Financial Results for First Quarter of Fiscal Year Ending March 31, 2025
[Japanese GAAP] (Consolidated Data)
August 9, 20254
Company Name: Nikko Co., Ltd.
Stock Code:

Stock Exchange Listing: Tokyo Stock Exchange

6306

URL: https://www.nikko-net.co.jp

Representative: Director and President
Director and Vice President /For inquiries:
General Manager of Administrative Division
Scheduled Date for Cash Dividends:

Masaru Tsuji
Hiroshi Fujii

Tel: +81-78-947-3141

Quarterly Earnings Supplementary Explanatory Materials Yes
Quarterly Financial Results Briefing Session

Yes (for institutional investors, analysts, and newspaper
reporters)(Amounts rounded down to the nearest million yen)
1. Consolidated Performance for First Quarter of Fiscal Year Ending March 31, 2025 (April 1, 2024 – June 30, 2024)(1) Consolidated Operating Results (Cumulative)(% Represents year-on-year change rate from the same period)
Quarterly Net Income
Net Sales
Operating Income
Ordinary Income
Attributable to
Owners of Parent
million yen% million yen% million yen% million yen%
Three months ended June 30, 2025
9,849
16.6
462
–
625
827.4
337 1,133.1
Three months ended June 30, 2024
8,446 (11.1)(99)–
67 (79.4)
27 (80.5)
Note: Comprehensive income:Three months ended June 30, 2025 747 million yen(1.4%)
Three months ended June 30, 2024 736 million yen (196.2%)

yen
8.79
0.71

Diluted Quarterly
Net Income Per
Share
yen
–
–

Total Assets
million yen
64,69362,229Net Assets
million yen
33,19433,086

Reference: Capital: Three months ended June 30, 2025

33,189 million yen

Three months ended June 30, 2024

33,028 million yen

Quarterly Net
Income Per ShareThree months ended June 30, 2025
Three months ended June 30, 2024

(2) Consolidated Financial Condition

As of June 30, 2024
As of March 31, 2024

Equity Ratio

Net Assets Per Share
%
yen
51.3
865.9353.1
861.74

2. Dividends
End of 1Q
yen––

Annual Dividends
End of 2Q
End of 3Q
Year-end
yen
yen
yen
15.00
–
15.00

Total
yen
30.00

15.00

30.00

Fiscal year ended March 31, 2024
Fiscal year ending March 31, 2025
Fiscal year ending March 31, 2025 (forecasts)
15.00–
Note: Revision of previously announced dividend targets during this reporting period: None1

3. Consolidated Performance Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 – March 31, 2025)(Percentages indicate year-on-year changes from full fiscal year and first half of the previous fiscal year, respectively)
Net Income Attributable Net Income
to Owners of Parent Per Sharemillion yen% million yen% million yen% million yen%yen
2Q (first half)
23,000
35.4
1,300
382.0
1,300
185.4
850
144.1
22.19
Full year
48,000
8.8
2,600
32.1
2,600
21.2
1,700
29.5
44.37
Note: Revision of previously announced earnings forecasts during this reporting period: Yes
Net Sales*

Operating Income

Ordinary Income

Notes:(1) Significant changes in the scope of consolidation during the reporting period: None

(2) Use of special accounting methods for preparation of quarterly consolidated financial statements: None

(3) Changes in accounting policy, accounting estimates, and retrospective restatements:(i) Changes in accounting policy arising from revision of accounting standards, etc.: None(ii) Changes in accounting policy other than those noted in (i) above:None(iii) Changes in accounting estimates:None(iv) Retrospective restatements:
None(4) Issued Shares (Common Stock)(i) Number of issued shares at period-end As of June 30, 2024
(including treasury shares)(ii) Number of treasury shares at period- As of June 30, 2024
end(iii) Average number of shares outstanding Three months ended(quarter-to-date)June 30, 2024

40,000,000 As of June 30, 2024
shares

1,671,821 As of June 30, 2024
shares38,328,179 Three months ended
shares June 30, 2024

40,000,000
shares

1,671,626
shares38,276,428
shares*This quarterly report is not subjected to review by certified public accountants or an external auditing firm.

