Interim report
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. August 3, 2026 CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd FFFFFiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll RRRRReeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee TTTTThhhhhrrrrreeeeeeeeee MMMMMooooonnnnnttttthhhhhsssss EEEEEnnnnndddddeeeeeddddd JJJJJuuuuunnnnneeeee 3333300000,,,,, 22222000002222266666 (((((UUUUUnnnnndddddeeeeerrrrr IIIIIFFFFFRRRRRSSSSS))))) Company name: NH Foods Ltd. (the "Company") Listing: Tokyo Stock Exchange Securities code: 2282 URL: https://www.nipponham.co.jp Representative: Fumio Maeda, President and Representative Director Inquiries: Satoshi Izumi, General Manager of Accounting & Finance Department / VBM Promotion Office Telephone: +81-6-7525-3042 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (for institutional investors and analysts) (Figures are indicated by counting fractions of 1/2 or more of a million yen as one and discarding the rest.) 11111..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee ttttthhhhhrrrrreeeeeeeeee mmmmmooooonnnnnttttthhhhhsssss eeeeennnnndddddeeeeeddddd JJJJJuuuuunnnnneeeee 3333300000,,,,, 22222000002222266666 (((((fffffrrrrrooooommmmm AAAAAppppprrrrriiiiilllll 11111 tttttooooo JJJJJuuuuunnnnneeeee 3333300000,,,,, 22222000002222266666)))))::::: (1) Consolidated operating results: (The percentages indicate the rates of increase (decrease) from the previous fiscal year.) Net sales Business profit Profit before tax Profit Profit attributable to owners of the parent Total comprehensive income (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) Three months ended June 30, 2026 384,946 8.7 19,415 19.5 18,523 0.6 12,210 (2.7) 10,772 (5.6) 14,647 24.5 June 30, 2025 354,141 4.8 16,241 11.5 18,418 (7.0) 12,555 (9.5) 11,417 (12.5) 11,764 (49.3) Earnings per share (basic) (yen) Three months ended June 30, 2026 114.46 June 30, 2025 115.40 (Notes) 1. Business profit is calculated by deducting cost of goods sold and selling, general and administrative expenses from net sales, and accounting for foreign exchange gains and losses determined by the Group, while deducting adjustments in accordance with IFRS Accounting Standards and non-recurring items. 2. Diluted earnings per share is not presented as no potential shares with dilutive effect existed.
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(2) Consolidated financial position: Total assets Total equity Total equity attributable to owners of the parent Equity ratio of owners of the parent (millions of yen) (millions of yen) (millions of yen) (%) As of June 30, 2026 1,019,630 550,023 533,917 52.4 March 31, 2026 997,477 551,692 536,940 53.8 22222..... SSSSStttttaaaaattttteeeee ooooofffff dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss::::: (yen) Annual dividend per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Year ended March 31, 2026 － － － 160.00 160.00 Year ending March 31, 2027 － Year ending March 31, 2027 (forecast) － － 180.00 180.00 (Note) Revisions to the forecast of cash dividends most recently announced: None 33333..... FFFFFooooorrrrreeeeecccccaaaaasssssttttt ooooofffff cccccooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd bbbbbuuuuusssssiiiiinnnnneeeeessssssssss rrrrreeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee yyyyyeeeeeaaaaarrrrr eeeeennnnndddddiiiiinnnnnggggg MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222277777 (((((AAAAAppppprrrrriiiiilllll 11111,,,,, 22222000002222266666 ttttthhhhhrrrrrooooouuuuuggggghhhhh MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222277777)))))::::: (The percentages indicate the rates of increase (decrease) from the previous fiscal year in respect of the whole-year period, and from the second quarter (cumulative) period of the previous fiscal year in respect of the second quarter (cumulative) period, respectively.) Net sales Business profit Profit before tax Profit attributable to owners of the parent Earnings per share (basic) (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) (millions of yen) (%) (yen) Second quarter (cumulative) 745,000 3.1 34,000 (6.4) 34,000 (11.2) 22,000 (5.1) 233.71 Whole-year period 1,500,000 2.9 61,000 (10.7) 55,000 0.8 38,000 8.4 403.68 (Note) Revisions to the forecast of business results most recently announced: None * Notes: (1) Significant changes in the scope of consolidation during the period: None Newly included: — (Name: ) Excluded: — (Name: ) (2) Changes in accounting policies and accounting estimates: 1) Changes of accounting policies required by IFRS: None 2) Changes of accounting policies due to other reasons: None 3) Changes in accounting estimates: None (3) Number of issued shares (ordinary shares): 1) Total number of issued shares at the end of the period (including treasury shares): As of June 30, 2026: 94,245,000 shares As of March 31, 2026: 99,095,004 shares 2) Number of treasury shares at the end of the period: As of June 30, 2026: 308,227 shares As of March 31, 2026: 4,961,563 shares
