Riso Kagaku : Consolidated Financial Results for the Nine Months Ended December 31, 2025(Under Japanese GAAP)【PDF：357KB】

February 3, 2026

Company name: RISO KAGAKU CORPORATION Listing: Tokyo Stock Exchange Prime Market Securities code: 6413

URL: https://www.riso.co.jp/english/ Representative: Akira Hayama, President & CEO

Inquiries: Yoshiomi Narumiya, Director and General Manager of Corporate Headquarters Telephone: +81-3-5441-6611 (from overseas)

Scheduled date to commence dividend payments: -

Preparation of supplementary material on financial results: None

Holding of financial results briefing: None

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

1. Consolidated financial results for the nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)
   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Nine months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      December 31, 2025	56,473	(1.1)	3,689	(13.7)	4,326	(5.4)	3,226	19.5
      December 31, 2024	57,087	7.8	4,275	33.7	4,572	23.9	2,699	(5.0)

      Note: Comprehensive income	For the nine months ended December 31, 2025:	¥4,851 million	[35.3%]
      	For the nine months ended December 31, 2024:	¥3,585 million	[(10.4)%]

      	Basic earnings per share	Diluted earnings per share
      Nine months ended	Yen	Yen
      December 31, 2025	50.49	-
      December 31, 2024	41.35	-

      A two-for-one split of its common shares was conducted on January 1, 2025. As a result, basic earnings per share stated above was calculated based on the assumption that the two-for-one stock split took place at the beginning of the fiscal year ended March 31, 2025.

   2. Consolidated financial position

   	Total assets	Net assets	Equity-to-asset ratio
   As of	Millions of yen	Millions of yen	%
   December 31, 2025	92,613	67,152	72.5
   March 31, 2025	88,911	66,505	74.8

   Reference: Equity

   As of December 31, 2025: ¥67,152 million As of March 31, 2025: ¥66,505 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 March 31, 2025	-	0.00	-	50.00	50.00
   Fiscal year ending March 31, 2026	-	0.00	-
   Fiscal year ending March 31, 2026 (Forecast)				50.00	50.00

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

3. Forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

Note: Revisions to the forecasts in the current quarter: None

1. Significant changes in the scope of consolidation during the period: None

2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:

   None

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

   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. Restatement: None

4. Number of issued shares (common shares)

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

      As of December 31, 2025	72,000,000 shares
      As of March 31, 2025	72,000,000 shares

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

      As of December 31, 2025	8,693,016 shares
      As of March 31, 2025	7,879,016 shares

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

A two-for-one split of its common shares was conducted on January 1, 2025. As a result, the number of issued shares stated above was calculated based on the assumption that the two-for-one stock split took place at the beginning of the fiscal year ended March 31, 2025.

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

• Proper use of the forecasts, and other special matters

The forward-looking statements, including forecasts, contained in these materials are based on information currently available to the Company. These statements do not purport that the Company pledges to achieve such performance. Actual business may differ substantially from the forecasts due to various factors in the future.

1. Overview of Operating Results 2

   1. Overview of Operating Results for the Quarter under Review 2

   2. Overview of financial position for the Quarter under Review 3

   3. Explanation on future estimates information pertaining to consolidated earnings forecasts 3

2. Quarterly Consolidated Financial Statements and Notes 4

   1. Quarterly Consolidated Balance Sheets 4

   2. Quarterly Consolidated Statements of Income and Comprehensive Income 6

   3. Notes on quarterly consolidated financial statements 8

(Notes on segment information) 8

(Notes on significant changes in the amount of shareholders' equity) 9

(Notes on premise of going concern) 9

(Notes on quarterly consolidated cash flow statement) 9

1. Overview of Operating Results
   1. Overview of Operating Results for the Quarter under Review

      The RISO Group (RISO) pursues its business activities in line with its Management Policies. For the fiscal year ending March 31, 2026, these are to "Maintain reliable management in the Printing Equipment-Related Business", "Promote planning and development unique to RISO", and "Improve planning in the Corporate Headquarters".

