Report on the Financial Results for Fiscal Year Ended March 31, 2025 (1,000KB)

May 19, 2025

1. FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

2. Analysis of Results and Plans for Each Division

3. Medium- to Long-term Management Plan

4. Company Overview and Business Profile

* Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.

1. FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

2. Analysis of Results and Plans for Each Division

3. Medium- to Long-term Management Plan

4. Company Overview and Business Profile

* Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.

FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

Results for Year Ended 03/2025 Plan for Year Ending 03/2026

• Orders received grew significantly in the Electronics Industry for Taiwan, but the investment plans in Japan, China, and Southeast Asia have been delayed more than expected, which has also had an impact.

• Net sales increased thanks to strong performance in Service Solutions and Performance Products, as well as growth in the Plant Division, which continued to receive large-scale projects. This was affected by progress on construction falling slightly below expectations in the previous forecast.

• Operating profit increased due to improved profit margins in Plant projects against the backdrop of a favorable order environment as well as the effect of sales growth.

• Orders received plan to include several large semiconductor projects in Japan, Taiwan, the United States, and Europe. We will closely monitor tariff policy trends in the United States.

• The plan calls for the expansion of sales of Service Solutions and Performance Products, in addition to progress on construction of Plant projects for received orders.

• For operating profit, we expect SG&A expenses to increase, mainly due to personnel expenses. Through growing sales, we plan to maintain a level of profits similar to the previous fiscal year.

Assumptions for FY Ending 03/2026 Plan

(+19.0% YoY)

(+7.2% YoY)

(+1.2% YoY)

Against the backdrop of the United States' tariff policy and the observed turmoil in stock markets and currency exchange rate s, there are concerns about a global recession, and the outlook for the semiconductor market, which is our main market, is experiencing a strong sense of uncertainty. In some cases, investment plans are being considered for postponement or suspension, while in others, we are seeing moves to consider investment plans that exceed expectations, such as for cutting-edge semiconductors. At this point, the known developments have been reflected in the performance forecast. The indirect impact of an economic downturn is difficult to predict.

• Our business is centered on a "local production for local consumption" model, with cross-border transactions remaining at less than 10% of net sales and less than 20% of purchases in FY2024. Direct transactions with the United States are limited to the procurement of certain materials, and the effect of fluctuations in tariff rates is assumed to be minimal.

• Depending on the project, the amount of materials and equipment module units imported from outside the region may increase based on customer requirements and specifications. However, many cases involve the inclusion of transaction-related costs such as transportation costs and customs duties in the total cost, and the contract (sales) price is determined accordingly.

• Depending on market conditions and economic trends, the timing and scale of capital investment in the Plant Div. of Electronics may change, which could affect business performance. We are closely monitoring trends in projects.

• On the other hand, the Service Solutions Div. of Electronics, General Industry, Electric Power/Water Supply and Sewage, and Performance Products are less susceptible to the impact of market conditions. The Company has maintained relatively high profit levels and is expected to provide a stable revenue base.

25%

Service Solutions Div.

of Electronics

Consolidated

net sales

¥163.2 billion

Plant Div. of

Electronics

35%

General Industry, Electric Power/Water Supply and Sewage, Performance Products 40%

03/2025

FY Ended 03/2025: Overview of Orders, Sales, and Operating Profit

+1.4

+1.0

-0.9

-5.2

155.0

+0.8

+1.5 151.2

+4.4

144.4

+6.8

YoY

-3.7

vs. Plan

03/2024

03/2025

Initial Plan

• Electronics Industry

• General Industry

• Electric Power/Water Supply and Sewage  Performance Products

(Billions of yen)

+1.1

+0.7

+2.6

163.2

+1.6

+8.3

-0.6

155.0

150.3

+12.9

YoY

+8.2

vs. Plan

03/2024

03/2025

Initial Plan

• Electronics Industry

• General Industry

• Electric Power/Water Supply and Sewage  Performance Products

+7.1

22.5

+7.5

+3.7

-2.7

31.1

+6.7

+2.4

-1.0

23.0

+8.5

YoY

+8.1

vs. Plan

03/2024

03/2025

Initial Plan

• Difference in Profit Margin  Difference in Net Sales  Increase in SG&A

Total 電子産業 一般産業 電力・上下水

Total 電子産業 一般産業 電力・上下水

[Orders]

In the Electronics Industry, large-scale investments in cutting-edge semiconductors remained active in Taiwan. On the other hand, in Japan, China, and Southeast Asia, large-scale projects were postponed from the initial assumptions, which also affected the results.

