Interim report
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Consolidated Financial Results for the Nine Months Ended December 31, 2025 [Japanese GAAP] January 30, 20 26 Company name: RYODEN CORPORA TION Stock exchange listing: Tokyo Stock Exchange Code number: 8084 URL: https://www.ryoden.co.jp/ Representative: Katsuyuki Tomizawa, President & CEO Contact: Kouzaburo Okamura, General Manager, General Affairs Department Phone: +81-3-5396-6111 Scheduled date of commencing dividend payments: ― Availability of supplementary briefing material on financial results: Yes Schedule of financial results briefing session: No (Amounts of less than one million yen are rounded down.) 1. Consolidated Financial Results for the Nine Months Ended December 31, 2025 (April 1, 2025 to December 31, 2025) (1) Consolidated Operating Results (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % Nine months ended December 31, 2025 153,844 (3.1) 3,151 (9.7) 3,519 (8.1) 3,409 19.8 Nine months ended December 31, 2024 158,833 (19.3) 3,488 (44.4) 3,831 (39.2) 2,846 (34.1) (Note) Comprehensive income: Nine months ended December 31, 2025: ¥3,273 million [25.3%] Nine months ended December 31, 2024: ¥2,612 million [(56.7)%] Profit per share Diluted profit per share Yen Yen Nine months ended December 31, 2025 158.27 157.83 Nine months ended December 31, 2024 129.92 129.44 (2) Consolidated Financial Position Total assets Net assets Equity ratio Net assets per share Million yen Million yen % Yen As of December 31, 2025 147,996 89,974 60.7 4,168.56 As of March 31, 2025 141,995 89,213 62.7 4,141.24 (Reference) Equity: As of December 31, 2025: ¥89,862 million As of March 31, 2025: ¥89,086 million Note: This document has been translated from a part of 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.
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2. Dividends Annual dividends 1st quarter-end 2nd quarter-end 3rd quarter-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2025 ― 53.00 ― 53.00 106.00 Fiscal year ending March 31, 2026 ― 68.00 ― Fiscal year ending March 31, 2026 (Forecast) 68.00 136.00 (Note) Revision from the most recently announced dividend forecast: No 3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2026 (April 1, 2025 to March 31, 2026) (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Profit per share Million yen % Million yen % Million yen % Million yen % Yen Full year 215,000 (0.4) 5,500 0.3 5,600 (6.8) 5,000 6.4 232.10 (Note) Revision from the most recently announced financial results forecast: No
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* Notes: (1) Significant changes in the scope of consolidation during the period: No (2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes (3) Changes in accounting policies, changes in accounting estimates and retrospective restatement 1) Changes in accounting policies due to the revision of accounting standards: No 2) Changes in accounting policies other than 1) above: Yes 3) Changes in accounting estimates: Yes 4) Retrospective restatement: No *We have changed our depreciation method from the first quarter of the current fiscal year, which falls under the category of “cases where it is difficult to distinguish a change in accounting policy from a change in accounting estimates.” (4) Total number of issued shares (common stock) 1) Total number of issued shares at the end of the period (including treasury stock): December 31, 2025: 21,612,037 shares March 31, 2025: 21,612,037 shares 2) Total number of treasury stock at the end of the period: December 31, 2025: 54,878 shares March 31, 2025: 100,078 shares 3) Average number of shares during the period: Nine months ended December 31, 2025: 21,542,126 shares Nine months ended December 31, 2024: 21,913,487 shares * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: No * Explanation of the proper use of financial results forecast and other notes The statements concerning future performance presented in this document are prepared based on currently available information and certain preconditions which the Company believes to be reasonable at this time. Actual results may be different from any projections presented herein due to various factors. (How to obtain supplementary briefing material on financial results) The supplementary briefing material on financial results will be posted on the Company’s website in mid- February 2026. https://ir.ryoden.co.jp/en
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1 (1) Consolidated Balance Sheets (Million yen) As of March 31, 2025 As of December 31, 2025 Assets Current assets Cash and deposits 33,311 38,178 Notes and accounts receivable - trade, and contract assets 44,840 42,150 Electronically recorded monetary claims - operating 13,806 13,793 Securities ― 131 Merchandise and finished goods 27,296 27,311 Other 6,563 7,826 Allowance for doubtful accounts (16) (15) Total current assets 125,802 129,377 Non-current assets Property, plant and equipment 5,197 5,751 Intangible assets 1,979 4,032 Investments and other assets Other 9,282 9,085 Allowance for doubtful accounts (268) (252) Total investments and other assets 9,013 8,833 Total non-current assets 16,190 18,617 Deferred assets 3 1 Total assets 141,995 147,996