      For the nine months ended December 31, 2025, net sales and operating profit decreased compared to the same period of the previous fiscal year. In the Printing Equipment-Related Business, although overseas sales exceeded the level of the same period of the previous fiscal year, net sales declined from the same period of the previous fiscal year due to lower sales in the digital duplicating business in Japan. Meanwhile, as a result of the integration of the inkjet head business in July 2024, net sales, gross profit, and SG&A expenses increased. The increase in gross profit was also attributable to the cost reduction effect resulting from the business integration.

      272 million yen in foreign exchange gains were recorded as non-operating income (as opposed to 64 million yen of foreign exchange losses in the same period of the previous fiscal year). Profit attributable to owners of parent increased, due to recording extraordinary income of 672 million yen as gain on the sale of investment securities and extraordinary losses of 101 million yen associated with the liquidation of subsidiaries (496 million yen of structural reform costs were recorded in the same period of the previous fiscal year).

      Net sales were 56,473 million yen (down 1.1% year on year), operating profit was 3,689 million yen (down 13.7% year on year), ordinary profit was 4,326 million yen (down 5.4% year on year), and profit attributable to owners of parent was 3,226 million yen (up 19.5% year on year).

      The average exchange rates during the current consolidated nine months period were 148.74 yen (a 3.83 yen appreciation of the yen year on year) for the US dollar and 171.83 yen (a 7.00 yen depreciation of the yen year on year) for the euro.

      Results by segment are as follows:

      1. Printing equipment-related business

         RISO operates a printing equipment-related business, comprising the Printing Equipment Business and the Inkjet Head Business. Within the Printing Equipment Business, we operate the inkjet business, principally with its ORPHIS high-speed inkjet printers, as well as the digital duplicating business, consisting mainly of its RISOGRAPH digital duplicators.

         In the Printing Equipment-Related Business, both net sales and segment profit decreased in the nine months ended December 31, 2025, compared to the same period of the previous fiscal year, with net sales of 55,232 million yen (down 1.0% year on year) and segment profit of 3,466 million yen (down 14.2% year on year).

         Net sales in Japan amounted to 24,719 million yen (down 3.4% year on year), while overseas net sales reached 30,513 million yen (up 1.0% year on year).

      2. Real estate business

         RISO's real estate business consists of the leasing of buildings.

         Net sales in the real estate business were 783 million yen (up 1.3% year on year), and segment profit was 498 million yen (up 0.6% year on year).

      3. Others

         RISO operates the print creating business, the digital communication business, and the application software business, among others as well as printing equipment-related business and real estate business.

         Net sales in the others were 457 million yen (down 11.3% year on year), and segment loss was 274 million yen (compared to segment loss of 260 million yen in the same period of the previous fiscal year).

   2. Overview of financial position for the Quarter under Review

      The financial position of RISO at the end of the current quarter compared to the end of the previous fiscal year is as follows.

      Total assets increased 3,702 million yen to 92,613 million yen, while net assets increased 646 million yen to 67,152 million yen.

      The main changes in the assets section were an increase of 4,067 million yen in cash and deposits, an increase of 710 million yen in merchandise and finished goods, and a decrease of 2,248 million yen in notes and accounts receivable - trade. In the liabilities section, there were increases of 747 million yen in notes and accounts payable - trade, 2,216 million yen in short-term borrowings, and 749 million yen in retirement benefit liability, while provision for bonuses decreased by 847 million yen. In net assets, treasury shares increased by 999 million yen and foreign currency translation adjustments increased by 1,631 million yen.

      As a result, the equity ratio decreased by 2.3 points to 72.5%.

   3. Explanation on future estimates information pertaining to consolidated earnings forecasts

   There has been no revision to the consolidated forecasts for the fiscal year ending March 31, 2026, which were released on November 5, 2025.