There was strong performance in General

Industry and Performance Products.

[Sales]

Sales of Service Solutions for the Electronics Industry grew steadily in line with the expansion of the Plant business. General Industry also grew centered on Service Solutions. Sales of Performance Products grew due to strong sales of water treatment chemicals and functional materials for semiconductors.

[Operating Profit]

Total 利益率差 売上差

Profitability at the time of order receipt for Plant projects improved thanks to a favorable order environment. The expansion of relatively high-profit margin Service Solutions and Performance Products also contributed to the increase. SG&A expenses increased, mainly due to personnel expenses, outsourcing expenses, and digital investments.

FY Ended 03/2025: Consolidated Statement of Income

FY Ended 03/2025

Previous

Initial Plan

Forecast (02/05/2025)

(Millions of yen)

FY Ended 03/2024

Full-year

Actual

FY Ended 03/2025: Results by Segment

Vs.

FY Ended 03/2025: Consolidated Balance Sheet

FY Ending 03/2026: Overview of Full-year Plan

+0.8

180.0

151.2

-0.5

+28.7

YoY

03/2025

03/2026

• Electronics Industry

• General Industry

• Electric Power/Water Supply and Sewage  Performance Products

+28.2

(Billions of yen)

+0.6

+1.9

+9.5

175.0

163.2

+11.7

YoY

03/2025

03/2026

• Electronics Industry  General Industry

• Electric Power/Water Supply and Sewage  Performance Products

+3.9

31.1

-0.6

-2.9

31.5

+0.3

YoY

03/2025

03/2026

• Difference in Profit Margin  Difference in Net Sales  Increase in SG&A

Total 電子産業 一般産業 電力・上下水

Total 電子産業 一般産業 電力・上下水

[Orders]

Although the outlook for market conditions remains uncertain due to factors such as the United States' tariff policy, the plan assumes that orders will be received for large-scale semiconductor projects planned in Japan, Taiwan, the United States, and Europe. General Industry and Electric Power/Water Supply and Sewage are expected to be at the same level of orders as the previous fiscal year.

[Sales]

In the Electronics Industry, Plant sales are expected to grow due to an increase in orders, and Service Solutions are also expected to expand. The plan calls for progress on construction and growth in maintenance for Plant projects in General Industry. Sales of Performance Products will expand, centered on water treatment chemicals and functional materials.

[Operating Profit]

Total 利益率差 売上差

Gross profit margins for both Water Treatment Engineering and Performance Products are expected to be at the same level as the previous fiscal year. The plan calls to cover the aggressive expansion of SG&A expenses, such as personnel expenses and DX/RD investments, with the effects of increased sales. The plan assumes that operating profit will be slightly higher than the previous fiscal year.

FY Ending 03/2026: Consolidated Statement of Income (Plan)

FY Ending 03/2026: Plan by Segment

1. FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

2. Analysis of Results and Plans for Each Division

3. Medium- to Long-term Management Plan

4. Company Overview and Business Profile

* Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.

