Interim report
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DISCLAIMER : 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 . Consolidated Financial Results for the Fiscal Year Ended June 30 , 2026 August 7 , 2026 Tokyo Stock Exchange ( Under Japanese GAAP ) Company name : Listing : KOA SHOJI HOLDINGS CO . , LTD . Securities code : 9273 URL : Representative : Inquiries : Telephone : https://www.koashoji-hd.com/ Toshiyuki SHUTO , President and Representative Director Miyoko KOMATSU , Managing Director in charge of Finance & Accounting + 81-45-560-6607 Scheduled date of annual general meeting of shareholders : Scheduled date to commence dividend payments : Scheduled date to file annual securities report : Preparation of supplementary material on financial results : Holding of financial results briefing : September 25 , 2026 September 28 , 2026 September 18 , 2026 Yes Yes ( for analysts and institutional investors ) ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated financial results for the fiscal year ended June 30 , 2026 ( from July 1 , 2025 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( Percentages indicate year - on - year changes . ) Profit attributable to owners of Net sales Operating profit Ordinary profit parent Fiscal year ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % June 30 , 2026 24,678 6.1 5,476 2.3 5,521 2.7 3,748 3.0 June 30 , 2025 23,269 5.1 5,355 22.2 5,375 23.1 3,637 23.5 Note : Comprehensive income For the fiscal year ended June 30 , 2026 : For the fiscal year ended June 30 , 2025 : ¥ 3,733 million [ 3.2 % ] ¥ 3,616 million [ 21.7 % ] Diluted earnings per share Return on equity Ratio of ordinary profit to total assets Ratio of operating profit to net sales Basic earnings per share Fiscal year ended June 30 , 2026 June 30 , 2025 Yen 89.00 86.38 Yen Note : " Net income per share adjusted for potential shares " is not included because there are no potential shares . ( 2 ) Consolidated financial position As of June 30 , 2026 June 30 , 2025 Reference : Equity As of June 30 , 2026 : As of June 30 , 2025 : ( 3 ) Consolidated cash flows % % % 12.6 14.6 22.2 13.7 15.8 23.0 Total assets Net assets Equity - to - asset ratio Net assets per share Millions of yen Millions of yen % Yen 39,532 31,180 78.9 740.30 36,114 28,120 77.9 667.66 Cash flows from operating ¥ 31,180 million ¥ 28,120 million Fiscal year ended June 30 , 2026 June 30 , 2025 activities Millions of yen 7,592 3,777 2 . Cash dividends First quarter- Second quarter- end end Yen Yen 0.00 Fiscal year ended June 30 , 2025 Fiscal year ended June 30 , 2026 Fiscal year ending June 30 , 2027 ( Forecast ) Cash flows from investing activities Millions of yen ( 8,154 ) ( 1,282 ) Cash flows from financing activities Cash and cash equivalents at end of period Millions of yen Millions of yen 189 14,388 ( 938 ) 14,739 Annual dividends per share Third quarter- end Fiscal year - end Total Total cash dividends ( Total ) Payout ratio ( Consolidated ) Ratio of dividends to net assets ( Consolidated ) Yen Yen Yen Millions of yen % 16.00 16.00 673 18.5 % 2.5 0.00 18.00 18.00 758 20.2 2.6 0.00 19.00 19.00 22.3
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3. Forecast of consolidated financial results for the fiscal year ending June 30, 2027 (from July 1, 2026 to June 30, 2027) (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 June 30, 2027 26,700 8.2 5,270 (3.8) 5,260 (4.7) 3,590 (4.2) 85.24
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*Notes (1)Significant changes in the scope of consolidation during the period: None (2) 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 (3)Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 42,119,980 shares As of June 30, 2025 42,119,980 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 1,476 shares As of June 30, 2025 1,476 shares (iii) Average number of shares outstanding during the period Fiscal year ended June 30, 2026 42,118,504 shares Fiscal year ended June 30, 2025 42,118,596 shares * Financial results reports are exempt from audit conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters (Cautions on forward-looking statements, etc.) The forward-looking statements, including forecasts of financial results, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. However, the Company makes no guarantee that these forecasts will be achieved. Actual financial results, etc. may differ substantially due to various factors. For the conditions on which earnings forecasts are predicated and precautions for the use of earnings forecasts, please refer to Appendix P2 "1. Summary of Business Results, etc." (Method of accessing supplementary material on financial results and contents of the financial results briefing) The Company plans to hold financial results briefing for analysts and institutional investors on Friday, August 7, 2026. Supplementary financial results materials will be disclosed on TDnet on the same day and will be posted on the Company's website.
