Interim report
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Consolidated Financial Summary First Quarter of FY2027 ( April 1 , 2026 - June 30 , 2026 ) TS TECH Co. , Ltd . This document is an English translation of the Japanese language version of the consolidated financial summary that TS TECH Co. , Ltd. has produced for reference purposes . In the event of any discrepancy between this translated document and the Japanese original , the original shall prevail .
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Consolidated Financial Summary for the Cumulative First Quarter of FY2027 (under IFRS) August 7, 2026 Company name: TS TECH CO., LTD. Stock exchange listing: Tokyo Stock Exchange Stock code: 7313 URL: https://www.tstech.co.jp/ Representative: Eiji Toba, Representative Director, President Contact: Mahoro Kurata, General Manager, Administration Department Tel. 048-462-1121 Scheduled date of commencement of dividend payment: ─ Preparation of supplementary explanatory material: None Quarterly results briefing: None (Amounts of less than one million yen are rounded down to the nearest million yen) 1. Consolidated Financial Results for the Cumulative First Quarter of FY2027 (April 1, 2026 – June 30, 2026) (1) Consolidated Financial Results (Cumulative Total) (%: year-on-year change) Revenue Operating income Income before tax Net income Income attributable to owners of parent Total comprehensive income Million yen % Million yen % Million yen % Million yen % Million yen % Million yen % First quarter of FY2027 112,845 9.9 1,732 14.1 2,916 23.6 1,375 15.0 1,598 172.0 7,143 – First quarter of FY2026 102,698 (8.7) 1,517 (39.2) 2,360 (38.1) 1,195 (60.3) 587 (76.2) (2,830) – Basic earnings per share Diluted earnings per share Yen Yen First quarter of FY2027 13.70 – First quarter of FY2026 4.93 – (2) Consolidated Financial Position Total assets Total equity Equity attributable to owners of parent Ratio of equity attributable to owners of parent to total assets Equity attributable to owners of parent per share Million yen Million yen Million yen % Yen First quarter of FY2027 417,288 325,864 311,590 74.7 2,667.90 FY2026 422,709 327,598 309,869 73.3 2,655.61 2. Cash Dividends Annual cash dividends per share End of 1Q End of 2Q End of 3Q End of year Annual Yen Yen Yen Yen Yen FY2026 － 44.00 − 46.00 90.00 FY2027 － FY2027 (forecast) 46.00 − 46.00 92.00 (Note) Revision from the most recent announcement of cash dividends forecasts: No 3. Consolidated Forecasts for FY2027 (April 1, 2026 – March 31, 2027) (%: year-on-year change) Revenue Operating income Income before tax Net income Income attributable to owners of parent Basic earnings per share Million yen % Million yen % Million yen % Million yen % Million yen % Yen FY2027 440,000 (0.5) 13,000 25.9 15,500 0.2 8,500 (12.0) 8,000 12.1 68.47 (Note) Revision from the most recent announcement of consolidated financial forecasts: No
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* Notes (1) Significant changes in the scope of consolidation during the period: None Newly included ― company(ies) Excluded ― company(ies) (2) Changes in accounting policies and accounting estimates 1) Changes in accounting policies required by IFRS: None 2) Changes other than 1): None 3) Changes in accounting estimates: None (3) Number of shares issued (common stock) 1) Number of shares issued at the end of the term including treasury stock 1Q of FY2027 124,000,000 shares FY2026 124,000,000 shares 2) Number of treasury stock at the end of the term 1Q of FY2027 7,207,747 shares FY2026 7,314,847 shares 3) Average number of shares during the term (cumulative) 1Q of FY2027 116,703,448 shares 1Q of FY2026 119,221,916 shares *Review of the attached consolidated quarterly financial statements by certified public accountants or auditing firms: None * Explanation regarding the appropriate use of forecasts of financial results and other notes The consolidated forecasts are projections made by the Company's management based on information available at the time of preparation. For that reason, they involve risks and uncertainties. Accordingly, we request that readers of this document avoid making investment decisions based exclusively on these forecasts. Please bear in mind the possibility that actual results may differ materially from these forecasts due to various important factors. Please refer to “1. Qualitative Information Concerning Results (3) Qualitative Information Concerning Consolidated Forecasts” on page 4 for the assumptions and other information that form the basis for the operating results forecast.
