Consolidated Financial Report For the First Three Months of the Fiscal Year Ending October 31, 2026 (Japanese GAAP) （905KB）

February 27, 2026

Company name: PARK24 CO., LTD. Stock listing: Prime Market of TSE

Code number: 4666 URL : https://www.park24.co.jp/en Representative: Koichi Nishikawa, President and Representative Director, CEO

Inquiries: Takao Miki, Director, Executive Corporate Officer, CFO

TEL : +81-3-6747-8120

Scheduled day of commencing dividend payment : -

Preparation of supplementary financial data : Yes

Briefing meeting for financial results to be held : Yes, only in Japanese

(For institutional investors and analysts)

(Figures are rounded down to the nearest one million yen)

1. Overview of the First Three Months of Fiscal Year Ending October 31, 2026 (November 1, 2025 -January 31, 2026)

   1. Consolidated Operating Result (Figures in percentages denote the year-on-year change)

      	Net sales		Operating profit		Recurring profit		Profit attributable to owners of parent
      Three months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      January 31, 2026	106,549	9.5	9,194	-1.3	8,341	-0.6	5,806	12.2
      January 31, 2025	97,267	12.1	9,318	8.1	8,388	5.2	5,176	1.8

      (Note) Comprehensive income: Three months ended January 31, 2026: 7,243 million yen 13.3%

      Three months ended January 31, 2025: 6,396 million yen 43.5%

      	Net income per share	Net income per share after dilution
      Three months ended	Yen	Yen
      January 31, 2026	34.02	31.38
      January 31, 2025	30.35	27.73

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   	Millions of yen	Millions of yen	%
   As of January 31, 2026	311,109	71,035	22.8
   As of October 31, 2025	354,376	98,193	27.7

   (Reference) Equity: As of January 31, 2026: 70,987 million yen

   As of October 31, 2025: 98,145 million yen

2. Dividend status

   	Dividend per share
   	Q1	Q2	Q3	Q4	A n n u a l
   Fiscal year ended	Yen	Yen	Yen	Yen	Yen
   October 31, 2025	-	0.00	-	30.00	30.00
   October 31, 2026	-
   Fiscal year ending October 31, 2026(Forecasts)		0.00	-	65.00	65.00

   (Notes) Revisions to dividend projection published most recently: None

3. Consolidated Forecasts for the Fiscal Year ending October 31, 2026 (November 1, 2025 - October 31, 2026)

   	Net sales		Operating profit		Recurring profit		Profit attributable to owners of parent		Net income per share
   Interim	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	211,500	9.4	16,200	2.7	14,500	4.2	9,000	80.7	52.72
   Full year	445,000	9.6	41,500	10.5	38,500	12.7	24,000	50.8	140.60

   (The percentages indicate the rates of increase or decrease compared with the same period of the previous year)

   (Notes) Revisions to the Most Recently Published Consolidated Earnings Forecasts: None (Notes)

   1. Changes in important subsidiaries during the term :No New: -- company ( ) Eliminated: -- company ( )

   2. Adoption of special accounting methods for preparation of quarterly consolidated financial statement

      :No

   3. Changes in accounting policies and changes or restatement of accounting estimates

      1. Changes in accounting policies caused by revision of accounting standards :No

      2. Changes in accounting policies other than 1) :No

      3. Changes in accounting estimates :No

      4. Restatement :No

   4. Number of shares issued (common stock)

      Three Months ended January 31, 2026	171,048,369 shares	Fiscal year ended October 31,2025	171,048,369 shares
      Three Months ended January 31, 2026	382,495 shares	Fiscal year ended October 31,2025	382,497 shares
      Three Months ended January 31, 2026	170,665,873 shares	Three Months ended October 31,2025	170,593,260 shares

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

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

      3. Average number of shares during the term (consolidated cumulative period)

• This financial report is not subject to review by certified public accountants or auditors.
• Explanations and other special notes concerning the appropriate use of business performance forecasts.

