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1 FY2025 Q3 Financial Results February 6, 2026 (Securities code: 7721)
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©TOKYO KEIKI INC. All Rights Reserved 2 Key Takeaways FY2025 Q3 By the contribution of the Defense & Communications Equipment Business, net sales and operating profit increased year on year. Net sales ¥39,748mn Up ¥5,507mn YOY Operating profit ¥2,038mn Up ¥984mn YOY Full-Year Forecast for FY2025 Revised the prior earnings forecast upward. Net sales ¥60,400mn Up ¥100mn YOY Operating profit ¥4,500mn Up ¥500mn YOY The order backlog reached a record high. FY2025 Q2 ¥61,885mn FY2025 Q3 ¥64,043mn
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©TOKYO KEIKI INC. All Rights Reserved 3 Contents 1. Summary of Financial Results for Q3 of FY2025 2. Full-Year Forecast for FY2025 3. Topics References ◼ Business Trends ◼ Our Businesses 1. Summary of Financial Results for Q3 of FY2025
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©TOKYO KEIKI INC. All Rights Reserved 4 Net Sales and P/L (Million yen) FY2024 Q3 FY2025 Q3 Change Amount % Net sales 34,241 39,748 +5,507 +16.1% Operating profit 1,054 2,038 +984 +93.4% Ordinary profit 1,229 2,184 +956 +77.8% Profit attributable to owners of parent 932 1,739 +806 +86.5% Exchange rate (JPY/USD) 152.12 148.85 1. Summary of Financial Results for Q3 of FY2025 ◼ Net sales rose year on year, driven by strong growth in the Defense & Communications Equipment Business and higher revenue across all other segments, including the Marine Systems Business. ◼ Operating profit increased significantly thanks to contributions from the Defense & Communications Equipment Business.
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©TOKYO KEIKI INC. All Rights Reserved (113) Analysis of Changes in Operating Profit 1,054 2,038 FY2025 Q3 FY2024 Q3 Increase innet sales Increase in SG&A expenses Impact of exchange rate Increase in R&D cost Improvement in cost-of-sales ratio (Million yen) *Estimates Operating profit +984 +1,425* +364* (44)* (649) ◼ Increase in net sales : Net sales increased in the Marine Systems Business and the Defense & Communications Equipment Business. ◼ Impact of exchange rate: The yen strengthened to 148.85 yen per USD compared to 152.12 yen per USD in the same period last year. 1. Summary of Financial Results for Q3 of FY2025 5
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©TOKYO KEIKI INC. All Rights Reserved 6 1. Summary of Financial Results for Q3 of FY2025 Net Sales and Operating Profit (Loss) by Segment *Segment sales and operating profit are presented on a pre-adjustment basis. (Million yen) FY2024 Q3 FY2025 Q3 Change Amount % Marine Systems Net Sales 8,858 9,955 +1,096 +12.4% Operating Profit 1,158 1,066 -92 -8.0% Hydraulics and Pneumatics Net Sales 8,376 8,498 +121 +1.4% Operating Profit 179 37 -142 -79.5% Fluid Measurement Equipment Net Sales 3,056 3,293 +237 +7.8% Operating Profit 183 177 -6 -3.1% Defense & Communications Equipment Net Sales 11,962 15,683 +3,721 +31.1% Operating Profit (367) 867 +1,234 － Others Net Sales 1,988 2,319 +331 +16.6% Operating Profit (44) (56) -12 － Total Net Sales 34,241 39,748 +5,507 +16.1% Operating Profit 1,054 2,038 +984 +93.4%
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©TOKYO KEIKI INC. All Rights Reserved • Net sales increased year on year due to steady sales in the construction machinery market and the machine tool market despite sluggish sales in the plastic processing machinery market. • Although net sales increased, operating profit decreased year on year due to a higher cost of sales ratio resulting from changes in the product mix caused by factors such as a decrease in deliveries of hydraulic application equipment. • Net sales increased year on year due to steady demand for equipment for new shipbuilding, as well as continued high demand for maintenance services following the previous period. • Despite an increase in net sales, operating profit decreased year on year due to a rise in selling, research and development, and other expenses. 7 Net Sales and Operating Profit (Loss) by Segment *Segment sales and operating profit are presented on a pre-adjustment basis. Marine Systems Hydraulics and Pneumatics (Million yen) (Million yen) 1. Summary of Financial Results for Q3 of FY2025 Q3 Net sales Q3 Operating profit Q3 Net sales Q3 Operating profit
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©TOKYO KEIKI INC. All Rights Reserved 8 Net Sales and Operating Profit (Loss) by Segment Fluid Measurement Equipment Defense & Communications Equipment (Million yen) (Million yen) *Segment sales and operating profit are presented on a pre-adjustment basis. 1. Summary of Financial Results for Q3 of FY2025 Q3 Net sales Q3 Operating profit Q3 Net sales Q3 Operating profit • Net sales increased year on year, driven by strong performance of the new battery-powered flowmeters for the private-sector market and fire extinguishing systems for multistory parking garages. • Although the cost of sales ratio rose partly owing to changes in the product mix, operating profit remained flat year on year due to an increase in net sales. • Net sales significantly increased year on year, thanks to an increase in Japanese national defense budgets that led to a strong performance in deliveries of avionics equipment, naval onboard equipment, etc. • An increase in net sales and an improvement in cost of sales ratio due to factors such as changes in the product mix led to a significant increase in operating profit.
