Consolidated Financial Results for the Three Months Ended February 28, 2026（April 10, 2026 307KB）

April 10, 2026

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended February 28, 2026 (from December 1, 2025 to February 28, 2026)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Three months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      February 28, 2026	9,072	6.5	1,832	34.2	1,904	28.6	1,285	24.2
      February 28, 2025	8,516	20.5	1,365	135.2	1,480	131.3	1,035	71.6

      Note: Comprehensive income	For the three months ended February 28, 2026:	¥	3,114 million [	272.9%]
      	For the three months ended February 28, 2025:	¥	835 million [	(28.3) %]

      	Basic earnings per share	Diluted earnings per share
      Three months ended	Yen	Yen
      February 28, 2026	63.22	-
      February 28, 2025	49.96	-

   2. Consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio
   As of	Millions of yen	Millions of yen	%
   February 28, 2026	65,452	52,916	79.4
   November 30, 2025	63,713	50,536	78.0

   Reference: Equity

   As of February 28, 2026:	¥	51,946 million
   As of November 30, 2025:	¥	49,700 million

2. Cash dividends

   	Annual dividends per share
   	First quarter-end	Second quarter-end	Third quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended	-	35.00	-	40.00	75.00
   November 30, 2025
   Fiscal year ending	-
   November 30, 2026
   Fiscal year ending November 30, 2026 (Forecast)		40.00	-	40.00	80.00

   Note: Revisions to the forecast of cash dividends most recently announced: None

   Note: Breakdown of the first quarter dividend for the fiscal year ending November 30, 2026 : Commemorative dividend - yen

   Special dividend - yen

3. Consolidated financial result forecasts for the fiscal year ending November 30, 2026 (from December 1, 2025 to November 30, 2026)

(Percentages indicate year-on-year changes.)

Note: Revisions to the financial result forecast most recently announced: None

(4) Number of issued shares (common shares)

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

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

〇 Contents of Attachments

1. Overview of Results of Operations 2

   1. Results of Operations for the Period under Review 2

   2. Financial Position for the Period under Review 3

   3. Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements 3

2. Quarterly Consolidated Financial Statements and Primary Notes 4

   1. Quarterly Consolidated Balance Sheet 4

   2. Quarterly Consolidated Statements of Income and Comprehensive Income 6

   3. Notes to Quarterly Consolidated Financial Statements 8

Going Concern Assumption 8

Notes to Quarterly Consolidated Statements of Cash Flows 8

Changes in Scope of Consolidation or Scope of Application of Equity Method 8

Segment and Other Information 8

Significant Subsequent Events 9

1. Overview of Results of Operations
   1. Results of Operations for the Period under Review

      During the three months ended February 28, 2026, the Japanese economy showed a moderate recovery trend against the backdrop of the improvement in the employment and income environment, with signs of a pickup in personal consumption and capital investment. On the other hand, the outlook remains uncertain due to the continued rise in prices, trends in raw material and energy prices, the increasing geopolitical risks stemming from the escalating situation in the Middle East, as well as foreign exchange fluctuations, overseas economic conditions, and developments in trade policies in various countries.

      Under these circumstances, we launched the new medium-term management plan Progress & Development 2030 (P&D 2030) covering the period from the fiscal year ended November 30, 2024 to the fiscal year ending November 30, 2030. Based on our Group management philosophy, P&D 2030 has set a management vision of "providing value to the global market as a leading company in specialty acrylic acid esters." Under this vision, we will promote sustainable management that takes ESG into account, aiming to increase corporate value and achieve sustainable growth.

      In the Chemical Products Business, we worked to improve profit ratios mainly by integrating and closing products and improving production efficiency, and proceeded with expanding sales of environmentally friendly products, such as those derived from biomass. In the Electronic Materials Business, the Group worked to accelerate the development of cutting-edge semiconductor materials and to develop new applications for photoresist materials. In the Specialty Chemicals Business, the Group focused on strengthening the overseas expansion of cosmetic raw materials and expanding sales of high-purity special solvents. Following OSAKA ORGANIC CHEMICAL INDUSTRY KOREA LTD. established in 2024, we established Visnex Chemicals Corporation in North America in 2025, and we are working to strengthen our overseas sales system by acquiring new customers and cultivating new markets. In addition, in anticipation of future growth in the semiconductor market, we are planning capital investment in new facilities for cutting-edge semiconductor materials at the Sakata Plant, and it is scheduled to be completed in 2028 in order to strengthen future production capacity and supply systems.

