Interim report
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HORIBA Summary of Consolidated Financial Statements for the Six Months Ended June 30 , 2026 ( Japanese GAAP ) [ Note : This document has been translated from a part of the Japanese original for reference purposes only . In the event of any discrepancy between this translated document and the Japanese original , the original shall prevail . ] Company name Listing code Representative Contact HORIBA , Ltd. 6856 Masayuki Adachi , President Toyota Uenaka , Department Manager , Finance and Accounting Dept. Scheduled date to file semi - annual securities report : Scheduled date of start of interim dividend payment : Preparation of supplementary material on financial results : Holding of financial results briefing : August 10 , 2026 August 31 , 2026 Yes August 7 , 2026 Listed stock exchanges : Tokyo URL : https://www.horiba.com/int/ TEL : ( 81 ) 75-313-8121 Yes ( for institutional investors and analysts ) ( Figures have been rounded down to the nearest million yen ) 1. Consolidated Results for the Six Months Ended June 30 , 2026 ( January 1 , 2026 - June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( Percentages represent changes from the corresponding in the previous year ) Net Income Attributable to HORIBA , Ltd.'s Shareholders Net Sales Operating Income Ordinary Income Millions of yen Six Months Ended 6/30/26 Six Months Ended 6/30/25 ( Note ) Comprehensive income : 179,853 % 20.8 148,943 4.4 Millions of yen % 30,488 39.3 21,893 17.6 Millions of yen 31,419 22,529 % 39.5 Millions of yen % 21,806 37.5 16.9 15,859 20.6 FY2026Q2 31,927 million yen ( 362.7 % ) FY2025Q2 Net Income Attributable to HORIBA , Ltd.'s Shareholders per Share 6,900 million yen ( -79.6 % ) Net Income Attributable to HORIBA , Ltd.'s Shareholders per Share ( Diluted ) Six Months Ended 6/30/26 Six Months Ended 6/30/25 ( 2 ) Consolidated Financial Position Yen 519.15 377.91 Yen 516.80 376.12 As of 6/30/26 As of 12/31/25 Total Assets Net Assets Shareholders ' Equity Ratio Millions of yen Millions of yen % 543,203 518,279 67.1 67.1 365,264 348,640 ( Reference ) Net assets excluding subscription rights to shares and non - controlling interests : As of 6/30/26 2. Dividends 364,637 million yen As of 12/31/25 347,981 million yen Dividend per Share FY 12/2025 FY 12/2026 FY 12/2026 ( Forecast ) First Quarter Yen Second Quarter Third Quarter Year End Total Yen Yen 80.00 Yen 370.00 Yen 450.00 150.00 640.00 790.00 ( Note ) Changes in the latest dividend forecasts released : Yes Total year - end dividend for fiscal year ending December 2026 ( Forecast ) of 640 yen per share : Year - end ordinary dividend of 210 yen , special dividend of 190 yen and commemorative dividend of 240 yen to mark the milestone of the Company's market capitalization exceeding 1 trillion yen . 3. Consolidated Forecasts for the Year Ending December 31 , 2026 ( January 1 , 2026 - December 31 , 2026 ) ( Percentages represent changes from the same period in the previous year ) Net Income Attributable Net Sales Operating Income Ordinary Income Net Income Attributable to HORIBA , Ltd.'s Shareholders to HORIBA , Ltd.'s Shareholders per Share Full Year Millions of yen % Millions of yen Millions of yen 382,000 14.7 70,000 71,000 ( Note ) Changes in the latest business forecasts released : Yes % 32.0 % 30.9 Millions of yen 50,000 % 34.8 Yen 1,189.87 1 HORIBA , Ltd. ( Consolidated )
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2 HORIBA, Ltd. (Consolidated) Notes (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 3 companies Pristine Deeptech Private Limited [India] HORIBA Australia Pty Ltd [Australia] HORIBA Middle East Limited [the United Arab Emirates] (2) Application of the accounting method specific to interim consolidated financial statements: Yes (3) Changes in accounting policies, accounting estimates and retrospective restatement (ⅰ) Changes in accounting policies associated with revision of accounting standards: None (ⅱ) Changes in accounting policies arising from other than the above: None (ⅲ) Changes in accounting estimates: None (ⅳ) Retrospective restatement: None (4) Number of shares outstanding (common stock) (ⅰ) Shares issued (including treasury stock) June 30, 2026 42,233,252 December 31, 2025 42,233,252 (ⅱ) Treasury stock June 30, 2026 211,697 December 31, 2025 237,318 (ⅲ) Average number of outstanding shares Jan. - Jun., 2026 42,003,482 Jan. - Jun., 2025 41,967,318 Note 1. This consolidated financial report is not subject to review by certified public accountants or accounting firms. Note 2. Appropriate use of business forecasts and other important information The forecasts of dividend amount and business performance contained in this report have been made based on certain future assumptions, outlooks, and plans which are available at the HORIBA Group as of August 7, 2026. However, due to risks and various uncertain factors such as future business operation policies, changes in the economic environment in Japan and overseas, fluctuation of currency rates, it is possible that actual performance would vary considerably from the forecasts.
