Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Six Months Ended September 30, 2022
[Japanese GAAP]
November 14, 2022

Company name:NIPPON CONCRETE INDUSTRIES CO., LTD.
Stock exchange listing: Tokyo
Code number:
5269
URL:
https://www.ncic.co.jp/
Representative:
TSUKAMOTO Hiroshi,
Representative Director and President
Contact:
SUGITA Yoshihiko,
Director and Executive Officer
Phone:
03-3452-1025
Scheduled date of filing quarterly securities report:
November 14, 2022
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session:
Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Six Months Ended September 30, 2022 (April 01, 2022 to September 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Six months ended
September 30, 2022
24,60816.5
40(83.3)
363(31.8)
49(92.3)
21,116(7.2)
242(76.6)
533(61.0)
644(13.7)
September 30, 2021
(Note) Comprehensive income:Six months ended September 30, 2022:¥
384 million [196.6%]
Six months ended September 30, 2021:¥
129 million [(90.4) %]Basic earnings
per share
Six months ended
September 30, 2022
September 30, 2021

Diluted earnings per
share
Yen

Yen

0.91
11.44

-

(2) Consolidated Financial Position
Total assets
Million yen
As ofSeptember 30, 2022
75,414
March 31, 2022
75,003(Reference) Equity: As of September 30, 2022:
As of March 31, 2022:

Net assets
Million yen¥¥

Capital adequacy ratio

38,556
38,67235,882 million
36,054 million

%

47.6
48.1

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-

4.50

-

4.50

9.00

Fiscal year ending March 31, 2023

-

0.00
-

0.00

0.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
Yes(Note) Breakdown of the 2nd quarter dividend for the fiscal year ending March 31, 2023 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Million yen%

Million yen%

51,0007.6
100 (91.9)
Full year(Note) Revision to the financial results forecast announced most recently:

Million yen%

500(67.9)* Notes:(1) Changes in significant subsidiaries during the six months ended September 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:

No

Yes

Million yen

20(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:%(97.7)

Yen

0.37

)
)
No

(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2022:
57,777,432 shares
March 31, 2022:
57,777,432 shares2) Total number of treasury shares at the end of the period:
September 30, 2022:
3,483,945 shares
March 31, 2022:
2,644,746 shares
3) Average number of shares during the period:
Six months ended September 30, 2022:
Six months ended September 30, 2021:

54,495,194 shares
56,334,482 shares* Quarterly financial results are not required to be subjected to quarterly reviews.
* Explanation for appropriate use of financial forecasts and other special notes.
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. Actual results may differ from these forecasts by a variety of reasons.

Table of contents

1. Qualitative Information on Quarterly Financial Results for the Period under Review ····························· 2(1) Explanation of Business Results ························································································ 2(2) Explanation of Financial Position ······················································································ 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ·········· 4
2. Quarterly Consolidated Financial Statements and Primary Notes ···················································· 5(1) Quarterly Consolidated Balance Sheets ··············································································· 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income ····································· 7
Quarterly Consolidated Statements of Income ······································································· 7
Quarterly Consolidated Statements of Comprehensive Income ··················································· 8(3) Quarterly Consolidated Statements of Cash Flows ·································································· 9(4) Notes to Quarterly Consolidated Financial Statements······························································ 11(Notes on Going Concern Assumption) ················································································ 11(Notes in the Case of Significant Changes in the Amount of Shareholders’ Equity) ···························· 11(Changes in Accounting Policies) ····················································································· 11(Additional Information) ································································································· 12(Segment Information, etc.) ····························································································· 12(Matters Related to Revenue Recognition) ············································································ 13(Significant Events after Reporting Period) ··········································································· 13
3. Other ··························································································································· 14
Significant Events Relating to Going Concern Assumption, etc. ······················································ 14

11. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Business Results
In the six months ended September 30, 2022, the economic environment saw movement toward gradual
recovery of the economy in an ongoing shift to the new stage of coexisting with COVID-19, while on the other
hand, the outlook remained uncertain due to the prolonged situation in Ukraine and significant depreciation of
the yen, in addition to a repeated increase in raw material and logistics expenses.
Regarding the business environment in which the Group operates, conditions were currently severe, buffeted
by the rising prices of the raw material for piles, poles, precast products and other concrete secondary products,
and of energy. On the other hand, expectations continued to rise for concrete products that contribute to disasterprevention and mitigation, maintenance of social infrastructure, disaster recovery, the shortening of construction
periods, and labor saving, as well as for the Company-developed environmental technology for carbon capture
and CCUS (carbon dioxide capture, utilization and storage) products, and low-carbon type concrete products.
In these circumstances, the Group has been working under our corporate philosophy: “We contribute to a safe,
secure, and affluent society through concrete,” to realize the basic policy of our Medium-Term Management Plan,
namely, to “Contribute to reinforcement of national resilience and the global environment by boosting
competitiveness and expanding business through promotion of Group management,” and has earnestly
undertaken the various measures set forth in the plan.
Trends by business segment are as follows.
1) Foundation Business
The demand for concrete piles across Japan during the six months ended September 30, 2022 rose byapproximately 17% from a year earlier, while the Group also had a rebound in orders received and shipment
volume. Net sales were 12,748 million yen (up 40.5% year-on-year).
As for profit, segment income was 200 million yen (up 238.1% year-on-year) due to a significant improvementin plant utilization rates, despite time consuming to pass on rising raw material prices to sales prices.
2) Concrete Secondary Product BusinessIn the Pole-related Business, which is part of the Concrete Secondary Product Business, concrete pole
shipments throughout Japan fell roughly 16% year-on-year. In this extremely severe environment, shipments ofpoles for mobile phone base stations declined substantially due to the impact of semiconductor shortages andother factors, and net sales amounted to 6,457 million yen (down 16.5% year-on-year).
In the Civil Engineering Product Business, shipments of precast products rose, and production was brisk for
RC segments intended for the Linear Chuo Shinkansen. Net sales were 5,252 million yen (up 26.4% year-onyear).
As a result, net sales in the Concrete Secondary Product Business amounted to 11,709 million yen (down 1.5%
year-on-year). As for profit, segment income was 525 million yen (down 48.7% year-on-year) on account of adecline in pole shipments in addition to the impact of rising raw material prices.

