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ＰＣＩホールディングス株式会社 （東証スタンダード市場：3918） 2026.2.12 Financial Results for the Nine Months Ended December/31/2025 PCI Holdings, INC. (TSE Standard Market: 3918)
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Contents 1．PCI Group Business introduction 2．Major Releases 3．Q3 FY3/2026 Consolidated Financial Highlights 4．Q3 FY3/2026 Consolidated Financial Results 5．Shareholder Returns (Reference) About the PCI Group
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PCI Group Business introduction
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PCI Group Business introduction 3 Providing software technology solutions for challenges across a wide range of industries, including social infrastructure (finance, logistics, healthcare) and sectors like automotive, telecommunications, manufacturing, and government/public agencies. In recent years, driven by the growth of SDV¹ in the mobility sector, we are particularly focused on promoting the development of AD/ADAS² using platforms such as AUTOSAR³. Designing, developing, and selling hardware products and devices for specific industries, including embedded PCs and edge computers for the medical, printing, and retail sectors, as well as semiconductor design, testing, and LSI turnkey services. Solving challenges across a broad range of fields by providing comprehensive ICT consulting services, which include AI implementation, cloud integration, and the development of IoT platforms. Engineering Business Products /Devices Business ICT Solutions Business ※1 SDV (Software Defined Vehicle): The concept of a vehicle whose functions and features are defined and controlled by software, enabling performance to be enhanced through updates even after purchase. ※2 AD/ADAS (Autonomous Driving/Advanced Driver-Assistance Systems):Systems that support driver safety and convenience, such as autonomous driving (AD) and advanced driver-assistance systems (ADAS). ※3 AUTOSAR (AUTomotive Open System Architecture): A standardized platform specification aimed at improving the efficiency of software development in the automotive industry and standardizing the development of in-vehicle software.
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Q3 FY3/2026 Major Releases
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Q3 FY3/2026 Major Releases 5 Release Date Classification Description Oct 15, 2025 PR PCI Solutions, Inc. exhibited at "Mediceo Medical Fair 2025 in West Japan". Oct 28 PR PCI Solutions, Inc. signed a sales agency agreement with Hutzper Inc. Oct 30 PR SORD corporation received the FY2025 Award for Meritorious Service in Health, Labour and Welfare Statistics. Nov 11 PR SORD corporation exhibited embedded PCs at EdgeTech+ 2025 Nov 12 Other PCI Solutions, Inc. sponsored the 14th NIPPON IT Charity Ekiden as a Gold Sponsor. Nov 13 Timely Disclosure Consolidated Financial Results for the Six Months Ended September/30/2025 Nov 13 Timely Disclosure 2Q Financial Results for the six months ended September/30/2025 Nov 13 Timely Disclosure Dividend announcement. Nov 18 PR PCI Solutions, Inc. developed a solution using AWS serverless to solve invoice business issues. Nov 25 PR PCI Solutions, Inc. exhibited at "Mediceo Medical Fair 2025 in Tokai". Dec 11 IR Sessa Partners Inc. issued a follow-up sponsored research report. Dec 18 Other Held an online seminar for individual investors.
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Q3 FY3/2026 Financial Highlights
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Q3 FY3/2026 Financial Highlights 7 ◼ Net sales were 19,545 million yen and operating profit was 989 million yen, resulting in a year-on-year increase in both sales and profit Net sales：19,545 million yen （YoY＋4.5％） Operating profit：989 million yen （YoY＋26.1％） Operating profit margin：5.1％ Actual Results （YoY＋0.9p） For a year-on-year performance comparison, the results from April to December 2024 are used as the comparative period.
