Slides
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FY2025 Third Quarter Consolidated financial results highlights January 30, 2026 Presentation Materials www.sanwa-hldgs.co.jp
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Business Results Highlights (Net Sales)01 3Q YTD FY2024 3Q YTD FY2025 Full Year FY2025 Results Results YoY (%) Forecast YoY (%) Japan JPY bn 199.0 198.8 -0.1% 289.1 +0.5% North America (ODC) USD mn JPY bn 1,192 180.7 1,199 177.2 +0.6% -1.9% 1,668 233.5 +3.4% -4.9% Europe (NF) EUR mn JPY bn 517 85.1 505 83.6 -2.3% -1.7% 731 117.0 +5.1% +2.3% Asia JPY bn 10.7 8.9 -16.7% 15.6 +1.9% Net sales JPY bn 475.1 468.2 [472.5] -1.5% [-0.6%] 654.0 [677.6] -1.3% [+2.3%] 中計2024振り返り 中計2027 2025年度通期予想 Analysis of changes in net sales (consolidated) 〉 Net sales decreased mainly due to lower sales volume in each region and the impact of foreign exchange Forex rate 2024 3Q 2025 3Q 2025 Full year １USD 151.59 147.78 140.00 １EUR 164.61 165.57 160.00 YoY change -6.9 billion yen 475.1 -6.6 468.2 ● Sales broadly remained unchanged YoY due to steady price pass-through despite lower sales volume ● Higher sales on a local currency basis driven by operator and automatic doors, despite lower sales volume of door products resulting from delayed market recovery mainly due to persistently high interest rates ● Lower sales due to lower sales volume resulting from delayed market recovery JPY bn ● Lower sales due to delayed recovery of eastern China business -4.3+4.0 Comments on 3Q FY2025 YTD results * Due to intercompany elimination, values do not add up to consolidated result * The upper figures in North America and Europe show results on a local currency basis * Figures in square brackets ([ ]) are based on the FY2024 forex for comparison with the previous year in real terms
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Business Results Highlights (Profits) * Due to intercompany elimination, values do not add up to consolidated result * The upper figures in North America and Europe show results on a local currency basis * Figures in square brackets ([ ]) are based on the FY2024 forex for comparison with the previous year in real terms 02 3Q YTD FY2024 3Q YTD FY2025 Full Year FY2025 Results Profit margin Results Profit margin YoY (%) Forecasts Profit margin YoY (%) Japan JPY bn 19.48 9.8% 20.77 10.4% +6.6% 35.94 12.4% +1.4% North America (ODC) USD mn JPY bn 198.8 30.13 16.7% 186.0 27.49 15.5% -6.4% -8.7% 288.5 40.39 17.3% +5.8% -2.7% Europe (NF) EUR mn JPY bn 10.1 1.66 2.0% 7.6 1.26 1.5% -24.7% -24.3% 25.6 4.10 3.5% +23.8% +20.5% Asia JPY bn 0.15 1.4% 0.03 0.3% -83.1% 0.51 3.2% +35.2% Operating profit JPY bn 50.97 10.7% 49.68 [50.37] 10.6% -2.5% [-1.2%] 81.00 [84.64] 12.4% +0.6% [+5.1%] Ordinary profit JPY bn 53.54 11.3% 50.95 [51.69] 10.9% -4.8% [-3.5%] 82.70 [86.49] 12.6% -1.6% [+2.9%] Net profit