Nifco : Summary of Consolidated Financial Results for First Half of Fiscal Year Ending March 31, 2020-Highlight-

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)	October 30, 2019
Stock Exchange: TSE 1st section; Code Number: 7988
President & CEO: Toshiyuki Yamamoto
Inquiries to: Junji Honda, Executive Managing Officer & CFO ([phone])
Shihanki-Hokokusho to be submitted on: November 8, 2019
Dividend disbursement to be started on: December 2, 2019

Highlight

Summary of Consolidated Financial Results

for First Half of Fiscal Year Ending March 31, 2020

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

1. Consolidated Financial Results for First Half of FY2019 (April 1 to September 30, 2019)

(1) Consolidated financial results

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

Net sales

Operating profit

Ordinary profit

Million yen

%

Million yen

%

Million yen

%

First Half FY2019

145,315

4.2

15,139

4.1

14,638

-3.7

First Half FY2018

139,484

6.1

14,547

-4.2

15,199

-0.7

Note:

Comprehensive income:

6,968 million yen in First Half FY2019 (7.5%),

6,481million yen in First Half FY2018 (-41.2%)

Profit attributable to

Profit attributable to owners of

Diluted profit attributable to

owners of parent

parent per share

owners of parent per share

Million yen

%

Yen

Yen

First Half FY2019

9,699

-17.3

94.06

90.66

First Half FY2018

11,729

9.7

112.59

108.57

(2) Consolidated financial position

Total assets

Net assets

Net assets ratio

Net assets per share

Million yen

Million yen

%

Yen

First Half FY2019

302,312

163,447

53.5

1,570.04

FY2018

284,842

160,690

55.7

1,538.96

Reference: Equity

capital:

161,705 million yen in First Half FY2019,

158,787 million yen in FY2018

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

FY2018

―

31.00

―

31.00

62.00

FY2019

―

31.00

FY2019 (forecast)

―

31.00

62.00

Note:

Revision of

the latest forecasts: None

3. Forecasts for FY2019 (April 1, 2019 to March 31, 2020)

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

Profit attributable to

Profit attributable

Net sales

Operating profit

Ordinary profit

to owners of

owners of parent

parent per share

Million

%

Million

%

Million

%

Million

%

Yen

yen

yen

yen

yen

FY2019

292,000

1.1

30,000

4.0

29,500

2.5

20,200

-2.7

195.80

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.:	Yes
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): 107,508,954 in First Half FY2019; 107,508,954 in FY2018.
   2. Number of treasury stocks at end of the period: 4,514,765 in First Half FY2019; 4,330,549 in FY2018.
   3. Average number of shares outstanding during the period: 103,127,197 in First Half FY2019; 104,173,941 in First Half FY2018.

*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 FY2018 (April 1 to September 30, 2018)			(Unit: Millions of yen)
	Reportable segments				Elimination
	Industrial plastic						Consolidated
	Bedding &			Others	Total	& corporate
	parts &		Total	figures
	furniture				expenses
	components
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	127,445	11,980		139,425	58	139,484	-	139,484
(2) Inter-segment sales	29	-		29	141	170	(170)	-
Total	127,474	11,980		139,454	200	139,654	(170)	139,484
Segment profit (loss)	15,639	1,748		17,387	52	17,439	(2,892)	14,547

- For the First Half of FY2019 (April 1 to September 30, 2019)			(Unit: Millions of yen)
	Reportable segments				Elimination
	Industrial plastic						Consolidated
	Bedding &			Others	Total	& corporate
	parts &		Total	figures
	furniture				expenses
	components
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	132,116	13,131		145,247	67	145,315	-	145,315
(2) Inter-segment sales	40	-		40	140	180	(180)	-
Total	132,156	13,131		145,287	208	145,495	(180)	145,315
Segment profit (loss)	15,703	2,062		17,765	52	17,817	(2,678)	15,139

- 2 -