The consolidated business performance forecasts given in this document are based on assumptions, prospects, and future business plans, currently available on the date this document was published. Actual results may differ from these forecasts for a variety of reasons. For other matters relating to the forecasts, please refer to "1. Qualitative Data, Financial Statements and Other Information (4) Information on the future outlook".

Accompanying Materials - Contents

1. Qualitative Data, Financial Statements and Other Information2

   1. Qualitative data on the consolidated financial results for the first three months 2

   2. Overview of the financial position for the first three months 5

   3. Overview of cash flow situation for the first three months 5

   4. Information on the future outlook, including consolidated business performance forecasts 5

2. Consolidated Financial Statements and Notes…………….………………………………………………………… 6

   1. Consolidated the balance sheet for the first three months 6

   2. Consolidated statements of profit and loss, and comprehensive income for the first three months 8

   3. Consolidated statement of cash flows for the first three months 10

   4. Notes to consolidated financial statements for the first three months 11

(Notes on Segment Information) 11

(Notes When There Are Significant Changes in Amounts of Equity) 12

(Notes on Going Concern Assumptions) 12

1. Qualitative Data, Financial Statements and Other Information

   1. Qualitative data on the consolidated financial results for the first three months

      In December 2024, the Group announced the "FY2027 Medium-term Management Plan" as a three-year plan from the fiscal year ended October 31, 2025 to the fiscal year ending October 31, 2027. Under this plan, based on the Group philosophy, "We create new forms of comfort and convenience by responding to the needs of today and anticipating the needs of tomorrow," we have established our "2035 Medium- to Long-term Vision,": "Evolve into a Mobility Service Platform Operator." To realize this vision, it is essential to achieve the Medium-Term Management Plan and to promote the expansion, evolution, and integration of the four networks-People (members), Cars (mobility), Communities (destinations), and Parking sites. Through these initiatives, we aim to become an indispensable presence in society.

      The fiscal year ending October 31, 2026, is the second year of the Medium-term Management Plan, which is themed "the expansion, evolution, and integration of the four networks," and we are undertaking initiatives to expand our business scale and advance our business model. In addition to these initiatives, we are reviewing the international business as outlined in the Medium-term Management Plan, while also focusing on returning the Mobility Business to a growth trajectory and the selection and concentration of management resources.

      During the first three months of the consolidated fiscal year under review, service operations in the Parking Business Japan and the Parking Business International exceeded expectations, while service operations in the Mobility Business remained sluggish.

      The Group's operating results for the first three months under review are as shown below.

      (Millions of yen)

      	Three months ended January 31, 2025	Three months ended January 31, 2026	YoY change
      			Amount	%
      Net sales	97,267	106,549	9,282	9.5%
      Operating profit	9,318	9,194	-123	-1.3%
      Recurring profit	8,388	8,341	-46	-0.6%
      Profit attributable to owners of parent	5,176	5,806	629	12.2%

      Results by business segment (including intersegment sales) are as follows.

      Parking Business Japan

      Parking operation remained strong. Regarding network expansion, during the first three months under review, newly developed parking sites have, in principle, been made cashless-only, and a total of 307 parking sites were developed during the period. In addition, with respect to existing parking sites, we are accelerating the conversion to parking sites equipped with cashless-only, in-house developed Times TOWER payment machines and automatic number plate recognition (ANPR) cameras. By promoting the development and rollout of next-generation parking services that enable easier entry, exit, and payment, we are working to enhance customer convenience. Results for the first three months under review are as follows.

      - Results

      (Millions of yen)

      	Three months ended January 31, 2025	Three months ended January 31, 2026	YoY change
      			Amount	%
      Net sales	47,852	52,677	4,825	10.1%
      Operating profit	9,276	9,665	389	4.2%

      - Expansion of the networks

      		As of October 31, 2025	As of January 31, 2026	Vs. the previous fiscal year
      				Number	%
      Number of Times PARKING sites	(Sites)	19,679	19,824	145	0.7%
      Number of Times PARKING spaces	(Spaces)	697,375	709,319	11,944	1.7%
      Total number of parking sites*	(Sites)	27,151	27,060	-91	-0.3%
      Total number of parking spaces*	(Spaces)	881,545	878,350	-3,195	-0.4%

      * The number of sites/spaces in the monthly parking and facility management services is included.

