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Assisting companies to continue and prosper through M&A TSE code ２１２７ IRReport Financial Results Report for Q2 FY2025 Year to March 2026 30 October 2025 The information included in this presentation, such as industry trends and analysis, future plans and forecasts, is based on data available at the time of release. As the operating environment is subject to risks of large changes and uncertainties we make no guarantees regarding future plans or forecasts.
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Table of Contents Nihon M&A Center Holdings Purpose P1 H1 FY2025 Results Review P２～1４ Summary of H1 FY2025 Results P３～6 H1 FY2025 Income Statement Key Data P７ Summary of Q2 FY2025 Results P８ Summary of Leading Indicators in Q2 FY2025 Results P９ （Reference） Latest Leading Indicators and Corresponding M&A Mandate Flow P１０ （Reference） Record of Transactions Closed, M&A Sales, New Mandates P11 Balance Sheet Key Data P12 Number of Employees P13 Changes to employee classifications P14 Shareholder equity and Shareholder Breakdown P１５～1８ Shareholder Return Contribution (Dividend Policy) P１６ ROE trend P１７ Share Ownership and Market Capitalization P１８ FY2025 Forecast and Mid-term Management Plan P１９～２１ FY2025 Forecast P２０ Mid-term Management Plan P２１ Related Activities P２２～２７ Update on Related Activities P２３ TOKYO PRO Market (TPM) IPO support activities P２４ PMI Consulting business P２５ Overseas Activities P２６ Fund business P２７ Features P２８～3３ Active in digital transformation and adoption of AI (data-driven management) P２９ Marketing roadshow P３０ Regional marketing P3１ Branding P3２ Sustainability P３３ Industry Trends P34～４2 Industry Trends – External Landscape P35 Industry Trends - Response by SME Agency P36～３7 Industry Trends – Response by Self-Regulatory Body P３8 Industry Trends – Our Response P３9～４2 Business Environment P４3～４5 （Reference） Distribution of the Age of Owners & Ratio of Companies with No Successor P４4 （Reference） Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up P４5 Potential Market P４6～４8 Estimated Potential Demand for M&A Related to Business Succession P４7 M&A Potential Market Size P４8 Company Overview P49～６5 (Reference) Track record on Sales and Ordinary Profit since FY2009 P50 Corporate Profile P５1 Corporate History P52 Business Model Nationwide M&A information network P５3 The Strengths of Nihon M&A Center P５4 Our Workflow as An M&A Intermediary P５5 Becoming An Integrated M&A Company Specialised high quality group companies P56 Nihon M&A Center Inc. Organization Structure P５7 Human Resource Development Plan P５8 What We Do for Digital Transformation P５9 Transactions closed in FY2024 P60～６1 Number of Transactions Closed in Q2 P62～63 Sustainability Initiatives P６4 Our M&A intermediary activities provide economic benefits P６5 Nihon M&A Center Holdings Philosophy P６6 To Become the Top Global Integrated M&A Company P６7 Lastly P６8
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Nihon M&A Center Holdings Purpose Best M&A ＝ Top level compliance, client satisfaction, quality To connect hopes and dreams for the best M&A experience in Japan and then the world
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H1 FY2025 <April to September, 2025> Results Review
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 3 Summary of H1 FY2025 Results Comparison of H1 results (YoY) and original forecasts Both sales and ordinary profit performed strongly Recorded a significant increase in both revenue and profit (YoY) Substantially exceeded the original earnings forecasts FY2025 H1 results (Apr - Sep) YoY FY2025 H1 Original forecast % reached Sales 22,587 ¥mn +21.5% 20,100 ¥mn 112.4% Ordinary profit 8,571 ¥mn +43.1% 6,800 ¥mn 126.0% OP margin 37.9％ +5.7pt Sales ： There were increases in the number of completed transactions and the average revenue per M&A transaction Ordinary profits ： Continued promotion of sales increase and cost optimization Announced an upward revision to H1 earnings forecast on October 23 Link to “Notice Regarding (Upward) Revision of Earnings Forecast”: https://www.nihon-ma.co.jp/ir/pdf/251023_information_en.pdf
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 4 0 5,000 10,000 15,000 20,000 (¥mn) 0 10,000 20,000 30,000 40,000 50,000 (¥mn) Progress toward full-year earnings forecasts Sales: 48.8%, Ordinary profit: 50.4% (Reference: Progress in H1 of the prior year – Sales: 38.0%, Ordinary profit: 35.2%) Summary of H1 FY2025 Results YoY +21.5％ 48.8％ Progress toward full-year earnings forecast YoY +43.1％ 50.4％ Progress toward full-year earnings forecast Sales progress Ordinary profit progress H1 FY2025 result 22,587 H1 FY2024 result 18,591 FY2025 full - year forecast 46,300 H1 FY2025 result 8,571 H1 FY2024 result 5,990 FY2025 full - year forecast 17,000
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 5 OP margin 37.9％ YoY +5.7pt Large transactions* closed 46 *2 YoY +58.6% Summary of H1 FY2025 Results Sales ： There were increases in the number of completed transactions and the average revenue per M&A transaction, contributing to a strong growth in sales Completed transactions were up 7.5% following our success to adhere to policies such as those outlined below at the start of the financial year to increase the number of completed transactions • Ensured thorough project management from the start of negotiations through to closure (including kick-off meetings and standardizing general managers systems for managing mandates) Further benefits accrued from implementation of policies for mid-cap companies, resulting in maintaining a high level of M&A sales per transaction • Result of providing a company-wide support system through a specialized department (Growth Strategy Development Centre) • Large transactions* closed H1 FY2024： 29 ⇒ H1 FY2025： 46 (Up 58.6% YoY) （* Transactions with total success fees in excess of 100 ¥mn) The proportion of small-scale deals has also decreased, contributing to an increase in average M&A sales per transaction Ordinary Profits ： High growth due to sales increase and the impact of continued promotion of cost optimization Number of transactions closed 488 *1 YoY +7.5% Sales 22,587 ¥mn YoY +21.5% Ordinary profit 8,571 ¥mn YoY +43.1% M&A sales / transaction 44.6 ¥mn YoY +12.6% *１ Counting completed sell-side and buy-side mandates separately *２ Counting completed sell-side and buy-side mandates as one transaction
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 6 YoY Cause/results Sales 22,587 +21.5% 3,996 Cost of ｓales 8,６01 +14.6% 1,099 In the current financial year to March 2026 a reclassification of our employees has been made in order to make categorization more explicit and to promote optimal use of our resources (for details of the reclassification, see IR Report Financial Results Report for Q1 FY2025 page 11) As a result of the change, in H1 of the prior year (FY2024) Cost of sales reduces by 943 ¥mn and SGA expenses increase by 943 ¥mn SGA expenses 5,586 +8.2% 422 Referral fees （Cost of sales） ：3,200 ¥mn, +638 ￥ｍ ｎ versus prior year （Referral fees ratio：14.2％, 0.4 percentage point increase versus prior year） IT costs （SGA expenses） ：517 ¥mn （See page 29 for explanation of our polices to pursue data-driven management） Ordinary Profit 8,５71 +43.1% 2,580 Ordinary profit margin ： 37.9％ 5.7 percentage point increase versus prior year Summary of H1 FY2025 Results H1 FY2024 Difference （¥mn） As reported Reclassified 8,445 7,502 －943 4,221 5,164 ＋943 12,666 12,666 ±0 FY2025 H1 Results Cost of sales Net change SGA expenses Total employee costs (¥mn) SGA Ratio 24.7％ 27.8％ -3.1pt COGS Ratio 38.1％ 40.4％ -2.3pt (Prior year) (Prior year)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 7 *The amount “0” indicates less than ¥1mn, the term “-” indicates that there is no applicable amount. H1 FY2025 Income Statement Key Data (¥mn, ％) H1 FY2025 results YoY H1 FY2024 results FY202５ full-year forecasts Total ％ % Total % Total % Sales 22,587 100.0 21.5 18,591 100.0 46,300 100.0 (o/w M&A sales) 21,780 96.4 21.2 17,977 96.7 Cost of sales 8,601 38.1 14.6 7,502 40.4 (o/w referral fees and outsourcing expenses) 3,200 14.2 24.9 2,562 13.8 (o/w personnel and transportation costs) 5,220 23.1 9.0 4,791 25.8 Gross profit 13,986 61.9 26.1 11,089 59.6 SGA expenses 5,586 24.7 8.2 5,164 27.8 Operating profit 8,399 37.2 41.8 5,924 31.9 17,000 36.7 Non-operating income 216 1.0 25.9 171 0.9 Non-operating expenses 44 0.2 -58.0 105 0.6 Ordinary profit 8,571 37.9 43.1 5,990 32.2 17,000 36.7 Extraordinary gain - - - - - Extraordinary loss - - - - - Pretax profit 8,571 37.9 43.1 5,990 32.2 Tax (corporation tax & other) 3,177 14.1 43.4 2,216 11.9 Net profit 5,393 23.9 42.9 3,774 20.3 Profit attributable to parent company 5,410 24.0 44.7 3,739 20.1 11,000 23.8
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 8 Summary of Q2 (Jul – Sep) FY2025 Results Q2 results （Jul – Sep) FY2025 FY2024 YoY Sales （¥mn） 13,569 10,953 +2３.9% Ordinary profit （¥mn） 6,037 4,444 +35.9% OP margin （％） 44.5 40.6 +3.9pt Transactions closed (Counting sell-side and buy-side mandates separately) 276 263 +4.9% M&A sales/transaction （¥mn） 47.6 40.4 +17.7% Large transactions* closed (Counting sell-side and buy-side mandates as one transaction) 32 19 ＋68.4％ Further benefits accrued from implementation of policies for mid-cap companies, resulting in a significant increase in M&A sales per transaction * Transactions with total success fees in excess of 100 ¥mn
