NSD : 1Q Financial Results - Year ending March 31, 2024

This English translation is prepared for reference purposes only and is qualified in its entirety by the original Japanese version.

July 31, 2023

	Consolidated Summary Report
	for the First Quarter of the Fiscal Year Ending March 31, 2024
	(under Japanese GAAP)
Company name	: NSD CO., LTD.
Stock listing	: Tokyo Stock Exchange, Prime Market
Stock code	: 9759
URL	: https://www.nsd.co.jp/
	(Fractions smaller than a million yen omitted)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024 (from April 1, 2023 to June 30, 2023)

(1) Consolidated Results of Operations (Cumulative)			(Percentages indicate year-on-year changes)
		Net sales			Operating income	Ordinary income	Net income attributable to
				owners of the parent
Fiscal year ended		Millions of yen		%		Millions of yen	%	Millions of yen	%	Millions of yen	%
June 30, 2023		24,007		29.1		3,376	16.9	3,377	15.9	1,688	(5.9)
June 30, 2022		18,594		10.2		2,888	15.5	2,915	15.4	1,794	12.9
Note: Comprehensive income	First quarter ended June 30, 2023: 1,955 million yen ((1.1%))

First quarter ended June 30, 2022: 1,977 million yen (24.9%)

		Net income per share	Net income per share
		(Diluted)
First quarter ended		Yen	Yen
June 30, 2023		21.97	21.97
June 30, 2022		23.05	23.05
(2) Consolidated Financial Position
		Total assets	Net assets	Equity ratio
As of		Millions of yen	Millions of yen	%
June 30, 2023		70,515	53,037	74.1
March 31, 2023		68,159	55,458	80.3
Reference: Equity	As of June 30, 2023: 52,223 million yen
	As of March 31, 2023: 54,709 million yen

2. Dividends

						Annual dividends
		First quarter end	Second quarter end		Third quarter end	Fiscal year end	Total
		Yen	Yen		Yen	Yen	Yen
Fiscal year ended		－	10.00			－	57.00		67.00
March 31, 2023
Fiscal year ending		－
March 31, 2024
Fiscal year ending			0.00			－	68.00		68.00
March 31, 2024 (Forecast)

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

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

(Percentages indicate year-on-year changes)

	Net sales		Operating income	Ordinary income	Net income	Net income
		attributable to
		per share
							owners of the parent
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Second quarter ending	47,450	25.6	6,300	5.5	6,300	4.8	3,800	(27.5)	49.44
September 30, 2023
Fiscal year ending	97,000	24.4	14,000	11.8	14,000	10.6	8,700	(14.9)	113.18
March 31, 2024

Note: Revisions to the consolidated financial forecasts most recently announced: None

*Notes

(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries resulting

in the change in scope of consolidation): None

Note: ART Holdings Co., Ltd. and its seven subsidiaries and NHOSA Corporation and its subsidiary is included in the scope of consolidation from the first consolidated accounting period due to the acquisition of its shares. These changes are not relevant to a specified subsidiary.

(2) Application of accounting methods specific to quarterly consolidated financial statements	: Yes
Note: For details, please refer to "(3) Notes to Quarterly Consolidated Financial Statements"
in "2. Quarterly Consolidated Financial Statements and Notes" on page 10 of Appendix.

1. Changes in accounting policies, changes in accounting estimates, and restatements of financial statements of the prior period after error corrections

a.	Changes in accounting policies due to revisions of accounting standards and other regulations	: None
b.	Changes in accounting policies due to other reasons	: None
c.	Changes in accounting estimates	: None
d.	Restatement of financial statements of the prior period after error corrections	: None

1. Number of shares issued (Common stock)
   a. Total number of shares issued at the end of the period (including treasury stock)

As of June 30, 2023:	87,000,000 shares
As of March 31, 2023:	87,000,000 shares

1. Number of treasury stock at the end of the period

As of June 30, 2023:	10,131,820 shares
As of March 31, 2023:	10,131,584 shares

1. Average number of shares during the period

First quarter ended June 30, 2023:	76,868,233 shares
First quarter ended June 30, 2022:	77,854,557 shares

*Reports of quarterly financial results are not subject to quarterly review by certified public accountants or auditing firm.

*Explanations relating to the appropriate use of financial forecasts and other important items

(Notes on Financial Forecasts)

The financial forecasts contained in this document is based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual businesses and other results may differ substantially due to various factors. For premises for financial forecasts and cautions when using financial forecasts, please refer to "(3) Information on Financial Forecasts" in "1. Results of Operations and Financial Conditions" on page 5 of Appendix.

(Supplemental Materials on Quarterly Results)

Supplemental materials on results will be posted on the Company's website on July 31, 2023.

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