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ROHTO❘ Results of Operations for Q1 2026 | April 2026 to June 2026 August 6 , 2026 ロート は 、 ハート だ 。 ROHTO Rohto Pharmaceutical Co. , Ltd. Securities code : 4527
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1 01 | Results of Operations for Q1 2026 | Forecast for FY3/2027 03 | Appendix | Contents 02
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2 Vice President and CFO Masaya Saito | Results of Operations for Q1 2026 | April 2026 to June 2026
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3 | Abbreviation FY LY O.I. COGS SG&A EBITDA JPY xxx m JPY xxx bn Rohto(standalone) Rohto Nitten QTP Amato EYS Hydrox Ophthalmos DAX Mono : Fiscal year (FY2027 represents the period from Apr 2026 to March 2027) : Last year : Operating income : Cost of goods sold : Selling, General and Administrative expenses : Earnings before interest, taxes, depreciation and amortization : JPY xxx Million : JPY xxx Billion : Rohto Pharmaceutical Co., Ltd. : ROHTO NITTEN Co., Ltd. : Qualitech Pharma Co., Ltd. : Amato Pharmaceutical Products, Ltd. : Eu Yan Sang International Ltd. : Hydrox Laboratories, Inc. : Ophthalmos S.A. : DAX Cosmetics Sp. z o.o. : Mono chem-pharm Produkte GmbH
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4 | Sales：JPY 91,624m +11.8％ (YoY), Impact of FX: +JPY 3.8bn | Rohto (standalone) performed well Japan Sales of “Hadalabo”, eye drops for young users, “Rohto V5”, “Obagi”, premium eye drops and “Care Cera” performed well. Subsidiary Amato, QTP and Rohto Nitten contributed to sales growth. Asia Vietnam, China, Malaysia, Myanmar, Taiwan and Indonesia performed well. Sales of Eu Yan Sang International Ltd. ( EYS) significantly increased. Impact of FX: Sales +JPY 2.4bn Americas Mentholatum US and Brazilian subsidiary contributed to sales growth. Sales decreased in Hydrox Laboratories, which manufactures and sells medical disinfectants. Europe Sales significantly increased in UK and Dax Cosmetics in Poland and South Africa. Sales decreased in Mono due to lower contract manufacturing. | O.I.：JPY 13,663m +16.8％(YoY), Impact of FX: +JPY 700m | Asia performed well | Q1 2026 Key Highlights Japan Lower COGS thanks to price increase of “Hadalabo” contributed to profit increase. (Rohto standalone: Significant profit growth, QTP and Rohto Nitten: Profit decrease） Overseas Lower COGS and sales increase contributed to significant profit growth. (Profit increased significantly in EYS, Myanmar and UK） Sales and profit increased in all regions. Double-digit growth led by Asia and Japan. Operating income significantly increased thanks to sales growth and lower COGS. | Full-year Forecast：Sales, O.I., ordinary profit and profit attributable to owners of parent revised upward
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5 | Financial Summary Q1 2024 Q1 2025 Sales Operating Income O.I. Ratio(％) EBITDA EBITDA Margin (%) 68,356 11,790 17.2 14,037 20.5 81,964 11,699 14.3 15,786 19.3 Q1 2026 91,624 13,663 14.9 18,159 19.8 Full-year Forecast 369,500 43,800 11.9 62,552 16.9 0.0% 10.0% 20.0% 30.0% 0 5,000 10,000 15,000 22年度Q1 23年度Q1 24年度Q1 25年度Q1 26年度Q1 0 25,000 50,000 75,000 100,000 22年度Q1 23年度Q1 24年度Q1 25年度Q1 26年度Q1 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Q1 2026 Operating Income (JPY Million) Sales (JPY Million) 15.9% 18.5% 17.2% 14.3% 14.9% 11,292 11,790 11,699 13,663 8,29652,225 61,171 68,356 81,964 Q1 2022 Q1 2023 Q1 2024 Q1 2025 91,624 Q1 2026 (Previous Forecast) Strong sales and operating profit, with a solid operating margin (JPY Million)
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6 | Consolidated Results Despite higher SG&A expenses, O.I. increased significantly, driven by strong sales growth. Sales Impact ・Sales increase in EYS, Rohto(standalone), Vietnam and China ・FX: +JPY 3.8bn Profit Impact Special Factors ・One-time dividend income reversal ・Delayed SG&A spending (Rohto standalone) ・FX:+JPY 700m ・Sales increase:+JPY5.4bn ・COGS ratio: -0.4pt ・COGS: +JPY 300m Q1 2025 Q1 2026 Sales (JPY Million) Gross Profit SG&A expenses Promotional Exp Advertisement R&D Others Operating Income Ordinary Income Profit attributable to owners of parent EBITDA FX(USD/JPY) FX(CNY/JPY) 81,964 45,852 34,153 4,318 7,938 3,386 18,509 11,699 16,127 11,769 15,876 146.16 20.95 Amount % of Net Sales 100.0 55.9 41.7 5.3 9.7 4.1 22.6 14.3 19.7 14.4 19.3 % of Net Sales YoY(%) 91,624 51,593 37,930 4,970 9,050 3,365 20,543 13,663 14,491 10,650 18,159 100.0 56.3 41.4 5.4 9.9 3.7 22.4 14.9 15.8 11.6 19.8 11.8 12.5 11.1 15.1 14.0 ▲0.6 11.0 16.8 ▲10.1 ▲9.5 15.0 158.80 22.66 Main Factors Amount
