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(7564) WORKMAN FY2026 Q2 Financial Results Briefing Materials November 10, 2025
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©2025 WORKMAN CO., LTD. All Rights Reserved Briefing Contents 2 ●FY2026 Q2 Financial Results 3 ●FY2026 Q2 Financial Results Overview 7 ●FY2026 Plans 16
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©2025 WORKMAN CO., LTD. All Rights Reserved ●FY2026 Q2 Financial Results 3 Briefing Contents
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©2025 WORKMAN CO., LTD. All Rights Reserved （Millions of yen） FY 3/2025 Q2 FY 3/2026 Ｑ2 YoY （％） FY 3/2026 Q2 Plans Vs. Plans Sales at all chain stores 91,209 101,574 +11.4 96,385 +5.4 Sales to directly managed stores 8,024 11,184 +39.4 10,894 +2.7 Sales to franchise stores 83,184 90,389 +8.7 85,490 +5.7 （Same store sales） － － +6.8 +1.3 +5.5 Total operating revenue 65,795 76,137 +15.7 70,262 +8.4 Cost of sales 41,022 46,714 +13.9 42,585 +9.7 Adjusted OP before SG&A 24,773 29,423 +18.8 27,676 +6.3 SG&A 12,845 14,978 +16.6 14,773 +1.4 Operating profit 11,927 14,444 +21.1 12,903 +11.9 Ordinary profit 12,179 14,874 +22.1 13,288 +11.9 Net income 7,530 9,227 +22.5 8,212 +12.4 EPS 92.28 yen 113.06 yen 100.63 yen 4 Cumulative Income Statement FY 3/26 Q2 Results Financial Results Highlights ●Sales at all chain stores ・Sales of summer apparel remained robust thanks to hot weather lingering into late summer. Rollout of products for off-peak times of year such as recovery wear also contributed to results that exceeded the plan target (+5.4 points above plan). ●Total operating revenue ・Sales at directly managed stores increased significantly due to the rise in average number of stores during the period (+28 stores) (YoY +39.4％) ・Gross profit margin at franchise stores rose +0.3 points due to an increase in royalties. ・Product sales and supply at franchise stores was 44,600 million yen (up 13.9% YoY) as supply of summer and year-round products has increased in response to climate change. ●Cost of sales ・Profit related to overseas purchases rose due to price revisions from product change/elimination and an increase in transactions. ① Average settlement rate: 147.17 yen (FY 3/25 Q2 143.11 yen) ② Direct overseas purchases: +38.1％ (accounts for 63.9% of total purchases) ③ Profit related to overseas purchases: 5,358 million yen (+75.1％ YoY) ・Recording of inventory valuation losses: 1,289 million yen (+630 million yen YoY) ●Gross operating profit (main factors for rise/drop) ・Revenue from franchise stores: +1,729 million yen ・Gross profit from self-operated stores: +1,138 million yen ・Profit related to overseas purchases: +2,299 million yen ● In summary ・With both revenue and profit increasing in Q2 for the first time in 4 years, record-high profit was achieved.
