Interim report
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Flash Report of Financial Results for the First Quarter of the Year Ending March 31 , 2027 ( Japanese Standards ) ( Consolidated ) Company name Topre Corporation Securities code 5975 URL https://www.topre.co.jp FASE Listed August 7 , 2026 Tokyo Stock Exchange ( Name ) Yutaka Yamamoto Representative ( Title ) Representative Director , President , Executive Officer Contact person ( Title ) Executive Officer , General Manager of General Affairs Dept. ( Name ) Koichiro Matsuura TEL 03-3271-0711 Scheduled date to begin dividend payments : Supplementary materials for financial results : Financial results information meeting held : No No ( Yen amounts are rounded down to the nearest million ) 1. Consolidated Financial Results for the Three Months Ended June 30 , 2026 ( April 1 , 2026 through June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( Cumulative ) ( % , YoY ) Quarterly Profit Net Sales Operating Profit Ordinary Profit Attributable to Owners of Parent Company Millions of Yen 100,646 88,120 % 14.2 ( 2.7 ) Millions of Yen 6,808 4,873 % 39.7 3.5 Millions of Yen % Millions of Yen % 9,038 2,744 229.4 ( 74.0 ) 6,562 221.8 2,039 ( 70.9 ) Three Months Ended June 30 , 2026 Three Months Ended June 30 , 2025 Note : Comprehensive income Three Months Ended June 30 , 2026 Three Months Ended June 30 , 2025 Three Months Ended June 30 , 2026 Three Months Ended June 30 , 2025 ( 2 ) Consolidated Financial Position ¥ 9,751 million [ 507.8 % ] ¥ 1,604 million [ ( 85.2 % ) ] Net Profit per Share ( Quarter ) | Yen 134.26 40.78 Fully Diluted Net Profit per Share ( Quarter ) Yen Total Assets Total Equity Equity Capital Ratio Equity per Share Millions of Yen Millions of Yen % Yen Three Months Ended June 30 , 2026 380,791 389,387 251,347 247,283 65.0 62.5 5,116.85 4,926.54 Year Ended March 31 , 2026 Ref .: Equity Capital Three Months Ended June 30 , 2026 : ¥ 247,500 million Year Ended March 31 , 2026 : ¥ 243,461 million 2. Dividends Year Ended March 31 , 2026 Year Ending March 31 , 2027 End of Q1 End of Q2 Dividend per Share End of Q3 End of Q4 Total Yen Yen 40.00 Yen Yen 60.00 Yen 100.00 Year Ending March 31 , 2027 ( Forecast ) 50.00 Note : Revision from the most recently released dividend estimate : No 50.00 100.00 3. Consolidated Financial Results Forecast for the Year ending March 31 , 2027 ( April 1 , 2026 through March 31 , 2027 ) Net Sales Operating Profit Ordinary Profit Attributable to Owners of Parent Company ( % , YoY ) Net Profit per Share Millions of Yen % Millions of Yen % Millions of Yen % Millions of Yen % Yen Six months ending September 30 , 2026 200,000 12.5 11,000 5.0 12,000 9.2 8,000 10.8 163.68 Full year ending 392,000 3.5 23,000 ( 18.0 ) 24,000 ( 32.9 ) 15,000 ( 19.2 ) 302.64 March 31 , 2027 Note : Revision from the most recently released financial results forecast : Yes
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*Notes (1) Significant Changes in the Scope of Consolidation during the Three Months Ended June 30, 2026: No (2) Use of Accounting Methods Specific to Preparation of the Quarterly Consolidated Financial Statements: No (3) Changes in Accounting Policies and Changes/Restatements in Accounting Estimates (i) Changes in accounting policies due to amendments of accounting standards : No (ii) Other changes in accounting policies : No (iii) Changes in accounting estimates : No (iv) Restatements : No (4) Number of Shares Issued (Common Stock) (i) Total number of shares issued at the end of the period (including treasury shares) (ii) Number of treasury shares at the end of the period (iii) Average number of shares during the period (cumulative for the quarter) Note: In the Q2 accounting period for the Year Ended March 31, 2017, we adopted a Board Incentive Plan Trust for director stock compensation. The company’s shares held by this trust are included in treasury shares. *Review of the Attached Quarterly Consolidated Financial Statements by a Certified Public Accountant or Auditing Firm: No *A Cautionary Note on Forward-looking Statements This report contains forward-looking statements including those concerning future performance of Topre Corporation (“Topre”), and those statements are based on information available to Topre and certain assumptions that Topre deems reasonable. Various factors may cause Topre’s actual results to be materially different from any future performance expressed or implied by these forward-looking statements. Three months ended June 30, 2026 54,021,824 shares Year ended March 31, 2026 54,021,824 shares Three months ended June 30, 2026 5,652,073 shares Year ended March 31, 2026 4,603,429 shares Three months ended June 30, 2026 48,876,398 shares Three months ended June 30, 2025 50,003,464 shares
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- 1 - ○Table of Attached Materials 1. Qualitative Data on Quarterly Financial Results .................................................................................... 2 (1) Explanations on Operating Results ................................................................................................... 2 (2) Explanations on Financial Position ................................................................................................... 2 (3) Explanations on Consolidated Financial Forecasts and Other Forward-Looking Statements ........... 3 2. Quarterly Consolidated Financial Statements and Notes ........................................................................ 4 (1) Quarterly Consolidated Balance Sheet .............................................................................................. 