Double Standard Inc. — Earnings Release 2026

Jun 3, 2026

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

JYFASF

June 3, 2026

To whom it may concern,

Company name: Double Standard Inc.
Representative: Yasuhiro Shimizu,
Representative Director
Code number: 3925 TSE Prime
Contact: Mitsunobu Wada,
Executive Officer, General
Manager of Corporate
Management Division
Phone: +81-3-6384-5411

(Correction / Numerical Data Correction) Partial Correction to “Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 [Japanese GAAP]”

The Company hereby announces that a correction has been made to the above-mentioned disclosure document released on May 13, 2026. In addition, numerical data (XBRL) have also been corrected, and the corrected numerical data will be submitted accordingly.

1. Reason for the correction
   Regarding the amount of shareholders’ equity for the fiscal year ended March 31, 2026 stated in “(2) Consolidated financial position” under “1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026),” an incorrect figure was disclosed. Accordingly, the Company hereby makes this correction to the previously announced financial results report.
   Please note that this correction has no impact on the Company’s operating results, balance sheets, or statements of income.

2. Details of corrections
   Corrected portions are underlined.
   Consolidated Financial Results for the Year Ended March 31, 2026 [Japanese GAAP]

3. Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026)

[Before correction]
(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2026	7,383	6,679	90.5	494.19
As of March 31, 2025	7,526	6,382	84.8	472.24

(Reference) Equity: As of March 31, 2026: ¥6,712 million
As of March 31, 2025: ¥6,382 million

[After correction]
(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2026	7,383	6,679	90.5	494.19
As of March 31, 2025	7,526	6,382	84.8	472.24

(Reference) Equity: As of March 31, 2026: ¥6,679 million
As of March 31, 2025: ¥6,382 million

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Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Double Standard

Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 [Japanese GAAP]

FASF

WEMBEFGHIP

May 13, 2026

Company name: Double Standard Inc.
Stock exchange listing: Tokyo Stock Exchange
Code number: 3925
URL: https://double-std.com
Representative: Yasuhiro Shimizu, Representative Director
Contact: Mitsunobu Wada, Executive Officer, General Manager of Corporate Management Division
Phone: +81-3-6384-5411
Scheduled date of Annual General Meeting of Shareholders: June 29, 2026
Scheduled date of commencing dividend payments: June 30, 2026
Scheduled date of filing annual securities report: June 30, 2026
Availability of supplementary explanatory materials on annual financial results: Yes (available in Japanese only)
Schedule of annual financial results briefing session: Scheduled (for analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026)

(1) Consolidated Operating Results
(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
Fiscal year ended March 31, 2026	Million yen	%	Million yen	%	Million yen	%	Million yen	%
March 31, 2025	7,010	(12.4)	1,721	(33.9)	1,692	(35.1)	1,107	(37.9)
March 31, 2025	8,000	11.9	2,606	12.9	2,608	13.6	1,782	7.7

(Note) Comprehensive income: Fiscal year ended March 31, 2026: ¥1,107 million [(37.9)%]
Fiscal year ended March 31, 2025: ¥1,784 million [6.5%]

	Basic earnings per share	Diluted earnings per share	Return on equity	Ratio of ordinary profit to total assets	Ratio of operating profit to net sales
Fiscal year ended March 31, 2026	Yen	Yen	%	%	%
March 31, 2026	81.95	-	17.0	22.7	24.6
March 31, 2025	131.87	-	30.1	37.0	32.6

(Reference) Share of profit (loss) of entities accounted for using equity method:
Fiscal year ended March 31, 2026: ¥- million
Fiscal year ended March 31, 2025: ¥- million

(2) Consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
As of March 31, 2026	Million yen	Million yen	%	Yen
	7,383	6,679	90.5	494.19
As of March 31, 2025	7,526	6,382	84.8	472.24

(Reference) Equity: As of March 31, 2026: ¥6,679 million
As of March 31, 2025: ¥6,382 million

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(3) Consolidated cash flows

	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
Fiscal year ended	Million yen	Million yen	Million yen	Million yen
March 31, 2026	775	(23)	(811)	5,286
March 31, 2025	1,994	(138)	(970)	5,346

1. Dividends

	Annual dividends					Total cash dividends (Total)	Payout ratio (Consolidated)	Ratio of dividends to net assets (Consolidated)
	1st quarter-end	2nd quarter-end	3rd quarter-end	Year-end	Total
	Yen	Yen	Yen	Yen	Yen	Million yen	%	%
Fiscal year ended March 31, 2025	-	0.00	-	60.00	60.00	810	45.5	13.7
Fiscal year ended March 31, 2026	-	0.00	-	70.00	70.00	946	85.4	14.5
Fiscal year ending March 31, 2027 (Forecast)	-	0.00	-	70.00	70.00		79.0

1. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027)

(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Basic earnings per share
Full year	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
	7,200	2.7	1,800	4.6	1,760	4.0	1,197	8.1	88.56

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• Notes:

(1) Changes in significant subsidiaries during the period: None
(Changes in specified subsidiaries resulting in changes in the scope of consolidation):
Newly included: - ( ), Excluded: - ( )

(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None

(3) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2026: 13,580,000 shares
March 31, 2025: 13,580,000 shares
2) Number of treasury shares at the end of the period:
March 31, 2026: 64,154 shares
March 31, 2025: 64,154 shares
3) Average number of shares outstanding during the period:
Fiscal year ended March 31, 2026: 13,515,846 shares
Fiscal year ended March 31, 2025: 13,515,846 shares

[Reference] Overview of Non-consolidated Financial Results

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2026 (April 1, 2025 to March 31, 2026)

(1) Non-consolidated Operating Results
(% indicates changes from the previous corresponding period.)

	Net sales		Operating profit		Ordinary profit		Profit
Fiscal year ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
March 31, 2026	6,536	(12.9)	1,586	(36.3)	1,556	(48.2)	1,024	(53.9)
March 31, 2025	7,498	11.8	2,486	17.4	2,988	42.5	2,220	43.3
	Basic earnings per share	Diluted earnings per share
---	---	---
Fiscal year ended	Yen	Yen
March 31, 2026	75.82	-
March 31, 2025	164.31	-

(2) Non-consolidated financial position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2026	6,148	5,552	90.3	410.85
As of March 31, 2025	6,410	5,339	83.3	395.03

(Reference) Equity: As of March 31, 2026: ¥5,552 million
As of March 31, 2025: ¥5,339 million

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• These consolidated financial results are outside the scope of the audit by certified public accountants or an audit firm.

• Explanation of the proper use of financial results forecast and other notes

The financial results forecast and other forward-looking statements presented in this document are based on information that is currently available to the Company and certain assumptions that the Company deems reasonable, and are not intended to represent the Company's commitment to achieve the projected financial results. In addition, actual financial results, etc. may differ significantly from the forecast and statements due to various factors.

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1

Table of Contents - Attachments

1. Overview of Operating Results, etc. ... 2
   (1) Overview of Operating Results for the Fiscal Year under Review ... 2
   (2) Overview of Financial Position for the Fiscal Year under Review ... 2
   (3) Overview of Cash Flows for the Fiscal Year under Review ... 3
   (4) Future Outlook ... 3

2. Basic Policy on Selection of Accounting Standards ... 3

3. Consolidated Financial Statements and Principal Notes ... 4
   (1) Consolidated Balance Sheets ... 4
   (2) Consolidated Statements of Income and Comprehensive Income ... 6
   Consolidated Statements of Income ... 6
   Consolidated Statements of Comprehensive Income ... 7
   (3) Consolidated Statements of Changes in Equity ... 8
   (4) Consolidated Statements of Cash Flows ... 10
   (5) Notes to Consolidated Financial Statements ... 11
   (Notes on going concern assumption) ... 11
   (Segment information, etc.) ... 11
   (Per share information) ... 12
   (Significant subsequent events) ... 12

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2

1. Overview of Operating Results, etc.

(1) Overview of Operating Results for the Fiscal Year under Review

During the fiscal year ended March 31, 2026, the Japanese economy saw a moderate recovery trend, owing to recoveries in consumer spending and service demand. However, the outlook remained unclear with a partly stagnant economic trend mainly due to surging oil prices, the situation around the Middle East growing tense, and impacts from fluctuations in exchange rates.

In the information service industry, in which the Group operates, demands continued to steadily grow for information security measures, the development of IT infrastructure, and investments for more efficient operations and labor saving, against the backdrop of the promotion of corporate digital transformation (DX.) In addition, with a strong growth in capital investment mainly into software, the information and communications field strongly grew in general, supported by demand for corporate services.

In this business environment, the Group focused its efforts on provision of more sophisticated services for existing customers and the acquisition of new customers, and pushed ahead with development of new services and sales activities, expecting a growth in the next fiscal years. Meanwhile, since the businesses with a main business partner generally came to end on March 31, 2025, excluding some continued businesses, net sales and all kinds of profits for the fiscal year ended March 31, 2026 decreased year on year. In consideration of these impacts, the Group has been reviewing customer portfolios and focusing on the acquisition of new customers and restructuring of its revenue base to promote the structural improvement toward a mid- and long-term growth.

