Torishima Pump Mfg : Consolidated Financial Results for the 1st quarter of FY2025

RESULTS OF OPERATIONS FOR

THE FIRST QUARTER ENDED JUNE 30, 2025 (CONSOLIDATED)

(Japanese GAAP)

Listed company name: Torishima Pump Mfg. Co., Ltd. Stock exchange listings: Tokyo

August 7, 2025

Code number: 6363 URL: https://http://www.torishima.co.jp Representative: Kotaro Harada, CEO

Contact person: Ko Kaneko, Deputy General Manager of Administration Division Phone: +81-72-695-0551

Scheduled date of filing quarterly financial statements: August 7, 2025 Scheduled date of starting dividend payment: -

Preparing supplementary material on quarterly financial results: Yes Holding quarterly financial results presentation meeting: No

Note: The amounts are rounded down to the nearest million.

1. Consolidated financial results of the first quarter ended June 30, 2025 (April 1, 2025 through June 30, 2025)

   1. Operating results (Millions of yen)

      	Net sales		Operating income		Ordinary income		Net income attributable to owners of parent
      		%		%		%		%
      First quarter ended June 30, 2025	19,876	13.5	209	△69.1	△270	-	△320	-
      First quarter ended June 30, 2024	17,518	1.1	678	△44.0	784	△21.3	1,272	50.3

      Note: Comprehensive income: (First quarter ended June 30, 2025) △ ¥ 42million (- %)

      (First quarter ended June 30, 2024) ¥ 1,273million (△29.1%)

      	Net income per share	Net income per share-Diluted
      	Yen	Yen
      First quarter ended June 30, 2025	△12.03	-
      First quarter ended June 30, 2024	47.90	47.77

   2. Financial position (Millions of yen)

      	Total assets	Net assets	Equity Ratio
      			%
      June 30, 2025	108,938	55,448	50.5
      March 31, 2025	115,621	56,417	48.4

      (Reference): Shareholders' equity: (June 30, 2025) ¥ 54,986 million (March 31, 2025) ¥ 55,954 million

2. Dividends

   	Dividends per share
   	End of 1Q	End of 2Q	End of 3Q	Fiscal year end	Annual
   	Yen	Yen	Yen	Yen	Yen
   FY2024	-	30.00	-	30.00	60.00
   FY2025	-
   FY2025 (Forecast)		31.00	-	31.00	62.00

   Note1: Revision of forecast for dividend during this quarter: No

3. Forecast for fiscal year ending March 31, 2026 (Millions of yen)

   	Net sales	Operating income	Ordinary income	Net income attributable to owners of parent	Net income per share
   	%	%	%	%	Yen
   Annual	89,000 2.9	6,700 23.0	5,800 27.8	4,300 5.7	161.42

   Note1: % represents percentage change from a comparable previous period Note2: Revision of forecast during this quarter: No

   Note3: Explanations for adequate utilization of the forecast, and other note

   Forecast shown above is prepared based on information available as of the issuing date of this report and assumptions that we consider as reasonable, and therefore the actual results may differ from these forecasted figures due to various unknown factors.

   As the Company manages its business on an annual basis, consolidated earnings forecasts for the second quarter (cumulative) are not disclosed.

   Notes

   1. Significant changes in the scope of consolidation during the period：None Newly included: －, Excluded: －

   2. Application of specific accounting treatment for the preparation of quarterly consolidated financial statements: Yes

      Note: For details, please refer to page 9 of the attached materials, "2. Consolidated quarterly financial statement and Major Notes, Notes on Quarterly Consolidated Financial Statements- Notes on Accounting Treatment Specific to Preparation of Quarterly Consolidated Financial Statements."

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

      1. Changes in accounting policies due to revisions to accounting standards and other regulations：None

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

      3. Changes in accounting estimates ：None

      4. Restatement ：None

         1Q FY2024 26,561,697shares

26,636,270shares

1Q FY2025

2,412,759shares

End of FY2024

2,407,359shares

1Q FY2025

29,045,679shares

End of FY2024

29,045,679shares

1Q FY2025

① Number of issued and outstanding shares at the end of fiscal year (including treasury stock)

② Number of treasury stock at the end

of fiscal year

③Average number of shares outstanding (cumulative quarterly)

Note: The number of treasury stock at the end of the period includes treasury stock held by the Employee Stock Ownership Plan (ESOP) trust. The number of treasury stock held by the ESOP trust is (- shares) for FY2025 Q1 (149,200 shares) for FY2024.

*Review of the attached quarterly consolidated financial statements by certified public accountants or audit firms: None

* Explanations for adequate utilization of the forecast, and other note

Forecast shown above is prepared based on information available as of the issuing date of this report and assumptions that we consider as reasonable, and therefore the actual results may differ from these forecasted figures due to various unknown factors.