23) Real Estate and Solar Power Generation Business
The Company reported steady rental income, and generated and sold electricity for net sales that amounted to
149 million yen (down 3.2% year-on-year) and segment income was 94 million yen (down 1.4% year-on-year).
As a result of the above, the Group’s net sales for the six months ended September 30, 2022 were 24,608
million yen (up 16.5% year-on-year), operating profit was 40 million yen (down 83.3% year-on-year), ordinary
profit was 363 million yen (down 31.8% year-on-year), and profit attributable to owners of parent was 49 million
yen (down 92.3% year-on-year).
As for future initiatives, first of all we will strive to further pass on costs to sales prices as a measure to copewith rising raw material prices and reduce costs as well, so as to secure profits.
In the Foundation Business, we will focus on securing orders by incorporating our products into designs andendeavor to enhance plant utilization rates, while improving the profit margin on construction projects. We
recently obtained the JIS mark certification of our unique G (green)-ONA pile, which can reduce CO2 emissions
by approximately 40% over the Company’s existing product, and launched it on the market. We will make steadyefforts to expand sales of these environment-friendly piles.
The Pole-related Business will work to develop sales in view of increased pole installation for 5G and 6G while
keeping an eye on demand for poles geared toward mobile phone base stations, and strive to capture demand forthe replacement of existing poles. We will also make concerted efforts in the Pole Solutions Business, expanding
the scope of orders to include pole construction works.
In the Civil Engineering Product Business, inquiries for revetment wall repair products (soldier pile panels,
named Oyagui-panel) are increasing, and we will proactively secure orders by means of reinforcement of salesorganization, such as inter-group cooperation and expansion of sales areas, in consideration of entering
infrastructure maintenance markets.
In the Environment Business, to meet the target of cutting CO2 emissions by approximately 6,000 tons
(equivalent to around 30% of the Group’s total emissions) in FY2023 set under the Medium-Term Management
Plan, besides the abovementioned G-ONA pile, we are vigorously developing environment-friendly products,
such as poles and civil engineering products utilizing concrete with reduced environmental load and deploying
production facilities. Furthermore, we are also working on pole recycling and urban infrastructure redevelopment
to contribute to the establishment of a recycling-oriented society.
Looking ahead, the Group will continue to play a role in strengthening social infrastructure and contribute tosociety through offering technology and products to reduce environmental loads. In addition, we will utilize theGroup’s synergy effect to keep enhancing our corporate value through sustainable growth.
(2) Explanation of Financial Position
The Group’s financial policies are to reduce total assets so as to improve ROA through measures such as earlycollection of accounts receivable, optimization of product inventories, and efficient capital investment strategies;
and to reduce interest-bearing debts by improving the efficiency of the Group’s funds and assets.
Total assets at the end of the second quarter of the fiscal year under review were 75,414 million yen, up 411
million yen from the end of the previous fiscal year.
3Current assets were 32,516 million yen, up 547 million yen from the end of the previous fiscal year, and noncurrent assets were 42,897 million yen, down 136 million yen from the end of the previous fiscal year.
The increase in current assets was mainly due to an increase in notes and accounts receivable - trade, andcontract assets, and the decrease in non-current assets was mainly due to a decrease in investments and otherassets.
Total liabilities were 36,858 million yen, up 527 million yen from the end of the previous fiscal year.
Current liabilities were 23,760 million yen, up 871 million yen from the end of the previous fiscal year, andnon-current liabilities were 13,097 million yen, down 343 million yen from the end of the previous fiscal year.
The increase in current liabilities was mainly due to an increase in electronically recorded obligations operating, while the decrease in non-current liabilities was mainly due to a decline in long-term borrowings.
Total net assets were 38,556 million yen, down 116 million yen from the end of the previous fiscal year.
The main factor was a decrease due to acquisition of treasury shares.
As a result of the above, the equity ratio came to 47.6%, down from 48.1% at the end of the previous
consolidated fiscal year.
Analysis of Cash Flows
Cash and cash equivalents at the end of the six months ended September 30, 2022 amounted to 6,892 million
yen.
(Cash flows from operating activities)
Funds used in operating activities amounted to 110 million yen (inflow of 1,994 million yen in the same period
last year).
This was chiefly because the factors to decrease funds, including 1,506 million yen recorded as increase innotes and accounts receivable - trade, and contract assets and 836 million yen recorded as increase in inventories,
exceeded the factors to increase funds, such as 918 million yen recorded as depreciation and 1,002 million yen
recorded as increase in trade payables.
(Cash flows from investing activities)
Funds used in investing activities totaled 693 million yen (as compared to 2,702 million yen in the same period
last year).
This was chiefly due to the factors to decrease funds, such as 662 million yen recorded as purchase of property,
plant and equipment.
(Cash flows from financing activities)
Funds used in financing activities totaled 901 million yen (inflow of 1,334 million yen in the same period lastyear).
This was chiefly because the factors to decrease funds, such as 1,187 million yen recorded as repayments oflong-term borrowings, exceeded the factors to increase funds, such as 455 million yen recorded as net increasein short-term borrowings.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
In view of the recent business trends, the Company revised its full-year consolidated financial results forecast
announced on May 13, 2022. For details, please refer to the “Notice regarding Revision of Full-Year Financial Results
Forecast and Year-End Dividend Forecast (Appendix)” released today (November 14, 2022).
4

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Expenditure on contracts in process
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of September 30,2022

8,599,733

6,892,476

11,819,939

12,593,965

1,526,162

2,258,321

6,311,250
476,576
1,898,836
269,218
1,103,198(35,280)
31,969,634

6,867,615
549,965
2,135,644
238,823
986,714(6,581)
32,516,946

17,237,062
9,638,185
26,875,248
444,132

17,237,062
9,286,622
26,523,685
429,307

12,241,800
3,709,276(236,696)
15,714,380
43,033,760
75,003,395

12,752,884
3,341,741(149,940)
15,944,684
42,897,677
75,414,623

(Thousand yen)
As of March 31,2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

6

As of September 30,2022

4,983,962
7,792,309
4,000,000
2,389,054
203,887
752,0422,767,675
22,888,930

5,123,728
8,526,969
4,455,000
2,154,972
247,754640,298
2,611,771
23,760,494

80,0006,378,494
1,193,732
5,789,445
13,441,671
36,330,602

70,0005,825,524
1,199,044
6,003,137
13,097,706
36,858,201

5,111,583
3,894,910
19,181,307(818,520)
27,369,281

5,111,583
3,854,962
18,971,999(1,010,996)
26,927,548

3,547,540

3,857,574

5,312,368(147,543)(27,616)
8,684,749
2,618,762
38,672,793
75,003,395

5,312,368(148,605)(66,844)8,954,492
2,674,380
38,556,422
75,414,623

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)(Thousand yen)
For the six months
ended September 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Loss from suspension of plantoperations assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on step acquisitions
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

