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, 2023
(Based on Japanese GAAP)May 12, 2023
Company name:

NISSEI PLASTIC INDUSTRIAL CO., LTD.

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

http://www.nisseijushi.co.jp

President & Representative Director
Managing Director

Hozumi Yoda
Hiroshi Miyashita

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

June 23, 2023
June 23, 2023

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

June 26, 2023
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, 2023 (from April 1, 2022 to March 31, 2023)(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, 2023
52,205
7.1
2,682
4.0
2,427(17.4)
1,835(31.5)
Year ended March 31, 2022
48,73117.1
2,577 125.1
2,940 174.6
2,680 347.6
Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%
92.07
4.8
3.3
5.1
134.71
7.7
4.4
5.3Diluted earnings pershare

Earnings per share
Yen
94.13
137.43

Year ended March 31, 2023
Year ended March 31, 2022
(2) Consolidated financial position

Total assets
As of March 31, 2023
As of March 31, 2022

Net assets

Equity ratio

Millions of yen
77,64568,852Millions of yen
39,66336,938Cash flows fromoperating activities
Millions of yen(4,152)
1,619

Cash flows frominvesting activities
Millions of yen(1,576)(777)

Net assets per share%
50.7
52.9

Yen
2,017.08
1,868.26(3) Consolidated cash flows

Year ended March 31, 2023
Year ended March 31, 2022

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
6,127
11,301(4,238)
10,601

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

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

YenYenMillions of yen%%––15.00
20.00––

15.00
15.00

30.00
35.00

585
682

21.8
37.2

1.7
1.8

–

15.00

–

20.00

35.00

175.8

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Net sales
Millions of yen
Six months ending
September 30, 2023
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

21,000(15.9)

400(75.0)500(70.7)400(68.2)

20.51

46,000(11.9)

1,200(55.3)

1,300(46.5)

900(51.0)

46.15

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2023
(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:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement 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, 2023

22,272,000 shares As of March 31, 2022

22,272,000 shares

Number of treasury shares at the end of the period
As of March 31, 2023

2,768,705 shares As of March 31, 2022

2,768,705 shares

19,503,295 shares Year ended March 31, 2022

19,503,334 shares

Average number of shares during the period
Year ended March 31, 2023

2

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of March 31, 2023

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

10,781
10,606

11,301
8,015

Electronically recorded monetary claims - operating
Merchandise and finished goods

638
9,419

606
13,070Work in process
Raw materials and supplies

4,413
11,672

6,415
13,717

Accounts receivable - other
Other

2,390
1,380

3,438
1,783

Allowance for doubtful accounts

(469)

(406)

50,83457,941

14,833

15,436

Accumulated depreciation(8,620)(9,026)

Buildings and structures, net

6,212

6,409

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

Machinery, equipment and vehicles

5,937

6,284

Accumulated depreciation(4,393)(4,740)Machinery, equipment and vehicles, net

1,543

1,543

Tools, furniture and fixtures

3,799

4,413

Accumulated depreciation(3,519)(4,138)

279

275

4,625

4,774

429
(76)

701
(304)

353

396

Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, netConstruction in progress

382

937

13,397

14,336

Leased assets
Other9562

8515

Total intangible assets

572

524

Investments and other assets
Investment securities

1,939

2,223

Deferred tax assets
Retirement benefit asset

1,848
38

2,380
36

Other
Allowance for doubtful accounts

224
(1)

204
(1)

Total investments and other assets

4,048

4,842

18,01819,703

68,852

77,645

Total property, plant and equipment
Intangible assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2022

As of March 31, 2023

LiabilitiesCurrent liabilities
Notes and accounts payable - trade

14,252

13,386

433
1,744

4,503
2,254

Lease liabilities
Income taxes payable

156
742

190
417

Provision for bonuses
Provision for product warranties

96
233

95
241

Short-term borrowings
Current portion of long-term borrowings

Other

4,828

5,139

Total current liabilities

22,48926,229Long-term borrowings
Lease liabilities

5,869
226

8,325
264

Deferred tax liabilities
Retirement benefit liability

14
3,140

17
2,979

110
62110
53

9,424

11,752

31,91337,981

Shareholders' equity
Share capital5,362

5,362

Capital surplus
Retained earnings

5,334
25,944

5,295
27,097

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

35,102

36,215

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

711
(3)

908
(0)

Foreign currency translation adjustment
Remeasurements of defined benefit plans

607
18

2,199
16

1,335

3,123

282
218

322
1

36,93839,663

68,852

77,645

Non-current liabilities

Long-term accounts payable - other
Other
Total non-current liabilities
Total liabilities
Net assets

Accumulated other comprehensive income

Total accumulated other comprehensive income
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, 2022

