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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Financial Results For the nine months ended December 31, 2025 February 12, 2026
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Full Year FY25/3 Full Year FY26/3 Actual Pre-revision forecast Post-revision forecast YoY Revenue 686.5 760.0 760.0 +10% Operating profit 105.0 115.0 115.0 +9% Net profit (attributable to owners of parent) 117.5 115.0 120.0 +2% Net profit revised upward by +5 billion yen Revision to Earnings Forecast (Billion JPY) *Assumed USD/JPY exchange rate: 150 yen (Revised from the initial assumption of 146 yen at the beginning of the fiscal year) 1
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Revenue Recurring operating profit Operating profit Share of profit (loss) of equity- method investments Dividend and interest income Interest expense Pre-tax profit Net profit Compreh ensive income Realized gain and loss Change in unrealized gain and loss FY21/3 Q3 139.1 31.7 18.3 1.4 2.5 1.5 23.0 13.6 26.8 1.8 11.4 Q4 154.3 11.5 3.3 1.2 0.9 1.5 9.0 11.0 44.7 2.8 30.8 FY22/3 Q1 133.4 33.1 24.3 1.2 4.8 1.6 30.2 20.6 31.6 5.9 5.7 Q2 137.9 33.6 24.6 1.2 1.5 1.7 30.6 19.5 32.1 0.9 11.2 Q3 142.4 32.2 19.2 0.9 3.5 1.6 24.7 18.6 16.8 1.6 (3.5) Q4 159.2 27.9 15.2 2.9 1.2 1.8 22.9 28.6 33.4 2.0 2.6 FY23/3 Q1 143.4 30.3 18.2 1.7 6.2 1.8 40.5 27.6 22.6 0.6 (6.9) Q2 166.5 21.9 27.8 1.4 3.1 1.8 41.6 32.2 51.1 4.5 13.9 Q3 160.5 33.0 20.0 1.6 5.6 2.0 12.1 6.7 15.6 1.2 8.4 Q4 173.4 41.7 20.3 3.7 2.9 2.1 24.0 24.7 44.6 4.8 15.3 FY24/3 Q1 140.1 38.4 23.9 1.9 9.9 2.1 47.5 32.7 71.2 4.3 32.4 Q2 156.3 39.1 24.5 3.0 5.0 2.1 39.6 29.0 51.2 10.7 7.6 Q3 150.2 35.8 26.0 2.4 8.6 2.3 20.7 12.0 27.6 12.7 6.4 Q4 155.2 37.5 20.0 5.6 6.9 2.3 60.0 48.3 115.7 6.8 57.4 FY25/3 Q1 146.1 38.5 27.2 3.0 15.1 2.4 65.7 45.8 74.2 3.3 22.1 Q2 179.6 42.4 30.2 3.2 7.7 2.5 3.3 2.3 (15.2) 4.4 (16.4) Q3 173.0 43.4 29.1 5.1 10.2 3.3 74.9 54.5 92.4 4.6 25.8 Q4 187.7 42.6 18.4 6.2 6.8 3.6 6.6 14.7 10.7 4.9 (5.1) FY26/3 Q1 167.1 43.5 27.5 2.9 16.5 2.9 35.5 28.1 51.5 8.9 16.5 Q2 194.5 48.5 30.0 5.7 9.8 4.2 52.6 42.1 108.6 8.9 57.8 Q3 180.8 45.5 30.9 6.0 12.7 4.3 67.7 42.3 80.0 10.2 14.2 5-year CAGR 5% 7% 10% 32% 37% 22% 24% 25% 24% 40% 4% (Billion JPY) The growth rate of net profit over the past five fiscal years was 25% Quarterly Growth Rate for 5 Fiscal Years (1) *The share of profit (loss) of equity-method investments includes only the portion of profit or loss recognized, excluding one-time amortization of negative goodwill and other similar items. 2
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved *Net asset before shareholder returns indicates the level of net assets that would have been recorded since the company’s inception, assuming no capital inflows from shareholders and no returns to shareholders . Quarterly Growth Rate for 5 Fiscal Years (2) The equity ratio was 41.6% as of the end of the third quarter of the fiscal year ending March 2026 Balance Sheet Per Share Shareholder Returns Net cash assets Total assets Net assets Net assets before shareholder returns* Total equity attributable to owners of parent Equity ratio attributable to owners of parent EPS (Yen) BPS (Yen) Dividend (Yen) Share repurchase Dividend payments FY21/3 