attributable to owners of parent JPY bn 37.29 7.8% 38.01 [38.54] 8.1% +1.9% [+3.4%] 58.00 [60.78] 8.9% +0.8% [+5.7%] Analysis of changes in operating profit (consolidated) 〉 Operating profit declined due to the impact of foreign exchange in addition to lower sales volume and cost increases, despite steady price pass-through YoY change -1.29 billion yen 50.97 -2.73 +0.64 -0.69 49.68 ● Higher profit driven by steady price pass-through despite lower sales volume ● Lower profit mainly due to lower sales volume of door products and the resulting deterioration in productivity, despite improved price pass-through to offset cost increases due to tariff impacts ● Lower profit due to lower sales volume despite efforts to improve price pass-through -2.50 +3.99 JPY bn ● Lower profit due to delayed recovery in the Eastern China business and a reactionary decline from the previous year in Hong Kong Comments on 3Q FY2025 YTD results Forex rate 2024 3Q 2025 3Q 2025 Full year １USD 151.59 147.78 140.00 １EUR 164.61 165.57 160.00
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JPY in millions, % 1H 3Q YTD Full Year 1H 3Q YTD Full Year Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Forecast Profit margin Y/Y Net Sales 313,827 (9.9) 475,111 (9.1) 662,380 (8.4) 309,232 (-1.5) 468,152 (-1.5) 654,000 (-1.3) [315,989] [0.7] [472,473] [-0.6] [677,606] [2.3] Japan 130,421 (7.4) 198,965 (8.7) 287,676 (8.3) 132,657 (1.7) 198,823 (-0.1) 289,105 (0.5) NA (ODC) 118,999 (14.4) 180,682 (12.2) 245,505 (11.6) 115,694 (-2.8) 177,165 (-1.9) 233,538 (-4.9) Europe(NF) 57,824 (6.2) 85,101 (3.8) 114,356 (2.5) 55,293 (-4.4) 83,630 (-1.7) 117,024 (2.3) Asia 6,866 (15.4) 10,734 (10.9) 15,354 (7.0) 5,849 (-14.8) 8,942 (-16.7) 15,645 (1.9) Operating Profit 32,313 10.3 (16.5) 50,967 10.7 (23.8) 80,515 12.2 (23.2) 33,695 10.9 (4.3) 49,675 10.6 (-2.5) 81,000 12.4 (0.6) [34,532] [6.9] [50,368] [-1.2] [84,642] [5.1] Japan 12,327 9.5 (17.5) 19,482 9.8 (32.8) 35,441 12.3 (27.8) 14,391 10.8 (16.7) 20,772 10.4 (6.6) 35,940 12.4 (1.4) NA (ODC) 19,605 16.5 (19.0) 30,128 16.7 (22.2) 41,503 16.9 (20.3) 18,459 16.0 (-5.8) 27,492 15.5 (-8.7) 40,386 17.3 (-2.7) Europe(NF) 852 1.5 (-32.0) 1,661 2.0 (-29.7) 3,405 3.0 (-12.4) 909 1.6 (6.8) 1,257 1.5 (-24.3) 4,103 3.5 (20.5) Asia 140 2.1 (198.0) 151 1.4 (-27.6) 373 2.4 (-35.1) -119 -2.0 （－） 25 0.3 (-83.1) 505 3.2 (35.2) Ordinary Profit 34,201 10.9 (25.9) 53,544 11.3 (32.0) 84,015 12.7 (29.4) 34,500 11.2 (0.9) 50,952 10.9 (-4.8) 82,700 12.6 (-1.6) [35,362] [3.4] [51,687] [-3.5] [86,486] [2.9] 23,775 7.6 (7.5) 37,291 7.8 (18.6) 57,512 8.7 (33.0) 26,451 8.6 (11.3) 38,005 8.1 (1.9) 58,000 8.9 (0.8) [27,070] [13.9] [38,542] [3.4] [60,781] [5.7] <Local Currency> $ in thousands, € in thousands, _% 1H 3Q YTD Full Year 1H 3Q YTD Full Year Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Profit margin Y/Y Forecast