Consolidated Financial Results for the Nine Months of the Fiscal Year Ending December 31, 2025 (Under Japanese GAAP)

October 31, 2025

Company name: OKABE CO., LTD.

Stock exchange listings: Tokyo Stock Exchange

Stock code: 5959

URL: https://www.okabe.co.jp/

Representative: Hirohide Kawase, Representative Director, President and Chief Executive Officer

Contact: Hisanori Ekawa, Director, Operating Officer and Executive General Manager of Administrative Division

TEL: +81-3-3624-5119

Scheduled date for dividend payment: -

Supplementary materials for financial summaries:

None

Financial results briefing: None

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

1. Consolidated Financial Results for the Nine Months of the Fiscal Year Ending December 31, 2025 (from January 01, 2025 to September 30, 2025)
   1. Consolidated operating results (cumulative) (% represents the year-on-year change rate for the same quarter)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      September 30, 2025	51,247	3.3	3,670	16.2	3,893	15.7	2,776	19.0
      September 30, 2024	49,623	(14.7)	3,158	(7.6)	3,364	(5.3)	2,332	213.0

      (Note) Comprehensive income for the third quarter of the fiscal year ending December 31, 2025: 3,169 million yen ((20.7)%); for the third quarter of the fiscal year ending December 31, 2024: 3,999 million yen (73.0%)

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      September 30, 2025	60.59	-
      September 30, 2024	50.48	-

   2. Consolidated financial positions

      	Total assets	Net assets	Equity to total assets ratio
      As of	Million yen	Million yen	%
      September 30, 2025	85,232	60,325	70.8
      December 31, 2024	86,993	59,541	68.4

      (Reference) Owner's equity for the third quarter of the fiscal year ending December 31, 2025: 60,307 million yen; for the fiscal year ending December 31, 2024: 59,523 million yen

2. Cash dividends

   	Annual dividends per share
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   Fiscal year ended December 31, 2024 Fiscal year ending December 31, 2025	Yen	Yen	Yen	Yen	Yen
   	- -	15.00 20.00	- -	20.00	35.00
   Fiscal year ending December 31, 2025 (Forecast)				21.00	41.00

   (Note) 1. Presence of revisions from the most recently announced dividend forecast: None

   2. Breakdown of dividend at the end of the second quarter of the fiscal year ending December 31, 2025: Ordinary dividend: 15 yen; Special dividend: 5 yen

   Breakdown of year-end dividends for the fiscal year ended December 31, 2025 (forecast):

   Ordinary dividend: 16 yen; Special dividend: 5 yen

3. Consolidated Earnings Forecasts for the Fiscal Year Ending December 31, 2025 (from January 01, 2025 to December 31,

(% change represents the year-over-year change for the full year)

(Note) Correction of financial forecast from the most recent financial forecast: None

• Notes

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

  2. Applying of specific accounting of the consolidated quarterly financial statements: Yes

     (Note) For details, please refer to page 8 of the attached materials, "Notes to particular accounts procedures to the preparation of quarterly consolidated financial statements".

  3. Changes in accounting policies, Changes in accounting estimates, Retrospective restatement

     1. Changes in accounting policies due to revisions of accounting standards :Yes

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

     3. Changes in accounting estimates : None

     4. Retrospective restatement : None

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

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

        As of September 30, 2025	49,290,632 shares
        As of December 31, 2024	49,290,632 shares

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

        As of September 30, 2025	3,676,240 shares
        As of December 31, 2024	3,040,747 shares

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

        Nine months ended September 30, 2025	45,822,199 shares
        Nine months ended September 30, 2024	46,212,696 shares

        (Note) The "Number of treasury stock at the period end" includes the company's shares held by the "Stock Grant ESOP Trust Account" (259,922 shares for the 3Q of the fiscal year ending December 2025, 270,127 shares for the fiscal year ending December 2024). Additionally, the company's shares held by the "Stock Grant ESOP Trust Account" are included in the treasury stock deducted in the calculation of the "Average number of shares (quarterly period-YTD)" (264,722 shares for the 3Q of the fiscal year ending December 2025, 277,512 shares for the 3Q of the fiscal year ending December 2024).

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

• Notes for using forecasted information and Others

(Cautionary Statement Regarding Forward-Looking Statements)

The forward-looking statements, including performance forecasts, contained in this document are based on information currently available to the company and certain assumptions deemed reasonable. They are not intended as a promise of achievement by the company. Actual performance may differ significantly due to various factors.

