Non-Consolidated Financial Results
for the Three Months Ended June 30, 2018
[Japanese GAAP]
August 10, 2018
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 10, 2018
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, 2018 (April 1, 2018 to June 30, 2018)(1) Operating Results (cumulative)(Percentages refer to changes from the corresponding period of the preceding fiscal year.)Net sales
Three months
ended
June 30, 2018
June 30, 2017

Operating income

Millions of yen%

58,886
60,842

(3.2)
(1.5)

Net income pershare

Three months
ended
June 30, 2018
June 30, 2017

Millions of yen

Ordinary income%Millions of yen

3,043 (19.9)
3,799 (6.1)

Net income%Millions of yen%

3,159 (18.7)
3,885 (5.5)

1,616
1,963(17.7)
32.4

Diluted net
income per share

Yen

Yen

55.78
65.90

-Total assets

Net assets

Millions of yen

Millions of yen%

Yen

136,220
As of June 30, 2018
224,790
137,503
As of March 31, 2018
224,507(Reference) Equity: As of June 30, 2018: ¥136,220 million
As of March 31, 2018: ¥137,503 million

60.6
61.2

4,769.14
4,616.67(2) Financial Position
Equity ratio

Net assets per share2. Dividends
Annual dividends
1st2nd3rdYear-end
quarter-end quarter-end quarter-end
Fiscal year ended
March 31, 2018
Fiscal year ending
March 31, 2019
Fiscal year ending
March 31, 2019
(Forecast)

TotalYenYenYen

YenYen-

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, 2019 (April 1, 2018 to March 31, 2019)(% indicates changes from the previous corresponding period.)
Net sales
Millions of yen

Operating income% Millions of yen%

Ordinary income
Millions of yen

Net incomeper share

Net income%Millions of yen

First half
116,300 (0.9)
5,600 (1.1)
5,700 (3.3)(Cumulative)
Full year
226,000 0.2
8,800 15.0
9,000 11.2
(Note) Revision from the most recently announced projected operating results: None%

Yen

3,100(1.5)

107.774,700

7.3

163.97* 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, 2018: 29,784,400 shares
March 31, 2018: 29,784,400 shares2) Total number of treasury stock at the end of the term:
June 30, 2018: 1,221,594 shares
March 31, 2018: 294 shares
3) Average number of shares during the term:
Three months ended June 30, 2018: 28,969,906 shares
Three months ended June 30, 2017: 29,784,106 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, 2018)
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
LiabilitiesCurrent liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Accounts payable – otherNotes payable – facilities
Provision for bonuses
Provision for directors’ bonuses
Provision for point card certificates
Asset retirement obligations
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Provision for retirement benefits
Provision for directors’ retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities

1End of First Quarter ofCurrent Fiscal Year
(June 30, 2018)27,1182,849
56,2631,611(1)87,841

26,8292,609
58,0241,843(1)89,30470,50447,937329
4,201
122,973
2,898
10,793
136,666
224,507

69,63247,860353
4,018
121,865
2,867
10,753
135,486
224,790

31,265
22,630
2,724
1,838
4,198
1,723
1,055
31
1,245
43
3,267
70,02434,142
22,630
2,454
1,157
5,842
1,650
537
－
1,228
31
3,201
72,878

4,810
3,164
1,554
5,271
2,179
16,98087,004

4,273
3,190
946
5,3111,970
15,692
88,570(Millions of yen)
End of Previous Fiscal year
(March 31, 2018)
Net assets
Shareholders’ equity
Capital stock
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, 2018)

3,538
4,223
129,586(0)137,347

3,538
4,223
130,636(2,350)136,047

156
156
137,503
224,507172
172
136,220
224,790

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

60,84240,65620,186
16,386
3,799

End of First Quarter ofCurrent Fiscal Year
(From April 1, 2018
to June 30, 2018)
58,88639,812
19,074
16,031
3,043

6
6
38
58
4
47
162

0
6
37
78
57
32
212

41
27
876
3,885

39
37
18
95
3,159

0
9
989－89

8669
－
14
692
3,202
1,239
1,963

3
311
290
7612
2,636
1,020
1,616

Previous Fiscal year
(From April 1, 2017
to June 30, 2017)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Commission fee
House rent income
Insurance income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rent cost of real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assets
Insurance income
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment loss
Directors’ retirement benefits
Other
Total extraordinary losses
Profit before income taxes
Income taxes
Profit3