Fiscal year ended
March 31, 2023

Net sales

48,731

52,205

Cost of sales

34,33036,005Gross profit

14,40016,200

Selling, general and administrative expenses

11,822

13,518Operating profit

2,577

2,682

Non-operating incomeInterest income

4837

Dividend income
Purchase discounts

62
258828Foreign exchange gains
Gain on valuation of derivatives

27425–
84

Rental income
Commission income

28
202718

Electricity sale income
Other

24
79

24
179

Total non-operating income

589

489

161

121

Foreign exchange losses
Electricity sale expenses

–7535
6

Loss on cancellation of leases
Other

38
19–
79

Total non-operating expenses

226

743

2,940

2,427

Gain on sale of non-current assets

1,165

–

Total extraordinary income

1,165

–

Subsidiaries relocation expenses
Extra retirement payments8020––

Total extraordinary losses

100–

Profit before income taxes

4,005

2,427

Income taxes - current
Income taxes - deferred

1,377(78)1,178(563)

Total income taxes

1,299

615

Profit

2,705

1,812

Non-operating expenses
Interest expenses

Ordinary profit
Extraordinary income

Extraordinary losses

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

525(23)

2,680

1,835

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year endedMarch 31, 2022

March 31, 2023
2,705

1,812

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

79(5)

196
3

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

868
(29)

1,591
(2)

Total other comprehensive income

912

1,788

3,618

3,601

3,592

3,624

25(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, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning ofperiod

Capital surplus

5,362

Retained earnings

5,394

23,863Cumulative effects ofchanges in accounting
policies

Total shareholders'equity

Treasury shares(1,538)33,081(14)

Restated balance

5,362

5,394

(14)

23,848(1,538)33,066

Changes during period
Dividends of surplus

(585)

(585)

Profit attributable toowners of parent

2,680

2,680

Purchase of treasury
shares(0)

Capital increase of
consolidated subsidiaries

(0)

(59)

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

–(59)

2,095

(0)

2,035

5,362

5,334

25,944(1,539)35,102

Accumulated other comprehensive income
Valuation
Deferreddifference on
gains or losses
available-foron hedges
sale securities
Balance at beginning ofperiod632

1

Foreigncurrencytranslation
adjustment

Remeasurementsof defined benefit
plans(262)

48

Total
accumulated
othercomprehensive
income420

Shareacquisitionrights

Noncontrollinginterests

239

110

Cumulative effects ofchanges in accounting
policies
Restated balance

Total net
assets33,851(14)632

1(262)

48

420

239

110

33,837

Changes during period
Dividends of surplus(585)

Profit attributable toowners of parent

2,680

Purchase of treasury
shares(0)

Capital increase of
consolidated subsidiaries(59)

Net changes in items otherthan shareholders' equity

79

(4)

870

(29)

915

42

108

1,066

Total changes during period

79

(4)

870

(29)

915

42108

3,101

Balance at end of period

711

(3)

607

18

1,335

282

218

36,938

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

Capital surplus

5,362

Retained 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 securities
Balance at beginning of
period711(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 of
consolidated subsidiaries(39)

Net changes in items otherthan shareholders' equity

196

2

1,591(2)1,788

40(217)

1,611

Total changes during period

196

2

1,591(2)1,788

40(217)2,725

Balance at end of period

908

(0)

2,199

16

3,123322

139,6638

Consolidated statements of cash flows(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

Cash flows from operating activities
Profit before income taxes

4,005

2,427

Depreciation
Gain on sale of non-current assets

1,287(1,165)

1,518–

Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses(29)
16(97)(1)

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

(80)
(111)

(174)
(124)

Interest expenses
Decrease (increase) in inventories and contract assets

161
(978)

101
2,625

Decrease (increase) in inventories
Decrease (increase) in consumption taxes refund receivable(5,755)(260)(6,486)(642)

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

16
2,916

60
(2,032)

Increase (decrease) in accounts payable - other
Other, net

188
2,263

16(49)

Subtotal

2,475(2,857)

Interest and dividends received
Interest paid

95(183)125(54)

Income taxes paid

(768)

(1,365)

Net cash provided by (used in) operating activities

1,619(4,152)

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment

4(1,957)

194(1,463)

Proceeds from sale of property, plant and equipment
Purchase of intangible assets

1,363
(190)

–(307)

2–(777)(1,576)

Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings(2,943)
1,700

3,685
5,413

Repayments of long-term borrowings
Dividends paid

(2,288)(584)(1,950)
(682)

(0)

––

(238)

(121)

(99)

Net cash provided by (used in) financing activities(4,238)6,127

Effect of exchange rate change on cash and cash equivalents

(122)

301

Cash flows from investing activities

Proceeds from sale of securities
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

Net increase (decrease) in cash and cash equivalents(3,518)700

Cash and cash equivalents at beginning of period

14,11910,601

Cash and cash equivalents at end of period

10,601

11,3019