Nihon M&A Center Holdings Inc.

Record performance / financial highlights (good & surprising): - Q3 alone: Revenue JPY 15.1bn (+34.6% YoY, record), Ordinary profit JPY 7.1bn (+51.5% YoY), OP margin 47.2%. - First 9 months (cumulative): Revenue JPY 37.7bn (+26.5% YoY, company-record), Recurring profit JPY 15.7bn (+46.8% YoY), Recurring profit margin >40% (stated >40%), OP margin 41.7% (+5.8pp YoY). - Deals: Transactions closed 810 (9 months, +9.8% YoY); Q3 322 deals (progressing well). M&A sales per transaction ~JPY 45m (Q3/M&A unit pricing maintained at high level).

Guidance progress & outlook (how management frames Q4/next FY): - Against FY ending Mar 2026 guidance (unchanged): - Sales target JPY 46.3bn → JPY 37.7bn achieved (81.5%). - Ordinary profit target JPY 17bn → JPY 15.7bn achieved (92.5%). - Management expects a “rocket start” next fiscal year by boosting Q3 performance so Q4 doesn’t rely on late deal timing (noted: Q3-to-Q4 flow can otherwise cause delays into next year). No change to guidance and midterm targets.

What drove the upside (operational drivers investors care about): - Closure execution improved systematically (not “luck”): - Kickoff meetings across seller/buyer stakeholders (incl. legal/tax/accounting) to align schedules, stakeholders, and key challenges upfront. - M&A audits early to surface issues and reduce “trust/surprise” risk. - More managers + weekly deal-management instruction (Monday guidance) to tighten process discipline after prior issues/scandal era. - Unit economics held up: not targeting higher per-deal pricing, but protecting ~JPY 40m “healthy” level by prioritizing mid-cap deals and enabling consultants with proposal/document support (implied by management that unit price strength is partly due to a mid-cap dedicated consultant team/system).