Second Quarter Financial Results （PDF: 401.7KB）

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

October 31, 2025

Company name: Toyota Boshoku Corporation

Listing: Tokyo Stock Exchange / Nagoya Stock Exchange

Securities code: 3116

URL: https://www.toyota-boshoku.com/global/ Representative: Masayoshi Shirayanagi President

Inquiries: Masataka Asano Division General Manager, Accounting & Finance Division Telephone: +81-566-26-0313

Scheduled date to commence dividend payments: November 26, 2025 Scheduled date to file semi-annual securities report: November 12, 2025 Preparation of supplementary material on financial results: Yes

Holding of financial results briefing: Yes (for analysts and institutional investors)

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

1. Consolidated financial results for the Six Months Ended September 30, 2025 (from April 1, 2025 to September 30, 2025)

   1. Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.)

      	Revenue		Operating profit		Profit before income taxes		Profit for the period		Profit attributable to owners of the parent		Comprehensive income
      Six months ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
      September 30, 2025	972,279	2.5	37,041	9.5	39,428	19.7	21,974	17.4	17,423	29.0	28,279	231.5
      September 30, 2024	948,165	(1.6)	33,837	(31.8)	32,926	(40.2)	18,724	(45.0)	13,506	(53.3)	8,531	(84.1)

      	Earnings per share attributable to owners of the parent - Basic	Earnings per share attributable to owners of the parent - Diluted
      Six months ended	Yen	Yen
      September 30, 2025	97.56	97.53
      September 30, 2024	75.68	75.66

   2. Consolidated financial position

      	Total assets	Total equity	Equity attributable to owners of the parent	Ratio of equity attributable to owners of the parent
      As of	Millions of yen	Millions of yen	Millions of yen	%
      September 30, 2025	1,101,960	503,456	462,601	42.0
      March 31, 2025	1,094,831	490,067	447,420	40.9

2. Cash dividends

   	Annual dividends per share
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
   	Yen	Yen	Yen	Yen	Yen
   Fiscal year ended March 31, 2025	-	43.00	-	43.00	86.00
   Fiscal year ending March 31, 2026	-	43.00
   Fiscal year ending March 31, 2026 (Forecast)			-	43.00	86.00

   (Note) Changes in the forecasted cash dividends in this quarter: None

3. Forecast of consolidated financial results for the year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

Percentages indicate year-on-year changes

(Note) Changes in the forecast of consolidated financial results in this quarter: Yes

• Notes

  1. Changes in significant subsidiaries during the Six Months Ended of September 30, 2025 (changes in specified subsidiaries resulting in the change in scope of consolidation): Newly included: - company (Company name)

     Excluded: - companies (Company name)

     None

  2. Changes in accounting policies and changes in accounting estimates

     Changes in accounting policies required by IFRS: None

     Changes in accounting policies due to other reasons: None

     Changes in accounting estimates: None

  3. Number of shares issued (common shares)

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

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

*Review of the Japanese-language originals of the attached consolidated semi-annual financial statements by certified public accountants or an audit firm: None

*Explanation on the proper use of the forecast on financial results, and other information (Cautionary statement regarding forward-looking statements)

This report contains forward-looking statements based on information available to the Company as of the date hereof and assumptions which it believes are reasonable. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, therefore do not represent any guarantees of future performance. For more information on forecasts, please see "(3) Explanation of Consolidated Forecasts and Other Forward-Looking Information" under "1. Qualitative Information on the Financial Results" on page 2 of the appendix to this consolidated financial report.

(How to obtain supplementary financial results material)

Supplementary financial material will be posted on the Company's website on October 31, 2025(JST)

(Appendix) Contents

1. Qualitative Information on the Financial Results 2

   1. Explanation of Business Results… 2

   2. Explanation of Financial Position 2

   3. Explanation of Consolidated Forecasts and Other Forward-Looking Information 2

2. Consolidated Financial Statements and Notes 3

   1. Consolidated Statement of Financial Position 3

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income 5

   3. Consolidated Statement of Changes in Equity 7

   4. Consolidated Statement of Cash Flows 9

   5. Notes on Consolidated Financial Statements 11

（Notes on Going Concern Assumption） 11

（Segment Information） 11

- 1 -

1. Qualitative Information on the Financial Results

   1. Explanation of Business Results

      For the Six months ended September 30, 2025, revenue increased by ¥24.1 billion or 2.5%, year over year, to ¥972.2 billion due to an increase in production volume in regions such as Japan and North, Central, and South America, despite the impact of foreign exchange rates. Operating profit increased by ¥3.2 billion or 9.5%, year over year, to ¥37.0 billion. Profit before income taxes increased by ¥6.5 billion or 19.7%, year over year, to ¥39.4 billion. Profit attributable to the owners of the parent increased by ¥3.9 billion or 29.0%, year over year, to ¥17.4 billion. These are mainly due to an increase in production volume and cost reduction.