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- 1 - Table of Contents 1. Qualitative Information Concerning Results ......................................................................................................2 (1) Qualitative Information Concerning Consolidated Financial Results ........................................................2 (2) Qualitative Information Concerning Consolidated Financial Positions .....................................................4 (3) Qualitative Information Concerning Consolidated Forecasts .....................................................................4 2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto .................................5 (1) Condensed Quarterly Consolidated Statement of Financial Position .........................................................5 (2) Condensed Quarterly Consolidated Statements of Income and Comprehensive Income ...........................7 (3) Condensed Quarterly Consolidated Statement of Changes in Equity ........................................................9 (4) Condensed Quarterly Consolidated Statement of Cash Flows ................................................................. 11 (5) Notes Concerning Condensed Quarterly Consolidated Financial Statements .......................................... 13
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- 2 - 1. Qualitative Information Concerning Results (1) Qualitative Information Concerning Consolidated Financial Results Revenue for the cumulative first quarter of FY2027 (April 1, 2026 – June 30, 2026) was 112,845 million yen on a consolidated basis, an increase of 10,146 million yen (9.9%) from the same period of the previous year, including the effects of foreign exchange rates (9,096 million yen). Revenue growth was primarily driven by these foreign exchange effects and higher sales to customers other than major customers. In terms of profit, operating income was 1,732 million yen, an increase of 214 million yen (14.1%) from the same period of the previous year, mainly due to effective control of labor expenses and cost reductions. Income attributable to owners of parent was 1,598 million yen, an increase of 1,010 million yen (172.0%) from the same period of the previous year. * USD/JPY average exchange rate: 1Q FY2026: ¥144.6 1Q FY2027: ¥159.6 * CNY/JPY average exchange rate: 1Q FY2026: ¥20.0 1Q FY2027: ¥23.5 Operating performance by segment is as follows. (Japan) (Unit: Million yen) Cumulative First quarter of FY2026 Cumulative First quarter of FY2027 Difference Change Rate Revenue 25,379 27,866 2,487 9.8% Operating income 1,598 2,468 869 54.4% Main factors for year-on-year change Revenue Revenue increased due primarily to higher production for major customers and improvements in the model mix. Operating income Operating income increased due primarily to higher revenue and the effects of foreign exchange rates. (Americas) (Unit: Million yen) Cumulative First quarter of FY2026 Cumulative First quarter of FY2027 Difference Change Rate Revenue 61,171 71,216 10,044 16.4% Operating income 498 990 492 98.7% Main factors for year-on-year change Revenue Despite changes in the model mix, revenue increased due primarily to the effects of foreign exchange rates and higher production for major customers. Operating income Operating income increased due primarily to higher revenue and cost reductions.
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- 3 - (China) (Unit: Million yen) Cumulative First quarter of FY2026 Cumulative First quarter of FY2027 Difference Change Rate Revenue 13,340 8,345 (4,994) (37.4)% Operating income(loss) 1,437 (713) (2,151) –% Main factors for year-on-year change Revenue Despite the effects of foreign exchange rates, revenue de creased due primarily to lower production for major customers. Operating income Operating income decreased due primarily to lower revenue. (Asia and Europe) (Unit: Million yen) Cumulative First quarter of FY2026 Cumulative First quarter of FY2027 Difference Change Rate Revenue 10,114 12,143 2,028 20.1% Operating income(loss) (284) 513 798 –% Main factors for year-on-year change Revenue Revenue increased due primarily to higher sales to customers other than major customers. Operating income Operating income increased due primarily to higher revenue and effective control of various expenses. Sales by business segment are as follows: (Unit: Million yen) Cumulative first quarter of FY2026 Cumulative first quarter of FY2027 Difference Change Rate Sales ratio Sales ratio Motorcycles 2,034 2.0 % 2,158 1.9 % 124 6.1 % Automobiles 94,980 92.5 % 104,670 92.8 % 9,690 10.2 % (Seats) 86,453 84.2 % 94,880 84.1 % 8,427 9.7 % (Interior products) 8,526 8.3 % 9,789 8.7 % 1,263 14.8 % Other businesses 5,684 5.5 % 6,015 5.3 % 331 5.8 % Total 102,698 100.0 % 112,845 100.0 % 10,146 9.9 %
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- 4 - (2) Qualitative Information Concerning Consolidated Financial Positions (Assets) Assets at the end of the first quarter of FY2027 stood at 417,288 million yen, a decrease of 5,421 million yen from the end of the previous consolidated fiscal year. This change was due mainly to decreased trade and other receivables associated with factors such as lower volumes of orders received from major customers and a decrease in cash and cash equivalents resulting from dividend payments, despite the impact of foreign exchange rate change overall to the assets. (Liabilities) Liabilities at the end of the first quarter of FY2027 stood at 91,424 million yen, a decrease of 3,687 million yen from the end of the previous consolidated fiscal year. This change was mainly due to lower trade and other payables associated with factors such as lower volumes of orders received from major customers, despite the impact of foreign exchange rate change overall to the liabilities. (Equity) Equity at the end of the first quarter of FY2027 stood at 325,864 million yen, a decrease of 1,733 million yen from the end of the previous consolidated fiscal year. This was due mainly to lower retained earnings and non-controlling interest resulting from dividend payments, despite an increase in other components of equity attributable to an increase in differences on translation from foreign operations. (3) Qualitative Information Concerning Consolidated Forecasts Taking into account consolidated operating results for the cumulative first quarter as well as the current trend in orders from major customers and foreign exchange rates, the company is keeping the consolidated forecasts announced on May 13, 2026 unchanged.
