Interim report
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- 1 - Consolidated Financial Results for the Three Months Ended August 31, 2026 (Japanese GAAP) October 15, 2026 Company name: GO Inc. Listing: Tokyo Stock Exchange Securities code: 581A URL: https://goinc.jp/en/ir/ Representative: Hiroshi Nakajima, President and Representative Director Contact: Ryosuke Mori, Executive Officer, CFO and Head of Corporate Strategy Division Telephone: +81-50-2031-3491 Scheduled date to commence dividend payments: － Preparation of supplementary materials on financial results: Yes Holding of financial results briefing: Yes (for institutional investors and securities analysts) (Yen amounts are rounded down to millions) 1. Consolidated financial results for the three months ended August 31, 2026 (from June 1, 2026 to August 31, 2026) (1) Consolidated operating results (Percentages indicate year-on-year changes) Net sales Adjusted EBITDA EBITDA Operating profit Ordinary profit Profit attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % 1Q FY5/27 12,243 － 3,365 － 3,168 － 3,042 － 3,023 － 2,476 － 1Q FY5/26 － － － － － － － － － － － － Note 1: Comprehensive income 1Q FY5/27 ¥2,686 million (－%) 1Q FY5/26 － million (－%) Basic earnings per share Diluted earnings per share Yen Yen 1Q FY5/27 30.98 28.53 1Q FY5/26 － － Notes: 1. EBITDA = operating profit + depreciation + amortization of goodwill 2. Adjusted EBITDA = EBITDA + share-based payment expenses + autonomous driving research and development expenses 3. The Company did not prepare quarterly consolidated financial statements for 1Q FY5/26; therefore, figures for 1Q FY5/26, year-on-year changes for 1Q FY5/26 and year-on-year changes for 1Q FY5/27 are not presented. 4. Since the Company was listed on the Growth Market of the Tokyo Stock Exchange on June 16, 2026, diluted earnings per share for 1Q FY5/27 has been calculated using the average stock price from the listing date through the end of 1Q FY5/27 as the average stock price during the period. (2) Consolidated financial position Total assets Net assets Equity ratio Millions of yen Millions of yen % As of August 31, 2026 87,368 37,740 39.8 As of May 31, 2026 76,471 27,846 32.6 (Reference) Equity: As of August 31, 2026: ¥34,766 million As of May 31, 2026: ¥24,929 million
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- 2 - 2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended May 31, 2026 － 0.00 － 0.00 0.00 Fiscal year ending May 31, 2027 － Fiscal year ending May 31, 2027 (forecast) 0.00 － 0.00 0.00 Note: Change in dividend forecast from the most recent announcement: None 3. Consolidated financial results forecast for the fiscal year ending May 31, 2027 (from June 1, 2026 to May 31, 2027) (Percentages indicate year-on-year changes) Net sales Adjusted EBITDA EBITDA Operating profit Ordinary profit Profit attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Full year 48,500 17.0 14,400 68.1 13,500 80.3 13,000 84.6 13,100 102.9 11,200 26.7 Note: Change in earnings forecast from the most recent announcement: None
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- 3 - * Notes (1) Significant changes in the scope of consolidation during the period: None Newly consolidated: None Excluded: None (2) Application of special accounting methods for preparing quarterly consolidated financial statements: Yes Note: Please refer to "2. Quarterly consolidated financial statements and principal notes, (3) Notes to quarterly consolidated financial statements (Notes on special accounting methods for preparing quarterly consolidated financial statements)" on page 10 for further details. (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 reasons: 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 August 31, 2026 81,961,700 As of May 31, 2026 77,679,600 (ii) Number of treasury shares at the end of the period As of August 31, 2026 23 As of May 31, 2026 － (iii) Average number of shares outstanding during the period Three months ended August 31, 2026 79,964,229 Three months ended August 31, 2025 － Note: The Company has not prepared quarterly consolidated financial statements for 1Q FY5/26, and therefore the average number of shares during 1Q FY5/26 is not presented. * Review of the attached quarterly consolidated financial statements by a certified public accountant or audit firm: None * Explanation regarding the appropriate use of financial results forecasts, and other special notes Forward-looking statements in this document, including financial results forecasts, are based on information currently available to the Company and on certain assumptions that the Company considers reasonable. They are not a commitment by the Company that they will be achieved, and actual results may differ significantly due to various factors.
