Consolidated Financial Results for the Three Months of the Fiscal Year Ending December 31, 2026 (Under Japanese GAAP)

April 30, 2026

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, Managing Executive Officer and Head of Administrative Division

TEL: +81-3-3624-5119

Scheduled date for dividend payment: None

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 Three Months of the Fiscal Year Ending December 31, 2026 (from January 01, 2026 to March 31, 2026)
   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
      Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      March 31, 2026	16,436	2.7	528	(46.1)	579	(45.1)	534	(28.1)
      March 31, 2025	15,997	2.1	981	22.6	1,055	23.6	743	28.5

      (Note) Comprehensive income for the first quarter of the fiscal year ending December 2026: 1,541 million yen ((37.6)%); for the first quarter of the fiscal year ending December 2025: 2,470 million yen (768.7%)

      	Basic earnings per share	Diluted earnings per share
      Three months ended	Yen	Yen
      March 31, 2026	11.78	-
      March 31, 2025	16.12	-

   2. Consolidated financial positions

      	Total assets	Net assets	Equity to total assets ratio
      As of	Million yen	Million yen	%
      March 31, 2026	85,124	61,802	72.6
      December 31, 2025	85,030	61,906	72.8

      (Reference) Owner's equity for the first quarter of the fiscal year ending December 31, 2026: 61,783 million yen; for the fiscal year ending December 31, 2025: 61,888 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, 2025 Fiscal year ending December 31, 2026	Yen	Yen	Yen	Yen	Yen
   	- -	20.00	-	21.00	41.00
   Fiscal year ending December 31, 2026 (Forecast)		21.00	-	21.00	42.00

   (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, 2026 (forecast) : Ordinary dividend: 16 yen; Special dividend: 5 yen

   Breakdown of year-end dividends for the fiscal year ended December 31, 2026 (forecast):

   Ordinary dividend: 16 yen; Special dividend: 5 yen

3. Consolidated Earnings Forecasts for the Fiscal Year Ending December 31, 2026 (from January 01, 2026 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. Application of specific accounting of the consolidated quarterly financial statements: Yes

     (Note) For details, please refer to page 8 of the attached materials, "Notes on accounting procedures specific 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 : None

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

     3. Changes in accounting estimates : None

     4. Retrospective restatement : None

  4. Number of shares issued (common stock)

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

        As of March 31, 2026	47,290,632 shares
        As of December 31, 2025	47,290,632 shares

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

        As of March 31, 2026	2,351,057 shares
        As of December 31, 2025	1,669,214 shares

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

        Three months ended March 31, 2026	45,388,444 shares
        Three months ended March 31, 2025	46,127,080 shares

        (Note) The "Number of treasury stock at the period end" includes shares of the Company held by the Stock Granting ESOP Trust (250,719 shares for the first quarter of the fiscal year ending December 2026, 252,802 shares for the fiscal year ending December 2025). In addition, shares of the Company held by the Stock Granting ESOP Trust are included in treasury stock deducted in the calculation of the "Average number of shares (cumulative for the quarter)" (251,731 shares for the first quarter of the fiscal year ending December 2026, 268,462 shares for the first quarter of the fiscal year ending December 2025).

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

• Notes regarding the appropriate use of forecasts and other special items (Cautionary Statement Regarding Forward-Looking Statements)

Forward-looking statements such as earnings forecasts contained in this document are based on information currently available to the Company and certain assumptions that the Company deems reasonable, and are not intended as a guarantee of their achievement. Actual results 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 Three Months Ended March 31, 2026 2

   2. Overview of Financial Position for the First Three Months Ended March 31, 2026 3

   3. Explanation Regarding Forecast for Fiscal Year Ending December 31, 2026 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 three-month period 6

      Quarterly Consolidated Statement of Comprehensive Income

      First three-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

(Additional information) 8

(Notes to quarterly consolidated statement of cash flows) 8

(Note to segment information) 8

(Note to significant events after the reporting period) 8

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1. Overview of Results of Operations, Etc.

   1. Overview of Results of Operations for the First Three Months Ended March 31, 2026

      During the first quarter of the current fiscal year (January 1, 2026 to March 31, 2026), the Japanese economy as a whole was on a gradual recovery track, with a pickup in consumer spending against a backdrop of improved employment and income conditions, as well as a gradual pickup in capital investment. On the other hand, the outlook remained uncertain due to factors such as continued price hikes, raw materials and energy price trends, U.S. trade policy trends, as well as heightened geopolitical risks stemming from the increasingly tense situation in the Middle East.

      In the Japanese construction industry, where the Okabe Group's core customers operate, public investment remained firm and private capital investment also picked up moderately, but there were signs of stagnation in floor space, mainly for reinforced concrete. In addition, labor costs remained high due to a chronic shortage of construction workers and steel material prices remained high. The business environment remained challenging chiefly.

      In this business environment, OX-2026 (Okabe Transformation 2026), the medium-term management plan, entered its final year.

      The plan outlines three business strategies: "customer-centric initiatives" (prioritizing the development of a system to solve customers' problems and the implementation of initiatives to solve them), "human capital management" and strengthening of the management foundation, and "DX" (Digital Transformation). The Group has been working to bring the plan to a successful conclusion with the aim of achieving sustainable growth and enhancing 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 business, sales of temporary building and formwork products remained sluggish amid a decline in the floor area of reinforced concrete construction projects, despite efforts to attract new customers. Meanwhile, net sales of building materials increased as a result of strong collaboration with distributors to capture demand.

         In civil engineering products and materials, net sales increased year on year as a result of efforts to capture demand for landslide prevention products against the backdrop of the government's policy to strengthen the national land infrastructure. In structural products and materials, net sales of our mainstay products, column base products, decreased from the same period of the previous year due to intensified competition and sluggish sales for large properties, although sales for small and medium-sized properties increased.

         In the building products and materials (overseas) business, net sales in the U.S. were strong compared to the same period of the previous year as a result of steady construction demand in the U.S. in anticipation of the expiration of the Infrastructure Investment and Jobs Act.

         As a result, net sales of construction-related products increased 5.2% year on year, to 15,153 million yen. Operating profit, on the other hand, was 426 million yen (down 41.8% year on year), reflecting changes in the sales mix and an increase in SG&A expenses such as sales commissions and personnel costs.

      2. Other businesses

Net sales of industrial machinery products decreased from the same period of the previous fiscal year, mainly due to a reactionary decline in sales of high-value-added products such as custom-made products in the same period of the previous fiscal year, although sales of mainstay products remained strong.

In marine material products, net sales decreased from the same period of the previous fiscal year due to a reactionary decline from large-scale projects in the same period of the previous fiscal year and the postponement of public works projects, despite efforts to win orders for the installation of large floating fish reef products, etc.

Net sales of automotive products decreased from the same period of the previous year, mainly due to a decline in the truck/trailer market.

As a result, net sales in the other business decreased 19.3% year on year to 1,283 million yen. On the profit front, operating profit decreased 58.9% to 102 million yen due to the impact of lower sales and the absence of high value-added products and large projects in the same period of the previous fiscal year.

Consequently, consolidated net sales for the first three months of the fiscal year under review increased 2.7% year on year, to 16,436 million yen, and consolidated operating profit declined 46.1% year on year, to 528 million yen. Consolidated ordinary profit decreased 45.1% year on year, to 579 million yen, and profit attributable to owners of parent dropped 28.1% year on year, to 534 million yen.

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