Interim report
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepan cy between this translated document and the Japanese original, the original shall prevail. July 31, 2026 Consolidated Financial Results for the Three Months Ended June 30, 2026 (Under Japanese GAAP) Company name: AS ONE CORPORATION Listing: Tokyo Stock Exchange Securities code: 7476 URL: https://www.as-1.co.jp/ Representative: Takuji Iuchi President, Group CEO Inquiries: Keisuke Nishikawa Director, CFO, Head of Administration Division Telephone: +81-6-6447-1210 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: None (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated financial results for the three months ended June 30, 2026 (from April 1, 2026 to June 30, 2026) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Three months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % June 30, 2026 30,002 17.0 3,980 27.3 4,142 26.3 2,853 25.2 June 30, 2025 25,637 6.1 3,126 14.0 3,279 14.9 2,279 16.3 Note: Comprehensive income For the three months ended June 30, 2026: ¥ 4,445 million [ 35.8 %] For the three months ended June 30, 2025: ¥ 3,272 million [ 244.6 %] Basic earnings per share Diluted earnings per share Three months ended Yen Yen June 30, 2026 40.04 39.99 June 30, 2025 31.81 31.77 (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % June 30, 2026 105,317 73,231 69.4 March 31, 2026 102,421 71,178 69.4 Reference: Equity As of June 30, 2026: ¥ 73,119 million As of March 31, 2026: ¥ 71,066 million 2. Cash dividends Annual dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended - 31.00 - 34.00 65.00 March 31, 2026 Fiscal year ending - March 31, 2027 Fiscal year ending March 31, 2027 (Forecast) 33.00 - 33.00 66.00 Note: Revisions to the forecast of cash dividends most recently announced: None
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3. Consolidated financial result forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Full year 117,850 6.5 12,900 0.5 13,350 0.9 8,970 (2.3) 125.86 Note: Revisions to the financial result forecast most recently announced: None * Notes (1) Significant changes in the scope of consolidation during the period: None (2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 75,012,540 shares As of March 31, 2026 75,012,540 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 3,729,370 shares As of March 31, 2026 3,744,930 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Three months ended June 30, 2026 71,271,553 shares Three months ended June 30, 2025 71,649,223 shares Note: The indicated total number of treasury shares at the end of the period includes our Company stock (three months ended June 2026: 246,203 shares, fiscal year ended March 202 6: 261,763 shares) held by Custody Bank of Japan, Ltd. (Trust Account) as trust assets for our board benefit trust (for directors) and our employee stock ownership plan trust. * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None * Proper use of earnings forecasts, and other special matters Notes on forward-looking statements Earnings forecasts and other forward -looking statements indicated in this document are based on certain assumptions deemed as reasonable based on available information at the time of creation. The information in this document does not constitute any p romise concerning the achievement of said performance. Actual performance may vary significantly due to various factors. For details on parameters serving as the basis of assumptions related to performance earnings and notes concerning the use of earnings forecasts, refer to page 3 of the attached materials: 1.Overview of Operating Results. (3)Explanation of Consolidated Earnings Forecasts and Other Forward-looking Statements
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―1― ○Accompanying Materials – Contents 1.Overview of Operating Results ･･････････････････････････････････････････････････････ ･････ 2 (1) Overview of Business Results for the Three-Month Ended June 30,2026 ･･･････････････････････ 2 (2) Overview of Financial Position for the Three-Month Ended June 30,2026 ･･････････････････････ 3 (3)Explanation of Consolidated Earnings Forecasts and Other Forward -looking Statements ･･･････････ 3 2. Quarterly Consolidated Financial Statements and Primary Notes ････････････････････････････････ 4 (1) Quarterly Consolidated balance sheets ･･････････････････････････････････････････････････ 4 (2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income･ 6 (3) Notes to Quarterly Consolidated Financial Statement ･･････････････････････････････････････ 8 Notes on the Going Concern Assumption ････････････････････････････････････････････････ 8 Notes on Substantial Changes in the Amount of Shareholders' Equity ･･････････････････････････ 8 Notes on Segment Information ････････････････････････････････････････････････････････ 8 Notes on cash flow statement ････････････････････････････････････････････････････････ ･ 8 3.Other ･･････････････････････････････････････････････････････････････････････････････ ･ 9 Sales results ･････････････････････････････････････････････････････････････････････････ ･ 9
