First Six Months of FY 3/2021

Financial Results
Briefing Materials
Nurturing and Bringing Out
the Best in People

November 10, 2020NISSO CORPORATIONTSE 1 Code: 6569

0

Summary
FY 3/2021 2Q Results●Decreased revenue and profits year-on-year●The effects of the new coronavirus (COVID-19) has bottomed out overall●The core automobiles-related industry has been on a recovery trend since June

●Equipment maintenance needs are strong

FY 3/2021 Consolidated Earnings Forecast●Recovery is faster than originally planned, mainly for automobiles manufacturers●Upward revision of previously announced forecasts based on recent business results

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

1CONTENTS

1

First Six Months of FY 3/2021

Financial Results Summary

2First Six Months of FY 3/2021

Overview of Activities

3

Future Prospects (FY 3/2021）

4

Topics5

Shareholder Return Policy

6

Supplementary Materials
Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved2１First Six Months of FY 3/2021 (2Q)

Financial Results Summary

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved3

FY 3/2021 2Q Consolidated Financial Results Highlights（Unit: Million yen）

PointsFY 3/2020 2Q• Due to the spread of COVID-19
infections, net sales in the General
Human Resources Services Businessdecreased.

• Although
SG&A
expenses
wererestrained, operating profit declined by
35.2%.
• Ordinary profit decreased due to therecording of subsidy income under nonoperating income.

• In Other Businesses, operating loss wasrecorded due to increased expenses,
although revenues increased.

Results% of Total

FY 3/2021 2Q
Results% of Total

Year-on-Year
Increase(Decrease)% Change

36,797100.0％

32,972100.0%(3,825)(10.4%)

Gross profit

6,210

16.9％

5,093

15.4%

(1,117)(18.0%)

SG&A
expenses

5,082

13.8％

4,361

13.2%

(720)

(14.2%)

Operatingprofit

1,128

3.1％

731

2.2%

(396)

(35.2%)

Ordinary
profit

1,154

3.1％

989

3.0%

(164)

(14.3%)

785

2.1％

596

1.8%

(188)

(24.0%)Net sales

Profitattributableto owners ofparentCopyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

4

FY 3/2021 Quarterly Consolidated Financial Results（Unit: Million yen）

（Unit: Million yen）

Net sales
20,00018,814 18,920

Operating profit
19,2481,400

18,435
17,942 17,983

1,165
1,200

16,784

1,039
16,557
16,414

15,999

914

1,000

767

800
15,000

650
542

600

400

525

477

372
206

200

10,000

１Q

２Q

３Q【FY 3/19】

４Q

１Q

２Q

３Q

【FY 3/20】

４Q

1Q

2Q

【FY 3/21】

0

１Q

２Q

３Q

【FY 3/19】

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

４Q

１Q

２Q

３Q

【FY 3/20】

４Q

1Q

2Q

【FY 3/21】

5

FY 3/2021 2Q Non-consolidated Financial Results Highlights（Unit: Million yen）

Net sales

FY 3/2020 2Q

FY 3/2021 2Q• Overall net sales decreased by 11.2%
year-on-year, mainly due to a decreasein enrolled staff, although production
operations are on a recovery trend.

Results

Results

Expenses・Profits• Due to the spread of COVID-19 infections,employeerecruitment
expensescontinued to decline and SG&A expenses
decreased by 14.2%.
• Subsidy income was recorded in nonoperating income.

% of Total% of Total

Year-on-Year
Increase(Decrease)% Change

33,955100.0％

30,155100.0%(3,800)(11.2%)

Gross profit

5,887

17.3％

4,839

16.0%

(1,048)(17.8%)

SG&A
expenses

4,756

14.0％

4,079

13.5%

(676)

(14.2%)

Operatingprofit

1,131

3.3％

760

2.5%

(371)

(32.8%)

Ordinary
profit

1,136

3.3％

977

3.2%

(158)

(14.0%)

777

2.3％

605

2.0%

(171)

