Slides
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Consolidated Financial Results FY2025 February 13, 2026 President & CEO Jun Kawakami SEVP, Global Product Unit Leader Kiyoshi Ogata
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 2© 2025 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. This material has been prepared solely for the purpose of providing relevant information regarding Rigaku Holdings Corporation (“Rigaku” or the “Company”) and does not constitute an offer to sell or the solicitation of an offer to buy any security in the United States, Japan or any other jurisdiction. The information contained in this material is based on the economic, regulatory, market and other conditions available to the Company on the date hereof, and the Company does not make any representations, warranties or guarantees with respect to the truthfulness, accuracy or integrity of such information. The information contained in this material may be changed without prior notice. This material contains statements that constitute forward-looking statements, including estimates, prospects, plans and targets. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, the Company uses such words as “expectation,” “forecast,” “anticipation,” “intention,” “plan,” “possibility” and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Any forward-looking statements in this material are based on certain assumptions, beliefs and forecasts of the Company on basis of information available to the Company at the time such statements were made, and involve known and unknown uncertainties, risks and other factors, including, but not limited to, adverse changes in demand for X-ray analytical instruments, global economic conditions, the reputation of the Company’s brand, products and services, intense competition in the markets in which the Company operates, risks associated with international business operations, risks related to inflation, fluctuations in currency exchange rates, fluctuations in labor cost, changes in or the introduction of new laws and regulations, the Company’s ability to execute its strategies to grow its business, the protection of personal and confidential information, legal proceedings, the occurrence of large-scale disasters and other factors. Such risks, uncertainties and other factors may cause the Company’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking statements. The Company’s fiscal year ends on December 31. The Company adopted International Financial Reporting Standards (“IFRS”) from the year ended December 31, 2023, using a transition date of January 1, 2022. This material contains non-IFRS financial measures of the Company, including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Profit, Adjusted Operating Profit Margin, R&D Ratio, CAPEX ratio, Adjusted Profit and Free Cash Flow. These non-IFRS financial measures should not be considered in isolation or as a substitute for the most directly comparable financial measures presented in accordance with IFRS or accounting principles generally accepted in other jurisdictions, including J-GAAP and U.S. GAAP. The Company’s use, definition and calculation of its non-IFRS measures may differ significantly from, and therefore may not be directly comparable to, similarly titled measures of other companies. Please refer to the calculation tables in the Appendix for details. This material also contains financial and operating data prepared on a management accounting basis, such as revenue and operating profit by product categories and revenue by end markets. This information is not prepared in accordance with J-GAAP or IFRS and is unaudited. This material contains statements as of the date stated on this material (or any other date separately specified herein), and the Company neither adopts a policy of, nor assumes any responsibility for, keeping such information updated. Therefore, future prospects will not necessarily coincide with actual results. Information regarding companies other than the Company contained in this material is extracted from publicly available information, and the Company has not verified and cannot guarantee the accuracy or adequacy of such Information.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 【Agenda】 1. Overview of FY2025 Consolidated Financial Results 2. FY2026 Earnings Forecast and Business Strategy 3© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 1. Overview of FY2025 Consolidated Financial Results 4© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Highlights of FY2025 Consolidated Financial Results ◼ Q4 revenue growth strongly driven by Semiconductor Process Control Instruments. Full-year revenue in line with earnings forecast, representing +4% YoY ◼ Adjusted EBITDA and Adjusted Profit in Q4 improved due to higher revenue. Whilst full-year Adj. EBITDA/ Profit declined YoY due to strategic investments in manufacturing capacity expansion and R&D and weaker product / region mix Overall Semiconductor Process Control Instruments ◼ Successful closure of high-margin projects led Q4 revenue increase, slightly exceeding initial expectations ◼ Full-year revenue increased +19% YoY by effectively capturing demand shift from mass production to advanced technology development ◼ Announced new product lineup in accordance with progress in JEP(1), establishing foundation for growth in FY2026 and after Multipurpose Analytical Instruments ◼ Q4 revenue achieved as expected through lead time improvement and on-schedule project deliveries ◼ Despite of headwinds due to market cycle and U.S. policy, full-year revenue largely achieved forecast level ((2)% YoY) through 2H growth in Europe, Japan and China 5© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Note: 1. Joint Evaluation Program refers to customer evaluations conducted prior to equipment sales; assets are reclassified from fixed assets to cost of goods sold upon sale
