Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2021
(Based on Japanese GAAP)
January 24, 2022
NAGAWA Co.,Ltd.
Company name:
Stock exchange listing: Tokyo
Stock code:
Representative:

9663
President

URL

https://group.nagawa.co.jp/Osamu Takahashi

Inquiries:
Chief Financial Officer
Scheduled date to file Quarterly Securities Report:

Ryoh Shimmura
February 10, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

No

TEL

03-5288-8666(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended December 31, 2021
Nine months ended December 31, 2020Millions of yen
21,833
21,233

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
2.8
3,243
0.6
3,458
(0.1)
2,206(4.7)
0.5
3,222
25.1
3,462
25.4
2,314
31.8

Earnings per share

Diluted earnings per share

Yen
140.93148.59Nine months ended December 31, 2021
Nine months ended December 31, 2020

Yen––(2) Consolidated financial position
Total assets
As of December 31, 2021
As of March 31, 2021

Net assetsMillions of yen
54,70453,409Equity ratio

Millions of yen
50,21248,072

Net assets per share
%
91.8
90.0

Yen
3,200.17
3,084.71

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00
0.00

Yen––

Yen
60.00

Yen
60.00

65.00

65.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
31,000
5.5
4,600
7.4
4,800
5.8
3,300
8.7
211.81

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2021

16,357,214 shares As of March 31, 2021

16,357,214 shares

Number of treasury shares at the end of the period
As of December 31, 2021

666,640 shares As of March 31, 2021

772,967 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2021

15,659,776 shares Nine months ended December 31, 2020

215,579,388 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of December 31, 2021

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

14,2151,686

11,8701,955Electronically recorded monetary claims - operating
Accounts receivable - trade

1,851
4,655

2,108
3,888

Contract assets
Merchandise and finished goods

–
1,830

105
1,810

Work in process
Raw materials and supplies

111
172

176
379

Other
Allowance for doubtful accounts

220
(1)

208
(0)

24,74322,502

Assets for rent, net
Buildings and structures, net

8,433
1,572

9,740
1,479

Land
Construction in progress

6,442
4

7,070
61

261

204

16,713

18,555214

255

Total current assets
Non-current assets
Property, plant and equipmentOther, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities

10,401

12,206

Leasehold and guarantee deposits
Retirement benefit asset

579
84

565
109

Deferred tax assets
Other152
519

41
468

Allowance for doubtful accounts

(0)

(0)

Total investments and other assets

11,737

13,391

28,66532,20253,40954,704

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2021

As of December 31, 2021

Liabilities
Current liabilities
Accounts payable - trade

2,181

2,115

Income taxes payableProvision for bonuses

992
295

281
142

Provision for bonuses for directors (and other officers)
Provision for loss on liquidation of subsidiaries and55

45

78–

16

associates
Asset retirement obligations
Other

912

1,064

4,444

3,674

Long-term borrowings
Long-term accounts payable - other

587
27558
26

Retirement benefit liability
Asset retirement obligations

081

051

Other

195

180

Total non-current liabilities

892

817

5,336

4,491

Share capital
Capital surplus

2,855
7,933

2,855
8,559

Retained earnings
Treasury shares

38,809(2,171)

40,078(1,898)

Total shareholders' equity

47,42749,594

Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

648

618

Foreign currency translation adjustment

(3)

(0)

Total accumulated other comprehensive income

645

618

––

48,07250,21253,40954,704Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2020

December 31, 2021

Net sales
Cost of sales

21,233
12,265

21,833
12,611Gross profit

8,967

9,222

Selling, general and administrative expenses

5,745

5,978

Operating profit

3,222

3,243

Interest income
Dividend income

5216

29203

Rental income
Miscellaneous income

1918

18
17

Total non-operating income

259

268

Non-operating income

Non-operating expenses
Commission expenses–4Foreign exchange losses
Share-based remuneration expenses

811524

Miscellaneous losses

019

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets

2053

3,462

3,458

03

Gain on sale of investment securities

24–

Total extraordinary income

24317–

80
44

Extraordinary losses
Loss on disposal of non-current assets
Loss on valuation of investment securities
Provision for loss on liquidation of subsidiaries and associates–

3

Total extraordinary losses

17127

Profit before income taxes

3,468

3,334

Income taxes - current

1,0931,002

Income taxes - deferred

59

124

Total income taxes

1,153

1,127

Profit

2,314

2,206

Profit attributable to owners of parent

2,314

2,206

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2020

December 31, 2021

2,314

2,206

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

765(0)(30)
2

Total other comprehensive income764(27)

3,079

2,179

3,079

2,179

––

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6