Presentation Material for Financial Results Q2 FY2025

‌FY2025 Second Quarter‌

Financial Results

H1 FY2025 (From April 1, 2025 to September 30, 2025)

Scroll Corporation

(TSE Prime Market: 8005)

‌Index

１．FY2025 Second Quarter Results

(FY2025 First Half)

Ｐ.２

２．Progress of Medium- to Long-Term Vison

/ FY2025 Management Plan Marketing Solution Company

３．Full-year Results Forecasts for FY2025

４．Appendix

Business Overview / Company Profile

Ｐ.13

Ｐ. 19

Ｐ. 24

‌FY2025 Second Quarter Results

(FY2025 First Half)

‌Highlights (consolidated)

Increased in sales but decreased in profit

・Sales increased, driven by the growth of the Solutions Business.

・Profit decreased due to the impact of a decline in orders for the Mail-order Business and the E-commerce Business, as well as the recording of extraordinary losses, including an impairment loss on goodwill.

* We have recorded 699M in extraordinary losses, including an impairment loss on goodwill.

* Yen(¥) denotes Japanese yen. The same notation is used on all pages below.

‌Monthly sales (consolidated)

• Monthly sales increased YoY growth in every month.

  （Millions of yen）

  9,000

  FY2022

  FY2020

  FY2025

  FY2024

  FY2021

  FY2023

  FY2019

  
  
  

  8,000

  7,000

  6,000

  5,000

  4,000

  Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar.

  * Figures for FY2019 and FY2020 on this page are figures before the application of the Accounting Standard for Revenue Recognition, etc. It is displayed for reference.

  
  
  

  ‌Analysis of sales increase/decrease (consolidated)

  ・On a consolidated basis, sales increased.

  ・The growth in the Solutions Business offset the decline in revenue from other

  segments.

  Solutions Business

  Mail-order Business

  E-commerce Business

  Group Jurisdiction Business

  Adjustments

  （Millions of yen）

  + 3,375

  + 69

  42,569

  40,914

  - 1,576

  + 159

  - 372

  H1 FY2024

  H1 FY2025

  * We have changed some of the reportable segment classifications from FY2025.

  (Some overseas subsidiaries that were included in the Group Jurisdiction Business until FY2024 have been transferred to the Mail-order Business.)

  
  
  

  ‌Analysis of ordinary profit increase/decrease

• The Solutions Business increased sales and improved profit margins, resulting in an increase in profit.

• The Mail-order Business struggled to secure orders, resulting in a significant decrease in profit. For the E-commerce Business, a drop in revenue, combined with insufficient reductions in fixed costs, led to a decrease in profit.

  Solutions Business:

  Profit growth from Improvement in higher revenue profit margins

  Mail-order Business: Profit decline from lower revenue

  Others

  （Including Ecommerce Business）

  （Millions of yen）

  4,075

  + 85

  - 849

  3,297

  - 117

  + 104

  H1 FY2024

  H1 FY2025

  
  
  

  ‌Segment Performance (H1 FY2025 Actual)

  	Net sales	Segment profit	（Millions of yen）
  			Increased in sales and
  			profit
  Solutions Business	17,304	564	The service business remained solid.
  	(+24.2％)	(+50.3％)	In our payment processing, the
  			allowance for doubtful accounts
  			ratio has been improving.
  			Decreased in sales and
  Mail-order Business	19,171 (-7.6％)	2,676 (-24.1％)	profit Struggled to secure orders for the summer season. Focused on maintaining
  			profitability.
  E-commerce Business	6,641 (-5.3％)	-70 (+41 in H1 FY2024)	Decreased in sales and profit Focused on completing the business restructuring.

  * We have changed some of the reportable segment classifications from FY2025.

  (Some overseas subsidiaries that were included in the Group Jurisdiction Business until FY2024 have been transferred to the Mail-order Business.) For the comparison with the previous period, we have adjusted the figures from the previous year to reflect the new reporting segments.

  
  
  

  ‌Solutions Business Segment

  • Increased in sales and profit, driven by the growth of various services such as logistics outsourcing and marketing support.

  • In our payment processing, we strengthened receivables collection and

    management, and the allowance for doubtful accounts ratio has been improving.

