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, 2020
[Japanese GAAP]
November 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:
November 12, 2020
Scheduled date of commencing dividend payments:
December 01, 2020
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, 2020 (April 01, 2020 to September 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%
Six months ended
September 30, 2020
22,753
(1.7)
1,037
1,368
747
September 30, 201923,141
(5.2)
(330)
(61)
(198)
(Note) Comprehensive income:Six months ended September 30, 2020:¥
1,345 million [-%]Six months ended September 30, 2019:¥(482) million [-%]Basic earnings
per share
Six months ended
September 30, 2020
September 30, 2019

Diluted earnings per
share
Yen

Yen

13.30
(3.53)-(2) Consolidated Financial Position
Total assets
Million yen
As ofSeptember 30, 2020
72,726
March 31, 2020
70,214(Reference) Equity: As of September 30, 2020:
As of March 31, 2020:

Net assets

Capital adequacy ratio

Million yen¥¥

38,52037,27936,791 million
35,538 million

%

50.6
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
-

3.50

6.00

Fiscal year ending March 31, 2021
(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, 2021 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

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 to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share%

Million yen%

Million yen%

Yen

Full year
47,0002.6
2,050(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

2,400
Yes

748.9

1,350

-

24.03

* Notes:(1) Changes in significant subsidiaries during the six months ended September 30, 2020(changes in specified subsidiaries resulting in changes in scope of consolidation):
No
New(Company name:
Exclusion:(Company name:(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):
September 30, 2020:
57,777,432 shares
March 31, 2020:
57,777,432 shares2) Total number of treasury shares at the end of the period:
September 30, 2020:
1,614,582 shares
March 31, 2020:
1,628,882 shares
3) Average number of shares during the period:
Six months ended September 30, 2020:
Six months ended September 30, 2019:56,157,207 shares
56,330,698 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) 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(Segment Information etc.) ······························································································ 12(Additional Information) ································································································· 13

