Interim report
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tok Company name : Listing : Securities Code : Consolidated Financial Results for the Second Quarter ( Interim ) of the Fiscal Year Ending December 31 , 2026 [ J - GAAP ] Tokyo Ohka Kogyo Co. , Ltd. Tokyo Stock Exchange ( Prime Market ) 4186 URL : https://www.tok.co.jp/eng Representative : Noriaki Taneichi , President and Chief Executive Officer Inquiries : Tetsuya Kawata , General Manager , Accounting Department Scheduled date to file semi - annual securities report : Scheduled date to commence dividend payments : Preparation of supplementary material on financial results : Holding of financial results briefing : TEL : + 81-44-435-3000 August 7 , 2026 September 7 , 2026 Yes Yes ( For institutional investors and analysts ) Y FASE August 6 , 2026 ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated Financial Results for the Second Quarter ( Interim ) of the Fiscal Year Ending December 31 , 2026 ( January 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( % indicates the rate of increase / decrease year - on - year . ) Net sales Operating income Ordinary income Profit attributable to owners of parent First six months ended June 30 , 2026 June 30 , 2025 Millions of yen 139,668 111,623 % Millions of yen % Millions of yen % Millions of yen % 25.1 17.8 28,854 19,846 45.4 30,272 48.5 20,409 49.9 47.6 20,381 44.4 13,619 49.0 ( Note ) Comprehensive income : First six months ended June 30 , 2026 First six months ended June 30 , 2025 ¥ 27,265 million [ 92.0 % ] ¥ 14,200 million [ -16.0 % ] First six months ended June 30 , 2026 June 30 , 2025 Basic earnings per share Diluted earnings per share ( 2 ) Consolidated Financial Position As of June 30 , 2026 ( Reference ) December 31 , 2025 Equity : 2. Cash Dividends Yen 170.21 113.83 Yen 170.12 113.73 Total assets Net assets Equity ratio Millions of yen Millions of yen 359,911 335,292 260,983 242,299 % 68.9 67.9 As of June 30 , 2026 : ¥ 247,932 million As of December 31 , 2025 : ¥ 227,636 million 1st quarter 2nd quarter Annual dividends 3rd quarter per share Year - end Total Yen Yen Yen Fiscal year ended December 31 , 2025 Fiscal year ending December 31 , 2026 35.00 40.00 Yen 37.00 Fiscal year ending December 31 , 2026 ( Forecast ) 40.00 Yen 72.00 80.00 ( Note ) Revisions to the most recently disclosed dividend forecasts : None 3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31 , 2026 ( January 1 , 2026 to December 31 , 2026 ) Net sales Millions of yen 291,000 % 22.8 ( % indicates the rate of increase / decrease year - on - year ) % 27.9 Ordinary income Millions of yen 63,000 Profit attributable to Basic earnings % owners of parent Millions of yen per share % 27.9 42,600 27.8 Yen 355.21 Operating income Millions of yen 60,600 ( Note ) Revisions to the most recently disclosed financial results forecast : None Full year
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* Notes (1) Significant changes in the scope of consolidation during the interim period: Yes New: 1 (micro resist technology GmbH) (2) Application of special accounting treatment in preparing the interim consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other re asons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 202 6 127 ,800 ,000 shares As of December 31, 202 5 127,800,000 shares (ii) Number of treasury shares at the end of the pe riod As of June 30 , 202 6 7,824,091 shares As of December 31, 202 5 7,922,099 shares (iii) Average number of shares outstanding during t he period First six months ended June 30 , 202 6 119,903,736 shares First six months ended June 30 , 202 5 119,646,194 shares * The Financial Results report for the second quarter (interim) is outside the scope of a review by certified public accountants or an audit firm. * Explanation of the proper use of financial results forecast and other special notes The financial results forecast stated in this report is based on the information available as of the date of the release of this report, and actual results may differ from the forecast due to a variety of factors. Note: This document has been translated from the Ja panese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
