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ORGANO CORPORATION Financial Results for First Half of Fiscal Year Ending March 31, 2026 Securities Code: 6368 1 November 4, 2025
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Contents 1. First-Half Results for Fiscal Year Ending March 2026 2. Full-Year Forecast for Fiscal Year Ending March 2026 3. Company Overview and Business Profile * Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point. 2
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Contents 1. First-Half Results for Fiscal Year Ending March 2026 2. Full-Year Forecast for Fiscal Year Ending March 2026 3. Company Overview and Business Profile * Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point. 3
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11.4 17.3 11.5-1.0 0.2 4.3 3.9 2.6 1.6 前期実績 当期実績 期初計画 売上拡大 利益率改善 販管費増 09/2024 Actual 09/2025 Actual 74.3 82.7 77.5-0.6 -0.4 0.28.1 4.5 1.0 1.1 前期実績 当期実績 期初計画09/2024 Actual Sales Analysis 92.7 88.5 100.2 96.9 97.0 -2.5 -0.8 -1.7 -0.111.3 4.2 0.3 前期実績 当期実績 期初計画 電子産業 一般産業 電力・上下水 機能商品 09/2024 Actual First-Half Results for FY Ending 03/2026: Overview of Orders, Sales, and Operating Profit (Billions of yen) [Orders] Year on year, large-scale orders for semiconductor- related projects overseas, such as in the United States and Europe, expanded, and Service Solutions also grew. Compared to the plan, although orders for projects in China in the Electronics Industry were delayed beyond expectations, this was offset by projects in Taiwan. Order Analysis Operating Profit Analysis [Operating Profit] Year on year, in addition to the effect of sales growth, the profit margin of Plant projects improved, mainly in the Electronics Industry. This offset the increase in SG&A expenses such as personnel expenses. Compared to the plan, the profit margin for overseas large-scale Plant projects improved more than expected. +8.4 billion YoY +5.2 billion vs. Plan 4 [Sales] Year on year, construction on Plant projects in Japan and Taiwan in the Electronics Industry progressed well, and Service Solutions across all areas were also strong. Compared to the plan, overseas Plant projects in the Electronics Industry grew. Performance Products fell slightly short of the plan, partly due to the impact of streamlining low-profit transactions in Food Products. +5.9 billion YoY +5.8 billion vs. Plan +3.2 billion vs. Plan +7.5 billion YoY 09/2025 Actual ■General Industry ■Electronics Industry ■Electric Power/Water Supply and Sewage ■Performance Products ■General Industry ■Electronics Industry ■Electric Power/Water Supply and Sewage ■Performance Products Initial Plan Increase in SG&A Improvement in Profit Margin Expansion of Sales Initial Plan 09/2025 Actual Initial Plan
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1st Half Plan Previous Forecast (Aug 4,2025) 1st Half Actual 7,526 3,281 -1,219 8.1% 3.4% -1.2% 8,470 5,293 793 11.4% 6.8% 1.0% 6,982 5,625 2,325 30.2% 23.0% 8.4% % 31.1% 31.6% 33.9% 36.4% 5.3pt 4.8pt 2.5pt 1,084 -253 -253 9.3% -1.9% -1.9% 5,898 5,878 2,578 51.4% 51.1% 17.4% % 15.4% 14.8% 18.0% 21.0% 5.6pt 6.2pt 3.0pt 3,394 4,028 1,828 41.7% 53.7% 18.8%7,500 FY Ending 03/2026 Year-on-Year Vs. Initial Plan Vs. Previous Forecast 11,500 Profit Attributable to Owners of Parent 8,134 9,700 11,528 (Millions of yen) FY Ended 03/2025 1st Half Actual 97,000 77,500 24,500 13,000 13,000 12,747 Operating Profit 11,480 14,800 17,378 Gross Profit 23,143 27,800 30,125 SG&A 11,663 Orders Received 92,755 101,500 100,281 Net Sales 74,323 82,000 82,793 First-Half Results for FY Ending 03/2026: Consolidated Statement of Income 5
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First-Half Results for FY Ending 03/2026: Results by Segment 6 (Millions of yen) FY Ended 03/2025 1st Half Actual FY Ending 03/2026 Year-on-Year Vs. Initial Plan Vs. Previous Forecast1st Half Plan Previous Forecast (Aug 4, 2025) 1st Half Actual Company Orders Received 92,755 97,000 101,500 100,281 7,526 8.1% 3,281 3.4% -1,219 -1.2% Net Sales 74,323 77,500 82,000 82,793 8,470 11.4% 5,293 6.8% 793 1.0% Operating Profit 11,480 11,500 14,800 17,378 5,898 51.4% 5,878 51.1% 2,578 17.4% (%) 15.4% 14.8% 18.0% 21.0% 5.6pt 6.2pt 3.0pt Water Treatment Engineering Orders Received 80,166 84,100 88,600 87,294 7,128 8.9% 3,194 3.8% -1,306 -1.5% Net Sales 61,885 64,600 69,100 70,549 8,664 14.0% 5,949 9.2% 1,449 2.1% Operating Profit 9,802 9,550 12,850 15,771 5,969 60.9% 6,221 65.1% 2,921 22.7% (%) 15.8% 14.8% 18.6% 22.4% 6.6pt 7.6pt 3.8pt Performance Products Orders Received 12,589 12,900 12,900 12,987 398 3.2% 87 0.7% 87 0.7% Net Sales 12,437 12,900 12,900 12,243 -194 -1.6% -657 -5.1% -657 -5.1% Operating Profit 1,677 1,950 1,950 1,607 -70 -4.2% -343 -17.6% -343 -17.6% (%) 13.5% 15.1% 15.1% 13.1% -0.4pt -2.0pt -2.0pt
