Financial Presentation Materials for the Fiscal Year Ending March 2026

Overview of Business Results

Consolidated results for the fiscal year ending March 2026 showed net sales of JPY 137.851 billion (16% YoY increase), operating income of JPY 32.529 billion (47% YoY increase), ordinary income of JPY 32.244 billion (49% YoY increase), and net income attributable to owners of parent of JPY 24.011 billion (123% YoY increase). The increase in net sales was mainly driven by higher sales volumes of packaging substrates and rigid board materials, supported by rising demand from AI proliferation, automotive applications, and smartphones. The foreign exchange impact was negative due to a 1.6 yen appreciation of the yen, but overall performance significantly improved.

Segment Performance

The Electronics segment reported net sales of JPY 95.285 billion (17% YoY increase) and operating income of JPY 29.177 billion (36% YoY increase), showing strong performance. The Pharmaceutical segment recorded net sales of JPY 36.490 billion (16% YoY increase) and operating income of JPY 5.063 billion (147% YoY increase), with significant profit growth. The ICT&S segment posted net sales of JPY 6.075 billion (6% YoY increase) but incurred an operating loss of JPY 9 million. Company-wide expenses decreased the operating loss to JPY 1.616 billion, an improvement from the previous year.

Dividends and Tender Offer Status

No year-end dividend is planned for the fiscal year ending March 2026, with an annual dividend forecast of JPY 165.00. Neither interim nor year-end dividends are expected for the fiscal year ending March 2027. Furthermore, the company has resolved to support the tender offer by KJ005 Co., Ltd., a fund managed by KKR, leaving the decision to apply to shareholders. The tender offer is scheduled to start early October 2026, with an offer price of JPY 4,750 per ordinary share.