Kyokuyo Co., Ltd. · TSE:1301

Kyokuyo — Q2 FY2025 Earnings Presentation

41 slides from Kyokuyo's earnings presentation, Nov 11, 2025

1. Slide 1: IR Presentation Materials: Q2 FY2025 Financial Results

   IR Presentation Materials: Q2 FY2025 Financial Results November 2025 KYOKUYO CO., LTD. (Tokyo Stock Exchange Prime Section Securities Code: 1301)

2. Slide 2: Contents

   Contents １. H1 Review pp.2-6 ２. H1 Performance pp.7-12 ３. Status by Segment pp.13-19 ４. Measures for H2 pp.20-23 ５. Capital Investment Results/Plan pp.24-26 ６. Dividend Trends pp.27-28 Reference Materials pp.29-35

3. Slide 3: 1. H1 Review

   rexa73y 1.H1 Review Copyright© Kyokuyo Co.,Ltd. All Rights Reserved. 2

4. Slide 4: Q2 FY2025 Highlights

   Q2 FY2025 Highlights Profit attributable to Net sales Operating profit Ordinary profit owners of parent 155.9 bn yen 4.5 bn yen 4.1 bn yen 2.8 bn yen Y-o-Y +15.4 bn yen Y-o-Y －0.9 bn yen Y-o-Y －1.1 bn yen Y-o-Y +0.1 bn yen （+11.0％） （－16.6％） （－21.5％） （+3.9％） (Billions of yen) 155.9 4.2 140.5 133.6 12

5. Slide 5: Priority Measures and Topics of the Medium-term Business Plan

   Priority Measures and Topics of the Medium-term Business Plan Perspective Globalization Expanding business base Expanding Overseas Businesses Medium-term Business Plan Targets FY2026 Overseas net sales ratio 15% or more（60bn yen） (for reference) H1 FY2025 Act 13.6％ （21.1bn yen） H1 FY2024 Act 8.8％ （1

6. Slide 6: Priority Measures and Topics of the Medium-term Business Plan

   Priority Measures and Topics of the Medium-term Business Plan Changes in Global Per Capita Annual ➢ Expanded overseas bases Consumption of Seafood (Gross Food Basis) Source:”Trends of Marine Products 2024,” Fisheries Agency Fish consumption continues to grow globally, driven by increasing kg/person/

7. Slide 7: Priority Measures and Topics of the Medium-term Business Plan

   Priority Measures and Topics of the Medium-term Business Plan Perspective Four businesses Expanding Securing high profitability by making high-added-value 事業基盤の拡充 products business base ➢ Announced new products for Autumn 2025 [July 2025] Developed new products that make the deliciousness and nutrit

8. Slide 8: 2. H1 Performance

   rexa73y 2.H1 Performance Copyright© Kyokuyo Co.,Ltd. All Rights Reserved.

9. Slide 9: Consolidated Statements of Income

   Consolidated Statements of Income (Millions of yen) Net sales 15,431 11.0% 350,000 44.6% Operating profit －909 －16.6% 12,500 36.4% Ordinary profit －1,143 －21.5% 12,500 33.4% Profit attributable to owners of parent 105 3.9% 8,200 34.3% ➢ Compared to same term last year ・Sales increased due to growth

10. Slide 10: Analysis of Changes in Net Sales and Operating Profit by Segment

    Analysis of Changes in Net Sales and Operating Profit by Segment Net sales （Millions of yen） +419 +21 155,996 +2,272 +12,729 140,565 -10 Operating profit 5,464 -477 +3 4,555 -154 -200 -79

11. Slide 11: Consolidated Balance Sheet

    Consolidated Balance Sheet (Millions of yen) Assets Liabilities Current assets 131,759 147,401 15,642 Current liabilities 79,528 90,160 10,632 Notes and accounts 12,304 12,754 449 payable-trade Notes and accounts 36,412 42,592 6,180 Short-term borrowings receivable-trade (including commercial 50,687

12. Slide 12: Consolidated Cash Flows

    Consolidated Cash Flows (Millions of yen) Profit before income taxes 4,118 4,197 79 Depreciation 1,216 1,434 218 Decrease (increase) in trade receivables -349 -6,054 -5,705 Cash flows from operating activities Decrease (increase) in inventories -5,930 -10,813 -4,883 Increase (decrease) in trade paya

13. Slide 13: Consolidated Finance-Related Metrics

    Consolidated Finance-Related Metrics Changes in Consolidated Financial Metrics for Q２ (Cumulative) FY2021 FY2022 FY2023 FY2024 FY2025 Y-o-Y Equity (millions of yen) 42,070 46,027 50,219 61,340 70,404 9,063 Interest-bearing debt 56,798 75,748 74,435 82,609 94,029 11,419 (millions of yen) Total assets

14. Slide 14: 3. Status by Segment

    rexa73y 3. Status by Segment Copyright© Kyokuyo Co.,Ltd. All Rights Reserved.