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3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year): Three months ended June 30, 2026: 94,118,457 shares Three months ended June 30, 2025: 98,942,901 shares (Note) The number of shares of treasury stock as of the end of the fiscal year includes the number of the Company's shares (92,972 shares for the three months ended June 30, 2026 and 98,617 shares for the year ended March 31, 2026) held by the Board Incentive Plan Trust (the "BIP Trust") adopted upon the introduction of the Performance-Based Stock Compensation Plan for officers. The number of shares of treasury stock deducted in the calculation of the average number of shares outstanding during the fiscal year includes the number of the Company's shares held by the BIP Trust. In addition, the number of shares of treasury stock deducted in the calculation of the average number of shares outstanding during the previous fiscal year includes the number of the Company's shares held by the NH Foods Group Employee Shareholding Association Dedicated Trust (the "Trust") upon the introduction of the Trust-type Employee Shareholding Incentive Plan. As the Trust-type Employee Shareholding Incentive Plan was terminated on October 15, 2025, the Trust held no shares of the Company as of March 31, 2026 and as of June 30, 2026. * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None * Explanation for the appropriate use of the forecast of business results and other special instructions. (Disclosure of the quarterly financial results after completion of the quarterly review by certified public accountants) The Company plans to disclose the quarterly financial results again after the quarterly review by certified public accountants is completed on August 7, 2026. (Cautionary notice on information about the future) The descriptions herein about the future, including the forecast of business results, are based on the information currently available to the Company and certain assumptions considered reasonable by the Company and are not contemplated to ensure the fulfillment thereof. The actual results may materially differ from such forecast and plans depending on various factors. The Company, therefore, wishes to caution that readers should not place undue reliance on these descriptions to make investment decisions. Further, unless obligated by laws or ordinances or the rules of financial instruments exchanges, the Company will not necessarily, or is not obligated to, revise such descriptions about the future, including the forecast of business results notwithstanding any information or event in the future or any results arising therefrom, or publicize such revised information. For information on the conditions precedent to the forecast of business results and cautionary notes for the use of the forecast of business results, please refer to "1. Overview of Operating Results, etc. (3) Future Outlook" on page 4.
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1 CONTENTS OF ATTACHMENT 1. Overview of Operating Results, etc. …………………………………………………………… 2 (1) Overview of Operating Results …………………………………………………………… 2 (2) Overview of Financial Position …………………………………………………………… 3 (3) Future Outlook ……………………………………………………………………………… 4 2. Consolidated Financial Statements and Primary Notes ………………………………………… 5 (1) Consolidated Statements of Financial Position …………………………………………… 5 (2) Consolidated Statements of Income ………………………………………………………… 7 (3) Consolidated Statements of Comprehensive Income ……………………………………… 8 (4) Consolidated Statements of Changes in Equity …………………………………………… 9 (5) Consolidated Statements of Cash Flows ……………………………………………………11 (6) Note on the Premises of a Going Concern …………………………………………………12 (7) Significant Matters Forming the Basis for Preparing Consolidated Financial Statements … 12 (8) Notes to Consolidated Financial Statements ………………………………………………12 Segment information ………………………………………………………………………12 * The Company plans to hold a financial results briefing for institutional investors and analysts on Monday, August 3, 2026. All materials to be used at the conference will be disclosed on TDnet and posted on its website today. * In addition to the above-mentioned briefing, the Company will hold briefings of its operations and business results for individual investors from time to time. Please check the Company's website for information on the schedules of such briefings, etc.