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Consolidated balance sheet (Thousands of yen) As of June 30, 2025 As of June 30, 2026 Assets Current assets Cash and deposits 14,919,028 17,210,460 Notes receivable - trade 19,174 3,322 Accounts receivable - trade 3,555,953 3,402,023 Electronically recorded monetary claims - operating 4,546,823 1,261,314 Securities - 369,619 Merchandise and finished goods 2,124,094 1,774,863 Work in process 540,924 471,102 Raw materials and supplies 599,763 595,009 Other 221,905 242,151 Total current assets 26,527,666 25,329,867 Non-current assets Property, plant and equipment Buildings and structures 5,654,060 5,792,615 Accumulated depreciation (2,748,896) (2,965,290) Buildings and structures, net 2,905,164 2,827,324 Machinery, equipment and vehicles 3,870,459 4,053,696 Accumulated depreciation (2,958,177) (3,228,356) Machinery, equipment and vehicles, net 912,281 825,339 Tools, furniture and fixtures 1,530,744 1,605,783 Accumulated depreciation (1,200,143) (1,288,177) Tools, furniture and fixtures, net 330,600 317,605 Land 1,807,189 1,806,426 Construction in progress 3,240,308 6,588,576 Total property, plant and equipment 9,195,544 12,365,272 Intangible assets Other 8,661 7,622 Total intangible assets 8,661 7,622 Investments and other assets Investment securities 89,928 1,570,913 Deferred tax assets 263,690 235,345 Retirement benefit asset 17,490 9,743 Other 11,776 13,946 Total investments and other assets 382,886 1,829,947 Total non-current assets 9,587,091 14,202,842 Total assets 36,114,758 39,532,710
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(Thousands of yen) As of June 30, 2025 As of June 30, 2026 Liabilities Current liabilities Notes and accounts payable - trade 1,567,463 1,291,884 Electronically recorded obligations - operating 448,935 171,910 Accounts payable - other 361,305 299,126 Accounts payable - facilities 1,277,390 1,374,159 Short-term borrowings 860,000 2,080,280 Current portion of long-term borrowings 349,904 269,504 Income taxes payable 1,039,296 896,967 Provision for bonuses 47,964 59,129 Other 411,420 508,528 Total current liabilities 6,363,679 6,951,491 Non-current liabilities Long-term borrowings 1,241,480 971,976 Deferred tax liabilities 7,192 6,230 Provision for retirement benefits for directors (and other officers) 162,767 170,750 Retirement benefit liability 146,049 170,160 Other 72,925 81,732 Total non-current liabilities 1,630,414 1,400,849 Total liabilities 7,994,094 8,352,340 Net assets Shareholders' equity Share capital 1,338,752 1,338,752 Capital surplus 1,022,303 1,022,303 Retained earnings 25,733,458 28,808,307 Treasury shares (484) (484) Total shareholders' equity 28,094,029 31,168,878 Accumulated other comprehensive income Valuation difference on available-for-sale securities 30,798 8,916 Deferred gains or losses on hedges (4,163) 2,574 Total accumulated other comprehensive income 26,634 11,491 Total net assets 28,120,664 31,180,369 Total liabilities and net assets 36,114,758 39,532,710
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Consolidated statement of income (Thousands of yen) Fiscal year ended June 30, 2025 Fiscal year ended June 30, 2026 Net sales 23,269,231 24,678,859 Cost of sales 15,571,839 16,674,695 Gross profit 7,697,392 8,004,163 Selling, general and administrative expenses 2,342,210 2,527,991 Operating profit 5,355,182 5,476,171 Non-operating income Interest and dividend income 6,249 12,330 Interest on securities - 26,203 Foreign exchange gains 16,138 - Commission income 10,272 10,769 Compensation income 35,968 1,181 Subsidy income - 31,325 Other 8,247 18,726 Total non-operating income 76,875 100,536 Non-operating expenses Interest expenses 15,133 22,960 Foreign exchange losses - 22,379 Loss on cancellation of leases 5,777 - Loss on retirement of non-current assets 7,117 131 Compensation expenses 26,235 - Other 2,045 9,457 Total non-operating expenses 56,310 54,927 Ordinary profit 5,375,748 5,521,781 Extraordinary income Gain on sale of non-current assets - 3,552 Total extraordinary income - 3,552 Extraordinary losses Loss on sale of non-current assets 4,506 - Total extraordinary losses 4,506 - Profit before income taxes 5,371,241 5,525,333 Income taxes - current 1,737,152 1,742,704 Income taxes - deferred (3,907) 33,884 Total income taxes 1,733,244 1,776,588 Profit 3,637,996 3,748,744 Profit attributable to owners of parent 3,637,996 3,748,744
