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.

May 12, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name: NID Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
2349
URL:
http:// 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 of annual general meeting of shareholders:June 27, 2023
Scheduled date to commence dividend payments:
June 28, 2023
Scheduled date to file annual securities report:
June 28, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,
2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

20,449

12.0

2,544

14.3

2,742

11.2

2,210

35.5

March 31, 2022

18,251

3.2

2,226

19.0

2,466

15.4

1,631

19.6

Note: Comprehensive income

For the fiscal year ended March 31, 2023:
For the fiscal year ended March 31, 2022:

Basic earnings
per share

Diluted earnings
per share¥2,065 million¥1,539 million

Return on equity[34.1%][△16.0%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%

Fiscal year ended

Yen

March 31, 2023

199.03

－

13.0

11.9

12.4

March 31, 2022

145.66

－

10.4

11.6

12.2

Net assets

Equity-to-asset ratio

Yen%(2) Consolidated financial position
Total assets
As ofMillions of yen

Millions of yen

Net assets per share%

Yen

March 31, 2023

24,02017,91174.6

1,612.81

March 31, 2022

21,904

16,10173.5

1,449.81

Reference:

EquityAs of March 31, 2023:
As of March 31, 2022:¥17,911 million¥16,101 million

(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

2,086

△1,214△267

12,387

March 31, 2022

1,650

△318

△617

11,783

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)

Yen

Fiscalyear-end

Yen

Yen

Total

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Total cash
dividends(Total)Yen Millions of yen

%

%

－

－

－

23.00

23.00

255

15.7

1.7

－

－

－

26.00

26.00

288

13.1

1.2

－

－

－

27.00

27.00

17.0

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

Million yen
10,04021,000Operating profit
%
5.9
2.7

Million yen
940
2,400

%
△11.7
△5.7

Ordinary profit
Million yen
1,020
2,560

%
△11.8
△6.7

Profit attributable toowners of parent
Million yen
710
1,760

%
△30.0
△20.4

Net income
per shareYen
63.93
158.48

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

Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

13,109,490 shares

As of March 31, 2022

13,109,490 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023

2,003,853 shares

As of March 31, 2022

2,003,759 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023

11,105,687 sharesFiscal year ended March 31, 2022

11,200,936 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(Thousands of yen)
As of March 31, 2022
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
Buildings and structures
Accumulated depreciation
Buildings and structures, net
VehiclesAccumulated depreciation
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Other
Total 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

As of March 31, 2023

11,845,184
138,825
3,149,350
254,149
81,25015,468,759

13,049,487
99,824
3,416,640
147,453
161,928
16,875,335

400,870△191,499
209,370
35,602△21,713
13,888
312,468△221,531
90,937
20,17968,813△51,420
17,393351,770

411,097△217,934
193,163
36,156△24,343
11,812
322,560△243,152
79,40820,17975,080△50,826
24,254
328,817－140,263
21,327
161,591

231,135
102,691
12,082345,908

4,560,544
871,742
345,739
144,227
5,922,253
6,435,615
21,904,375

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

(Thousands of yen)
As of March 31, 2022
Liabilities
Current liabilities
Accounts payable - trade
Accounts payable - other
Income taxes payable
Accrued consumption taxes
Advances received
Provision for bonuses
Other
Total current liabilities
Non-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 March 31, 2023

469,479
465,463506,938
217,248684
922,888
218,401
2,801,102

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

2,448,765

2,484,080

496,750

556,987

48,285
8,294
3,002,095
5,803,198

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

653,352
488,675
15,805,353△1,587,655
15,359,725

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

728,413584,855

13,037

11,830741,451596,685

16,101,177
21,904,375

17,911,232
24,020,006

(2) Consolidated Statements of Income(Thousands of yen)
Fiscal year ended
March 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Gain on investments in investment partnerships
Gain on sale of investment securities
Insurance claim income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Interest expenses
investment partnership management fee
Taxes and dues
Commission expenses
Loss on cancellation of insurance policies
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
Gain on sale of investments in capital
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total 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