(22.0%)Net sales

ProfitCopyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

6

FY 3/2021 2Q Quarterly Non-consolidated Financial Results（Unit: Million yen）

（Unit: Million yen）

Operating profit

Net sales
18,00017,38917,478 17,775

1,400

16,962
16,542 16,566

1,204
1,200

1,044
16,00015,37815,153

14,5901,000

940

15,002

783

800

663

14,000

555

577

600

468
399
400
12,000

204

200

0

10,000

１Q

２Q

３Q【FY 3/19】

４Q

１Q

２Q

３Q

４Q

【FY 3/20】

1Q

2Q【FY 3/21】

１Q

２Q

３Q

【FY 3/19】

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

４Q

１Q

２Q

３Q

【FY 3/20】

４Q

1Q

2Q

【FY 3/21】

7

2First Six Months of FY 3/2021 (2Q)

Overview of Activities

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

8

FY 3/2021 2Q Financial Results Summary
Consolidated Financial Results

Net Sales
32,972 Million yen （-3,825 Million yen／-10.4％ YoY）
Operating Profit
731 Million yen （ -396 Million yen／-35.2％ YoY）
● Net Sales by Industry (YoY)
Automobiles… (18.6%)

Electronic devices… ＋4.6%● 2Q-end Number of Enrolled Staff

12,524 staff（-2,246 staff from FY 3/20-end）● Net Sales per Capita/Monthly

373 Thousand yen（-20 Thousand yen YoY）

・In the automobiles-related industry, although net sales increased on aquarterly basis, due to the effects of a decrease in the number of enrolled
staff, it decreased by 18.6% YoY. In the electronic-devices related industry,
although semiconductor-related net sales remained firm, it only increased
by 4.6% YoY due to a slump in electronic components.
・The number of enrolled staff decreased by 2,246 compared to FY 3/20-end,
and although client needs for external human resources were on arecovery trend, enrollment did not increase.

・The assignment of skilled staff to high unit-cost workplaces continued to bepromoted; there was also a recovery in hours of operation (number ofworking days, overtime hours, holiday work, etc.), and net sales per capita
increased compared to 1Q.
Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

9

FY 3/2021 2Q Net Sales by Industry (NISSO, Non-consolidated)（Unit: Million yen）

Net Sales Composition Ratios
Automobiles

Elec. Devices

5,312（15.6％）

Precision・Elec. Machinery(14.5％)

4,008

8,690
+4.6％

9,094
（30.2％）

15,263※（Due to the spread of COVID-19 infections, demand for
office-related equipment/machinery decreased, andnet sales decreased by 14.5% YoY.

4,633

（15.4％）（13.3％）（25.6％）

Other(12.8％)

4,688（13.8％）【Precision・Electrical Machinery】(18.6％)【Electronic Devices】
Semiconductor-related net sales continued to bestrong due to the spread of teleworking and demand
for servers, etc. On the other hand, electronic
components-related net sales increased by only 4.6%
YoY, partly due to inventory adjustments, etc.

【Automobiles】
12,417（45.0％）（41.2％）

FY 3/20 2Q

FY 3/21 2Q

Operations increased in line with recovery trends inexports and domestic production. Some manufacturers
have increased the number of staff. Although net sales
decreased by 18.6% YoY, it increased compared to 1Q.

）= % of Total net sales, Red = % of Year-on-Year growth

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

10

FY 3/2021 Quarterly Net Sales by Industry (NISSO, Non-consolidated)

