FY 3/2023

Financial Results
Briefing Materials
Making hardworking people,
happy.

NISSO CORPORATIONTSE PRM Code: 6569

May 15, 2023

Summary
FY 3/2023 Results●Revenue and operating profit increased year-on-year●Net sales reached a record high since NISSO's listing●Automobiles industry profits increased due to recovery despite continued impact of parts shortages●Demand for electronic devices continued to decline for electronic components and semiconductor
memory●Engineering net sales increased year-on-year

FY 3/2024 Consolidated Earnings Forecast●Demand for components in the Electronics Industry is expected to recover gradually●The impact of inventory adjustments in the Semiconductor Industry (memory field, etc.) is
expected to continue●Revenue and profits in the Automotive Industry are expected to increase due to recovery ofoperations, despite the remaining impact of parts shortages
Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

1CONTENTS

1

FY 3/2023

Financial Results Summary2

FY 3/2023

Overview of Activities

3

Financial Results by Segment

4

Future Prospects (FY 3/2024）

5

Shareholder Return Policy

6

Supplementary Materials
Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved2

１

FY 3/2023

Financial Results Summary

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved3

FY 3/2023 Consolidated Financial Results Highlights（Unit: Million yen）

PointsFY 3/22• Net sales increased by 17.1% partly due
to an increase in the number of enrolled
staff and an increase in billing unit-costs.
• Although the automobiles industry
continued to be affected by parts
shortages, operations recovered
moderately, and the gross margin
improved by 0.3 percentage points
compared to 3Q.
• Other Businesses (nursing care・welfare
services) increased revenue and profits.

Results

FY 3/23% of Total

Results

Year-on-Year% of Total

Increase(Decrease)% Change

Net sales

77,549100.0%

90,827100.0%

13,27717.1%

Gross profit

12,95016.7%

14,554

16.0%

1,604

12.4%

SG&A
expenses

10,86314.0%

12,286

13.5%

1,423

13.1%

Operatingprofit

2,087

2.7%

2,268

2.5%

181

8.7%

Ordinary
profit

2,369

3.1%

2,349

2.6%

(20)

(0.9%)

Profitattributableto owners ofparent

1,696

2.2%

1,622

1.8%

(74)

(4.4%)

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

4

FY 3/2023 Quarterly Consolidated Financial Results（Unit: Million yen）

（Unit: Million yen）

Net sales

Operating profit
24,03824,00023,62522,661
22,00020,00018,00020,572 20,501
20,282
18,64917,771 18,045
17,470

1000

947

920

888

900
800

680

700

582

600

16,557
16,414525

500

16,000

300

470
354

400

14,000

869

259

206

250

200
12,00010,000100
0１Q ２Q ３Q ４Q １Q ２Q ３Q ４Q １Q ２Q ３Q ４Q【FY 3/21】【FY 3/22】【FY 3/23】

1Q ２Q ３Q ４Q １Q ２Q ３Q ４Q 1Q ２Q ３Q ４Q【FY 3/21】

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved【FY 3/22】【FY 3/23】

5

FY 3/2023 Non-consolidated Financial Results Highlights
Net sales（Unit: Million yen）

FY 3/22• Net sales increased by 12.7% partly due
to an increase in the number of enrolled
staff and an increase in billing unit-costs.

Results

FY 3/23% of Total

Results

Year-on-Year% of Total

Increase(Decrease)% Change

Expenses・Profits

Net sales

71,697100.0%

80,776100.0%

9,078

12.7%

• Although the automobiles industry
continued to be impacted by parts
shortages, gradual recovery inoperations (number of working days,
overtime hours, holiday work, etc.)
continued, and the gross margin
improved by 0.3 percentage points
compared to 3Q.

Gross profit

12,33617.2%

13,445

16.6%

1,108

9.0%

SG&A
expenses

10,222

14.3%

11,177

13.8%

955

9.3%

Operatingprofit

2,114

2.9%

2,267

2.8%

153

7.2%

Ordinary
profit

2,294

3.2%

2,337

2.9%

42

1.8%

Profit

1,607

2.2%

1,638

2.0%

30

1.9%

• Demandstrong.

for

human

resourceswas• Recruitment costs were streamlined, andthe SG&A ratio improved year-on-year.

