Interim report
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Translation 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 . Consolidated Financial Results for the Six Months of the Fiscal Year Ending December 31 , 2026 ( Under Japanese GAAP ) August 6 , 2026 Company name : Stock exchange listings : Stock code : URL : Representative : Contact : Bell - Park Co. , Ltd. Tokyo Stock Exchange 9441 https://www.bellpark.co.jp Kento Nishikawa , President & CEO Masaya Yoshizawa , Director , General Manager of Corporate Planning + 81-3-3288-5211 August 6 , 2026 September 7 , 2026 TEL : Scheduled date for submission of interim report : Scheduled payment date for the interim dividend : Supplementary materials for financial summaries : Yes Financial results briefing : Yes ( Amounts of less than one million yen are rounded down . ) 1. Consolidated Financial Results for the Six Months of the Fiscal Year Ending December 31 , 2026 ( from January 01 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( Cumulative ) ( Percentages indicate YoY changes ) Profit attributable to Revenue Operating profit Ordinary profit owners of parent Million yen % Million yen % Million yen % Million yen % Six months ended June 30 , 2026 June 30 , 2025 67,838 64,231 5.6 12.4 5,057 3,762 34.4 38.8 5,164 3,790 36.2 3,514 37.1 37.2 2,562 28.1 ( Note ) Comprehensive income Interim period of fiscal year ending December 2026 3,504 million yen ( 40.3 % ) Interim period of fiscal year ending December 2025 2,497 million yen ( 27.6 % ) Six months ended June 30 , 2026 June 30 , 2025 ( 2 ) Consolidated financial positions Basic earnings per share Diluted earnings per share Yen Yen 287.09 133.44 Total assets Equity Equity to total assets ratio Net assets per share Million yen Million yen % Yen 29,659 26,950 69.0 2,423.06 42,996 43,597 As of June 30 , 2026 December 31 , 2025 Previous fiscal year ending December 2025 26,950 million yen 61.8 ( Reference ) Owner's equity Current interim period of fiscal year ending December 2026 29,659 million yen 2,201.73
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2. Cash dividends Annual dividends per share 1 st quarter-end 2 nd quarter-end 3 rd quarter-end Fiscal year-end Total Yen Yen Yen Yen Yen Fiscal year ended December 31, 2025 - 37.00 - 65.00 102.00 Fiscal year ending December 31, 2026 - 51.00 Fiscal year ending December 31, 2026 (Forecast) - 93.00 144.00 (Note) Whether there have been any revisions to the most recently announced dividend forecast : None 3. Consolidated Earnings Forecasts for the Fiscal Year Ending December 31, 2026 (from January 01, 2026 to December 31, 2026) (Percentages indicate YoY changes) Revenue Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Million yen % Million yen % Million yen % Million yen % Yen Fiscal year ending December 31, 2026 130,000 0.5 6,600 12.2 6,900 14.7 4,650 12.6 379.88 (Note) Correction of financial forecast from the most recent financial forecast : None ※ Notes (1) Significant changes in the scope of consolidation during the period : None (2) Application of accounting treatments specific to the preparation of interim consolidated financial statements : None (3) Changes in accounting policies, Changes in accounting estimates, Retrospective restatement (i) Changes in accounting policies based on revisions of accounting standard : None (ii) Accounting policy changes other than (i) : None (iii) Changes in accounting estimates : None (iv) Retrospective restatement : None (4) Number of issued and outstanding shares (common stock) ※ Second-quarter (interim period) financial results are not subject to review by a certified public accountant or audit corporation. (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 12,240,712 shares As of December 31, 2025 12,240,712 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 - shares As of December 31, 2025 - shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended June 30, 2026 12,240,712 shares Six months ended June 30, 2025 19,202,038 shares
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※ Explanation regarding the appropriate use of Forecasts, Other matters of note (Cautionary Note Regarding Forward-Looking Statements, etc.) Forward-looking statements such as performance forecasts stated in this document are based on information currently available to the Company and certain assumptions that the Company considers reasonable, and are not intended to constitute a commitment by the Company to achieve them. In addition, actual performance, etc. may differ significantly due to various factors. For the assumptions underlying Forecasts and notes concerning the use of Forecasts, please refer to "Explanation Regarding Consolidated Forecasts and Other Forward-Looking Information" on page 3 of the Attachments to this document. The Company will hold a financial results briefing (for institutional investors and analysts) online as follows. The materials for the briefing are scheduled to be posted on the Company’s website today. ・August 7, 2026 (Friday) ・・・・・・ Online financial results briefing (for institutional investors and analysts)
