Interim report
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Note: This document has been translated from a part of 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. October 6, 2026 Consolidated Financial Results for the Six Months Ended August 31, 2026 (Under Japanese GAAP) Company name: SAN-A CO.,LTD. Listing: Tokyo Stock Exchange Securities code: 2659 URL: https://www.san-a.co.jp Representative: Taku Toyoda President, Chief Executive Officer Inquiries: Masato Tamayose General Manager of Management Planning Dept Telephone: +81-98(898)2230 Scheduled date to file semi-annual securities report: October 14, 2026 Scheduled date to commence dividend payments: - 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 August 31, 2026 (from March 1, 2026 to August 31, 2026) (1) Consolidated operating results (cumulative) (Percentages indicate year-on-year changes.) Operating revenue Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % August 31, 2026 129,929 6.3 9,849 13.1 10,219 12.2 6,414 9.2 August 31, 2025 122,216 1.3 8,706 (5.1) 9,106 (3.5) 5,874 (1.0) Note: Comprehensive income For the six months ended August 31, 2026: ¥ 7,072 million [ 9.8 %] For the six months ended August 31, 2025: ¥ 6,440 million [ 1.7 %] Basic earnings per share Diluted earnings per share Six months ended Yen Yen August 31, 2026 105.44 - August 31, 2025 94.99 - (2) Consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % August 31, 2026 197,743 151,693 74.6 February 28, 2026 217,274 160,958 72.0 Reference: Equity As of August 31, 2026: ¥ 147,424 million As of February 28, 2026: ¥ 156,414 million
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2. Cash dividends 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 - 0.00 - 125.00 125.00 February 28, 2026 Fiscal year ending - 0.00 February 28, 2027 Fiscal year ending February 28, 2027 (Forecast) - 110.00 110.00 Note: Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated financial result forecasts for the fiscal year ending February 28, 2027 (from March 1, 2026 to February 28, 2027) (Percentages indicate year-on-year changes.) Operating revenue 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 % Yen Full year 257,270 4.8 17,527 2.7 17,975 1.2 11,025 3.3 178.27 Note: Revisions to the financial result forecast most recently announced: None * Notes (1) Significant changes in the scope of consolidation during the period: None (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 August 31, 2026 63,963,308 shares As of February 28, 2026 63,963,308 shares (ii) Number of treasury shares at the end of the period As of August 31, 2026 4,523,209 shares As of February 28, 2026 2,115,709 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended August 31, 2026 60,832,141 shares Six months ended August 31, 2025 61,841,823 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 (Cautionary note on forward-looking statements) Financial results forecasts and other forward-looking statements provided in this document are based on information currently available to the Company and certain assumptions deemed to be reasonable and do not represent any guarantee that the Company will achieve these results. Actual financial results and other aspects of business performance may differ significantly from these forecasts owing to various factors.
