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Toray Industries, Inc. February 10, 2026 Announcement of Business Results for the 3Q and Nine Months Ended December 31, 2025
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Copyright © 2026 Toray Industries, Inc. 1 Contents I. Consolidated Business Results for the 3Q and Nine Months Ended December 31, 2025 II. Business Forecast for the Fiscal Year Ending March 2026 (Consolidated Basis) III. Reference …………………………………………… 15 ………………………………………… 3 ……………………………………………………………………………………… 19
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Copyright © 2026 Toray Industries, Inc. 2 Summary of Business Performance and Forecast 1,026 1,428 1,500 （Billion yen) FY Mar/26 Nine Months (Apr.-Dec.) Core Operating Income FY Mar/26 Core Operating Income Actual Changes New Forecast Changes ■ Fibers & Textiles 54.8 +4.7 70.0 +5.8 ■ Performance Chemicals 43.1 -5.0 61.0 +1.0 ■ Carbon Fiber Composite Materials 11.5 -2.6 20.0 -2.5 ■ Environment & Engineering 17.6 +0.6 30.0 +4.1 ■ Life Science ▲ 1.1 -0.2 0.0 +0.8 ■ Others 0.0 -1.0 1.5 -0.9 ■ Reconciliations ▲ 20.8 -0.2 ▲ 32.5 -1.0 Total 105.1 -3.7 150.0 +7.2 実績 今回見通し実績 Billion yen Core operating income of the nine months: Decreased year-on-year to 105.1 billion yen Full-year forecast for core operating income: Increase year-on-year to 150.0 billion yen (same as the previous forecast*1) 1 2 Consolidated Business Results *1: The previous forecast was announced on November 14, 2025. Forecast for Core Operating Income 102.6 142.8 150.0 Actual Actual New Forecast FY Mar/24 FY Mar/25 FY Mar/26 ■ Fibers & Textiles ■ Performance Chemicals ■ Carbon Fiber Composite Materials ■ Environment & Engineering ■ Life Science ■ Others ■ Reconciliation Share Buybacks In line with the resolution at the Board of Directors meeting in November 2025 (total repurchase price of shares: up to 50.0 billion yen), the total repurchase price of shares has reached 29.0 billion yen (28 million shares) by the end of January 2026.
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3 Consolidated Business Results for the 3Q and Nine Months Ended December 31, 2025 I
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Copyright © 2026 Toray Industries, Inc. 4 Summary of Consolidated Business Results for the 3Q and Nine Months Ended December 31, 2025 FY Mar/25 3Q (Oct.-Dec.) FY Mar/26 3Q (Oct.-Dec.) Changes Revenue 629.8 685.2 +55.4 (+8.8%) Core Operating Income 29.6 37.2 +7.6 (+25.6%) (Core Operating Income Margin) 4.7% 5.4% +0.7 points Special Items ▲ 5.3 ▲ 30.5 -25.2 Finance Income and Costs 0.0 ▲ 2.4 -2.4 Share of Profit (Loss) of Investments Accounted for Using Equity Method 5.6 12.1 +6.6 Profit Before Tax 29.9 16.5 -13.4 (-44.8%) Profit Attributable to Owners of Parent 19.7 3.2 -16.4 (-83.6%) <Exchange Rate> FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) 152.6 148.7 － － 164.8 171.8 － － FY Mar/25 3Q (Oct.-Dec.) FY Mar/26 3Q (Oct.-Dec.) Yen / US$ Average 152.4 154.2 End of the Term 158.2 156.6 Yen / Euro Average 162.6 179.4 End of the Term 164.9 184.3 FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes 1,923.9 1,919.5 -4.4 (-0.2%) 108.8 105.1 -3.7 (-3.4%) 5.7% 5.5% -0.2 points ▲ 4.9 ▲ 34.1 -29.1 ▲ 4.8 ▲ 7.8 -3.1 8.6 11.5 +2.9 107.6 74.7 -33.0 (-30.6%) 75.2 40.2 -35.0 (-46.6%) Billion yen