      Results by segment are as follows.

      1. Japan

         Revenue in Japan increased by ¥10.5 billion or 2.3%, year over year, to ¥463.6 billion due to an increase in production volume. Operating profit increased by ¥3.8 billion or 105.2%, year over year, to ¥7.6 billion due to an increase in production volume and new products despite an increase in overhead costs.

      2. North, Central and South America

         Revenue in North, Central and South America increased by ¥23.4 billion or 9.7%, year over year, to ¥264.2 billion due to an increase in production volume. Operating profit was ¥1.2 billion (¥0.3 billion Operating loss in the same period of the previous fiscal year) due to an increase in production volume and cost reduction, despite the impact of tariffs and quality-related costs.

      3. China

         Revenue in China decreased by ¥14.5 billion or 12.9%, year over year, to ¥98.0 billion due to the impact of foreign exchange rates. Operating profit decreased by ¥1.7 billion or 18.2%, year over year, to ¥8.0 billion due to the impact of foreign exchange rates and decrease in production volume.

      4. Asia

         Revenue in Asia increased by ¥4.1 billion or 3.0%, year over year, to ¥144.2 billion due to an increase in production volume. Operating profit increased by ¥0.4 billion or 2.3%, year over year, to ¥18.7 billion due to cost reduction and increase in production volume.

      5. Europe and Africa

         Revenue in Europe and Africa decreased by 1.8 billion or 3.3%, year over year, to ¥55.5 billion due to a decrease in production volume. Operating profit decreased by ¥0.6 billion or 29.9%, year over year, to ¥1.5 billion due to the effects of decreased production volume and market fluctuations despite cost reduction and the impact of foreign exchange rates.

   2. Explanation of Financial Position

      Total assets As of September 30, 2025, increased by ¥7.1 billion to ¥1,101.9 billion due to an increase in property, plant and equipment. The total for liabilities decreased by ¥6.2 billion to ¥598.5 billion year over year. The main factor was a decrease in trade and other payables. Equity increased by ¥13.3 billion to ¥503.4 billion mainly due to the recording of profit attributable to owners of the parent.

   3. Explanation of Consolidated Forecasts and Other Forward-Looking Information

      As for the forecast of financial results for the fiscal year ending March 31, 2026, reflecting the results of the second quarter, and customer sales trends from the third quarter onwards, the Company expects revenue to be ¥1,980.0 billion, operating profit of ¥75.0 billion, profit before income taxes to be ¥80.0 billion, profit attributable to owners of the parent to be ¥45.0 billion. These forecasts have been revised from those disclosed on July 31, 2025.

      The exchange rates assumption is 1USD= ¥145, 1EUR= ¥170, 1THB= ¥4.5, and 1CNY= ¥20.3.

      The above contains statements based on information currently available to the Company as of the time hereof and assumptions which it believes are reasonable. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, therefore do not represent any guarantees of future performance.

2. Consolidated Financial Statements and Notes
   1. Consolidated Statement of Financial Position

      (Millions of yen) As of March 31, 2025 As of September 30, 2025

      Assets

      Current assets

      Cash and cash equivalents	249,721	249,642
      Trade and other receivables	290,236	282,668
      Inventories	87,142	95,661
      Other financial assets	19,191	23,032
      Income taxes receivable	7,882	5,045
      Other current assets	14,457	15,005
      Total current assets	668,631	671,054
      Non-current assets Property, plant and equipment	317,221	320,679
      Goodwill	4,938	4,928
      Intangible assets	19,548	18,392
      Investments accounted for using the equity method	14,002	14,483
      Other financial assets	33,923	36,225
      Deferred tax assets	32,846	32,626
      Other non-current assets	3,719	3,569
      Total non-current assets	426,199	430,905
      Total assets	1,094,831	1,101,960

      (Millions of yen) As of March 31, 2025 As of September 30, 2025

      Liabilities and equity

      Liabilities

      Current liabilities

      Trade and other payables	234,869	208,099
      Bonds and borrowings	20,787	42,494
      Other financial liabilities	5,149	6,154
      Income taxes payable	14,836	14,234
      Provisions	7,155	12,292
      Other current liabilities	104,653	107,541
      Total current liabilities	387,452	390,816
      Non-current liabilities Bonds and borrowings	146,531	135,000
      Other financial liabilities	7,338	8,189
      Retirement benefit liability	55,075	55,359
      Provisions	713	714
      Deferred tax liabilities	5,000	5,667
      Other non-current liabilities	2,652	2,755
      Total non-current liabilities	217,311	207,687
      Total liabilities	604,763	598,503
      Equity Share capital	8,400	8,400
      Capital surplus	3,245	3,245
      Retained earnings	397,533	406,788
      Treasury shares	(21,211)	(21,169)
      Other components of equity	59,452	65,337
      Total equity attributable to owners of the parent	447,420	462,601
      Non-controlling interests	42,647	40,855
      Total equity	490,067	503,456
      Total liabilities and equity	1,094,831	1,101,960