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2 1. Overview of Operating Results, etc. (1) Overview of Operating Results Overview of Operating Results in General For the first quarter of the fiscal year under review on a consolidated and cumulative basis, net sales increased by 8.7% from the same period of the previous fiscal year to ¥384,946 million. This growth was primarily attributable to an increase in the unit price of imported meats in the Fresh Meats Business and growth in sales of consumer products in the Processed Foods Business. Business profit increased by 19.5% to ¥19,415 million, mainly due to appropriate pricing of imported fresh meats and inventory control in the Fresh Meats Business, despite the impact of soaring raw material prices and the weak yen. Profit before tax increased by 0.6% to ¥18,523 million, and profit attributable to owners of the parent decreased by 5.6% to ¥10,772 million, compared to the same period of the previous fiscal year. Overview of Operating Segments In April 2026, the Group established the "Sports & Entertainment Business Division" and implemented an organizational restructuring to place the existing Ballpark Business under its umbrella. Accordingly, from the first quarter of the fiscal year, the classification of reportable segments has been changed to the "Sports & Entertainment Business Division." In addition, due to a change in the scope of business divisions included in corporate overhead expenses, the amount of these expenses allocated to each reportable segment has also been changed. Therefore, amounts for the cumulative first quarter of the year ended March 31, 2026 have been reclassified based on the new reportable segment information for comparative analysis. YoY results Net sales Business profit Three months ended June 30, 2026 Change % Change Three months ended June 30, 2026 Change % Change (millions of yen) (millions of yen) (%) (millions of yen) (millions of yen) (%) Processed Foods Business Division 132,189 3,163 2.5 746 (120) (13.9) Fresh Meats Business Division 280,805 30,518 12.2 15,264 2,588 20.4 Sports & Entertainment Business Division 12,544 1,461 13.2 4,911 1,111 29.2 (Processed Foods Business Division) Net sales increased by 2.5% from the same period of the previous fiscal year to ¥132,189 million due to growth in domestic sales of mainstay brand products for consumers and an increase in manufacturing volume at subsidiaries in North America. Business profit decreased by 13.9% from the same period of the previous fiscal year to ¥746 million. This was primarily due to soaring raw material prices affected by the situation in the Middle East, despite an expansion in manufacturing volume in North America and Thailand. (Fresh Meats Business Division) Net sales increased by 12.2% from the same period of the previous fiscal year to ¥280,805 million due to appropriate pass-through of cost increases despite soaring procurement prices for each type of livestock, and to the maintenance of sales volume despite an increase in unit sales prices in the Australian beef business. Business profit increased by 20.4% from the same period of the previous fiscal year to ¥15,264 million due to appropriate pricing of imported fresh meats and inventory control, as well as progress in securing profits thanks to the success of the brand strategy in the sales division.
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3 (Sports & Entertainment Business Division) Net sales increased by 13.2% from the same period of the previous fiscal year to ¥12,544 million, and business profit increased by 29.2% from the same period of the previous fiscal year to ¥ 4,911 million. These increases were primarily due to the steady growth in visitors at "ES CON FIELD HOKKAIDO," which resulted in strong revenues from ticket, advertising, merchandise, and food and beverage. (2) Overview of Financial Position <Financial position> (Assets) Total assets increased by 2.2% from the end of the previous fiscal year to ¥1,019,630 million. Current assets increased by 5.5% from the end of the previous fiscal year to ¥462,330 million as inventories increased by 13.7% to ¥174,468 million mainly due to an increase in unit prices and stocks of fresh meats, and other financial assets increased by 119.4% to ¥16,097 million while cash and cash equivalents decreased by 15.1% to ¥58,321 million. Non-current assets decreased by 0.3% from the end of the previous fiscal year to ¥557,300 million because property, plant and equipment decreased by 0.2% to ¥375,187 million, while intangible assets and goodwill increased by 2.8% to ¥40,150 million due to the increase in software associated with the DX promotion. (Liabilities) Total liabilities increased by 5.3% from the end of the previous fiscal year to ¥469,607 million mainly because interest-bearing liabilities increased by 10.7% to ¥252,983 million due to an increase in borrowings prepared for current capital needs, although income taxes payable decreased by 30.7% to ¥10,758 million. (Equity) Total equity attributable to owners of the parent decreased by 0.6% from the end of the previous fiscal year to ¥533,917 million mainly because ¥15,062 million decrease due to cash dividends, although ¥10,772 million increase due to net income. As a result, the equity ratio of owners of the parent decreased by 1.4 percentage points from the end of the previous fiscal year to 52.4%. <Cash flows> (Cash Flows from Operating Activities) Profit before tax amounted to ¥18,523 million, depreciation and amortization expenses amounted to ¥11,062 million and the increase in trade and other payables amounted to ¥8,215 million, while the increase in inventories amounted to ¥20,640 million. As a result, net cash provided by operating activities amounted to ¥1,961 million. (Cash Flows from Investing Activities) Acquisition of fixed assets amounted to ¥10,506 million. As a result, net cash used in investing activities amounted to ¥10,594 million. (Cash Flows from Financing Activities) Cash dividends amounted to ¥15,172 million and payments for acquisition of treasury stock amounted to ¥10,001 million, while increase in short-term bank loans amounted to ¥25,885 million. As a result, net cash used in financing activities amounted to ¥2,766 million. As a result, cash and cash equivalents at the end of the first quarter of the fiscal year decreased by ¥10,358 million from the end of the previous fiscal year to ¥58,321 million.