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First-Half Results for FY Ending 03/2026: Orders Received and Net Sales by Region Orders Received and Net Sales by Region ■ Orders received increased year on year in the United States and Europe, and compared to the plan overseas in countries such as Taiwan. Domestically, there was a slight decrease year on year, but progress is slightly better compared to the plan. ■ Net sales received contribution from growth overseas, including strong progress in construction for large-scale projects both year on year and versus the plan. Domestically, Service Solutions performed strongly. Orders Received and Net Sales by Overseas Region (Millions of yen) 7 Orders Received Net Sales Orders Received Net Sales ■ Orders received grew significantly with large-scale investment in cutting-edge semiconductors in Taiwan and the United States and large-scale semiconductor projects in Europe. ■ Net sales grew year on year and versus the plan mainly due to sales of Plant projects for which orders were received in Taiwan. Net sales decreased in China due to order timing being delayed beyond initial expectations. 55,411 55,194 54,000 37,344 45,086 43,000 92,755 100,281 97,000 40.3% 45.0% 44.3% 09/2024 Actual 09/2025 Actual 09/2025 Plan Overseas Domestic Overseas Ratio 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual 44,213 51,861 53,000 30,110 30,930 24,500 74,323 82,793 77,500 40.5% 37.4% 31.6% 09/2024 Actual 09/2025 Actual 09/2025 Plan Overseas Domestic Overseas Ratio 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual 26,877 20,307 15,500 7,878 2,687 6,500 2,589 22,092 21,000 37,344 45,086 43,000 09/2024 Actual 09/2025 Actual 09/2025 Plan SE Asia/US/EU China Taiwan 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual 13,285 22,257 17,500 9,322 3,541 4,000 7,502 5,132 3,000 30,110 30,930 24,500 09/2024 Actual 09/2025 Actual 09/2025 Plan SE Asia/US/EU China Taiwan 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual
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4,634 4,739 5,100 4,710 4,908 5,200 3,094 2,596 2,600 12,437 12,243 12,900 24.9実績 25.9実績 25.9計画 Food Products Standard Equipment and Functional Materials Chemicals 31,622 37,782 33,600 30,263 32,767 31,000 61,885 70,549 64,600 48.9% 46.4% 48.0% 24.9実績 25.9実績 25.9計画 Service Solutions Plant Service Solutions Ratio First-Half Results for FY Ending 03/2026: Sales by Business Segment and Department Water Treatment Engineering Unit: Sales by Department ■ Plant projects saw increased order received both in Japan and overseas, supported by strong orders received, while construction progressed smoothly and high sales levels were maintained. ■ In Service Solutions, factors contributing to sales included growth of facility- owned services and increases in maintenance and projects for modifications due to increased deliveries. Performance Products Business Unit: Sales by Department (Millions of yen) ■ All areas, including Water Treatment Chemicals, Filters, and Functional Materials, performed well. Small-scale pure and ultrapure water production systems grew in the Equipment. In Food Products, sales decreased due to the impact of streamlining low-profit transactions. 8 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual 09/2024 Actual 09/2025 Plan (Initial) 09/2025 Actual
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44,395 52,533 48,000 14,248 13,762 12,600 3,243 4,254 4,000 61,885 70,549 64,600 09/2024 Actual 09/2025 Actual 09/2025 Plan Electric Power/Water Supply and Sewage General Industry Electronics Industry 55,448 66,833 62,600 17,337 14,806 15,000 7,382 5,655 6,500 80,166 87,294 84,100 09/2024 Actual 09/2025 Actual 09/2025 Plan Electric Power/Water Supply and Sewage General Industry Electronics Industry First-Half Results for FY Ending 03/2026: Orders and Sales by Market (Water Treatment Engineering Unit) Orders by Market (Water Treatment Engineering Unit) ■ The Electronics Industry expanded due to large-scale project orders in the United States and Taiwan. Domestically, Service Solutions such as facility- owned service contracts grew. ■ While General Industry orders received decreased due to the reactionary decline from large-scale project orders in the previous fiscal year, Service Solutions performed well. Sales by Market (Water Treatment Engineering Unit) (Millions of yen) ■ The Electronics Industry saw progress on Plant projects both in Japan and overseas. Deliveries grew in Japan and overseas, and Service Solutions also grew. ■ In General Industry, areas associated with pharmaceuticals and electronics led the way, while in Electric Power/Water Supply and Sewage, solutions targeting nuclear power plants and others continued to show solid performance. 9 09/2025 Plan (Initial) 09/2025 Plan (Initial)
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Contents 1. First-Half Results for Fiscal Year Ending March 2026 2. Full-Year Forecast for Fiscal Year Ending March 2026 3. Company Overview and Business Profile 10 * Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point.
