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. February 6, 2026 Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2026 <under Japanese GAAP> Company name: KATITAS Co., Ltd. Listing: Tokyo Stock Exchange Securities code: 8919 URL: https://katitas.co.jp Representative: Katsutoshi Arai, President and CEO Inquiries: Kazuhito Yokota, Director, General Manager of Administration Headquarter TEL: +81-3-5542-3882 (from overseas) Scheduled date to commence dividend payments: – Preparation of supplementary material on financial results: Yes Holding of financial results presentation meeting: Yes (for institutional investors) (Millions of yen with fractional amounts discarded, unless otherwise noted) 1. Consolidated financial results for the first nine months of the fiscal year ending March 31, 2026 (from April 1, 2025 to December 31, 2025) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Nine months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % December 31, 2025 112,414 16.3 14, 248 31.1 13,905 31.0 9,486 31.6 December 31, 2024 96,639 3.2 10, 867 16.1 10,616 16.6 7,209 14.3 Note: Comprehensive income Nine months ended December 31, 2025: ¥9,486 million [31.6%] Nine months ended December 31, 2024: ¥7,209 million [14.3%] Basic earnings per share Diluted earnings per share Nine months ended Yen Yen December 31, 2025 121.29 121.24 December 31, 2024 92.29 92.20 (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % December 31, 2025 90,566 50,073 55.3 March 31, 2025 83,329 45,719 54.9 Reference: Equity As of D ecember 31, 2025: ¥50,073 million As of March 31, 2025: ¥45,719 million
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2. Dividends 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 March 31, 2025 – 28.00 – 28.00 56.00 Fiscal year ending March 31, 2026 – 39.00 – Fiscal year ending March 31, 2026 (Forecast) 39.00 78.00 Note: Revisions to the forecasts of dividends most recently announced: None 3. Consolidated earnings forecasts for th e fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026) (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 Fiscal year ending March 31, 2026 147,500 13.9 17,800 25.2 17,300 24.7 11,900 24.6 152.17 Note: Revisions to the earnings for ecasts most recently announced: None * Notes (1) Significant changes in the scope of consolidation during the period: None (2) Application of special accounting for preparing quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement a. Changes in accounting policies in accordance with changes in accounting standards, etc.: None b. Changes in accounting policies due to other reasons: None c. Changes in accounting estimates: None d. Restatement: None (4) Number of issued shares (common shares) a. Total number of issued shares at the end of the period (including treasury shares) As of December 31, 2025 78,650,640 shares As of March 31, 2025 78,650,640 shares b. Number of treasury shares at the end of the period As of December 31, 2025 415,434 shares As of March 31, 2025 453,724 shares c. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Nine months ended December 31, 2025 78,214,211 shares Nine months ended December 31, 2024 78,125,648 shares * Review of the Japanese-language origin als of the attached quarterly consolidated financial statements by certified public accountants or an audit corporation: None * Proper use of earnings forecasts, and other special matters Caution regarding forward-looking statements and others The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, the statements herein do not constitute assurances regarding the Company’s actual results. Actual financial and othe r results may differ substantially from the statements herein due to various factors. Please refer to “1. Overview of operating results, (3) Explanation regarding consolidated earnings forecasts a nd other forward-looking statements” on page 3 of the attached material s for the suppositions that form the assumptions for the earnings forecasts and cautions regarding the use of the earnings forecasts. Means of access to supplementary material on financial results The Company plans to hold financial results presentation meeting for institutional investors on Friday, February 6, 2026. The supplementary materials used for the quart erly financial results briefing on this da te is to be posted on the Company’s web site promptly after the briefing has concluded.
