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 Three Months Ended June 30, 2020
[Japanese GAAP]
August 12, 2020
Company name:NIPPON CONCRETE INDUSTRIES CO., LTD.
Stock exchange listing: Tokyo
Code number:
5269
URL:
https://www.ncic.co.jp/
Representative:
AMIYA Katsuhiko,Representative Director, Chairman and President
Contact:
IMAI Shoichi,
Director and Managing Executive Officer
Phone:
03-3452-1025
Scheduled date of filing quarterly securities report:
August 12, 2020
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results:
No
Schedule of quarterly financial results briefing session:
No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2020 (April 01, 2020 to June 30, 2020)(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%
Three months ended
June 30, 2020
10,922
(0.1)
249
454
173.1
273
195.6
June 30, 201910,928
(9.5)
(55)
166
(76.7)
92(76.8)(Note) Comprehensive income:Three months ended June 30, 2020:¥
1,074 million [-%]Three months ended June 30, 2019:¥(289) million [-%]Basic earnings
per share
Three months ended
June 30, 2020
June 30, 2019

Diluted earnings per
share
Yen

Yen

4.88
1.64

-

(2) Consolidated Financial Position
Total assets
As ofJune 30, 2020
March 31, 2020
(Reference) Equity:

Net assets

Million yen

Million yen

72,80370,214As of June 30, 2020:
As of March 31, 2020:

Capital adequacy ratio¥¥

38,24537,27936,576 million
35,538 million

%

50.2
50.6

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2020

-

2.00

-

0.00

2.00

Fiscal year ending March 31, 2021

2.50

-

2.50

5.00

Fiscal year ending March 31, 2021
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021(April 01, 2020 to March 31, 2021)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings
Net sales
Operating profit
Ordinary profit
to owners of parent
per share%

Million yen

Six months ended
24,5005.9650September 30, 2020
Full year
48,0004.7
1,400(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

850
1,600
No

* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2020(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:%Million yen

%

Yen

-

550

-

9.78

466.0

1,050

-

18.67

No

(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
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: No
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):
June 30, 2020:
57,777,432 shares
March 31, 2020:
57,777,432 shares2) Total number of treasury shares at the end of the period:
June 30, 2020:
1,614,582 shares
March 31, 2020:
1,628,882 shares
3) Average number of shares during the period:
Three months ended June 30, 2020:Three months ended June 30, 2019:56,152,975 shares
56,467,631 shares* Quarterly financial results reports 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) Notes to Quarterly Consolidated Financial Statements ...................................................................................... 9(Notes on going concern assumption)................................................................................................................... 9(Notes in the case of significant changes in the amount of shareholders’ equity) ................................................ 9(Segment Information etc.) ................................................................................................................................. 10(Additional Information) ...................................................................................................................................... 111

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Business Results
In the three months ended June 30, 2020, the Japanese economic activities, affected by the global COVID-19
pandemic, were significantly restricted chiefly by the state of emergency declaration. Consequently, theeconomy deteriorated rapidly into an extremely difficult situation.
Regarding the business environment in which the Group operates, the demand for concrete piles across Japan
during the three months ended June 30 remained unchanged year-on-year, while the demand in the Kanto
region, our main business area, was higher than that a year earlier due in part to the very low level of demandin the previous fiscal year. In addition, shipments of concrete poles were at a higher level than those a year
earlier on a recovery trend across the country.
Under such environment, the Group has been actively working on strengthening its existing business basewith the aim of significantly improving its earnings, as the Group posted a deficit for the previous fiscal year.
In the Foundation Business, we have focused on promoting sales activities tailored to regional characteristics
and winning orders through putting our products into designs, and worked on improving construction revenues.
The production in eastern Japan is stable as shipments in the Kanto Region are back on track. In the Polerelated Business, shipments of COP (cap on pole), fit-in flange poles which enhance workability of
construction, have been steady. Along with it, we are strengthening product sales activities in conjunction withthe construction of poles to expand our earnings. The planned remodeling of the main plant (to strengthen
efficient production of joint poles, whose demand is increasing) is scheduled to be implemented in the second
quarter of this fiscal year. In the Civil Engineering Product Business, we promote the expansion of sales of
products such as precast concrete walls, which can contribute to the national resilience and prevention andmitigation of disasters. In the Segment Business, the production is sluggish due to construction delays; however,
we steadily receive orders and accordingly the recovery in plant utilization rates is expected. In our overseas
business, shipments of concrete poles for a national project in Myanmar, which aims to achieve theelectrification rate of 100%, have been extremely robust.
In our environmental initiative, we strive to expand the application of the products (such as PAdeCS, which
contributes to the reduction of CO2 emissions and removal of harmful substances) made by recycling concretesludge, which is our industrial waste; expand sales of soundproofing material (Porecell); and strengthen ourefforts in recycling of waste concrete poles.
Moreover, we have continued our company-wide cost-cutting efforts since the previous fiscal year, resulting
in a significant improvement in our gross profit margin.
As a result, net sales for the three months ended June 30, 2020 were 10,922 million yen (down 0.1% year-onyear); operating profit was 249 million yen (operating loss of 55 million yen in the same period a year earlier)despite a provision of allowance for doubtful accounts of 129 million yen recorded in selling, general andadministrative expenses; ordinary profit was 454 million yen (up 173.1% year-on-year); and profit attributableto owners of parent was 273 million yen (up 195.6% year-on-year).
Trends by business segment are as follows.