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31.1 36.0 31.5-2.9 3.8 4.5 3.9 前期実績 通期見込 期初計画 売上拡大 利益率改善 販管費増 163.2 175.0 175.0 1.9 9.5 0.6 前期実績 通期見込 期初計画 電子産業 一般産業 機能商品 151.2 185.0 180.0 33.2 5.00.8 前期実績 通期見込 期初計画 電子産業 機能商品 Sales Analysis Full-Year Forecast: Overview of Orders, Sales, and Operating Profit (Billions of yen) [Sales] Year on year, we expect sales to grow in Electronics Industry, mainly overseas. General Industry is also expected to contribute to sales growth through large-scale projects ordered in the previous year, and Electric Power/Water Supply and Sewage and Performance Products are expected to perform well. [Orders] In Electronics Industry, orders are expected to continue to grow year on year for large-scale projects overseas, such as in Taiwan, the United States and Europe. Service Solutions remains to perform stronger than expected compared to the plan. General Industry, Electric Power/Water Supply and Sewage, and Performance Products remain strong. Order Analysis Operating Profit Analysis [Operating Profit] Year on year, we anticipate the effect of the expansion of sales in the Electronics Industry and improvement of profit margin in Plant projects. Compared to the plan, this reflects that the profit margin of Plant projects overseas has improved more than expected. We expect to keep SG&A expenses at the initial plan’s level. +33.8 billion YoY +5.0 billion vs. Plan +11.8 billion YoY ±0 billion vs. Plan +4.9 billion YoY +4.5 billion vs. Plan 11 03/2025 Actual 03/2026 Forecast Initial Plan 03/2025 Actual 03/2026 Forecast Initial Plan 03/2025 Actual 03/2026 Forecast Initial Plan ■Electronics Industry ■Performance Products ■General Industry ■Electronics Industry ■Performance Products Increase in SG&A Improvement in Profit Margin Expansion of Sales
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Initial Plan Previous Forecast (Aug 4,2025) Current Forecast 33,728 5,000 5,000 22.3% 2.8% 2.8% 11,731 - - 7.2% - - 7,818 4,500 2,000 14.2% 7.7% 3.3% % 33.8% 33.4% 34.9% 36.0% 2.2pt 2.6pt 1.1pt 2,939 - - 12.2% - - 4,880 4,500 2,000 15.7% 14.3% 5.9% % 19.1% 18.0% 19.4% 20.6% 1.5pt 2.6pt 1.2pt 2,850 2,800 900 11.8% 11.6% 3.4% ROE (%) 21.7% 18.8% ー 20.7% -1.0pt 1.9pt - 24,200 FY Ending 03/2026 Year-on-Year Vs. Initial Plan Vs. Previous Forecast 31,500 Profit Attributable to Owners of Parent 24,150 26,100 27,000 (Millions of yen) FY Ended 03/2025 Full-year Actual 180,000 175,000 58,500 27,000 27,000 27,000 Operating Profit 31,120 34,000 36,000 Gross Profit 55,182 61,000 63,000 SG&A 24,061 Orders Received 151,272 180,000 185,000 Net Sales 163,269 175,000 175,000 Full-Year Forecast: Consolidated Statement of Income 12
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(Millions of yen) FY Ended 03/2025 Full-year Actual FY Ending 03/2026 Year-on-Year Vs. Initial Plan Vs. Previous ForecastInitial Plan Previous Forecast (Aug 4, 2025) Current Forecast Company Orders Received 151,272 180,000 180,000 185,000 33,728 22.3% 5,000 2.8% 5,000 2.8% Net Sales 163,269 175,000 175,000 175,000 11,731 7.2% - - - - Operating Profit 31,120 31,500 34,000 36,000 4,880 15.7% 4,500 14.3% 2,000 5.9% (%) 19.1% 18.0% 19.4% 20.6% 1.5pt 2.6pt 1.2pt Water Treatment Engineering Orders Received 126,327 154,200 154,200 159,200 32,873 26.0% 5,000 3.2% 5,000 3.2% Net Sales 138,130 149,200 149,200 149,200 11,070 8.0% - - - - Operating Profit 27,382 27,630 30,130 32,130 4,748 17.3% 4,500 16.3% 2,000 6.6% (%) 19.8% 18.5% 20.2% 21.5% 1.7pt 3.0pt 1.3pt Performance Products Orders Received 24,944 25,800 25,800 25,800 856 3.4% - - - - Net Sales 25,139 25,800 25,800 25,800 661 2.6% - - - - Operating Profit 3,738 3,870 3,870 3,870 132 3.5% - - - - (%) 14.9% 15.0% 15.0% 15.0% 0.1pt - - Full-Year Forecast: Results by Segment 13
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103.8 104.9 94.5 135.6 173.4 144.4 151.2 185.0 92.2 96.5 100.6 112.0 132.4 150.3 163.2 175.0 59.3 67.8 61.8 86.4 117.6 115.6 105.7 115.7 6.5 9.9 9.5 10.8 15.2 22.5 31.1 36.0 19.3 20.3 21.3 22.3 23.3 24.3 25.3 26.3 受注高 売上高 受注残高 営業利益 33.5 42.5 32.7 35.5 52.7 40.0 25.2 33.3 59.5 40.6 29.6 35.8 40.7 44.1 31.6 42.7 41.3 47.5 38.1 44.6 2.8 4.9 6.3 8.3 4.0 7.4 8.2 11.3 6.9 10.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Full-Year Forecast: Trends in Results and Forecasts (Quarterly, Annual) 03/2026 Trends in Quarterly Results Trends in Annual Results (Billions of yen) 03/202503/2024 [Trends in quarterly results] The orders received are affected by the order timing of large projects. Sales are recorded according to the progress in construction, however, there are many projects with deadlines at the end of the fiscal year, and sales tend to gradually increase moving towards the end of March. Operating profit is affected by factors including the status of negotiations concerning additional payments resulting from correction of predicted costs, specification changes, and additional work in a project, however, operating profit tends to increase moving towards the end of the fiscal year. [Trends in annual results] Semiconductor investment continues to be strong in Taiwan and China and it is becoming highly active in Europe and North America as well. Also the amount of money invested per project is expanding. This caused the order backlog to remain at a high level. In addition to this favorable order environment, we are setting higher prices for orders to reflect the increases in raw materials and construction costs. This, and our growth in sales of service solutions and Performance Products due to deliveries to new Plant projects, is contributing to profitability improvements. 