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©TOKYO KEIKI INC. All Rights Reserved 9 Net Sales and Operating Profit (Loss) by Segment Others (Inspection/Railroad) (Million yen) *Segment sales and operating profit are presented on a pre-adjustment basis. 1. Summary of Financial Results for Q3 of FY2025 Q3 Net sales Q3 Operating profit • Net sales increased year on year, thanks to steady performance of the Railway Maintenance Business. • Although net sales increased, operating loss expanded as a result of higher raw material prices and increased R&D expenses.
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©TOKYO KEIKI INC. All Rights Reserved 10 Status of Orders Received Orders Received Order Backlog (Million yen) FY2024 Q3 FY2025 Q3 Change FY2024 Q3 FY2025 Q3 Change Overview Amount % Amount % Marine Systems 9,705 10,779 +1,074 +11.1% 5,263 6,529 +1,266 +24.1% Both orders received and order backlog increased due to strong demand for new shipbuilding and continued high demand for maintenance services, consistent with the previous fiscal year. Hydraulics and Pneumatics 8,763 8,939 +176 +2.0% 3,785 3,832 +46 +1.2% Despite sluggish demand in the plastics processing machinery market, both orders received and the order backlog increased due to steady trends in the construction machinery market and demand in overseas markets moved into a recovery phase. Fluid Measurement Equipment 4,441 4,800 +359 +8.1% 2,907 3,424 +517 +17.8% Although large-scale projects decreased in the Fire extinguishing systems business, both orders received and order backlog increased due to strong demand in the Measuring instruments business. Defense & Communications Equipment 22,123 18,507 -3,615 -16.3% 43,812 46,070 +2,258 +5.2% In the Defense Business, orders received decreased because large-scale development projects and similar projects were recorded in the previous fiscal year, whereas there were no such projects in the current fiscal year. The order backlog reached a record high. Others 2,571 4,367 +1,796 +69.9% 2,317 4,189 +1,872 +80.8% In the Railway Maintenance business, both orders received and the order backlog increased significantly due to strong sales of various equipment in addition to the mainstay inspection cars and new inertial track geometry measurement systems. Total 47,603 47,393 -211 -0.4% 58,084 64,043 +5,960 +10.3% Order backlog reached a record high. 10 1. Summary of Financial Results for Q3 of FY2025
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©TOKYO KEIKI INC. All Rights Reserved 11 Contents 1. Summary of Financial Results for Q3 of FY2025 2. Full-Year Forecast for FY2025 3. Topics References ◼ Business Trends ◼ Our Businesses 2. Full-Year Forecast for FY2025
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©TOKYO KEIKI INC. All Rights Reserved 12 Status of External Environmental Risks 2. Full-Year Forecast for FY2025 Occurrences Business to be affected Impact and Responses Degree of Impact Policies of the U.S. administration • Higher tariffs • Direct sales to the U.S. ✓ Others (U.S. sales subsidiary) • Seek to optimize selling prices to secure profits despite a negligible amount of net sales in the U.S. Low • Indirect impact ✓ All Business • Delays in obtaining parts due to the impact of the U.S.-China trade friction. In particular, if the tightening of rare earth export restrictions is prolonged, there are concerns about the impact on production in the following fiscal year and beyond. • Strengthen the production system through earlier parts procurement, bulk purchasing to secure components, and changing suppliers. Medium ✓ Marine Systems • Ocean freight movement has slowed down.(–). • Maintenance services to be affected by longer transportation distances due to changes in import and export countries (+). Unknown ✓ Hydraulics and Pneumatics • Sales of plastic processing machines decreased due to weak capital expenditures, particularly in the automotive industry. • Expand sales in other markets. Medium Exchange rate • Sharp currency fluctuations ✓ Marine Systems ✓ Hydraulics and Pneumatics • Revised the initial forecast of 140 yen per USD to 150 yen per USD for the second half. If the yen depreciates Marine Systems: foreign currency sales (+) Hydraulics and Pneumatics: components purchased from overseas (–) Medium Chinese economy • Economic stagnation impacting sales ✓ Marine Systems ✓ Hydraulics and Pneumatics • Impact on sales to the Chinese domestic coastal vessels. Expand sales of high value-added products. • Expand sales in other regions. Medium
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©TOKYO KEIKI INC. All Rights Reserved FY2025 Full-year Earnings Forecast ◼ Revised upward the forecasts that were published on November 7, 2025, taking into account the cumulative results for the first nine months and future business trends. The impact of the headquarters relocation costs reduced operating profit by 400 million yen. (Million yen) Forecast Previous Forecast (November 7) FY2024 Results FY2025 Forecast Change Forecast Change Amount% % Amount % Net sales 57,650 60,400 +2,750 +4.8% 60,300 +100 +0.2% Operating profit 4,856 4,500 -356 -7.3% 4,000 +500 +12.5% Ordinary profit 5,001 4,600 -401 -8.0% 4,060 +540 +13.3% Profit attributable to owners of parent 3,797 3,210 -587 -15.5% 2,860 +350 +12.2% Operating profit margin 8.4% 7.5% -1.0pt 6.6% +0.8pt Exchange rate and exchange rate sensitivity Currency Exchange rate Sensitivity in Q4 FY2024 Result FY2025 Basis Operating profit Result through Q1 to Q3 Forecast in Q4 USD 152.64 148.85 150.00 ¥1 depreciation +¥4 million 13 ◼ Rate against the US dollar set at the beginning: ¥140 ◼ Rate against the US dollar set for Q4: ¥150 2. Full-Year Forecast for FY2025 ※ ※