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 13.3 9.2 8.9 8.3 13.9 7.3 6.1 4.6 4.2 12.7 7.3 5.1 6.5 6.1 8.028.0 20.6 20.1 18.7 34.6 -2.0 3.0 8.0 13.0 18.0 23.0 28.0 33.0 38.0 Q4 Q1 Q2 Q3 Q4 FY2024 FY2025 7.9 4.0 4.0 2.1 11.4 28.2% 19.6% 20.0% 11.7% 33.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 2 4 6 8 10 12 14 Q4 Q1 Q2 Q3 Q4 FY2024 FY2025 Summary of FY2025 Consolidated Financial Results (by Quarter)(1) Notes: 1. Revenue figures are rounded down and may not equal the sum of segments 2. Details of the adjustment items related to the calculation of non-IFRS metrics are provided on pages 30 and 31 5.1 2.2 2.1 0.8 7.4 18.3% 11.0% 10.7% 4.5% 21.5% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 0 2 4 6 8 10 12 14 Q4 Q1 Q2 Q3 Q4 FY2024 FY2025 Components and Services Semiconductor Process Control Instruments Multipurpose Analytical Instruments ◼ Q4 revenue increased sharply as expected, resulting in significant improvement in Adjusted EBITDA and Adjusted Profit Revenue Adjusted EBITDA(2) Adjusted Profit(2) 6© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (JPY Bn)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 ◼ Revenue increased +4% YoY, in line with guidance ◼ Adjusted EBITDA and Adjusted Profit declined YoY and were below forecast due to strategic investments for manufacturing capacity expansion and R&D, in addition to product / regional mix changes (details to follow) Summary of FY2025 Cumulative Consolidated Financial Results 41.3 40.4 23.3 27.8 25.9 25.9 90.6 94.1 0 20 40 60 80 100 FY2024 FY2025 23.4 21.7 25.9% 23.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 0 5 10 15 20 25 30 FY2024 FY2025 15.3 12.7 17.0% 13.5% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 0 2 4 6 8 10 12 14 16 18 FY2024 FY2025 YoY: (7)% YoY: (17)%YoY: +４% Revenue Adjusted EBITDA(1) Adjusted Profit(1) Components and Services Semiconductor Process Control Instruments Multipurpose Analytical Instruments Vs. Forecast - JPY (0.1) Bn +JPY 0.2 Bn - Vs. Forecast (1.5) pts JPY (1.4) Bn Vs. Forecast (1.0) pts JPY (0.9) Bn 7© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (JPY Bn) Note: 1. Details of the adjustment items related to the calculation of non-IFRS metrics are provided on pages 30 and 31
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 18.7 17.9 5.9 4.9 3.6 4.5 12.9 12.9 41.3 40.4 -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 0 10 20 30 40 50 FY2024 FY2025 Academia/Government Semiconductor/Electronic Components Life Science Others 11.1 11.5 8.8 7.7 6.4 8.1 5.5 5.7 9.2 7.1 41.3 40.4 17.4% 15.4% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 0 10 20 30 40 50 FY2024 FY2025 Japan Americas Europe Asia (excl China) China OP Margin Multipurpose Analytical Instruments Business Japan: Revenue increased +41% YoY in Q4 (October-December), resulting in full year growth of +3% YoY Europe: Academia-driven R&D demand contributed towards share gains and +27% YoY growth Americas/China: Americas declined (13%) YoY due to academia budget cuts. China declined (23)% YoY due to absence of China supplementary budget projects Life Science revenue increased by capturing demand in chemical and U.S. pharma; Semiconductor and Electronic Components declined due to SiC market change Profitability(1): Gross margin were almost flat. Operating margin declined due to lower revenue and strategic investments, contained within 2 pts 5 2 21 4 2 1 3 Note; 1. From Q1 FY2025, certain field service–related costs were reclassified from SG&A to cost of sales; prior-year figures have been retrospectively adjusted Revenue by End MarketsRevenue by Region (JPY Bn)(JPY Bn) 3 3 4 5 8© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. ◼ Despite challenging environment due to market cyclicality (absence of China supplementary budget projects and high demand in SiC) and U.S. policy impact, revenue in FY2025 remained (2)% YoY due to H2 growth in Europe, Japan and China
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 3.5 6.7 9.7 7.2 1.1 1.65.1 9.03.8 3.123.3 27.8 FY2024 FY2025 Japan Americas Europe Asia (excl China) China Semiconductor Process Control Instruments Business ４ ① Logic: Revenue declined in Americas, however expanded in Asia / Japan ② Memory: Strong revenue growth driven by DRAM and NAND in Asia, in both mass production and R&D ③ WFE：Q4 / full-year revenue increased significantly due to next-gen technology development projects ④ Although gross / operating margin declined YoY due to product and regional mix effects, maintained 29% operating margin through business growth 2 1 ３ 2 1 8.2 5.8 2.3 7.2 5.4 7.11.5 2.33.9 1.92.0 3.223.3 27.8 31.7% 29.0% FY2024 FY2025 Advanced Logic/Foundry Memory WFE Power Device Others Parts & Services OP Margin ３ 1 2 4 4 Revenue by RegionRevenue by Applications ３ 9© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (JPY Bn)(JPY Bn) Note: 1. From Q1 