Nifco : Summary of Consolidated Financial Results for Fiscal Year Ending March 31, 2023 -Highlight-

Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)	May 12, 2023
Stock Exchange: Prime Market; Code Number: 7988
President & COO: Masaharu Shibao
Inquiries to: Toshiki Yauchi, Director, Senior Executive Managing Officer & CFO ([phone])
Ordinary general meeting of shareholders to be held on: June 22, 2023
Dividend disbursement to be started on: June 23, 2023
Yuka Shoken Hokokusho to be submitted on: June 22, 2023
		Highlight

Summary of Consolidated Financial Results

for Fiscal Year Ending March 31, 2023

									(These figures are rounded down to the nearest million yen.)
1. Consolidated Financial Results for FY2022 (April 1, 2022 to March 31, 2023)
(1) Consolidated financial results							(The percentages denote year-on-year change.)
		Net sales			Operating profit				Ordinary profit				Profit attributable to
											owners of parent
	Million yen		%	Million yen	%			Million yen		%		Million yen		%
FY2022		321,771		13.4	34,439	12.8				37,876		12.7			21,170		(7.8)
FY2021		283,777		10.8	30,540	10.3				33,602		13.8			22,959		24.8
Note: Comprehensive income:	33,527 million yen in FY2022(1.1%),	33,180 million yen in FY2021(89.5%)
	Basic earning per		Diluted earning per		Return on equity		Ordinary profit /		Operating profit /
		share			share			(ROE)			Total assets		Net sales
		Yen			Yen			%					%				%
FY2022		211.28			―						10.0				10.9				10.7
FY2021		227.27			―						12.3				10.5				10.8
Note: Diluted profit	attributable to owners	of parent per share of FY2022 and FY2021 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
FY2022		359,150		226,127							62.2						2,237.06
FY2021		333,068		200,875							59.5						1,978.36
Reference: Equity	capital:	223,551 million yen in FY2022,	198,175 million yen in FY2021
(3) Consolidated cash flows
	Cash flows from	Cash flows from				Cash flows from		Cash and cash equivalents
	operating activities	investing activities		financing activities				at end of the period
		Million yen			Million yen				Million yen					Million yen
FY2022				37,261		(11,530)				(17,418)						122,233
FY2021				31,743		(9,479)				(13,516)						109,992

2. Dividends

		Dividend per share				Total amount	Payout ratio		Ratio of dividends
	At end of	At end of	At end of	At end of	FY		of dividends	(consolidated		to net assets
	first quarter	second quarter	third quarter	FY		(annual)	basis)		(consolidated basis)
	Yen	Yen	Yen	Yen	Yen		Million yen	%	%
FY2021	―	31.00	―	31.00	62.00	6,240	27.3	3.3
FY2022	―	31.00	―	33.00	64.00	6,406	30.3	3.0
FY2023	―	32.00	―	32.00	64.00			30.0
(forecast)

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 yen		%	Million yen	%	Million yen	%		Million yen	%	Yen
FY2023	322,500		0.2	35,500	3.1	33,500	(11.6)		21,200	0.1	212.15

4. Others

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1. Changes in principal subsidiaries during the fiscal year (changes in specific subsidiaries, which involve changes in the scope of consolidation): Yes

New consolidation: 1 company (company name): Nifco Europe GmbH Exclusion: - company (company name): -

Nifco Europe GmbH, a wholly-owned subsidiary of the Company, was newly established in December 2022.

1. 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 FY2022; 107,508,954 in FY2021
   2. Number of treasury stocks at end of the period: 7,577,913 in FY2022; 7,337,418 in FY2021
   3. Average number of shares outstanding during the period: 100,198,315 in FY2022; 101,023,594 in FY2021

*This financial summary is not subject to audit procedures based on the Financial Instruments and Exchange Act. At the time of this disclosure, the audit procedures for the consolidated financial statements have not been completed.

• 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 FY2021 (April 1, 2021 to March 31, 2022)		(Unit: Millions of yen)
		Reportable segments		Adjustment	Amount reported in
	Industrial plastic parts	Bedding & furniture	Total	consolidated
	& components		financial statements
Net sales and segment profit (loss)
Net sales
(1) Net sales to external customers	254,044	29,732	283,777	-	283,777
(2) Intersegment sales or transfers	-	0	0	(0)	-
Total	254,044	29,732	283,777	(0)	283,777
Segment profit (loss)	30,157	5,564	35,722	(5,182)	30,540

- For FY2022 (April 1, 2022 to March 31, 2023)		(Unit: Millions of yen)
		Reportable segments		Adjustment	Amount reported in
	Industrial plastic parts	Bedding & furniture	Total	consolidated
	& components		financial statements
Net sales and segment profit (loss)
Net sales
(1) Net sales to external customers	288,734	33,037	321,771	-	321,771
(2) Intersegment sales or transfers	-	0	0	(0)	-
Total	288,734	33,037	321,771	(0)	321,771
Segment profit (loss)	34,050	5,885	39,936	(5,496)	34,439

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