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Q3 FY3/2026 Financial Highlights 8 ◼ Net sales and operating profit both saw steady year-on-year growth 18,962 18,705 19,545 Apr-Dec 2023 Apr-Dec 2024 Apr-Dec 2025 746 785 989 Apr-Dec 2023 Apr-Dec 2024 Apr-Dec 2025 +204 (+26.1％) Net sales Operating profit For a year-on-year performance comparison, the results from April to December 2024 are used as the comparative period. ※ Reference data +840 (+4.5％) (Unit: millions yen) (Unit: millions yen) *Reference data: This figure is calculated excluding the performance of leafnet Co., Ltd. (and its subsidiaries), which were transferred in September 2023. ※ Reference data
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Q3 FY3/2026 Financial Results
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Q3 FY3/2026 Consolidated Financial Results 10 ◼ Steady growth in both net sales and operating profit (Unit: millions yen) ①Apr-Dec 2024 ②Apr-Dec 2025 Amount Increase/Decrease (②‐①) % of Increase/ Decrease Net sales 18,705 19,545 +840 +4.5% Gross profit 4,291 4,603 +311 +7.3% Gross profit margin 22.9% 23.6% +0.7p － SG&A expenses 3,505 3,613 +107 +3.1% Operating profit 785 989 +204 +26.1% Operating profit margin 4.2% 5.1% +0.9p － Ordinary income 719 1,028 +309 +43.0% Quarterly net income before income taxes 1,024 1,049 ＋25 +2.5% Profit attributable to owners of parent (9 months) 745 707 ▲37 ▲5.1% EBITDA 1,030 1,236 +206 +20.0% EBITDA margin 5.5％ 6.3% +0.8p － *The reason for the decrease in net income despite the increase in ordinary income is due to one-time factors in the same period of the previous year (impact of gain on sale of investment securities and the recording of a prior-year tax refund). For a year-on-year performance comparison, the results from April to December 2024 are used as the comparative period.
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Q3 FY3/2026 Consolidated Financial Results 11 (Unit: millions yen) FY3/26 Q3 Net sales FY3/26 Q3 Gross Profit (Profit Margin) FY3/26 Q3 Segment Profit (Profit Margin)YoY※ YoY※ YoY※ Engineering Business Segment 10,643 +326 (+3.2%) 2,373 (22.3%) +150 (+6.8%) 786 (7.4%) +18 (+2.4%) Product/Device Business Segment 5,913 ▲123 (▲2.0%) 1,231 (20.8%) ▲11 (▲0.9%) 275 (4.7%) +51 (+23.0%) ICT Solutions Business Segment 3,092 +686 (+28.5%) 1,075 (34.8%) +209 (+24.2%) 482 (15.6%) +103 (+27.3%) Consolidated Financial Results 19,545 +840 (+4.5%) 4,603 (23.6%) +311 (+7.3%) 989 (5.1%) +204 (+26.1%) Stable Core Businesses Growth Drivers ⚫ Engineering: The mobility sector remains solid. Large - scale system development projects contributed to performance. The utilization of generative AI tools is accelerating. ⚫ Product / Device: Embedded PCs struggled due to a decrease in orders, rising material costs, and currency exchange impacts. Semiconductors remained flat year - on - year, showing sluggish growth. ⚫ ICT Solution: Steady performance in cloud/ERP - related areas and an increase in software license projects for financial institutions contributed to results. For a year-on-year performance comparison, the results from April to December 2024 are used as the comparative period.
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System Development Utilizing AI 12 ◼ Developing "AI-applied SEs" who use AI to increase the efficiency of system development Comparison of Traditional vs. New System Development Traditional system Development System Development Utilizing AI ◼ Human (Manual) work/ verification ◼ Efficiency improvement through AI Programming Design Testing Design Programming Testing ◼ Automation progresses in the programming stage through AI use. Simultaneously, AI use becomes possible in the design and testing stages. ◼ The talent needed in the future will be SEs who can apply AI to develop the process from design to testing efficiently in a short time (Demand for traditional programmers will decrease). ◼ We actively encourage a shift to development methods utilizing generative AI tools, growing "AI-applied SEs" through practice in our own system development and application in projects for customers. Evolution into AI-applied SEs Visual ratio is image for usage
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Analysis of Year-on-Year Change in Operating Profit ◼ Driven by a significant increase in gross profit, operating profit increased by 204 million yen, up 26.1% year - on - year. ◼ This growth successfully absorbed the rise in strategic investments aimed at strengthening human capital (personnel, recruitment, and education costs), as well as increased R&D expenses. Apr-Dec 2024 Apr-Dec 2025 785 +311 +3 ▲33 ▲10 ▲61+6 989▲12 13 +204 (+26.1％) For a year-on-year performance comparison, the results from April to December 2024 are used as the comparative period. Gross profit increase Business-related expenses Personnel expenses R&D expenses Other SG&A expenses Recruiting and training expenses Facility-related expenses (Unit: millions yen) Operating profit