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- 5 - 2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto (1) Condensed Quarterly Consolidated Statement of Financial Position (Unit: Million yen) FY2026 (As of March 31, 2026) First quarter of FY2027 (As of June 30, 2026) Assets Current assets Cash and cash equivalents 92,602 89,156 Trade and other receivables 64,064 59,810 Other financial assets 18,593 11,027 Inventories 43,959 46,504 Income taxes receivables 2,681 2,902 Other current assets 7,744 9,063 Total current assets 229,644 218,464 Non-current assets Property, plant and equipment 102,600 103,001 Intangible assets 11,526 11,378 Investments accounted for using the equity method 20,603 20,816 Other financial assets 43,258 48,451 Defined benefit assets 7,805 7,897 Deferred tax assets 6,916 6,944 Other non-current assets 355 333 Total non-current assets 193,065 198,823 Total assets 422,709 417,288
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- 6 - (Unit: Million yen) FY2026 (As of March 31, 2026) First quarter of FY2027 (As of June 30, 2026) Liabilities and equity Current liabilities Trade and other payables 75,340 70,609 Other financial liabilities 1,358 1,400 Income tax payables 817 432 Provisions 222 70 Other current liabilities 7,264 8,128 Total current liabilities 85,002 80,640 Non-current liabilities Other financial liabilities 5,035 4,748 Defined benefit liabilities 2,325 2,344 Provisions 124 123 Deferred tax liabilities 1,362 2,265 Other non-current liabilities 1,259 1,302 Total non-current liabilities 10,109 10,783 Total liabilities 95,111 91,424 Equity Capital stock 4,700 4,700 Capital surplus 5,404 5,297 Treasury stock (12,427) (12,247) Retained earnings 246,214 242,426 Other components of equity 65,978 71,413 Total equity attributable to owners of parent 309,869 311,590 Non-controlling interests 17,728 14,274 Total equity 327,598 325,864 Total liabilities and equity 422,709 417,288
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- 7 - (2) Condensed Quarterly Consolidated Statements of Income and Comprehensive Income Condensed Quarterly Consolidated Statement of Income Consolidated Cumulative First Quarter (Unit: Million yen) Consolidated cumulative First quarter of FY2026 (April 1, 2025 – June 30, 2025) Consolidated cumulative First quarter of FY2027 (April 1, 2026 – June 30, 2026) Revenue 102,698 112,845 Cost of sales (89,756) (99,542) Gross profit 12,942 13,302 Selling, general and administrative expenses (11,444) (11,894) Other income 187 426 Other expenses (167) (102) Operating income 1,517 1,732 Finance income 1,206 1,245 Finance costs (233) (84) Share of profit (loss) of investments accounted for using the equity method (130) 23 Income before tax 2,360 2,916 Income tax expense (1,164) (1,541) Net income 1,195 1,375 Income (loss) attributable to Owners of parent 587 1,598 Non-controlling interests 607 (223) Net income 1,195 1,375 Earnings per share Basic earnings per share (yen) 4.93 13.70 Diluted earnings per share (yen) – –
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- 8 - Condensed Quarterly Consolidated Statement of Comprehensive Income Consolidated Cumulative First Quarter (Unit: Million yen) Consolidated cumulative First quarter of FY2026 (April 1, 2025 – June 30, 2025) Consolidated cumulative First quarter of FY2027 (April 1, 2026 – June 30, 2026) Net income 1,195 1,375 Other comprehensive income Components that will not be reclassified subsequently to net profit or loss Remeasurements of defined benefits plans (6) (1) Financial assets measured at fair value through other comprehensive income 495 2,584 Share of other comprehensive income of associates accounted for using the equity method 80 143 Total components that will not be reclassified subsequently to net profit or loss 569 2,726 Components that may be reclassified subsequently to net profit or loss Differences on translation from foreign operations (3,915) 2,794 Share of other comprehensive income of associates accounted for using the equity method (679) 247 Total components that may be reclassified subsequently to net profit or loss (4,595) 3,041 Other comprehensive income, net of tax (4,026) 5,768 Comprehensive income for the period (2,830) 7,143 Comprehensive income for the period attributable to Owners of parent (2,966) 7,034 Non-controlling interests 136 109 Comprehensive income for the period (2,830) 7,143
