2026 Fiscal Year Q2 Interim Financial Results Summary (Japanese GAAP) (Consolidated)

Overview of results

During this interim period, net sales were 131,912 million yen, up 9.6% year on year. However, operating income declined to the 10 billion yen level due to amortization of goodwill and intangible assets related to M&A and upfront costs. Ordinary income rose slightly thanks to reductions in foreign exchange losses, and net income attributable to owners of the parent decreased from the 6.5 billion yen level to 6,540 million yen. Segment-wise, Transportation & Warehousing expanded both sales and profit, Packaging saw lower sales, and Testing posted higher sales but margin was compressed due to cost increases. Financial position remains stable with total assets of 433,180 million yen and a 56.0% equity ratio.

Outlook and shareholder returns

The dividend policy for the full-year of the fiscal year ending March 2026 is based on information as of the second-quarter end, applying an interim dividend of 37 yen per share at the end of the second quarter. There is no change to the full-year guidance from the time of disclosure; however, potential upside may arise from a recovery in performance, foreign exchange movements, and progress of M&A effects. Financial soundness remains steady with a 56.0% equity ratio. Operating cash flow has markedly improved, while the impact of changes in the scope of investing and financing activities is noted. Moving forward toward the interim and full-year plan, sustaining M&A effects and cost reductions will be key.