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 . Consolidated Financial Results for the Six Months Ended June 30 , 2026 ( Under Japanese GAAP ) Company name : TRUSCO NAKAYAMA CORPORATION August 7 , 2026 FASF Listing : Tokyo Stock Exchange Securities code : 9830 URL : https://www.trusco.co.jp/ Representative : Tetsuya Nakayama Inquiries : Mikio Adachi Telephone : + 81-3-3433-9830 President Senior Executive Officer , Department General Manager of Business Management Department , Scheduled date to file semi - annual securities report : August 10 , 2026 Scheduled date to commence dividend payments : August 28 , 2026 Preparation of supplementary material on financial results : Yes Holding of financial results briefing : Yes ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated financial results for the six months ended June 30 , 2026 ( from January 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) ( Percentages indicate year - on - year changes . Profit attributable to Net sales EBITDA ( ∞ ) Operating profit Ordinary profit Millions of Six months ended yen June 30 , 2026 June 30 , 2025 178,204 158,233 % 12.6 10.3 Millions of yen Millions of Millions of owners of parent Millions of % % yen yen % % yen 15,889 14,572 9.0 14.0 12,483 11,825 5.6 12,217 4.3 8,444 5.8 20.0 11,716 17.7 7,984 18.4 Note : Comprehensive income ( * ) EBITDA is defined as operating profit plus depreciation expense . For the six months ended June 30 , 2026 : For the six months ended June 30 , 2025 : ¥ 9,014 million 18.5 % ] ¥ 7,605 million [ 4.7 % ] Six months ended June 30 , 2026 June 30 , 2025 ( 2 ) Consolidated financial position As of June 30 , 2026 December 31 , 2025 Basic earnings per share Yen 128.07 121.08 Diluted earnings per share Yen Total assets Net assets Millions of yen 339,515 308,359 Millions of yen 193,320 Equity - to - asset ratio % 56.9 186,252 60.4 ¥ 193,320 million ¥ 186,252 million Reference : Equity As of June 30 , 2026 : As of December 31 , 2025 :
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22222..... CCCCCaaaaassssshhhhh dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 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 - 30.50 - 29.50 60.00December 31, 2025 Fiscal year ending - 32.50December 31, 2026 Fiscal year ending December 31, 2026 (Forecast) - 28.50 61.00 Note: Revisions to the forecast of cash dividends most recently announced: None Note: Breakdown of the second quarter dividend for the fiscal year ending December 31, 2026 : Commemorative dividend - yen Special dividend - yen 33333..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuulllllttttt fffffooooorrrrreeeeecccccaaaaassssstttttsssss fffffooooorrrrr ttttthhhhheeeee fffffiiiiissssscccccaaaaalllll yyyyyeeeeeaaaaarrrrr eeeeennnnndddddiiiiinnnnnggggg DDDDDeeeeeccccceeeeemmmmmbbbbbeeeeerrrrr 3333311111,,,,, 22222000002222266666 (((((fffffrrrrrooooommmmm JJJJJaaaaannnnnuuuuuaaaaarrrrryyyyy 11111,,,,, 22222000002222266666 tttttooooo DDDDDeeeeeccccceeeeemmmmmbbbbbeeeeerrrrr 3333311111,,,,, 22222000002222266666))))) (Percentages indicate year-on-year changes.) Net sales EBITDA 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 % Millions of yen % Yen Third quarter-end~ Fiscal year-end 171,795 6.2 14,996 8.7 10,097 △8.1 9,741 △10.0 6,683 △15.4 101.35 Full year 350,000 9.4 30,886 8.9 22,580 (1.0) 21,958 (2.6) 15,127 (4.7) 229.42 Note: Revisions to the financial result forecast most recently announced: Yes ***** NNNNNooooottttteeeeesssss (1) Significant changes in the scope of consolidation during the period: None Newly included: - companies( ) Excluded: - companies( ) (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None (3) 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 (4) 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 66,008,744 shares As of December 31, 2025 66,008,744 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 68,875 shares As of December 31, 2025 68,385 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended June 30, 2026 65,940,093 shares Six months ended June 30, 2025 65,940,697 shares * Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters
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Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet (Millions of yen) As of December 31, 2025 As of June 30, 2026 Assets Current assets Cash and deposits 47,594 67,122 Accounts receivable - trade 40,099 43,468 Electronically recorded monetary claims - operating 3,140 2,241 Merchandise 68,178 74,474 Other 2,638 2,926 Allowance for doubtful accounts (4) (3) Total current assets 161,646 190,229 Non-current assets Property, plant and equipment Buildings, net 60,561 76,499 Machinery and equipment, net 6,428 15,107 Tools, furniture and fixtures, net 1,864 1,853 Land 39,371 39,337 Construction in progress 25,218 2,282 Other, net 1,952 2,323 Total property, plant and equipment 135,398 137,403 Intangible assets Software 4,163 6,627 Other 2,941 340 Total intangible assets 7,105 6,967 Investments and other assets Investment securities 3,007 4,123 Deferred tax assets 632 87 Deferred tax assets for land revaluation 154 154 Other 559 692 Allowance for doubtful accounts (143) (143) Total investments and other assets 4,209 4,915 Total non-current assets 146,712 149,286 Total assets 308,359 339,515