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- 9 - (3) Condensed Quarterly Consolidated Statement of Changes in Equity Consolidated Cumulative First Quarter of FY2026 (April 1, 2025 – June 30, 2025) (Unit: Million yen) Equity attributable to owners of parent Capital stock Capital surplus Treasury stock Retained earnings Other components of equity Balance at the beginning of the fiscal year 4,700 5,403 (26,999) 268,654 54,543 Comprehensive income Net income (loss) 587 Other comprehensive income (3,554) Total comprehensive income – – – 587 (3,554) Transactions with owners, etc. Dividends (5,127) Acquisition of treasury stock (0) (317) Disposal of treasury stock 19 (19) Cancellation of treasury stock (19,347) 19,347 Share-based payments 53 Transfer for negative balance of other capital surplus 19,275 (19,275) Total transactions with owners, etc. – 0 19,010 (24,403) – Balance at the end of the period 4,700 5,403 (7,988) 244,839 50,988 Total equity attributable to owners of parent Non- controlling interests Total equity Balance at the beginning of the fiscal year 306,302 19,383 325,686 Comprehensive income Net income (loss) 587 607 1,195 Other comprehensive income (3,554) (471) (4,026) Total comprehensive income (2,966) 136 (2,830) Transactions with owners, etc. Dividends (5,127) (4,311) (9,439) Acquisition of treasury stock (317) (317) Disposal of treasury stock – – Cancellation of treasury stock – – Share-based payments 53 53 Transfer for negative balance of other capital surplus – – Total transactions with owners, etc. (5,392) (4,311) (9,703) Balance at the end of the period 297,943 15,208 313,152
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- 10 - Consolidated Cumulative First Quarter of FY2027 (April 1, 2026 – June 30, 2026) (Unit: Million yen) Equity attributable to owners of parent Capital stock Capital surplus Treasury stock Retained earnings Other components of equity Balance at the beginning of the fiscal year 4,700 5,404 (12,427) 246,214 65,978 Comprehensive income Net income (loss) 1,598 Other comprehensive income 5,435 Total comprehensive income – – – 1,598 5,435 Transactions with owners, etc. Dividends (5,386) Acquisition of treasury stock Disposal of treasury stock (173) 179 Cancellation of treasury stock Share-based payments 67 Transfer for negative balance of other capital surplus Total transactions with owners, etc. – (106) 179 (5,386) – Balance at the end of the period 4,700 5,297 (12,247) 242,426 71,413 Total equity attributable to owners of parent Non- controlling interests Total equity Balance at the beginning of the fiscal year 309,869 17,728 327,598 Comprehensive income Net income (loss) 1,598 (223) 1,375 Other comprehensive income 5,435 333 5,768 Total comprehensive income 7,034 109 7,143 Transactions with owners, etc. Dividends (5,386) (3,563) (8,950) Acquisition of treasury stock – – Disposal of treasury stock 5 5 Cancellation of treasury stock – – Share-based payments 67 67 Transfer for negative balance of other capital surplus – – Total transactions with owners, etc. (5,313) (3,563) (8,877) Balance at the end of the period 311,590 14,274 325,864
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- 11 - (4) Condensed Quarterly Consolidated Statement of Cash Flows (Unit: Million yen) Consolidated cumulative First quarter of FY2026 (April 1, 2025 – June 30, 2025) Consolidated cumulative First quarter of FY2027 (April 1, 2026 – June 30, 2026) Cash flows from operating activities Income before tax 2,360 2,916 Depreciation and amortization 3,480 3,685 Loss (gain) on disposal of non-current assets 87 (81) Finance income and finance costs (1,215) (1,079) Share of loss (profit) of investments accounted for using the equity method 130 (23) Decrease (increase) in trade and other receivables 8,875 5,090 Decrease (increase) in lease receivables 640 350 Decrease (increase) in inventories (1,614) (1,968) Increase (decrease) in trade and other payables 685 (6,132) Increase or decrease in net defined benefit asset or liability 63 (54) Increase (decrease) in provisions (5) (154) Others (4,339) (2,253) Subtotal 9,148 294 Interest income received 742 530 Dividend income received 727 837 Interest expenses paid (60) (84) Income taxes paid (2,515) (2,308) Cash flows from operating activities 8,042 (730) Cash flows from investing activities Payments into time deposits (7,206) (6,590) Proceeds from withdrawal of time deposits 18,050 13,031 Purchase of property, plant and equipment (4,920) (3,624) Proceeds from sales of property, plant and equipment 267 540 Purchase of intangible assets (791) (316) Purchase of equity instruments (1,152) (8) Net decrease (increase) in deposits for purchase of equity instruments (2,202) – Payments of loans receivable (51) (82) Collection of loans receivable 44 50 Others 0 3 Cash flows from investing activities 2,036 3,005
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- 12 - (Unit: Million yen) Consolidated cumulative First quarter of FY2026 (April 1, 2025 – June 30, 2025) Consolidated cumulative First quarter of FY2027 (April 1, 2026 – June 30, 2026) Cash flows from financing activities Repayments of lease liabilities (357) (410) Purchase of treasury stock (317) – Net decrease (increase) in deposits for purchase of treasury stock (682) – Cash dividends paid (5,127) (5,386) Cash dividends paid to non-controlling interests (1,410) (773) Cash flows from financing activities (7,895) (6,571) Effect of exchange rate change on cash and cash equivalents (1,713) 849 Net increase (decrease) in cash and cash equivalents 470 (3,446) Cash and cash equivalents at the beginning of the period 111,543 92,602 Cash and cash equivalents at the end of the period 112,013 89,156
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- 13 - (5) Notes Concerning Condensed Quarterly Consolidated Financial Statements (Notes Concerning Going Concern Assumption) Not applicable. (Segment Information) Information about revenue, profits, or losses for reportable segments Consolidated Cumulative First quarter of FY2026 (April 1, 2025 – June 30, 2025) (Unit: Million yen) Reportable segments Adjustments Amounts stated in consolidated F/S Japan Americas China Asia and Europe Total Revenue External revenue 19,594 60,984 12,727 9,391 102,698 – 102,698 Inter-segment transfer 5,784 187 612 723 7,307 (7,307) – Total 25,379 61,171 13,340 10,114 110,006 (7,307) 102,698 Segment profits (losses) 1,598 498 1,437 (284) 3,250 (1,732) 1,517 Finance income and finance costs – – – – – – 972 Share of loss of investments accounted for using the equity method – – – – – – (130) Income before tax – – – – – – 2,360 (Notes) 1. Adjustments of (1,732) million yen for segment profits include a deduction of (120) million yen for transactions among segments and operating expenses of (1,612) million yen associated with the administrative division at the parent company headquarters, which could not be allocated. 2. The profit of reportable segments is based on operating income as presented in the condensed quarterly consolidated statement of profit or loss. Consolidated Cumulative First quarter of FY2027 (April 1, 2026 – June 30, 2026) (Unit: Million yen) Reportable segments Adjustments Amounts stated in consolidated F/S Japan Americas China Asia and Europe Total Revenue External revenue 22,770 71,191 7,530 11,353 112,845 – 112,845 Inter-segment transfer 5,096 24 814 790 6,726 (6,726) – Total 27,866 71,216 8,345 12,143 119,571 (6,726) 112,845 Segment profits (losses) 2,468 990 (713) 513 3,259 (1,527) 1,732 Finance income and finance costs – – – – – – 1,161 Share of profit of investments accounted for using the equity method – – – – – – 23 Income before tax – – – – – – 2,916 (Notes) 1. Adjustments of (1,527) million yen for segment profits include a deduction of 131 million yen for transactions among segments and operating expenses of (1,658) million yen associated with the administrative division at the parent company headquarters, which could not be allocated. 2. The profit of reportable segments is based on operating income as presented in the condensed quarterly consolidated statement of profit or loss.