Announcement Regarding Revision of Full-Year Consolidated Earnings Forecast and Dividend Forecast

Details of Earnings Forecast Revision

DOWA Holdings Co., Ltd. has revised the full-year consolidated earnings forecast for the fiscal year ending March 2026, projecting net sales of 710,000 million yen (2.0% increase from previous forecast), operating income of 27,000 million yen (5.3% decrease), ordinary income of 45,000 million yen (4.7% increase), and net income attributable to owners of parent of 54,000 million yen (74.2% increase). Net sales were revised upward due to increased sales of information and communication related products, a weaker yen against the dollar, and rising metal prices. On the other hand, operating income is expected to decrease due to derivative valuation losses in the smelting segment caused by the rise in precious metals prices at the end of the third quarter. Ordinary income is expected to increase due to higher equity-method investment income from overseas zinc mines, among others. Approximately 23 billion yen in special gains is planned to be recorded in the fourth quarter.

Revision of Dividend Forecast and Background

The dividend forecast has been raised to 318 yen annually (previously 183 yen), of which 100 yen is a special dividend stemming from partial sale of shares in Fujita Kanko Inc. The dividend policy is to pay whichever is higher: a payout ratio of 35% or 150 yen per share. This increase reflects the revised earnings forecast and demonstrates a commitment to strengthening shareholder returns.