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GLORY LTD. FY2025 Consolidated Financial Results Interim period — Six Months Ended September 30, 2025
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FY2025 Interim period 1 Summary of Financial Results Akihiro Harada, President 2 Financial Results Yukiya Tanaka Executive Officer Executive General Manager, Management Strategy Headquarters FY2025 Full-year 3 Financial Forecast Yukiya Tanaka Executive Officer Executive General Manager, Management Strategy Headquarters
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FY2025 Interim period 1 Summary of Financial Results Akihiro Harada, President
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Consolidated Financial Forecast for the fiscal year ending March 2026 Japanese GAAP Sales 340.0 billion yen Operating income 24.0 billion yen (32.5 billion yen before goodwill amortization) YoY: -29.0 billion yen (-7.9%) YoY: -12.7 billion yen (-34.7%) IFRS Revenue 340.0 billion yen Operating profit 29.5 billion yen Overseas market: While the U.S. trade policy has had some impacts, the overall effect on our full-year financial forecast remains minimal. Domestic market: Active capital expenditures by financial institutions are anticipated from the second half. Demand for self-service products in retail and transportation market is expected to remain strong. Summary of Financial Results Consolidated Financial Results Six Months ended September 30, 2025 Sales 153.8 billion yen Operating income 6.8 billion yen (11.0 billion yen before goodwill amortization) YoY: -31.2 billion yen (-16.9%) YoY:-12.8 billion yen (-65.2%) Overseas market: Sales were flat (YoY: +0.3 billion yen), while operating income showed signs of recovery (YoY: +2.1 billion yen.) Domestic market: Sales and operating income decreased as anticipated, following last year’s surge driven by hardware replacements and system modifications related to the new banknote issuance. Net sales exceed those for the fiscal year ended March 2023, before the strong demand associated with new banknote issuance. Latest forecast (disclosed in August 2025): 5.3 billion yen Results: 6.8 billion yen Variance: +1.5 billion yen IFRS will be applied starting with the financial results for the fiscal year ending March 2026. Previous forecast (disclosed in August 2025): 21.5 billion yen Latest forecast (disclosed in November 2025): 24.0 billion yen Variance: +2.5 billion yen 4Summary Financial Results Financial Forecast
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222.3 226.9 222.5 227.3 235.7 224.1 217.4 226.5 255.8 372.4 369.0 340.0 18.6 20.5 20.3 19.6 20.5 17.9 14.2 10.1 0.5 51.1 36.7 24.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 (Forecast) Sales Operating income Summary of Financial Results ◆ Trends in sales and operating income <Japanese GAAP> + ¥ 120.0 billion + ¥ 5.0 billion (billion yen) (billion yen) Sales Operating income Looking back over the past decade, our true performance level was sales of just over ¥200 billion and operating income of around ¥18–20 billion. After overcoming the recent period of special factors, FY2025 saw expansion in both sales and operating income. We have been pursuing organic growth, aiming for a scale of around ¥340 billion in sales and ¥24.0 billion in operating income (¥29.5 billion under IFRS). <Negative special factors in the period> COVID/ Semiconductor shortage/ Component price increases/Security incident Operating income declined <Positive special factors in the period> Demand increased temporarily due to the new banknote issuance in Japan 5Summary Financial Results Financial Forecast Normal fiscal years without extraordinary factors
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◆ Overseas market profit and loss breakdown − Operating income is expected to increase significantly (+¥10.6 billion) in the second half of FY2025. − We expect to achieve the financial forecastas the profit margin improves, driven by an increase in net sales (+¥21.8 billion) in the second half, while fixed costs remain stable throughout the year. FY2025 First half Second half Increase in the 2nd half (billion yen) Actual Forecast as of November 10 Sales 97.1 118.9 +21.8 Variable costs 50.6 59.3 +8.7 Marginal income rate 48% 50% +2pt Fixed costs 40.2 42.7 +2.5 Goodwill amortization 4.1 4.1 0 Operating income 2.2 12.8 +10.6 0 50 100 150 FY2025 1st half FY2025 2nd half (forecast) Sales Operating income ◆ Business outlook for achieving second half target Americas Expanding sales of the CI series for OXXO. Captured demand for the GLR series from financial institutions. Targeting major convenience stores and gas stations. EMEA Sales to the postal service continue in Italy and the U.K. Sales for a major Spanish retailer continue. Asia Sales for financial institutions in Southeast Asia and India expected. Acrelec Continuing to expand sales of new solutions to meet the growing demand for takeout. Continuing approach both company-operated and franchised stores. Flooid Although costs are expected to temporarily increase during the development phase for new customers, exploring ways to expand sales to areas and customers where the service has not been introduced. Sales ¥97.1 billion Sales ¥118.9 billion (billion yen) Stable Operating income ¥2.2 billion Operating income ¥12.8 billion Overseas market [Achieving second half plan] 6Summary Financial Results Financial Forecast
