Financial Results Presentation Material For the Six Months Ended September 30, 2025

For the Six Months

Ended September 30, 2025

SATO SHOJI CORPORATION

東証プライム コ ード8065

TSE Prime Market Code No. 8065

1. 2026/3 Consolidated Interim Results 03
2. 2026/3 Consolidated Forecasts 10
3. About Sato Shoji Group 13

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

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1. ‌2026/3 Consolidated Interim Results

   3

   
   
   

   ‌1. 2026/3 Consolidated Interim Results

   Summary of Financial Results

   (Millions of yen; %)

   	2025/3 1H		2026/3 1H		Year-on year change
   	Amount	Composition ratio	Amount	Composition ratio	Amount	Percentage
   Net sales	139,794	100%			2,579	1.8%
   			142,373	100%
   Gross profit	10,601	7.6%	11,324	8.0%	723	6.8%
   Selling, general and administrative expenses	7,826	5.6%	8,095	5.7%	270	3.4%
   Operating profit	2,775	2.0%	3,229	2.3%	454	16.3%
   Ordinary profit	3,045	2.2%	3,520	2.5%	475	15.6%
   Profit before income taxes	3,965	2.8%	4,083	2.9%	118	3.0%
   Profit attributable to owners of parent	2,826	2.0%	2,930	2.1%	104	3.7%
   Earnings per share (yen)	134.18	-	139.38	-	-	-

   Key Points of Consolidated Financial Results

   ・・・Net sales, operating profit, ordinary profit, and profit all reached record highs for an interim period.

   Net sales

   142,373 million yen (up 1.8% year on year)

   In the Steel and Non-Ferrous Metals Divisions, despite strong sales to the key commercial vehicle and construction machinery industries, revenue decreased due in part to falling material prices. Meanwhile, in the Electronics Division, exports of materials for LCDs, semiconductors, and HDDs, as well as sales from new projects performed strongly, leading to a significant increase in revenue. In the Life Sales Division as well, sales of its own products remained strong, resulting in a significant increase in revenue.

   3,229 million yen (up 16.3% year on year)

   Operating profit

   Contributions from consolidated subsidiaries, particularly overseas affiliates, were significant.

   Profit

   2,930 million yen (up 3.7% year on year)

   In the interim period under review, profit rose 3.7% year on year to 2,930 million yen due to an increase in operating profit, despite a 433 million yen decrease in extraordinary income year on year to 570 million yen.

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   ‌1. 2026/3 Consolidated Interim Results

   Net Sales by Segment

   	Iron and Steel	Non-ferrous Metals	Electronics	Life Sales	Machinery and Tools	Business Development	Total
   2025/3 1H Net sales	89,342	21,146	19,877	4,265	2,933	2,228	139,794
   2026/3 1H Net sales	88,960	19,085	22,949	5,423	3,378	2,575	142,373
   Amount	△381	△2,061	3,072	1,157	445	346	2,578

   150,000

   2,228 2,575

   (Millions of yen)

   (Millions of yen)

   92,178

   18,890

   16,593

   19,877

   2,296 1,999

   4,265

   2,933

   5,423

   3,378

   100,000

   50,000

   0

   4,537

   19,945

   14,975

   89,620

   3,336

   3,606

   2,243

   21,146

   89,342

   22,949

   19,085

   88,960

   Business Development Machinery and Tools Life Sales

   Electronics

   Non-ferrous Metals Iron and Steel

   23/3 24/3 25/3 26/3

   中間期 中間期 中間 期 中間期

   2023/3 1H 2024/3 1H 2025/3 1H 2026/3 1H

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   Key

   Points

   • In the Steel and Non-Ferrous Metals Divisions, despite strong sales to the key commercial vehicle and construction machinery industries, revenue decreased due in part to

     falling material prices.

     Iron and Steel Department: -381 million yen (down 0.4%) / Non-ferrous Metals Department: -2,061 million yen (down 9.7%)

   • Meanwhile, in the Electronics Division, revenue grew significantly, increasing by 3,072 million yen (up 15.5%), driven by substantial growth in exports of materials for LCDs, semiconductors, and HDDs, as well as sales from new projects.

   • In the Life Sales Division as well, sales of its own products remained strong, resulting in a significant increase in revenue of 1,157 million yen (up 27.1%).

