May 14, 2020

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

Notification Regarding Additional Provision for the Allowance for Doubtful Accounts andRevision of Earnings and Dividend Forecasts

The Company has provided an additional allowance for doubtful accounts in its financial statements for thefirst quarter of the fiscal year ending December 2020 as outlined below. Also, based on recent performancetrends, the Company has revised its consolidated earnings and dividend forecasts for the fiscal year ending
December 2020, which was released on February 14, 2020, as outlined below.
Details
1. Additional provision for the allowance for doubtful accounts
Due to the spread of the new coronavirus (COVID-19), a lockdown has been in place since March mainly
in North America and some other regions. As a result, sales have rapidly and drastically decreased centeringon the food service industry where the Company Group's main customers are operating their business.
Under such circumstances, in the first quarter of the current consolidated accounting period, the Company
Group provided an additional allowance for doubtful accounts of 818 million yen in response to thedeterioration in customers' credit standing.

2. Revision of earnings forecast(1) Revision of the consolidated earnings forecast for the second quarter of the fiscal year ending December
2020 (from January 1, 2020 to June 30, 2020)(Unit: millions of yen, %)Profit
Net income
attributable toper
share (yen)owners of parent

Net sales

OperatingincomeOrdinary
income99,102

1,360

1,380

1,212

84.50

Revised Forecast (B)TBD

TBD

TBD

TBD

TBD

Variance in Amount (B - A)----

Variance in Percentage (%)----

92,181

2,568

2,664

1,878

Previous Forecast (A)(Announced on February 14, 2020)

Previous Year Results(Fiscal year ended December 2019)130.86

(2) Revision of the consolidated earnings forecast for the fiscal year ending December 31, 2020
(from January 1, 2020 to December 31, 2020)(Unit: millions of yen, %)Profit
Net income
attributable topershare (yen)owners of parent

Net sales

Operatingprofit

Ordinary
income205,835

3,052

3,1432,836

197.64

Revised Forecast (B)

TBD

TBD

TBD

TBD

TBD

Variance in Amount (B - A)----

Variance in Percentage (%)----

182,603

4,343

4,543

2,493

Previous Forecast (A)(Announced on February 14, 2020)

Previous Year Results(Fiscal year ended December 2019)173.71(3) Reasons for the revisions of earnings forecasts
With the spread of COVID-19, global governments have imposed restrictions on unnecessary outings andlockdowns involving restrictions on business operations of retail stores and the food service industry. Sincemid-March, while the Company Group's sales to retail stores have remained steady in North America, Europe,and Asia (including Japan), orders from the food service and restaurant industries have significantly decreased,impacting earnings.
Because the impact on future business activities and business performance is currently under scrutiny, it isdifficult to appropriately and reasonably calculate the consolidated earnings forecast at this time. Therefore,
the Company has decided to withdraw the consolidated earnings forecast released on February 14, 2020.
Accordingly, the forecast is yet to be determined at present. The Company will promptly announce its
consolidated earnings forecast once it becomes possible to make a proper and reasonable calculation, while
carefully observing the situation.

3. Revision of dividend forecast(1) Dividend forecast for the fiscal year ending December 2020)
Annual dividend (yen)Previous Forecast (A)(Announced on February 14, 2020)

Revised Forecast (B)Previous Year Results(Fiscal year ended December 2019)

Second-quarter end

Year-end

Total

25.00

35.00

60.00

TBD

TBD

TBD

40.00

55.00

95.00

(2) Reason for the revision of dividend forecast
The Company has a basic policy of maintaining stable dividends, while securing internal reserves for futurebusiness development and for bolstering its financial position. The Company considers the dividend payout
ratio as an important indicator of how appropriate a dividend payment is, and targets a dividend payout ratio
on a consolidated basis of approximately 30% for each fiscal year.
However, as stated above, both the consolidated earnings forecasts for the second quarter and the full yearof the fiscal year ending December 31, 2020 are undetermined, therefore, the forecasts for the second-quarterend and year-end dividends for the same fiscal year are also undetermined. The dividend forecasts will beannounced promptly once it becomes possible to make a proper and reasonable calculation of the consolidated
earnings forecast for each period.