Q3 287.5 1109.5 388.6 451.9 353.9 31.9% ¥298 ¥7,715 ¥117 0.0 5.3 Q4 321.4 1256.8 429.0 497.6 393.4 31.3% ¥240 ¥8,575 ¥117 0.0 5.3 FY22/3 Q1 334.7 1306.9 447.1 531.0 411.4 31.5% ¥452 ¥9,057 ¥119 9.8 5.4 Q2 374.0 1312.5 468.2 557.7 435.8 33.2% ¥431 ¥9,594 ¥121 0.0 5.4 Q3 355.3 1384.2 475.5 574.2 443.7 32.0% ¥410 ¥9,811 ¥124 3.5 5.6 Q4 343.6 1451.3 499.3 605.0 468.6 32.2% ¥610 ¥10,380 ¥127 1.3 5.7 FY23/3 Q1 350.0 1473.3 509.9 626.4 480.6 32.6% ¥615 ¥10,725 ¥131 5.0 5.8 Q2 389.6 1605.9 554.5 677.1 525.4 32.7% ¥718 ¥11,725 ¥135 0.0 6.0 Q3 393.0 1621.1 562.2 691.0 534.6 32.9% ¥182 ¥11,931 ¥138 0.0 6.1 Q4 440.2 1691.9 598.3 735.5 571.0 33.7% ¥541 ¥12,773 ¥141 2.0 6.3 FY24/3 Q1 518.5 1773.8 651.2 798.1 622.9 35.1% ¥733 ¥13,986 ¥143 3.3 6.3 Q2 582.5 1823.0 690.8 848.8 662.4 36.3% ¥653 ¥14,940 ¥145 4.6 6.4 Q3 602.7 1896.5 709.2 876.9 682.7 35.9% ¥273 ¥15,444 ¥147 3.2 6.4 Q4 774.0 2078.9 819.2 995.2 790.4 38.0% ¥1,108 ¥17,907 ¥203 1.7 8.9 FY25/3 Q1 837.5 2173.4 883.8 1069.1 857.1 39.4% ¥1,040 ¥19,415 ¥156 0.0 6.8 Q2 793.8 2122.4 857.0 1055.0 829.6 39.0% ¥52 ¥18,865 ¥161 5.4 7.0 Q3 861.9 2284.8 938.9 1148.7 910.8 39.8% ¥1,244 ¥20,768 ¥167 4.5 7.3 Q4 824.3 2371.0 943.5 1160.6 914.7 38.5% ¥337 ¥20,845 ¥177 0.0 7.7 FY26/3 Q1 808.5 2346.4 989.5 1214.4 958.5 40.8% ¥641 ¥21,810 ¥181 0.0 7.9 Q2 967.5 2582.8 1091.7 1325.3 1059.7 41.0% ¥960 ¥24,128 ¥185 0.0 8.1 1,011.1 2,716.6 1,162.6 1,406.7 1,131.9 41.6% ¥964 ¥26,517 ¥190 2.1 8.3 5-year CAGR 28% 19% 24% 25% 26% - 26% 28% 10% - 9% 3 (Billion JPY)
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved 9M FY26/3 Full Year FY26/3 Actual YoY Major reasons for the increase/decrease Forecast Progress Rate Revenue 542.5 +8% Strong customer acquisition in the electricity and insurance businesses 760.0 71% Recurring operating profit 137.6 +10% Same as above 187.0 73% Operating profit 88.5 +2% 115.0 76% Pre-Tax profit 155.9 +8% Foreign exchange loss of ¥19.4 billion (up ¥0.9 billion year on year) Dividend and interest income of ¥39.0 billion (up ¥6.0 billion in the same) 173.0 90% Pre-tax profit excluding foreign exchange gains and losses 136.5 +8% Same as above 169.1 80% Net profit 112.6 +9% - 120.0 93% Comprehensive income 240.2 +58% Unrealized gains up ¥88.6 billion from the end of the previous fiscal year - - (Reference) Operating profit excluding one-time gains and losses 86.4 +3% Gains on acquisition and sale of subsidiaries, etc.: ¥2.0 billion 114.0 75% Record-high performance across all metrics (9M cumulative) Further upward revision of full- year net profit (Billion JPY) *One-time gains and losses mainly refer to gains or losses associated with the acquisition or loss of control of subsidiaries, gains or losses on business transfers, gains or losses on the sale of fixed assets, and impairment losses. 4