As a result, for the fiscal year ended March 31, 2026, the Company recorded net sales of ¥7,010 million (down 12.4% year on year), operating profit of ¥1,721 million (down 33.9% year on year), ordinary profit of ¥1,692 million (down 35.1% year on year), and profit attributable to owners of parent of ¥1,107 million (down 37.9% year on year).

(2) Overview of Financial Position for the Fiscal Year under Review

(Current Assets)

Current assets at the end of the fiscal year under review amounted to ¥6,385 million, a decrease of ¥17 million from the end of the previous fiscal year. This was mainly attributable to a decrease of ¥167 million in accounts receivable - trade, despite an increase of ¥127 million in prepaid expenses.

(Non-current Assets)

Non-current assets at the end of the fiscal year under review amounted to ¥997 million, a decrease of ¥125 million from the end of the previous fiscal year. This was mainly attributable to decreases of ¥58 million in buildings, net and ¥33 million in goodwill.

(Current Liabilities)

Current liabilities at the end of the fiscal year under review amounted to ¥649 million, a decrease of ¥446 million from the end of the previous fiscal year. This was mainly attributable to decreases of ¥385 million in income taxes payable and ¥40 million in accrued consumption taxes, despite an increase of ¥19 million in accounts payable - trade.

(Non-current Liabilities)

Non-current liabilities at the end of the fiscal year under review amounted to ¥54 million, an increase of ¥6 million from the end of the previous fiscal year. This was due to an increase of ¥5 million in provision for retirement benefits for directors (and other officers).

(Net assets)

Net assets at the end of the fiscal year under review amounted to ¥6,679 million, an increase of ¥296 million from the end of the previous fiscal year. This was mainly attributable to the recording of ¥1,107 million in profit attributable to owners of parent, despite ¥810 million in dividends of surplus.

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(3) Overview of Cash Flows for the Fiscal Year under Review

Cash and cash equivalents (hereinafter, “funds”) at the end of the fiscal year under review amounted to ¥5,286 million, a decrease of ¥59 million from the end of the previous fiscal year.

The status of cash flows and their factors thereof for the fiscal year under review are as follows.

(Cash Flows from Operating Activities)

Funds provided by operating activities amounted to ¥775 million. This was mainly due to ¥1,624 million in profit before income taxes, despite ¥876 million in income taxes paid.

(Cash Flows from Investing Activities)

Funds used in investing activities amounted to ¥23 million. This was mainly due to ¥25 million in purchase of intangible assets.

(Cash Flows from Financing Activities)

Funds used in financing activities amounted to ¥811 million. This was due to ¥811 million in dividends paid by parent company.

(4) Future Outlook

While the business with the Daiwa Living Group, who is our main business partner, generally came to end on March 31, 2025, support operations for system migration, etc. at the said company have continued to some extent. However, on the assumption that some ongoing businesses will eventually come to end depending on a situation of the system migration at the said company, in consideration of the impact thereof, the Company has been reviewing customer portfolios, acquiring new customers, promoting upselling and cross-selling to existing customers, and focusing on development of new services and sales expansion, so as to restructure its revenue base. In addition, having participated in SBI Group since September 2025, the Company has been proactively working on creating business opportunities through corporation with SBI group companies.

For the fiscal year ending March 31, 2027, the Company expects net sales of ¥7,200 million, operating profit of ¥1,800 million, ordinary profit of ¥1,760 million, and profit attributable to owners of parent of ¥1,197 million.

We will strive to absorb the impact of the end of the business with the main business partner step-by-step, and preferentially work to strengthen our business base toward a mid- and long-term growth.

The earnings forecasts described in this document are based on information available at the time of writing and on certain assumptions considered reasonable. However, actual earnings may differ from these forecasts depending on various factors. If any revisions to the earnings forecasts become necessary, these will be promptly announced.

1. Basic Policy on Selection of Accounting Standards

Since the Group does not currently operate internationally, the consolidated financial statements are prepared based on Japanese accounting standards.

