Mitsuru Shomon
Executive Officer & Executive GM of Corporate Management Unit

My name is Shomon, and I will now present the financial results for the first quarter of the fiscal year ending March 2027. First, please turn to Page 1. This page summarizes the key points of our earnings announcement regarding the overview. Revenue increased due to a recovery in musical instrument sales and a weakening yen. Despite higher procurement costs, core operating profit increased, driven by an improved product mix resulting from growth in digital musical instruments, price optimization and favorable exchange rates.

Regarding our full year earnings outlook, while uncertainties remain, such as rising procurement costs and the situation in the Middle East, we are maintaining our previous forecast for May 2026 for revenue and core operating profit, supported by further price optimization efforts and a weaker yen. However, we are revising our net profit forecast upward from the previous estimate following the refund of U.S. tariffs. Please turn to the next page.

The performance summary is next. Please turn to the next page, Page 3. This is the business performance summary. Revenue was JPY 116.3 billion, an increase of JPY 12.4 billion from the previous year, representing a 12% rise. Excluding the impact of exchange rates, revenue increased by 2.9% from the previous year. Core operating profit was JPY 9.3 billion, an increase of JPY 4.6 billion from the previous year or 97.7%.

Net profit was JPY 10.7 billion. This includes JPY 4.3 billion in other income representing U.S. tariff refunds that have already been completed or finalized, resulting in an increase of JPY 8.3 billion from the previous year, a 348.8% rise or

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Ching Ching Koh
Head of Group Brand & Communications

All right. Good morning, everyone. Welcome to OCBC’s Second Quarter First Half 2026 Results Briefing. On our panel this morning, we have our Group CEO, Mr. Tan Teck Long; and our Group CFO, Ms. Goh Chin Yee. To their left and right, I shall start from Jason, Jason Moo, our CEO of Bank of Singapore; Mr. Sunny Quek, the Head of Global Consumer Financial Services. And then right to the other end, we have Mr. Greg Hingston joining us from Great Eastern, the CEO of Great Eastern. And last but not least, we have Mr. Kenneth Lai, our Head of Global Markets.

Chin Yee will start with the presentation, and thereafter, we will have Teck Long sharing with us some of his thoughts before we take Q&A. Chin Yee, please.

Chin Yee Goh
Group Chief Financial Officer

Good morning to all. Welcome, and thank you for joining OCBC’s First Half 2026 Results Briefing. OCBC delivered a record group net

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of PFE, T either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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