Nifco : Summary of Consolidated Financial Results for First Half of Fisc al Year Ending March 31, 2024 - Highlight -

29,335 million yen in First Half FY2022 (56.8%)

Ordinary profit

Million yen

25,027

20,345

(The percentages denote year-on-yearchange.)

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)	October 31, 2023
Stock Exchange: Prime Market; Code Number: 7988
President & CEO: Masaharu Shibao
Inquiries to: Toshiki Yauchi, Director, Senior Executive Managing Officer & CFO ([phone])
Shihanki-Hokokusho to be submitted on: November 10, 2023
Dividend disbursement to be started on: November 27, 2023
Preparation of supplementary reference materials for financial results: Yes
Holding financial results briefing: Yes
		Highlight

Summary of Consolidated Financial Results

for First Half of Fiscal Year Ending March 31, 2024

(These figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for First Half of FY2023 (April 1 to September 30, 2023)

(1) Consolidated financial results

		Net sales		Operating profit
		Million yen		%	Million yen		%
First Half FY2023	178,835		20.5	20,682		35.9
First Half FY2022	148,350		6.2	15,217		-5.3
Note:	Comprehensive income: 29,895 million yen in First Half FY2023 (1.9%),

%

23.0

20.0

	Profit attributable to	Basic earning per share	Diluted earning per share
	owners of parent
	Million yen		%	Yen	Yen
First Half FY2023	17,335		25.3	173.71	―
First Half FY2022	13,840		16.4	138.10	―

Note: Diluted earning per share of First Half FY2023 and First Half FY2022 are not shown in the above table, as there are no potential common shares with dilution effect.

(2) Consolidated financial position

		Total assets	Net assets	Net assets ratio	Net assets per share
		Million yen	Million yen	%	Yen
First Half FY2023		378,400	252,121	65.9	2,496.47
FY2022		359,150	226,127	62.2	2,237.06
Reference: Equity capital:	249,196 million yen in First Half FY2023,	223,551 million yen in FY2022

2. Dividends

							Dividend per share
		At end of first			At end of second		At end of third		At end of FY		FY
		quarter			quarter		quarter
		Yen			Yen		Yen		Yen		Yen
FY2022		―	31.00		―	33.00	64.00
FY2023		―	32.00
FY2023 (forecast)							―	32.00	64.00
Note: Revision of the latest forecasts: None

3. Forecasts for FY2023 (April 1, 2023 to March 31, 2024)

(The percentages denote year-on-year change.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

Basic earning per

owners of parent

share

Million

%

Million

%

Million

%

Million yen

%

Yen

yen

yen

yen

FY2023

343,000

6.6

38,000

10.3

38,300

1.1

23,500

11.0

235.59

Note:

Revision of the latest forecasts: None

- 1 -

4. Others

1. Changes in principal subsidiaries during the fiscal year (changes in specific subsidiaries, which involve changes in the scope of consolidation): None

New consolidation: - company (company name): -

Exclusion: ‐ company (company name): －

1. Adoption of specific accounting policies for quarterly consolidated financial statement: Yes
2. Changes in the principles and procedures of accounting concerning the preparation of consolidated financial statements and in the methods of presentation, etc. (stated in "Changes in Significant Accounting Policies for Preparing Consolidated Financial

Statements")

1)	Changes following the revision of accounting standards, etc.:	None
2)	Changes other than 1):	None
3)	Changes in accounting estimates:	None
4)	Retrospective restatement:	None

1. Number of shares outstanding (common stocks)
2. 1. Number of shares outstanding at end of the period (including treasury stocks)

2Q of FY2023

100,257,053

FY2022

107,508,954

2) Number of treasury stocks at end of the period

2Q of FY2023

437,549

FY2022

7,577,913

3) Average number of shares outstanding during the period

2Q of FY2023

99,797,364

2Q of FY2022

100,215,758

*Quarterly financial results reports are exempt from quarterly review conducted by certificated public accountants or an audit corporation.

• Proper use of forecasts and other special instructions

Forward-looking statements or projections included in this document, including earnings projections, are based on currently available information and certain premises that are judged to be rational at the time of this writing. Actual results may differ greatly from the forecast figures depending on various factors.

(Consolidated Financial Statements)

Segment Information
[Business segment information]
- For the First Half of FY2022 (April 1 to September 30, 2022)		(Unit: Millions of yen)
		Reportable segments			Amount reported in
	Industrial plastic parts	Bedding & furniture	Total	Adjustment	consolidated
	& components		financial statements
Net sales and segment profit (loss)
Net sales
(1) Net sales to external customers	133,258	15,091	148,350	-	148,350
(2) Intersegment sales or transfers	-	0	0	-0	-
Total	133,258	15,091	148,350	-0	148,350
Segment profit (loss)	15,144	2,476	17,620	-2,402	15,217

- For the First Half of FY2023 (April 1 to September 30, 2023)		(Unit: Millions of yen)
		Reportable segments			Amount reported in
	Industrial plastic parts	Bedding & furniture	Total	Adjustment	consolidated
	& components		financial statements
Net sales and segment profit (loss)
Net sales
(1) Net sales to external customers	161,820	17,015	178,835	-	178,835
(2) Intersegment sales or transfers	-	-	-	-	-
Total	161,820	17,015	178,835	-	178,835
Segment profit (loss)	20,277	2,845	23,122	-2,440	20,682

- 2 -