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4

3. Consolidated Financial Statements and Principal Notes

(1) Consolidated Balance Sheets

(Thousand yen)

	As of March 31, 2025	As of March 31, 2026
Assets
Current assets
Cash and deposits	5,346,541	5,286,741
Accounts receivable - trade	989,003	821,367
Work in process	13,970	71,397
Prepaid expenses	13,828	141,238
Other	39,528	64,946
Total current assets	6,402,871	6,385,691
Non-current assets
Property, plant and equipment
Buildings, net	325,632	267,619
Tools, furniture and fixtures, net	52,606	30,217
Land	250,714	250,714
Total property, plant and equipment	628,953	548,551
Intangible assets
Software	72,367	65,042
Goodwill	260,082	226,523
Other	2,007	1,613
Total intangible assets	334,457	293,179
Investments and other assets
Investment securities	0	0
Deferred tax assets	58,774	58,794
Leasehold and guarantee deposits	98,108	96,708
Other	2,894	264
Total investments and other assets	159,778	155,768
Total non-current assets	1,123,188	997,499
Total assets	7,526,060	7,383,191

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(Thousand yen)

	As of March 31, 2025	As of March 31, 2026
Liabilities
Current liabilities
Accounts payable - trade	401,900	421,113
Accounts payable - other	37,455	14,056
Accrued expenses	23,078	27,915
Income taxes payable	491,176	105,598
Accrued consumption taxes	106,279	65,635
Advances received	17,160	-
Other	18,487	15,009
Total current liabilities	1,095,537	649,328
Non-current liabilities
Retirement benefit liability	11,862	13,340
Provision for retirement benefits for directors (and other officers)	35,872	41,062
Total non-current liabilities	47,734	54,402
Total liabilities	1,143,272	703,731
Net assets
Shareholders’ equity
Share capital	263,778	263,778
Capital surplus	142,455	142,455
Retained earnings	6,071,755	6,368,426
Treasury shares	(95,199)	(95,199)
Total shareholders’ equity	6,382,788	6,679,460
Total net assets	6,382,788	6,679,460
Total liabilities and net assets	7,526,060	7,383,191

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(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
(Thousand yen)

	For the fiscal year ended March 31, 2025	For the fiscal year ended March 31, 2026
Net sales	8,000,645	7,010,865
Cost of sales	4,125,222	4,131,162
Gross profit	3,875,422	2,879,703
Selling, general and administrative expenses	1,269,070	1,158,046
Operating profit	2,606,351	1,721,657
Non-operating income
Interest income	2,658	8,754
Other	2,014	1,751
Total non-operating income	4,672	10,506
Non-operating expenses
Donations	2,550	40,025
Other	0	0
Total non-operating expenses	2,550	40,025
Ordinary profit	2,608,474	1,692,138
Extraordinary income
Gain on sale of investment securities	10,000	-
Total extraordinary income	10,000	-
Extraordinary losses
Impairment losses	-	48,283
Loss on retirement of non-current assets	4,517	19,841
Total extraordinary losses	4,517	68,124
Profit before income taxes	2,613,957	1,624,014
Income taxes - current	835,725	516,412
Income taxes - deferred	(6,702)	(20)
Total income taxes	829,023	516,391
Profit	1,784,933	1,107,622
Profit attributable to non-controlling interests	2,639	-
Profit attributable to owners of parent	1,782,293	1,107,622

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Consolidated Statements of Comprehensive Income

(Thousand yen)

	For the fiscal year ended March 31, 2025	For the fiscal year ended March 31, 2026
Profit	1,784,933	1,107,622
Comprehensive income	1,784,933	1,107,622
Comprehensive income attributable to
Comprehensive income attributable to owners of parent	1,782,293	1,107,622
Comprehensive income attributable to non-controlling interests	2,639	-

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(3) Consolidated Statements of Changes in Equity

Fiscal year ended March 31, 2025 (from April 1, 2024 to March 31, 2025)

(Thousand yen)

	Shareholders' equity
	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
Balance at beginning of period	263,778	253,298	5,032,832	(95,199)	5,454,709
Changes during period
Profit attributable to owners of parent	-	-	1,782,293	-	1,782,293
Dividends of surplus	-	-	(743,371)	-	(743,371)
Purchase of treasury shares	-	-	-	-	-
Purchase of shares of consolidated subsidiaries	-	(110,842)	-	-	(110,842)
Net changes in items other than shareholders' equity	-	-	-	-	-
Total changes during period	-	(110,842)	1,038,922	-	928,079
Balance at end of period	263,778	142,455	6,071,755	(95,199)	6,382,788
	Non-controlling interests	Total net assets
---	---	---
Balance at beginning of period	113,984	5,568,693
Changes during period
Profit attributable to owners of parent	-	1,782,293
Dividends of surplus	-	(743,371)
Purchase of treasury shares	-	-
Purchase of shares of consolidated subsidiaries	-	(110,842)
Net changes in items other than shareholders' equity	(113,984)	(113,984)
Total changes during period	(113,984)	814,094
Balance at end of period	-	6,382,788