Fiscal year ended
March 31, 2023

18,251,712
13,870,626
4,381,086
2,155,072
2,226,014

20,449,245
15,641,590
4,807,654
2,263,058
2,544,596

11,311
197,609－－
10,77230,927
9,746
260,367

11,210145,303
4,975
13,067
5,797
14,227
11,989206,570

908
3,297
6,206
3,685
5,337
32
329
19,7982,466,583

1,280
2,371
3,215
－
－
1,199
409
8,476
2,742,690

999
－
－
999

2,337
342,392
99,999444,730

11,24332,551
43,7942,423,788
800,483△8,206792,276
1,631,511

8,549
－
8,549
3,178,871
987,725△19,250
968,475
2,210,396

1,631,511－

2,210,396－△87,092△4,449△91,542
1,539,969△143,558△1,206△144,765
2,065,630

1,539,969

2,065,630－－

(3) Consolidated Statements of Changes in Shareholders’ Equity
Consolidated Financial Results for the Fiscal Year 2022 (From April 1, 2021 to March 31, 2022)(Thousand yen)
Shareholders' equity

Balance at beginningof current period
Changes of items
during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other
than
shareholders' equity
Total changes of items
during period
Balance at end ofcurrent period

Balance at beginningof current period
Changes of items
during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other
than
shareholders' equity
Total changes of items
during period
Balance at end ofcurrent period

Capital stock

Capital surplus

653,352

488,675

Retainedearnings

Treasuryshares14,423,667△1,227,405

Total
shareholders'equity14,338,289△249,826△249,826

1,631,511

1,631,511△360,250△360,250--

1,381,685△360,250

1,021,435

653,352

488,675

15,805,353△1,587,655

15,359,725

Accumulated other comprehensive income
Total
Valuation
Remeasureme accumulateddifference on
nts of defined otheravailable-forbenefit planscomprehensi
sale securities
ve income

Total net assets

815,506

17,487

832,993

15,171,283△249,826
1,631,511△360,250△87,092△4,449△91,542△91,542△87,092△4,449△91,542929,893

728,413

13,037

741,451

16,101,177

Consolidated Financial Results for the Fiscal Year 2023 (From April 1, 2022 to March 31, 2023)(Thousand yen)
Shareholders' equity

Balance at beginningof current period
Changes of items
during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other
than
shareholders' equity
Total changes of items
during period
Balance at end ofcurrent period

Balance at beginningof current period
Changes of items
during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesNet changes of items
other
than
shareholders' equity
Total changes of items
during period
Balance at end ofcurrent period

Capital stock

Capital surplus

653,352

488,675

Retainedearnings

TreasurysharesTotalshareholders'equity15,805,353△1,587,655

15,359,725△255,431△255,431

2,210,396

2,210,396
△142

△142

-

-

1,954,964△142

1,954,821

653,352

488,675

17,760,317△1,587,797

17,314,547

Accumulated other comprehensive income
Total
Valuation
Remeasureme accumulateddifference on
nts of defined otheravailable-forbenefit planscomprehensi
sale securities
ve income

Total net assets

728,413

13,037

741,451

16,101,177△255,431
2,210,396△142△143,558△1,206△144,765△144,765△143,558△1,206△144,765

1,810,055

584,855

11,830596,685

17,911,232

(4) Consolidated Statements of Cash Flows(Thousands of yen)
Fiscal year ended
March 31, 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 sale of investments in capital
Loss (gain) on valuation of investment securities
Loss (gain) on sale of property, plant and equipment
Loss on retirement of property, plant and equipment
Loss on retirement of intangible assets
Loss (gain) on investments in investment partnerships
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Decrease (increase) in other non-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
Proceeds from sale of investments in capital
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of golf club membership
Payments of guarantee deposits
Proceeds from refund of guarantee deposits
Purchase of insurance funds
Proceeds from maturity of insurance funds
Net cash provided by (used in) investing activities

Fiscal year ended
March 31, 2023

2,423,788
120,170－
20,7993,178,871
115,869
12,14633,440△27,600

27,100△13,448△208,920
908－－
32,551△999
105
11,1122,026△242,774△138,533
78,105△6,18188,64526,275△98,037
12,8096,110
2,086,916
209,713△908△645,339
1,650,381

8,869△156,514
1,280△355,459△99,999－△2,337
48
8,500
2,671
△150,073
112,880△69,533
281
71,515△400
83,78945,1253,930
2,872,000
156,462△1,280△940,467
2,086,715△0△610,990△0△1,269,160

390,892

843,497－

100,000－△849,459△27,089
1,000△39,645△43,000△19,142－△4,79633,842△318,928△23,190
2,337△14,492－－
174△4,172－△1,214,467

(Thousands of yen)
Fiscal year ended
March 31, 2022
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Dividends paid
Purchase of treasury shares
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

360,000△360,000△249,762△360,250△7,681△617,694
713,758
11,069,587
11,783,346

Fiscal year ended
March 31, 2023
360,000△360,000△255,104△142△12,587△267,835
604,412
11,783,346
12,387,759