14 (Forecast) Orders Received Net Sales Order Backlog Operating Profit 03/2019 03/2020 03/2021 03/2022 03/2023 03/2024 03/2025 03/2026 122.7 132.8 125.2 115.6 139.2 137.6 116.4 105.7 122.7 124.0 Orders Received Net Sales Order Backlog Operating Profit
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18,555 27,854 34,000 43,000 19,996 20,543 16,000 7,00015,260 14,645 16,000 16,00053,811 63,043 66,000 66,000 03/2024 03/2025 03/2026 03/2026 SE Asia/US/EU China Taiwan 15,589 43,378 37,000 42,0008,176 9,319 13,000 5,000 10,748 6,885 25,000 28,000 34,513 59,582 75,000 75,000 03/2024 03/2025 03/2026 03/2026 SE Asia/US/EU China Taiwan 96,544 100,225 109,000 109,000 53,811 63,043 66,000 66,000 150,356 163,269 175,000 175,000 35.8% 38.6% 37.7% 37.7% 03/2024 03/2025 03/2026 03/2026 Overseas Domestic Overseas Ratio 109,955 91,688 105,000 110,000 34,513 59,582 75,000 75,000 144,468 151,272 180,000 185,000 23.9% 39.4% 41.7% 40.5% 03/2024 03/2025 03/2026 03/2026 Overseas Domestic Overseas Ratio Full-Year Forecast: Orders Received and Net Sales by Region Orders Received and Net Sales by Region ■ We expect orders received to expand, boosted by large-scale project orders overseas such as in Taiwan, Europe and the United States. Domestically, large-scale project orders are scheduled in the second half, and orders for Service Solutions and Performance Products are also expected to be firm. ■ We expect net sales to grow at the initial plan’s level, mainly due to an increase in sales in the Plant Division due to orders for large-scale projects and expansion of Service Solutions and Performance Products. Orders Received and Net Sales by Overseas Region (Millions of yen) ■ For orders received, we expect project orders to exceed the initial plan in Taiwan and the United States. Orders in China are expected to decline due to the impact of delays in the investment plan. ■ Net sales are expected to grow in Taiwan compared to the initial plan, underpinned by strong orders. In China, delayed project orders will also impact sales. 15 Orders Received Net Sales ForecastPlan (Initial) Orders Received Net Sales ForecastPlan (Initial) ForecastPlan (Initial) ForecastPlan (Initial)
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8,589 9,170 10,200 10,200 9,116 10,001 10,400 10,400 6,257 5,967 5,200 5,200 23,962 25,139 25,800 25,800 03/2024 03/2025 03/2026 03/2026 Food Products Standard Equipment and Functional Materials Chemicals 68,749 69,199 76,200 71,200 57,644 68,931 73,000 78,000126,393 138,130 149,200 149,200 45.6% 49.9% 48.9% 52.3% 03/2024 03/2025 03/2026 03/2026 Service Solutions Plant Service Solutions Ratio Full-Year Forecast: Sales by Business Segment and Department Water Treatment Engineering Unit: Sales by Department ■ Although Plant projects are expected to expand compared year on year, centered on large-scale overseas semiconductor projects, due to impacts such as delayed orders in China, a decrease is anticipated compared to the plan. ■ In Service Solutions, sales growth is expected for facility-owned services, and sales are expected to expand for maintenance and modification projects, supported by delivered facilities. Performance Products Business Unit: Sales by Department (Millions of yen) ■ Sales of water treatment chemicals such as those for Electronics Industry, functional materials used in advanced separation and refinement of electronics materials, and small-scale pure water systems are expected to grow. In Food Products, while sales are expected to decrease due to streamlining low-profit transactions, this will contribute to improved profitability. 16 ForecastPlan (Initial) ForecastPlan (Initial)
