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― Supplementary Materials of Consolidated Financial Results ― The Third Quarter of the Fiscal Year Ending March 2025 ＊This report contains forecasts and plan numbers which are based on information currently available to the company on the day this report was created and actual results may differ. ＊The fluctuation rates (%) in this material are calculated using the unit of Yen, to the extent possible, so they may differ from values calculated using the unit of Mil lions of yen. January 29, 2025
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Consolidated Results (YoY) 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Net Sales 45,661 46,243 44,994 (-2.7%) Gross Profit 18,961 18,821 17,955 (-4.6%) Operating Profit 6,526 5,447 4,222 (-22.5%) Profit Attributable to Owners of Parent 5,446 3,987 2,804 (-29.7%) Gross Profit Margin 41.5% 40.7% 39.9% Operating Profit Margin 14.3% 11.8% 9.4% Earnings per Share 307.65 Yen 227.01 Yen 159.42 Yen Consolidated Results (Quarterly) 3Q FY3/2024 4Q FY3/2024 1Q FY3/2025 2Q FY3/2025 3Q FY3/2025 15,060 15,501 15,230 14,866 14,897 6,177 6,484 6,057 6,003 5,894 1,573 1,654 1,446 1,478 1,297 1,288 921 1,298 700 806 41.0% 41.8% 39.8% 40.4% 39.6% 10.4% 10.7% 9.5% 9.9% 8.7% Business Results 2 3Q FY3/2025 Consolidated Financial Results (Unit : Millions of yen)
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Sales by Industrial Market (Billions of yen) 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Tech Market 21.2 19.2 19.7 (+2.6%) Machinery Market 12.5 14.2 13.5 (-4.9%) Plant Market 11.6 12.5 11.4 (-8.8%) Sales by Region Japan 29,339 32,338 30,883 (-4.5%) Overseas 16,322 13,904 14,110 (+1.5%) Sales Ratio 35.7% 30.1% 31.4% Results by Segment 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Seal Products Business Net Sales 30,310 28,018 30,197 (+7.8%) Segment Profit 5,274 2,382 3,931 (+65.0%) Profit Margin 17.4% 8.5% 13.0% High Performance Plastics Products Business Net Sales 13,005 15,944 12,433 (-22.0%) Segment Profit 1,298 3,095 449 (-85.5%) Profit Margin 10.0% 19.4% 3.6% SWR & Other Businesses Net Sales 2,345 2,280 2,363 (+3.7%) Segment Profit -46 -29 -158 (-→-) Profit Margin -2.0% -1.3% -6.7% 3 Business Results --- Details Tech Market : Semiconductor Processing Equipment, Semiconductor Device Maker/Foundries Machinery Market : Auto, Mother Machine, Factory Machine, Construction Machine Plant Market : Petroleum Refining & Chemical, Steel, Plant Construction (Unit : Millions of yen) 3Q FY3/2025 Consolidated Financial Results
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4 (Unit : Millions of yen) Total Amount of Change of Gross Profit Operating Profit Of 1-3Q, FY3/2024 -866 -1,225 5,447 Decreased sales mainly due to short- term demand trends for Special Fluorocarbon Plastic Tank products Note: “-” of SGA expenses is increase and “+” is decrease. -63 -232 -64 -359 General Expenses Personnel Expenses Total Amount of Change of SGA expenses Depreciation in SGA expenses Operating Profit Of 1-3Q, FY3/2025 4,222 Tech +0.5 billion yen, Machinery -0.7 BY, Plant -1.1 BY Japan -1.4 billion yen, Overseas +0.2 BYBy Region By Market Change in Net sales -1,249 Analysis of Change Factor of Operating Profit 3Q FY3/2025 Consolidated Financial Results Including an inventory revaluation loss of approximately -0.2 billion yen for raw materials
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Balance Sheet (Summary) Assets Liabilities and Net assets End of FY3/2023 End of FY3/2024 End of 3Q FY3/2025 End of FY3/2023 End of FY3/2024 End of 3Q FY3/2025 Current Assets 41,230 43,801 45,659 Current liabilities 16,591 16,560 20,108 Non-current liabilities 6,238 9,195 9,526 Non-current Assets 27,276 30,686 32,598 Total liabilities 22,830 25,755 29,634 Total net assets 45,677 48,731 48,622 Total assets 68,507 74,487 78,257 Total liabilities and net assets 68,507 74,487 78,257 Equity 45,194 48,216 48,082 Equity Ratio 66.0% 64.7% 61.4% Interest- Bearing Debt 5,827 10,092 13,679 Net Interest- Bearing Debt -2,364 3,706 7,594 DER 0.13 0.21 0.28 5 Cash Flows (Summary) 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 Operating CF 2,797 959 2,475 Investment CF -432 -3,208 -3,608 Free CF 2,364 -2,249 -1,132 Balance Sheet / Cash Flows (Unit : Millions of yen) 3Q FY3/2025 Consolidated Financial Results