For the six months
ended September 30,2022

21,116,333
17,672,321
3,444,012
3,201,370
242,641

24,608,243
21,283,850
3,324,393
3,283,771
40,621

4,546
185,660

2,697
167,019

95,46676,25682,061
367,734

163,580
409,555

26,43815,48434,874
76,796
533,579

30,8207,168
48,28886,276363,899299
164,036433,716
598,052

16,515
16,515

4,803
26,741
31,544
1,100,087
337,237
59,918397,155
702,931
58,393644,538

24,36024,360356,054
208,410
34,452242,863
113,191
63,67149,519

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Thousand yen)
For the six months
ended September 30,2021
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
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

8

For the six months
ended September 30,2022

702,931

113,191(302,125)(220,726)(41,386)

316,172(1,215)(39,338)(9,095)(4,404)(573,333)
129,598

271,214384,406

99,366319,263

30,231

65,142

(3) Quarterly Consolidated Statements of Cash Flows(Thousand yen)
For the six months
ended September 30,2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Share of loss (profit) of entities accounted for using
equity method
Interest and dividend income
Interest expenses
Loss (gain) on step acquisitions
Loss (gain) on sale of non-current assets
Loss on retirement of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in notes and accounts receivable trade and contract assets
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in dvance received and contractdebt
Decrease (increase) in accounts receivable - other
Increase (decrease) in accrued consumption taxes
Increase (decrease) in accounts payable - other
Decrease (increase) in other investments
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities

9

For the six months
ended September 30,2022

1,100,087
960,684
26,741
28,464(11,610)91,866

356,054
918,476
28,464(115,455)(17,238)(15,150)(11,811)(115,860)(81,070)(33,148)(69,080)

4,227(76,394)(95,466)(76,256)(190,207)
26,438(433,716)
(299)
4,803
(164,036)(169,717)
30,820(16,515)
24,360-3,602,671(1,506,184)

228,593(1,050,585)(836,168)
1,002,988(214,320)

60,74674,992(558,416)(136,835)
20,697(417,257)
2,660,051
235,148(28,530)(872,513)
1,994,155

159,909(147,682)(82,676)
460,666(54,162)(144,617)
187,347(33,306)(178,997)
59,092(110,482)

(Thousand yen)
For the six months
ended September 30,2021
Cash flows from investing activities
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Purchase of treasury shares
Proceeds from sales of shares of parent held bysubsidiaries
Dividends paid
Dividends paid to non-controlling interests
Repayments of lease liabilities
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

10

For the six months
ended September 30,2022(333)
276,146(713,805)
300(171,518)(458)(662,709)
16,515(46,934)(2,097,117)

-

3,721
(2,702,607)(250)(693,836)

2,900,000
100,000(1,158,614)(13,500)(59,557)

455,000
400,000(1,187,052)(14,500)(299,364)-

60,200(367,498)(10,916)(52,237)(249,621)(13,555)(50,670)(3,365)(1,714)

1,334,310(901,277)(97,760)(1,660)528,098
8,804,311
9,332,410(1,707,256)
8,599,733
6,892,476

(4) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.
(Notes in the Case of Significant Changes in the Amount of Shareholders’ Equity)
For the six months ended September 30, 2021
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

Dividend
per share(yen)June 4, 2021
Board of Directors’Meeting

Commonshares368,280

6.50

Record date

Effective date

Source ofdividends

March 31, 2021

June 15, 2021

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on June 4,2021 includes dividend of 366 thousand yen for the Board Incentive Plan Trust (BIP) and dividend of 413
thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the six months ended September 30, 2021 but with an effective date after the endof the period
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

November 12, 2021
Board of Directors’Meeting

Commonshares254,963

Dividend
per share(yen)

Record date

Effective date

4.50 September 30, 2021 December 1, 2021

Source ofdividends
Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on
November 12, 2021 includes dividend of 627 thousand yen for the Board Incentive Plan Trust (BIP) anddividend of 496 thousand yen for the Stock Granting Trust (J-ESOP).
3. Significant changes in shareholders’ equity
There is no relevant information.
For the six months ended September 30, 2022
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

Dividend
per share(yen)