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(Reference) Consolidated Balance Sheet 14 ◼ Total assets were 15,893 million yen, a decrease of 6 million yen compared to the end of FYE March 2025. ◼ Liabilities were 6,167 million yen, a decrease of 280 million yen from the end of the previous fiscal year, driven by decrease in trade payables and progress in the repayment of borrowings. ◼ Net assets reached 9,726 million yen, an increase of 274 million yen from the end of the previous fiscal year. The equity ratio was 58.4% (Shareholders' equity: 9,279 million yen). 14 (Unit: millions yen) FY3/2025 Q3 FY3/2026 Current assets 12,123 12,400 Cash and deposits 4,085 3,647 Trade receivables 6,117 5,698 Other 1,921 3,055 Non-current assets 3,776 3,492 Property, plant and equipment 830 777 Goodwill 1,507 1,371 Other 1,439 1,344 Total assets 15,900 15,893 (Unit: millions of yen) FY3/2025 Q3 FY3/2026 Current liabilities 5,438 5,236 Trade payables 2,521 2,506 Borrowings and bonds payable 195 101 Other 2,722 2,629 Non-current liabilities 1,009 930 Borrowings and bonds payable 315 232 Other 561 561 Total liabilities 6,448 6,167 Total net assets 9,452 9,726 Total liabilities and net assets 15,900 15,893
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Shareholder Returns
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Shareholder Returns 16 ◼ Shareholder Return Policy: Aiming for a total payout ratio of 50% or more, combining stable, continuous dividends with flexible share buybacks. ◼ For the fiscal year ending March 2026, planning a dividend of 44 yen per share, comprised of a 19 yen interim dividend and a 25 yen(plan) year - end dividend. Note: Considering flexible share buybacks and/or cancellations of treasury stock as appropriate. ※Due to the irregular six-month fiscal year ending March 2025, no interim dividend will be paid. 17 19 18 25 25 10 0 10 20 30 40 50 60 70 FY9/24 FY3/25 FY3/26 (yen) 200 million Half-year results (Plan) Target 50% or more79.0% 50.6% (Plan)
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Company Profile
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PCI Holdings, INC. 18 We pursue the happiness of all our employees through customer satisfaction, and contribution to the development of society. Corporate Philosophy Corporate Name PCI Holdings, Inc. Capital 2,091.89 million yen (As of Mar 31, 2025) Established April 2005 Net sales (Consolidated) 13,278 million yen (FY3/2025 (6 month) results) 28,200 million yen (FY3/2026 (12 month) forecast) Listing Tokyo Stock Exchange Standard Market (Securities code: 3918) Operating profit (Consolidated) 679 million yen (FY3/2025 (6 month) results) 2,100 million yen (FY3/2026 (12 month) forecast) Location 1-21-19 Toranomon, Minato-ku, Tokyo, 105-0001 No. of employees (Consolidated) 1,632 (As of Mar 31, 2025) Representatives Kensaku Morishita, President Consolidated subsidiaries PCI Solutions INC. SORD CORPORATION PRIVATECH Inc. PCI meaning Positively, Change, Innovate
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19 PCI Group Composition (As of Oct 1, 2025) 50% PRIVATECH Semiconductor solutions Software and hardware development FPGA development https://privatech.jp Representative: Kensaku Morishita Established: April 1989 Capital: 100 million yen SORD https://www.sord.co.jp/ Representative: Yuji Sudo Established: April 1970 Capital: 499 million yen Embedded PC sales, design, manufacturing, and maintenance services PCI Solutions https://www.pci-sol.com/ Representatives: Masaaki Numata Established: September 2012 Capital: 360 million yen Embedded development, financial systems, IoT solutions, IT infrastructure building, sales and maintenance of mainframe PCI Holdings https://www.pci-h.co.jp/ Representatives: Kensaku Morishita Established: April 2005 Capital: 2,091 million yen Restar Corporation Capital and business alliances 100% 100% (TSE Prime Market:3156) - Group company integration - Corporate action planning and promotion - Internal control and internal auditing of the entire group - Centralized management of finance, accounting, procurement of funds, etc. 51.1% Institute of PCI Solutions https://www.pci-sri.co.jp/ Research on Information Technology PJS https://www.pjs.c o.jp/ Software development System integration NSR http://nihonsystemresearc h.co.jp/ Software development 50%