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Copyright © 2026 Toray Industries, Inc. 5 Special Items Billion yen FY Mar/25 3Q (Oct.-Dec.) FY Mar/26 3Q (Oct.-Dec.) Changes Gain on Sale or Disposal of Fixed Assets 0.3 0.4 +0.1 Loss on Sale or Disposal of Fixed Assets ▲ 1.9 ▲ 2.5 -0.6 Impairment Losses*1 ▲ 1.7 ▲ 27.0 -25.2 Economic Compensation*2 ▲ 1.9 - +1.9 Loss on Warehouse Fire*3 - ▲ 1.4 -1.4 Special Items ▲ 5.3 ▲ 30.5 -25.2 FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes 3.8 0.5 -3.3 ▲ 4.2 ▲ 5.6 -1.4 ▲ 2.6 ▲ 27.5 -24.9 ▲ 1.9 - +1.9 - ▲ 1.4 -1.4 ▲ 4.9 ▲ 34.1 -29.1 ＊1 Including impairment losses in battery separator films business in the performance chemicals business due to the worsened profitability at a subsidiary in the Republic of Korea. ＊2 Estimated compensation to employees accompanying the production transfer from Toray Plastics (Shenzhen) Ltd., a resin compound manufacturing and sales subsidiary in China, to Toray Resins (Foshan) Co., Ltd. in the performance chemicals business. ＊3 Losses accompanying the lost of inventories due to fire at P.T. TAK Textiles Indonesia, a textiles manufacturing and sales subsidiary in the fibers & textiles business.
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Copyright © 2026 Toray Industries, Inc. 6 Assets, Liabilities, Equity, and Free Cash Flow End of Mar/25 End of Dec/25 Changes Total Assets 3,292.6 3,515.1 +222.5 Current Assets 1,462.0 1,615.0 +153.0 Property, Plant and Equipment 1,109.6 1,162.9 +53.4 Other Non-Current Assets 721.0 737.2 +16.1 Total Liabilities 1,472.0 1,630.5 +158.5 Current Liabilities 857.5 905.7 +48.1 Non-Current Liabilities 614.5 724.8 +110.3 Equity 1,820.6 1,884.6 +64.0 Owner's Equity * 1,709.0 1,762.0 +53.0 Equity Ratio * 51.9% 50.1% -1.8 points Interest-bearing Liabilities 842.7 985.1 +142.5 D/E Ratio 0.49 0.56 +0.07 <Free Cash Flow> FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Cash Flows from Operating Activities 147.2 76.4 -70.8 Cash Flows from Investment Activities ▲ 58.9 ▲ 62.4 -3.5 Free Cash Flow 88.3 14.1 -74.2 *Owner's equity=average equity attributable to owners of parent Billion yen
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Copyright © 2026 Toray Industries, Inc. 7 Capital Expenditures, Depreciation and Amortization, and R&D Expenditures FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Capital Expenditures 144.5 102.7 -41.9 Toray 41.1 22.6 -18.4 Consolidated Subsidiaries 103.5 80.1 -23.4 Depreciation and Amortization 99.7 100.7 +1.0 Toray 25.3 25.1 -0.2 Consolidated Subsidiaries 74.4 75.5 +1.2 R&D Expenditures 52.8 54.4 +1.6 Toray 36.5 38.1 +1.6 Consolidated Subsidiaries 16.3 16.3 +0.0 Billion yen Major Capital Expenditure Projects Toray Industries, Inc. : Polypropylene film production facilities Toray Composite Materials America, Inc. : Carbon fiber production facilities Toray Carbon Fibers Europe S.A. : Carbon fiber production facilities
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Copyright © 2026 Toray Industries, Inc. 8 Revenue and Core Operating Income by Segment, and Factor Analysis of Core Operating Income FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Fibers & Textiles 774.6 804.9 +30.3 (+3.9%) Performance Chemicals 712.0 668.7 -43.3 (-6.1%) Carbon Fiber Composite Materials 223.2 212.7 -10.5 (-4.7%) Environment & Engineering 162.5 180.3 +17.8 (+11.0%) Life Science 39.2 38.5 -0.7 (-1.8%) Other 12.4 14.4 +2.0 (+16.1%) Total 1,923.9 1,919.5 -4.4 (-0.2%) Core Operating Income Fibers & Textiles 50.0 54.8 +4.7 (+9.5%) Performance Chemicals 48.1 43.1 -5.0 (-10.3%) Carbon Fiber Composite Materials 14.1 11.5 -2.6 (-18.6%) Environment & Engineering 17.0 17.6 +0.6 (+3.5%) Life Science ▲ 0.9 ▲ 1.1 -0.2 ( - ) Other 1.0 0.0 -1.0 (-99.5%) Reconciliations ▲ 20.5 ▲ 20.8 -0.2 Total 108.8 105.1 -3.7 (-3.4%) Core Operating Margin 5.7% 5.5% -0.2 points 108.8 +7.2 +4.2 -13.3 -1.7 105.1 The Fibers & Textiles segment remained robust mainly in the apparel applications. The Performance Chemicals segment was affected by the weak market conditions, and the Carbon Fiber Composite Materials segment was impacted by demand correction (including the businesses