Automobiles

Elec. Devices

Precision・Elec. Machinery

2,890
2,690

2,607

（17.9％）

2,424（16.6％）（17.5％）

2,404（29.7％）

2,427（14.3％）（15.8％）

2,348（14.2％）

2,631（15.9％）

2,371（14.3％）（15.6％）

4,752

4,646

4,330

（17.0％）

2,619

4,198

（Unit: Million yen）

Other

4,057

（24.5％）（28.0％）（25.4％）

6,891

7,375

7,505

2,680

（15.4％）（15.9％）

2,317

2,190

（13.3％）

4,633（26.6％）

4,487（25.7％）（14.4％）

2,182

7,757

（45.3％）（44.6％）（35.8％）（36.7％）（44.6％）

１Q

2Q

3Q

4Q

１Q

2Q

【FY 3/19】

2,383（12.3％）（15.7％）

4,650（13.9％）

2,113
4,680

8,026

（45.9％）

8,378（47.1％）

5,974（39.4％）3Q【FY 3/20】

2,249（15.0％）

1,895（12.6％）（26.2％）（30.9％）（40.6％）※（（12.5％）

2,563（30.2％）

5,636

5,227

2,774

4Q

1Q

4,413

（29.4％）

6,443（43.0％）2Q【FY 3/21】）= % of Total net sales

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

11

Net Sales per Capita（NISSO, Non-consolidated）● FY 3/2021 2Q YTD＜Overall net sales per capita＞
373 Thousand yen (-20 Thousand yen YoY)
＜Skilled staff net sales per capita＞ 435 Thousand yen (-48 Thousand yen YoY)
● Hours of operation (number of working days, overtime hours, holiday work, etc.) that had decreased due to the spread of COVID-19
infections have been on a recovery trend. Although they decreased YoY, they increased compared to 1Q. Billing unit-costs continued
to increase.
（Unit: Thousand yen）

（Unit: Thousand yen）

Net Sales per Capita

Net Sales per Capita(Monthly Average Conversion)(Quarterly)

Skilled staff

483

500

394
400

Overall 435

373

500

400

300

300

200

200

100

100

0

513

478
379

471
383

410

485

484
392

391

482
397

396

Skilled staff

485

478

Overall 451

419

403

358

390

0

FY 3/20 2Q

FY 3/21 2Q

１Q

2Q

3Q

4Q

１Q

【FY 3/19】
Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

2Q

3Q【FY 3/20】

4Q

1Q

2Q

【FY 3/21】

12

Number of Enrolled Staff (NISSO, Non-consolidated)（Unit: # of Staff）

Compared w. Previous FY-end

Number of Enrolled Staff at Quarter-end-2,246 staff (-15.2%)

Point①

15,000The effects of the spread of COVID-19
infections bottomed out in June, and the decline
in the number of enrolled staff is beginning tocome to a halt. The number of new enrolled
staff has also increased from September.

Point②

13,826 14,042
13,546
13,05014,639 14,638 14,770
14,282
13,243
12,52413,00011,0009,000

The human resources needs of clients are ona recovery trend, especially in theautomobiles-related industry. Somemanufacturers have increased the number ofstaff.

7,000

5,000

1Q

2Q

3Q

4Q

【FY 3/19】

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

1Q

2Q

3Q

【FY 3/20】

4Q

1Q

2Q

【FY 3/21】

13

Number of Skilled Staff (NISSO, Non-consolidated)（Unit: # of Staff）

Number of Skilled Staff

Point①
The number of resignees increased due tothe impact of reduced production by some
suppliers. Due to the effects of the spread of
COVID-19 (difficulty in transferring/moving
out of the prefecture, etc.), the number ofskilled staff decreased.

6,000

4,501

5,000

4,803

5,085

5,250 5,387 5,293

3,904
4,000

3,459

Point②

2,611

3,000

In the semiconductor-related industry, thenumber of skilled staff continues toincrease, and client needs are also high.

2,000

2,034

1,000

Point③
Although the number of skilled staff decreased,
the ratio of skilled staff to NISSO's total
enrolled staff increased to 42.3%.
(FY 3/2021 1Q: 40.7%)

0

1Q

2Q

3Q

4Q

1Q

【FY 3/19】

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

2Q

3Q【FY 3/20】

4Q

1Q

2Q

【FY 3/21】

14

Account Companies (NISSO, Non-consolidated)
Point①

Account Company Groups Net Sales

The net sales share ratio of Account Company
Groups in FY 3/2021 2Q increased to 48.0%.
(FY 3/2021 1Q: 47.7%)（Unit: Million yen）

(Unit: %)Net sales (left axis)

Composition ratio (right axis)

12,000

47.7

48.0

50.0

45.9
10,000

41.9

Point②（Year-on-Year）

8,000

・Although net sales of NISSO decreased by
11.2% YoY, Account Company Group net sales
decreased by only 6.2% YoY.
・In 2Q alone, net sales increased YoY in theautomobiles and electronics Account Company
Groups.
・In the electronic components AccountCompany Group, net sales decreased YoY due
to a delay in recovery.