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©TOKYO KEIKI INC. All Rights Reserved 14 Earnings Forecast by Segment (Million yen) Forecast Previous Forecast (November 7) OutlookFY2024 Results FY2025 Forecast Change Forecast Amount %Amount % Marine Systems Net Sales 12,529 13,500 +971 +7.8% 13,500 0 － • Sales for new shipbuilding is expected to continue increasing. • R&D and investments in human resources will be continued for future growth. • The exchange rate forecast for the fourth quarter is maintained at 150 yen per USD. Operating Profit 1,551 1,350 -201 -13.0% 1,350 0 － Hydraulics and Pneumatics Net Sales 11,460 11,700 +240 +2.1% 11,900 -200 -1.7% • Due to a decrease in deliveries of large hydraulic application equipment in the previous fiscal year and the limited contribution to current-year results despite a recovery in orders in the construction and specially-equipped vehicle and plastic processing machinery markets, the forecast has been revised downward. Operating Profit 197 100 -97 -49.3% 120 -20 -16.7% Fluid Measurement Equipment Net Sales 5,019 5,300 +281 +5.6% 5,200 +100 +1.9% • Revised upward due to expected steady demand for new installations of measuring instruments and fire extinguishing systems.Operating Profit 789 750 -39 -5.0% 610 +140 +23.0% Defense & Communications Equipment Net Sales 24,394 25,700 +1,306 +5.4% 25,500 +200 +0.8% • Net sales in the Defense Business remain at high levels. Operating profit increased as changes in the product mix improved the cost ratio. • The Communications Equipment Business will expected to maintain its initial plan for the period, including delivery of mobile satellite communications antenna stabilizers, for which orders were received in the previous fiscal year. Operating Profit 1,635 1,900 +265 +16.2% 1,520 +380 +25.0% Others Net Sales 4,247 4,200 -47 -1.1% 4,200 0 － • Sales of ultrasonic rail inspection cars for the Railway Maintenance Business are expected to be delivered in the fourth quarter as planned at the beginning of the period.Operating Profit 756 480 -276 -36.5% 480 0 － Total Net Sales 57,650 60,400 +2,750 +4.8% 60,300 +100 +0.2% • Both net sales and operating profit will be revised upward. Operating Profit 4,856 4,500 -356 -7.3% 4,000 +500 +12.5% *Segment sales and operating profit are presented on a pre-adjustment basis ） 2. Full-Year Forecast for FY2025
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©TOKYO KEIKI INC. All Rights Reserved 15 Shareholder Returns Dividends trends Payout ratio and DOE trends Basic Dividend Policy ⚫ To achieve TOKYO KEIKI Vision 2030 and enhance corporate value, we implement an optimal shareholder returns policy, being mindful of our optimal capital structure—while prioritizing investment for growth and considering the balance with our financial foundation. ⚫ For annual dividends, we aim for stable and consistent shareholder returns, taking account of past dividend performance. Dividends For FY2025 under review ¥40.00 * Record high for three consecutive years since FY2000 Shareholder Benefits ⚫ Points are awarded based on the number of shares held by eligible shareholders. ⚫ These points can be exchanged for preferred products on our dedicated website for shareholders, “TOKYO KEIKI Premium Benefits Club.” ⚫ For details, please refer to our exclusive website for shareholders: https://tokyokeiki.premium-yutaiclub.jp/ Payout ratio DOE (Dividend on equity) Annual dividends Commemorative dividends (Yen) (Plan) 2. Full-Year Forecast for FY2025
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©TOKYO KEIKI INC. All Rights Reserved 16 Contents 1. Summary of Financial Results for Q3 of FY2025 2. Full-Year Forecast for FY2025 3. Topics References ◼ Business Trends ◼ Our Businesses 3. Topics
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©TOKYO KEIKI INC. All Rights Reserved "INDO PACIFIC 2025" was held in Sydney, Australia, from November 4 to 6, 2025. We exhibited in a section of the Acquisition, Technology & Logistics Agency (ATLA) booth at "INDO PACIFIC 2025," jointly with the public and private sectors to showcase the advanced technological capabilities of Japan's defense equipment to the international community. 1. Participated in an international exhibition "INDO PACIFIC 2025" • An international maritime and defense exposition, celebrating the 25th anniversary since it was first held in 2000, was held on the largest scale in its history. • More than 28,000 visitors from defense, industry, government, and maritime sectors worldwide gathered at the exposition. • The number of exhibiting companies increased significantly to more than 1,000, and a wide range of cutting-edge technologies and international collaborations were showcased. Overview of INDO PACIFIC 2025 INDO PACIFIC 2025 official website top page Scene from the exposition Main Exhibits (Including Panel Displays) Marine autopilots for steering systems, such as automatic rudders, etc. Inertial navigation system using high- precision ring laser gyro, installed on submarines that cannot use any external signals such as GPS for azimuth measurement Radar warning receivers that instantly analyze radio waves around aircraft and warn pilot of threat radar signals Photo courtesy of Satoshi Akatsuka, IKAROS PUBLICATIONS, LTD. 3. Topics 17