    （Millions of yen）

    H1 FY2025

    Net sales： Segment profit：

    17,304 564

    （YoY +24.2％） （YoY ＋50.3％）

    Quarterly sales

    YoY for Q2

    
    
    

    +1,639

    (+23.4%)

    Quarterly Segment profit

    401

    （Millions of yen）

    YoY for Q2

    +69

    8,656 8,637 8,663 8,641

    6,927

    7,001

    Q1

    Q2

    Q3

    Q4

    Q1

    Q2

    FY2024 FY2025

    156

    219

    113

    275

    288

    (+31.8%)

    Q1 Q2 Q3 Q4 Q1 Q2

    FY2024 FY2025

    
    
    

    ‌Mail-order Business Segment

  • A struggle to secure apparel orders for the summer season led to a decrease in both sales and profit.

  • Promoted business efficiency improvements, such as inventory control and

    curbing promotional expenses.

    （Millions of yen）

    H1 FY2025

    Net sales： Segment profit：

    19,171 2,676

    （YoY -7.6％） （YoY -24.1％）

    Quarterly sales

    YoY for Q2

    -696

    Quarterly segment profit

    （Millions of yen）

    11,052

    9,695

    9,772

    8,473

    10,172

    8,999

    Q1

    Q2

    Q3

    Q4

    Q1

    Q2

    FY2024 FY2025

    (-7.2%) YoY for Q2

    2,056

    -376

    1,469

    1,583

    1,227

    1,093

    456

    Q1

    Q2

    Q3

    Q4

    Q1

    Q2

    FY2024 FY2025

    (-25.6%)

    
    
    

    ‌E-commerce Business Segment

  • Promoting the completion of business restructuring and the transformation of our business model.

    （Millions of yen）

    H1 FY2025

    Net sales： Segment profit：

    6,641 -70

    （YoY -5.3％） （41 H1 in FY2024）

    Quarterly sales

    4,399

    YoY for Q2

    -104

    (-2.9%)

    Quarterly segment profit

    108

    29 11 13

    （Millions of yen）

    YoY for Q2

    -4

    (-39.0%)

    3,416

    3,597

    3,869

    3,148

    3,492

    Q1

    Q2

    Q3

    Q4

    Q1

    Q2

    FY2024 FY2025

    7

    Q1 Q2 Q3 Q4 FY2024

    -77

    Q1 Q2 FY2025

    
    
    

    ‌Balance sheet statement (consolidated)

  • Maintaining a healthy financial position through the recognition of net profit.

    	March 31,	September	Changes
    (Millions of yen)	2025	30, 2025	amount
    Current assets	38,679	38,455	-223
    Non-current assets	17,352	17,966	+613
    Total assets	56,032	56,422	+389
    Current liabilities	17,903	16,923	-979
    Non-current liabilities	1,658	1,702	+44
    Total liabilities	19,561	18,625	-935
    Total net assets	36,470	37,796	+1,325
    Total liabilities and net assets	56,032	56,422	+389
    Equity ratio	65.1%	67.0%	+1.9P

    ＜Main factors of increase/decrease＞

    Cash and deposits ＋1,972 Accounts receivable - other -1,698

    Accounts payable - other -382 Provisions -236

    Net profit ＋1,537

    
    
    

    ‌Cash flows statement (consolidated)

• Cash and cash equivalents at the half end of period is ¥8,598 million(¥2,972 million increased compared to the end of the previous consolidated fiscal year)

（Millions of yen）

8,598

5,625

Cash flows from

investing activities

- 945

- 12

Cash flows from

financing activities

Others

Cash flows from

operating activities

3,872 58

Cash and cash equivalents at the beginning of period

Cash and cash equivalents at the half end of period

＜Main factors of increase/decrease＞

Net profit before income taxes ＋2,597 Increase in accounts receivable - other ＋1,355

Purchase of property plant and equipment -357 Acquisition of consolidated subsidiary shares -458

Cash flows from financing activities

Cash dividends paid -944

‌Progress of Medium- to Long-Term Vison‌ / FY2025 Management Plan Marketing Solution Company

‌FY2025 Key Policies

Strengthening earning power by pursuing uniqueness

ソリューションメニューの選択と 集中で収益力を向上する

• あらゆる提供サービスに付加価値を加え、収 益力を向上させる

• ＬＰＢ（Logi,Payment,BPO）をメインメニューとし て経営資源を集中する

• Ｍ＆Ａを通じて、ＭＳ機能の進化と領域拡大 を図る

ソリューショ ン事業

Shift to high value-added businesses tailored to customer needs.

Improving profitability through selection and concentration of solution offerings

• Adding value to all service offerings and improving profitability.

• We will focus on LPB (Logistics, Payment, BPO) as our main offering and concentrate management resources on it.

• We aim to achieve the evolution of Marketing Solution functions and domain expansion through M&A.