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11,699 13,663 +5,403 +337 -652 -1,112 +21 -914 -1,120 8,000 10,000 12,000 14,000 16,000 18,000 (JPY Million) Sales Increase COGS Promotional Exp ADs R&D Exp OthersPersonnel Costs ▲ Vietnam ▲ DAX ▲ China ▲ China ▲ Rohto (standalone) ▲ Malaysia + Rohto (standalone) + EYS + Rohto (standalone) + China + Malaysia + Myanmar + DAX + Vietnam 7 | Analysis of Change in Operating Income (YoY) + Rohto (standalone) + UK + Vietnam ▲ Rohto Nitten ▲ QTP Q1 2025 O.I. Q1 2026 O.I. ▲ Rohto (standalone) ▲ China ▲ Rohto (standalone) ▲ EYS ▲ UK
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8 Japan Asia | Sales by Segment Eye Care Skin Care Internal Medicine/Food Medical ： Eye drops for young users and premium eye drops performed well ： “Hadalabo”, “Obagi” and “Care Cera” performed strongly ： Sales of “Rohto V5” increased, and “Episteme” drink declined ： Higher sales in QTP and Rohto Nitten ：Higher sales in China, Vietnam and Myanmar ：Higher sales ales in Myanmar and Indonesia ：EYS performed well Skin Crae Others ： Higher sales in DAX and UK ： Lower sales in Mono Skin Care Medical ：Higher sales in Mentholatum US ：Higher sales in Ophthalmos （JPY Million） YoY （JPY Million） YoY （JPY Million） YoY （JPY Million） YoY （JPY Million） YoY （JPY Million） YoY （JPY Million） YoY Eye Care 5,725 8.6 4,444 45.6 551 0.1 83 82.2 60 - 5,141 40.8 10,866 21.8 Skin Care 23,845 6.0 17,874 14.9 3,669 6.7 5,123 29.0 763 4.3 27,429 15.7 51,275 11.0 Internal Medicine/ Food 6,220 3.4 11,521 18.3 22 245.9 46 86.7 180 59.0 11,771 19.1 17,991 13.2 Medical 6,557 1.5 1,021 0.4 1,043 15.4 548 (0.1) 0 - 2,612 5.8 9,170 2.7 Others 515 1.6 743 96.6 178 24.1 882 (10.2) 0 - 1,804 19.9 2,320 15.3 Total 42,864 5.2 35,604 19.7 5,465 8.3 6,684 19.9 1,004 18.9 48,759 18.3 91,624 11.8 Full-year Forecast (Previous Forecast) 174,300 2.9 141,500 12.9 21,800 1.1 27,700 16.0 4,200 15.7 195,200 11.9 369,500 7.5 % to Target 24.824.6 25.2 25.1 24.1 23.9 25.0 Japan TotalAsia Americas Europe Others Overseas Eye Care Skin Care Internal Medicine/Food America Europe
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9 | Operating Income by Segment Q1 2025 % of Composition Q1 2026 % of Composition YoY (%) Previous Forecast % to T arget Japan 6,310 53.9 6,867 50.3 8.8 22,900 30.0 Asia 4,777 40.8 5,676 41.5 18.8 16,700 34.0 Americas 184 1.6 226 1.7 22.6 1,400 16.1 Europe 134 1.2 664 4.9 392.7 1,400 47.5 Others 74 0.6 37 0.3 (48.7) 500 7.6 Adjustment 217 1.9 190 1.4 (12.3) 900 21.2 Total 11,699 100.0 13,663 100.0 16.8 43,800 31.2 ・Higher profit in Rohto (standalone) driven by price increase of “Hadalabo” ・Higher profit thanks to higher gross profit in Amato ・Lower profit in Rohto Nitten due to higher COGS led following drug price revisions ・Lower profit in QTP due to higher COGS ・Higher profit in Taiwan, Malaysia, Hong Kong, Vietnam and Indonesia ・Higher profit in EYS thanks to sales increase ・Lower profit in China due to higher advertisement expense despite sales increase ・Profit recovery following import license acquisition in Myanmar ・Higher profit in Mentholatum US ・Lower profit due to higher COGS following raw material inflation in Hydrox ・Lower profit in Ophthalmos ・Profit recovery following normalized shipment for topical analgesic in UK ・Significant profit growth driven by strong sales of “Hadalabo Tokyo” ・Significant profit growth despite lower sales, supported by an improved COGS ratio in Mono Japan Asia America Europe (JPY Million)
