Topy Industries, LimitedTSE: 7231

Financial Results of the Third Quarter for FY2025

· Issued by Topy Industries, Limited
‌Financial Results of the Third Quarter for FY2025 (April 1, 2025 - December 31, 2025） February 6, 2026

Copyright©2025 Topy Industries, Limited All Rights Reserved. 0

This material is not a disclosure document under the Financial Instruments and Exchange Act and does not guarantee the accuracy or completeness of its information. The forward-looking statements in this material are based on information available at the time the material was prepared and include uncertainties. Investors are advised not to make investment decisions based solely on this information. In no event will the Company be liable for any loss or damage whatsoever resulting from the use of this material.

TYO 7231





‌Financial Results of the Third Quarter for FY2025

Operating profit

(compared to FY2024)

Net sales

(100 millions of yen)

FY2024 3Q

Results

FY2025 3Q

Results

YoY

Change

Increase/decrease (%)

Net sales

2,230

2,198

(32)

-1.4%

Operating profit

30

59

29

99.1%

Operating profit margin

1.3%

2.7%

1.4%

Ordinary profit

38

67

29

75.2％

Profit attributable to owners of parent

37

77

40

106.7％

Decrease in sales

Increase in income

Compared to same period of the past FY

Net sales

Operating profit

54

90

(100 millions of

2,563

2,230

1,970

59

2,198

2,488

30

(8)



yen)

(100 millions of yen)

Quarterly changes

38

21

18

24

16

24 23

27

15

16 17

6

(9()6)

(9)(6)

1

5



50 1,000

800

600

400

200

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

0

FY2021

3Q

FY2022

3Q

FY2023

3Q

FY2024

3Q

FY2025

3Q

FY2021 FY2022 FY2023 FY2024 FY2025



‌Results by segment

(100 millions of yen)

FY2024 3Q Results

FY2025 3Q Results

YoY

Change

Increase/decrease (%)

Net sales

Operating profit

Net sales

Operating profit

Net sales

Operating profit

Net sales

Operating profit

Steel Segment

769

46

666

19

(103)

(27)

-13.4%

-57.7%

Automotive and Industrial Machinery Components Segment

1,407

23

1,481

79

74

56

5.2%

251.8

Others

54

7

51

7

(3)

(0)

-6.0%

-6.2%

Head office

-

(45)

-

(46)

-

(1)

-

-

Total

2,230

30

2,198

59

(32)

29

-1.4%

99.1％

(compared to FY2024)



‌Factors for change in operating profit

(compared to FY2024)

Factors for increase in profit

4

59



73

(3) 1 (15)

Factors for decrease in profit

(100 millions of yen)

+3 (8)

30



FY2024 3Q

Operating profit

Quantity & Variety mix

(26)

Selling price Raw materials

Energy & Sub materials

Foreign exchange

Labor costs Others Cost improvement

FY2025 3Q

Operating profit



‌Overview of business results by segment

Quarterly changes

  1. Steel

    Compared to same period of the past FY

    Net sales

    Operating profit 77

    (100 millions of yen)

    (100 millions of yen)

    27

    31

    31

    20

    24

    22

    20 19

    18 18

    5

    9

    12

    2

    3

    4

    (5)

    (3)(3)



    400

    60

    830

    769

    661

    786

    46

    666

    19

    (3)



    200

    Apl.-Jun.

    Jul.-Sep.

    Oct.-Dec.

    Jan.-Mar.

    Apl.-Jun.

    Jul.-Sep.

    Oct.-Dec.

    Jan.-Mar.

    Apl.-Jun.

    Jul.-Sep.

    Oct.-Dec.

    Jan.-Mar.

    Apl.-Jun.

    Jul.-Sep.

    Oct.-Dec.

    Jan.-Mar.

    Apl.-Jun.

    Jul.-Sep.

    Oct.-Dec.

