Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Year Ended March 31, 2024
(Based on Japanese GAAP)May 14, 2024
Company name:

NISSEI PLASTIC INDUSTRIAL CO., LTD.

Stock exchange listing: Tokyo, Nagoya
Stock code:
6293
URL
Representative:
Inquiries:

https://www.nisseijushi.co.jp

President & Representative Director
Director

Hozurni YodaKauyoshi Horiuchi

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 26, 2024
June 26, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:

June 27, 2024
Yes

Holding of financial results meeting:

Yes

TEL

0268-82-3000(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the year ended March 31, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Year ended March 31, 2024
47,068(9.8)
1,724(35.7)
1,340(44.8)
376(79.5)
Year ended March 31, 2023
52,205
7.1
2,682
4.0
2,427(17.4)
1,835(31.5)
Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen%%%
19.11
0.9
1.6
3.7
92.07
4.8
3.3
5.1Diluted earnings pershare

Earnings per share
Yen
19.57
94.13

Year ended March 31, 2024
Year ended March 31, 2023
(2) Consolidated financial position

Total assets
As of March 31, 2024
As of March 31, 2023

Net assets

Equity ratio

Millions of yen
86,63977,645

Millions of yen
40,27839,663

Cash flows fromoperating activities
Millions of yen(8,222)(4,155)

Cash flows frominvesting activities
Millions of yen(4,244)(1,572)

Net assets per share%
46.1
50.7

Yen
2,098.33
2,017.08(3) Consolidated cash flows

Year ended March 31, 2024Year ended March 31, 2023

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
9,268
8,454
6,127
11,301

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

YenYenYenYen

Yen

Millions of yen%%––20.0015.00

––

15.00
20.00

35.00
35.00

682
669

37.2
178.9

1.8
1.7

–

15.00

–

20.00

35.00

1

111.1

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Millions of yen
Six months ending
September 30, 2024
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen

19,500(13.6)

250(67.7)350(56.3)

150(73.5)

7.88

45,500(3.3)

1,050(39.1)

1,150(14.2)

600

59.5

31.52

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNoRestatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

22,272,000 shares As of March 31, 2023

22,272,000 shares

Number of treasury shares at the end of the period
As of March 31, 2024

3,234,455 shares As of March 31, 2023

2,768,705 shares

19,220,470 shares Year ended March 31, 2023

19,503,295 shares

Average number of shares during the period
Year ended March 31, 2024

2Consolidated financial statementsConsolidated balance sheets(Millions of yen)
As of March 31, 2023

As of March 31, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

11,301
8,015

8,454
7,213

Electronically recorded monetary claims - operating
Merchandise and finished goods

606
13,070959
18,864Work in process
Raw materials and supplies

6,415
13,7176,700
13,401

Accounts receivable - other
Income taxes refund receivable

3,438
–

2,837
162

Other
Allowance for doubtful accounts

1,783(406)

3,888(290)

Total current assets

57,94162,192

15,436(9,026)

16,021(9,454)

Buildings and structures, net

6,409

6,567

Machinery, equipment and vehicles
Accumulated depreciation

6,284(4,740)

8,083(5,396)

1,543

2,687

4,413
(4,138)4,454(4,226)

275

228

4,774
701

4,841
868

Accumulated depreciation

(304)

(384)

Leased assets, net

396

483

Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets

Construction in progress

937

4,041

14,336

18,84885

Other515

398

Total intangible assets

524404

Investment securities
Deferred tax assets

2,223
2,380

2,652
1,936

Retirement benefit asset
Other36204

39567

Total property, plant and equipment
Intangible assets
Leased assets

Investments and other assets

Allowance for doubtful accounts

(1)

(1)

Total investments and other assets

4,842

5,194

19,70324,447

77,64586,639Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2023As of March 31, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade

13,386

10,109

4,503
2,254

10,7783,117

Lease liabilities
Income taxes payable

190
417

178
–Provision for bonuses
Provision for product warranties

95
241

96
127

Short-term borrowings
Current portion of long-term borrowings

Other

5,139

6,455

Total current liabilities

26,22930,862Long-term borrowings
Lease liabilities

8,325
264

12,017
353

Deferred tax liabilities
Retirement benefit liability

17
2,979

10
2,948

110
53

110
57

11,752

15,49837,981

46,360Shareholders' equity
Share capital

5,362

5,362

Capital surplus
Retained earnings

5,295
27,0975,307
26,892

Treasury shares(1,539)(2,030)Total shareholders' equity

36,21535,532

908
(0)

1,066
–

Foreign currency translation adjustment
Remeasurements of defined benefit plans

2,199
16

3,358
(9)

Total accumulated other comprehensive income

3,123

4,414

322
1330
1

39,66340,27877,64586,639Non-current liabilities

Long-term accounts payable - other
Other
Total non-current liabilities
Total liabilities
Net assetsAccumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales

52,20547,068

Cost of sales

36,00532,033Gross profit

16,20015,034

Selling, general and administrative expenses

13,51813,310Operating profit

2,682

1,724

Non-operating income
Interest income

3789

Dividend income
Purchase discounts

88
28

109
24

Gain on valuation of derivatives
Rental income

84
27–
26Commission income
Electricity sale income

1824

18
22

Other

179

183

Total non-operating income

489

475

Interest expenses
Foreign exchange losses

121535202
600

Electricity sale expenses
Other

679

649

Non-operating expenses

Total non-operating expenses

743

859

2,427

1,340

Gain on bargain purchase
Gain on liquidation of subsidiaries and associates––

152
101

Total extraordinary income–

254

Profit before income taxes

2,427

1,594

Income taxes - current
Income taxes - deferred

1,178(563)

751
466

615

1,218

1,812

376(23)

–

1,835

376

Ordinary profit
Extraordinary income

Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
1,812

376

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

196
3157
0

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

1,591
(2)

1,159
(25)

Total other comprehensive income

1,788

1,291

3,601

1,667

3,624

1,667

(23)

–

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

5,362Retained earnings

5,334

Total shareholders'equity

Treasury shares

25,944(1,539)35,102

Changes during period
Dividends of surplus

(682)

(682)

Profit attributable toowners of parent

1,835

1,835

Capital increase of
consolidated subsidiaries

(39)

(39)

Net changes in items otherthan shareholders' equity
Total changes during period
Balance at end of period

–

(39)

1,153

–

1,113

5,362

5,295

27,097(1,539)36,215

Accumulated other comprehensive income
Valuation
Deferreddifference on
gains or losses
available-foron hedges
sale securitiesBalance at beginning ofperiod

711

(3)

Foreigncurrencytranslation
adjustment

of defined benefit

607

18

Remeasurements

plans

Total
accumulated
othercomprehensive
income1,335

Share
acquisitionrights

Noncontrollinginterests

282

218

Total net
assets36,938Changes during period
Dividends of surplus(682)

Profit attributable toowners of parent

1,835

Capital increase ofconsolidated subsidiaries(39)

Net changes in items otherthan shareholders' equity

196

Total changes during period
Balance at end of period

2

1,591

(2)

1,788

196

2908(0)1,591(2)2,199

16

740(217)

1,611

1,788

40(217)

2,725

3,123

322

139,663

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

5,362

Retained earnings

5,295

Total shareholders'equity

Treasury shares

27,097(1,539)36,215

Changes during period
Dividends of surplus

(581)

(581)

Profit attributable toowners of parent

376

376

Purchase of treasury
shares(491)

Disposal of treasury
shares

(491)

1212

Net changes in items otherthan shareholders' equityTotal changes during period
Balance at end of period–12(204)

(491)

(683)

5,362

5,307

26,892(2,030)35,532

Accumulated other comprehensive income
Valuation
Deferreddifference on
gains or losses
available-foron hedges
sale securities
Balance at beginning of
period908(0)Foreigncurrencytranslation
adjustment

of defined benefit

2,199

16

Remeasurements

plans

Total
accumulated
othercomprehensive
income3,123

Share
acquisitionrights

Noncontrollinginterests

322

1

Total net
assets39,663

Changes during period
Dividends of surplus(581)

Profit attributable toowners of parent

376

Purchase of treasury
shares(491)

Disposal of treasury
shares12

Net changes in items otherthan shareholders' equity

157

01,159(25)

1,291

7(0)

1,298

Total changes during period157

01,159(25)

1,291

7(0)

614

1,066

–

3,358(9)

4,414

330

140,278

Balance at end of period8Consolidated statements of cash flows(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024

Cash flows from operating activities
Profit before income taxes

2,427

1,594Depreciation
Gain on bargain purchase

1,518–

1,465(152)

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses

(97)
(1)

(146)
(5)

Increase (decrease) in retirement benefit liability
Interest and dividend income

(174)
(124)

(87)
(199)

Interest expenses
Decrease (increase) in inventories and contract assets

101
2,625

202
2,900

Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable(6,486)(642)(5,885)363

Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables

60(2,032)(173)(5,967)

16(8)

(121)
(822)

(2,816)(7,036)

125
(98)

198
(255)

Income taxes paid

(1,365)(1,129)Net cash provided by (used in) operating activities(4,155)(8,222)

194(1,463)–(4,067)(307)
3(337)
–

–

101

–

58

(1,572)(4,244)

Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings

3,685
5,413

5,374
7,800

Repayments of long-term borrowings
Dividends paid

(1,950)(682)(2,706)(579)–(511)(238)–Increase (decrease) in accounts payable - other
Other, net
SubtotalInterest and dividends received
Interest paid

Cash flows from investing activities
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of securities
Proceeds from liquidation of subsidiaries
Proceeds from purchase of shares of subsidiaries resulting inchange in scope of consolidation
Net cash provided by (used in) investing activities
Cash flows from financing activities

Purchase of treasury shares
Purchase of shares of subsidiaries not resulting in change inscope of consolidation
Repayments of finance lease liabilities

(99)

(109)

Net cash provided by (used in) financing activities

6,127

9,268

Effect of exchange rate change on cash and cash equivalents

301

352

Net increase (decrease) in cash and cash equivalents

700(2,846)

Cash and cash equivalents at beginning of period

10,601

11,301

Cash and cash equivalents at end of period

11,3018,4549