February 6, 2026
Company: Tsubakimoto Chain Co.
Representative: Takatoshi Kimura, President and Representative Director (Code No.: 6371, Prime Market of the TSE)
Inquiries: Takeshi Tamura, Manager, Corporate Planning Department TEL +81 (6) 6441-0054
Disclosure of Financial Results Concerning Delisted Subsidiary (Daido Kogyo Co., Ltd.)
We hereby announce the Third Quarter Financial Results for the Fiscal Year Ending March 2026 (April 1, 2025 to December 31, 2025) for Daido Kogyo Co., Ltd., which became a wholly-owned subsidiary as of January 1, 2026, as detailed in the attached document.
Note: This document has been translated from 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.
February 6, 2026
Company name: DAIDO KOGYO CO., LTD.
URL: https://www.did-daido.co.jp/
Representative: Hirofumi Araya, President and CEO, Representative Director
Inquiries: Kenshin Noguchi, Senior Executive Officer, Head of Corporate Strategy Division
Telephone: +81-761-72-1234
Scheduled date to commence dividend payments: －
(Yen amounts are rounded down to millions, unless otherwise noted.)
Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025 to December 31, 2025)
Consolidated Operating Results (Percentages indicate year-on-year changes.)
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Nine months ended
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
December 31, 2025
44,271
2.9
1,358
28.9
1,655
35.3
1,714
130.7
December 31, 2024
43,035
2.4
1,054
-
1,223
41.4
743
24.3
(Note) Comprehensive income:
Nine months ended December 31, 2025:
2,197 Millions of yen
[
- %]
Nine months ended December 31, 2024:
92 Millions of yen
[
(97.4) %]
Basic earnings per share
Diluted earnings per share
Nine months ended
Yen
Yen
December 31, 2025
169.02
-
December 31, 2024
72.53
-
Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
As of
Millions of yen
Millions of yen
%
Yen
December 31, 2025
80,951
38,649
40.6
3,239.62
March 31, 2025
77,803
36,787
39.5
3,030.34
(Reference) Equity:
As of December 31, 2025:
32,868 Millions of yen
2. Dividends
As of March 31, 2025:
30,723 Millions of yen
Annual dividend
1st quarter-end
2nd quarter-end
3rd quarter-end
Year end
Total
Yen
Yen
Yen
Yen
Yen
Fiscal year ended March 31, 2025
-
0.00
-
25.00
25.00
Fiscal year ending March 31, 2026
-
0.00
-
Fiscal year ending March 31, 2026 (Forecast)
-
-
(Note) On May 14, 2025, the Company entered into a share exchange agreement with TSUBAKIMOTO CHAIN CO. In conjunction with said share exchange, the Company will become wholly owned subsidiary. Accordingly, we have omitted a dividend forecast for the fiscal year ending March 31, 2026, as the Company's shares have been delisted from the Tokyo Stock Exchange as of December 29, 2025.
Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026)
On May 14, 2025, the Company entered into a share exchange agreement with TSUBAKIMOTO CHAIN CO. In conjunction with said share exchange, the Company will become wholly owned subsidiary. Accordingly, we have omitted a consolidated earnings projection for the fiscal year ending March 31, 2026, as the Company 's shares have been delisted from the Tokyo Stock Exchange as of December 29, 2025.
Notes:
Significant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
Changes in accounting policies due to revisions to accounting standards and other regulations: None
Changes in accounting policies due to other reasons: None
Changes in accounting estimates: None
Restatement: None
Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares): December 31, 2025: 10,156,104 shares
March 31, 2025: 10,924,201 shares
Number of treasury shares at the end of the period: December 31, 2025: 10,444 shares
March 31, 2025: 785,649 shares
Average number of shares outstanding during the period: Nine months ended December 31, 2025: 10,142,836 shares
Nine months ended December 31, 2024: 10,245,515 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
At a meeting held on May 14, 2025, the Company's Board of Directors approved a resolution for a share exchange agreement making TSUBAKIMOTO CHAIN CO. a wholly owning parent and the Company a wholly owned subsidiary. The Company entered into the share exchange agreement on the same date. After approval of the share exchange agreement at the Annual General Meeting of Shareholders on June 24, 2025, the Company's shares were delisted on December 29, 2025.
Quarterly Consolidated Financial Statements and Notes
(1) Quarterly Consolidated Balance Sheets
(Millions of yen)
As of March 31, 2025 As of December 31, 2025
Assets
Current assets
Cash and deposits 8,711 8,135
Notes and accounts receivable - trade, and contract assets | 12,283 | 13,193 |
Merchandise and finished goods | 5,979 | 5,964 |
Work in process | 4,600 | 5,243 |
Raw materials and supplies | 4,150 | 4,823 |
Other | 2,112 | 2,248 |
Allowance for doubtful accounts | (112) | (168) |
Total current assets | 37,725 | 39,439 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 6,938 | 7,000 |
Machinery, equipment and vehicles, net | 8,526 | 8,464 |
Land | 4,028 | 4,137 |
Leased assets, net | 478 | 396 |
Construction in progress | 1,307 | 1,750 |
Other, net | 1,016 | 985 |
Total property, plant and equipment | 22,295 | 22,734 |
Intangible assets | ||
Software | 209 | 199 |
Other | 13 | 40 |
Total intangible assets | 222 | 240 |
Investments and other assets | ||
Investment securities | 16,715 | 17,758 |
Deferred tax assets | 324 | 335 |
Other | 830 | 755 |
Allowance for doubtful accounts | (349) | (350) |
Total investments and other assets | 17,521 | 18,498 |
Total non-current assets | 40,039 | 41,473 |
Deferred assets | ||
Bond issuance costs | 38 | 32 |
Total deferred assets | 38 | 32 |
Total assets | 77,803 | 80,945 |
- 1 -
Liabilities
(Millions of yen) As of March 31, 2025 As of December 31, 2025
Current liabilities
Notes and accounts payable - trade | 7,687 | 7,519 |
Short-term borrowings | 5,451 | 7,424 |
Lease liabilities | 151 | 154 |
Income taxes payable | 250 | 333 |
Contract liabilities | 172 | 406 |
Provision for bonuses | 524 | 368 |
Provision for bonuses for directors (and other officers) | 10 | - |
Provision for product warranties | 133 | 122 |
Provision for loss on orders received | 37 | 17 |
Provision for loss on disaster | 140 | 15 |
Contract loss reserve | - | 80 |
Other | 3,092 | 3,678 |
Total current liabilities | 17,650 | 20,120 |
Non-current liabilities | ||
Bonds payable | 5,700 | 5,700 |
Long-term borrowings | 12,182 | 10,874 |
Lease liabilities | 1,102 | 1,042 |
Deferred tax liabilities | 1,499 | 1,754 |
Retirement benefit liability | 2,641 | 2,637 |
Other | 240 | 171 |
Total non-current liabilities | 23,365 | 22,180 |
Total liabilities | 41,016 | 42,301 |
Net assets | ||
Shareholders' equity | ||
Share capital | 3,536 | 3,536 |
Capital surplus | 3,273 | 3,270 |
Retained earnings | 15,105 | 15,960 |
Treasury shares | (622) | (6) |
Total shareholders' equity | 21,292 | 22,760 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 5,825 | 6,542 |
Foreign currency translation adjustment | 3,157 | 3,140 |
Remeasurements of defined benefit plans | 447 | 418 |
Total accumulated other comprehensive income | 9,430 | 10,101 |
Non-controlling interests | 6,064 | 5,781 |
Total net assets | 36,787 | 38,643 |
Total liabilities and net assets | 77,803 | 80,945 |
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