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

6

FY 3/2023 Quarterly Non-consolidated Financial Results（Unit: Million yen）

（Unit: Million yen）

Operating profit

Net sales
1200

22,00021,147 20,754
19,91620,00019,028 18,958
18,68718,00016,00016,357
16,036

903

845

800

17,296
16,684

867

685
566

555

600

15,15315,002482

14,000400

12,000200

10,0000

1Q ２Q ３Q ４Q １Q ２Q ３Q ４Q １Q ２Q ３Q ４Q【FY 3/21】

958

1000

【FY 3/22】【FY 3/23】

380
263

204

291

1Q ２Q ３Q ４Q １Q ２Q ３Q ４Q 1Q ２Q ３Q ４Q【FY 3/21】

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved【FY 3/22】【FY 3/23】

7

2

FY 3/2023

Overview of Activities

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

8

FY 3/2023 Financial Results Summary
Consolidated Financial Results

Net Sales
Operating Profit

90,827 Million yen （ 13,277 Million yen／ 17.1% YoY ）2,268 Million yen （ 181 Million yen／ 8.7% YoY ）Non-consolidated Financial Results● Net Sales by Industry (YoY)
Automobiles
Electronic devices… +15.0％… +11.9%● FY-end Number of Enrolled Staff
15,998 staff（+1,053 staff from FY 3/22-end ）● Net Sales per Capita/Monthly
426 Thousand yen(+11 Thousand yen YoY)

・In the automobiles-related industry, net sales increased by 15.0% YoY. Although the impactof the parts shortages remained, operations gradually recovered and net sales increased.
・In the electronic devices industry, net sales increased by 11.9% YoY. Growth slowed due toa continued decline in demand for electronic components and semiconductor memory,
despite an increase in billing unit-costs.

・The number of enrolled staff increased by 1,053 compared to FY 3/22-end. Human
resources needs remained strong, and the number of enrolled staff increased YoY.

・Net sales per capita increased by 11 thousand yen YoY. The increase was partly due tofactors such as an increase in billing unit-costs and a gradual recovery in operations in theautomobiles industry.

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

9

FY 3/2023 Net Sales by Industry (NISSO, Non-consolidated)（Unit: Million yen）

Net Sales Composition Ratios
90,000Other

Precision・Elec. Machinery

Elec. Devices

80,00070,00060,00050,00040,0009,827（13.7％）

8,329

Automobiles

Net sales increased by 10.2% YoY. The increase was partly
due to an increase in the number of enrolled staff and anincrease in billing unit-costs.

10,674＋8.6％（13.2％）＋10.2％（11.4％）＋11.9％（30.4％）

9,181（11.6％）

21,935【Precision・Electrical Machinery】

24,545（30.6％）【Electronic Devices】
Net sales increased by 11.9% YoY The increase was partly
due to an increase in billing unit-costs. Growth slowed due
to a continued decline in demand for electronic components
and semiconductor memory. Net sales reached a record
high since NISSO's listing.

30,00020,00010,00031,618（44.1％）＋15.0％

36,375（45.0％）0FY 3/22

FY 3/23※（ ）= % of Total net sales, Red = % of Year-on-Year growth【Automobiles】
Net sales increased by 15.0% YoY. Although the impact of
reduced operations (number of working days, overtime
hours, holiday work, etc.) due to parts shortages, etc.
remained, gradual recovery continued. Partly due to anincrease in the number of enrolled staff and an increase inbilling unit-costs, net sales reached a record high since
NISSO's listing.

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

10

FY 3/2023 Quarterly Net Sales by Industry (NISSO, Non-consolidated)