Trends in Orders Received, Net Sales, Order Backlog, and

Operating Profit (Quarterly, Annual)

(Billions of yen)

Orders Received

Net Sales

Order Backlog

Operating Profit

112.9

107.4

120.8 117.6

132.8 125.2 115.6

122.7

137.6

116.4

51.8

139.2

52.7

105.7

46.5

48.6

42.5

40.7

34.2

27.8 26.3

33.0

37.2

33.5

29.6

44.1

35.5

47.5

40.0

42.7

41.3

35.8 32.7

31.6

33.3

8.3

7.4

25.2

4.2

5.2

6.3

11.3

4.9

4.0

8.2

2.2

3.4

2.8

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

03/2023 03/2024 03/2025

Orders Received

Net Sales

Order Backlog

173.4

Operating Profit

180.0

175.0

135.6

163.2

150.3151.2

144.4

132.4

81.1

74.0

88.0

79.2

103.8

92.2

104.9

112.0

96.5 94.5

100.6

117.6

115.6

110.7

59.3

67.8

105.7

61.8 86.4

39.2

48.3

22.5

31.1 31.5

4.1

3.8

6.5

9.9

9.5

10.8

15.2

03/2017 03/2018 03/2019 03/2020 03/2021 03/2022 03/2023 03/2024 03/2025 03/2026

(Plan)

[Trends in quarterly results]

Orders received fluctuated due to trends in large projects. Sales are recorded according to the degree of completion of construction work, however, there are many projects with deadlines at the end of the fiscal year, and sales tend to increase moving towards the end of the fourth quarter. Operating profit is also affected by factors including fluctuations in estimated project costs and negotiations regarding additional payments due to changes or additions to specifications. Profit margins tend to improve, and profits tend to increase toward the end of the fiscal year.

[Trends in annual results]

Business performance has improved since 2018, when semiconductor investment picked up in Taiwan and other countries. The order environment improved thanks to continued high levels of capital investment. We were able to focus on high value-added projects. In addition, the growing scale of investment and rising prices of raw materials and construction, etc. boosted the rise in order prices and improvements to profitability. Increase in Plant deliveries led to growth in Service Solutions and Performance Products, such as maintenance and consumables.

Trends in Orders and Sales by Region

(Millions of yen)

Domestic

Overseas Ratio

Overseas

Domestic

Overseas Ratio

Overseas

180,000

144,468

155,000

151,272

150,356

155,000

163,269

175,000

75,000

34,513 53,000

109,955

23.9%

34.2%

59,582

39.4%

53,811

58,000

63,043

66,000

41.7%

35.8%

37.4%

38.6% 37.7%

102,000

91,688

105,000

100,225

109,000

96,544 97,000

03/2024 03/2025 03/2025 03/2026 03/2024 03/2025 03/2025 03/2026

(Plan) (Actual) (Plan) (Plan) (Actual) (Plan)

SE Asia/Europe and the US

China Taiwan

75,000

SE Asia/Europe and the US

China Taiwan

63,043

66,000

53,000

59,582

6,885

9,319

58,000

25,000

53,811

14,645

16,000

12,000

15,260

16,000

34,513

10,748

8,176

13,000

20,543

16,000

14,000

17,000

19,996

43,378 37,000

27,000

25,000

27,854

34,000

15,589

18,555

03/2024 03/2025 03/2025 03/2026 03/2024 03/2025 03/2025 03/2026

(Plan) (Actual) (Plan) (Plan) (Actual) (Plan)

• Although large-scale investments in Japan were postponed more than assumed in FY ended 03/2025, increased orders from overseas, particularly Taiwan, contributed to the results. Sales grew steadily both in Japan and overseas.

• During the FY ending 03/2026, the plan calls for both orders and sales growth in Japan and overseas, with large-scale semiconductor-related projects assumed to be received in Japan, Taiwan, Europe, and the United States.

• During FY ended 03/2025, orders from Taiwan grew significantly, while China and Southeast Asia were affected by investment postponements. Sales are expanding in all regions, and there are carried-over order backlogs.

• Orders in Taiwan will settle down somewhat in FY ending 03/2026, but the plan calls for orders to be received for large-scale projects in the United States and Europe. Sales are expected to grow steadily.

