Non-Consolidated Financial Results
for the Three Months Ended June 30, 2021
[Japanese GAAP]
July 21, 2021
Company name: NAFCO Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 2790
URL: http://www.nafco.tv
Representative: Takumi Ishida, President and CEO
Contact: Kazuomi Kobayashi, General Manager, Accounting Division
Phone: +81-93-521-7030
Scheduled date of filing quarterly securities report: August 6, 2021
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Scheduled(Amounts below one million yen are truncated.)
1. Financial and Operating Results for the Three Months Ended June 30, 2021 (April 1, 2021 to June 30, 2021)(1) Operating Results (cumulative)(Percentages refer to changes from the corresponding period of the preceding fiscal year.)Net sales

Operating profit

Ordinary profit

ProfitThree months
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
ended
56,238
4,456
4,541
2,817
June 30, 2021
June 30, 2020
65,142
11.7
7,572 138.5
7,672 133.0
4,722138.1
The Company has applied “Accounting Standard for Revenue Recognition” and others since the beginning of thefiscal year ending March 31, 2022. Therefore, changes from the actual figures before applying such Standard andothers are not presented.

Three months
ended
June 30, 2021
June 30, 2020

Earnings
per share

Diluted earnings
per share
Yen

Yen

98.63
165.33-(2) Financial Position
Total assets
Millions of yen

Net assets

Equity ratio

Net assets per share

Millions of yen%

Yen

153,415
152,82165.1
64.7

5,371.21
5,350.42

As of June 30, 2021
235,590
As of March 31, 2021
236,164(Reference) Equity: As of June 30, 2021: ¥153,415 million
As of March 31, 2021: ¥152,821 million

2. Dividends
Annual dividends
1st2nd3rdYear-endquarter-end quarter-end quarter-end
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022
Fiscal year ending
March 31, 2022
(Forecast)

Total

Yen

Yen

Yen

Yen

Yen-

23.00

-

27.00

50.00

28.00

-

28.00

56.00

-(Note) Revision from the most recently announced dividend forecast: None
3. Projected Operating Results for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)(% indicates changes from the previous corresponding period.)
Earnings
Net sales
Operating profit
Ordinary profit
Profitper shareFirst half(Cumulative)
Full year% Millions of yen%

Millions of yen%

Millions of yen%

Yen

119,351-

11,717-

11,995-

7,391-

258.76

226,400-

18,791-

19,491-

11,400-399.12Millions of yen(Note) Revision from the most recently announced projected operating results: None
The projected operating results are based on “Accounting Standard for Revenue Recognition” and others, which
the Company has applied since the beginning of the fiscal year ending March 31, 2022. Therefore, changes fromthe actual figures before applying such Standard and others are not presented.

* Notes:(1) Accounting policies adopted specifically for the preparation of quarterly financial statements: Yes(Note) For details please refer to “2. Quarterly Financial Statements and Primary Notes (3) Notes on Quarterly
Financial Statements (Accounting policies adopted specifically for the preparation of quarterly financialstatements)” on page 7 of the attached document.
(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
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: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the term (including treasury shares):
June 30, 2021: 29,784,400 shares
March 31, 2021: 29,784,400 shares2) Total number of treasury shares at the end of the term:
June 30, 2021: 1,221,812 shares
March 31, 2021: 1,221,812 shares
3) Average number of shares during the term:
Three months ended June 30, 2021: 28,562,588 shares
Three months ended June 30, 2020: 28,562,694 shares* These financial results are outside the scope of the quarterly review by a certified public accountant or an audit
corporation.
* Explanation of the proper use of financial results forecast and other notes(Cautionary note on forward-looking statement)
The earnings forecasts and other forward-looking statements provided herein are based on information that iscurrently available to the Company and certain assumptions that the Company deems reasonable, and the Company
does not in any way guarantee the achievement of the projections. Actual results may differ significantly from theforecasts due to various factors. For details on the assumptions of the earnings forecasts and points to be noted inusing the earnings forecasts, please refer to “1. Qualitative Information on Quarterly Financial Results (3)Explanation of Forecast of Performance Results and Other Forward-Looking Information” on page 3 of theattached document.

2. Financial Statements and Primary Notes(1) Balance Sheets(Millions of yen)
End of Previous Fiscal year
(March 31, 2021)
AssetsCurrent assets
Cash and deposits
Accounts receivable – trade
Merchandise
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable – trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Accounts payable – otherNotes payable – facilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for point card certificates
Asset retirement obligations
Contract liabilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits
Provision for retirement benefits for directors (andother officers)
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

1

End of First Quarter ofCurrent Fiscal Year
(June 30, 2021)40,984
3,034
56,871
1,533(4)
102,419

37,982
3,059
58,7401,759(3)101,538

67,94848,531
104
3,357
119,942
3,204
10,597
133,744
236,164

67,27948,531
99
3,714
119,625
3,295
11,130134,051
235,590

29,98920,245
1,084
5,800
5,081
1,921
1,032

32,65720,080
885
1,871
4,701
1,891
537

28

－

1,033
7
－
4,908
71,131

－
21
3,219
3,847
69,713

708
3,093

533
3,088

367

364

5,835
2,205
12,21083,3425,860
2,615
12,461
82,174

(Millions of yen)
End of Previous Fiscal year
(March 31, 2021)
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

2

End of First Quarter ofCurrent Fiscal Year
(June 30, 2021)

3,538
4,223
147,313(2,351)
152,724

3,538
4,223
147,924(2,351)
153,334

97
97
152,821236,164

81
81
153,415
235,590

(2) Statements of Income
Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit
Operating revenue
Operating gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Commission income
Rental income from buildings
Insurance claim income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental costs on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
Other
Total extraordinary losses
Profit before income taxes
Income taxes
Profit3Three Months Ended
June 30, 2020
(From April 1, 2020
to June 30, 2020)
65,142
42,542
22,599－22,59915,027
7,572

Three Months Ended
June 30, 2021
(From April 1, 2021
to June 30, 2021)
56,23836,672
19,56582
19,64815,191
4,456

0
745
126
14
9
203

0
730
126
17
10
194

31
47
25
103
7,672

28
50
29
109
4,541

18－
18
7,653
2,931
4,722

24
2
27
4,514
1,697
2,817