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, 2020, the Japanese economy, affected by the global spread of COVID-19
pandemic, recorded a significant deterioration chiefly due to the state of emergency declaration issued in April. The
economic performance for the first quarter dropped even more sharply than during the Lehman Shock crisis, andthe pace of the subsequent recovery trend remains sluggish. With no end of the pandemic in sight and a new surge
of infections in the U.S. and Europe, there is a growing uncertainty over the future economy and consumption
trends.
Regarding the business environment in which the Group operates, the demand for concrete piles across Japan
during the six months ended September 30 dropped from the same period of the previous year, while the demand in
the Kanto region, our main business area, was higher than that a year earlier. The shipments of concrete poles
throughout Japan were slightly at a higher level than those a year earlier, and the demand for poles for mobile
phone base stations also remained robust. Other concrete products, which contribute to the development of newbase stations for 5G mobile phones, reinforcement of national resilience, and prevention and mitigation of disasters,
are also growing in demand.
Under such environment, the Group has been working on measures to materialize our corporate philosophy: We
contribute to a safe, secure, and affluent society through concrete. Our efforts have also been focused on the
improvement of our earnings through a company-wide cost reduction, with the strengthening of the foundation of
our existing business as the top priority in view of the deficit in the previous year.
As a result, a significant recovery in profits was achieved with a slight decline in revenue. Net sales for the six
months ended September 30, 2020 were 22,753 million yen (down 1.7% year-on-year); operating profit was 1,037
million yen (against operating loss of 330 million yen a year earlier); ordinary profit was 1,368 million yen (against
ordinary loss of 61 million yen a year earlier); and profit attributable to owners of parent was 747 million yen(against loss attributable to owners of parent of 198 million yen a year earlier).
The impact of COVID-19 pandemic on our business has been insignificant so far.
Trends by business segment are as follows.
1) Foundation Business
The demand for concrete piles during the six months ended September 30, 2020 was higher in the eastern Japanbut lower in total than a year earlier, due to the significant fall in demand in the western Japan. Although our
shipments and sales have increased in the Kanto region, net sales dropped to 11,839 million yen (down 18.2% yearon-year) as a result of the steep decline in demand in the western Japan.
As for the profit, although loss was recorded a year earlier mainly due to construction works with deficits andremodeling of main plant, the segment achieved an income of 522 million yen in the six months ended September
30, 2020 (against segment loss of 83 million yen a year earlier) as a result of our efforts to secure profits fromconstruction works by such means as the improvement of profitability across the Group’s manufacturing companies
by means of thorough cost reduction in the factories as well as thorough construction progress management.
We will continue to focus on promoting sales activities tailored to regional characteristics and winning orders, andwork on improving profit from construction works. We will also promote the development of technologies(including those relating to materials and peripheral works), enhance our construction management capability,
respond to our customers' requests, and endeavor to improve the customers' satisfaction.
2) Secondary Concrete Product BusinessIn the Pole-related Business among the Secondary Concrete Product Business, while the increase in the demandfor concrete poles across Japan remained small, the Company's shipment of poles for mobile phone base stations
continued to be robust, with the sales significantly higher and the market share on a recovery track, due to the2increasing demand for hybrid poles for power grids and the completion of large-scale pole constructions in sports
facilities. The steady shipment of poles to Myanmar, where a national project for achieving 100% electrification isunderway, also contributed to the net sales to 6,524 million yen (up 60.6% year-on-year).
In terms of the Civil Engineering Product Business, while distribution and construction of civil engineering
products contributing to national resilience (such as precast concrete walls) were satisfactory, and sales of ourgroup companies producing and distributing construction materials increased, net sales dropped to 4,236 million
yen (down 5.0% year-on-year) due to construction delays and subsequent delays in production and shipment of RC
segment.
As a result, net sales for the Secondary Concrete Product Business were 10,760 million yen (up 26.2% year-onyear).
As for the profit, the segment achieved an income of 1,229 million yen (up 118.3% year-on-year), owing to an
improved profitability of the factories thanks to the increase in production of concrete poles and precast concrete
walls as well as an increase in profit from construction works.
Regarding our ongoing efforts in each business, in the Pole-related Business, the shipments of COP (cap on poles),fit-in flange poles which enhance workability of construction, increased. Therefore, we are working to expand thesales of poles for mobile phone base stations with a view to 5G network rollouts. We are also strengthening productsales activities in conjunction with the construction of poles to boost our earnings. As the planned remodeling of
main plant (aiming to enhance the production capacity to meet the increasing demand for joint poles) wascompleted in the second quarter of this fiscal year, a growth both in production and productivity is expected fromthe third quarter onward.
In the Civil Engineering Product Business, we received an increasing number of inquiries about our precast
concrete walls (for faster construction with less manpower) and slope reinforcement works for flood control,
following the increasing demand for greater national resilience as well as preventing and mitigating disasters.
Accordingly, we are working actively to win orders and expand sales through putting our products into designs. In
the Segment Business, the production and shipment are sluggish due to construction delays. However, as we havealready won a tentative order for multiple sections of Linear Chuo Shinkansen, we are currently preparing for thestart of full-scale production. At the same time, we endeavor to win orders for large-scale projects such as
construction of underground regulating reservoirs in urban areas.
3) Real Estate and Solar Power Generation BusinessIn the Real Estate and Solar Power Generation Business, net sales were 153 million yen (up 1.7% year-on-year)
and segment income was 89 million yen (up 8.9% year-on-year).
Our other efforts include CO2 recycling activity using concrete sludge, an industrial waste generated by our plants.
The by-product of the recycling process is also utilized. In recognition of those environmental initiatives, we
received an Encouragement Award from Green & Sustainable Chemistry Network. We will continue to work on
reducing CO2 emissions and expanding sales channels of recycled products through this activity.
Following the business environment and conditions described above, the Group will keep a close eye on thesituation of the COVID-19 pandemic and strive to maintain and increase its sales. Moreover, in the increasingly
severe business environment, we will also implement further cost reductions while rebuilding a system for optimal
production and construction.
(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 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.