*

Explanation of the Appropriate Use of Earnings Forecasts and Other Special Notes(Cautionary Statement Regarding Forward-Looking Statements)
Any forecasts and forward-looking statements included in this report are based on information available at the time ofthis report’s publication and certain assumptions considered reasonable. These forecasts are not guarantees of future
performance, and actual results may vary significantly due to a variety of factors. For further details on the assumptions
underlying these forecasts and other notice regarding the use of earnings forecasts, please refer to "1. Qualitative
Information on Quarterly Results: (3) Explanation About Forward-Looking Statements, Including Forecast ofConsolidated Financial Results" on page 3 of the accompanying materials.
(How to Obtain Quarterly Earnings Supplementary Explanatory Materials)
The Company will post its quarterly earnings supplementary explanatory materials on its website on Friday, August 9,
2024.
The Company will also hold a live-streamed financial results briefing for securities analysts on Monday, September 9,
2024.

2

Accompanying Material – Table of Contents
1. Qualitative Information on Quarterly Results ................................................................................................................... 2(1) Explanation About Operating Results ........................................................................................................................ 2(2) Explanation About Financial Position......................................................................................................................... 3(3) Explanation About Forward-Looking Statements, Including Forecast of Consolidated Financial Results .................. 3
2. Quarterly Consolidated Financial Statements and Notes ................................................................................................ 4(1) Quarterly Consolidated Balance Sheet ...................................................................................................................... 4(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income .... 6(i)Quarterly Consolidated Statement of Income ......................................................................................................... 6
Three Months Ended June 30, 2024....................................................................................................................... 6(ii) Quarterly Consolidated Statements of Comprehensive Income.............................................................................. 7
Three Months Ended June 30, 2024....................................................................................................................... 7(3) Notes to Quarterly Consolidated Financial Statements ......................................................................................... - 7 Note on Going Concern Assumption ......................................................................................................................... - 7 Note on Significant Changes in the Amount of Shareholders' Equity ......................................................................... - 7 Notes to Consolidated Quarterly Cash Flow Statement ............................................................................................. - 7 Notes on Segment Information and Other Disclosures: ................................................................................................. 8
Changes in Accounting Policies ..................................................................................................................................... 9

1

1. Qualitative Information on Quarterly Results(1) Explanation About Operating Results
During the first quarter of the consolidated cumulative period, the global economic situation has been gradually
recovering. However, high geopolitical risks and China's ongoing economic slowdown contribute to an uncertain
environment. In Japan, despite the benefits of price pass-through and stronger inbound demand, the persistent costpressures from yen depreciation remain significant. Moreover, personal consumption is weak due to the decline in real
wages driven by high inflation.
In this context, the recovery in capital investment demand from our major road paving customers has driven an
increase in sales for our maintenance business, as well as higher revenues in our manufacturing subcontracting
operations. As a result, sales for the first quarter of the consolidated cumulative period reached 9,849 million yen,marking a 16.6% increase compared to the same quarter last year. Operating income saw a significant turnaround to462 million yen, compared to a loss of 99 million yen in the same quarter last year, thanks to increased sales and priceadjustments in response to rising raw material costs. Consolidated ordinary income rose sharply to 625 million yen,marking an 827.4% increase, while net income attributable to the owners of parent surged to 337 million yen, reflecting
a remarkable 1,133.1% increase compared to the same period last year.
Results by segment are as follows.
 Asphalt Plant-Related Business
Both domestic and international sales decreased compared to the previous period. However, sales in domestic
maintenance business increased compared to the previous year. As a result, total sales in this segment were 3,746
million yen, down 1.3% from the previous year. On a positive note, both order intake and order backlog increased
compared to the same quarter last year, indicating a strong pipeline for future growth.
 Concrete Plant-Related Business
Similarly, the concrete plant-related business declined in both domestic and international sales, although domestic
maintenance sales increased. Total sales in this segment were 2,217 million yen, a 4.2% decrease from the previous
year. However, order intake and order backlog both increased compared to the same quarter last year, suggestinga promising outlook for future growth.
 Environment and Conveyor-Related BusinessTotal sales in this segment were 772 million yen, which is a 20.1% rise from the previous year. In the first quarter,
while order intake decreased compared to the same quarter last year, the order backlog increased.
 Crusher-Related BusinessTotal sales in this segment reached 640 million yen, up 15.9% from the previous year. Both order intake and orderbacklog increased compared to the same quarter last year.
 Contract-Based Manufacturing BusinessTotal sales in this segment reached 1,550 million yen, marking a substantial 576.0% increase from the previous year.
Order intake and order backlog both increased compared to the same quarter last year.
 Other BusinessTotal sales in this segment rose by 1.2% to 922 million yen. Both order intake and order backlog increased comparedto the same quarter last year.