that fall under structural reform) in the industrial applications. As a result, core operating income of the entire Group decreased 3.4% year-on-year to 105.1 billion yen. (Billion yen) (Billion yen) Business Performance Changes in Core Operating Income -3.7 Fibers & Textiles Performance Chemicals Carbon Fiber Composite Materials • Remained strong mainly in the apparel applications • Sluggish sales of the battery separator films • The lack of temporary factors that increased profit in the previous fiscal year, etc. • Affected by demand correction for the industrial applications, etc. +4.7 -5.0 -2.6 Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Revenue and Core Operating Income
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Copyright © 2026 Toray Industries, Inc. 9 Business Performance by Segment (Fibers & Textiles) FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Toray 168.1 180.2 +12.1 (+7.2%) Japanese Subsidiaries 378.3 398.4 +20.1 (+5.3%) Overseas Subsidiaries 523.0 533.9 +10.9 (+2.1%) Adjustments ▲ 294.8 ▲ 307.5 -12.7 Total 774.6 804.9 +30.3 (+3.9%) Core Operating Income Toray 10.6 13.7 +3.1 (+28.7%) Japanese Subsidiaries 11.6 11.3 -0.3 (-2.3%) Overseas Subsidiaries 28.0 29.8 +1.9 (+6.6%) Adjustments ▲ 0.1 ▲ 0.0 +0.1 Total 50.0 54.8 +4.7 (+9.5%) 50.0 +3.6 +0.2 +1.7 -0.7 54.8 Business Performance ◼ Apparel applications Strong overall, despite the stagnation in the European market and the continued impact of the intensified competition with overseas products. ◼ Industrial applications Amid a sense of stagnation in the markets including the automobile applications, the Group strived to reduce costs. Revenue and Core Operating Income Changes in Core Operating Income (Billion yen) (Billion yen) FY Mar/25 Nine Months (Apr.- Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity +4.7
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Copyright © 2026 Toray Industries, Inc. 10 Business Performance by Segment (Performance Chemicals) FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Ratio Ratio Percent Changes Revenue Resins, Chemicals 321.8 30% 304.3 30% -5% Films 276.1 26% 258.4 26% -6% Electronic & Information Materials 53.9 5% 54.1 5% +0% Trading, Other 423.1 39% 382.8 38% -10% Adjustments ▲ 362.9 - ▲ 330.9 - - Total 712.0 668.7 -6% FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Toray 190.1 186.8 -3.3 (-1.7%) Japanese Subsidiaries 380.5 367.4 -13.2 (-3.5%) Overseas Subsidiaries 504.2 445.4 -58.8 (-11.7%) Adjustments ▲ 362.9 ▲ 330.9 +32.0 Total 712.0 668.7 -43.3 (-6.1%) Core Operating Income Toray 8.7 8.3 -0.4 (-4.8%) Japanese Subsidiaries 19.4 18.2 -1.2 (-6.2%) Overseas Subsidiaries 19.7 16.4 -3.3 (-17.0%) Adjustments 0.2 0.2 +0.0 Total 48.1 43.1 -5.0 (-10.3%) 48.1 -1.5 +6.8 -9.6 -0.7 43.1 Resins, Chemicals Films Electronic & Information Materials Trading, Other +1.5 -0.6 -2.3 -3.5 -5.0 Business Performance (Billion yen) (Billion yen) Revenue and Core Operating Income Revenue by Subsegment Changes in Core Operating Income (Billion yen) FY Mar/25 Nine Months (Apr.- Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity ◼ Resins, Chemicals Business Sales of the resins business stagnated due to the impact of the slowdown in the automobile applications, while the chemicals business also was affected by the worsening market conditions. ◼ Films Business Demand for the automobile capacitator and electronic parts-related applications grew, while sales of battery separator film stagnated. ◼ Electronic & Information Materials Business OLED-related materials and circuit materials were affected by the slow demand for display panels and intensified competition in China, although a new product for the power inductor applications was launched.
