(The percentages denote year-on-yearchange.)

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)

July 27, 2020

Stock Exchange: TSE 1st section; Code Number: 7988

President & CEO: Toshiyuki Yamamoto

Inquiries to: Junji Honda, Executive Managing Officer & CFO (+81-3-5476-4853)

Shihanki-Hokokusho to be submitted on: August 7, 2020

Highlight

Summary of Consolidated Financial Results

for First Quarter of Fiscal Year Ending March 31, 2021

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

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

(1) Consolidated financial results

Net sales

Operating profit

Ordinary profit

Million yen

%

Million yen

%

Million yen

%

First Qtr. FY2020

57,280

-20.5

4,028

-44.3

4,295

-38.1

First Qtr. FY2019

72,027

5.1

7,235

-2.3

6,934

-11.7

Note:

Comprehensive income: -2,991 million yen in First Qtr. FY2020 (-161.1%),

4,894 million yen in First Qtr. FY2019

(1233.3%)

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 Qtr. FY2020

1,825

-57.3

17.94

17.94

First Qtr. FY2019

4,271

-18.9

41.39

39.90

(2) Consolidated financial position

Total assets

Net assets

Net assets ratio

Net assets per share

Million yen

Million yen

%

Yen

First Qtr. FY2020

278,354

160,838

57.1

1,566.33

FY2019

304,184

168,786

54.8

1,630.57

Reference: Equity capital:

159,051 million yen in First Qtr. 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

FY2020 (forecast)

Note: Revision of

the latest forecast of cash dividends: None

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

224,000

-22.2

13,500

-54.6

13,800

-52.0

9,000

-50.9

88.63

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)
    1. Number of shares outstanding at end of the period (including treasury stocks): 107,508,954 in First Qtr. FY2020; 107,508,954 in FY2019.
    2. Number of treasury stocks at end of the period: 5,965,094 in First Qtr. FY2020; 5,300,563 in FY2019.
    3. Average number of shares outstanding during the period: 101,772,558 in First Qtr. FY2020; 103,179,323 in First Qtr. 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 Quarter of FY2019 (April 1 to June 30, 2019)

(Unit: Millions of yen)

Reportable segments

Elimination

Consolidated

Industrial plastic parts

Bedding &

Total

& corporate

Total

figures

& components

furniture

expenses

Net sales and segment profit (loss)

Net sales

(1) Sales to customers

66,018

6,009

72,027

72,027

-

72,027

(2) Inter-segment sales

-

-

-

-

-

-

Total

66,018

6,009

72,027

72,027

-

72,027

Segment profit (loss)

7,821

826

8,647

8,647

(1,412)

7,235

- For the First Quarter of FY2020 (April 1 to June 30, 2020)

(Unit: Millions of yen)

Reportable segments

Elimination

Consolidated

Industrial plastic parts

Bedding &

Total

& corporate

Total

figures

& components

furniture

expenses

Net sales and segment profit (loss)

Net sales

(1) Sales to customers

52,048

5,231

57,280

57,280

-

57,280

(2) Inter-segment sales

-

-

-

-

-

-

Total

52,048

5,231

57,280

57,280

-

57,280

Segment profit (loss)

4,852

341

5,193

5,193

(1,165)

4,028

In the first quarter of FY2020, the segment classification "Others" was 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 quarter of FY 2019 has been prepared based on this new segmentation.

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Nifco Inc. published this content on 27 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2020 09:35:17 UTC