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Revenue Recurring operating profit Customer acquisition cost Operating profit FY25/3 FY26/3 YoY FY25/3 FY26/3 YoY FY25/3 FY26/3 YoY FY25/3 FY26/3 YoY 9M 9M 9M 9M 9M 9M 9M 9M Total 498.8 542.5 +8% 124.5 137.6 +10% (37.9) (49.1) +29% 86.5 88.5 +2% Electricity & Gas 204.7 231.7 +13% 45.1 49.6 +9% (18.3) (23.6) +29% 26.8 25.9 (3%) Telecommunicatio ns 91.4 95.2 +4% 29.5 31.6 +7% (9.7) (10.3) +6% 19.8 21.2 +7% Beverage 59.6 64.3 +7% 23.3 26.3 +13% (15.7) (17.3) +10% 7.6 9.0 +18% Insurance 19.5 25.3 +29% 9.4 12.8 +35% (3.1) (5.4) +71% 6.3 7.4 +17% Finance 24.5 32.3 +31% - - - 14.4 16.7 +15% 14.4 16.7 +15% Solution 20.9 20.2 (3%) 6.2 6.9 +10% (3.0) (4.2) +36% 3.1 2.7 (14%) Commission- based sales 78.0 73.2 (6%) 10.6 10.1 (5%) (1.7) (2.5) +43% 8.8 7.5 (15%) One-time gains and losses - - - - - - 3.4 2.0 - 3.4 2.0 - Profit (Loss) by Business Segment (1)Electricity & Gas : Strong sales in low-voltage electricity and increased existing customers (2)Telecommunications : Strong sales in IT and increased existing customers (3)Beverage : Robust sales and increased existing customers (4)Insurance : Robust sales and increased existing customers (5)Finance : Solid performance in overseas operations (6)Solution :Steady sales and growth in recurring operating profit 5 (Billion JPY)
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Electricity High-Voltage Low-Voltage Total electricity 91% 134% 133% Telecommunications Beverage Insurance Total in-house products excluding Insurance and IT Communication line IT Beer server Small amount & short-term insurance 93% 155% 101% 113% 111% Strong acquisition in low-voltage electricity (retail customers), IT, and insurance contracts Strong Sales Year-on-year change in the number of customer acquisitions (9M FY26/3) 6
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 FY25/3 FY26/3 YoY Full year Full year Full year Full year Full year 9M 9M Pre-tax profit 82.1 108.5 118.4 168.0 150.7 144.0 155.9 +8% Pre-tax profit excluding foreign exchange gains and losses 80.6 98.0 112.6 139.9 153.4 125.6 136.5 +8% Operating profit 69.2 83.5 86.6 94.5 105.0 86.5 88.5 +2% Share of profit (loss) of equity-method investments * 4.8 6.3 9.4 13.0 17.7 11.5 14.7 +28% Dividend and interest income 8.1 11.1 18.0 30.5 39.8 33.0 39.0 +18% Interest expense (5.8) (6.9) (7.7) (9.0) (11.9) (8.3) (11.5) (38%) Others 4.3 3.9 6.4 10.6 2.7 2.7 5.6 - Foreign exchange gains and losses 1.5 10.4 5.7 28.0 (2.7) 18.4 19.4 +5% * This represents only the share of profit (loss) under the equity method, excluding negative goodwill and gains from changes in ownership interests. Pre-Tax Profit (Billion JPY) Pre-tax profit increased by 8% YoY 7
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 Full year Full year Full year Full year Full year Operating cash flow 73.2 74.3 82.4 124.3 75.6 EBITDA 85.6 100.2 102.8 109.0 119.1 Operating profit 69.2 83.5 86.6 94.5 105.0 Depreciation expense 16.4 16.7 16.2 14.5 14.0 Changes in receivables and payables, etc. (12.5) (25.9) (20.4) 15.3 (43.4) Time deposits over three months - - - - - Dividend and interest income 10.6 14.2 20.9 33.8 44.9 Shareholder returns (20.3) (36.6) (30.8) (38.9) (40.2) Investments in listed stocks and bonds (84.7) (88.2) (87.5) (81.7) (146.6) Financing 115.6 99.1 102.2 102.7 107.8 Others (taxes, interest payments, etc.) (43.1) (57.6) (42.4) (49.4) (67.3) FY25/3 FY26/3 YoY Q3 Q3 49.4 (8.5) (117%) 97.1 101.0 +3% 86.5 88.5 +2% 10.5 12.5 +18% (41.2) (88.5) +129% (6.5) (21.1) - 35.7 43.4 +21% (32.9) (26.0) (21%) (132.8) (154.1) +16% 60.4 88.8 +46% (54.9) (32.2) (41%) Cash Flow (Billion JPY) *1 *2 Dividend and interest income increased by 21% YoY *1: Decreased primarily resulting from an increase in receivables in the Finance business *2: Decreased primarily due to the purchase of listed equities and bonds 8