FY2025, certain field service–related costs were reclassified from SG&A to cost of sales; prior-year figures have been retrospectively adjusted ◼ Successful closures of next-generation technology development products and large projects led to significant volume increase in Q4 ◼ Achieved continued strong full-year growth (+19% YoY) by successfully captured demand shift from mass production to R&D (1)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 15.9 15.2 9.9 10.7 25.9 25.9 23.9% 19.8% -22.0% -17.0% -12.0% -7.0% -2.0% 3.0% 8.0% 13.0% 18.0% 23.0% 0 5 10 15 20 25 30 35 FY2024 FY2025 Components and other equipments Services OP Margin 9.6 9.2 9.1 8.3 3.4 4.0 1.7 2.01.9 2.2 25.9 25.9 FY2024 FY2025 Japan Americas Europe Asia (excl China) China ◼ Revenue remained flat YoY; +4% excluding EUV multilayer mirrors ◼ Service revenue increased +8% YoY ① Revenue of EUV multilayer mirrors declined (JPY(1) Bn) due to weak demand. Excluding EUV, revenue increased by JPY0.3 Bn, as higher sales of other analytical instruments (thermal analysis, PCI and portable raman spectroscopy) has offset decline in component sales resulting from strategic shift ② Services continued to grow due to price increases, expanded global maintenance contracts, and a growing installed base ③ Margin declined due to unfavorable product mix resulting from lower EUV sales, as well as reduced service margin impacted by U.S. policy changes 3 2 1 3 2 1 Components and Services Business 1 Revenue by RegionRevenue from Components and Services Revenue 10© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (JPY Bn)(JPY Bn)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Vs. FY2024 25.9% 23.0% +0.7% (0.9)% (0.8)% (0.6)% (0.7)% (0.5)% FY2024 Increased Semiconductor Revenue Increased COGS Components & Services Semiconductor Mix SG&A (indl. R&D) Onetime FX Loss FY2025 Comparison of Adjusted EBITDA: FY2025 vs. FY2024 GM％: (1.6)pts SG&A and Other Expenses: (1.2)pts Profit growth from increased semiconductor process control revenue mix Outlook Capacity investment not fully offset by volume growth GM declined due to lower EUV and U.S. services revenue GM declined due to changes in Semiconductor revenue mix Continued R&D investment and higher sales commission Onetime FX valuation loss Semiconductor revenue mix continues to increase Investment costs recovered through volume growth and pricing revisions Less impact due to EUV in future New Semiconductor Process Control products to improve mix and GM% Continuous control of SG&A expense (excl. R&D) 11© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Adjusted EBITDA Margin Analysis (YoY) (Vs. Revenue) +Adjustments(1) Note: 1. Adjustment from Operating Profit to Adjusted EBITDA
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 2. FY2026 Earnings Forecast and Business Strategy 12© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 FY2026 Earnings Forecast FY2025 FY2026(1) Actual Forecast Revenue (YoY Growth) JPY 94.1 Bn 3.9% JPY 101.0 Bn 7.2% Adjusted EBITDA (Adjusted EBITDA Margin) JPY 21.8 Bn 23.0% JPY 25.3 Bn 25.1% Adjusted Operating Profit (Adj. Operating Profit Margin) JPY 18.6 Bn 19.8% JPY 21.5 Bn 21.3% Adjusted Profit (Adjusted Profit Margin) JPY 12.7 Bn 13.5% JPY 13.9 Bn 13.8% Adjusted ROE 14.9% 15.0% R&D Ratio 7.8% 8.5% CAPEX Ratio 7.1% 7.7% Number of Employees 2,226 2,351 Dividend Per Share JPY 18.8 JPY 19.0 JPY/USD JPY 149.8 JPY 145 JPY/EURO JPY 169.5 JPY 165 Overall Multipurpose Analytical Instruments Semiconductor Process Control Instruments ◼ Revenue expected to increase +9%(2) in-line with Mid-term Business Plan ◼ Strategy to improve Adj. EBITDA / OP / Profit margin by expanding GP margin absorbing higher SG&A including R&D expense remains unchanged ◼ Continue to pursue to achieve Mid-term Business Plan targets in 2027 ◼ Whilst rapid recovery in U.S. Academia is not assumed, 4% (2) growth forecasted as global market returns to stable growth – Revenue growth in Americas and China; Flat in Japan and Europe YoY – Growth in industrial applications to offset weakness in Academia – Revenue growth and gross margin expansion through product mix changes and pricing initiatives ◼ +21% revenue growth driven by strong AI application semiconductor demand(2) ◼ New products to increase 2.2x; AI application ratio to reach 71% ◼ Gross margin to expand +2.0 pts driven by higher contribution of new product 13© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Notes: 1. USD FX sensitivity: approx. JPY 0.2bn in revenue and approx. JPY 0.04bn in operating profit (including valuation impact on USD-denominated borrowings from U.S. subsidiaries); EUR FX sensitivity: approx. JPY 0.07bn in revenue and approx. JPY 0.03bn in operating profit 2. Assumes exchange rates equivalent to the prior fiscal year