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©TOKYO KEIKI INC. All Rights Reserved 2. Issued the integrated report "TOKYO KEIKI REPORT 2025" In December 2025, we published our integrated report "TOKYO KEIKI REPORT 2025." Starting this fiscal year, we have issued an integrated report in place of our conventional sustainability report in order tocommunicate the business activities of our Group in an easier-to-understand manner. We hope that this report will help our stakeholders gain a better understanding of our Group's sustainability management and efforts to enhance our corporate value. Link to "TOKYO KEIKI REPORT 2025" Featured Content The Future of TOKYO KEIKI as Told by Company Presidents Growth drivers Venturing into Space Business *Head of Defense Business 3. Topics 18
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©TOKYO KEIKI INC. All Rights Reserved 19 Contents 1. Summary of Financial Results for Q3 of FY2025 2. Full-Year Forecast for FY2025 3. Topics References ◼ Business Trends ◼ Our Businesses References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved 20 References: Business Trends Changes in Net Sales and Operating Profit Net sales Operating profit(Million yen)(Million yen) Q3 Full year (Million yen) FY2021-Q3 FY2022-Q3 FY2023-Q3 FY2024-Q3 FY2025-Q3 Change Amount % Net sales 28,404 29,419 30,704 34,241 39,748 +5,507 +16.1% Operating profit 293 (667) 168 1,054 2,038 +984 +93.4% Ordinary profit 577 (281) 346 1,229 2,184 +956 +77.8% Profit attributable to owners of parent 507 (179) 118 932 1,739 +806 +86.5%
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©TOKYO KEIKI INC. All Rights Reserved 21 References: Business Trends Changes in Net Sales by Segment Q3 Full year Marine Systems Hydraulics and Pneumatics Fluid Measurement Equipment Defense & Communications Equipment Others *Segment sales are presented on a pre-adjustment basis. (Million yen) (Million yen) FY2021-Q3 FY2022-Q3 FY2023-Q3 FY2024-Q3 FY2025-Q3 Change Amount % Marine Systems 6,347 7,110 8,162 8,858 9,955 +1,096 +12.4% Hydraulics & Pneumatics 8,525 8,526 8,497 8,376 8,498 +121 +1.4% Fluid Measurement Equipment 2,508 2,390 2,690 3,056 3,293 +237 +7.8% Defense & Communications Equipment 9,239 9,221 9,089 11,962 15,683 +3,721 +31.1% Others 1,785 2,170 2,266 1,988 2,319 +331 +16.6%
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©TOKYO KEIKI INC. All Rights Reserved 22 Marine Systems Hydraulics and Pneumatics Fluid Measurement Equipment Defense & Communications Equipment Others *Segment operating profits are presented on a pre-adjustment basis. References: Business Trends Changes in Operating Profit by Segment (Million yen) Q3 Full year (Million yen) FY2021-Q3 FY2022-Q3 FY2023-Q3 FY2024-Q3 FY2025-Q3 Change Amount % Marine Systems 305 439 807 1,158 1,066 -92 -8.0％ Hydraulics & Pneumatics (19) (259) 78 179 37 -142 -79.5% Fluid Measurement Equipment 131 (61) 62 183 177 -6 -3.1% Defense & Communications Equipment 5 (734) (863) (367) 867 +1,234 － Others (72) 20 149 (44) (56) -12 －
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©TOKYO KEIKI INC. All Rights Reserved Full year 41,510 44,296 47,166 57,650 60,400 (Forecast) 23 FY2025FY2022 FY2024FY2023FY2021 (Million yen) References: Business Trends Quarterly Changes in Net Sales
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©TOKYO KEIKI INC. All Rights Reserved Full year 1,635 1,312 2,768 4,856 4,500 (Forecast) 24 FY2025FY2022 FY2024FY2023FY2021 (Million yen) References: Business Trends Quarterly Changes in Operating Profit
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©TOKYO KEIKI INC. All Rights Reserved 25 Net sales Operating profit (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Net Sales and Operating Profit by Segment [Marine Systems] References: Business Trends FY2021 FY2022 FY2023 FY2024 FY2025 Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Q1 2,019 15 2,078 8 2,458 180 3,022 400 3,140 307 Q2 2,204 162 2,320 158 2,949 391 2,918 376 3,125 365 Q3 2,124 128 2,712 273 2,755 236 2,918 382 3,690 394 Q4 2,353 83 2,590 126 2,854 199 3,671 393 Full year 8,700 388 9,700 565 11,016 1,006 12,529 1,551 (Forecast) 13,500 (Forecast) 1,350
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©TOKYO KEIKI INC. All Rights Reserved 26 FY2021 FY2022 FY2023 FY2024 FY2025 Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Q1 2,835 (19) 2,819 (88) 2,644 (70) 2,515 (39) 2,653 (116) Q2 2,688 (41) 2,867 (52) 2,923 34 2,837 66 2,934 106 Q3 3,002 41 2,840 (119) 2,930 114 3,024 152 2,911 47 Q4 3,001 (96) 3,132 (9) 3,178 195 3,084 18 Full year 11,526 (115) 11,658 (268) 11,675 273 11,460 197 (Forecast) 11,700 (Forecast) 100 Net sales Operating profit (Million yen) FY2025FY2022 FY2024FY2023FY2021 References: Business Trends Quarterly Changes in Net Sales and Operating profit by Segment [Hydraulics and Pneumatics]
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©TOKYO KEIKI INC. All Rights Reserved 27 FY2021 FY2022 FY2023 FY2024 FY2025 Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Q1 597 (130) 583 (142) 597 (132) 618 (174) 830 (146) Q2 854 52 751 (29) 915 8 1,045 44 923 (11) Q3 1,057 209 1,056 110 1,178 186 1,393 313 1,540 334 Q4 1,924 784 2,062 588 2,082 671 1,963 606 Full year 4,432 915 4,452 527 4,772 733 5,019 789 (Forecast) 5,300 (Forecast) 750 Net sales Operating profit (Million yen) FY2025FY2022 FY2024FY2023FY2021 References: Business Trends Quarterly Changes in Net Sales and Operating profit by Segment [Fluid Measurement Equipment]