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 Full year Full year Full year Full year Full year Total equity attributable to owners of parent 393.4 468.6 571.0 790.4 914.7 Balance at the end of the previous fiscal year 285.7 393.4 468.6 571.0 790.4 Changes during the current period +107.6 +75.2 +102.3 +219.4 +124.2 Net profit +54.6 +87.5 +91.3 +122.2 +117.5 Gain (loss) on sale of securities +7.5 +9.6 +11.2 +34.6 +17.2 Change in unrealized gains +68.2 +16.2 +30.8 +104.0 +26.4 Shareholder returns (20.3) (36.6) (30.9) (38.6) (40.2) Others (2.3) (1.5) (0.1) (2.8) +3.2 Changes in equity attributable to owners of parent FY25/3 FY26/3 YoY Q3 Q3 910.8 1,131.9 +24% 790.4 914.7 +15% +120.3 +217.1 +80% +102.7 +112.6 +9% +17.8 +28.0 +57% +26.1 +88.6 +238% (34.2) (26.0) (24%) +7.7 +13.7 - (Billion JPY) Maintained above 1 trillion yen, up 24% YoY * Due to the retrospective revision of gain (loss) on the sale of securities after tax, the amount of unrealized gains has also been adjusted. 9
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 FY25/3 FY26/3 YoY Full Year Full Year Full Year Full Year Full Year Q3 Q3 Acquisition cost (A) 357.3 456.0 532.6 590.2 725.4 697.8 831.9 +19% Unrealized gain 148.4 162.0 226.6 411.1 444.6 490.0 615.0 +25% Market Value 505.8 618.0 759.2 1,001.3 1,170.0 1,187.8 1,446.9 +21% Look-through earnings (B) (last 12 months) 44.6 70.8 80.3 83.2 114.8 107.7 136.7 +26% Earnings yield (B)÷(A) 12.5% 15.5% 15.1% 14.1% 15.8% 15.4% 16.4% +6% Dividend yield (based on acquisition cost, cash flow, and results for the last 12 months) 2.7% 3.0% 3.4% 4.1% 3.9% 3.9% 4.1% +2% Dividend income (P/L) (C) 7.3 10.6 14.5 18.6 21.5 19.2 25.5 +32% Realized gain (comprehensive income) (D) 10.8 13.9 16.2 54.6 25.7 17.8 36.6 +105% Total (C)+(D) 18.1 24.6 30.7 73.2 47.2 37.0 62.1 +67% (Billion JPY) Pre-tax IRR of 18% over the last 8 years Investment Holdings Performance * “Look-through earnings” is calculated by multiplying the operating profit of each of the companies we invested in by our owner ship interest and summing the results. * “Last 12 months” refers to the four quarters whose financial results were announced within the 12 months immediately preced ing the record date. * Earnings Yield is calculated by dividing look-through earnings by acquisition cost. 10
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Company name Voting rights ratio 1 BENEFIT JAPAN Co.,LTD. 43.1% 2 SINANEN HOLDINGS CO.,LTD. 42.2% 3 INEST, Inc. 40.8% 4 Kusurinomadoguchi,Inc. 39.3% 5 MS&Consulting Co.,Ltd. 37.0% 6 Last One Mile Co.,Ltd. 36.4% 7 Bell-Park Co.,Ltd. 34.7% 8 MTI Ltd. 34.2% 9 TOUMEI CO.,LTD. 33.1% 10 ULURU.CO.,LTD. 31.5% 11 SUNNEXTA GROUP Inc. 31.2% 12 DVx Inc. 29.8% 13 DAIICHI JITSUGYO CO.,LTD. 29.4% 14 Honyaku Center Inc. 28.3% Company name Voting rights ratio 29 AKATSUKI EAZIMA CO.,LTD 22.5% 30 AJIS CO., LTD. 22.4% 31 FAN Communications, Inc. 22.4% 32 Maruzen Co., Ltd. 22.4% 33 Techno Smart Corp. 22.1% 34 TOHOKU STEEL Co.,Ltd 22.0% 35 erex Co.,Ltd. 21.8% 36 S-Pool, Inc. 21.3% 37 Token Corporation 20.9% 38 Arbeit-Times Co., Ltd 20.7% 39 TOHO SYSTEM SCIENCE CO.,LTD. 20.5% 40 Fullcast Holdings Co., Ltd. 20.4% 41 Original