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―2― 1.Overview of Operating Results (1) Overview of Business Results for the Three-Month Period Ended June 30,2026 During the first three months of the consolidated fiscal year (April 1, 2026 to June 30, 2026; hereinafter, the “first quarter”), the Japanese economy continued to recover moderately, supported by improvements in employment and income conditions. However, the outlook remained uncertain due to concerns such as rising prices, including resource prices, caused by the deteriorating situation in the Middle East, as well as the impact of fluctuations in foreign exchange rates and interest rates. Under these circumstances, the Group proactively implemented various key initiatives set forth in its medium -term management plan, “FY2025–2027”. During the first quarter, demand for research and development activities at universities and major companies remained firm, and inquiries for plastic consumables, including gloves, increased against the backdrop of the situation in the Middle East. As a re sult, net sales remained strong in both the Research and Industrial Instruments Division and the Medical Instruments Division. In addition, consolidated purchasing by large corporate customers and e -commerce sales grew significantly. Amid tightening supplies of petroleum-derived products, ample inventory and initiatives to diversify procurement sources proved effective, also leading to an influx of new customers. Net sales by business segment were as follows. Divisions For the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025) (Millions of yen) For the Three Months Ended June 30, 2026 (April 1, 2026 to June 30, 2026) (Millions of yen) YoY (%) Research and Industrial Instruments Division 21,519 25,306 117.6 Scientific Sector 15,867 18,610 117.3 Industrial Sector 5,652 6,696 118.5 Medical Instruments Division 3,978 4,543 114.2 Other 138 152 109.5 Total 25,637 30,002 117.0 Notes: 1. The sales results by division are supplemental information that aggregates the sales results to dealers under the jurisdiction of each division, and do not represent segment information. 2. Other is the system-use fee sales of Tryumph21co., Ltd. Selling, general and administrative expenses were 5,288 million yen, up 11.3% year on year. Although SG&A expenses increased year on year due to higher computer -related expenses, increased rent associated with the relocation of the Kyushu Distribution Center, and higher personnel expenses resulting from investment in human resources, the Company promoted more efficient operations in both fixed and variable costs by containing increases in freight and warehouse handling fees relative to sales growth. As a re sult, the ratio of SG&A expenses to net sales improved by 0.9 percentage points year on year to 17.6%. As a result, consolidated net sales for the first quarter were 30,002 million yen, up 17.0% year on year; operating profit was 3,980 million yen, up 27.3% year on year; ordinary profit was 4,142 million yen, up 26.3% year on year; and profit attributable to owners of parent was 2,853 million yen, up 25.2% year on year. For details, please refer to “Supplementary materials for Summary of Financial Results for the first quarter 2027” posted on the Company’s website. URL: https://ssl4.eir-parts.net/doc/7476/ir_material_for_fiscal_ym7/209039/00.pdf
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―3― (2) Overview of Financial Position for the Three-month Period Ended June 30,2026 Current assets at the end of the first quarter of the consolidated fiscal year were 75,033 million yen, an increase of 2,009 million yen*. This was mainly due to a decrease of 745 million yen in trade receivables, while cash and deposits increased by 2,925 million yen, among other factors. Non-current assets were 30,284 million yen, an increase of 886 million yen *. This was mainly due to an increase of 219 million yen in property, plant and equipment, including an increase in construction in progress due to the commencement of construction of a rental and calibration center, and an increase of 688 million yen in inv estment securities, among other factors. Current liabilities at the end of the first quarter of the consolidated fiscal year were 23,973 million yen, a decrease of 1,791 million yen*. This was mainly due to an increase of 2,387 million yen in short -term borrowings, while notes and accounts payable trade decreased by 1,814 million yen and income taxes payable decreased by 1,116 million yen, among other factors. Non-current liabilities were 8,113 million yen, an increase of 2,635 million yen*. This was mainly due to an increase of 2,003 million yen in long-term borrowings, among other factors. Net assets at the end of the first quarter of the consolidated fiscal year were 73,231 million yen, an increase of 2,052 million yen*. This was mainly due to an increase of 421 million yen in retained earnings and an increase of 1,498 million yen in valuation difference on available-for-sale securities, among other factors. * Compared with the end of the previous consolidated fiscal year (3) Explanation of Consolidated Earnings Forecasts and Other Forward-looking Statements There have been no changes to the forecasts for the fiscal year ending March 31, 202 7, announced on May 13, 2026.
