Interim report
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< Caution > This document is a translation of the original Japanese document and is only for reference purposes . In the event of any discrepancy between this translated document and the original Japanese document , the latter shall prevail . FASF Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31 , 2027 August 6 , 2026 Company name Securities code Representative Contact Person Japan Elevator Service Holdings Co. , Ltd. 6544 Stock Exchange listing : Tokyo URL https://www.jes24.co.jp/en/ ( Title ) President and Representative Director CEO ( Name ) Katsushi Ishida ( Title ) Director , Deputy President CFO ( Name ) Kimihiko Imamura Tel : + 81-3-6262-1624 Scheduled date of dividend payment Preparation of supplementary materials for financial results : Yes Financial results meeting : No ( Millions of yen , rounded down to the nearest million ) 1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31 , 2027 ( from April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( Cumulative ) ( Percentage figures represent changes from the same period of the previous year ) Operating profit Net sales Ordinary profit Profit attributable to owners of parent Millions of yen % Millions of yen % Millions of yen % Millions of yen % Three Months Ended June 2026 15,778 17.5 3,044 21.5 3,024 20.3 1,924 19.6 Three Months Ended June 2025 13,433 16.4 2,505 30.2 2,513 29.2 1,608 28.0 ( Note ) Comprehensive income Three months ended June 2026 : 1,942 million yen ( 20.8 % ) Earnings per share Diluted earnings per share Yen Yen Three Months Ended June 2026 10.76 Three Months Ended June 9.03 9.00 2025 Three months ended June 2025 : 1,607 million yen ( 25.6 % ) ( Note ) The Company conducted a two - for - one stock split of common stock on October 1 , 2025. Earnings per share and diluted earnings per share are calculated assuming that the stock split was conducted at the beginning of the previous fiscal year . ( 2 ) Consolidated Financial Position Total assets Net assets Equity ratio As of June 30 , 2026 As of March 31 , 2026 ( Reference ) Shareholders ' equity Millions of yen 39,106 40,126 Millions of yen % 23,182 24,994 58.2 61.3 As of June 30 , 2026 : 22,766 million yen As of March 31 , 2026 : 24,587 million yen 2. Dividends Annual dividend per share End of fiscal year Total amount Yen Yen 21.00 Yen 21.00 Fiscal year ended March 2026 End of 1st quarter End of 2nd quarter End of 3rd quarter Yen Yen Fiscal year ending March 2027 Fiscal year ending March 2027 ( forecast ) ( Notes ) 1. Revision of dividend forecast from the latest announcement : None 2. The year - end dividend for the fiscal year ending March 31 , 2027 is pending at this time . 3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31 , 2027 ( from April 1 , 2026 to March 31 , 2027 ) ( Percentage figures are changes from the previous year ) Full year Profit attributable to Net sales Millions of yen 65,000 % 12.8 Operating profit Millions of yen 13,000 Ordinary profit % Millions of yen 18.1 13,000 % 18.1 owners of parent Millions of yen Earnings per share 8,200 % 12.0 Yen 45.87 ( Note ) Revision of earnings forecast from the latest announcement : None i
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ii * Notes (1) Significant changes in scope of consolidation during the current quarter: None Newly added: -, Excluded: - (2) Adoption of accounting methods specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatements (i) Changes in accounting policies due to revision of accounting standards : None (ii) Changes in accounting policies other than (i) : None (iii) Changes in accounting estimates : None (iv) Restatement : None (4) Number of shares issued and outstanding (common stock) (i) Number of shares outstanding at the end of period (including treasury shares) 1Q FY Mar 2027 178,784,000 shares Year ended March 2026 178,784,000 shares (ii) Treasury shares at the end of the period 1Q FY Mar 2027 20,082 shares Year ended March 2026 20,082 shares (iii) Average number of shares during the period (cumulative quarterly period) 1Q FY Mar 2027 178,763,918 shares 1Q FY Mar 2026 178,114,369 shares (Note) The Company conducted a two-for-one stock split of common stock on October 1, 2025. Number of shares issued and outstanding (common stock) is calculated assuming that the stock split was conducted at the beginning of the previous fiscal year. Review of the attached consolidated quarterly financial statements by a certified public accountant or an audit firm: None Explanation of appropriate use of earnings forecasts and other special notes (Cautionary statement regarding forward-looking statements, etc.) The forward-looking statements in this document are based on information currently available to the Co mpany and certain assumptions that the Company deems reasonable, and are not intended as a promise by the Company that t hey will be achieved. Actual results may differ significantly due to vari ous factors. Please refer to “1. Qualitative information on the current quarterly financial results (3) Explanation of consolidated earnings forecasts and other forward-looking information” on page 2 of the attached materials for the assumptions used in forecasting business results and precautions regarding the use of business results forecasts.
