Notice of Revision to Full-Year Earnings Guidance

Overview of Guidance Revision

We have revised downward our consolidated and non-consolidated full-year earnings guidance for the fiscal year ending September Reiwa 8. Consolidated net sales have been revised from 11,000 hundred million yen to 9,909 hundred million yen, operating income from 380 hundred million yen to 260 hundred million yen, ordinary income from 370 hundred million yen to 209 hundred million yen, and net income attributable to owners of parent from 235 million yen to 149 million yen. The revision rate is approximately -9.9% on a consolidated basis and -9.5% on a non-consolidated basis. There is no change to the dividend forecast.

Background of the Revision and Segment Impacts

While the Industrial equipment and Food equipment businesses performed steadily, the Professional segment underperformed expectations due to Middle East conditions and costs associated with issuing a new catalog. Recovery in the Tatami and S&N businesses has been delayed, and recovery in the Consumer and New Industry segments was also slow, resulting in insufficient recovery by the fourth quarter. Overall sales are expected to exceed the previous fiscal year, but will not reach the originally forecast levels.