Nitto Denko : Quarterly Financial Summary

Date: January 26, 2023

Preliminary

Summary of Consolidated Financial Statements

for the Third Quarter Ended December 31, 2022 (IFRS Basis)

Listed company name:	Nitto Denko Corporation
Stock exchange listing:	Tokyo Stock Exchange, Prime Market
Code Number:	6988	URL	https://www.nitto.com/
Company Representative:	Hideo Takasaki, President
Contact Person:	Yasuhiro Iseyama, Executive Vice President, Director of Corporate Accounting & Finance Division
Phone:	[phone]

Filing date of quarterly financial statements: Estimated starting date of dividend paying: Preparation of supplementary explanatory materials: Holding of quarterly earnings release conference:

January 30, 2023

-

Yes

Yes (for investment analysts and institutional investors)

	(All monetary values noted herein are rounded down to the nearest million yen)
1. Consolidated financial results of the third quarter ended December 31, 2022 (April 1, 2022 through December 31, 2022)
(1) Operating results	(% of change from same period in the previous year)

Revenue

Operating

income

Income before income taxes

Net income

Net income

attributable to owners of the parent company

Total

comprehensive

income

Third quarter ended December 31, 2022 Third quarter ended December 31, 2021

Millions of yen

738,979

646,271

Millions

%

of yen

14.3 137,718

14.1 108,334

Millions

%

of yen

27.1 137,397

42.7 108,669

%

26.4

44.1

Millions of yen

95,838

77,976

%

22.9

41.4

Millions of yen

95,766

77,898

%

22.9

41.4

Millions of yen

113,405

89,827

%

26.2

64.1

	Basic earnings per share	Diluted earnings per share
	Yen	Yen
Third quarter ended	646.94	646.69
December 31, 2022
Third quarter ended	526.37	526.10
December 31, 2021

(2) Financial position

			Equity attributable to owners	Ratio of equity attributable to
	Total assets	Total equity	owners of the parent company
	of the parent company
			to total assets
	Millions of yen	Millions of yen	Millions of yen	%
December 31, 2022	1,167,864	897,379	896,424	76.8
March 31, 2022	1,094,469	822,105	821,192	75.0

2. Dividends

				Dividends per share
		1Q	2Q	3Q	Year-end	Annual
		Yen	Yen	Yen	Yen	Yen
March, 2022		-	110.00	-	110.00	220.00
March, 2023		-	120.00	-
March, 2023 (Forecast)					120.00	240.00

(Note) Revision of dividend forecast in the current quarter: No

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3. Forecast for fiscal year ending March 31, 2023 (April 1, 2022 through March 31, 2023)

(% of change from same period in the previous year)

Revenue

Operating income

Income before income taxes

Net income

Net income

attributable to owners of the parent company

Basic earnings

per share

	Millions	%	Millions	%	Millions	%	Millions	%	Millions	%
	of yen	of yen	of yen	of yen	of yen
Annual	940,000	10.1	145,000	9.6	145,000	9.5	100,000	2.8	100,000	3.0

(Note) Revision of consolidated forecast in the current quarter: Yes

• Others
• 1. Changes in significant subsidiaries during the third quarter ended December 31, 2022: No
  2. Changes in accounting policies applied and changes in accounting estimates
  3. 1. Changes in accounting policies required by IFRS: No
     2. Changes in accounting policies other than the above: No
     3. Changes in accounting estimates: No
  4. Number of shares outstanding (Common stock)
  5. 1. Number of shares outstanding at the end of the period (including treasury stock)

	December 31, 2022:	149,758,428	March 31, 2022: 149,758,428
2.	Number of treasury stock at the end of the period
	December 31, 2022:	1,718,662	March 31, 2022: 1,744,778
3.	Average number of outstanding shares during the period (cumulative from the beginning of the period)
	April-December 2022: 148,030,323	April-December 2021: 147,991,538

Yen

675.54

• These quarterly financial results are not subject to quarterly review procedures by Certified Public Accountants or audit firm.
• Explanations for adequate utilization of the forecast and other special matters

The forward-looking statements shown in this report, including the forecast, are prepared based on information available to the Company and on certain assumptions deemed reasonable as of the issuing date of the report. Consequently, the statements herein do not constitute promises regarding actual results by the Company. Actual results may differ materially from forecasted figures due to various unknown factors.

