Financial Results(Fiscal Year Ending 2026/Mar 3Q)

February 5, 2026

Company Name: Nittobo

Securities Code: 3110

Stock Exchange Listing: Tokyo Stock Exchange

URL: https://www.nittobo.co.jp/eng/index

Representative: Hiroyuki Tada, Director, Representative and Chief Executive Officer Contact: Hiroki Kajikawa, Senior Executive Officer

Tel: +81-3-4582-5040

Scheduled date of commencement of dividend payment: -Preparation of supplementary explanatory material for financial results: Yes

Organization of financial results briefing: Yes (online conference for institutional investors and analysts)

(Millions of yen, rounded down)

1. Consolidated financial results for the first nine months of the fiscal year ending March 31, 2026 (April 1, 2025 to December 31, 2025)

   1. Consolidated results of operations (cumulative)

      (Percentage figures represent year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      December 31, 2025	87,594	7.5	14,933	26.4	15,245	15.5	35,110	272.7
      December 31, 2024	81,520	19.8	11,811	107.1	13,196	94.8	9,421	75.6

      (Note) Comprehensive income: Nine months ended December 31, 2025 ¥39,512 million [360.9%] Nine months ended December 31, 2024 ¥8,572 million [(20.7)%]

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      December 31, 2025	964.42	-
      December 31, 2024	258.77	-

   2. Consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio
   As of	Millions of yen	Millions of yen	%
   December 31, 2025	272,589	171,358	60.5
   March 31, 2025	223,105	135,829	58.1

   (Reference) Equity: As of December 31, 2025 ¥164,923 million; As of March 31, 2025 ¥129,734 million

2. Dividends

   	Dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Annual total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended March 31, 2025	-	27.50	-	78.50	106.00
   Fiscal year ending March 31, 2026	-	27.50	-
   Fiscal year ending March 31, 2026 (Forecast)				86.50	114.00

   (Note) Revision of the forecasted dividends from most recently announced figures: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(Percentage figures represent year-on-year changes.)

(Note) Revision of the forecasted earnings from most recently announced figures: Yes

* Notes

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

   Newly included: None; Excluded: None

2. Application of accounting treatment special to the preparation of quarterly consolidated financial statements: None

3. Changes in accounting policies, accounting estimates and retrospective restatements

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

   2. Changes in accounting policies other than (a): None

   3. Changes in accounting estimates: None

   4. Retrospective restatements: None

4. Number of issued shares (common shares)

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

      As of December 31, 2025

      37,723,012 shares

      As of March 31, 2025

      37,723,012 shares

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

      As of December 31, 2025

      1,317,248 shares

      As of March 31, 2025

      1,316,229 shares

   3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Cautions on forward-looking statements, etc.

The projections contained in this document are based on information currently available to NITTO BOSEKI CO., LTD. (hereinafter, the "Company") and certain assumptions that are deemed to be reasonable, and the Company does not intend to guarantee their achievement. Moreover, actual business and other results may differ from the forecast due to various factors going forward. For matters related to the forecasts, please see "(3) Explanation on Consolidated Earnings Forecasts for the Fiscal Year" of "1. Qualitative Information on Quarterly Financial Results" on page 3.

1. Qualitative Information on Quarterly Financial Results
   1. Explanation on Operating Results

      During the first nine months ended December 31, 2025, unstable conditions persisted in the global economy, due to factors such as the uncertainty caused by the tariff policy of the United States and a slowdown in China's economy. In the Japanese economy, there were signs of gradual recovery due to a pickup in corporate earnings and capital investment, thereby reducing the uncertain outlook.

      In this environment, the Nittobo Group (hereinafter, the "Group") began its Medium-Term Management Plan (FY2024-2027) to achieve the Group's long-term vision [Big VISION 2030]. In order to help achieve a sustainable society, the Company aims to become a corporate group that continues to create a global niche No. 1 business that contributes to "Environment/Energy," "Digital Society," and "Health/Safety/Security."