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10 | Japan | Sales Increase | Profit Increase Eye drops for young users, premium eye drops and “Rohto V5” supplement performed well. “Hadalabo”, “Obagi” , “Care Cera” and lip balm performed well. Robust sales of "Hadalabo" after the price increase, with growth in both value and volume, contributed to sales increase in Rohto (Standalone): Mid single-digit sales growth. Inbound sales reached a record-high. QTP: Mid single-digit sales growth, Rohto Nitten: Low single-digit sales growth Amato: Higher sales of premium products contributed to sales increase (Mid single-digit sales growth) ・ ・ ・ ・ ・ ・ Rohto (Standalone): Despite higher SG＆A expenses, higher gross profit driven by sales growth resulted in a significant profit growth (double-digit growth) Rohto (Standalone): Delayed execution of advertising and R&D expenses expanded profit growth Amato: Double-digit profit increase, QTP: Double-digit profit decrease Rohto Nitten: Significant profit decline due to a higher COGS ratio following drug price revisions "Rohto Z! King Slime" eye drops sold out immediately after launch due to overwhelming demand New cooling shades of Plumper Lip gained strong popularity The price has been increased since the shipment in April 2026 "Gyutto Corset Hair Milk" debuted via e-commerce in June 2026 Sales JPY 42,864m | +5.2% (YoY) (+JPY 2,100m vs LY) Operating Income JPY 6,867m | +8.8% (YoY) (+JPY 550m vs LY) Sales Operating Income ・ ・ ・ ・ “Boraginol” Premium series performed well.
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| Q1 2026 | Domestic Sales by Brand 4.1 % +17.7% (YoY) +15.3% (YoY)+13.4% (YoY)+11.4% (YoY)+10.5% (YoY) -4.5% (YoY) -9.7% (YoY) 3.0 %5.6 %8.4 %15.0% 11.0 % 7.3 % 11 ※YoY: Sales growth （Q1 2026 vs Q1 2025) ※Composition: % of net sales in Rohto(standalone) Core brand performed strongly Hadalabo Rohto V5 Obagi Premium eye drops Lip balm Melano CC Sunscreen Composition No.1 brands for basic skincare sold in drugstores “Shirojyun lotion”, “Shirojyun premium lotion” performed well. Sales remained strong following the price increase “V5 ACT-VISION is popular at Rohto EC store Strong sales of “Obagi C Serum” (launched in Feb. 2026) New promotional campaign successfully attracted new users “V Rohto active premium” and new product, “V Rohto Dry Guard Premium” performed strongly. New color of “Lip Fondue” attracted new users. “Repair One” delivered strong sales. “Melano CC Men” performed well “Melano CC essence” performed well Sales of “Melano CC lotion” and UV milk declined Total sales decreased Lower sales of “Skin Aqua Tone Up UV”
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Sales 23.4% 13.9% 18.6% 11.5% 10.5% 9.7% 4.0%2.9% 8.4% China Hong Kong Vietnam Indonesia Taiwan Malaysia Thailand Myanmar Others | Asia including EYS | Sales Increase Significantly | Profit Increase Significantly 12 Sales JPY 35,604m | +19.7% (YoY) (+JPY 5,860m vs LY) Operating Income JPY 5,676m | +18.8% (YoY) (+JPY 890m vs LY) Vietnam, China, Malaysia, Myanmar, Taiwan and Indonesia performed well. Vietnam: Significant sales growth driven by eye drops, "Hadalabo“ and "Acnes“ China: Significant sales growth driven by eye drops and “Acnes” Malaysia: Significant sales growth thanks to strong performance of “Hadalabo” Myanmar: Sales recovery following import license acquisition ・ ・ ・ ・ ・ Vietnam and Indonesia: Strong performance contributed to profit growth Myanmar: Significant profit increase driven by operational normalization following import license acquisition Taiwan and Malaysia: Significant profit growth driven by higher gross profit from sales growth Across Asia, new brand ambassadors and marketing campaigns targeting younger consumers sustained strong growth of “Hadalabo“ across the region. “Acnes” in Myanmar performed well ・ ・ ・ Launched the eye drops business in Thailand Impact of FX +JPY 2.41bn Impact of FX +JPY 580m Sales composition by country excluding EYS Operating Income