Automobiles

2,383（15.7％）

2,113（13.9％）

4,680（30.9％）

5,974

Elec. Devices

Precision・Elec. Machinery

2,287

2,249

（14.3％）

1,895（12.1％）（15.0％）（12.6％）

4,413（29.4％）

6,443（39.4％）（43.0％）

１Q

２Q

1,942
4,537

（28.3％）

7,268

2190

（13.4％）

1973（12.1％）

4774（29.2％）

7,418

2,315

（13.9％）

2,047（12.3％）

5,119（30.7％）

7,216（Unit: Million yen）

Other

2,426

（14.0％）

2,067

2,570

（13.8％）

2,152（11.5％）（12.0％）

5,366（31.0％）

7,436

5,685

（30.4％）

8,278

2,515

（13.2％）

2,061（10.8％）

5,763

2,549

（13.5％）

2,185（11.5％）

5,980

2,772

2,736

2,615

（13.1％）

2,256（11.2％）（11.4％）

6,373

5,886

（30.1％）（28.4％）

9,628

9,765

（13.1％）（11.3％）

6,305（30.3％）（31.5％）（31.7％）

8,687

8,243

8,738

2,372

（13.2％）

2,367（45.3％）（45.4％）（43.2％）（43.0％）（44.3％）（45.7％）（43.5％）（43.9％）（45.5％）（47.0％）

３Q

４Q

１Q

２Q

３Q

４Q

１Q

２Q

３Q

４Q

【FY 3/21】【FY 3/22】【FY 3/23】※（ ）= % of Total net sales

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved11Account Companies (NISSO, Non-consolidated)Account Company Groups Net Sales

Point①
Account Company Groups net sales in 4Q
decreased by 0.4% YoY.

（Unit: Million yen）
12,000

Point②

10,000・In the automobiles-related company
group, although the impact of reduced
operations (number of working days,
overtime hours, holiday work, etc.) due
to parts shortages, etc. remained,
operations continued to recover gradually.
・In the electronic devices-relatedcompany group, demand for electronic
components and semiconductor memory
continued to decline.
・Due to an increase in other fields, thecomposition ratio decreased YoY.

8,000

Net sales (left axis)

47.7 48.0 47.1 47.6 47.2 46.8 46.7
46.1 45.3

7,225 7,201(Unit: %)Composition ratio (right axis)

50.0

43.9

42.7 42.1

8,721 8,772 8,581 8,7369,028 8,738 40.0
8,091
7,874
7,5517,780
30.0

6,000

20.0
4,000

10.0

2,000

0

１Q

２Q

３Q

【FY 3/21】

４Q

１Q

２Q

３Q

４Q

【FY 3/22】

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

１Q

２Q

３Q

４Q

0.0

【FY 3/23】

12

Net Sales per Capita/Month（NISSO, Non-consolidated）●FY 3/2023 Total＜Overall net sales per capita＞

426 Thousand yen (+11 Thousand yen YoY)●Net sales per capita increased YoY due in part to factors such as an increase in billing unit-costs and a gradual recovery in operations in
the automobiles industry.
（Unit: Thousand yen）

（Unit: Thousand yen）

Net Sales per Capita/Month

Net Sales per Capita/Month(Monthly Average Conversion)(Quarterly)

500

400

500

396

415

426

421

418

３Q

４Q

390

400

409

406

１Q

２Q

423

421

３Q

４Q

411

424

440

428

358

300

200

300

FY 3/21FY 3/22

FY 3/23

200

１Q

２Q

【FY 3/21】【FY 3/22】

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

１Q

２Q

３Q

４Q

【FY 3/23】

13

Number of Enrolled Staff (NISSO, Non-consolidated)（Unit: # of Staff）

Compared w. Previous FY-end

Number of Enrolled Staff at Quarter-end＋1,053 staff（＋7.0％）
16,000

Point①

14,945
14,71515,000

Human resources needs remained strong,
and the number of enrolled staff increased
from the end of the previous FY.

14,225
13,856

14,00013,146

13,24313,000

Point②

16,111
15,99815,73015,27012,524

12,692

12,000Although human resources needs remained
strong, the number of enrolled staff
temporarily decreased compared to 3Q due
to inventory adjustments in electronic
components and semiconductor memory.

11,00010,000

１Q

２Q

３Q

４Q

１Q

【FY 3/21】

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

２Q

３Q

４Q

【FY 3/22】

１Q

２Q

３Q

４Q

【FY 3/23】

14

Educational Achievements（NISSO, Non-consolidated）● FY 3/2023 Main course-specific educational achievements
Point①(total # of participants)

Main course-specific educational
achievements increased YoY.

Training course nameContents

Basic equipment
Basic equipment
maintenance education maintenance education

Point②
Partly due to the expansion andstrengthening of engineers, the number ofparticipants in engineer education increasedby 452 YoY.