  Trends in Sales by Business Segment and Department

  (Millions of yen)

  Plant

  Service Solutions

  Service Solutions Ratio

  138,130

  149,200

  126,393

  131,500

  68,931

  73,000

  57,644

  63,000

  45.6%

  47.9%

  49.9%

  48.9%

  68,749

  68,500

  69,199

  76,200

  03/2024

  03/2025

  (Plan)

  03/2025

  (Actual)

  03/2026

  (Plan)

  Water Treatment Engineering Unit: Sales by Department

Food Products

Standard Equipment and Functional Materials

Chemicals

23,962

23,500

25,139

25,800

5,200

6,257

4,800

5,967

9,116

9,800

10,001

10,400

8,589

8,900

9,170

10,200

03/2024

03/2025

(Plan)

03/2025

(Actual)

03/2026

(Plan)

• • During FY ended 03/2025, the Plant increased thanks to progress on the construction of projects, and Service Solutions also expanded steadily in areas such as maintenance and facility-owned services.

  • The plan also assumes Plant expansion in Electronics Industry and General Industry for FY ending 03/2026. The plan calls for the expansion of the Service Solutions business for the electronics industry in Taiwan, China, etc.

• The plan calls for expansion of sales of wastewater treatment chemicals such as wastewater treatment and RO membrane treatment for semiconductor factories, and functional materials for advanced separation and refinement of semiconductor materials. Standard Equipment operations will be increased in Taiwan, China, etc. In the Food Products segment, we continued streamlining low-profit transactions as we did in FY ended 03/2025.

  * Separation and refinement business, which was included in Service Solutions in the Water Treatment Engineering Unit until last fiscal year has been reclassified to Equipment and Functional Materials in the Performance Products Business Unit.

  Water Treatment Engineering Unit: Trends in Orders and Sales by Market

  (Millions of yen)

  Electronics Industry General Industry Electric Power/Water Supply and Sewage

  120,420

  131,500

  12,000

  11,056

  03/2024

  03/2025

  (Plan)

  03/2026

  (Plan)

  03/2025

  (Actual)

  78,246

  82,736

30,986

32,534

31,500

11,188

32,000

11,200

126,327

154,200

Electronics Industry General Industry Electric Power/Water Supply and Sewage

126,393

10,633

131,500

12,000

11,396

03/2024

03/2025

(Plan)

03/2026

(Plan)

03/2025

(Actual)

89,500

88,292

30,000

27,469

30,083

32,000

149,200

11,000

138,130

(Millions of yen)

Domestic

Overseas

Ratio of Electronics (to consolidated orders received)

111,380

111,000

72,060

88,000

78,246

29,427

82,736

70,000

44,500

53,360

64.2%

54.2%

56.8%

54.7%

61.7%

39,320

48,819

43,500

29,376

41,000

03/2023

03/2024

03/2025

(Plan)

03/2025

(Actual)

03/2026

(Plan)

Trends in Cash Flow and Facility-owned Services

(Billions of yen)

Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities

EBITDA (Operating profit + Depreciation)

28.8

38.4

Single year investment

Balance of investment in leases and

related work in progress

61.9

40.9

30.2

35.1

27.2

14.5

9.8

10.9

03/2023 03/2024 03/2025 03/2026

(Plan)

Facility-owned services sales

17.0

13.1

6.6

9.6

03/2023 03/2024 03/2025 03/2026

(Plan)

39.8

03/2026

Reclassification of the planned investment of

¥27.2 billion

13.5 32.0

-0.6

03/2024 Reclassification

-13.1

-20.8

25.5

-30.0

4.5

of investment of ¥9.8 billion in facility-owned projects from Cash Flow from Operating Activities to Cash Flow from Investing Activities

03/2025 Reclassification

of ¥10.9 billion invested

03/2024 03/2025

03/2026 (Plan)

• Sales of facility-owned services grew steadily. When investing, profitability was

  evaluated using ROIC, IRR, etc. A certain level of profitability was achieved.

  • On top of trends in business performance, our cash flow is significantly impacted by progress on the construction of large-scale projects and the collection of payments for them.

  • During FY ending 03/2026, Cash Flows from Operating Activities will remain at a high level due to payments received for Plant projects and collections from facility-owned projects. Investments into facility-owned projects are also expanding.

