ‌Quarterly Consolidated Statements of Cash Flows‌

   		(Million yen)
   For the nine months ended December 31, 2024		For the nine months ended December 31, 2025
   Cash flows from operating activities
   Profit before income taxes	18,718	33,636
   Depreciation	7,746	8,586
   Impairment losses	-	1,567
   Amortization of goodwill	32	33
   Interest and dividend income	(572)	(526)
   Interest expenses	983	2,296
   Share of loss (profit) of entities accounted for using equity method	176	(1,170)
   Loss (gain) on sale and retirement of non-current assets	262	(22,839)
   Loss (gain) on sale of investment securities	(2,682)	(23)
   Decrease (increase) in trade receivables	(6,756)	(12,561)
   Decrease (increase) in inventories	1,347	(4,286)
   Increase (decrease) in trade payables	925	379
   Decrease (increase) in retirement benefit asset	238	(666)
   Increase (decrease) in retirement benefit liability	58	(47)
   Other, net	(2,278)	(352)
   Subtotal	18,198	4,026
   Interest and dividends received	568	505
   Interest paid	(956)	(2,153)
   Income taxes paid	(7,743)	(3,843)
   Net cash provided by (used in) operating activities	10,067	(1,465)
   Cash flows from investing activities
   Purchase of property, plant and equipment	(11,773)	(24,000)
   Proceeds from sale of property, plant and equipment	15	21,053
   Purchase of investment securities	(644)	(122)
   Proceeds from sale of investment securities	3,668	44
   Other, net	651	(1,089)
   Net cash provided by (used in) investing activities	(8,082)	(4,115)
   Cash flows from financing activities
   Net increase (decrease) in short-term borrowings	16,670	(5,232)
   Proceeds from long-term borrowings	-	25,000
   Repayments of long-term borrowings	(520)	(5,498)
   Proceeds from issuance of bonds	-	10,000
   Redemption of bonds	(10,000)	-
   Dividends paid	(6,488)	(5,746)
   Proceeds from sale of treasury shares	9	18
   Purchase of treasury shares	(3)	(8,246)
   Dividends paid to non-controlling interests	(40)	(65)
   Other, net	(555)	(603)
   Net cash provided by (used in) financing activities	(928)	9,623
   Effect of exchange rate change on cash and cash equivalents	874	1,312
   Net increase (decrease) in cash and cash equivalents	1,931	5,356
   Cash and cash equivalents at beginning of period	16,483	14,420
   Cash and cash equivalents at end of period	18,415	19,776

4. ‌Notes to the Quarterly Consolidated Financial Statements‌

[Deferral of cost variances]

Cost variances arising from seasonally fluctuating operating rates are deferred as current liabilities (other), because such variances are expected to be mostly eliminated by the end of the cost accounting period.

1. Overview of reporting segments

   The Company has established operating divisions by product; each division conducts business activities by formulating comprehensive domestic and overseas strategies for the products it handles. Therefore, the Company's business consists of product segments based on the operating divisions, with three reporting segments: "Global Oil & Fat and Processed Oil & Fat," "Oil, Fat & Meal and Processed Food & Materials," and "Fine Chemical."

   Main products for each reporting segment can be found in the chart below:

   Business category		Main products
   Global Oil & Fat and Processed Oil & Fat		Processed oil & fat (confectionery fats), edible oils for commercial use, oils & fats for food processing
   Oil, Fat & Meal and Processed Food & Materials	Oil, Fat & Meal	Edible oils for household use and for commercial use, oils & fats for food processing, processed oil & fat (confectionery fats, margarines, shortenings), oil meals
   	Processed Food & Materials	Chocolate-related products, household-use salad dressings, wellness foods (MCT high-energy food, elderly/long-term care food), MCT, lecithin, tocopherol, edible soybeans, soy protein
   Fine Chemical		Ingredients for cosmetics and toiletries, chemical products, plant-based industrial oils
   Other		Detergents, antibacterial agents, surfactants, information systems, sales promotions, P&C insurance agency, real estate leasing

2. Matters regarding changes in reporting segments

   Originally, the Company classified the business categories under its reporting segments into the three categories of "Oil and Fat," "Processed Food and Materials," and "Fine Chemical." However, in line with the business strategy under the new medium-term business plan Value UpX, the business categories were changed to "Global Oil & Fat and Processed Oil & Fat," "Oil, Fat & Meal and Processed Food & Materials," and "Fine Chemical." This change is to properly indicate the actual state of business management in the Group.

