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 Nine Months Ended December 31, 2020
[Japanese GAAP]
February 12, 2021
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:
February 12, 2021
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 Nine Months Ended December 31, 2020 (April 01, 2020 to December 31, 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%
Nine months ended
35,624
4.6
2,056
2,467
1,418
December 31, 2020
December 31, 2019
34,067
(7.4)
(305)
39
(97.8)(191)(Note) Comprehensive income:Nine months ended December 31, 2020:¥
1,925 million [-%]Nine months ended December 31, 2019:¥(335) million [-%]Basic earnings
per share
Nine months ended
December 31, 2020
December 31, 2019

Diluted earnings per
share
Yen

Yen

25.26
(3.41)-(2) Consolidated Financial Position
Total assets
Million yen
As ofDecember 31, 2020
75,53970,214
March 31, 2020
(Reference) Equity: As of December 31, 2020:
As of March 31, 2020:

Net assets

Capital adequacy ratio

Million yen¥¥

38,95237,27937,186 million
35,538 million

%

49.2
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

6.50

9.00

Year-end

Fiscal year ending March 31, 2021
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
Yes(Note) Breakdown of the 3rd quarter dividend for the fiscal year ending March 31, 2021 :Commemorative dividend- yenSpecial dividend
- yen

Total

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

47,5003.7
2,500
Full year(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

2,850
Yes

908.1

1,600

-

28.49

* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 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):December 31, 2020:
57,777,432 shares
March 31, 2020:
57,777,432 shares2) Total number of treasury shares at the end of the period:
December 31, 2020:
1,616,863 shares
March 31, 2020:
1,628,882 shares
3) Average number of shares during the period:
Nine months ended December 31, 2020:
Nine months ended December 31, 2019:56,156,847 shares
56,276,053 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 ······················································································ 4(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) ································································································· 11(Significant events after reporting period) ··········································································· 12

11. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Business Results
In the nine months ended December 31, 2020, the Japanese economy, affected by the global spread of COVID-19,
initially recorded a significant drop in performance even more sharply than during the Lehman Shock crisis, and thepace of the subsequent recovery trend remains sluggish. With no end of the pandemic in sight and a new surge of
infections seen in Japan and across the globe, there is a growing uncertainty over the future economy andconsumption trends.
Regarding the business environment in which the Group operates, the demand for concrete piles across Japan
during the nine months ended December 31, 2020 dropped from the same period of the previous year, while thedemand in the Kanto region, our main business area, was slightly higher than that a year earlier. The shipments ofconcrete poles throughout Japan remained flat compared to a year earlier, while the demand for poles for mobile
phone base stations was robust. Furthermore, concrete products that contribute to the development of new basestations for 5G mobile phones, as well as precast concrete walls and other concrete products that help prevent andmitigate disasters and reinforce national resilience, are also growing in demand. Our environmental technologies
and recycled products are also attracting increasing attention.
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 increase in revenue. Net sales for the ninemonths ended December 31, 2020 were 35,624 million yen (up 4.6% year-on-year); operating profit was 2,056
million yen (against operating loss of 305 million yen a year earlier); ordinary profit was 2,467 million yen (up6,091.1% year-on-year); and profit attributable to owners of parent was 1,418 million yen (against loss attributableto owners of parent of 191 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 nine months ended December 31, 2020 was slightly higher in easternJapan but lower in total than a year earlier, due to the significant fall in demand in western Japan. Although our
shipments and sales have increased in the Kanto region, net sales dropped to 17,718 million yen (down 13.3% yearon-year) as a result of the steep decline in demand in 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 825 million yen in the nine months ended December
31, 2020 (against segment loss of 38 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 our factories by means of thoroughcost reduction as well as thorough construction progress management.
We will continue to focus on promoting sales activities tailored to regional characteristics and winning orders
through putting our products into designs, and work on improving profit from construction works. We will also
promote the development of technologies (including those relating to materials and peripheral works), enhance ourconstruction management capability, and endeavor to improve the customers’ satisfaction.
2) Secondary Concrete Product BusinessIn the Pole-related Business among the Secondary Concrete Product Business, while the demand for concrete2poles across Japan remained flat, the Company's shipment of poles for mobile phone base stations continued to berobust, with the sales significantly higher and the market share on a recovery track, due mainly to the completion oflarge-scale ball stop net constructions for sports facilities. The steady shipment of poles to Myanmar, where anational project for achieving 100% electrification is underway, also contributed to the net sales of 9,665 million
yen (up 42.7% year-on-year).
In terms of the Civil Engineering Product Business, despite delays in production and shipment in some part of the
RC segment due to delays in construction, net sales were 8,013 million yen (up 20.9% year-on-year), driven byrobust distribution and construction of civil engineering products contributing to national resilience (such as precast
concrete walls) mainly for large-scale projects, and steady growth in sales of our group companies undertaking
slope reinforcement works.
As a result, net sales for the Secondary Concrete Product Business were 17,679 million yen (up 31.9% year-onyear).
As for the profit, the segment achieved an income of 2,374 million yen (up 160.3% 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 net sales.
Regarding our ongoing efforts in each business, in the Pole-related Business, there has been a steady number ofinquiries about COP (cap on poles), fit-in flange poles which enhance workability of construction. Therefore, we
are working to expand the sales of poles for mobile phone base stations with a view to 5G network rollouts. We arealso strengthening our efforts to win orders including those for pole maintenance and the construction of poles toboost our earnings. In the Civil Engineering Product Business, we are receiving a great deal of inquiries about ourprecast concrete walls (for faster construction and 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 with an enhanced sales structure and expand sales throughputting our products into designs. In the Segment Business, the production and shipment have been lower than
expected due to construction delays. However, as we have already won a tentative order for multiple sections ofLinear Chuo Shinkansen, we are currently preparing for the start 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 226 million yen (up 0.5% year-on-year)
and segment income was 132 million yen (up 8.8% year-on-year).
Following the business environment and conditions described above, the Group will actively work to win orders
and maintain and increase sales in each business. Meanwhile, we will pay close attention to the potential decline indemand for piles and other developments due to the review of future private sector investment in construction
projects affected by the COVID-19 pandemic and rebuild a system for optimum production and construction in
response to changes in the business environment, while focusing on further boosting earnings through continued
cost reduction.
With respect to the Myanmar business, we will continue to closely watch the situation and take appropriate action,
putting our employees’ safety first.
As we have previously announced, we will strengthen our bases for the foundation business with a businessalliance with Tenox Corporation. And also we will strive to enhance our competitiveness in each of our foundation,pole, and civil engineering business operations across eastern Japan including Hokkaido by steadily carrying out
the process of making Tohoku Pole Co., Ltd. our subsidiary. Through these efforts, we will endeavor to achievesustainable growth. Furthermore, we will push forward our initiatives to commercialize our unique environmental
technologies, thereby contributing to reduction of CO2 emissions and establishment of a recycling-oriented society.
(Note) Net sales and other figures do not include consumption and other taxes.

