On 7 August 2026, KeyHolder, which operates an integrated range of initiatives involving the planning, production, development and monetization of IP (talent, artists and content), with Nogizaka46 as its core IP, announced its results for Q1 to Q2 (January–June) FY12/2026. Its core Entertainment Business achieved revenue and profit growth, supported by strong performance related to Nogizaka46 and contributions from AOI Corporation from the beginning of the fiscal year. Its Video Production Business also achieved profit growth, reflecting the strong performance of variety shows and improved profitability across its divisions. Meanwhile, although its Advertising Agency Business continued to be affected by factors including reduced advertising spending by major clients, the Company indicated that its initiatives to improve earnings have begun to produce results. The full-year Company forecast remains unchanged, but the Company stated that its Q1 to Q2 (January–June) results were trending above the assumptions underlying the Company forecast, while aiming to achieve the forecast by steadily executing the projects scheduled for H2 (July–December). The Company is also actively considering a dividend increase in light of its performance trends. We plan to obtain further details through an interview with the Company’s management and subsequently update and re-release our Company Report based on the information obtained.

On 10 August 2026, Shinwa, which manufactures, sells and rents temporary construction materials used at construction sites, provides installation services, and manufactures and sells logistics equipment, announced results for Q1 (April-June) FY03/2027. Revenue and profits at each level reached record highs for Q1 for the second consecutive year. FY03/2027, the first year of the medium-term management plan (FY03/2027–FY03/2031), has gotten off to a solid start, supported by strengthened proposals covering both sales and rentals and coordination with installation services in Temporary Construction Materials, the acquisition of high-value-added projects in Logistics Equipment and continued cost reduction initiatives. In Temporary Construction Materials, amid a continued shift in demand from purchases to rentals, “Wedge Binding Type Scaffoldings” and “Installation & Rental Services” are driving revenue growth. Meanwhile, in Logistics Equipment, large-scale logistics facility-related projects and made-to-order projects such as special-purpose transportation pallets are progressing steadily. Going forward, in addition to strengthening installation and rental functions, the Company plans to leverage the functions it has expanded through M&A, including aluminum machining and formwork & civil engineering works, and promote Group-wide sales activities, joint proposals and technological collaboration, with the aim of evolving into a “total solutions company for construction and logistics sites.”

On 10 July 2026, NAKAMOTO PACKS, a high-performance packaging manufacturer whose business is based on Food Packaging & Containers while also operating in such fields as IT & Industrial Materials, announced its results for Q1 (March–May) FY02/2027. IT & Industrial Materials continued to perform strongly, making it increasingly likely that the Company will achieve the performance targets set out in the Medium-Term Management Plan 2027 (FY02/2027–FY02/2029). Sales, operating profit and recurring profit all reached record highs for Q1 (March–May). In IT & Industrial Materials, sales increased in mobile-related applications, including smartphones, as well as semiconductor-related applications. In addition, profitability improved substantially, with the gross profit margin rising to 25.4%, up 3.9% points year on year. In line with the plan, the Company appears to be steadily translating into action its policy of improving profitability in IT & Industrial Materials through stronger development capabilities, a higher ratio of in-house products, lower manufacturing costs and improved production efficiency. Meanwhile, Food Packaging & Containers, the Company’s mainstay and largest earnings source, continued to post steady increases in both sales and profit, supporting the Company’s overall growth.