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©TOKYO KEIKI INC. All Rights Reserved 28 FY2021 FY2022 FY2023 FY2024 FY2025 Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Q1 2,126 (266) 2,976 (175) 3,208 (329) 2,077 (472) 3,327 (254) Q2 3,874 335 2,630 (301) 2,156 (398) 4,162 (266) 6,056 572 Q3 3,239 (64) 3,615 (258) 3,725 (136) 5,723 371 6,300 549 Q4 4,645 307 5,544 640 7,096 1,225 12,432 2,002 Full year 13,884 312 14,765 (94) 16,185 362 24,394 1,635 (Forecast) 25,700 (Forecast) 1,900 Net sales Operating profit (Million yen) FY2025FY2022 FY2024FY2023FY2021 References: Business Trends Quarterly Changes in Net Sales and Operating profit by Segment [Defense & Communications Equipment]
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©TOKYO KEIKI INC. All Rights Reserved 29 FY2021 FY2022 FY2023 FY2024 FY2025 Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Net sales Operating profit Q1 450 (101) 469 (111) 510 (111) 460 (170) 598 (99) Q2 732 59 1,097 168 840 74 926 154 839 38 Q3 603 (30) 604 (37) 916 186 602 (28) 882 5 Q4 1,181 322 1,548 655 1,251 353 2,259 800 Full year 2,966 250 3,718 675 3,517 502 4,247 756 (Forecast) 4,200 (Forecast) 480 Net sales Operating profit (Million yen) FY2025FY2022 FY2024FY2023FY2021 References: Business Trends Quarterly Changes in Net Sales and Operating profit by Segment [Others]
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©TOKYO KEIKI INC. All Rights Reserved 30 FY2021 FY2022 FY2023 FY2024 FY2025 Q1 23,804 26,616 36,085 50,055 58,487 Q2 23,031 28,136 41,349 54,750 61,885 Q3 24,528 29,668 45,512 58,084 64,043 Q4 26,003 33,015 44,720 56,408 26,003 23,804 23,031 24,528 26,616 28,136 29,668 33,015 36,085 41,349 45,512 44,720 50,055 54,750 58,084 Quarterly Changes in Order Backlog References: Business Trends (Million yen) FY2021 FY2023 FY2025FY2024FY2022 56,408 58,487 61,885 64,043
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©TOKYO KEIKI INC. All Rights Reserved 31 FY2021 FY2022 FY2023 FY2024 FY2025 Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Q1 2,489 2,747 2,231 3,502 2,540 4,246 3,271 4,665 3,392 5,957 Q2 2,380 2,923 2,679 3,860 2,752 4,050 3,399 5,146 3,822 6,654 Q3 2,386 3,185 2,770 3,919 2,896 4,190 3,035 5,263 3,564 6,529 Q4 2,516 3,348 2,836 4,164 3,080 4,416 4,112 5,705 Full year 9,772 3,348 10,516 4,164 11,268 4,416 13,817 5,705 Orders Received Order Backlog (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Order Backlog by Segment [Marine Systems] References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved 32 FY2021 FY2022 FY2023 FY2024 FY2025 Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Q1 3,198 3,022 3,105 3,547 2,918 3,713 2,848 3,732 2,814 3,551 Q2 2,946 3,281 2,778 3,458 2,905 3,695 3,109 4,004 2,934 3,551 Q3 3,091 3,370 2,806 3,424 2,873 3,638 2,805 3,785 3,191 3,832 Q4 2,891 3,260 3,147 3,439 2,940 3,399 2,703 3,390 Full year 12,126 3,260 11,836 3,439 11,635 3,399 11,466 3,390 Orders Received Order Backlog (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Order Backlog by Segment [Hydraulics and Pneumatics] References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved 33 FY2021 FY2022 FY2023 FY2024 FY2025 Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Q1 1,014 1,432 1,082 1,652 1,243 2,239 1,413 2,315 1,468 2,555 Q2 1,287 1,864 1,307 2,207 1,272 2,596 1,390 2,660 1,492 3,124 Q3 1,681 2,488 1,499 2,650 1,288 2,705 1,639 2,907 1,840 3,424 Q4 589 1,153 1,004 1,593 898 1,521 974 1,917 Full year 4,571 1,153 4,892 1,593 4,700 1,521 5,415 1,917 Orders Received Order Backlog (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Order Backlog by Segment [Fluid Measurement Equipment] References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved FY2021 FY2022 FY2023 FY2024 FY2025 Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Q1 1,737 15,182 2,297 16,096 4,449 23,510 5,522 37,096 3,082 43,000 Q2 2,140 13,448 3,260 16,726 7,244 28,598 7,899 40,833 8,059 45,003 Q3 3,563 13,773 4,386 17,497 7,681 32,555 8,702 43,812 7,367 46,070 Q4 7,647 16,775 10,316 22,269 8,192 33,651 11,865 43,246 Full year 15,088 16,775 20,259 22,269 27,566 33,651 33,988 43,246 Orders Received Order Backlog (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Order Backlog by Segment [Defense & Communications Equipment] References: Business Trends 34
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©TOKYO KEIKI INC. All Rights Reserved 35 FY2021 FY2022 FY2023 FY2024 FY2025 Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Orders Received Order Backlog Q1 960 1,421 811 1,820 1,405 2,377 964 2,247 1,879 3,423 Q2 825 1,515 1,139 1,885 860 2,410 774 2,106 974 3,553 Q3 799 1,712 886 2,179 925 2,424 833 2,317 1,514 4,189 Q4 936 1,467 936 1,550 569 1,733 2,095 2,151 Full year 3,520 1,467 3,771 1,550 3,759 1,733 4,666 2,151 Orders Received Order Backlog (Million yen) FY2025FY2022 FY2024FY2023FY2021 Quarterly Changes in Order Backlog by Segment (Others) References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved 36 Million yen FY2021 FY2022 FY2023 FY2024 FY2025 Marine Systems Q1 2,747 3,502 4,246 4,665 5,957 Q2 2,923 3,860 4,050 5,146 6,654 Q3 3,185 3,919 4,190 5,263 6,529 Q4 3,348 4,164 4,416 5,705 Hydraulics and Pneumatics Q1 3,022 3,547 3,713 3,732 3,551 Q2 3,281 3,458 3,695 4,004 3,551 Q3 3,370 3,424 3,638 3,785 3,832 Q4 3,260 3,439 3,399 3,390 Fluid Measurement Equipment Q1 1,432 1,652 2,239 2,315 2,555 Q2 1,864 2,207 2,596 2,660 3,124 Q3 2,488 2,650 2,705 2,907 3,424 Q4 1,153 1,593 1,521 1,917 Defense & Communications Equipment Q1 15,182 16,096 23,510 37,096 43,000 Q2 13,448 16,726 28,598 40,833 45,003 Q3 13,773 17,497 32,555 43,812 46,070 Q4 16,775 22,269 33,651 43,246 Others Q1 1,421 1,820 2,377 2,247 3,423 Q2 1,515 1,885 2,410 2,106 3,553 Q3 1,712 2,179 2,424 2,317 4,189 Q4 1,467 1,550 1,733 2,151 Quarterly Changes in Order Backlog by Segment (Table) References: Business Trends