15. Slide 15: Status by Segment

    Status by Segment Net Sales and Profit by Segment (Millions of yen) Marine Products 74,501 87,230 12,729 3,144 2,667 －477 Business Freshfoods Business 32,051 34,324 2,272 1,645 1,491 －154 Processed Food 32,906 33,325 419 1,413 1,213 －200 Business Logistics Business 838 827 －10 151 154 3 Other 267 28

16. Slide 16: Status by Segment

    Status by Segment (Millions of yen) Logistics Logistics Proportion of total Business Business in parentheses Other Other 827 288 154 147 （0.5％） （2.7％） Processed Processed Food Business Food Business Marine Products 33,325 1,213 Business （21.4％） （21.4％） 2,667 Net sales Marine Products Business Operat

17. Slide 17: Status by Segment: Marine Products Business

    Status by Segment ➢ Marine Products Business (Millions of yen) 90,000 Net Sales Profit 3,200 [Higher sales, lower profit] 3,144 87,230 • Sales and profits of mackerel increased in both offshore trade and exports. 74,501 70,000 2,800 • Domestic sales volume of scallops declined, but sales revenue 2,6

18. Slide 18: Status by Segment: Freshfoods Business

    Status by Segment (Millions of yen) Net Sales Profit ➢ Freshfoods Business 35,000 1,645 1,700 1,600 [Higher sales, lower profit] 34,324 1,500 (Sales of Tuna & Skipjack business) 33,000 1,491 1,400 • Sales of frozen bluefin tuna, bigeye tuna, yellowfin tuna, and processed tuna products increased, lea

19. Slide 19: Status by Segment: Processed Food Business

    Status by Segment ➢ Processed Food Business (Millions of yen) Net Sales Profit [Higher sales, lower profit] 35,000 1,600 (Frozen foods for industrial use) 1,413 33,325 • Sales of some products, such as boneless fillets, declined due to 33,000 1,200 1,213 intensifying competition with inexpensive ove

20. Slide 20: Status by Segment: Logistics Business

    Status by Segment ➢ Logistics Business (Millions of yen) 900 Net Sales Profit 200 827 [lower sales, Higher profit] 838 800 151 154 (Cold storage business) 700 100 • Sales increased due to increase of the receiving cargo. 600 (Consigned forwarding business) 500 0 Q2 FY2024 Q2 FY2025 • Profits improve

21. Slide 21: 4. Measures for H2

    rexa73y 4 .Measures for H2 Copyright© Kyokuyo Co.,Ltd. All Rights Reserved.

22. Slide 22: Performance Forecast and Progress

    Performance Forecast and Progress (Millions of yen) Marine Products 87,230 2,667 200,000 7,000 38.1％ Business Freshfoods Business 34,324 1,491 73,700 3,700 46.6％ 40.3％ Processed Food Business 33,325 1,213 74,000 3,300 45.0％ 36.8％ Logistics Business 827 154 1,700 300 48.7％ 51.3％ Other 288 －971 600 －1

23. Slide 23: Measures for H2

    Measures for H2 [Marine Products Business] ⚫ Focus on expanding sales of high-value products during year-end sales season ⚫ Implement sales strategies and inventory management in anticipation of market trends ⚫ Develop and expand overseas production/sales bases [Freshfoods Business] ⚫ Optimize opera

24. Slide 24: Measures for H2

    Measures for H2 [Processed Food Business] ⚫ Expand sales and improve profitability by strengthening in-house plant production ⚫ Strengthen product lineup in line with demand trends [Logistics Business] ⚫ Improve profitability through review of warehouse/storage management ⚫ Increase delivery efficie

25. Slide 25: 5. Capital Investment Results/Plan

    ５. Capital Investment Results/Plan

26. Slide 26: Capital Investment Results/Full Year Plan

    Capital Investment Results/Full Year Plan Major Investments FY2023 FY2024 FY2025 Actual on Actual on Actual on FY2025 Overview September September September ・ 0.5bn for imitation crab meat Plan 30 30 30 manufacturing subsidiary Ocean’s Kitchen in North America Production plant-related 0.2bn yen 0.5b

27. Slide 27: Depreciation Results

    Depreciation Results (Millions of yen) Q2 FY2023 Q2 FY2024 Q2 FY2025 Depreciation 1,173 1,216 1,434

28. Slide 28: 6. Dividend Trends

    rexa73y 6. Dividend Trends Copyright ©Kyokuyo Co.,Ltd. All Rights Reserved.