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Fiscal year ended March 31, 2026 (April 1, 2025 to March 31, 2026)

(Thousand yen)

	Shareholders' equity
	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
Balance at beginning of period	263,778	142,455	6,071,755	(95,199)	6,382,788
Changes during period
Profit attributable to owners of parent	-	-	1,107,622	-	1,107,622
Dividends of surplus	-	-	(810,950)	-	(810,950)
Purchase of treasury shares	-	-	-	-	-
Purchase of shares of consolidated subsidiaries	-	-	-	-	-
Net changes in items other than shareholders' equity	-	-	-	-	-
Total changes during period	-	-	296,671	-	296,671
Balance at end of period	263,778	142,455	6,368,426	(95,199)	6,679,460
	Non-controlling interests	Total net assets
---	---	---
Balance at beginning of period	-	6,382,788
Changes during period
Profit attributable to owners of parent	-	1,107,622
Dividends of surplus	-	(810,950)
Purchase of treasury shares	-	-
Purchase of shares of consolidated subsidiaries	-	-
Net changes in items other than shareholders' equity	-	-
Total changes during period	-	296,671
Balance at end of period	-	6,679,460

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(4) Consolidated Statements of Cash Flows
(Thousand yen)

	For the fiscal year ended March 31, 2025	For the fiscal year ended March 31, 2026
Cash flows from operating activities
Profit before income taxes	2,613,957	1,624,014
Depreciation	50,085	62,440
Amortization of goodwill	33,559	33,559
Impairment losses	-	48,283
Interest income	(2,658)	(8,754)
Loss (gain) on sale of investment securities	(10,000)	-
Loss on retirement of non-current assets	4,517	19,841
Decrease (increase) in trade receivables	20,429	167,635
(Decrease) increase in work in process	16,437	(57,426)
Decrease (increase) in prepaid expenses	9,591	(127,410)
Increase (decrease) in trade payables	78,187	19,213
Increase (decrease) in accounts payable - other	(15,521)	(38,194)
Increase (decrease) in accrued expenses	(4,161)	4,837
Increase (decrease) in advances received	10,557	(17,160)
Increase (decrease) in accrued consumption taxes	(14,671)	(77,618)
Other, net	11,211	(10,499)
Subtotal	2,801,519	1,642,761
Interest and dividends received	2,658	8,754
Income taxes paid	(809,615)	(876,256)
Net cash provided by (used in) operating activities	1,994,562	775,258
Cash flows from investing activities
Purchase of property, plant and equipment	(234,458)	(503)
Purchase of intangible assets	(7,912)	(25,745)
Proceeds from sale of investment securities	110,000	-
Payments of leasehold and guarantee deposits	(7,309)	-
Proceeds from refund of leasehold and guarantee deposits	3,300	-
Other, net	(2,432)	2,700
Net cash provided by (used in) investing activities	(138,812)	(23,549)
Cash flows from financing activities
Purchase of shares of subsidiaries not resulting in change in scope of consolidation	(227,467)	-
Dividends paid	(742,978)	(811,509)
Net cash provided by (used in) financing activities	(970,446)	(811,509)
Net increase (decrease) in cash and cash equivalents	885,302	(59,800)
Cash and cash equivalents at beginning of period	4,461,238	5,346,541
Cash and cash equivalents at end of period	5,346,541	5,286,741

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(5) Notes to Consolidated Financial Statements
(Notes on going concern assumption)
Not applicable.

(Segment information, etc.)

[Segment information]
As the Group operates a single segment, the “WEB Marketing Business,” this information is omitted.

11

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(Per share information)

	For the fiscal year ended March 31, 2025	For the fiscal year ended March 31, 2026
Net assets per share	¥472.24	¥494.19
Basic earnings per share	¥131.87	¥81.95

(Notes) 1. Diluted earnings per share are not stated as there are no dilutive shares.
2. The basis for calculating basic earnings per share is as follows.

	For the fiscal year ended March 31, 2025	For the fiscal year ended March 31, 2026
Basic earnings per share
Profit attributable to owners of parent (Thousands of yen)	1,782,293	1,107,622
Amount not attributable to common shareholders (Thousands of yen)	-	-
Profit attributable to owners of parent relating to common shares (Thousands of yen)	1,782,293	1,107,622
Average number of common shares outstanding during the period (Shares)	13,515,846	13,515,846

(Significant subsequent events)

Not applicable.