Anticipating the market 5 to 10 years ahead and keeping our business structure flexible

• Continuously making changes, large or small, and enhancing the value of products and services.

• Pursue efficiency and productivity unaffected by the business environment, and generate maximum profit.

• Establish the apparel solution business in the market.

Complete the business restructuring and rebuild the business into a sustainable and repeatable model

• Control the gap between planning and execution without falling into over-planning.

• Make business decisions promptly based on business environment forecasts.

• Lay the groundwork for tomorrow, regardless of the scale of the matter.

‌Initiatives for Management Conscious of Capital Cost and

Stock Price

・ROE recovered, driven by stay-at-home demand during the COVID-19 pandemic and the business structure reform of the Mail-order Business.

・We achieved a return on capital exceeding our cost of capital, and have since maintained it at a high level.

・We recognize that our PBR, which is around 1.0x, indicates that the stock market has low expectations for our future growth potential.

・Driving the management plan to achieve our Medium- to Long-Term Vision. (Fostering growth expectations through the growth of the Solutions Business)

・Accelerating business portfolio transformation. (Allocating management resources based on return on capital)

・Enhancement of Shareholder Returns.

(Millions of yen) (times)

25.0%

8,000

1.6

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.0

20.0% 6,000

1.0

15.0%

10.0%

5.0%

4,000

2,000

0.0%

FY 2019 2020 2021 2022 2023 2024

WACC ROIC ROE

0

FY2019 2020 2021 2022 2023 2024

Ordinary profit Net profit PBR

‌Initiatives for Management Conscious of Capital Cost and

Stock Price (Improvement Initiatives)

• Driving the management plan to achieve our Medium- to Long-Term Vision

  Medium- to Long-Term Vision（A true "MSC"）

Through our market-needs-driven corporate value enhancement cycle, we will enhance profitability and improve capital efficiency to achieve our quantitative targets and meet the expectations of our stakeholders.

‌Promotion of Business Portfolio Management

• In terms of business efficiency, we monitor profitability using ROIC, WACC, and the spread between them.

• For unprofitable and low-growth businesses, the validity of their next-term plans will be deliberated by the Business Review Council.

Composed of outside

directors

Deliberate on the validity of the business plan, also from an external perspective.

Deliberating on the continued viability of existing businesses that fail to meet our exit policy criteria.

Research on new investment opportunities

Business plan development Establishment of an exit

policy

Using WACC as a hurdle rate

Monthly monitoring

A final decision on whether to continue a business is made following a review process, including deliberations by the Business Review Council.

A re-deliberation will be triggered if there is a downward deviation from the approved profit plan.

The Board of Directors makes the final determination on the viability of existing businesses based on a WACC-based evaluation, following deliberations by the Business Review Council, which is composed of outside directors.

‌Enhancement of Shareholder Returns: Introduction of a

Progressive Dividend and Acquisition of Treasury Shares

・In order to provide continuous and stable returns to our shareholders, we have decided to introduce a progressive dividend and have also resolved to acquire of treasury shares.

We are considering strengthening our future shareholder returns, including through dividend increases based on a DOE standard and by raising the dividend payout ratio. We will promptly disclose the new policy as soon as it is finalized.

(Millions of yen)

6,000

4,000

64.5

48

60

59

52

42 Baseline for a progressive dividend

We aim to increase dividends, taking into account our

2,000 10

0

Acquisition of

treasury shares

¥1 billion

Dividends

¥2 billion

progress in achieving our capital efficiency (ROE) targets and the status of our investments.

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Shaholder returns

Net profit

Dividends

Acquisition of treasury shares

2019

2020

2021

2022

2023

2024

2025 …

(Forecast)

Dividends per share

Copyright© Scroll Corporation. All Rights Reserved.

Copyright© Scroll Corporation. All Rights Reserved. 18

‌Full-year Results Forecasts for FY2025‌

‌Full-year Results Forecasts for FY2025 (consolidated)

• In light of the recording of extraordinary losses, including an impairment loss on goodwill, we have revised our consolidated full-year results forecasts for FY2025 as follows.

