・The Financial Results Summary for the First Nine Months of FY 3/2019 and the Earnings Forecast for
FY 3/2019 will be explained within these materials.

・First, the Financial Results Summary for the First Nine Months of FY 3/2019 will be explained.

1

・The following is the explanation of NISSO's Non-consolidated Financial Results.
・Net sales amounted to 46,931 million yen (up 7,846 million yen or 20.1% year on year).
・Gross profit amounted to 8,514 million yen (up 1,366 million yen or 19.1% year on year).
・Operating profit amounted to 2,021 million yen (up 668 million yen or 49.4% year on year).
・Ordinary profit amounted to 2,011 million yen (up 668 million yen or 49.8% year on year).
・Profit amounted to 1,320 million yen (up 465 million yen or 54.5% year on year).
・Compared with the corresponding period of the previous fiscal year, both net sales and profits haveincreased significantly.
・The factors for the increases were:①Demand from Account Companies was very active.
②As a result of the significant increase in the number of new staff, in addition to the increase in thenumber of enrolled staff due to the non-increase in the turnover rate, net sales also grew.
③With the improvement of skills of skilled staff, unit costs from clients rose, and net sales per capita
increased.
NISSO believes that the items explained above are the results of strategies such as the recruitment
strategy, the human resources development strategy, as well as the skilled staff and AccountCompanies strategies which are finally producing full-fledged effects.

2・Shown above are graphs of NISSO's (non-consolidated) quarterly net sales and operating profit trends
plus expected figures for 4Q.
・Looking at the graphs, although it seems as if business performance may slow down in 4Q, it is theresult of the impact of the fewer number of working days due to the New Year's holidays and thenumber of calendar days in February. However, staff enrollment is continuously on the rise, orders havebeen received steadily, and growth trends have not slowed down by any means.

3・The following is the explanation of Consolidated Financial Results for FY 3/2019 3Q.
・Net sales amounted to 51,219 million yen (up 7,531 million yen or 17.2% year on year).
・Gross profit amounted to 8,977 million yen (up 1,202 million yen or 15.5% year on year).
・Operating profit amounted to 1,954 million yen (up 551 million yen or 39.3% year on year).
・Ordinary profit amounted to 1,971 million yen (up 558 million yen or 39.6% year on year).
・Profit attributable to owners of parent amounted to 1,286 million yen (up 385 million yen or 42.7% yearon year).
・As a whole, revenues and profits have increased.
・The General Human Resources Services Business has increased in revenues and profits along withNISSO's business performance, as explained earlier.
・In the nursing care business of Other Businesses, although net sales increased due to increase in thenumber of residents at "Sweetpea Higashi Totsuka", which opened on March 1, 2018, upfront
investment expenses have not yet been absorbed.

4

・Shown above are graphs of consolidated quarterly net sales and operating profit trends plus
expected figures for 4Q.

5

・The following is the explanation of Other Businesses.
・Compared with the closing date of FY 3/2019 2Q, losses have increased, and an operating loss of 267
million yen is expected for the full year.
・The factors were:①Although the number of residents has increased, the shortfall in the number of residents compared towhat was originally planned has had a significant impact. In order to resolve such a shortfall,increases in expenses of activities to promote occupancy is planned for 4Q.
②Since net sales have not increased due to this shortfall in projections regarding the number ofresidents, upfront investment expenses could not be absorbed.

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・The following is the explanation of NISSO's non-consolidated net sales by industry.
・The above is the year on year comparison of net sales by industry.
・Net sales are expanding in all industries. Among them, the automobiles and electronic components
industries are growing substantially as intended by NISSO's growth strategy.
・Net sales in the automobiles industry increased by 27.7% year on year, and increased by 26.7% year
on year in the electronic devices industry. In order to respond to the advanced needs of clients,
particularly in the automobiles and electronic devices industries, the number of enrolled staff also
increased as a result of the active placement of skilled staff to Account Companies. In addition, due tothe rise in unit costs of orders received, net sales increased significantly.

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・The following is the explanation of the trend of NISSO's enrolled staff.
・The number of enrolled staff at the end of December 2018 was 13,826.
The number of staff increased by 1,382 (11.1%) from 12,444 at the end of the previous fiscal year.
Although the number of enrolled staff increased by approximately 1,000 per fiscal year prior to NISSO'spublic stock offering (FY 3/2018), the number of enrolled staff increased by 1,382 in the first ninemonths of the current fiscal year.
・For reference, the number of enrolled staff at FY 3/2018 3Q-end was 12,132, which was an increase of635 staff (5.5%) from the end of the previous fiscal year.
・As described above, the increase in enrollment during the current fiscal year has been distinctive.

