Nissei Plastic Industrial : Summary of Consolidated Financial Results for the Three Months Ended June 30,2022 (Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2022 (Based on Japanese GAAP)

				August 10, 2022
Company name:	NISSEI PLASTIC INDUSTRIAL CO., LTD.
Stock exchange listing:	Tokyo, Nagoya
Stock code:	6293	URL http://www.nisseijushi.co.jp
Representative:	President & Representative Director	Hozumi Yoda
Inquiries:	Managing Director	Hiroshi Miyashita	TEL [phone]
Scheduled date to file Quarterly Securities Report:	August 10, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	Yes
Holding of quarterly financial results meeting:	No

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 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
	Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen		%
Three months ended June 30, 2022	12,058		8.3		868	47.9		1,121		73.6		809		(33.5)
Three months ended June 30, 2021	11,138		26.0		587	-		646		273.6		1,216		-
	Earnings per share		Diluted earnings per share
			Yen					Yen
Three months ended June 30, 2022			41.49					40.65
Three months ended June 30, 2021			62.38					61.22
(2) Consolidated financial position
	Total assets				Net assets	Equity ratio
	Millions of yen			Millions of yen				%
As of June 30, 2022		73,180					39,006				52.6
As of March 31, 2022		68,852					36,938				52.9
2. Cash dividends
						Annual dividends per share
	1st quarter-end	2nd quarter-end		3rd quarter-end	Fiscal year-end	Total
	Yen				Yen			Yen				Yen			Yen
Year ended March 31, 2022		-			15.00			-			15.00			30.00
Year ending March 31, 2023		-
Year ending March 31, 2023 (Forecast)					20.00			-			15.00			35.00

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit attributable to	Earnings per share
		owners of parent
Six months ending	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
23,000	10.5	1,380	12.8	1,450	21.0	900	(43.2)	46.15
September 30, 2022
Full year	51,000	4.7	3,000	16.4	3,100	5.4	1,900	(29.1)	97.42

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4. Notes

1. Changes in significant subsidiaries during the three months ended June 30, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

No

(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(4) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of June 30, 2022	22,272,000	shares	As of March 31, 2022	22,272,000	shares
Number of treasury shares at the end of the period
	As of June 30, 2022	2,768,705	shares	As of March 31, 2022	2,768,705	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2022	19,503,295	shares	Three months ended June 30, 2021	19,503,357	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	10,781	12,102
Notes and accounts receivable - trade, and contract assets	10,606	9,677
Electronically recorded monetary claims - operating	638	770
Merchandise and finished goods	9,419	11,780
Work in process	4,413	5,408
Raw materials and supplies	11,672	11,613
Accounts receivable - other	2,390	1,785
Other	1,380	1,514
Allowance for doubtful accounts	(469)	(509)
Total current assets	50,834	54,143
Non-current assets
Property, plant and equipment
Buildings and structures, net	6,212	6,307
Machinery, equipment and vehicles, net	1,543	1,670
Land	4,625	4,737
Other	1,015	1,567
Total property, plant and equipment	13,397	14,282
Intangible assets	572	548
Investments and other assets
Investment securities	1,939	1,932
Other	2,111	2,274
Allowance for doubtful accounts	(1)	(1)
Total investments and other assets	4,048	4,205
Total non-current assets	18,018	19,037
Total assets		68,852	73,180

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			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade	14,252	14,045
Short-term borrowings	433	1,364
Current portion of long-term borrowings	1,744	1,981
Provisions	332	403
Other	5,725	5,738
Total current liabilities	22,489	23,534
Non-current liabilities
Long-term borrowings	5,869	7,027
Retirement benefit liability	3,140	3,087
Other	414	524
Total non-current liabilities	9,424	10,640
Total liabilities	31,913	34,174
Net assets
Shareholders' equity
Share capital	5,362	5,362
Capital surplus	5,334	5,334
Retained earnings	25,944	26,460
Treasury shares	(1,539)	(1,539)
Total shareholders' equity	35,102	35,618
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	711	706
Deferred gains or losses on hedges	(3)	(0)
Foreign currency translation adjustment	607	2,165
Remeasurements of defined benefit plans	18	17
Total accumulated other comprehensive income	1,335	2,889
Share acquisition rights	282	282
Non-controlling interests	218	215
Total net assets	36,938	39,006
Total liabilities and net assets		68,852	73,180

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Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative)

Consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2021	June 30, 2022
Net sales	11,138	12,058
Cost of sales	7,769	8,159
Gross profit	3,368	3,899
Selling, general and administrative expenses	2,781	3,031
Operating profit	587	868
Non-operating income
Interest income	8	8
Dividend income	38	63
Foreign exchange gains	87	76
Gain on valuation of derivatives	-	84
Other	55	62
Total non-operating income	189	293
Non-operating expenses
Interest expenses	51	29
Loss on valuation of derivatives	65	-
Other	13	10
Total non-operating expenses	130	40
Ordinary profit	646	1,121
Extraordinary income
Gain on sale of non-current assets	1,165	-
Total extraordinary income	1,165	-
Extraordinary losses
Subsidiaries relocation expenses	63	-
Extra retirement payments	20	-
Total extraordinary losses	83	-
Profit before income taxes	1,727	1,121
Income taxes	513	315
Profit	1,214	805
Loss attributable to non-controlling interests	(2)	(3)
Profit attributable to owners of parent		1,216	809

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