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1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Sales by Industrial Market (Billions of yen) Tech Market 12.75 8.80 11.40 (+29.5%) Machinery Market 10.05 11.50 10.60 (-7.8%) Plant Market 7.45 7.65 8.15 (+6.5%) Sales by Region Japan 20,808 20,561 21,190 (+3.1%) Overseas 9,502 7,457 9,006 (+20.8%) Overseas Sales Ratio 31.3% 26.6% 29.8% Result by Segment 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Net Sales 30,310 28,018 30,197 (+7.8%) Segment Profit 5,274 2,382 3,931 (+65.0%) Profit Margin 17.4% 8.5% 13.0% Quarterly 3Q FY3/2024 4Q FY3/2024 1Q FY3/2025 2Q FY3/2025 3Q FY3/2025 Net Sales 9,267 9,142 9,893 9,982 10,321 Segment Profit 631 757 1,190 1,407 1,333 Orders Received 8,782 9,551 10,208 9,830 10,792 Term-end Order Backlog 5,332 5,741 6,056 5,904 6,376 6 Results by Segment Seal Products Business (Unit : Millions of yen) 3Q FY3/2025 Consolidated Financial Results
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1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Sales by Industrial Market (Billions of yen) Tech Market 6.40 8.35 6.25 (-25.1%) Machinery Market 2.40 2.65 2.85 (+7.5%) Plant Market 4.15 4.85 3.25 (-33.0%) Sales by Region Japan 7,333 10,644 8,621 (-19.0%) Overseas 5,671 5,300 3,811 (-28.1%) Overseas Sales Ratio 43.6% 33.2% 30.7% Result by Segment 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Net Sales 13,005 15,944 12,433 (-22.0%) Segment Profit 1,298 3,095 449 (-85.5%) Profit Margin 10.0% 19.4% 3.6% Quarterly 3Q FY3/2024 4Q FY3/2024 1Q FY3/2025 2Q FY3/2025 3Q FY3/2025 Net Sales 5,086 5,636 4,568 4,111 3,752 Segment Profit 982 901 289 123 36 Orders Received 4,199 3,953 4,061 3,609 4,371 Term-end Order Backlog 6,312 4,630 4,122 3,620 4,238 7 (Unit : Millions of yen) Results by Segment High Performance Plastics Products Business 3Q FY3/2025 Consolidated Financial Results
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Result by Segment 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Net Sales 2,345 2,280 2,363 (+3.7%) Segment Profit -46 -29 -158 (-→-) Profit Margin -2.0% -1.3% -6.7% Quarterly 3Q FY3/2024 4Q FY3/2024 1Q FY3/2025 2Q FY3/2025 3Q FY3/2025 Net Sales 706 722 768 772 822 Segment Profit -40 -4 -33 -51 -72 Orders Received 710 824 748 692 712 Term-end Order Backlog 316 418 399 319 209 8 (Unit : Millions of yen) Results by Segment Silicon Wafer Reclaim and Other Businesses 1-3Q FY3/2023 1-3Q FY3/2024 1-3Q FY3/2025 (YoY) Sales by Industrial Market (Billions of yen) Tech Market 2.00 2.05 2.05 (-) Other Market 0.3 0.2 0.3 (+50.0%) Sales by Region Japan 1,197 1,132 1,071 (-5.4%) Overseas 1,148 1,147 1,292 (+12.6%) Overseas Sales Ratio 49.0% 50.3% 54.7% 3Q FY3/2025 Consolidated Financial Results
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3Q FY3/2023 4Q FY3/2023 1Q FY3/2024 2Q FY3/2024 3Q FY3/2024 4Q FY3/2024 1Q FY3/2025 2Q FY3/2025 3Q FY3/2025 Orders Received Consolidated 14,500 15,501 16,145 14,437 13,692 14,329 15,019 14,132 15,876 Seal 10,098 10,286 8,823 8,959 8,782 9,551 10,208 9,830 10,792 HPP 3,687 4,489 6,413 4,673 4,199 3,953 4,061 3,609 4,371 SWR & Other 714 726 908 804 710 824 748 692 712 Net Sales Consolidated 16,084 16,516 15,489 15,692 15,060 15,501 15,230 14,866 14,897 Seal 10,325 9,820 9,814 8,936 9,267 9,142 9,893 9,982 10,321 HPP 5,000 5,926 4,895 5,962 5,086 5,636 4,568 4,111 3,752 SWR & Other 758 770 778 794 706 722 768 772 822 Order BacklogConsolidated 14,945 13,930 14,586 13,330 11,962 10,790 10,578 9,844 10,824 Seal 6,319 6,785 5,794 5,817 5,332 5,741 6,056 5,904 6,376 HPP 8,408 6,970 8,488 7,200 6,312 4,630 4,122 3,620 4,238 SWR & Other 217 173 302 312 316 418 399 319 209 9 Orders Received and Order Backlog --- Quarterly Transition 3Q FY3/2025 Consolidated Financial Results ＊HPP=High Performance Plastics Business ＊SWR & Other=Silicon Wafer Reclaim and Other Businesses (Unit : Millions of yen)
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End of 2Q (Interim) Dividend Year-end Dividend Annual Dividend Treasury Stock Acquisitions Total Return Ratio FY3/2023 60.0 yen 90.0 yen 150.0 yen 499.9 million yen 46.6% FY3/2024 75.0 yen 75.0 yen 150.0 yen 53.7％ FY3/2025 (Forecasts) 75.0 yen 75.0 yen 150.0 yen 52.8％ (Only Dividend Forecast) 10 Valqua aims to return profits to shareholders with a target “Consolidated stockholder return ratio” of 50%, while considering the need for funds to advance business strategies and strengthen the foundation. Our Group adopts the following standard for consolidated stockholders total return ratio Consolidated Stockholders Total Return Ratio= (Total Dividend of Current FY+Treasury Stock Acquisitions Based on Current FYʼs Results) ÷Current FYʼs Earnings Stockholders Return 3Q FY3/2025 Consolidated Financial Results