Consolidated Financial Results for the First Nine Months of FY 3/2023[Japanese GAAP]
February 6, 2023
Company Name
Securities CodeNISSO CORPORATION
6569
ＵＲＬ https://www.nisso.co.jp/

Representative(Title)Representative Director,
President & CEO
Sr. Executive Officer

Stock Exchange Listing: Tokyo（Name）Ryuichi Shimizu

Contact Person(Title)（Name）Kenichi Nomura ＴＥＬ +81-45-514-4323
Scheduled date of filing
Scheduled date of－
February 13, 2023
Quarterly Report
payment of dividend
Preparation of supplementary materials for(Scheduled to be posted on the Company's website on February 6, 2023 (Mon.))quarterly financial results: Yes
Holding of quarterly financial results(Scheduled to be held for institutional investors and analysts on February 9,
meeting: Yes
2023 (Thu.))（All amounts are rounded down to the nearest million yen）

1.

Consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2023
(April 1, 2022 - December 31, 2022)(1) Consolidated results of operations（Percentages represent year-on-year changes）
Net salesFirst nine months ended

December 31, 2022
December 31, 2021
(Note) Comprehensive income

Million yen％

67,201
56,97717.9
13.0

Operating profit

Ordinary profit

Million yen

Million yen

First nine months ended

December 31, 2022
December 31, 2021

Yen

Yen

27.55
30.48

(2) Consolidated financial position
Total assets
December 31, 2022
March 31, 2022

2.

Million yen％

937 (9.5)
1,036 (19.3)

924 Million yen (-10.0%)
1,027 Million yen (-20.1%)

Diluted net income
per share

27.57
30.50

As of

％

1,501 (5.9)
1,595 (20.4)

For the first nine months ended December 31, 2022:
For the first nine months ended December 31, 2021:

Net income per share(Reference) Equity capital％

1,398 (0.6)
1,406 (16.2)

Profit attributableto owners of parent

Net assets

Equity ratio

Million yen

Million yen

29,10027,462

14,141
13,559As of December 31, 2022
As of March 31, 2022

％
47.8
49.4

13,899 Million yen
13,559 Million yen

Dividends
Dividend per share
1Q-endFiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023
(Forecast)

2Q-end3Q-endYear-end

Total

Yen

Yen

Yen

Yen

Yen

－

0.00

－

18.00

18.00

－

0.00

－
16.00

16.00

(Note) Revisions to the most recently announced dividend forecast: None

3. Consolidated Forecast for the Fiscal Year Ending March 31, 2023
(April 1, 2022 – March 31, 2023)（Percentages represent year-on-year changes）
Profit attributable Net income
Net sales
Operating profit Ordinary profit
to owners of parent per share

Full year(Note) 1.
2.

Millionyen％

Millionyen％

Millionyen％

91,000

17.3

2,200

5.4

2,300

(2.9)

Million
yen

％

Yen

1,500 (11.6)

44.11

Revisions to the most recently announced dividend forecast: Yes
For details regarding the Consolidated Forecast, please refer to the "Notice of Revisions of Full-year Consolidated
Forecast for the Fiscal Year Ending March 31, 2023" announced today (Monday, February 6, 2023).

※

Notes
(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting inchanges in the scope of consolidation): None
(Note) Although not applicable to changes in specified subsidiaries, Nikon Nisso Prime Corporation has been included in thescope of consolidation from the consolidated cumulative second quarter.

(2) Application of special accounting methods for the presentation of quarterly consolidated financial
statements: None
(3) Changes in accounting policies and accounting estimates, and restatements① Changes in accounting policies due to revisions in accounting standards, etc.:② Changes in accounting policies other than ① above:③ Changes in accounting estimates:④ Restatements:(4) Number of outstanding shares (Common stock)① Number of shares outstanding at
As of Dec. 31,
the end of the period (including2022
treasury shares)②③

Number of treasury shares at theend of the period

As of Dec. 31,

Average number of shares
outstanding during the period(Quarterly total)

First nine2022

34,346,800 Shares

328,480 Shares

As of Mar. 31,
2022
As of Mar. 31,
2022

None
None
None
None

34,330,800 Shares

348,444 SharesFirst ninemonths ended

33,967,714 Shares months ended

Dec. 31, 2022

Dec. 31, 2021

33,968,784 Shares※

The quarterly financial statement is not subject to the quarterly review procedures of certified public
accountants or auditing corporations※