      In the first nine months ended December 31, 2025, sales of high-value-added products were strong, particularly in the Electronic Materials Business. As a result, consolidated net sales were ¥87,594 million (up 7.5% year on year), operating profit was ¥14,933 million (up 26.4% year on year), ordinary profit was ¥15,245 million (up 15.5% year on year) and profit attributable to owners of parent was ¥35,110 million (up 272.7% year on year).

      The status of operations and initiatives being carried out in each business are as follows.

      In the Electronic Materials Business, strong demand related to AI servers continued, and factors such as strong sales of Special Glass with low thermal expansion properties for semiconductor package substrates and Special Glass with low-dielectric properties contributed to revenue. As a result, net sales in the Electronic Materials Business were ¥36,087 million (up 19.5% year on year) and operating profit was ¥13,827 million (up 39.6% year on year).

      In the Medical Business, although there was an impact from advancement in preferential treatment for domestic products in China, sales of products like in vitro diagnostic reagents were steady. We also continuously strengthened our foundation. As a result, net sales in the Medical Business were ¥10,322 million (up 0.1% year on year) and operating profit was ¥1,856 million (up 7.1% year on year).

      In the Composite Materials Business, sales were on a par with the previous year. In addition, in the same period of the previous fiscal year, there was an impact from higher costs associated with periodic repairs of production facilities. As a result, net sales in the Composite Materials Business were ¥10,040 million (up 0.2% year on year) and operating loss improved to ¥185 million (compared with an operating loss of ¥731 million in the same period of the previous fiscal year).

      In the Materials Solution Business, although price increases contributed to sales, there was an impact from higher costs of raw materials, etc. As a result, net sales in the Materials Solution Business were ¥7,029 million (down 1.9% year on year) and operating profit was ¥386 million (down 31.2% year on year).

      In the Insulation Materials Business, sales remained sluggish for residential sector, and there was an impact from higher costs associated with periodic repairs of production facilities. As a result, net sales in the Insulation Materials Business were ¥11,420 million (down 2.7% year on year) and operating profit was ¥94 million (down 87.1% year on year).

      In the Other Businesses, net sales were ¥12,694 million (up 5.0% year on year) and operating profit was ¥435 million (up 34.5% year on year).

   2. Explanation on Financial Position

      Total assets as of December 31, 2025 were ¥272,589 million, an increase of ¥49,484 million from the end of the previous fiscal year. This was mainly attributable to an increase in cash and deposits.

      Total liabilities were ¥101,231 million, an increase of ¥13,955 million from the end of the previous fiscal year. This was mainly attributable to an increase in income taxes payable.

      Net assets were ¥171,358 million, and the equity-to-asset ratio was 60.5%, up 2.4 percentage points from the end of the previous fiscal year.

   3. Explanation on Consolidated Earnings Forecasts for the Fiscal Year

   After giving consideration to the operating results of the first nine months ended December 31, 2025, and the outlook for the business environment, the Company has upwardly revised its consolidated earnings forecasts for the fiscal year ending March 31, 2026.

   Revisions to the consolidated earnings forecasts for the fiscal year ending March 31, 2026 (April 1, 2025 to March 31, 2026)

   	Net sales	Operating profit	Ordinary profit	Profit attributable to owners of parent	Basic earnings per share
   Previous forecasts (A)	Millions of yen 120,000	Millions of yen 19,000	Millions of yen 18,500	Millions of yen 37,500	Yen 1,030.04
   Revised forecasts (B)	120,000	20,000	20,000	38,000	1,043.79
   Amount changed (B) - (A)	-	1,000	1,500	500
   Change (%)	-	5.3	8.1	1.3
   Results for the fiscal year ended March 31, 2025	109,035	16,445	17,568	12,837	352.61

2. Quarterly Consolidated Financial Statements and Significant Notes Thereto

(Millions of yen) As of March 31, 2025 As of December 31, 2025