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To bring best-in-class M&A ever closer – today and beyond. 35th anniversary of our founding Nihon M&A Center Group Assisting companies to continue and prosper through M&A TSE code ２１２７ IRReport Financial Results Report for Q2 FY2026 Year to March 2027 30 October 2026 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 Our Re-Growth Strategy P2 Issue concerning interim dividends in prior fiscal years P3～４ Shareholder Return Contribution (Dividend Policy) P５ H1 FY2026 Results Review P６～1６ Summary of H1 FY2026 Results P７～８ H1 FY2026 P/L P９～１０ P/L Summary P１１ Summary of Q2 (Jul – Sep) FY2026 Results P12 Latest Leading Indicators in line with M&A Mandate Flow P1３ Record of Transactions Closed, M&A Sales, New Mandates P1４ B/S Summary P１５ Number of Employees P1６ Features P１７～２５ 35th Anniversary Special Project P１８～１９ Acquisition of an AI specialist firm P20 Active in digital transformation and adoption of AI (data-driven management) P２１ Marketing P２２～２４ Branding P２５ Related Activities P２6～3４ Update on Related Activities P27 TOKYO PRO Market (TPM) IPO support activities P28 PMI Consulting business P29 (Reference) PMI-related Initiatives P３０ Overseas Activities P3１～3２ Fund business P3３～3４ FY2026 Forecast and Mid-term Management Plan P３５～４２ FY2026 Forecast P３６ Mid-term Management Plan P３７ Next Genesis (Vision 300) P３８～４２ ROE and Shareholder Breakdown P４３～４5 ROE trend P４４ Share Ownership and Market Capitalization P４５ Industry Trends P4６～5５ Industry Trends – External Landscape P4７ Industry Trends – Response by SME Agency P4８～５０ Industry Trends – Response by Self-Regulatory Body P５１ Industry Trends – Our Response P５２～5５ Business Environment P5６～5８ （Reference） Distribution of the Age of Owners & Ratio of Companies with No Successor P5７ （Reference） Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up P5８ Potential Market P５９～６１ Estimated Potential Demand for M&A Related to Business Succession P６０ M&A Potential Market Size P６１ Company Overview P６２～７８ (Reference) Track record on Sales and Ordinary Profit since FY2009 P６３ Corporate Profile P6４ Corporate History P6５ Business Model Nationwide M&A information network P6６ The Strengths of Nihon M&A Center P6７ Our Workflow as An M&A Intermediary P6８ Becoming An Integrated M&A Company Specialized high quality group companies P6９ Nihon M&A Center Inc. Organization Structure P７０ Human Resource Development Plan P７１ What We Do for Digital Transformation P７２ Transactions closed in FY2025 P７３～7４ Sustainability Initiatives P７５～7６ Sustainability P7７ Our M&A intermediary activities provide economic benefits P7８ Transactions Closed in Q２ P7９～８１ Corporate Ethos, Purpose and Core Value P82～83
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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 To bring best - in - class M&A e ver closer.
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 2 20/3期 21/3期 22/3期 23/3期 24/3期 25/3期 26/3期 27/3期 28/3期 144 154 168 154 165 169 191 193 200 300 Our Re-Growth Strategy 230 220 210 200 190 180 170 160 150 140 Ordinary Profit （¥00mn） 承 Inappropriate accounting incident Introduction Development Change Conclusion Compliance- focused management Fostering unity Strengthen- ing the foundation of the sales structure A return to our original performance achievement cycle Record-high leading indicators Record-high sales and ordinary profit Restoration of strong management systems Fresh growth ・・・ FY2032 （target） FY2019 (results) <Key initiatives toward our second founding> Introduction of stock compensation (stock delivery trust) plans Headquarters expansion and relocation Redesigning our mission framework: establishing our vision and core values Fourth Mid-term Management Plan Second Founding Next GENESIS Vision ３００ （See page 38 for details） FY2020 (results) FY2021 (results) FY2022 (results) FY2023 (results) FY2024 (results) FY2025 (results) FY2026 (target) FY2027 (target) FY2026 （target）
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 3 Issue concerning interim dividends in prior fiscal years Apology to our shareholders and investors It has come to light that certain interim dividends paid in prior fiscal years exceeded the distributable amount, and we offer our deepest apologies to our shareholders, investors, and all other stakeholders for the significant concern and inconvenience this has caused. Please refer to the release dated 30 Oct, 2026 for further details regarding this matter. Notice Regarding Receipt of the Investigation Report from the Special Investigation Committee and Future Actions
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 4 Issue concerning interim dividends in prior fiscal years Deficiencies in the distributable amount verification process resulted in certain interim dividends exceeding the limit permitted under the Companies Act Established a Third-Party Investigation Committee to ensure objectivity and transparency and investigated the causes and circumstances of the matter No intentional misconduct or wrongdoing was identified; process deficiencies were the primary cause The Committee confirmed that the dividends could have been paid within the distributable amount had provisional financial statements been properly prepared and approved Facts and Investigation Findings We will steadily implement our recurrence prevention measures and further strengthen corporate governance to restore stakeholder trust Recurrence Prevention Measures Clarify the process for calculating, confirming, and verifying the distributable amount Strengthen the review and oversight functions of the Board of Directors and the Audit and Supervisory Committee Establish a verification framework utilizing external experts and conduct training for directors, officers and employees Shareholder Matters and Financial Impact No plans to request shareholders to return the relevant dividends paid The impact on consolidated financial results/forecasts is limited No material impact on future business operations and shareholder return policy Voluntary Return of Directors' Compensation To clarify management accountability for this matter, the incumbent directors, including the President and Representative Director as well as the Senior Vice President and Director, offered to voluntarily return 10% to 30% of their monthly compensation for one to three months, depending on their respective responsibilities. The Board of Directors accepted these offers on October 21, 2026
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 5 Shareholder Return Contribution (Dividend Policy) ＊1 Approved at the Annual General Meeting held on June 25, 2026 ＊2 Adjusted for two-for-one share splits on 1 Apr 2021 Plan to maintain a ¥29 dividend per share, including a ¥4 special dividend Shareholder Return Dividend per share Pay-out ratio FY2025*1 ¥29 73.7% FY2026 forecast ¥２９ 71.3% Dividends and pay-out ratio*2 0 30 60 90 0 5 10 15 20 25 30 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 （target） Dividends（left axis） Pay-out ration (right axis) Pay-out ratio 52.0% Pay-out ratio 77.3% Pay-out ratio 84.0% Pay-out ratio 69. ６ % Pay-out ratio 73.7% Pay-out ratio 71.3 % Annual dividend amount ¥ 1 ８ Annual dividend amount ¥ ２３ Annual dividend amount ¥ ２ 9 Annual dividend amount ¥ ２３ Annual dividend amount ¥ ２ 9 Annual dividend amount ¥ ２ 9 （ o/w interim: ¥ １４ ） o/w Special dividend ¥3 o/w Special dividend ¥6 o/w Special dividend ¥4 FY2026 (target) “Dividend pay-out ratio of 60% or more” to be continued during mid-term management plan period
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H1 FY2026 Results Review
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 7 Summary of H1 FY2026 Results Sales, the number of transactions closed, and average revenue per M&A transaction were broadly unchanged YoY Growth investment costs resulted in lower profit Results M&A sales / transaction 45.6 ¥mn YoY +2.2% Sales 22,599 ¥mn YoY ＋0.1% Full-year forecast progress 42.8% Number of transactions closed YoY -2.0% Mid-cap transactions closed*2 YoY +15.2% Ordinary Profit 7,884 ¥mn YoY -8.0% Full-year forecast progress 40.9% Although the number of transactions closed recovered in Q2, this was insufficient to offset the slow start in Q1, and the H1 cumulative total was down 2% YoY • As a result, as of the end of September, the number of transactions under negotiation reached a record-high level (see next page) In addition to an increase in mid-cap transactions closed, higher revenue from retainer and interim fees contributed to the increase in average revenue per M&A transaction • Retainer fees: 2,096 ¥mn (YoY: ＋9.4%), interim fees: 2,969 ¥mn (YoY: ＋21.8%) The decline in ordinary profit resulted from upfront investments for future growth, including initiatives marking the 35th anniversary of our founding, investments related to AI and DX, and efforts to strengthen our workforce *１ Counting completed sell-side and buy-side mandates separately *２ Counting completed sell-side and buy-side mandates as one transaction. Transactions with total success fees in excess of 100 ¥mn 53 478 *1