  • Investments in facility-owned projects are recorded in Investments in leases (work in progress during construction) and depreciated over the contract period. Since they are included in current assets, the investment amount is recorded as Cash Flow from Operating Activities in the statement of cash flow. In the graph on the left, investment in facility-owned services has been reclassified as Cash Flows from Investing Activities.

Key Indicators

(Millions of yen)

FY Ended 03/2024 FY Ended 03/2025 FY Ending 03/2026

* Capital expenditures and depreciation do not include investments and depreciation associated with facility-owned services.

1. FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

2. Analysis of Results and Plans for Each Division

3. Medium- to Long-term Management Plan

4. Company Overview and Business Profile

* Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.

21.7

(Billions of yen, %)

ROE

14.5

18.4

18.8

17.2

13.8

15.0

10.6

8.7

ROIC

224.0

12.0

250.0

Net Sales

132.4

150.3

163.2

175.0

200.0

155.0

165.0

175.0

45.0

Operating Profit

15.2

31.1

22.523.0

31.5

24.0

36.8

30.0

26.0

03/2023 03/2024 03/2025 03/2026 03/2027 03/2028

03/2031

03/2023-03/2025 New Medium- to Long-term Management Plan

Actual (03/2026-03/2031)

Net Sales

Operating Profit

Ratio

ROE

ROIC

* ROIC is calculated as NOPAT (operating profit after tax) divided by invested capital (accounts receivable + inventories + facility-owned

related assets and fixed assets)

15-18%

Set a target of 18% or higher, with 15% as

the minimum target

15% or higher

Due to the slowdown in growth speed, a

decline is expected, but it is expected to remain stable at 15% or higher 12% or higher

Continuing to improve the efficiency of

working capital, such as accounts receivable

and inventories, to maintain 12% or higher

¥250.0 billion or more

(03/2025-03/2031 CAGR 7% or higher)

ORGANO2030 Achievement Targets

(FY Ending 03/2031)

Medium- to Long-term Management Plan: Plan Overview

Medium- to Long-term Management Plan:

Reorganization of Issues and Initiatives for ORGANO2030

[Business]

Water Treatment Engineering & Performance Products

[Focused Areas]

Electronics industry market

strategy Service Solutions

strategy

Global strategy Allocation strategy

strategy

ntellectual propert

development and

i y

Strengthening technology

Strengthening our engineering

systems

Strengthening domestic and

overseas bases

strategy

Human resources strategy

Digital ESG strategy

Financial

strategy

Business Growth Strategy: Plan by Department

(Billions of yen)

Business growth strategy

Electronics Industry

Other

Expansion

We will promote business expansion, technological innovation, and area expansion with the expansion into the Electronics Industry, such as semiconductors, as a growth driver. We will engage in strengthening our engineering systems, developing next-generation technologies, and expanding into new regions.

In addition to building a service network for domestic and overseas delivery equipment, we are working on expanding our service menu and Performance Products to strengthen our proposal capabilities that lead to resolving the challenges of our customers such as energy conservation, decarbonization, and saving labor.

Centered on the Electronics Industry, we will expand our business in line with the expansion of our customers in the United States and Europe, while considering expansion into areas where we have not yet entered, such as South Korea, and regions where growth is expected, such as India.

To strengthen the execution of strategies, we will clarify resource allocation and prioritize personnel and investment resources in line with our business growth strategies, and promote initiatives with greater clarity than ever before.

in the

E s

224.0

96.6

163.2

146.1

250.0

163.2

224.0

100.0

+6.4%)

115.0

(+8.9%

Service Solutions

Plant

Performance Products

250.0

25.1

69.1

68.9

86.5

(+7.9%)

) 163.2

Overseas Domestic

224.0

109.0

(+20.0%)

250.0

120.0

(+11.3%)

lectronic

Industry

Strengthening Service Solutions

(

(+14.8%)

77.8

90.0

)

160.0

+8.8%

108.9 (

(+16.3%)

130.0

63.0

( (+4.4%)

Global

Expansion

+4.3%

28.5

(

Clarification

(+5.3%) (+5.1%)

03/2025 03/2028 03/2031

03/2025 03/2028 03/2031

) (

)

of allocation

03/2025 03/2028 03/2031

* Information within the ( ) is CAGR

Strengthening the Value Chain and Expanding Our Management Foundation

Strengthening

our engineering

systems

Strengthening technology development and intellectual property

strategy

Strengthening

domestic and

overseas bases

To strengthen our technological capabilities in next-generation ultrapure water and advanced separation and refinement, as well as our ability to propose solutions to customers that address issues such as stable plant operation and sustainability, we will enhance our product, technology, and service development systems and strengthen our intellectual property strategy to leverage these capabilities.

