Nichidai : Financial Results

NICHIDAI	CORPORATION
Summary of Financial Results for the Ended March 31, 2023
	May. 1, 2023
Company name: NICHIDAI CORPORATION	Listed Stock Exchange: Tokyo Securities Exchange
Code number: 6467	(URL https://www.nichidai.jp)

Company Representative: Naoki Ito, President & Corporate Officer

Contact Information: Takayoshi Yamane, Corporate officer Headquarters General Manager TEL [phone]

Annual shareholders'meeting: June 23, 2023
Reporting date of financial statements: June 26, 2023	Commencement date of dividend payment: June 26, 2023
	(Rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Year Ended March 31, 2023 (FromApril 1, 2022 to March 31, 2023)

(1) Consolidated Operating Results (Total)

(% =Year-on-year change)

Net sales

Operating Income

Ordinary Income

Net income Attributable

to Owners of the Parent

11.8

217

264

△484

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

FY2023

10,847

13.7

△202

million -

△65

-

-

△

70

-

FY2022

12,301

△

△619

(Attn.) Comprehensive

income

FY2023

yen (

- ％)

FY2022

△640million yen (

％)

EPS

Adjusted EPS

Return on

Ratio of ordinary

Ratio of operating

income to total

Equity

income to net sales

assets

Yen

Sen

Yen Sen

％

％

％

FY2023

△53

55

―

△4.7

△0.4

△ .9

△

―

△5.8

1.7

1.8

FY2022

68

43

1

(Ref.) Gain or loss on investment by equity

method

FY2023

－ million yen

FY2022 － million yen

(2) Consolidated Financial Position

TotalAssets

NetAssets

Shareholders' Equity

BPS

Ratio

Millions ofYen

Millions ofYen

％

Yen

Sen

FY2023

15,374

11,301

66.0

1,121

18

FY2022

15,327

11,439

67.6

1,144

98

(Ref.) Shareholders'Equity

FY2023

10,148

million yen

FY2022

10,363 million yen

(3) Consolidated Statements of Cash Flows

Cash & Cash

Operating Activities

Investing Activities

Financing Activities

Equivalents at the end of

The period

Millions of Yen

Millions of Yen

Millions of Yen

Millions of Yen

FY2023

208

△467

89

3,800

FY2022

699

△586

504

3,767

－1－

2. Dividends

Dividends per Share

Total

Payout Ratio

Dividend on

End of

End of 1st

End of 3rd

Year End

FullYear

Dividends

Equity Ratio

Interim

(Consolidated)

Quarter

Quarter

(Full Year)

(Consolidated)

Period

Yen Sen

Yen

Sen

Yen Sen

Yen

Sen

Yen

Sen

Millions ofYen

％

％

FY2022

―

5

00

―

3

00

8

00

72

-

0.7

FY2023

―

4

00

―

2

00

6

00

54

-

0.5

FY2024

―

4

00

―

4

00

8

00

62.9

（Forecast）

3. Consolidated Forecast for the Year Ending March 2024(From April 1, 2023 to March 31, 2024)

(% = indicates changes in net sales, operating income, etc. compared with preceding same period.)

	Net sales		Operating Income		Ordinary Income	Net incomeAttributable	EPS
									to Owners of the Parent
	Millions ofYen		％	Millions ofYen		％	Millions ofYen	％	Millions ofYen	％	Yen	Sen
Ended Sept.30,2023	5,620		7.1	△80		-	△75	-	△100	-	△11	05
Full Year	11,900		9.7	170		-	175	-	115	-	12	71

※Notes

1. Changes of important subsidiaries during the period (changes in specified subsidiaries that involve changes in the scope of consolidation) N/A
2. Changes in accounting policy, changes in accounting estimate and restatement associated with preparing the consolidated financial results (to be stated in the changes of important items that form the basis of the consolidated

financial results)