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 8 Summary of H1 FY2026 Leading Indicators Leading indicators remained strong in Q2 Deal pipeline also expanded Leading Indicators o/w Number of mid-cap mandates*1 155 YoY ＋30.3% Number of new sell-side mandates 699 YoY ＋13.5% *1 Mandates with expectation of total success fees in excess of 100 ¥ mn. The foundation for increasing the number of transactions closed from Q3 onward and achieving a strong start to the next fiscal year is being steadily strengthened The number of new sell-side mandates remained at a high level in Q2, as in Q1 • The share of mid-cap mandates*1 increased YoY (prior-year H1: 19% ⇒ current-year H1: 22%) • The share of mandates from referrals by alliance partners also increased YoY (prior-year H1: 62% ⇒ current-year H1: 67%) The number of transactions under negotiation has increased significantly • As of the end of September, the number of transactions under negotiation increased by approximately 22% YoY to more than 500 deals, a record-high level • Due to delays in deal closings, Q3 is off to a good start (In October, multiple mid-cap deals with total success fees exceeding 500 ¥mn have been closed)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 9 Cause/Results Sales （¥mn） 22,599 +0.1% +12 Despite the 2.0% YoY decline in the number of transactions closed, an increase in M&A sales per transaction (up 2.2% YoY) kept sales in line with the prior-year level Number of transactions closed （by no. of companies） 478 -2.0% -10 Due to delays in deal closings and other factors, as of the end of September, the number of transactions under negotiation stood at more than 500 deals and reached a new record high M&A sales / transaction （¥mn） 45.6 +2.2% ＋1.0 As a result of initiatives targeting mid-cap companies, M&A sales per transaction remained at a high level Continued success of the company-wide support framework provided by a specialized team The decrease in the share of small-sized deals also contributed Mid-cap transactions closed* （by no. of deals） 53 +15.2％ ＋7 H1 FY2026 P/L (Revenue) H1 FY2026 results YoY change (%) YoY change (amount) * Transactions with total success fees in excess of 100 ¥mn
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 10 Cause/Results Cost of sales （¥mn） 8,494 -1.2% -106 Personnel costs: 4,763 ¥mn, +3.6％ YoY Referral fess and outsourcing expenses: 2,830 ¥mn, －11.6% YoY • Primarily due to an increase in the share of direct deals (on a deal-value basis), the referral fee- to-sales ratio decreased by 1.7pt YoY （Referral fee-to-sales ratio：14.2% ⇒ 12.5％） SGA expenses （¥mn） 6,208 +11.1% ＋622 Personnel costs: 2,068 ¥mn, －0.4% YoY Commission expenses：559 ¥mn, ＋38.7% YoY IT costs： 598 ¥mn, ＋15.5% YoY （See page 20-21 for explanation for our policies to pursue data-driven management） Advertising expenses: 457 ¥mn, +31.3％ YoY （See pages 22-24 for explanation of our marketing initiatives） Ordinary profit （¥mn） 7,884 -8.0% -686 H1 FY2026 P/L (Expenses and Profit) H1 FY2026 results YoY change (%) YoY change (amount)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 11 P/L Summary (¥mn, ％) H1 FY2026 results YoY H1 FY2025 results FY2026 full-year forecasts Total ％ % Total % Total % Sales 22,599 100.0 0.1 22,587 100.0 52,800 100.0 (o/w M&A sales) 21,810 96.5 0.1 21,780 96.4 Cost of sales 8,494 37.6 -1.2 8,601 38.1 (o/w referral fees and outsourcing expenses) 2,830 12.5 -11.6 3,200 14.2 (o/w personnel and transportation costs) 5,503 24.4 5.4 5,220 23.1 Gross profit 14,105 62.4 0.9 13,986 61.9 SGA expenses 6,208 27.5 11.1 5,586 24.7 Operating profit 7,896 34.9 -6.0 8,399 37.2 19,300 36.6 Non-operating income 137 0.6 -36.5 216 1.0 Non-operating expenses 148 0.7 235.1 44 0.2 Ordinary profit 7,884 34.9 -8.0 8,571 37.9 19,300 36.6 Extraordinary gain 790 3.5 - - - Extraordinary loss 7 0.0 - - - Pretax profit 8,667 38.4 1.1 8,571 37.9 Tax (corporation tax & other) 3,194 14.1 0.5 3,177 14.1 Net profit 5,473 24.2 1.5 5,393 23.9 Profit attributable to parent company 5,305 23.5 -1.9 5,410 24.0 13,400 25.4 * The amount “0” indicates less than ¥1mn, the term “-” indicates that there is no applicable amount
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 12 Summary of Q2 (Jul – Sep) FY2026 Results Q2 results （Jul – Sep) FY2026 FY2025 YoY Sales （¥mn） 13,495 13,569 -0.5% Ordinary profit （¥mn） 5,632 6,037 -6.7% OP margin （％） 41.7 44.5 -2.8pt Transactions closed (Counting sell-side and buy-side mandates separately) 290 276 +5.1% M&A sales/transaction （¥mn） 45.2 47.6 -5.0% Mid-cap transactions* closed (Counting sell-side and buy-side mandates as one transaction) 34 32 +6.3% The number of transactions closed increased to 290 from 188 in Q1 (+54% QoQ) Mid-cap deal closings also increased significantly by approximately 80% QoQ * Transactions with total success fees in excess of 100 ¥mn
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 13 New sell-side mandates*1 Latest Leading Indicators in line with M&A Mandate Flow Completed transaction drivers Productivity drivers Transaction value drivers Comprising*1 204 61.8% of new sell-side mandates Central area companies*４ 79 +29.5% Mid-cap mandates*３ Preparatory period*5 was shortened to about 60 days and remained stable New buy-side mandates*２ New transaction negotiation*6 (sell-side mandate basis) Comprising*1 Preparatory period (days) 1Q 2Q 3Q 4Q FY2024 85 59 59 59 FY2025 57 60 57 60 FY2026 56 61 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. To further improve the success rate of completing transactions, shifted to a mandate acceptance policy focused on deal “quality” from the second half of FY2025 *2 Most mandates with retainer fee. Count each collected contract as one mandate. Excｌudes mandates gained by overseas subsidiaries. In addition, as multiple buy-side mandates may be linked to a single sell -side mandate, trends in the number of new buy-side mandates and trends in the number of new transactions entering negotiations may not be consistent. *3 Mandates with expectation of total success fees in excess of ¥100mn. Includes mandates gained by overseas subsidiaries. Fr om 2Q FY2026 onward, the basis for calculating estimated success fees for domestic deals has been changed from the target company's estimated fair -value total assets to book-value total assets. *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) FY2026, % changes YoY 352 ＋7.6% 400 ＋3.1 % 289 ‐4.0% *6 The number of “new transaction negotiation (sell-side mandate basis)” is a metric that counts unique sell-side mandates. Even when a single sell-side mandate gives rise to negotiations involving multiple buy-side mandates, it is counted as one. Previously, each negotiation was counted separately, but the calculation method has been changed to provide a more meaningful measure of deal progress. (excluding overseas subsidiaries)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 14 Record of Transactions Closed, M&A Sales, New Mandates （Units: no. of transactions, million yen） FY2023 FY2024 FY2025 FY2026 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) *1,5 266 1,146 19１ ２６３ 284 ３４０ 1,078 212 276 322 251 1,061 188 290 Cumulative total for the financial year 496 - １9１ ４５４ 738 1,078 - 212 488 810 1,061 - 188 478 Number of sell-side transactions closed 131 566 ９8 １３２ １４０ 169 539 107 136 161 124 528 94 143 Number of buy-side transactions closed 135 580 ９３ １３１ １4４ 171 539 105 140 161 127 533 94 147 Total number of deals *1,5 136 585 96 1３９ 145 １７４ 554 109 141 164 128 542 95 148 Cumulative total for the financial year 252 - ９６ ２３５ 380 554 - 109 250 414 542 - 95 243 M&A sales*２ 10,63７ 42,659 7,347 10,630 10,８８４ 13,8４７ 42,7０９ 8,652 13,127 14,716 11,992 48,488 8,703 13,106 M&A sales/ transaction*３ 40.0 37.2 38.5 40.4 38.３ 40.7 39.6 40.8 47.6 45.7 47.8 45.7 46.3 45.2 Number of new sell- side mandates *４,5 298 1,192 327 (6) 389 （１１） 338 （８） 378 (9) 1,432 (34) 289 （15） 327 (21) 328 (22) 339 (30) 1,283 （88） 347 (19) 352 (22) Cumulative total for the financial year 578 - 327 (6) 716 (17) 1,054 (25) 1,432 (34) - 289 (15) 616 (36) 944 (58) 1,283 (88) - 347 (19) 699 (41) ＜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 (num ber 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 a s well as transactions closed in overseas subsidiaries.