   
   
   

   ‌1. 2026/3 Consolidated Interim Results

   Balance Sheet

   (Millions of yen)

   (Millions of yen)

   Current assets 123,125	Current liabilities 90,569
   	Non-current liabilities 9,291
   	Net assets 71,939
   Non-current assets 48,673

   150,000

   100,000

   50,000

   		2025/3	2026/3 1H	YoY change
   Current assets		125,596	123,125	△2,471
   	Cash and deposits	3,912	4,848	936
   	Notes and accounts receivable - trade Electronic recorded monetary claims-operating	85,195	82,481	△2,714
   	Other assets	36,489	35,796	△693
   Non-current assets		45,547	48,673	3,126
   	Property, plant and equipment	24,587	25,768	1,181
   	Intangible assets	208	197	△11
   	Investments and other assets	20,751	22,708	1,957
   Total assets		171,143	171,799	656
   Total liabilities		102,688	99,860	△2,828
   	Current liabilities	92,257	90,569	△1,688
   	Non-current liabilities	10,431	9,291	△1,140
   Total net assets		68,454	71,939	3,485
   Total liabilities and net assets		171,143	171,799	656
   Equity ratio		39.8%	41.7%	1.9pt

   0

   Assets Liabilities and net assets

   6

   Key

   Points

   • Property, plant and equipment: The increase was mainly due to buildings and structures, reflecting the recognition of the Urayasu Steel Center and

     the Electronics Sanjo Logistics Center.

   • Investments and other assets: The balance increased by 1,545 million yen due to mark-to-market valuation gains despite the sale of some investment securities.

   
   
   

   ‌1. 2026/3 Consolidated Interim Results

   Cash Flow

   (Millions of yen)

   (Millions of yen)

   (1,243)

CF from investing activities

CF from

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Other

CF from operating activities

Cash and cash equivalents at end of period (2025/3)

financing activities

Cash and cash equivalents at end of period (2026/3 1H)

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Key

Points

• Cash flows from investing activities: -2,056 million yen in

  purchase of property, plant and equipment, 814 million yen in proceeds from sale of investment securities

• Cash flows from financing activities: -933 million yen in

increase

borrowings

(decrease)

in long-term and short-term

‌1. 2026/3 Consolidated Interim Results

Topic

To strengthen our logistics system, we relocated the Shiga Branch to

Konan, Shiga, and established new bases in Sanjo, Niigata and Urayasu, Chiba

To expand our business and further strengthen our logistics system, we relocated and expanded the Shiga Branch from Ritto-shi, Shiga Prefecture to Konan-shi in May 2025.

In addition, in August, we established two new bases:

Electronics Sanjo Logistics Center in Sanjo-shi, Niigata Prefecture and

Electronics Sanjo Logistics Center

Urayasu Steel Center in Urayasu-shi, Chiba Prefecture. Shiga Branch

Shiga Branch

• Both the site area and inventory capacity have more than doubled, enhancing on-site logistics and increasing productivity.

• Solar panels have been installed on the warehouse roof.

The facility consumes 100,000 kWh of power internally per year, contributing to carbon neutrality.

Urayasu Steel Center

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•

•

•

Location: 3-3-3 Chuo, Konan-shi, Shiga 520-3234

Site area: 10,124 m2

• Warehouse floor space: 5,684 m2

•

Main inventory items: Steel sheets (normal steel sheets, high-tensile steel sheets),

speciality steel round bars, flat bars, shaped steel, and steel pipes Inventory capacity: Approximately 3,000 tons

1. ‌2026/3 Consolidated Interim Results

   Topic

   New base Electronics Sanjo Logistics Center

   • Strengthens the logistics function of the Electronics Department.

     Provides comprehensive support from inventory management to delivery, including printed circuit board materials and semiconductor-related components.

   • We plan to develop and roll out semiconductor-related processed products and new materials, with future collaboration in mind with neighboring business partners.

     New base Urayasu Steel Center

     • We integrated the existing Shinonome and Urayasu warehouses in the Iron and Steel Department to establish a new base within the Urayasu Steel Park.

     • We are building an efficient logistics system while also giving consideration to sustainability through the use of environmentally friendly steel materials.

     • We are consolidating some of the head office's administrative functions, thereby strengthening cooperation between sales and management.

       This base relocation and establishment of new bases will strengthen our logistics network while expanding the business infrastructure.

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       Main inventory items: Speciality steel round bars, speciality steel flat bars, steel sheets (high-tensile steel sheets,

       abrasion-resistant steel sheets, sulfuric acid-resistant steel sheets, speciality steel sheets), and dense bar Inventory capacity: Approximately 6,000 tons

       •

       • Warehouse floor space: 3,898.11 m2

       Site area: 5,823.78 m2

       Location: 4 Minato, Urayasu-shi, Chiba 279-0024

       •

       •

       •

       Main inventory items: Printed circuit board materials, semiconductor-related components, imported sub-materials,

       laminated board raw materials, chemicals, ink, etc.