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 9 *１ Most mandates with retainer fee. Count each collected contract as one mandate. Includes mandates gained by overseas subsidiar ies. *２ Mandates with expectation of total success fees in excess of ¥100mn. Excludes mandates gained by overseas subsidiaries. *3 Most mandates with retainer fee. Count each collected contract as one mandate. Excｌudes mandates gained by overseas subsidiaries. Number of new transaction negotiations 297 YoY -4.8% Summary of Leading Indicators in Q2 (Jul – Sep) FY2025 Results o/w Number of mid-cap mandates*2 49 YoY -26.9% Number of new sell-side mandates*1 327 YoY ‐15.9% Number of new buy-side mandates*3 388 YoY -4.0% ⇒ Focus on increasing new sell-side mandates in H2 while working to ensure thorough project management of sales negotiation to achieve growth in completed transactions and higher sales New sell-side mandates: Due to continued emphasis on completing transactions and increasing sales, new mandates fell below prior year levels • In order to increase the success rate of completing transactions, some sales channels became far stricter in screening of new mandate opportunities • Implementing measures to encourage new mandate acquisition among M&A consultants with tenure of no more than three years Number of new transaction negotiations ： 297 (-4.8% YoY) • Focusing on schedule management for buy-side mandates received in Q2, targeting completion of transactions during Q3 • Promoting early preparatory phase for sell-side mandates received in September (* Preparatory Phase = Preparation period for matching, such as the creation of company valuation reports and company overview documents. ) *
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 10 327 -15.9% New sell-side mandates*1 （Reference） Latest Leading Indicators and Corresponding M&A Mandate Flow Completed transaction drivers Productivity drivers Transaction value drivers Comprising*1 38８ -4.０% 2９７ ‐4.8% 181 55.4% of new sell-side mandates Central area companies*４ 49 -26.9% Mid-cap mandates*３ Preparatory period *5 was shortened to about 60 days and remained stable New buy-side mandates*２ New transaction negotiation Comprising*1 Preparatory period (days) 1Q 2Q 3Q 4Q FY2023 100 95 90 90 FY2024 85 59 59 59 FY2025 57 60 Definitive agreement Management meetingMatching Preparation of valuations & teasers M&A advisory agreement with potential sellers Mandate / Preparatory phase Negotiation phaseMatching phase Completion *1 Most mandates with retainer fee. Count each collected contract as one mandate. Includes mandates gained by overseas subsidiaries. *2 Most mandates with retainer fee. Count each collected contract as one mandate. Excｌudes mandates gained by overseas subsidiaries. *3 Mandates with expectation of total success fees in excess of ¥100mn *4 Central areas = 12 prefectures with relatively higher expectations for successful completion (Tokyo, Chiba, Saitama, Kanagawa, Ibara ki, Osaka, Hyogo, Kyoto, Aichi, Shizuoka, Hiroshima, Fukuoka) *5 Preparatory Period = Preparation for matching, such as the creation of company valuation reports and company overview documen ts. Median number of days required in the preparatory phase * Figures for Q2 (Jul - Sep) FY2025, % changes YoY
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 11 （Reference） Record of Transactions Closed, M&A Sales, New Mandates （Units: no. of transactions, million yen） FY2022 FY2023 FY2024 FY2025 ２Q Full year １Q ２Q ３Q 4Q Full year １Q 2Q ３Q 4Q Full year １Q 2Q Total number of transactions close (by no. of companies) *1,5 270 1,050 230 266 300 350 1,146 19１ ２６３ 284 ３４０ 1,078 212 276 Cumulative total for the financial year 496 - 230 496 796 1,146 - １9１ ４５４ 738 1,078 - 212 488 Number of sell-side transactions closed 135 519 115 131 146 １７４ 566 ９8 １３２ １４０ 169 539 107 136 Number of buy-side transactions closed 135 531 115 135 154 １７６ 580 ９３ １３１ １4４ 171 539 105 140 Total number of deals *1,5 137 539 116 136 156 177 585 96 1３９ 145 １７４ 554 109 141 Cumulative total for the financial year 253 - 116 252 408 585 - ９６ ２３５ 380 554 - 109 250 M&A sales*２ 10,570 39,416 7,695 10,63７ 11,675 12,650 42,659 7,347 10,630 10,８８４ 13,8４７ 42,7０９ 8,652 13,127 M&A sales/ transaction*３ 39.2 37.5 33.5 40.0 38.9 36.1 37.2 38.5 40.4 38.３ 40.7 39.6 40.8 47.6 Number of new sell- side mandates *４,5 297 1,184 280 298 287 327 1,1９2 327 (6) 389 （１１） 338 （８） 378 (9) 1,432 (34) 289 （15） 327 (21) Cumulative total for the financial year 607 - 280 578 865 1,192 - 327 (6) 716 (17) 1,054 (25) 1,432 (34) - 289 (15) 616 (36) Continually implementing policy to increase the M&A sales per transaction (measures to strengthen ability to gain large mandates and handle small mandates by a group company) ＜From FY2024 mandates in overseas subsidiaries are included. The figures in brackets refer to overseas mandates.＞ *1 The total number of transactions closed in the line 1-1 represents the sum of the number of completed sell-side and buy-side mandated transactions; the total number of deals in the line 4-1 represents the number of deals in which we were involved. *2 This number does not include M&A Sales by Batonz Co., Ltd. *3 This number represents M&A sales (including retainers and other fees) divided by the number of transactions closed (number of companies). *4 In most of our newly contracted mandates, we receive a retainer fee from the seller side. The figure for the total sell-side mandates is calculated on the basis of the effective date of the selling party’s contract. *5 Includes numbers of mandates / transactions closed for joint ventures with financial institutions as well as transactions closed in overseas subsidiaries.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 12 H1 FY2025 Balance Sheet Key Data （¥mn, ％） End-Sep 2025 % Change End-Mar 2025 Ⅰ Current assets 40,111 66.3 -2,455 42,566 Cash and deposits 35,231 58.2 -3,979 39,211 Accounts receivable 2,175 3.6 -457 2,633 Others 2,704 4.5 1,982 722 Ⅱ Fixed assets 20,409 33.7 1,189 19,219 Total assets 60,520 100.0 -1,265 61,786 （¥mn, ％） End-Sep 2025 % Change End-Mar 2025 Ⅰ Current liabilities 8,548 14.1 -1,347 9,896 Ⅱ Long-term liabilities 3,630 6.0 -670 4,300 Total liabilities 12,178 20.1 -2,017 14,196 Interest bearing liabilities 4,700 7.8 -700 5,400 Net assets 48,341 79.9 752 47,589 Retained earnings 57,596 95.2 65１ 56,944 Treasury stock -18,808 -31.1 94 -18,903 Total liabilities and net assets 60,520 100.0 -1,265 61,786 Maintaining a healthy balance sheet Asset Liabilities and net assets
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 13 972 1,083 1,043 1,086 1,087 900 1,000 1,100 End of FY2021 End of FY2022 End of FY2023 End of FY2024 End-Sep FY2025 (no. of employees) Number of Employees End of FY2024 End-Sep FY2025 M&A consultants*１ ６３０ ６4０ （Cost of sales） (SGA expenses) １８５ １66 ７２ ７0 Corporate*１ １８６ 198 Financial*１ １３ １3 Total 1,0８６ 1,087 *1 Definitions of the different categories of employeeｓ are as below. The figures in the charts above exclude secondees to Nihon M&A Center. • M&A consultants … Includes M&A consultants in Japan and overseas subsidiaries • M&A support （Cost of sales） … Includes Value Promotion HQ, Japan PMI Consulting,TPM Div., Corporate Value Laboratory and Special People Association co., ltd • M&A support (SGA expenses) … Includes M&A support staff in Japan and overseas subsidiaries • Corporate … Includes Marketing HQ, Corporate HQ, other administrative staffs, secondees to investee companies (when secondment is principal employment) and Nihon M&A Center Holdings • Financial … employees of our private equity subsidiaries *2 From Q2 FY2023 Batonz Co., Ltd. became one of affiliate companies with headcount no longer consolidated within the group. *２ Hiring situation for M&A consultants is favorable. However, increase in turnover, particularly among employees with tenure of no more than three years, remains a challenge. Plan to adjust HR targets in H2 to maintain emphasis on quality of hiring and the appropriate number of hires, focusing on talent development and retention. 0 Starting from the current financial year we are making changes to the definitions for our employees（detailed explanations follow) M&A support*１ Cost of sales SGA expe nses Number of employees(consolidated)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 14 Changes to employee classifications Number of employees (former classification) From the current financial year, changes have been made to the division of employee expenses between Cost of sales and SGA expenses, and the disclosure categories for personnel have been changed from three to four (For details, see IR Report Financial Results Report for Q1 FY2025 page 11) • During the current financial year to March 2026, data related to numbers of employees will be reported according to both the new and old categories. From the year to March 2027 the policy is for figures only to be reported according to the new categories End of FY2021 End of FY2022 End of FY2023 End of FY2024 End-Sep FY2025 M&A consultants, specialists*１ 568 ６２２ ６4５ *2 7１６ 725 Support staff*１ 335 3８３ ３3４ *2 299 293 69 78 ６４*2 71 69 Total 972 1,0８３ 1,04３*2 1,086 1,087 (‐) (‐) SGA expenses Cost of sales (o/w Batonz Co., Ltd.) (62) (‐) Administration, Internal audit office *1 The definitions of M&A consultants/specialists and Support staff included in the total number of employees are as follows. The figures in the chart above exclude secondees to Nihon M&A Center. M&A consultants, specialists: sales personnel (including at subsidiaries); Midcap Support Office members; Japan PMI Consultin g members; legal and accounting professionals specialized in M&A transaction support. Support staff: employees in Strategy H.Q., training department, internal sales, sales support in subsidiaries , IT support, TPM Div. *2 From Q2 FY2023 Batonz Co., Ltd. became one of affiliate companies with headcount no longer consolidated within the group.