2(2) Explanation About Financial Position
As of the end of the first quarter, total assets amounted to 64,693 million yen, an increase of 2,463 million yen comparedto the end of the previous fiscal year.
Assets Current Assets: Current assets were 42,656 million yen, up 1,623 million yen from the end of the previous fiscal year.
This increase is primarily due to rises in work in progress by 2,427 million yen, cash and cash equivalents by 890
million yen, and electronically recorded monetary claims by 545 million yen. However, accounts receivable–tradedecreased by 2,726 million yen, and notes receivable declined by 109 million yen.
 Non-Current Assets: Non-current assets amounted to 22,036 million yen, an increase of 840 million yen from theend of the previous fiscal year. The main contributors to this increase were higher amounts in construction in progressby 289 million yen, investment securities by 219 million yen, and machinery and transport equipment by 134 million
yen.
Liabilities
 Total Liabilities: Total liabilities reached 31,498 million yen, an increase of 2,355 million yen compared to the previous
fiscal year-end. This increase was mainly due to rises in contract liabilities by 2,837 million yen, accounts payable–
other by 758 million yen, notes and accounts payable–trade by 357 million yen. On the other hand, there was adecrease in accrued bonuses by 421 million yen and unpaid corporate taxes by 520 million yen.
Equity Net Assets: Net assets were 33,194 million yen, up 108 million yen from the previous fiscal year-end. The increase
is attributed to rises in foreign currency translation adjustments by 227 million yen and unrealized gains on othersecurities by 152 million yen, despite a decrease in retained earnings by 237 million yen.
 Equity Ratio: As a result, the equity ratio decreased to 51.3% from 53.1% at the end of the previous fiscal year(3) Explanation About Forward-Looking Statements, Including Forecast of Consolidated Financial Results
There are no changes to the earnings forecast for the fiscal year ending March 2025, as previously announced on May
15, 2024.

3

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet(million yen)
As of March 31, 2024
AssetsCurrent assets
Cash and cash equivalents
Notes receivable–trade
Accounts receivable–trade
Electronically recorded monetary claims
Merchandise and finished goods
Work in process
Raw materials and supplies
Other business
Allowance for doubtful accounts
Total current assets
Non-current assets
Property and equipment
Buildings and structures (net)Land
Construction in progress
Other (net)Total property, plant and equipment
Intangible assets
Goodwill
Other businessTotal intangible assets
Investments and other assets
Investment securities
Investments in capital
Long-term loans receivable
Deferred tax assets
Other business
Allowance for doubtful accounts
Total investments and other assets
Total noncurrent assets
Total assets

4

As of June 30, 2024

15,551
1,773
8,975
2,419
1,631
8,323
1,695
664
(1)
41,033

16,442
1,663
6,249
2,965
2,111
10,750
1,612
862
(0)
42,656

6,175
4,204
1,078
1,788
13,247

6,294
4,228
1,368
1,936
13,828

196
1,011
1,208

188
1,000
1,189

5,248
107
13
549
951
(130)
6,740
21,19662,229

5,468
107
11
564
996
(129)
7,019
22,03664,693

(million yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes and accounts payable–trade
Electronically recorded obligations
Accounts payable–factoring
Short-term loans payable
Income taxes payable
Accounts payable–other
Advances received
Contract liabilities
Provision for bonuses
Provision for directors' bonuses
Provision for loss on order received
Other businessTotal current liabilities
Long-term liabilities
Long-term loans payable
Deferred tax liabilities
Provision for directors' retirement benefits
Retirement benefit-related liabilities
Other businessTotal noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Deferred gains or losses on hedges
Accumulated retirement benefit-related adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of June 30, 2024

3,256
1,296
2,868
6,166
965
700
17
4,625
610
98
82
1,054
21,743

3,613
1,276
2,936
6,104
444
1,459
17
7,463
188
27
67
515
24,114

4,550
170
206
2,140
330
7,399
29,143

4,514
192
181
2,137
356
7,383
31,498

9,197
7,787
13,791(738)
30,038

9,197
7,760
13,553(738)
29,773

2,335
696
21
(62)
2,990
57
33,08662,229

2,488
924
62
(59)
3,415
5
33,19464,693

(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income(i) Quarterly Consolidated Statement of Income
Three Months Ended June 30, 2024

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividends income
Foreign exchange gains
Other businessTotal non-operating income
Non-operating expenses
Interest expenses
Compensation for damage
Other businessTotal non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on sale of non-current assets
Total extraordinary income
Extraordinary loss
Loss on sales of investment securities
Total extraordinary loss
Income before income taxes
Income taxes–current
Income taxes–deferred
Total income taxes
Quarterly net income
Quarterly loss attributable to non-controlling interests
Quarterly net income attributable to owners of parent(million yen)Three months ended
Three months ended
June 30, 2023
June 30, 2024
(April 1, 2023 – June 30, 2023) (April 1, 2024 – June 30, 2024)
8,446
9,849
6,201
6,780
2,244
3,068
2,343
2,605
(99)
462