       Inventory capacity: Approximately 500 pallets in an ambient temperature warehouse and approximately 100 pallets in a temperature-controlled warehouse (temperature and humidity controlled to between 5°C and 20°C)

       Note: All figures are pallet equivalents.

       •

       • Warehouse floor space: 3,182 m2

       Site area: 7,918 m2

       Location: 539-5 Hitotsuyashikishinden, Sanjo-shi, Niigata 959-1152

       •

       •

       •

       
       
       
       1. ‌2026/3 Consolidated Forecasts

          10

          
          
          

2. ‌2026/3 Consolidated Forecasts

(Millions of yen; %)

Future Outlook

Regarding the future outlook, although the economy is expected to continue its gradual recovery due to improvements in employment and income conditions, numerous concerns persist, including rising energy prices, fluctuations in interest rates and exchange rates, tariff policies under the Trump administration, and geopolitical risks. As a result, the outlook remains uncertain.

Under such circumstances, our group will continue to focus on addressing key challenges to achieve sustainable growth in response to the diversifying environment, guided by the vision of "Three SINKA" set forth in our Third Medium-Term Management Plan.

For the consolidated earnings forecast for the next fiscal year, we anticipate net sales of 290 billion yen, operating profit of 6.8 billion yen, ordinary profit of 7.2 billion yen, and net profit attributable to owners of the parent of 5.6 billion yen.

The forecast for net income is expected to decrease by 415 million yen year-on-year, mainly due to a gain on the sale of fixed assets of 478 million yen recorded in the previous fiscal year.

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1. ‌2026/3 Consolidated Forecasts

   Dividend Forecast

   Dividend Policy

   • Dividend of at least 30% of consolidated deemed profit* and a minimum annual dividend of 76 yen per share

   • Dividends of surplus will be paid twice a year in principle: interim and year-end

     (Millions of yen)

     100

     80

     73 yen 76 yen 76 yen

     50.0%

     40.0%

     	2024/3 Results	2025/3 Results	2026/3 (Forecast)
     Dividend per share	73 yen	76 yen	76 yen
     Consolidated profit	6,478	6,015	5,600
     Payout ratio	23.8%	26.6%	28.6%
     Consolidated deemed profit	5,059	4,989	4,995
     Deemed payout ratio	30.4%	32.1%	32.0%

     60

     30.4%

     40

     20

     32.1%

     32.0%

     30.0%

     20.0%

     10.0%

     0 2024/3 2025/3 2026/3

     (forecast)

     Dividend Deemed payout ratio

     0.0%

     * Consolidated deemed profit: Consolidated ordinary profit x (1 - Effective tax rate)

     12

     
     
     
     1. ‌About Sato Shoji Group

     13

     
     
     

2. ‌About Sato Shoji Group

14

‌3. About Sato Shoji Group

41 branches in Japan

Centered on its Tokyo Head Quarters, Sato Shoji has warehouses, machining facilities, and distribution centers in a network of 41 branches in Japan, establishing a system that enables swift responses to customers' requests. The Iron and Steel Department has coil centers in Tamura-shi in Fukushima Prefecture, Tochigi-shi in Tochigi Prefecture, and Fujisawa-shi in Kanagawa Prefecture. We have a variety of equipment and are enhancing our machining and distribution functions to enable us to meet our customers' strict machining accuracy requirements.

Koriyama Coil Center

Tamura, Fukushima

Tochigi Coil Center

Tochigi, Tochigi

Kanagawa Coil Center

Fujisawa, Kanagawa

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Head Quarters

Branch

Coil center

‌3. About Sato Shoji Group

The Sato Shoji Group has 11 subsidiaries and affiliated companies with 14 locations in Japan. They include companies from a variety of industries, with a focus on the Iron & Steel business.

Making effective use of our network of domestic bases and these subsidiaries and affiliated companies spanning the whole of Japan, we will strive to improve sales efficiency and promote the further expansion of our business fields.

1 Consolidated subsidiary

NK TECH NIIGATA K.K.

Iron & Steel product manufacturing

2 Consolidated subsidiary

NIHON YOSHOKKI CO., LTD.

Metal sundries manufacturing

Consolidated subsidiary

SATO CHEMIGLASS CORPORATION

Processing and sales of glass materials and synthetic resin products Tsukuba Techno Center

Consolidated subsidiary FUJI JIDOSHA KOGYO CO., LTD.

