Financial Highlight / Main Financial Index

Overview of Financial Results
Financial Highlight
Main Financial Index
Financial forecast （full year plan）

Overview of Financial Results

Second Quarter of Fiscal Year Ending April 30, 2026

During the first six months of the current fiscal year (May 1, 2025 to October 31, 2025), the Japanese economy recovered gradually along with an improvement in the employment and income environment. However, conditions remain uncertain due to the risk of downward pressure on the domestic economy from slowing conditions overseas, as well as rising prices, trends in trade policy and fluctuations in financial and capital markets.

Against this backdrop, in March 2025, the AIN HOLDINGS Group (the Group) announced its medium-to-long-term vision, “Ambitious Goals 2034: A decade to promote innovation and strive for our challenging goal of a trillion yen in sales.” To ensure medium-to-long-term corporate growth even in a rapidly changing market environment, we have established business-specific visions and aim to achieve net sales of ¥1 trillion, a net profit margin of 4.0%, and an ROE of 15.0% for the fiscal year ending April 2034.

In its sustainability management, the Group worked to provide healthcare and retail services in line with its mission to “contribute to local healthcare” and “provide beauty and happiness” – two of the Group’s materiality issues. During the first six months of the fiscal year, we conducted healthcare and health awareness activities for local communities, such as cooperating in awareness campaigns for “Japan Heart Day 2025,” co-sponsored by four organizations including the Japan Heart Foundation, and supporting initiatives by the Japan Sports Agency to improve life performance.

In recognition of these and other ongoing initiatives, the Company has been selected as a constituent of the following ESG indices for Japanese equities adopted by the Government Pension Investment Fund (GPIF), the world's largest pension fund: the FTSE Blossom Japan Sector Relative Index, the MSCI Nihonkabu ESG Select Leaders Index, the MSCI Japan Empowering Women Index (WIN), the S&P/JPX Carbon Efficient Index, and the Morningstar Japan ex-REIT Gender Diversity Tilt Index.

Financial Highlight

Net Sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	75,011	81,470	94,654	103,603	132,969
2Q	152,972	171,204	193,727	214,860	299,857
3Q	234,610	263,906	296,360	336,834
4Q	316,247	358,742	399,824	456,804

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	75,011	81,470	94,654	103,603	132,969
2Q	77,961	89,734	99,073	111,257	166,888
3Q	81,638	92,702	102,633	121,974
4Q	81,637	94,836	103,464	119,970

Gross Profit , % of Net Sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	11,060	11,643	13,199	12,931	21,854
2Q	22,838	24,989	27,767	30,097	48,392
3Q	36,500	39,692	43,213	53,268
4Q	49,971	53,698	59,522	74,436
% of Net Sales	15.8%	15.0%	14.9％	16.3%	16.1%

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	11,060	11,643	13,199	12,931	21,854
2Q	11,778	13,346	14,568	17,166	26,538
3Q	13,662	14,703	15,446	23,171
4Q	13,471	14,006	16,309	21,168

SG&A Expenses , % of Net Sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	8,448	8,889	9,588	10,174	17,600
2Q	17,062	18,202	19,017	24,224	37,874
3Q	26,286	28,006	28,907	40,714
4Q	34,832	37,694	39,090	57,565
% of Net Sales	11.0%	10.5%	9.8％	12.6%	12.6%

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	8,448	8,889	9,588	10,174	17,600
2Q	8,614	9,313	9,429	14,050	20,274
3Q	9,224	9,804	9,890	16,490
4Q	8,546	9,688	10,183	16,851

Operating Profit , % of Net Sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	2,611	2,753	3,610	2,757	4,254
2Q	5,776	6,786	8,749	5,872	10,517
3Q	10,214	11,685	14,305	12,554
4Q	15,139	16,004	20,432	16,871
% of Net Sales	4.8%	4.5%	5.1％	3.7%	3.5%

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	2,611	2,753	3,610	2,757	4,254
2Q	3,165	4,033	5,139	3,115	6,263
3Q	4,438	4,899	5,556	6,682
4Q	4,925	4,319	6,127	4,317

Ordinary Profit , % of Net Sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	2,864	3,090	3,881	2,969	4,259
2Q	6,127	7,285	9,338	6,338	9,913
3Q	10,800	12,367	15,050	13,619
4Q	16,041	17,064	21,377	18,080
% of Net Sales	5.1%	4.8%	5.3％	4.0%	3.3%

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	2,864	3,090	3,881	2,969	4,259
2Q	3,263	4,195	5,457	3,369	5,654
3Q	4,673	5,082	5,712	7,281
4Q	5,241	4,697	6,327	4,461

Profit Attributable to Owners of Parent , % of net sales

（million yen）

Total
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	1,309	1,704	2,140	1,642	1,930
2Q	3,338	3,805	5,257	3,212	4,494
3Q	6,231	6,628	8,730	7,357
4Q	7,092	9,234	11,401	9,261
% of Net Sales	2.2%	2.6%	2.9%	2.0%	1.5%

（million yen）

Quarterly results
	FY4/22	FY4/23	FY4/24	FY4/25	FY4/26
1Q	1,309	1,704	2,140	1,642	1,930
2Q	2,029	2,101	3,117	1,570	2,564
3Q	2,893	2,823	3,473	4,145
4Q	861	2,606	2,671	1,904

Main Financial Index

	FY4/21	FY4/22	FY4/23	FY4/24	FY4/25
Net income per share(¥)	189.04	201.47	262.87	324.64	264.32
Net assets per share(¥)	3,267.49	3,385.51	3,599.47	3,866.55	4,063.53
Shareholder’s equity ratio	56.8%	56.0%	54.6%	54.3%	45.7％
Return on shareholder’s equity	5.9%	6.0%	7.5%	8.7%	6.7%
Dividends per share(¥)	55	55	60	80	80
Dividends payout ratio	29.1%	27.3%	22.8%	24.6%	30.3%

Financial forecast （full year plan）

Please refer to the following page for our financial forecast .

Financial forecast （full year plan）