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3 HORIBA, Ltd. (Consolidated) 1. Consolidated Financial Statements and Notes (1) Consolidated Balance Sheets Amount: Millions of yen FY2025 (As of December 31, 2025) FY2026 First Half (As of June 30, 2026) Assets Current Assets: Cash and bank deposits 162,339 169,311 Notes and accounts receivable - trade, and contract assets 82,192 82,836 Marketable securities 2,228 1,628 Merchandise and finished goods 31,652 30,877 Work in process 24,325 29,751 Raw materials and supplies 38,765 38,212 Other current assets 12,306 14,741 Allowance for doubtful accounts (1,580) (1,773) Total Current Assets 352,229 365,584 Fixed Assets: Property, Plant and Equipment: Buildings and structures, net 62,833 74,953 Machinery, equipment and vehicles, net 19,491 20,239 Land 22,333 22,439 Construction in progress 21,734 12,943 Other property, plant and equipment, net 5,753 5,972 Total Property, Plant and Equipment 132,147 136,548 Intangibles: Goodwill 1,984 1,995 Software 861 971 Leasehold interests in land 1,419 1,452 Other intangibles 2,179 2,076 Total Intangibles 6,445 6,495 Investments and Other Non-Current Assets: Investment securities 17,126 23,687 Retirement benefit asset 2,855 2,939 Deferred tax assets 5,975 6,054 Other investments and other assets 1,553 1,941 Allowance for doubtful accounts (53) (48) Total Investments and Other Non-Current Assets 27,457 34,574 Total Fixed Assets 166,050 177,619 Total Assets 518,279 543,203
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4 HORIBA, Ltd. (Consolidated) Amount: Millions of yen FY2025 (As of December 31, 2025) FY2026 First Half (As of June 30, 2026) Liabilities Current Liabilities: Trade notes and accounts payable 19,595 22,426 Short-term loans payable 12,189 8,901 Current portion of bonds 15,000 15,000 Accounts payable - other 25,755 23,430 Accrued income taxes 5,554 9,549 Contract liabilities 23,575 26,311 Accrued bonuses to employees 3,438 2,084 Accrued bonuses to directors and corporate auditors - 518 Reserve for product warranty 3,643 3,767 Provision for business restructuring 1,219 955 Provision for environmental measures 320 - Other current liabilities 7,686 11,918 Total Current Liabilities 117,978 124,864 Non-Current Liabilities: Corporate bonds 15,000 15,000 Long-term loans payable 24,294 23,984 Provision for environmental measures 44 44 Deferred tax liabilities 866 2,287 Retirement benefit liability 2,366 2,606 Other non-current liabilities 9,088 9,152 Total Non-Current Liabilities 51,660 53,074 Total Liabilities 169,639 177,939 Net Assets Shareholders' Equity Common stock 12,011 12,011 Capital surplus 18,624 18,637 Retained earnings 267,469 273,737 Treasury stock (2,402) (2,143) Total Shareholders' Equity 295,703 302,242 Accumulated Other Comprehensive Income Net unrealized holding gains or losses on securities 8,622 13,111 Foreign currency translation adjustments 42,725 48,446 Remeasurements of defined benefit plans 930 837 Total Accumulated Other Comprehensive Income 52,278 62,395 Subscription Rights to Shares 621 584 Non-Controlling Interests 37 41 Total Net Assets 348,640 365,264 Total Liabilities and Net Assets 518,279 543,203
