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Consolidated Financial Results
for the Six Months Ended September 30, 2023
[Japanese GAAP]
November 8, 2023
Company name: NIHON TOKUSHU TORYO CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 4619
URL: https://www.nttoryo.co.jp
Representative: Hiroshi Onda, President, COO
Contact: Yosuke Rikitake, CFO & Managing Executive Officer
Phone: +81-3-3913-6134
Scheduled date of filing quarterly securities report:
November 10, 2023
Scheduled date of commencing dividend payments:
December 1, 2023
Availability of supplementary explanatory materials on quarterly financial results: No
Schedule of quarterly financial results briefing session: Yes (for analysts and institutional investors)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 - September
30, 2023)(1) Consolidated Operating Results (cumulative)(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Six months ended
Million yen%
Million yen%
Million yen%
Million yen%
–2,590
166.4
1,798
429.8
31,34812.3
1,404
September 30, 2023
27,916
11.3
2 (98.1)
972
24.9
339
187.4
September 30, 2022
(Note) Comprehensive income Six months ended September 30, 2023: ¥4,707 million [68.6%]
Six months ended September 30, 2022: ¥2,791 million [49.4%]
Basic earnings
Diluted earnings
per shareper share
Six months ended
Yen
Yen
82.71
September 30, 2023–
15.62
September 30, 2022–
(2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Million yen%

84,66055,747
As of September 30, 2023
82,033As of March 31, 2023
52,211(Reference) Equity As of September 30, 2023: ¥49,884 million
As of March 31, 2023: ¥46,193 million

58.9
56.3

-1-2. Dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-endYen

Yen

Yen

Year-end

Fiscal year ended–
20.00–
March 31, 2023
Fiscal year ending–
21.00
March 31, 2024
Fiscal year ending
March 31, 2024–(forecast)(Note) Revision to the forecast for dividends announced most recently: None

Total
Yen

Yen

22.00

42.00

23.00

44.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parentper shareMillion yen%

Yen

Full year
63,200
4.1
2,800
71.6
4,600
46.4
2,950(Note) Revision to the financial results forecast announced most recently: None

Million yen% Million yen% Million yen%

40.3

135.68* Notes:(1) Changes in significant subsidiaries during the period under review: No(Changes in specified subsidiaries resulting in changes in scope of consolidation)
Newly included: –(Company name: – )Excluded: –(Company name: – )(2) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: Yes(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 and outstanding shares (common shares)
1) Total number of issued and outstanding shares at the end of the period (including treasury shares):
September 30, 2023:
23,611,200 shares
March 31, 2023:
23,611,200 shares2) Total number of treasury shares at the end of the period:
September 30, 2023:
1,864,528 shares
March 31, 2023:
1,873,135 shares
3) Average number of shares during the period (cumulative from the beginning of the fiscal year):Six months ended September 30, 2023:
21,740,199 shares
Six months ended September 30, 2022:
21,725,365 shares-2-Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Income taxes refund receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-3-

As of September 30, 2023

10,87012,99915,131

14,295

3,362
1,670
888
1,583
37
2,470
(2)
36,013

3,798
1,729
1,281
1,485
13
521
(2)
36,122

10,234
7,732
4,679
466
1,187
24,29910,083
7,417
4,679
151
1,144
23,476

1,247
1,247

1,302
1,302

18,423
156
88
1,863
(57)
20,47346,02082,033

21,370150
100
2,194(57)
23,75848,537
84,660(Million yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Lease liabilities
Income taxes payable
Provision for bonuses for directors (and other officers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease liabilities
Retirement benefit liability
Deferred tax liabilities
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-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-4-

As of September 30, 2023

9,882
3,921
5,314
7
469
75
3,924
23,595

10,171
3,779
4,236
10
469
–
3,869
22,537

2,045
17
3,213
842
107
6,226
29,822

1,530
19
3,243
1,461
121
6,376
28,913

4,753
4,207
31,734(1,102)
39,592

4,753
4,212
33,051(1,098)40,919

4,273
2,180
147
6,601
6,01752,211
82,033

5,410
3,421
133
8,965
5,862
55,747
84,660Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Share of profit of entities accounted for using equity
methodSubsidies for employment adjustment
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Insurance claim income
Gain on sale of investment securities
Compensation income
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the six months
ended September 30, 2022
27,91623,209
4,707
4,704
2

For the six months
ended September 30, 2023
31,34825,016
6,331
4,926
1,404

130

117

495

729

17255
119
1,019–233
145
1,225282049
972

26
1340
2,590

68–
740
116

1123–
–
34

74
74
1,015
366
648
309
339

13
13
2,612
607
2,004
206
1,798-5-Quarterly Consolidated Statements of Comprehensive Income(Million yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

For the six months
ended September 30, 2022
648

For the six months
ended September 30, 2023
2,004(540)
1,107
(14)

1,124
667
(8)

1,590

919

2,142
2,791

2,702
4,707

1,946

4,162

845

544-6-Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended September 30, 2022

For the six months
ended September 30, 2023

1,015
1,629
(39)
(185)
28

2,612
1,589
12(177)26(495)

(729)

(67)
72(7)
–454
125(55)
(582)
1,893
747
(30)
–(656)
128
2,081

(7)
9–
(23)
510
(320)
103
(19)
3,585
772
(25)
23(606)31
3,781(1,303)

(694)

92

9(5)
10
29
36(1,139)

(5)
–
1,518
(6)
822

539
(747)
–
(476)
(435)
1(1,119)

(950)
(642)
(0)
(479)
(733)
(3)
(2,810)

355

335

178
8,931
9,109

2,128
10,853
12,982

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale of non-current assets
Loss (gain) on disposal of non-current assets
Loss (gain) on sale of investment securities
Insurance claim income
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Proceeds from insurance income
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment andintangible assets
Proceeds from sale of property, plant and equipment andintangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period-7-