Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results For the Six Months Ended September 30, 2023
(Under Japanese GAAP)
November 14, 2023
Company Name:
NPR-RIKEN CORPORATION (for Nippon Piston Ring Co., Ltd.)
Listing:
Tokyo Stock Exchange
6209
Securities Code:
URL:
https://www.npr-riken.co.jp
Representative:
Yasunori Maekawa, Chairman and CEO
Inquiries:
Takeshi Shida, General Manager, Accounting and Finance Department, Nippon Piston Ring Co., Ltd.
+81-48-856-5011
Telephone:
Scheduled date to file quarterly securities report:
December 6, 2023
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated Financial Results For the Six Months Ended September 30, 2023 (from April 1, 2023 to September 30, 2023)(Percentages indicate year-on-year changes.)(1) Consolidated Operating Results
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Six months ended
September 30, 2023
September 30, 2022

Millions of yen％

Millions of yen％

Millions of yen％

Millions of yen％

30,001
27,788

8.0
9.0

1,863
955

95.0
(44.8)

2,030
1,384

46.7
(25.5)

1,540
573

168.4
(55.1)(Note) Comprehensive income:Six months ended September 30, 2023: 4,952 million yen (39.0%)
Six months ended September 30, 2022: 3,562 million yen (8.9 %)Basic earnings per share
Six months ended
September 30, 2023
September 30, 2022

Diluted earnings per shareYen

Yen

197.4374.05

196.3373.64(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

As of September 30, 2023
As of March 31, 2023
(Reference) Shareholders' equity

Equity-to-asset ratio

72,24042,54568,843
38,117
As of September 30, 2023: 40,302 million yen

Net assets per share％

Millions of yen

Yen

55.8
5,161.03
52.4
4,632.77
As of March 31, 2023: 36,091 million yen

2. Cash Dividends
1st quarter-end

Annual dividends per share
2nd quarter-end 3rd quarter-end Fiscal year-end

Yen

Yen

Yen

Fiscal year ended March 31, 2023
20.00
Fiscal year ending March 31, 2024
35.00
(Note 1) Revisions to the forecast of cash dividends most recently announced: No(Note 2) The year-end dividend of NPR-RIKEN CORPORATION will be announced once it is decided.

1Total

Yen

Yen

50.00

70.00

* Notes(1) Changes in significant subsidiaries during this period: None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None4) Restatement: None
(4) Number of issued shares (common shares)
1) Total number of issued shares at theAs of September 30,
7,808,957 As of March 31, 2023
2023
end of the period (including treasury shares)
2) Number of treasury shares at the end of the period As of September 30,- As of March 31, 2023
20233) Average number of shares outstanding during
the period (cumulative from the beginning ofthis fiscal year)

Six months ended
September 30, 2023

7,800,321

Six months ended
September 30, 2022

8,374,157
583,728
7,747,914* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
The financial forecast and other descriptions of the future presented in this document are based on currently available information andassumptions which are deemed reasonable at present. Please note that a variety of factors could cause actual results to differ from the forecasts.

2Quarterly consolidated financial statements
Consolidated balance sheets（Millions of yen）
As of March 31, 2023

As of September 30, 2023

AssetsCurrent assets
Cash and deposits

5,606

5,209

Notes and accounts receivable - trade, and contract assets

11,71912,199Inventories

13,304

14,748

Other

2,048

1,940(24)(26)

32,65434,071

Buildings and structures, net

7,351

7,385Machinery, equipment and vehicles, net

13,715

13,598

Land

5,784

5,833

723

1,011

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Construction in Progress
Other, net

807

870

28,382

28,699930

932

Investment securities

5,198

6,770

Retirement benefit asset

1,408

1,512

Deferred tax assets

95

111

Other

175

152

Total Property, plant and equipment
Intangible assets
Investments and other assets

Allowance for doubtful accounts

(2)

(7)