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Copyright © 2026 Toray Industries, Inc. 11 Business Performance by Segment (Carbon Fiber Composite Materials) 14.1 +1.1 -2.1 -1.5 -0.1 11.5 FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Toray 79.1 68.8 -10.3 (-13.0%) Japanese Subsidiaries 50.0 55.3 +5.3 (+10.6%) Overseas Subsidiaries 202.8 196.7 -6.1 (-3.0%) Adjustments ▲ 108.7 ▲ 108.1 +0.6 Total 223.2 212.7 -10.5 (-4.7%) Core Operating Income Toray 11.0 9.0 -2.1 (-18.7%) Japanese Subsidiaries 1.2 1.1 -0.1 (-10.0%) Overseas Subsidiaries 5.9 5.2 -0.7 (-11.9%) Adjustments ▲ 4.0 ▲ 3.8 +0.3 Total 14.1 11.5 -2.6 (-18.6%) FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Ratio Ratio Percent Changes Revenue Aerospace 77.4 35% 80.7 38% +4% Sports 22.0 10% 20.8 10% -5% Industrial 123.8 55% 111.2 52% -10% Total 223.2 212.7 -5% -2.6 Business Performance ◼ Aerospace Applications Sales for a major customer have steadily recovered accompanying the alleviation of inventory adjustment in supply chain. ◼ Industrial Applications The pressure vessel applications entered an adjustment phase. Revenue and Core Operating Income Changes in Core Operating IncomeRevenue by Subsegment (Billion yen) (Billion yen) (Billion yen) FY Mar/25 Nine Months (Apr.- Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity
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Copyright © 2026 Toray Industries, Inc. 12 Business Results by Segment (Environment & Engineering) FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Toray 33.1 25.3 -7.8 (-23.7%) Japanese Subsidiaries 181.1 176.4 -4.8 (-2.6%) Overseas Subsidiaries 55.3 59.6 +4.3 (+7.8%) Adjustments ▲ 107.0 ▲ 81.0 +26.1 Total 162.5 180.3 +17.8 (+11.0%) Core Operating Income Toray 4.0 2.3 -1.7 (-43.3%) Japanese Subsidiaries 6.8 8.3 +1.4 (+21.1%) Overseas Subsidiaries 6.1 7.2 +1.2 (+19.2%) Adjustments 0.1 ▲ 0.2 -0.3 Total 17.0 17.6 +0.6 (+3.5%) 17.0 +3.4 -0.8 -1.9 -0.2 17.6 +0.6 Business Performance ◼ Water Treatment Business Affected by the sluggish market conditions in China even as the shipment for the Middle East remained strong. ◼ Japanese Subsidiaries A construction subsidiary kept sales steady. Revenue and Core Operating Income Changes in Core Operating Income (Billion yen) (Billion yen) FY Mar/25 Nine Months (Apr.- Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity
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Copyright © 2026 Toray Industries, Inc. 13 Business Results by Segment (Life Science) FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Revenue Toray 17.7 16.6 -1.0 (-5.9%) Japanese Subsidiaries 31.4 30.9 -0.6 (-1.8%) Overseas Subsidiaries 12.1 11.9 -0.2 (-2.0%) Adjustments ▲ 22.0 ▲ 20.9 +1.1 Total 39.2 38.5 -0.7 (-1.8%) Core Operating Income Toray ▲ 2.5 ▲ 2.9 -0.4 ( - ) Japanese Subsidiaries 0.7 0.9 +0.3 (+40.8%) Overseas Subsidiaries 0.6 0.5 -0.0 (-6.5%) Adjustments 0.4 0.3 -0.1 Total ▲ 0.9 ▲ 1.1 -0.2 ( - ) ▲0.9 -0.4 +0.1 +0.1 -0.0 ▲1.1 -0.2 Business Performance ◼ Pharmaceutical business Affected by the impact of the penetration of the generic versions in Japan, while overseas sales grew mainly in China. ◼ Medical Equipment business Sales of dialyzers for hemodiafiltration, catheters, and other products were sluggish. The business was also affected by prices of raw materials remaining high. Revenue and Core Operating Income Changes in Core Operating Income (Billion yen) (Billion yen) FY Mar/25 Nine Months (Apr.- Dec.) FY Mar/26 Nine Months (Apr.- Dec.) Net change in price Cost variance, etc. Difference from foreign currency translation of overseas subsidiaries’ results Difference in quantity
