Shizuoka Gas : Consolidated Financial Results for the Nine Months Ended September 30, 2025

Note: This document has been translated from a part of 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.

November 5, 2025

Company Name: SHIZUOKA GAS CO., LTD. Listing: Tokyo Stock Exchange

Code Number: 9543 URL: https://ir.shizuokagas.co.jp/en/ Representative: Matsumoto Yoshitake, Representative Director and President

Contact: Yamazaki Junya, Accounting and Finance Manager, Management Planning Dept. Telephone: +81-54-284-4141

Scheduled date to commence dividend payments: - Preparation of supplemental explanatory materials: Yes Holding of financial results briefing session: No

1. Consolidated financial results for the nine months ended September 30, 2025 (January 1 through September 30, 2025)

   (Amounts under one million yen are omitted; YoY % change)

   1. Operating Results

      	Net sales (¥ million)		Operating profit (¥ million)		Ordinary profit (¥ million)
      Nine months ended Sep. 30, 2025	151,198	(1.1)%	12,929	23.8%	12,982	8.0%
      Nine months ended Sep. 30, 2024	152,864	(9.2)	10,440	(46.7)	12,016	(43.3)

      Note: Total comprehensive income (¥ million)

      Nine months ended Sep. 30, 2025: 13,659 (37.5%) Nine months ended Sep. 30, 2024: 9,936 ((42.8)%)

      	Profit attributable to owners of parent (¥ million)	Profit per share (¥)	Diluted profit per share (¥)
      Nine months ended Sep. 30, 2025	9,229 14.8%	122.56	122.49
      Nine months ended Sep. 30, 2024	8,041 (46.0)	107.29	107.17

   2. Financial Position

      	Total assets (¥ million)	Net assets (¥ million)	Equity ratio (%)
      As of September. 30, 2025	182,231	135,075	70.0
      As of December. 31, 2024	170,202	125,519	69.4

      Note: Net assets excluding share acquisition rights and non-controlling interests (¥ million) As of September. 30, 2025: 127,565 As of December. 31, 2024: 118,113

2. Dividend Payment

   	Annual dividend per share (¥)
   	1Q	2Q	3Q	Term-end	Total
   FY 2024 FY 2025	- -	13.00 20.50	- -	27.00 /	40.00 /
   FY 2025(forecast)	/	/	/	21.50	42.00

   Note: Revision of previously announced dividend forecast: No

3. Consolidated Business Forecast for Current Term (January 1 through December 31, 2025)

   (Amounts under one million yen are omitted; YoY % change)

   	Net sales (¥ million)	Operating profit (¥ million)	Ordinary profit (¥ million)	Profit attributable to owners of parent (¥ million)	Profit per share (¥)
   Full term	200,660 (0.8)%	12,830 24.5%	12,490 (4.5)%	8,920 1.6 %	118.44

   Note: Revision of previously announced consolidated business forecast: Yes

   ※Notes

   1. Significant changes in the scope of consolidation during the period: No

   2. Simplified accounting and special accounting methods for quarterly financial reporting: Yes (Please refer to the section "(3) Notes Application of Special Accounting Methods in Preparation of Quarterly Consolidated Financial Statements" on P7)

   3. Changes in accounting policies, estimates, or retrospective restatements

      1. Changes in accounting policies due to revisions of accounting standards: Yes

      2. Other: No

      3. Changes in accounting estimates: No

      4. Retrospective restatements: No

   4. Number of issued shares (ordinary shares)

      1. Number of shares issued at end of period (including treasury shares) As of September. 30, 2025: 76,192,950

         As of December. 31, 2024: 76,192,950

      2. Number of treasury shares at end of period

         As of September. 30, 2025: 865,351

         As of December. 31, 2024: 933,876

      3. Average number of shares outstanding during the term

Nine months ended September. 30, 2025: 75,302,722

Nine months ended September. 30, 2024: 74,946,816

Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: No

The business forecast and other forward-looking statements contained in this document are assumptions based on information available to the Company and judgments deemed rational at the time this document was published. Forward-looking statements are not a guarantee that the forecast will be achieved. Actual earnings may differ significantly from the business forecast due to various factors.

1. Consolidated Balance Sheets

   (Millions of yen)

   As of December 31, 2024 As of September 30, 2025

   Assets

   Non-current assets

   Property, plant and equipment
   Production facilities	4,971	4,871
   Distribution facilities	33,159	31,569
   Service and maintenance facilities	5,293	5,226
   Other facilities	14,067	14,743
   Construction in progress	589	3,139
   Total property, plant and equipment	58,080	59,550
   Intangible assets
   Mining rights	-	18,487
   Other intangible assets	4,058	4,992
   Total intangible assets	4,058	23,480
   Investments and other assets
   Investment securities	21,513	26,661
   Long-term loans receivable	2,016	1,422
   Deferred tax assets	630	656
   Other investments	6,446	7,397
   Allowance for doubtful accounts	(77)	(78)
   Total investments and other assets	30,529	36,059
   Total non-current assets	92,669	119,090

   Notes and accounts receivable - trade, and contract assets	20,470	20,542
   Merchandise and finished goods	1,134	2,041
   Raw materials and supplies	14,017	9,554
   Accounts receivable - other	3,473	1,262
   Other current assets	2,224	2,572
   Allowance for doubtful accounts	(39)	(44)
   Total current assets	77,533	63,141
   Total assets	170,202	182,231

   Current assets

   Cash and deposits 36,251 27,213

(Millions of yen) As of December 31, 2024 As of September 30, 2025

1. Consolidated Statements of Income and Comprehensive Income

For the nine months ended September 30, 2024

(Millions of yen)

For the nine months ended September 30, 2025