3

Total assets at the end of the second quarter of the fiscal year under review were 72,726 million yen, up 2,511
million yen from the end of the previous fiscal year.
Current assets were 29,479 million yen, up 1,815 million yen from the end of the previous fiscal year, and noncurrent assets were 43,246 million yen, up 696 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 non-current
assets was mainly due to an increase in the market value of investment securities.
Total liabilities were 34,206 million yen, up 1,271 million yen from the end of the previous fiscal year.
Current liabilities were 21,942 million yen, up 1,747 million yen from the end of the previous fiscal year, andnon-current liabilities were 12,263 million yen, down 475 million yen from the end of the previous fiscal year.
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 38,520 million yen, up 1,240 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 remained the same at 50.6% as at the end of the previous consolidated
fiscal year.
Analysis of Cash FlowsThe cash and cash and equivalents at the end of the six-month period ended on September 30, 2020
amounted to 7,152 million yen.
(Cash flows from operating activities)
Funds provided by operating activities amounted to 2,860 million yen (against a cash outflow of 813 million
yen a year earlier). This was chiefly because the factors to increase funds, such as 1,307 million yen recorded
as profit before income taxes and 732 million yen recorded as depreciation, exceeded the factor to decrease
funds including 364 million yen recorded as decrease in trade payables.
(Cash flows from investing activities)
Funds used in investment activities totaled 1,349 million yen (against a cash outflow of 839 million yen a
year earlier).
This was chiefly due to factors to decrease funds, such as 1,116 million yen recorded as purchase of property,
plant and equipment and 217 million yen recorded as purchase of shares of subsidiaries.
(Cash flows from financing activities)
Funds provided by financial activities totaled 505 million yen (against a cash outflow of 267 million yen a
year earlier).
This was chiefly because the factors to increase funds, such as 1,449 million yen recorded as net increase in
short-term borrowings, exceeded the factors to decrease funds including 1,121 million yen recorded as net
decrease in long-term borrowings.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
The consolidated financial results forecast for the full fiscal year, published on May 20, 2020, was updated inline with the recent trend of results. For details, please refer to our “Notice of Revision to Full-Year Results
Forecast and Year-End Dividend Forecast (appendix)” released today (November 12, 2020).
The impact of the COVID-19 pandemic on our business results during the second quarter was insignificant, due
to the smooth continuation of plant production, shipments, construction work, sales and other business activities asa result of the group-wide efforts to prevent the spread of infection. If the further spread of the infection has agreater impact on our business activities and we accordingly judge that it is deemed necessary to revise the forecast,
we will promptly 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 September 30,2020

5,121,583
9,461,890

7,152,599
10,346,887

3,055,142

2,172,928

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

5,446,899
2,112,029
1,221,389
1,058,689(32,118)
29,479,306

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

16,423,210
9,254,421
25,677,632
340,062

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

13,903,408
3,577,424(251,625)
17,229,207
43,246,902
72,726,208

(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 September 30,2020

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

4,906,644
7,344,359
3,399,000
2,114,054
393,737
469,461
3,315,091
21,942,349

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

18,0005,071,856
661,200
6,512,762
12,263,819
34,206,169

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

5,111,583
3,825,086
17,917,120(530,921)
26,322,868

4,373,014

4,875,562

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

5,312,368(18,246)
298,938
10,468,623
1,728,548
38,520,039
72,726,208

(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 30,2019
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 (loss)
Extraordinary income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on sales of non-current assets
Restructuring cost of production baseTotal extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent

7

For the six months
ended September 30,2020

23,141,353
20,464,011
2,677,341
3,008,085(330,744)

22,753,944
18,860,501
3,893,443
2,856,221
1,037,221

5,963
168,665

5,918
178,768

106,343

147,543

67,337348,30970,669402,900

23,62955,597
79,226(61,660)

26,15545,896
72,051
1,368,070

1,024
49,00450,028895
895

17,787
11,228138,038
167,054(178,686)
89,506(159,847)(70,341)(108,345)
90,457(198,802)

10,651
50,527
61,1791,307,786
393,739
70,940464,680
843,106
96,040747,065

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Thousand yen)
For the six months
ended September 30,2019Profit (loss)
Other 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 30,2020(108,345)

843,106(307,014)(16,537)(35,838)

482,71028,549(29,122)(14,410)

19,837(373,801)(482,146)

501,975
1,345,081(569,205)