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Copyright © 2026 Toray Industries, Inc. 14 Revenue Core Operating Income FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes FY Mar/25 Nine Months (Apr.-Dec.) FY Mar/26 Nine Months (Apr.-Dec.) Changes Toray International, Inc. 484.3 495.6 +11.3 11.4 9.8 -1.6 Toray Engineering Co., Ltd. 87.2 74.9 -12.2 3.8 3.6 -0.3 Toray Construction Co., Ltd. 28.9 45.2 +16.3 0.7 2.5 +1.8 Toray Advanced Film Co., Ltd. 31.5 31.3 -0.2 2.4 3.3 +0.9 Subsidiaries in Fibers & Textiles 122.4 110.1 -12.3 3.0 1.2 -1.8 Southeast Asia Performance Chemicals 88.4 79.9 -8.5 4.2 6.3 +2.1 Other 0.8 0.9 +0.1 0.0 0.1 +0.0 Total 211.6 191.0 -20.6 7.2 7.5 +0.3 Subsidiaries in China Fibers & Textiles 247.7 284.2 +36.4 24.4 28.4 +3.9 Performance Chemicals 96.0 93.8 -2.2 6.1 5.4 -0.7 Other 36.9 31.6 -5.3 3.0 2.1 -0.9 Total 380.6 409.6 +28.9 33.5 35.9 +2.4 Subsidiaries in the Fibers & Textiles 69.1 55.1 -14.0 ▲0.7 0.9 +1.6 Republic of Korea Performance Chemicals 134.6 124.4 -10.2 9.3 7.6 -1.7 Other 23.6 24.1 +0.5 2.0 2.3 +0.3 Total 227.3 203.6 -23.6 10.6 10.8 +0.2 Results of Major Subsidiaries and Regions Billion yen
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15 Business Forecast for the Fiscal Year Ending March 2026 (Consolidated Basis) II
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Copyright © 2026 Toray Industries, Inc. 16 Forecast Summary for the Fiscal Year Ending March 2026 FY Mar/25 Actual FY Mar/26 Forecast Changes Forecast announced on Nov. 14 Difference from the forecast announced on Nov. 14 Revenue 1st Half 1,294.1 1,234.3 -59.8 (-4.6%) 1,234.3 － 2nd Half 1,269.2 1,365.7 +96.5 (+7.6%) 1,395.7 -30.0 Total 2,563.3 2,600.0 +36.7 (+1.4%) 2,630.0 -30.0 Core Operating Income 1st Half 79.1 67.9 -11.3 (-14.2%) 67.9 － 2nd Half 63.6 82.1 +18.5 (+29.1%) 82.1 － Total 142.8 150.0 +7.2 (+5.1%) 150.0 － Profit Attributable to Owners of Parent 1st Half 55.5 36.9 -18.6 (-33.5%) 36.9 － 2nd Half 22.4 45.1 +22.7 (+101.3%) 45.1 － Total 77.9 82.0 +4.1 (+5.2%) 82.0 － Assumed exchange rate (from January onwards) 155 yen / US$ Basic Earnings per Share 1st Half 34.66 yen 24.23 yen 2nd Half 14.15 yen 30.28 yen Total 48.93 yen 54.43 yen Dividend per Share 1st Half 9.00 yen 10.00 yen 2nd Half 9.00 yen 10.00 yen Total 18.00 yen 20.00 yen Dividend Payout Ratio Total 37% 37% Assumptions for the business forecast The global economy is expected to continue with the gradual recovery phase. While the uncertainties stemming from the Trump t ariffs will remain high, their impact on the global economy is likely to be limited. The Japanese economy is also expected to continue with its gradual reco very. However, the prevailing economic trends will be affected by the direction of the trade and foreign policies of the U.S. and the responses from other countries, geopolitical tensions and rising prices of primary products, the future of AI demand, and the stagnation in the Chinese economy, which may also hav e a significant impact on the changes in the supply chains and trade structure in the medium- to long-term. (Billion yen)