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1 Attached Materials Index 1. Overview of operating results ................................................................................................................. 2 (1) Overview of operating results in the period ..................................................................................... 2 (2) Overview of financial position in the period .................................................................................... 3 (3) Explanation regarding consolidated earnings forecasts and other forward-looking statements ...... 3 2. Quarterly consolidated financial statements and significant notes thereto ............................................. 4 (1) Quarterly consolidated balance sheet ............................................................................................... 4 (2) Quarterly consolidated statement of income and quarterly consolidated statement of comprehensive income ..................................................................................................................... 5 Quarterly consolidated statement of income .................................................................................... 5 Quarterly consolidated statement of comprehensive income ........................................................... 6 (3) Notes to quarterly consolidated financial statements ....................................................................... 7 Notes to segment information, etc. ............................................................................................ ...... 7 Notes on significant changes in the amount of shareholders’ equity ............................................... 7 Notes on premise of going concern .................................................................................................. 7 Notes on quarterly consolidated statement of cash flows ................................................................ 7 Additional information ..................................................................................................................... 7
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2 1. Overview of operating results (1) Overview of operating results in the period During the first nine months under review, the Japanese economy showed a gradual recovery trend due to improved business performance of companies that passed on higher raw material and import prices to selling prices, along with improvements in income and employment conditions. However, the economic outlook remains uncertain, mainly due to the rising living cost s for consumers as a result of the aforementioned price increases and the impact of fluctuations in the financial capital markets. Under these circumstances, the Group aims to provide a “Fourth Option” as an alternative to newly built, “as- is” pre-owned, and rental houses, mainly targeting the middle- and lower-income market. We deal with older pre-owned single-family detached houses that competitors find challenging to bring to market. We add value by refurbishing properties that are difficult to live in as they are, and sell them to customers. Because the single- family detached houses that the Group handles rely on domestic demand, the effects of economic fluctuation on the Group resulting from U.S. trade policy will be limited. In terms of sales, by providing products that meet the desire to buy inexpensive, high-quality houses against the backdrop of changes in diversifying family compositions, sales have remained strong. Specifically, we have steadily maintained the number of inquiries by providin g housing that meets customer needs through offering more affordable housing to non-family segments and expanding the product lineup for customers considering new homes. In addition, as a structural factor, due to th e increase in costs associated with the aforementioned rise in prices and stronger environmental regulations, th e prices of new homes have surged. As a result of an improvement in the price competitiveness of the used housing conventionally provided by the Group in response to this, the number of homes sold amounted to 6,284, an increase of 13.7% year on year. In terms of purchases, the Company’s policy is to caref ully assess the risks associ ated with used housing and carefully select properties that can be rehabilitated and that will ensure profitability. Under such circumstances, the number of purchases amounted to 7,461, an increase of 17.2% year on year as a result of increasing the level of purchasing activity for the purpose of achieving even greater growth rates as stated in the fourth medium- term management plan that began this fiscal year. In a ddition, as a result of our efforts to commercialize the properties we purchased, real estate for sale and real estate for sale in process increased by 25.5% compared to the end of the previous fiscal year, which ensured that the inventory is sufficient both in quality and quantity for stable growth. In terms of profit, the gross margin increased 0.2 percenta ge points year on year as a result of the continued contribution of measures to improve gross profit, includ ing the aforementioned measures to provide houses in a lower price range. Selling, general and administrative expenses rose 4.1% year on year, as a result of higher personnel expenses due to continued investment in human resources for future stable growth. As a result, in the first nine months under review, the number of properties sold was 6,284, up 13.7% year on year, net sales were ¥112,414 million, up 16.3% year on year, operating profit was ¥14,248 million, up 31.1% year on year, ordinary profit was ¥13,905 million, up 31 .0% year on year and profit attributable to owners of parent was ¥9,486 million, up 31.6% year on year. As disclosed in the “Notice Regarding Decision of N on-Acceptance of Appeal in the Lawsuit for Revocation of Consumption Tax Reassessment Penalty, etc.” dated May 13, 2025, following the date of the decision of non- acceptance, the consumption tax difference recorded as se lling, general, and administrative expenses has been calculated after being deducted from net sales. Although net sales and gross profit have decreased as a result of this change in calculation method, there is no impact on operating profit and subsequent stages of profit. The Group’s sole reportable segment is the “used housing refurbishing and remodeling business.” Other businesses have been omitted due to a lack of materiality.