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 15 B/S Summary （¥mn, ％） End-Sep 2026 % Change End-Mar 2026 Ⅰ Current assets 40,630 66.8 -3,127 43,758 Cash and deposits 39,112 64.3 -1,335 40,447 Accounts receivable 638 1.0 -169 808 Others 879 1.4 -1,622 2,502 Ⅱ Fixed assets 20,229 33.2 -2,234 22,464 Total assets 60,860 100.0 -5,362 66,223 （¥mn, ％） End-Sep 2026 % Change End-Mar 2026 Ⅰ Current liabilities 7,814 12.8 -5,318 13,133 Ⅱ Long-term liabilities 1,767 2.9 -679 2,446 Total liabilities 9,582 15.7 -5,997 15,579 Interest bearing liabilities 2,800 4.6 -1,200 4,000 Net assets 51,278 84.3 635 50,643 Retained earnings 60,865 100.0 658 60,206 Treasury stock -17,830 -29.3 978 -18,808 Total liabilities and net assets 60,860 100.0% -5,362 66,223 Maintaining a healthy balance sheet Asset Liabilities and net assets
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 16 Number of Employees Recruitment, retention, and development of M&A consultants remain a top priority Additionally, to strengthen the training and development framework, beginning this fiscal year, the start date for new hires has been standardized to the first business day of each quarter Number of employees(consolidated) 1,083 1,043 1,086 1,062 1,076 900 1,000 1,100 End of FY2022 End of FY2023 End of FY2024 End of FY2025 End-Sep FY2026 (no. of employees) 0 End of FY2024 End-Sep FY2025 End of FY2025 End-Sep FY2026 M&A consultants ６３０ 640 626 641 （Cost of sales） （SGA expenses） １８５ 166 160 151 ７２ 70 65 47 Corporate １８６ 198 201 228 Financial １３ 13 10 9 Total 1,0８６ 1,087 1,062 1,076 M&A support Cost of sales SGA expe nses M&A consultants joined or accepted offers since October: 56 (Breakdown: 29 Joined on October 1, and 27 Accepted Offers) * As of October 28 * Only people who have accepted job offers and are scheduled to join during the current fiscal year are included in the count
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Features
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 18 35th Anniversary Special Project(1) Held a ceremony marking the 35th anniversary of our founding More than 370 key figures from various sectors attended Background and overview Event overview Date: 13 October, 2026 Event theme: Next GENESIS • A look back at our 35-year history (Presenter: Miyake) • Vision presentation (Presenter: Takeuchi) • Reception, etc. ▲ Miyake and Takeuchi presenting (At Fairmont Tokyo) With the network we have built up over 35 years since our foundation, our second founding, “Next GENESIS,” is now fully underway We looked back on our 35-year history and shared our commitment to our second founding and our vision for the future More than 370 key figures from various sectors attended, including members of the Diet, more than 30 regional bank presidents, and representatives of partner accounting firms and financial institutions Members of the network we have built since our founding came together and shared an appreciation of the value of strong relationships built on trust
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 19 Launch of transit advertisements (Jan 2025～) • Implemented at seven locations where regional bases are located: Tokyo, Osaka, Nagoya, Hiroshima, Fukuoka, Sapporo, and Okinawa • Rolled out at highly visible terminal stations and airports Placement of newspaper advertisements （24 April 2026） • To commemorate our founding day (April 25), full-page advertisements were placed in national and regional newspapers • Publications: Nihon Keizai Shimbun, The Hokkaido Shimbun, The Chunichi Shimbun, The Chugoku Shimbun, The Nishinippon Shimbun, The Okinawa Times, The Ryukyu Shimpo Yoshito Okubo Named 35th Anniversary Ambassador（Jul 2026） • Yoshito Okubo, a former member of Japan’s national soccer team, has been appointed as our 35th Anniversary Ambassador • As part of our 35th anniversary initiatives, we are rolling out communications centered on the theme of “challenge” 35th Anniversary Special Project(2) Rolling Out Various Initiatives Throughout the Year Key initiatives for our 35th Anniversary ▲ Transit advertisements ▲Yoshito Okubo with Takeuchi, President and Representative Director of Nihon M&A Center
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 20 Acquisition of an AI specialist firm Made AI Brain Partners Inc. a subsidiary *1 Strengthening our foundation for AI utilization (conversion into a wholly owned subsidiary planned for November 2) We will work to expand the value we provide by improving productivity within our company and providing clients with support for AI implementation and utilization Overview of AIBP With the mission of “building an organization that can move forward alongside AI, rather than simply adopting it,” AIBP provides services that help companies build in-house AI capabilities and become self-sufficient in using AI AIBP has supported numerous organizations, including major corporations and government agencies, and has also supported our group Future initiatives ▲ At the closing ceremony We have established a CDO (Chief Digital Officer) position to drive company-wide business transformation through AI and DX We will move into the “application” stage for the data assets we have “accumulated” since our founding, and will work to build an organization in which each consultant can collaborate with AI Path to wholly owned subsidiary By using a simplified share exchange*2 to align the interests of AIBP team members with those of our shareholders, we aim to enhance corporate value over the medium to long term *1 Please refer to the release dated July 7 for further details regarding this matter. Notice Concerning the Acquisition of Shares in AI Brain Partners Inc. and Its Conversion into a Wholly Owned Subsidiary Through a Simplified Share Exchange *2 The effective date of the share exchange is scheduled for November 2.