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©2025 WORKMAN CO., LTD. All Rights Reserved 5 Cumulative Selling, General and Administrative Expenses (SG&A) *The SG&A ratio is the ratio of SG&A to sales at all chain stores. FY 3/26 Q2 Results (Millions of yen) FY 3/2025 Q2 SG&A ratio (％) FY 3/2026 Q2 SG&A ratio (％) Change YoY (％) Sales at all chain stores 91,209 － 101,574 － － +11.4 Labor cost 2,156 2.4 2,519 2.5 +362 +16.8 Selling cost 666 0.7 1,080 1.1 +414 +62.1 Traveling expenses 224 0.2 237 0.2 +12 +5.7 Freight cost 974 1.1 1,091 1.1 +116 +12.0 Rent 3,452 3.8 3,558 3.5 +105 +3.1 Supply expenses 464 0.5 652 0.6 +188 +40.5 Outsourcing expenses 2,127 2.3 2,463 2.4 +336 +15.8 Depreciation 1,434 1.6 1,717 1.7 +283 +19.8 Other 1,345 1.5 1,658 1.6 +313 +23.3 Total 12,845 14.1 14,978 14.7 ＋2,132 +16.6 Factors of increase/decrease ●Labor cost ・Regular salary increase: +3.6％. Average number of employees during the quarter: +24 ・Average number of directly managed stores during the quarter: +24 stores, increased part-time hiring ●Selling cost ・Efforts to strengthen the integration of sales promotions and sales floors (advertising media +164 million yen, exhibition expenses +68 million yen), flyers +138 million yen ●Freight cost ・Growth in sales at all chain stores and product supply and sales at franchise stores. ●Rent ・The average number of stores during the quarter: +44, +75 million yen ●Supply expenses ・Furniture and fixtures for new stores and renovations: +182 million yen ・Establishment of logistics depots (Hokkaido, Kyushu), purchase of equipment: +33 million yen ●Outsourcing expenses ・SC stores operating cost: +218 million yen ・Distribution center management outsourcing: +72 million yen ・New store and renovation operations: +50 million yen ●Depreciation ・Increase in company-owned properties and soaring construction costs
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©2025 WORKMAN CO., LTD. All Rights Reserved ●Cash and deposits ・Operating CF : +9,824 million yen ・Investing CF : △6,377 million yen ※Investment in short-term bonds decreased by 2,996 million yen due to rising interest rates ・Payments of dividends: △5,954 million yen ●Accounts receivable - due from FCs ・Inventory of summer and year-round goods has increased due to response to climate change. ●Merchandise (factors for increase/decrease) ・Year-round products are being strategically stockpiled to ensure sales during off-peak times, leading to increased inventory at stores as well as distribution centers. ・This inventory increase is policy-based and no issues are recognized. ●Rise in tangible fixed assets ・A total of 25 newly built stores—22 new stores and 3 S&B stores (of which 21 are company-owned property stores 6 Balance Sheet Factors Changes FY 3/25 Q2 Changes FY 3/25 ・Directly managed/SC stores +632 +299 ・Distribution centers +2,525 +2,960 ・Goods in transit +901 +611 FY 3/26 Q2 Results (Millions of yen) FY 3/2025 Q2 End of FY 3/2025 FY 3/2026 Q2 Change Current assets 114,690 121,066 126,517 +5,451 Cash and deposits 76,698 80,381 77,816 △2,565 Accounts receivable - due from FCs 11,263 12,594 13,055 +461 Merchandise 23,889 24,084 27,948 +3,864 Other 2,839 4,005 7,697 +3,691 Non-current assets 38,334 41,164 43,808 +2,643 Property, plant and equipment 30,171 32,814 35,323 +2,509 Intangible assets 757 1,090 1,173 +83 Other investments 7,405 7,259 7,311 +51 Total assets 153,025 162,231 170,326 +8,095 Current liabilities 23,607 22,145 25,688 +3,542 Non-Current liabilities 4,652 4,783 5,166 +383 Total liabilities 28,259 26,928 30,855 +3,926 Total net assets 124,765 135,302 139,471 +4,169 Total liabilities and net assets 153,025 162,231 170,326 +8,095 (Millions of Yen) Factors of increase/decrease
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©2025 WORKMAN CO., LTD. All Rights Reserved ●FY2026 Q2 Financial Results Overview 7 Briefing Contents
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©2025 WORKMAN CO., LTD. All Rights Reserved (Number of stores) End of FY 3/2025 New store openings S＆B※2 Renovation Excluding increase /decrease ※3 Closures End of FY 3/2026 Q2Roadside SC※2 317 － － － △3 △31 2 △2 283 645 5 5 － 3 31 △2 － 682 62 － － － － △6 － － 56 17 17 13 4 － 6 － － 40 10 － － － － － － － 10 Total ※1 1,051 22 18 4 (3) (37) － △2 1,071 ※1. The Total column shows the number of operating stores, with figures in parentheses excluded from the Total. ※2. SC: Shopping centers S&B: Scrap and Build ※3. This column shows the number of stores that operated as WORKMAN Plus in the past but became subject to S&B or were renovated during the period under review. 8 Store Openings Results Overview 1,071 stores at the end of September 2025 (up 20 stores over end-March 2025) Store openings and renovation in 1H are proceeding according to plan.