2. Quarterly Consolidated Financial Statements and Notes

1. Quarterly Consolidated Balance Sheets
   
   

   Assets
   Current assets
   Cash and deposits	13,610	17,678
   Notes and accounts receivable - trade	13,604	11,356
   Securities	218	110
   Merchandise and finished goods	7,651	8,362
   Work in process	789	851
   Raw materials and supplies	2,542	2,970
   Other	2,989	3,138
   Allowance for doubtful accounts	(174)	(185)
   Total current assets	41,232	44,283
   Non-current assets
   Property, plant and equipment
   Buildings and structures	23,982	24,380
   Accumulated depreciation	(16,895)	(17,452)
   Buildings and structures, net	7,087	6,927
   Machinery, equipment and vehicles	7,450	8,198
   Accumulated depreciation	(6,485)	(6,858)
   Machinery, equipment and vehicles, net	965	1,339
   Tools, furniture and fixtures	12,897	13,591
   Accumulated depreciation	(12,093)	(12,500)
   Tools, furniture and fixtures, net	803	1,091
   Land	17,755	17,793
   Leased assets	310	300
   Accumulated depreciation	(126)	(153)
   Leased assets, net	183	146
   Construction in progress	582	555
   Other	9,304	9,554
   Accumulated depreciation	(7,510)	(7,515)
   Other, net	1,794	2,038
   Total property, plant and equipment	29,172	29,892
   Intangible assets
   Goodwill	2,308	1,900
   Software	1,104	1,285
   Other	2,027	1,946
   Total intangible assets	5,440	5,132
   Investments and other assets
   Investment securities	4,288	4,596
   Long-term loans receivable	10	10
   Deferred tax assets	1,631	1,511
   Retirement benefit asset	3,574	3,804
   Other	3,574	3,393
   Allowance for doubtful accounts	(12)	(9)
   Total investments and other assets	13,066	13,305
   Total non-current assets	47,678	48,330
   Total assets	88,911	92,613

   (Millions of yen) As of March 31, 2025 As of December 31, 2025

   
   
   

   Liabilities

   (Millions of yen) As of March 31, 2025 As of December 31, 2025

   Current liabilities

   Notes and accounts payable - trade	5,556	6,303
   Short-term borrowings	1,404	3,620
   Current portion of long-term borrowings	563	751
   Income taxes payable	788	473
   Provision for bonuses	1,992	1,144
   Provision for bonuses for directors (and other officers)	52	67
   Provision for product warranties	27	24
   Other	7,607	8,328
   Total current liabilities	17,990	20,713
   Non-current liabilities
   Long-term borrowings	2,445	1,881
   Deferred tax liabilities	31	541
   Retirement benefit liability	718	1,467
   Other	1,220	857
   Total non-current liabilities	4,414	4,747
   Total liabilities	22,405	25,461
   Net assets
   Shareholders' equity
   Share capital	14,114	14,114
   Capital surplus	14,779	14,779
   Retained earnings	38,213	38,234
   Treasury shares	(8,315)	(9,315)
   Total shareholders' equity	58,792	57,813
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	2,212	2,517
   Foreign currency translation adjustment	3,138	4,769
   Remeasurements of defined benefit plans	2,362	2,052
   Total accumulated other comprehensive income	7,713	9,338
   Total net assets	66,505	67,152
   Total liabilities and net assets	88,911	92,613

