Financial Results (Third Quarter of FY2025)

Member of the Financial Accounting Standards Foundation

November 7, 2025

Company name: Toyo Tanso Co., Ltd.

Listing: Tokyo Stock Exchange

Securities code: 5310

URL: https://www.toyotanso.co.jp

Representative: Naotaka Kondo

Representative Director, Chairman & President, CEO

Inquiries: Masaki Kuno, General Manager, Finance and Accounting Department

Telephone: 81-50-3097-4950 (from overseas) Scheduled date to commence dividend payments: -Preparation of supplementary materials on financial results: Yes Holding of financial results briefing: None

1. Consolidated financial results for the nine months ended September 30, 2025

   (From January 1, 2025 to September 30, 2025)

   1. Consolidated operating results (cumulative) (Millions of yen, rounded down)

      (Percentages indicate changes from the same period in the previous fiscal year.)

      Net sales Operating profit Ordinary profit Profit attributable to

      owners of parent

      % % % %

      Nine months ended

      34,095 (12.7) 5,420 (41.5) 6,014 (38.2) 4,531 (37.0)

      September 30, 2025

      Nine months ended September 30, 2024

      Note: Comprehensive income:

      39,062 8.5 9,266 38.5 9,737 26.4 7,189 23.7

      Nine months ended September 30, 2025 3,890 million yen (-49.0%)

      Nine months ended September 30, 2024 7,633 million yen (-0.1%)

      Nine months ended September 30, 2025 Nine months ended September 30, 2024

      Basic earnings per share Diluted earnings per share

      yen yen

      216.06 -

      342.80 -

   2. Consolidated financial position

      (Millions of yen, rounded down)

      Total assets Net assets Equity ratio

      %

      As of September 30, 2025 112,205 95,051 84.7

      As of December 31, 2024 113,190 94,205 83.2

      Reference: Equity

      September 30, 2025 94,994 million yen

      December 31, 2024 94,147 million yen

2. Cash dividends

   Year ended December 31, 2024

   Dividends per share (yen)

   First quarter-end Second quarter-end Third quarter-end Year-end Total (Full year)

   - 0.00 - 145.00 145.00

   Year ending December 31, - 0.00 -2025 (Actual)
   Year ending December 31, 2025 (Forecast)		145.00 145.00

   Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated results forecast for the fiscal year ending December 31, 2025

(From January 1, 2025 to December 31, 2025)

(Millions of yen, rounded down) (Percentages indicate year-on-year changes.)

Net sales Operating profit Ordinary profit

Profit attributable to owners of parent

Profit attributable to owners of parent

per share

Fiscal year ending December 31, 2025

(Note) Revisions to the results forecasts of consolidated forecasts most recently announced: None

• Others
  1. Significant changes in the scope of consolidation during the period: Yes Newly included: 1 company (Shanghai Toyo Tanso Trading Co., Ltd.)

     Excluded: _ company(ies)

  2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes

     (Note) For details, please refer to "Notes on adoption of specific accounting methods for the preparation of quarterly consolidated financial statements" on page 8 of the Attached Documents.

  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: Yes

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

     3. Changes in accounting estimates: None

     4. Restatement: None

        (Note) For details, please refer to "Notes on changes in accounting policies" on page 8 of the Attached Documents.

  4. Number of issued shares (common shares)

     1. Total number of issued shares at the end of the period (including treasury shares) As of September 30, 2025 20,992,588 shares

        As of December 31, 2024 20,992,588 shares

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

        As of September 30, 2025 20,372 shares

        As of December 31, 2024 20,277 shares

     3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

        Nine months ended September 30, 2025 20,972,269 shares

        Nine months ended September 30, 2024 20,972,386 shares

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None
• Proper use of earnings forecasts, and other special matters

(We urge you to be cautious in relying on forward-looking statements.)

Forward-looking statements such as the earnings forecasts in this material are based on currently available information and certain assumptions deemed rational, and are not intended as a guarantee that these forecasts will be achieved. Accordingly, actual results may differ significantly from these forecasts due to various factors. For more information on the preconditions of the forecasts and on precautionary notes concerning the usage of these forecasts, please refer to "Explanation of information regarding consolidated earnings forecasts and other projections" on page 3 of the Attached Documents.