   2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income Consolidated Statement of Income

      (Millions of yen)

      	Six months ended	Six months ended
      	September 30, 2024	September 30, 2025
      Revenue	948,165	972,279
      Cost of sales	849,927	870,161
      Gross profit	98,237	102,118
      Selling, general and administrative expenses	64,492	66,551
      Other income	2,813	3,147
      Other expenses	2,721	1,672
      Operating profit	33,837	37,041
      Finance income	3,877	3,990
      Finance expenses	5,001	2,683
      Share of profit of investments accounted for using the equity method	212	1,080
      Profit before income taxes	32,926	39,428
      Income tax expense	14,201	17,454
      Profit for the period	18,724	21,974
      Profit attributable to
      Owners of the parent	13,506	17,423
      Non-controlling interests	5,218	4,551

      Earnings per share attributable to owners of the parent

      Basic (Yen)	75.68	97.56
      Diluted (Yen)	75.66	97.53

      Consolidated Statement of Comprehensive Income

      (Millions of yen)

      Six months ended September 30, 2024

      Six months ended September 30, 2025

      Profit for the period 18,724 21,974

      Other comprehensive income

      406	(652)
      (2,080)	2,066
      (123)	19

      Items that will not be reclassified to profit or loss Remeasurements of defined benefit plans

      Net change in fair value of equity instruments measured at fair value through other comprehensive income

      Share of other comprehensive income of investments accounted for using the equity method

      Items that may be reclassified to profit or loss

      Exchange differences on translation of foreign operations (8,668) 4,880

      Net change in fair value of debt instruments measured at

      fair value through other comprehensive income 0 0

      Share of other comprehensive income of investments accounted for using the equity method Total other comprehensive income, net of tax	271 (10,193)	(10) 6,304
      Comprehensive income	8,531	28,279

      Comprehensive income attributable to

      Owners of the parent	3,348	22,827
      Non-controlling interests	5,183	5,451

   3. Consolidated Statement of Changes in Equity

Six months ended September 30, 2024

Six months ended September 30, 2025

(Millions of yen)

Increase (decrease) in cash and cash equivalents included in assets held for sale

870 －

Cash and cash equivalents at end of period 244,035 249,642

1. Notes on Consolidated Financial Statements

   (Notes on Going Concern Assumption)

   There are no applicable items.

   (Segment Information)

   1. Outline of Reportable Segments

      In the six-month period ended September 30, 2025, there are no material changes to the method used to identify the reportable segments, the business activities carried out by each reportable segment, or the measurement standards used to determine segment profits.

   2. Revenue, Profit/Loss for each Reportable Segment

      Six months ended September 30, 2024

      (Millions of yen)

      	Reportable Segment						Eliminations (*1)	Consolidated (*3)
      	Japan	North, Central and South America	China	Asia	Europe and Africa	Total
      Revenue
      Revenue from external customers	414,216	238,303	107,774	131,635	56,235	948,165	-	948,165
      Inter-segment revenue and transfers (*2)	38,853	2,524	4,834	8,381	1,180	55,774	(55,774)	-
      Total	453,070	240,827	112,608	140,016	57,415	1,003,939	(55,774)	948,165
      Operating profit (loss)	3,704	(338)	9,829	18,298	2,210	33,703	133	33,837
      Finance income								3,877
      Finance expenses								5,001
      Share of profit (loss) of investments accounted for using the equity method								212
      Profit before income taxes								32,926

      (Notes)1. 133 million yen included in "Eliminations" for "Operating profit" is mainly inter-segment transactions.

      1. Inter-segment revenue are based on transaction prices that are determined through price negotiation, taking into account market prices and total costs incurred.

      2. "Operating profit" reconciles to operating profit disclosed in the consolidated financial statement.

Six months ended September 30, 2025

(Millions of yen)

(Notes)1. (78) million yen included in "Eliminations" for "Operating profit" is mainly inter-segment transactions.

1. Inter-segment revenue are based on transaction prices that are determined through price negotiation, taking into account market prices and total costs incurred.

2. "Operating profit" reconciles to operating profit disclosed in the consolidated financial statement.