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88,292 96,652 106,200 106,200 27,469 30,083 32,000 32,00010,633 11,396 11,000 11,000126,394 138,130 149,200 149,200 03/2024 03/2025 03/2026 03/2026 Electric Power/Water Supply and Sewage General Industry Electronics Industry 78,246 82,736 111,000 116,000 30,986 32,534 32,000 32,000 11,188 11,056 11,200 11,200 120,420 126,327 154,200 159,200 03/2024 03/2025 03/2026 03/2026 Electric Power/Water Supply and Sewage General Industry Electronics Industry Full-Year Forecast: Orders and Sales by Market (Water Treatment Engineering Unit) Orders by Market (Water Treatment Engineering Unit) ■ In Electronics Industry, we expect to receive orders for large-scale semiconductor projects overseas, such as in Taiwan, the United States, and Europe, and Service Solutions also are expected to perform strongly. ■ General Industry is expected to be firm, mainly in areas associated with pharmaceuticals and electronics. In Electric Power/Water Supply and Sewage, maintenance related to nuclear power is performing well. Sales by Market (Water Treatment Engineering Unit) (Millions of yen) ■ In Electronics Industry, although affected by delayed project orders in China, this is expected to be offset with increased orders in other regions and strong Service Solutions. ■ For General Industry and Electric Power/Water Supply and Sewage, we anticipate progress in line with the initial plan, centered on Service Solutions. 17 ForecastPlan (Initial) ForecastPlan (Initial)
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39,620 38,564 44,200 44,200 48,672 58,088 62,000 62,000 88,292 96,652 106,200 106,200 58.7% 59.2% 60.7% 60.7% 03/2024 03/2025 03/2026 03/2026 Overseas Domestic Ratio of electronics (to consolidated net sales) 48,819 29,376 41,000 46,000 29,427 53,360 70,000 70,000 78,246 82,736 111,000 116,000 54.2% 54.7% 61.7% 62.7% 03/2024 03/2025 03/2026 03/2026 Overseas Domestic Ratio of electronics (to consolidated orders received) Full-Year Forecast: Orders and Sales for the Electronics Industry Electronics Industry: Orders by Region ■ Overseas, although affected by delayed orders in China, large-scale semiconductor projects in Europe and the United States, and Taiwan are performing well. ■ In Japan, in addition to Service Solutions progressing smoothly, there are plans to receive large-scale semiconductor project orders in the second half. Electronics Industry: Sales by Region (Millions of yen) ■ Overseas, although delayed project orders in China weighed on performance, construction of ordered projects in Taiwan, Europe and the United States is progressing smoothly, and we anticipate progress in line with the initial plan. ■ In Japan, in addition to the progress of Plant project construction, Service Solutions are also performing well, and we expect to achieve the initial plan. 18 ForecastPlan (Initial) ForecastPlan (Initial)
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14.5 9.8 10.9 27.2 30.2 35.1 40.9 61.9 03/2023 03/2024 03/2025 03/2026 単年度投資額 リース投資資産及び関連仕掛高の残高 13.5 32.0 31.0 -11.2 -13.1 -30.0 -0.6 -20.8 -1.0 28.8 38.4 44.3 24.3 25.3 26.3(見込) 03/2024 Full-Year Forecast: Trends in Cash Flows 03/2025 Reclassification of ¥10.9 billion invested 03/2026 Reclassification of the planned investment of ¥27.2 billion Trends in Cash Flows (after reclassification) ■ On top of trends in business performance, our cash flow is significantly impacted by progress on the construction of large-scale projects and the collection of payments for them. ■ In the FY ending 03/2026, we are achieving improvements in Cash Flows from Operating Activities from the collection of payments for projects that were recorded as sales in the period up until the end of the FY ended 03/2025. Investments in facility-owned projects are also expanding. Trends in Investment in Facility-owned Services (Billions of yen) ■ Sales of facility-owned services grew steadily. When investing, profitability was evaluated using ROIC, IRR, etc. A certain level of profitability was achieved. ■ Investments in facility-owned projects are recorded in Investments in leases (work in progress during construction) and depreciated over the contract period. Amounts of investment are included in current assets, so the statement of cash flow indicates the investment as Cash Flow from Operating Activities. In the graph on the left, investment in facility-owned services has been reclassified as Cash Flows from Investing Activities. 03/2024 Reclassification of investment of ¥9.8 billion in facility-owned projects from Cash Flow from Operating Activities to Cash Flow from Investing Activities 19 Single year investment Balance of investment in leases and related work in progress Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities EBITDA (Operating profit + Depreciation) 03/2025 03/2026 (Forecast) (Forecast) 6.6 9.6 13.1 17.0 03/2023 03/2024 03/2025 03/2026 Sales of Facitily-owned Services (Forecast)
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Full-Year Forecast: Key Indicators (Millions of yen) FY Ended 03/2025 FY Ending 03/2026 Full-year Actual Initial Plan Forecast Capital Expenditures 2,803 3,500 3,500 R&D Expenses 3,253 3,600 3,600 Depreciation 1,925 2,000 2,000 Interest-bearing Debt 22,557 35,000 30,000 No. of Employees 2,660 2,860 2,860 20 * Capital expenditures and depreciation do not include investments and depreciation associated with facility-owned services.
