SUBARU CO.,LTD.

During the interim accounting period, 昴 operated as a single-segment company engaged in the cram school business, supporting students’ learning through the provision of educational services incorporating AI-based learning support. During the period, it consolidated and reorganized nearby schools, opened new schools, and fully launched its online one-to-one tutoring service. In the Senior High School Division’s Okinawa unit, the operating policy was shifted toward a focus on current high school students in response to the growing preference for entering university directly from high school. The Company also established a system for providing high-quality educational services, including reciprocal distribution of video-streamed lessons in certain regions. Financial results for the interim period were net sales of ¥1,608 million, an operating loss of ¥14 million, an ordinary loss of ¥7 million, and an interim net loss of ¥26 million. Net sales by division were ¥469 million for the Preschool and Elementary School Division, ¥751 million for the Junior High School Division, ¥223 million for the Senior High School Division, ¥91 million for one-to-one tutoring, and ¥72 million for Other. Cash and cash equivalents at the end of the interim period were ¥340.612 million, total assets were ¥6,476.127 million, net assets were ¥3,551.486 million, total shareholders’ equity was ¥3,410.932 million, and treasury shares were negative ¥513.467 million. Cash and deposits were ¥337.322 million, while total fixed assets, including intangible fixed assets, were ¥6,016.183 million. Total assets were ¥6,476.127 million. Capital expenditures were ¥33,178,000, and free cash flow was -¥52,891,000. The interim financial statements are standalone financial statements and have undergone an interim review. The interim period filing date is 2026-10-15.