Nippon Information Development : Consolidated Financial Results for the Six Months Ended September 30, 2022

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.

November 04, 2022

	Consolidated Financial Results
	for the Six Months Ended September 30, 2022
	(Under Japanese GAAP)
Company name:	NID Co., Ltd.
Listing:	Tokyo Stock Exchange
Securities code:	2349
URL:	https://www.nid.co.jp/
Representative:	Shuntaro Komori, President
Inquiries:	Hiroshi Kosuge, Director,Corporate Design Manager, Finance Manager
Telephone:	81-8-3-6221-6811

Scheduled date to file quarterly securities report:	November 04, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:	Yes

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

1. Consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)

(1) Consolidated operating results (cumulative)

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Six months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

September 30,2022

9,478

10.6

1,064

12.6

1,156

5.7

1,014

40.9

September 30,2021

8,570

△0.8

945

22.9

1,094

16.8

720

15.7

Note: Comprehensive income

For the six months ended September 30, 2022 :

¥976 million

[34.4%]

For the six months ended September 30, 2021 :

¥726 million

[△5.3%]

Basic earnings

Diluted earnings

per share

per share

Six months ended

Yen

Yen

September 30,2022

91.39

－

September 30,2021

63.78

－

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset ratio

As of

Millions of yen

Millions of yen

%

September 30,2022

22,482

16,821

74.8

March 31,2022

21,904

16,101

73.5

Reference: Equity

As of September 30,2022:

¥16,821 million

As of March 31, 2022:

¥16,101 million

2. Cash dividends

			Annual dividends per share
	First quarter-end		Second quarter-end	Third quarter-end		Fiscal year-end	Total
	Yen		Yen	Yen		Yen	Yen
Fiscal year ended	－		－	－		23.00	23.00
March 31, 2022
Fiscal year ending	－		－
March 31, 2023
Fiscal year ending
March 31, 2023				－		23.00	23.00
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31,2023 (From April 1, 2022 to March 31, 2023)

	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
Full Year	18,700		2.5	2,100	△5.7	2,250	△8.8	1,540	△5.6	138.67

Note : Revisions to the latest projected consolidated results : None

* Notes

1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
2. Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes
3. Changes in accounting policies, changes in accounting estimates, and restatement
4. 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
5. Number of issued shares (common shares)
6. 1. Total number of issued shares at the end of the period (including treasury shares)

As of September 30,2022	13,109,490 shares
As of March 31, 2022	13,109,490 shares

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

As of September 30,2022	2,003,795 shares
As of March 31, 2022	2,003,759 shares

1. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

Six months ended September 30,2022	11,105,709 shares
Six months ended September 30,2021	11,295,621 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

				(Thousand yen)
			As of March 31, 2022	As of September 30, 2022
	Assets
	Current assets
	Cash and deposits		11,845,184	12,471,995
	Notes receivable - trade	138,825	96,949
	Accounts receivable - trade		3,149,350	2,745,864
	Work in process	254,149	463,398
	Other		81,250	92,891
	Total current assets	15,468,759	15,871,098
	Non-current assets
	Property, plant and equipment	351,770	341,414
	Intangible assets		161,591	147,935
	Investments and other assets
	Investment securities		4,560,544	4,738,440
	Deferred tax assets	871,742	892,516
	Guarantee deposits		345,739	345,626
	Other	144,227	145,365
	Total investments and other assets		5,922,253	6,121,948
	Total non-current assets	6,435,615	6,611,298
	Total assets		21,904,375	22,482,396

							(Thousand yen)
				As of March 31, 2022		As of September 30, 2022
	Liabilities
	Current liabilities
	Accounts payable - trade			469,479			499,712
	Accounts payable - other	465,463		285,542
	Income taxes payable			506,938			447,567
	Accrued consumption taxes	217,248		191,428
	Advances received			684			371
	Provision for bonuses	922,888		942,929
	Other			218,401			275,038
	Total current liabilities	2,801,102		2,642,589
	Non-current liabilities
	Retirement benefit liability	2,448,765		2,458,923
	Provision for retirement benefits for directors			496,750			510,300
	(and other officers)
	Asset retirement obligations	48,285		48,697
	Other			8,294			－
	Total non-current liabilities	3,002,095		3,017,920
	Total liabilities			5,803,198			5,660,510
	Net assets
	Shareholders' equity
	Share capital	653,352		653,352
	Capital surplus			488,675			488,675
	Retained earnings	15,805,353		16,564,880
	Treasury shares			△1,587,655			△1,587,708
	Total shareholders' equity	15,359,725		16,119,199
	Accumulated other comprehensive income
	Valuation difference on available-for-sale securities	728,413		686,988
	Remeasurements of defined benefit plans			13,037			15,698
	Total accumulated other comprehensive income	741,451		702,686
	Total net assets			16,101,177			16,821,886
	Total liabilities and net assets	21,904,375		22,482,396