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Consolidated statement of comprehensive income (Thousands of yen) Fiscal year ended June 30, 2025 Fiscal year ended June 30, 2026 Profit 3,637,996 3,748,744 Other comprehensive income Valuation difference on available-for-sale securities (10,671) (21,882) Deferred gains or losses on hedges (10,716) 6,738 Total other comprehensive income (21,387) (15,143) Comprehensive income 3,616,609 3,733,601 Comprehensive income attributable to Comprehensive income attributable to owners of parent 3,616,609 3,733,601
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Consolidated statement of changes in equity Fiscal year ended June 30, 2025 Shareholders' equity Accumulated other comprehensive income Total net assets Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity V aluation difference on available-for-sale securities Deferred gains or losses on hedges Total accumulated other comprehensive income Balance at beginning of period 1,338,752 1,022,303 22,643,004 (407) 25,003,652 41,470 6,552 48,022 25,051,674 Changes during period Issuance of new shares - - - - - - - - - Dividends of surplus - - (547,542) - (547,542) - - - (547,542) Profit attributable to owners of parent - - 3,637,996 - 3,637,996 - - - 3,637,996 Purchase of treasury shares - - - (77) (77) - - - (77) Net changes in items other than shareholders' equity - - - - - (10,671) (10,716) (21,387) (21,387) Total changes during period - - 3,090,454 (77) 3,090,377 (10,671) (10,716) (21,387) 3,068,989 Balance at end of period 1,338,752 1,022,303 25,733,458 (484) 28,094,029 30,798 (4,163) 26,634 28,120,664 Consolidated statement of changes in equity Fiscal year ended June 30, 2026 Shareholders' equity Accumulated other comprehensive income Total net assets Share capital Capital surplus Retained earnings Treasury shares Total shareholders' equity V aluation difference on available-for-sale securities Deferred gains or losses on hedges Total accumulated other comprehensive income Balance at beginning of period 1,338,752 1,022,303 25,733,458 (484) 28,094,029 30,798 (4,163) 26,634 28,120,664 Changes during period Issuance of new shares - - - - - - - - - Dividends of surplus - - (673,896) - (673,896) - - - (673,896) Profit attributable to owners of parent - - 3,748,744 - 3,748,744 - - - 3,748,744 Purchase of treasury shares - - - - - - - - - Net changes in items other than shareholders' equity - - - - - (21,882) 6,738 (15,143) (15,143) Total changes during period - - 3,074,848 - 3,074,848 (21,882) 6,738 (15,143) 3,059,705 Balance at end of period 1,338,752 1,022,303 28,808,307 (484) 31,168,878 8,916 2,574 11,491 31,180,369
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Consolidated statement of cash flows (Thousands of yen) Fiscal year ended June 30, 2025 Fiscal year ended June 30, 2026 Cash flows from operating activities Profit before income taxes 5,371,241 5,525,333 Depreciation 691,734 614,509 Increase (decrease) in provision for bonuses 1,287 11,164 Increase (decrease) in provision for retirement benefits for directors (and other officers) 11,629 7,983 Decrease (increase) in retirement benefit asset 5,678 7,747 Increase (decrease) in retirement benefit liability (6,508) 24,110 Interest and dividend income (6,249) (12,330) Interest expenses 15,133 22,960 Interest income on securities - (26,203) Compensation income (35,968) (1,181) Subsidy income (1,057) (5,000) Subsidy income - (31,325) Foreign exchange losses (gains) 11,687 (22,379) Loss (gain) on sale and retirement of non-current assets 11,374 (4,563) Decrease (increase) in trade receivables 282,594 3,455,290 Decrease (increase) in inventories (998,468) 429,890 Increase (decrease) in trade payables (189,013) (552,603) Decrease (increase) in accounts receivable - other (31,704) (65,958) Other, net 56,142 84,240 Subtotal 5,189,533 9,461,683 Interest and dividends received 8,490 14,337 Interest paid (15,824) (19,861) Income taxes paid (1,441,928) (1,880,414) Income taxes refund 3 5,235 Proceeds from compensation 35,968 979 Subsidies received - 31,325 Subsidies received 1,057 5,000 Payments for compensation - (26,235) Net cash provided by (used in) operating activities 3,777,301 7,592,049
