Securities Report - 77th Fiscal Period (2025/04/01 - 2026/03/31)

Nagoya Race Co., Ltd. Securities Report - 77th Fiscal Period (2025/04/01 - 2026/03/31)

This report has been prepared by Nagoya Race Co., Ltd. in accordance with the Financial Instruments and Exchange Act and related regulations, detailing the company's business performance, financial condition, and operational status for the 77th fiscal period from April 1, 2025 to March 31, 2026.

The company operates as a special-purpose corporation managing local horse racing in Nagoya City, Aichi Prefecture, with substantial investment and oversight by the Nagoya Municipal Government. Its primary business involves hosting horse racing events and related pari-mutuel wagering activities at the Nagoya Racecourse. Revenues generated are reinvested into public services and sports promotion within the local community.

Performance for the 77th fiscal period includes detailed disclosures on year-on-year changes in revenue, number of race meetings, entries, payout ratios, and operational cost breakdowns. Future business strategies emphasize enhanced event planning to increase attendance, digital transformation of online betting systems, and stronger outreach to younger demographics.

Identified risk factors include the long-term decline in horse racing popularity, competition from other gambling sectors (such as pachinko and online casinos), race cancellations due to climate-related disruptions, and an aging fan base leading to a shrinking audience.

The company aims to achieve sustainable racing operations through continued transparent disclosure, strengthened collaboration with the local community, and maintaining its position as a representative sports and cultural institution of Nagoya City.