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 Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 5, 2022
NISSHIN GROUP HOLDINGS Company, Limited
Company name:
Stock exchange listing: Tokyo
Stock code:
Representative:

8881
URL https://www.nisshin-hd.co.jp/
Representative Director and President
Yukiyoshi Tsutsumi

Inquiries:

Representative Director and Senior Managing
Hideki Kuroiwa
Director

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

August 8, 2022–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

No
Yes

TEL

03-5360-2016(for analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(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%
Three months ended June 30, 2022
12,5990.6(129)–(189)–(166)–
Three months ended June 30, 2021
12,524(6.6)
222 (40.1)
186 (45.9)
81 (45.8)
Earnings per share

Diluted earnings per share

Yen(3.55)
1.74

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
114,128
114,969

As of June 30, 2022
As of March 31, 2022

Equity ratio

Millions of yen
62,92964,132

Net assets per share%
55.0
55.7

Yen
1,344.10
1,370.11

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
22.00

Yen
22.00

0.00

–

22.00

22.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Full year

Millions of yen
86,000Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen
%
Yen
5.6
5,300
1.6
5,100
1.6
3,600
2.2
76.92

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(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
NoChanges 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 June 30, 2022

46,951,260 shares As of March 31, 2022

46,951,260 shares

Number of treasury shares at the end of the period
As of June 30, 2022

218,232 shares As of March 31, 2022

219,232 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

46,732,695 shares Three months ended June 30, 2021

246,905,628 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed

61,302,820

56,887,115

16,344,272

17,405,308

662,069

342,238

3,533,277
16,446,116

3,484,359
19,353,001

15,284
2,190

17,516
2,190

313,702
1,036,435

423,683
958,103(75,060)(68,051)

99,581,107

98,805,465

Property, plant and equipment
Intangible assets

10,847,204
74,215

10,830,884
68,814

Investments and other assets

4,467,454

4,423,222

construction contracts and other
Electronically recorded monetary claims - operating
Real estate for sale
Costs on real estate business
Costs on construction contracts in progress
Short-term loans receivable
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets

Total non-current assets

15,388,874

15,322,922

114,969,982

114,128,388

Notes payable, accounts payable for construction contracts
and other

4,218,411

4,294,667

Electronically recorded obligations - operating
Short-term borrowings

7,991,480
10,481,426

4,631,001
16,313,402

Current portion of bonds payable
Income taxes payable

88,000700,062

88,00057,375

Provisions
Provision for bonuses

523,157

168,248

203,624
5,905

212,789–

Provision for shareholder benefit program
Other

34,1363,231,845

18,434
4,137,897

Total current liabilities

27,478,049

29,921,815

312,000

312,000

20,975,474

18,888,889

2,460

2,306

20,964

27,208

1,662,796

1,687,927

385,675

358,770

23,359,370

21,277,100

50,837,420

51,198,916

Total assets
Liabilities
Current liabilities

Provision for warranties for completed construction
Provision for loss on construction contracts

Non-current liabilities
Bonds payable
Long-term borrowings
Provisions
Provision for loss on guaranteesProvision for share awards for directors (and otherofficers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities3

(Thousands of yen)
As of March 31, 2022

As of June 30, 2022

Net assets
Shareholders' equity
Share capital

10,111,411

10,111,411

Capital surplus
Retained earnings

425,478
53,380,500

425,478
52,182,484

Treasury shares(112,694)(112,191)

63,804,696

62,607,182

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans

226,354(2,665)208,976(1,999)Total accumulated other comprehensive income

223,688

206,976

104,176

115,312

Total shareholders' equity
Accumulated other comprehensive income

Non-controlling interests
Total net assets
Total liabilities and net assets

464,132,561

62,929,471

114,969,982

114,128,388

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Three months ended

Three months ended

June 30, 2021

June 30, 2022

Net sales
Cost of sales

12,524,922
10,590,979

12,599,53111,108,615

Gross profit

1,933,942

1,490,916

Selling, general and administrative expenses

1,711,327

1,619,964

222,615(129,048)

Interest income
Dividend income

700
8,439

1,403
10,505Gain on sale of securities
Reversal of allowance for doubtful accounts

37,3392,371–
12,010

Reversal of provision for loss on guarantees
Other152
23,946154
15,642

Total non-operating income

Operating profit (loss)
Non-operating income

72,95039,716

Non-operating expenses
Interest expenses

87,461

97,110Commission expenses
Other

1,369
20,1891,108
1,866Total non-operating expenses

109,020

100,085

186,545(189,416)

Gain on sale of non-current assets
Gain on sale of investment securities

2,386––
54,604

Total extraordinary income

2,386

54,604

Profit (loss) before income taxes

188,931(134,812)

Income taxes - current
Income taxes - deferred

18,33092,631

24,703(4,556)

Total income taxes

110,962

20,146

Profit (loss)

77,969(154,959)

Ordinary profit (loss)
Extraordinary income

Profit (loss) attributable to non-controlling interests(3,714)

11,135

Profit (loss) attributable to owners of parent

81,683(166,095)5

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2021

June 30, 2022
77,969(154,959)

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax(19,492)
1,184(17,377)
666

Total other comprehensive income(18,307)(16,711)59,662(171,670)

63,376(182,806)(3,714)

11,135Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6