      Mobility Business

      With the aim of returning the Mobility Business to a growth trajectory, we place emphasis on profitability per vehicle. In expanding our network, we compare member concentration and vehicle deployment on a localized mesh level basis, and after appropriately assessing demand in each region, promote the development of parking spaces for the deployment of Times CAR vehicles. Through these efforts, we are pursuing disciplined expansion at an appropriate pace. In addition, we are continuing promotions through TV commercials, web advertising, and other channels, and are working to accelerate the pace of member acquisition and expand usage by implementing initiatives based on analyses of regional characteristics and member usage patterns. During the first three months under review, the number of dedicated Times CAR vehicles increased by 756 to 64,636 (up 1.2% from the end of the previous fiscal year), the number of Times CAR rental sites rose by 1,099 to 27,172 (up 4.2% from the end of the previous fiscal year), and the number of members increased by 97 thousand to 3,713 thousand (up 2.7% from the end of the previous fiscal year).

      However, as of the end of the first three months under review, the number of dedicated Times CAR vehicles reached 120.5% of the level at the end of the same period of the previous year, while the number of members stood at 118.4%. As the pace of increases in dedicated Times CAR vehicles exceeded the pace of growth in the number of members, service operations remained sluggish. Results for the first three months under review are as follows.

      - Results

      (Millions of yen)

      	Three months ended January 31, 2025	Three months ended January 31, 2026	YoY change
      			Amount	%
      Net sales	29,627	32,804	3,177	10.7%
      Operating profit	3,157	2,837	-319	-10.1%

      - Expansion of the networks

      		As of October 31, 2025	As of January 31, 2026	Vs. the previous fiscal year
      				Number	%
      Number of Times CAR vehicles	(Units)	80,691	81,640	949	1.2%
      Number of dedicated Times CAR vehicles	(Units)	63,880	64,636	756	1.2%
      Number of Times CAR rental sites	(Sites)	26,073	27,172	1,099	4.2%
      Number of members	(Thousand people)	3,616	3,713	97	2.7%

      Parking Business International

      Parking operations remained steady across all regions, including the UK, Australia, and other regions.

      By leveraging the know-how cultivated in the Parking Business Japan and promoting the sharing of knowledge, we are working to accelerate the development of new parking sites and improve the profitability of existing parking sites.

      In the development of new parking sites, based on the strategy of "small, dispersed, and dominant" used in the Parking Business in Japan, we are promoting the development of "Localized Times PARKING" sites that are suited to parking demand conditions in each region. Through these initiatives, we are optimizing our business portfolio, which has been heavily concentrated on large and long-term contract parking sites, with the aim of reducing business risk. In addition, at existing parking sites, we are advancing profitability improvements by implementing measures tailored to regional characteristics.

      *The consolidation period of overseas subsidiaries for the first three months of the fiscal year ended October 31, 2025, is from October 1, 2024, to December 31, 2024, and that for the fiscal year ended October 31, 2026, is from October 1, 2025,

      to December 31, 2025.

      - Results

      (Millions of yen)

      	Three months ended January 31, 2025	Three months ended January 31, 2026	YoY change
      			Amount	%
      Net sales	21,538	22,795	1,257	5.8%
      Operating profit(loss)*	-56	206	262	-

      *Amortization of goodwill includes minus 364 million yen for the three months ended October 31, 2025, and minus 365 million for the first three months ended October 31, 2026.

      - Expansion of the networks

      		As of October 31, 2025	As of January 31, 2026	Vs. the previous fiscal year
      				Number	%
      Number of Localized Times PARKING sites	(Sites)	1,589	1,636	47	3.0%
      Number of Localized Times PARKING spaces	(Spaces)	72,744	75,515	2,771	3.8%
      Total number of parking sites*	(Sites)	2,697	2,665	-32	-1.2%
      Total number of parking spaces*	(Spaces)	491,124	469,322	-21,802	-4.4%

      * The number of sites/spaces in the monthly parking and facility management services is included.

