Securities Report – 176th Fiscal Period (2025/04/01 – 2026/03/31)

Ichibata Electric Railway Co., Ltd. Securities Report – 176th Fiscal Period (2025/04/01 – 2026/03/31)

This report has been prepared by Ichibata Electric Railway Co., Ltd. in accordance with the Financial Instruments and Exchange Act, covering the company's business performance, financial condition, and operational status for the 176th fiscal period from April 1, 2025, to March 31, 2026.

The company operates primarily in western Shimane Prefecture, fulfilling its role as a regional infrastructure provider through railway operations, route bus services, real estate management, and the operation of tourism-related facilities. In particular, the Ichibata Electric Railway, which connects Izumo City and Izumo Taisha Shrine, serves not only as a daily transportation option for local residents but also as a vital access route for tourists.

This report includes consolidated and individual financial statements, an overview of business performance, financial condition analysis, cash flow status, details of major investments and borrowings, total executive compensation, shareholder composition, and future management policies. It also discusses business risk factors such as population decline, aging society, fuel price fluctuations, and natural disasters.

Going forward, the company aims to enhance corporate value by continuing to provide sustainable, community-based transportation services and strengthening synergies with its related businesses.