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 17.9 4.9 4.5 12.9 40.4 41.5 (5) 5 15 25 35 45 55 FY2025 FY2026E Academia/Government Semiconductor/Electronic Components Life Science Others Industry- Related Revenue YoY: +11% ① Regional Trend: Americas to return to FY2024 level; China to return to growth phase ② End-market mix: Resource shift toward industrial applications (e.g., Semiconductor and Electronic Components) to offset weaker academia demand ③ Gross margin improved by 1.8 pts from FY2025, driven by pricing actions and improved product mix, including higher sales related to Semiconductor/Electronic Components. Operating profit declined slightly due to continued investment in overseas commercial infrastructure and R&D Revenue by Region Business Strategy: Multipurpose Analytical Instruments Business ◼ Continue to gain overseas market shares driven by demand shift toward industrial applications and strong MI (Material Informatics) demand as global market returns to stable growth; Overseas revenue to increase +6%(1) Revenue by End-Markets ４３ 2 1 (JPY Bn) 14© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (JPY Bn) 11.5 7.7 8.1 5.7 7.1 40.4 41.5 15.4% 14.9% 0.0% 4.0% 8.0% 12.0% 16.0% (5) 5 15 25 35 45 55 FY2025 FY2026E Japan Americas Europe Asia (excl China) China OP Margin 1 3 Overseas Revenue YoY: +6%(1) Note: 1. Compared on a prior-year exchange rate basis 2
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 ◼ New product revenue to increase 2.2x YoY due to strong demand for AI application semiconductors targeting 21% growth(1) Business Strategy: Semiconductor Process Control Instruments Business ① Memory to lead growth; logic also to show double-digit growth mainly for next-generation development; WFE remains strong ② Regions: Balanced growth across Japan, the Americas, and Asia. China also expected to increase ③ Mix improvement due to higher sales of high-value new products; Gross margin and operating margin to recover by approx. 2pts４３ 2 1 15© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Note: 1. Compared on a prior-year exchange rate basis 5.8 7.2 7.1 2.3 1.9 3.2 27.8 33.3 29.0% 31.4% 0 5 10 15 20 25 30 35 40 45 50 FY2025 FY2026E Advanced Logic/Foundry Memory WFE Power Device Packaging Others Parts & Services OP Margin 6.7 7.2 1.6 9.0 3.1 27.8 33.3 FY2025 FY2026E Japan Americas Europe Asia (excl China) China Japan, Americas and Asia, YoY: +25% YoY: +21%(1) 2 1 3 Revenue by Applications Revenue by End-Markets (JPY Bn)(JPY Bn)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 27.8 33.3 0 5 10 15 20 25 30 35 40 45 FY2025 FY2026E 27.8 33.3 0 5 10 15 20 25 30 35 40 45 FY2025 FY2026E ◼ Revenue proportion for AI application semiconductors expected to increase driven by new product launches Business Strategy: Semiconductor Process Control Instruments Business (Cont’d) Value-based YoY: 2.2x Revenue share of new products Revenue proportion for AI semiconductors No. of JEP(1) Projects Currently 12 (Expected to increase) 16© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Note: 1. Joint Evaluation Program refers to customer evaluations conducted prior to equipment sales; assets are reclassified from fixed assets to cost of goods sold upon sale (JPY Bn)(JPY Bn) Value-based YoY: 1.4x 24% 41% 60% 71% ONYX 3200 XTRAIA CD3200-T XTRAIA MF-3400 XTRAIA XD-3300 … 14 (5 projects completed during FY25)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Updates in Semiconductor Process Control Instruments Business Growth Strategy 17 Logic Advanced Packaging Hybrid Metrology Advanced Metrology Needs ▪ 3D Structure Measurement (GI-SAXS) ▪ Defect Detection in Advanced HBM / CoWoS Packages (Bumps/TSVs) ▪ Shape Measurement of 3D Logic and Memory Structures Memory Estimated SAM (Target Share) @ 2030 ▪ Si/SiGe Superlattice Analysis ▪ High-k/Metal Gate Ultrathin Film Measurement ▪ Ultrathin Film Analysis for Light Elements Logic / Memory ▪ DRAM/NAND HAR (Deep Trench) Metrology R&D and Commercialization Roadmap 2025 2026 2027 XTRAIA XD (HR-XRD) XTRAIA CD-3200T AXI(Advanced X-ray Inspection): Alpha System in Demo (Beta System Under Development) Beta System Under Customer Review T-SAXS: Hybrid engine combining X-ray and optical analysis - Under Development GI-SAXS：Planned Development XTRAIA MF- 3400(XRF/XRD Multifunction GEN4) ONYX 3200 Light-element Capability XTRAIA CD-3200G (Low Energy GI-SAXS) – Under Development Next Generation Logic Next Gen Memory Common to Next Generation Logic and Memory Mass Production Mass Production Mass Production Mass Production Mass Production XTRAIA CD-3300T (T-SAXS) Under Development Mass Production Mass Production ◼ Capturing AI-driven capacity expansion investment: 2nm logic and HBM / 3D NAND memory ramp-ups ◼ Capturing next-generation semiconductor R&D investment: ≤1nm logic, next-generation memory (including 3D DRAM), and advanced packaging ◼ New products: 2025-developed products expanded to logic & memory; light-element support; ONYX 3200 development completed; JEP launched Key Updates ▪ Accelerating GAA/CFET-ready model development (Q1 FY2027 shipment) ▪ 3200T adopted by major memory and WFE customers ▪ New 3300T for 3D DRAM under development ▪ Alpha prototype under demonstration ▪ Beta prototype under development (demo starting Q3 FY2026) ▪ Co-development with optical partners ▪ JEP ongoing with major memory customers ▪ Adopted by major logic & memory customers (6 confirmed; 3 JEP ongoing) ▪ GEN4 shipments launched; adoption by major logic & memory customers ▪ Light-element AI support; Q1 shipments to 2 major logic customers, expanding to memory © 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Est. Total SAM Approx. $1.0 Bn Over 50％Rigaku’s Target Share Mass Production Target: JPY100Bn@2030 incl. existing products $100M(>70%) $300M(>30%) New Market $100M(>50%) New Market $100M(>50%) $200M(>70%) New Market $100M(>50%) $100M(>50%)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 X-Ray Beam Module “COLORS-t W Mα” Updates in Semiconductor Process Control Instruments