To strengthen our ability to propose and provide solutions to customers, we will strengthen our sales and maintenance network while working to develop new distributors and business partners, thereby strengthening our customer contacts

both in Japan and overseas.

We will expand our digital-related investments to improve the efficiency of plant engineering processes, globally expand human resources strategies such as securing and developing engineers and strengthen our supply chain, with

the aim of expanding our engineering capacity.

We will expand digital investment and advance the development and utilization of infrastructure for the collection and analysis of engineering data, such as equipment planning and design, and data related to equipment operation and maintenance.

We will promote management that links business activities and ESG initiatives and advance the enhancement of our management foundation, including safety, governance, and sustainability.

We will strengthen our financial base and accelerate growth investments to realize our business strategy. While working on the efficiency of working capital, we aim to balance the acceleration of growth investments such as

M&A and the expansion of shareholder return.

Digital strategy

ESG

strategy

Financial

strategy

We will expand globally human resources Human strategiessuch as engineer recruitment and skill resources enhancement, and digital talent development. In strategy addition, we will promote initiatives to improve

employee engagement.

Financial Strategy: Measures for Shareholder Return and Capital Allocation

Dividend Per Share (yen)

Dividend Payout Ratio (%)

170

30.2%

160

27.1%

32.3%

24.2%

30.5%

106

19.9%

102

62

40

03/2022 03/2023 03/2024

03/2025

(Initial Plan)

03/2025 03/2026

(Billions of yen)

78.1

Profit

＋

Depreciation and amortization expenses

71.2

Changes in

borrowings

6.9

Revenue

Increase strategic budget for investments in human resources, RD/DX, etc. by approximately 20.0 billion compared to FY Ended 03/2025

78.1

12.2Shareholder return

6.3 Capital expenditures

Facility-owned

investment

35.2

Changes in

working capital

24.4

Expenditures

Profit

＋ Depreciation and amortization expenses

90.0-100.0

Changes in

borrowings

20.0-30.0

Revenue

Shareholder return 20.0-30.0

Capital expenditures M&A, etc.

30.0-40.0

Facility-owned

investment

30.0-40.0

Changes in

w al

10.0-20.0

Expenditures

orking capit

• For FY ended 03/2025, we revised our dividend forecast upward in line with improved business performance, raising the annual dividend to ¥160 (dividend payout ratio: 30.5%). For FY ending 03/2026, the plan calls for continued increasing dividends to ¥170 (dividend payout ratio: 32.3%).

• We aim to maintain a dividend payout ratio of 30% or higher while continuing to increase dividends. We aim to balance and expand shareholder returns and growth investments.

• Revenue is expected to increase due to growing sales and full-scale collection of facility-owned services. We plan to actively expand growth investments such as personnel expenses, DX/RD investments, capital investments, and M&A. Investment in facility-owned services also increased.

• We will work to optimize working capital by improving the efficiency of accounts receivable and inventories, and undertake efforts to shorten the cash conversion cycle. We will continue to increase shareholder return through higher dividends and an improved dividend payout ratio.