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 21 Active in digital transformation and adoption of AI (data-driven management) Status of database development using the AI-based business interview analysis service “Bring Out” and implementation of “Deal Profiles” NegotiationMatchingPreparatory Phase AI Initiative① AI Initiative② Aim to improve the success rate by using AI to create a “Deal Profile” for each deal Aim to maximize the effectiveness of AI matching through further data accumulation Seller Potential Buyer Interviews based on direct insights from business owners Record Interview Record *1 As of Sep 30, 2026 *2 Jul - Sep 2026 Results Past Deals database development New Deal Information Structuring AI Analysis Consolidation of Key Issues Deal Profile Accumulated information on approx. 3,700 companies*1 Accumulated information on approx. 13,500 companies *1 Generated approx. 13,000 highly compatible matches*2 AI driven automatic deal matching database AI Initiative①AI Initiative② Analysis of conversations using Bring Out (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”) Through AI-driven matching In Q1: First buy-side mandate generated ↓ In Q2: First deal closed
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 22 Marketing Roadshow Currently doing seminar tour in 25 locations nationwide Special features of our nationwide seminar tour Through the seminars we aim to gain new clients and deepen our client relationships Recent examples of talks （Jul – Sep 2026） 23 Jul in Osaka • Mr. Hirokazu Ibata, Manager of Team Japan for the 2026 World Baseball Classic ▲ Mr. Takeshi Okada speaking at the event 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 →Increasing and invigorating our seminars 26 Aug in Sapporo • Mr. Takeshi Okada, Chairman and Representative Director, Imabari. Yume Sports Inc. 25 Sep in Miyazaki • Ms. Miho Koga, Professional Golfer
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 23 Regional marketing Strengthening relationships with local customers through the rollout of community-based marketing initiatives Community-based initiatives • Sponsorship of local sports teams • Providing a local radio program sponsored by us Our President and Representative Director, Miyake, shares key insights and practical tips for successful management through conversations with business leaders in Ibaraki Prefecture Examples of community-based marketing measures Please take a look at recordings of our sponsored radio program on our YouTube channel (only in Japanese) Status of “local representative office with discussion desk” openings （Apr 2023～） • Dedicated consultants stationed in each prefecture to enable a swift response to address the challenges faced by business owners nationwide • Currently, we have established in five prefectures: Niigata, Miyagi, Ibaraki, Shizuoka and Yamaguchi • In addition to the above offices, satellite offices have been established at 14 locations (as of Sep 2026) ▲Miyake, President and Representative Director at a radio program recording
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 24 Direct Marketing Established the Regional & Industry Strategy Division this fiscal year Drive new mandate acquisition through regional focus × industry specialization Regional & Industry Strategy Division initiatives Promote consolidation among companies across regions and industries to create “leading regional stores” and “industry flagships” Regional strategy • Leverage networks of leading regional companies and business owners to identify demand for consolidation among companies Industry strategy • Leverage the advanced expertise of industry-specialist teams to strengthen proposal and deal-closing capabilities Region A Region B Region C … IT Information & communications EC Manufacturing Healthcare … Industry specialization Regional focus ... New mandate generation (Illustration) Regional & Industry Strategy Division Tactics: Regional Strategy × Industry Strategy
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 25 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 6 consecutive years Best-selling mergers and acquisitions advisory company in 2025 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 1,150 0 300 600 900 1,200 2020 2021 2022 2023 2024 2025 (No. of transactions closed) Number of transactions closed * 1,150 transactions in 2025 (Year of record: Jan 2025 – Dec 2025) ▲ Naoki Takeuchi, President and Representative Director, Nihon M&A Center
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Related Activities
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 27 Update on Related Activities “Other sales” include 86¥mn in external sales from the fund business, whose segment profit (pretax profit) was 555 ¥mn *1 *2 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 *3 M&A cost of sales consists of referral fees and outsourcing expenses *4 Unallocated cost of sales includes personnel costs, transportation costs, other *5 From Q1 FY26/3, employee classifications have been changed. Gross profit figures for FY25/3 and earlier presented on this page do not reflect the changes in employee classifications. (¥mn) Q2 FY２０２6 Total Ratio to total sales YoY Ｍ＆Ａ sales*2 21,810 100.0% 0.1% M&A cost of sale*3 2,830 13.0% -11.6% M&A gross profit ① 18,979 87.0% 2.2% Other sales*2 789 100.0% -2.2% Other cost of sales 160 20.3% -11.2% Other gross profit ② 629 79.7% 0.4% Unallocated cost of sale③*4 5,503 24.4% 5.4% Gross profit （①+②-③） 14,105 62.4% 0.9% FY2025 FY2024 FY2023 Total YoY Total YoY Total YoY 48,488 13.5% 42,709 -0.2% 42,788 7.5% 6,557 21.8% 5,384 -10.9% 6,043 17.9% 41,931 12.3% 37,325 1.6% 36,745 6.0% 1,768 29.2% 1,368 1.5% 1,348 -11.9% 447 54.5% 289 -26.0% 391 15.9% 1,320 22.5% 1,078 12.8% 956 -19.8% 12,973 -4.8% 13,624 4.3% 13,065 5.9% 30,277 22.2% 24,779 0.6% 24,636 4.8% Q2 FY２０２5 Total YoY 8,652 17.8% 1,169 17.6% 7,483 17.8% 366 25.6% 87 11.9% 279 30.6% 2,380 -14.7% 5,381 42.6% Fisrt Half comparison YoY comparison *5 * 1 In Q1, a gain on the sale of an investment in the fund business was recorded as extraordinary gain
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 28 TOKYO PRO Market (TPM) *1 IPO support activities The number of companies listed on TPM (end-Sep 2026) Nihon M&A Center sponsor track record 190 firms listed in total 51 firms sponsored by Nihon M&A Center Step - up from TPM to the general markets supported by our company reached a cumulative total of 4 cases • Prefectures with J-Adviser/F-Adviser contract records • TOKYO PRO Market-listed companies sponsored by us • Fukuoka PRO Market*2-listed companies sponsored by us Cumulative number of companies supported by us for listings has reached 60 *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 A stock market operated by the Fukuoka Stock Exchange for specified investors (professional investors). Established in 2024. It provides more flexible listing criteria than the general markets Birth of star companies nationwide, contributing to regional and national regeneration
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 29 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 For successful M&A, the necessity and importance of PMI *1 are 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 firm established in 2018 specializing in PMI support Holding unique know-how for PMI support of SMEs Wholly owned by our company *1 Post Merger Integration process FY2023 FY2024 FY2025 FY2026 H1 (Apr - Sep) Track record of providing PMI 66 93 １３２ 55 + 41 % + 42 %
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 30 (Reference)PMI-related Initiatives Initiated joint research in PMI with Kwansei Gakuin University *1 Entered into a business alliance with Raynos and began providing support for securing management talent *2 Integrating informal elements, such as personnel and corporate culture, is a key focus of PMI for SMEs To identify “success factors for business integration” through academic research, the joint research systematically analyzes the realities of PMI and integration processes that lead to corporate growth after M&A Working with Raynos, which provides executive search services, we are strengthening support for securing management talent after M&A ⇒Aiming to reduce the risk of acquisitions being abandoned due to labor shortages and achieve smooth PMI Joint research with Kwansei Gakuin University (Jul 2026) Business alliance with Raynos (Aug 2026) *1 Please refer to the release dated July 7, 2026 for further details regarding this matter. (in Japanese only) Nihon M&A Center Holdings and Kwansei Gakuin University Launch Joint Research in PMI to Uncover the Realities of PMI in SME M&A *2 Please refer to the release dated August 4, 2026 for further details regarding this matter. Nihon M&A Center Enters into Business Alliance with Raynos, an Executive Search Firm Helping Secure Management Talent after M&A
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 31 Overseas Activities(1) 10th anniversary of opening overseas locations Began a strategic alliance with a U.S. M&A advisory firm Established overseas support office (Selected major events only) 2013 2016 2019 2020 2021 2022 2023 2024 2025 2026 Joined the World M&A Alliance Invested in a Korean M&A intermediary firm Began an alliance with one of Malaysia’s leading local accounting firms Began an alliance with U.S. M&A Advisory Firm Generational Group Opened the Singapore office, our first overseas location Opened the Indonesia representative office Vietnam local subsidiary commenced operations Opened the Malaysia representative office Opened the Thailand representative office Malaysia local subsidiary commenced operations Singapore local subsidiary commenced operations Thailand local subsidiary commenced operations Indonesia local subsidiary commenced operations Aug 2026 Evolution of overseas activities Phase 1: Overseas expansion Phase 2: Accumulation of know-how • Opening overseas locations • Developing mandate channels (building alliance networks) • Securing local talent • Expanding into intermediary business from a base of FA services • Strengthening the development of local talent • Expanding intermediary mandates accepted at overseas locations • Building a company-wide cross- functional matching system for overseas mandates • Establishing a profit model and moving into a growth stage Phase 3: Full-fledged profit generation 5 overseas locations Thailand local subsidiary Vietnam local subsidiary Malaysia local subsidiary Singapore local subsidiary Indonesia local subsidiary ▲ Scene from the signing ceremony with Generational Group