① Changes resulting from revision of accounting policy YES

② Changes other than ① N/A

③ Changes in accounting estimate N/A

• Restatement N/A

(3) Number of outstanding shares (ordinary shares)

• Number of outstanding shares at the end of the term (including treasury stocks)

FY2023 9,053,300 shares

FY2022 9,053,300 shares

• Number of treasury stocks at the end of the term

FY2023 2,066 shares

FY2022 2,066shares

• Average number of outstanding shares during the period

FY2023 9,051,234 shares

FY2022 9,051,234shares

1. Individual Financial Results for the Year Ended March 31, 2023 (FromApril 1, 2022 to March 31, 2023)

(1) Individual Operating Results (Total)

(% =Year-on-year change)

Net sales

Operating Income

Ordinary Income

Net income Attributable

to Owners of the Parent

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

FY2023

6,457

△10.1

△373

-

△162

-

△457

-

FY2022

7,185

7.8

△202

-

△49

-

△511

-

EPS

Adjusted EPS

△50

Yen

Sen

Yen Sen

FY2023

57

―

FY2022

△56

55

―

－2－

(2) Individual Financial Position

			TotalAssets	NetAssets		Shareholders' Equity		BPS
				Ratio
			Millions ofYen	Millions ofYen		％		Yen	Sen
	FY2023		9,813		6,280		64.0		693	93
	FY2022		10,032		6,801		67.8		751	50
	(Ref.) Shareholders'Equity		FY2023	6,280 million yen	FY2022	6,801 million yen

※This summary of consolidated financial results is not subject to audit.

※Explanation regarding proper use of the projected financial results and other notes

The future prospects of financial results etc. described in this material have been prepared based on the currently available information and certain assumptions assessed to be reasonable, and do not represent promise that the Company will attain these performance figures.Accordingly, actual figures may differ materially from those projected due to various factors.

1. Overview of operating results

(1) Overview of operating results for the fiscal year under review

In the Japanese automotive industry, which is a major customer industry for our company group, there has been a recovery from the impact of the COVID-19 pandemic. However, there have been challenges due to the surge in raw material and energy prices caused by the Ukraine issue, as well as the semiconductor supply shortage, which has resulted in production instability. As a result, the production volume of automobiles has stagnated more than expected.

While there are signs of recovery from the automotive production stagnation, the global economy continues to face uncertainties such as economic downturn and persistent high prices of raw materials and energy. In the Net Shape business, the impact of parts supply shortages and production instability in the automotive industry has resulted in lower-than-planned sales revenue for molds. Sales of forged products for car air conditioning systems have also been sluggish. As a result, the sales revenue of the Net Shape business amounted to 5,806 million yen (a decrease of 6.0% compared to the same period of the previous year).

In the Assembly business, the production of turbocharger parts has been sluggish due to the impact of the semiconductor supply shortage, resulting in a decrease in sales revenue. The sales revenue of the Assembly business amounted to 2,534 million yen (a decrease of 31.7% compared to the same period of the previous year).

On the other hand, the Filter business has maintained stable sales revenue throughout the year and achieved sales revenue higher than the previous period. The sales revenue of the Filter business amounted to 2,506 million yen (an increase of 3.8% compared to the same period of the previous year).

As a result, the consolidated sales revenue amounted to 10,847 million yen (a decrease of 11.8% compared to the same period of the previous year).

In terms of profitability, while the Filter business has shown stable performance, the Net Shape and Assembly businesses, which are closely related to the automotive industry, have experienced sluggish sales revenue, resulting in an operating loss of 22 million yen (compared to an operating profit of 217 million yen in the same period of the previous year) and an ordinary loss of 65 million yen (compared to an ordinary profit of 264 million yen in the same period of the previous year). In addition, impairment losses were recognized for fixed assets in the Net Shape business, resulting in a net loss attributable to the parent company shareholders of 480 million yen (compared to a net loss attributable to the parent company shareholders of 610 million yen in the same period of the previous year).

－3－