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28.5 40 62 102 160 170 190 03/2021 03/2022 03/2023 03/2024 03/2025 03/2026 03/2026 Dividend per share Figures in ( ) indicate consolidated dividend payout ratio Dividend Trends ■ The dividend forecast for FY03/2026 has been revised upward due to the improvement in the full-year earnings forecast. The annual dividend forecast has been increased to ¥190 per share, maintaining the originally planned payout ratio. ■ Targeting the continuation of a dividend payout ratio of 30% or more and continued dividend increases, we aim to balance and expand both shareholder return and growth investment. (Yen) (19.9%) (24.2%)(18.5%) (32.3%) * Dividends are listed on a post-share split basis, which went into effect as of October 1, 2022. (30.5%) (27.1%) 21 (32.4%) (Forecast)(Initial Plan)
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Topics Launch of ORCHASER V Index Inclusion 22 JPX Prime 150 Index Selected for the first time as a constituent of the JPX Prime 150 Index in August 2025. Selected based on its position as a company representing Japan where value creation is anticipated, evaluated from both the perspectives of capital profitability and market valuation. JPX-Nikkei Index 400 Selected for the third consecutive year as a constituent of the JPX-Nikkei Index 400 in August 2025. Expected as a company highly attractive to investors that meets the requirements demanded by global investment standards In addition, adoption is progressing into indices that emphasize ESG evaluations, carbon-related environmental indicators, information disclosure, etc. In addition to office buildings and commercial facilities, we will pursue deployment in expanding areas such as semiconductor factories and data centers. Sales of the automatic control device for chemical concentration used in cooling water systems, ORCHASER V, started from June 2025. It achieves a reduction in environmental impact and cost savings on chemicals and maintenance by optimizing chemical concentration. Organo’s Water Treatment Chemicals Business Development In addition to deploying chemicals used in delivered water treatment plants, such as wastewater treatment agents and RO membrane treatment agents, we provide energy-saving solutions such as chemicals with high bactericidal effects for cooling water treatment in office buildings, commercial facilities, data centers, various factories, and reduction in energy usage through automatic control and remote monitoring technologies.