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◆ Business outlook for achieving second half target 84.9 67.0 53.1 63.8 0 20 40 60 80 100 FY2024 1st half FY2024 2nd half FY2025 1st half FY2025 2nd half (forecast) Amusement Retail and Transportation Financial Domestic market [Recovery phase from the rebound] ◆ Sales by segment in domestic market (Japanese GAAP) − Recovery to normal pace following a rebound in demand for new banknote issuance Financial market Positive rates boost core earnings, fueling investment appetite. Capturing demand driven by efforts to unify and streamline operations at financial institutions. Advancing hardware replacement demands in line with the renewal of financial institutions’ core systems. Retail and transportation market Expand sales of self-service solutions that approach workforce shortages and operational challenges. Amusement market Increase in demand for smart amusement machine-related products, and maintenance of sales price and profit margins. (billion yen) The lowest point 7Summary Financial Results Financial Forecast
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Repokore! − A solution that streamlines sales proceeds calculation in commercial complexes • Monthly tenant fee in Japan = (1) fixed monthly fee + (2) the tenant's sales-linked fee • (2) The tenant's sales-linked fee; Commercial complexes are required to calculate sales proceeds accurately and quickly on a daily basis. • The calculation operation must manage the sales proceeds including various types of vouchers and credit card sales. This operation requires specialized skills. Commercial complex issues Sales report correction 15% Settlement receipts verification 25% Data entry 20% Checking and correcting data errors Reporting Handling inquiries Follow-up for tenants Instructions to new tenants Sales Proceeds Management Manual work Many processes that require manual input, manual counting, data transcription. Time-consuming Contains risk of stress and human error due to heavy workload. Person-dependent The process is person-dependent, involving many manual steps and prone to dependence on specific individuals. A dedicated staff member is required A representative for the commercial complex is required at the management office. Maintenance of master data Master data must be updated each time a tenant is replaced. Auditing vouchers, coupons, and sales proceeds data Issues Sales proceeds management at commercial complex Improved efficiency of sales proceeds calculation Chronic workforce shortage Staffing and operations New Solution -Streamlining sales proceeds management operations for commercial complexes 8Summary Financial Results Financial Forecast
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Centralizing management operations to reduce tenants’ workload. Centralizing sales proceeds management with our Repokore!, the cloud-based solution New Solution -Streamlining sales proceeds management operations for commercial complexes T enants Deposit Room Sales Data Input terminal Back - end sales management system Related departmentsDepositing cash and vouchers automatically Scanning payment receipts Posting other slips/vouchers Deposit Input data Deposit and daily report data Tenant billing, sales confirmation and analysis Shopping vouchers Data Deposit and shopping voucher data Receipts image data Mail box Shopping voucher issuer Cash - in - transit center Glory’s sales proceeds deposit machine Scanning only unread shopping vouchers at sales proceeds deposit machines Only adjusting unreadable receipts and merchandise certificates Reception machine Browser Back office Scan data Adjustment for unreadable items Smart device or Glory’s reception machine 9Summary Financial Results Financial Forecast
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Reducing work hours for tenants.Implementation benefits (1) *Glory’s assumption Conventional operations Repokore! Recording sales proceeds in the daily report Just scan the receipts! Submitting sales management reports based on settlement receipts to the commercial complex’s back office Scanning receipts Automatically detects characters using OCR processing 30 min reduction of man-hours per tenant New Solution -Streamlining sales proceeds management operations for commercial complexes Uploading Sales proceeds report Back office Tenants Tenants Sales proceeds receipt 10Summary Financial Results Financial Forecast