21) Foundation BusinessIn the concrete pile industry, the demand across Japan in the three months ended June 30 remained
unchanged year-on-year; however, while our shipments and sales in the Kanto region increased, our sales in thewestern Japan significantly declined as a reaction against large projects conducted in the previous fiscal year.
As a result, net sales were 5,718 million yen (down 18.0% year-on-year). Segment income was 190 million yen(up 96.4% year-on-year) due to our efforts to improve construction revenues despite a recording of a provisionof allowance for doubtful accounts.
2) Secondary Concrete Product BusinessIn the Pole-related Business among the Secondary Concrete Product Business, shipments of poles used formobile phone base stations in Japan and shipments in Myanmar were steady. As a result, net sales were 3,174
million yen (up 64.1% year-on-year). In terms of the Civil Engineering Product Business, despite construction
delays in the RC segment, sales of civil engineering products (such as precast concrete walls) are in line with
our expectations and sales of our group companies related to construction materials and civil engineering works
have increased. Accordingly, net sales were 1,949 million yen (up 0.3% year-on-year). As a result, net sales for
the Secondary Concrete Product Business were 5,124 million yen (up 32.1% year-on-year) and segment
income was 459 million yen (up 70.4% year-on-year).
3) Real Estate and Solar Power Generation BusinessIn the Real Estate and Solar Power Generation Business, net sales were 80 million yen (up 1.2% year-onyear) and segment income was 48 million yen (up 8.9% year-on-year).
The Group will keep a close eye on the situation of the COVID-19 pandemic and strive to maintain andincrease its sales. In the increasingly severe business environment, we will also implement further cost
reductions while rebuilding an optimal production and construction system.
(Note) Net sales and other figures do not include consumption and other taxes.
(2) Explanation of Financial Position
The Group’s financial policies are to reduce total assets so as to improve ROA through measures such as
early collection 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 first quarter of the fiscal year under review were 72,803 million yen, up 2,589
million yen from the end of the previous fiscal year.
Current assets were 29,084 million yen, up 1,420 million yen from the end of the previous fiscal year, andnon-current assets were 43,719 million yen, up 1,169 million yen from the end of the previous fiscal year.
The increase in current assets was mainly due to an increase in cash and deposits, and the increase in noncurrent assets was mainly due to an increase in the market value of investment securities.
Total liabilities were 34,557 million yen, up 1,623 million yen from the end of the previous fiscal year.
Current liabilities were 21,997 million yen, up 1,802 million yen from the end of the previous fiscal year, andnon-current liabilities were 12,560 million yen, down 178 million yen from the end of the previous fiscal year.
3

The increase in current liabilities was mainly due to an increase in short-term borrowings, and the decrease in
non-current liabilities was mainly due to a decrease in long-term borrowings.
Total net assets were 38,245 million yen, up 965 million yen from the end of the previous fiscal year.
It was mainly due to an increase in the valuation difference on available-for-sale securities.
As a result of the above, the equity ratio was 50.2%, down from 50.6% at the end of the previous
consolidated fiscal year.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
There is no change in our consolidated financial results forecast for the fiscal year ended March 31, 2021
from the forecast announced on May 20, 2020.
The impact of the COVID-19 pandemic on our business results during the first quarter was insignificant due
to the smooth continuation of plant production, shipments, construction work, sales and other businessactivities as a result of the group-wide efforts to prevent the spread of infection (such as infection prevention
measures taken by individuals, thorough social-distancing, introduction of staggered working hours and workfrom home, and utilization of video conference). If the further spread of the infection has a greater impact on
our business activities and we accordingly judge that it is deemed necessary to revise the forecast, we willpromptly announce the revised forecast.