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4 (3) Future Outlook There are no changes to the forecast of consolidated business results for the cumulative second quarter and the whole-year period of the year ending March 31, 2027 from the future outlook announced in the "Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (Under IFRS)" dated May 8, 2026. Cautionary notice on information about the future The plans, forecast of operating results and other prospects for the future described in this brief statement of accounts are based on the information currently available to the Company and certain assumptions considered reasonable by the Company and are not contemplated to ensure the fulfillment thereof. The actual results in the future may materially differ from such plans and forecast, depending on various factors including risk factors in business. The Company, therefore, wishes to caution that readers should not place undue reliance on these descriptions to make investment decisions. Further, unless obligated by laws or ordinances or the rules of financial instruments exchanges, the Company will not necessarily, or is not obligated to, revise such descriptions about the future, including the forecast of business results notwithstanding any information or event in the future or any results arising therefrom, or publicize such revised information.
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5 2. Consolidated Financial Statements and Primary Notes (1) Consolidated Statements of Financial Position (millions of yen) As of March 31, 2026 As of June 30, 2026 (Assets) Current Assets Cash and cash equivalents 68,679 58,321 Trade and other receivables 157,430 159,945 Inventories 153,504 174,468 Biological assets 38,291 39,897 Other financial assets 7,337 16,097 Other current assets 13,061 13,602 Total Current Assets 438,302 462,330 Non-current Assets Property, plant and equipment 376,092 375,187 Right-of-use assets 44,946 44,519 Biological assets 1,412 1,445 Intangible assets and goodwill 39,074 40,150 Investments accounted for using the equity method 12,448 11,930 Other financial assets 31,868 31,582 Deferred tax assets 28,429 27,751 Other non-current assets 24,906 24,736 Total Non-current Assets 559,175 557,300 Total Assets 997,477 1,019,630 (Liabilities and Equity) Current Liabilities Interest-bearing liabilities 47,949 72,705 Trade and other payables 114,173 122,575 Income taxes payable 15,514 10,758 Other financial liabilities 11,185 9,102 Other current liabilities 58,245 55,819 Total Current Liabilities 247,066 270,959 Non-current Liabilities Interest-bearing liabilities 180,599 180,278 Retirement benefit liabilities 11,568 11,744 Other financial liabilities 1,227 1,223 Deferred tax liabilities 344 422 Other non-current liabilities 4,981 4,981 Total Non-current Liabilities 198,719 198,648 Total Liabilities 445,785 469,607
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6 (millions of yen) As of March 31, 2026 As of June 30, 2026 Equity Common stock 36,294 36,294 Capital surplus 70,326 70,354 Retained earnings 414,070 380,027 Treasury stock, at cost (30,542) (1,727) Accumulated other comprehensive income 46,792 48,969 Total Equity Attributable to Owners of the Parent 536,940 533,917 Non-controlling Interests 14,752 16,106 Total Equity 551,692 550,023 Total Liabilities and Equity 997,477 1,019,630 (Note) Breakdown of accumulated other comprehensive income As of March 31, 2026 As of June 30, 2026 Financial assets measured at fair value through other comprehensive income 12,036 11,591 Exchange differences on translation of foreign operations 34,756 37,378
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7 (2) Consolidated Statements of Income (millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Net Sales 354,141 384,946 Cost of Goods Sold 288,357 319,106 Selling, General and Administrative Expenses 47,523 48,604 Other Income 1,965 4,078 Other Expenses 1,563 1,951 Financial Income 1,186 786 Financial Costs 1,174 986 Share of profit (loss) in Investments Accounted for Using the Equity Method (257) (640) Profit before Tax 18,418 18,523 Income Tax Expense 5,863 6,313 Profit 12,555 12,210 Profit Attributable to: Owners of the Parent 11,417 10,772 Non-controlling Interests 1,138 1,438 Profit 12,555 12,210 Earnings per Share Earnings per share (basic) 115.40 yen 114.46 yen (Note) Diluted earnings per share is not presented as no potential shares with dilutive effect existed.