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- 1 - Table of Contents of the Attachments 1. Qualitative Information on the Current Quarterly Financial Results ........................................................................................ 2 (1) Explanation of Results of Operation .................................................................................................................................... 2 (2) Explanation of Financial Position ........................................................................................................................................ 2 (3) Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Information .............................................. 2 2. Quarterly Consolidated Financial Statements and Major Notes ............................................................................................... 3 (1) Quarterly Consolidated Balance Sheets ............................................................................................................................... 3 (2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income.......... 5 (3) Notes to Quarterly Consolidated Financial Statements ....................................................................................................... 7 (Notes to the Segment Information) .................................................................................................................................. 7 (Notes in the Event of Significant Changes in Shareholders’ Equity) .............................................................................. 7 (Notes to Going Concern Assumption) ............................................................................................................................. 7 (Notes to the Quarterly Consolidated Cash Flow Statement) ........................................................................................... 7 (Significant Changes in Scope of Consolidation During the Current Quarter) ................................................................. 7 3. Other .......................................................................................................................................................................................... 7
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- 2 - 1.Qualitative Information on the Current Quarterly Financial Results (1) Explanation of Results of Operation During the first quarter of the current fiscal year , the economic trends in Japan showed a moderate re covery backed by the improvement of employment and compensation conditions. However, the outlook remains uncertain due to t he effects of rising prices, and companies’ needs for cost reduction are expected to increase more than ever. In the maintenance for elevator and other equipment industry, the market is on a gradual expansion trend due to a steady increase in the number of condominium units in stock and the supply of office buildings. In this market environment, the Group has been work ing to respond to the cost reduction needs of compa nies by switching contracts to independent maintenance companies, imp roving its nationwide network, acquiring and traini ng personnel to strengthen quality and safety, and reinforcing its sales structure. The Group continues to improve pro ductivity in order to accelerate the net increase in the number of contra cts, as well as to improve production capacity and profitability in the modernization business. In the maintenance and repair business, the number of units under maintenance contracts remained strong, and net sales for the first quarter of the current fiscal year totaled 9,186 million yen (up 10.5% YoY). In the modernization business, net sales for the first quarter of the current consolidated fiscal year were 6,246 million yen (up 30.4% YoY) due to the reinforcement of the sales structure in preparation for business expansion and the strengthening of proposals for properties with suspended parts supply. As a result of the above, consolidated business res ults for the first quarter of the current fiscal ye ar were as follows: net sales were 15,778 million yen (up 17.5% YoY), operating p rofit was 3,044 million yen (up 21.5% YoY), ordinar y profit was 3,024 million yen (up 20.3% YoY), and profit attributable to owners of parent was 1,924 million yen (up 19.6% YoY). (2) Explanation of Financial Position (Assets) Total assets at the end of the first quarter of the current fiscal year amounted to 39,106 million yen, a decrease of 1,020 million yen from the end of the previous fiscal year. This was mainly due to an increase of 273 million yen in cash and deposits, which was offset by a decrease of 646 million yen in note s and accounts receivable - trade, and contract ass ets, and a decrease of 454 million yen in investments and other assets. (Liabilities) Total liabilities at the end of the first quarter of the current fiscal year amounted to 15,923 million yen, an increase of 791 million yen from the end of the previous fiscal year. This was mainly due to an increase of 3,174 million yen in short-term borrowings, which was offset by a decrease of 1,811 million yen in income taxes payable. (Net assets) Net assets at the end of the first quarter of the current fiscal year were 23,182 million yen, a decrease of 1,811 million yen from the end of the previous fiscal year. This was mainly due to an increase in retained earnings resulting from the recording of 1,924 million yen in profit attributable to owners of parent, which was offset by a decrease of 3,754 million yen due to the payment of dividends. (3) Explanation of Consolidated Earnings Forecasts and Other Forward-Looking Information The consolidated earnings forecast for the fiscal y ear ending March 31, 2027 remains unchanged from th e full-year earnings forecast announced on May 14, 2026. The forecasts are based on currently available information, but actual results may differ from the forecasts due to various factors.