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©2025 WORKMAN CO., LTD. All Rights Reserved 8.2 3.9 △ 6.0 △ 12.2 11.6 △ 15.4 0.9 9.4 △ 2.8 1.1 △ 4.2 4.0 2.8 8.0 1.5 △ 15.6 1.9 11.6 △ 1.2 △ 3.5 2.2 0.1 11.4 15.0 3.7 0.1 8.2 1.4 △ 2.1 △ 6.6 △ 11.5 7.8 △ 15.5 △ 4.6 4.4 △ 1.8 0.3 △ 3.9 2.7 △ 0.7 4.3 △ 0.2 △ 14.5 0.0 7.7 △ 2.5 △ 4.0 △ 3.3 △ 4.6 2.6 5.7 1.5 △ 1.6 3.8 6.7 6.2 0.7 △ 0.8 3.5 0.1 5.7 4.8 △ 1.0 0.9 △ 0.3 1.2 3.6 3.6 1.8 △ 1.3 1.9 3.6 1.3 0.5 5.7 4.9 8.6 8.8 2.2 1.7 4.3 △ 18 △ 8 2 12 22 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Rise/fall in sales Rise/fall in number of customers Average customer spending 2023 (％) 2024 9 Rise/Fall in Same-Store Sales, Number of Customers and Average Customer Spending Monthly Trends and Factors 2025 Q1 overview Significant growth driven by mandatory heat stroke prevention measures, rising temperatures, and revised pricing strategies for spring/summer products. FY 3/24 Q2 same-store sales +3.2％ Q3 same-store sales △6.3％ Q4 same-store sales +2.0％ FY 3/25 Q1 same-store sales +0.6％ Q2 same-store sales +4.1％ Results Overview Q3 same-store sales +0.4％ Q4 same-store sales △0.4％ FY 3/26 Q1 same-store sales +9.3％ Q2 overview ・Summer merchandise sold well amid record-breaking heat, but YoY growth was limited due to the high bar set last year. ・Recovery wear drove September sales, and climate change efforts made progress. Q2 same-store sales +3.8％
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©2025 WORKMAN CO., LTD. All Rights Reserved 10 ●Sales at existing stores by prefecture ※ The average number of customers per day is an approximate figure as the number of business days varies depending on the format of store operations. Sales at All Chain Stores 101,574 Million Yen Same stores Sales YoY ■10％ or over ■5％ or over ■0％ or over ☐ YoY decrease Status of Sales Results Overview All chain stores Existing stores Net sales +11.3％ +6.8％ Number of customers +5.8％ +1.6％ Average number of customers per day － ※174 (+3) Average customer spending 3,139yen (+5.3％) 3,145 yen (+5.3％) Unit price per item 1,245 yen (+5.2%) 1,242 yen (+5.0%) Number of items purchased 2.51 items (+0.0％) 2.52 items (+0.2％) ・ Sales increased throughout Japan due to mandatory legal measures for heat stroke prevention and record- breaking extreme heat. ・Utilizing chain stores nationwide, the popularization of recovery wear was a success, boosting sales at existing stores.
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©2025 WORKMAN CO., LTD. All Rights Reserved 100.0 0.1 1.4 1.1 0.5 0.2 1.9 3.8 111.3 1.3 0.9 0.1 FY3/25 Q2 WM Existing stores Pro Existing stores WM Plus New stores WM Plus Existing stores WM Plus S&B 1st year WM Plus S&B 2nd year WM Plus renovation 1st year WM Plus renovation 2nd year Colors・Girl New stores Colors・Girl Existing stores FY3/26 Q2 98.0 100.0 102.0 104.0 106.0 108.0 110.0 112.0 114.0 (％) 11 Sales by Business Category ●Contribution to sales at all chain stores (Monthly cumulative period) YoY (％) +4.6 +8.2 － +7.3 +43.9 +3.7 +11.8 +5.9 － +1.3 +11.3 Number of stores 283 10 16 150 14 55 71 376 42 54 1,071 ※Same-store sales are calculated by excluding sales in months of new store openings and post-renovation renewal openings. ※“WM Plus Existing stores” covers stores newly opened in the WORKMAN Plus format. 26.8% 61.7% 10.4% 1.1% WM Plus Girls / Colors Pro Sales Composition Ratio (based on all chain stores) Results Overview YoY sales numbers are up for all business categories.