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 32 Overseas Activities(2) Held a 10th anniversary event in Singapore ▲ Scene from the anniversary event Background and overview Since entering Singapore in 2016, we have built a cross-border M&A network connecting Japan and ASEAN To mark the 10th anniversary, approximately 350 participants gathered from Japan and across ASEAN, including representatives of financial institutions, accounting firms, and business partners. Expressed gratitude for past support and shared our future growth strategy Event overview Date: September 1, 2026 Venue: Marina Bay Sands (Singapore) Scale: Approximately 350 participants from Japan and across ASEAN Program: • Presentation by our company • Panel discussions featuring sellers, buyers, and partners • Partner awards ceremony, etc. Entering a full-fledged profit generation phase centered on our five ASEAN locations
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 33 Fund business(1) Established J-Capital as an intermediate holding company overseeing the fund business An intermediate holding company overseeing the fund business Wholly owned subsidiary Established on April 1, 2026 Capital: 300 million yen Slogan: “Turning Succession into Success: Building Growth for Japan” Overview of J-Capital * See our website “Notice of Establishment of Intermediate Holding Company by Simplifies Incorporation type Company Split” for details Starting the year to develop the fund business as our company’s second pillar Evolution of the fund business Established Search Fund Japan 2000 2018 2020 2024 2026 Established Japan Private Equity Establishes Japan Investment Fund Established AtoG Capital Established J-Search Established 2023 Nihon M&A Center HD M&A intermediary business （intermediate holding company） AtoG Capital J-Search Japan Private Equity Search Fund Japan Consolidated subsidiaries Equity-method affiliates Japan Investment Fund
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 34 Hokkaido Search Fund No.1 Hokuriku Search Fund No.1 NOBUNAGA Search Fund No.1 Minami Kyushu Search Fund No.1 Awa Search Fund No,.1 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. After strengthening structures, aim for exits to Japanese companies • Fund No. 2 establishing (2026) Fund business(2) Initiatives to advance business at each fund company AtoG Capital （Since Dec 2023, our wholly owned subsidiary） J-Search （Since Oct 2024, our wholly owned subsidiary, operating region-focused search funds*） Japan Investment Fund Funds to increase company values and support regional rejuvenation Executed one investment (May 2026) and one exit (June 2026) Investments to date （As of Jun 2026） • Fund No. 1（Since Feb 2018） 12 investments in total, 8 of which were exited • Fund No. 2（Since Jan 2024） 5 investments in total * 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 (Since Jan 2018, joint venture between the Company and the Development Bank of Japan) Together with regional financial institutions we have established regional search funds * to address the shortage of management talent in local communities. • Established five funds across Japan
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FY2026 Forecast and Mid-term Management Plan
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 36 FY2026 Forecast Forecast exceeding Mid-term Management Plan (FY2027 targets: Sales ¥50 billion, OP ¥18 billion) H1 H2 Full year FY2025 results Compared to FY2025 results FY2025 forecasts Compared to FY2024 forecasts Sales (¥mn) 23,900 （45.3%） 28,900 （54.7%） 52,800 （100%） 50,257 +5.1% 46,300 +14.0% Operating Profit (¥mn) 8,600 （44.6%） 10,700 （55.4%） 19,300 （100%） 18,761 +2.9% 17,000 +13.5% Ordinary Profit (¥mn) 8,600 （44.6%） 10,700 （55.4%） 19,300 （100%） 19,154 +0.8% 17,000 +13.5% Profit attributable to parent company (¥mn) 6,200 （46.3%） ７,200 （53.7%） 13,400 （100%） 12,487 +7.3% 11,000 ＋２１.８% Earnings per share （¥） 19.46 （46.4%） 22.45 （53.6%） 41.91 （100%） 39.36 +6.5% 34.67 ＋２０.９% FY2026 consolidated results forecasts Accelerating the return to our original performance achievement cycle through various initiatives （Improving progress rate of the ninth-month period）
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 37 Target higher than budgeted figures Mid-term Management Plan Mid-term Management Plan In FY2025, we achieved our mid-term management target one year ahead of schedule. We aim to deliver upside results even within the current mid-term management plan period 16,918 0 19,154 0 19,300 20,000 44,077 0 50,257 0 52,800 54,000 0 10,000 20,000 30,000 40,000 50,000 60,000 FY2024 results FY2025 targets FY2025 results 2027年３月期 中期経営目標 2027年３月期 業績予想 FY2027 中期経営目標 Consolidated sales 46,300 17,000 50,000 18,000 FY2032 Vision300 ・・・ Next Genesis （ Vision 300 ） FY2032 target: ordinary profit of ¥ 30 billion FY2025 Mid-term Management Plan Target FY2026 + 5.9 ％ + 11.1 ％ +8. ０％ +8.0 ％ To achieve the ordinary profit target, we aim to expand our business domains in addition to the domestic M&A intermediary business • Fund business • Overseas activities • PMI business, etc. ・・・ ＜Priority areas for business domain expansion> Mid-term Management Plan Target Mid-term Management Plan Consolidated sales Consolidated ordinary profit (¥mn)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 38 Next GENESIS Vision 300 Starting with regional revitalization, driving the renewal of Japan, and ultimately becoming the world’s No. 1 integrated M&A company Toward ordinary profit of ¥30 billion in FY2032 Through the trust-type stock compensation plans, management and employees share a common direction for value creation with shareholders and investors Maximize face-to-face communication across the company through the expansion and relocation of the headquarters Formulated a new corporate vision and core values and shared across all employees FY2026 is defined as the start of our second founding and renewed growth Vision What the company aspires to become
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 39 Trust-type Stock Compensation Plan Introduction of trust-type stock compensation plans* toward achieving FY2032 ordinary profit target Structure and conditions Directors Granted as part of executive compensation upon achieving Vision 300 targets Managers and Employees (Excluding M&A Consultants) Upon Achievement of Vision 300 Targets M&A Consultants Upon meeting customer satisfaction and business quality standards Our Group Trust Account Directors and Employees of Our Group ① Treasury Shares Trust ② Shares are granted upon meeting certain conditions Conditions *Introduction approved by the Board of Directors on April 30, 2026 (for directors, approved at the Annual General Meeting held on June 25, 2026) Purpose of introducing this system To further heighten awareness among officers and all employees of improving medium- to long-term corporate value To strengthen value sharing between management and employees and shareholders As part of compensation plans that promote sustainable growth with awareness of performance and share price All of our employees share a common direction for value creation with investors
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 40 Head Office Expansion and Relocation in the Second Founding Phase Expanding and Relocating the Tokyo Head Office to Enhance Face-to-Face Communication and Improve Management Speed and Quality (Planned for Spring 2029) Enhancing Customer Value and Maximizing Long-Term Corporate Value Image of Face-to-Face Communication After the Headquarters Expansion and Relocation Succession (Transition to Team Leadership) Innovation (Creating Renewed Growth) An investment aimed not merely at increasing headcount or expanding facilities, but at maximizing authentic, real-time communication that transcends organizational hierarchies and departmental boundaries To enhance our headquarters functions by maintaining a highly accessible location near Tokyo Station and serving as a hub for in-person dialogue and information sharing with internal and external stakeholders Four non- contiguous floors • 22nd floor • 10th floor Objectives of the Head Office Expansion and Relocation Consolidated into two floors * Please refer to the release dated April 30 for detailed information, including an overview of the expanded migration destinations Enhance Face-to-Face Communication • 24th floor • 21st floor
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 41 Redesigning our mission framework Formulated a new vision and core values for our second founding We contribute to the preservation and sustainable growth of businesses through M&A To bring best-in-class M&A ever closer Starting with regional revitalization, driving the renewal of Japan, and ultimately becoming the world’s No. 1 integrated M&A company Be a professional １. Utmost respect for our clients ２. Swing the pendulum in full ３. The right things in the right way Redefined the Group’s Vision and renewed the existing Philosophy as Core Values Corporate ethos An enduring and unwavering corporate mission Purpose Our social value and reason for being Corporate ethos Purpose Philosophy Vision The vision we aim to realize through our second founding Core Value The company’s core values and beliefs See page 44 for details
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 42 Management organization structure Restructured the Sales Organization for our “second founding” amid structural growth in M&A demand Sales HQ ChannelGL GL Channel Channel Channel ChannelGL Dept. Dept. … … GL GL Dept. GL GL Dept. GL GL Dept. GL … … … … … … … … … Listed companies Mid-sized companies （Sales of ¥1 bn or more） SMEs （Sales of ¥100mn to less than ¥1 bn） Small-revenue companies （Sales of less than ¥1 bn） IB Coverage Div. Strategy Div. Capital Markets Div. Alliances Div. Corporate Business Div. Regional & Industry Strategy Div. （Handled by group companies） Prior Structure ⇒ New Structure GL GL Dept. … … Channel … Corporate BusinessDiv. Regional& Industry StrategyDiv. Alliances Div. Sales HQ Organizational roles by company size segment IPOandcapitalstrategysupport formid-sizedcompanies Growthstrategysupportforsmall- tomid-caplistedcompanies Investmentbankingservicesfor small-tomid-caplistedcompanies IB CoverageDiv. StrategyDiv. Capital Markets Div. （See page 69 for the full organizational structure） （Current core business segments） （FormerTPMDiv.） ・ ・ ・ GL GL Dept. … … Channel … GL GL Dept. … … Channel … Deepeningstrategiccollaboration withalliancepartners M&Asupportforgrowth-oriented companies Regionallyfocusedsupportfor industryrestructuring
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ROE and Shareholder Breakdown