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Reduction of work hours for commercial complex’s staffImplementation benefits (2) Conventional business Repokore! Total: 45 hours •3 facilities •3 people/facility •5 hours work/person Count shopping vouchers and coupons and enter the data of them into the sales management system manually. Sorting shopping vouchers by issuer. Visually check the sales reports. Just insert coupons and other items into the machine. Unreadable receipts are adjusted by Repokore! Just press the upload button in Repokore! *Glory’s assumption New Solution -Streamlining sales proceeds management operations for commercial complexes Conventional operations Repokore! Back office Back office Back office Mall A Mall B Mall C Back offices Back office Back office Back office Mall A Mall B Mall C Total: 24 hours •3 facilities •2 people/facility •4 hours work/person 11Summary Financial Results Financial Forecast
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•3 people/centralized office •3 hours work/person Implementation benefits (3) Centralizing the sales proceeds management *Glory’s assumption New Solution -Streamlining sales proceeds management operations for commercial complexes Conventional operations Repokore! A dedicated representative is required in each facility Reducing duplicated operations through centralization! Total: 45 hours •3 facilities •3 people/facility •5 hours work/person Back office Back office Back office Mall A Mall B Mall C Centralized office Mall A Mall B Mall C Total: 9 hours 12Summary Financial Results Financial Forecast
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0 5,000 10,000 15,000 20,000 25,000 0 100 200 300 400 500 600 700 800 FY2021 FY2022 FY2023 FY2024 FY 2025 FY2026 FY2027 Sales amount (single year) Tenant cumulative total (million yen) (tenants) Sales amount and number of tenants. ● Shopping centers ● Tenant building ● Station building ● Outlet mall ● Airport ● Leisure facilities Installed facilities Sales = hardware + solution fee (recurring) (forecast) New Solution -Streamlining sales proceeds management operations for commercial complexes (forecast) (forecast) 13Summary Financial Results Financial Forecast
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14Summary Financial Results Financial Forecast Actions and Progress on KPIs in the 2026 Medium-Term Management Plan (Follow up of the disclosure on 13May, 2025)
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Action Matrix 2026 Medium-Term Management Plan: KPI Progress 15Summary Financial Results Financial Forecast Actions to achieve the target Net income ROE ROIC Cash efficiency ROIC Portfolio ROA 1. Realizing revenue expansion with acquired companies 〇 〇 〇 〇 2. Realizing high profitability in the Americas, which is positioned as a growth engine 〇 〇 〇 〇 3. Minimizing the impact of FX rates by strengthening global exchange risk management 〇 4. Strengthening shareholder returns 〇 〇 〇 〇 5. Adjusting debt levels based on optimal capital structure 〇 6. Optimizing the business portfolio 〇 〇 7. Improve efficiency by reducing operating capital, such as inventories and accounts receivable 〇 〇 8. Optimization of total assets through operating capital reduction and enhanced shareholder returns 〇 9. Streamlining the Balance Sheet by reducing inventories, accounts receivable, and working capital 〇
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2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025) 1. Realizing revenue expansion with acquired companies 2. Realizing high profitability in the Americas, which is positioned as a growth engine 3. Minimizing the impact of FX rates by strengthening global exchange risk management Actions to achieve the target: Net income (billion yen) Progress during the interim period FY2024 FY2025 Gap Assessment Measures 1.Maximize acquisition synergy Acrelec Net sales 15.1 14.2 - 0.9 〇 Customer investment slowdown due to U.S. trade policy Flooid Net sales 5.0 5.1 + 0.1 〇 Sales are steady, mainly in the SaaS business 2. Realizing high- profitability in the Americas Overseas market Operating income 0.1 2.2 + 2.1 〇 Profitability improved as maintenance services integration completed 3. Minimize exchange rate impact Overseas market Net sales 96.8 97.1 + 0.3 〇 Sales to retail industry in the Americas are robust Foreign exchange gain/loss -3.4 -0.5 + 2.9 〇 Global FX risk hedging, including at overseas subsidiaries, to mitigate foreign-exchange gains/losses 16Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress
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2026 Medium-Term Management Plan: KPI Progress 1. Realizing revenue expansion with acquired companies 2. Realizing high profitability in the Americas, which is positioned as a growth engine Actions to achieve the target: ROE 4. Strengthening shareholder returns 5. Consideration of debt levels based on optimal capital structure 17Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025) (billion yen) Progress during the interim period FY2024 FY2025 Gap Assessment Measures 4. Strengthened Shareholder returns Added a new item to the profit distribution policy - A total return ratio of 100% or more - 〇 Added policy of total return ratio: 100% or more (FY2025 and FY2026) Dividends per share ¥54 ¥56 + ¥2 〇 Dividends increased based on the policy: -Progressive dividends -DOE (Dividends on Shareholders' Equity) of 3% or more Acquisition of own shares - In progress (max ¥15 billion) - 〇 Acquisition progress has outpaced time elapsed as of end-October 2025. ◆ Progress Acquisition period: May 14, 2025 to October 31, 2025 (day progress rate 48%) *Until 13 May, 2026 Number of shares to be acquired: Approx. 2.31 million shares (progress 39%) *Max 6 million shares Acquisition price: Approx. 8 billion yen (progress 54%) *Max ¥15 billion
