Fiscal Year Ending March 2026 Q3 Financial Summary [Japanese GAAP] (Consolidated)

Overview of Business Results

For the cumulative consolidated period of Q3 for the fiscal year ending March 2026, net sales amounted to JPY 40,666 million (4.0% increase YoY). Operating income was JPY 5,999 million (12.1% decrease YoY), ordinary income was JPY 6,573 million (11.2% decrease YoY), and net income attributable to owners of parent was JPY 4,392 million (20.5% decrease YoY). In the Japan segment, although sales of air conditioning equipment declined, demand for air conditioning installation and maintenance remained steady, resulting in net sales of JPY 35,680 million (1.2% increase YoY) but decreased profits. The Asia segment saw an increase in net sales to JPY 5,060 million (30.4% increase YoY), but due to price competition, it recorded an operating loss of JPY 33 million.

Financial Position and Revision to Earnings Guidance

Total assets stood at JPY 91,903 million (an increase of JPY 6,906 million from the previous consolidated fiscal year-end), net assets at JPY 65,128 million (an increase of JPY 847 million), and liabilities were JPY 26,775 million (an increase of JPY 6,058 million), resulting in a decline in equity ratio to 67.3%. The consolidated full-year earnings forecast for the fiscal year ending March 2026 was revised to net sales of JPY 58,700 million (3.0% increase compared to the previous year), operating income of JPY 9,100 million (8.9% decrease YoY), and net income attributable to owners of parent of JPY 6,500 million (17.0% decrease YoY). The dividend forecast remains unchanged at an annual dividend of JPY 50.