Profit margin Y/Y NA (ODC) 772,426 (1.4) 1,191,916 (3.3) 1,612,621 (3.5) 784,473 (1.6) 1,198,848 (0.6) 1,668,132 (3.4) Europe(NF) 348,088 (-5.4) 516,986 (-4.6) 695,766 (-4.4) 340,811 (-2.1) 505,104 (-2.3) 731,401 (5.1) NA (ODC) 127,257 16.5 (5.5) 198,751 16.7 (12.5) 272,621 16.9 (11.6) 125,165 16.0 (-1.6) 186,036 15.5 (-6.4) 288,475 17.3 (5.8) Europe(NF) 5,129 1.5 (-39.5) 10,095 2.0 (-35.5) 20,721 3.0 (-18.4) 5,608 1.6 (9.3) 7,597 1.5 (-24.7) 25,645 3.5 (23.8) 1. Figures of [ ] in FY2025 is assumed forex ratio same as FY2024. 2. Figures are rounded off. (+) is for increase, (-) is for decrease. 1H FY 3Q 3. Forex rate is term average. 154.06 152.24 147.78 4. Figures by entities are before consolidation adjustment and do not add up to total. 166.12 164.36 165.57 FY2025 FY2025FY2024 FY2025 Profit attributable to owners of parent Forex Rate FY2024 Sales Profit assumed forex rate same as the previous year assumed forex rate same as the previous year assumed forex rate same as the previous year assumed forex rate same as the previous year FY2024 151.59 164.61 USD 147.48 162.24 140.00 160.00EUR FY (F)1H3Q 03 Outline of Consolidated Results by Sector
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04 Order Intake & Net Sales by Products (Japan) (JPY in millions, ％) FY2024 FY2025 3Q YTD Full Year 3Q YTD Full Year (F) Order Intake Sales % to total Order Intake % to total Sales % to total Order Intake Sales % to total Order Intake % to total Sales % to total (2.2) (3.6) (2.1) (2.9) (-0.8) (-1.0) (2.3) (2.0) 20,977 20,182 10.1 27,175 9.2 27,010 9.4 20,811 19,977 10.0 27,799 9.1 27,540 9.5 (1.8) (11.7) (4.4) (14.7) (-2.1) (-4.8) (3.1) (-4.7) 29,600 26,760 13.5 40,176 13.7 39,185 13.6 28,992 25,471 12.8 41,431 13.6 37,338 12.9 (12.5) (15.6) (12.0) (13.2) (18.2) (8.9) (3.7) (3.7) 20,087 17,327 8.7 26,506 9.0 25,387 8.8 23,736 18,870 9.5 27,487 9.0 26,322 9.1 (2.2) (4.8) (2.6) (3.8) (4.4) (-7.0) (3.8) (0.8) 53,285 46,249 23.2 69,750 23.7 68,012 23.6 55,628 43,021 21.6 72,411 23.8 68,543 23.7 (6.4) (16.0) (5.7) (11.2) (1.5) (2.7) (11.5) (4.8) 14,680 11,142 5.6 19,401 6.6 17,809 6.2 14,893 11,439 5.8 21,623 7.1 18,664 6.5 (2.0) (16.3) (3.4) (16.5) (9.8) (1.2) (-3.3) (-5.0) 29,085 27,004 13.6 39,334 13.4 39,816 13.8 31,944 27,321 13.7 38,056 12.5 37,808 13.1 (-4.9) (-4.1) (-2.7) (-4.3) (-1.0) (-0.6) (2.8) (2.7) 11,935 11,774 5.9 15,720 5.3 15,497 5.4 11,816 11,705 5.9 16,161 5.3 15,913 5.5 (9.9) (7.4) (9.1) (8.0) (6.7) (8.5) (8.2) (5.7) 41,144 36,535 18.4 53,373 18.1 52,542 18.3 43,886 39,631 19.9 57,766 19.0 55,556 19.2 (8.5) (37.3) (1.5) (4.8) (-35.7) (-30.2) (-46.4) (-41.2) 2,149 1,983 1.0 2,688 0.9 2,413 0.8 1,381 1,384 0.7 1,440 0.5 1,418 0.5 (4.3) (8.7) (4.7) (8.3) (4.5) (-0.1) (3.4) (0.5) 222,948 198,965 100.0 294,128 100.0 287,676 100.0 233,091 198,823 100.0 304,176 100.0 289,105 100.0 149,111 165,093 1. ( )= % year on year 2.Outstanding order backlog - Backlog of orders including orders worked-in-process. 