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 discrepancy between this translated document and the Japanese original, the original shall prevail. October 31, 2025 CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd FFFFFiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll RRRRReeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee SSSSSiiiiixxxxx MMMMMooooonnnnnttttthhhhhsssss EEEEEnnnnndddddeeeeeddddd SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555 (((((UUUUUnnnnndddddeeeeerrrrr JJJJJaaaaapppppaaaaannnnneeeeessssseeeee GGGGGAAAAAAAAAAPPPPP))))) Company name: ARGO GRAPHICS Inc. Listing: Tokyo Stock Exchange Securities code: 7595 URL: https://corp.argo-graph.co.jp Representative: Yoshimaro Fujisawa Chairman and CEO Inquiries: Kunio Hasebe Senior Managing Director Telephone: +81-3-5641-2018 Scheduled date to file semi-annual securities report: November 7, 2025 Scheduled date to commence dividend payments: December 5, 2025 Preparation of supplementary material on financial results: None Holding of financial results briefing: Yes (Yen amounts are rounded down to millions, unless otherwise noted.) 11111..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee sssssiiiiixxxxx mmmmmooooonnnnnttttthhhhhsssss eeeeennnnndddddeeeeeddddd SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555 (((((fffffrrrrrooooommmmm AAAAAppppprrrrriiiiilllll 11111,,,,, 22222000002222255555 tttttooooo SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555))))) (((((11111))))) CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd ooooopppppeeeeerrrrraaaaatttttiiiiinnnnnggggg rrrrreeeeesssssuuuuullllltttttsssss (((((cccccuuuuummmmmuuuuulllllaaaaatttttiiiiivvvvveeeee))))) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2025 33,780 0.5 5,039 2.3 5,253 1.4 3,479 0.3 September 30, 2024 33,615 18.5 4,924 9.7 5,182 10.5 3,469 11.4 Note: Comprehensive income For the six months ended September 30, 2025: ¥ 5,909 million [ 26.0 %] For the six months ended September 30, 2024: ¥ 4,689 million [(11.5) %] Basic earnings per share Diluted earnings per share Six months ended Yen Yen September 30, 2025 45.23 - September 30, 2024 40.72 - Note: The Company conducted a one-for-four stock split effective October 1, 2025. Therefore, Basic earnings per share has been calculated on the assumption that the share split occurred at the beginning of the previous fiscal year. (((((22222))))) CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll pppppooooosssssiiiiitttttiiiiiooooonnnnn Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % September 30, 2025 72,308 45,592 59.6 March 31, 2025 86,490 59,669 66.1 Reference: Equity As of September 30, 2025: ¥ 43,129 million As of March 31, 2025: ¥ 57,188 million
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22222..... CCCCCaaaaassssshhhhh dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 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 - 50.00 - 60.00 110.00March 31, 2025 Fiscal year ending - 80.00March 31, 2026 Fiscal year ending March 31, 2026 (Forecast) - (20.00) - Note: Revisions to the forecast of cash dividends most recently announced: None Note: Breakdown of the second quarter dividend for the fiscal year ending March 31, 2026 : Commemorative dividend - yen Special dividend - yen Note: The Company conductsd a one-for-four stock split effective October 1, 2025. Therefore, for the FY ending March 2026 (forecast), the amount is stated based on the effect of the stock split, and the total annual dividend per share is " - ". 33333..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuulllllttttt fffffooooorrrrreeeeecccccaaaaassssstttttsssss fffffooooorrrrr ttttthhhhheeeee fffffiiiiissssscccccaaaaalllll yyyyyeeeeeaaaaarrrrr eeeeennnnndddddiiiiinnnnnggggg MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222266666 (((((fffffrrrrrooooommmmm AAAAAppppprrrrriiiiilllll 11111,,,,, 22222000002222255555 tttttooooo MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222266666))))) (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 73,700 6.0 10,750 5.4 11,330 3.8 7,530 1.1 103.51 Note: Revisions to the financial result forecast most recently announced: None Note: The Company conducted a one-for-four stock split effective October 1, 2025. Therefore, Basic earnings per share (forecast) has been calculated on the assumption that the share split occurred at the beginning of this fiscal year. ***** NNNNNooooottttteeeeesssss (1) Significant changes in the scope of consolidation during the period: None Newly included: - companies ( ) Excluded: - companies ( ) (2) Adoption of accounting treatment specific to the preparation of semi-annual 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 September 30, 2025 80,000,000 shares As of March 31, 2025 89,416,000 shares (ii) Number of treasury shares at the end of the period As of September 30, 2025 11,289,508 shares As of March 31, 2025 4,189,508 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended September 30, 2025 76,930,159 shares Six months ended September 30, 2024 85,210,887 shares * Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters
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Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet (Thousands of yen) As of March 31, 2025 As of September 30, 2025 Assets Current assets Cash and deposits 37,896,121 22,236,123 Notes and accounts receivable - trade, and contract assets 16,600,582 14,271,880 Electronically recorded monetary claims - operating 2,945,210 1,504,173 Merchandise 2,207,203 2,195,119 Work in process 362,785 222,260 Raw materials and supplies 1,760 1,505 Other 1,778,786 1,627,326 Total current assets 61,792,449 42,058,389 Non-current assets Property, plant and equipment 1,093,883 2,208,109 Intangible assets Goodwill 298,204 270,859 Other 45,295 56,258 Total intangible assets 343,500 327,118 Investments and other assets Investment securities 21,185,887 25,647,843 Long-term time deposits 900,000 900,000 Other 1,174,867 1,166,598 Total investments and other assets 23,260,755 27,714,442 Total non-current assets 24,698,138 30,249,670 Total assets 86,490,588 72,308,059 Liabilities Current liabilities Accounts payable - trade 12,875,824 11,961,977 Income taxes payable 1,898,876 1,522,554 Provision for bonuses 834,516 801,695 Provision for bonuses for directors (and other officers) 141,000 36,000 Other 4,406,202 4,455,490 Total current liabilities 20,156,419 18,777,718 Non-current liabilities Retirement benefit liability 3,082,870 3,060,946 Provision for share awards 467,092 509,443 Provision for share awards for directors (and other officers) 174,989 165,891 Other 2,939,305 4,201,335 Total non-current liabilities 6,664,258 7,937,617 Total liabilities 26,820,678 26,715,336
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(Thousands of yen) As of March 31, 2025 As of September 30, 2025 Net assets Shareholders' equity Share capital 1,873,136 1,873,136 Capital surplus 2,136,715 2,044,255 Retained earnings 44,255,076 37,136,062 Treasury shares (1,000,208) (10,188,714) Total shareholders' equity 47,264,719 30,864,739 Accumulated other comprehensive income Valuation difference on available-for-sale securities 9,329,695 11,726,517 Remeasurements of defined benefit plans 191,905 235,901 Foreign currency translation adjustment 401,875 302,355 Total accumulated other comprehensive income 9,923,476 12,264,774 Non-controlling interests 2,481,713 2,463,208 Total net assets 59,669,909 45,592,723 Total liabilities and net assets 86,490,588 72,308,059
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Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Thousands of yen) For the six months ended September 30, 2024 For the six months ended September 30, 2025 Net sales 33,615,301 33,780,751 Cost of sales 25,081,440 25,002,625 Gross profit 8,533,861 8,778,126 Selling, general and administrative expenses 3,609,072 3,738,420 Operating profit 4,924,788 5,039,706 Non-operating income Interest income 49,150 77,893 Dividend income 162,536 190,378 Foreign exchange gains 9,402 - Other 44,138 22,009 Total non-operating income 265,228 290,281 Non-operating expenses Share of loss of entities accounted for using equity method 5,537 8,935 Loss on investments in investment partnerships 1,073 4,501 Foreign exchange losses - 22,422 Commission for purchase of treasury shares - 38,217 Other 749 2,046 Total non-operating expenses 7,361 76,123 Ordinary profit 5,182,655 5,253,864 Extraordinary losses Loss on valuation of investment securities - 15,000 Total extraordinary losses - 15,000 Profit before income taxes 5,182,655 5,238,864 Income taxes - current 1,484,358 1,517,575 Income taxes - deferred 144,347 156,994 Total income taxes 1,628,705 1,674,569 Profit 3,553,949 3,564,294 Profit attributable to non-controlling interests 84,114 84,731 Profit attributable to owners of parent 3,469,835 3,479,562
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Semi-annual Consolidated Statement of Comprehensive Income (Thousands of yen) For the six months ended September 30, 2024 For the six months ended September 30, 2025 Profit 3,553,949 3,564,294 Other comprehensive income Valuation difference on available-for-sale securities 1,010,606 2,396,822 Remeasurements of defined benefit plans, net of tax (19,109) 43,995 Foreign currency translation adjustment 117,035 (76,404) Share of other comprehensive income of entities accounted for using equity method 26,530 (19,156) Total other comprehensive income 1,135,062 2,345,256 Comprehensive income 4,689,012 5,909,551 Comprehensive income attributable to Comprehensive income attributable to owners of parent 4,582,139 5,848,345 Comprehensive income attributable to non-controlling interests 106,872 61,205