Table of Contents of Attached Materials

1. Overview of Operating Results and Financial Position .- 2 -

   1. Overview of Operating Results for the Current Quarter.................................................................................- 2 -

   2. Overview of Financial Position for the Current Quarter................................................................................- 2 -

   3. Explanation Regarding Consolidated Business Forecasts and Other Forward-Looking Information ...............- 3 -

2. Consolidated quarterly financial statement.....................................................................................................- 4 -

   1. Consolidated quarterly balance sheet ...........................................................................................................- 4 -

   2. Consolidated quarterly statement of (comprehensive) income......................................................................- 6 -

      Consolidated quarterly statement of income (April 1 - June 30, 2025) ...............................................................- 6 -

      Consolidated quarterly statement of comprehensive income (April 1 - June 30, 2025) ......................................- 7 -

   3. Notes on Quarterly Consolidated Financial Statements ..................................................................................- 8 -

   (Notes going Concern Assumption) ...................................................................................................................- 8 -

   (Notes regarding significant changes in shareholders' equity) ............................................................................- 8 -

   (Notes on Quarterly Consolidated Balance Sheet) ..............................................................................................- 8 -

   (Notes on Quarterly Consolidated Statement of Income) ....................................................................................- 8 -

   (Notes on Quarterly Consolidated Statement of Cash Flows)...............................................................................- 8 -

   (Notes on Segment Information, etc.) ................................................................................................................- 9 -

   (Notes on Accounting Treatment Specific to Preparation of Quarterly Consolidated Financial Statements) .........- 9 -

3. Orders received and sales by demand category ...............................................................................................- 9 -

1. Overview of Operating Results and Financial Position

   1. Overview of Operating Results for the Current Quarter

      During the first quarter of the consolidated fiscal year, uncertainties have further intensified due to the prolonged geopolitical risks and policy shifts in major countries. In the United States, a review of trade policy has again come into focus, with the implementation of additional tariffs impacting international supply chains, increasing trade policy uncertainty, and raising concerns about a downturn in exports. In China, adjustments in the real estate market and a delayed recovery in domestic demand are weighing on growth, while in Europe, although inflation is showing signs of calming, economic recovery remains slow. In the foreign exchange market, the unstable situation continues due to U.S. government policies amidst interest rate differentials among Japan, the U.S., and Europe, affecting corporate revenue structures and procurement costs. In this environment, companies are required to respond more flexibly and agilely.

      In the pump industry, the underlying demand for pumps is expected to remain firm in the future, driven by infrastructure development, primarily for water resources to cope with global population growth, the renewal of aging facilities, and disaster prevention and mitigation measures in response to extreme weather conditions. However, there is a possibility that the order environment may deteriorate due to the impact of economic conditions.

      Under these circumstances, our group, as an essential infrastructure company, is promoting research and development and industry-academia collaborations for pump technologies handling hydrogen and ammonia that contribute to a carbon-neutral society, in order to meet societal demands.

      Thus, we are striving to develop new pumps required by society, as well as to improve facilities and mechanisms for pump manufacturing, aiming to enhance productivity and production capacity.

      The total orders received for our group during the first quarter of the consolidated fiscal year amounted to 21,841 million yen (a decrease of 2,316 million yen compared to the same quarter of the previous year). Breaking this down by demand source, public demand was 5,062 million yen (a decrease of 377 million yen compared to the same quarter of the previous year), private demand was 2,788 million yen (an increase of 120 million yen compared to the same quarter of the previous year), and overseas demand was 13,990 million yen (a decrease of 2,059 million yen compared to the same quarter of the previous year).

      Net sales for the first quarter of the consolidated fiscal year were 19,876 million yen (an increase of 2,357 million yen compared to the same quarter of the previous year).

      Regarding profit and loss, operating income for the first quarter of the consolidated fiscal year was 209 million yen (a decrease of 468 million yen compared to the same quarter of the previous year). Ordinary loss amounted to 270 million yen (compared to a profit of 784 million yen in the same quarter of the previous year), resulting from an exchange loss of 672 million yen recorded as non-operating expenses. Net loss attributable to owners of parent was 320 million yen (compared to a profit of 1,272 million yen in the same quarter of the previous year), partly due to the absence of extraordinary income.

   2. Overview of Financial Position for the Current Quarter

      As of the end of the first quarter of the consolidated fiscal year, total assets decreased by 6,683 million yen from the end of the previous consolidated fiscal year, amounting to 108,938 million yen. This was mainly due to a decrease in notes and accounts receivable and contract assets (a decrease of 8,060 million yen compared to the end of the previous consolidated fiscal year), despite an increase in work-in-progress (an increase of 1,670 million yen compared to the end of the previous consolidated fiscal year) and an increase in investment securities (an increase

      of 792 million yen compared to the end of the previous consolidated fiscal year).

      Liabilities decreased by 5,714 million yen from the end of the previous consolidated fiscal year, amounting to 53,489 million yen. This was mainly due to a decrease in notes and accounts payable (a decrease of 2,591 million yen compared to the end of the previous consolidated fiscal year) and a decrease in short-term borrowings (a decrease of 4,136 million yen compared to the end of the previous consolidated fiscal year), despite an increase in contract liabilities (an increase of 1,277 million yen compared to the end of the previous consolidated fiscal year).

