Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

August 9,2024

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2024
(Under Japanese GAAP)
Company name: Nippon Beet Sugar Manufacturing Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
2108
URL:
https://www.nitten.co.jp/
Representative:
Shu Ishikuri, Representative Director and President
Inquiries:
Takahiro Kusano, General Manager of Legal Department
Telephone:+81-3-6414-5527
Scheduled date to commence dividend payments: ―Preparation of supplementary material on financial results: None
Holding of financial results briefing: None
(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30,2024)(1) Consolidated operating results (cumulative)
Net sales
Three months ended(Percentages indicate year-on-year changes.)

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%Millions of yen

Millions of yen%

Millions of yen

June 30, 2024

14,916

(9.4)

290

―

646

207.4

5,815

―

June 30, 2023

16,4557.1(318)―210(71.6)

118(75.9)

Note: Comprehensive income%%

For the three months ended June 30, 2024:¥6,835 million [322.8%]
For the three months ended June 30, 2023:¥1,616 million [474.2%]

Basic earnings
per share
Three months ended

Diluted earnings
per share
Yen

Yen

June 30, 2024

453.49―June 30, 2023

8.91

―

(2) Consolidated financial position
Total assets
As ofNet assets

Equity ratio

Net assets per share

Millions of yen

June 30, 2024

101,338

78,49477.5

6,151.07

March 31, 2024

103,022

72,53570.4

5,647.57

Reference:

EquityAs of June 30, 2024:
As of March 31, 2024:¥78,494 million¥72,535 million%

Yen

Millions of yen

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Fiscal year ended
March 31, 2024
Fiscal year ending
March 31, 2025―

Fiscal year-end

Total

Yen

Yen―

―

55.00

55.00

―

―

80.00

80.00

―

Fiscal year ending
March 31, 2025
(Forecast)

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Consolidated Results Forecasts for Fiscal year ending March 31, 2025
(Percentages indicate year-on-year changes.)
Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

Six months ending

30,000(7.4)

900(26.8)

1,300(26.8)

6,300

405.5

490.52

Fiscal year ending
March 31, 2025

67,000(3.3)

600(34.1)

1,200(33.4)

6,200

242.2

482.73

Note: Revisions to the results forecasts most recently announced: None* Notes(1) Significant changes in the scope of consolidation during the period: None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024

15,325,642 shares

As of March 31, 2024

15,325,642 shares(ii) Number of treasury shares at the end of the period
As of June 30, 2024

2,564,568 shares

As of March 31, 2024

2,482,044 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscalyear)
Three months ended June 30, 2024

12,822,874 shares

Three months ended June 30, 2023

13,301,753 shares* Review of the Japanese-language originals of the attached consolidated quarterly financial statements bycertified public accountants or an audit firm: Yes (voluntary)* Proper use of earnings forecasts, and other special matters
Financial forecasts and other forward-looking statements herein are based on information available to theCompany and certain assumptions deemed reasonable as at the time of preparing this report. Actual results
may vary significantly from the forecasts due to a wide range of factors.

Nippon Beet Sugar Manufacturing Co.,Ltd.(2108)
Summary of Consolidated Financial Results for the Three Months Ended June 30,2024

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netOther, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 1 -As of June 30, 2024

5,853
8,389

10,601
8,085

216

279

7,000
18,756
5,760
4,235
727
(6)
50,931

4,000
17,159
337
4,924
4,600
(6)
49,98011,712
12,56424,276547

11,357
10,66622,024527

24,952
2,195
120(0)
27,26652,090103,022

26,4642,201141(0)28,806
51,358101,338

Nippon Beet Sugar Manufacturing Co.,Ltd.(2108)
Summary of Consolidated Financial Results for the Three Months Ended June 30,2024(Millions of yen)
As of March 31, 2024
Liabilities
Current liabilities
Accounts payable - trade
Short-term borrowings
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets- 2 -As of June 30, 2024

1,415
10,901
495
6,742
19,554

2,549
61
2,610
6,303
11,524

48

35

18

10

3,852
7,013
10,93230,4873,832
7,441
11,32022,844

8,279
8,413
46,664(4,724)
58,6328,279
8,413
51,773(4,895)63,571

12,982

14,0207912
13,902
72,535103,0229892
14,92378,494
101,338

Nippon Beet Sugar Manufacturing Co.,Ltd.(2108)
Summary of Consolidated Financial Results for the Three Months Ended June 30,2024

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
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 (loss)
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOtherTotal non-operating income
Non-operating expenses
Interest expenses
Loss on disposal of non-current assets
Idle asset expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Loss on tax purpose reduction entry of non-current
assetsTotal extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to owners of parent- 3 -For the three months
ended June 30, 2024

16,455
13,5182,937

14,916
11,416
3,499

2,429
826
3,256(318)

2,276
933
3,209
290

0545

0342

8

13

37590

29
385

32
21
7
161
210

14
1
7
7
30
646

32
385
417

7,698
7,698

9

7

384-

393
234
115
118
118

78,337
2,522
5,815
5,815

Nippon Beet Sugar Manufacturing Co.,Ltd.(2108)
Summary of Consolidated Financial Results for the Three Months Ended June 30,2024

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests- 4 -For the three months
ended June 30, 2024
118

5,815

1,505
9(16)
1,498
1,616

1,038
2(20)
1,020
6,835

1,616

6,835

--

Nippon Beet Sugar Manufacturing Co.,Ltd.(2108)
Summary of Consolidated Financial Results for the Three Months Ended June 30,2024

Segment Information
Information on sales and profit (loss) by each segment
Ⅰ Three months ended June 30,2023 (from April 1,2023 to June 30,2023)（Millions of yen）
Reportable segment
Sugar

Grocery

Agricultural
Real EstateMaterials

FeedOtherTotal

Sub-Total

Net sales

11,755664

2,646

74636816,180

274

16,455

64

54－

31

105

439

545

Total

11,819

669

2,650

746

399

16,286714

17,001

Segment profit(loss)(71)

1(502)

36232

(302)

(57)

(359)

Customers
Inter-segment

Ⅱ Three months ended June 30,2024 (from April 1,2024 to June 30,2024)（Millions of yen）
Reportable segment
Sugar

Grocery

Agricultural
Real Estate
Materials

Feed

Other

Total

Sub-Total

Net sales
Customers
Inter-segment
Total
Segment profit(loss)

10,372

694

2,616

622

357

14,663

253

14,916

68

57－

26

106

456

563

10,440

699

2,624

622

38314,769709

15,479240

53(147)(45)

220

320(67)253- 5 -