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Sales | EYS | Sales Increase Significantly | Profit Increase Significantly 13 Sales JPY 12,017m | +17.2% (YoY) (+JPY 1,790m vs LY) Operating Income JPY 1,565m | +35.2% (YoY) (+JPY 400m vs LY) Malaysia: Strong Chinese New Year sales drove sales growth (double-digit growth) Hong Kong: Sales remained flat YoY despite continued weak market conditions Singapore: Higher sales due to favorable FX (low single-digit), despite lower sales in local currency EYS total: Significant sales growth driven by strong performance in Malaysia and favorable FX, despite continued weak market conditions in Hong Kong and Singapore A longer Chinese New Year selling season included in Q1 versus the previous year also contributed to sales growth ・ ・ ・ ・ ・ Significant increase in O.I. driven by higher gross profit from sales growth Disciplined control of SG&A expenses contributed to profit growth Profit before goodwill and other amortization reached JPY 1.56bn, demonstrating strong cash generation and profitability EYS goodwill amortization (JPY 420m) and amortization of trademark rights (JPY 240m) ・ ・ ・ ・ Impact of FX +JPY 950m Impact of FX +JPY 120m Chinese New Year gift sets created in collaboration with renowned Malaysian fashion designer Jimmy Choo were well received in Malaysia and Singapore Strengthened Chinese New Year promotional campaigns, expanding brand visibility Chicken essence performed well Operating Income
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| EYS | Post-Acquisition Transformation 14 Leverage EYS assets to create greater value and profit Confirmed new skin and scalp benefits of cordyceps extract Collaboration/ Product development 2 technology releases announced on June 23 1.Reduce COGS 2.Reduce Fixed Costs 3.Increase Sales 4.Expand Markets for Existing Products ・Improve the in-house production ratio ・Streamline group functions to optimize labor costs ・Reduce inventory and optimize warehouse space ・Optimize SKUs and strengthen e-commerce sales initiatives Synergy Creation More than 187 direct stores, primarily in Southeast Asia Strong brand equity Expand a broad product portfolio across overseas markets Category Food TCM supplement TCM(Medicine) Launch of a hair-care supplement under “50 Megumi” in Hong Kong Improve sleep condition Supports Memory and Cognitive function Strengthen earnings power and secure strong operating cash flow of 3.7 billion yen Products launched in Japan Bird’s nest, Chicken essence Reishi mushroom Value Creation
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Sales O.I. Impact of FX +JPY 480m Impact of FX +JPY 20m | Americas | Sales Increase | Profit Increase Significantly 15 Sales JPY 5,465m | +8.3% (YoY) (+JPY 420m vs LY) Operating Income JPY 226m | +22.6% (YoY) (+JPY 40m vs LY) Mentholatum US: Strong sales growth (double-digit growth) Hydrox : Lower sales due to reduced orders (low single-digit decline) Ophthalmos (Brazil) : Strong sales growth, driven by ophthalmic products (double -digit growth) Mentholatum Brazil: Double-digit sales growth, supported by strong sales of “Hadalabo” ・ ・ ・ ・ Mentholatum US: Profit growth thanks to higher sale Hydrox: Lower profit due to higher raw material costs Ophthalmos: Lower profit due to higher COGS from a temporary production slowdown at a new production line. Hydrox disinfectants for hospital channel ・ ・ ・ “Hadalabo” sustained strong growth through its Brazil online store
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Sales O.I. Impact of FX +JPY 810m Impact of FX +JPY 90m 16 Sales JPY 6,684m | +19.9% (YoY) (+JPY 1,110m vs LY) Operating Income JPY 664m | +392.7% (YoY) (+JPY 520m vs LY) UK: Double-digit sales growth driven by the normalization of anti -inflammatory analgesic shipments DAX: Strong sales growth driven by “Hadalabo Tokyo” and “YOSKINE”(double-digit growth) Mono: Low single-digit sales decline due to weaker contract manufacturing demand South Africa: : Anti-inflammatory analgesics and “Selsun” performed well ・ ・ ・ ・ UK: Significant profit growth driven by the normalization of anti -inflammatory analgesic shipments, improving the gross margin DAX: Significant profit growth driven by improved production efficiency and a richer premium product mix Mono: Significant profit growth as improved gross margin more than offset lower contract manufacturing sales Deep series delivered strong sales growth following shipment normalization ・ ・ ・ “Hadalabo Tokyo” continued to perform well Launched the new anti-aging line, “YOSKINE LONGEVITY” In DAX | Europe | Sales Increase Significantly | Profit Increase Significantly