4 (2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income ..................................................................................................................... 6 Quarterly Consolidated Statement of Income .............................................................................. 6 Quarterly Consolidated Statement of Comprehensive Income ..................................................... 7 (3) Notes on Quarterly Consolidated Financial Statements ..................................................................... 8 (Assumptions for going concern) .................................................................................................... 8 (Notes on a significant change in the amount of shareholders’ equity) ........................................... 8 (Changes in scope of consolidation or scope of application of the equity method) ......................... 8 (Use of accounting methods specific to preparation of the quarterly consolidated financial statements) ........................................................................................................................................ 8 (Changes in accounting policies) ..................................................................................................... 8 (Changes in presentation methods) ................................................................................................... 8 (Changes in accounting estimates) .................................................................................................. 9 (Notes on quarterly consolidated statement of cash flows) .............................................................. 9 (Segment information) ...................................................................................................................... 9 (Significant subsequent events) ........................................................................................................ 10 3. Other ...................................................................................................................................................... 10 (Significant events pertaining to assumptions for going concern) .................................................... 10
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- 2 - 1. Qualitative Data on Quarterly Financial Results (1) Explanations on Operating Results (i) Summary For the three months ended June 30, 2026, the Group’s consolidated net sales were ¥100,646 million, a year-on-year increase of ¥12,525 million (up 14.2%), and operating profit was ¥6,808 million, a year-on-year increase of ¥1,934 million (up 39.7%). Ordinary profit was ¥9,038 million, a year-on-year increase of ¥6,294 million (up 229.4%), due to factors such as foreign exchange effects arising from the valuation of foreign- currency-denominated receivables. Profit attributable to owners of parent company was ¥6,562 million, a year-on-year increase of ¥4,523 million (up 221.8%). (ii) Breakdown by business segment Press-Related Products Business In the Press-Related Products Business, both net sales and operating profit increased year on year due to a rise in material volume in the United States. As a result, total net sales of the Press-Related Products Business amounted to ¥80,414 million, a year-on-year increase of ¥10,198 million (up 14.5%). Segment income (operating profit) was ¥4,537 million, a year-on-year increase of ¥1,670 million (up 58.3%). Temperature Controlled Logistics-Related Business In the Temperature Controlled Logistics-Related Business, both net sales and operating profit of the refrigerator truck segment increased year on year due to an increase in the units of small-sized vehicles sold, as well as the streamlined production system. As a result, total net sales of the Temperature Controlled Logistics-Related Business were ¥16,407 million, a year-on-year increase of ¥1,968 million (up 13.6%). Segment income (operating profit) was ¥1,851 million, a year-on-year increase of ¥154 million (up 9.1%). Other Businesses In the air-conditioning equipment segment, both net sales and operating profit increased year on year, with maintenance services in the residential segment and sales of heat-mitigation products remaining strong. In the electronic equipment segment, both net sales and operating profit increased year on year, driven by higher unit sales of REALFORCE keyboards from its expanded product lineup and higher unit sales of OEM touch panel products for industrial equipment. In the Transportation Business, both net sales and operating profit increased year on year. As a result, total net sales of Other Businesses amounted to ¥3,824 million, a year-on- year increase of ¥358 million (up 10.3%). Segment income (operating profit) was ¥416 million, a year-on- year increase of ¥112 million (up 37.0%). (2) Explanations on Financial Position Status of Assets, Liabilities, and Net Assets ASSETS Current assets were ¥167,673 million, mainly due to decreases in cash and deposits. Non-current assets were ¥213,117 million, primarily due to an increase in property, plant and equipment. As a result, total assets amounted to ¥380,791 million, a ¥8,595 million decrease from the end of the Consolidated Fiscal Year ended March 31, 2026. LIABILITIES Current liabilities were ¥84,104 million, primarily due to a decrease in income taxes payable. Non-current liabilities were ¥45,340 million, primarily due to a decrease in long-term loans payable. As a result, total liabilities were ¥129,444 million, a decrease of ¥12,659 million from the end of the Consolidated Fiscal Year ended March 31, 2026. NET ASSETS Net assets amounted to ¥251,347 million, an increase of ¥4,063 million from the end of the Consolidated Fiscal Year ended March 31, 2026, primarily due to higher retained earnings.