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Operating Companies and Description 20 PCI Solutions ・Software engineering company that provides technical capabilities for any industry or field ・Particularly strong in embedded systems development Engineering Business Product/ Device Business ICT Solutions Business ・System engineering company with strengths in semiconductor design and testing technologies ・Testing house located near the Tokyo metropolitan area - Embedded software development (Manufacturers: mainly for automotive, telecommunications, information appliances, etc.) - Enterprise software development (System integrators: mainly for finance, distribution, manufacturing, government, etc.) - Kitting services (System integrators and manufacturers: mainly for medical, retail, etc.) - Call center services (Manufacturers: PC help desk, etc.) - ODM services (IoT solutions) - SI services (Solutions using AI) - Design and testing of semiconductors (For semiconductor manufacturers) - LSI turnkey service (For electronic device manufacturers) - Solutions using AI - Cloud service Integration - Development of embedded computers (Manufacturers: for medical equipment, printing machines, etc.) - Computer development for edge computing (System integrators: for medical, retail, etc.) PRIVATECH IT services meeting customer requirements and specifications across a wide range of industries Design, development, and sales of hardware products and devices for specific industries Problem solving through consulting and services that utilize ICT in a wide range of fields – – – Mutual collaboration by topic and by project ・The first PC manufacturer in Japan ・50 years in business and highly reliable technology ・Embedded PC manufacturer SORD
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Executive Structure and Office Location (As of Jun 24, 2025) 21 Position Name Career, etc. Chairman Masato Tozawa General Manager, Marketing Division, Fujitsu Ltd. Director & General Manager, Fujitsu Business Systems Ltd. President & Representative Director, Tsuzuki Embedded Solutions Ltd. Senior Managing Executive Officer, Restar Corporation President & Representative Director Kensaku Morishita Division Manager, Integrated Product Strategy Division, Fujitsu Ltd. Executive Officer & Division Manager, Fujitsu Marketing Ltd. President & Representative Director, Fujitsu Coworco Ltd. Director Naohiro Iguchi General Manager, Corporate Planning Office, Profit Cube Inc. Director & General Manager PCI Holdings, INC. Director Kazuya Sugizono General Manager, Finance & Accounting Office, Profit Cube Inc. Executive Officer & General Manager, Finance & Accounting PCI Holdings, INC. Outside Director Hiroyuki Nakamura Managing Director, Advanced Technology & Management Japan, Ltd President & Representative Director, ATM Japan Business Services, Ltd. Full-time Auditor, SocioFuture Ltd. Director (Full-time Member of A&S Committee) Yuji Ikuta President & Representative Director, CLC Corporation Full-time Auditor, PCI Solutions INC. Outside Director (Member of A&S Committee) Yuji Sakakura Nissho Iwai Corporation (now Sojitz Corporation)General Manager, Financial Markets Department GCA Corporation (now Houlihan Lokey, Inc.)Director and CFO (Chief Financial Officer) SWCC SHOWA HOLDINGS CO., LTD. (now SWCC Corporation)June 2020 - Present: Outside Director, Audit and Supervisory Committee Member Outside Director (Member of A&S Committee) Shinnosuke Maki Representative, Maki Shinnosuke Certified Public Accountant Office President & Representative Director, MSPG Consulting Outside Auditor, EM Systems Co. Ltd. Auditor, Kagoshima Professional Sports Project Outside Director (Member of A&S Committee) Yasufumi Sakurai Partner, Harumi Partners Law Firm Outside Director (Member of A&S Committee), TriIs Inc. Representative, Org. for Promotion of Sports & Compliance Education Tokyo (Headquarters: Toranomon) Osaka Kumamoto (Technical Center) Nagoya Kanagawa Chiba★ ● ● ● ● ● ● Fukuoka
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22 Disclaimer No information in this material is intended as a solicitation to buy or sell our stock. The forecasts and other forward-looking statements contained in this material are based on the information available to us at the time the material was prepared and involve potential risks and uncertainties. Therefore, please be aware that, due to various factors, actual results may differ materially from those projected in the forward -looking statements. In the event that you suffer any loss or damage based on this information, neither our Company nor the information providers shall be liable for any loss or damage. Contact information Group Strategy and IR Section, PCI Holdings, INC. E-mail : ir@pci-h.co.jp
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Positively, Change, Innovate