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Copyright © 2026 Toray Industries, Inc. 17 Forecast by Segment FY Mar/25 Actual FY Mar/26 Forecast Changes 1st Half 2nd Half Total 1st Half 2nd Half Total 1st Half 2nd Half Total Revenue Fibers & Textiles 515.5 495.6 1,011.1 504.0 541.0 1,045.0 -11.5 +45.4 +33.9 Performance Chemicals 477.5 467.3 944.9 443.3 457.7 901.0 -34.2 -9.6 -43.9 Carbon Fiber Composite Materials 152.8 147.2 300.0 135.4 166.6 302.0 -17.4 +19.4 +2.0 Environment & Engineering 114.5 122.0 236.5 117.0 162.0 279.0 +2.5 +40.0 +42.5 Life Science 25.6 27.6 53.2 25.1 27.9 53.0 -0.5 +0.4 -0.2 Others 8.2 9.4 17.7 9.6 10.4 20.0 +1.4 +1.0 +2.3 Total 1,294.1 1,269.2 2,563.3 1,234.3 1,365.7 2,600.0 -59.8 +96.5 +36.7 Core Operating Income Fibers & Textiles 34.4 29.7 64.2 35.0 35.0 70.0 +0.6 +5.2 +5.8 Performance Chemicals 34.0 26.0 60.0 28.8 32.2 61.0 -5.2 +6.2 +1.0 Carbon Fiber Composite Materials 11.7 10.8 22.5 9.4 10.6 20.0 -2.3 -0.2 -2.5 Environment & Engineering 11.8 14.1 25.9 9.8 20.2 30.0 -2.0 +6.1 +4.1 Life Science ▲ 0.6 ▲ 0.2 ▲0.8 ▲ 1.1 1.1 0.0 -0.5 +1.3 +0.8 Others 0.6 1.8 2.4 ▲ 0.8 2.3 1.5 -1.4 +0.4 -0.9 Reconciliations ▲ 12.8 ▲ 18.7 ▲ 31.5 ▲ 13.3 ▲ 19.2 ▲ 32.5 -0.5 -0.5 -1.0 Total 79.1 63.6 142.8 67.9 82.1 150.0 -11.3 +18.5 +7.2 Core Operating Margin 6.1% 5.0% 5.6% 5.5% 6.0% 5.8% -0.6p +1.0p +0.2p Billion yen Toray expects increase in revenue and core operating income driven by sales expansion in the Fibers & Textiles and Environment & Engineering segments, as well as taking in the effects of the strategic pricing and profitability improvement projects. Difference from the forecast announced on Nov. 14 1st Half 2nd Half Total － +9.0 +9.0 － -15.0 -15.0 － -7.0 -7.0 － -15.0 -15.0 － -2.0 -2.0 － － － － -30.0 -30.0 － -1.5 -1.5 － － － － -3.0 -3.0 － +1.0 +1.0 － － － － － － － +3.5 +3.5 － － － － +0.1p +0.1p
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Copyright © 2026 Toray Industries, Inc. 18 Difference from the Forecast for Core Operating Income announced on Nov.14 by Segment Segments Full-year Core Operating Income Forecast* Forecast on Nov.14 → New ( ) difference Variance Factors Fibers & Textiles 71.5 → 70.0 （-1.5） • The apparel applications are expected to remain strong, mainly in sales of garments. On the other hand, in the industrial applications, impact from the sluggish demand is expected to expand Performance Chemicals 61.0 → 61.0 （±0.0） • Same as the previous forecast Carbon Fiber Composite Materials 23.0 → 20.0 （-3.0） • The aerospace applications are expected to be almost same as the previous forecast • The industrial applications are expected to be impacted by sales decrease stemming from the slower demand growth in the U.S. and European market and accompanying inventory adjustments Environment & Engineering 29.0 → 30.0 （+1.0） • The water treatment business, which mainly focuses on large-scale seawater desalination projects in the Middle East, and the plant construction business at the water treatment engineering subsidiary are expected to be strong Life Science 0.0 → 0.0 （±0.0） • Same as the previous forecast Other 1.5 → 1.5 （±0.0） Reconciliations ▲36.0 → ▲32.5 （+3.5） • Restriction on R&D expenditures at head office Total 150.0 → 150.0 （±0.0） * Billion yen