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5 HORIBA, Ltd. (Consolidated) (2) Consolidated Statements of Income and Consolidated Comprehensive Income Statements (Consolidated Statements of Income) Amount: Millions of yen FY2025 First Half (Six Months Ended June 30, 2025) FY2026 First Half (Six Months Ended June 30, 2026) Net Sales 148,943 179,853 Cost of Sales 82,230 99,030 Gross Income 66,713 80,822 Selling, General and Administrative Expenses 44,820 50,334 Operating Income 21,893 30,488 Non-Operating Income Interest income 1,117 1,212 Dividend income 189 221 Subsidy income 253 100 Other 134 172 Total Non-Operating Income 1,695 1,706 Non-Operating Expenses Interest expenses 414 476 Foreign exchange losses 468 211 Other 176 87 Total Non-Operating Expenses 1,059 775 Ordinary Income 22,529 31,419 Extraordinary Gain Gain on sales of fixed assets 36 19 Reversal of business restructuring expenses - 74 Total Extraordinary Gain 36 94 Extraordinary Losses Loss on sales of fixed assets 0 0 Loss on disposal of fixed assets 79 53 Business restructuring expenses - 287 Retirement benefit expenses - 94 Total Extraordinary Losses 79 436 Income before Income Taxes 22,486 31,077 Income taxes (current) 6,524 9,893 Income taxes (deferred) 100 (622) Total Income Taxes 6,624 9,271 Net Income 15,862 21,806 Profit (loss) attributable to non-controlling interests 2 0 Net Income Attributable to HORIBA Ltd.'s Shareholders 15,859 21,806
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6 HORIBA, Ltd. (Consolidated) (Consolidated Statements of Comprehensive Income) Amount: Millions of yen FY2025 First Half (Six Months Ended June 30, 2025) FY2026 First Half (Six Months Ended June 30, 2026) Net Income 15,862 21,806 Other Comprehensive Income Net unrealized holding gains or losses on securities (377) 4,489 Foreign currency translation adjustments (8,225) 5,724 Remeasurements of defined benefit plans (50) (93) Share of other comprehensive income of entities accounted for using equity method (308) - Total Other Comprehensive Income (8,961) 10,121 Comprehensive Income 6,900 31,927 (Breakdown of comprehensive income) Comprehensive income attributable to HORIBA Ltd.'s Shareholders 6,897 31,923 Comprehensive income attributable to non-controlling interests 2 4
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7 HORIBA, Ltd. (Consolidated) (3) Consolidated Statements of Cash Flows Amount: Millions of yen FY2025 First Half (Six Months Ended June 30, 2025) FY2026 First Half (Six Months Ended June 30, 2026) Cash Flows from Operating Activities: Income before income taxes 22,486 31,077 Depreciation expense 6,297 7,383 Amortization of goodwill 243 304 Increase (decrease) in allowance for doubtful accounts (1,095) 136 Increase (decrease) in provision for environmental measures - (320) Increase (decrease) in provision for business restructuring - (273) Increase (decrease) in retirement benefit liability 107 238 Interest and dividend income (1,307) (1,433) Interest expense 414 476 Foreign exchange losses (gains) 13 101 Loss (gain) on sales of fixed assets (36) (19) Loss on disposal of fixed assets 79 53 Decrease (increase) in notes and accounts receivable - trade, and contract assets 10,970 1,300 Decrease (increase) in inventories (2,431) (2,540) Increase (decrease) in trade notes and accounts payable (1,276) 1,850 Other, net 2,959 328 Subtotal 37,425 38,664 Interest and dividends received 1,296 1,433 Interest paid (406) (479) Income taxes (paid) refund (8,451) (6,206) Net Cash Provided by (Used in) Operating Activities 29,864 33,411