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17 | Outlook for Full-year of FY3/2027 | April 2026- March 2027
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Overseas Japan 18 | Sales：JPY 372,300m +8.3％(YoY), Impact of FX: +JPY11.4bn | Upward revision Domestic demand expected to remain resilient despite uncertainty in inbound tourism “Hadalabo”, “Rohto V5” and eye drops expected to perform strongly Rohto (standalone) and Amato expected to contribute to sales growth | O.I.：JPY 45,000m +9.4％(YoY), Impact of FX: +JPY1.3bn | Upward revision Annual dividends are planned to increase by 4 yen, achieving 23 consecutive years of dividend growth. Payout ratio(estimate): 32.1% | FY3/2027 Key Highlights for Outlook of FY3/2027 Sales, O.I., net profit are expected to reach record high figures Cost inflation and geopolitical uncertainties expected to keep the business environment uncertain The current outlook incorporates all identifiable impacts from the Middle East situation Full-year forecast revised upward, reflecting stronger-than-expected performance in Asia and Japan, as well as the FX environmen t ※Profit attributable to owners of parent ・ ・ ・ Strong double-digit sales growth expected in Asia, particularly Southeast Asia, and Europe Sales growth expected in Southeast Asia (Vietnam, Malaysia, and Indonesia), as well as China and EYS Sales growth expected in Hydrox and Brazilian subsidiaries Sales growth in Europe to be driven by the UK and DAX Japan Rohto(standalone) expected to achieve profit growth, supported by continued growth in core business Overseas Significant profit growth expected, driven by strong performance in Southeast Asia and earnings contributions from EYS, UK, and China despite lower profit in US
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19 Full-year forecast revised upward from the May 13 forecast, reflecting recent business performance and FX trends. Previous ForecastFull-year Forecast for FY3/2027 Sales (JPY million) Operating Income Ordinary Income Profit attributable to owners of parent EBITDA Net income per share FX(USD/JPY円) 369,500 43,800 46,100 34,500 62,552 152.68 155.00 May 13 Forecast (A) YoY(%) 7.5 6.5 ▲3.9 0.7 6.9 % of Net Sales YoY(%) 372,300 45,000 47,400 35,200 100.0 12.1 12.7 9.5 17.1 8.3 9.4 ▲1.2 2.8 8.9 Change (B-A) 2,800 1,200 1,300 700 1,148 FY3/2026 343,725 41,118 47,971 34,247 58,496 151.56 149.99 Actual FX(CNY/JPY) 22.00 20.82 158.00 23.00 155.78 63,700 ・Sales：+JPY 2.8bn, O.I.: +JPY 1.2bn, Ordinary income: +JPY 1.3bn yen, Net Profit: +JPY 700m ・Impact of FX(vs May 13 forecast)：Sales +JPY 3.0bn, O.I.+JPY 300m ・Impact of FX(vs LY)：Sales+JPY 11.4bn, O.I. +JPY 1.3bn | Full-year Forecast(upward revision) Revised Forecast (B)
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20 | Sales Forecast by Segment(upward revision) Previous ForecastFull-year Forecast for FY3/2027 FY3/2026 Sales FX(USD/JPY) 369,500 174,300 141,500 21,800 27,700 4,200 155.00 7.5 2.9 12.9 1.1 16.0 372,300 174,400 142,900 22,600 100.0 46.8 38.4 6.1 7.6 8.3 3.0 14.0 4.9 18.0 2,800 100 1,400 800 500 343,725 169,326 125,327 21,553 23,889 3,628 149.99 FX(CNY/JPY) 22.00 20.82 158.00 23.00 28,200 4,200 Japan Asia Europe Americas Others 1.1 15.7 04,200 15.7 Core business continues to grow: Rohto (standalone) and Asia expected to drive sales growth ・Impact of FX(vs May 13 forecast)：Asia +JPY 1.7bn, Americas+JPY 600n, Europe+JPY 700m ・Impact of FX(vs LY)：Asia +JPY 7.9bn, Americas +JPY 1.3bn, Europe +JPY 1.6bn, Others +JPY 400m ・Sales growth forecasts for EYS and MONO revised downward (JPY million) May 13 Forecast (A) YoY(%)% of Net Sales YoY(%) Change (B-A) ActualRevised Forecast (B)