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Shareholder equity and Shareholder Breakdown
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 16 0% 30% 60% 90% 0 5 10 15 20 25 30 FY2021 FY2022 FY2023 FY2024 FY2025 (forecast) Dividends（left axis） Pay-out ratio (right axis) Shareholder Return Contribution (Dividend Policy) Annual dividend amount ¥ 1 ８ Annual dividend amount ¥ ２３ Annual dividend amount ¥ ２ 9 Annual dividend amount ¥ ２３ ＊ Adjusted for two-for-one share splits on 1 Apr 2021 Annual dividend amount ¥ ２ 9 （ o/w interim: ¥ １４ ） This is a year in which to face up to change in the external environment and steer our way back to the customary cycle of results achievement ⇒ A policy to maintain a ¥29 dividend level （including special ¥6 dividend) like last year Shareholder Return Dividend per share Pay-out ratio FY2024 ¥29 84.0% FY2025 forecast ¥２９ 83.6% Dividends and pay-out ratio Pay-out ratio 52.0% Pay-out ratio 77.3% Pay-out ratio 84.0% Pay-out ratio 69. ６ % Pay-out ratio 83.6 % Special dividend ¥3 Special dividend ¥6 “Dividend pay-out ratio of 60% or more” to be continued during mid-term management plan period (¥)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 17 ROE trend ROE to progress over ２0％ 24.0 % 18.7 % 21.8 % 24.1 % 22.9 % 0 10 20 30 0 10,000 20,000 30,000 40,000 50,000 60,000 FY2021 FY2022 FY2023 FY2024 FY2025 （forecast） Shareholder equity（left axis） ROE（right axis） (¥mn) Shareholder equity and ROE （return on equity） (%)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 18 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Share Ownership and Market Capitalization (¥100mn) Foreign 28.9 ％ Financial institutions 30.2 ％ Individuals 3 ０ .7 ％ Treasury stock 5.8 ％ Other corporations 2.3％ Securities companies 2.1％ Ratio of individual shareholders has decreased, while ratio of institutional investors has increased Share ownership as of 30 Sep 2025 Market capitalization （from Apr 2020） No. of shareholders: 98,103 No. of shares issued: 336,934,800
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FY2025 Forecast and Mid-term Management Plan
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 20 H1 H2 Full year FY2024 results Compared to FY2024 results FY2024 forecasts Compared to FY2024 forecasts Sales (￥mn) 20，100 （43.4%） 26,200 （56.6%） 46,300 （100%） 44,077 +5.0% 48,900 -5.3% Operating profit (￥mn) 6,800 （40%） 10,200 （60%） 17,000 （100%） 16,715 +1.7% 17,000 0.0% Ordinary profit (￥mn) 6,800 （40%） 10,200 （60%） 17,000 （100%） 16,918 +0.5% 17,000 0.0% Profit attributable to parent company (￥mn) 4,０00 （36.４%） 7,000 （63.6%） 1１,000 （100%） 10,955 +0.４% 11,000 0.0% Earnings per share （￥） １２.6１ （36.4%） 2２.0６ （63.6%） 34.67 （100%） 34.54 +0.４% 34.68 -0.0% FY2025 Forecast Sales forecast to decline for first time since IPO Target Expected result FY2025 Consolidated results forecasts １. A return to our customary cycle of attaining results targets ・ Once more create a sustained cycle whereby most of the full year results are reached in the first nine months, taking pressure off Q4 ２. Regain stakeholder confidence by clearly achieving results ・ By raising the per cent of employees reaching targets* employees will regain confidence. Motivation levels throughout the organisation will rise in tandem with successes being recorded. ・ By clearly achieving our results targets investor trust will be restored and long-term relationships built. In response to changes in client behaviour, in order to increase the ratio of completed mandates ① create more time to become closer to clients ② raise consultants performance level Regarding the earnings forecast for H1, we announced an upward revision on October 23. For details, see the release.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 21 Target higher than budgeted figures 44,077 46,300 50,000 54,000 16,918 17,000 18,000 20,000 0 10,000 20,000 30,000 40,000 50,000 60,000 FY2024 results FY2025 target FY2026 target FY2027 target Consolidated sales Consolidated ordinary profit Mid-term Management Plan Target a return to our customary trend of achieving sales forecasts and surpassing budgeted figures + 0.5 ％ + 5.9 ％ + 11.1 ％ +5.0 ％ +8. ０％ +8.0 ％ Mid-term Management Plan (¥mn)
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Related Activities
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 23 *1 M&A sales include Batonz until Q1 FY2023. From Q2 FY2023 Batonz Co., Ltd. became one of affiliate companies with headcount no longer consolidated within the group *2 M&A cost of sales consists of referral fees and outsourcing expenses *3 Unallocated cost of sales includes personnel costs, transportation costs, other *4 From the current financial year, changes have been made to the employee classification. The gross profit from the previous fiscal year mentioned on this page does not take into account the changes in personnel classification, and therefore, it differs from the figures presented on other (¥mn) Q2 FY２０２５ Total Ratio to total sales YoY Ｍ＆Ａ sales*1 21,780 100.0％ 121.2％ M&A cost of sale*2 3,200 14.7％ 124.9% M&A gross profit ① 18,579 85.3％ 120.5% Other sales*1 807 100.0％ 131.5% Other cost of sales 180 22.3％ 120.7% Other gross profit ② 627 77.7％ 134.9% Unallocated cost of sale③*3 5,220 23.1％ 91.0% Gross profit （①+②-③） 13,986 61.9％ 137.8% Update on Related Activities FY2024 FY2023 FY2022 Total YoY Total YoY Total YoY 42,709 99.8% 42,788 107.5% 39,785 102.5% 5,384 89.1% 6,043 117.9% 5,126 106.9% 37,325 101.6 36,745 106.0% 34,658 101.9% 1,368 101.5% 1,348 88.1% 1,530 96.0% 289 74.0% 391 115.9% 338 134.8% 1,078 112.8% 956 80.2% 1,191 88.8% 13,624 104.3% 13,065 105.9% 12,338 110.1% 24,779 100.6% 24,636 104.8% 23,511 97.4% Financial Performance of M&A Sales and Other Sales Q2 FY２０２4 Total YoY 17,977 97.4% 2,562 91.4% 15,415 98.4％ 614 86.6％ 149 85.6％ 464 87.0％ 5,733 101.5％ 10,146 96.2％ QoQ comparison YoY comparison *4
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 24 TOKYO PRO Market (TPM) *1 IPO support activities Market shares of IPO sponsorship reached a total of 50 companies The number of companies listed on TPM (end-Sept. 2025) *1 A stock market operated by the Tokyo Stock Exchange for professional domestic and overseas investors. It provides more flexible listing criteria than the general markets *2 Authorised by the Tokyo Stock Exchange to review TPM IPO candidate applications and provide post-IPO support for processes such as disclosure and financing. Our company was authorised in 2019 *3 Based on the application for listing on TPM. January-December 2023, January-December 2024 Top J-Adviser *2 market share of IPO sponsorship 2 years in a row *3 149 firms listed in total 44 firms sponsored by Nihon M&A Center Nihon M&A Center sponsor track record • Prefectures with J-Adviser/F-Adviser contract records • TOKYO PRO Market-listed companies sponsored by J-Advisers • Fukuoka PRO Market-listed companies sponsored by F-Advisers Birth of star companies nationwide, contributing to regional and national regeneration Sponsored the first TPM listing in Nagano Prefecture (Q2)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 25 March 2022 The SME Agency has developed the ‘PMI Guidelines for SMEs’ July 2024 The FSA has revised the 'Supervisory Guidelines for Small and Regional Financial Institutions,' encouraging the strengthening of M&A support, including PMI April 2025 The SME Agency has published a ‘Skill Map for Specialized Personnel (Individuals) in Small and Medium-Sized M&A business’ PMI Consulting business The necessity of PMI (Post Merger Integration process) is increasing Main changes in the external environment surrounding PMI support for SMEs Our group uniquely provides a seamless service from information provision about M&A to successful completion Japan PMI consulting Inc. A consulting company specializing in supporting PMI (Post Merger Integration process) Holding unique know-how for PMI support of SMEs Wholly owned by our company FY2022 FY2023 FY2024 FY2025 H1 (Apr - Sep) Track record of providing PMI ５５ 66 93 ５９ + 40.9 %
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 26 ▲ Mr. Ojima, General Manager of the ASEAN Promotion Department, International Division, speaking at an event Overseas Activities Established local subsidiaries in five ASEAN countries to promote cross-border M&A involving mid-sized and small companies Locations where we have established a presence (as of end-Sept. 2025) Overseas mandates, carrying higher average fees than domestic mandates, towards further growth starting this fiscal year 5 overseas locations Thailand local subsidiary Vietnam local subsidiary Malaysia local subsidiary Singapore local subsidiary Indonesia local subsidiary (Reference) Activities in Malaysia ▲ Signing ceremony with YYC Group Formed a partnership with YYC Group (YYC Advisors), one of the top Malaysian accounting firms (July). Participated in the “ASEAN SME Forum” and “SME100 Awards ASEAN 2025,” attended by entrepreneurs from across ASEAN. Aimed to enhance recognition in the ASEAN region (October). Held a joint event with YYC Group and Oversea-Chinese Banking Corporation (OCBC), one of Southeast Asia’s leading banks (October). <Result> Supported 12 cross-border M&A transactions during FY2024
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 27 Fund business Starting the year to develop the fund business as our company’s second pillar Japan Investment Fund (Since Jan. 2018, joint venture between the Company and the Development Bank of Japan) Funds to increase company values and support regional rejuvenation * Search fund: activities in which individuals who are prospective business owners take the lead in business succession of SMEs and themselves engage in business management Investments to date (as at July 2025) • Fund Number 1 (Since Feb. 2018) 12 investments in total out of which 6 exited from Aichi, Ishikawa [2], Kumamoto, Tokyo, Miyazaki • Fund Number 2 (Since Jan. 2024) 4 investments in total J-Search (Since October 2024) Hokkaido Search Fund Number 1 Established on 1 April 2025 Hokkaido Southern Kyushu Search Fund Number 1 Established on 1 April 2025 Southern Kyushu Hokuriku Search Fund Number 1 Established on 1 May 2025 Hokuriku Together with regional financial institutions we have created bespoke regional search funds*. Filling gaps in management resources in the regions AtoG Capital (Since December 2023) Invests in mid-sized and small companies in the ASEAN region, where acquisition hurdles are high for Japanese companies, and strengthens governance and compliance structures. Aim for exits to Japanese companies. Fund Number 1 first investment (October 2024).