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2 (Million yen) As of March 31, 2025 As of December 31, 2025 Liabilities Current liabilities Notes and accounts payable - trade 25,722 29,157 Electronically recorded obligations - operating 13,911 14,779 Short-term borrowings 1,148 971 Income taxes payable 276 979 Other 8,236 8,702 Total current liabilities 49,296 54,589 Non-current liabilities Long-term borrowings 1,468 1,312 Retirement benefit liability 279 266 Other 1,737 1,853 Total non-current liabilities 3,486 3,432 Total liabilities 52,782 58,022 Net assets Shareholders' equity Share capital 10,334 10,334 Capital surplus 7,355 7,410 Retained earnings 64,160 64,964 Treasury shares (128) (71) Total shareholders' equity 81,721 82,637 Accumulated other comprehensive income Valuation difference on available-for-sale securities 2,282 2,803 Foreign currency translation adjustment 4,253 3,611 Remeasurements of defined benefit plans 828 809 Total accumulated other comprehensive income 7,364 7,224 Share acquisition rights 116 96 Non-controlling interests 10 15 Total net assets 89,213 89,974 Total liabilities and net assets 141,995 147,996
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3 (2) Consolidated Statements of Income and Comprehensive Income Consolidated Statements of Income (Million yen) For the nine months ended December 31, 2024 For the nine months ended December 31, 2025 Net sales 158,833 153,844 Cost of sales 139,171 132,572 Gross profit 19,661 21,272 Selling, general and administrative expenses 16,173 18,120 Operating profit 3,488 3,151 Non-operating income Interest income 165 208 Dividend income 194 163 Share of profit of entities accounted for using equity method 60 50 Compensation income 70 ― Other 128 173 Total non-operating income 620 595 Non-operating expenses Interest expenses 65 52 Foreign exchange losses 180 126 Other 30 48 Total non-operating expenses 276 227 Ordinary profit 3,831 3,519 Extraordinary income Gain on sale of investment securities 393 605 Gain on sale of shares of subsidiaries and associates ― 1,036 Total extraordinary income 393 1,641 Extraordinary losses Loss on retirement of non-current assets 1 ― Loss on subsidy repayment ― 16 Head office relocation expenses ― 48 Total extraordinary losses 1 64 Profit before income taxes 4,223 5,096 Income taxes 1,372 1,682 Profit 2,850 3,413 Profit attributable to non-controlling interests 3 4 Profit attributable to owners of parent 2,846 3,409
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4 Consolidated Statements of Comprehensive Income (Million yen) For the nine months ended December 31, 2024 For the nine months ended December 31, 2025 Profit 2,850 3,413 Other comprehensive income Valuation difference on available-for-sale securities (505) 521 Foreign currency translation adjustment 311 (642) Remeasurements of defined benefit plans, net of tax (44) (19) Total other comprehensive income (238) (140) Comprehensive income 2,612 3,273 Comprehensive income attributable to Comprehensive income attributable to owners of parent 2,608 3,269 Comprehensive income attributable to non-controlling interests 3 4
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5 (3) Consolidated Statements of Cash Flows (Million yen) For the nine months ended December 31, 2024 For the nine months ended December 31, 2025 Cash flows from operating activities Profit before income taxes 4,223 5,096 Depreciation 575 592 Increase (decrease) in allowance for doubtful accounts (22) (1) Interest and dividend income (360) (372) Interest expenses 65 52 Share of loss (profit) of entities accounted for using equity method (60) (50) Loss on retirement of non-current assets 1 ― Loss (gain) on sale of investment securities (393) (605) Loss (gain) on sale of shares of subsidiaries and associates ― (1,036) Loss on subsidy repayment ― 16 Head Office Relocation cost ― 48 Decrease (increase) in trade receivables 22,050 2,791 Decrease (increase) in inventories 5,953 (296) Increase (decrease) in trade payables (13,530) 4,606 Decrease (increase) in accounts receivable - other 85 (1,506) Other, net (1,205) 341 Subtotal 17,383 9,676 Interest and dividends received 391 959 Interest paid (66) (55) Income taxes paid (2,266) (1,072) Net cash provided by (used in) operating activities 15,441 9,508 Cash flows from investing activities Purchase of property, plant and equipment (206) (441) Purchase of intangible assets (578) (2,352) Purchase of investment securities (43) (414) Proceeds from sale of investment securities 504 782 Net decrease (increase) in time deposits 861 ― Proceeds from sale of shares of subsidiaries and associates ― 1,326 Decrease (increase) in short-term loans receivable ― (92) Payments of leasehold and guarantee deposits (482) ― Refund of subsidies ― (16) Other, net (74) (165) Net cash provided by (used in) investing activities (19) (1,372) Cash flows from financing activities Net increase (decrease) in short-term borrowings 76 (146) Repayments of long-term borrowings (217) (155) Purchase of treasury shares (1) (0) Proceeds from disposal of treasury shares 0 0 Dividends paid (2,434) (2,561) Net cash provided by (used in) financing activities (2,577) (2,864) Effect of exchange rate change on cash and cash equivalents 118 (403) Net increase (decrease) in cash and cash equivalents 12,962 4,867 Cash and cash equivalents at beginning of period 18,422 33,305 Cash and cash equivalents at end of period 31,385 38,173