6,107

42.7

43.7

44.5

44.1

44.2

43.3

7,416 7,366 7,3007,677 7,565
6,564

45.0

8,152
7,225

7,201

40.0

6,000

35.0

4,000

30.0

2,000

25.0

0

１Q

2Q

3Q

4Q

１Q

【FY 3/19】

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

2Q

3Q【FY 3/20】

4Q

1Q

2Q

20.0

【FY 3/21】

15

Turnover Rates (NISSO, Non-consolidated)(Unit: %)Trend of Turnover rates

FY 3/2021 2Q Results
Overall turnover rate

Overall

4.7％

7（±0.0 vs. FY 3/2020）

7

5.9
6

Skilled staff turnover rate

5.5

6

4.9

2.3％

Skilled staff

5

4.6

4.7

5.1

5

4.7

（+0.3 pts vs. FY 3/2020）
4

4

3

3

Points1.7

2・The turnover rate for skilled staff increased by
0.3 points due to the spread of COVID-19
infections.
・The overall turnover rate improved by 0.4
points to 4.7%, recovering to the same level
as the previous FY.

2.0
1.5

2.0

2.3

2

1
1
0
0

1Q
FY 3/16

FY 3/17

FY 3/18

FY 3/19

FY 3/20

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

2Q

3Q

4Q

【FY 3/21】

16

Educational Achievements（NISSO, Non-consolidated）● FY 3/2021 1Q Course-specific educational achievements
Point①(total # of participants)

The number of new employees/staff
decreased and the number of participants
was limited as part of measures to preventthe spread of COVID-19 infections, and thenumber of actual participants decreased.

Training course
name

Point②
Orders from semiconductor manufacturers
continue to be strong, and client needs forequipment maintenance are high.

Point③On-line contents and video educational
materials that can be taken in remotelocations have been enriched.

Skilled staff education(Unit: # of participants)

2Ｑ(Jul - Sep)

Contents

FY 3/20 2Q

202 Standard skilled staff education

483

Basic equipment maintenance65

Accredited vocational training school

57

Basic maintenanceeducation

84 education

Accredited vocational
training education

16 (Miyagi・Nagano Prefectures)

MONOZUKURI (manufacturing)

Manufacturing
education

559 education, pre-assignment training for

Safety education

507 Danger・risk simulation education

1,182

Employee education

New graduate/mid-career entry/
mid-level employee training,
107 newly appointed chief education,
on-site supervisor education

115

Other education

Total

manufacturing staff, mobile education

Entrusted education from external

ー sources

1,475

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

717

ー

2,619
17

Other Businesses Business Revenue
Points●Results of Other Businesses

・Net sales increased YoY as the number ofresidents in Building 6 increased.
・Buildings 1~5 continue to maintain a highoccupancy rate.
・Operating loss amounted to 39 million yen
due to an increase in costs associated withthe stabilization of services provided.

FY 3/20 2Q
Results（Unit: Million yen）

FY 3/21 2Q% of Total

Results

Year-on-Year
Increase(Decrease)% of Total

Net sales

1,369

100.0％

1,461

100.0%

91

6.7%

Expenses

1,367

99.8％

1,500

102.7%

133

9.7%

Operatingprofit (loss)

2

0.2％

(39)

(2.7%)(41)-(Unit: # of residents)

Number of facility residents[Bldg.1-5] (capacity:308)

100%

200

297
96.4%

299

97.1%

298

297

96.4%

# of
residents

Occupancy
rate[Bldg.6] (capacity:94)

400
300

% Change

96.8%

298
96.8%

70

95%

48

50
30

100

84

90

51.0%

59

73

75

77.7%

79.8%

100%

89.4%

62.8%

50%

10

90%

0

Sep'19-end Dec'19-end Mar'20-end Jun'20-end Sep'20-end-10

Sep'19-end Dec'19-end Mar'20-end Jun'20-end Sep'20-end

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

0%

18

3

Future Prospects (FY 3/2021)

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19

FY 3/2021 Revision of Full-year Consolidated Forecasts
Based on recent performance trends, NISSO has revised the Full-year Consolidated Forecast for FY 3/2021(April 1, 2020~March 31, 2021), which was announced on August 7, 2020.
■FY 3/2021 Full-year Consolidated Forecast (April 1, 2020~March 31, 2021)
Previous Forecast
Forecast

Net sales

% of
Total

Present Revised
Forecast
Forecast

% of
Total

Change from
Previous Forecast
Increase(Decrease)% Change(Unit: Million yen)

