Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]May 9, 2024
Company name: Nippon Tungsten Co.,Ltd.
Stock exchange listing: Tokyo, Fukuoka
Code number: 6998
URL: https://www.nittan.co.jp/
Representative: Shinji Goto
President and Representative Director
Contact: Hisashi Haraguchi
Director and Exective Officer
Phone: +81-092)415-5500
Scheduled date of Annual General Meeting of Shareholders: June 27, 2024
Scheduled date of commencing dividend payments: June 7, 2024
Scheduled date of filing annual securities report: June 27, 2024
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Fiscal year ended
March 31, 2024
11,464(9.3)
476(48.6)
786(36.0)
527(31.3)March 31, 2023
12,6455.0
927
1.5
1,227(0.9)
767(11.8)(Note) Comprehensive income:Fiscal year ended March 31, 2024:¥1,119 million [36.6%]
Fiscal year ended March 31, 2023:¥819 million [(12.5) %]Basic earnings per Diluted earnings per Rate of return onshare
shareequity

Ordinary profit tototal assets ratio

Yen
Yen%
Fiscal year ended
March 31, 2024
108.87108.59
4.5
March 31, 2023
158.78158.34
7.0(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

Operating profit tonet sales ratio

%%

4.6
7.4
¥
¥

4.2
7.3
85 million
49 million(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

Millions of yen

17,137
16,807
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio¥¥

12,113
11,251
12,103 million
11,241 million

Net assets per share%

Yen

70.6
66.9

2,498.79
2,324.12(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen
Millions of yen
Millions of yen
Millions of yen
Fiscal year ended
March 31, 2024
289
(1,071)(302)
3,479
March 31, 2023
1,171
(238)
(341)
4,513(Note) The Company conducted a 2-for-1 stock split of shares of common stock on January 1, 2024. Basic earnings per share, diluted
earnings per share, and net assets per share are calculated, assuming that the stock split was conducted at the beginning of theprevious fiscal year.

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total
dividends

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2023

-

60.00

-

60.00

120.00March 31, 2024

-

50.00

-

25.00

--

25.00

-

25.00

50.00

Payoutratio(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%%

290

37.8

2.6

242

45.9

2.1

Fiscal year ending
March 31, 2025

43.2

(Forecast)(Note) The Company conducted a 2-for-1 stock split of shares of common stock on January 1, 2024. The figure indicated forthe second quarter-end of the fiscal year ended March 31, 2024 is the amount before the stock split and the figure
indicated for the year-end of the fiscal year ended March 31, 2024 is the amount after the stock split. Regarding the total
amount of dividends for the full year, annual dividend per share is not presented because simple addition isinappropriate because of the implementation of the stock split.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings perNet sales
Operating profit
Ordinary profit
to owners of parent
share
Six months ending
September 30, 2024
Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

5,900

4.1

180(37.8)

310(32.3)

210(41.9)

43.35

12,000

4.7

520

9.2

800

1.8

560

6.2

115.61* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): Yes
New(Company name:)
Exclusion:
1(Company name: NIPPON TUNGSTEN DO BRASIL SOLUCOES DE CORTE LTDA.
)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2024:
5,155,520 shares
March 31, 2023:
5,155,520 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
311,784 shares
March 31, 2023:
318,718 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
4,842,052 sharesFiscal Year ended March 31, 2023:
4,833,645 shares(Note) The Company conducted a 2-for-1 stock split of shares of common stock on January 1, 2024. Total number of issued shares atthe end of the period (including treasury shares) are calculated, assuming that the stock split was conducted at the beginning of
the previous fiscal year.

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

10,216
11,539(11.5)
1.6

157
609

(74.2)
(2.3)

602
1,117

(46.1)
7.7

459
741

(38.0)
1.7

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Yen

Yen

94.97
153.3894.73
152.95(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

Capital adequacy ratio

Millions of yen%

Net assets per share
Yen

15,096
15,210

10,32668.3
2,129.84
9,886
64.9
2,041.94
As of March 31, 2024:¥
10,316 million
As of March 31, 2023:¥9,876 million(Note) The Company conducted a 2-for-1 stock split of shares of common stock on January 1, 2024. Basic earnings per share, diluted
earnings per share, and net assets per share are calculated, assuming that the stock split was conducted at the beginning of theprevious fiscal year.

2. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Net sales
Six months ending
September 30, 2024
Full year

Ordinary profit

Net income

Basic earnings per share

Millions of yen%

Millions of yen%

Millions of yen%

Yen

5,400

8.7

290

(25.1)

220(29.4)

45.42

10,800

5.7

610

1.3

470

2.2

97.03

(Note1) This summary report is not subject to the audit conducted by certified public accountants or audit firms.
(Note2) Cautionary statement with respect to forward-looking statements and other special items Forecasts regarding future
performance in these materials are based on assumptions judged to be valid and information available to the Company at thetime the materials were created. These materials are not promises by the Company regarding future performance. Actual
results of operations may differ significantly from the forecasts depending on various factors.