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1 ○Table of Contents of Attached Materials 1. Overview of Operating Results, etc. 2 (1) Overview of Operating results for the Current interim period 2 (2) Overview of Financial positions for the current interim period 2 (3) Explanation Regarding Consolidated Forecasts and Other Forward -Looking Information 3 2. Interim Consolidated Financial Statements and Major Notes 4 (1) Interim consolidated Balance sheet 4 (2) Interim consolidated Statement of income and interim consolidated Statement of comprehensive income 5 Interim consolidated Statement of income 5 Interim consolidated Statement of comprehensive income 6 (3) Interim consolidated Statement of cash flows 7 (4) Notes to the Interim Consolidated Financial Statements 8 (Notes on Going Concern Assumption) 8 (Notes on Significant Changes in Shareholders' Equity) 8 (Notes to the interim consolidated Balance sheet) 8 (Notes on the interim consolidated Statement of cash flows) 8 (Notes to Segment Information, etc.) 8 (Significant Subsequent Events) 8
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2 1. Overview of Operating Results, etc. (1) Overview of Operating results for the Current Interim Period During the Current interim consolidated accounting period, Japan's economy remained on a moderate recovery trend against the backdrop of improvements in the employment and inco me environment, while the outlook for the economy r emained uncertain due to fluctuations in resource prices resulting fr om the impact of U.S. tariff policies and the incre asingly tense situation in the Middle East, as well as continued price increases. In the mobile phone and other device sales market, which is the main business area of our Group, repla cement cycles have continued to lengthen due to rising device prices against the backdrop of strengthened regulations on device discounts, among other factors. In addition, telecommunications operators have been expanding rate plans that strengthen their collaboration with financial and payment services, further diversifying the opti ons available to customers. At points of sale, the importance of proposal and consulting capabilities tailored to the needs of each individual customer has been increasing further. Under these business conditions, in the carrier sho p business, we continued to conduct event sales at shopping malls and other venues, while strengthening proposals for easy-to-understand pricing plans linked with financial and payment services in response to diversifying pricing plans. Specifically, we focused on the bundled sales of mobile terminals (with lines), optical lines, and credit cards, which enable customers to continuously enjoy the benefits of reducing Communication expenses an d also lead to lower cancellation rates. In the corporate solutions busi ness, in addition to strengthening the organization al structure for business expansion, we promoted the provision of services such as kitting service outsourcing. As a result, although the number of units sold decreased, mainly due to a decrease in SIM-only contracts, Net sales exceeded the same period of the previous year due to an increase in the unit selling price of mobile phones (with lines) accompanying the rise in device prices and the expansion of sales of ancilla ry products. In addition, stock revenue remained so lid due to an increase in the number of subscribers to flat-rate support. On the other hand, Selling, general and administrative exp enses increased due to increases in Personnel expenses and Promotion expenses. Business results for the Current interim consolidat ed accounting period were Net sales 67,838 million yen (up 5.6% year on year), Operating profit 5,057 million yen (up 34.4% year on year), Ordinary profit 5,164 million yen (up 36.2% year on year), and Profit attributable to owners of parent 3,514 million yen (up 37.1% year on year). [For reference: Number of carrier shops] The number of carrier shops operated by our Group was 317 stores as of the end of June 2026. (As of the end of June 2026) Directly operated stores Franchise Total SoftBank Shop 233 54 287 Docomo Shop 9 - 9 au Shop 6 - 6 Y!mobile shop 13 2 15 Total 261 56 317 ※Compared with the end of December 2025, the number of directly operated stores decreased by 5, and the number of franchise stores decreased by 1. *Compared with the end of June 2025, company-operated stores decreased by 15, while franchise stores increased by 2. (2) Overview of Financial positions for the Current interim period ( Assets) At the end of the current interim consolidated accounting period, total Assets amounted to 42,996 million yen, a decrease of 601 million yen compared with the end of the previous consolidated fiscal year. This was mainly due to an increase of 2,882 million yen in Cash and deposits, while Inventories decreased by 2,359 million yen and Accounts receivable - trade decreased by 925 million yen. ( Liabilities) As of the end of the Current interim consolidated accounting period, Liabilities amounted to 13,336 million yen, a decrease of 3,310 million yen compared with the end of the Previous consolidated fiscal year. This was mainly due to a decrease of 3,540 million yen in Accounts payable - trade, despite an increase of 566 million yen in Income taxes payable. ( Net assets) At the end of the Current interim consolidated accounting period, Net assets amounted to 29,659 million yen, an increase of 2,709 million yen compared with the end of the Previous consolidated fiscal year. This was mainly due to an increase of 3,514 million yen in Retained earnings attributable to Profit attributable to owners of parent and a decrease of 795 million yen in Retained earnings due to the payment of year-end dividends related to the financial results for the Previous consolidated fiscal year.