Engineering Consultants Co., Ltd. 20.4% 42 MEDIA DO Co., Ltd. 20.4% 43 Yuasa Funashoku Co., Ltd. 20.0% Company name Voting rights ratio 15 TVE Co.,Ltd. 27.9% 16 TOKUDEN CO., LTD. 26.7% 17 XNET Corporation 26.2% 18 SANSEI CO.,LTD. 25.4% 19 FORVAL CORPORATION 25.2% 20 Data Applications 25.2% 21 NISHIKAWA KEISOKU Co.,LTD. 24.7% 22 CE Holdings Co.,Ltd. 24.2% 23 Encourage Technologies Co.,Ltd. 23.9% 24 Inbound Tech Inc. 23.2% 25 KAINOS Laboratories, Inc. 23.2% 26 ERI HOLDINGS CO., LTD. 23.0% 27 Youji Corporation 23.0% 28 RAIZNEXT Corporation 22.6% Publicly Listed Equity-method Affiliates 43 publicly listed equity-method affiliates as of the end of December 2025 (Addition of 2 companies from the end of September 2025) *Change in listed equity-method affiliates: 2 companies added, 0 company removed. 11
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Upward revision to dividend forecast FY25/3 FY26/3 November announcement February announcement YoY Dividend per share Total ¥661 ¥736 ¥746 +12％ Q1 Regular dividend ¥156 ¥181 ¥181 +16％ Q2 Regular dividend ¥161 ¥185 ¥185 +14％ Q3 Regular dividend ¥167 ¥185 ¥190 +13％ Q4 Regular dividend ¥177 ¥185 ¥190 +7％ The third-quarter dividend was increased by 5 yen per share. Dividend increase expected for the 15th consecutive fiscal year with no dividend reduction for the 23rd consecutive fiscal year. 12
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved 14.6 16.3 21.5 17.9 20.3 36.6 30.9 38.6 40.2 38.1 Trends in Shareholder Returns (Billions JPY) 10-year cumulative total payout ratio 35% Share repurchase Dividend payment FY17/3 FY18/3 FY19/3 FY20/3 FY21/3 FY22/3 FY23/3 FY24/3 FY25/3 FY26/3 (E) Total Total amount of dividends paid 10.2 13.3 15.5 17.8 20.3 21.8 23.8 25.6 30.2 32.1 211.2 Total amount of share repurchases 4.3 3.0 6.0 0.0 0.0 14.7 7.0 13.0 10.0 6.0 64.3 Total payout ratio 37% 38% 43% 34% 37% 41% 33% 31% 34% 31% 35% Resolution to increase dividends 13*Of the total ¥10 billion share repurchase authorized on November 11, 2025, approximately ¥6 billion is expected to be repurchased during the current fiscal year. *
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved Third Quarter summary Operating Business (1) Recurring operating profit increased by 10.5% year on year. (2) Revenue, recurring operating profit, and operating profit marked all-time highs in the first nine months (Q3 cumulative). Investment Holdings (1) EY was 16.4%, and look-through earnings amounted to ¥136.7 billion, up 26% year on year. (2) Dividend and interest income (P/L) increased by ¥39.0 billion, up 18% year on year. Shareholder Returns (1) Dividend increased by ¥5 from the previous forecast, resulting in a record-high dividend per share. (2) Dividend increase expected for the 15th consecutive fiscal year with no dividend reduction for the 23rd consecutive fiscal year. A cumulative total payout ratio is approximately 35% over the past 10 years. (3) Of the total share repurchase amount of ¥10 billion, ¥2.15 billion has been executed as of December 31, 2025. 14
