Interim report
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Consolidated Financial Statements for the First Three Quarters of the Fiscal Year Ending September 30 , 2026 [ Japan GAAP ] Company name : Sanyo Trading Co. , Ltd. Masanobu Shintani , President & CEO Stock exchange code : 3176 Listed on : Tokyo Stock Exchange Prime Market URL https://www.sanyo-trading.co.jp/ Accouards For FASF MEMBERSHIP August 7 , 2026 Representative : Contact : Ryuichi Otani , Director & Executive Officer , in charge of Administration Divisions Tel . + 81-3-3518-1111 Start of distribution of dividends ( scheduled ) : Supplementary documents of financial results : Yes Investors ' meeting : No ( Amounts have been rounded down to the nearest million yen . ) Net sales 1. Consolidated Results for the First Three Quarters of the Fiscal Year Ending September 30 , 2026 ( October 1 , 2025 to June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( First Nine Months ) ( % year - on - year change ) Profit attributable to owners of parent Operating profit Three quarters ended June 30 , 2026 June 30 , 2025 Million yen 107,535 98,807 % Million yen % 8.8 6,557 18.5 Ordinary profit Million yen 6,714 % 11.2 Million yen % 5,406 18.3 3.0 5,532 ( 5.9 ) 6,037 ( 17.2 ) 4,569 ( 3.2 ) ( Note ) Comprehensive income : Three quarters ended June 30 , 2026 : 6,173 million yen ( 39.1 % increase ) Three quarters ended June 30 , 2025 : 4,436 million yen ( 25.6 % decrease ) Profit per share ( basic ) Profit per share ( diluted ) Three quarters ended June 30 , 2026 Yen Yen 93.80 79.32 93.31 78.90 June 30 , 2025 ( Note ) The Company conducted a 2 - for - 1 split of its common shares on July 1 , 2026. Therefore , earnings per share ( basic ) and earnings per share ( diluted ) are calculated on the assumption that the stock split was conducted at the beginning of the previous fiscal year . ( 2 ) Consolidated Financial Position Total assets Net assets Shareholders ' equity ratio As of Million yen Million yen % June 30 , 2026 September 30 , 2025 87,341 81,496 55,816 51,321 63.8 62.9 ( Reference ) Total equity : 2. Dividends As of June 30 , 2026 : As of September 30 , 2025 : Annual dividends per share 3Q - end 55,729 million yen 51,230 million yen 1Q - end 2Q - end Yen Yen FYE September 2025 FYE September 2026 28.00 30.00 4Q - end Annual Yen Yen Yen 29.00 57.00 25.00 FYE September 2026 ( estimate ) ( Note 1 ) Revisions to the latest dividends forecast : No ( Note 2 ) The year - end dividend for the fiscal year ending September 30 , 2026 consists of an regular dividend of 15.00 yen and a commemorative dividend of 10.00 yen . ( Note 3 ) The Company conducted a 2 - for - 1 split of its common stock with a record date of June 30 , 2026 and an effective date of July 1 , 2026. The above year - end dividend per share for the fiscal year ending September 30 , 2026 ( estimate ) is stated reflecting the stock split . The total annual dividend per share for the fiscal year ending September 30 , 2026 ( estimate ) is not provided because the stock split makes it impossible to simply tally the interim and year - end dividends . If the stock split is not reflected , the year - end and commemorative dividends per share for the fiscal year ending September 30 , 2026 ( estimate ) will be 30.00 yen and 20.00 yen , respectively , which will result in a total annual dividend of 80.00 yen per share . 3. Forecast of Consolidated Results for the Fiscal Year Ending September 30 , 2026 ( October 1 , 2025 to September 30 , 2026 ) Net sales Operating profit Full fiscal year Million yen % 138,000 4.0 Million yen 7,500 ( Note 1 ) Revisions to the latest consolidated earnings forecast : Yes 104.05 Yen ( Note 2 ) The Company conducted a 2 - for - 1 split of its common stock with a record date of June 30 , 2026 and an effective date of July 1 , 2026. The % 16.6 Ordinary profit Million yen 7,650 % 11.2 ( % = year - on - year change ) Profit attributable to Profit per owners of parent share ( basic ) Million yen 6,000 % 30.0
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above profit per share (basic) was calculated on the assumption that the stock split was conducted at the beginning of the fi scal year ending September 30, 2026. If the stock split is reflected, profit per share (basic) will be 208.11 yen on a full-year basis. * Notes (1) Material changes in the scope of consolidation during the first nine-month period: Yes New: one company (Company name) EMAS Supplies & Services Pte. Ltd. Excluding: – (Company name) (2) Application of special accounting methods to the preparation of quarterly financial statements: Yes (Note) For details, please refer to “2. Quarterly Consolidated Financial Statements and Major Notes (3) Notes to Quarterly Consolidated Financial Statements (Application of accounting processes specific to the preparation of quarterly consolidated financial state ments)” on page 8 of the attached report. (3) Changes in accounting principles and accounting estimates, and restatement of prior period financial statements after error corrections (i) Changes in accordance with revisions to accounting and other standards: None (ii) Changes in items other than (i): None (iii) Changes in accounting estimates: None (iv) Restatement of prior period financial statements after error corrections: None (4) Number of shares issued and outstanding (common stock) (i) Number of shares issued and outstanding