Results Overview

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Financial Results for the Fiscal Year Ended March 2026

During the current fiscal year, the Japanese economy saw growing concerns about an economic downturn due to continued price increases,including those for food products, heightened uncertainty surrounding U.S. trade policies, and increasing tensions in the Middle East.
However, supported by improvements in the employment and income environment backed by rising wage levels, as well as the wealth effectfrom higher stock prices and solid private-sector capital expenditure, the economy followed a moderate recovery trend, despite a lack of strong momentum.

Under these economic conditions, net sales of the Group increased compared to the previous fiscal year to 209,717 million yen (up 6.6% year on year), mainly due to higher revenues in the resources business, the real estate business, and others.

Regarding profit and loss, operating profit increased significantly compared to the previous fiscal year to 18,826 million yen (up 83.5% year on year), and ordinary profit increased significantly to 20,221 million yen (up 76.8% year on year), driven by higher profits in the resources business,the real estate business, and others.

Profit attributable to owners of parent increased significantly compared to the previous fiscal year to 14,033 million yen (up 55.6% year on year) due to the increase in ordinary profit, despite an increase in tax expenses.

Regarding dividends, based on our shareholder return policy of "implementing stable and long-term dividends while maintaining an optimal balance between enhancing equity capital and returning profits to shareholders," and taking into account its consolidated performance, it aims for a consolidated payout ratio of 40%. In line with its minimum dividend policy of ¥34 per share, we have decided to pay a year-end dividend of ¥48 per share.

Additionally, the Company conducted a 5-for-1 stock split of its common stock, with an effective date of October 1, 2025. The interim dividend of ¥117, which was paid with a record date of September 30, 2025, is equivalent to ¥23.4 when converted to the amount after the said stock split.
Combined with the year-end dividend, the annual dividend per share amounted to ¥71.4 (a consolidated dividend payout ratio of 40.0%).

Outlook for the Future

Looking ahead, the economic environment is expected to remain unpredictable. This is due to persistently high global consumer prices against the backdrop of rising resource and energy prices caused by the situation in the Middle East, coupled with concerns over significant volatility in financial and capital markets and a cooling of domestic demand. Furthermore, structural reforms in the steel industry and efforts by governments and private companies toward realizing a decarbonized society are expected to bring substantial changes to its business environment.

In response to these challenges, the Group will work to strengthen sales, improve productivity, reduce various expenses, enhance its Business Continuity Plan (BCP), and promote sustainability. Through these initiatives, it aims to reinforce and expand its business foundation and improve performance, while contributing to the realization of a sustainable society.

Moreover, it is committed to fulfilling its essential role in the long-term supply of raw materials to key industries. It will strive for sustainable growth and medium- to long-term enhancement of corporate value by promoting mutual prosperity with its stakeholders, including shareholders, business partners, local communities, and employees, while advancing its corporate governance initiatives.

The Group is also proactively engaged in promoting sustainability. With the goal of achieving carbon neutrality by 2050, it is working on improving facility efficiency, introducing energy-saving technologies, reforesting former mine sites, obtaining forest certification for the Group-owned forests, and generating power using renewable energy. It will continue to pursue environmentally responsible business practices.

Additionally, to build a foundation that allows the Group to remain competitive and thrive, it views human resources as capital and aim to fully unlock their potential. It will promote initiatives that contribute to corporate value creation.

The Group sincerely ask for your continued support and cooperation as it moves forward.

June 2026