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©2025 WORKMAN CO., LTD. All Rights Reserved ※1.Sales are calculated by product. These are not the product of a customer analysis. ※2.Calculations exclude products on manufacturer’s catalogs and some items with low sales volume. 12 Status of Sales (Results by Product) ●Trends in the sales composition ratio by product 57.1% 23.7% 19.2% FY3/26 Q2 Sales Composition Ratio (Categories) ■ Work: Workwear, medical ■ Casual: Casual wear, health care, home furniture ■ Outdoor/sports: Outdoor, sports, motorcycle-related, etc. Results Overview WORK YoY +7.9％ CASUAL YoY +36.4％ OUTDOOR・SPORTS YoY △2.0％ Category FY 3/25 Q2 FY 3/26 Q2 Sales YoY (%) Sales YoY (%) Undergarments・Socks Undergarments, socks, hats, towels, etc. 9,628 +10.6 11,219 +16.5 Casualwear・Sports Sportswear, polo shirts, etc. 14,496 +11.7 18,575 +28.1 Workwear・Outdoor Workwear, outdoor wear, etc. 27,073 +4.0 30,366 +12.2 Women’s・Uniforms White smocks, office uniforms, etc. 7,185 +17.4 8,406 +17.0 Footgear Protective footwear, tabi stocks, high boots, kitchen shoes, etc. 14,240 +4.3 14,185 △0.4 Work supplies Work gloves, protective gear, rainwear, etc. 18,486 △2.1 18,839 +1.9 Other 98 △27.4 △18 － Total 91,209 +5.4 101,574 +11.4 Casual products are demonstrating high growth in association with the accelerated expansion of WORKMAN Colors. ●Sales by category (sales at all chain stores)
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©2025 WORKMAN CO., LTD. All Rights Reserved Sales of PB Products 66,476 Million Yen ・PB ratio 65.4% (YoY +1.3pt) (Millions of yen) Number of items (YoY) Sales value (YoY) Share (％) 534 （△2.7%） 29,783 （+5.8%） 44.8 164 （△24.4%） 8,267 （+11.1%） 12.4 309 （△9.1%） 10,339 （△2.0%） 15.6 821 （+54.6%） 18,085 （+47.0%） 27.2 Total for PB products 1,828 （+12.1%） 66,476 （ +13.7%） 100.0 13 Status of Sales (Sales by Product and Factors) ●New Brand●Sales results by brand Results Overview Unisex Men’s Ladies CASUAL SELECT CLEAN CASUAL OFFICE RELAX
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©2025 WORKMAN CO., LTD. All Rights Reserved 14 19 23 36 40 43 4329 21 19 23 37 47 443 2 1 0 0 0 0 834 861 903 939 952 981 1008 95.0 95.7 95.7 94.2 92.7 91.6 92.1 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0 0 200 400 600 800 1000 1200 FY3/21 FY3/22 FY3/23 FY3/24 FY3/25 FY3/25 Q2 FY3/26 (expected) (％) Number of stores SC Training stores Outsourcing stores (Contract B) Franchise stores (Contract A) FC ratioFormat End- March 2025 Up Down End- September 2025 Franchise stores 974 41 34 981 Outsourcing stores － － － － Training stores 37 35 25 47 SC stores 40 3 － 43 Total 1,051 79 59 1,071 14 ●Format of Store Operations for FY 3/26 Q2 Format of Store Operations ●Number of Stores by Format of Operations Results Overview Corporate franchise stores began operations in October. Ratio of franchise stores: 91.6％ (down 1.1 points YoY)
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©2025 WORKMAN CO., LTD. All Rights Reserved 5.0 6.0 7.0 8.0 9.0 10.0 30 60 90 120 150 180 Q1 Q2 Q3 Q4 FY3/24 Inventories FY3/25 FY3/26 FY3/24 Inventory turnover days FY3/25 FY3/26 FY2/24 Delivery cost ratio FY3/25 FY3/26 50 55 60 65 70 75 80 85 2,500 2,800 3,100 3,400 3,700 4,000 4,300 Q1 Q2 Q3 Q4 FY3/24 Inventories FY3/25 FY3/26 FY3/24 Inventory turnover days FY3/25 FY3/26 (100 millions of yen) (Tens of thousands of yen) (Delivery cost ratio, %) 15 Inventories (Logistics Cost) ●Selling price inventories per store ●DC inventories / delivery cost ratio (Days) (Day) Results Overview ・Inventories of late summer items and year-round products have increased to respond to climate change. ・Inventory composition has improved as autumn/winter products have decreased. Turnover days are also at a good level. Inventory is being increased company-wide as a measure for off-peak times of year, while inventory efficiency remains sound. ・ Inventory levels for seasonal products were comparable to the previous year, while year-round products have increased significantly. ・Inventory optimization has improved inventory turnover and the delivery cost ratio.