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 44 ROE trend ROE to progress over ２0％ 24.0 % 18.7 % 21.8 % 24.1 % 25.7 % 24.4 0 10 20 30 0 10,000 20,000 30,000 40,000 50,000 60,000 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 （forecast） Shareholder equity（left axis） ROE（right axis） (¥mn) Shareholder equity and ROE （return on equity） (%) %
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 45 Share Ownership and Market Capitalization Share ownership as of 30 Sep 2026 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Market capitalization （from Apr 2020） Treasury stock 4.8 ％ Other corporations 2.3％ Securities companies 2.2％ Foreign 22.6 ％ Financial institutions 35.5 ％ Individuals 32.7 ％ No. of shareholders: 103,782 No. of shares issued: 336,934,800 (¥100mn)
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Industry Trends
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 47 Source: “Disclosure of registered financial advisors and intermediaries providing institutional support for M&A” (registered as of Sep 2026) （ https://www.chusho.meti.go.jp/zaimu/shoukei/2026/261020m_and_a02.pdf ） Within the total 87.7% have 4 or less specialist M&A support staff 62.2% 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 2026） Reporting of problems in the industry with inappropriate buyers M&A specialist companies – intermediaries About 820 Companies providing M&A support 3,427 Growth in new market entrants in Recent Years (Starting around May 2024)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 48 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) (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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 49 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 50 Announced an overview of the SME M&A Qualification Examination based on the skill map Overview of the “SME M&A Qualification Examination (tentative name)” From the perspective of improving the knowledge, skills, and ethics of individualsengaged in SME M&A support, implementation is envisaged from this fiscal year onward as an SME Agency-commissioned project Ginko Kenshusha Co., Ltd. selected as the operating entity (May 2026) A registration system for those who pass the SME M&A Qualification Examination is also scheduled to be introduced Required practical capabilities Examination subjects Ethics and Code of Conduct Legal M&A Practice Finance and Tax SME M&A Qualification Examination (conceptual image) Registration system for the SME M&A qualification (draft) (1) Registration requirements Compliance with the ethical rules Agreement to disciplinary measures in the event of a violation of the ethical rules Attendance at training at the time of registration and on a regular basis (expected to be once every one to two years, etc.) (2) Benefits of registration Public disclosure of name in a database as qualification holder Issuance of qualification certificatesSource: Extracted and reorganized by the Company based on materials distributed at the 4th Study Group on Reforming the SME M&A Market Promoting a sound market through broader adoption of the qualification Able to correctly identify issues and challenges in intermediary and FA services and respond appropriately Able to understand the full process of SME M&A and carry it out smoothly Able to understand clients’ intentions and assess issues based on basic financial, tax, and legal knowledge Able to work with professionals such as licensed specialists and respond to intermediary and FA services Understands ethics and code of conduct based on the guidelines Industry Trends - Response by SME Agency (3) (Mar 2026)
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 51 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 * 272 companies joined (as of Sep 2026). 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 52 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 Chec Criminal record Checkpoint 2 Financial capacity of buyer 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 ⑤ Conducting surveys one year after deal completion with contacts who confirmed the release of guarantees, visualizing the transition “from deal completion to success. 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 53 Our CPAO Shin Yokoi serves as a committee member of the Qualification Examination Working Group Hideyuki Kumagai, Director and Associate Senior Corporate Executive Officer, participates as a panel member in an expert committee reviewing inheritance tax valuation rules for unlisted shares 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. Corporate Officer, General Manager of Legal Department (Current: Senior Corporate Officer) Strengthening 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 Office for promotion of M&A research with academic, industry & government collaboration CPAO Participating as executive member Government authorities Academia M&A Advisors Association
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 54 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 11,000 successful transactions Corporate evaluation based on a track record of over 20,000 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 55 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 57 65.8 62.3 58.0 54.5 52.7 50.8 0 10 20 30 40 50 60 70 2020 2021 2022 2023 2024 2025 （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 2024 In 2025 （％） 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 (April 24, 2026) 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. 2026 SME White Paper (published 24 Apr 2026) 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 58 61.5 56.5 54.9 52.4 51.5 38.5 43.5 45.1 47.6 48.5 47.2 0 50 100 2020 2021 2022 2023 2024 2025 Profitable In loss （Reference） Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up （％） 52.8% 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 2025, ６7,949 companies became dormant, closed down or were broken up, the second highest in the past decade 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 60 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 61 *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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 63 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 50,257 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 19,154 0 10,000 20,000 30,000 40,000 50,000 60,000 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 (¥mn) Consolidated sales Consolidated ordinary profit (Reference) Track record on Sales and Ordinary Profit since FY2009
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 64 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) 1,076 （excluding 4 full-time directors) Breakdown of employees by type M&A consultants 641 M&A support/Others 435 Corporate Profile (as of end-Sep 2026) Leading company in M&A intermediary services with a track record of over 11,000 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 65 Corporate History ★ We have been profitable since the second year of our history and have continuously paid a dividend 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 2026） 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 2026） 18 subsidiaries, 19 equity method applied affiliate Recognized by Guinness World RecordsTM for 6 consecutive years "Best-selling mergers and acquisitions advisory company in 2025" (Year of record: Jan 2025 - Dec 2025) 35th anniversary 1991 2000 200２ 2006 2007 2008 201５ 2016 2019 20２１ 2022 2023 2024 2026
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 66 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 … 1,135 firms Regional banks … Collaboration agreement with 93 (out of a total of 95) Shinkin banks … Collaboration agreement with 223 (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, Tokai Tokyo Securities, SMBC Nikko Securities and SBI SECURITIES, SMBC Trust Bank 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 2026 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 67 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 35 years of history, over 11,000 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 68 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 69 M&A interm ediary Private equity funds Small- scale M&As Human resource s with digitaliza tion skillsMarket research Company valuation Consulting services after transaction s PMI support Becoming An Integrated M&A Company Specialized 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. Nihon M&A Center Established in 1991. The top company for closed deals in the M&A intermediary services industry 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. AI Brain Partners A company that supports businesses in cultivating in- house AI capabilities and helping them to achieve self-sufficiency. Batonz Running BATONZ, M&A and business succession support platform utilizing the internet. List on the TSE Growth Market on Apr 2026 J-Capital An intermediate holding company overseeing the fund business * 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 70 Nihon M&A Center Inc. Organization Structure （as of Oct 2026） Corporate HQMarketing HQ Value Promotion HQ Accountants Channel Securities Channel Megabanks Channel AlliancesChannel Corporations Channel Special Situations Corporate Channel Growth StrategyChannel Investments Strategy Channel InternationalChannel Strategy Div. Sales Development Div. Operations Management HQ （Collaboration with accounting firms ） （Collaboration with regional financial inst. ） （Collaboration with securities companies ） （Collaboration with mega banks ） （Responsible for buyers in collaboration with alliance partners)（Direct buy-side coverage ） （Focus on mid-cap deals ） （Focus on completion of inactive mandates ） Alliances Div. Corporate Business Div. Regional & Industry Strategy Div. （Focus on PE fund deals ） （Focus on overseas deals ） （Responsible for region-and industry-specific deals ） Sales HQ Regional Financial Inst. Channel President Chairman Audit and Supervisory Committee Board of Directors Shareholders Annual General Meeting Compliance Division Internal Audit Office Regional & Industry Strategy Channel IBCoverageDivi. Capital Markets Div. Sales Development Dept. IPO promotionDept. IPO Review Dept. Corporate Advisory Dept. Knowledge Management Dept. Deal Management Dept. HR Dept. General Affairs Dept. Finance & Accounting Dept. DocumentManagementDept. Risk Management Dept. LegalAdvisoryDept. Business Process Dept. Data managementDept. Digital marketing Dept. Information System Dept. IndsideSalesDept. ITpromotionDept. Real marketing Dept. PR Dept. Corporate Planning Dept. IR Dept. BusinessInnovationOffice CEO`soffice HR Strategy Dept. HQ Expansion Office Customer Satisfaction Dept.