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©TOKYO KEIKI INC. All Rights Reserved Condensed Balance Sheet 37 References: Business Trends (Million yen) As of March 31, 2025 As of Dec 31, 2025 Change Assets Current assets 56,190 56,822 +632 (Inventories) 23,970 29,302 +5,332 Non-current assets 20,307 24,100 +3,792 (Property, plant and equipment) 9,709 12,153 +2,444 Total assets 76,497 80,921 +4,424 Liabilities Current liabilities 24,060 27,729 +3,669 (Short-term borrowings) 10,417 14,130 +3,713 Non-current liabilities 11,430 10,794 -636 (Long-term borrowings) 9,062 8,392 -670 Total liabilities 35,490 38,523 +3,033 Net assets Shareholders’ equity 36,180 37,356 +1,176 Accumulated other comprehensive income 4,238 4,510 +272 Total net assets 41,007 42,398 +1,392 Total liabilities and net assets 76,497 80,921 +4,424 Equity ratio 52.8% 51.7% -1.1pt
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©TOKYO KEIKI INC. All Rights Reserved Contents 1. Summary of Financial Results for Q3 of FY2025 2. Full-Year Forecast for FY2025 3. Topics References ◼ Business Trends ◼ Our Businesses Reference: Our Businesses 38
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©TOKYO KEIKI INC. All Rights Reserved 39 Net sales ¥57,650 mn Hydraulics and Pneumatics 19.9% Marine Systems 21.7% Fluid Measurement Equipment 8.7% Others 7.4% Defense & Communications Equipment 42.3% Operating profit ¥4,856 mn Hydraulics and Pneumatics 4.0% Marine Systems 31.5% Fluid Measurement Equipment 16.0% Others 15.3% Defense & Communications Equipment 33.2% Principal Businesses of TOKYO KEIKI Group Segment (4+ Others) Business (11) Marine Systems Business ◼ Navigational equipment Hydraulics and Pneumatics Business ◼ Hydraulic and pneumatic equipment Fluid Measurement Equipment Business ◼ Measuring instruments ◼ Fire extinguishing systems Defense & Communications Equipment Business ◼ Defense equipment ◼ Marine traffic equipment ◼ Inertial sensor and applied equipment ◼ High-frequency application equipment (microwave applied equipment) ◼ Communication & control equipment Others ◼ Inspection systems ◼ Railway maintenance FY2024 TOKYO KEIKI Group’s businesses are divided into four segments and others, and there are 11 businesses within these segments. Reference: Our Businesses *Segment ratio of net Sales and operating profit sales are presented on a pre-adjustment basis
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©TOKYO KEIKI INC. All Rights Reserved History of Creation of Core Technologies Microwave technology Gyro technology Hydraulics control technology Ultrasonic technology Inertial sensor application technology *Inertial sensor: Technologies based on gyro sensors and acceleration sensors, and combinations thereof. Hydraulic equipment The business of the TOKYO KEIKI Group goes back to the Meiji Era and the development of nautical instruments. Starting with gyro technology, a number of core technologies have emerged and have developed into current businesses. These core technologies are still a source of innovation by being shared among businesses when producing new products. Aircraft instrument From the achievements of nautical instruments such as compasses Nautical instruments (pressure gauges) Fire detectors and fire extinguishers Domestic production of various ship equipment From the experience in the aircraft equipment field Concluded a sales rights contract after World War II Concluded a manufacturing right agreement with U.S. company Sperry Concluded a sales rights contract with a U.S. company as ship equipment Concluded distribution agreements with an affiliate of Sperry Focused on the hydraulic pumps of Vickers (affiliated with Sperry) that had been incorporated in marine products Current businessCore technologies Air traffic control radar Ultrasonic flaw detector Marine gyrocompasses Marine radar From performance evaluations of marine radars Developed from image processing technology that had been researched for product inspection Navigational equipment Communication & control equipment Communication & control equipment Defense equipment Inertial sensor and applied equipment Defense equipment High-frequency application equipment Marine traffic equipment Measuring instruments Fire extinguishing systems Measuring instruments Railway maintenance Hydraulic and pneumatic equipment Inspection systems Reference: Our Businesses 40