8

・The following is the explanation of NISSO's net sales per capita.
・The monthly net sales per capita for FY 3/2019 3Q amounted to 391 thousand yen, which was anincrease of 24,000 yen (6.6%) from the previous fiscal year.
・The factors for the increase are due to the promotion of the placement of skilled staff, the skills
enhancement of skilled staff who are already employed, and the rise in unit costs, etc. attributable tosuch factors.

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・The following is the explanation of NISSO's skilled staff.
・The number of skilled staff at FY 3/2019 3Q-end was 3,459 (approximately 1,600 at FY 3/2018-end).
・Although NISSO has had a business plan to increase the number of skilled staff by 2,000 per fiscal year,
at the time of public stock offering at FY 3/2018-end, the number of skilled staff remained at 1,600.
Thereafter, as a result of an increase in the number of appointees when the fiscal year changed, thenumber of skilled staff reached 2,000 at the end of June 2018. Subsequently, in order to recover fromthe delay, NISSO has been actively conducting the appointment and recruitment of skilled staff.
・In the current fiscal year, since the number of skilled staff has reached 3,459 at 3Q-end, NISSO believes
that the prospect of the goal of increasing the number of skilled staff by 2,000 per fiscal year, and toreach 4,000 by the end of March of the current fiscal year can be attained.

10

・The following is the explanation of NISSO's turnover rates.
・Although NISSO has been actively increasing the number of skilled staff, the turnover rate of skilled
staff has been maintained at 1.3% from 2Q.
・Although the overall turnover rate has increased slightly due to the significant increase in staff
enrollment, it can be said that it has remained largely unchanged.
・NISSO is not satisfied with this situation and will,①Once again reinforce the employment management system of staff②Construct a personnel system that makes working for a longer term more appealing through humanresources development③Increase the number of skilled staff by 2,000 per fiscal year
NISSO will endeavor to reduce the turnover rate through such measures.

11

・The following is the explanation of the status of NISSO's account companies.
・The Account Companies net sales composition ratio for FY 3/2019 3Q amounted to 42.8% of NISSO's
overall net sales, which was an increase of 4.6 points compared to 38.2% of the corresponding periodof the previous fiscal year (FY 3/2018 3Q), and a 0.5 point increase from FY 3/2019 2Q.
・This shows that there is a strong demand from Account Companies and that the assignment of skilled
staff is being carried out smoothly.
・In addition to raising the "top line" (or net sales, which is the first category of the statement of income)by continuing to assign skilled staff to Account Companies during the current fiscal year, NISSO willadvance efforts to improve profitability toward further growth.
・NISSO is steadily working to add new Account Companies for the next fiscal year, and is moving
forward with measures to increase the number of groups from the current 4 Groups to 5, 6 Groups in
the future.

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・The following is the explanation of NISSO's educational achievements.
・The educational achievement for FY 3/2019 3Q amounted to 1,947 participants, with a total of 5,944
participants for the current fiscal year.
・923 participants received skilled staff education, which is a substantial increase compared to the 393
participants in FY 3/2019 2Q.
・The semiconductor manufacturing equipment maintenance education course held at NISSO TechnicalCenter Naka-Nihon, which opened in May 2018, is currently in its 10th term and has had a total of 103
participants.
・By conducting equipment maintenance education for skilled staff, NISSO will continue to increase sales
through the rise in unit costs of orders received, as well as continuing to improve profitability.

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・The following is the explanation of NISSO's future market trends.
・Regarding the automobiles-related industries, a major manufacturer, which is one of NISSO's AccountCompanies, is expected to maintain steady performance with the introduction of new cars. Whenlooking at other manufacturers, although it seems as if some have declined in terms of production, as awhole, the industry's strengthened conditions have not changed.
When looking at the conditions of the industry peers of automobiles-related companies, especially thatof auto body manufacturers, the situation regarding staff retention is poor, and many leave their jobs
after only working for a short period of time. However, at NISSO, since staff receive solid education
prior to their assignments, turnover rates are low, and from this, it is believed that needs for NISSO
will continue to remain steady.
・In the electronic components-related industries, there were some news reports (about the declining
sales of a particular) smartphone manufacturer, and when looking at the smartphone market, it isthought that new models aren't being sold as much since there is a considerable number ofsmartphones being utilized by people all over the world. However, it is expected that electroniccomponents and semiconductors for automotive applications will remain strong.
In particular, with the deployment of the highly anticipated 5G network scheduled for later this year, forexample, considering that an increased amount of key devices will be utilized, such as in the number ofkey devices per automobile, and in the automated operation of construction and agricultural machinery,
although there was some decline in smartphone-related orders received, when viewing the electroniccomponents industry as a whole, NISSO believes that there won't be a decline from the next fiscal year.
・With regards to recruitment, the opening-to-application ratio of jobs remain at a high level, and there
are staffing shortages in every field.
Although there are labor shortages in the automobiles and electronic components-related industries,
which are NISSO's "main targets", requests for not only the quantity, but also the quality (of staff) arebeing sought by clients.
It is in this regard that NISSO is being counted on by clients, and it is believed that the key is to not only
simply respond to their increasing needs, but also how NISSO can further develop and assign personnel
to the level that the clients are seeking.
・NISSO believes that how both quality and quantity of personnel are secured will lead to further growthfrom the following fiscal year onwards.