as of the fiscal period end (including treasury stock) As of June 30, 2026: 58,015,416 shares As of September 30, 2025: 58,015,416 shares (ii) Number of treasury stock as of the fiscal period end As of June 30, 2026: 353,270 shares As of September 30, 2025: 395,070 shares (iii) Average number of shares during the period (first nine months) First 3Qs, FYE ending Sep. 2026: 57,636,926 shares First 3Qs, FYE ended Sep. 2025: 57,605,265 shares (Note) The Company conducted a 2 -for-1 split of its common shares on July 1, 2026. Therefore, number of shares issued and outstanding as of the fiscal period end (including treasury stock) and average number of shares during the period (first nine months) are cal culated on the assumption that the stock split was conducted at the beginning of the previous fiscal year. * Review of the Japanese-language originals of the attached quarterly consolidated financial statements by certified public accountants or an auditing firm: None * A Cautionary Note on Forward-Looking Statements The earnings forecasts presented in this document are based upon currently available information and assumptions deemed rational and the Company does not guarantee their achievement. A variety of factors could cause actual results to differ materially fr om forecasts. For details about the assumptions in the earnings forecasts, notes on the use of the earnings forecasts, and other matters, please refer to 1. Qualitative Information on Quarterly Results (3) Explanation of Consolidated Earnings Forecasts and Other Future Predictions on page 3 of the attached report. (Change of monetary unit indicated) Starting with the consolidated financial statements for the first nine months of the fiscal year under review, the Company has decided to change the monetary unit for amounts presented in its quarterly consolidated financial statements from thousand yen to million yen. For ease of comparison, figures for the previous fiscal year and the corresponding period of the previous year are also presented in million yen.
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 1 – ○ Table of Contents of Attached Report 1. Qualitative Information on Quarterly Results .................................................................................................................. 2 (1) Explanation of Operating Results ................................................................................................................................ 2 (2) Explanation of Financial Position ............................................................................................................................... 3 (3) Explanation of Consolidated Earnings Forecasts and Other Future Predictions ......................................................... 3 2. Quarterly Consolidated Financial Statements and Major Notes ...................................................................................... 4 (1) Quarterly Consolidated Balance Sheets ...................................................................................................................... 4 (2) Quarterly Consolidated Statements of Income and Comprehensive Income .............................................................. 6 Quarterly Consolidated Statement of Income ............................................................................................................. 6 Quarterly Consolidated Statement of Comprehensive Income ................................................................................... 7 (3) Notes to Quarterly Consolidated Financial Statements ............................................................................................... 8 (Notes related to the going concern assumption) ........................................................................................................ 8 (Notes on significant fluctuations in shareholders’ equity) ......................................................................................... 8 (Application of accounting processes specific to the preparation of quarterly consolidated financial statements) ..... 8 (Notes on statement of cash flows).............................................................................................................................. 8 (Segment information, etc.) ......................................................................................................................................... 9
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 2 – 1. Qualitative Information on Quarterly Results (1) Explanation of Operating Results Net sales of the Group were ¥107,535 million (up 8.8% year on year), operating profit stood at ¥6,557 million (up 18.5% year on year), ordinary profit was ¥6,714 million (up 11.2% year on year), and profit attributable to owners of parent was ¥5,406 million (up 18.3% year on year). The operating results for each business segment are described below. (i) Fine Chemicals In rubber-related products, both sales and profits increased, reflecting the strong demand for raw materials for the domestic market and the successful revision of sales prices, although some overseas Group companies have been affected by a decrease in demand. In chemical-related products, both sales and profits increased, reflecting the launch of new businesses and the effects of sales price revisions, as well as the efforts to tap into anticipated