      As a result, for the three months ended February 28, 2026, the Group recorded net sales of 9,072 million yen (up 6.5% year on year), operating profit of 1,832 million yen (up 34.2% year on year), ordinary profit of 1,904 million yen (up 28.6% year on year), and profit attributable to owners of parent of 1,285 million yen (up 24.2% year on year).

      Business results by segment are explained below (excluding inter-segment transactions).

      1. Chemical Products Business

         In the Chemical Products Business, sales of automotive coatings, display adhesives, and UV inkjet inks all decreased in the acrylic acid ester group. Sales in the methacrylate ester group also remained weak. As a result, net sales were 2,807 million yen (down 15.4% year on year) and segment profit was 418 million yen (down 20.6% year on year).

      2. Electronic Materials Business

         In the Electronic Materials Business, in the semiconductor materials group, sales of raw materials for ArF resists, which are the Company's mainstay, remained strong, and sales of raw materials for cutting-edge EUV resists increased significantly. On the other hand, sales in the display materials group remained weak. In addition, sales of other groups remained strong. As a result, net sales were 4,552 million yen (up 22.2% year on year) and segment profit was 983 million yen (up 85.6% year on year).

      3. Specialty Chemicals Business

         In the Specialty Chemicals Business, sales in the cosmetics materials group were flat. Sales in the functional materials group increased significantly. In addition, sales of high-purity specialty solvents at subsidiaries remained strong. As a result, net sales were 1,713 million yen (up 16.1% year on year) and segment profit was 440 million yen (up 39.8% year on year).

   2. Financial Position for the Period under Review

      Total assets at the end of the first quarter of the current fiscal year increased by 1,738 million yen from the end of the previous fiscal year to 65,452 million yen. This was mainly attributable to a decrease of 704 million yen in cash and deposits and an increase of 2,570 million yen in investment securities due to the rise in stock prices, etc. of shares held. Liabilities at the end of the first quarter of the current fiscal year decreased by 640 million yen from the end of the previous fiscal year to 12,536 million yen. This was mainly due to an increase of 442 million yen in accounts payable

      - trade, a decrease of 369 million yen in accounts payable - other, a decrease of 1,587 million yen in income taxes payable, and an increase of 873 million yen in deferred tax liabilities.

      Net assets at the end of the first quarter of the current fiscal year increased by 2,379 million yen from the end of the previous fiscal year to 52,916 million yen. This was mainly due to an increase of 472 million yen in retained earnings and an increase of 1,745 million yen in valuation difference on available-for-sale securities.

   3. Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements

   The consolidated financial results forecast announced on January 8, 2026 remain unchanged.

2. ‌Quarterly Consolidated Financial Statements and Primary Notes

1. ‌Quarterly Consolidated Balance Sheet

   		(Thousands of yen)
   As of November 30, 2025		As of February 28, 2026
   Assets
   Current assets
   Cash and deposits	15,922,597	15,218,165
   Accounts receivable - trade, and contract assets	11,579,782	11,250,181
   Electronically recorded monetary claims -operating	449,027	464,238
   Finished goods	4,711,762	5,149,941
   Work in process	2,119,445	2,323,731
   Raw materials and supplies	2,326,098	2,520,492
   Other	717,767	726,084
   Allowance for doubtful accounts	(20,403)	(20,363)
   Total current assets	37,806,078	37,632,472
   Non-current assets
   Property, plant and equipment
   Buildings and structures, net	7,846,424	7,735,992
   Machinery, equipment and vehicles, net	6,042,474	5,785,603
   Land	2,172,476	2,172,476
   Construction in progress	325,787	310,929
   Other, net	441,508	458,398
   Total property, plant and equipment	16,828,670	16,463,399
   Intangible assets
   Goodwill	3,333	-
   Other	35,837	35,484
   Total intangible assets	39,170	35,484
   Investments and other assets
   Investment securities	7,544,551	10,114,984
   Shares of subsidiaries and associates	298,567	-
   Retirement benefit asset	1,058,963	1,068,763
   Deferred tax assets	3,297	3,391
   Other	134,426	133,940
   Total investments and other assets	9,039,805	11,321,079
   Total non-current assets	25,907,647	27,819,963
   Total assets	63,713,725	65,452,436

