Financial Summary for the Third Quarter of the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated)

Overview of Performance

For the cumulative consolidated third quarter period of the fiscal year ending March 2026, net sales were 47,725 million JPY (up 20.9% YoY), operating income was 4,904 million JPY (up 28.4% YoY), ordinary income was 4,854 million JPY (up 60.8% YoY), and net income attributable to owners of parent for the quarter was 3,288 million JPY (up 98.2% YoY). The main drivers of revenue growth were the inclusion of Itoman Sports Wellness Co., Ltd. in the sports segment, contributing an increase of 5,855 million JPY, and an increase of 2,310 million JPY in revenue from the high school segment due to a rise in student numbers. On the expense side, personnel expenses and initiatives such as new mock exam development increased expenses by 20.1% YoY to 42,820 million JPY.

Segment Performance and Financial Position

By segment, net sales in the high school segment were 22,949 million JPY (up 11.2% YoY), with segment income of 5,284 million JPY (up 33.8% YoY). The elementary and junior high school segment posted net sales of 9,766 million JPY (up 2.1% YoY) and income of 1,700 million JPY (down 7.1% YoY). The sports segment recorded net sales of 13,489 million JPY (up 76.7% YoY) and income of 591 million JPY (up 18.7% YoY). The financial position saw increases with total assets at 95,794 million JPY and net assets at 36,061 million JPY, resulting in a capital adequacy ratio of 37.6%. There is no change in the full-year earnings forecast.