AIRMAN CORPORATION

The AIRMAN Group focuses primarily on the manufacture and sale of construction and industrial machinery and comprises the Company, 6 subsidiaries and 1 affiliate. Its main products include construction machinery such as engine compressors, engine generators and aerial work platforms, and industrial machinery such as motor compressors and emergency generators. In overseas markets, North America is positioned as a growth driver, while the Group is expanding its presence in Oceania and Asia. In Japan, it is strengthening its development of industrial and construction machinery. In December 2025, the Group began selling generators for refrigerated containers and is considering overseas expansion based on its domestic track record. Under Medium-Term Vision 2027, it is pursuing portfolio restructuring and a growth strategy, with a target ROE of at least 12% for fiscal 2028, a total payout ratio of 70% and approximately ¥10 billion in total shareholder returns over 3 years. Progress under the medium-term vision includes expanding transactions with major nationwide rental companies by strengthening relationships with North American distributors, expanding overseas markets and strengthening the domestic industrial machinery business. Targets for fiscal 2025 are assumed to be net sales of ¥55,000 million, operating income of ¥6,920 million, ordinary income of ¥7,000 million, net income attributable to owners of the parent of ¥4,870 million, ROE of at least 12%, a total payout ratio of 70% and annual dividends of ¥72 per share, including a year-end dividend of ¥52. Actual results for fiscal 2025 were net sales of ¥55,604 million, operating income of ¥7,184 million, ordinary income of ¥8,014 million and net income attributable to owners of the parent of ¥5,596 million.