   		(Thousands of yen)
   As of November 30, 2025		As of February 28, 2026
   Liabilities
   Current liabilities
   Accounts payable - trade	5,775,037	6,217,130
   Current portion of long-term borrowings	534,082	509,132
   Accounts payable - other	1,914,021	1,544,515
   Income taxes payable	2,117,602	530,258
   Provision for bonuses	-	281,018
   Provision for bonuses for directors (and other officers)	63,970	9,713
   Other	813,791	711,974
   Total current liabilities	11,218,505	9,803,743
   Non-current liabilities
   Long-term borrowings	803,841	691,327
   Deferred tax liabilities	1,014,083	1,887,962
   Provision for share awards for directors (and other officers)	26,780	42,704
   Retirement benefit liability	499	507
   Other	113,513	110,004
   Total non-current liabilities	1,958,717	2,732,506
   Total liabilities	13,177,222	12,536,250
   Net assets
   Shareholders' equity
   Share capital	3,600,295	3,600,295
   Capital surplus	3,513,349	3,513,349
   Retained earnings	44,177,940	44,650,144
   Treasury shares	(5,326,546)	(5,326,546)
   Total shareholders' equity	45,965,038	46,437,242
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	3,140,180	4,885,595
   Foreign currency translation adjustment	186,810	220,951
   Remeasurements of defined benefit plans	408,689	403,150
   Total accumulated other comprehensive income	3,735,680	5,509,697
   Non-controlling interests	835,783	969,246
   Total net assets	50,536,502	52,916,186
   Total liabilities and net assets	63,713,725	65,452,436

2. ‌Quarterly Consolidated Statements of Income and Comprehensive Income

   ‌Quarterly Consolidated Statement of Income For the Three-Month Period‌

   		(Thousands of yen)
   For the three months ended February 28, 2025		For the three months ended February 28, 2026
   Net sales	8,516,926	9,072,876
   Cost of sales	5,846,560	5,947,511
   Gross profit	2,670,366	3,125,364
   Selling, general and administrative expenses	1,304,495	1,292,384
   Operating profit	1,365,870	1,832,979
   Non-operating income
   Interest income	2,771	1,747
   Dividend income	36,842	39,550
   Foreign exchange gains	-	6,215
   Insurance claim income	97,183	-
   Other	28,683	25,971
   Total non-operating income	165,480	73,484
   Non-operating expenses
   Interest expenses	2,406	1,153
   Foreign exchange losses	45,193	-
   Commission for purchase of treasury shares	2,400	-
   Loss on investments in investment partnerships	506	904
   Other	0	95
   Total non-operating expenses	50,507	2,153
   Ordinary profit	1,480,843	1,904,310
   Extraordinary losses
   Loss on retirement of non-current assets	199	2,926
   Total extraordinary losses	199	2,926
   Profit before income taxes	1,480,644	1,901,383
   Income taxes - current	466,937	510,839
   Income taxes - deferred	(68,048)	63,092
   Total income taxes	398,888	573,931
   Profit	1,081,755	1,327,451
   Profit attributable to non-controlling interests	46,306	41,757
   Profit attributable to owners of parent	1,035,449	1,285,694

   ‌Quarterly Consolidated Statement of Comprehensive Income For the Three-Month Period‌

   		(Thousands of yen)
   For the three months ended February 28, 2025		For the three months ended February 28, 2026
   Profit	1,081,755	1,327,451
   Other comprehensive income
   Valuation difference on available-for-sale securities	(211,286)	1,758,033
   Foreign currency translation adjustment	(32,776)	34,730
   Remeasurements of defined benefit plans, net of tax	(2,559)	(5,678)
   Total other comprehensive income	(246,623)	1,787,085
   Comprehensive income	835,132	3,114,537
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	788,214	3,059,712
   Comprehensive income attributable to non-controlling interests	46,917	54,825

3. Notes to Quarterly Consolidated Financial Statements Going Concern Assumption

   Not applicable.