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・NISSO was selected as First Place in the newly announced "Manufacturing Dispatching" ranking by
Oricon Customer SatisfactionⓇ ranking 2019, which started this year.
・This ranking was based on a satisfaction survey targeting actual service-users, with 6 evaluation items:"Ease of Registration・Contract", "In-house Training", "Welfare Programs", "Response of ContactPersonnel", "Information Provided" and "Negotiating Capability". NISSO was ranked #1 in 3 categories:“Welfare Programs”, “Response of Contact Personnel”, and “Information Provided”, and was ranked #2
in "Ease of Registration・Contract", "In-house Training", and "Negotiating Capability" by a narrowmargin.
NISSO has had absolute confidence regarding human resources development, and is very disappointedof the #2 ranking in the human resources development-related category in this evaluation. However,considering the survey period, if it was conducted at present, NISSO believes that an evaluation of a #1
ranking may be merited.
・There were 22 companies that were evaluated in this survey, some of which are listed companies.
However, when looking at the rankings, the companies that were ranked #2 and #3 were not listed.
・This survey was a questionnaire survey of those who are actually working, and NISSO believes that its
contents reflect that there is competition in the face of raising the level of employee satisfaction of staff,
which is something NISSO must absolutely achieve in the medium term.

15・The following is the explanation of NISSO's ESG Initiatives.
・In order to achieve sustainable growth, NISSO is promoting initiatives to address E (environmental), S(social) and G (governance) related issues.
・NISSO is scheduled to sign and participate in the United Nations Global Compact in March, which is a
first for human resources-related companies.
・NISSO also plans to actively engage in activities related to SDGs (Sustainable Development Goals).

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・The following is the explanation of the Earnings Forecast for FY 3/2019.

17

・The following is the explanation of the Consolidated Earnings Forecast for FY 3/2019.
・The Consolidated Earnings Forecast for FY 3/2019 which was announced on May 10, 2018 has beenrevised.
・Net sales of 69,264 million yen (up 3,577 million yen or 5.4% from prior to revision) is expected.
・Operating profit of 2,775 million yen (up 676 million or 32.2% from prior to revision) is expected.
・Ordinary profit of 2,798 million yen (up 653 million or 30.5% from prior to revision) is expected.
・Profit attributable to owners of parent of 1,746 million yen (up 369 million or 26.9% from prior torevision) is expected.
・The reasons why there were upward revisions in plans were because, as mentioned earlier, NISSO'sstrategies such as the recruitment strategy, the development strategy to nurture staff who havebeen hired, and strategies for Account Companies and skilled staff that enable such strategies to standout, have begun to take effect. As a result, the number of enrolled staff, net sales per capita, and net
sales have increased. On the other hand, although NISSO has improved the treatment andcompensation of staff, profits have increased.
・For the following fiscal year onward, NISSO has already begun to put forward the business strategies in
the mid-term management plan without any letup. Although there are those who feel that next fiscal
year's performance will not match or exceed that of the current fiscal year, NISSO would like topromote business with the idea that speed will increase compared to this fiscal year.

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・The following is the explanation of the consolidated earnings trends.
・Shown above are graphs of the consolidated earnings trends after revisions.

19

・For reference, the following is the explanation of NISSO's Non-consolidated Earnings Forecast.
・Although these figures are not quite yet at NISSO's level of satisfaction, and it has been said that therates of profitability are low within the industry, they are gradually approaching the standard levels ofthe industry.
Since NISSO has already drawn up strategies that will enable the achieving of overall profitability that is
top-class within the industry, by accelerating the mid-term management plan and implementing its
measures, NISSO aims to advance the improvement of profitability while speedily raising the top line ofsales.

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・The following is the explanation of the Shareholder Return Policy.

21

・The following is the explanation of the Shareholder Return Policy.
・Regarding the dividend payout for FY 3/18, as of August 22, 2018, NISSO'S common stock was split at
a ratio of 2 shares for 1 share. The dividend amount of 42 yen for FY 3/2018 is the dividend amount
before the stock split, and the current dividend amount is 21 yen.
・The dividend payout ratio for the current fiscal year is basically 30%. However, it may not just be 30%,
since the dividend payout ratio is basically set at 30% on the premise that growth does not slow down,and NISSO hopes that it can be understood that the dividend amount will increase with certainty.

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・The status of the quarterly consolidated finances is as explained in the above slide.

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