demand against the backdrop of supply uncertainty, even though demand for mainstay products for the domestic market, including raw materials for inks, paints and adhesives, continued to be sluggish. As a result, the Fine Chemicals segment recorded net sales of ¥35,008 million (up 8.5% year on year) and operating profit of ¥2,539 million (up 28.8% year on year). (ii) Industrial Products In mobility-related products, both sales and profits increased due to the fluctuation of foreign exchange rates and the consolidation of EMAS Supplies & Services Pte. Ltd. (“EMAS”) through the acquisition of all of the shares of the company, as well as fav orable automobile production in the United States, despite the negative impact of the economic slowdown in China. Overseas, Sun Phoenix Mexico, S.A. de C.V. recorded sluggish earnings due to additional customs duties in Mexico. In China, profits improved, contributed by the cost reduction initiatives at Sanyo Trading (Shanghai) Co., Ltd., despite continued production reduction by Japanese-affiliated auto manufacturers due to intensified competition. In ASEAN countries, both sales and profit at Sanyo Trading Asia Co., Ltd. (Thailand) increased due to the strength of exports to some regions and the impact of the weak yen. As a result, the Industrial Products segment recorded net sales of ¥30,414 million (up 8.7% year on year) and operating profit of ¥2,779 million (up 21.5%). (iii) Sustainability In green technology merchandise, both sales and profits increased, reflecting brisk sales of wearing parts related to feed processing machines, as well as the recording of sales of major projects using the percentage of completion method in the wood biomass business. Both sales and profit declined at Cosmos Shoji Co., Ltd. This is attributable to a decrease in sales of merchandise related to ocean research equipment, which was a reflection of the impact of the transitional period in the ocean development-related business, and also to the limited growth of sales of geothermal heat -related equipment. These factors offset the progress in the efforts of acquiring orders for the next fiscal year, which was achieved by closing deals for projects for merchandise related to marine wind farms. As a result, the Sustainability segment recorded net sales of ¥9,407 million (up 10.6% year on year) and operating profit of ¥953 million (down 27.3%). (iv) Life Science Both sales and profits in merchandise related to material solutions increased due to growth in the export business, including electrical materials, and growth in the import business, which includes functional ingredients. In merchandise related to scientif ic equipment, both sales and profits increased. This is attributable to progress in delivery related to multiple projects achieved on the back of a recovery in demand. Sales of functional feed raw materials handled by YPTECH Co., Ltd. increased due to a higher sales quantity. In contrast, the performance of research support equipment in the biotech field handled by Scrum Inc. was weak due to the termination of distributor agreements for equipment related to genetic analysis. As a result, the Life Science segment recorded net sales of ¥31,563 million (up 8.6% year on year) and operating profit of ¥1,627 million (up 25.3% year on year).
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 3 – (2) Explanation of Financial Position (Assets) Current assets increased ¥5,818 million from the end of the previous fiscal year, to ¥75,733 million, primarily because of increases in inventories and advance payments to suppliers. Non-current assets increased ¥27 million from the end of the previous fiscal year, to ¥11,608 million, primarily reflecting an increase in goodwill associated with the acquisition of shares in EMAS and sales of investment securities. As a result, total assets stood at ¥87,341 million (an increase of ¥5,845 million from the end of the previous fiscal year). (Liabilities) Current liabilities increased ¥1,332 million from the end of the previous fiscal year, to ¥29,438 million, mainly reflecting an increase in trade payables and a decrease in short-term borrowings. Non-current liabilities increased ¥17 million from the end of the previous fiscal year, to ¥2,086 million mainly due to increases in retirement benefit liability. As a result, liabilities stood at ¥31,525 million (an increase of ¥1,350 million from the end of the previous fiscal year). (Net assets) Shareholders’ equity increased, mainly as a result of recording of profit attributable to owners of parent. Accumulated other comprehensive income increased primarily due to an increase in foreign currency translation adjustment. As a result, net assets stood at ¥55,816 million (an increase of ¥4,495 million from the end of the previous fiscal year). (3) Explanation of Consolidated Earnings Forecasts and Other Future Predictions Regarding the consolidated results forecasts for the fiscal year ending September 30, 2026, based on the results for the first nine months of the fiscal year under review and the business outlook, the Company has further revised upwards its full -year consolidated results forecasts as announced in the Notice Regarding Revision of Full -Year Earnings Forecast published on May 12, 2026. For details, please see the Notice Regarding Revision of Full -Year Earnings Forecast announced today (August 7, 2026).