Business (Cont’d) ◼ Developed high-throughput, high precision measurement technology for AI-O dipole layer thickness in multilayer stacks – critical for GAA/CFET performance and reliability ◼ Shipped to two advanced logic customers in 2026, planning to roll out to memory customers Ultrathin Light-Element Film Measurement：ONYX 3200 Schematic structure of advanced GAA/CFET transistors Gate Metals (Incl. W) Work Function Metal (e.g. TiN) High-k Dielectric (e.g. HfO2) Dipole Layer (Al-O) Interfacial Layer (SiO2) Si Channel 18© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. ▪ New X-ray beam module “COLORS-t W Mα” enables high-precision thickness measurement of light-element Al films ▪ Current XPS: UHV, surface-only → low throughput; Al in multilayers not measurable (Existing constraint) ▪ ONYX 3200: In the atmosphere, multilayer measurement → high throughput; Al in multilayers measurable (ONYX 3200)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 23.0% 25.1% +0.6% (0.6)% +2.3% (0.9)% +0.7% FY2025 Actual Increased Semiconductor Revenue Increased COGS Pricing / Product Mix SG&A (Incl. R&D) Onetime FX Loses FY2026 Forecast Adjusted EBITDA Comparison: FY2026 Forecast vs. FY2025 Actual Adjusted EBITDA Margin Analysis (YoY) GM％: +2.2pts SG&A and Other Expenses: (0.2) pts Key Drivers of Adjusted EBITDA Improvement Continued increase in revenue share of Semiconductor Process Control Instruments (1) (1) Volume growth and tight control of other manufacturing costs offsetting impact of higher fixed costs in COGS Onetime FX valuation loss in FY2025 (The forecast assumes no valuation gains or losses) Tight control of SG&A excluding R&D Improved overall profitability driven by better product mix and pricing actions, alongside a higher share of high-GM new semiconductor products 19© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (Vs. Revenue) Note: 1. Includes a reclassification of service technical support costs equivalent to +0.3% from cost of sales to SG&A expenses 2. Adjustment from Operating Profit to Adjusted EBITDA +Adjustments(2)
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 10.2 10.7 6.9 13.3 9.2 8.9 8.3 13.9 2.8 6.4 6.7 7.3 6.1 4.6 4.2 12.7 6.3 6.0 6.1 7.3 5.1 6.5 6.1 8.0 19.5 23.2 19.8 28.0 20.6 20.1 18.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2024 FY2025 FY2026E ◼ FY2025 Q4 revenue marked the highest quarter revenue level ◼ After a moderate start in Q1, expect to reach prior-year level in H1, and accelerate to +14% YoY growth in H2 ◼ Q4 revenue is expected to be the peak in FY2026 as well, however as Q2~Q3 are expected to exceed the prior year, quarterly fluctuation (Q3 → Q4) to return to FY2024 level (FY2025 +84% → FY2026 within 40% range) (JPY Bn) Actual Forecast FY2026 Earnings Forecast – Quarterly Revenue Change Q3→Q4: +41％ Change Q3→Q4: +84％ Change Q3→Q4:+40% range 34.6 20© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Quarterly Revenue Trend / Forecast Components and Services Semiconductor Process Control Instruments Multipurpose Analytical Instruments
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Dividend Payout and Cash Dividends Shareholder Return Dividend Trend(1) 9.4 9.5 3.0 9.4 9.5 JPY 3.0 JPY 18.8 JPY 19.0 5.0% 37.5% 34.4% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 FY2024 FY2025 FY2026E Interim Year-End Payout ratio EPS JPY 60.44 JPY 50.19 JPY 55.27 Share Repurchase(2) Adjusted Return on Equity (ROE)(3) 21.9% 20.9% 14.9% 15.0% FY2023 FY2024 FY2025 FY2026E ◼ Dividend Payout Maintain our fundamental policy of targeting 30% payout ratio based on each period earnings, while balancing growth investments and financial soundness from mid-to-long term perspective ◼ Cash Dividends FY2025: JPY 18.8 (Interim: JPY 9.4 / Year-End: 9.4), in line with initial forecast FY2026 (Forecast): JPY 19.0 (Interim: JPY 9.5 / Year-End: 9.5) During FY2025, as part of initiatives to enhance sustainable corporate value and strengthen shareholder returns, the Company conducted Share repurchase ◼ Repurchased 4,284,500 shares (Approx. JPY 4.0 Bn) ◼ Resolved to cancel all of above shares at BoD on Jan 28, 2026 Notes: 1. FY2024/12 dividend corresponds to 2 months following the company’s listing in October 24, 2024 2. Based on the timely disclosure “Notice Regarding the Status of Share Repurchase” released on December 24, 2025, and “Notice Regarding Cancellation of Treasury Shares” released on January 28, 2026 3. ROE = Adjusted net income after tax / average equity (based on beginning and ending balance) 21© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 33% 43% 30% 27% 32% 26% 30% 42% Conclusion 46% 26% 28％ 34% 36% 30% +25% +19% +21％ ◼ Semiconductor Process Control Instruments emerges as core profit pillar as a result of progress in Mid-term Management Plan Outer：Revenue Composition Inner: Operating Profit Composition ◼ Semiconductor Process Control Instruments: Continuing growth above Mid-term Management Plan at high margin FY2024 FY2025 FY2026E 26% 36% Semiconductor Process Control Instruments Multipurpose Analytical Instruments Components and Services 22© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. 32% 29% 31%OP Margin YoY Revenue Growth Rate Growth Rate based on Mid-Term Management Plan CAGR +18％ (1) Note: 1. Compared on a prior-year exchange rate basis 41% 26% 29% 22% 49%
