Takara : Revision of Consolidated Business Results Forecast for the Fiscal Year Ending March 31, 2026

November 11, 2025

To whom it may concern,

Company name:	Takara Holdings Inc.
Company representative:	Mutsumi Kimura, President
Securities code and stock exchange listings:	2531 Tokyo (Prime section)
Inquiries:	Masakazu Usami, General Manager of Public Relations & Investor Relations Dept.
TEL:	[phone]

Revision of Consolidated Business Results Forecasts for the Fiscal Year Ending March 31, 2026

Takara Holdings (the "Company") announces revisions to the business results forecasts for the fiscal year ending March 31, 2026 (from April 1, 2025, to March 31, 2026) that it released on May 13, 2025, as stated below. These revisions were based on consideration of recent performance trends.

1. Revised figures for the fiscal year ending March 31, 2026 (from April 1, 2025, to March 31, 2026)

   (Millions of yen / %)

   	Net sales	Operating income	Ordinary income	Net income attributable to owners of the parent	Net income per share
   Previous forecast (A) (May 13, 2025, announcement)	401,000	21,900	22,200	16,300	83.48yen
   Revised forecast (B)	392,000	16,200	15,700	11,100	57.43yen
   Change (B－A)	(9,000)	(5,700)	(6,500)	(5,200)	-
   Change (%)	(2.2)	(26.0)	(29.3)	(31.9)	-
   Reference: Previous business results (fiscal year ended March 31, 2025)	362,693	20,597	22,180	16,202	82.98yen

2. Reason for revision

For the fiscal year ending March 31, 2026, The Takara Shuzo International Group is projected to exceed prior expectations, driven by strong performance in the overseas alcoholic beverage business and additional contributions from M&Aactivities in Japanese food wholesale business in overseas markets. In contrast, Takara Shuzo is expected to fall short of the previous forecast due to a decline in shochu and other products. The Takara Bio Group, however, is anticipated to fall short of forecast, reflecting continued stagnation in the global life science research market and failure to secure new contracts in the CDMO business in Japan. Consequently, consolidated net sales for the Group are expected to fall below the previous forecast.

Operating income is expected to exceed the previous forecast for Takara Shuzo, despite lower gross profit, due to efficient management of selling, general and administrative expenses. For the Takara Shuzo International Group, although the Japanese food wholesale business in overseas markets is expected to fall short due to intensified competition and increased SG&Aexpenses, the overseas alcoholic beverage business is performing well and is expected to exceed the previous forecast. The Takara Bio Group is projected to post an operating loss due to the significant impact of declining sales. As a result, consolidated operating income for the Group is also expected to fall below the previous forecast.

Net income attributable to owners of the parent is expected to fall below the previous forecast. Although extraordinary gains are anticipated to increase due to the sale of investment securities and fixed assets, extraordinary losses are also expected to increase, mainly due to impairment losses related to the Takara Bio Group. In addition, the partial reversal of deferred tax assets is expected to have negative impact on the company.

For details of the revised segment forecasts, please refer to the "Supplement for the Consolidated Financial Statements for the Second Quarter Ended September 30, 2025" (Pages 10/15 to 13/15), disclosed today.

Additionally, our consolidated subsidiary, Takara Bio Inc. (Code: 4974, TSE Prime Market), has also revised its consolidated earnings forecast for the fiscal year ending March 31, 2026.

* The above-mentioned forecasts have been prepared based on the information available as of the date of announcement of this document and could differ from the actual results, etc.

Forward-Looking Statements

Statements in this document, other than those based on historical fact, concerning the current plans, prospects, strategies and expectations of the Company represent forecasts of future results. While such statements are based on the conclusions of management according to information available at the time of writing, they reflect many assumptions and opinions derived from information that includes major risks and uncertainties. Actual results may vary significantly from these forecasts dueto various factors. Factors that could influence actualresults include, but arenot limited to, economicconditions, especially trends in consumer spending, as well as exchange rate fluctuations, changes in laws and government systems, pressure from competitors' prices and product strategies, declines in selling power of the Company's existing and new products, disruptions to production, violations of the Company's intellectual property rights, rapid advances in technology and unfavorable verdicts in major litigation.

Note: Thisdocumenthasbeentranslated fromthe Japaneseoriginalfor reference purposesonly. In theevent of anydiscrepancybetween this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.