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 4 – 2. Quarterly Consolidated Financial Statements and Major Notes (1) Quarterly Consolidated Balance Sheets (Million yen) Fiscal 2025 (As of September 30, 2025) First three quarters of fiscal 2026 (As of June 30, 2026) Assets Current assets Cash and deposits 11,896 11,984 Notes and accounts receivable - trade, and contract assets 23,679 24,409 Electronically recorded monetary claims - operating 2,730 2,525 Merchandise and finished goods 25,990 27,853 Work in process 124 194 Raw materials and supplies 271 331 Other 5,366 8,545 Allowance for doubtful accounts (144) (111) Total current assets 69,915 75,733 Non-current assets Property, plant and equipment 3,464 3,525 Intangible assets Goodwill 685 1,704 Other 622 623 Total intangible assets 1,307 2,327 Investments and other assets Investment securities 5,352 4,669 Other 1,495 1,086 Allowance for doubtful accounts (39) (0) Total investments and other assets 6,808 5,755 Total non-current assets 11,580 11,608 Total assets 81,496 87,341
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 5 – (Million yen) Fiscal 2025 (As of September 30, 2025) First three quarters of fiscal 2026 (As of June 30, 2026) Liabilities Current liabilities Notes and accounts payable - trade 12,544 15,451 Short-term borrowings 2,910 1,263 Current portion of long-term borrowings 50 50 Income taxes payable 1,540 1,306 Contract liabilities 8,118 9,067 Provisions 1,003 851 Other 1,938 1,447 Total current liabilities 28,105 29,438 Non-current liabilities Long-term borrowings 100 100 Provisions 42 29 Retirement benefit liability 881 900 Other 1,045 1,056 Total non-current liabilities 2,068 2,086 Total liabilities 30,174 31,525 Net assets Shareholders’ equity Share capital 1,006 1,006 Capital surplus 461 477 Retained earnings 45,840 49,546 Treasury shares (95) (85) Total shareholders’ equity 47,213 50,945 Accumulated other comprehensive income Valuation difference on available-for-sale securities 2,047 1,705 Deferred gains or losses on hedges 109 82 Foreign currency translation adjustment 1,860 2,995 Total accumulated other comprehensive income 4,017 4,783 Share acquisition rights 90 86 Non-controlling interests 0 0 Total net assets 51,321 55,816 Total liabilities and net assets 81,496 87,341
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 6 – (2) Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statement of Income (First nine months) (Million yen) First nine months of fiscal year ended September 30, 2025 (from October 1, 2024 to June 30, 2025) First nine months of fiscal year ending September 30, 2026 (from October 1, 2025 to June 30, 2026) Net sales 98,807 107,535 Cost of sales 81,613 88,553 Gross profit 17,193 18,981 Selling, general and administrative expenses 11,660 12,424 Operating profit 5,532 6,557 Non-operating income Interest income 45 33 Dividend income 115 114 Foreign exchange gains 317 404 Other 143 151 Total non-operating income 622 704 Non-operating expenses Interest expenses 61 59 Loss on sales of trade receivables 30 53 Loss on valuation of investments – 397 Other 25 36 Total non-operating expenses 117 547 Ordinary profit 6,037 6,714 Extraordinary income Gain on sale of investment securities 929 1,269 Gain on sales of non-current assets – 74 Gain on bargain purchase – 150 Total extraordinary income 929 1,494 Profit before income taxes 6,966 8,209 Income taxes 2,398 2,802 Profit 4,568 5,406 Profit (loss) attributable to non-controlling interests (0) 0 Profit attributable to owners of parent 4,569 5,406
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 7 – Quarterly Consolidated Statement of Comprehensive Income (First nine months) (Million yen) First nine months of fiscal year ended September 30, 2025 (from October 1, 2024 to June 30, 2025) First nine months of fiscal year ending September 30, 2026 (from October 1, 2025 to June 30, 2026) Profit 4,568 5,406 Other comprehensive income Valuation difference on available-for-sale securities (199) (342) Deferred gains or losses on hedges 39 (26) Foreign currency translation adjustment 28 1,134 Total other comprehensive income (131) 766 Comprehensive income 4,436 6,173 Comprehensive income attributable to Comprehensive income attributable to owners of parent 4,437 6,172 Comprehensive income attributable to non- controlling interests (0) 0