Automotive components Manufacturing

Atsugi Factory

8 Consolidated subsidiary

METAL ACT CO., LTD.

Iron & Steel sales

11

12

14

Equity method affiliate

INOUE MATERIAL Co., LTD.

Mineral & Metal material sales

SATO GENETEC CORPORATION

Operation/management of car parking and bicycle parking lots; Nonlife insurance agent

SHONAN KAKOU K.K.

Steel stock processing

SEKINE KOZAI K.K.

Steel stock sales

1

2

3 9 8

10

4

14

12

11

5 Consolidated subsidiary

DAITO KOGYO CO., LTD.

Steel stock processing and sales

Consolidated subsidiary

HANSHIN SPECIAL STEEL CO., LTD.

Iron & Steel sales

Utsunomiya branch

6 7 13 15

16

Head Quarters

Branch

Affiliate

‌3. About Sato Shoji Group

21 overseas locations

Our first step overseas was the establishment of SATO SHOJI HONG KONG CO., LTD. in 2004. Since then, the Sato Shoji Group has established business bases in 21 locations in 11 countries and regions. United as one, the Group will work together to strengthen and expand our overseas business, with a particular focus on the Asian region.

• Consolidated subsidiary ● Equity method affiliate

Overseas Sales Companies

A

SATO SHOJI HONG KONG CO., LTD.●

Electronic materials sales

B

SATO SHOJI SHANGHAI CO., LTD.●

Iron & Steel, Non-ferrous Metals and Electronic materials sales

C

CHANGZHOU BRANCH

D

Iron & Steel and Non-ferrous Metals sales; Steel material warehouses

SATO CHEMICAL GLASS (SUZHOU) CO., LTD.

Synthetic resins and Glass products sales

E

SATO SHOJI (GUANGZHOU) CO., LTD.●

Electronic materials and Iron & Steel sales

F

SATO SHOJI KOREA CO., LTD.

Electronic materials and Iron & Steel sales

G

SATO-SHOJI (THAILAND) CO., LTD.●

Iron & Steel, Electronic materials, and Non-ferrous Metals sales

H

SATO TECHNO SERVICE (THAILAND) CO., LTD.

Machining tools sales; Machinery repair services

SATO-SHOJI (VIETNAM) CO., LTD.●

I

Non-ferrous Metals and Iron & Steel sales

J

HANOI BRANCH

Iron & Steel and Non-ferrous Metals sales

K

SATO-SHOJI (CAMBODIA) CO., LTD.

Non-ferrous Metals sales

L

SATO SHOJI ASIA PACIFIC PTE. LTD.●

Electronic materials sales

M

PT. SATO-SHOJI INDONESIA●

Iron & Steel and Non-ferrous Metals sales

N

SATO-SHOJI INDIA PRIVATE LIMITED

Iron & Steel and Non-ferrous Metals sales

O

PS DEVICE & MATERIAL INC.

Electronic materials sales

P

SATO SHOJI MALAYSIA SDN. BHD.

Electronic materials sales

Joint Venture Manufacturing Companies

Q

SOGABE (SUZHOU) GEAR REDUCER CO., LTD.

Manufacturing of Gear reducers

R

UCHIDA-SATO TECH (THAILAND) CO., LTD.

Manufacturing of Die holders for forging

S

YUASA SATO (THAILAND) CO., LTD.●

Manufacturing of Crankshafts

THAI KJK CO., LTD.

T

Manufacturing of Automotive components

U

POLYHOSE SATO SHOJI

METAL WORKS PRIVATE LIMITED

Steel stock processing and Can fabrication

SATO-SHOJI (THAILAND)

Electronics Dept. warehouse

17

‌3. About Sato Shoji Group

Iron and Steel Dept.

"Iron and Steel" will retain a leading role throughout the 21st century

Machinery and Tools Dept.

Factory automation advisory services to reinforce manufacturing operations

Non-ferrous Metals Dept.

Proactive development from raw ore into new materials and onto leading-edge high-tech fields

Life Sales Dept.

We offer a lifestyle based on design

Electronics Dept.

Providing a bridge between innovative technologies and products for our age

Business Development Dept.