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8 (3) Consolidated Statements of Comprehensive Income (millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Profit 12,555 12,210 Other Comprehensive Income (Loss) Items that will not be reclassified subsequently to profit or loss Remeasurement of defined benefit plans (31) － Financial assets measured at fair value through other comprehensive income 1,811 (216) Share of other comprehensive income of investments accounted for using the equity method 1 0 Total 1,781 (216) Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations (2,314) 2,532 Share of other comprehensive income of investments accounted for using the equity method (258) 121 Total (2,572) 2,653 Total Other Comprehensive Income (Loss) (791) 2,437 Comprehensive Income 11,764 14,647 Comprehensive Income Attributable to: Owners of the Parent 10,600 13,183 Non-controlling Interests 1,164 1,464 Comprehensive Income 11,764 14,647
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9 (4) Consolidated Statements of Changes in Equity Three months ended June 30, 2025 (millions of yen) Equity attributable to owners of the parent Non- controlling interests Total equityCommon stock Capital surplus Retained earnings Treasury stock Accumulated other comprehensive income Total Remeas- urement of defined benefit plans Financial assets measured at fair value through other comprehen- sive income Exchange differences on translation of foreign operations Subtotal Balance as of April 1, 2025 36,294 71,026 387,789 (776) － 8,709 21,251 29,960 524,293 12,779 537,072 Profit 11,417 － 11,417 1,138 12,555 Other comprehensive income (31) 1,809 (2,595) (817) (817) 26 (791) Comprehensive income － － 11,417 － (31) 1,809 (2,595) (817) 10,600 1,164 11,764 Dividends (13,356) － (13,356) (82) (13,438) Acquisition of treasury stock (1) － (1) (1) Disposal of treasury stock 14 101 － 115 115 Share-based payment transactions 24 － 24 24 Transfer of accumulated other comprehensive income to retained earnings 423 31 (454) (423) － － Total transactions with owners － 38 (12,933) 100 31 (454) － (423) (13,218) (82) (13,300) Balance as of June 30, 2025 36,294 71,064 386,273 (676) － 10,064 18,656 28,720 521,675 13,861 535,536
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10 Three months ended June 30, 2026 (millions of yen) Equity attributable to owners of the parent Non- controlling interests Total equityCommon stock Capital surplus Retained earnings Treasury stock Accumulated other comprehensive income Total Remeas- urement of defined benefit plans Financial assets measured at fair value through other comprehen- sive income Exchange differences on translation of foreign operations Subtotal Balance as of April 1, 2026 36,294 70,326 414,070 (30,542) － 12,036 34,756 46,792 536,940 14,752 551,692 Profit 10,772 － 10,772 1,438 12,210 Other comprehensive income (211) 2,622 2,411 2,411 26 2,437 Comprehensive income － － 10,772 － － (211) 2,622 2,411 13,183 1,464 14,647 Dividends (15,062) － (15,062) (110) (15,172) Acquisition of treasury stock (1,199) － (1,199) (1,199) Disposal of treasury stock (0) 27 － 27 27 Cancellation of treasury stock (29,987) 29,987 － － － Share-based payment transactions 28 － 28 28 Transfer of accumulated other comprehensive income to retained earnings 234 (234) (234) － － Total transactions with owners － 28 (44,815) 28,815 － (234) － (234) (16,206) (110) (16,316) Balance as of June 30, 2026 36,294 70,354 380,027 (1,727) － 11,591 37,378 48,969 533,917 16,106 550,023
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11 (5) Consolidated Statements of Cash Flows (millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Cash Flows from Operating Activities Profit before tax 18,418 18,523 Depreciation and amortization expense 11,156 11,062 Impairment losses (reversal of impairment losses) 67 14 Decrease (increase) in fair value of biological assets (1,156) (30) Financial income and costs (12) 200 Decrease (increase) in trade and other receivables (2,018) (2,301) Decrease (increase) in inventories (9,878) (20,640) Decrease (increase) in biological assets (2,075) (1,239) Decrease (increase) in other assets 224 (438) Increase (decrease) in trade and other payables 9,442 8,215 Increase (decrease) in other liabilities 3,527 (2,649) Others–net (1,712) 1,266 Interest received 471 309 Dividends received 238 208 Interest paid (376) (541) Income tax paid (4,535) (9,998) Cash Flows from Operating Activities 21,781 1,961 Cash Flows from Investing Activities Acquisition of fixed assets (9,160) (10,506) Proceeds from sales of fixed assets 437 183 Decrease (increase) in time deposits (223) 