Nitto Kogyo : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2023

Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results

for the Three Months Ended June 30, 2023

[Japanese GAAP]

Company name: NITTO KOGYO CORPORATION	August 7, 2023
Stock exchange listing: Tokyo, Nagoya
Code number: 6651
URL: https://www.nito.co.jp/
Representative: Toru Kurono	President and COO
Contact: Nobuki Kato	General Manager of Accounting Department

Phone: [phone]

Scheduled date of filing quarterly securities report: August 10, 2023

Scheduled date of commencing dividend payments: -

Availability of supplementary briefing material on quarterly financial results: No

Schedule of quarterly financial results briefing session: No

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)

(1) Consolidated Operating Results			(% indicates changes from the previous corresponding period.)
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
Three months ended	Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%
June 30, 2023	34,416		12.6	1,771	428.0	2,049	130.8	1,383	257.7
June 30, 2022	30,578		2.8	335	(83.0)	888	(56.9)	386	(66.4)

(Note) Comprehensive income:	Three months ended June 30, 2023:
	Three months ended June 30, 2022:

¥	2,264 million	[	152.4%]
¥	896 million	[	(47.1) %]

	Basic earnings	Diluted earnings per
	per share		share
Three months ended	Yen			Yen
June 30, 2023	36.47			-
June 30, 2022	10.20			-
(2) Consolidated Financial Position
	Total assets		Net assets	Capital adequacy ratio
As of	Millions of yen		Millions of yen	%
June 30, 2023	139,997			101,466	72.3
March 31, 2023	135,579			101,370	74.6
(Reference) Equity: As of	June 30, 2023:	¥	101,265 million
As of	March 31, 2023:	¥	101,166 million

2. Dividends

				Annual dividends
	1st	2nd		3rd		Year-end	Total
	quarter-end	quarter-end		quarter-end
	Yen		Yen		Yen		Yen	Yen
Fiscal year ended March 31, 2023	-		88.00		-		57.00	145.00
Fiscal year ending March 31, 2024	-
Fiscal year ending March 31, 2024			72.00		-		116.00	188.00
(Forecast)
(Note) Revision to the forecast for dividends	announced most	recently:	No

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

(% indicates changes from the previous corresponding period.)

			Net sales		Operating profit	Ordinary profit	Profit attributable	Basic earnings
				to owners of parent	per share
Six months ending			Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
		73,000		11.3	3,900	79.6	3,900	32.0	2,700	59.0	71.18
September 30, 2023
Full year			156,000		6.3	10,100	23.6	10,100	11.5	7,100	29.7	187.18
(Note) Revision to the financial results forecast announced most recently:	No
* Notes:
(1) Changes in significant subsidiaries during the three months ended June 30, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):	No
New	-	(Company name:								)
Exclusion:	-	(Company name:								)
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:	Yes

1. Changes in accounting policies, changes in accounting estimates and retrospective restatement
2. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No
3. Total number of issued shares (common shares)
4. 1. Total number of issued shares at the end of the period (including treasury shares):

June 30, 2023:	40,458,000	shares
March 31, 2023:	40,458,000	shares
2) Number of treasury shares at the end of the period:
June 30, 2023:	2,527,146	shares
March 31, 2023:	2,526,925	shares

3) Average number of shares outstanding during the period:
Three months ended June 30, 2023:	37,930,995	shares
Three months ended June 30, 2022:	37,931,344	shares

(Note)

The Company has introduced "Board Benefit Trust (BBT)" . The Company's shares in the BBT, which are reported as treasury shares under Shareholders'equity, are counted as the number of treasury shares as of the average number of shares outstanding for the period for the purpose of not including for computing earnings per share.

This Financial Report is outside the scope of audit by certified public accountants or an audit firm.

* Explanation of the proper use of financial results forecast and other notes

The financial results forecast and other forward-looking statements contained in this report are based on information currently available to the Company and certain assumptions that the Company deemed reasonable and the Company does not promise the achievement of those forecasts. Actual results may differ materially due to various factors.