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―1― Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet (Millions of yen) As of February 28, 2026 As of August 31, 2026 Assets Current assets Cash and deposits 79,534 48,640 Accounts receivable - trade 8,023 12,167 Merchandise and finished goods 15,653 15,338 Raw materials and supplies 456 517 Other 3,246 5,043 Total current assets 106,914 81,706 Non-current assets Property, plant and equipment Buildings and structures, net 52,403 50,597 Land 35,835 36,826 Construction in progress 3,316 9,427 Other, net 5,031 5,070 Total property, plant and equipment 96,587 101,922 Intangible assets 751 881 Investments and other assets 13,021 13,234 Total non-current assets 110,360 116,037 Total assets 217,274 197,743 Liabilities Current liabilities Accounts payable - trade 20,877 15,146 Income taxes payable 2,959 3,676 Provision for bonuses 1,654 2,434 Other 23,007 16,867 Total current liabilities 48,499 38,125 Non-current liabilities Retirement benefit liability 2,918 2,931 Asset retirement obligations 1,169 1,181 Other 3,729 3,811 Total non-current liabilities 7,817 7,924 Total liabilities 56,316 46,049 Net assets Shareholders' equity Share capital 3,723 3,723 Capital surplus 3,730 3,738 Retained earnings 152,956 151,639 Treasury shares (4,202) (11,984) Total shareholders' equity 156,207 147,118 Accumulated other comprehensive income Valuation difference on available-for-sale securities 303 392 Remeasurements of defined benefit plans (96) (85) Total accumulated other comprehensive income 206 306 Non-controlling interests 4,543 4,268 Total net assets 160,958 151,693 Total liabilities and net assets 217,274 197,743
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―2― Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Millions of yen) For the six months ended August 31, 2025 For the six months ended August 31, 2026 Net sales 112,260 119,330 Cost of sales 76,908 81,339 Gross profit 35,352 37,991 Operating revenue 9,955 10,598 Operating gross profit 45,308 48,589 Selling, general and administrative expenses Salaries 12,087 12,762 Provision for bonuses 2,080 2,434 Retirement benefit expenses 236 271 Depreciation 3,208 3,580 Other 18,988 19,691 Total selling, general and administrative expenses 36,601 38,740 Operating profit 8,706 9,849 Non-operating income Interest income 62 103 Dividend income 80 86 Gain on adjustment of accounts payable 85 60 Other 193 165 Total non-operating income 421 416 Non-operating expenses Interest expenses 12 13 Commission for purchase of treasury shares - 23 Other 8 9 Total non-operating expenses 21 46 Ordinary profit 9,106 10,219 Extraordinary losses Loss on retirement of non-current assets 59 126 Total extraordinary losses 59 126 Profit before income taxes 9,047 10,092 Income taxes - current 3,004 3,433 Income taxes - deferred (340) (312) Total income taxes 2,663 3,120 Profit 6,383 6,972 Profit attributable to non-controlling interests 508 558 Profit attributable to owners of parent 5,874 6,414
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―3― Semi-annual Consolidated Statement of Comprehensive Income (Millions of yen) For the six months ended August 31, 2025 For the six months ended August 31, 2026 Profit 6,383 6,972 Other comprehensive income Valuation difference on available-for-sale securities 67 89 Remeasurements of defined benefit plans, net of tax (10) 10 Total other comprehensive income 56 100 Comprehensive income 6,440 7,072 Comprehensive income attributable to Comprehensive income attributable to owners of parent 5,931 6,514 Comprehensive income attributable to non-controlling interests 508 558
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―4― Semi-annual Consolidated Statement of Cash Flows (Millions of yen) For the six months ended August 31, 2025 For the six months ended August 31, 2026 Cash flows from operating activities Profit before income taxes 9,047 10,092 Depreciation 3,208 3,580 Loss on retirement of non-current assets 59 126 Increase (decrease) in provision for bonuses 527 780 Increase (decrease) in retirement benefit liability 55 28 Decrease (increase) in trade receivables (3,501) (4,144) Decrease (increase) in inventories (634) 254 Increase (decrease) in trade payables 11,919 (5,730) Increase (decrease) in accounts payable - other 1,792 (3,316) Increase (decrease) in deposits received 3,166 501 Other, net (221) (685) Subtotal 25,417 1,488 Income taxes paid (2,060) (2,725) Net cash provided by (used in) operating activities 23,356 (1,237) Cash flows from investing activities Purchase of property, plant and equipment (2,923) (13,323) Other, net (845) 44 Net cash provided by (used in) investing activities (3,769) (13,278) Cash flows from financing activities Purchase of treasury shares - (7,805) Dividends paid (4,939) (7,719) Dividends paid to non-controlling interests (460) (833) Other, net (19) (19) Net cash provided by (used in) financing activities (5,419) (16,377) Net increase (decrease) in cash and cash equivalents 14,168 (30,894) Cash and cash equivalents at beginning of period 59,843 79,534 Cash and cash equivalents at end of period 74,011 48,640