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- 1 - ○Table of contents of the attached document 1. Qualitative Information on Consolidated Financial Results for the First Six Months of the Fiscal Year Ending December 31, 2026 ...................................................................................................................................................... 2 (1) Explanation about Operating Results .................................................................................................................. 2 (2) Explanation about Financial Position ................................................................................................................. 2 (3) Explanation about Future Forecast Information Including Consolidated Financial Results Forecast ............ 2 2. Interim Consolidated Financial Statements and Major Notes ................................................................................ 3 (1) Interim Consolidated Balance Sheet ................................................................................................................... 3 (2) Interim Consolidated Statement of Income and Interim Consolidated Statement of Comprehensive Income ............. 5 Interim Consolidated Statement of Income ........................................................................................................ 5 Interim Consolidated Statement of Comprehensive Income .............................................................................. 6 (3) Interim Consolidated Statement of Cash Flows ................................................................................................. 7 (4) Notes to the Interim Consolidated Financial Statements ................................................................................... 8 (Notes Concerning Segment Information, Etc.) ................................................................................................. 8 (Notes Concerning Significant Changes in Shareholders’ Equity) .................................................................. 8 (Notes Concerning Going Concern Assumption) ............................................................................................. 8 (Notes Concerning Interim Consolidated Statement of Income) ....................................................................... 8 (Revenue Recognition) ........................................................................................................................................ 8
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- 2 - 1. Qualitative Information on Consolidated Financial Results for the First Six Months of the Fiscal Year Ending December 31, 2026 (1) Explanation about Operating Results During the six months ended June 30, 2026, the elec tronics market, which is the main customers for the Group’s products, saw a year-on-year increase in demand for semiconductors driven by strong demand for AI serv ers used in data centers. Amid such circumstances, the Group has been promoti ng “tok Medium-Term Plan 2027,” a medium-term plan covering the three-year period from FY2025 to FY202 7, to realize the management vision to become “The e -Material Global Company TM ” contributing to a sustainable future through chemistry. In February 2026, we partially revised our quantitative objectives in light of developments in the semiconductor market and foreign exchange trends, and remained fully committed to advancing our company-wide strategies. As a result, for the six months ended June 30, 2026 , the Group recorded net sales of ¥139,668 million (up 25.1% year-on-year), operating income of ¥28,854 million (up 45.4% year-on-year), ordinary income of ¥30,272 million (up 48.5% year-on-year), and profit attributable to owners of parent of ¥20,409 million (up 49.9% year-on-year). Net sales in the Electronic Functional Materials amounted to ¥74,155 million (up 27.5% year-on-year), in the High- Purity Chemicals amounted to ¥63,008 million (up 21 .2% year-on-year) and in the other amounted to ¥2,5 04 million (up 68.3% year-on-year). (2) Explanation about Financial Position (Assets) Total assets as of June 30, 2026 increased by ¥24,618 million from December 31, 2025 to ¥359,911 million. Total current assets increased by ¥12.2 billion mai nly due to increases in notes and accounts receivab le – trade of ¥7,479 million and inventories of ¥4,267 million. Total non-current assets increased by ¥12,418 million mainly due to an increase in property, plant and equipment of ¥9,674 million associated with capital investments. (Liabilities) Total liabilities as of June 30, 2026 increased by ¥5,934 million from December 31, 2025 to ¥98,927 million mainly due to an increase in notes and accounts payable - trade of ¥4,085 million. (Net assets) Total net assets as of June 30, 2026 increased by ¥ 18,684 million from December 31, 2025 to ¥260,983 m illion mainly due to increases in retained earnings of ¥15,662 million and valuation difference on available-for-sale securities of ¥3,631 million. As a result, the equity ratio as of June 30, 2026 stood at 68.9%. (3) Explanation about Future Forecast Information Including Consolidated Financial Results Forecast There has been no change from the financial results forecast announced in the “Notice on Revisions of F orecast” released on July 30, 2026. The foreign exchange rate is assumed to be $1= ¥155. If a revision becomes necessary, we will promptly disclose it.