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Features
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 29 (Recordings of business interviews are only made with prior approval of participants. Furthermore, permitted use of recordings is subject to the rules in the “Nihon M&A Center policy for use of personal data”) <Results> Accumulated voice data from M&A needs interviews with over 6,000 potential buyer and summary proposals to about 2,500 candidate companies （The number of companies is as of Oct 2025） Analyzed characteristics of proposals by high performers Active in digital transformation and adoption of AI (data-driven management) Jointly developed business interview analysis using AI Bring Out for M&A (Beta version ) Adopting Bring Out in the M&A process Building a proprietary corporate database as the foundation for AI utilization M&A advisory agreement Interview Company valuation Preparation of company overview documents Interview Matching Summary proposal M&A advisory agreement Kick-off meeting Management Meeting Condition negotioation Signing of basic agreement Due diligence Signing ofdefinitive agreement Disclosure PMI Seller Potential buyer … Analysis of conversations using Bring Out Matching Support Proposal quality enhancement Seamless interdepartmental collaboration Planning additional functional enhancements to provide higher-level consulting, including automatic creation of proposal materials and synergy-hypothesis generation support for M&A. * Beta version: Trial version
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 30 Marketing roadshow Nationwide seminar tour held at approximately 40 locations Conducted at 28 locations in H1, receiving over 6,000 applications Results of our nationwide seminar tour ▲ Tokyo venue (August) Received approximately 1,800 applications in one day Through the seminars we aim to gain new clients and deepen our client relationships ▲ Imabari venue (August) Held a collaborative event with a local sports team ▲ Oita venue (September) A well-known business leader active in the media appeared Speaker rostrums strengthened to cover more than the themes of succession planning and M&A, responding to owners’ interests with celebrities, local authority leaders and university teachers Example of events
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 31 Regional marketing Strengthen relationship with local clients by developing in a way that is close to the community Chuu-Shikoku Branch（Hiroshima） … Established in 2018. As an office where approximately 25 M&A consultants are active, it has been upgraded from a small branch to strengthen its structure from the current fiscal year • Signed a sponsorship agreement with Hiroshima’s professional basketball club, the Hiroshima Dragonflies • Displayed billboard advertisements at Hiroshima Airport • Collaboration with a local TV station, Television Shin-Hiroshima, for a long-running economic program Including program production and holding seminars Status of “local representative office with discussion desk” openings (April 2023～) • Establishment of ‘local representative offices with discussion desk’ with dedicated consultants stationed to enable a swift response to address the challenges faced by business owners nationwide. • Opened in four prefectures: Niigata, Miyagi, Ibaraki, and Shizuoka Opened the Ibaraki Satellite Office (Septemeber 2025) • Having received a large number of consultations since the establishment of ’local representative offices with discussion desk’ in Ibaraki (April 2024), a satellite office was established to strengthen support system. ▲ Billboard advertisements at Hiroshima Airport Community-based initiatives
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 32 Providing safe and secure M&A services to deliver the best M&A to as many companies as possible Branding Recognized by Guinness World Records for 5 consecutive years Best-selling mergers and acquisitions advisory company in 2024 Record this year * Number of transactions as the sum of number of completed sell-side and buy-side transactions 783 1,013 989 1,067 1,088 0 300 600 900 1,200 2020 2021 2022 2023 2024 (No. of transactions closed) Number of transactions closed* 1,088 transactions in 2024 (Year of record: Jan 2024 – Dec 2024) ▲ Naoki Takeuchi, President and Representative Director, Nihon M&A Center
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 33 Continuing to strengthen communication on growth strategies and foundations for value creation Sustainability Preparing the Integrated Report 2025 Scheduled for simultaneous release of the Japanese and English editions (in early November 2025) Integrated Report 2025 The full version of the Integrated Report is available on our corporate website Cover Roundtable Discussion with Independent Directors Message from Top Management Dialogue with Stakeholders
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Industry Trends
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 35 Source: “Disclosure of registered financial advisors and intermediaries providing institutional support for M&A” (registered as of Oct 202５) （ https://www.chusho.meti.go.jp/zaimu/shoukei/2025/251020m_and_a02.pdf ） Within the total 86.5% have 4 or less specialist M&A support staff 58.1% founded after 2020 Industry Trends – External Landscape Improvement required to service quality and ethical standards of the industry Buyer takes cash out of target company Personal guarantee of target company owner not released Problems Number of companies providing M&A support （as of 20 Oct 2025） Reporting of problems in the industry with inappropriate buyers M&A specialist companies – intermediaries About 70 ０ Companies providing M&A support 3,046 Growth in new market entrants (Starting around May 2024)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 36 1. Intermediaries, financial advisor fees and scope Practical explanation of fees and each process of the scope 2. Specification of what is not permitted in advertising and sales activity ・ Prohibition of advertising and sales to uninterested parties ・ Prohibition of any misleading advertising or sales activity 3. Specification of prohibited areas of conflict of interest ・ Preferential treatment for customers paying additional frees or with repeat business prohibited ・ Clarification of disallowed disclosure of information 4. Rules for name clearance and contract term ・ Obtaining consent to disclose name of seller ・ Necessity of buyer confidentiality agreement 5. Risks for parties following definitive agreement Specific explanation of possible problematic areas to all parties 6. Treatment of seller warranties ・ Discussion with specialist or partner financial institution prior to finalising M&A contract ・ Incorporating seller warranties into the definitive agreement 7. Exclusion of inappropriate parties ・ Research the buyer ・ Importance of creating mechanism for information sharing among industry participants Industry Trends - Response by SME Agency (１) “SME M&A guidelines” 2nd revised edition Added content including fee transparency and policy for inappropriate buyers Creating an environment to be able to select high quality intermediaries, meeting demands for higher standards Summary of revisions (for intermediary parties) (30 Aug 202４) Sources: Document outlining ”Revised SME M&A guidelines”, 3rd edition （Small and Medium Enterprise Agency) （https://www.meti.go.jp/press/2024/08/20240830002/20240830002-a.pdf）
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 37 Industry Trends - Response by SME Agency (2) “Skill map for SME M&A Specialists (Individuals)” Our personnel have cleared the majority of levels, including PMI and written risk explanations ⇒ We will lead the industry in skills Source：SME Agency. Extract from " Skill map for SME M&A Specialists (Individuals) on the mission, 'Ethics and Code of Conduct, and knowledge" Features and Background In order to improve the quality of private sector M&A specialized human resources, SME Agency have systematically organized and announced the skills related to the broad domain of M&A, often referred to as ｍixed martial arts, into a three-tier structure of 'Mission,' 'Ethics and Code of Conduct,' and 'Knowledge and Skills. Visualization of detailed and extensive knowledge and skills over a total of 190 pages The M&A process is divided into eight processes from pre-consultation to post-closing (PMI), and the objectives and business contents of each process are defined The agency aims to increase the number of companies and individuals engaged in M&A in the private sector who have extensive experience and skills and can provide high-quality support Consultation Valuation Matching PMI Necessary knowledge & skills related to entire M&A process Legal knowledge Tax knowledge Communication skills Business -related skills Information management M&A Practice Business understanding Accounting knowledge Closing transaction Definitive agreementDD Basic Agreement (LOI) knowledge skills (Released in April 2025)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 38 Industry Trends - Response by Self-Regulatory Body * The kind of buyer who might behave in ways that could be considered illegal in M&A (eg transfer of seller funds into a personal account after the M&A transaction has completed) or in other ways operate the company differently from what was agreed in the SPA at thetime of the acquisition (eg disregard release clauses for a seller’s personal guarantees) Measures for speedy action to improve the health of the industry through areas such as higher quality of M&A support and trouble prevention Strengthened measures against inappropriate buyer * 207 companies joined (as of Sept. 2025). We are listed as a founder member Change of structure. Creation of Qualification system committee and Self governance evaluation committee (commenced January 2025) Engaged practitioners and specialists for appropriate revisions to self governance rules for the industry (advertising, sales, compliance, explanation of important points in contracts) first published in December 2023 Revisions to inappropriate buyer* disclosure in “List of named buyers” for the industry (effective from October 2024) Much stricter in content in order to prevent inappropriate M&A transactions. Major financial institutions also began using and viewing the list Published a stock transfer agreement (sample agreement) to promote proper contract terms. Conducting training to prevent damage caused by inappropriate buyers Working to eliminate disparities in contract content and quality among M&A advisors institutions and enhance overall service standards across the industry M&A Advisors Association (self regulatory body)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 39 Release of personal guarantees Definitive agreement Letter of intent Internal review Confidentiality agreement Completion Industry Trends – Our Response（１） Eliminate inappropriate M&A involving buyers who lack financial resources or correct knowledge Measures to prevent M&A problems ① Further strengthening of process for checking risks during the M&A process Checkpoint 1 Criminal record Checkpoint 2 Financial capacity of buyer Checkpoint 3 Suitability of scheme ② Client satisfaction surveys after M&A to understand any problems that there may have been with our service ③ Draw attention to our client hotline service (for discussion of complaints or problems) in all our marketing materials ④ Making calls to the owner of seller after completion of transaction to confirm the cancellation of management guarantees and personal guarantees Checkpoint 1 Checkpoint 2 Checkpoint 3 What we do Internal review Legal review meeting① （at time of letter of intent） Legal review meeting② （at time of definitive agreement） Monitor post-merger integration progress Checkpoint １,2 Checkpoint 2,3 Checkpoint 2,3 Checkpoint 2 • When risks are identified the way to handle the mandate is discussed and closely monitored throughout the process • When appropriate the consultant is tasked with giving the client a detailed briefing on risks or a revision to the proposed scheme Intermediary advisory agreement