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19 III Reference
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Copyright © 2026 Toray Industries, Inc. 20 FY Mar/25 FY Mar/26 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Revenue Fibers & Textiles 244.8 270.7 259.1 236.5 1,011.1 239.9 264.1 300.9 Performance Chemicals 241.7 235.8 234.5 232.9 944.9 220.1 223.2 225.4 Carbon Fiber Composite Materials 77.7 75.1 70.4 76.7 300.0 66.9 68.5 77.3 Environment & Engineering 57.5 57.0 48.0 74.1 236.5 53.0 64.0 63.3 Life Science 12.1 13.4 13.6 14.0 53.2 11.7 13.3 13.4 Others 3.9 4.3 4.2 5.3 17.7 4.3 5.3 4.8 Total 637.7 656.4 629.8 639.4 2,563.3 595.8 638.5 685.2 Core Operating Income Fibers & Textiles 14.8 19.6 15.6 14.1 64.2 15.2 19.9 19.7 Performance Chemicals 18.3 15.6 14.1 12.0 60.0 13.6 15.2 14.3 Carbon Fiber Composite Materials 5.1 6.6 2.4 8.4 22.5 4.6 4.8 2.0 Environment & Engineering 5.1 6.7 5.2 9.0 25.9 3.1 6.7 7.7 Life Science ▲ 0.8 0.2 ▲ 0.3 0.1 ▲ 0.8 ▲ 1.0 ▲ 0.1 0.1 Others 0.3 0.3 0.4 1.4 2.4 0.1 ▲ 0.8 0.8 Reconciliations ▲ 6.1 ▲ 6.8 ▲ 7.7 ▲ 11.0 ▲ 31.5 ▲ 6.5 ▲ 6.8 ▲ 7.4 Total 36.8 42.4 29.6 34.0 142.8 29.1 38.8 37.2 Quarterly Revenue and Core Operating Income by Segment Billion yen
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Copyright © 2026 Toray Industries, Inc. 21 Quarterly Revenue of Performance Chemicals and Carbon Fiber Composite Materials by Sub-Segments FY Mar/25 FY Mar/26 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Resins, Chemicals 106.3 107.2 108.3 105.7 427.5 98.4 100.8 105.2 Films 96.2 91.0 88.9 89.3 365.3 87.1 86.9 84.3 Electronic & Information Materials 19.1 18.1 16.7 17.5 71.5 17.2 18.6 18.4 Trading, Other 141.1 143.2 138.7 130.6 553.7 128.3 127.6 126.9 Adjustments ▲ 121.0 ▲ 123.8 ▲ 118.0 ▲ 110.3 ▲ 473.2 ▲ 110.9 ▲ 110.7 ▲ 109.4 Total 241.7 235.8 234.5 232.9 944.9 220.1 223.2 225.4 FY Mar/25 FY Mar/26 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Aerospace 27.5 25.9 24.0 27.4 104.9 23.0 25.2 32.4 Sports 6.9 7.7 7.4 7.5 29.5 7.1 6.9 6.8 Industrial 43.3 41.5 39.1 41.8 165.6 36.7 36.4 38.1 Total 77.7 75.1 70.4 76.7 300.0 66.9 68.5 77.3 Performance Chemicals Carbon Fiber Composite Materials Billion yen Billion yen
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Copyright © 2026 Toray Industries, Inc. 22 Quarterly Revenue of Major Subsidiaries and Regions Billion yen FY Mar/25 FY Mar/26 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Toray International, Inc. 144.8 163.7 175.8 143.3 627.6 151.0 166.1 178.5 Toray Engineering Co., Ltd. 28.1 32.1 27.0 38.3 125.5 23.3 21.4 30.3 Toray Construction Co., Ltd. 10.3 9.9 8.7 18.7 47.6 10.0 21.7 13.5 Toray Advanced Film Co., Ltd. 10.1 10.4 11.0 10.0 41.5 10.6 10.2 10.5 Subsidiaries in Fibers & Textiles 40.3 42.0 40.1 37.2 159.6 34.5 38.8 36.9 Southeast Asia Performance Chemicals 28.2 30.4 29.8 30.0 118.4 25.7 26.7 27.5 Other 0.2 0.2 0.3 0.3 1.1 0.3 0.3 0.3 Total 