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- 3 - 2. Quarterly Consolidated Financial Statements and Major Notes (1) QUARTERLY CONSOLIDATED BALANCE SHEETS (Unit: millions of yen) Previous fiscal year as of March 31, 2026 First quarter of the current fiscal year as of June 30, 2026 Assets Current assets Cash and deposits 4,171 4,445 Notes and accounts receivable - trade, and contract assets 8,760 8,114 Work in process 385 378 Raw materials and supplies 7,139 6,995 Other 717 770 Allowance for doubtful accounts (15) (14) Total current assets 21,160 20,688 Non-current assets Property, plant and equipment Buildings and structures, net 5,772 5,719 Tools, furniture and fixtures, net 4,570 4,632 Other, net 1,654 1,655 Total property, plant and equipment 11,997 12,007 Intangible assets Goodwill 1,618 1,549 Other 2,621 2,586 Total intangible assets 4,240 4,136 Investments and other assets Other 2,779 2,334 Allowance for doubtful accounts (50) (59) Total investments and other assets 2,728 2,274 Total non-current assets 18,966 18,418 Total assets 40,126 39,106 Liabilities Current liabilities Accounts payable - trade 2,450 2,521 Short-term borrowings 1,963 5,137 Current portion of long-term borrowings 873 801 Income taxes payable 2,422 610 Provision for bonuses 1,343 664 Other 3,994 4,195 Total current liabilities 13,046 13,930 Non-current liabilities Long-term borrowings 145 － Retirement benefit liability 1,378 1,427 Asset retirement obligations 483 490 Other 78 75 Total non-current liabilities 2,085 1,992 Total liabilities 15,132 15,923
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- 4 - (Unit: millions of yen) Previous fiscal year as of March 31, 2026 First quarter of the current fiscal year as of June 30, 2026 Net assets Shareholders’ equity Share capital 2,506 2,506 Capital surplus 2,599 2,599 Retained earnings 19,453 17,623 Treasury shares (30) (30) Total shareholders’ equity 24,529 22,699 Accumulated other comprehensive income Valuation difference on available-for-sale securities 4 2 Foreign currency translation adjustment 5 16 Remeasurements of defined benefit plans 48 47 Total accumulated other comprehensive income 58 66 Non-controlling interests 406 416 Total net assets 24,994 23,182 Total liabilities and net assets 40,126 39,106
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- 5 - (2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income (QUARTERLY CONSOLIDATED STATEMENTS OF INCOME) (Unit: millions of yen) First three months of the previous fiscal year (from April 1, 2025 to June 30, 2025) First three months of the current fiscal year (from April 1, 2026 to June 30, 2026) Net sales 13,433 15,778 Cost of sales 8,134 9,652 Gross profit 5,298 6,126 Selling, general and administrative expenses 2,793 3,082 Operating profit 2,505 3,044 Non-operating income Rental income 8 7 Other 21 24 Total non-operating income 29 32 Non-operating expenses Interest expenses 10 11 Compensation expenses － 27 Other 10 12 Total non-operating expenses 21 51 Ordinary profit 2,513 3,024 Extraordinary income Gain on sale of non-current assets 1 0 Total extraordinary income 1 0 Extraordinary losses Loss on retirement of non-current assets 0 1 Other 0 0 Total extraordinary losses 1 2 Profit before income taxes 2,514 3,023 Income taxes - current 563 597 Income taxes - deferred 324 493 Total income taxes 887 1,090 Profit 1,626 1,932 Profit attributable to non-controlling interests 18 8 Profit attributable to owners of parent 1,608 1,924
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- 6 - (QUARTERLY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME) (Unit: m illions of yen) First three months of the previous fiscal year (from April 1, 2025 to June 30, 2025) First three months of the current fiscal year (from April 1, 2026 to June 30, 2026) Profit 1,626 1,932 Other comprehensive income Valuation difference on available-for-sale securities 1 (1) Foreign currency translation adjustment (19) 12 Remeasurements of defined benefit plans, net of tax (0) (1) Total other comprehensive income (19) 10 Comprehensive income 1,607 1,942 Comprehensive income attributable to Comprehensive income attributable to owners of parent 1,598 1,932 Comprehensive income attributable to non-controlling interests 9 10
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- 7 - (3) Notes to Quarterly Consolidated Financial Statements (Notes to the Segment Information) This information is omitted because the Group has only one segment, the maintenance business. (Notes in the Event of Significant Changes in Shareholders’ Equity) Not applicable. (Notes to Going Concern Assumption) Not applicable. (Notes to the Quarterly Consolidated Cash Flow Statement) There is no quarterly consolidated statements of cash flows for the first three months of the fiscal year. Depreciation (including amortization of intangible assets excluding goodwill) and amortization of goodwill for the first three months of the current fiscal year are as follows: (Unit: millions of yen) First three months of the previous fiscal year (from April 1, 202 5 to June 30, 2025 ) First three months of the current fiscal year (from April 1, 2026 to June 30, 2026 ) Depreciation 355 426 Amortization of goodwill 67 69 (Significant Changes in Scope of Consolidation During the Current Quarter) Not applicable. 3. Other Not applicable.