Nisshin Seifun : Consolidated Financial Results for the First Quarter of Fiscal 2026

July 31, 2025

Listed Company Name: Nisshin Seifun Group Inc. Registered on Tokyo Stock Exchange Code: 2002

URL: https://www.nisshin.com

Representative: Kenji Takihara, Representative Director and President

Contact: Reiko Adachi, Executive Officer and General Manager, Public Communications Department (General Administration Division)

Tel.: +81-3-5282-6650

Date to start distributing dividends: -Supplementary materials for these consolidated financial results: Yes Results briefing for financial results: None

(Figures shown are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Quarter of Fiscal 2026 (April 1, 2025 to June 30, 2025)

   1. Consolidated Business Results

      (Percentages represent year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      First three months of Fiscal 2026	215,364	0.7	11,296	(14.6)	12,932	(10.9)	11,620	7.1
      First three months of Fiscal 2025	213,874	2.7	13,220	11.5	14,516	10.8	10,845	24.0

      (Note) Comprehensive income: First three months of Fiscal 2026: ¥12,609 million (down 24.7%)

      First three months of Fiscal 2025: ¥16,740 million (down 46.7%)

      	Earnings per share	Fully diluted earnings per share
      	Yen	Yen
      First three months of Fiscal 2026	40.11	-
      First three months of Fiscal 2025	36.46	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   	Million yen	Million yen	%
   June 30, 2025	790,346	506,349	61.8
   March 31, 2025	789,713	502,570	61.4

   (Reference) Equity capital: June 30, 2025: ¥488,550 million March 31, 2025: ¥485,005 million

2. Dividends

   	Dividend per share
   	1Q End	2Q End	3Q End	Year-End	Annual
   Fiscal 2025 Fiscal 2026	Yen - -	Yen 25.00	Yen -	Yen 30.00	Yen 55.00
   Fiscal 2026 (forecast)		30.00	-	30.00	60.00

   (Note) Revision to the latest forecast of dividends: None

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

(The full-year percentages indicate the rates of increase or decrease compared with the previous fiscal year; the percentages for the first half are comparisons with the same period of the previous fiscal year.)

(Note) Revision to the latest forecast of financial results: None

* Notes

1. Significant changes in the scope of consolidation during the first three months of the fiscal year ending March 31, 2026: None

2. Adoption of special accounting treatment for preparing quarterly consolidated financial statements: Yes

3. Changes in accounting policies, changes in accounting estimates and revisions restated

   1. Changes in accounting policies associated with the revisions of accounting standards, etc.: None

   2. Changes in accounting policies other than the above: None

   3. Changes in accounting estimates: None

   4. Revisions restated: None

      As of June 30, 2025	290,657,891	As of March 31, 2025	290,657,891
      As of June 30, 2025	936,760	As of March 31, 2025	936,739
      First three months of Fiscal 2026	289,721,136	First three months of Fiscal 2025	297,426,100

4. Number of shares issued and outstanding (common stock)

   1. Number of shares issued and outstanding (including treasury shares)

   2. Number of treasury shares

   3. Average number of shares outstanding

• Review of the attached quarterly consolidated financial statements by certified public accountants or the audit firm: None

• Statement regarding the proper use of financial forecasts and other special remarks

The statements contained in this document are based on various assumptions and do not constitute any guarantee or definite promise that projections of future performance or related business policies will actually be realized .

1. Quarterly Consolidated Balance Sheets

   (Million yen)

   	As of March 31, 2025	As of June 30, 2025
   Assets
   Current assets
   Cash and deposits	93,968	73,038
   Notes and accounts receivable - trade, and contract 109,547 110,961
   assets
   Securities	2,150	14,079
   Inventories	120,641	120,165
   Other	12,933	12,736
   Allowance for doubtful accounts	(512)	(447)
   Total current assets	338,728	330,533
   Non-current assets
   Property, plant and equipment
   Buildings and structures, net	77,665	79,129
   Machinery, equipment and vehicles, net	74,633	80,956
   Land	52,700	52,774
   Right-of-use assets, net	18,731	18,473
   Other, net	27,269	24,122
   Total property, plant and equipment	251,000	255,455
   Intangible assets
   Goodwill	5,018	5,229
   Other	15,956	15,841
   Total intangible assets	20,975	21,070
   Investments and other assets
   Investment securities	158,338	162,726
   Other	20,845	20,733
   Allowance for doubtful accounts	(174)	(173)
   Total investments and other assets	179,009	183,286
   Total non-current assets	450,984	459,812
   Total assets	789,713	790,346

   (Million yen)

   	As of March 31, 2025	As of June 30, 2025
   Liabilities
   Current liabilities
   Notes and accounts payable - trade	64,872	72,044
   Short-term borrowings	13,141	9,755
   Income taxes payable	7,502	4,998
   Accrued expenses	26,295	21,148
   Other	35,502	35,355
   Total current liabilities	147,313	143,302
   Non-current liabilities
   Bonds payable	20,000	20,000
   Long-term borrowings	11,244	11,148
   Lease liabilities	40,148	40,042
   Deferred tax liabilities	37,689	38,916
   Provision for repairs	1,281	1,227
   Retirement benefit liability	21,935	21,782
   Other	7,530	7,577
   Total non-current liabilities	139,829	140,694
   Total liabilities	287,143	283,996
   Net assets
   Shareholders' equity
   Share capital	17,117	17,117
   Capital surplus	12,560	12,560
   Retained earnings	341,375	344,300
   Treasury shares	(1,470)	(1,470)
   Total shareholders' equity	369,583	372,507
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	74,065	77,306
   Deferred gains or losses on hedges	(112)	71
   Foreign currency translation adjustment	40,514	37,714
   Remeasurements of defined benefit plans	955	949
   Total accumulated other comprehensive income	115,422	116,042
   Non-controlling interests	17,564	17,799
   Total net assets	502,570	506,349
   Total liabilities and net assets	789,713	790,346