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- 3 - 2. Interim Consolidated Financial Statements and Major Notes (1) Interim Consolidated Balance Sheet (Millions of yen) FY12/25 (As of December 31, 2025) First six months of FY12/26 (As of June 30, 2026) Assets Current assets Cash and deposits 70,962 70,794 Notes and accounts receivable - trade 48,645 56,125 Merchandise and finished goods 14,910 17,115 Work in process 10,849 11,682 Raw materials and supplies 18,246 19,476 Other 9,248 9,878 Allowance for doubtful accounts (90) (97) Total current assets 172,773 184,974 Non-current assets Property, plant and equipment Buildings and structures, net 43,383 49,179 Other, net 66,810 70,689 Total property, plant and equipment 110,193 119,868 Intangible assets 1,834 3,884 Investments and other assets Retirement benefit asset 10,083 10,155 Other 40,406 41,028 Total investments and other assets 50,490 51,184 Total non-current assets 162,518 174,937 Total assets 335,292 359,911
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- 4 - (Millions of yen) FY12/25 (As of December 31, 2025) First six months of FY12/26 (As of June 30, 2026) Liabilities Current liabilities Notes and accounts payable - trade 29,544 33,629 Short-term borrowings 383 69 Income taxes payable 6,863 7,906 Provision for bonuses 4,575 4,385 Other 18,005 18,149 Total current liabilities 59,373 64,140 Non-current liabilities Bonds payable 10,000 10,000 Long-term borrowings 16,100 16,100 Retirement benefit liability 359 387 Other 7,159 8,299 Total non-current liabilities 33,619 34,787 Total liabilities 92,993 98,927 Net assets Shareholders' equity Share capital 14,640 14,640 Capital surplus 15,899 16,299 Retained earnings 184,384 200,046 Treasury shares (16,586) (16,377) Total shareholders’ equity 198,337 214,609 Accumulated other comprehensive income Valuation difference on available -for -sale securities 11,492 15,124 Foreign currency translation adjustment 14,103 14,780 Remeasurements of defined benefit plans 3,703 3,418 Total accumulated other comprehensive income 29,299 33,323 Share acquisition rights 79 43 Non-controlling interests 14,583 13,007 Total net assets 242,299 260,983 Total liabilities and net assets 335,292 359,911
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- 5 - (2) Interim Consolidated Statement of Income and Interim Consolidated Statement of Comprehensive Income (Interim Consolidated Statement of Income) (Millions of yen) First six months of FY 12/25 (January 1, 2025 – June 30, 2025) First six months of FY 12/26 (January 1, 2026 – June 30, 2026) Net sales 111,623 139,668 Cost of sales 70,475 85,718 Gross profit 41,147 53,950 Selling, general and administrative expenses 21,301 25,096 Operating income 19,846 28,854 Non-operating income Interest income 213 250 Dividend income 349 360 Share of profit of investments accounted for using equity method 151 265 Gain on valuation of derivatives － 60 Subsidy income 396 535 Other 235 322 Total non-operating income 1,347 1,795 Non-operating expenses Interest expenses 67 178 Loss on valuation of derivatives 295 － Foreign exchange losses 167 161 Other 281 37 Total non-operating expenses 812 377 Ordinary income 20,381 30,272 Extraordinary income Gain on sale of non-current assets 9 357 Gain on sale of investment securities － 945 Gain on receipt of contingent consideration 1,422 － Total extraordinary income 1,432 1,302 Extraordinary losses Loss on retirement of non-current assets 53 45 Total extraordinary losses 53 45 Profit before income taxes 21,761 31,529 Income taxes - current 5,632 8,416 Income taxes - deferred (219) (493) Total income taxes 5,413 7,922 Profit 16,347 23,606 Profit attributable to non-controlling interests 2, 728 3,197 Profit attributable to owners of parent 13,619 20,409
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- 6 - (Interim Consolidated Statement of Comprehensive Income) (Millions of yen) First six months of FY 12/25 (January 1, 2025 – June 30, 2025) First six months of FY 12/26 (January 1, 2026 – June 30, 2026) Profit 16,347 23,606 Other comprehensive income Valuation difference on available -for -sale securities (104) 3,631 Foreign currency translation adjustment (1,923) 311 Remeasurements of defined benefit plans (118) (284) Total other comprehensive income (2,146) 3,659 Comprehensive income 14,200 27,265 Comprehensive income attributable to: Owners of parent 11,714 23,917 Non-controlling interests 2,486 3,348