Solutions to environmental problems

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‌3. About Sato Shoji Group

• Blast furnace manufacturers

• Electric furnace manufacturers

19

‌3. About Sato Shoji Group

• Domestic suppliers

• Overseas suppliers

Goods handled

① Non-ferrous metal business

Aluminum ingots and alloy

② Non-ferrous metal raw materials business Metallic silicon

➃ Processed parts business

• Automotive manufacturers • Tier 1 manufacturers

• Commercial vehicle • Tier 2 manufacturers manufacturers

⑤ Non-ferrous die-casting peripheral equipment business

• We build commercial distribution including exports to and imports from domestic/overseas suppliers and trilateral trade, responding to regulatory requirements of destination countries and customers needs.

  Partner metalworking manufacturers

• In addition to material supply, we are able to supply finished

③ Non-ferrous material business

Aluminum rolling/Extruded material/Super alloys

Casting, pressing, cutting, assembly, etc.

products and assemblies in cooperation with partner companies in Japan and overseas.

20

‌3. About Sato Shoji Group

Proposal of materials and products using our network

Materials

Processing manufacturers

Installers / End users

• Manufacturers

• PCB

• Semiconductors

• Electronic components

• Resin processing

• Air conditioning equipment

• HDD

• EMS

• We offer one-stop services that leverage warehouse functions and infrastructure in individual locations, focusing mainly on Asia. We also help our customers to reduce their logistics costs.

Customers' factories

21

• Japan • Southeast

• China

• Korea

Asia

• India, etc.

‌3. About Sato Shoji Group

Forging machines

FA equipment/ Automation robots

Machining tools

Suppliers Customers (manufacturers)

• Commercial vehicles

• Automobiles

• Automotive components

• Construction machinery

• Agricultural machinery

• Industrial machinery

• Shipbuilding

• Domestic machinery manufacturers

• Overseas machinery manufacturers

Key products handled

Surface treatment apparatus/

Die-casting machines

Cutting tools

22

‌3. About Sato Shoji Group

Life Sales Dept.

Food-service supplies for commercial use

Silverware / Kitchen utensils

Suppliers

Customers

• Own factory

• Manufacturers/partner

factories in Japan and overseas

Home appliances

Cooking, beauty, entertainment appliances, electric scooters

Houseware

Kitchenware Dinnerware

Directly managed stores

23

• Trading companies /

  Wholesalers

• Distance selling e-commerce Catalog selling TV shopping

• Food service

Hotel chains Restaurant chains Ocean cruise liners

• Overseas

Distributors

• Retailers

Lifestyle shops

GMS / Food supermarkets Appliance stores

Owned shops

Brands we handle

Martian, D&S, KEVNHAUN, ON STAGE, Sori Yanagi, DANSK, Segway-Ninebot

OEM

development

‌3. About Sato Shoji Group

Building and roof renovation/repair

Suppliers Customers

LED lighting

Overhead cranes

Mainly customers of the Iron and Steel Dept.

• Commercial vehicle manufacturers

• Construction machinery manufacturers

• Fabricators

• General contractors, etc.

(Installation in factories, offices, etc.)

• Environmentally conscious product manufacturers

Key products handled

Cooling equipment

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‌3. About Sato Shoji Group

From its unique position and competitive strengths as an independent metal trading company that links users and manufacturers directly, Sato Shoji leverages its flexible and wide-ranging procurement capabilities and quick responsiveness to offer high added value to customers.

Each department offers flexible services in response to customers needs, providing support to a wide range of customers.

A key characteristic of Sato Shoji is its diverse divisions, namely the Iron and Steel, Non-ferrous Metals, Electronics, Machinery and Tools, Life Sales, and Business Development departments, which work for different industries and customer segments. This diversification helps avoid reliance on a single market and diffuses risks.

With 41 locations in Japan and 21 locations overseas, we place importance on a regionally focused approach. In particular, we are expanding our business in the rapidly growing Asian region and enhancing our competitiveness amid the progress of globalization.

Our diversified business operations, including Iron and Steel, Non-ferrous Metals, Electronics, Machinery and Tools, and Life Sales, have enabled Sato Shoji to be more than just a supplier of goods for corporate customers and become their comprehensive business partner.

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‌Disclaimer

• The purpose of this material is to provide information about business performance, and it is not intended as a solicitation of investment in the securities issued by the Company.

• The information and forecasts presented in this material are based on information available to the Company at the time of preparing the material, and they contain certain judgments made by the Company. No guarantee is given as to the accuracy of the information, and actual performance and results may differ due to various future factors.

• The Company shall bear no responsibility whatsoever for any impact or damage that may result from the information in this material.

• All rights to this material remain with the Company, and readers are asked not to copy or reproduce the material in any way or for any purpose without permission.

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Contact for inquiries:

PR & IR Dept.

https://www.satoshoji.co.jp/en/contact.html