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- 3 - (3) Explanations on Consolidated Financial Forecasts and Other Forward-Looking Statements Regarding the forecast for the consolidated financial results for the full year ending March 31, 2027, which we announced on May 14, 2026, we have added the forecast for the consolidated financial results for the six months ending September 30, 2026 (interim period) based on the latest business performance trends and other factors, which we had not announced previously. Please note that the forecast for the consolidated financial results for the full year ending March 31, 2027 remains unchanged from that announced on May 14, 2026. For details, please refer to the “Notice regarding the Announcement of the Forecast for the Financial Results for the Six Months Ending September 30, 2026 (Interim Period),” which we announced today.
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- 4 - 2. Quarterly Consolidated Financial Statements and Notes (1) Quarterly Consolidated Balance Sheet (Unit: Millions of Yen) Consolidated Fiscal Year Ended March 31, 2026 (as of March 31, 2026) Three Months Ended June 30, 2026 (as of June 30, 2026) ASSETS Current assets Cash and deposits 62,855 55,612 Notes and accounts receivable - trade 60,161 57,030 Securities 5,994 2,996 Inventories 39,149 39,771 Other 12,108 12,262 Allowance for bad debt (0) － Total current assets 180,268 167,673 Non-current assets Property, plant, and equipment Buildings and structures (net) 73,421 81,389 Machinery, equipment, and vehicles (net) 49,489 53,899 Construction in progress 22,701 13,391 Other (net) 26,425 25,774 Total property, plant, and equipment 172,036 174,454 Intangible assets 1,375 1,396 Investments and other assets Investment securities 22,388 23,893 Net defined benefit asset 7,403 7,496 Other 6,005 5,885 Allowance for bad debt (91) (9) Total investments and other assets 35,705 37,266 Total non-current assets 209,118 213,117 Total assets 389,387 380,791
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- 5 - (Unit: Millions of Yen) Consolidated Fiscal Year Ended March 31, 2026 (as of March 31, 2026) Three Months Ended June 30, 2026 (as of June 30, 2026) LIABILITIES Current liabilities Notes and accounts payable - trade 56,049 54,201 Current portion of long-term loans payable 9,155 9,070 Income taxes payable 6,692 1,715 Provision for bonuses 3,484 1,704 Provision for directors’ bonuses 94 26 Provision for product warranties 270 288 Other 19,840 17,096 Total current liabilities 95,586 84,104 Non-current liabilities Bonds payable 15,500 15,500 Long-term loans payable 20,793 18,583 Deferred tax liabilities 7,700 8,483 Reserve for PCB waste disposal 17 17 Provision for directors’ incentive plan trust 234 318 Net defined benefit liability 370 395 Other 1,900 2,041 Total non-current liabilities 46,517 45,340 Total liabilities 142,103 129,444 NET ASSETS Shareholders’ equity Capital stock 5,610 5,610 Capital surplus 4,916 5,122 Retained earnings 204,705 208,291 Treasury shares (7,278) (10,164) Total shareholders’ equity 207,952 208,859 Accumulated other comprehensive income Valuation difference on available-for-sale securities 8,656 9,442 Foreign currency conversion adjustment 24,328 26,736 Accumulated re-measurements of defined benefit plans 2,523 2,462 Total accumulated other comprehensive income 35,508 38,640 Non-controlling interests 3,821 3,846 Total net assets 247,283 251,347 Total liabilities and net assets 389,387 380,791
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- 6 - (2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income (Quarterly Consolidated Statement of Income) (Unit: Millions of Yen) Three Months Ended June 30, 2025 (From April 1, 2025 to June 30, 2025) Three Months Ended June 30, 2026 (From April 1, 2026 to June 30, 2026) Net sales 88,120 100,646 Cost of sales 78,579 88,607 Gross profit 9,541 12,039 Selling, general and administrative expenses 4,667 5,231 Operating profit 4,873 6,808 Non-operating income Interest income 201 180 Dividend income 354 383 Gain on valuation of securities 18 － Reversal of allowance for doubtful accounts 0 82 Foreign exchange gains － 1,499 Subsidy income 2 1 Share of profit of entities accounted for using the equity method － 132 Other 80 103 Total non-operating income 656 2,382 Non-operating expenses Interest expenses 50 63 Interest on bonds 26 44 Loss on sales of securities 18 － Foreign exchange losses 2,553 － Share of losses of entities accounted for using the equity method 77 － Foreign withholding tax 22 14 Other 36 29 Total non-operating expenses 2,785 152 Ordinary profit 2,744 9,038 Extraordinary income Gain on sales of non-current assets 29 34 Gains on sales of investment securities 701 － Total extraordinary income 731 34 Extraordinary losses Loss on sales and retirement of non-current assets 20 9 Other － 0 Total extraordinary losses 20 9 Quarterly income before income taxes 3,455 9,063 Income taxes - current 1,305 1,649 Income taxes deferred 66 794 Total income taxes 1,371 2,443 Quarterly profit 2,084 6,619 Quarterly profit attributable to non-controlling interests 45 57 Quarterly profit attributable to owners of parent company 2,039 6,562