29. Slide 29: Dividend Trends

    Dividend Trends Dividends have been maintained or increased for 26 *Record date for dividends is March 31. No interim dividends. consecutive fiscal terms, ensuring stable shareholder returns. （yen） Will aim for a dividend of 150 yen, up 20 yen from the previous year, for the fiscal year ending March

30. Slide 30: Reference Materials

    rexa73y Reference Materials

31. Slide 31: Reference Materials (1)

    Reference Materials (1) Marine Products Business （H1） ＜Non-consolidated＞ Net Sales and Unit price of each seafood type by year （Millions of yen） （yen／kg） 25,000 1,600 1,400 20,000 Salmon and 1,200 trout Net Sales Nothern ocean 15,000 1,000 fish Shrimp 800 Salmon and 10,000 600 trout Unit price Nothe

32. Slide 32: Reference Materials (2)

    Reference Materials (2) Freshfoods Business Segment （H1） Domestic bluefin tuna farming business Sales weight･amount Weight （ Millions of yen ） （tons） 700 Amount 1,600 600 1,400 1,200 500 1,000 400 800 300 600 200 400 100 200 0 0 FY2021 FY2022 FY2023 FY2024 FY2025

33. Slide 33: Reference Materials (3)

    Reference Materials (3) Freshfoods Business Segment（H1） Overseas purse seine fishing business, About overseas purse-seine fishing business Tuna caught by Group-owned vessels in the Central Catch weight & fish prices and Western Pacific (Papua New Guinea, etc.) is landed in Japan, processed into prod

34. Slide 34: Reference Materials (4)

    Reference Materials (4) Breakdown of（First half of the year）sales FY2025（33.325billion yen） in Processed Food Business FY2024（32.906billion yen） By temperature range By industry type ■Frozen Food Business ■ For industrial use ■ Shelf-Stable Food Business ■ For home use 100% 7.9 7.7 90% bn yen bn yen

35. Slide 35: Reference Materials (5): ESG Topics

    Reference Materials (5) ESG Topics ➢ Sponsorship of the Japan Canoe Federation We support the activities of Japanese national team athletes and the Japan Canoe Federation as part of environmental conservation activities that convey to society “the concept of coexisting with nature” and “the importan

36. Slide 36: Reference Materials (6): Consolidated Q2 Performance

    Reference Materials (6) ➢ Consolidated Q2 Performance （Millions of yen） FY2021 FY2022 FY2023 FY2024 FY2025 Net sales 120,880 133,619 Cost of sales 106,951 116,774 109,937 121,736 136,128 Gross profit 13,929 16,844 16,138 18,828 19,868 Selling& general administrative 10,706 11,469 12,141 13,363 15,31

37. Slide 37: Notes of Caution Regarding Forecasts

    Notes of Caution Regarding Forecasts These materials are created with the purpose of providing information about performance as at September 30, 2025 and our future management vision. Earning forecasts and estimates in these materials are based on the information currently available and include pote

38. Slide 38: Marine Products Business

    Marine Products Business Sales destination ・Processing business operators Domestic sales ・Food manufacturers Raw Sales ・Wholesale market materials ・Wholesalers ・Supermarkets Procuring from ・Restaurant industry around the world (Salmon and trout , Shrimp, Mackerel, etc.) Processing Sales destination

39. Slide 39: Freshfoods Business

    Freshfoods Business Sales destination Procurement Tuna Skipjack Raw material sales ・Wholesale market (Catch by our own vessels , Purchasing) ・Processing business operators Business ・Food manufacturers Tuna Procurement Processed product sales Sales destination (Purchasing, ・Block ・Conveyor belt sushi

40. Slide 40: Processed Food Business

    Processed Food Strength in marine materials Business For industrial use Production Sales destination Frozen Food Sales ・Supermarkets (deli counters) (Our own plants , Affiliated factories) ・Izakaya (Japanese-style pubs) ・Simmered fish ・Restaurants ・Grilled fish ・Industrial food service ・Imitation cr

41. Slide 41: Logistics Business

    Logistics We do not develop transportation services by truck. Business Main business is storage and delivery arrangement of marine products and food products of the Kyokuyo Group. Overseas Marine Products Suppliers Our own plants Storage Delivery Delivery Destination arrangements (Processed marine p

Kyokuyo — Q2 FY2025 Earnings Presentation on 6ix