    0

    FY2021 3Q

    FY2022 3Q

    FY2023 3Q

    FY2024 3Q

    FY2025 3Q

    FY2021 FY2022 FY2023 FY2024 FY2025

    46

    (60)

(6)

Factors for increase in profit Factors for decrease in profit

Operating profit analysis

6

(100 millions of yen)

Business status

(Unit: 1,000 tons, ¥1,000/tons)

49

FY2024 3Q

FY2025 3Q

Change

Sales Volu

Shaped steel

525

503

(22)

Steel bars

128

122

(6)

Total

654

625

(35)

Selling price

111.2

101.8

(9.4)

Scrap payout unit price

47.1

42.0

(5.1)

Spreads

64.1

59.8

(4.3)

(0) (2)

19

3

me

(17)

FY2024 3Q

Operating profit

Quantity &

Variety mix

Selling

price

Raw

materials

Energy & Sub

materials

Foreign

exchange

Labor costs Others Cost

improvement

FY2025 3Q

Operating profit

*Including internal sales



‌Overview of business results by segment
  1. Automotive and industrial machinery components

Compared to same period of the past FY

Quarterly changes

24

27

22

18 18

26

10

10

5

6

11 14 9

13

9

6

10

(5)



(100 millions of yen)

Net sales

Operating profit

(100 millions of yen)

79

36 600

400

1,572

1,407

1,481

1,200

1,507

38

49

31

23



200

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

Jan.-Mar.

Apl.-Jun.

Jul.-Sep.

Oct.-Dec.

0

FY2021 3Q

FY2022 3Q

FY2023 3Q

FY2024 3Q

FY2025 3Q

FY2021 FY2022 FY2023 FY2024 FY2025

Operating profit analysis

Factors for increase in profit Factors for decrease in profit

43

(100 millions of yen)

0

16 (2) (3)

79

1 (0)

23

FY2024 3Q

Operating profit

1

Quantity & Variety mix

Effect of structural reforms and the establishment of sustainable pricing

Selling price& Raw materials

Energy & Sub materials

Foreign exchange

Labor costs Others Cost improvement

FY2025 3Q

Operating profit



‌Business environment

Domestic steel orders received (by application)

Domestic crude steel production volume

(thousand tons)

8,000

6,000

Manufacturing excluding automobiles Automobiles

Construction

(thousand tons)

20,000

Blast furnace Electric fuenace

4,000

2,000

10,000

Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun

Jul-Sep

Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun

Jul-Sep

0 0

2021 2022 2023 2024 2025

Source:The Japan Iron and Steel Federation

2021 2022 2023 2024 2025

Source:The Japan Iron and Steel Federation

Domestic production units

(1,000units)

2,000

Passenger vehicles

(1,000units)

400

Light vehicles

(1,000units)

Commercial vehicles

(1,000units)

Mini excavators

Hydraulic excavators

1,500

1,000

200

60

200

40

500 20

Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec

Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec

Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun

Jul-Sep

Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep

0 0 0 0

2023 2024 2025

Copyright©2025 Topy Industries, Limited All Rights Reserved.

2023 2024 2025

2023

2024 2025

Source: MARKLINES

2023 2024 2025

6

Source: Japan Construction Equipment

Manufacturers Association



‌Business environment

Ferrous scrap price

Electricity

(¥1,000/tons)

60

40

20

Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul.

Oct.

0

2021 2022 2023 2024 2025

Source:Source: Japan Metal Daily, The Japan ferrous raw materials association (H2, before maker furnace, average of 3 districts)

350

300

250

200

150

100

50

0

※Electricity Price Index for the Company's Toyohashi Plant

Calculated with January 2021 unit price set at 100

Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul.

Oct.

2021 2022 2023 2024 2025

Aluminum price

(Nikkei average)

(¥1,000/tons）

600

500

400

300

200

100

Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct. Jan. Apr. Jul. Oct.

0

2021 2022 2023 2024 2025

Copyright©2025 Topy Industries, Limited All Rights Reserved.

Source:Nikkal Shoko 7



‌Reference:

net sales composition by segment and business area

Others (2％)

Wheels for passenger vehicles (29％)

Steel

（30％）

FY2025 3Q

Net sales

Automotive and Industrial Machinery Components

219.8 billion

（68％）

Undercarriage parts for construction machinery

（16%）

Others

（12%）

Wheels for commercial vehicles and construction machinery

（11%）

Copyright©2025 Topy Industries, Limited All Rights Reserved. 8

Copyright©2025 Topy Industries, Limited All Rights Reserved.

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