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4. Strengthening shareholder returns 5. Consideration of debt levels based on optimal capital structure 18Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress 1. Realizing revenue expansion with acquired companies 2. Realizing high profitability in the Americas, which is positioned as a growth engine Actions to achieve the target: ROE 2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025) (billion yen) Progress during the interim period FY2024 FY2025 Gap Assessment Measures 5. Debt level Short-term borrowings 26.7 25.0 - 1.7 〇 Maintain a level within the numerical target set out in the 2026 Medium-Term Management Plan -ownership equity ratio: approx. 50% -D/E ratio: 0.6 times or less Allowing for further strategic investment and enhanced shareholder returns As the new banknote issuance ended, working capital and short-term borrowing were reduced. Long-term borrowings 35.9 32.9 - 3.0 Reduced by scheduled repayment Bonds payable 24.2 24.2 0 - Total 86.8 82.1 - 4.7 Decreased Ownership equity ratio (%) 52.2% 52.9% + 0.7pt Rose due to a decrease in debt. A rating by Rating and Investment Information, Inc. D/E ratio (times) 0.38 0.36 - 0.02 Fell due to decrease in debt. D/E ratio = (short-term borrowings + long-term borrowings + bonds payable) / shareholder’s equity
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(billion yen) Progress during the interim period FY2024 FY2025 Gap Assessment Measures 7. Improving cash efficiency Accounts receivable 73.2 57.9 -15.3 〇 Debt collection is progressing smoothly Inventories 105.3 95.1 -10.2 〇 Decreased due to increased sales Accounts payable 22.5 19.3 -3.2 - Examining the impact of the revision to the Subcontract Act scheduled for January 2026 in Japan 1. Realizing revenue expansion with acquired companies 2. Realizing high profitability in the Americas, which is positioned as a growth engine 4. Strengthening shareholder returns 6. Optimizing the business portfolio 7. Improve efficiency by reducing operating capital, such as inventories and accounts receivable Actions to achieve the target: ROIC 19Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress 2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025)
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◆ CCC (Cash Conversion Cycle); Improved due to a decrease in inventories and accounts receivable. 20Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress Cash conversion cycle: Accounts receivable in days + inventories in days -accounts payable in days Accounts receivable turnover period: Average accounts receivable for two periods [(previous year-end + current year-end)/2] / current year’s net sales * 365 Inventory turnover period: Average inventories balance for two periods [(previous year-end + current year-end)/2] / current year’s net sales * 365 Accounts payable turnover period: Average accounts payable for two periods [(previous year-end + current year-end)/2] / current year’s net sales * 365
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4. Strengthening shareholder returns 6. Optimizing the business portfolio 7. Improve efficiency by reducing operating capital, such as inventories and accounts receivable 21Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress Actions to achieve the target: ROIC Progress during the interim period FY2025 Future direction 6-1. Business Downsizing/Exit Robot SI business Started considering a business exit Withdraw from business expansion and shift the direction to business exit due to the low profitability. Digital payment business Formulating an exit scheme We plan to exit from in-house digital payment services while minimizing impact on customers. Business in China Exit in Sales Completed liquidation of the local sales company (August 2025.) 6-2. Improving Profitability Biometric image recognition business Shift positioning from a business to a product Focus on image solutions tailored to existing customers in the financial institutions and retail industries. Domestic DX business Business pivot in progress Strengthening and accelerating Data Connecting Services by reallocating resources. 2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025)
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4. Strengthening shareholder returns 8. Optimization of total assets through working capital reduction and enhanced shareholder returns 9. Streamlining the Balance Sheet by reducing inventories, accounts receivable, and working capital 1. Realizing revenue expansion with acquired companies 2. Realizing high profitability in the Americas, which is positioned as a growth engine 22Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress Actions to achieve the target: ROA 2026 Medium-Term Management Plan KPI Actions (Announced on May 13, 2025) (billion yen) Progress during the interim period FY2024 FY2025 Gap Assessment MeasuresInterim period 8. Optimization of total assets 9. Streamlining the balance sheet Cash and deposits 325 518 +193 〇 Temporarily increase due to collection of accounts receivable. Expected to decrease toward year-end. Accounts receivable 732 579 -153 〇 Debt collection is progressing smoothly. Total assets 4,306 4,281 -25 〇 Further declines expected toward year-end.