   2. Overview of the financial position for the first three months

      The Group's financial position at the end of the first three months is as follows.

      		As of October 31, 2025	As of January 31,2026	Change
      Total assets	(Millions of yen)	354,376	311,109	-43,266
      Interest-bearing liabilities	(Millions of yen)	172,645	166,020	-6,625
      Shareholders' equity	(Millions of yen)	104,285	75,690	-28,595
      Shareholders' equity Ratio	(%)	29.4	24.3	-5.1
      Net D/E ratio	(Times)	0.88	1.76	0.87

      • Interest-Bearing liabilities = All liabilities recorded on the consolidated balance sheet that incur interest

      • Shareholders' equity Ratio = Shareholders' equity / Total assets

      • Net D/E ratio = (Interest-bearing liabilities - Cash and deposits) / Shareholders' equity

   3. Overview of cash flow situation for the first three months

      The cash flow situation by category for the first three months under review was as follows.

      (Millions of yen)

      	Three months ended January 31, 2025	Three months ended January 31, 2026	Change
      Cash flows from operating activities	10,621	9,471	-1,150
      Cash flows from investing activities	-9,225	-14,162	-4,937
      Free cash flow	1,396	-4,691	-6,088
      Cash flows from financing activities	-3,883	-43,305	-39,422
      Cash and cash equivalents at end of period	46,007	32,813	-13,193

   4. Information on the future outlook, including consolidated business performance forecasts

   The consolidated earnings forecasts for the fiscal year ending October 31, 2026 have not been changed from the figures announced on December 15, 2025 in the Consolidated Financial Report for the Fiscal Year Ended October 31, 2025.

2. Consolidated Financial Statements and Notes

1. Consolidated the balance sheet for the first three months

   (Millions of yen)

   As of October 31, 2025 As of January 31, 2026

   Assets

   Current assets
   Cash and deposits	80,470	32,928
   Notes and accounts receivable - trade	30,902	28,134
   Other	37,042	38,688
   Allowance for doubtful accounts	-413	-424
   Total current assets	148,001	99,327
   Non-current assets
   Property, plant and equipment
   Buildings and structures, net	40,135	39,915
   Machinery, equipment and vehicles, net	46,407	48,520
   Land	24,896	24,312
   Leased assets, net	10,161	9,465
   Right of use assets, net	17,655	17,325
   Other, net	16,629	20,992
   Total property, plant and equipment	155,886	160,531
   Intangible assets
   Goodwill	16,350	17,020
   Contract-based intangible assets	1,852	1,924
   Other	13,024	14,220
   Total intangible assets	31,227	33,165
   Investments and other assets	19,261	18,085
   Total non-current assets	206,374	211,782
   Total assets	354,376	311,109
   Liabilities
   Current liabilities
   Short-term borrowings	2,358	11,604
   Current portion of long-term borrowings	8,099	15,671
   Lease liabilities	10,213	10,275
   Income taxes payable	8,650	2,615
   Provision for bonuses	3,023	1,547
   Other	57,018	54,711
   Total current liabilities	89,363	96,426
   Non-current liabilities
   Bonds with share acquisition rights	35,000	35,000
   Long-term borrowings	94,724	72,124
   Lease liabilities	22,248	21,343
   Deferred tax liabilities	633	660
   Asset retirement obligations	10,230	10,372
   Other	3,982	4,146
   Total non-current liabilities	166,818	143,647
   Total liabilities	256,182	240,074

   Net assets
   Shareholders' equity
   Share capital	32,739	32,739
   Capital surplus	28,326	-
   Retained earnings	44,121	43,852
   Treasury shares	-901	-901
   Total shareholders' equity	104,285	75,690
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	169	173
   Deferred gains or losses on hedges	56	97
   Revaluation reserve for land	-1,035	-1,035
   Foreign currency translation adjustment	-6,131	-4,697
   Remeasurements of defined benefit plans	800	758
   Total accumulated other comprehensive income	-6,140	-4,703
   Share acquisition rights	48	48
   Total net assets	98,193	71,035
   Total liabilities and net assets	354,376	311,109