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- 4 - Table of contents for attachments 1. Overview of results of operations, etc. ................................................................................................... 5 (1) Overview of operating results for the quarter ................................................................................ 5 (2) Overview of financial position for the quarter ................................................................................ 5 (3) Explanation of consolidated financial results forecast and other forward-looking statements ....... 6 2. Quarterly consolidated financial statements and principal notes ........................................................... 7 (1) Quarterly consolidated balance sheet ........................................................................................... 7 (2) Quarterly consolidated statements of income and comprehensive income................................... 8 (3) Notes to quarterly consolidated financial statements .................................................................... 10 (Notes on special accounting methods for preparing quarterly consolidated financial statements) ................................................................................................................................. 10 (Segment information, etc.) ......................................................................................................... 10 (Notes in case of significant changes in shareholders' equity) .................................................... 10 (Notes on going concern assumption) ......................................................................................... 10 (Notes on quarterly consolidated statement of cash flows) ......................................................... 11 (Significant subsequent events) .................................................................................................. 11
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- 5 - 1. Overview of results of operations, etc. (1) Overview of operating results for the quarter The Group operates a wide range of businesses that combine mobility and technology centered on taxis, guided by its mission of "Mobility for Empowerment" and vision of "Driving Japan Forward," and aims to become Japan's mobility platform and mobility infrastructure. The Group's business is divided into the "GO segment," which is a reportable segment, and "Other," which consists of business not included in the reportable segment. Services in the GO segment include e-hailing, comprising the taxi app "GO" as the main service, "GO PREMIUM," which provides a premium transportation experience with luxury vehicles, and "GO BUSINESS," a corporate management service dedicated to business use of taxis, in addition to taxi-related services ancillary to the taxi app, such as payment, advertising, in-vehicle devices and taxi tickets. In addition, under "Other," as incubation business, the Group is engaged in various initiatives related to mobility, including GX-related services that provide vehicles, charging services and energy management for the deployment of EV taxis, the rollout of "GO Charge," a search, reservation and payment service for public rapid charging spots, the development and operation of "GO Economy," a shared taxi service, proof-of-concept experiments for the implementation of autonomous taxis and new business development for providing solutions for the logistics industry. In the GO segment for the three months ended August 31, 2026, Total Rides (Note 1) on the taxi app rose 9.8% year on year to 32.16 million, and average revenue per ride (ARPR) (Note 2) rose 29.1% year on year to ¥191. Average MAU (Note 3) for the period rose 8.8% year on year to 3.42 million, and the Group steadily strengthened its business foundation. As a result, the Group reported the following results for the three months ended August 31, 2026: net sales of ¥12,243 million, adjusted EBITDA (Note 4) of ¥3,365 million, EBITDA (Note 5) of ¥3,168 million, operating profit of ¥3,042 million, ordinary profit of ¥3,023 million and profit attributable to owners of parent of ¥2,476 million. Furthermore, on September 15, 2026, the Company entered into a collaboration agreement based on a strategic partnership with Waymo LLC, an independent Alphabet company, for the commercialization of autonomous taxis in Tokyo, and is steadily advancing initiatives toward deploying autonomous taxis in Tokyo in 2027. Notes: 1. Total Rides is the number of times users rode in taxis they ordered through the taxi app "GO." 2. ARPR is calculated as revenue from e-hailing services ÷ Total Rides, rounded to the nearest yen. 3. MAU (monthly active users) is the number of users who launched the GO app at least once in a month, whether or not they used the dispatch service. Average MAU for the period = sum of monthly MAU for the period ÷ number of months in the period. 4. Adjusted EBITDA = operating profit + depreciation + amortization of goodwill + share-based payment expenses + autonomous driving research and development expenses 5. EBITDA = operating profit + depreciation + amortization of goodwill (2) Overview of financial position for the quarter (Assets) Total assets at the end of the current first quarter were ¥87,368 million, up ¥10,897 million from the end of the previous fiscal year. This was mainly due to an increase of ¥9,010 million in cash and deposits and an increase of ¥1,429 million in accounts receivable - other. (Liabilities) Total liabilities at the end of the current first quarter were ¥49,628 million, up ¥1,003 million from the end of the previous fiscal year. This was mainly due to an increase of ¥1,772 million in accounts payable - other, while provision for bonuses decreased by ¥408 million and income taxes payable decreased by ¥216 million. (Net assets) Net assets at the end of the current first quarter were ¥37,740 million, up ¥9,893 million from the end of the previous fiscal year. This was mainly due to increases of ¥3,679 million in share capital, ¥3,679 million in capital surplus and ¥2,476 million in retained earnings.