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- 7 - (Quarterly Consolidated Statement of Comprehensive Income) (Unit: Millions of Yen) Three Months Ended June 30, 2025 (From April 1, 2025 to June 30, 2025) Three Months Ended June 30, 2026 (From April 1, 2026 to June 30, 2026) Quarterly profit 2,084 6,619 Other comprehensive income Valuation difference on available-for-sale securities 347 779 Foreign currency conversion adjustment (633) 2,276 Re-measurements of defined benefit plans (17) (63) Share of other comprehensive income of entities accounted for using the equity method (176) 140 Total other comprehensive income (479) 3,132 Quarterly comprehensive income 1,604 9,751 (Breakdown) Quarterly comprehensive income attributable to owners of parent company 1,557 9,694 Quarterly comprehensive income attributable to non- controlling interests 46 57
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- 8 - (3) Notes on Quarterly Consolidated Financial Statements (Assumptions for going concern) No items to report. (Notes on a significant change in the amount of shareholders’ equity) (1) Purchase of treasury shares Based on the resolution of the Board of Directors meeting held on May 14, 2026, we acquired 1,050,000 treasury shares. (2) Disposal of treasury shares Based on the resolution of the Board of Directors meeting held on May 14, 2026, we disposed of 305,967 treasury shares as stock compensation. As a result, during the three months ended June 30, 2026, treasury shares increased by ¥2,885 million through treasury share acquisitions and disposals and the purchase of fractional shares, totaling ¥10,164 million at the end of the period. (Changes in scope of consolidation or scope of application of the equity method) No items to report. (Use of accounting methods specific to preparation of the quarterly consolidated financial statements) No items to report. (Changes in accounting policies) No items to report. (Changes in presentation methods) (Consolidated Balance Sheet) “Non-current liabilities” and “Long-term accounts payable - other” were independently reported during the Consolidated Fiscal Year ended March 31, 2026. However, because these items are no longer quantitatively material, they are included and reported in the “Other” category during the three months ended June 30, 2026. To reflect this change in presentation, we restated the consolidated financial statements for the Consolidated Fiscal Year ended March 31, 2026. As a result, ¥7 million for “Long-term accounts payable” and ¥1,893 million for “Other” under “Non- current liabilities” on the Balance Sheet for the Consolidated Fiscal Year ended March 31, 2026 are now restated as ¥1,900 million in the “Other” category. (Consolidated Statement of Income) “Rent income on non-current assets” under “Non-operating income” was independently indicated for the three months ended June 30, 2025. However, because this item is no longer quantitatively material, it is now included and indicated in “Other” for the three months ended June 30, 2026. To reflect this change in presentation, we restated the consolidated financial statements for the three months ended June 30, 2025. As a result, ¥15 million for “Rent income on non-current assets” and ¥65 million for “Other” under “Non- operating income” for the three months ended June 30, 2025 are now restated as ¥80 million in the “Other” category. “Rent expenses on non-current assets” under “Non-operating expenses” was independently indicated for the three months ended June 30, 2025. However, because this item is no longer quantitatively material, it is now included and indicated in “Other” for the three months ended June 30, 2026. To reflect this change in presentation, we restated the consolidated financial statements for the three months ended June 30, 2025. As a result, ¥1 million for “Rent expenses on non-current assets” and ¥35 million for “Other” under “Non- operating expenses” indicated for the three months ended June 30, 2025 are now restated as ¥36 million in the “Other” category.