   Notes to Quarterly Consolidated Statements of Cash Flows

   The quarterly consolidated statements of cash flows for the three months ended February 28, 2026 have not been prepared.

   Depreciation related to the three months ended February 28, 2026 (including amortization related to intangible assets excluding goodwill) and amortization of goodwill are as follows.

   (Thousands of yen)

   	For the three months ended February 28, 2025 (Dec. 1, 2024 - Feb. 28, 2025)	For the three months ended February 28, 2026 (Dec. 1, 2025 - Feb. 28, 2026)
   Depreciation	721,502	657,589
   Amortization of goodwill	4,999	3,333

   Changes in Scope of Consolidation or Scope of Application of Equity Method

   (Significant Change in the Scope of Consolidation)

   Visnex Chemicals Corporation, which was a non-consolidated subsidiary in the previous fiscal year, is included in the scope of consolidation from the first quarter of the current fiscal year due to its increased importance.

   Segment and Other Information

   [Segment Information]

   1. For the three months ended February 28, 2025 (Dec. 1, 2024 - Feb. 28, 2025)

      1. Information on the amounts of sales, profits or losses by reportable segment and information on disaggregation of revenue

         (Thousands of yen)

         	Reportable segment				Adjustment (Note 1)	Amounts shown on quarterly consolidated statement of income (Note 2)
         	Chemical Products Business	Electronic Materials Business	Specialty Chemicals Business	Total
         Net sales
         Japan	1,586,393	3,154,050	1,113,708	5,854,152	-	5,854,152
         Asia and Australia	1,215,493	563,431	307,617	2,086,542	-	2,086,542
         Americas	359,255	6,614	54,785	420,654	-	420,654
         Europe	155,006	570	-	155,576	-	155,576
         Revenue from contracts with customers	3,316,149	3,724,665	1,476,110	8,516,926	-	8,516,926
         Other revenues	-	-	-	-	-	-
         Sales to external customers	3,316,149	3,724,665	1,476,110	8,516,926	-	8,516,926
         Inter-segment sales and transfers	-	-	118,196	118,196	(118,196)	-
         Total	3,316,149	3,724,665	1,594,307	8,635,123	(118,196)	8,516,926
         Segment profit	527,628	530,126	315,210	1,372,965	(7,094)	1,365,870

         (Notes) 1. Segment profit in the above adjustment represents eliminations for inter-segment transactions.

      2. Segment profit is adjusted to be consistent with the operating profit on the quarterly consolidated statement of income.

         2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment Not applicable.

   2. For the three months ended February 28, 2026 (Dec. 1, 2025 - Feb. 28, 2026)

      1. Information on the amounts of sales, profits or losses by reportable segment and information on disaggregation of revenue

         (Thousands of yen)

         	Reportable segment				Adjustment (Note 1)	Amounts shown on quarterly consolidated statement of income (Note 2)
         	Chemical Products Business	Electronic Materials Business	Specialty Chemicals Business	Total
         Net sales
         Japan	1,476,316	3,930,482	1,361,695	6,768,494	-	6,768,494
         Asia and Australia	1,148,941	619,314	313,567	2,081,822	-	2,081,822
         Americas	62,177	2,878	22,951	88,006	-	88,006
         Europe	119,599	-	14,952	134,551	-	134,551
         Revenue from contracts with customers	2,807,034	4,552,674	1,713,166	9,072,876	-	9,072,876
         Other revenues	-	-	-	-	-	-
         Sales to external customers	2,807,034	4,552,674	1,713,166	9,072,876	-	9,072,876
         Inter-segment sales and transfers	-	-	147,573	147,573	(147,573)	-
         Total	2,807,034	4,552,674	1,860,739	9,220,449	(147,573)	9,072,876
         Segment profit	418,702	983,952	440,817	1,843,472	(10,492)	1,832,979

         (Notes) 1. Segment profit in the above adjustment represents eliminations for inter-segment transactions.

      2. Segment profit is adjusted to be consistent with the operating profit on the quarterly consolidated statement of income.

2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment Not applicable.

Not applicable.