Engineer education

Manufacturing
education

Manufacturing equipment
maintenance・ manufacturing
equipment technology
Mechanical design・production
technology
SEAJ education (safety
education specializing insemiconductors)
MONOZUKURI(manufacturing) education,
pre-assignment training for
manufacturing staff,
mobile education

Total

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved(Unit: # of participants)

FY 3/22

FY 3/23

Year-on-Year
Increase(Decrease)

290

362

＋72

418

870

＋452

5,396

6,059

＋663

6,104

7,291

＋1,18715

3 Financial Results by Segment(FY 3/2023)

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

16

Net Sales by Segment (Services)
FY 3/2023
General Human Resources Services Business
80,00073,091(Unit: Million yen)

70,000FY 3/2023
Other Businesses
80,000(Unit: Million yen)

70,00060,00060,00050,00050,00040,00040,00030,00030,00020,00020,0008,627

10,000

2,279

3,819

0

10,0003,031

0Manufacturing・Production

Engineering

Administrative

Other

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

Nursing Care・Welfare

17Manufacturing・Production Human Resources Services(Unit: # of Staff)(Unit: Million yen)

Net Sales
Manufacturing・production net sales in ４Q
increased by 6.4% YoY, partly due to anincrease in the number of enrolled staff and
an increase in billing unit-costs.

Manufacturing・Production
Net Sales

Number of Enrolled Manufacturing・Production Staff at Quarter-end(Quarterly)
FY 3/22

20,000FY 3/23

19,06618,00017,987
17,411

17,346

16,00018,69017,565FY 3/22

14,11814,00012,995

14,400FY 3/23

14,677

13,82014,586

13,926

13,324

15,992

Number of Enrolled Staff

16,00015,442
12,000The number of enrolled manufacturing・
production staff increased by 660 YoY in
response to steady human resources needs.

14,00010,00012,00010,000

１Q

２Q

３Q

４Q

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

8,000

１Q

２Q

３Q

４Q

18

Manufacturing・Production Human Resources Services(Unit: Thousand yen)

Net Sales per Capita/Month

Manufacturing・Production
Net Sales per Capita/Month

Manufacturing・production net sales per capita
increased by 2.7% YoY.

(Monthly Avg. Conversion)

600
500

FY 3/22

FY 3/23402 407402 413408 421411 422

１Q

２Q

３Q

４Q

400
300
200
100
0

Turnover Rate

(Unit: %)The manufacturing・production turnover rate
was 3.9%, and remained below 4% as in theprevious FY.

Manufacturing・Production
Trend of Turnover Rate
5

4

FY 3/223.8

4.0

FY 3/23

3.9

3.9
3.9

3.7

3.8

3.8

1Q

2Q

3Q

3

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

4Q

19Engineering Human Resources Services
Net Sales(Unit: Million yen)

Engineering Net Sales

Engineering net sales in 4Q increased by
38.8% YoY.

(Quarterly)
FY 3/22
2,345

2,500

2,171

FY 3/23
2,295(Unit: # of Engineers)

Number of Enrolled Engineers
at Quarter-end
2,000

1,600
2,000

1,654
1,470
1,242

Number of Enrolled Engineers

1,542

1,517

1,400

1,239
1105

1,200

1,303

1,000

861

901

982

800

1,000

・The number of enrolled engineers increased by
412 YoY.
・Partly due to inventory adjustments insemiconductor memory, the number ofenrolled engineers temporarily decreasedslightly compared to 3Q.

FY 3/23

1,426

1,814

1,500

FY 3/22
1,800

600
400

500

200
0

１Q

２Q

３Q

４Q

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

0

１Q

２Q

３Q

４Q

20

Engineering Human Resources Services(Unit: Thousand yen)

Net Sales per Capita/MonthEngineering Net Sales per Capita/MonthEngineering net sales per capita increased by
0.7% YoY.

(Monthly Avg. Conversion)

700
600

523

514

509

524

512

FY 3/22

FY 3/23
514

524

518

500
400
300
200
100
0

１Q

３Q

４Q
(Unit: %)Turnover Rate
Although the engineering turnover rateincreased by 0.2 percentage points YoY, it
remained unchanged from 3Q.