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©2025 WORKMAN CO., LTD. All Rights Reserved ●FY2026 Plans 16 Briefing Contents
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©2025 WORKMAN CO., LTD. All Rights Reserved ●Management Policy Plans for FY Ending March 31, 2026 FY 3/26 Plans 17 We will rebuild our management foundations towards sustainable growth by reinforcing workwear and evolving Colors stores. Store Opening Increase store openings, aiming for a 1,500-store network. New store openings: 48 planned ●Open new stores in locations that leverage the strengths of each business category ●Make Plus stores dominant Cultivate markets in major urban centers and small commercial areas ●Expand the network of Colors stores Take on the challenge of new kinds of store operations, e.g. corporate franchising ●Improve existing store sales by implementing S&B Products Develop competitive exclusive products. Review MD taking into account business categories and climate change ●Reinforce workwear Evolve everyday low-price products (EDLP), collaboration projects, etc. ●Strengthen the line-up of comfortable everyday clothing (basic apparel) Colors exclusive product sales ratio: 30％ ⇒ 50％ ●Respond to climate change ・Review MD plans and secure sales during off- peak times of year ・Develop new materials and new functions ●Flexible pricing policy Improve profitability by setting prices based on forward exchange contracts Sales Improve existing store sales. Retain customers by developing the WORKMAN app ●Renovate existing stores Plan to renovate 100-200 stores per year ●Establish operating methods for each business category Standardize sales floors to make operations more efficient ●Develop app ・Provide useful information about collaborations, sales campaigns, etc. ・Link to EC sites and physical stores ●Theme-based product exhibitions Maximize sales by linking with sales floors
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©2025 WORKMAN CO., LTD. All Rights Reserved 18 Store Opening Plans FY 3/26 Plans (Number of stores) End of FY 3/2025 Openings set for FY 3/26 S＆B※2 Renovation Excluding increase/ decrease ※3 Closures End of FY 3/26 Medium/ longer-term goalsRoadside SC※2 317 － － － △7 △55 2 △2 255 200 645 10 10 － 7 55 △2 △3 712 900 62 － － － － △29 － － 33 400 17 39 29 10 － 29 － － 85 10 － － － － － － － 10 － Total※1 1,051 49 39 10 (7) (60) － △5 1,095 1,500 These are the plans as of this moment. They may be altered in the future. ※1. The Total column shows the number of operating stores, with figures in parentheses excluded from the Total. ※2. SC: Shopping centers S&B: Scrap and Build ※3. This column shows the number of stores that operated as WORKMAN Plus in the past but became subject to S&B or were renovated during the period under review. The initial plan has been partly revised, and roadside #WORKMAN GIRL stores are being renovated as Colors.
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©2025 WORKMAN CO., LTD. All Rights Reserved 19FY 3/26 Plans Product Development ✓ Popular items sell out fast • Shifted strategy to mass-produce key products, linking sales promotions and sales floors to boost selling capabilities ✓ High correlation between sales and the weather • ”X Shelter” line for mild and severe winters • The ultimate loungewear: MEDiHEAL ✓ Late to take action in response to climate change • Postpone the launch of winter products from August to October • During off-peak times, showcase year-round items with seasonally appropriate displays Steady progress in implementing measures to tackle internal and external challenges. ●Transform merchandising TASK ACTION Cumulative series sales results as of the end of October 2025: About 1.6 million items 28 million yen *Temporarily out of stock due to higher-than-anticipated sales. ●Develop core products unaffected by seasonality ●Key winter product Further growth in sales is expected in spring and summer 2026 ・Full-scale launch of heavy winter wear began in mid- October. As the sales window is short, the focus is on selling the “X Shelter” line.