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3 (2) Overview of financial position in the period (i) Current assets Current assets as of December 31, 2025 amounted to ¥88,308 million, an increase of ¥7,257 million compared to ¥81,050 million at the end of the previous fiscal year. This was mainly due to an increase of ¥15,665 million in real estate for sale and real estate for sale in process, despite a decrease of ¥8,610 million in cash and deposits. (ii) Non-current assets Non-current assets as of December 31, 2025 amounted to ¥2,257 million, a decrease of ¥21 million compared to ¥2,278 million at the end of the previous fiscal year . This was mainly due to decreases of ¥11 million in intangible assets and ¥19 million in investments and other assets, despite an increase of ¥10 million in property, plant and equipment. (iii) Current liabilities Current liabilities as of December 31, 2025 amounted to ¥13,914 million, an increase of ¥2,886 million compared to ¥11,028 million at the end of the previous fiscal year. This was mainly due to decreases of ¥475 million in income taxes payable, ¥81 million in accrued consumption taxes and ¥292 million in provision for bonuses, despite increases of ¥401 million in accounts payable - trade and ¥3,000 million in short-term borrowings. (iv) Non-current liabilities Non-current liabilities as of December 31, 2025 amounted to ¥26,578 million, a decrease of ¥3 million compared to ¥26,581 million at the end of the previous fiscal year. This was mainly due to a decrease of ¥4 million in provision for retirement benefits for directors (and other officers). (v) Net assets Net assets as of December 31, 2025 am ounted to ¥50,073 million, an in crease of ¥4,354 million compared to ¥45,719 million at the end of the previous fiscal year. This was mainly due to the recording of ¥9,486 million in profit attributable to owners of parent while paying out dividends of surplus of ¥5,240 million. As a result, the equity-to-asset ratio was 55.3%. (3) Explanation regarding consolidated earnings forecasts and other forward-looking statements There are no changes to the consolidated earnings forecasts announced in the “Notice Regarding Revision of Earnings Forecasts, Dividends of Su rplus (Interim Dividend), and Yea r-End Dividend Forecast (Increase in Dividends) for the Fiscal Year Ending March 31, 2026” dated November 7, 2025.
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4 2. Quarterly consolidated financial stat ements and significant notes thereto (1) Quarterly consolidated balance sheet (Millions of yen) As of March 31, 2025 As of December 31, 2025 Assets Current assets Cash and deposits 18,766 10,156 Real estate for sale 39,141 46,915 Real estate for sale in process 22,394 30,285 Income taxes refund receivable 5 3 Other 745 949 Allowance for doubtful accounts (3) (2) Total current assets 81,050 88,308 Non-current assets Property, plant and equipment 800 810 Intangible assets 155 144 Investments and other assets Other 1,324 1,304 Allowance for doubtful accounts (1) (1) Total investments and other assets 1,322 1,302 Total non-current assets 2,278 2,257 Total assets 83,329 90,566 Liabilities Current liabilities Accounts payable - trade 4,534 4,936 Short-term borrowings – 3,000 Income taxes payable 2,667 2,191 Accrued consumption taxes 81 – Provision for bonuses 557 264 Construction warranty reserve 378 504 Provision for loss on litigation 2 8 Provision for loss on disaster 54 55 Other 2,751 2,955 Total current liabilities 11,028 13,914 Non-current liabilities Long-term borrowings 26,500 26,500 Provision for retirement benefits for directors (and other officers) 71 66 Other 9 11 Total non-current liabilities 26,581 26,578 Total liabilities 37,610 40,492 Net assets Shareholders’ equity Share capital 3,778 3,778 Capital surplus 3,763 3,851 Retained earnings 38,395 42,641 Treasury shares (219) (198) Total shareholders’ equity 45,719 50,073 Total net assets 45,719 50,073 Total liabilities and net assets 83,329 90,566