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21 | Forecast for Operating Income by Segment (upward revision) Previous ForecastFull-year Forecast for FY3/2027 FY3/2026 Operating Income 43,800 22,900 16,700 1,400 1,400 500 6.5 3.5 11.0 ▲17.9 39.0 45,000 23,400 17,300 1,200 100.0 52.0 38.4 2.7 3.8 9.4 5.8 15.0 ▲29.6 68.8 1,200 500 600 ▲200 300 41,148 22,126 15,048 1,705 1,007 383 846 FX(USD/JPY) 155.00 149.99158.00 1,700 Others 1.1 30.3 0500 30.3 FX(CNY/JPY) 22.00 20.8223.00 Adjustment 2.0 6.3 0900 900 6.3 Forecast for Rohto (standalone) revised upward, reflecting higher gross profit from “Hadalabo” price increase ・Impact of FX(vs May 13 forecast)：Asia +JPY 200m, Americas +JPY 0m, Europe +JPY 0m ・Impact of FX(vs LY)：Asia +JPY 1.2bn, Americas +JPY 0m, Europe +JPY 0m , Others +JPY 0m ・Asia：Significant profit growth expected, driven by strong performance in Southeast Asia, particularly Indonesia and Vietnam Japan Asia Europe Americas (JPY million) May 13 Forecast (A) YoY(%)% of Net Sales YoY(%) Change (B-A) ActualRevised Forecast (B)
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41,118 45,000 +16,018 +185 -1,440 -2,458 -1,873 -6,553 30,000 35,000 40,000 45,000 50,000 55,000 60,000 (JPY Million) Sales Increase COGS Promotional Exp ADs R&D Exp Others - Vietnam - Myanmar - China - Indonesia - EYS - Myanmar - Vietnam - Rohto (standalone) - Interstem - Amato - Personnel expenses in EYS - Other costs in EYS - Other costs in UK - Other costs in China+ EYS + Vietnam + Rohto (standalone) + China + Indonesia ＋ UK ＋ Malaysia 22 | Forecast for Change in Operating Income(YoY) + Vietnam + UK - Hydrox O.I. FY3/2026 （Actual） O.I. FY3/2027 （Expected）
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23 Shareholder return policy: Ensure stable and continuous dividend increases, unaffected by profit fluctuations. 30% Interim dividend: JPY 25, Year-end dividend: JPY 25, Annual dividends: JPY 50, Payout ratio: 32.1％ (estimate) Payout Ratio | Shareholder Returns(Not Revised) | (Plan to achieve 23 consecutive years of dividend growth) Over 13 14 18 22 27 36 46 50 19.2％ 19.1％ 19.4％ 19.0％ 19.9％ 26.4％ 30.4％ 32.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 10 20 30 40 50 60 Annual Dividends Payout Ratio 3.5% DOE Over FY3/2027 (Estimate) FY3/2020 FY3/2026FY3/2021 FY3/2022 FY3/2023 FY3/2024 FY3/2025
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| Serbian cosmetics distributor | Acquisition of Magic Cod 24 Import, distribution, and marketing of cosmetics and daily goods Republic of Serbia Name Magic Cod d.o.o. Location Expand sales of “Hadalabo Tokyo” and “YOSKINE” in Europe Expand sales of Rohto eye drops in Eastern Europe July 8, 2026 Serbia, Croatia, and other Balkan countries, as well as Italy, Spain, and Nordic markets Since 2017, Magic Cod has supported the sales and marketing of our cosmetics brands, “Hadalabo Tokyo” and “YOSKINE”. Business | Closing date | Sales markets | Business Relationship| Future initiatives | Strengthen sales capabilities in Europe by leveraging Magic Cod’s network
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| Topical Analgesic Brand in Australia | Acquisition of “Pain Away” 25 Topical analgesic brand established in Australia in 1999 Broad product portfolio featuring arnica-based formulations, widely trusted by consumers Wellnex Life Limited Acquired Brand Pain Away Seller Leverage the strengths of both the “Deep Heat” and “Pain Away” brands to drive synergies across product development, sales, marketing, manufacturing, and logistics, further strengthening the self-care business. August 6, 2026 Acquired the business and intellectual property rights for “Pain Away” brand Brand | Contract date | Contract | Strengthen the self-medication business in Oceania Future initiatives |
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| Longevity Toward a Healthy Longevity Society | Acquisition of OP Bio 26 Accelerating the application of “Phyto-Exosomes” across core brands Uruma city, Okinawa Name OP Bio Factory Co., ltd. Location Exploration, cultivation, and analysis of marine bioresources; development of functional ingredients Accelerate functional research and product development of “Pavlova”, while advancing “Phyto-Exosome” research based on extracellular vesiclesderived from marine microalgae Joint R&D on marine bioresources, including the microalgae “Pavlova” Business | ※ “Pavlova”: A microalga native to Okinawa’s mangrove ecosystem. “Phyto-Exosome” Technology Support skin basic function Business Relationship| Future initiatives | Plan to apply to core brands