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◆ Glory stock price trend (End of March 2024―September 2025) (%) Glory TOPIX 23Summary Financial Results Financial Forecast 2026 Medium-Term Management Plan: KPI Progress As of the end of March 2024 Stock price ¥2,840 Market capitalization ¥167.3 billion PBR 0.65 times As of the end of September 2025 Stock price ¥3,663 (+ ¥794) Market capitalization ¥215.8 billion (+ ¥46.8 billion) PBR 0.90 times (+0.25)
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FY2025 Interim period 2 Financial Results Yukiya Tanaka Executive Officer Executive General Manager, Management Strategy Headquarters
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Six Months Ended September 30 FY2024 FY2025 ￥ ￥ ￥ ￥ Maintenance Sevices Operating Income Net Income Attributable to Owners of Parent EBITDA 18.9 12.3% -12.8 6.8 4.4% -12.8 Exchange rate US$ 153 146 Euro 166 168 Ordinary Income 14.9 8.1% 5.9 3.8% 31.7 17.1% -40.3% -57.1% -0.6 -4.0% 7.8 4.2% 3.3 2.1% -4.5 -11.0% 100.0% -31.2 -16.9% 68.5 37.0% 61.0 39.7% -7.5 19.6 10.6% -65.2% Sales 185.0 (Billions of yen) 100.0% 153.8 Y-on-Y Ratio Ratio Consolidated Financial Results Year-on-year Sales Decreased due to a rebound in demand related to last year’s new banknote issuance, while overseas sales remained at the same level as the same period last year. Operating income Decreased due to a decline in sales of high-profit products and system modifications associated with new banknote issuance last year in Japan. Ordinary income and net income also decreased. *EBITDA = operating income(loss) + depreciation and amortization + goodwill amortization * 25Summary Financial Results Financial Forecast <Japanese GAAP>
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Factors Behind Operating Income 26Summary Financial Results Financial Forecast <Japanese GAAP> Sales – Decreased Domestic market sales decreased due to the termination of demand for hardware replacements and system modifications associated with new banknote issuance. Cost of Goods ratio – Decreased Improved maintenance costs in the U.S. SG&A expenses – Increased Cost increased in overseas subsidiaries. 19.6 -14 2.5 -1.3 6.8 Unit: Billion yen Interim-period FY2024 Decreased Cost of Goods ratio Decreased Sales Increased SG&A expenses 12.8 Operating margin 4.4% Operating margin 10.6% Interim-period FY2025
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Six months ended September 30 FY2024 FY2025 % % % % % % % % % % % % -31.0 153.8 -31.2 26.3 -15.3 3.3 185.0 3.6 +0.3 -36.6 16.3 +9.1 11.3 -5.0 -16.9Total Y-on-Y +0.3 -11.5 Others 0.196.8 -42.7 41.6 97.1 +0.3 15.4 Operating IncomeSales (Billions of yen) Overseas Market Financial Market Retail & Transportation Market Amusement Market 19.6 -0.2 5.5 8.9 5.226.9 FY2025FY2024 Six months ended September 30 Y-on-Y 6.8 -0.2 3.2 0.4 1.1 2.2 -65.2 -12.8 - 0.0 -41.8 -2.3 -94.6 -8.5 -78.1 -4.1 +1106.5 +2.1 Sales & Operating Income by Business Segment Overseas Sales remained flat year-on-year, supported by favorable sales in retail industry in the Americas and EMEA. Profitability has improved. Domestic Decrease in sales and operating income due to the termination of demands associated with the new banknote issuance. Goodwill amortization Goodwill amortization: ¥4.2 billion [Operating income before goodwill amortization: ¥11.0 billion] 27Summary Financial Results Financial Forecast <Japanese GAAP>
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Progress vs. initial plan Sales Operating income Progress vs. initial full-year plan: 45% Progress vs. initial full-year plan: 14% 0.0 5.0 10.0 15.0 20.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result 0.0 50.0 100.0 150.0 200.0 250.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result % pt % % % pt FY2024 FY2025 2.1 +1,106.5 Operating margin 0.1 2.3 +2.2 (Billions of Yen) Six months ended September 30 Y-on-Y FY2024 FY2025 Sales 0.3 +0.3 Sales ratio +11 Operating income 0.1 2.2 96.8 97.1 63% 23.7 24.2 22.8 21.5 22.8 27.3 32.1 33.8 24.4 28.2 1.9 4.2 4.7 0.3 1.8 - 15 - 13 - 11 -9 -7 -5 -3 -1 1 3 5 7 0 .0 2 0. 0 4 0. 0 6 0. 0 8 0. 0 2Q 3Q 4Q 1Q 2Q w/o Products Products Operating income 52% Overseas Market 28Summary Financial Results Financial Forecast <Japanese GAAP> (Billion yen) Summary Sales Results Flat year-on-year Backgrounds Sales in retail industry in the Americas and Europe increased Efforts Aiming to expand sales, focusing on large-scale business deals Operating income Results Increased year-on-year Backgrounds Profitability in the Americas recovered Efforts Continue to expand sales in key industry *Approximate (Billion yen)