Total investments and other assets

6,875

8,538

36,18838,16968,84372,240Total non-current assets
Total assets3

（Millions of yen）
As of March 31, 2023

As of September 30, 2023

Liabilities
Current liabilities
Notes and accounts payable - trade

3,725

3,479

Electronically recorded obligations - operating

4,326

3,965

Short-term borrowings

5,940

5,833

Current portion of long-term borrowings

2,720

2,614

Lease liabilities

142

140

Income taxes payable

380

412

Notes payable - facilities

116

249

Electronically recorded obligations - non-operating

1,034

925

Other4,029

4,762

Total current liabilities22,416

22,383

3,939

2,645

Non-current liabilities
Long-term borrowings
Lease liabilities

364

322

Deferred tax liabilities

1,034

1,465

Retirement benefit liability

2,819

2,836

151

43

Other
Total non-current liabilities

8,309

7,312

30,72529,695

Share capital

9,839

9,839

Capital surplus

6,080

6,080

Retained earnings

16,265

16,520Total liabilities
Net assets
Shareholders' equity

Treasury shares
Total shareholders' equity(767)－31,41732,440

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

2,743

3,966

Foreign currency translation adjustment

3,060

4,978

Remeasurements of defined benefit plans(1,130)(1,082)

Total accumulated other comprehensive income

4,673

7,861

Share acquisition rights

67

67

Non-controlling interests

1,958

2,175

Total net assets

38,11742,54568,84372,240Total 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）
Six months ended
September 30,2022

Six months ended
September 30,2023

Net Sales

27,78830,001

Cost of sales

22,01323,086Gross profit

5,775

6,915

Selling, general and administrative expenses

4,820

5,052

955

1,863

Interest income

534

Dividend income

7989

Foreign exchange gains

230

149

Other

210

292

Total non-operating income

526

565

47

69

Management integration expenses

－262

Other

49

65

Total non-operating expenses

97

398

1,384

2,030

Gain on sale of investment securities－

247

Total extraordinary income－247

Impairment losses

2315

Total extraordinary losses

2315

1,361

2,262

Income taxes - current

597

602

Income taxes for prior periods－164

Income taxes - deferred139(117)

Total income taxes

737

649

Profit623

1,612

Profit attributable to non-controlling interests

49

72

Profit attributable to owners of parent

573

1,540

Operating profit
Non-operating income

Non-operating expenses
Interest expenses

Ordinary profit
Extraordinary income

Extraordinary losses

Profit before income taxes

5Consolidated statements of comprehensive income (cumulative)（Millions of yen）
Six months ended
September 30,2023

Six months ended
September 30,2022
Profit6231,612

Valuation difference on available-for-sale securities

(564)

1,222

Foreign currency translation adjustment

3,446

2,069

57

48

2,938

3,340

3,562

4,952

3,311

4,728

251

224

Other comprehensive income

Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

6Consolidated statements of cash flows（Millions of yen）
Six months ended
September 30,2023

Six months ended
September 30,2022
Cash flows from operating activities
Profit before income taxes

1,361

2,262

Depreciation

2,184

2,122

23

15

Impairment losses
Increase (decrease) allowance for doubtful accounts(4)

6

Increase (decrease) in retirement benefit liability

(17)

388

Interest and dividend income

(84)

(123)

Interest expenses

47

69(230)(149)－(247)

Decrease (increase) in trade receivables

1,457

206

Decrease (increase) in inventories

(524)

(583)

Increase (decrease) in trade payables

537(1,099)Other, net(809)206

Subtotal

3,940

3,075

Foreign exchange losses (gains)
Loss (gain) on sale of investment securities

Interest and dividends received

84123

Interest paid

(49)

(60)

Income taxes refund (paid)

(508)

(548)

Net cash provided by (used in ) operating activities

3,466

2,589

(1,603)(1,352)

(15)

(75)

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Other, net
Net cash provided by (used in ) investing activities

49

310

(1,569)(1,117)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate exchange on cash and cash equivalents

160

(200)

(1,809)(1,399)

(0)

(333)

(398)

(398)

－(10)

(51)

142

(2,099)(2,200)

1,023

330

821

(397)

Cash and cash equivalents at beginning of period

5,989

5,606

Cash and cash equivalents at end of period

6,811

5,209

Net increase (decrease) in cash and cash equivalents

7