Fiscal Year Ending December 2026 Third Quarter Financial Summary [Japanese GAAP] (Consolidated)

Overview of Results

For the cumulative third quarter consolidated period, net sales were 13,635,484 thousand yen (Year-over-Year +12.8%), and gross profit margin improved due to foreign exchange effects and product mix. Operating income turned positive to 747,803 thousand yen, ordinary income was 686,549 thousand yen, and net income attributable to owners of parent was 322,426 thousand yen. A customs duty refund of 208,372 thousand yen was recorded as extraordinary income, while an estimated additional tax related to prior years' UK VAT and others of 167,945 thousand yen was recorded as an extraordinary loss. Full-year forecasts remain unchanged: net sales 18,500 hundred million yen, operating income 900 hundred million yen, net income 400 hundred million yen, and earnings per share 92.60 yen. Segment information is omitted because the company has a single business segment of musical electronic equipment.

Shareholder Returns and Financial Position

Regarding dividends, a total dividend of 32.00 yen for fiscal 2025 (end of Q1–Q3) was recorded, and the full-year dividend forecast for fiscal 2026 is expected to be 32.00 yen; no revision to the dividend forecast is stated in this third quarter financial summary. Financial position improved with total assets of 18,507,648 thousand yen, net assets of 7,593,429 thousand yen, and a solvency ratio (equity ratio) of 31.0%. Cash and deposits increased, expanding current assets, and total liabilities were reduced to 10,914,218 thousand yen due to decreases in long-term and short-term borrowings.