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Appendix 23© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Vs. Forecast 24.5% 23.0% +0.1% (1.2)% (0.9)% +1.0% (0.4)% FY2025 Forecast Increased Semiconductor Revenue Increased COGS Pricing / Product Mix SG&A (Incl. R&D) Onetime FX Losses FY2025 Actual Adjusted EBITDA: FY2025 Actual vs. FY2025 Forecast Adjusted EBITDA Margin Analysis (YoY) GM％: (2.1)pts SG&A and Other Expenses: +0.6pts Manufacturing cost increase not fully offset by recovery measures Main factors include changes in semiconductor project mix and installation costs, as well as price competition due to weakening demand in academia market within multi-purpose analytical instruments Profit uplift from optimized R&D timing and tighter SG&A control (incl. travel and advertising) Onetime FX valuation loss 24© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (Vs. Revenue) +Adjustments(1) Note: 1. Adjustment from Operating Profit to Adjusted EBITDA
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 (For Reference) Agenda Items for 5th Annual General Meeting of Shareholders (To be held on March 25, 2026) Agenda Agenda Item 1 Agenda Item 2 Agenda Item 3 • Appointment of 7 Directors • Appointment of 2 Corporate Auditors • Determine the Total Compensation of Corporate Auditors Notes • Appointment of 5 independent directors and 2 directors / executive officers • Among the independent directors, 1 retirement and 1 new appointment • 1 full-time corporate auditor to retire and 2 new full-time corporate auditors to be appointed • Strengthened to a four-member structure (2 full-time, 2 part-time) • In line with strengthening corporate auditor structure, the annual total compensation to be capped at JPY 80 Mn (previously at JPY 50 Mn) Agenda Item 4 • Approval of Post-Delivery Equity Compensation Plan for Directors (Excluding Outside Directors) • With the introduction of a post-delivery equity compensation plan, the annual compensation for eligible directors up to JPY 0.2 billion (100,000 shares to be granted at maximum) 25© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 FY2026E (JPY Bn) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY Revenue 10.2 10.7 6.9 13.3 41.3 9.2 8.9 8.3 13.9 40.4 41.5 Operating Profit 2.1 1.6 0.0 3.2 7.1 1.2 1.3 0.4 3.1 6.2 6.2 Operating Margin 21.2% 15.6% 0.6% 24.7% 17.4% 13.6% 15.0% 5.4% 22.7% 15.4% 14.9% Revenue 2.8 6.4 6.7 7.3 23.3 6.1 4.6 4.2 12.7 27.8 33.3 Operating Profit 0.4 2.2 2.7 1.9 7.4 1.6 0.8 0.0 5.6 8.0 10.4 Operating Margin 14.6% 35.3% 41.0% 26.8% 31.7% 26.3% 17.9% - 44.7% 29.0% 31.4% Revenue 6.3 6.0 6.1 7.3 25.9 5.1 6.5 6.1 8.0 25.9 26.0 Operating Profit 1.2 2.0 1.1 1.7 6.1 0.5 1.5 1.1 1.8 5.1 4.7 Operating Margin 19.4% 33.4% 19.0% 24.0% 23.9% 11.2% 23.3% 19.0% 23.2% 19.8% 18.3% Revenue 19.5 23.2 19.8 28.0 90.6 20.6 20.1 18.7 34.6 94.1 101.0 Operating Profit 3.1 5.5 3.1 6.5 18.3 2.8 2.8 0.8 10.1 16.7 19.4 Operating Margin 16.3% 23.7% 16.0% 23.2% 20.3% 13.8% 14.3% 4.5% 29.2% 17.7% 19.3% Consolidated Total FY2024 Semiconductor Process Control Instruments Multipurpose Analytical Instruments Components and Services FY2025 Profit & Loss by Product (Management Accounting Basis)(1) 26© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Note: 1. This information is provided for investors’ reference and does not take into account impact of corporate headquarter expenses. Therefore, the consolidated operating profit does not equal the sum of each category
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 (JPY Bn) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Japan 7.7 5.8 4.3 6.3 24.3 7.7 4.1 4.8 10.7 27.4 Americas 4.8 6.5 7.1 9.1 27.7 4.5 5.9 4.0 8.9 23.4 EMEA 2.0 3.6 1.7 3.6 11.0 2.7 3.8 2.6 4.6 13.8 Asia (ex. China) 1.9 2.1 3.4 4.8 12.4 3.1 3.0 3.7 6.9 16.8 China 2.9 5.0 3.1 4.0 15.0 2.3 3.2 3.4 3.5 12.5 Total Revenue 19.5 23.2 19.8 28.0 90.6 20.6 20.1 18.7 34.6 94.1 FY2024 FY2025 (JPY Bn) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Semiconductor/ Electronic Components 4.8 9.7 8.1 9.7 32.4 7.7 6.1 4.9 14.3 33.3 Life Science 1.1 0.9 0.8 1.4 4.3 0.9 0.8 1.3 1.9 5.0 Other Industries 4.7 3.2 3.3 5.0 16.4 3.4 3.5 3.5 5.1 15.7 Academia/Governments 5.5 5.9 4.1 8.3 23.9 4.6 5.9 5.1 9.1 24.8 Services 3.2 3.2 3.3 3.5 13.5 3.7 3.6 3.7 4.1 15.1 Total Revenue 19.5 23.2 19.8 28.0 90.6 20.6 20.1 18.7 34.6 94.1 FY2024 FY2025 Revenue Breakdown: by Region(1) and End-Market(2) Notes: 1. Calculated based on revenue from overseas customers and distributors. 2. After reclassification adjustments of end-market revenue for prior fiscal years. 27© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. End-Market Region
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Consolidated Quarterly Financial Results Notes: 1. From the 1st quarter of FY2025, the company has changed its accounting treatment to classify field service-related expenses (such as repairs and delivery at customer sites), which were previously recorded under selling, general and administrative expenses, as cost of sales. This material applies the change retrospectively to the same period of the previous fiscal year (by reclassifying JPY 2,120MM from SG&A to cost of sales) 2. Details on the adjustment items related to Non-IFRS calculations are provided on Pages 30 and 31 28© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. (2) FY2026E Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY Revenue 19.5 23.2 19.8 28.0 90.6 20.6 20.1 18.7 34.6 94.1 101.0 Gross Profit(1) 10.6 