Nifco : Summary of Consolidated Financial Results for First Half of Fiscal Year Ending March 31, 2021 -Highlight-

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)	October 28, 2020
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 11, 2020
Dividend disbursement to be started on: November 30, 2020

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Summary of Consolidated Financial Results

for First Half of Fiscal Year Ending March 31, 2021

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

1. Consolidated Financial Results for First Half of FY2020 (April 1 to September 30, 2020)

(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 FY2020	107,455	-26.1	6,528	-56.9		6,612	-54.8
First Half FY2019	145,315	4.2	15,139	4.1		14,638	-3.7
Note:	Comprehensive income: -932 million yen in First Half FY2020 (-113.4%),	6,968 million yen in First Half FY2019 (7.5%)
			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 FY2020	3,137	-67.7		30.85			―
First Half FY2019	9,699	-17.3		94.06			90.66
Note:	Diluted profit attributable to owners of parent per share of First Half FY2020 is 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 FY2020		284,594	162,907			56.6	1,585.77
	FY2019		304,184	168,786			54.8	1,630.57

Reference: Equity capital: 161,034 million yen in First Half FY2020, 166,658 million yen in FY2019

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
FY2019		―	31.00	―	31.00	62.00
FY2020		―	25.00
FY2020 (forecast)				―	25.00	50.00
Note:	Revision of the latest forecasts: Yes

3. Forecasts for FY2020 (April 1, 2020 to March 31, 2021)	(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
FY2020	240,000	-16.7	18,500	-37.8	18,200	-36.7	11,300	-38.3	111.20
Note:	Revision of the latest forecasts: Yes

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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):	Yes
3)	Changes in accounting estimates:	Yes
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 FY2020; 107,508,954 in FY2019.
   2. Number of treasury stocks at end of the period: 5,959,433 in First Half FY2020; 5,300,563 in FY2019.
   3. Average number of shares outstanding during the period: 101,675,576 in First Half FY2020; 103,127,197 in First Half FY2019.

*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 FY2019 (April 1 to September 30, 2019)		(Unit: Millions of yen)
		Reportable segments		Elimination
	Industrial plastic parts	Bedding & furniture	Total	& corporate	Consolidated figures
	& components	expenses
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	132,183	13,131	145,315	-	145,315
(2) Inter-segment sales	-	-	-	-	-
Total	132,183	13,131	145,315	-	145,315
Segment profit (loss)	15,762	2,062	17,825	(2,686)	15,139

- For the First Half of FY2020 (April 1 to September 30, 2020)		(Unit: Millions of yen)
		Reportable segments		Elimination
	Industrial plastic parts	Bedding & furniture	Total	& corporate	Consolidated figures
	& components	expenses
Net sales and segment profit (loss)
Net sales
(1) Sales to customers	96,100	11,354	107,455	-	107,455
(2) Inter-segment sales	-	-	-	-	-
Total	96,100	11,354	107,455	-	107,455
Segment profit (loss)	7,671	1,282	8,954	(2,425)	6,528

Since the first quarter of FY2020, the segment classification "Others" has been abolished. Purchasing on the accounts receivable and various service operations were consolidated into the "Industrial plastic parts & components" segment.

The segment information for the first half of FY 2019 has been prepared based on this new segmentation.

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