   Note that segment information for the nine months ended December 31, 2024, was prepared based on the categorization method following the change.

3. Information regarding amounts of net sales and profit and loss by reporting segment

   Nine months ended December 31, 2024 (April 1, 2024, to December 31, 2024) (Million yen)

   	Reporting segment						Other (Note 1)	Total	Adjustments (Note 2)	Amount in the consolidated statements of income (Note 3)
   	Global Oil & Fat and Processed Oil & Fat	Oil, Fat & Meal and Processed Food & Materials			Fine Chemical	Total
   		Oil, Fat & Meal	Processed Food & Materials	Subtotal
   Net sales
   Sales to external customers	87,129	240,137	58,016	298,153	10,897	396,179	8,067	404,246	-	404,246
   Intersegment sales and transfers	7,559	3,801	124	3,925	1,054	12,539	2,487	15,026	(15,026)	-
   Total	94,688	243,938	58,140	302,078	11,951	408,718	10,554	419,273	(15,026)	404,246
   Segment profit (loss)	4,344	8,072	3,421	11,493	1,289	17,126	581	17,707	(761)	16,946

   Notes:

   1. The Other category is for business segments that are not included in reporting segments, such as information systems.

   2. Adjustment for segment profit of - ¥761 million includes unallocated expenses. These expenses mainly comprise general and administrative expenses that cannot be attributed to reporting segments.

   3. Segment profit is adjusted against the operating profit recorded in the consolidated statements of income.

   Nine months ended December 31, 2025 (April 1, 2025, to December 31, 2025) (Million yen)

   	Reporting segment						Other (Note 1)	Total	Adjustments (Note 2)	Amount in the consolidated statements of income (Note 3)
   	Global Oil & Fat and Processed Oil & Fat	Oil, Fat & Meal and Processed Food & Materials			Fine Chemical	Total
   		Oil, Fat & Meal	Processed Food & Materials	Subtotal
   Net sales
   Sales to external customers	102,610	236,685	58,676	295,361	11,337	409,310	7,654	416,965	-	416,965
   Intersegment sales and transfers	8,866	4,167	114	4,281	788	13,936	2,766	16,702	(16,702)	-
   Total	111,476	240,852	58,791	299,643	12,126	423,246	10,420	433,667	(16,702)	416,965
   Segment profit (loss)	3,929	4,639	3,883	8,522	1,287	13,739	500	14,239	(719)	13,519

   Notes:

   1. The Other category is for business segments that are not included in reporting segments, such as information systems.

   2. Adjustment for segment profit of - ¥719 million includes unallocated expenses. These expenses mainly comprise general and administrative expenses that cannot be attributed to reporting segments.

   3. Segment profit is adjusted against the operating profit recorded in the consolidated statements of income.

4. Regional information

   Nine months ended December 31, 2024 (April 1, 2024, to December 31, 2024) (Million yen)

   	Japan	Asia	Other	Total
   Net sales	299,356	56,029	48,860	404,246
   Ratio to net sales	74.1%	13.9%	12.0%	100.0%

   Note: Net sales are classified by country or region based on the location of customers.

   Nine months ended December 31, 2025 (April 1, 2025, to December 31, 2025) (Million yen)

   	Japan	Asia	Other	Total
   Net sales	294,292	70,890	51,782	416,965
   Ratio to net sales	70.6%	17.0%	12.4%	100.0%

   Note: Net sales are classified by country or region based on the location of customers.

5. Information relating to non-current asset impairment losses or goodwill, etc. by reporting segment

Material impairment loss on non-current assets

For the nine months ended December 31, 2025, the Company recorded an impairment loss of ¥1,567 million on non-current assets in the oil, fat & meal and processed food & materials segment.

Information breaking down revenue arising from contracts with customers

Nine months ended December 31, 2024 (April 1, 2024, to December 31, 2024) (Million yen)

Note: The Other category is for business segments that are not included in reporting segments, such as information systems.

Nine months ended December 31, 2025 (April 1, 2025, to December 31, 2025) (Million yen)

Note: The Other category is for business segments that are not included in reporting segments, such as information systems.

Based on a resolution made at the Board of Directors' meeting held on June 17, 2025, the Company purchased 1,645,900 shares of its common stock during the nine months ended December 31, 2025. As a result of this purchase and other factors, treasury shares increased by ¥8,265 million during the nine months ended December 31, 2025, coming to ¥12,309 million in treasury shares as of December 31, 2025.

There is no item to report.