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 71 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 72 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 DigitalisationUtilizing 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©2026 Nihon M&A Center Holdings Inc. All rights reserved. 73 Average： 36 employees, Median: 18 employeesAverage： 843 ¥mn, Median： 351 ¥mn Transactions closed in FY2025 What size sellers does Nihon M&A Center support ？ Sales in a seller (¥mn) Number of employees in a seller More than 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 8.7 ％ More than 100 to 200 18.8 ％ More than 200 to 300 16.3 ％ More than 300 to 400 11.6 ％ More than 400 to 500 ７ .2 ％ More than 500 to 700 7.2 ％ More than 700 to 1,000 11. ６ ％ More than 1,000 to 2,000 10.5 ％ More than 2,000 8.1 ％ More than 10 to 20 employees 26.4 ％ More than 20 to 30 employees 12.6 ％ More than 30 to 50 employees 11.6 ％ More than 50 to 100 employees 11.6 ％ More than 100 employees 7.6 ％ More than 5 to 10 employees 16.1 ％ 5 employees or less 14.1 ％ * Calculated from deals closed in FY2025
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 74 Transactions closed in FY2025 Same sector Different sector Total Same region 9.3 ％ 25.2 ％ 34.5 ％ Different region 24.8 ％ 40.7 ％ 65.5 ％ Total 34.1 ％ 65.9 % 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 FY2025 Construction 24.6 ％ Metal and plastic related 10.9 ％ ５ .6 ％ Machinery, electronics parts manufacturing and distribution Food industry 7.4 ％ Medical and nursing care 7.9 ％ IT 4.8 ％ Printing, advertising, publishing and content HR services for corporations 5.2 ％ Land transportation, Shipping 5.4 ％ Others 23.6 ％ 4.5 ％ * Calculated from deals closed in FY2025
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 75 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. MSCI ESG Rating is currently BBB due to changes in the rating methodology in 2026 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 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. Year 2019 2020 2021-2０23 ２０２４ ２０２５ ２０２6 Score B BB BBB A A BBB
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 76 The full version of the Book is available on our corporate website (In Japanese) Continue to share information on D&I promotion Published the “DIVERSITY & INCLUSION BOOK,” which summarizes our D&I initiatives (Mar 2026) Interview with employeesInterview with officers Introduction to D&I-related events and initiatives We continue to implement initiatives to promote D&I. This booklet was created to introduce these initiatives, and this is its fourth publication in the fiscal year ended March 2026. Sustainability Initiatives 「DIVERSITY & INCLUSION BOOK 2025-2026」 Cover
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 77 Continuing to strengthen communication on growth strategies and foundations for value creation Sustainability Integrated Report 2026 Published in both Japanese and English Integrated Report 2026 The full version of the Integrated Report is available on our corporate website Cover Roundtable Discussion with Outside Directors Message from Top Management Dialogue with Stakeholders
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 78 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, 2026 FY2025 Basic information Preventive effects on economic losses and job losses 1 2 Preventive effects on economic losses Number of M&A contracts 487 Preventive effects on economic losses ¥ 778.1 billion Preventive effects on economic losses for the next decade ¥ 5.6266 trillion3 Total revenues for the companies involved in the aforementioned M&A contracts ¥ 419.7 billion Preventive effects on job losses 64,995
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 79 Transactions Closed in Q2 (1/3) 148 transactions closed, 290 *1 by number of companies Selling company Acquiring company Industry classification Region Industry classification Region 1 Building construction Tokai, Hokuriku Building construction Tokai, Hokuriku 2 Other construction works Kanto Building construction Kanto 3 Other construction works Tokai, Hokuriku Civil engineering contractor Tokai, Hokuriku 4 Customised software development Kanto Architect Kanto 5 Geological survey Kanto Geological survey Kanto 6 Restaurants Kanto Energy Kanto 7 Electrical and telecoms contractor Tokai, Hokuriku Energy Tokai, Hokuriku 8 Clinic Kanto Hospital Kanto 9 Food manufacture Kansai Food wholesale Kansai 10 Food manufacture Kanto Restaurants Chugoku, Shikoku 11 Metals parts processing Kanto Metals parts processing Hokkaido, Tohoku 12 Other machinery manufacture Hokkaido, Tohoku Industrial machinery manufacture Kansai 13 Customised software development Kanto Other machinery manufacture Kanto 14 Other machinery manufacture Kanto Other machinery manufacture Tokai, Hokuriku 15 Industrial machinery manufacture Kansai Packaging materials wholesale Chugoku, Shikoku 16 Daily goods manufacturing Kansai Furniture / furniture interior manufacturing Tokai, Hokuriku 17 Pharmacy / drugstore Kansai Pharmacy / drugstore Tokai, Hokuriku 18 Truck transportation Kanto Truck transportation Hokkaido, Tohoku 19 －*2 － Truck transportation Hokkaido, Tohoku 20 Truck transportation Koshinetsu Truck transportation Kansai 21 Truck transportation Koshinetsu Truck transportation Kanto 22 IT related business Kanto IT related business Kanto 23 － － Manpower dispatching Kanto 24 Printing Kanto Manpower dispatching Kanto 25 Manpower dispatching Chugoku, Shikoku Manpower dispatching Kyushu, Okinawa Selling company Acquiring company Industry classification Region Industry classification Region 26 Office for professional occupations Kanto Accounting firm Kanto 27 － － Services for corporate customers Kanto 28 － － Hotels Kyushu, Okinawa 29 Education Tokai, Hokuriku Sport Kanto 30 Property business Kansai Entertainment Kanto 31 Interior finish work Kansai Automotive retail Kansai 32 Pavement work Hokkaido, Tohoku Education Koshinetsu 33 Civil engineering contractor Kanto Building construction Kanto 34 Exterior finish work Hokkaido, Tohoku Civil engineering contractor Kanto 35 Pipe contractor Kanto Pipe contractor Kanto 36 － － Pipe contractor Tokai, Hokuriku 37 Civil engineering contractor Kanto Other construction works Tokai, Hokuriku 38 Truck transportation Tokai, Hokuriku Scrap processing and wholesaling Chugoku, Shikoku 39 Property management / sale Kanto Energy Kanto 40 Property development / sales Chugoku, Shikoku Property development / sales Chugoku, Shikoku 41 Property business Kanto Property development / sales Kanto 42 Property management / sale Chugoku, Shikoku Property management / sale Chugoku, Shikoku 43 Property business Koshinetsu Nursing and welfare Kanto 44 Agricultural related manufacture / sales Chugoku, Shikoku Agriculture Chugoku, Shikoku 45 － － Food manufacture /contract food service Tokai, Hokuriku 46 Food manufacture Koshinetsu Food manufacture Kansai 47 Food wholesale Chugoku, Shikoku Food wholesale Kanto 48 Food wholesale Kansai Food wholesale Kanto 49 Sales promotion Kanto Apparel manufacturing and sewing Tokai, Hokuriku 50 Industrial machinery manufacture Kansai Metals parts processing Kansai *1 Includes intermediary/FA transactions with overseas subsidiaries. As these transactions have already been counted when recogn ized by the domestic counterparty, they are not shown in the transaction list above *2 “－” indicates the FA counterparty