２Q

Engineering Trend of Turnover Rate3

2.3

FY 3/22

2.1

2.1

1.7

1.9

1.9

2Q

3Q

4Q

2
1

1.4

FY 3/23

2.2

0

1Q
Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

21

Toward the Growth of Engineering Human Resources Services
NISSO aims to develop high value-added human resources by enhancing cooperation with local communities,
semiconductor-related manufacturers, and training centers.
Tomakomai Training Center(Tomakomai City, Hokkaido)

Nagano Prefectural Governor
Accredited Training School

Tohoku Semiconductor andElectronics Design Study Group

Nisso Technical Center Naka-Nihon(Okaya City, Nagano)Participation from November 2022

Toyota Training Center(Toyota City, Aichi)

Miyagi Prefectural Governor
Accredited Training School

Nisso Technical Center Kyushu(Buzen City, Fukuoka)

Nisso Technical Center Higashi-Nihon(Kurihara City, Miyagi)

Kyushu Semiconductor
Human Resources
Development Consortium

Ota Training Center(Ota City, Gunma)

Participation from April 2023

Kumamoto Prefectural Governor
Accredited Training School

Nisso Techno Center
Chugoku Regional
Semiconductor Industry
Promotion Council

Nisso Technical Center Kumamoto

Participation from November 2022

(Yokohama, Kanagawa)

Hamamatsu Training Center(Hamamatsu City, Shizuoka)(Otsu-cho, Kumamoto)

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

22

Toward the Growth of Engineering Human Resources Services
With the aim of fostering semiconductor-related "equipment technology engineers",
NISSO opened the "Nisso Technical Center Kumamoto", our 9th training center in Japan.

Kumamoto Prefectural Governor
Accredited Training School("Opening Ceremony" held on April 13, 2023)

Nisso Technical Center Kumamoto
Location: 259-2 Muro, Ozu-machi Kikuchi-gun, Kumamoto
Facility: Simulated clean room, classrooms, office※March 2023: Certiﬁed as a Kumamoto Prefectural Governor
accredited vocational training school

Developing high value-added
human resources
Practical programs for the"improvement of initialretention“and"acquisition of skills from
inexperience"
Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

12-inch"state-of-the-art
semiconductor manufacturing
equipment"
installed ina simulated clean room
23

Administrative・Other Human Resources Services(Unit: Million yen)

Administrative Human Resources Services

Administrative net sales in 4Q decreased by
7.8% YoY partly due to sluggish growth in
the number of registrants.

Administrative Net Sales(Quarterly)

1,000
900

FY 3/22

800
700

607

600

586

592

562

636

566

FY 3/23611

563

FY 3/22

900

626

700
600

598

663

627

669

605

300

200

200

100

100

１Q

２Q

３Q

0

４Q

Other Human Resources Services

１Q(Unit: Million yen)

(Quarterly)
FY 3/22

1,500

1,298

1,179

1,200

FY 3/23
1,321

３Q

４Q
(Unit: # of Staff)

800

1,800

２Q

Number of Enrolled Senior Staff・
Employees w/ Disabilities

Other Net Sales# of employees with disabilities# of senior employees

700
600

598

567

531

505

500
400

900

300

600

0

628

400

300

300

600

FY 3/23

500

400

・Nikon Nisso Prime Corporation supports theactive participation of senior employees.
The number of senior employees increasedby 31 compared to 3Q.
・Nisso Pure Co., Ltd. is in the process ofdeveloping a work environment where
diverse human resources can flourish.
・The number of employees with disabilities
was 205.

1,000
800

500

0

(Unit: # of Staff)

Number of Enrolled Administrative Staff
at Quarter-end

210

208

206

１Q

２Q

３Q

205

200

13

20

１Q

10

20

20

２Q

３Q

４Q

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

100
0

４Q

24

Nursing Care・Welfare Services●Results of Nursing Care・Welfare Services

Points• The overall occupancy rate of nursing carefacilities increased to 94.5%.
• Net sales increased by 2.3% YoY.