• Index for Supplementary Information

1. Overview of Results of Operations, Etc. 2

   1. Overview of Results of Operations for the First Nine Months Ended September 30, 2025 2

   2. Overview of Financial Position for the First Nine Months Ended September 30, 2025 3

   3. Explanation Regarding Forecast for Fiscal Year Ending December 31, 2025 3

2. Quarterly Consolidated Financial Statements and Key Notes 4

   1. Quarterly Consolidated Balance Sheet 4

   2. Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income 6

      Quarterly Consolidated Statement of Income

      First nine-month period 6

      Quarterly Consolidated Statement of Comprehensive Income

      First nine-month period 7

   3. Notes to Quarterly Consolidated Financial Statements 8

(Note to going concern assumptions) 8

(Note to significant changes in shareholders' equity) 8

(Notes to particular accounts procedures to the preparation of quarterly consolidated financial statements) 8

(Notes to changes in accounting policies) 8

(Additional information) 9

(Notes to quarterly consolidated statement of cash flows) 9

(Note to segment information) 9

(Note to significant events after the reporting period) 9

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1. Overview of Results of Operations, Etc.

   1. Overview of Results of Operations for the First Nine Months Ended September 30, 2025

      During the first nine months of the current fiscal year (January 1, 2025 to September 30, 2025), the Japanese economy continued to show signs of a moderate recovery driven by improved employment and income conditions resulting from wage hikes and the effects of various policies. Nonetheless, continued caution was warranted regarding sluggish personal consumption given rising prices and increased downside risks to the economy associated with trends in U.S. trade policies.

      In the Japanese construction industry, where the Okabe Group's core customers operate, public investment was firm partly due to the effects of the supplementary budget, and the private investment was gradually recovering. However, the environment remained challenging chiefly due to soaring labor costs caused by a chronic shortage of construction workers and continued high steel material prices.

      In this business environment, under OX-2026 (Okabe Transformation 2026), the medium-term management plan, the Group set customer-centric initiatives (prioritizing the development of a system to solve customers' problems and the implementation of initiatives to solve them), implementing human capital management and strengthening the foundation of management, and promoting digital transformation. With these three strategies as the cornerstones of our business strategy, we have been working toward the sustainable development of the company and the enhancement of its corporate value.

      Operating results by business category of the Group are as follows.

      1. Construction-related products

         In the temporary building and formwork products and building materials, despite efforts to increase sales volume by expanding sales of products related to the new formwork method with single pipe, developing rental services, and running various campaigns, sales decreased from the same period of the previous year due to the stagnant trend in the floor area of reinforced concrete construction projects and construction delays caused by a shortage of construction workers.

         Net sales of civil engineering products and materials increased from the same period of the previous fiscal year thanks to efforts to capture demand for landslide prevention products, against the backdrop of the government's policy to strengthen the national land infrastructure, as well as orders for disaster recovery support projects.

         Net sales of structural products and materials increased from the same period of the previous year, despite a decrease in the floor area of steel-framed buildings, due to the start of sales of improved versions of column base product (Select Base) for steel-framed buildings, the capture of demand for large properties, and the strengthening of sales for small and medium-sized properties.

         In the building products and materials (overseas) business, net sales in the U.S. increased compared to the same period of the previous year, mainly due to infrastructure-related construction demand.

         As a result, sales in the construction-related products segment increased 1.9% year on year, to 46,473 million yen, and operating profit increased 6.9% year on year, to 3,019 million yen.

      2. Other businesses

Net sales of industrial machinery products increased year on year as a result of efforts to expand sales of high value-added products such as custom-made products that meet customer needs.

Net sales of marine material products increased from the same period of the previous fiscal year due to strong sales of large floating fish reef products.

Net sales of automotive products increased compared with the same period of the previous year, despite continued instability in the truck/trailer market, due to price responses based on the impact of tariffs and stepped up sales efforts to major customers. As a result, sales in the other businesses segment increased 19.0% year on year, to 4,773 million yen, and operating profit increased 94.2% year on year, to 650 million yen.

Consequently, consolidated net sales for the first nine months under review increased 3.3% year on year, to 51,247 million yen, and consolidated operating profit expanded 16.2% year on year, to 3,670 million yen. Consolidated ordinary profit rose 15.7% year on year, to 3,893 million yen, and profit attributable to owners of parent grew 19.0% year on year, to 2,776 million yen.

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