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3 Also, Equity to total assets ratio increased by 7.2 points from the end of the previous consolidated fiscal year to 69.0%. (3) Explanation Regarding Consolidated Forecasts and Other Forward-Looking Information With regard to the Forecasts stated in this document, as of the time of publication of this document, there have been no changes to the Forecasts announced in the "Notice of Revisions to the First Half and Full-Year Forecasts for 2026, and the Year-end Dividend Forecast (Dividend Increase)" dated July 28, 2026.
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4 2.Interim Consolidated Financial Statements and Major Notes (1) Interim consolidated Balance sheet (Unit: Thousands of yen) Previous consolidated fiscal year (December 31, 2025) Current interim consolidated accounting period (June 30, 2026) Assets Current assets Cash and deposit 13,424,252 16,306,757 Accounts receivable - trade 12,966,336 12,040,645 Inventories ※2 7,968,121 ※2 5,608,951 Other 588,775 622,500 Total current asset 34,947,485 34,578,855 Non -current assets Property, plant, and equipment 1,600,488 1,557,794 Intangible assets Goodwill 12,242 4,402 Others 30,357 41,370 Total intangible assets 42,599 45,772 Investments Other assets Investment securities 3,970,219 3,878,085 Leasehold deposits 2,019,360 1,994,745 Other 1,017,486 941,319 Investments Other assets Total 7,007,067 6,814,151 Total non -current assets 8,650,155 8,417,718 Total assets 43,597,641 42,996,573 Liabilities Current liabilities Trade payables 10,816,170 7,275,971 Income taxes payable 1,135,887 1,702,800 Provision for bonuses 450,899 467,770 Refund Liabilities 416,273 369,817 Other 3,082,450 2,788,745 Total current liabilities 15,901,681 12,605,104 Non -current liabilities Long -term borrowings 50,000 40,000 Liabilities for retirement benefits 6,692 6,692 Asset retirement obligations 622,546 618,888 Other 65,934 65,934 Total non -current liabilities 745,173 731,515 Total liabilities 16,646,854 13,336,619 Net assets Shareholders' equity Share capital 1,148,322 1,148,322 Capital surplus 1,602,729 1,602,729 Retained earnings 24,318,918 27,037,434 Total shareholders' equity 27,069,970 29,788,486 Accumulated other comprehensive income Valuation difference on available-for-sale securities (119,183) (128,532) Accumulated other comprehensive income total (119,183) (128,532) Total net assets 26,950,786 29,659,954 Total liabilities and net assets 43,597,641 42,996,573
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5 (2) Interim consolidated Statement of income and interim consolidated Statement of comprehensive income (Interim consolidated Statement of income) (Unit: Thousands of yen) Previous interim consolidated accounting period (From January 1, 2025 To June 30, 2025) Current interim consolidated accounting period (From January 1, 2026 to June 30, 2026) Revenue 64,231,198 67,838,745 Cost of sales 48,435,713 49,800,999 Gross profit 15,795,484 18,037,746 Selling, general and administrative expenses Promotion expenses 2,016,572 2,575,158 Salaries 3,824,909 4,131,953 Miscellaneous wages 115,204 142,142 Provision for bonuses 609,521 467,770 Retirement benefit expenses 179,581 173,351 Rent expenses on land and buildings 1,414,288 1,373,988 Other 3,873,090 4,116,150 Total selling, general and administrative expenses 12,033,169 12,980,515 Operating profit 3,762,315 5,057,230 Non -operating income Interest income 9,623 42,829 Dividend income 56,560 57,000 Gain on sale of goods 20 963 Income from support payments for store openings, etc. 2,358 4,614 Other 7,067 3,525 Total non -operating income 75,629 108,932 Non -operating expenses Interest expense 164 114 Commission expenses 42,002 - Rental expenses 1,452 242 Loss on investments in investment partnerships 2,553 212 Other 821 830 Total non -operating expenses 46,993 1,399 Ordinary profit 3,790,951 5,164,763 Extraordinary income Gain on sale of investment securities 1,294 - Gain on sale of non -current assets - 1,920 Others - 263 Total extraordinary income 1,294 2,184 Extraordinary losses Impairment losses 16,799 5,924 Costs associated with the withdrawal from stores, etc. 2,273 3,735 Other - 13 Total extraordinary losses 19,073 9,673 Net income before income taxes 3,773,173 5,157,273 Income taxes - current 1,248,782 1,578,650 Income taxes - deferred (37,925) 64,461 Total income taxes 1,210,856 1,643,111 Net income 2,562,316 3,514,162 Profit attributable to owners of parent 2,562,316 3,514,162