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27 | Upcoming IR Events Management Strategy Briefing Date ： 10:00-11:00, October 2, 2026 Venue ： Format ： Agenda ： Audience ： Rohto Tokyo office Hybrid event(online and in person) Update of Mid- to long-term business strategy, business plans, governance and closing remarks Institutional Investors & analysts Speakers and agenda are subject to change IR contact for future inquiries：ir@rohto.co.jp Speakers Chairman and Representative Director Kunio Yamada President and Representative Director Hidetoshi Segi Vice President and CFO Masaya Saito Managing Director Chief Medical Officer(CMO) Yoko Fujimoto Outside director Shoichiro Iwata
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29 | APPENDIX
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30 | Sales Growth in Asia(Local Currency Basis) Vietnam and Indonesia maintained strong sales growth FY3/2026 (YoY) Rohto (standalone) China Hong Kong Taiwan Vietnam Indonesia 1Q 2Q 3Q 4Q FY3/2026 FY3/2027 (YoY) 1Q + low single-digit + low single-digit + low single-digit +low 10% + mid Single-digit + high Single-digit + mid Single-digit +low 20% +mid 10% Malaysia - - - - - +mid 10% ※ FY3/2025 Malaysia sales included Singapore; therefore, FY3/2026 growth rate is not disclosed. ※Excluding EYS sales + low single-digit + low single-digit + low single-digit + low single-digit + low single-digit + mid single-digit + low single-digit + mid single-digit + mid single-digit + mid single-digit + mid single-digit - low single-digit - low single-digit + mid single-digit - mid single-digit + mid single-digit + high single-digit +low 10%+low 10% +low 10% +mid 10%+mid 10% +high 10% +low 20%+mid 20%+mid 30% - high Single-digit
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31 | Asian Sales by Brand in Q1 2026 9.1%5.3%7.9%12.6%12.7% 3.4% 2.1% Eye Drops Hadalabo Acnes SunscreenLip balm Selsun Men’s cosmetics 3.8% 50 Megumi +48.1% (YoY) ▲0.5% (YoY) ▲24.5% (YoY) +34.3% (YoY) +42.0% (YoY) -1.8% (YoY) +8.6% (YoY) +12.0% (YoY) Core brand such as Eye drops, “Hadalabo” and “Acnes” performed well ※YoY: Sales growth （Q1 2026 vs Q1 2025) ※Composition: % of net sales in Asia Composition China, Vietnam: Performed well Myanmar: Sales recovery following import license acquisition Indonesia, Malaysia and Vietnam performed well China, Taiwan, Vietnam: Significant sales growth Myanmar: Sales recovery following import license acquisition China and Taiwan: Higher sales Vietnam: performed well Hong Kong, Taiwan: Higher sales China: Sales remained strong Malaysia: Performed well Indonesia: Lower sales due to high competition OXY: Lower sales in Singapore and Vietnam Mentholatum Men’s: Lower sales in China Hong Kong, Taiwan: Lower sales
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32 | Sales by Segment | Forecast for FY3/2027 Domestic Overseas Total （Mil. Yen） YoY(%) （Mil. Yen） YoY(%) （Mil. Yen） YoY(%) （Mil Yen） （Mil Yen） （Mil Yen） Eye Care 25,400 ▲0.5 20,800 5.0 46,200 1.9 25,537 19,844 45,381 Skin Care 94,800 3.6 121,100 14.8 215,900 9.6 91,506 105,417 196,923 Internal Medicine/Food 24,000 5.2 36,800 16.8 60,800 11.9 22,801 31,541 54,342 Medical 28,100 2.7 11,600 8.6 39,700 4.3 27,353 10,724 38,078 Others 2,100 ▲0.8 7,600 10.0 9,700 7.4 2,127 6,870 8,998 Total 174,400 3.0 197,900 13.5 372,300 8.3 169,326 174,399 343,725 OverseasDomestic Total Forecast for FY3/2027 FY3/2026 (Actual) Japan Overseas Eye Care Skin Care Internal Medicine/Food Medical ： Decline due to the rebound from strong seasonal allergy eye drop last year ： “Hadalabo” and “Obagi” expected to drive growth ： “Rohto V5” expected to increase, “Episteme” drink expected to decline ： QTP expect higher sales Eye Care Skin Care Internal Medicine/Food Medical ： Asia expected to drive growth ： Southeast Asia expected to drive growth ： EYS expected to increase ： Ophthalmos expect higher sales