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 40 Collaboration agreement with Kobe University Graduate School of Business Administration Establishment of Small and Medium Sized M&A Research and Education Centre (MAREC) Collaboration agreement with Graduate School of Management, Kyoto University, Hitotsubashi University Graduate School of Law Sponsorship of lectures at universities (Waseda University school of Commerce etc.) M&A research group （formed in April 2025） member, our CEO Suguru Miyake a deputy director Academic, industry & government collaboration – Our Response （２） To assist the healthy development of the industry and improve standards Further strengthening of academic, industry and government collaboration ▲ Shin Yokoi, CPAO, Office for promotion of M&A research with academic, industry & government collaboration CPAO … Chief Public Affairs Officer Helping to improve industry standards and make them fair Appointment of Shin Yokoi, Nihon M&A Centre Inc. Executive Officer, General Manager of Legal DepartmentStrengthening academic, industry and government collaboration The start pf a new chapter, establishing industry standards for SME M&A New PR role - CPAO Methods to promote academic, industry and government collaboration Collaborating with government agencies to support SME policies Participating as executive member Government authorities Academia M&A Advisors Association Office for promotion of M&A research with academic, industry & government collaboration CPAO
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 41 Industry Trends – Our Response （３） While M&A has become common, direct marketing towards small and medium-sized business owners has intensified M&A support companies are subject to comparative selections due to changes in the market environment By connecting companies with high motivation, the contract success rate increases Reduce the risk of information leakage Receipt of initial payment・ Exclusivity agreement Matching that connects the aspirations of both companies Thorough corporate valuation Safe and secure M&A realized with our experts Matching derived from the largest number of consultants in the industry, a nationwide network, and a track record of over 10,000 successful transactions Corporate evaluation based on a track record of over 18,000 cases Creation of a company profile that maximizes the attractiveness of the selling company Experts in professional fields familiar with SME M&A form support teams for each project Best M&A＝Best completed mandate × Best success Our company’s belief Our vision of the best M&A Four reasons for achieving the best completed mandate Companies are places for owners, employees and families to form lasting bonds
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 42 Our Brand Movie 「Support that 'feeling' more than anyone else 」 This depicts how the consultants of Nihon M&A Center support the struggles of transfer owners. Please take a look. Industry Trends – Our Response （4） Five supports to lead you from Completed mandate to Success Examples of initiatives to communicate our company’s features to clients The production record of 'The WAY’ has surpassed a total of 100 books For more details about the closing ceremony, please take a look here . A company specialized in PMI support will lead M&A to success. To the Legendary Entrepreneur Japan's First Trouble Prevention Automatic Attachment of Representation and Warranty Insurance Even in the unlikely event of a breach of representations and warranties, we will provide support to maintain a good relationship. Life experiences, thoughts, and the life philosophy cultivated will be documented in a biography until the point of transfer. Supporting Your Second Chapter of Life Next Navi We provide support from asset succession to enjoying the second chapter of life. A memorable Closing Ceremony For the seller’s owner, it marks the culmination of their entrepreneurial journey, while for the buyer, it is a day to celebrate the start, beautifully staged. Synergy Creation PMI The only publicly listed company For more details about our brand, please take a look here.
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Business Environment
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 44 67.2 66.0 65.8 62.3 58.0 54.5 0 10 20 30 40 50 60 70 2018 2019 2020 2021 2022 2023 （Reference） Distribution of the Age of Owners & Ratio of Companies with No Successor The per centage of SME owners aged over 70 shows an upward trend The ratio of companies with no successor is trending down, but still represents a majority （％） 0 5 10 15 20 25 20～24 25～29 30～34 35～39 40～44 45～49 50～54 55～59 60～64 65～69 70～74 75～79 80～ In 2000 In 2005 In 2010 In 2015 In 2020 In 2023 （％） Age distribution of SME owners (in 5-year categories) Ratio of SMEs with no successor Source： Teikoku Data Bank, Ltd. Company outline file revised edition, White Paper on Small and Medium Enterprises in Japan (May 10, 2024) Note １．SME as defined in the Small and Medium-sized Enterprise Basic Act. Company size on basis of Company outline file. 2. The distribution of executive ages is based on small businesses where the ages of the executives are disclosed. 3. Due to limited data availability 2000 figures take January 2001 data, otherwise data is from December in the company outline files. Source: Teikoku Data Bank, Ltd. Company outline file and Corporate Credit Research Bulletin revised editions. 2024 SME White Paper (published 10 May 2024) Note 1. SME as defined in the Small and Medium-sized Enterprise Basic Act. Company size on basis of Company outline file. 2. The figures in the graph above shows the ratio of small businesses, including those without information on executive ages.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 45 61.4 61.5 56.5 54.9 52.4 38.6 38.5 43.5 45.1 47.6 48.5 0 50 100 2019 2020 2021 2022 2023 2024 Profitable In loss （Reference） Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up （％） 51.5% No desire of successor （ 45.2 ％ ） Company has no future （ 22.1 ％ ） Do not have children （ 12.1 ％ ） No desire for child to be successor （ 10.9 ％ ） Could not find suitable successor （ 5.4 ％ ） No prospect for regional development （3.2％） Other （ 1.1 ％ ） Companies closing down due to lack of successor 28.4% In 202４, ６2,695 companies became dormant, closed down or were broken up, a historical high Over half the companies which closed down are profitable The reason for about 30% of companies closing down is the lack of a successor Breakdown according to profit/loss of companies which became dormant, closed down or were broken up Reasons for companies closing down (according to companies planning to close down) Source： Extract from Japan Finance Corporation Research Institute SMEs succession - internet survey in 2023. https://www.jfc.go.jp/n/findings/pdf/sme_findings230323_1.pdf Source： Tokyo Shoko Research, Ltd. Extract from 2024 Survey of trends for companies which have been closed down or broken up. https://www.tsr-net.co.jp/data/detail/1200854_1527.html Note: Based on last published financial results prior to closing down or being broken up
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Potential Market
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 47 80,591 86,174 ＊２ 92,175 94,655 95,234 93,087 92,255 70,000 75,000 80,000 85,000 90,000 95,000 100,000 2021 2022 2025 2030 2035 2040 2045 (no. of companies） Estimated Potential Demand for M&A Related to Business Succession Source: Estimated by Yano Research Institute Ltd. as of November, 2023 ０ Potential demand for M&A of SMEs lacking a successor is forecast to peak in 2035, but still maintain a high annual volume of over 90,000 Projection of potential demand for M&A of SMEs lacking a successor ＊1 （sales over ￥100m, CEO age over 60） *１ Those companies with undermined succession or closure plans are included, except for those that already have a family or employee succession plan and those that are planning for closure or liquidation (The above inclusion assumes that the same percentage as those that have been revealed by business closures, business succession, etc. of potential companies exist) *2 The discrepancy in the potential number of M&A of SMEs lacking a successor (estimated) on the next page is due to differences in categorization and the assumptions at the time of estimation