   (Millions of yen) As of October 31, 2025 As of January 31, 2026

2. Consolidated statements of profit and loss, and comprehensive income for the first three months Consolidated statements of profit and loss of the first three months of fiscal 2026

(Millions of yen)

Three months ended January 31, 2025

Three months ended January 31, 2026

Consolidated statement of comprehensive income for the first three months of fiscal 2026

(Millions of yen)

Three months ended January 31, 2025

Three months ended January 31, 2026

1. Notes to consolidated financial statements for the first three months [Notes on Segment Information]

   1. First three months of fiscal 2025 (from November 1, 2024, to January 31, 2025)

      Information on sales and profits or losses by reported segment

      (Millions of yen)

      	Reportable segments				Adjustment (Note) 2	Amount on consolidated profit and loss statement (Note) 3
      	Parking Business Japan	Mobility Business	Parking Business International (Note) 1	Total
      Sales
      Income from contracts with customers	42,774	28,794	20,795	92,364	-	92,364
      Other income (Note)4	3,405	753	743	4,902	-	4,902
      Sales to external customers	46,180	29,548	21,538	97,267	-	97,267
      Intersegment sales and transfers	1,672	79	-	1,751	-1,751	-
      Total	47,852	29,627	21,538	99,018	-1,751	97,267
      Segment profit (loss)	9,276	3,157	-56	12,376	-3,058	9,318

      (Notes)

      1. The segment profit (loss) of minus 56 million yen in the Parking Business International includes an amortization of goodwill of minus 364 million yen.

      2. The adjustment amount of segment profit (loss) consists of corporate expenses not allocated to each reportable segment. Corporate expenses mainly include costs related to administrative departments such as the General Affairs Department, which are not attributable to the reportable segments.

      3. Segment profit (loss) is reconciled with operating profit in the quarterly consolidated statements of income.

      4. Other income includes rental income, etc., based on the "Accounting Standard for Lease Transactions."

   2. First three months of fiscal 2025 (from November 1, 2025, to January 31, 2026)

      Information on sales and profits by reported segment

      (Millions of yen)

      	Reportable segments				Adjustment (Note) 2	Amount on consolidated profit and loss statement (Note) 3
      	Parking Business Japan	Mobility Business	Parking Business International (Note) 1	Total
      Sales
      Income from contracts with customers	47,403	31,943	22,248	101,595	-	101,595
      Other income (Note)4	3,630	776	547	4,954	-	4,954
      Sales to external customers	51,034	32,719	22,795	106,549	-	106,549
      Intersegment sales and transfers	1,643	84	-	1,728	-1,728	-
      Total	52,677	32,804	22,795	108,278	-1,728	106,549
      Segment profit	9,665	2,837	206	12,708	-3,514	9,194

      (Notes)

      1. The segment profit of 206 million yen in Parking Business International includes an amortization of goodwill of minus 365 million yen.

      2. The adjustment amount of segment profit consists of corporate expenses not allocated to each reportable segment. Corporate expenses mainly include costs related to administrative departments such as the General Affairs Department, which are not attributable to the reportable segments.

      3. Segment profit is reconciled with operating profit in the quarterly consolidated statements of income.

      4. Other income includes rental income, etc., based on the "Accounting Standard for Lease Transactions."

[Notes When There Are Significant Changes in Amounts of Equity]

TIMES 24 Co., Ltd., a consolidated subsidiary of the Group, acquired additional shares of MEIF II CP Holdings 2 Limited, which is also a consolidated subsidiary of the Group, on December 10, 2025. As a result of the share acquisition, capital surplus decreased by 29,282 million yen. Since capital surplus became negative, the negative balance was offset against retained earnings. As a result, as of the end of the first three months of the fiscal year under review, capital surplus amounted to zero, and retained earnings amounted to 43,852 million yen.

[Notes on the Going Concern Assumptions] There are no applicable matters.