13.8 11.7 16.2 52.3 11.5 11.1 9.7 20.4 52.8 58.9 Operating Profit 3.1 5.5 3.1 6.5 18.3 2.8 2.8 0.8 10.1 16.7 19.4 Profit Before Taxes 3.0 5.4 3.0 6.4 17.9 2.7 2.7 0.6 9.8 15.9 18.4 Profit 2.1 4.3 2.4 4.6 13.6 1.9 1.8 0.4 7.1 11.4 12.5 EPS - - - - 60.44 - - - - 50.19 55.27 Non-IFRS Indicator Adjusted Operating Profit 3.7 6.1 3.7 7.2 20.9 3.3 3.3 1.3 10.6 18.6 21.5 Adjusted Profit 2.6 4.7 2.8 5.1 15.3 2.2 2.1 0.8 7.4 12.7 13.9 Adjusted EPS - - - - 66.61 - - - - 55.19 61.40 EBITDA 4.3 6.7 4.3 7.8 23.2 4.0 4.1 2.1 11.5 21.8 25.3 Adjusted EBITDA 4.3 6.7 4.4 7.9 23.4 4.0 4.0 2.1 11.4 21.7 25.3 Adjusted EBITDA Margin 22.3% 29.2% 22.3% 28.2% 25.9% 19.6% 20.0% 11.7% 33.0% 23.0% 25.1% Adjusted ROE - - - - 20.9% - - - - 14.9% 15.0% R&D Expenses 1.4 1.7 1.5 2.1 6.8 1.6 1.8 1.8 1.9 7.3 8.5 CAPEX 0.5 2.3 0.7 2.7 6.3 0.6 3.4 1.0 1.5 6.6 7.7 Depreciation 1.2 1.2 1.1 1.2 4.8 1.2 1.2 1.3 1.3 5.1 5.8 JPY/USD 149.9 154.1 151.6 152.2 152.2 151.2 147.5 147.8 149.8 149.8 145.0 JPY/EURO 162.2 166.1 164.6 164.4 164.4 159.4 162.2 165.6 169.5 169.5 165.0 (JPY Bn) FY2024 FY2025
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 (JPY Bn) FY2024 Year-end FY2025 Year-end Changes (JPY Bn) FY2024 FY2025 Changes Current Assets 71.2 76.2 5.0 Operating Cash-Flow 14.6 9.3 (5.2) Cash and Cash Equivalents 27.9 24.2 (3.7) Investing Cash-Flow (6.0) (6.6) (0.5) Inventories 21.1 20.8 (0.2) Free Cash-Flow 8.5 2.7 (5.7) Non-Current Assets 106.3 108.9 2.6 Financing Cash-Flow (2.4) (6.5) (4.1) Property, Plant & Equipment 19.2 22.6 3.3 Impact on Exchange Rate 1.3 0.1 (1.2) Intangible Assets 87.0 86.3 (0.7) Net Cash-Flow 7.4 (3.7) (11.1) Total Assets 177.5 185.2 7.6 (JPY Bn) FY2024 Year-end FY2025 Year-end Changes FY2024 FY2025 Changes Liabilities 95.7 96.8 1.0 Interest-Bearing Debt 61.6 62.1 0.5 Total Equity 81.7 88.3 6.6 Equity Ratio 46.1% 47.7% - Total Liabilities and Equity 177.5 185.2 7.6 1.4x 1.7x - Net Debt / Adjusted EBITDA (1) Consolidated B/S & C/F for FY2025 29© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. Note: 1. Figures as of the end of FY2025 (December 2025) are calculated using LTM total adjusted EBITDA B/S Cash Flow Key Indicators
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 FY2026E Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY 3.0 5.4 3.0 6.4 17.9 2.7 2.7 0.6 9.8 15.9 18.4 Depreciation and Amortization 1.2 1.2 1.1 1.2 4.8 1.2 1.2 1.3 1.3 5.1 6.9 Interest Expenses 0.1 0.1 0.1 0.1 0.6 0.2 0.2 0.2 0.3 1.1 0.0 Interest and Dividend Imcome 0.0 0.0 (0.1) (0.1) (0.3) (0.1) (0.1) (0.1) 0.0 (0.4) 0.0 Impairment Losses 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 4.3 6.7 4.3 7.8 23.2 4.0 4.1 2.1 11.5 21.8 25.3 Margin 22.2% 29.0% 22.0% 28.0% 25.7% 19.6% 20.4% 11.7% 33.2% 23.2% 25.0% Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY 4.3 6.7 4.3 7.8 23.2 4.0 4.1 2.1 11.5 21.8 25.3 Business Consulting Fee 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 China-related exemption application costs 0.0 0.0 0.0 (0.1) (0.1) 0.0 (0.0) 0.0 (0.0) (0.1) 0.0 IPO-related expenses 0.0 0.0 0.0 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Total Adjustmtents 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 (0.1) 0.0 4.3 6.7 4.4 7.9 23.4 4.0 4.0 2.1 11.4 21.7 25.3 Margin 22.3% 29.2% 22.3% 28.2% 25.9% 19.6% 20.0% 11.7% 33.0% 23.0% 25.0% EBITDA Adjusted EBITDA EBITDA Adjusted EBITDA (JPY Bn) FY2024 FY2025 EBITDA Profit Before Taxes Reconciliation of Adjusted Items (1/2) 30© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. `
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Reconciliation of Adjusted Items (2/2) 31© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED. FY2026E Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY 3.1 5.5 3.1 6.5 18.3 2.8 2.8 0.8 10.1 16.7 19.4 PPA Amortization 0.6 0.5 0.5 0.5 2.2 0.5 0.5 0.5 0.5 2.0 2.1 Business Consulting Fee 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 China-related exemption application costs 0.0 0.0 0.0 (0.1) (0.1) 0.0 (0.0) 0.0 (0.0) (0.1) 0.0 IPO-related expenses 0.0 0.0 0.0 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Impairment Losses 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Total Adjustments 0.6 0.6 0.5 0.7 2.5 0.5 0.4 0.5 0.4 1.9 2.1 3.7 6.1 3.7 7.2 20.9 3.3 3.3 1.3 10.6 18.6 21.5 Margin 19.4% 26.4% 19.0% 25.8% 23.1% 16.3% 16.5% 7.2% 30.6% 19.8% 21.3% Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY 2.1 4.3 2.4 4.6 13.6 1.9 1.8 0.4 7.1 11.4 12.5 PPA Amortization 0.6 0.5 0.5 0.5 2.2 0.5 0.5 0.5 0.5 2.0 2.1 Business Consulting Fee 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 China-related exemption application costs 0.0 0.0 0.0 (0.1) (0.1) 0.0 (0.0) 0.0 (0.0) (0.1) 0.0 IPO-related expenses 0.0 0.0 0.0 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 Impairment Losses 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 Total Adjustments 0.6 0.6 0.5 0.7 2.5 0.5 0.4 0.5 0.4 1.9 2.1 Tax Adjustments to Total Adjusted Items (0.2) (0.2) (0.1) (0.2) (0.7) (0.1) (0.1) (0.1) (0.1) (0.6) (0.7) 2.6 4.7 2.8 5.1 15.3 2.2 2.1 0.8 7.4 12.7 13.9 Margin 13.3% 20.4% 14.6% 18.3% 17.0% 11.0% 10.7% 4.5% 21.5% 13.5% 13.8% (JPY Bn) Adjusted Profit Profit Adjusted Profit FY2024 FY2025 Adjusted Operating Profit Operating Profit Adjusted Operating Profit