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©2025 WORKMAN CO., LTD. All Rights Reserved 15.36 32.61 53.49 58.60 15.08 30.59 56.14 76.75 27.99 53.58 10.00 40.00 70.00 100.00 1Q 2Q 3Q 4Q FY2024 FY2025 FY2026 Forward exchange contracts SPOT Hedging ratio against purchase plan: approximately 90% Proportion of exclusive products at Colors stores: Approximately 40% Product Development ●Forward exchange contracts ●Workman Colors exclusive product ratio As of the end of Sep. 2025 ・Average hedged rate 147.5 yen ・Assumed spot rate 150 yen ・Full-year assumed rate 148 yen (FY ending March 2026 Plan) 20FY 3/26 Plans ・Hedging completed at roughly equal ratios for each quarter ・Forward exchange contracts for FY ending March 2027 are underway Forward exchange contracts and a flexible pricing policy are creating a positive cycle. ・Steady progress in developing exclusive products ・Aiming for a 50% ratio at the end of this fiscal year and 80% at the end of the next fiscal year ●Progress in profit related to overseas purchases FYE March 31, 2026 Plan for profit related to overseas purchases: Approximately 10.3 billion yen (Cumulative profit related to overseas purchases) ・Stabilized profit levels through enhanced foreign exchange hedging ・Performance exceeded plans thanks to an increase in transactions
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©2025 WORKMAN CO., LTD. All Rights Reserved Sales Strategy 21FY 3/26 Plans Maximize sales through a three-pronged sales strategy (manufacturing, promotion, and sales). ●Integration of sales floors and promotions ●WORKMAN app ・For key products, highlight unique advantages by coordinating with sales promotions and secure sufficient inventory and sales floor space. ・Expand strategic promotions to establish a framework for selling high-spec (high-priced) items. This initiative enhances sales capabilities and expands the customer base. Registered app users One month after release: approximately 300,000 users (as of September 30, 2025) ・Pre-orders for trending items: approximately 250 million yen ⇒App sales support franchise stores, as all sales are for in-store pickup ⇒Provides fair purchasing opportunities, aiming to boost customer satisfaction ・Improved ability to disseminate information in a timely way through feature pages, etc.
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©2025 WORKMAN CO., LTD. All Rights Reserved 22 Plans for the Fiscal Year Ending March 2026 FY 3/26 Plans The full-year forecast was revised upwards in view of strong first-half performance. ・SG&A: Reflected additional costs for WORKMAN Colors renovations and external warehouses, etc. ・Due to rising labor costs and inflation, allocated part of headquarters profit to franchise store gross profit and increased franchise store profit distribution. （Millions of yen） FY 3/2025 FY 3/2026 Initial Plan FY 3/2026 Revision Plan Change Amount Changes （％） YoY （％） Sales at all chain stores 183,132 192,970 201,800 +8,830 +4.6 +10.2 Sales to directly managed stores 17,215 20,814 22,300 +1,486 +7.1 +29.5 Sales to franchise stores 165,917 172,155 179,500 +7,344 +4.3 +8.2 （Same store sales） +0.8 +5.4 － － － Total operating revenue 136,933 147,152 155,000 +7,848 +5.3 +13.2 Cost of sales 85,771 90,648 95,410 +4,761 +5.3 +11.2 SG&A 26,768 30,497 31,390 +892 +2.9 +17.3 Operating profit 24,394 26,005 28,200 +2,195 +8.4 +15.6 Ordinary profit 24,904 26,760 29,000 +2,240 +8.4 +16.4 Net income 16,892 18,100 19,700 +1,600 +8.8 +16.6 EPS 206.99 yen 221.79 yen 241.39 yen +19.60 yen － －
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■We have prepared this document solely for the purpose of facilitating understanding of WORKMAN, and not for the purpose of soliciting investment in the Company. As such, investors are advised to make investment decisions at their own discretion. ■ Whereas every effort has been made to ensure the accuracy of this document, we make no guarantees regarding the completeness thereof. Accordingly, WORKMAN bears no responsibility whatsoever for any losses or damages arising in relation to information contained herein. ■Financial results forecasts, business plans and other forms of forward-looking statements contained herein have been prepared based on information available to WORKMAN as of the date on which this document was prepared. However, please be aware that actual financial results may vary greatly from the forward-looking statements herein as a result of substantial changes that may occur with respect to the business environment. WORKMAN CO., LTD. Securities code: 7564 (STANDARD) Contact Information: IR Group, Finance Division TEL：+813-3847-8190 E-mail：wm_seibi@workman.co.jp https：//www.workman.co.jp/