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- 7 - (3) Interim Consolidated Statement of Cash Flows (Millions of yen) First six months of FY 12/25 (January 1, 202 5 – June 30, 202 5) First six months of FY 12/26 (January 1, 202 6 – June 30, 202 6) Cash flows from operating activities Profit before income taxes 21,761 31,529 Depreciation 4,147 5,341 Amortization of goodwill － 113 Increase (decrease) in provision for bonuses 255 (200) (Decrease) increase in provision for bonuses for directors (and other officers) (446) 225 Increase in retirement benefit asset (162) (291) Decrease in retirement benefit liability (51) (45) Interest and dividend income (563) (611) Interest expenses 67 178 Foreign exchange losses 224 0 Loss (gain) on valuation of derivatives 295 (60) Share of profit of investments accounted for using equity method (151) (265) Gain on sale of non-current assets (9) (357) Loss on retirement of non-current assets 53 45 Gain on sale of investment securities － (945) Gain on receipt of contingent consideration (1,422) － Increase in trade receivables (1,310) (6,583) Increase in inventories (2,185) (4,069) Increase in trade payables 1,572 3,447 Increase in advances received 18 360 Other (593) 791 Subtotal 21,498 28,603 Interest and dividends received 562 600 Interest paid (67) (179) Income taxes paid (6,149) (7,388) Net cash provided by operating activities 15,843 21,636 Cash flows from investing activities Proceeds from redemption of securities 3,000 － Purchase of property, plant and equipment (13,849) (17,282) Proceeds from sale of property, plant and equipment 29 590 Purchase of investment securities (2,837) (58) Proceeds from sale of investment securities － 1,210 Purchase of intangible assets (321) (391) Net decrease (increase) in time deposits 1,000 (791) Proceeds from settlement of contingent consideration 1,422 － Other (46) 14 Net cash used in investing activities (11,603) (16,707) Cash flows from financing activities Proceeds from short-term borrowings 363 － Repayments of short-term borrowings (509) (401) Proceeds from long-term borrowings 10,000 － Repayments of long-term borrowings (3,900) － Dividends paid (4,072) (4,432) Dividends paid to non-controlling interests (4,184) (3,389) Other (275) (119) Net cash used in financing activities (2,578) (8,342) Effect of exchange rate change on cash and cash equivalents (1,596) 735 Net increase (decrease) in cash and cash equivalents 64 (2,678) Cash and cash equivalents at beginning of period 56 ,361 69,228 Increase in cash and cash equivalents resulting from change in scope of consolidation － 1,652 Cash and cash equivalents at end of period 56,425 6 8,202
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- 8 - (4) Notes to Interim Consolidated Financial Stateme nts (Notes Concerning Segment Information, Etc.) [Segment information] I First six months of the fiscal year ended Decembe r 31, 2025 (January 1, 2025 – June 30, 2025) 1. Information about net sales and income or loss by reportable segment The disclosure is omitted as the Group operates a single business segment. II First six months of the fiscal year ending Decem ber 31, 2026 (January 1, 2026 – June 30, 2026) 1. Information about net sales and income or loss by reportable segment The disclosure is omitted as the Group operates a single business segment. (Notes Concerning Significant Changes in Shareholders’ Equity) Not applicable. (Notes Concerning Going Concern Assumption) Not applicable. (Notes Concerning Interim Consolidated Statement of Income) * Gain on receipt of contingent consideration First six months of the fiscal year ended December 31, 2025 (January 1, 2025 – June 30, 2025) A share transfer agreement previously entered into by the Company contained a clause stipulating that additional consideration may be received if certain conditions are met. For the first six months ended June 30, 2025, the Company met the conditions and received a dditional consideration, which was recorded in extraordinary income. (Revenue Recognition) Information on the breakdown of revenue arising from contracts with customers The Group operates a single business segment, and the information on the breakdown of revenue arising from contracts with customers is as follows. (Millions of yen) First six months of FY 12/25 (January 1, 202 5 – June 30, 202 5) First six months of FY 12/26 (January 1, 202 6 – June 3 0, 202 6) Electronic functional materials 58,149 74,155 High-purity chemicals 51,985 63,008 Other 1,488 2,504 Revenue from contracts with customers 111,623 139,668 Other revenue － － Net sales to customers 111,623 139,668