6

0
96
74
35
206

0
114
54
26
196

24
12
3
40
67

22
–
10
33
625

–
–
–

3
0
3

–
–
67
88
(38)
50
17
(10)
27

0
0
627
368
(76)
292
335
(2)
337

(ii) Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30, 2024

Quarterly net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Retirement benefit-related adjustment
Total other comprehensive income
Quarterly comprehensive income(Breakdown)
Quarterly comprehensive income attributable toowners of parent
Quarterly comprehensive income attributable tonon-controlling interests(million yen)Three months ended
Three months ended
June 30, 2023
June 30, 2024
(April 1, 2023 – June 30, 2023) (April 1, 2024 – June 30, 2024)
17
335
631
27
57
3
719
736

152
40
215
3
412
747

756

762

(19)

(14)

(3) Notes to Quarterly Consolidated Financial Statements
Note on Going Concern Assumption
There are no relevant matters to report.
Note on Significant Changes in the Amount of Shareholders' Equity
There are no relevant matters to report.
Notes to Consolidated Quarterly Cash Flow Statement
A quarterly consolidated statement of cash flows for the first quarter of the current fiscal year has not been prepared.
However, depreciation expenses (including amortization of intangible fixed assets excluding goodwill) and theamortization of goodwill for the first quarter of the current fiscal year are as follows.
(million yen)Three months ended
June 30, 2023
(April 1, 2023 – June 30, 2023)

Three months ended
June 30, 2024
(April 1, 2024 – June 30, 2024)

220
4

257
7

Depreciation expense
Amortization of goodwill

7

Notes on Segment Information and Other Disclosures[Segment Information](i) First Quarter Consolidated Cumulative Period for the Previous Year (April 1, 2023 – June 30, 2023)
a. Information on Sales and Profit or Loss by Reportable Segment(million yen)
Reportable segments
Asphalt
Concrete Environment andplant-related plant-related conveyor-related
businessbusinessbusiness
Net sales
Sales to externalcustomers
Inter-segment sales
or transfers
Total

Crusherrelated
business

Contract-based
manufacturingbusiness

Other(Note)

Total

Total

3,795

2,313

643

552

229

7,534

911

8,446

–

–

5

–

–

5

65

71

3,795

2,313

649

552

229

7,540

976

8,517

Segment profit/loss
(92)
169
126
22
(16)
210
98
308
Note: The "Other" category includes business segments that are not classified as reportable segments. It comprises theconstruction machinery business, hand tool business, and waterproof board business.

b. The difference between the total amount of profit or loss for the reportable segments and the amount recordedin the quarterly consolidated statement of income, as well as the main components of this difference (items
related to reconciliation)(million yen)
Profit/Loss
AmountTotal of reportable segments
210
Profit for “Other” category
98
Corporate expenses (Note)(407)
Operating Loss in the Quarterly Consolidated Income Statement(99)
Note: Corporate expenses primarily consist of costs associated with department such as planning and management thatare not attributable to the reportable segments.

8

(ii) First Quarter Consolidated Cumulative Period (April 1, 2024 – June 30, 2024)
a. Information on Sales and Profit or Loss by Reportable Segment(million yen)
Reportable segments
Asphalt
Concrete Environment andplant-related plant-related conveyor-related
businessbusinessbusiness
Net sales
Sales to externalcustomers
Inter-segment sales
or transfers
Total
Segment profit/loss

Crusherrelated
business

Contract-based
manufacturingbusiness

Other(Note)

Total

Total

3,746

2,217

772

640

1,550

8,927

922

9,849

–

–

2

–

–

2

46

49

3,746

2,217

775

640

1,550

8,930

968

9,899

179

241

162

54

229

868

37

905

Note: The "Other" category includes business segments that are not classified as reportable segments. It comprises theconstruction machinery business, hand tool business, and waterproof board business.
b. The difference between the total amount of profit or loss for the reportable segments and the amountrecorded in the quarterly consolidated statement of income, as well as the main components of this difference(items related to reconciliation)(million yen)
Profit/Loss
AmountTotal of reportable segments
868
Profit for “Other” category
37
Corporate expenses (Note)(442)
Operating income in the quarterly consolidated income statement462
Note: Corporate expenses primarily consist of costs associated with departments such as planning and management,that are not attributable to the reportable segments.
Changes in Accounting Policies
There are no relevant matters to report.

9