3.OSD, OS, and waterproof -related products, which were previously disclosed, are now included in "Other shutters". Outstanding Order Backlog Commercial buildings/ Condominiums doors Other shutters Partitions Entrance Housing-related products Maintenance & repair Others Total Lightweight shutters Heavy-duty shutters 131,584 146,655 the end of Dec. 2024 the end of Mar. 2025 the end of Dec. 2025 the end of Mar. 2026(F)
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NF Group Sales Performance € in thousands, _% FY2024 FY2025 1H 3Q YTD Full Year 1H 3Q YTD Full Year (F) % to total % to total % to total % to total % to total % to total (2.0) (1.0) (8.7) 104,203 29.9 157,713 30.5 214,070 30.8 106,272 31.2 159,283 31.5 232,724 31.8 (-6.6) (-5.4) (1.8) 69,143 19.9 99,911 19.3 130,632 18.8 64,588 19.0 94,547 18.7 133,005 18.2 (-3.6) (-3.5) (2.5) 124,542 35.8 183,311 35.5 249,664 35.9 120,040 35.2 176,978 35.0 255,988 35.0 (-0.6) (-2.3) (8.2) 50,200 14.4 76,050 14.7 101,400 14.6 49,909 14.6 74,294 14.7 109,684 15.0 (-5.4) (-4.6) (-4.4) (-2.1) (-2.3) (5.1) 348,088 100.0 516,986 100.0 695,766 100.0 340,811 100.0 505,104 100.0 731,401 100.0Net Sales Sales breakdown by products Hinged Door Garage Door Industrial Door Maintenance Service ODC Sales Performance $ in thousands, _% FY2024 FY2025 1H 3Q YTD Full Year 1H 3Q YTD Full Year (F) % to total % to total % to total % to total % to total % to total (2.0) (4.2) (2.8) (-1.9) (-3.4) (2.3) 562,641 72.8 865,713 72.6 1,157,087 71.8 552,199 70.4 836,648 69.8 1,183,316 70.9 (7.7) (8.4) (6.0) (-4.1) (-4.6) (2.9) 288,203 [51.2] 443,642 [51.2] 589,952 [51.0] 276,450 [50.1] 423,101 [50.6] 607,107 [51.3] (-3.4) (0.1) (-0.4) (0.5) (-2.0) (1.6) 274,438 [48.8] 422,070 [48.8] 567,135 [49.0] 275,749 [49.9] 413,546 [49.4] 576,209 [48.7] (-0.4) (2.1) (4.8) (8.3) (6.7) (5.8) 145,652 18.9 228,278 19.2 315,368 19.6 157,719 20.1 243,648 20.3 333,684 20.0 (0.4) (-1.3) (7.2) (16.3) (21.1) (7.8) 64,131 8.3 97,924 8.2 140,165 8.7 74,554 9.5 118,550 9.9 151,131 9.1 (1.4) (3.3) (3.5) (1.6) (0.6) (3.4) 772,426 100.0 1,191,916 100.0 1,612,621 100.0 784,473 100.0 1,198,848 100.0 1,668,132 100.0Net Sales Sales breakdown by products Vehicular Access Electronic & Perimeter Access Control Residential Commercial Pedestrian Access 1. ( ) = Year-on-year % change 2. Beginning in FY2025, Maintenance Service is shown as a new category, and FY2024 results have been reclassified to reflect this change 1. ( ) = Year-on-year % change 2. Figures in [ ] indicate the composition ratio of vehicular access by use 3. Previous “Door” ”Operator” ”Automatic Door” are now “Vehicular Access” ”Electronic & Perimeter Access Control” ”Pedestrian Access” respectively 05 North America & Europe: Net Sales by products (ODC, NF)