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 February 29, 2024
(Based on Japanese GAAP)
April 4, 2024
Company name:
NACHI-FUJIKOSHI CORP.
Stock exchange listing: Tokyo
Stock code:
6474
URL https://www.nachi-fujikoshi.co.jp/
Representative:
Director and President
Tsutomu Kurosawa
Inquiries:
General Manager of Corporate Planning Dept. Haruhiko Sakamoto
Scheduled date to file Quarterly Securities Report:
April 4, 2024
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 three months ended February 29, 2024 (from December 1, 2023 to February 29, 2024)(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 February 29, 2024
59,338(9.9)
1,183 (69.8)
754 (77.1)
356 (83.9)
Three months ended February 28, 2023
65,825
9.7
3,912
7.6
3,292
(8.8)
2,216(6.9)
Note: Comprehensive income

Three months ended February 29, 2024
Three months ended February 28, 2023

¥5,143 million [179.4%]¥1,840 million [(57.8)%]

Earnings per share

Diluted earnings per share

Yen
15.29
94.17

Three months ended February 29, 2024
Three months ended February 28, 2023

Yen––(2) Consolidated financial position
Total assets
Millions of yen
374,359
370,324

As of February 29, 2024
As of November 30, 2023
Reference: Equity

Net assets

As of February 29, 2024
As of November 30, 2023

Equity ratio

Millions of yen
172,068
169,520

%
44.1
43.9

¥165,211 million¥162,715 million

2. Cash dividends
Annual dividends per share

Year ended November 30, 2023
Year ending November 30, 2024
Year ending November 30, 2024(Forecast)

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
110.00Yen
110.000.00–

100.00100.00Note: Revisions to the cash dividends forecast most recently announced: No

1Total3. Forecast of consolidated financial results for the year ending November 30, 2024 (from December 1, 2023 to November 30, 2024)
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
Six months ending
123,000(9.1)
4,000 (47.5)
3,500 (50.3)
2,500 (47.1)
107.26
May 31, 2024
Full year
250,000(5.8)
10,000 (15.8)
9,000 (18.4)
6,000(7.3)
257.42
Note: Revisions to the financial results forecast most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the three months ended February 29, 2024
(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:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo
No

(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of February 29, 2024

24,919,343 shares As of November 30, 2023

24,919,343 shares

Number of treasury shares at the end of the period
As of February 29, 2024

1,611,107 shares As of November 30, 2023

1,610,918 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended February 29, 2024

23,308,391 shares Three months ended February 28, 2023

23,532,781 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
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, 2023
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 February 29, 2024

34,61958,805
8,337
37,623
14,79927,707
1,708
6,054(250)

35,78655,747
7,415
39,45914,35427,2701,857
6,514(232)

189,406

188,173

33,45733,266

Machinery, equipment and vehicles, net
Other, net

72,573
21,58971,612
22,560Total property, plant and equipment

127,620

127,439

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

3,672

3,811

34,124
9,922
5,587
(9)

39,524
9,896
5,521
(8)

Total investments and other assets

49,62554,935

180,917

186,185

370,324

374,359

19,09426,021
23,063
10,00022,127709
18,554

17,70023,99236,78010,00020,978571
14,398

119,569

124,42154,57829
561
9,317
16,74749,86829
591
9,085
18,294

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operatingShort-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
Provision for share awards
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

381,234

77,868200,804

202,290

(Millions of yen)
As of November 30, 2023
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity

As of February 29, 2024

16,074
11,408110,593(6,681)

16,074
11,408108,357(6,681)

131,395

129,159

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

17,547
14,408(636)

21,285
15,470(703)

Total accumulated other comprehensive income

31,31936,051

6,804

6,857

169,520

172,068

370,324

374,359

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)Three months ended
February 28, 2023

Three months ended
February 29, 2024

Net sales
Cost of sales

65,825
51,14759,33847,247Gross profit

14,67812,090

Selling, general and administrative expenses

10,766

10,907

Operating profit

3,912

1,183

42
140
2–
103

75
159
–
48
102

290

385

Interest expenses
Sales discounts
Foreign exchange losses
Share of loss of entities accounted for using equity method
Other302
116
117
–373

366
128–
3315

Total non-operating expenses910814

3,2927541–226128

112–0

Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses

Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets

140Profit before income taxes

Total extraordinary losses

3,279781

Income taxes - current
Income taxes - deferred

569
483

253
187

Total income taxes

1,052

441

Profit2,227

340

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

511(15)2,216356

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
February 28, 2023
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

Three months ended
February 29, 2024

2,227

340(302)
(43)
(54)

3,762
1,114
(67)

13(6)

(386)

4,803

Comprehensive income

1,840

5,143

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,824

5,089

1654

Total other comprehensive income

Comprehensive income attributable to non-controllinginterests6