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Americas EMEA Asia Total 39.5 -0.1 -4.5% -0.3% Y-on-Y USD Basis 44.4 45.3 +0.9 +2.0% +6.5% Six months ended September 30, 2024 Six months ended September 30, 2025 +0.7 +1.8% +6.2% (Billions of yen) 2.7 3.0 +0.3 +11.1% +17.1% 43.4 44.4 +1.0 +2.3% +6.9% +0.1 +0.5% +3.4%22.1 22.2 2.2 2.1 8.0 9.1 +1.1 +13.8% +24.5% 11.1 11.1 0.0 0.0% +4.4% -0.2 -9.1% -5.1%2.2 2.0 8.8 7.3 -1.5 -17.0% -14.2% 7.1 6.4 -0.7 -9.9% -6.8% -0.8 -47.1% -45.2%1.7 0.9 96.8 97.1 +0.3 +0.3% +4.8% 68.7 68.7 0.0 0.0% +3.9% +13.8% +24.5% 15.1 14.2 -0.9 -6.0% -1.9% 5 5.1 +0.1 +2.0% +6.9% +1.1 GGS Acrelec Flooid GGS Sitrade Acrelec Flooid GGS Acrelec GGS Sitrade Acrelec Flooid 8.0 9.1 40.2 Sales by Geographical Region 29Summary Financial Results Financial Forecast <Japanese GAAP>
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+6.2% +6.5% USD Basis(Billions of yen) Americas 44.4 45.3 +0.9 GGS 39.5 40.2 +0.7 Six months ended September 30, 2024 Six months ended September 30, 2025 2.7 3.0 +0.3 +17.1% Acrelec 2.2 2.1 -0.1 -0.3% Flooid +2.0% +1.8% -4.5% +11.1% Y-on-Y Americas Sales breakdownSales by market 24.6 22.2 19.7 23.0 FY2024 FY2025 Products w/o Products 22.6 24.0 19.5 19.1 2.2 2.1 FY2024 FY2025 F&B Financial Retail (billion yen) (billion yen) 44.4 45.3 Products Robust sales to the retail industry (CI series.) w/o Products Maintenance services for financial institutions were flat year-on-year. Maintenance service for retail industry and the F&B market were sluggish. F&B Sales were flat year-on-year due to an expansion of products lineup, although new store openings by major QSRs were delayed. Financial Sales of teller cash recyclers for financial institutions (GLR Series) were sluggish. Retail Sales of CI series were robust supported by large orders. 30Summary Financial Results Financial Forecast <Japanese GAAP> 44.4 45.3
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GGS 22.1 22.2 +0.1 +3.4% Acrelec 11.1 11.1 Sitrade 8.0 9.1 +1.1 0.0 +4.4% +24.5% Six months ended September 30, 2024 Six months ended September 30, 2025 USD Basis 44.4 +1.0 +6.9% -0.2 -5.1%2.2 2.0 (Billions of yen) EMEA 43.4 Flooid +2.3% +0.5% +13.8% 0.0% -9.1% Y-on-Y Sales breakdownSales by market 13.8 14.0 29.5 30.4 FY2024 FY2025 Products w/o Products 17.6 18.4 14.6 14.9 11.1 11.1 FY2024 FY2025 F&B Financial Retail EMEA Products Sales of TCR for financial institutions were robust in Italy. w/o Products Sales were flat year-on-year in the financial institutions and retail industry. F&B Flat year-on-year Financial Flat year-on-year; although large orders received in Italy, sales in other countries were sluggish. Retail Sales of the CI series to global retailers were steady (billion yen) (billion yen) 31Summary Financial Results Financial Forecast <Japanese GAAP> 43.4 44.4 43.4 44.4
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Acrelec 1.7 0.9 -0.8 -45.2% GGS 7.1 (Billions of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 USD Basis 6.4 -0.7 -6.8% Asia 8.8 7.3 -1.5 -14.2%-17.0% -9.9% -47.1% Y-on-Y Sales breakdownSales by market 3.5 3.1 5.3 4.1 FY2024 FY2025 Products w/o Products 1.3 1.2 5.8 5.1 1.7 0.9 FY2024 FY2025 F&B Financial Retail 8.8 7.3 Asia Products Sales were sluggish due to sales decreasing in financial institutions and retail industry in Southeast Asia. w/o Products Sales decreased due to sluggish maintenance in the F&B market. In some regions, sales exceeded the target. F&B Self-service kiosk sales in Japan were sluggish. Financial Sales in Southeast Asia are sluggish even though demands are continued. Retail Sales in Southeast Asia are sluggish even though demand continued. *Including Acrelec's sales in Japan (billion yen) (billion yen) 32Summary Financial Results Financial Forecast <Japanese GAAP> 8.8 7.3
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54% 59% 44% 39%EMEA 2.2 2.0 -0.2 Operating income Before goodwill amortization 0.7 0.2 -0.5 After goodwill amortization -0.4 -0.3 +0.1 (Billions of yen) Y-on-Y Sales +0.1 Americas 2.7 Six months ended September 30, 2024 Six months ended September 30, 2025 3.0 +0.3 5.0 5.1 15% 15% 74% 78% 11% 6%1.7 0.9 -0.8 Before goodwill amortization 0.4 -0.4 -0.8 0.0 Asia Operating income After goodwill amortization -0.9 -0.9 2.1 -0.1 Y-on-Y Sales -0.9 EMEA 11.1 11.1 0.0 (Billions of yen) Six months ended September 30, 2024 Six months ended September 30, 2025 Americas 2.2 15.1 14.2 Acrelec and Flooid Americas Sales were flat year on year due to an expansion of products lineup, although new store openings by major QSRs were delayed. EMEA Steady progress in key countries such as France AsiaSales were sluggish due to weak sales in Japan. AmericasSteady progress in securing orders from new and existing customers. Steady sales performance centered on the SaaS business. EMEA 33Summary Financial Results Financial Forecast <Japanese GAAP>
