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 Six Months Ended September 30, 2023
(Based on Japanese GAAP)
November 10, 2023
NISSEI PLASTIC INDUSTRIAL CO., LTD.
Company name:
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

6293
URL http://www.nisseijushi.co.jp
President & Representative Director
Hozurni YodaInquiries:
Director
Scheduled date to file Quarterly Securities Report:

Kauyoshi Horiuchi
November 10, 2023

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

December 4, 2023
Yes

Holding of quarterly financial results meeting:Yes

TEL0268-82-3000(for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the six months ended September 30, 2023 (from April 1, 2023 to September 30, 2023)(1) Consolidated operating results (cumulative)
Net sales
Six months ended September 30, 2023
Six months ended September 30, 2022

Millions of yen
22,58024,977

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%(9.6)
773 (51.7)
800 (53.1)
565 (55.1)
20.0
1,601
30.9
1,707
42.4
1,259 (20.5)

Earnings per share

Diluted earnings per share

Yen
29.19
64.56

Six months ended September 30, 2023
Six months ended September 30, 2022

Yen
28.5363.18(2) Consolidated financial position
Total assets
As of September 30, 2023
As of March 31, 2023

Net assets

Millions of yen
81,52377,645Equity ratio

Millions of yen
41,50539,663

%
50.5
50.7

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00
15.00

Yen–

Yen
15.00

Yen
35.00

–

20.00

35.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
46,000 (11.9)
1,200 (55.3)
1,300 (46.5)
900 (51.0)
46.15

1

4. Notes(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) 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:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2023

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 September 30, 2023

3,037,955 shares As of March 31, 2023

2,768,705 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2023

19,373,812 shares Six months ended September 30, 2022

219,503,295 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of September 30, 2023

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

11,301
8,015

9,383
5,983

Electronically recorded monetary claims - operating
Merchandise and finished goods

606
13,070849
17,480Work in process
Raw materials and supplies

6,415
13,717

7,802
13,807

Accounts receivable - other
Other

3,438
1,783

2,112
3,032

Allowance for doubtful accounts

(406)

(288)

57,94160,164

6,409

6,611

Machinery, equipment and vehicles, net
Land

1,543
4,774

1,695
4,848

Other

1,608

2,486

Total property, plant and equipment

14,336

15,642

524

472

2,223

2,289

Other
Allowance for doubtful accounts

2,621
(1)

2,956
(1)

Total investments and other assets

4,842

5,244

19,703

21,35877,645

81,523

13,386

11,177

4,503
2,254

11,098
2,176

417
338

11
322

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

Intangible assets
Investments and other assets
Investment securities

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provisions
Other

5,329

4,474

Total current liabilities

26,22929,259

8,325
2,979

7,310
2,952

446

495

11,752

10,75737,98140,017

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

3

(Millions of yen)
As of March 31, 2023

As of September 30, 2023

Net assets
Shareholders' equity
Share capital

5,362

5,362

Capital surplus
Retained earnings

5,295
27,0975,307
27,370Treasury shares(1,539)(1,823)

Total shareholders' equity

36,21536,216908(0)

955–

Foreign currency translation adjustment
Remeasurements of defined benefit plans

2,199
16

3,989
12

Total accumulated other comprehensive income

3,123

4,957

322
1330
139,663

41,50577,645

81,523

Accumulated 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 (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Six months ended

Six months ended

September 30, 2022

September 30, 2023

Net sales
Cost of sales

24,977
16,847

22,58015,316Gross profit

8,129

7,263

Selling, general and administrative expenses

6,527

6,490

Operating profit

1,601

773

Interest income
Dividend income

1370

2109

Gain on valuation of derivatives
Other84
132–118

Total non-operating income

299

230

Non-operating income

Non-operating expenses
Interest expenses

5880

Foreign exchange losses
Other115
19103
18

Total non-operating expenses

194

202

1,707

800

Gain on bargain purchase–152

Total extraordinary income

–

152

1,707

953

457

388

1,249

565

(9)

–

1,259

565

Ordinary profit
Extraordinary income

Profit before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

September 30, 2022

September 30, 2023

1,249565

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

(17)
346
0

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

2,282(2)

1,790
(3)

Total other comprehensive income

2,265

1,833

3,515

2,398

3,512

2,398

2

–

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

6Consolidated statements of cash flows(Millions of yen)Six months ended

Six months ended

September 30, 2022

September 30, 2023

Cash flows from operating activities
Profit before income taxes

1,707

953

Depreciation
Gain on bargain purchase

773
–698
(152)

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

(11)
29

(147)
19

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

(122)
(83)

(51)
(111)

Interest expenses
Decrease (increase) in trade receivables

46726

80880

Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable(4,033)
663(3,971)
1,230

Increase (decrease) in trade payables
Other, net(1,721)(344)(2,908)(829)

Subtotal(2,370)(4,312)

Interest and dividends received
Interest paid

83
(53)

114
(131)

Income taxes paid

(926)

(692)

(3,267)(5,021)189(1,096)–(1,384)

(125)

(163)

–

58

(1,032)(1,489)Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings

1,546
2,036

6,334
1

Repayments of long-term borrowings
Dividends paid

(1,055)(292)(1,352)(292)Purchase of treasury shares
Repayments of finance lease liabilities

–(51)

(304)
(62)

2,184

4,323

Net cash provided by (used in) operating activities
Cash flows from investing activities
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Purchase of intangible assets
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

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

544

269

Net increase (decrease) in cash and cash equivalents(1,571)(1,918)Cash and cash equivalents at beginning of period

10,601

11,301

Cash and cash equivalents at end of period

9,030

9,383

7