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 48 *1 Yano Research Institute estimates based on data in “Survey of SME status (2022 edition)” *2 In calculating the estimated number of potential M&A target companies, it has been assumed that those companies with a CEOaged over 60 are considered to aim for business succession, while those with a CEO aged under 60 are not. Because it is an estimate, the number of companies with a CEO aged over 60 may include those companies that do not aim for business succession. Likewise, the number of companies with a CEO under 60 may include those that do aim for business succession. “Non-business succession focus M&A” are classified into industry restructuring and growth strategy types *3 Based on our company’s average historical success fees within each sales size category, multiplied by the number of potential M&A target companies *4 The discrepancy in the potential number of M&A of SMEs lacking a successor (estimated) on the previous page is due to differences in categorization and the assumptions at the time of estimation M&A Potential Market Size The potential market size for M&A of SMEs (sales over ¥100m) in the domestic market is ¥13.5 trillion Source: Estimated by Yano Research Institute Ltd. as of January, 2024 Sales size Number of SMEs*1 Number of potential M&A target companies*2 Potential market size*3Business succession focus （CEO age over 60） Business succession not focus （CEO age under 60） >¥1bn 100,012 13,821 16,758 ¥ 4.0 trillion >¥100m <¥1bn 577,149 79,715 90,724 ¥ 9.5 trillion Total 677,161 93,536 107,482 ¥ 13.5 trillion *4
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Company Overview
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 50 3,655 5,008 6,005 7,214 10,547 12,227 14,778 19,069 24,625 28,463 32,009 34,795 40,401 41,315 44,136 44,077 1,376 2,171 2,834 3,437 5,496 6,310 7,116 9,070 11,670 12,533 14,467 15,468 16,864 15,472 16,518 16,918 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 (¥mn) Consolidated sales Consolidated ordinary profit (Reference) Track record on Sales and Ordinary Profit since FY2009
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 51 Company name Nihon M&A Center Holdings Inc. Established April 1991 *Transition to a holding company structure taken place in October 2021 Business outline Group management function of M&A intermediary service subsidiaries Representative President and Representative Director Suguru Miyake Offices Domestic 7： Overseas 5： Paid-in capital ¥4.0 billion Number of shares issued 336,934,800 (including treasury stocks) Market listing Tokyo Stock Exchange Prime Market Stock code 2127 No. of employees (consolidated) 1,087 （excluding 6 full-time directors) Breakdown of employees by type M&A consultants 640 M&A support/Others 447 Corporate Profile (as of end-Sep 2025) Leading company in M&A intermediary services with a track record of over 10,000 completed transactions Tokyo headquarters, Osaka branch, Nagoya branch, Hiroshima branch, Fukuoka branch, Hokkaidosales office, Okinawa sales office Nihon M&A Center Singapore Pte. Ltd., PT Nihon Mergers And Acquisitions Center Indonesia, Nihon M&A Center, Vietnam co., LTD, Nihon M&A Center Malaysia Sdn. Bhd., Nihon M&A Center (Thailand) Co., LTD
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 52 Corporate History ★ We have been profitable since the second year of our history and have continuously paid a dividend 1991 2000 200２ 2006 2007 2008 201５ 2016 2019 20２１ 2022 2023 2024 2025 Rapid growth period Foundation period IPO period Second foundation period First listing of a company in Japan specializing in M&A intermediary services for SMEs First to list on TSE 1st Section Transferred from TSE Mothers to 1st Section (14 months from listing on TSE Mothers, the fourth fastest such transfer at the time) Honorable Chairman Wakebayashi and President Miyake worked at Olivetti Japan, selling computers nationally to accounting firms and regional financial institutions. The current M&A network has evolved from their network at that time. Establish Office for promotion of M&A research with academic, industry & government collaboration Oversea offices （As of March 2025） ５ locations （Singapore, Malaysia, Vietnam, Thailand, Indonesia） Founded with eminent certified public accountants and tax accountants nationwide at the core. Accounting offices throughout the country were organized into a network of regional M&A centers. Established a nationwide M&A study group with regional banks as members Formed a business alliance with Shinkin Central Bank, followed by Shinkin Capital and shinkin banks throughout Japan. Change of name to “Nihon M&A Center Inc.” Listed on the TSE Mothers Stock Exchange Commenced partnerships with large financial institutions Entry to JPX-Nikkei Index 400 Start first overseas office in Singapore Expansion of services through steady establishment of firms with M&A related activities Start TOKYO PRO Market（TPM） IPO support activities Entry to Nikkei Stock Index 300 Change to a holding company structure with the company name Nihon M&A Center Holdings Inc. 30th anniversary event “M&A Conference 2021” Move to Tokyo Stock Exchange Prime market Creation of new company Purpose Joint ventures with financial institutions Group companies （As of March 2025） 16 subsidiaries, 14 equity method applied affiliate Recognized by Guinness World Records for 5 consecutive years "Best-selling mergers and acquisitions advisory company in 2024" (Year of record: Jan 2024 - Dec 2024)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 53 Business Model Nationwide M&A information network Providing corporates buying or selling with an abundance of information on deals, irrespective of location or sector, harnessing a nationwide network of financial institutions and accountants Network Information Accounting firms … 1,076 firms Regional banks … Collaboration agreement with 95 (out of a total of 97) Shinkin banks … Collaboration agreement with 222 (out of a total of 254) Credit union Large financial institutions … Nomura Securities, Daiwa Securities, MUFG Bank, Mitsubishi UFJ Morgan Stanley Securities, Sumitomo Mitsui Banking Corporation, Okasan Securities, JAPAN POST and JAPAN POST HOLDINGS, Tokai Tokyo Securities, and SBI SECURITIES Direct information Seminars, websites, direct mail Industry Focus Team （medical, nursing care, dispensing pharmacies, IT, logistics, manufacturing, food, etc.） Private equity funds Sellers Buyers M&A advisory companies set up together with regional banks Offering much enhanced local support through closer connection with the regional financial institutions As of end-Sep 2025 NOBUNAGA Succession (Gifu Prefecture, 2023) Kyushu M&A Advisors (Fukuoka Prefecture, 2024) Okigin Success Partners (Okinawa Prefecture, 2025) Information Information Information Information *Listed by the time series of partnership starting
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 54 １ Strong systems for developing valuable information Very strong network for M&A information Regional financial institutions, accountants, large financial institutions, other ２ Powerful matchmaking capability Top in the industry with above 600 well organized specialist M&A consultants Database which has accumulated information for a long period of time Higher success rate of M&A ３ High level of M&A expertise and knowledge of the industry About 40 people with legal, accounting and tax qualifications (lawyers, notaries, certified public accountants, tax accountants) A wealth of in-house expertise, finding M&A solutions in a timely way with M&A processes Integration Several subsidiaries which specialize in all the processes, from company valuation to post-merger integration (PMI) ４ Highly trusted Pioneer in SME M&A with an outstanding track record 34 years of history, over 10,000 successful transactions The Strengths of Nihon M&A Center Never let any competitor catch up Differentiation through service, superiority without competing on price
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 55 Our Workflow as An M&A Intermediary * Proactive Search is a registered trademark (no. 65557253) of Nihon M&A Center Holdings Services provided to sellers Preparation of company overview documents Consultation Signing of advisory agreement Arrangement of support team Services provided to buyers Post-disposal support Production of blind teaser Proposal for potential buyer list Discussion on non-name basis Strategic planning and search for target* Explanation of important contract terms and conditions Signing of confidentiality agreement Review of target company summary information document Explanation of important contract terms and conditions Signing of advisory agreement Implementation support for disclosure Matching Management meeting, site visits Negotiation of price & terms Support for concluding basic agreement (acquisition of exclusive negotiation rights) Negotiation of final terms Signing of definitive agreement, document exchange, settlement Services provided to both parties Provision of materials Valuation Inquiry into acquisition needs Presentation of detailed individual information and Q&A Retainer fee Retainer fee Success fee Success fee Due diligence PMI preparation （discussions ） PMI support Interim fee
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 56 M&A interm ediary Private equity funds Small- scale M&As Media Human resources with digitalizati on skills Market research Company valuation Consultin g services after transactio ns PMI support Becoming An Integrated M&A Company Specialised high quality group companies Japan Investment Fun Jointly established with Development Bank of Japan as a fund which plays roles of social infrastructure for the foundation for SMEs’ growth. J-Search Search fund* to provide solutions regionally for companies with succession and human resource needs. AtoG Capital Operator of problem-solving bridge fund to facilitate successful cross-border M&A, closing governance gaps with companies in the ASEAN region. Japan Private Equity A company operating business succession and restructuring funds for SMEs and MBO (management buyout) funds, which was Jointly funded with the Development Bank of Japan. Search Fund Japan The first Japanese investment company which conducts search fund-based * M&As nationwide. Japan PMI Consulting A consulting firm specializing in post-merger integration (PMI) support, the key to successful M&A. Next Navi A comprehensive consulting firm which was jointly established with Aoyama Zaisan Networks, for business succession, asset management, and life planning. It supports prior owners after M&A. Corporate Value Laboratory A company specializing in company valuation. It estimates and proposes neutral M&A transaction prices. Special People Association Handles BPO business, validation services and development services, became a subsidiary of the Company in October 2020. Yano Research Institute A leading company of market research. Nihon DX HR Center Offering support for digitalization initiatives of SMEs as well as learning contents to develop human resources with digitalization skills. ZUUM-A Running THE OWNER, the media helpful for SME owners. Nihon M&A Center Established in 1991. The top company for closed deals in the M&A intermediary services industry. Batonz Running BATONZ, M&A and business succession support platform utilizing the internet. * Search fund: activities in which individuals who are prospective business owners take the lead in business succession of SMEs and themselves engage in business management.