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5 (2) Quarterly consolidated statement of income and quar terly consolidated statement of comprehensive income Quarterly consolidated statement of income (Millions of yen) Nine months ended December 31, 2024 Nine months ended December 31, 2025 Net sales 96,639 112,414 Cost of sales 74,062 85,974 Gross profit 22,577 26,439 Selling, general and administrative expenses 11,710 12,191 Operating profit 10,867 14,248 Non-operating income Commission income 3 21 Insurance claim income 0 7 Discount revenue 3 3 Income of compensation 6 2 Other 11 12 Total non-operating income 25 48 Non-operating expenses Interest expenses 221 331 Commission for syndicated loans 21 20 Other 33 38 Total non-operating expenses 276 390 Ordinary profit 10,616 13,905 Extraordinary income Gain on sale of non-current assets 0 0 Total extraordinary income 0 0 Extraordinary losses Loss on sale of non-current assets 6 – Loss on retirement of non-current assets 0 – Total extraordinary losses 6 – Profit before income taxes 10,610 13,905 Income taxes - current 3,228 4,346 Income taxes - deferred 172 73 Total income taxes 3,400 4,419 Profit 7,209 9,486 Profit attributable to owners of parent 7,209 9,486
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6 Quarterly consolidated statement of comprehensive income (Millions of yen) Nine months ended December 31, 2024 Nine months ended December 31, 2025 Profit 7,209 9,486 Comprehensive income 7,209 9,486 Comprehensive income attributable to Comprehensive income attributable to owners of parent 7,209 9,486
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7 (3) Notes to quarterly consolidated financial statements Notes to segment information, etc. Segment information I. Nine months ended December 31, 2024 The Group’s sole reportable segment is the “used housing refurbishing and remodeling business.” Other businesses have been omitted due to a lack of materiality. II. Nine months ended December 31, 2025 The Group’s sole reportable segment is the “used housing refurbishing and remodeling business.” Other businesses have been omitted due to a lack of materiality. Notes on significant changes in the amount of shareholders’ equity No items to report. Notes on premise of going concern No items to report. Notes on quarterly consolidated statement of cash flows Quarterly consolidated statement of cash flows has not been prepared for the first nine months under review. Depreciation for the first nine months ended December 31, 2024 and December 31, 2025 are as follows. Nine months ended December 31, 2024 Nine months ended December 31, 2025 Depreciation ¥49 million ¥81 million Additional information Regarding progress of the ruling on the lawsuit seeking the revocation of the reassessment penalty, etc. received from the Regional Taxation Bureau The Company filed a lawsuit (hereinafter, the “Lawsuit”) against the Kanto-Shinetsu Regional Taxation Bureau (hereinafter, the “Regional Taxation Bureau”), seeking the revocation of a Written Notice of Reassessment of Consumption Tax and Local Consumption Tax and a Written Notice of Assessment and Determination Regarding Additional Tax (hereinafter, the “Reassessm ent Penalty, etc.”) the Company received from the Regional Taxation Bureau on April 28, 2020. However, on May 9, 2025, the Supreme Court decided not to accept the appeal and we received the decision document on May 12, 2025. As a result, the judgment of the Tokyo High Court dated May 30, 2024, which upheld the dismissal of our claim by the Tokyo District Court, has been finalized. Based on this decision, the calculation method claimed by the Regional Taxation Bureau will be implemented from the calculation of the sales price for purchase and sale agreements and will be reflected in the tax-exclusive sales price. Therefore, the amount equivalent to the consumption tax difference following the date of this decision was not processed by recording it in selling, general and administrative expenses as was done until the fiscal year ended March 31, 2025, but has been deducted from net sales. As a result, there will be no impact on the operating profit and subsequent stages of profit. The Company subsidiary, REPRICE Co ., Ltd. (hereinafter, “REPRICE”) also received a correction notice separately from the Company, and filed a lawsuit seeking the revocation of this correction with the Nagoya District Court on March 26, 2025 (hereinafter, “Reprice lawsuit”). REPRICE has already adopted the same accounting treatment as the Company, and from the date of this decision, the amount equivalent to the consumption tax difference has been deducted from sales. Since the Reprice lawsuit has some different points from the Company’s Lawsuit, we believe there is significance in continuing the lawsuit, and are continuing the Reprice lawsuit.