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Contents 1. First-Half Results for Fiscal Year Ending March 2026 2. Full-Year Forecast for Fiscal Year Ending March 2026 3. Company Overview and Business Profile * Figures in these materials are rounded down to the nearest unit of indication. Percentages, year-on-year comparisons, comparisons with the plan, and other presentations are calculated using the units of indication. Percentages are rounded to one digit past the decimal point. 23
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Company Overview: Management Philosophy and Vision Organo serves as a valuable partner company by leveraging its leading-edge technologies cultivated through long experience with water treatment, by contributing to the industries that create the future, and by playing a key role in the development of societal infrastructure. ■ Management Philosophy Representative Director and President At Organo, we seek to expand our business through high value-added separation and refinement as well as analysis and manufacturing technologies, and by providing products and services that promote the creation of value and which resolve the challenges that confront industry and society. We proactively contribute to a better tomorrow by cultivating people today who will improve upon the way things were done yesterday, as a company where all employees are energetic and passionate about their work. ■ Long-term Management Vision ■ Sustainability Policy Together with its stakeholders, Organo aims to realize a sustainable society for the future and improve our corporate value. E Leveraging its leading-edge technologies cultivated through long experience with water treatment*, Organo provides environmentally-friendly products and services that contribute to water environment conservation and prevention of global warming. * Leveraging its leading-edge technologies cultivated through long experience with water treatment refers to our pursuit of water treatment-related separation and refinement, analysis, and engineering technologies, and our provision of optimal systems and services that meet the needs of society through a combination of these technologies. S We will respect human rights, diverse values, and individuality while promoting the creation of a workplace where each and every employee can grow and flourish. G We will carry out our corporate activities with integrity and fairness, emphasizing dialogue and cooperation with all stakeholders. 24
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Company Overview: Organo’s History (Changes in Sales) 1960 1970 1980 1990 2000 2010 Founded 1946 | Athermal water distillation equipment 1960’s~ | Large-scale pure water equipment for general industry 1970’s~ | Water supply and sewage facilities | Refining facilities for sugar solutions, other 2000’s~ | Overseas development | Strengthening of Service Solutions 1990’s~ | Ultrapure water facilities for the electronics industry 1980’s~ | Water treatment facilities for power plants Expansion EvolutionGrowthDevelopment ● Historical sales 2024 ■ Established a U.S. subsidiary (2021) 2010’s~ | Semiconductor market expansion Taiwan/China markets growth 2020 ■ Established a Malaysia subsidiary (1986) ■ Established a Taiwan subsidiary (2005) ■ Established a China subsidiary (2003) Entered the Taiwan market (1990’s~) ■ Established a Vietnam subsidiary (2010) 25
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24.9 38.9 49.6 53.8 63.0 100.6 112.0 132.4 150.3 163.2 03/2021 03/2022 03/2023 03/2024 03/2025 Net Sales 47.6 58.2 73.8 88.2 96.6 Electronics 43.3 45.6 50.0 57.6 68.9 Service Solutions Company Overview: Recent Performance Growth ｜Expansion of overseas markets such as Taiwan and China By region, the Taiwan and China markets have grown significantly. Investment is growing across various semiconductor areas, including foundries and memory. ｜Expansion in the Service Solution There has been steady growth in maintenance and an increase in facility-owned projects. ｜Growth in the Electronics Industry Our performance has improved against the backdrop of the growth of the semiconductor market since 2018. Continued growth centered on the Electronics Industry in Japan and overseas is expected. （Billions of yen） Performance Trends (Sales) Background of recent performance improvement 26 Overseas
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Consolidated net sales ¥163.2 billion (FY Ended 03/2025) ¥138.1 billion (84.6%) Performance Products Business UnitWater Treatment Engineering Business Unit ¥25.1 billion (15.4%) Pure and ultrapure water facilities Wastewater treatment and recovery facilities Valuable material recovery facilities Production processing- related facilities | Plant Division Facilities maintenance Operational support services and comprehensive maintenance Facility enhancements, renovation, and reconditioning Contract water treatment | Service Solutions Division Treatment chemicals for wastewater, cooling water, cleaning and RO membranes, boiler waters, etc. | Water Treatment Chemicals Division Food processing agents Food ingredients | Food Products Division [Service Solutions] ¥68.9 billion (50%) ¥69.1 billion (50%) [Plant] [Electronics Industry] [General Industry] [Electric Power/Water Supply and Sewage] ¥96.6 billion (70%) ¥30.0 billion (22%) ¥11.3 billion (8%) | Sales by Market | Sales by Segment [Water Treatment Chemicals] [Equipment and Functional Materials] [Food Products] ¥9.1 billion (36%) ¥10.0 billion (40%) ¥5.9 billion (24%) | Sales by Segment * Amounts represent sales for FY ended 03/2025, percentages represent share of total sales. Pure and ultrapure water production systems Filters Functional materials (separation and refinement materials) | Standard Equipment and Functional Materials Division Company Overview: The Organo Group’s Business Structure 27