FY 3/20
Results
Results

% of
Total

3,000

4.7%

2.7%

300

20.0%

3,061

4.1％

2,100

3.1%

350

20.0%

3,149

4.2％

1,300

1.9%

250

23.8%

2,033

2.7％

64,000 100.0%

67,000 100.0%

Operatingprofit

1,500

2.3％

1,800

Ordinary
profit

1,750

2.7％

Profitattributableto owners ofparent

1,050

1.6％

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

74,966 100.0％

20

4
4

TopicsCopyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

21Capital and Business Alliance with Cross Compass Ltd.
NISSO resolved to enter into a capital and business alliance agreement with Cross Compass Ltd. at the Board of Directors' Meeting
held on September 15, 2020, and concluded the capital alliance and business alliance agreement on September 17, 2020.

Content of Business Alliance
The two companies will implement the business alliance mainly related to the following matters:
・Sales expansion/promotion of services utilizing both client bases and sales networks
・Joint development of platforms for the manufacturing industry
・Human resources exchanges for the purpose of training/development
・Other contents discussed by both parties that will contribute to the enhancement ofcorporate value【Content of Capital Alliance】
Cross Compass issued common shares to NISSO through a third-party
allotment of shares, which NISSO underwrote.
(1) No. of shares held before change

0 shares(No. of voting rights: 0)(Percentage of voting rights held: 0.0%)(2) No. of shares acquired

100,000 shares(No. of voting rights: 100,000)(Percentage of voting rights held: 19.9%)(3) Acquisition value

300 million yen(4) No. of shares held after change

100,000 shares

Factories

Worksite solutions by
Humans and AI

Challenges・needs ofmanufacturing
worksites

Extensive knowledge
and human resources atmanufacturing worksites

AI technology anddevelopment capabilities※For more information, please refer to the "(Progress of Disclosure Items) Notice of Conclusion Capital AllianceAgreement and Business Alliance Agreement with Cross Compass Ltd." announced on September 17, 2020.
Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

22

Nisso Group CSR Report 2020
Release of CSR Report 2020

・In order to enhance the corporate value of the Nisso Group, we respect laws and social rules, and carry out CSR
activities toward the realization of a sustainable society. The CSR Report was released on NISSO's website in
October 2020 (Japanese version only, English version to follow).
・Based on the perspective of ESG (Environment, Social {Society}, andGovernance), the Nisso Group believes that it is of the utmost importance torespond to the demands of society by implementing the "Sustainable
Development Goals" that SDGs strive for.
・Based on stakeholder engagement, the Nisso Group aims to solve social issues
by setting concrete plans and targets.
・Going forward, we will continue to engage in corporate activities with the aim ofcontributing to the resolution of social issues through our business, and achieving
sustainable growth together with society. In addition, we will strive to enhance
corporate value by promoting human development in line with the new era, andwill continue to take on challenges to contribute to the growth of the working
people and the future of Japan.

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

23

5

Shareholder Return Policy

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved24Shareholder Return Policy
Dividend and Payout Ratio

Basic Policy
NISSO considers the redistribution of profits toshareholders and the enhancement of corporate value as
key management issues, taking into consideration thebalance between securing funds for growth investments
and strengthening the corporate structure that can
respond to changes in the business environment. In
addition, by setting the consolidated dividend payout ratioof 30% as a general standard, NISSO's basic policy is tocontinue to steadily redistribute profits to all of its
shareholders.

(Unit: Yen)
30.00円Regarding the year-end dividends for FY 3/2021, due to an
upward revision of the Full-year Consolidated Forecast, theexpected dividend per share (9.32 yen) of the "Summaryof Consolidated Financial Results for the First Quarter of FY
3/2021 [Japanese GAAP] Dividend Forecast" announced on
August 7, 2020, has been revised to 11.53 yen.

(Unit: %)45

41.3 ％

40
25.00円

20.00円

30.0 ％
27.7 ％

15.00円

10.00円FY 3/2021 Dividend Forecast

Dividend (left axis)

5.00円

30.0％

35

25.00

30

Yen

25

18.50

20

Yen
10.50
Yen

11.53

15

Yen

10

5
0.00円

FY 3/2018

FY 3/2019

FY 3/2020

FY 3/2021(Forecast)

0※NISSO's common stock was split at a ratio of 2 shares for 1 share on May 1, 2019,
and the FY 3/2019 dividend payout shown above is the dividend payout amountafter the stock split.