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(Thousands of yen) Fiscal year ended June 30, 2025 Fiscal year ended June 30, 2026 Cash flows from investing activities Purchase of investment securities (3,533) (1,856,081) Purchase of non-current assets (1,888,472) (3,676,929) Proceeds from sale of non-current assets 34,064 20,982 Payments into time deposits (2,816,026) (5,655,967) Proceeds from withdrawal of time deposits 3,396,026 3,013,980 Other, net (4,863) (50) Net cash provided by (used in) investing activities (1,282,805) (8,154,067) Cash flows from financing activities Repayments of long-term borrowings (373,904) (349,904) Net increase (decrease) in short-term borrowings - 1,220,280 Dividends paid (547,361) (673,211) Purchase of treasury shares (77) - Other, net (17,324) (8,082) Net cash provided by (used in) financing activities (938,666) 189,082 Effect of exchange rate change on cash and cash equivalents (11,687) 22,379 Net increase (decrease) in cash and cash equivalents 1,544,141 (350,555) Cash and cash equivalents at beginning of period 13,195,373 14,739,515 Cash and cash equivalents at end of period 14,739,515 14,388,960
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(Notes on segment information, etc.) Segment Information 1. Overview of Reporting Segments The Group's reporting segments are those of the Company's constituent units for which segregated financial information is ava ilable and are subject to periodic review by the Board of Directors in order to determine the allocation of management resources an d evaluate business performance. The Group, centered on the Company, which is a pure holding company, has two reporting segments: "API Sales Business" and "Ph armaceutical Manufacturing and Sales Business." 2. Method of calculating the amount of sales, profits or losses, assets and other items for each reporting segment The method of accounting for the reported business segments is generally the same as described in the "Fundamental Important Matters for the Preparation of Consolidated Financial Statements". Profit in the reporting segment is a figure based on operating income. Internal revenues and transfers between reported segments are based on prevailing market prices. 3. Information on the amount of sales, profits or losses, assets and other items for each reported segment, and information on the breakdown of earnings The previous fiscal year (July 1, 2024 to June 30, 2025) (Thousands of yen) Reportable segments Adjustment amount (Note 1) Amount recorded in consolidated financial statements (Note 2) API Sales Business Manufacture and Sales of Pharmaceuticals Business Total Sales Revenue generated from customer contracts 14,600,557 8,668,673 23,269,231 - 23,269,231 Other Earnings - - - - - Revenues from external customers 14,600,557 8,668,673 23,269,231 - 23,269,231 Transactions with other segments 1,330,191 - 1,330,191 (1,330,191) - Total 15,930,748 8,668,673 24,599,422 (1,330,191) 23,269,231 Segment Profit 3,215,004 2,136,914 5,351,919 3,263 5,355,182 Segment Assets 19,509,945 15,374,075 34,884,021 1,230,737 36,114,758 Other items Depreciation 112,874 576,313 689,187 2,547 691,734 Increase in property, plant and equipment and intangible assets 70,733 3,004,601 3,075,335 1,668 3,077,004 Note: 1. The amount of adjustment is as follows. (1) The adjustment amount of 3,263 thousand yen in segment profit is the elimination of inter -segment transactions and company-wide expenses. (2) The adjusted amount of 1,230,737 thousand yen for segment assets is the elimination of inter -segment transactions and company-wide assets. (3) The adjustment for depreciation and amortization of 2,547 thousand yen is the depreciation of assets related to the Compa ny's administrative divisions that are not attributable to the reporting segment. (4) The adjustment amount of 1,668 thousand yen for the increase in property, plant and equipment and intangible assets is th e amount of capital expenditure in the Company's administrative division, which is not attributable to the reporting segment. 