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8 HORIBA, Ltd. (Consolidated) Amount: Millions of yen FY2025 First Half (Six Months Ended June 30, 2025) FY2026 First Half (Six Months Ended June 30, 2026) Cash Flows from Investing Activities: Increase in time deposits (208) (29) Decrease in time deposits 834 533 Payments for purchase of marketable securities (1,000) (998) Proceeds from sales or redemption of marketable securities 1,505 1,507 Payments for purchase of property, plant and equipment (9,199) (11,046) Proceeds from sales of property, plant and equipment 177 67 Payments for purchase of intangibles (420) (296) Payments for purchase of investment securities (10) (10) Proceeds from sales or redemption of investment securities 1,631 - Payments of loans receivable (25) (6) Collection of loans receivable 15 19 Purchase of shares of subsidiaries resulting in change in scope of consolidation (2,471) (95) Payments for acquisition of businesses - (290) Subsidies received 1,554 2,271 Other, net (25) (440) Net Cash Provided by (Used in) Investing Activities (7,641) (8,813) Cash Flows from Financing Activities: Net increase (decrease) in short-term borrowings 211 (3,230) Repayments of long-term debt (272) (648) Repayments on finance lease obligations (872) (1,035) Purchase of treasury shares - (1) Proceeds from disposal of treasury shares - 0 Cash dividends paid (7,955) (15,527) Net Cash Provided by (Used in) Financing Activities (8,889) (20,443) Effect of Exchange Rate Changes on Cash and Cash Equivalents (5,322) 3,238 Net Increase (Decrease) in Cash and Cash Equivalents 8,010 7,393 Cash and Cash Equivalents at Beginning of Period 143,963 162,471 Cash and Cash Equivalents at End of Period 151,974 169,865
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9 HORIBA, Ltd. (Consolidated) 2. Supplemental Information Financial Highlights for the Six Months Ended June 30, 2026 1.Consolidated Financial Results Amount : Millions of yen 12/2025 Results 12/2026 Results Changes 12/2025 Results 12/2026 Forecasts Changes 1st Half 1st Half Amount Ratio Full Year Full Year Amount Ratio Net Sales 148,943 179,853 +30,909 +20.8% 333,081 382,000 +48,918 +14.7% Operating Income 21,893 30,488 +8,594 +39.3% 53,040 70,000 +16,959 +32.0% Operating Income Ratio 14.7% 17.0% +2.3P 15.9% 18.3% +2.4P Ordinary Income 22,529 31,419 +8,889 +39.5% 54,226 71,000 +16,773 +30.9% Ordinary Income Ratio 15.1% 17.5% +2.4P 16.3% 18.6% +2.3P Net Income Attributable to HORIBA Ltd.'s Shareholders 15,859 21,806 +5,946 +37.5% 37,090 50,000 +12,909 +34.8% Net Income Ratio 10.6% 12.1% +1.5P 11.1% 13.1% +2.0P US$ 148.40 158.29 +9.89 149.61 155.00 +5.39 Euro 162.25 184.55 +22.30 169.19 180.00 +10.81 2.Consolidated Segment Results Amount : Millions of yen Net Sales 12/2025 Results 12/2026 Results Changes 12/2025 Results 12/2026 Forecasts Changes 1st Half 1st Half Amount Ratio Full Year Full Year Amount Ratio Energy & Environment 54,314 58,383 +4,069 +7.5% 134,407 134,000 -407 -0.3% Bio & Healthcare 18,861 21,513 +2,651 +14.1% 42,173 43,000 +826 +2.0% Materials & Semiconductor 75,768 99,956 +24,188 +31.9% 156,500 205,000 +48,499 +31.0% Total 148,943 179,853 +30,909 +20.8% 333,081 382,000 +48,918 +14.7% Operating Income 12/2025 Results 12/2026 Results Changes 12/2025 Results 12/2026 Forecasts Changes 1st Half 1st Half Amount Ratio Full Year Full Year Amount Ratio Energy & Environment 510 1,079 +569 111.5% 9,417 9,000 -417 -4.4% Bio & Healthcare (1,147) (767) +379 － (894) (500) +394 － Materials & Semiconductor 22,530 30,176 +7,645 +33.9% 44,517 61,500 +16,982 +38.1% Total 21,893 30,488 +8,594 +39.3% 53,040 70,000 +16,959 +32.0%