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―4― 2. Quarterly Consolidated Financial Statements and Primary Notes (1) Quarterly Consolidated Balance Sheet (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and deposits 20,036 22,962 Notes and accounts receivable - trade 23,178 21,446 Electronically recorded monetary claims - operating 14,757 15,744 Investments in leases 54 48 Securities 2,104 1,095 Inventories 12,074 12,834 Other 829 915 Allowance for doubtful accounts (13) (13) Total current assets 73,023 75,033 Non-current assets Property, plant and equipment Buildings and structures, net 3,080 2,998 Land 2,227 2,227 Other, net 5,162 5,463 Total property, plant and equipment 10,470 10,689 Intangible assets 1,715 1,847 Investments and other assets Investment securities 11,650 12,339 Deferred tax assets 319 104 Investment property, net 3,520 3,511 Other 1,752 1,823 Allowance for doubtful accounts (31) (31) Total investments and other assets 17,212 17,747 Total non-current assets 29,397 30,284 Total assets 102,421 105,317 Liabilities Current liabilities Notes and accounts payable - trade 16,961 15,146 Short-term borrowings 2,122 4,510 Income taxes payable 2,295 1,178 Provision for bonuses 1,104 742 Other 3,280 2,395 Total current liabilities 25,764 23,973 Non-current liabilities Long-term borrowings 2,630 4,633 Deferred tax liabilities 17 658 Provision for share awards 184 183 Provision for share awards for directors (and other officers) 92 80 Retirement benefit liability 28 27 Asset retirement obligations 1,795 1,798 Other 729 730 Total non-current liabilities 5,478 8,113 Total liabilities 31,242 32,086 (Millions of yen)
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―5― (Millions of yen) As of March 31, 2026 As of June 30, 2026 As of March 31, 2026 As of June 30, 2026 Net assets Shareholders' equity Share capital 5,075 5,075 Capital surplus 4,337 4,337 Retained earnings 63,003 63,425 Treasury shares (5,632) (5,593) Total shareholders' equity 66,784 67,245 Accumulated other comprehensive income Valuation difference on available-for-sale securities 3,637 5,135 Foreign currency translation adjustment 645 738 Total accumulated other comprehensive income 4,282 5,874 Share acquisition rights 111 111 Total net assets 71,178 73,231 Total liabilities and net assets 102,421 105,317
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―6― (2) Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statement of Income For the Three-Month Period (Millions of yen) For the three months ended June 30, 2025 For the three months ended June 30, 2026 Net sales 25,637 30,002 Cost of sales 17,757 20,732 Gross profit 7,880 9,269 Selling, general and administrative expenses 4,754 5,288 Operating profit 3,126 3,980 Non-operating income Interest income 29 27 Dividend income 71 91 Rental income from real estate 107 110 Other 14 7 Total non-operating income 223 237 Non-operating expenses Interest expenses 10 11 Rental costs on real estate 41 40 Other 17 22 Total non-operating expenses 69 75 Ordinary profit 3,279 4,142 Extraordinary losses Loss on retirement of non-current assets - 1 Total extraordinary losses - 1 Profit before income taxes 3,279 4,141 Income taxes - current 772 1,119 Income taxes - deferred 227 168 Total income taxes 1,000 1,287 Profit 2,279 2,853 Profit attributable to owners of parent 2,279 2,853
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―7― (Millions of yen) For the three months ended June 30, 2025 For the three months ended June 30, 2026 Profit 2,279 2,853 Other comprehensive income Valuation difference on available-for-sale securities 1,101 1,498 Foreign currency translation adjustment (108) 92 Total other comprehensive income 993 1,591 Comprehensive income 3,272 4,445 Comprehensive income attributable to Comprehensive income attributable to owners of parent 3,272 4,445
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―8― (3) Notes to Quarterly Consolidated Financial Statements Notes on the Going Concern Assumption Not applicable. Notes on Substantial Changes in the Amount of Shareholders' Equity Not applicable. Notes on Segment Information Segment Information Our group primarily engages in the wholesale of equipment, supplies, consumables, etc., to dealers in the scientific, industrial, and medical instrument sectors. Although we handle a diverse range of products, our business operations are unified in terms of target markets, customer base, procurement methods, and sales channels. While we also operate a web-based purchasing agency business, its scale and impact are minimal. Consequently, segment information for this business has been omitted. Based on the above, we report as one single operating segment. Notes on the Cash Flow Statement We have not prepared a quarterly consolidated cash flow statement for the first quarter of the consolidated cumulative period. Depreciation expenses for the first quarter of the consolidated cumulative period are as follows: For the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025) For the Three Months Ended June 30, 2026 (April 1, 2026 to June 30, 2026) Depreciation 410 million yen 401 million yen
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―9― 3.Other Sales Results Sales Results by Item Item For the Three Months Ended June 30, 2025 (April 1, 2025 to June 30, 2025) For the Three Months Ended June 30, 2026 (April 1, 2026 to June 30, 2026) Amount (Millions of yen) Ratio (%) Amount (Millions of yen) Ratio (%) Scientific instruments and equipment General-purpose scientific instruments and equipment 2,586 10.1 2,852 9.5 Analysis, specialized equipment and devices 5,150 20.1 6,066 20.2 Physical property measuring equipment and devices 1,468 5.7 1,398 4.7 Laboratory equipment 3,585 14.0 4,170 13.9 Subtotal 12,791 49.9 14,488 48.3 Scientific Instruments and Supplies General-purpose appliances and consumables 6,151 24.0 7,567 25.2 Semiconductor-related special equipment 2,452 9.6 3,205 10.7 Subtotal 8,603 33.6 10,772 35.9 Nursing and nursing care products 4,103 16.0 4,589 15.3 Other 138 0.5 152 0.5 Total 25,637 100.0 30,002 100.0 Notes:1. Sales results by product category are supplemental information that aggregates sales results by product category according to our product classification and is not a presentation of segment information. 2.Other is the system-use fee sales of Tryumph21co., Ltd.