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(Reference) Segment Information (nine months)					(Yen in Millions)
				Third quarter ended		Third quarter ended
				December 31, 2021		December 31, 2022
				(April 1, 2021		(April 1, 2022
				through December 31, 2021)		through December 31, 2022)
				Revenue		Revenue			Y-o-Y (%)
Industrial Tape	Revenue		241,079		262,265			108.8
Operating income		29,895		24,518			82.0
		Information Fine Materials	276,200	301,473	109.2
Optronics	Flexible Printed Circuits		72,872		92,510			126.9
Total	349,072	393,984	112.9
		Operating income		74,076		114,508			154.6
		Life Science	39,729	43,303	109.0
		Membrane	21,067	25,896	122.9
Human Life	Personal Care Materials		9,038		33,572			371.5
		Total		69,834		102,772			147.2
		Operating income		10,663		6,544			61.4
Others	Revenue		-		4			-
Operating income		-4,746		-4,232			-
Corporate/Elimination	Revenue		-13,715		-20,047			-
Operating income	-1,555	-3,621	-
Total	Revenue		646,271		738,979			114.3
Operating income	108,334	137,718	127.1

(Note) Since "Human Life" has been newly established in the reporting segments from FY2022, partial changes have been made to reporting segments. "Human Life" includes "Life Science" and "Membrane" which was previously included in "Others". In addition, The personal care components business of Mondi, acquired in the first quarter of FY2022, has been newly established as "Personal Care Materials" in the "Human Life". Certain related businesses has been transferred from "Industrial Tape" to "Personal Care Materials". Such changes have also been reflected in the figures for the third quarter ended December 31, 2021.

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(Reference) Segment Information (three months)					(Yen in Millions)
				Third quarter ended		Third quarter ended
				December 31, 2021		December 31, 2022
				(October 1, 2021		(October 1, 2022
				through December 31, 2021)		through December 31, 2022)
				Revenue		Revenue			Y-o-Y (%)
Industrial Tape	Revenue		81,282		91,404			112.5
Operating income		9,548		7,841			82.1
		Information Fine Materials	91,124	104,959	115.2
Optronics	Flexible Printed Circuits		27,974		30,631			109.5
Total	119,099	135,591	113.8
		Operating income		25,989		41,904			161.2
		Life Science	14,284	13,231	92.6
		Membrane	7,068	8,989	127.2
Human Life	Personal Care Materials		3,151		14,496			460.0
		Total		24,504		36,716			149.8
		Operating income		3,063		1,124			36.7
Others	Revenue		-		2			-
Operating income		-2,011		-1,509			-
Corporate/Elimination	Revenue		-4,566		-9,645			-
Operating income	-1,064	-3,922	-
Total	Revenue		220,319		254,070			115.3
Operating income	35,525	45,439	127.9

(Note) Since "Human Life" has been newly established in the reporting segments from FY2022, partial changes have been made to reporting segments. "Human Life" includes "Life Science" and "Membrane" which was previously included in "Others". In addition, The personal care components business of Mondi, acquired in the first quarter of FY2022, has been newly established as "Personal Care Materials" in the "Human Life". Certain related businesses has been transferred from "Industrial Tape" to "Personal Care Materials". Such changes have also been reflected in the figures for the third quarter ended December 31, 2021.

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(Reference) Segment Information (annual forecast)			(Yen in Millions)
				Forecasts of fiscal year ending March 31, 2023
				Revenue		Y-o-Y (%)
Industrial Tape	Revenue		340,000		106.5
Operating income		30,000		79.3
		Information Fine Materials	372,500	102.4
Optronics	Flexible Printed Circuits		117,500		122.6
Total	490,000	106.6
		Operating income	125,000	129.4
		Life Science	52,500	101.0
		Membrane	32,500	117.3
Human Life	Personal Care Materials		48,000		382.6
		Total		133,000		144.2
		Operating income		1,500		20.7
Others	Revenue		5		276.9
Operating income		-6,500		-
Corporate/Elimination	Revenue		-23,005		-
Operating income	-5,000	-
Total	Revenue		940,000		110.1
Operating income	145,000	109.6

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