68.7 72.6 70.3 67.5 279.1 60.5 65.8 64.7 Subsidiaries in China Fibers & Textiles 79.2 89.2 79.3 65.4 313.2 85.2 90.2 108.8 Performance Chemicals 31.3 32.4 32.4 33.2 129.2 28.8 30.7 34.3 Other 13.0 12.2 11.7 9.0 45.9 10.2 10.6 10.9 Total 123.5 133.8 123.3 107.6 488.2 124.1 131.5 154.0 Subsidiaries in Fibers & Textiles 24.8 22.9 21.4 19.0 88.1 17.8 17.9 19.4 the Republic of Korea Performance Chemicals 49.7 44.0 41.0 41.8 176.4 41.9 42.6 40.0 Other 8.3 7.7 7.6 8.3 31.9 8.1 7.9 8.1 Total 82.8 74.5 70.0 69.1 296.3 67.8 68.4 67.5
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Copyright © 2026 Toray Industries, Inc. 23 Quarterly Core Operating Income of Major Subsidiaries and Regions Billion yen FY Mar/25 FY Mar/26 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Toray International, Inc. 3.1 4.0 4.3 2.8 14.3 3.1 3.5 3.3 Toray Engineering Co., Ltd. 1.0 1.4 1.5 3.4 7.2 0.3 0.6 2.7 Toray Construction Co., Ltd. 0.3 0.7 ▲ 0.2 1.2 1.9 ▲ 0.1 1.5 1.1 Toray Advanced Film Co., Ltd. 0.6 0.7 1.0 1.0 3.3 1.0 1.0 1.3 Subsidiaries in Fibers & Textiles 1.4 1.1 0.5 ▲0.2 2.8 ▲ 0.0 0.7 0.5 Southeast Asia Performance Chemicals 1.1 1.4 1.7 1.9 6.1 1.9 2.0 2.5 Other 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 Total 2.5 2.6 2.2 1.7 8.9 1.9 2.7 3.0 Subsidiaries in China Fibers & Textiles 7.3 9.5 7.6 6.2 30.7 7.6 9.3 11.5 Performance Chemicals 2.3 2.2 1.5 1.9 8.0 1.7 1.9 1.8 Other 1.2 0.9 0.9 0.1 3.1 0.7 0.8 0.7 Total 10.7 12.7 10.1 8.2 41.7 10.0 12.0 13.9 Subsidiaries in Fibers & Textiles ▲ 0.3 ▲ 0.4 0.0 ▲ 0.8 ▲ 1.5 0.2 0.2 0.5 the Republic of Korea Performance Chemicals 4.8 2.6 1.9 1.5 10.8 3.3 2.5 1.8 Other 0.9 0.4 0.7 1.0 3.0 0.7 0.7 0.9 Total 5.4 2.6 2.6 1.7 12.3 4.3 3.4 3.2
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Copyright © 2026 Toray Industries, Inc. 24 External Evaluations from the Perspectives of ESG June 2025 MSCI Selection Indexes June 2025 FTSE4Good Index Series ■ MSCI ■ Selected as a component of major overseas indexes Water Security：A Climate Change：A- ■ CDP December 2024 Dow Jones Best-in-Class Asia Pacific Index December 2025August 2025 ■ S&P Global Sustainability Yearbook Member February 2025 June 2025 SOMPO Sustainability Index *1 The use by Toray Industries, Inc. of any MSCI ESG Research LLC or its Affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Toray Industries, Inc. by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks OF MSCI. *2 The inclusion of Toray Industries, Inc. in any MSCI Index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement or promotion of Toray Industries, Inc. by MSCI or any of its affiliates. The MSCI indexes are the exclusive property of MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates. ■ Selected for indices used by GPIF
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Copyright © 2026 Toray Industries, Inc. Descriptions of predicted business results, projections, and business contained in this material are based on predictive forecasts of the future business environment made at the present time. The material in this presentation is not a guarantee of the Company’s future business performance.
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Copyright © 2026 Toray Industries, Inc.