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- 6 - (3) Explanation of consolidated financial results forecast and other forward-looking statements The consolidated financial results forecast for the fiscal year ending May 31, 2027, announced on July 14, 2026, remains unchanged.
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- 7 - 2. Quarterly consolidated financial statements and principal notes (1) Quarterly consolidated balance sheet (Millions of yen) FY5/26 (As of May 31, 2026) 1Q FY5/27 (As of August 31, 2026) Assets Current assets Cash and deposits 34,584 43,594 Accounts receivable - trade 4,164 4,602 Lease investment assets 2,596 2,289 Merchandise 6 5 Work in process 16 35 Supplies 37 20 Accounts receivable - other 26,456 27,886 Other 804 992 Allowance for doubtful accounts (41) (29) Total current assets 68,625 79,397 Non-current assets Property, plant and equipment 275 282 Intangible assets Goodwill 63 59 Other 1,728 1,793 Total intangible assets 1,792 1,853 Investments and other assets 5,778 5,835 Total non-current assets 7,846 7,971 Total assets 76,471 87,368 Liabilities Current liabilities Accounts payable - trade 2,741 2,710 Short-term borrowings 641 651 Lease liabilities 1,497 1,329 Accounts payable - other 39,561 41,334 Income taxes payable 655 438 Provision for coupons 27 33 Provision for points 147 136 Provision for bonuses 484 75 Provision for repairs 10 27 Other 1,562 1,769 Total current liabilities 47,329 48,506 Non-current liabilities Lease liabilities 1,204 1,028 Other 90 93 Total non-current liabilities 1,294 1,121 Total liabilities 48,624 49,628 Net assets Shareholders' equity Share capital 100 3,779 Capital surplus 21,483 25,162 Retained earnings 3,346 5,823 Treasury shares － (0) Total shareholders' equity 24,929 34,766 Share acquisition rights 588 656 Non-controlling interests 2,328 2,317 Total net assets 27,846 37,740 Total liabilities and net assets 76,471 87,368
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- 8 - (2) Quarterly consolidated statements of income and comprehensive income (Quarterly consolidated statement of income) (Millions of yen) 1Q FY5/27 (From June 1, 2026 to August 31, 2026) Net sales 12,243 Cost of sales 5,356 Gross profit 6,887 Selling, general and administrative expenses 3,845 Operating profit 3,042 Non-operating income Interest income 13 Share of profit of entities accounted for using equity method 43 Other 13 Total non-operating income 70 Non-operating expenses Share issuance costs 37 Listing-related expenses 35 Other 16 Total non-operating expenses 89 Ordinary profit 3,023 Profit before income taxes 3,023 Income taxes 336 Profit 2,686 Profit attributable to non-controlling interests 209 Profit attributable to owners of parent 2,476
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- 9 - (Quarterly consolidated statement of comprehensive income) (Millions of yen) 1Q FY5/27 (From June 1, 2026 to August 31, 2026) Profit 2,686 Comprehensive income 2,686 (Comprehensive income attributable to) Owners of parent 2,476 Non-controlling interests 209
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- 10 - (3) Notes to quarterly consolidated financial statements (Notes on special accounting methods for preparing quarterly consolidated financial statements) (Calculation of tax expenses) The tax expense was calculated by first reasonably estimating the effective tax rate after the application of tax effect accounting with respect to profit before income taxes during the fiscal year, including the current first quarter, and multiplying that rate by the quarterly profit before income taxes. (Segment information, etc.) 1Q FY5/27 (from June 1, 2026 to August 31, 2026) 1. Information on sales and profit (loss) by reportable segment (Millions of yen) Reportable segment Other (Note 1) Total Adjustments (Note 2) Amount recorded in the quarterly consolidated financial statements GO segment Net sales Sales to external customers 11,413 829 12,243 － 12,243 Intersegment sales or transfers 0 － 0 (0) － Total 11,413 829 12,243 (0) 12,243 Segment profit (loss) 4,954 (278) 4,676 (1,634) 3,042 Depreciation 112 2 115 7 122 Amortization of goodwill － 3 3 － 3 EBITDA (Note 3) 5,067 (272) 4,795 － － Notes: 1. "Other" comprises business segments not included in the reportable segment. These mainly include the GX business, which provides EVs and charging services and operates GO Charge, a service for searching, reserving and paying for public rapid charging spots; the autonomous driving business; the GO Economy business; and the logistics business. 