2. The total amount of segment profit is in line with the operating profit in the consolidated financial statements. The current fiscal year (July 1, 2025 to June 30, 2026) (Thousands of yen) Reportable segments Adjustment amount (Note 1) Amount recorded in consolidated financial statements (Note 2) API Sales Business Manufacture and Sales of Pharmaceuticals Business Total Sales Revenue generated from customer contracts 15,717,087 8,961,772 24,678,859 - 24,678,859 Other Earnings - - - - - Revenues from external customers 15,717,087 8,961,772 24,678,859 - 24,678,859 Transactions with other segments 1,241,246 - 1,241,246 (1,241,246) - Total 16,958,333 8,961,772 25,920,105 (1,241,246) 24,678,859 Segment Profit 3,312,388 2,123,924 5,436,312 39,859 5,476,171 Segment Assets 20,838,906 18,147,075 38,985,982 546,727 39,532,710 Other items Depreciation 106,608 506,910 613,518 990 614,509 Increase in property, plant and equipment and intangible assets 101,626 3,681,722 3,783,349 1,106 3,784,455 Note: 1. The amount of adjustment is as follows. (1) The adjustment amount of 39,859 thousand yen in segment profit is the elimination of inter -segment transactions and company-wide expenses. (2) The adjusted amount of 546,727 thousand yen for segment assets is the elimination of inter -segment transactions and company-wide assets. (3) The depreciation and amortization adjustment of 990 thousand yen is the depreciation of assets related to the Company's a dministrative divisions that are not attributable to the reporting segment. (4) The adjustment amount of 1,106 thousand yen for the increase in property, plant and equipment and intangible assets is th e amount of capital expenditure in the Company's administrative division, which is not attributable to the reporting segment. 2. The total amount of segment profit is in line with the operating profit in the consolidated financial statements.
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Related Information The previous fiscal year (July 1, 2024 to June 30, 2025) 1. Product and Service Information (Thousands of yen) Drug Substance Sales Business Pharmaceutical Marketing Business Total Revenues from external customers 14,600,557 8,668,673 23,269,231 2. Regional Information (1) Net sales Since sales to external customers in Japan exceed 90% of sales in the consolidated statements of income, the description is o mitted. (2) Property, plant and equipment Since there are no property, plant and equipment located outside of Japan, there is no applicable matter. 3. Information per main customer (Thousands of yen) Name or surname of the customer Sales Relevant Segment Names Fuso Pharmaceutical Co., Ltd. 5,019,474 Drug substance sales business and pharmaceutical manufacturing and sales business The current fiscal year (July 1, 2025 to June 30, 2026) 1. Product and Service Information (Thousands of yen) Drug Substance Sales Business Pharmaceutical Marketing Business Total Revenues from external customers 15,717,087 8,961,772 24,678,859 2. Regional Information (1) Net sales Since sales to external customers in Japan exceed 90% of sales in the consolidated statements of income, the description is o mitted. (2) Property, plant and equipment Since there are no property, plant and equipment located outside of Japan, there is no applicable matter. 3. Information per main customer (Thousands of yen) Name or surname of the customer Sales Relevant Segment Names Fuso Pharmaceutical Co., Ltd. 5,641,825 Drug substance sales business and pharmaceutical manufacturing and sales business Towa Pharmaceutical Co., Ltd. 3,003,253 Drug Substance Sales Business Information on impairment losses on fixed assets by reporting segment Not applicable. Information on amortization and unamortized balances of goodwill by reporting segment Not applicable. Information on Negative Goodwill Accrual Gains by Reporting Segment Not applicable.