Financial Results for the Three Months

July 11, 2025

Company Name: Wakita & Co., LTD.

Code Number: 8125

(URL: https://www.wakita.co.jp/)

Stock Exchange Listing: Tokyo Stock Exchange Prime Market Representative: Teiji Wakita, President and Representative Director

Contact: Atsuhiko Nariyama, Director, General Manager of General Affairs Division Phone: 06-6449-1901

Scheduled date to commence dividend payment: -

Preparation of supplementary material on financial results: Available Holding of financial results briefing: None

(Figures are rounded down to the nearest million yen)

1. Consolidated Financial Results for the Three Months Ended May 31, 2025 (From March 1, 2025 to May 31, 2025)

   1. Consolidated Results of Operations (Percentage figures indicate changes from the same period of the previous year)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      Three months ended May 31, 2025	Millions of yen 23,104	% 5.1	Millions of yen 1,633	% 4.7	Millions of yen 1,637	% 3.8	Millions of yen 1,160	% 26.0
      May 31, 2024	21,978	9.9	1,560	6.5	1,577	5.1	921	8.3

      (Note) Comprehensive income: For the three months ended May 31, 2025: ¥1,170 million [4.2%]

      For the three months ended May 31, 2024: ¥1,123 million [9.3%]

      	Profit per share	Fully diluted profit per share
      Three months ended	Yen	Yen
      May 31, 2025	23.52	-
      May 31, 2024	18.67	-

   2. Consolidated Financial Position

   	Total assets	Net assets	Equity ratio
   As of May 31, 2025 February 28, 2025	Millions of yen 140,925 146,019	Millions of yen 98,146 101,921	% 68.7 68.9

   (Reference) Equity: As of May 31, 2025: ¥96,806 million

   As of February 28, 2025: ¥100,593 million

2. Dividends

   	Cash dividends per share
   	End of 1Q	End of 2Q	End of 3Q	Year-end	Total
   Fiscal year ended February 28, 2025 Fiscal year ending February 28, 2026	Yen - -	Yen 0.00	Yen -	Yen 100.00	Yen 100.00
   Fiscal year ending February 28, 2026 (Forecast)		0.00	-	100.00	100.00

   (Note) Revision to the dividend forecast from recently announced figures: None

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending February 28, 2026 (From March 1, 2025 to February 28, 2026)

(Percentage figures indicate changes from the previous year)

(Note) Revision to the financial forecast from recently announced figures: None

1. Significant changes in the scope of consolidation during the period: None Companies added to the scope: None

   Companies removed from the scope: None

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

   Not applicable

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

   1. Changes in accounting policies due to the revision of accounting standards, etc.: Applicable

   2. Any changes in accounting policies other than 1) above: Not applicable

   3. Changes in accounting estimates: Not applicable

   4. Restatements: Not applicable

4. Number of shares issued (common shares)

   1. Number of shares issued at the end of period (including treasury shares): As of May 31, 2025: 52,021,297 shares

      As of February 28, 2025: 52,021,297 shares

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

      As of May 31, 2025: 2,674,745 shares

      As of February 28, 2025: 2,674,673 shares

   3. Average number of shares during the period (cumulative from the beginning of the fiscal year): Three months ended May 31, 2025: 49,346,588 shares

Three months ended May 31, 2024: 49,361,525 shares

• Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary)

• Explanation for the appropriate use of performance forecasts and other special notes:

The performance forecasts and other descriptions on future events presented in this material are based on information that was available at the time of preparation of this material and based on certain assumptions considered to be reasonable, and not intended to guarantee their achievement. The actual performance, etc. may differ materially from these forecasts due to various factors.

Quarterly Consolidated Financial Statements

1. Quarterly Consolidated Balance Sheets

   Assets

   (Millions of yen) As of February 28, 2025 As of May 31, 2025

   Current assets
   Cash and deposits	21,183	19,094
   Notes receivable - trade	2,900	2,438
   Electronically recorded monetary claims - operating	4,487	3,558
   Accounts receivable - trade	11,717	11,185
   Investments in leases	2,519	2,513
   Securities	1,600	1,100
   Merchandise and finished goods	4,407	4,850
   Work in process	103	64
   Raw materials and supplies	186	180
   Other	994	1,442
   Allowance for doubtful accounts	(65)	(71)
   Total current assets	50,036	46,358
   Non-current assets
   Property, plant and equipment
   Assets for rent, net	14,831	13,792
   Real estate for rent, net	39,029	38,775
   Buildings and structures, net	10,410	10,536
   Land	11,961	11,961
   Leased assets, net	50	47
   Other, net	828	684
   Total property, plant and equipment	77,112	75,797
   Intangible assets
   Goodwill	5,835	5,420
   Customer-related intangible assets	3,959	3,900
   Other	907	1,052
   Total intangible assets	10,701	10,373
   Investments and other assets
   Investment securities	4,899	5,033
   Retirement benefit asset	1,188	1,220
   Deferred tax assets	242	364
   Other	2,475	2,418
   Allowance for doubtful accounts	(636)	(641)
   Total investments and other assets	8,168	8,395
   Total non-current assets	95,982	94,566
   Total assets	146,019	140,925

   Liabilities

   (Millions of yen) As of February 28, 2025 As of May 31, 2025

   Current liabilities

   Notes and accounts payable - trade	6,561	6,442
   Electronically recorded obligations - operating	3,626	3,504
   Short-term borrowings	168	160
   Current portion of long-term borrowings	152	127
   Lease liabilities	30	31
   Income taxes payable	1,382	871
   Provision for bonuses	556	1,087
   Provision for product warranties	21	21
   Provision for shareholder benefit program	386	419
   Other	9,319	9,424
   Total current liabilities	22,206	22,089
   Non-current liabilities
   Long-term borrowings	403	289
   Lease liabilities	77	74
   Deferred tax liabilities	3,003	2,941
   Deferred tax liabilities for land revaluation	435	448
   Provision for share based compensation expenses for 81 85 directors
   Provision for retirement benefits for directors (and other officers)	156	127
   Retirement benefit liability	415	402
   Long-term accounts payable - facilities	13,386	12,422
   Other	3,931	3,897
   Total non-current liabilities	21,891	20,689
   Total liabilities	44,097	42,778
   Net assets
   Shareholders' equity
   Share capital	13,821	13,821
   Capital surplus	16,627	16,627
   Retained earnings	73,229	69,445
   Treasury shares	(3,304)	(3,305)
   Total shareholders' equity	100,373	96,589
   Accumulated other comprehensive income
   Valuation difference on available-for-sale securities	1,954	2,031
   Deferred gains or losses on hedges	153	99
   Revaluation reserve for land	(2,144)	(2,156)
   Remeasurements of defined benefit plans	255	242
   Total accumulated other comprehensive income	219	217
   Non-controlling interests	1,328	1,340
   Total net assets	101,921	98,146
   Total liabilities and net assets	146,019	140,925

2. Quarterly Consolidated Statements of Income and Comprehensive Income