Consolidated Financial Results for the Year Ended March 31, 2025

Consolidated Financial Results for the Year Ended March 31, 2025

[Japanese GAAP]

May 15, 2025

Company name: Toho Zinc Co.,Ltd. Listing: Tokyo Stock Exchange Securities code: 5707

URL: https://www.toho-zinc.co.jp/

Representative: ITO Masahito , President and Representative Director Inquiries: FUJIHARA Keigo , General Manager, Accounting Department Telephone: +81-3-4334-7313

Scheduled date of annual general meeting of shareholders: June 27, 2025 Scheduled date to commence dividend payments: -

Scheduled date to file annual securities report: June 27, 2025 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes

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

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)

   (1) Consolidated Operating Results (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
   Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 126,267 130,803	% (3.5) (10.3)	Millions of yen 5,625 (690)	% - -	Millions of yen 3,689 (10,727)	% - -	Millions of yen (1,458) (46,452)	% - -

   (Note) Comprehensive income:	Fiscal year ended March 31, 2025:	¥	(127) million	[	-%]
   	Fiscal year ended March 31, 2024:	¥	(46,790) million	[	-%]

   	Basic earnings per share	Diluted earnings per share	Rate of return on equity	Ordinary profit to total assets ratio	Operating profit to net sales ratio
   Fiscal year ended	Yen	Yen	%	%	%
   March 31, 2025	(101.20)	-	(22.8)	3.6	4.5
   March 31, 2024	(3,421.32)	-	(174.6)	(8.5)	(0.5)

   (Reference) Equity in earnings (losses) of affiliated companies:	Fiscal year ended March 31, 2025:	¥	- million
   (2) Consolidated Financial Position	Fiscal year ended March 31, 2024:	¥	(9,724) million

   	Total assets	Net assets	Capital adequacy ratio	Net assets per share
   As of March 31, 2025 March 31, 2024	Millions of yen 99,299 108,436	Millions of yen 10,082 2,705	% 10.2 2.5	Yen 521.60 199.29

   (Reference) Equity: As of March 31, 2025:	¥	10,082 million
   As of March 31, 2024:	¥	2,705 million

   (3) Consolidated Cash Flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at the end of period
   Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 2,896 3,749	Millions of yen (370) (7,612)	Millions of yen 5,028 7,694	Millions of yen 20,979 13,409

2. Dividends

   	Annual dividends					Total dividends	Payout ratio (consolidated)	Dividends to net assets (consolidated)
   	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
   Fiscal year ended March 31, 2024 March 31, 2025	Yen - -	Yen 0.00 0.00	Yen - -	Yen 0.00 0.00	Yen 0.00 0.00	Millions of yen - -	% - -	% - -
   Fiscal year ending March 31, 2026 (Forecast)	-	0.00	-	0.00	0.00		-

   (Note) 1. Breakdown of the year-end dividend for the fiscal year ended March 31, 2025 : Commemorative dividend - yen

   Special dividend - yen

   (Note) 2. "Dividends" above refers to dividends for common shares. With regard to dividends for class shares (unlisted) issued by the Company with different rights from those of common shares, refer to "Dividends for class shares" below.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)

(Percentages indicate year-on-year changes.)

* Notes:

1. Significant changes in the scope of consolidation during the period: Yes

   Newly included: - (Company name: )

   )

   Excluded: 3 (Company name: Cobar Operations Pty Ltd., Endeavor Operations Pty Ltd.,

   Broken Hill Operations Pty Ltd.

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

   1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes

   2. Changes in accounting policies due to other reasons: None

   3. Changes in accounting estimates: None

   4. Restatement: None

3. Number of issued shares (common shares)

   1. Total number of issued shares at the end of the period (including treasury shares): March 31, 2025: 13,585,521 shares

      March 31, 2024: 13,585,521 shares

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

      March 31, 2025: 7,764 shares

      March 31, 2024: 7,750 shares

   3. Average number of shares outstanding during the period:

Fiscal Year ended March 31, 2025: 14,408,425 shares

Fiscal Year ended March 31, 2024: 13,577,488 shares

(Note) Since the Class A Preferred Shares issued by the Company on March 13, 2025 are convertible participating shares, the number of Class A Preferred Shares calculated using the if-converted method is included in the average number of shares outstanding during the period.

(Reference) Overview of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (April 1, 2024 to March 31, 2025)

1. Non-consolidated Operating Results (Percentages indicate year-on-year changes.)

   	Net sales		Operating profit		Ordinary profit		Net income
   Fiscal year ended March 31, 2025 March 31, 2024	Millions of yen 119,534 123,893	% (3.5) (10.6)	Millions of yen 3,306 1,558	% 112.2 (59.6)	Millions of yen 2,187 1,263	% 73.1 (63.1)	Millions of yen (3,466) (45,276)	% - -

   	Basic earnings per share	Diluted earnings per share
   Fiscal year ended	Yen	Yen
   March 31, 2025	(240.57)	-
   March 31, 2024	(3,334.65)	-

2. Non-consolidated Financial Position

• Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.

• Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)

The forward-looking statements, including financial results forecast, contained in this report are based on information currently available to the Company and on certain assumptions deemed to be reasonable and they are not meant to be a commitment by the Company. Also, actual results may differ substantially due to a variety of factors.

(Method for obtaining supplementary explanation materials on financial results)

The supplementary explanation materials on financial results is disclosed on the TDnet and the Company's website on May, 15, 2025.

Dividends for class shares

The breakdown of dividend per share for class shares with different rights from those of common shares is as follows.

(Note) The Class A Preferred Shares and Class B Subordinated Shares were issued on March 13, 2025.

Table of Contents - Attachments

1. Overview of Operating Results, etc. 2

   1. Overview of Operating Results for the Fiscal Year under Review 2

   2. Overview of Financial Position for the Fiscal Year under Review 6

   3. Overview of Cash Flows for the Fiscal Year under Review 6

   4. Future Outlook 7

   5. Significant Events Regarding Going Concern Assumption 8

2. Basic Policy on Selection of Accounting Standards 9

3. Consolidated Financial Statements and Principal Notes 10

   1. Consolidated Balance Sheet 10

   2. Consolidated Statements of Income and Comprehensive Income 12

      Consolidated Statement of Income 12

      Consolidated Statement of Comprehensive Income 14

   3. Consolidated Statement of Changes in Equity 15

   4. Consolidated Statement of Cash Flows 17

   5. Notes to Consolidated Financial Statements 19

(Notes on going concern assumption) 19

(Notes concerning changes in the scope of consolidation or scope of equity method to be applied)

. 19

(Notes concerning changes in accounting policies) 19

(Notes on segment information, etc.) 20

(Notes on per share information) 23

(Notes on significant subsequent events) 24

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