Nippon Information Development : Consolidated Financial Results for the Fiscal Year Ended March 31,2023

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

May 12, 2023

	Consolidated Financial Results
	for the Fiscal Year Ended March 31, 2023
	(Under Japanese GAAP)
Company name:	NID Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	2349
URL:	http:// www.nid.co.jp/
Representative:	Shuntaro Komori, President
Inquiries:	Hiroshi Kosuge, Director,Corporate Design Manager, Finance Manager
Telephone:	[phone]

Scheduled date of annual general meeting of shareholders:	June 27, 2023
Scheduled date to commence dividend payments:	June 28, 2023
Scheduled date to file annual securities report:	June 28, 2023
Preparation of supplementary material on financial results:	Yes
Holding of financial results briefing:	Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results				(Percentages indicate year-on-year changes.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
			owners of parent
	Fiscal year ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
	March 31, 2023	20,449		12.0	2,544	14.3	2,742	11.2	2,210	35.5
	March 31, 2022	18,251		3.2	2,226	19.0	2,466	15.4	1,631	19.6

Note: Comprehensive income	For the fiscal year ended March 31, 2023:	¥2,065 million	[34.1%]
			For the fiscal year ended March 31, 2022:	¥1,539 million	[△16.0%]
		Basic earnings	Diluted earnings	Return on equity	Ratio of ordinary	Ratio of operating
		per share	per share	profit to total assets	profit to net sales
	Fiscal year ended		Yen	Yen		%		%	%
	March 31, 2023		199.03	－		13.0		11.9	12.4
	March 31, 2022		145.66	－		10.4		11.6	12.2

(2) Consolidated financial position

		Total assets		Net assets	Equity-to-asset ratio	Net assets per share
	As of	Millions of yen	Millions of yen	%	Yen
	March 31, 2023	24,020		17,911	74.6	1,612.81
	March 31, 2022	21,904		16,101	73.5	1,449.81
Reference: Equity
	As of March 31, 2023:	¥17,911 million
	As of March 31, 2022:	¥16,101 million

(3) Consolidated cash flows

	Cash flows from	Cash flows from	Cash flows from	Cash and cash
	equivalents at end of
	operating activities	investing activities	financing activities
	period
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
March 31, 2023	2,086	△1,214	△267	12,387
March 31, 2022	1,650	△318	△617	11,783

2. Cash dividends

		Annual dividends per share		Total cash		Ratio of
						Payout ratio	dividends to
	First	Second	Third	Fiscal		dividends
	Total	(Consolidated)	net assets
	quarter-end	quarter-end	quarter-end	year-end	(Total)
			(Consolidated)
	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
Fiscal year ended	－	－	－	23.00	23.00	255	15.7	1.7
March 31, 2022
Fiscal year ended	－	－	－	26.00	26.00	288	13.1	1.2
March 31, 2023
Fiscal year ending	－	－	－	27.00	27.00		17.0
March 31, 2024
(Forecast)

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

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Net income
		owners of parent	per share
	Million yen		%	Million yen	%	Million yen	%	Million yen	%	Yen
First half	10,040		5.9	940	△11.7	1,020	△11.8	710	△30.0	63.93
Full Year	21,000		2.7	2,400	△5.7	2,560	△6.7	1,760	△20.4	158.48

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Changes in accounting policies, changes in accounting estimates, and restatement
3. 1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
   2. Changes in accounting policies due to other reasons: None
   3. Changes in accounting estimates: None
   4. Restatement: None
4. Number of issued shares (common shares)
5. 1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2023

As of March 31, 2022

13,109,490 shares

13,109,490 shares

(ii) Number of treasury shares at the end of the period

As of March 31, 2023

As of March 31, 2022

2,003,853 shares

2,003,759 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended March 31, 2023

Fiscal year ended March 31, 2022

11,105,687 shares

11,200,936 shares

• Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
• Proper use of earnings forecasts, and other special matters
  All projections provided in this document are based on the most accurate information available at the time of this writing. However our actual results may differ from our projections due to various unforeseen reasons.

4. Consolidated Financial Statements

(1) Consolidated Balance Sheets

		(Thousands of yen)
	As of March 31, 2022	As of March 31, 2023
Assets
Current assets
Cash and deposits	11,845,184	13,049,487
Notes receivable - trade	138,825	99,824
Accounts receivable - trade	3,149,350	3,416,640
Work in process	254,149	147,453
Other	81,250	161,928
Total current assets	15,468,759	16,875,335
Non-current assets
Property, plant and equipment
Buildings and structures	400,870	411,097
Accumulated depreciation	△191,499	△217,934
Buildings and structures, net	209,370	193,163
Vehicles	35,602	36,156
Accumulated depreciation	△21,713	△24,343
Vehicles, net	13,888	11,812
Tools, furniture and fixtures	312,468	322,560
Accumulated depreciation	△221,531	△243,152
Tools, furniture and fixtures, net	90,937	79,408
Land	20,179	20,179
Leased assets	68,813	75,080
Accumulated depreciation	△51,420	△50,826
Leased assets, net	17,393	24,254
Total property, plant and equipment	351,770	328,817
Intangible assets
Goodwill	－	231,135
Software	140,263	102,691
Other	21,327	12,082
Total intangible assets	161,591	345,908
Investments and other assets
Investment securities	4,560,544	4,992,906
Deferred tax assets	871,742	968,446
Guarantee deposits	345,739	354,127
Other	144,227	154,465
Total investments and other assets	5,922,253	6,469,944
Total non-current assets	6,435,615	7,144,670
Total assets	21,904,375	24,020,006

					(Thousands of yen)
				As of March 31, 2022	As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade		469,479	587,392
Accounts payable - other		465,463	350,464
Income taxes payable			506,938	568,346
Accrued consumption taxes		217,248	308,823
Advances received			684	1,155
Provision for bonuses			922,888	931,757
Other				218,401	254,655
Total current liabilities		2,801,102	3,002,594
Non-current liabilities
Retirement benefit liability		2,448,765	2,484,080
Provision	for retirement	benefits for	496,750	556,987
directors (and other officers)
Asset retirement obligations		48,285	49,109
Other				8,294	16,001
Total non-current liabilities		3,002,095	3,106,178
Total liabilities			5,803,198	6,108,773
Net assets
Shareholders' equity
Share capital			653,352	653,352
Capital surplus			488,675	488,675
Retained earnings			15,805,353	17,760,317
Treasury shares			△1,587,655	△1,587,797
Total shareholders' equity		15,359,725	17,314,547
Accumulated other comprehensive income
Valuation	difference	on available-for-sale	728,413	584,855
securities
Remeasurements of defined benefit plans	13,037	11,830
Total accumulated	other	comprehensive	741,451	596,685
income
Total net assets			16,101,177	17,911,232
Total liabilities and net assets		21,904,375	24,020,006