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 August 31, 2023
(Based on Japanese GAAP)
October 4, 2023
Company name:
NACHI-FUJIKOSHI CORP.
Stock exchange listing: Tokyo
Stock code:
6474
URL http://www.nachi-fujikoshi.co.jp/Representative:
Director and President
Tsutomu Kurosawa
Director, Managing Corporate Officer andInquiries:
General Manager of Corporate PlanningTetsu Furusawa
Dept.
Scheduled date to file Quarterly Securities Report:
October 4, 2023
Scheduled date to commence dividend payments:–Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results meeting:
NoTEL +81-(0)3-5568-5210(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended August 31, 2023 (from December 1, 2022 to August 31, 2023)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Nine months ended August 31, 2023
200,170
6.0
10,252 (21.0)
9,649 (29.6)
6,300 (32.1)
Nine months ended August 31, 2022
188,785
10.9
12,98422.3
13,711
34.1
9,276
30.2
Note: Comprehensive income Nine months ended August 31, 2023
Nine months ended August 31, 2022

¥14,129 million [(34.8)%]¥21,670 million [71.9%]

Earnings per share

Diluted earnings per shareYen
269.48389.19Nine months ended August 31, 2023
Nine months ended August 31, 2022

Yen––(2) Consolidated financial position
Total assets
As of August 31, 2023
As of November 30, 2022
Reference: Equity

Net assets

Millions of yen
366,083
357,457

As of August 31, 2023
As of November 30, 2022

Equity ratio

Millions of yen
166,116
156,367

%
43.5
41.7

¥159,361 million¥148,906 million

2. Cash dividends
Annual dividends per share

Year ended November 30, 2022
Year ending November 30, 2023
Year ending November 30, 2023(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen–Yen
0.00

Yen–

Yen
110.00Yen
110.00–0.00–
110.00110.00Note: Revisions to the cash dividends forecast most recently announced: No

1Total3. Forecast of consolidated financial results for the year ending November 30, 2023 (from December 1, 2022 to November 30, 2023)
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
270,000
4.6
16,500(3.1)
15,500(9.4)
11,000 (10.1)
470.84
Note: Revisions to the financial results forecast most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the nine months ended August 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoNo(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:
NoNoNoNo

Changes in accounting policies due to other reasons:
Changes in accounting estimates:
Restatement of prior period financial statements:(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of August 31, 2023

24,919,343 shares As of November 30, 2022

24,919,343 shares

Number of treasury shares at the end of the period
As of August 31, 2023

1,610,677 shares As of November 30, 2022

1,395,964 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended August 31, 2023

23,380,370 shares Nine months ended August 31, 2022

23,836,424 shares* Quarterly financial results reports are exempt from quarterly review conducted by an audit corporation.
* Proper use of financial results forecasts, and other special matters(Caution concerning forward-looking statements)
The financial results forecasts shown in this document are based on data as of the announcement of this document. Actual earnings results may
differ from the forecast figures due to various inherent uncertainties.

2Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of November 30, 2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Income taxes refund receivable
Other
Allowance for doubtful accounts

As of August 31, 2023

36,04260,3657,600
36,02914,641
26,248453
6,169
(188)

34,37957,1007,655
39,345
15,50527,687
1,714
6,493
(202)

187,363

189,679

31,32133,648

Machinery, equipment and vehicles, net
Other, net

71,782
20,404

72,191
20,259Total property, plant and equipment

123,508

126,099

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net

Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts

3,497

3,426

28,357
8,849
5,889
(8)

32,424
8,854
5,608
(9)

Total investments and other assets

43,08846,878170,094

176,404

357,457

366,083

24,96730,09318,1525,000
22,971
3,025
20,862

21,21627,39030,861
10,00020,813437
15,333125,072

126,052

53,70349,565

24

27

476
9,533
12,280532
9,232
14,55676,01873,914

201,090

199,967

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Commercial papers
Current portion of long-term borrowings
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Provision for share awards
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

3

(Millions of yen)
As of November 30, 2022
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity

As of August 31, 2023

16,074
11,408
106,758(5,892)

16,074
11,408110,451(6,707)

128,349

131,227

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans

13,616
7,891(951)

16,36913,048(1,284)

Total accumulated other comprehensive income

20,55628,134

7,460

6,754

156,367

166,116

357,457

366,083

Non-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
August 31, 2022

Nine months ended
August 31, 2023

Net sales
Cost of sales

188,785
144,039

200,170
157,498

Gross profit

44,74642,671

Selling, general and administrative expenses

31,761

32,419Operating profit

12,984

10,252Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity method
Dividend income of group term insurance
Refund of social contributions for prior periods
Other105
540
1,597
11368–320

170
670
273
3380
222
284

Total non-operating income

2,944

2,006

Non-operating expenses
Interest expenses
Sales discounts
Group term insurance expenses
Other654
387
418
756

1,047
377
406
778

Total non-operating expenses

2,218

2,609

13,711

9,649

17278–

14–
26

Total extraordinary income

296

40

Extraordinary losses
Loss on sale of non-current assets

1140
115

3814

Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on liquidation of subsidiaries and associates
Gain on sale of shares of subsidiaries and associates

Loss on retirement of non-current assets
Loss on valuation of investment securities

15754

Profit before income taxes

Total extraordinary losses

13,850

9,636

Income taxes - current
Income taxes for prior periods
Income taxes - deferred

4,357
–300

2,298
32914

Total income taxes

4,658

3,245

Profit9,192

6,391(84)

90

9,276

6,300

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)
Nine months ended
August 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method

Nine months ended
August 31, 2023
9,192

6,391

1,332
11,812(674)

2,796
5,260(332)8

1412,478

7,738

Comprehensive income

21,67014,129Comprehensive income attributable toComprehensive income attributable to owners of parent

21,062

13,877608

252

Total other comprehensive income

Comprehensive income attributable to non-controllinginterests

6