Net sales

FY 3/22

FY 3/23

Results

Results

2,963

Year-on-Year
Increase(Decrease)

3,031% Change68

2.3%(Unit: # of residents)

Number of facility residents

# of
入居者数
residents[Bldg.1-6] (capacity:402)
400(Unit: Million yen)Occupancy
入居率
rate

380

370

364

369

375

375

92.0%

90.5%

91.8%

93.3%

93.3%

94.5%

Dec.'21-end

Mar.'22-end

Jun.'22-end

Sep.'22-end

Dec.'22-end

Mar.'23-end

300
200
100
0

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

25

4

Future Prospects (FY 3/2024）

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved

26

FY 3/2024 Full-year Consolidated Forecasts
In the full-year consolidated forecasts, in addition to the recovery of operations in the automobiles industry, demand forcomponents related to PCs and communication equipment is expected to gradually recover. Furthermore, in the semiconductor
memory field, etc., although the impact of inventory adjustments remain, NISSO expects revenue and profits to increase.
■FY 3/2024 Full-year Consolidated Forecast (April 1, 2023 ～ March 31, 2024)
FY 3/23 Results
Results(Unit: Million yen)

FY 3/24 Forecast% of Total

Forecast

Year-on-Year% of Total

Increase(Decrease)% Change

90,827100.0%

100,000

100.0%

9,172

10.1%

Operating profit

2,268

2.5%

3,600

3.6%

1,331

58.7%

Ordinary profit

2,349

2.6%

3,600

3.6%

1,250

53.2%

Profit attributable toowners of parent

1,622

1.8%

2,300

2.3%

677

41.8%

Net sales

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved27

From Account Strategy to Industry Strategy
NISSO will continue to contribute to the growth of Japanese MONOZUKURI (manufacturing) by responding not
only to individual needs, but also to the needs of each industry.
To date, NISSO has adopted an account strategy that aims to contribute to the growth of Japanese MONOZUKURI by treatingeach client individually and intensively responding to the needs of our target clients.
In the future, as the industrial structure will change at an accelerated pace against the backdrop of technological innovation andenvironmental issues, NISSO will proactively and speedily respond to the needs of new clients through the development of
human resources specialized for each industry.

Account (Companies)

Sales
strategies

PointsResources

Industry (Industries)

Sales
strategies

Human
resourcesdevelopment

SurfaceResources

Human
resourcesdevelopment
Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved28

Industry Trends
Automotive

Industry(Automobile manufacturing・
EV-related manufacturing industry)

1
H

2
H

※NISSO's own forecasts

Electronics

Semiconductor Industry

Industry(Electronic equipment manufacturingindustry)(Semiconductor manufacturing industry)

CapitalInvestment

Will gradually expand

Will expand

Will be flat

Production
Trends

Production growth will stall

Manufacturing equipment・memory will be sluggish
Power semiconductors will be strong

Will be sluggish in conjunction
with semiconductors

Operational
Trends

Impact of parts shortages willcontinue

Operations will be sluggish

Operations will be sluggish

Personnel
TrendsWill be steadyWill be sluggish

Will be sluggish

CapitalInvestment

Will expand

Will expand further

Will gradually expand

Will be busy with parts shortages

Manufacturing equipment will
recover moderately
Memory will be sluggish

Will recover but slower thansemiconductors

Operations will fully recover

Manufacturing equipment will
recover moderately
Memory will be sluggish

Will recover but slower thansemiconductors

Will be steady

Human resources needs will
increase rapidly for next year

Will gradually increase following
semiconductors

Production
TrendsOperational
Trends

Personnel
Trends5

Shareholder Return Policy

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved30Shareholder Return Policy
Basic Policy
NISSO considers the redistribution of profits toshareholders and the enhancement of corporate
value as key management issues. In addition, bysetting the consolidated dividend payout ratio of
30% or more as a general standard, NISSO's basic
policy is to continue to steadily redistribute profits
to all of our shareholders.

Dividend and Payout Ratio(Unit: Yen)
30.00

Dividend (left axis)

25.00

80%

20.00

NISSO expects to pay a dividend of 16.00 yen per
share (consolidated dividend payout ratio of 33.5%).

100%
90%

20.50円20.10円FY 3/2023 Dividend (Expected)(Unit: %)Payout ratio (right axis)

15.00

18.00円

42.7%

16.00円

60%
50%

36.0%

33.5%

30.3%

10.00

40%
30%

FY 3/2024 Dividend Forecast

20%

5.00

NISSO expects to pay a dividend of 20.50 yen per
share (consolidated dividend payout ratio of 30.3%).