0 Acquisition of other financial assets (7) (384) Sale and redemption of other financial assets 1,033 400 Purchase of investments accounted for using the equity method (40) － Others–net (164) (287) Cash Flows from Investing Activities (8,124) (10,594) Cash Flows from Financing Activities Cash dividends (13,438) (15,172) Increase (decrease) in short-term bank loans (12,363) 25,885 Proceeds from debt 20,758 － Repayments of debt (11,522) (3,478) Payments for acquisition of treasury stock (1) (10,001) Proceeds from sales of treasury stock 102 － Cash Flows from Financing Activities (16,464) (2,766) Effect of Exchange Rate Changes on Cash and Cash Equivalents (933) 532 Hyperinflation Adjustment 330 509 Net Increase (decrease) in Cash and Cash Equivalents (3,410) (10,358) Cash and Cash Equivalents at the Beginning of the Period 71,557 68,679 Cash and Cash Equivalents at the End of the Period 68,147 58,321
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12 (6) Note on the Premises of a Going Concern Not applicable. (7) Significant Matters Forming the Basis for Preparing Consolidated Financial Statements The condensed quarterly consolidated financial statements have been prepared in accordance with Article 5, Paragraph 2 of the Standards for the Preparation of Quarterly Financial Statements, etc. of the Tokyo Stock Exchange, Inc. However, some disclosures in IAS 34 "Interim Financial Reporting" have been omitted in accordance with Article 5, Paragraph 5 of the Standards for the Preparation of Quarterly Financial Statements, etc. (8) Notes to Consolidated Financial Statements Segment information Information regarding the reportable segments The Group categorizes the reportable segments mainly according to the nature of products and services, and manages its operations. In April 2026, the Group established the "Sports & Entertainment Business Division" and implemented an organizational restructuring to place the existing Ballpark Business under its umbrella. Accordingly, from the first quarter of the fiscal year, the classification of reportable segments has been changed to the "Sports & Entertainment Business Division." In addition, due to a change in the scope of business divisions included in corporate overhead expenses, the amount of these expenses allocated to each reportable segment has also been changed. Additionally, amounts for the cumulative first quarter of the year ended March 31, 2026 have been reclassified based on the new reportable segment information. Processed Foods Business Division — Mainly domestic and overseas production and sales of hams and sausages, processed foods, and dairy products Fresh Meats Business Division — Mainly domestic and overseas production and sales of fresh meats Sports & Entertainment Business Division — Mainly professional baseball-related entertainment, stadium operations, and overall ballpark management The Group consists of 65 subsidiaries and 7 associates and joint ventures.
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13 Three months ended June 30, 2025 (millions of yen) Processed Foods Business Division Fresh Meats Business Division Sports & Entertainment Business Division Total Eliminations, adjustments and others Consolidated Net sales Sales to external customers 106,380 236,802 10,385 353,567 574 354,141 Intersegment sales 22,646 13,485 698 36,829 (36,829) － Total 129,026 250,287 11,083 390,396 (36,255) 354,141 Segment profit 866 12,676 3,800 17,342 (1,101) 16,241 Three months ended June 30, 2026 (millions of yen) Processed Foods Business Division Fresh Meats Business Division Sports & Entertainment Business Division Total Eliminations, adjustments and others Consolidated Net sales Sales to external customers 109,666 263,977 11,850 385,493 (547) 384,946 Intersegment sales 22,523 16,828 694 40,045 (40,045) － Total 132,189 280,805 12,544 425,538 (40,592) 384,946 Segment profit 746 15,264 4,911 20,921 (1,506) 19,415 (Notes) 1. "Eliminations, adjustments and others" includes unallocated items and intersegment eliminations. 2. Except for a few unallocated items, corporate overhead expenses and profit or loss of certain subsidiaries are allocated to each reportable operating segment. These subsidiaries provide indirect services and operational support for the Group included in each reportable operating segment. 3. "Segment profit" is calculated by deducting cost of goods sold and selling, general and administrative expenses from net sales, and accounting for foreign exchange gains and losses determined by the Group, while deducting adjustments in accordance with IFRS Accounting Standards and non-recurring items.