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved25

6

Supplementary Materials

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved26

Consolidated Balance Sheet(Unit: Million yen, ％)Mar. 2020-end

Sep. 2020-end% of Total

Increase(Decrease)

13,58365.4(2,038)

28.3

5,570

26.8

(794)

8,434

37.5

7,241

34.9

(1,192)

6,871

30.5

7,186

34.6

314

4,754

21.1

4,730

22.8

(24)

377

1.7

389

1.9

12

1,739

7.7

2,066

9.9

326

22,494100

20,770100(1,723)Current liabilities

9,279

41.3

7,802

37.6

(1,476)

Accrued expenses

4,648

20.7

4,318

20.8

(329)

Income taxes payable

812

3.6

485

2.3

(327)

Provision for bonuses

879

3.9

992

4.8

113

Non-current liabilities

1,319

5.9

1,302

6.3

(16)

623

2.8

555

2.7

(68)

Total liabilities

10,598

47.1

9,105

43.8

(1,492)

Shareholders' equity

11,97453.2

11,742

56.5

(232)

Total net assets

11,895

52.9

11,664

56.2

(230)

Total liabilities and net assets

22,494100

20,770100(1,723)

Amount% of Total

15,622

69.5

Cash and deposits

6,365

Notes and accounts receivable - trade

Current assets

Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total assets

Long-term loans payable

AmountCopyright ⓒ 2020 NISSO CORPORATION All Rights Reserved

Point①Reduction due to reduced operations
Due to the reduction of operations of
manufacturing-related human resources
services, "notes and accounts receivable(trade)", etc., of current assets and "accrued
expenses", etc., of current liabilities
decreased.
②Investments
Due to equity investment associated withthe business alliance, "investments andother assets" of non-current assets
increased.
③Tax payments
Due to income taxes and other tax
payments, "income taxes payable", etc., ofcurrent liabilities decreased.
④Dividends
Shareholders' equity decreased due todividend payments.
⑤Overall
As a result of the above, total assets
decreased by 7.7%, total liabilities
decreased by 14.1%, total net assets
decreased by 1.9%, and equity ratio
increased by 3.3% to 56.2% compared tothe end of the previous fiscal year.

27

Quarterly Consolidated Statements of Cash Flows(Unit: Million yen, ％)FY 3/20
2Q YTDFY 3/21
2Q YTD

AmountAmount

Point
Increase(Decrease)

Cash flows from operating activities

(361)

547

909

Cash flows from investing activities

24

(398)

(422)

Cash flows from financing activities

(786)

(944)

(158)

Net increase (decrease) in cash andcash equivalents(1,122)

(794)

327

Cash and cash equivalents at
beginning of period

5,633

6,365

731

Cash and cash equivalents at end of
period

4,510

5,570

1,059

Copyright ⓒ 2020 NISSO CORPORATION All Rights Reserved① Cash flows from operating activities
In the current quarter, tax payments suchas income taxes, consumption taxes, etc.,
and expenditures, etc., due to a decrease inaccrued expenses were absorbed by revenues,
etc., due to decreases in profit from income
taxes and accounts receivable (trade), whichamounted to 547 million yen in revenues.
②Cash flows from investing activities
In the current quarter, expenditures
amounted to 398 million yen due to stock
investments associated with the businessalliance, and capital investment for coresystems.

③Cash flows from financing activities
Due to scheduled payments of loans
payable and payment of dividends, etc.,
expenditures amounted to 944 million yen.

28

Nurturing and Bringing Out
the Best in People

The forward-looking statements and performance forecasts contained in this document are forecasts
determined by NISSO based on information available at the time of preparation, and include potential risks
and uncertainties. Therefore, please be aware that the actual results may differ greatly from the forwardlooking statements described due to changes in various factors.

For future IR-related inquiries

PR・IR Division, Corporate Planning Department, NISSO CORPORATION
TEL

045-777-7630

E-mailir@nisso.co.jp

URL

https://www.nisso.co.jp/