2. Quarterly Consolidated Statements of Income and Comprehensive Income

   (Quarterly Consolidated Statements of Income)
   		(Millions of yen)
   	Nine months ended December 31, 2024	Nine months ended December 31, 2025
   Net sales	57,087	56,473
   Cost of sales	23,070	22,319
   Gross profit	34,017	34,153
   Selling, general and administrative expenses	29,741	30,463
   Operating profit	4,275	3,689
   Non-operating income
   Interest income	184	168
   Dividend income	119	155
   Foreign exchange gains	-	272
   Other	146	163
   Total non-operating income	451	758
   Non-operating expenses
   Interest expenses	35	66
   Foreign exchange losses	64	-
   Loss on retirement of non-current assets	16	6
   Other	37	48
   Total non-operating expenses	154	121
   Ordinary profit	4,572	4,326
   Extraordinary income
   Gain on sale of investment securities	-	672
   Total extraordinary income	-	672
   Extraordinary losses
   Loss on liquidation of subsidiaries	-	101
   Business restructuring expenses	496	-
   Total extraordinary losses	496	101
   Profit before income taxes	4,075	4,898
   Income taxes	1,375	1,671
   Profit	2,699	3,226
   Profit attributable to owners of parent	2,699	3,226

   (Quarterly Consolidated Statements of Comprehensive Income)
   		(Millions of yen)
   Nine months ended December 31, 2024		Nine months ended December 31, 2025
   Profit	2,699	3,226
   Other comprehensive income
   Valuation difference on available-for-sale securities	307	304
   Foreign currency translation adjustment	787	1,631
   Remeasurements of defined benefit plans, net of tax	(208)	(310)
   Total other comprehensive income	886	1,625
   Comprehensive income	3,585	4,851
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	3,585	4,851

   Comprehensive income attributable to non-controlling － －

   interests

3. Notes on quarterly consolidated financial statements (Notes on segment information)

   1. Nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)

      Information on sales and income or loss for each reportable segment

      (Millions of yen)

      	Printing equipment-related business	Real estate business	Others	Adjustments	Total
      Net sales: Outside customers Inter-segment	55,799 0	773 -	515 -	- (0)	57,087 -
      Total	55,799	773	515	(0)	57,087
      Segment profit (loss)	4,041	495	(260)	-	4,275

      Notes: 1. The printing equipment-related business includes both the printing equipment business and the inkjet head business.

   2. The business segment "Others" encompasses businesses not included in the reportable segments, and includes the print creating business, the digital communication business and the application software business, among others.

   3. Total amount of segment income (loss) coincides with the operating income in the quarterly consolidated statements of income.

Information concerning Impairment Loss on Non-current Assets or Goodwill by Reportable Segment (Significant Changes in the Amount of Goodwill)

In the Printing Equipment-Related Business segment, goodwill has been recorded from the semi-annual period ended September 30, 2024, in association with the succession of the inkjet head business from Toshiba Tec Corporation and its consolidated subsidiary, Tec Precision Co., Ltd., through an absorption-type company split by RISO Technologies Corporation, a newly established subsidiary of the Company. The increase in goodwill from this event amounted to 2,715 million yen during the nine months ended December 31, 2024.

1. Nine months ended December 31, 2025 (from April 1, 2025 to December 31, 2025)

   Information on sales and income or loss for each reportable segment

   (Millions of yen)

   	Printing equipment- related business	Real estate business	Others	Adjustments	Total
   Net sales: Outside customers Inter-segment	55,232 0	783 -	457 -	- (0)	56,473 -
   Total	55,232	783	457	(0)	56,473
   Segment profit (loss)	3,466	498	(274)	-	3,689

   Notes: 1. The printing equipment-related business includes both the printing equipment business and the inkjet head business.

   1. The business segment "Others" encompasses businesses not included in the reportable segments, and includes the print creating business, the digital communication business and the application software business, among others.

   2. Total amount of segment income (loss) coincides with the operating income in the quarterly consolidated statements of income.

During the nine months of the fiscal year ending March 31, 2026, the Company acquired treasury stock. As a result, treasury stock increased by 999 million yen during the period, and the balance of treasury stock at the end of the period was 9,315 million yen.

No items to report

We have not prepared a quarterly consolidated cash flow statement for the nine months of the fiscal year ending March 31, 2026. Furthermore, depreciation (including amortization of intangible assets excluding goodwill) and goodwill amortization for the period under review are as follows:

Nine months ended December 31, 2024

Nine months ended December 31, 2025