May 30, 2022
Board of Directors’Meeting

Commonshares

250,588

4.50

Record date

Effective date

Source ofdividends

March 31, 2022

June 14, 2022

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on May 30,
2022 includes dividend of 627 thousand yen for the Board Incentive Plan Trust (BIP) and dividend of 496
thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the six months ended September 30, 2022 but with an effective date after the endof the period
There is no relevant information.
3. Significant changes in shareholders’ equity
There is no relevant information.
(Changes in Accounting Policies)(Application of the Implementation Guidance on Accounting Standard for Fair Value Measurement)
Effective from the beginning of the first quarter of the fiscal year, the Company has applied the“Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, June1117, 2021; hereinafter “Fair Value Measurement Guidance”), and will prospectively apply the new accounting
policies stipulated by the Fair Value Measurement Guidance in accordance with the transitional treatment
provided in Paragraph 27-2 of the Fair Value Measurement Guidance. There has been no impact on quarterly
consolidated financial statements.
(Additional Information)(A transaction in which the Company’s shares are delivered to its employees, etc. through a trust)(1) Summary of the transaction
As for the Board Incentive Plan Trust (hereinafter referred to as the “BIP Trust”) and the Stock Granting
Trust (J-ESOP) (hereinafter referred to as the “J-ESOP Trust”) introduced in August 2015, the Company
resolved at the Board of Directors’ Meeting held on August 11, 2021 to continue the BIP Trust and the JESOP Trust for a new three-year period (from the fiscal year ended March 31, 2022 to the fiscal year ending
March 31, 2024) and reintroduced them by entering into an agreement to extend their terms, for the purposeof increasing motivation to improve the Company’s medium- to long-term performance and raisingawareness toward the contribution to an increase in shareholder value.
(2) The Company’s shares remaining in the trust
The Company’s shares remaining in the trust are recorded as treasury shares in net assets at their bookvalue (excluding incidental expenses) in the trust. The book value and the number of shares of the treasury
shares at the end of the second quarter of the fiscal year under review are 43,816 thousand yen and 136,995
shares for the BIP Trust, and 35,117 thousand yen and 107,785 shares for the J-ESOP Trust.
(Segment Information, etc.)[Segment Information]
I. For the six months ended September 30, 2021
1. Information on net sales, income by reportable segment(Thousand yen)
Reportable segment

Amounts recordedin the quarterly
Adjustment
consolidated(Note 1)statements ofincome (Note 2)

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

9,071,121

11,890,491

154,719

21,116,333－

21,116,333

4,955

－

－

4,955

(4,955)－

Total

9,076,077

11,890,491

154,719

21,121,288(4,955)

21,116,333

Segment income

59,196

1,026,103

95,473

1,180,773(938,131)

242,641

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers(Notes) 1. The adjustment for segment income mainly includes corporate expenses. Corporate expenses mainly
include general and administrative expenses, not attributed to reportable segments.
2. Segment income is adjusted to the operating profit in the quarterly consolidated statements of income.
2. Information on impairment losses of non-current assets and goodwill by reportable segment(Significant impairment losses pertaining to non-current assets)
In the Foundation Business segment, the Company reduced the book value of assets held for sale to theirrecoverable value. The amount of the said impairment loss reported during the six months ended September 30, 2021
was 26,741 thousand yen.

12II. For the six months ended September 30, 2022
1. Information on net sales and income by reportable segment(Thousand yen)
Reportable segment

Amounts recordedin the quarterly
Adjustment
consolidated(Note 1)statements ofincome (Note 2)

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

12,748,582

11,709,865

149,795

24,608,243－

24,608,243

1,157

－

－

1,157

(1,157)－

Total

12,749,739

11,709,865

149,795

24,609,401(1,157)

24,608.243

Segment income

200,141

525,905

94,140820,187(779,566)

40,621

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers(Notes) 1. The adjustment for segment income mainly includes corporate expenses. Corporate expenses mainly
include general and administrative expenses, not attributed to reportable segments.
2. Segment income is adjusted to the operating profit in the quarterly consolidated statements of income.
2. Information on impairment losses of non-current assets and goodwill by reportable segment
There is no relevant information.
(Matters Related to Revenue Recognition)
Information on the breakdown of revenue arising from contracts with customers
For the six months ended September 30, 2021
Foundation
Business(Thousand yen)Concrete
Secondary ProductBusiness
10,799,651

Product sales
1,151,241
Construction contract
7,901,617
1,085,478
sales
Other sales
8,187
5,361
Revenue from contracts
9,061,046
11,890,491
with customers
Other revenue (Note)－
10,075Net sales to outside
9,071,121
11,890,491
customers(Note) Other revenue includes revenue from real estate leasing.