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©TOKYO KEIKI INC. All Rights Reserved Marine Systems Business Navigational equipment Contributing to safe navigation and energy-saving ship steering. Market share Navigational equipment Marine gyrocompasses and autopilots More than 60% of the global commercial vessels market More than 80% of the domestic coastal vessels market. ◼ Offering a complete lineup of essential marine systems for ships and supplying them globally. ◼ Pioneer in marine systems as the first in Japan to manufacture marine radars, gyrocompasses, and autopilots. ◼ As a leader in marine gyrocompasses and autopilots, we have also participated in the fully autonomous ship development project and the next-generation wind-powered vessel project, which contributes to reducing GHG emissions. Marine autopilots for steering systems, such as automatic rudders, etc. Marine gyrocompasses that indicate the direction of a ship’s heading Fiber Optic Gyrocompass (FOG) without moving parts for periodic replacement of the sensor Electronic Chart Display and Information Systems (ECDIS) that display navigational charts in real time "DFFAS Project for Realizing Fully Autonomous Ships" "Wind Challenger Project” Reference: Our Businesses 41
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©TOKYO KEIKI INC. All Rights Reserved Hydraulic and pneumatic Equipment Supporting the manufacturing floor and frontline of infrastructure. Market share For industrial machinery Approx. 40% of the domestic market for plastic injection molding machines ◼ Providing energy-efficient and highly controllable hydraulic and pneumatic equipment for injection molding machines, machine tools, die-casting machines for automobile manufacturing, and other applications. For construction machinery ◼ Providing hydraulic products and electronic equipment that controls the drive primarily for specially-equipped vehicles such as cranes and aerial work platforms. Utilization of hydrogen energy ◼ Providing hydraulic-drive hydrogen compressors for hydrogen filling stations as well as split-module hydrogen compression packages. Solenoid directional valve for various hydraulic equipment Compact power unit widely used as a hydraulic power source for machine tools and general industrial machinery Programmable Logic Controller (PLC) for construction machinery Displays for construction machineryElectric direct control piston pumps for construction machinery Split module hydrogen compression packages Reference: Our Businesses Hydrogen compressors for hydrogen filling stations Direct drive pump control system for flow rate and pressure level control Hydraulics and Pneumatics Business 42
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©TOKYO KEIKI INC. All Rights Reserved Fluid Measurement Equipment Business Measuring instruments Protecting life and human life: Contributing to the safety of life through water resource management and river disaster prevention. Market share Flow monitoring Over 60% of the market for domestic water and sewerage systems and agricultural water. ◼ The first pioneer in the world to commercialize ultrasonic flowmeters. ◼ Our ultrasonic flowmeters are used to monitor flow rates in water and sewerage systems as well as agricultural water pipelines. Land disaster prevention ◼ Systems use microwave level gauges to protect lives from the spate of river and urban flooding. Fire extinguishing systems Protecting against fires: Gas-based fire extinguishing systems are widely used in facilities that are strictly prohibited from getting wet ◼ Miscellaneous gas-based fire extinguishing systems, developed from our (Japan’s first) inert gas fire extinguisher systems, contribute to safe living. Reference: Our Businesses A millimeter-wave radar level gauge featuring a narrow beam for enhanced measurement stability Ultrasonic flowmeters for monitoring water supply, agricultural water, and industrial water Crisis management water gauges that provide early detection of rising river levels Gas-based fire extinguishing systems are widely used in parking garages, museums, art museums, office buildings and factories with printing machinery, etc., where the use of water or foam-based fire extinguishers is not suitable. Flood-control level gauges that indicate the risk of urban flood damage caused by sewage overflowing from manholes 43 Easy-to-install, easy-to-setup Ultrasonic flowmeters
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©TOKYO KEIKI INC. All Rights Reserved Defense & Communications Equipment Business Defense equipment Contributing to national defense: Our strength lies in microwave application technologies and inertial sensor technologies. Market share ◼ Developing, producing, and providing repairs and maintenance for defense avionics equipment and warship navigation systems. Marine traffic equipment Contributing to safe vessel navigation: Providing maritime monitoring systems that can be called a “marine traffic control tower”. Market share 100% share of VTS systems in Vessel Traffic Service Centers nationwide ◼ VTS*1 systems including the maritime surveillance radars and AIS*2 information management equipment, which are required for maritime traffic control operations on congested waterways. ◼ VTS radars to the gulf coasts and rivers in Europe as well. Reference: Our Businesses Radar warning receivers that instantly analyze radio waves around aircraft and warn pilot of threat radar signals Air data computer (ADC) that calculates the altitude and speed of the aircraft. This is mounted on Blue Impulse aircrafts Inertial navigation system using high-precision ring laser gyro, installed on submarines that cannot use any external signals such as GPS for azimuth measurement Photo courtesy of Satoshi Akatsuka, IKAROS PUBLICATIONS, LTD. VTS systems responsible for monitoring operations at Vessel Traffic Service Centers deployed in seven ports across Japan *1 VTS: Vessel Traffic Services *2 AIS: Automatic Identification System (System for exchanging information between vessels, as well as between vessels and navigation aid facilities Maritime surveillance radar installed at the Umihotaru Parking Area in Tokyo Bay 44