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 80 Transactions Closed in Q2 (2/3) Selling company Acquiring company Industry classification Region Industry classification Region 51 Metals parts processing Kanto Metals parts processing Tokai, Hokuriku 52Metals parts processing Tokai, Hokuriku Metal parts wholesale Tokai, Hokuriku 53 Industrial machinery manufacture Chugoku, Shikoku Industrial machinery manufacture Chugoku, Shikoku 54 Electrical and telecoms contractor Kanto E-commerce services Kanto 55 Pharmacy / drugstore Kanto Pharmacy / drugstore Kanto 56 Sales promotion Tokai, Hokuriku Sales promotion Tokai, Hokuriku 57 Sales promotion Kanto Sales promotion Kansai 58 Cosmetics manufacturing Kanto Manpower dispatching Kanto 59 Hotels Kanto Hotels Kanto 60 Hotels Kanto Entertainment Hokkaido, Tohoku 61 Metals parts processing Kanto Food retail Kanto 62 E-commerce services Kansai Other retails Kansai 63 Education Kanto Education Koshinetsu 64 Building maintenance Kanto Life related services Kanto 65 Security firm Kansai － － 66 Construction materials wholesale Hokkaido, Tohoku Building construction Hokkaido, Tohoku 67 Pipe contractor Kansai Building construction Kansai 68 Building construction Kyushu, Okinawa Building construction Kansai 69 Architect Kyushu, Okinawa Civil engineering contractor Kyushu, Okinawa 70 Civil engineering contractor Kansai Civil engineering contractor Kanto 71 Pipe contractor Kanto Civil engineering contractor Kanto 72 Industrial waste management Kanto Pipe contractor Kanto 73 Electrical and telecoms contractor Chugoku, Shikoku Electrical and telecoms contractor Chugoku, Shikoku 74 Electrical and telecoms contractor Chugoku, Shikoku Electrical and telecoms contractor Chugoku, Shikoku 75 Electrical and telecoms contractor Chugoku, Shikoku Electrical and telecoms contractor Kanto 76 Electrical and telecoms contractor Kansai Electrical and telecoms contractor Kyushu, Okinawa 77 Pipe contractor Tokai, Hokuriku Pipe contractor Tokai, Hokuriku 78 Plant engineering Kyushu, Okinawa Plant engineering Kyushu, Okinawa *1 Includes intermediary/FA transactions with overseas subsidiaries. As these transactions have already been counted when recogn ized by the domestic counterparty, they are not shown in the transaction list above *2 “－” indicates the FA counterparty Selling company Acquiring company Industry classification Region Industry classification Region 79 Energy Kansai Plant engineering Chugoku, Shikoku 80 Geological survey Hokkaido, Tohoku Architect Hokkaido, Tohoku 81 Geological survey Kanto Geological survey Kansai 82 Sport Kanto Industrial waste management Hokkaido, Tohoku 83 Industrial machinery wholesale Koshinetsu Energy Koshinetsu 84 Industrial machinery wholesale Koshinetsu Energy Koshinetsu 85 Energy Hokkaido, Tohoku Energy Kanto 86 Education related services Koshinetsu Energy Koshinetsu 87 Property development / sales Kanto Property development / sales Kanto 88 Property development / sales Koshinetsu Property management / sale Hokkaido, Tohoku 89 Pipe contractor Tokai, Hokuriku Building maintenance Tokai, Hokuriku 90 Nursing and welfare Kansai Building maintenance Kansai 91 Entertainment Kansai Property business Kansai 92 Property business Kansai Property business Kansai 93 Clinic Kyushu, Okinawa Hospital Kanto 94 Clinic Chugoku, Shikoku Clinic Chugoku, Shikoku 95 Nursing and welfare Hokkaido, Tohoku Nursing and welfare Hokkaido, Tohoku 96 Nursing and welfare Tokai, Hokuriku Nursing and welfare Koshinetsu 97 Livestock farming Kansai Livestock farming Kansai 98 Daily goods manufacture / wholesale Kanto Food manufacture Kanto 99 Food manufacture Kanto Food manufacture Kanto 100 Food wholesale Chugoku, Shikoku Food manufacture Kansai 101 E-commerce services Hokkaido, Tohoku Food manufacture Hokkaido, Tohoku 102 Food manufacture Kanto Food manufacture Kanto 103 Food wholesale Hokkaido, Tohoku Food wholesale Hokkaido, Tohoku 104 Food wholesale Hokkaido, Tohoku Food wholesale Hokkaido, Tohoku 105Daily goods manufacture / wholesale Kanto Food wholesale Kansai 106 Truck transportation Tokai, Hokuriku Food wholesale Tokai, Hokuriku
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Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. 81 Transactions Closed in Q2 (3/3) *1 Includes intermediary/FA transactions with overseas subsidiaries. As these transactions have already been counted when recogn ized by the domestic counterparty, they are not shown in the transaction list above *2 “－” indicates the FA counterparty Selling company Acquiring company Industry classification Region Industry classification Region 107 Apparel design / retail Kanto Apparel design / retail Tokai, Hokuriku 108Metals parts processing Koshinetsu Metals parts processing Koshinetsu 109Metals parts processing Kanto Metals parts processing Kanto 110 IT related business Koshinetsu Can manufacture / sheet metal Kanto 111 Metals parts processing Kanto Metal parts manufacture Kanto 112 Can manufacture / sheet metal Kansai Metal parts wholesale Kansai 113 Construction materials wholesale Kanto Metal parts wholesale Kansai 114 Restaurants Koshinetsu Metal parts wholesale Koshinetsu 115 Property business Kansai Metals parts processing Kansai 116 Industrial machinery manufacture Kansai Industrial machinery manufacture Kansai 117Metals parts processing Hokkaido, Tohoku Electric components manufacture Kyushu, Okinawa 118 Other machinery manufacture Kansai Other machinery manufacture Kanto 119 － － Other machinery manufacture Tokai, Hokuriku 120 Printing Kanto Daily goods manufacturing Kanto 121 Property business Kansai Daily goods manufacture / wholesale Kanto 122 Civil engineering contractor Kanto Chemical manufacturing Kanto 123 Pharmacy / drugstore Tokai, Hokuriku Pharmacy / drugstore Kanto 124 Pharmacy / drugstore Kyushu, Okinawa Pharmacy / drugstore Hokkaido, Tohoku 125 Truck transportation Tokai, Hokuriku Truck transportation Kansai 126 Truck transportation Kanto Truck transportation Kanto 127 Automotive retail Koshinetsu Truck transportation Koshinetsu 128 Truck transportation Kanto Truck transportation Koshinetsu 129 Truck transportation Kansai Truck transportation Kanto 130 Truck transportation Koshinetsu Truck transportation Tokai, Hokuriku 131 Daily goods manufacture / wholesale Tokai, Hokuriku Taxi Tokai, Hokuriku 132 Resin parts processing Kansai Warehousing Kansai 133 Warehousing Tokai, Hokuriku Warehousing Kanto 134 Taxi Kanto Transportation related services Kanto Selling company Acquiring company Industry classification Region Industry classification Region 135 Customised software development Tokai, Hokuriku Customised software development Kanto 136Can manufacture / sheet metal Kanto Customised software development Kanto 137 Customised software development Kanto Printing Tokai, Hokuriku 138 Manpower dispatching Kanto Manpower dispatching Kyushu, Okinawa 139Metals parts processing Kanto Manpower dispatching Kansai 140 Restaurants Kansai Private equity fund Kanto 141 Resin parts processing Kanto Services for corporate customers Kanto 142 Hotels Koshinetsu Hotels Koshinetsu 143 Food retail Kanto Food retail Kanto 144 Automotive retail Tokai, Hokuriku Automotive retail Tokai, Hokuriku 145 Energy Kanto E-commerce services Kanto 146 Education Kanto Education Kanto 147 Agricultural related manufacture / sales Kyushu, Okinawa Private equity fund Kanto 148 Clinic Kanto Medical related services Kanto
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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 We contribute to the preservation and sustainable growth of businesses through M&A. Corporate Purpose To bring best-in-class M&A ever closer 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/
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Core Value The company’s core values and beliefs Be a professional It means taking responsibility not merely for outcomes, but for the lives entrusted to us. Utmost respect for our clients Swing the pendulum in full The right things in the right way A company is a place where lives are woven together. That is why we face our clients with absolute commitment, even accepting the possibility of walking away when necessary, in order to realize truly meaningful M&A. If you are truly serious, elevate your actions and thinking to the point of swinging the pendulum to its limit. A fully swung pendulum will eventually become a great sphere, maximizing human potential. The drive to push to the extreme becomes reckless without what is right. When you sense something is wrong, raise your voice. As members of society, as human beings, and as a company, we commit to doing the right thing, in the right way. Respect, the courage to swing the pendulum fully, and righteousness Only those who uphold this trinity are true professionals.