  FY2024 Actual （Millions of yen）	FY2025 Forecast		Changes amount Bottom: (% change) / [*]
  	Previous forecasts (announced on May 7, 2025)	New forecasts (announced on October 31, 2025)	Vs FY2024 Actual	Vs Previous forecasts
  Net sales 84,030	85,000	87,000	+2,969	+2,000 (+2.4%)
  			(+3.5%)
  Operating profit 6,052 (Operating profit / net (7.2%)	5,800 (6.8%)	5,400 (6.2%)	-652	-400 ［-0.6P］
  			［-1.0P］
  Ordinary profit 6,424 (Ordinary profit / net (7.6%)	6,000 (7.1%)	5,800 (6.7%)	-624	-200 ［-0.4P］
  			［-1.0P］
  Profit attributable to 4,267 owners of parent	4,000	3,100	-1,167	-900
  Earnings per share 11.2%	10.7%	8.4%	-2.8P	-2.3P

  * Ordinary profit/Net sales changes rate

  
  
  

  ‌Summary of Full-year Results Forecasts for FY2025 (By segment)

  • Broken down by segment, we have revised our forecast as follows.

（Millions of yen）

*1 YoY changes rate

*2 Ordinary profit/Net sales

*3 Ordinary profit/Net sales changes rate

** We have changed some of the reportable segment classifications from FY2025.

On this page, FY2024 actual are presented on a reclassified basis for comparison with the previous year.

‌About shareholder return（Announced October 31 ,2025）

• Basic policy on shareholder return（FY2025 onwards）

  ・We promote ROE-oriented management, aiming for direct profit returns and the maximization of the medium to long term shareholder value.

  ・Regarding dividends, our basic target is to implement a progressive dividend, based on the principle of providing stable and continuous payments.

  ・While continuing to implement growth investments aimed at maximizing corporate value and provide stable profit distribution, we will also flexibly acquire of treasury shares and other measures to return value to our shareholders.

• FY2025 Dividends per share（Forecast）

  ・Dividends forecast for FY2025 is as follows :

  Annually dividends （Yen）

• Acquisition of treasury shares

・At the meeting of the Board of Directors held on October 31, 2025, the Company passed a resolution regarding the acquisition of treasury shares, as follows.

48.0

51.5

42.0

64.5

59.0

Year-end dividends

Interim dividends

FY2021 FY2022 FY2023 FY2024 FY2025

Actual Forecast

Interim dividends ¥29.5

Year-end dividends（Forecast） ¥29.5

Annual dividends（Forecast） ¥59.0

‌Change in Shareholder Benefit Program

• We will partially amend the Shareholder Benefit Program effective for the record date of March 31, 2026, as the original objectives for introducing the program have been achieved.

Details of the Changes

1. Shareholders who hold 100 shares or more but less than 300 shares will receive a flat 500 yen QUO card.

2. The category of 300 shares or more but less than 1,000 shares will be newly established.

3. For shareholders who hold 1,000 shares or more but less than 10,000 shares, the current Shareholder Benefit will be uniformly increased by 1,000 yen.

‌Appendix‌

Business Overview / Company Profile

‌Business Segments and Overview

（As of September 30, 2025）

Solutions Business

E-commerce

Business

Group Jurisdiction Business

We offer a "One-Stop Solution Service" to support e-commerce/mail-order business vendors 360-degree.

Mail-order

Business

We primarily offer mail-order sales (catalog and some online) targeting members of co-op

home delivery services.

SCROLL

TRADING (SHANGHAI) Co.,LTD.

SCROLL

VIETNAM CO.,LTD.

SCROLL BANGLADESH CO.,LTD.

We mainly conduct internet sales of specialized products through our own website and online shopping malls.

We manage logistics centers at various locations nationwide, utilize real estate effectively.

* We have changed some of the reportable segment classifications from FY2025.

(Some overseas subsidiaries that were included in the Group Jurisdiction Business until FY2024 have been transferred to the Mail-order Business.)

‌Company Profile

Scroll Corporation Headquarters

President and CEO

Established Stock code Capital

Main business activities

: 2-24-1 Sato, Chuo-ku, Hamamatsu-shi, Shizuoka

: Tomohisa Tsurumi

: October 1, 1943

: 8005 (TSE Prime Market)

: ¥6,229 million (As of September 30, 2025)

: Solutions Business for e-commerce/mail-order business vendors, as well as E-commerce and Mail-order Business of apparel, general merchandise, etc.

"Scroll Group Integrated Report 2025"

Issued on June 30, 2025

Highlights of the report

・Top Message

・Value Creation Story

・Interviews with external board members

• Disclosure of "Scroll Group Integrated Report 2025"

https://www.scroll.jp/ir/annual/

(Available in Japanese only.)

‌Contact Corporate Planning Department, Corporate Management Division Telephone : +81-53-464-1114 (direct line)

E-mail : ir＠mb.scroll.jp

★Caution regarding forward-looking statements

The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. These statements do not purport that the Company pledges to realize such statements. Actual business and other results may differ from the forecast figures due to various factors going forward.