Non-Consolidated Financial Results
for the Three Months Ended June 30, 2019
[Japanese GAAP]
August 9, 2019
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 9, 2019
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Not available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts below one million yen are truncated.)
1. Financial and Operating Results for the Three Months Ended June 30, 2019 (April 1, 2019 to June 30, 2019)(1) Operating Results (cumulative)(Percentages refer to changes from the corresponding period of the preceding fiscal year.)Net sales
Three months
ended
June 30, 2019
June 30, 2018

Three months
ended
June 30, 2019
June 30, 2018

Operating income

Ordinary income

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

58,31858,886

(1.0)
(3.2)

3,175
3,043

4.3(19.9)

3,292
3,159

4.2(18.7)

1,982
1,616

22.7
(17.7)Net income per

Diluted net
income per share

Yen

Yen

69.42
55.78

-Total assets

Net assets

Millions of yen

Millions of yen%

Yen

139,940
138,540

62.0
62.3

4,899.38
4,850.37

share(2) Financial Position

As of June 30, 2019
225,578
As of March 31, 2019
222,501(Reference) Equity: As of June 30, 2019: ¥139,940 million
As of March 31, 2019: ¥138,540 million

Equity ratio

Net assets per share2. Dividends
Annual dividends
1st
2nd
3rd
Year-endquarter-end quarter-end quarter-end
Fiscal year ended
March 31, 2019
Fiscal year ending
March 31, 2020
Fiscal year ending
March 31, 2020(Forecast)

TotalYen

YenYenYen

Yen-

19.00

-

19.00

38.00

19.00

-

19.00

38.00

-(Note) Revision from the most recently announced dividend forecast: None
3. Projected Operating Results for the Fiscal Year Ending March 31, 2020 (April 1, 2019 to March 31, 2020)(% indicates changes from the previous corresponding period.)
Net sales
Millions of yen

Operating income% Millions of yen%Ordinary income
Millions of yen

Net income
per shareNet income%Millions of yen

First half
118,854 3.1
6,558 34.9
6,850 34.2
(Cumulative)
Full year
224,997 0.8
8,426 20.4
8,971 19.2
(Note) Revision from the most recently announced projected operating results: None%

Yen

3,810 49.1

133.394,781

167.385.8* 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: No
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 stock):
June 30, 2019: 29,784,400 sharesMarch 31, 2019: 29,784,400 shares2) Total number of treasury stock at the end of the term:
June 30, 2019: 1,221,594 shares
March 31, 2019: 1,221,594 shares
3) Average number of shares during the term:
Three months ended June 30, 2019: 28,562,806 shares
Three months ended June 30, 2018: 28,969,906 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 First Quarter ofCurrent Fiscal Year
(June 30, 2019)

End of Previous Fiscal year
(March 31, 2019)
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 assetsTotal 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
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

23,0883,312
57,6191,562(1)85,581

25,822
2,816
58,8711,681(1)89,19069,493
48,685
1,003
4,161
123,344
2,915
10,660136,920
222,501

69,478
48,685644
4,123
122,932
2,914
10,541
136,388
225,578

30,494
22,465
1,896
1,071
4,260
3,861
1,010

32,81021,455
1,808
1,373
5,022
3,543
513

26

－

1,199
46
3,001
69,333

1,194
75
3,255
71,053

2,914
3,162

2,948
3,149

975

958

5,405
2,169
14,62883,9615,400
2,126
14,584
85,637

(Millions of yen)
End of Previous Fiscal year
(March 31, 2019)
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, 2019)

3,538
4,223
132,996(2,350)138,407

3,538
4,223
134,437(2,350)139,847

132132138,540
222,501

9292
139,940
225,578

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

Net sales
Cost of sales
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 cost on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Retirement benefits for directors (and other officers)
Loss on cancellation of rental contracts
OtherTotal extraordinary losses
Profit before income taxes
Income taxes
Profit3

Three Months Ended
June 30, 2018
(From April 1, 2018
to June 30, 2018)
58,88639,812
19,074
16,031
3,043

Three Months Ended
June 30, 2019
(From April 1, 2019
to June 30, 2019)58,31839,147
19,171
15,996
3,175

0637
78
57
32
212

0
742
114
934
208

39
37
1895
3,159

35
44
1090
3,292

89
89

333311
290－
7612
2,636
1,020
1,616

34
8－
28
0
71
3,224
1,241
1,982