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10 HORIBA, Ltd. (Consolidated) 3.Consolidated Segment Sales by Destination Amount : Millions of yen 12/2025 Results 12/2026 Results Changes 12/2025 Results 12/2026 Forecasts Changes 1st Half 1st Half Amount Ratio Full Year Full Year Amount Ratio Energy & Environment 54,314 58,383 +4,069 +7.5% 134,407 134,000 -407 -0.3% Japan 16,629 21,479 +4,849 +29.2% 38,225 42,500 +4,274 +11.2% Asia 9,142 10,104 +961 +10.5% 27,585 30,000 +2,414 +8.8% Americas 9,221 8,894 -327 -3.6% 21,369 20,500 -869 -4.1% Europe 19,319 17,905 -1,414 -7.3% 47,227 41,000 -6,227 -13.2% Bio & Healthcare 18,861 21,513 +2,651 +14.1% 42,173 43,000 +826 +2.0% Japan 3,687 3,473 -213 -5.8% 7,762 8,300 +537 +6.9% Asia 4,533 5,090 +556 +12.3% 10,971 11,200 +228 +2.1% Americas 3,939 4,368 +429 +10.9% 8,564 8,500 -64 -0.8% Europe 6,700 8,580 +1,879 +28.1% 14,875 15,000 +124 +0.8% Materials & Semiconductor 75,768 99,956 +24,188 +31.9% 156,500 205,000 +48,499 +31.0% Japan 14,532 19,284 +4,752 +32.7% 30,662 42,500 +11,837 +38.6% Asia 48,572 65,564 +16,991 +35.0% 100,442 126,500 +26,057 +25.9% Americas 7,933 9,193 +1,259 +15.9% 15,441 23,500 +8,058 +52.2% Europe 4,729 5,914 +1,184 +25.1% 9,953 12,500 +2,546 +25.6% Total 148,943 179,853 +30,909 +20.8% 333,081 382,000 +48,918 +14.7% Japan 34,849 44,237 +9,388 +26.9% 76,650 93,300 +16,649 +21.7% Asia 62,249 80,758 +18,509 +29.7% 138,999 167,700 +28,700 +20.6% Americas 21,094 22,456 +1,361 +6.5% 45,375 52,500 +7,124 +15.7% Europe 30,750 32,400 +1,650 +5.4% 72,055 68,500 -3,555 -4.9% 4. Capital Expenditures, Depreciation and R&D Expenses Amount : Millions of yen 12/2025 12/2026 1st Half Results Full-year Results 1st Half Results Full-year Forecasts Capital Expenditures (*1) 9,561 27,451 9,773 20,000 Depreciation (*2) 6,541 13,806 7,687 15,500 R&D Expenses 11,853 24,688 13,441 27,500 (*1) Capital Expenditures are investments in tangible and intangible fixed assets. (*2) Amortization of goodwill is included in depreciation.
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11 HORIBA, Ltd. (Consolidated) 5. Consolidated Financial Results (Quarterly Comparison) Amount : Millions of yen 12/2025 Results 12/2026 1Q 2Q 3Q 4Q 1Q Results 2Q Results 2H Forecasts Net Sales 71,877 77,066 81,301 102,835 84,529 95,323 202,146 Operating Income 11,755 10,137 11,622 19,524 12,480 18,007 39,511 Operating Income Ratio 16.4% 13.2% 14.3% 19.0% 14.8% 18.9% 19.5% Ordinary Income 11,629 10,900 11,840 19,856 12,733 18,685 39,580 Ordinary Income Ratio 16.2% 14.1% 14.6% 19.3% 15.1% 19.6% 19.6% Net Income Attributable to HORIBA Ltd.'s Shareholders 8,113 7,746 8,236 12,994 8,656 13,149 28,193 Net Income Ratio 11.3% 10.1% 10.1% 12.6% 10.2% 13.8% 13.9% 6. Consolidated Segment Results (Quarterly Comparison) Amount : Millions of yen Net Sales 12/2025 Results 12/2026 1Q 2Q 3Q 4Q 1Q Results 2Q Results 2H Forecasts Energy & Environment 25,845 28,468 31,654 48,439 30,496 27,887 75,616 Bio & Healthcare 8,855 10,005 10,647 12,664 9,871 11,641 21,486 Materials & Semiconductor 37,175 38,592 38,999 41,732 44,162 55,794 105,043 Total 71,877 77,066 81,301 102,835 84,529 95,323 202,146 Operating Income 12/2025 Results 12/2026 1Q 2Q 3Q 4Q 1Q Results 2Q Results 2H Forecasts Energy & Environment 754 (243) 1,513 7,393 1,714 (635) 7,920 Bio & Healthcare (734) (413) (172) 425 (667) (100) 267 Materials & Semiconductor 11,735 10,794 10,282 11,704 11,433 18,743 31,323 Total 11,755 10,137 11,622 19,524 12,480 18,007 39,511 Contact Corporate Control Dept, Finance and Legal Division, HORIBA, Ltd. E-mail: ir-info@horiba.com