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6 (Interim consolidated Statement of comprehensive income) (Unit: Thousands of yen) Previous interim consolidated accounting period (From January 1, 2025 To June 30, 2025) Current interim consolidated accounting period (From January 1, 2026 Through June 30, 2026) Net income 2,562,316 3,514,162 Other comprehensive income (loss), net of tax Valuation difference on available -for -sale securities (64,859) (9,348) Other comprehensive income, net of tax (64,859) (9,348) Comprehensive income 2,497,457 3,504,814 Profit attributable to Interim Comprehensive income attributable to owners of parent 2,497,457 3,504,814
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7 (3) Interim consolidated Statement of cash flows (Unit: Thousands of yen) Previous interim consolidated accounting period (From January 1, 2025 to June 30, 2025) Current interim consolidated accounting period (From January 1, 2026 through June 30, 2026) Cash flows from operating activities Net income before income taxes 3,773,173 5,157,273 Depreciation 118,711 108,937 Amortization of goodwill 10,354 7,839 Impairment losses 16,799 5,924 Increase (decrease) in provision for bonuses 1,492 16,870 Interest income and dividends income (66,183) (99,829) Interest expense 164 114 Loss (gain) on sale of investment securities (1,294) 13 Commission expenses 42,002 - Loss (gain) on investments in investment partnerships 2,553 212 Decrease (increase) in trade receivables 1,546,044 925,690 (Increase) decrease in inventories 1,558,997 2,358,617 Increase (decrease) in trade payables (3,095,358) (3,540,198) Increase/decrease in accounts payable (- indicates a decrease) (261,749) (211,153) Increase (decrease) in accrued consumption taxes 281,367 95,972 Other (81,141) (185,978) Subtotal 3,845,932 4,640,307 Interest and dividends received 66,183 82,680 Interest paid (157) (107) Income taxes paid (820,050) (1,032,244) Cash flows from operating activities 3,091,907 3,690,636 Cash flows from investing activities Payments into time deposits - (1,106,331) Purchase of property and equipment (68,656) (78,609) Purchase of intangible assets (5,913) (22,840) Proceeds from the sale of investment securities 1,294 12,500 Proceeds from divestments - 47,211 Payments for acquisition of businesses (5,622) - Proceeds from collection of loan receivables 7,632 7,480 Payments of leasehold deposits (65,651) (22,678) Proceeds from refund of leasehold deposits 62,648 49,782 Other (21,878) 3,947 Cash flows from investing activities (96,146) (1,109,536) Cash flows from financing activities Repayment of long -term borrowings (10,000) (10,000) Acquisition of treasury shares (10,339,002) - Cash dividends paid (538,895) (794,925) Cash flows from financing activities (10,887,897) (804,925) Increase (decrease) in cash and cash equivalents (7,892,137) 1,776,173 Cash and cash equivalents at the beginning of the period 20,207,190 13,424,252 Balance of cash and cash equivalents at end of interim period ※1 12,315,053 ※1 15,200,426
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8 (4) Notes to the Interim Consolidated Financial Statements (Notes on Going Concern Assumption) There are no applicable matters. (Notes on Significant Changes in Shareholders' Equity) No applicable items. (Notes to the interim consolidated Balance sheet) 1 In our Group, we have entered into overdraft agreements with two transaction banks in order to efficiently procure working capital. The undrawn borrowing commitments under these contracts are as follows. Previous consolidated fiscal year (December 31, 2025) Current interim consolidated accounting period (June 30, 2026) Total overdraft limit 5,000,000 thousand yen 5,00 0,000 thousand yen Outstanding borrowings - - Net amount 5,000,000 5,000,000 ※2 The breakdown of Inventories is as follows. Previous consolidated fiscal year (December 31, 2025) Current interim consolidated accounting period (June 30, 2026) Merchandise 7,804,044 thousand yen 5,515,387 thousand yen Supplies 164,077 93,563 (Notes on the interim consolidated Statement of cash flows) ※1 Relationship between the balance of cash and cash equivalents at the end of the interim period and the amounts of the accounts presented in the interim consolidated Balance sheet Previous interim consolidated accounting period (From January 1, 2025 Through June 30, 2025) Current interim consolidated accounting period (From January 1, 2026 Through June 30, 2026) Cash and deposits account 12,315,053 thousand yen 16,306,757 thousand yen Time deposits with deposit periods exceeding three months - (1,106,331) Cash and cash equivalents 12,315,053 15,200,426 (Notes to Segment Information, etc.) [Segment Information] As our group operates a single segment, the information and communication equipment sales service business, disclosure is omitted. (Significant Subsequent Events) Not applicable.