Cautionary statement on the appropriate use of earning forecasts, and other special items（Notes on forward-looking statements, etc.）
・ Earnings forecasts regarding future performance and other forward-looking statements in thismaterial are based on certain assumptions judged to be valid and on information that is currently
available to the Company, and do not represent promises by the Company that these figures will beachieved. In addition, actual results may differ significantly due to a variety of factors. For
prerequisite conditions, etc. regarding the earnings forecasts, please refer to "1. Qualitative
Information on Quarterly Financial Results, (3) Description of Future Forecast Information such as
Consolidated Forecasts, etc." on P.5 of the attachments.
（Supplementary materials for quarterly financial results and method of obtaining content for quarterly
financial results meeting）
The Company is planning to hold a briefing session for institutional investors and analysts on
Thursday, February 9, 2023.
Quarterly financial results briefing materials to be used on that day will be posted on the Company's
website on the day of the announcement of financial results (Monday, February 6, 2023).

（Reference）Summary of Non-consolidated Financial Results
Non-consolidated Financial Results for the First Nine Months of the Fiscal Year Ending March 31, 2023
(April 1, 2022 – December 31, 2022)(1) Non-consolidated results of operations（Percentages represent year-on-year changes）
Net salesFirst nine months ended

Million yen

December 31, 2022
December 31, 2021

60,022
52,668Operating profit
％
14.0
14.0

Net income per shareFirst nine months ended

December 31, 2022
December 31, 2021％
1,399 (2.1)
1,429 (16.8)

Million yen

Yen

Yen

28.25
29.14

28.24
29.12

Equity capital

Net assets％
960 (3.0)
989 (21.7)

Million yen

Equity ratio

Million yen

Million yen

25,981
25,32913,257
12,896

December 31, 2022
March 31, 2022
(Reference)％
1,492 (2.3)
1,528 (22.1)

Million yen

Quarterly net profit

Diluted net income
per share(2) Non-consolidated financial position
Total assets
As of

Ordinary profit

As of December 31, 2022:

13,257 Million yen

As of March 31, 2022

12,896 Million yen

％
51.0
50.9

○Contents of Attachments
１．Qualitative Information on Quarterly Financial Results ……………………………………………………

2（１）Description of Results of Operations ………………………………………………………………………

2（２）Description of Financial Position ……………………………………………………………………………

5（３）Description of Future Forecast Information such as Consolidated Forecasts, etc. ………………

5

２．Quarterly Consolidated Financial Statements and Notes ………………………………………………………

6（１）Quarterly Consolidated Balance Sheet ………………………………………………………………………

6（２）Quarterly Consolidated Statements of Income and Comprehensive Income ……………………………

7

Quarterly Consolidated Statement of Income
For the First Nine Months ended December 31, 2022 ……………………………………………………

7

Quarterly Consolidated Statement of Comprehensive Income
For the First Nine Months ended December 31, 2022 ……………………………………………………

8（３）Notes regarding Quarterly Consolidated Financial Statements …………………………………………

9（Notes regarding the Going Concern Assumption） …………………………………………………………

9（Notes on Significant Changes in the Amount of Shareholders' Equity） ……………………………

9（Additional Information） ………………………………………………………………………………………

9

- 1 -

１．Qualitative Information on Quarterly Financial Results（１）Description of Results of Operations
Japan's economy showed signs of recovery during the current consolidated cumulative third quarter(hereinafter, the "period under review"). On the other hand, it is necessary to pay close attention to
the risk that a downturn in overseas economies resulting from global monetary tightening will exert
downward pressure on its economy, as well as price increases and supply-side constraints.
In such a business environment, based on its mission of "Creating opportunities and hopes for people
to work", the Nisso Group (hereinafter, the "Group") aims to create workplaces where workers can gain
a sense of self-fulfillment and flourish, with human resources solution services that support thegrowth of companies and people. In addition, the Group is promoting initiatives "To transform into a
corporate group with high-growth potential" in order to provide services that can respond to socialchanges and changes in industrial structures.
The Group defines materiality (key issues) for the realization of its mission as "Creation of acomfortable workplace", "Responding to social changes and changes in industrial structures", and"Strengthening of governance". The Group aims to enhance corporate value through the creation ofsocial value by promoting digitization (digitalization) and actively investing in human resources,
maximizing employee satisfaction and customer/client satisfaction, providing high value-added
services, and strengthening management structures and internal controls.
The results for the period under review are as follows:

Net sales
Operating profit
Ordinary profit
Profit attributable toowners of parent

FY 3/2022
Cons. cumulative 3rd Qtr.
(April 1, 2021 December 31, 2021)
Amount(YoY)
56,977(up 13.0%)
1,406(down 16.2%)
1,595(down 20.4%)
1,036(down 19.3%)(Unit: Million yen)
FY 3/2023
Cons. cumulative 3rd Qtr.
(April 1, 2022 December 31, 2022)
Amount(YoY)
67,201(up 17.9%)
1,398(down 0.6%)
1,501(down 5.9%)
937(down 9.5%)

At NISSO CORPORATION (hereinafter, "the Company", non-consolidated), which is the core of the Group,
during the period under review, the number of enrolled manufacturing staff increased steadily to
16,111 (up 1,166 from the end of the previous consolidated fiscal year), as a result of strengthening
recruitment-related promotions and increasing the number of interviewees, in order to meet thevigorous human resources needs of its clients. In the automobiles-related industry, despite thecontinued impact on operating hours due to the shortage of semiconductors and other parts, as a resultof strong human resources needs, net sales amounted to 26,610 million yen (up 16.0% year-on-year). In
the electronic devices-related industry, net sales amounted to 18,659 million yen (up 15.4% year-onyear), partly due to the strong sales of power semiconductors for in-vehicle products. Also, theCompany is striving to expand orders by actively developing sales activities centered on AccountCompanies, who are important clients, and Account Companies accounted for 42.7% of the Company's net
sales. In addition, with the aim of providing high value-added services, the Company has beendeveloping human resources by utilizing 8 training facilities nationwide, and the total number ofeducation and training participants, including manufacturing staff and engineers, was 1,935 (up 258
year-on-year). As a result of promoting these initiatives, net sales per capita amounted to 425
thousand yen (which was 412 thousand yen in the corresponding period of the previous fiscal year), andthe Company's net sales increased by 14.0% year-on-year.
On the other hand, in terms of profits, despite an increase in the number of enrolled staff, theeffects of COVID-19 and operational adjustments due to parts shortages among manufacturers overall
still remained, and the Company's operating profit decreased by 2.1% year-on-year.
Based on its policy of putting the safety of its clients and employees as a top priority, the Grouphas established the "COVID-19 Countermeasures Headquarters", and is promoting business activities thatstrengthen measures to prevent the spread of COVID-19 infections.

- 2 -The results of operations by segment are as follows:（General Human Resources Services Business）
FY 3/2022
Cons. cumulative 3rd Qtr.
(April 1, 2021 December 31, 2021)
Amount(Unit: Million yen)
FY 3/2023
Cons. cumulative 3rd Qtr.
(April 1, 2022 December 31, 2022)
Amount(YoY)

Net sales
Manufacturing・Production Human
48,84754,400(up
11.4%)
Resources Services
Engineering Human Resources
4,015
6,331
(up
57.7%)
Services
Administrative Human Resources
1,835
1,715
(down
6.6%)
Services
Other Human Resources Services
44
2,498(up 5,565.6%)
Total
54,74264,946(up
18.6%)
Segment profit
1,373
1,360
(down
1.0%)
(Note) As for net sales of Other Human Resources Services, net sales of Nikon Nisso Prime Corporation
have been recorded from the second quarter consolidated accounting period of FY 3/2023.
Manufacturing・Production Human Resources Services (NISSO CORPORATION, Vector Shinwa Co., Ltd.)In the Manufacturing・Production Human Resources Services, the Group is mainly engaged in
manufacturing dispatching and manufacturing contracting, and will strengthen its service provisionsystem to clients and improve the share ratio of account clients in order to improve efficiency andstrengthen its “earning power”.
During the period under review, the number of enrolled staff amounted to 14,677 (up 857 year-onyear) by responding to the strong human resources needs of clients. In addition, as a result ofefforts to improve communication in order to create a comfortable workplace, the turnover rate of
employed workers remained at a low level of 3.8% (which was at 3.9% in the corresponding period of
the previous fiscal year). As a result, net sales per capita amounted to 421 thousand yen (which was
at 408 thousand yen in the corresponding period of the previous fiscal year), partly due to theeffect of increased enrollment, and revenue increased by 11.4% year-on-year.
Engineering Human Resources Services (NISSO CORPORATION, Vector Shinwa Co., Ltd.)In the Engineering Human Resources Services, the Group dispatches engineers mainly in the
manufacturing industry and provides SES (System Engineering Service), and it will continue to expand
the high value-added area and develop it into the next core business.
During the period under review, the number of enrolled engineers was 1,542 (up 560 year-on-year) byexpanding educational opportunities for employed workers, and the turnover rate remained at a low
level of 2.1% (which was at 1.9% in the corresponding period of the previous fiscal year). As aresult, net sales per capita amounted to 524 thousand yen (which was at 512 thousand yen in thecorresponding period of the previous fiscal year), and due in part to the effect of an increase inenrollment, revenue increased by 57.7% year-on-year.
In addition, the Company plans to open a training center in Kumamoto Prefecture in April 2023 inorder to respond to the shortage of human resources at semiconductor-related companies. By doing so,
the Company aims to further increase the number of education and training participants and expand its
engineering business.
Administrative Human Resources Services (Nisso Brain Co., Ltd.)In the Administrative Human Resources Services, the Group provides general office work dispatching
and BPO (Business Process Outsourcing), and is working to restructure services and develop new menus.
During the period under review, although the Group promoted recruitment activities centered on
public relations and customer attraction activities, due to sluggish growth in the number ofregistrants, the number of enrolled administrative dispatched staff amounted to 627 (down 36 year-onyear).