4

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
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 June 30,2020

5,121,583
9,461,890

6,272,403
9,474,017

3,055,142

2,892,292

4,895,644
2,503,513
1,118,301
1,511,443(3,800)27,663,720

5,214,106
2,702,891
1,240,531
1,318,945(31,158)
29,084,030

16,423,210
9,417,075
25,840,286
328,811

16,423,210
9,328,015
25,751,226
314,259

13,076,308
3,453,493(148,298)
16,381,503
42,550,600
70,214,321

14,196,916
3,701,269(244,014)
17,654,171
43,719,658
72,803,688

(Thousand yen)
As of March 31,2020
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 June 30,2020

5,386,533
7,228,523
1,950,000
2,392,156
88,507499,5112,649,497
20,194,729

5,168,761
7,305,111
3,461,581
2,140,600
107,543
461,398
3,352,033
21,997,029

31,5005,915,548
651,332
6,141,289
12,739,669
32,934,399

31,5005,404,806
646,9426,477,575
12,560,823
34,557,852

5,111,583
3,826,864
17,170,058(536,786)
25,571,720

5,111,583
3,826,796
17,443,815(530,921)
25,851,274

4,373,014

5,144,259

5,312,368(46,795)
328,060
9,966,648
1,741,553
37,279,921
70,214,321

5,312,368(44,773)
313,499
10,725,354
1,669,207
38,245,836
72,803,688

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Thousand yen)
For the three months
ended June 30,2019
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
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
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
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 three months
ended June 30,2020

10,928,946
9,450,998
1,477,947
1,533,734(55,786)

10,922,981
9,155,942
1,767,038
1,517,361
249,676

4,065
162,997

3,888
172,141

57,721

52,86037,564
262,348

21,476250,367

11,47628,56240,039166,523

13,02032,25145,272454,771

10,062
10,062
156,460
58,558(39,524)
19,033
137,426
44,826
92,6002,121
2,121452,650
128,076
8,672
136,748
315,90242,141
273,760

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Thousand yen)
For the three months
ended June 30,2019ProfitOther 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 three months
ended June 30,2020

137,426

315,902(381,901)(11,970)(17,919)753,430
2,022(14,561)(15,005)

17,814(426,798)(289,371)

758,706
1,074,608(331,841)

1,029,813

42,47044,794

(3) 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 three months ended June 30, 2019
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividend paid
(Thousand yen)

May 24, 2019
Board of Directors’Meeting

Commonshares200,644

Dividend
per share
(yen)
3.50

Record date

Effective date

Source ofdividends

March 31, 2019

June 10, 2019

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on May
24, 2019 includes dividend of 256 thousand yen for the Board Incentive Plan Trust (BIP) and dividendof 307 thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the three months ended June 30, 2019 but with an effective date after theend of the period
There is no relevant information.

For the three months ended June 30, 2020
1. Dividends paid
As no dividends are paid, there is no relevant information.
2 Dividends with a record date in the three months ended June 30, 2020 but with an effective date after theend of the period
There is no relevant information.

9

(Segment Information etc.)[Segment Information]
I. For the three months ended June 30, 2019
1. Information on net sales and income (loss) by reportable segment(Thousand yen)
Adjustment(Note 1)

Amounts recorded in
the Quarterly
Consolidated
Statements of Income(Note 2)

10,928,946－

10,928,946

－

3,824

(3,824)－

3,878,560

79,202

10,932,771(3,824)

10,928,946

269,856

44,145411,020(466,806)(55,786)

Reportable Segment
SecondaryConcrete Product

Real Estate andSolar Power
Generation

6,971,183

3,878,560

79,202

3,824－

6,975,007
97,017

Foundation

Total

Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment income (loss)(Notes) 1. The adjustment for segment income or loss mainly includes corporate expenses. Corporate expenses
mainly include general and administrative expenses, not attributed to reportable segments.
2. Segment income or loss is adjusted to the operating loss in the quarterly consolidated statements ofincome.
2. Information on impairment losses of non-current assets and goodwill by reporting segment
There is no relevant information.
II. For the three months ended June 30, 2020
1. Information on net sales and income (loss) by reportable segment(Thousand yen)
Adjustment(Note 1)

Amounts recorded in
the Quarterly
Consolidated
Statements of Income(Note 2)

10,922,981－

10,922,981

－

3,356

(3,356)－

5,124,261

80,161

10,926,337(3,356)

10,922,981

459,809

48,074

698,437(448,760)

249,676

Reportable Segment
SecondaryConcrete Product

Real Estate andSolar Power
Generation

5,718,559

5,124,261

80,161

3,356－

5,721,915
190,553

Foundation

Total

Net sales
Net sales to outside
customers
Inter-segment net sales ortransfers
Total
Segment income (loss)(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 income in the quarterly consolidated statements of income.
2. Information on impairment losses of non-current assets and goodwill by reporting segment
There is no relevant information.

10(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 9, 2018 to continue the BIP Trust and the JESOP Trust for a new three-year period (from August 9, 2018 to August 31, 2021) and reintroduced themby entering into an agreement to extend their terms, for the purpose of increasing motivation to improve
the Company’s medium to long term performance and raising awareness towards the contribution to anincrease 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 thetreasury shares at the end of the first quarter of the fiscal year under review are 23,875 thousand yen and56,413 shares for the BIP Trust, and 25,106 thousand yen and 63,651 shares for the J-ESOP Trust.

11