May 10, 2017
Company name: Nitta Gelatin Inc.
Representative: Koichi Ogata, Representative Director and President(Stock code: 4977; First Section of Tokyo Stock Exchange)
Contact: Toru Tamaoka, Director and Executive Officer
General Manager of Administration Division
Tel: +81-72-949-5381

Notice Concerning Recording of Non-Operating Income and Extraordinary Loss,
Differences Between Full-Year Consolidated Financial Forecasts and Results,
and Differences Between Non-consolidated Financial Results
and Previous Fiscal Year’s Results
Nitta Gelatin Inc. hereby announces that it has recorded non-operating income and an extraordinary
loss for the fiscal year ended March 31, 2017, along with reporting differences between its full-year
consolidated financial forecasts for the fiscal year ended March 31, 2017 and the results announced
today.
At the same time, Nitta Gelatin also wishes to report differences between its non-consolidated
financial results for the fiscal year ended March 31, 2017 and the previous fiscal year’s results.
Details are as follows.

1. Recording of non-operating income (foreign exchange gains) (consolidated andnon-consolidated)
The Company has recorded foreign exchange gains of ¥214 million on a consolidated basis(non-consolidated: ¥249 million) as non-operating income for the fiscal year ended March 31, 2017.
The gain was mainly caused by a change in the valuation of the foreign-currency denominatedassets and liabilities of the Company and the Group in line with the foreign exchange market
conditions on March 31, 2017.

2. Recording of extraordinary loss (loss on valuation of shares of subsidiaries)(non-consolidated)
Nitta Gelatin recorded a loss on valuation of shares of subsidiaries of ¥527 million as an
extraordinary loss for the fiscal year ended March 31, 2017.
This loss was due to a substantial decrease in the valuation of the fair value of shares of
consolidated subsidiaries, Nitta Casings Inc. and Reva Proteins Ltd.
The extraordinary loss will not affect the consolidated business results, as the entire amount will
be eliminated in Nitta Gelatin’s consolidated financial statements.

-1-3. Differences between full-year consolidated financial forecasts for the fiscal year
ended March 31, 2017 and results (from April 1, 2016 to March 31, 2017)
Net income

Net income
per share

Net sales

OperatingincomeOrdinary
incomeMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)35,0001,700

1,400800¥43.54

Results for the Year Ended
March 2017 (B)36,575

1,617

1,831

693

¥37.74

Difference (B-A)

1,575

(83)

431(107)―4.5(4.8)

30.8(13.3)―

36,885

1,273

979

477

26.00

% change(Reference)
Results for the previous fiscal year
(ended March 31, 2017)attributable toowners of theparent

Reasons for the difference
Net sales surpassed the previous forecast, owing to firm sales in Japan, along with a positive
contribution from the inclusion of Vyse Gelatin, LLC in the scope of consolidation.
On the earnings front, although operating income was slightly below the previous forecast,ordinary income surpassed the previous forecast mainly due to the positive impact of foreignexchange gains.
Meanwhile, net income attributable to owners of the parent fell below the previous forecast
mainly due to the recording of loss on retirement of noncurrent assets at overseas subsidiaries.

4. Differences between non-consolidated financial results for the fiscal year ended
March 31, 2017 (from April 1, 2016 to March 31, 2017) and the previous fiscal year’s
results
Net income

Net income
per share

Net sales

Operatingincome

Ordinary
incomeMillions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

Previous forecast (A)22,746789

837(269)¥(14.68)

Results for the Year Ended
March 2017 (B)22,902

1,229

1,647

663

¥36.14

Difference (B-A)

155

440

809

933

―

% change(0.7)

55.8

96.7――

attributable toowners of theparent

Reasons for revisions
Net sales surpassed the previous fiscal year’s result because of firm sales in Japan.
On the earnings front, operating income, ordinary income, and net income surpassed the previousyear’s results, mainly owing to an increase in net sales, the implementation of cost reductions andthe positive impact of foreign exchange gains.

-2-