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33 | Trend of ADs, R&D, Capital Investment and Depreciation & Amortization R&D Expense expected at 4.3% of consolidated sales FY3/2025Q1 2026 FY3/2027(expected) Advertisement 43,400 11.7% 15,900 4.3% 39,224 12,7% 14,995 4.9% YoY Change 1,112 - ▲12 - 40,942 11.9% 13,861 4.0% % of Sales R&D Expenses % of Sales FY3/2026 9,050 9.9% 3,390 3.7% Q1 2024 7,004 10.2% 3,644 5.3% 7,938 9.7% 3,402 4.2% Q1 2025 Advertisement / R&D Expense FY3/2025Q1 2026 Capital Investment (JPY Million) 21,800 16,600 2,100 15,070 12,096 1,205 YoY Change 2,214 370 38 16,665 15,329 2,048 Depreciation Amortization FY3/2026 4,855 3,950 545 Q1 2024 2,734 2,155 91 2,641 3,579 506 Q1 2025 Capital Investment, Depreciation & Amortization FY3/2027(expected) ※Capital investment includes investments in PP&E, intangible assets, and right -of-use assets, excluding business combinations, business transfers, and brand/trademark acquisitions. ※Depreciation excludes amortization of goodwill.
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34 | Investment for Future | Pipeline Progress(Unchanged) Code Indications Stage ROH-101 ROH-201 ROH-202 ROH-001 ・ Cytomegalovirus(CMV) corneal endotheliitis ・ Herpes simplex virus (HSV) keratitis ・Application submitted on April 30, 2026 ・P3 ・Vernal keratoconjunctivitis (VKC) ・Dry eye ・P2 ・P2 ・Opthalmic treatment agent ・P1 ・Suppression of myopia progression ・P2 Medical Eye Drops Regenerative Medicine Products ADR-002K ・Severe cardiac failure ・P2 CCI TLC-01 ・Traumatic cartilage defects ・Preparing for application ・Degenerative cartilage defects ・P2 UDI-001 ・Neurodegenerative diseases ・Exploring out-licensing ・Kidney diseases ・Cirrhosis of the liver ・Severe leg ischemia ・Lung fibrosis Human adipose-derived stem cells Human umbilical cord-derived stem cells Autologous chondrocytes | Allogeneic chondrocytes | ADR-001 ・P1/2 ・Exploring out-licensing ・Exploring out-licensing ・Exploring out-licensing
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35 | Capital Policy and Cash Allocation | 6-year from FY3/2026 to FY3/2031 Capital policy is progressing in line with the original plan. Growth investments Shareholder returns Capital Investment R&D DX/IT Investment M&A 100 (34%)* 90 30 (33%) (15%) (40%)50 (26%) 80 Shareholder returns (dividends, etc.) Operating Cash Flow JPY 33bn (before R&D expenses) Fundraising JPY 20bn Inflows Outflow | Uses Amount (JPY Billion) Policy ・Expand overseas production facilities to meet growing demand ・Science Hub Tokyo connecting research and customers ・R&D Investment to further acceleratecore business ・For approvals of ROH 101 ・Establishment of global ERP core system ・Acquisition of trademark of “Obagi” and Oryza ・Dividend Payout Ratio of Over 30%, and a DOE of Over 3.5% ・Increase dividend with medium- to long-term profit growth ・Plan to conduct a share buyback of up to 3 billion yen in 2026 ※Figures represent progress rate based on actual FY3/2026 spending and FY3/2027 forecast.
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36 This document was prepared for the purpose of providing an understanding of the current status of the Company as a reference for investment decisions. The contents contained herein are prepared based on economic, social and other conditions generally recognized as prevailing at the time of preparation and on certain assumptions judged to be reasonable by the Company, but may be subject to change without notice due to changes in the business environment or other reasons. This document contains information on pharmaceutical products and other products including products under development. Such information is not intended as promotion, advertising or medical advice. Any investment decisions should be made at the investor's own discretion. The Company assumes no responsibility whatsoever for any problems, losses, or damages resulting from the use of this material. Rohto Pharmaceutical Co., Ltd.
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