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% pt % % % pt FY2024 FY2025 Operating margin 19.3 7.1 -12.2 Sales -11.5 -42.7 Sales ratio -5 Operating income -4.1 -78.1 (Billions of Yen) Six months ended September 30 Y-on-Y FY2024 FY2025 26.9 15.4 15% 10% 5.2 1.1 3.1 3.7 3.8 3.6 3.7 10.9 11.7 8.0 3.0 5.0 2.3 2.4 1.2 0.2 0.9 - 16 .0 - 11 .0 - 6. 0 - 1. 0 4 .0 9 .0 1 4. 0 0 .0 1 0. 0 2 0. 0 3 0. 0 2Q 3Q 4Q 1Q 2Q w/o Products Products Operating income Progress vs. initial plan Sales Operating income Progress vs. initial full-year plan: 42% Progress vs. initial full-year plan: 73% Summary Sales Results Decreased year-on-year Backgrounds The rebound effect from large orders in the previous fiscal year Efforts Expanding sales of self-service solutions and peripheral devices Operating income Results Declined year-on-year Backgrounds The rebound effect from large orders in the previous fiscal year Efforts Expanding sales of self-service solutions and peripheral devices *Approximate Financial Market 34Summary Financial Results Financial Forecast <Japanese GAAP> 0.0 10.0 20.0 30.0 40.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result 0.0 0.5 1.0 1.5 2.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result (Billion yen)(Billion yen)
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Progress vs. initial plan Sales Operating income Progress vs. initial full-year plan: 43% Progress vs. initial full-year plan: 40% 0.0 0.5 1.0 1.5 1Q 1-2Q 1-3Q * 1-4Q Plan Result 0.0 20.0 40.0 60.0 80.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result % pt % % % pt FY2024 FY2025 Operating margin 21.4 1.5 FY2025 Sales -15.3 -36.6 Sales ratio -5 Operating income -8.5 -94.6 (Billions of Yen) Six months ended September 30 Y-on-Y FY2024 -19.9 41.6 26.3 8.9 0.4 5.3 4.2 3.9 4.2 3.9 12.2 9.8 10.1 8.5 9.6 2.3 0.8 0.5 0.2 0.2 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 8 0 .0 1 0. 0 2 0. 0 3 0. 0 2Q 3Q 4Q 1Q 2Q w/o Products Products Operating income 22% 17% Summary Sales Results Decreased year-on-year Backgrounds The termination of demand associated with the new banknote issuance Efforts Expanding sales of self-service solutions to address workforce shortages Operating income Results Decreased year-on-year Backgrounds A decrease in sales of hardware replacements and system modifications associated with the new banknote issuance, and key products. Efforts Expanding solution sales and improving profitability (Billion yen) (Billion yen) *Approximate Retail and Transportation Market 35Summary Financial Results Financial Forecast <Japanese GAAP>
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Progress vs. initial plan Sales Operating income Progress vs. initial full-year plan: 59% Progress vs. initial full-year plan: 91% 0.0 1.0 2.0 3.0 4.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result 0.0 5.0 10.0 15.0 20.0 1Q 1-2Q 1-3Q * 1-4Q Plan Result % pt % % % pt FY2024 FY2025 FY2024 FY2025 Operating margin 33.7 28.3 -5.4 Sales -5.0 -31.0 Sales ratio -2 Operating income -2.3 -41.8 (Billions of Yen) Six months ended September 30 Y-on-Y 16.3 11.3 5.5 3.2 0.8 0.5 0.4 0.4 0.4 6.9 6.2 4.1 4.8 5.5 2.3 2.1 0.9 1.4 1.7 -6 -5 -4 -3 -2 -1 0 1 2 3 4 5 0 .0 2 .0 4 .0 6 .0 8 .0 1 0. 0 1 2. 0 2Q 3Q 4Q 1Q 2Q w/o Products Products Operating income 9% 7% Amusement Market 36Summary Financial Results Financial Forecast <Japanese GAAP> (Billion yen) (Billion yen) Summary Sales Results Decreased year-on-year Backgrounds Sales declined in areas related to last year's new banknote issuance, along with a drop in card system sales. Efforts Monitoring demand for new standards in smart-pachinko machines Operating income Results Decreased year-on-year Backgrounds Sales decreased related to last year's new banknote issuance and card system Efforts Maintain and improve profitability for smart amusement machine-related products *Approximate
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FY2025 Full year 3 Financial Forecast Yukiya Tanaka Executive Officer; Executive General Manager, Management Strategy Headquarters
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Business Environment for FY2025 Overseas market Americas Financial institutions and major retailers are keen to make capital investment and demand remains steady. In the food and beverage industry, although there is some effect from U.S. trade policy, the impact on full- year forecasts is minimal. EMEA Demand for hardware replacements continue at major retailers. Asia Despite the need for labor-saving measures, future uncertainty has led to a slightly cautious investment stance. Financial market With positive interest rates, the appetite for capital investment is strong. Increasing demand for new products and services that support small-scale store operations. Retail and transportation market Labor shortages in retail and restaurants are prominent, and demand for self-service products remains strong. Amusement market Demand for smart-slot machine related products has peaked. Monitor demand related to newly approved regulation for smart-pachinko machines. 38Summary Financial Results Financial Forecast