  Financial Strategy: Stock Price Trends and Capital Costs

  Trends in share price, capital cost, and ROE

14.8%

Net income

ratio

0.87

turnover

Asset turnover

ratio

1.69

times

Financial

leverage

• Breakdown of ROE (03/2025)

Stock Price on Last Day of Fiscal Year (yen)

PER

PBR 7,700

20.4

6,370

12.6 14.1

10.8

3,605

2,533

1,660

1.1

1.5

1.9

3.5

12.1

2.4

03/2021 03/2022 03/2023 03/2024 03/2025

ROE(%) Cost of equity (%)

21.7

18.4

14.5

11.1

12.9

8.9

6.1

6.8

7.7

7.5

03/2021 03/2022 03/2023 03/2024 03/2025

ROE

＝

× ×

In our Medium- to Long-term Management Plan, we aim to establish a system that enables us to stably record an ROE of 15% or higher. While maintaining financial soundness, we will work to improve profitability, improve management efficiency, and expand growth investments.

Profitability

We will promote the stabilization of our revenue base by expanding our relatively high-margin Service Solutions and

Performance Products.

We will actively engage in

investments to expand

Growth capacity, such as increasing

investment personnel expenses, as well

as growth investments such

as M&A.

Management

efficiency

We will work to shorten the cash conversion cycle by improving payment terms and reducing inventories.

Financial

soundness

We will work to expand

growth investments and

shareholder return while

maintaining financial

soundness.

exceed the cost of equity due to improved profitability.

* Cost of capital is calculated based on CAPM (Rf + β(Rm - Rf)) (Figures are for the FY ended 03/2025)

Rf (risk-free rate): Yield on long-term government bonds (10-year): 1.50%

β (β value): Stock price fluctuation rate (5 years, monthly, Levered): 1.16

Rm (market risk premium): 6.67%

1. FY Ended 03/2025 Results and Overview of FY Ending 03/2026 Plan

2. Analysis of Results and Plans for Each Division

3. Medium- to Long-term Management Plan

4. Company Overview and Business Profile

* Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.

Company Overview: Management Philosophy and Vision

• Management Philosophy

  Organo serves as a valuable partner company by leveraging its leading-edge technologies cultivated

  through long experience with water treatment, by contributing to the industries that create the future, and by playing a key role in the development of societal infrastructure.

• Long-term Management Vision

  At Organo, we seek to expand our business through high value-added separation and refinement as

  well as analysis and manufacturing technologies, and by providing products and services that promote

  the creation of value and which resolve the challenges that confront industry and society.

  We proactively contribute to a better tomorrow by cultivating people today who will improve upon the way things were done yesterday, as a company where all employees are energetic and passionate about their work.

• Sustainability Policy

  Together with its stakeholders, Organo aims to realize a sustainable society

  
  
  

  E

  Leveraging its leading-edge technologies cultivated through long experience with water treatment*, Organo provides environmentally-friendly products and services that contribute to water environment conservation and prevention of global warming.

  for the future and improve our corporate value.

  
  
  

  S

  We will respect human rights, diverse values, and individuality while promoting the creation of a workplace where each and every employee can grow and flourish.

  Representative Director and President

  G

  We will carry out our corporate activities with integrity and fairness, emphasizing dialogue and cooperation with all stakeholders.

  * Leveraging its leading-edge technologies cultivated through long experience with water treatment refers to our pursuit of water treatment-related separation and refinement, analysis, and engineering technologies, and our provision of optimal systems and services that meet the needs of society through a combination of these technologies.

  Company Overview: Organo's History (Changes in Sales)

  Development

  Growth

  Evolution

  Expansion

  • Historical sales

1990's~

| Ultrapure water facilities for the electronics industry

2000's~

| Overseas development

| Strengthening of Service Solutions

2010's~

| Semiconductor market expansion Taiwan/China markets growth

1970's~

1980's~

| Water treatment facilities for power plants

■

■

Established a China

■

Established

a U.S. subsidiary

(2021)

1960's~

| Large-scale pure

| Water supply and

sewage facilities

Established a Malaysia

subsidiary

subsidiary

(2003)

■

Established a

water equipment for

| Refining facilities for

(1986)

Vietnam subsidiary

Founded 1946

| Athermal water

general industry

sugar solutions, other

Entered the Taiwan market

■

Established

(2010)

distillation equipment

(1990's~)

a Taiwan subsidiary

(2005)

1960 1970 1980 1990 2000 2010

2020

2024