1,246,764

87,05998,317

(3) Quarterly Consolidated Statements of Cash Flows(Thousand yen)
For the six months
ended September 30,2019
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
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 sales of non-current assets
Loss on retirement of non-current assets
Loss (gain) on sales of investment securities
Restructuring cost of production base
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in advances received
Decrease (increase) in accounts receivable - other
Increase (decrease) in accounts payable - other
Decrease (increase) in accounts receivable-liquidity
Decrease (increase) in other investments
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Restructuring cost of production base paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of investment securities
Proceeds from sales of investment securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of shares of subsidiaries
Collection of long-term loans receivable
Net cash provided by (used in) investing activities

9

For the six months
ended September 30,2020(178,686)
770,846
28,464
4,983
23,552

1,307,786
732,219
28,464
131,644(769)

10,48826,674(47,383)(50,090)374(84,358)

9,868(37,317)(106,343)(147,543)(174,628)
23,62910,204
17,787(49,004)
138,038
2,339,819
513,505(3,088,883)(114,542)(57,593)(310,808)
29,77067,542(428,513)(661,738)
184,139(26,505)(254,141)(54,887)(813,134)(184,686)
26,155(895)
10,651
50,527796(257,956)(364,159)
656,611(101,362)
253,413
134,789335,613(229,767)
2,330,669
223,505(28,114)(84,316)
469,486(50,527)
2,860,703

54,636(872,396)
8,000(19,371)(10,793)120(839,805)(280)(1,116,362)
1,150(17,448)(217,060)120(1,349,880)

(Thousand yen)
For the six months
ended September 30,2019
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
Dividends paid
Dividends paid to non-controlling interests
Repayments of lease obligations
Proceeds from sale and leaseback transactions
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 30,2020(115,400)
1,286,340(1,185,078)(13,500)(198,717)(10,376)(30,454)(267,186)

1,449,000
100,000(1,221,794)(13,500)(9,263)(23,359)
224,170
505,253(6,220)14,939(1,926,346)
7,031,948
5,105,602

2,031,016
5,121,583
7,152,599

(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, 2019
1. Dividends paid
amount ofDividend
Types of Total
Resolution
dividends paid
per share
Record date Effective dateshares(Thousand yen)(yen)
May 24, 2019
Common31, June 10, 2019
Board of Directors’
200,644
3.50 March
shares
2019
Meeting

Source ofdividends
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 six months ended September 30, 2019 but with an effective date after the endof the periodamount ofDividend
Types of Totalof
Resolution
dividends paid
per share
Record date Effective date Sourcesharesdividends(Thousand yen)
(yen)
November 14, 2019
Common30, December 2, Retained
Board of Directors’
113,3162.00 September
shares2019
2019
earnings
Meeting(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on
November 14, 2019 includes dividend of 128 thousand yen for the Board Incentive Plan Trust (BIP)
and dividend of 140 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, 2020
1. Dividends paid
As no dividend was paid, there is no relevant information.
2. Dividends with a record date in the six months ended September 30, 2020 but with an effective date after the endof the periodamount ofDividend
Types of Totalof
Resolution
dividends
paid
per share
Record date Effective date Sourcesharesdividends(Thousand yen)
(yen)
November 12, 2020 Common
30, December 1, Retained
Board of Directors’
141,646
2.50 September
shares2020
2020
earnings
Meeting(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on
November 12, 2020 includes dividend of 141 thousand yen for the Board Incentive Plan Trust (BIP)
and dividend of 159 thousand yen for the Stock Granting Trust (J-ESOP).
3. Significant changes in shareholders’ equity
There is no relevant information.

11

(Segment Information etc.)[Segment Information]
I. For the six months ended September 30, 2019
1. Information on net sales and income (loss) by reportable segment
Reportable segment
Foundation
Net sales
Net sales to outside 14,465,794
customers
Inter-segment net
3,877
sales or transfers
Total 14,469,671
Segment income (loss)(83,461)

Real Estateand Solar
Power
Generation

SecondaryConcrete
Product

8,524,226

Total

151,332 23,141,353-

23,141,353

3,877(3,877)-

151,332 23,145,230(3,877)

23,141,353(892,878)(330,744)--

8,524,226
563,035

Adjustment(Note 1)(Thousand yen)Amounts
recorded in the
Quarterly
Consolidated
Statements ofIncome(Note 2)

82,561

562,134(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 six months ended September 30, 2020
1. Information on net sales and income (loss) by reportable segment