      Net assets decreased by 968 million yen from the end of the previous consolidated fiscal year, amounting to 55,448 million yen.

   3. Explanation Regarding Consolidated Business Forecasts and Other Forward-Looking Information

   There are no changes to the consolidated business forecasts for the fiscal year ending March 2026, which were announced on May 14, 2025.

2. Consolidated quarterly financial statement

   1. Consolidated quarterly balance sheet

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

      Assets

      Cash and deposits 17,115 17,603

Current assets

Liabilities

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

1. Consolidated quarterly statement of (comprehensive) income

   Consolidated quarterly statement of income (April 1 - June 30, 2025)

   Three months ended June 30, 2024

   (Millions of yen)

   Three months ended June 30, 2025

   Net sales 17,518 19,876

   Cost of sales 12,650 15,164

   Gross profit 4,868 4,711

   Selling, general and administrative expenses

   4,190 4,501

   Operating profit 678 209

   Non-operating income

   Dividend income 167 153

   Share of profit of entities accounted for using equity method

   18

   13

   Rental income 29 28

   Other 95 75

   Total non-operating income 311 271

   Non-operating expenses

   Interest expenses 38 59

   Foreign exchange losses 114 672

   Other 52 18

   Total non-operating expenses 205 751

   Ordinary profit (loss) 784 △270 Extraordinary income

   Gain on sale of investment securities 1,020 －

   Total extraordinary income 1,020 －

   Profit (loss) before income taxes 1,804 △270

   Income taxes 524 39

   Profit (loss) 1,280 △309

   Profit attributable to non-controlling interests

   8 11

   Profit (loss) attributable to owners of parent 1,272 △320

   Consolidated quarterly statement of comprehensive income (April 1 - June 30, 2025)

   Three months ended June 30, 2024

   (Millions of yen)

   Three months ended June 30, 2025

   Profit (loss)	1,280	△309
   Other comprehensive income
   Valuation difference on available-for-sale securities	△169	483
   Deferred gains or losses on hedges	△803	425
   Foreign currency translation adjustment	986	△620
   Remeasurements of defined benefit plans, net of tax	△21	△23
   Share of other comprehensive income of entities 0 1 accounted for using equity method
   Total other comprehensive income △7 267
   Comprehensive income	1,273	△42
   Comprehensive income attributable to
   Comprehensive income attributable to owners of parent	1,249	△41

   Comprehensive income attributable to non-controlling interests

   23 △0

2. Notes on Quarterly Consolidated Financial Statements

(Notes going Concern Assumption) No significant matters to report.

(Notes regarding significant changes in shareholders' equity)

Based on the resolution of the Board of Directors on May 14, 2025, the Company acquired 143,800 shares of treasury stock during the period from May 14 to June 30, 2025.

As a result, treasury stock increased by 128 million yen in the first quarter, bringing the balance to 1,931 million yen as of the end of the first quarter of FY2026.

(Notes on Quarterly Consolidated Balance Sheet) Financial Covenants

As of March 31, 2025 (prior fiscal year-end) and June 30, 2025 (end of current Q1), the Company's loans payable include syndicated and term loan agreements totaling 2,500 million yen, which are subject to financial covenants.

If the Company breaches the following covenants, it may lose the benefit of time and be required to repay the principal and interest upon the lender's request:

1. Maintain at least 75% of the higher of (i) net assets at the end of the previous fiscal year or (ii) net assets at the end of the fiscal year immediately preceding the fiscal year in which the loan agreement was signed.

2. Not to record ordinary loss in two consecutive fiscal years.

(Notes on Quarterly Consolidated Statement of Income)

For the three months ended June 30, 2024 and June 30, 2025:

Since the Group mainly manufactures products and performs construction work with deliveries concentrated at the fiscal year-end, net sales and operating expenses in the first, second, and third quarters tend to be lower than those in the fourth quarter.

(Notes on Quarterly Consolidated Statement of Cash Flows)

The quarterly consolidated statement of cash flows for the first quarter is not prepared.

Depreciation expenses (including amortization of intangible fixed assets) for the first quarter are as follows.

(Millions of yen)

(Notes on Segment Information, etc.) Segment Information

1. Previous first quarter cumulative period (April 1, 2024 to June 30, 2024)

   Our group has omitted disclosure of segment information because the "Pump Business" accounts for more than 90% of both total net sales and total operating income for all segments.

2. Current first quarter cumulative period (April 1, 2025 to June 30, 2025)

Our group has omitted disclosure of segment information because the "Pump Business" accounts for more than 90% of both total net sales and total operating income for all segments.

(Notes on Accounting Treatment Specific to Preparation of Quarterly Consolidated Financial Statements)

Income tax expenses are calculated by applying a reasonably estimated effective tax rate after tax effect accounting for the consolidated fiscal year including the current first quarter to the quarterly pre-tax net income.

However, if the estimated effective tax rate cannot be used, the statutory effective tax rate is applied.

1. Orders received and sales by demand category

Orders received (Millions of yen)

Net Sales (Millions of yen)

Orders backlog (Millions of yen)