August 12, 2022

To whom it may concern:
Company name: Nishimoto Co., Ltd.
Representative: Yoshiro Susaki, Chairman, President & CEO(Code No.: 9260 Prime Market of the Tokyo Stock Exchange)
Contact: Yuji Sasa, Director, Managing Executive Officer, CFO(Phone: 03-6870-2015)

Notice Regarding Revision of Consolidated Earnings Forecasts for
the Fiscal Year Ending December 2022, and Revision of Dividend of Surplus (Interim Dividend)
and Year-End Dividend Forecasts

Nishimoto Co., Ltd. ("the Company") hereby notifies the revision of the consolidated earnings forecasts for the fiscal year
ending December 2022 (January 1, 2022 to December 31, 2022), which was announced on May 13, 2022, as outlined
below.
At the Board of Directors meeting held on August 12, 2022, the Company resolved to pay a dividend of surplus (interimdividend) with June 30, 2022 as the record date. Together with this, the Company also revises its year-end dividend
forecast for the fiscal year ending December 2022, which was announced on May 13, as outlined below.

1.

Revision of consolidated earnings forecasts for the fiscal year ending December 2022

(1) Revision of consolidated earnings forecasts for the fiscal year ending December 2022 (from January 1, 2022 to
December 31, 2022)(Unit: millions of yen, %)Profit
Net income
attributable toper shareowners of(yen)parentNet sales

Operatingincome

Ordinary
income254,000

9,000

9,000

6,000

418.03

Revised Forecast (B)265,000

10,50010,5007,000

487.70

Variance in Amount(B - A)

11,000

1,500

1,500

1,000

4.3

16.7

16.7

16.7

213,248

7,301

7,204

5,028

Previous Forecasts (A)(Announced on May 13, 2022)

Variance in Percentage (%)(Reference)Previous Year Results

350.34(Fiscal year ended December 2021)(2) Reason for the revision
As for the consolidated earnings forecasts for the fiscal year ending December 2022, net sales are expected torecover steadily. Besides, we have considered the price competition phase as the supply-demand balance moves
toward normalization, and the impact of higher purchase costs, ocean freight, and logistics costs on profit margins.
Even though the business environment in this consolidated cumulative second quarter was as assumed as
described above, we could maintain profit levels that absorbed cost increases to a certain extent, especially in ourmainstay North American region, and the effect of currency translation resulting from the weaker yen boosted ourincome.

There is a strong sense of uncertainty about the business environment toward the end of the current fiscal year,
including further increases in expenses and the impact of prolonged inflation on consumer trends. However, wehave decided to revise our consolidated earnings forecast, considering the first half results and the positive effecton income resulting from the continued trend of yen's depreciation.
2.

Revision of the dividend of surplus (interim dividend) and year-end dividend forecast(1) Details of the dividend of surplus (interim dividend)

Record date
Dividend per share
Total amount ofdividend
Effective date
Source of dividend

Results for the previous
term

Determined amount

Most recent dividend
forecast(Announced on May 13,2022)(Interim dividend for thefiscal year ended December2021)

June 30, 2022
70.00 yenSame as on the left
65.00 yen

June 30, 2021
35.00 yen

1,004 million yen-502 million yen

September 16, 2022Retained earnings-

September 16, 2021
Retained earnings(2) Details of the revision of year-end dividend forecast
Annual dividends (yen)Previous Forecast(Announced on May 13, 2022)

Revised Forecast
Current Year Results

Secondquarter-end

Year-end

Total

65.00

60.00

125.00-75.00

145.00

70.00

--

35.00

70.00

105.00(Reference)Previous Year Results(Fiscal year ended December 2021)(3) Reason for the revision
The Company has a basic policy of maintaining stable dividends, while securing internal reserves for future businessdevelopment and for bolstering its financial position. The Company considers the dividend payout ratio as animportant indicator of how appropriate a dividend payment is, and targets to maintain an annual dividend payout
ratio of approximately 30% on a consolidated basis.
Regarding dividends for the fiscal year ending December 2022, by comprehensively taking into account the businessenvironment surrounding the Company Group, its future business outlook and other factors, the Company will pay
an interim dividend of 70 yen per share at the end of this second quarter as stated above, and has revised its forecast
for the year-end dividend per share to 75 yen per share. As a result, the annual dividend for the current fiscal year
will be 145 yen per share.

Note: The forecast above is prepared based on the information currently available to us as well as certain
assumptions that we consider are reasonable. Actual results may significantly deviate from the forecast due
to various factors.