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 8 – (3) Notes to Quarterly Consolidated Financial Statements (Notes related to the going concern assumption) There are no applicable matters. (Notes on significant fluctuations in shareholders’ equity) There are no applicable matters. (Application of accounting processes specific to the preparation of quarterly consolidated financial statements) Tax expenses are calculated by reasonably estimating the effective tax rate after the application of deferred tax accounting on profit before income taxes in the consolidated fiscal year including the first nine months under review, and multiplying profit before income taxes by said estimated effective tax rate. (Notes on statement of cash flows) The Company did not prepare quarterly consolidated statements of cash flows for the first nine months under review. Depreciation (including amortization of intangible assets except for goodwill) and amortization of goodwill for the first nine months of the fiscal year under review are as follows. (Million yen) First nine months of fiscal year ended September 30, 2025 (from October 1, 2024 to June 30, 2025) First nine months of fiscal year ending September 30, 2026 (from October 1, 2025 to June 30, 2026) Depreciation 340 365 Amortization of goodwill 348 348
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 9 – (Segment information, etc.) [Segment information] I. First nine months of fiscal year ended September 30, 2025 (from October 1, 2024 to June 30, 2025) 1. Information related to net sales and profit (loss) by reportable segment (Million yen) Reportable segments Other (Note 1) Total Adjustment (Note 2) Quarterly consolidated statement of income (Note 3) Fine Chemicals Industrial Products Sustainability Life Science Total Net sales Sales to external customers 32,280 27,980 8,505 29,070 97,837 969 98,807 – 98,807 Intersegment internal sales and transfers 3,770 1,038 270 2,819 7,900 344 8,244 (8,244) – Total 36,051 29,019 8,775 31,890 105,737 1,314 107,051 (8,244) 98,807 Segment profit (loss) 1,971 2,288 1,311 1,298 6,870 (246) 6,623 (1,091) 5,532 (Notes) 1. The category “Other” includes business segments not included in the reportable segments, such as information system and real estate leasing. 2. The adjustment consists of the following items. An adjustment of segment profit (loss) of -¥1,091 million includes selling, general and administrative expenses that are not allocated to reportable segments of -¥1,138 million and a foreign currency translation adjustment of -¥49 million in relation to management accounting, and a ¥97 million of other consolidation adjustments. 3. Segment profit (loss) is reconciled with operating profit in the quarterly consolidated statement of income. 2. Information on impairment loss in non-current assets and goodwill by reportable segment (Significant changes in amount of goodwill) During the first six months of the fiscal year under review, the Company made an additional payment for a contingent consideration regarding an acquisition in conjunction with the acquisition of all of the stock of Scrum Inc. implemented in the fiscal year ended September 2022. The payment resulted in the recording of goodwill of ¥126 million in the Life Science segment.
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Sanyo Trading Co., Ltd. (3176) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending September 30, 2026 – 10 – II. First nine months of fiscal year ending September 30, 2026 (from October 1, 2025 to June 30, 2026) 1. Information related to net sales and profit (loss) by reportable segment (Million yen) Reportable segments Other (Note 1) Total Adjustment (Note 2) Quarterly consolidated statement of income (Note 3) Fine Chemicals Industrial Products Sustainability Life Science Total Net sales Sales to external customers 35,008 30,414 9,407 31,563 106,394 1,141 107,535 – 107,535 Intersegment internal sales and transfers 4,108 621 306 1,879 6,915 354 7,270 (7,270) – Total 39,117 31,036 9,713 33,443 113,310 1,496 114,806 (7,270) 107,535 Segment profit (loss) 2,539 2,779 953 1,627 7,900 (366) 7,533 (975) 6,557 (Notes) 1. The category “Other” includes business segments not included in the reportable segments, such as information system and real estate leasing. 2. The adjustment consists of the following items. The adjustment of -¥975 million to segment profit (loss) includes selling, general and administrative expenses of -¥1,112 million that are not allocated to any reportable segments and other consolidation adjustments of ¥136 million. 3. Segment profit (loss) is reconciled with operating profit in the quarterly consolidated statement of income. 2. Information on impairment loss in non-current assets and goodwill by reportable segment (Significant changes in amount of goodwill) During the first quarter, the Company included EMAS in the scope of consolidation through the acquisition of shares, resulting in the recording of goodwill of ¥1,217 million in the Industrial Products segment. The Company also recorded goodwill of ¥46 mill ion in the Life Science segment due to the acquisition of all shares of Kyushu Mitaka Co., Ltd. by YPTECH Co., Ltd., making it a consolidated subsidiary of the Company. (Gain on Bargain Purchase) In the Sustainability segment, the Company recorded a gain on bargain purchase of 150 million yen following the acquisition of shares of Kitakyu Sensui Co., Ltd. during the third quarter of the current fiscal year. As this gain on bargain purchase is classified as extraordinary income, it is not included in the segment profit shown above.