Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2023
(Under Japanese GAAP)

November 02, 2023

Company name: NID Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
2349
URL:
https://www.nid.co.jp/
Representative:
Shuntaro Komori, President
Inquiries:
Hiroshi Kosuge, Director,Corporate Design Manager, Finance Manager
Telephone:
81-8-3-6221-6811
Scheduled date to file quarterly securities report:
November 02, 2023
Scheduled date to commence dividend payments:—
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to
September 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Six months ended(Percentages indicate year-on-year changes.)

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

September 30,2023

10,554

11.4

1,225

15.2

1,390

20.2

926

△8.8

September 30,2022

9,478

10.6

1,064

12.6

1,156

5.7

1,014

40.9

Note: Comprehensive income

For the six months ended September 30, 2023 :For the six months ended September 30, 2022 :Basic earnings
per share
Six months ended¥1,100 million¥ 976 million

Diluted earnings
per share
YenYenSeptember 30,2023

83.79－September 30,2022

91.39－(2) Consolidated financial position
Total assets
As ofNet assets

Equity-to-asset ratio

Millions of yen

Millions of yen

September 30,2023

24,693

18,435

74.7

March 31,2023

24,02017,911

74.6

Reference:

EquityAs of September 30,2023:
As of March 31, 2023:¥18,435 million¥17,911 million%[12.8%][34.4%]

2. Cash dividends
Annual dividends per shareFirst quarter-end
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen－－－

26.00

26.00－－－27.00

27.00

Fiscal year ending
March 31, 2024(Forecast)Fiscal year-end

Total

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

3. Consolidated Financial Forecasts for the Fiscal Year Ending March 31,2024 (From April 1, 2023 to March31, 2024)
Net sales

Operating profit

Million yen% Million yen%
2.7
2.2
Full Year
21,0002,600
Note : Revisions to the latest projected consolidated results : Yes

Profit attributable toowners of parent

Ordinary profit
Million yen%

Million yen

2,840

3.5

1,970%△10.9Net incomeper shareYen180.31

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the changein scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of September 30,2023

13,109,490 shares

As of March 31, 2023

13,109,490 shares(ii) Number of treasury shares at the end of the period
As of September 30,2023

2,183,853 shares

As of March 31, 2023

2,003,853 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Six months ended September 30,2023

11,052,522 shares

Six months ended September 30,2022

11,105,709 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants
or an audit corporation.
* Proper use of earnings forecasts, and other special matters
All projections provided in this document are based on the most accurate information available at the time ofthis writing. However our actual results may differ from our projections due to various unforeseen reasons.

4. Consolidated Financial Statements(1) Consolidated Balance Sheets(Thousand yen)
As of March 31, 2023

AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Work in process
Other
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Guarantee deposits
Other
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Accounts payable - other
Income taxes payable
Accrued consumption taxes
Advances received
Provision for bonuses
Other
Total current liabilitiesNon-current liabilities
Retirement benefit liability
Provision for retirement benefits for
directors (and other officers)
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeTotal net assets
Total liabilities and net assets

As of September 30, 202313,049,487
99,824
3,416,640
147,453
161,928
16,875,335

13,377,861
204,718
3,216,710
451,952
186,031
17,437,274

328,817345,908

302,016
323,930

4,992,906
968,446
354,127
154,4656,469,944
7,144,670
24,020,006

5,223,995
891,227
356,407
158,287
6,629,917
7,255,864
24,693,139

587,392
350,464
568,346
308,8231,155
931,757
254,655
3,002,594

628,266
350,067
495,936
190,95855
968,723
453,3623,087,369

2,484,080

2,548,570

556,987

569,887

49,10916,0013,106,178
6,108,773

49,5282,402
3,170,389
6,257,758

653,352
488,675
17,760,317△1,587,797
17,314,547

653,352
488,675
18,397,647△1,875,617
17,664,056

584,855

754,989

11,83016,334

596,685

771,323

17,911,232
24,020,006

18,435,380
24,693,139

(2) Consolidated Statements of Income(Thousand yen)Six months ended
September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on sale of investment securities
Gain on redemption of investment securities
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on investments in investment partnerships
investment partnership management fee
Taxes and dues
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable toProfit attributable to owners of parent
Profit attributable to non-controlling interests
Other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

Six months ended
September 30, 2023

9,478,044
7,313,745
2,164,299
1,100,030
1,064,268

10,554,183
8,106,506
2,447,677
1,222,036
1,225,641

5,732
77,667
7,534
－
3,252
5,454
99,641

5,615
83,938－35,36528,655
17,037
170,613

570
2,042
1,387
1,373
1,371
969
7,715
1,156,193

552
754
522
832
－
3,368
6,031
1,390,223

2,290
341,845
344,136

－
－
－

323
323
1,500,007
485,047
1,014,959

98
98
1,390,124
464,048926,076

1,014,959－

926,076－△41,425
2,660△38,764
976,194

170,134
4,503
174,638
1,100,714

976,194

1,100,714－－

(3) Consolidated Statements of Cash Flows(Thousand yen)Six months ended
September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in provision for bonuses
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Loss (gain) on redemption of investment securities
Loss (gain) on sale of non-current assets
Loss on retirement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in trade payables
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued consumption taxes
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Purchase of investment securities
Proceeds from sale and redemption of investment
securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Payments of guarantee deposits
Proceeds from refund of guarantee deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Six months ended
September 30, 2023

1,500,007
57,476－
13,956

1,390,124
52,582
24,33071,02813,55012,90020,041△83,399570△349,380－△2,290323
445,361△209,114△12,151
30,233△52,445△25,819
37,8398,448
1,393,206
83,369△570△542,948
933,056

36,966△89,554552－△35,365－
98
95,036△304,425△32,418
40,874
4,168△117,865
185,727△10,582
1,324,177
89,541△552△526,324
886,841△0△623,127△0△353,529

604,851

408,768△14,159
2,290△13,298
112△1,837△45,169△8,253－△25,554△2,34262△1,837
17,312360,000△360,000△53△254,953△6,476△261,483
626,403
11,783,346
12,409,750

360,000△360,000△287,820△287,999△1,254△577,073
327,080
12,387,759
12,714,839