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- 9 - (Changes in accounting estimates) No items to report. (Notes on quarterly consolidated statements of cash flows) We have not prepared a quarterly consolidated statement of cash flows for the three months ended June 30, 2026. The depreciation expenses (including amortization of intangible assets) for the three months ended June 30, 2026 are as follows. Three Months Ended June 30, 2025 (from April 1, 2025 to June 30, 2025) Three Months Ended June 30, 2026 (from April 1, 2026 to June 30, 2026) Depreciation expenses ¥5,715 million ¥6,128 million (Segment information) [Segment information] I. Three Months Ended June 30, 2025 (from April 1, 2025 to June 30, 2025) 1. Information on amounts of sales and profit or loss for each reportable segment (Unit: Millions of Yen) Reportable segment Other (Note 1) Total Adjusted amount (Note 2) Amount recorded on Quarterly Consolidate d Statement of Income (Note 3) Press- Related Products Business Temperature Controlled Logistics- Related Business Total Net Sales Net sales to external clients 70,216 14,438 84,654 3,466 88,120 － 88,120 Internal sales and transfers between segments － 5 5 358 364 (364) － Total 70,216 14,443 84,660 3,824 88,484 (364) 88,120 Segment profit 2,866 1,696 4,563 303 4,867 6 4,873 Notes: 1. The “Other” category represents business segments not included in the reportable segments, including Toho Transportation Co., Ltd., as well as our air-conditioning and electronic equipment segments. 2. Adjustments for segment profit represent amounts eliminated for inter-segment transactions and other adjustments. 3. The total for segment profit is equivalent to Operating Profit on the Quarterly Consolidated Statement of Income. 2. Information on impairment losses on non-current assets or goodwill for each reportable segment (Significant impairment losses pertaining to non-current assets) No items to report. (Significant gains on negative goodwill) No items to report.
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- 10 - II. Three Months Ended June 30, 2026 (from April 1, 2026 to June 30, 2026) 1. Information on amounts of sales and profit or loss for each reportable segment (Unit: Millions of Yen) Reportable segment Other (Note 1) Total Adjusted amount (Note 2) Amount recorded on Quarterly Consolidate d Statement of Income (Note 3) Press- Related Products Business Temperature Controlled Logistics- Related Business Total Net Sales Net sales to external clients 80,414 16,407 96,822 3,824 100,646 － 100,646 Internal sales and transfers between segments － 7 7 362 369 (369) － Total 80,414 16,414 96,829 4,186 101,015 (369) 100,646 Segment profit 4,537 1,851 6,388 416 6,804 3 6,808 Notes: 1. The “Other” category represents business segments not included in the reportable segments, including Toho Transportation Co., Ltd., as well as our air-conditioning and electronic equipment segments. 2. Adjustments for segment profit represent amounts eliminated for inter-segment transactions and other adjustments. 3. The total for segment profit is equivalent to Operating Profit on the Quarterly Consolidated Statement of Income. 2. Information on impairment losses on non-current assets or goodwill for each reportable segment (Significant impairment losses pertaining to non-current assets) No items to report. (Significant gains on negative goodwill) No items to report. (Significant subsequent events) No items to report. 3. Other (Significant events pertaining to assumptions for going concern) No items to report.