Real Estate andSolar Power
Generation Business－

11,950,892－

8,987,095

41,20954,75941,20920,992,747

113,510

123,585

154,719

21,116,333

For the six months ended September 30, 2022
Foundation
Business

Total(Thousand yen)Concrete
Secondary ProductBusiness
9,992,932

Product sales
2,794,784
Construction contract
9,944,007
1,710,051
sales
Other sales
5,750
6,881
Revenue from contracts
12,744,541
11,709,865
with customers
Other revenue (Note)－
4,040
Net sales to outside
12,748,582
11,709,865
customers(Note) Other revenue includes revenue from real estate leasing.

(Significant Events after Reporting Period)
There is no relevant information.

13

Real Estate andSolar Power
Generation Business－

Total
12,787,716－

11,654,059

32,19344,82432,19324,486,600

117,602

121,642

149,795

24,608,243

3. Other
Significant Events Relating to Going Concern Assumption, etc.
There is no relevant information.

14

(Appendix)

November 14, 2022
Company name:
Representative:
Contact:

NIPPON CONCRETE INDUSTRIES CO., LTD.
TSUKAMOTO Hiroshi,
Representative Director and President(Code: 5269, TSE PRIME)SUGITA Yoshihiko,
Director and Executive Officer(Phone: +81-3-3452-1025)

Notice regarding Revision of Full-year Financial Results Forecast and Year-end Dividend Forecast
NIPPON CONCRETE INDUSTRIES CO., LTD. (the “Company”) has revised its consolidated financial results
forecast and year-end dividend forecast for the fiscal year ending March 31, 2023 announced on May 13, 2022.
記

1. Revision to the Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023
(April 1, 2022 to March 31, 2023)
ProfitBasic
Operating
Ordinary
attributable
Net salesearnings per
profitprofitto owners of(Million yen)
share(Million yen) (Million yen)
parent(Yen)(Million yen)Previously announced
56,000
1,650
1,900
1,110
19.79
forecasts (A)Revised forecasts (B)51,000
100
500
20
0.37
Difference (B - A)
△5,000△1,550△1,400△1,090
Increase (Decrease) ratio (%)
△8.9
△93.9
△73.7
△98.2
For ref.:Results for previous year
47,376
1,228
1,555
876
15.63
(FY ended March 31, 2022)
Reasons for the revision
Net sales for the full year are expected to fall below the previously announced forecast, despite robust
performance in the Foundation Business. This is mainly attributable to the fact that net sales for the first half were
below the forecast at the beginning of the period as disclosed today and that, in the second half, shipments ofpoles for mobile phone base stations are expected to fall below the initial forecast in the Pole-related Businessand delays in construction works are likely to result in decreased production in the Civil Engineering ProductBusiness. In terms of profit and loss, the impact of rising raw material prices exceeding the initial assumption is
expected to appear more evidently in the second half than the first half. For these reasons, the Company decided
to revise its financial results forecast.

12. Revision to the Year-end Dividend Forecast
Previous forecasts(announced on September 21, 2022)
Revised forecasts
Dividends paid for this year
Dividends paid for previous year
(FY ended March 31, 2022)

2nd quarter-end
Yen
0.00
0.00
4.50

Annual dividends
Year-end
Yen
3.50
0.00
4.50

Total

Yen
3.50
0.00
9.00

Reasons for the revision
The Company recognizes the return of profit to shareholders as one of its key business policies to follow, inparallel with the reinforcement of its management base and enhancement of its corporate value, and has made it arule to ensure steady dividend payments as far as its financial results allow.
The Company regrets to announce that no year-end dividend payment is expected for the fiscal year ending
March 31, 2023. This is due to the fact that profit attributable to owners of parent is forecast to be 20 million yen,
as shown in the above full-year financial results forecast. In addition, we have taken into consideration possible
changes in the business environment.
Taking the situation seriously, the Company has decided to reduce executive compensation from November
2022 to clarify its management responsibility.
We sincerely apologize to our shareholders and will strive to turn around our business performance to resume
dividend payments soon. We would appreciate continued support from our shareholders.
(Note) The forecasts given in this document are based on the information currently available in the Company andcertain assumptions deemed reasonable by the Company, which means that no commitment is made by theCompany as to the fulfillment of such forecasts. Actual results may differ from these forecasts for a varietyof reasons.

2