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved 15 ■ Explanation of Terms * Japanese GAAP applied before FYE 3/15, and IFRS applied after FYE 3/16 * Results for in-house and third-party products prior to FYE 3/18 are provisional figures as they were before the change in reporting segments. * ROA: By dividing operating profit by total assets (the average during the period) * ROE: By dividing net income attributable to owners of parent by equity (the average during the period) * “Hypothetical consolidated performance" is the sum of the “consolidated performance” and the “performance using equity method” calculated by multiplying the figures of each company we invested in by our stock holding ratio. It represents the real performance of the Company * Hypothetical consolidated ROE: By dividing hypothetical consolidated net income attributable to owners of parent by equity (the average during the period) *Sales per capita: By dividing sales by the number of employees (the average during the period) *Operating profit per capita: By dividing operating profit by the number of employees (the average during the period) Term J-GAAP IFRS Sales Sales Revenue Net income Net income Net income attributable to owners of parent Equity Equity Equity attributable to owners of the parent EPS Earnings per Share Basic earnings per Share BPS Book value per share Equity per Share attributable to owners of the parent Disclaimer Information mentioned in this material, other than that related to historical and current facts, is determined based on information currently available to HIKARI TSUSHIN and hypotheses built. Since information may be affected by uncertainties included in such hypothesis and judgement, and by changes in the future economic environment, etc., it may differ from future performance of the Company and the HIKARI TSUSHIN Group. The forward-looking statements contained in this material are prepared as of the date of this material (or the date otherwise specified) as mentioned above. The Company neither has an obligation nor policy to update such forward-looking statements with the latest information whenever necessary. Furthermore, information in regard to matters other than the Company or Group companies stated in this material are cited from sources such as public information. The accuracy and adequacy of such information are not verified by the Company, and therefore are not guaranteed. The Company will not be held responsible for any damage that may occur as a result of the use of this material. Notes in Regard to Insider Trading An investor (primary information receiver) who has received non-public material facts directly from a company shall not make sales or purchases of stocks, etc. before such information is “publicized” (Article 166 of Financial Instruments and Exchange Act). In accordance with the provisions of Article 30 of the Order for Enforcement of the Financial Instruments and Exchange Act, information is deemed to have been made “public” 12 hours after such information has been publicized in two or more journalistic organizations, or when notification to the security exchange is made by the company and further listed via electronic means (TDnet’s Timely Disclosure Information Viewing Service and EDINET public website) as provided by the Cabinet Office Ordinance. Explanation of Terms and Disclaimer, etc. ■ Notes in regard to this material
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©2026 HIKARI TSUSHIN,INC. All Rights Reserved