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 57 Nihon M&A Center Inc. Organization Structure （as of Oct 2025） President Chairman （Collaboration with accounting firms ） （Collaboration with regional financial inst. ） （Collaboration with securities companies ） （Collaboration with mega banks ） （Primarily buy-side coverage ） （Primarily sell-side coverage ） （Focus on mid-cap companies ） （Focus on sectors undergoing restructuring ） （Focus on healthcare sector ） （Focus on completion of inactive mandates ） DealManagementDept. HRDept. CorporateAdvisory 1Dept. CorporateAdvisory 2Dept. EastJapanDocumentMgmt.Dept. GeneralAffairsDept. FinanceandAccountingDept. IPOPromotionDept. GrowthStrategyDevelopmentDept. HokkaidoSalesOffice RiskManagementDept. ASEANPromotionDept. BusinessMgmt.Dept. InsideSalesDept. IPOReviewDept. HRStrategyDept. LegalAdvisoryDept. GrowthStrategySupportDept. WestJapanDocumentMgmt.Dept. MegabanksChannel AccountantsChannel RegionalFinancialInst.Channel SecuritiesChannel CorporationsChannel DirectMarketingChannel GrowthStrategyChannel IndustryFocusChannel HealthcareChannel SpecialSituationsChannel PRDept. CorporatePlanningDept. IRDept. BusinessInnovationOffice CEO‘sOffice BusinessControlDiv. BusinessProcessesDepartment RegionalFin.Inst. BusinessPlanningDept. FinancialInstitutions BusinessPlanningDept. ITpromotionDept. DataManagementDept. RealmarketingDept. DigitalmarketingDept. InformationSystemDept. CustomerSatisfactionpromotionDept. Corporate HQMarketing HQ Value Promotion HQ TPMDiv. InternationalDiv. CentreforGrowth StrategyDevelopment FinancialInstitutions BusinessDiv. Sales HQ Audit and Supervisory Committee Board of Directors Shareholders Annual General Meeting Compliance Division Internal Audit Office
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 58 Human Resource Development Plan Achieving early development as well as strengthening the next generation A layered approach for thoroughness We aim to achieve fast results from the training Training Program Structure （excerpt） M&A consultants Corporate Staff Dale Carnegie Training (layer-based） Manager Training （layer-based） General Manager Training （layer-based） Advanced Leader Program (selected) Management All new recruits Executives Coaching （selected） ★ New Employee Training (New Graduates and Mid-Career Hires) Implemented over a period of 1 to 2 months.. The training includes not only basic business etiquette and knowledge of the M&A intermediary services industry but also focuses on compliance education. ★Special training from top management. Offering opportunities to learn practical know-how and develop a client-centric approach through case studies, role-playing, and discussions covering the process from basic agreements to closures Top Consultant Development Program （selected） ★ Young Consultant Training Program （selected） ★ Cross-industry Learning Program for Female Leaders New Leader Program (selected)
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 59 greater efficiency to every component of the M&A process What We Do for Digital Transformation Valuation Advisory agreement Preparation of teaser Management meeting Negotiation Letter of intent Definitive agreement Completion ceremony Matching Case analysis Consultation Creation of potential buyer lists using historic transactions. Increase in efficiency of matching System for producing and monitoring legal agreements and closing package Awareness Lead creation DigitalisationUtilising media & digital communication Through greater efficiency of the M&A process increase in speed and higher yield Awareness Lead creation Seminars DM Introductions Collaborations Email circulars Radio TV/CM Targeting greater mind share Newspapers, magazines YouTube WEB Social media Website Information on projects, Owned media, “THE OWNER” Private company valuation system, now also adopted by regional banks and accountancy firms with which we are closely allied Provisional due diligence system. Automated risk identification and highlighting of red flags for a speedier process System for producing a package of all the necessary documents for the share sale agreement and execution Project Diagnosis System
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 60 Average： 3９ employees, Median: 1６ employeesAverage： ¥９３４mn, Median： ¥3２４mn Transactions closed in FY2024 What size sellers does Nihon M&A Center support ？ Sales in a seller (¥mn) Number of employees in a seller 90% is composed of companies with sales of 2 billion yen or less. We offer different services according to a company’s size. The focus is on M&A support for small- and medium-sized companies. There are numerous potential clients. 100 or less 1 １ . ９ ％ More than 100 to 200 ２０ . ６ ％ More than 200 to 300 1 ４ . ５ ％ More than 300 to 400 12. ２ ％ More than 400 to 500 ７ .4 ％ More than 500 to 700 ９ .3 ％ More than 700 to 1,000 7. ６ ％ More than 1,000 to 2,000 9. ８ ％ More than 2,000 6. ７ ％ More than 10 to 20 employees 23.6 ％ More than 20 to 30 employees 12.4 ％ More than 30 to 50 employees 11.1 ％ More than 50 to 100 employees 11.1 ％ More than 100 employees 6.5 ％ More than 5 to 10 employees 19.5 ％ 5 employees or less 1 ５ .8 ％ Calculated from deals closed in FY202４
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 61 Transactions closed in FY2024 Same sector Different sector Total Same region 9.1 ％ 24.6 ％ 33.7 ％ Different region 22.7 ％ 43.6 ％ 66.3 ％ Total 31.8 ％ 68.2 % 100.0 ％ We achieve optimal matching from our broad geological and sector reach Industries of companies sold Nihon M&A Center matching results Few cases of simple matching from the same region or sector, we put forward combinations which create synergies Regions： Based on prefectures Sectors: Our Internal industry classification is used. (Left graph: 20, Right table: 262). Data in both cases taken from completed transactions in FY2024 Construction 23.4 ％ Metal and plastic related 10.4 ％ Machinery, electronics parts manufacturing and distribution ５ .2 ％ Food industry 7.6 ％ Medical and nursing care 6.5 ％ IT 6.9 ％ Property business 5.0 ％ HR services for corporations 6.1 ％ Land transportation, shipping 4.6 ％ Other 24.3 ％
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 62 Number of Transactions Closed in Q2 (1/2) 141 transactions closed, 276 by number of companies Selling company Acquiring company Industry classification Region Industry classification Region 1 Nursing and welfare Kyushu, Okinawa Building construction Kyushu, Okinawa 2 Civil engineering contractor Kyushu, Okinawa Civil engineering contractor Tokai, Hokuriku 3 Building construction Hokkaido, Tohoku Building construction Hokkaido, Tohoku 4 Pipe contractor Kyushu, Okinawa Pipe contractor Kyushu, Okinawa 5 Plant engineering Kanto Plant engineering Kansai 6 Plant engineering Tokai, Hokuriku Plant engineering Kansai 7 Food wholesale Koshinetsu Lifting and demolition work Koshinetsu 8 Other construction works Tokai, Hokuriku Private equity fund Kanto 9 Interior finish work Kanto Construction rental / leasing Kanto 10 Electrical and telecoms contractor Hokkaido, Tohoku Other construction works Kanto 11 Architect Kansai Architect Kansai 12 Electric components manufacture Koshinetsu Construction materials wholesale Kansai 13 Energy Tokai, Hokuriku Energy Kanto 14 Hospital Kanto Hospital Kanto 15 Clinic Kansai Hospital Hokkaido, Tohoku 16 Hospital Hokkaido, Tohoku Hospital Hokkaido, Tohoku 17 Truck transportation Kyushu, Okinawa fishery Kyushu, Okinawa 18 Apparel design / retail Chugoku, Shikoku Apparel business Chugoku, Shikoku 19 Mold manufacturing Tokai, Hokuriku Metals parts processing Overseas 20Furniture / furniture interior manufacturing Kanto Resin parts processing Tokai, Hokuriku 21 Industrial machinery manufacture Hokkaido, Tohoku Machine repair / maintenance Tokai, Hokuriku 22 Private equity fund Kanto Chemicals wholesale Kanto 23 Customised software development Tokai, Hokuriku Customised software development Kanto 24 Security firm Kanto Security firm Kanto 25 Nursing and welfare Kanto Private equity fund Kanto 26 Beauty salon Kanto Beauty salon Kanto 27 Truck transportation Kanto Private equity fund Kanto 28 Restaurants Koshinetsu Others Tokai, Hokuriku 29 Mold manufacturing Tokai, Hokuriku Others Tokai, Hokuriku 30 Building construction Kyushu, Okinawa Building construction Kyushu, Okinawa 31 Steel processing Chugoku, Shikoku Building construction Chugoku, Shikoku 32 Hotels Kanto Industrial waste management Kanto 33 Energy Kanto Energy Tokai, Hokuriku Selling company Acquiring company Industry classification Region Industry classification Region 34 Exterior finish work Kanto Building maintenance Tokai, Hokuriku 35 Property management / sale Kyushu, Okinawa Property business Kansai 36 Clinic Koshinetsu Clinic Kanto 37 Clinic Kansai Clinic Kansai 38 Nursing and welfare Chugoku, Shikoku Nursing and welfare Chugoku, Shikoku 39 Food wholesale Overseas Food wholesale Kansai 40 Food wholesale Kansai Food wholesale Kyushu, Okinawa 41 Metals parts processing Chugoku, Shikoku Mold manufacturing Kansai 42 Mold manufacturing Tokai, Hokuriku Mold manufacturing Tokai, Hokuriku 43 Truck transportation Chugoku, Shikoku Truck transportation Chugoku, Shikoku 44 Resin parts processing Kansai Sales promotion Kansai 45 Leisure goods retail Chugoku, Shikoku Machinery equipment retail Chugoku, Shikoku 46 Interior finish work Tokai, Hokuriku Others Tokai, Hokuriku 47 Beauty salon Hokkaido, Tohoku Sales promotion Kanto 48 Civil engineering contractor Hokkaido, Tohoku Building construction Kyushu, Okinawa 49 Civil engineering contractor Tokai, Hokuriku Building construction Tokai, Hokuriku 50 Geological survey Chugoku, Shikoku Building construction Chugoku, Shikoku 51 Civil engineering contractor Tokai, Hokuriku Civil engineering contractor Kansai 52 Geological survey Chugoku, Shikoku Pavement work Kyushu, Okinawa 53 Electrical and telecoms contractor Tokai, Hokuriku Electrical and telecoms contractor Kansai 54 Pipe contractor Hokkaido, Tohoku Electrical and telecoms contractor Kanto 55 Automotive retail Tokai, Hokuriku Plant engineering Tokai, Hokuriku 56 Plant engineering Kyushu, Okinawa Plant engineering Kyushu, Okinawa 57 Hotels Tokai, Hokuriku Plant engineering Tokai, Hokuriku 58 Building construction Kanto Interior finish work Tokai, Hokuriku 59 Interior finish work Kanto Interior finish work Kanto 60 Exterior finish work Kanto Exterior finish work Kanto 61 Steel processing Koshinetsu Steel processing Kanto 62 Ceramic, stone and clay products Koshinetsu Ceramic, stone and clay products Kyushu, Okinawa 63 Architect Kanto Architect Kyushu, Okinawa 64 Construction materials wholesale Hokkaido, Tohoku Construction materials wholesale Hokkaido, Tohoku 65 Lifting and demolition work Kanto Construction materials wholesale Kanto 66 Steel processing Hokkaido, Tohoku Construction materials wholesale Hokkaido, Tohoku