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(Millions of yen) As of December 31, 2025 As of June 30, 2026 Liabilities Current liabilities Accounts payable - trade 26,227 28,480 Short-term borrowings 10,000 20,000 Current portion of long-term borrowings 15,000 15,000 Accounts payable - other 7,116 3,515 Income taxes payable 3,637 3,791 Provision for bonuses 580 356 Provision for bonuses for directors (and other officers) - 66 Other 1,599 1,998 Total current liabilities 64,161 73,208 Non-current liabilities Long-term borrowings 55,000 70,000 Provision for retirement benefits for directors (and other officers) 151 151 Long-term guarantee deposits 2,786 2,833 Other 7 2 Total non-current liabilities 57,945 72,986 Total liabilities 122,107 146,195 Net assets Shareholders' equity Share capital 5,022 5,022 Capital surplus 4,711 4,711 Retained earnings 175,139 181,639 Treasury shares (84) (85) Total shareholders' equity 184,789 191,288 Accumulated other comprehensive income Valuation difference on available-for-sale securities 963 1,645 Revaluation reserve for land (335) (335) Foreign currency translation adjustment 834 722 Total accumulated other comprehensive income 1,462 2,032 Total net assets 186,252 193,320 Total liabilities and net assets 308,359 339,515
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Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Net sales 158,233 178,204 Cost of sales 124,898 141,297 Gross profit 33,334 36,907 Selling, general and administrative expenses Freight and packing costs 4,801 5,685 Remuneration for directors (and other officers) 149 148 Salaries and bonuses 7,190 8,381 Provision for bonuses 504 316 Welfare expenses 1,402 1,511 Depreciation 2,747 3,406 Commission expenses 1,459 1,654 Other 3,252 3,319 Total selling, general and administrative expenses 21,509 24,424 Operating profit 11,825 12,483 Non-operating income Interest income 7 9 Dividend income 40 55 Rental income from real estate 76 74 Other 83 129 Total non-operating income 207 268 Non-operating expenses Interest expenses 261 487 Rental costs 20 22 Other 35 24 Total non-operating expenses 317 534 Ordinary profit 11,716 12,217 Extraordinary losses Impairment losses 99 - Soil pollution removal cost - 15 Total extraordinary losses 99 15 Profit before income taxes 11,616 12,202 Income taxes - current 3,400 3,527 Income taxes - deferred 231 230 Total income taxes 3,632 3,757 Profit 7,984 8,444 Profit attributable to owners of parent 7,984 8,444
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Semi-annual Consolidated Statement of Comprehensive Income (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Profit 7,984 8,444 Other comprehensive income Valuation difference on available-for-sale securities (17) 681 Revaluation reserve for land 4 - Foreign currency translation adjustment (365) (112) Total other comprehensive income (378) 569 Comprehensive income 7,605 9,014 Comprehensive income attributable to Comprehensive income attributable to owners of parent 7,605 9,014
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Semi-annual Consolidated Statement of Cash Flows (Millions of yen) For the six months ended June 30, 2025 For the six months ended June 30, 2026 Cash flows from operating activities Profit before income taxes 11,616 12,202 Depreciation 2,756 3,420 Impairment losses 99 - Soil pollution removal cost - 15 Increase (decrease) in allowance for doubtful accounts 13 (0) Interest and dividend income (48) (65) Interest expenses 261 487 Decrease (increase) in trade receivables (735) (2,473) Decrease (increase) in inventories (4,610) (6,329) Increase (decrease) in trade payables 1,931 2,255 Increase (decrease) in accrued consumption taxes (1,767) 161 Other, net (619) (1,272) Subtotal 8,899 8,402 Interest and dividends received 44 64 Interest paid (262) (489) Income taxes paid (3,601) (3,363) Soil pollution removal cost payed - (15) Net cash provided by (used in) operating activities 5,080 4,599 Cash flows from investing activities Purchase of property, plant and equipment (9,870) (7,155) Purchase of intangible assets (1,432) (771) Other, net (20) (243) Net cash provided by (used in) investing activities (11,323) (8,169) Cash flows from financing activities Net increase (decrease) in short-term borrowings - 10,000 Proceeds from long-term borrowings 25,000 15,000 Repayments of long-term borrowings (1,500) - Dividends paid (1,847) (1,941) Other, net (0) (1) Net cash provided by (used in) financing activities 21,651 23,057 Effect of exchange rate change on cash and cash equivalents (52) (21) Net increase (decrease) in cash and cash equivalents 15,356 19,465 Cash and cash equivalents at beginning of period 41,135 47,408 Cash and cash equivalents at end of period 56,491 66,873