Adjustment(Note 1)(Thousand yen)Amounts
recorded in the
Quarterly
Consolidated
Statements ofIncome(Note 2)-22,753,944

7,276(7,276)-

10,760,584

153,966 22,761,221(7,276)22,753,944

1,229,342

89,869 1,842,120(804,898)

1,037,221

Reportable segment
Foundation
Net sales
Net sales to outside 11,839,394
customers
Inter-segment net
7,276
sales or transfers
Total 11,846,670
Segment income (loss)

522,909

SecondaryConcrete
Product

Real Estate andSolar Power
Generation

10,760,584

Total

153,966 22,753,944--(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 ofincome.
2. Information on impairment losses of non-current assets and goodwill by reporting segment
There is no relevant information.

12(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, theCompany resolved at the Board of Directors’ Meeting held on August 9, 2018 to continue the BIP Trustand the J-ESOP Trust for a new three-year period (from August 9, 2018 to August 31, 2021) andreintroduced them by 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 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 thetreasury shares at the end of the second quarter of the fiscal year under review are 23,875 thousand yen
and 56,413 shares for the BIP Trust, and 25,106 thousand yen and 63,651 shares for the J-ESOP Trust.

13

(Appendix)

November 12, 2020

Company name: NIPPON CONCRETE INDUSTRIES CO., LTD.
AMIYA Katsuhiko,Representative:
Representative Director and President(Code: 5269, TSE 1st Section)
IMAI Shoichi,
Contact:
Director and Managing Executive Officer(Phone: 03-3452-1025)

Notice regarding Revision of Full-year Financial Results Forecast and Year-end Dividend Forecast

Based on its recent business performance, 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, 2021 announced on May 20, 2020.

1. Revision to the Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021
(April 01, 2020 to March 31, 2021)
ProfitBasic
Operating
Ordinary
attributable
Net salesearnings per
profitprofitto owners of(Million yen)
share(Million yen) (Million yen)
parent(Yen)(Million yen)Previously announced
48,000
1,400
1,600
1,050
18.67
forecasts (A)Revised forecasts (B)47,000
2,050
2,400
1,350
24.03
Difference (B - A)
(1,000)650
800
300
Increase (Decrease) ratio (%)
(2.1)
46.4
50.0
28.6
For ref.:Results for previous year
45,824
(86)
282
(35)
(0.62)(FY ended March 31, 2020)
Reasons for the revision
In terms of net sales, the sales in our Foundation Business are expected to decrease due chiefly to the demandfor concrete piles across Japan likely to fall below the initial forecast. Our Secondary Concrete ProductBusiness will also see lower-than-forecast net sales as a whole, due mainly to construction delays causing
deferred production and shipments in the RC segment, despite the sales of precast concrete walls expected toincrease.
On the other hand, we expect to achieve more gross profit than initially projected, through our successful
efforts to further reduce product costs in the plants and ensure higher income on construction projects. This
being combined with the steady progress of our company-wide actions to cut the selling, general andadministrative expenses, our overall income is expected to be greater than our initial estimate.

12. Revision to the Year-end Dividend Forecast

Previous forecasts(announced on May 20, 2020)
Revised forecasts
Dividends paid for this year
Dividends paid for previous year
(FY ended March 31, 2020)

2nd quarter-end
Yen
2.50

Annual dividends
Year-end
Yen
2.50
3.50

Total
Yen
5.00
6.00

2.50
2.00

0.00

2.00

Reasons for the revision
The Company considers 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.
As to the distribution of retained earnings, the Company has made it a rule to provide appropriate returns toshareholders by ensuring steady dividend payments as far as its financial results allow. Based on the above
revisions made to the full-year financial results forecast, the distribution of retained earnings for the fiscal year
ending March 31, 2021 is forecast to be 3.50 yen per share (up 1 yen from the previous forecast) as shown
above. With 2.50 yen as of September 30, 2020, the annual dividend is now expected to be 6 yen per share (up 1
yen from the previous forecast).

(Note) The forecasts given in this document are based on the information currently available in the Company
and certain assumptions deemed reasonable by the Company, which means that no commitment is madeby the Company as to the fulfillment of such forecasts. Actual results may differ from these forecasts fora variety of reasons.

2