- 3 -Other Human Resources Services (Nikon Nisso Prime Corporation, Nisso Pure Co., Ltd.)In Other Human Resources Services, the Group is constructing a model which enable older employees
and employees with disabilities to flourish.
The Company acquired additional equity interest in Nikon Nisso Prime Corporation, an equity-method
affiliate, and made it a consolidated subsidiary on July 1, 2022. In addition to enhancing its humanresources dispatching business, the company concerned is working to support the active participationof older employees, as well as developing, securing and building a structure for employment
opportunities where such employees can continue to work. The number of older employees employedduring the period under review was 567. As a result, net sales of this service have increased.
Nisso Pure Co., Ltd., a special-purpose subsidiary of the Company, aims to create a workplaceenvironment where diverse human resources can flourish. Rather than simply hiring employees withdisabilities, the Group is promoting activities that take advantage of the characteristics of eachindividual, such as being entrusted with light work by external clients, and aiming to coexist withlocal communities, including school officials, support organizations, and the government. The numberof employees with disabilities during the period under review was 206.
（Other Businesses）(Unit: Million yen)
FY 3/2022
Cons. cumulative 3rd Qtr.
(April 1, 2021 December 31, 2021)
AmountNet sales
Nursing Care・Welfare Services
Segment profit

2,240
35

FY 3/2023
Cons. cumulative 3rd Qtr.
(April 1, 2022 December 31, 2022)
Amount
(YoY)
2,271
40

(up 1.4%)(up 14.0%)

Nursing Care・Welfare Services (Nisso Nifty Co., Ltd.)In the Nursing Care・Welfare Services, the Group provides facility nursing care and home-based
nursing care, and is working to restructure its provided services while developing new menus.
During the period under review, in the facility nursing care business, which is the mainstay ofthis service, the Group promoted Web previews and other activities on the premise of preventing the
spread of COVID-19 infections. The number of residents in the nursing care facilities has recovered
to 375 (up 5 year-on-year), and the occupancy rates at the facilities was 93.3% (which was at 92.0%
in the corresponding period of the previous fiscal year), which was an increase of 1.4% in revenue
year-on-year.