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Full Year FY2025 Aug,7 Forecast (B) Nov, 10 Forecast (C) ￥ ￥ ￥ ￥ 10.0 11.5 3.4% -5.6 +1.5 (Billions of yen) Y-o-Y (C)-(A) GAP (C)-(B)RatioFY2024 (A) Ratio Net Sales 369.0 35.9% 100.0% 340.0 340.0 100.0% -29.0 0.0 124.0 124.0 36.5% -8.6 0.0Maintenance Sevices 132.6 Operating Income 36.7 9.9% 21.5 24.0 7.1% -12.7 +2.5 19.5 22.0 6.5% -8.0 +2.5 Net Income Attributable to Owners of Parent Ordinary Income 30.0 8.1% 17.1 4.6% Exchange rate US$ 153 145 16.5%EBITDA 60.8 45.3 48.1 14.1% Euro 164 160 -12.7 +2.8 Sales Sales are expected to decrease year-on-year due to the rebound effect of hardware replacements and system modifications associated with last year's new banknote issuance in Japan. However, sales are increasing in the retail and food/beverage industry in the U.S. and EMEA. Operating income A recovery in profitability the overseas market is expected to start from the second half of FY2025. Sales decrease year-on-year due to the rebound effect of hardware replacements and system modifications associated with last year's new banknote issuance in the domestic market. Financial Forecast for FY2025 IFRS (Billion yen) FY2025 Forecast Revenue 340.0 Operating profit 29.5 Profit attributable to owners of parent 17.5 Basic earnings per share 318.42 yen* 39Summary Financial Results Financial Forecast <Japanese GAAP> *EBITDA = Operating income(loss) + Depreciation and amortization + Goodwill amortization
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Full-year Ratio FY2025 Ratio OPM Aug,7 Forecast (B) Nov, 10 Forecast (C) OPM Sales Operationg Income Sales Operationg Income Sales Operationg Income Sales Operationg Income Sales Operationg Income Sales Operationg Income Amusement Market 27.7 7.5% 5.6% -29.0 0.0 340.0 Others 7.0 1.9% 2.1% 0.0 0.0 7.0 -0.2 - Total 9.1 4.3% 6.9% +5.9 0.0 23.0 Financial Market 54.4 14.7% 10.9% -17.4 -8.8 -8.7 0.0 19.0 8.6 31.0% 29.5% -3.0 Increase/ Decrease (C) - (A) Increase/ Decrease (C) - (B) IFRS FY2025 (Forecast) FY2024 (A) Overseas Market 210.0 56.9% 63.5% +6.0 0.0 216.0 - -0.3 0.0 -0.5 0.0 37.0 8.9 16.4% 6.8% -6.4 +1.0 1.2 Retail & Transportation Market 69.7 18.9% 17.9% -8.7 0.0 61.0 10.2 14.6% 2.3% 36.7 9.9% 7.1% -12.7 +2.5 29.5 216.0 15.0 37.0 1.5 61.0 1.0 19.0 4.5 7.0 -0.5 340.0 21.5 216.0 15.0 37.0 2.5 +1.1 5.3 +0.4 0.5 61.0 1.4 7.0 -0.5 340.0 24.0 (Billions of yen) 369.0 100.0% 100.0% 19.0 5.6 Overseas market Sales and operating income are expected to increase by capturing new customers/projects in the retail and food/beverage industry. Financial market Sales and operating income are expected to decrease due to the completion of key product replacements, while orders for non-cash solutions and peripheral devices will maintain sales at high level. Retail and transportation market Sales and operating income are expected to decrease due to the termination of hardware replacements and system modifications associated with last year's new banknote issuance in Japan. Amusement market Demand for the card system are expected to temporarily decline due to shift of sales from smart-slot machines to smart-pachinko machines. * Adjusted to reflect changes under Japanese GAAP Sales & operating Income by Business Segment Financial Forecast for FY2025 * * * 40Summary Financial Results Financial Forecast <Japanese GAAP> *
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Full-year 216.0 150.0 17.0 36.0 13.0 +0.4 +2.4% +2.8 +8.4% +7.4% 33.2 148.1 USD Basis +10.6% Acrelec +16.5% Flooid 7.0 +11.8% (Billions of yen) 16.6 +7.7% 90.0 GGS Sitrade Acrelec +14.1% Flooid 12.1 +12.9% +8.7% Acrelec 23.1 +13.6% -6.6% Acrelec +12.7% +5.9% +6.6% +8.2%Total 210.0 25.0 5.5 17.0 13.0 4.0 87.5 19.1 Americas Sitrade 3.7 Asia Flooid 5.0 +10.1% +7.7% -11.3% 106.0 91.5 7.0 7.5 93.0 GGS 15.4 GGS 16.6 6.3 45.3 GGS +14.4% 100.8 EMEA 45.5 17.0 FY2024 FY2025 (Forecast) +0.9 Y-on-Y +5.2 +5.2% +4.0 +4.6% +0.7 +11.1% +0.5 +7.1% +3.0 +3.3% +0.2 +0.4% +0.4 +2.4% +1.9 +8.2% +0.5 +10.0% -2.1 -11.0% -2.4 -15.6% +0.3 +8.1% +6.0 +2.9% +1.9 +1.3% Full Year FY2024 FY2025 (Forecast) 58% 58% 41% 42% Americas Sales After goodwill amortization EMEA Operating income Before goodwill amortization Y-on-Y +0.9 (Billions of yen) 1.9 -0.8 0.6 -0.8 +0.5 5.0 5.5 +0.5 2.7 7.0 7.5 1.4 12.1 13.0 Full Year FY2024 FY2025 (Forecast) 19% 19% 70% 69% 11% 11% +0.33.7 23.1 +2.8 Y-on-Y Operating income Before goodwill amortization After goodwill amortization +1.0 +1.0 (Billions of yen) 25.0 +1.9 4.0 1.5 2.5 0.7 1.7 Americas 7.0 +0.76.3 Sales EMEA Asia 33.2 36.0 Financial Forecast for FY2025 41Summary Financial Results Financial Forecast <Japanese GAAP>
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Notes 1. The forward-looking statements: including operational forecasts, contained in this document are based on the information currently available to the company and on certain assumptions which the company regards as legitimate. Results may differ from forecasts due to changes in the economic conditions in the company's principal markets, demand for the company's products, exchange rate fluctuations, impacts of changes in regulations, and accounting principles and practices. The forecasts may change without prior notice unless required by laws. 2. Amounts are rounded down to the nearest ten million yen for the calculation of year-on-year percentage difference and composition ratios.