70%

10%
0.00

FY 3/2021

FY 3/2022

FY 3/2023(Expected)

FY 3/2024(Forecast)

0%※The dividend for FY 3/2021 includes a commemorative dividend of 5.00 yen for the50th Anniversary of NISSO's founding.

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved31

6Supplementary Materials

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved32Consolidated Balance Sheet(Unit: Million yen, ％)Mar. 2022-end

Mar. 2023-end

AmountAmount% of Total% of Total

Increase(Decrease)

19,06869.4

21,747

72.3

2,679

Cash and deposits

8,779

32.0

9,800

32.6

1,020

Accounts receivable - trade

9,324

34.0

10,870

36.1

1,546

8,394

30.6

8,344

27.7

(49)

Property, plant and equipment

4,578

16.7

4,660

15.5

82

Intangible assets

1,667

6.1

1,514

5.0

(152)

Investments and other assets

2,149

7.8

2,169

7.2

19

Total assets

27,462100.0

30,092

100.0

2,629

Current liabilities

10,411

37.9

12,187

40.5

1,776

Accrued expenses
Income taxes payable

5,381
395

19.6
1.4

6,119
555

20.3
1.8

737
159

Provision for bonuses

1,058

3.9

1,395

4.6

336

Non-current liabilities

3,492

12.7

3,097

10.3

(394)

2,509

9.1

2,019

6.7

(490)

Total liabilities

13,90350.6

15,284

50.8

1,381

Shareholders' equity

13,54049.3

14,563

48.4

1,023

-

-

239

0.8

239

Total net assets

13,55949.4

14,807

49.2

1,248

Total liabilities and net assets

27,462 Copyright
100.0
30,092100.0
2,629ⓒ 2023 NISSO CORPORATION All Rights Reserved

Current assets

Non-current assets

Long-term loans payableNon-controlling interests

Point①Increase due to expansion of thenumber of staff in operation
Due to the expansion of the number ofstaff in operation in the manufacturingrelated human resources services, etc.,"accounts receivable (trade)" of current
assets and "accrued expenses" of current
liabilities increased.
②Business combination
Assets and liabilities increased due to anincrease in the number of consolidated
subsidiaries accompanying the acquisition of
additional shares.
③Overall
As a result of the above, total assets
increased by 9.6%, total liabilities increased
by 9.9%, total net assets increased by 9.2%
compared to the end of the previous fiscal
year, resulting in an equity ratio of 48.4%.

33

Consolidated Statements of Cash Flows(Unit: Million yen)

FY 3/22

FY 3/23

AmountAmount

Point
Increase(Decrease)

CF from operating activities

2,273

2,285

11

CF from investing activities(1,538)

(146)

1,391

CF from financing activities

2,164(1,112)(3,276)

Net increase (decrease) in cash
and cash equivalents

2,899

1,026

(1,873)

Cash and cash equivalents at
beginning of period

5,873

8,773

2,899

Cash and cash equivalents at
end of period

8,773

9,800

1,026

Copyright ⓒ 2023 NISSO CORPORATION All Rights Reserved①Cash flows from operating activities
Proceeds from profit before income taxes,
etc., absorbed expenditures such as anincrease in notes and accounts receivable(trade), resulting in proceeds of 2,285 million
yen.
②Cash flows from investing activities
Expenditures from purchase of securities
and purchase of property, plant andequipment could not be absorbed byproceeds from purchase of shares ofsubsidiaries resulting in change in scope of
consolidation, resulting in an expenditure of
146 million yen.
③Cash flows from financing activities
Expenditures such as cash dividends paid
and repayments of long-term loans payableamounted 1,112 million yen.

34

Making hardworking people,
happy.

The forward-looking statements and performance forecasts contained in this document are forecasts
determined by NISSO based on information available at the time of preparation, and include potential
risks and uncertainties. Therefore, please be aware that the actual results may differ greatly from theforward-looking statements described due to changes in various factors.

For future IR-related inquiries

IR Division, NISSO CORPORATION
TEL

045-777-7630

E-mailir@nisso-ir.com

URL

https://www.nisso.co.jp/