- 4 -（２）Description of Financial Position（Assets）
Current assets at the end of the current third quarter consolidated accounting period (hereinafter,the "third quarter") amounted to 21,042 million yen, which was an increase of 1,974 million yen fromthe end of the previous consolidated fiscal year. This was mainly due to an increase of 1,682 million
yen in notes and accounts receivable (trade).
Non-current assets at the end of the current third quarter amounted to 8,057 million yen, which wasa decrease of 337 million yen from the end of the previous consolidated fiscal year. This was mainly
due to a decrease of 205 million yen in other of investments and other assets.
As a result, total assets amounted to 29,100 million yen, which was an increase of 1,637 million yen
from the end of the previous consolidated fiscal year.
（Liabilities）
Current liabilities at the end of the current third quarter amounted to 11,721 million yen, which
was an increase of 1,310 million yen from the end of the previous consolidated fiscal year. This was
mainly due to an increase of 1,064 million yen in accrued expenses.
Non-current liabilities at the end of the current third quarter amounted to 3,236 million yen, which
was a decrease of 255 million yen from the end of the previous consolidated fiscal year. This was
mainly due to a decrease of 367 million yen in long-term loans payable.
As a result, total liabilities amounted to 14,958 million yen, which was an increase of 1,054
million yen from the end of the previous consolidated fiscal year.
（Net assets）
Total net assets at the end of the current third quarter amounted to 14,141 million yen, which was
an increase of 582 million yen from the end of the previous consolidated fiscal year. This was mainly
due to the 937 million yen in profit attributable to owners of parent, 611 million yen in dividends ofsurplus, and 242 million yen in non-controlling interests.
As a result, the equity ratio was at 47.8% (which was at 49.4% at the end of the previous
consolidated fiscal year).
（３）Description of Future Forecast Information such as Consolidated Forecasts, etc.
Based on the results of the period under review, the Full-year Consolidated Forecast announced inthe "Consolidated Financial Results for FY 3/2022" on May 12, 2022 has been revised.
For details, please refer to the "Notice of Revisions of Full-year Consolidated Forecast for the
Fiscal Year Ending March 31, 2023" announced today (Monday, February 6, 2023).

- 5 -２．Quarterly Consolidated Financial Statements and Notes（１）Quarterly Consolidated Balance Sheet(Unit: Million yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Current portion of long-term loans payable
Accrued expenses
Income taxes payable
Contract liabilities
Provision for bonuses
Provision for directors' bonuses
Provision for shareholder benefit program
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets- 6 -FY 3/22

3Q of FY 3/23

(As of Mar. 31, 2022)(As of Dec. 31, 2022)

8,779
9,390
902
(4)
19,068

8,819
11,0731,155(4)21,042

1,771
2,670
136
4,578

1,757
2,670
149
4,577

970
696
1,667

894
640
1,535

2,177
(28)
2,149
8,394
27,462

1,972
(27)
1,944
8,057
29,100

490
5,381
395
247
1,058
－
63
2,773
10,411

490
6,445
129
242
732
6
6
3,667
11,721

2,509
473
509
3,492
13,903

2,141
607
487
3,236
14,958

2,016
2,368
9,454
(298)
13,540

2,016
2,367
9,775
(281)
13,8780
17
18－
13,55927,4620
20
21
242
14,141
29,100（２）Quarterly Consolidated Statements of Income and Comprehensive Income（Quarterly Consolidated Statement of Income）（For the First Nine Months ended December 31, 2022）(Unit: Million yen)First nine months of FY 3/22
First nine months of FY 3/23
(Apr. 1, 2021 - Dec. 31, 2021) (Apr. 1, 2022 - Dec. 31, 2022)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted forusing equity method
Subsidy income
House rent income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted forusing equity method
Rent expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on sales of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent- 7 -56,97747,483
9,493
8,086
1,406

67,201
56,625
10,576
9,177
1,398

2
0

2
0

18

-

149
30
29
230

131
30
30
195

0

7

-

46

12
28
41
1,595

14
23
92
1,501

7
7
1,588
425
127
552
1,036
1,036

1,501
453
125
578
922
(14)
937

（Quarterly Consolidated Statement of Comprehensive Income）（For the First Nine Months ended December 31, 2022）(Unit: Million yen)First nine months of FY 3/22
First nine months of FY 3/23
(Apr. 1, 2021 - Dec. 31, 2021) (Apr. 1, 2022 - Dec. 31, 2022)

ProfitOther comprehensive income
Remeasurements of defined benefit plans, netof taxShare of other comprehensive income ofentities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to ownersof parent
Comprehensive income attributable to noncontrolling interests

- 8 -

1,036

922

(8)

2

(0)

(0)

(8)
1,027

2
924

1,027

939

-

(14)

（３）Notes regarding Quarterly Consolidated Financial Statements（Notes regarding the Going Concern Assumption）
Not applicable.
（Notes on Significant Changes in the Amount of Shareholders' Equity）
Not applicable.
（Additional Information）（Accounting Estimates Associated with the Spread of COVID-19 Infections）
There are no significant changes to the assumptions regarding the effects of the spread of COVID-19
infections described in the (Additional Information) section of the Annual Securities Report (inJapanese only) for the previous consolidated fiscal year.

- 9 -