2. Details of the adjustments are as follows. (1) The adjustment to segment profit (loss) represents corporate expenses not allocated to the reportable segment, mainly general and administrative expenses not attributable to the reportable segment. (2) The adjustment to depreciation represents depreciation of corporate assets not allocated to the reportable segment. 3. EBITDA is segment profit (loss) plus depreciation and amortization of goodwill. (Notes in case of significant changes in shareholders' equity) The Company's shares were listed on the Growth Market of the Tokyo Stock Exchange on June 16, 2026. In connection with this listing, the Company conducted a third-party allotment of new shares to Nomura Securities Co., Ltd. in connection with the secondary offering by way of over-allotment conducted by Nomura Securities. Payment was completed on July 15, 2026. As a result, including increases from the exercise of share acquisition rights in addition to the above, share capital rose ¥3,679 million and capital surplus rose ¥3,679 million during the three months ended August 31, 2026, resulting in share capital of ¥3,779 million and capital surplus of ¥25,162 million at the end of the current first quarter. (Notes on going concern assumption) Not applicable.
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- 11 - (Notes on quarterly consolidated statement of cash flows) A quarterly consolidated statement of cash flows for the three months ended August 31, 2026 has not been prepared. Depreciation for the three months (including amortization of intangible assets excluding goodwill) and the goodwill amortization amount are as follows. 1Q FY5/27 (from June 1, 2026 to August 31, 2026) Depreciation ¥122 million Amortization of goodwill ¥3 million (Significant subsequent events) (Conclusion of material agreement) The Company resolved at a meeting of its Board of Directors held on September 15, 2026 to enter into a collaboration agreement based on a strategic partnership for the commercialization of a fully autonomous unmanned taxi service in Tokyo with Waymo LLC ("Waymo"), an independent Alphabet company, and executed the agreement on the same date. The impact of this matter on consolidated earnings for the current fiscal year is minor. 1. Purpose of the Collaboration Agreement Under a strategic partnership with Nihon Kotsu Co., Ltd. ("Nihon Kotsu"), the Company and Waymo have conducted on-road validation in seven wards of Tokyo since 2025 to adapt Waymo's autonomous driving technology to Tokyo's complex road environment. Currently, autonomous driving validations with Nihon Kotsu crew members on board are progressing smoothly. Based on this track record, the Company and Waymo have agreed to move to a new phase toward providing unmanned taxi services to the general public. Pursuant to this collaboration agreement, the companies aim to introduce fully autonomous taxis in Tokyo in 2027 and deliver a safe and seamless mobility experience easily requested via ride-hail apps. 2. Details of the Collaboration Agreement Under this collaboration agreement, targeting 2027, the companies will advance preparations to launch Japan's first commercial unmanned taxi service in Tokyo using Level 4 autonomous technology (fully autonomous driving under specific conditions). The key roles of each company are as follows: The Company • Acts as the central hub for local taxi operators, orchestrating the seamless integration of Waymo's autonomous driving technology into the Japanese taxi business environment, while also offering rides via the "GO" app. Waymo • Built on industry-leading safety and technology, Waymo delivers a premier autonomous driving experience—providing operational frameworks, fleet management systems, and technical insights to support partners in scaling their operations. 3. Overview of the Counterparty (1) Name Waymo LLC (2) Location 1600 Amphitheatre Parkway, Mountain View, CA 94043, U.S.A. (3) Description of Business Development of autonomous driving technology and provision of mobility services