2. Quarterly Consolidated Statements of Income and Comprehensive Income

   [Quarterly Consolidated Statements of Income]
   		(Million yen)
   	Three months ended June 30, 2024	Three months ended June 30, 2025
   Net sales	213,874	215,364
   Cost of sales	165,310	167,940
   Gross profit	48,563	47,424
   Selling, general and administrative expenses	35,343	36,127
   Operating profit	13,220	11,296
   Non-operating income
   Interest income	229	290
   Dividend income	1,247	1,366
   Share of profit of entities accounted for using equity method	466	880
   Other	510	324
   Total non-operating income	2,454	2,862
   Non-operating expenses
   Interest expenses	987	904
   Other	170	321
   Total non-operating expenses	1,158	1,226
   Ordinary profit	14,516	12,932
   Extraordinary income
   Gain on sale of investment securities	2,039	4,668
   Total extraordinary income	2,039	4,668
   Extraordinary losses
   Loss on retirement of non-current assets	135	404
   Total extraordinary losses	135	404
   Profit before income taxes	16,420	17,196
   Income taxes	5,216	5,235
   Profit	11,204	11,960
   Profit attributable to non-controlling interests	358	340
   Profit attributable to owners of parent	10,845	11,620

   [Quarterly Consolidated Statements of Comprehensive Income]

   Three months ended June 30, 2024

   (Million yen)

   Three months ended June 30, 2025

   Profit	11,204	11,960
   Other comprehensive income
   Valuation difference on available-for-sale securities	(5,893)	3,240
   Deferred gains or losses on hedges	198	156
   Foreign currency translation adjustment	10,847	(2,544)
   Remeasurements of defined benefit plans, net of tax	21	13
   Share of other comprehensive income of entities accounted for using equity method	363	(217)
   Total other comprehensive income	5,536	648
   Comprehensive income	16,740	12,609
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	15,879	12,240

   Comprehensive income attributable to non-controlling interests

   861 369

   [Notes on Segment Information, etc.]

   [Segment Information]

   1. First three months of Fiscal 2025 (April 1, 2024 to June 30, 2024)

      Information on net sales and profit (loss) by reportable segment

      (Million yen)

      	Reportable segment				Others (Note 1)	Total	Adjustment (Note 2)	Carried on quarterly consolidated statements of income (Note 3)
      	Flour Milling	Processed Food	Prepared Dishes and Other Prepared Foods	Total
      Net sales
      Sales to external customers	114,912	51,303	37,973	204,190	9,683	213,874	-	213,874
      Intersegment sales and transfers	4,848	428	1,128	6,405	670	7,076	(7,076)	-
      Total	119,761	51,732	39,102	210,596	10,354	220,950	(7,076)	213,874
      Segment profit	8,051	2,003	1,489	11,544	1,671	13,215	4	13,220

      Notes: 1. Business segment of "Others" is excluded from reportable segment, which includes engineering, mesh cloths, handling and storage businesses.

      1. Segment profit adjustment refers to intersegment transaction eliminations and other.

      2. Segment profit has been adjusted for the operating profit appearing in the quarterly consolidated statements of income.

   2. First three months of Fiscal 2026 (April 1, 2025 to June 30, 2025)

1. Information on net sales and profit (loss) by reportable segment

   (Million yen)

   	Reportable segment				Others (Note 1)	Total	Adjustment (Note 2)	Carried on quarterly consolidated statements of income (Note 3)
   	Flour Milling	Processed Food	Prepared Dishes and Other Prepared Foods	Total
   Net sales
   Sales to external customers	104,647	54,749	40,773	200,170	15,194	215,364	-	215,364
   Intersegment sales and transfers	5,071	457	1,170	6,699	1,512	8,212	(8,212)	-
   Total	109,718	55,206	41,944	206,869	16,707	223,577	(8,212)	215,364
   Segment profit	6,675	1,850	1,422	9,948	1,450	11,398	(101)	11,296

   Notes: 1. Business segment of "Others" is excluded from reportable segment, which includes engineering, mesh cloths, handling and storage businesses.

2. Segment profit adjustment refers to intersegment transaction eliminations and other.

3. Segment profit has been adjusted for the operating profit appearing in the quarterly consolidated statements of income.

2. Changes in reportable segments

Expenses incurred by Nisshin Seifun Group Inc., which had been regarded as shared Company-wide expenses, were previously allocated to each business based on business size. However, due to active efforts to advance the Group's business portfolio in recent years, there has been an uptick in the handling of growth investments, including new acquisitions, subsequent PMI initiatives, and compliance with local laws and regulations. In light of this situation, we have revised our criteria for allocating expenses to each business from the first quarter of the fiscal year under review.

Segment profit for the first three months of the previous fiscal year reflects this change in allocating standards.