Oki Electric Industry : First half (Apr. 2025 - Sept. 2025)

(Translation)

November 6, 2025

(Amounts less than one million yen have been truncated)

1. Consolidated Financial Results for the Six Months Ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

   1. Consolidated operating results (cumulative)

      (Percentage figures indicate year-on-year change)

      	Net sales		Operating income		Ordinary profit		Profit attributable to owners of parent
      	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      Six months ended September 30, 2025	179,396	(9.2)	1,207	(80.4)	853	(80.9)	587	(75.3)
      September 30, 2024	197,664	13.0	6,156	513.4	4,471	835.0	2,380	736.5

      (Note) Comprehensive income Six months ended September 30, 2025: ¥3,733 million (826.3%)

      Six months ended September 30, 2024: ¥403 million ((92.8)%)

      	Basic earnings per share	Diluted earnings per share
      Six months ended September 30, 2025	Yen	Yen
      	6.77	6.77
      September 30, 2024	27.45	27.43

   2. Consolidated financial position

      	Total assets	Net assets	Shareholders' equity ratio
      	Millions of yen	Millions of yen	%
      As of September 30, 2025	393,040	145,523	37.0
      As of March 31, 2025	410,965	145,745	35.4

      (Reference) Shareholders' equity As of September 30, 2025: ¥145,430 million

      As of March 31, 2025: ¥145,622 million

2. Dividends

   	Dividend per share
   	First quarter-end	Second quarter-end	Third quarter-end	Year-end	Total
   Fiscal year ended March 31, 2025	Yen	Yen	Yen	Yen	Yen
   	-	0.00	-	45.00	45.00
   Fiscal year ending March 31, 2026	-	0.00
   Fiscal year ending March 31, 2026 (Projection)			-	50.00	50.00

   (Note) Revisions to dividend projection most recently announced: None

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

   (Percentage figures indicate year-on-year change)

   	Net sales		Operating income		Ordinary profit		Profit attributable to owners of parent		Basic earnings per share
   Full year	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	440,000	(2.8)	19,000	2.0	17,000	1.1	16,000	28.2	184.47

   (Note) Revisions to operating results projection most recently announced: Yes

   Notes:

   1. Significant changes in the scope of consolidation during the period: None Newly included: - companies (Company name)

      Excluded: - companies (Company name)

   2. Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None

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

      1. Changes in accounting policies due to revisions to accounting standards and other regulations: None

      2. Changes in accounting policies due to other reasons: None

      3. Changes in accounting estimates: None

      4. Restatements: None

   4. Number of shares issued (common stock)

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

         As of September 30, 2025	87,217,602 shares
         As of March 31, 2025	87,217,602 shares

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

         As of September 30, 2025	470,854 shares
         As of March 31, 2025	507,427 shares

      3. Average number of shares during the period

• Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.

• Proper use of earnings forecasts, and other special matters (Warning on forward-looking statements)

The forward-looking statements including the projection for the financial results contained in this document are based on information currently available to the Company and certain assumptions that the Company deems to be reasonable, and actual results may differ from such statements due to a variety of factors.

(How to obtain supplementary document on financial results)

The Company is scheduled to hold a financial results briefing for institutional investors on November 6, 2025 (Thursday). The document on financial results is disclosed on TDNet at the same time as this Summary of Consolidated Financial Results and is also made available on the Company's website on the same day.

1. Semi-annual Consolidated Balance Sheets

   		(Millions of yen)
   As of March 31, 2025		As of September 30, 2025
   Assets
   Current assets
   Cash and deposits	36,865	28,987
   Notes and accounts receivable - trade, and contract assets	112,215	87,473
   Finished goods	18,441	23,657
   Work in process	15,122	20,803
   Raw materials and supplies	31,436	31,033
   Other	17,915	20,172
   Allowance for doubtful accounts	(118)	(9)
   Total current assets	231,878	212,117
   Non-current assets
   Property, plant and equipment	60,288	58,370
   Intangible assets	18,153	18,517
   Investments and other assets
   Investment securities	38,380	41,680
   Other	62,264	62,353
   Total investments and other assets	100,645	104,034
   Total non-current assets	179,086	180,922
   Total assets	410,965	393,040
   Liabilities
   Current liabilities
   Notes and accounts payable - trade	61,429	53,252
   Short-term borrowings	41,390	53,101
   Provisions	6,861	6,144
   Other	57,311	48,719
   Total current liabilities	166,992	161,218
   Non-current liabilities
   Long-term borrowings	56,773	46,071
   Provisions	1,074	897
   Retirement benefit liability	27,100	26,061
   Other	13,278	13,268
   Total non-current liabilities	98,226	86,298
   Total liabilities	265,219	247,516
   Net assets
   Shareholders' equity
   Share capital	44,000	44,000
   Capital surplus	18,940	18,919
   Retained earnings	83,501	80,146
   Treasury shares	(713)	(662)
   Total shareholders' equity	145,728	142,403
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	7,769	10,951
   Deferred gains or losses on hedges	(126)	(65)
   Foreign currency translation adjustment	(7,301)	(7,139)
   Remeasurements of defined benefit plans	(448)	(718)
   Total accumulated other comprehensive income	(105)	3,026
   Share acquisition rights	44	13
   Non-controlling interests	78	80
   Total net assets	145,745	145,523
   Total liabilities and net assets	410,965	393,040

2. Semi-annual Consolidated Statements of Income and Comprehensive Income (Semi-annual Consolidated Statements of Income)

   (For the Six Months Ended September 30, 2024 and 2025)

   		(Millions of yen)
   	Six months ended September 30, 2024	Six months ended September 30, 2025
   Net sales	197,664	179,396
   Cost of sales	146,895	135,899
   Gross profit	50,768	43,496
   Selling, general and administrative expenses	44,611	42,288
   Operating profit	6,156	1,207
   Non-operating income
   Interest income	513	557
   Dividend income	846	865
   Miscellaneous income	256	586
   Total non-operating income	1,616	2,009
   Non-operating expenses
   Interest expenses	1,109	937
   Foreign exchange losses	892	-
   Miscellaneous expenses	1,299	1,427
   Total non-operating expenses	3,301	2,364
   Ordinary profit	4,471	853
   Extraordinary income
   Gain on sale of investment securities	-	1,190
   Total extraordinary income	-	1,190
   Extraordinary losses
   Extra retirement payments	570	725
   Total extraordinary losses	570	725
   Profit before income taxes	3,901	1,317
   Income taxes - current	710	367
   Income taxes - deferred	801	352
   Total income taxes	1,511	720
   Profit	2,389	596
   Profit attributable to non-controlling interests	9	9
   Profit attributable to owners of parent	2,380	587

   (Semi-annual Consolidated Statements of Comprehensive Income) (For the Six Months Ended September 30, 2024 and 2025)

   (Millions of yen)
   Six months ended September 30, 2024	Six months ended September 30, 2025
   Profit	2,389	596
   Other comprehensive income
   Valuation difference on available-for-sale securities	(1,643)	3,179
   Deferred gains or losses on hedges	(61)	60
   Foreign currency translation adjustment	8	165
   Remeasurements of defined benefit plans, net of tax	(289)	(270)
   Share of other comprehensive income of entities accounted for using equity method	(1)	1
   Total other comprehensive income	(1,986)	3,136
   Comprehensive income	403	3,733
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	389	3,720
   Comprehensive income attributable to non-controlling interests	13	13

3. Semi-annual Consolidated Statements of Cash Flows