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 63 Number of Transactions Closed in Q2 (2/2) Selling company Acquiring company Industry classification Region Industry classification Region 105Household goods retail Kansai Convenience goods manufacture / wholesale Kanto 106 Truck transportation Chugoku, Shikoku Daily goods manufacturing Kanto 107 Daily goods manufacture / wholesale Kanto Daily goods manufacture / wholesale Tokai, Hokuriku 108 Pharmacy / drugstore Kanto Pharmacy / drugstore Kanto 109 Pharmacy / drugstore Hokkaido, Tohoku Pharmacy / drugstore Hokkaido, Tohoku 110 Truck transportation Tokai, Hokuriku Truck transportation Tokai, Hokuriku 111 Taxi Kanto Taxi Tokai, Hokuriku 112 Warehousing Overseas Warehousing Kansai 113 Manpower dispatching Kyushu, Okinawa Customised software development Kyushu, Okinawa 114 Customised software development Tokai, Hokuriku Customised software development Koshinetsu 115 Sales promotion Kanto Customised software development Kanto 116 Customised software development Kanto Proprietary software development Kanto 117 Sales promotion Kanto Proprietary software development Hokkaido, Tohoku 118 Customised software development Kanto IT related business Kanto 119 Sales promotion Kyushu, Okinawa Printing Kyushu, Okinawa 120 Sales promotion Tokai, Hokuriku Sales promotion Kanto 121 Services for corporate customers Kanto Accounting firm Kanto 122 Medical related services Kanto Private equity fund Kanto 123 Other machinery manufacture Kyushu, Okinawa Private equity fund Kanto 124 Education Kanto Private equity fund Kanto 125 Apparel design / retail Kanto Private equity fund Kanto 126Apparel manufacturing and sewing Kansai Private equity fund Kanto 127 IT related business Kansai Private equity fund Kanto 128 Hotels Kyushu, Okinawa Hotels Kyushu, Okinawa 129 Hotels Tokai, Hokuriku Hotels Kanto 130Property management / sale Kansai Hotels Kanto 131 Food manufacture Hokkaido, Tohoku Hotels Hokkaido, Tohoku 132 Education Kanto Hotels Kanto 133 Apparel design / retail Chugoku, Shikoku Sport Kansai 134 Entertainment Chugoku, Shikoku Entertainment Chugoku, Shikoku 135 Services for corporate customers Kanto Automotive retail Kansai 136 Transportation related services Tokai, Hokuriku Automotive retail Kansai 137 Packaging materials wholesale Kanto Other retails Tokai, Hokuriku 138 Beauty salon Kyushu, Okinawa Beauty salon Kanto 139 Services for corporate customers Kanto Beauty salon Kanto 140Apparel design / retail Kansai Life related services Kansai 141 Funeral services Hokkaido, Tohoku Private equity fund Kanto Selling company Acquiring company Industry classification Region Industry classification Region 67 Industrial waste management Tokai, Hokuriku Industrial waste management Kanto 68 Industrial waste management Kanto Industrial waste management Kanto 69 Lifting and demolition work Chugoku, Shikoku Industrial waste management Kyushu, Okinawa 70 Architect Kanto Recycling business Kanto 71 Electrical and telecoms contractor Hokkaido, Tohoku Energy Kanto 72 Automotive retail Tokai, Hokuriku Energy Tokai, Hokuriku 73 Resin parts processing Kanto Property development / sales Kanto 74 Clinic Hokkaido, Tohoku Property development / sales Hokkaido, Tohoku 75 Building construction Chugoku, Shikoku Property development / sales Chugoku, Shikoku 76 Building construction Hokkaido, Tohoku Property management / sale Hokkaido, Tohoku 77 Building maintenance Tokai, Hokuriku Building maintenance Kanto 78 Building maintenance Kanto Building maintenance Tokai, Hokuriku 79 Printing Kansai Nursing and welfare Kansai 80 Clinic Kanto Industrial machinery wholesale Kanto 81 Clinic Kanto Medical related services Kanto 82 Industrial machinery wholesale Chugoku, Shikoku Medical related services Chugoku, Shikoku 83 Restaurants Kanto fishery Kanto 84 Food wholesale Kansai Food manufacture Kanto 85 Food manufacture Kanto Food manufacture Kansai 86 Restaurants Kanto Food wholesale Kanto 87 Restaurants Chugoku, Shikoku Restaurants Kansai 88 Restaurants Koshinetsu Restaurants Chugoku, Shikoku 89 Apparel design / retail Kanto Apparel design / retail Kansai 90 Metals parts processing Kansai Metals parts processing Kansai 91 Metals parts processing Kanto Metals parts processing Kanto 92 Metals parts processing Overseas Metals parts processing Kansai 93 Metals parts processing Kanto Metals parts processing Kansai 94 Metals parts processing Kansai Metals parts processing Kansai 95 Mold manufacturing Tokai, Hokuriku Metals parts processing Tokai, Hokuriku 96 Can manufacture / sheet metal Koshinetsu Can manufacture / sheet metal Chugoku, Shikoku 97 Can manufacture / sheet metal Tokai, Hokuriku Resin parts processing Tokai, Hokuriku 98 Mold manufacturing Hokkaido, Tohoku Resin parts processing Kansai 99 Industrial machinery manufacture Kanto Resin parts processing Tokai, Hokuriku 100 Web media Kanto Metal parts wholesale Kanto 101 Steel processing Chugoku, Shikoku Metal parts wholesale Chugoku, Shikoku 102 Industrial machinery wholesale Kansai Metal parts wholesale Kansai 103 Electric components manufacture Tokai, Hokuriku Industrial machinery manufacture Tokai, Hokuriku 104 Electric components manufacture Kyushu, Okinawa Electric components manufacture Kanto
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 64 Sustainability Initiatives Sustainability initiatives│ https://www.nihon-ma.co.jp/en/sustainability/ (Reference)Sustainability initiatives We have compiled our Group's response to climate change and ESG data on our website. 2024 MSCI ESG Rating Raised to A Global ESG investment index created by the US company MSCI (Morgan Stanley Capital International) 7 ratings (CCC – AAA) awarded based on analysis of specific ESG criteria for each sector, the strength of approaches taken by individual companies and their risk management Includes about 10,000 companies globally, researched using publicly available sources such as annual reports and integrated reports Year 2019 2020 2021-2０23 ２０２４ Score B BB BBB A Nihon M&A Center Holdings Starts Climate-related Information Disclosure Based on TCFD Recommendations We announced endorsement of the recommendations of TCFD, and started disclosing relevant information from 2025, which aim at strengthening the disclosure of climate-related information The Sustainability Promotion Committee was newly established to upgrade our internal response systems Supporting the active participation of female consultants We are strengthening recruitment and supports of female M&A consultants, to achieve sustainable growth and become the best place to work for diverse talents. Conducted a training specialized for female consultants with ▲ aim of networking and identifying challenges Nihon M&A Center CEO Naoki Takeuchi also gave talks ▲ Commencement of talks nationwide at schools Initiatives to broaden the base of M&A. Themed “How does M&A link companies and protect local economies?” – explaining the importance of ownership succession and the attractiveness of a career in consulting.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 65 Our M&A intermediary activities provide economic benefits Enabling the continual growth of society through sustaining and increasing employment Source：Estimated by Yano Research Institute Ltd. as of May, 2025 FY2024 Basic information Preventive effects on economic losses and job losses 1 2 Preventive effects on economic losses Number of M&A contracts 493 Preventive effects on economic losses ¥ 675.8 billion Preventive effects on economic losses for the next decade ¥ 5.0752 trillion3 Total revenues for the companies involved in the aforementioned M&A contracts ¥ 3６７.２ billion Preventive effects on job losses 52,240
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Nihon M&A Center Holdings Philosophy 1. Utmost respect for our clients 2. High viewpoint, broad field of view 3. Challenge without fear of mistake 4. Swing the pendulum in full 5. Best decisions upon free and open discussion 6. Never give up until the result is achieved 7. Be humble, learn and grow 8. The right things in the right way MA★PY, the bluebird of happiness, is the symbol of Nihon M&A Center Group, connecting people’s hopes and delivering the best M&A.
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Copyright©2025 Nihon M&A Center Holdings Inc. All rights reserved. 67 Top market capitalisation in the M&A sector Market capitalisation Motivation, personal development, remuneration Employee satisfaction Integrated solutions Providing a full range of services, including PMI, strategic, financial and HR planning, as well as every kind of related activity Expanding operations from very small customers to large ones (in different space from investment banks) increasing our global presence Broad coverage To Become the Top Global Integrated M&A Company Eight leading qualities related to M&A that our group is aiming to achieve Number of mandated projects, number of transactions closed Number of transactions closed Valuation, execution Quality control Creating new industry standards for M&A Innovation Optimal matching and post-merger integration Customer satisfaction ◆Recognized by Guinness World Records® for 4 consecutive years ◆ Best-selling mergers and acquisitions advisory company(Year of record: Jan 2023 – Dec 2023) *Our aim is not to gain top rankings in league tables or among investment banks – it is to become the top global integrated company by achieving the eight qualities described above.
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最後に日本M&AセンターHDのフィロソフィー Corporate ethos Assisting companies to continue and prosper through M&A Corporate Purpose To connect hopes and dreams for the best M&A experience in Japan and then the world To investors Increase market value We aim to increase market value through high profitability and growth Increase in market value together with stability and growth in dividends Return profits to shareholders Contact ： https://www.nihon-ma.co.jp/contact/ IR page URL ： https://www.nihon-ma.co.jp/groups/ir/ English website URL ： https://www.nihon-ma.co.jp/en/ir/