• Attached Documents

1. Overview of the Business Results 2

   1. Overview of the quarterly business results 2

   2. Overview of the quarterly financial position 2

   3. Explanation of information regarding consolidated earnings forecasts and other projections 3
2. Quarterly Consolidated Financial Statements and Important Notes 4
   1. Quarterly consolidated balance sheets 4
   2. Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income 6 (Quarterly consolidated statements of income) 6 (Quarterly consolidated statement of comprehensive income) 7
   3. Notes on quarterly consolidated financial statements 8 (Notes on changes in accounting policies) 8 (Notes on adoption of specific accounting methods for the preparation of quarterly consolidated financial statements) 8 (Notes on segment information, etc.) 9 (Notes if the amount of shareholders' equity has changed significantly) 11 (Notes regarding the premise of a going concern) 11 (Notes to the statement of quarterly cash flows) 11
3. Supplementary Information 12
   1. Orders and sales by product category 12
   2. Overview 13

1

1. ‌Overview of the quarterly business results

   During the first three quarters of the consolidated fiscal year under review, the recovery in global business conditions moderated, with little indication of progress in some regions and a persistently uncertain outlook due to the impact of factors such as the United States' trade policy.

   Looking at the business environment surrounding the Group, in electronics applications, while demand was strong for some applications such as state-of-the-art products for generative AI, the overall market correction for semiconductors continued, and demand for silicon semiconductor and SiC semiconductor applications was low. While firmness was evident in automotive industry operations and corporate capital investment, there was a sense of stagnation due to global economic uncertainty, and demand in mobility applications and general industries was only moderate.

   In this environment, the Group worked to ensure that it captured demand by responding to changes in the external environment, while also controlling its balance of products and applications. In addition, the Group strived to provide high-value-added solutions integrating manufacturing, sales, and development to address increasingly sophisticated customer needs and achieve the management targets of the Medium-term Management Plan. This included strengthening and developing high-value-added products that can keep pace with technological innovations and improving cost competitiveness through increased productivity.

   As a result, in the first three quarters of the consolidated fiscal year under review, net sales were 34,095 million yen (down 12.7% year on year). In terms of profits, operating profit was 5,420 million yen (down 41.5% year on year), ordinary profit was 6,014 million yen (down 38.2% year on year), and profit attributable to owners of parent was 4,531 million yen (down 37.0% year on year).

   The overall performance of each business segment was as follows. (Please refer to "3. Supplementary Information" for an overview of each product category.)

   Japan

   Sales of products for metallurgical applications, mainly for industrial furnaces, as well as bearings and other carbon products for mechanical applications, were firm, but sales of semiconductor applications decreased substantially amid a market correction. As a result, in Japan, net sales were 17,756 million yen (down 16.5% year on year) and operating profit was 3,566 million yen (down 56.7% year on year).

   United States

   Sales of products for semiconductor applications were solid, but sales of products for metallurgical applications including those for continuous casting and industrial furnaces declined. As a result, in the United States, net sales were 3,184 million yen (down 18.4% year on year) and operating profit was 69 million yen (down 87.4% year on year).

   Europe

   Sales of mainstay metallurgical applications declined. As a result, in Europe, net sales were 3,730 million yen (down 8.5% year on year), and operating profit was 75 million yen (up 185.9% year on year).

   Asia

   Sales of metallurgical application products mainly for industrial furnaces and semiconductor application products were solid, but sales of carbon brush products declined. As a result, in Asia, net sales were 9,423 million yen (down 4.1% year on year) and operating profit was 381 million yen (down 38.3% year on year).

2. ‌Overview of the quarterly financial position

As of September 30, 2025, total assets decreased by 985 million yen from the end of the previous consolidated fiscal year.

This was primarily because, although inventories increased by 3,230 million yen, other current assets increased by 582 million yen due to factors including an increase in income taxes refund receivable, and property, plant and equipment increased by 3,583 million yen, there was a 3,024 million yen decrease in cash and deposits, a 2,946 million yen decrease in notes and accounts receivable - trade, and a 2,499 million yen decrease in securities.

Total liabilities decreased by 1,832 million yen from the end of the previous consolidated fiscal year.

2