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©TOKYO KEIKI INC. All Rights Reserved Inertial sensor and applied equipment Contributing to smart agriculture and disaster prevention systems through combining inertial sensors and control technologies. Market share Our share of accelerometers used in seismometers for the Japan Meteorological Agency is approx. 80%◼ Promoting smart agriculture with straight-line assistance for agricultural vehicles that integrates gyro technology, inertial sensors, and proprietary software technology. ◼ Contributing to national disaster prevention with accelerometers used in seismometers for the Japan Meteorological Agency. High-frequency application equipment Entering into advanced industries through contributing to semiconductor production equipment components and space business, making full use of microwave application technologies. ◼ Solid-state microwave power supplies used in semiconductor production equipment to achieve semiconductor miniaturization. ◼ Providing microwave amplifiers that amplify radar signals emitted from SAR satellites toward the earth’s surface. Communication & control equipment Improving broadcasting quality by utilizing technologies such as gyro sensors, accelerometers, and magnetic azimuth sensors. Antenna directioning systems are mounted on more than 90% of news helicopters owned by domestic TV stations◼ Achieving stable video transmission through attitude control equipment mounted on news helicopters and relay vehicles. ◼ Ensuring reliable transmission of aerial footage with antenna directioning systems mounted on news helicopters of domestic TV stations. Reference: Our Businesses Defense & Communications Equipment Business Straight-line assistance for agricultural vehicles to reduce the burden of working on the farm Solid-state microwave power supply used for next-generation semiconductor production equipment ©️Synspective Inc. Synthetic aperture radar (SAR) satellite with the microwave amplifier onboard Camera stabilizer installed on relay vehicles for marathons and news helicopters used by broadcasting stations Seismic accelerometer essential for measuring seismic magnitude Antenna directioning systems which continuously grasp the position and attitude directions of helicopters, control relay antennas toward receiving stations, and transmit video without interruption 45
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©TOKYO KEIKI INC. All Rights Reserved 46 Others (Inspection/Railroad) Printing inspection equipment Contributing to improving the quality of printing: Detecting printing defects and material surface problems through high-precision image processing technologies. Market share A domestic market leader for gravure printing inspection for flexible plastic materials Flexible plastic materials: packaging materials consisting of thin, flexible materials such as plastic films, paper, and aluminium foil ◼ Achieving high-speed and real-time image processing with in-house developed chips. ◼ Automatically detecting printing errors and foreign matter contamination at high speed to improve work efficiency and eliminate material waste. Railway maintenance Contributing to safe operations of railways: In addition to our core ultrasonic technology, we leverage image processing, gyro technology, and inertial sensor technology for railway maintenance. Market share Ultrasonic rail inspection cars for JR and private domestic railways over 70% ◼ Supporting railway maintenance work with maintenance equipment and maintenance services such as ultrasonic rail flaw detectors and switch profile gauges. Reference: Our Businesses Ultrasonic rail inspection car that performs non-destructive inspections using ultrasonic technology Track diagnosis support system that automatically inspects and determines the condition of multiple types of track materials Print quality inspection device that ensures print quality by detecting print defects Material inspection equipment that detects flaws and foreign matter contaminations in plain materials such as films, nonwoven fabrics, and metal foils Inertial Track Geometry Measurement System that measures rail distortion and other track conditions (Prototype shown in the photo)
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©TOKYO KEIKI INC. All Rights Reserved TOKYO KEIKI INC. Corporate Communications Office TEL: 03-3730-7013 Inquiry form: https://www.tokyokeiki.jp/e/webform_tokyokeiki_e.html Web site : https://www.tokyokeiki.jp/e/ For inquiries regarding this document: Cautionary Note on forward-looking information The data and forecasts disclosed in this document are based on judgments and information available as of the date of publication. They are subject to change due to various factors and do not guarantee future performance or the achievement of the stated goals or forecasts. Additionally, the information contained herein may change in the future without notice. We assume no responsibility for any damages that may arise as a result of using this document. Cautionary Note The analyst report by Shared Research Inc. is available at the following links: Japanese https://sharedresearch.jp/ja/companies/7721 English https://sharedresearch.jp/en/companies/7721 Please note that this report may be removed without prior notice. 47 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.