株式会社中山製鋼所

Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
August 04, 2022
Company name: Nakayama Steel Works, Ltd.
Stock exchange listing: Tokyo
Code number: 5408
URL: https://www.nakayama-steel.co.jp/
Representative: Kazuaki Hakomori,President
Contact: Mitsuaki Sakaguchi,Managing Executive Officer
Phone: 06-6555-3035Scheduled date of filing quarterly securities report: August 10, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 01, 2022 to June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
June 30, 2022
47,796
34.5
3,275
245.3
3,304
331.9
3,097
528.1
June 30, 2021
35,542
32.9
948
17.6
765
(5.4)
493
(45.9)(Note) Comprehensive income:Three months ended June 30, 2022:¥
3,102 million [517.1%]
Three months ended June 30, 2021:¥
502 million [(48.8) %]Basic earnings
per share
Three months ended
June 30, 2022
June 30, 2021

Diluted earnings pershare
YenYen57.23
9.11-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2022
March 31, 2022
(Reference) Equity:

Net assets

Million yen

Million yen

152,491
143,618
As of June 30, 2022:
As of March 31, 2022:

Capital adequacy ratio¥¥

91,26588,931
91,265 million
88,931 million

%

59.8
61.9

株式会社中山製鋼所

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-

4.00

-

12.00

16.00

Fiscal year ending March 31, 2023

-

14.00

20.00

Fiscal year ending March 31, 2023

6.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2023 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings perNet sales
Operating profit
Ordinary profit
to owners ofshareparent
Million yen% Million yen% Million yen

Six months ended
94,000
28.1
7,200
210.3
7,000
September 30, 2022
Full year
198,000
18.8 11,500
58.6 11,000(Note) Revision to the financial results forecast announced most recently:
Yes% Million yen

Yen

238.2

5,200

309.3

96.05

65.3

7,800

62.0

144.08* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:
１(Company name:Yes(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:(3) 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(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022:
63,079,256 shares
March 31, 2022:
63,079,256 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
8,942,678 shares
March 31, 2022:
8,942,656 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
Three months ended June 30, 2021:%

54,136,600 shares
54,136,755 shares))
Yes株式会社中山製鋼所

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operatingMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery and equipment, netLand
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Guarantee deposits
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of June 30,2022

15,765

15,241

31,53839,198

7,386

8,917

17,3383,284
15,815
1,654(94)92,68817,0395,954
14,347901(69)
101,530

6,823
12,992
23,033
1,247
44,097273

6,822
13,12623,022
1,344
44,315
255

2,785
2,352
1,463
(41)
6,559
50,929143,618

2,623
2,351
1,456
(41)
6,390
50,961
152,491

株式会社中山製鋼所(Million yen)
As of March 31,2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of bonds payable
Accounts payable - otherAccrued expenses
Income taxes payableProvision for bonuses
Provision for environmental measures
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for environmental measures
Provision for decommissioning and removal
Provision for loss on business of subsidiaries andassociates
Retirement benefit liability
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
Deferred gains or losses on hedges
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of June 30,2022

21,750
1,356
7,674
42
2,040
1,444
1,565
853
9638
37,37522,433
1,788
13,649
42
2,270
1,659
1,353
401
6
1,305
44,909

27
8,249
3,472
1,001
415
404

27
8,092
2,660
1,001
417
404

42

43

2,577
1,121
17,311
54,686

2,598
1,072
16,316
61,22520,044
7,826
58,364(775)
85,45920,044
7,826
60,822(775)
87,9171,043

925(0)
2,444
(16)
3,471
88,931
143,618

0
2,435
(13)
3,348
91,265
152,491

株式会社中山製鋼所

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Million yen)
For the three months
ended June 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodAmortization of negative goodwill
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of scraps
Gain on sale of non-current assets
Reversal of provision for environmental measures
Reversal of provision for loss on business ofsubsidiaries and associates
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Provision for loss on business of subsidiaries andassociates
Loss on valuation of golf club membership
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the three months
ended June 30,2022

35,542
31,6193,922

47,796
41,504
6,291

1,443
1,530
2,974
948

1,278
1,737
3,016
3,275

13
33

13
43

25

47

030
102

66
171

22
37
226
286
765

50
37551423,304

711315
3-

7-

27

11331

41

10-

12
144
747
227
27254
493
493

12
3,623
1,288(763)
525
3,097
3,097

株式会社中山製鋼所

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Million yen)
For the three months
ended June 30,2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive incomeComprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

For the three months
ended June 30,2022
493

3,097

40
5

1
0
3(0)

0

9
502

4
3,102

502

3,102--