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Appendix – Glossary 32© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Glossary (1/4) Terms Description AXI • Advanced X-Ray Inspections is a non-destructive and automated method that uses X-rays to inspect internal defects (such as voids, cracks, and misalignments) in electronic components, semiconductors, and industrial products CFET • Complementary FET (CFET) is a next generation semiconductor technology which vertically integrates N- and P-type FETs. It enables continued scaling beyond the current mainstream technologies such as FinFET and GAA CoWoS • Chip-on-Wafer-on-Substrate is a 2.5D packaging technology developed by TSMC for high-performance computing DicifferX WAXS Edition • An advanced X-ray analysis device that precisely and rapidly measures atomic and molecular structures, crystal phases, and molecular orientations in materials such as polymer films, fibers, and thin films within just a few seconds Electron Density Topography • A technique for visualizing the electron density distribution within a crystal or molecule EUV • Abbreviation for “Extreme Ultraviolet”, which refers to an exposure technology that uses extreme ultraviolet light of ~13.5nm, used as a light source in advanced semiconductor lithography GAA • Abbreviation for “gate-all-around” transistor technology, which refers to a modified transistor structure where the gate contacts the channel from all sides and enables continued scaling GaN • Gallium Nitride is a semiconductor material used in power electronics and RF applications 33© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Glossary (2/4) Terms Description GI-SAXS • Grazing-Incidence Small-Angle X-ray Scattering is a technique used for analyzing nanostructures on surfaces and thin films HBM • Abbreviation for “High Bandwidth Memory”. A new type of memory chip with low power consumption and ultra-wide communication lanes. It is standardized stacked memory technology that provides very wide channels for data, both within the stack and between the memory and logic High-k/Metal Gate • High-k materials refer to materials with a high dielectric constant High-k/Metal Gate (HKMG) refers to the latest transistor structure that combines high-k materials with a metal gate MiniFlex XpC • A compact X-ray diffractometer developed by Rigaku used for material analysis NEX CG ll • A next-generation energy-dispersive X-ray fluorescence spectrometer (Rigaku's model) ONYX Series • Product series name (likely for X-ray analysis instruments by Rigaku) Perovskite Solar Cell • A type of solar cell that uses a perovskite-structured compound as the light-harvesting active layer Pillar 3 Strategy • Rigaku's 'Lab to Fab Strategy' promotes the expansion of multipurpose analytical instruments from research and development ap plications to mass production processes 34© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Glossary (3/4) Terms Description Qualana • An advanced X-ray analysis device offering high-precision micro and wide-area mapping without positional deviation. It sensitively detects even light elements and, with Rigaku’s proprietary FP program, supports flexible quantitative thin-film analysis SiC • A compound semiconductor material consisting of silicon (Si) and carbon (C) SiGe • An alloy semiconductor material composed of silicon (Si) and germanium (Ge) TFXRD • An X-ray diffraction (XRD) system designed for high-precision evaluation of thin film properties in the semiconductor industry. It supports the measurement of thin films on large-diameter wafers, specifically 200 mm and 300 mm T-SAXS • Transmission Small-Angle X-ray Scattering – used for structural analysis of nanomaterials in transmission mode WFE • Abbreviation for “Wafer Fab Equipment”. Semiconductor manufacturing equipment used in the processes of creating electronic ci rcuitry and inspecting the conditions on wafers XRD • X-Ray Diffraction (XRD) - a technique for obtaining information on the crystal structure of a sample from the diffraction pattern that occurs when a crystal sample is irradiated with X-rays. It is used to analyze powder samples and processed material samples XRF • X-Ray Fluorescence (XRF) - a technique for qualitative and quantitative analysis of elements using fluorescent X-rays, which are generated when a substance is irradiated with X-rays. It is broadly classified into wavelength dispersive (WDX) type and energy dispersive (EDX) type 35© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.
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パレット フォントカラー コーポレートカラー セカンダリーカラー アクセントカラー #009CDE #041E42 #000000 #82C8EB #B9D9EB #F3F6F8 #003CA5 #01C571 #64A70B #C8C9C7 #F2A21C #D21437 #000000 Glossary (4/4) Terms Description XRTmicron • High-resolution, high-speed X-ray topography system with a high-brightness source and dedicated optics. Non-destructive, fully automated detection of crystal defects in Si, SiC, GaN, and other single-crystal materials which enhances production efficiency XtaLAB Synergy ED • It is an electron diffraction system combining Rigaku’s single-crystal X-ray structure analysis and JEOL’s transmission electron microscope technologies. It enables structural analysis of submicron crystals which includes materials previously difficult to measure ZSX Primus III NEXT • A wavelength-dispersive X-ray fluorescence spectrometer by Rigaku ZSX Primus IV • An advanced model in the same WDXRF series developed by Rigaku 36© 2026 RIGAKU HOLDINGS CORPORATION AND ITS GLOBAL SUBSIDIARIES. ALL RIGHTS RESERVED.