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Shareholder Composition Company Overview: Major Shareholders and Shareholder Composition (As of September 30, 2025) Domestic corporations 45.5% Foreign corporations, etc. 26.9% Financial institutions 16.4% Individuals 9.5% Other 1.7% • Total number of authorized shares: 101,568 thousand shares • Total number of issued shares: 46,359 thousand shares (including treasury shares of 339 thousand shares) • Number of shareholders: 9,670 shareholders Name of Shareholder Number of Shares Held (Thousands of shares) Holding Ratio (%) Tosoh Corporation 20,379 44.28 The Master Trust Bank of Japan, Ltd. (Trust Account) 4,525 9.83 Custody Bank of Japan, Ltd. (Trust Account) 1,534 3.33 KBC BANK NV – UCITS CLIENTS NON TREATY 1,152 2.50 THE BANK OF NEW YORK MELLON 140044 686 1.49 STATE STREET BANK AND TRUST COMPANY 505001 581 1.26 Mizuho Bank, Ltd. 464 1.01 STATE STREET BANK AND TRUST COMPANY 505103 440 0.96 STATE STREET BANK WEST CLIENT – TREATY 505234 370 0.80 JP MORGAN CHASE BANK 385781 368 0.80 * The treasury shares (339 thousand shares) are excluded in the calculation of the holding ratio shown above. ● Relationship with parent company We have maintained a relationship with our parent company Tosoh Corporation since accepting capital participation in 1955. The business relationship between Organo and Tosoh includes the purchase of some raw materials and sale of water treatment facilities, chemicals, and other products. However the level of dependence is negligible, and clear segregation is maintained in terms of the products sold by both companies and their business partners. Therefore Organo recognizes that as a listed company, it has secured a certain degree of management independence in its business activities and management decisions. In addition, in order to monitor and supervise issues regarding conflicts of interest between the parent company group and minority shareholders, Organo has established a Special Committee composed only of Independent Outside Directors. Since the 78th Ordinary General Meeting of Shareholders held in June 2023, Independent Outside Directors have also composed a majority of the Board of Directors. Major Shareholders (top ten) Composition of shareholders 09/30/2025 28
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Company Overview: Organo’s Water Treatment Technologies that Support Industry and Daily Life Thermal and nuclear power plants Water for power generation turbines, various water treatment systems Buildings and commercial facilities Cooling water treatment chemicals, etc. Convenience stores/restaurants Coffee machine and vending machine filters Medical and research institutions Analysis pure and ultrapure water systems Electronics Industry Cleaning water and water treatment closed systems Water purification plants Water supply systemPharmaceuticals/ cosmetics Manufacturing water and water treatment systems Social InfrastructureGeneral IndustryElectronics Industry Water Treatment Engineering Unit Semiconductors, panels, electronic parts, etc. Pharmaceuticals and cosmetics, foods and beverages, mechanical and chemical uses, etc. Thermal and nuclear power plants, water supply and sewage Food ProductsStandard Equipment and Filters Water Treatment Chemicals Performance Products Business Unit Various manufacturing industries, buildings and commercial facilities Medical and research institutions, convenience stores/restaurants Food/beverages, nursing care, food/health food Foods/beverages Manufacturing water and water treatment systems Chemicals/machinery Cleaning/boiler water and water treatment systems Sewage treatment plants Sewage treatment facilities Other Aquariums, fisheries facilities, Super-Kamiokande, etc. 29
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Company Overview: Semiconductors and Water Of the many processes required in the semiconductor manufacturing operations, the cleaning process is said to account for about 30%. Ultrapure water is used in the cleaning process, which is repeated before and after wafer fabrication, film deposition, etching, resist, etc. Silicon wafer The circuit width (line width) of cutting-edge semiconductors is less than 5 nanometers (nm). Adhesion of fine particles to circuits deteriorates the yield (good product rate). => Ultrapure water is used for cleaning. Organo provides ultrapure water supply facilities for cleaning wafers and chips, treatment facilities to render wastewater from cleaning and other manufacturing processes harmless and reduce waste, water recycling systems, and systems to recover and recycle fluorine, rare metals, and other valuable materials from wastewater. 1 ppt or less Ultrapure water contributes to yield improvement. Impurity Concentration 1000 ton/hour Volume of Water Produced 80% Water Recovery Rate What How Much Excellent Technology and Value The mass concentration is one trillionth of a trillionth. The amount of impurities dissolved in ultrapure water in an Olympic 50-m swimming pool (2,500 m3) is equivalent to a teaspoon (2.5 mg) of an earpick. Large-capacity high-performance pumps and large-diameter piping are used. Filled an Olympic 50-m swimming pool (2,500 m3) in 2.5 hours. Semiconductor plants use a large amount of water for cleaning and other purposes, but at cutting-edge plants, more than 80% of water is recovered and reused, utilizing technology that not only recycles water but also recovers valuables contained in wastewater. 30
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Company Overview: Water Treatment Facilities for the Electronics Industry Raw Water Pretreatment Equipment Primary Purified Water Equipment Ultrapure Water Equipment Purified Water Manufac- turing process Wastewater Discharged Water Water Recycle Facilities Valuable Material Recovery Facilities Wastewater Treatment Facilities Combining various technologies to build optimal systems Using treated water and recovered materials Raw water consists of “water and substances” Membrane TreatmentIon Exchange EDI (Electro De-Ionization) Biological Treatment Water Treatment Chemicals Separation of sludge from wastewater Effective use as raw materials for cement, etc. Recovering of valuable materials such as hydrofluoric acid in wastewater Coagulation Sedimentation Dissolved Air Flotation Advanced Analysis Organo’s Core Technologies 80% of water consumption is recycled at state- of-the-art plants 31
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Website: https://www.organo.co.jp/english/ Inquiries: https://www.organo.co.jp/english/contact/input/ Registering to receive the IR email newsletter: https://www.organo.co.jp/english/ir/mail-news/ Released the Organo Group Report 2025 (integrated report): https://www.organo.co.jp/ir/integrated_report/ (in Japanese) The forecasts in this document regarding business are based on information available at the time of preparation and are therefore subject to risk and uncertainty. Actual performance may differ from these projections. Contact 32 NEW