3(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 third quarter of the fiscal year under review were 75,539 million yen, up 5,325
million yen from the end of the previous fiscal year.
Current assets were 32,668 million yen, up 5,004 million yen from the end of the previous fiscal year, and noncurrent assets were 42,871 million yen, up 320 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 36,587 million yen, up 3,652 million yen from the end of the previous fiscal year.
Current liabilities were 24,013 million yen, up 3,818 million yen from the end of the previous fiscal year, andnon-current liabilities were 12,574 million yen, down 165 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 38,952 million yen, up 1,672 million yen from the end of the previous fiscal year.
It was mainly due to an increase in retained earnings.
As a result of the above, the equity ratio was 49.2%, compared to 50.6% as at the end of the previous
consolidated fiscal year.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
The consolidated financial results forecast for the full fiscal year, published on November 12, 2020, was updated
in line 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 (February 12, 2021).
The impact of the COVID-19 pandemic on our business results during the nine months ended December 31,
2020 was insignificant, due to the smooth performance of plant production, shipments, construction work, sales,
and other business activities as a result of the group-wide efforts to prevent the spread of infection. If the further
spread of the infection has a greater impact on our business activities and we accordingly judge that it is deemednecessary 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 December 31,2020

5,121,583
9,461,890

7,678,012
11,542,399

3,055,142

3,130,811

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

5,785,818
2,315,137
1,330,998
921,732(36,339)
32,668,569

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

16,453,797
9,021,077
25,474,874
348,237

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

13,825,557
3,464,285(241,945)
17,047,896
42,871,008
75,539,578

(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 December 31,2020

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

5,591,568
7,736,228
3,982,000
2,151,177
604,775
380,501
3,566,750
24,013,002

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

18,0005,343,632
667,553
6,545,130
12,574,315
36,587,318

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

5,111,583
3,837,740
18,448,012(530,921)
26,866,415

4,373,014

4,775,981

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

5,312,368(52,960)
284,377
10,319,767
1,766,076
38,952,259
75,539,578

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the nine months)(Thousand yen)
For the nine months
ended December 31,2019
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 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 nine months
ended December 31,2020

34,067,735
29,900,080
4,167,654
4,473,080(305,425)

35,624,362
29,331,480
6,292,881
4,236,165
2,056,716

9,766
187,135

9,274
193,074

213,351

218,735

69,336
479,590

91,677
512,761

35,317
98,995
134,31239,851

38,94463,280102,225
2,467,253

13,02480,214
93,238

2,167
2,167

18,53911,228138,288
168,056(34,966)
127,795(85,453)
42,341(77,307)
114,472(191,779)

16,851
54,912
71,763
2,397,657
680,703
144,659825,362
1,572,294
154,006
1,418,288

Quarterly Consolidated Statements of Comprehensive Income (For the nine months)(Thousand yen)
For the nine months
ended December 31,2019Profit (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 nine months
ended December 31,2020(77,307)

1,572,294(191,237)(1,304)(53,758)

379,748(6,164)(43,683)(11,653)

23,218(257,953)(335,261)

353,119
1,925,414(446,718)

1,770,731

111,456

154,682

(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 nine months ended December 31, 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
MeetingNovember 14, 2019 Common
30, December 2,
Board of Directors’
113,3162.00 September
shares2019
2019
Meeting

Source ofdividends
Retainedearnings
Retainedearnings(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).

2. Dividends with a record date in the nine months ended December 31, 2020 but with an effective date after theend of the period
There is no relevant information.
3. Significant changes in shareholders’ equity
There is no relevant information.
For the nine months ended December 31, 2020
1. Dividends paid
amount ofTypes of Total
Resolution
dividends
paid
shares(Thousand yen)
November 12, 2020 Common
Board of Directors’
141,646
sharesMeeting

Dividend
per share(yen)

Record date Effective date

Source ofdividends

30, December 1,
2.50 September
2020
2020

Retainedearnings(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) anddividend of 159 thousand yen for the Stock Granting Trust (J-ESOP).

2. Dividends with a record date in the nine months ended December 31, 2020 but with an effective date after theend of the period
There is no relevant information.
3. Significant changes in shareholders’ equity
There is no relevant information.

9

(Segment Information etc.)[Segment Information]
I. For the nine months ended December 31, 2019
1. Information on net sales and income (loss) by reportable segment
Reportable segment
Foundation
Net sales
Net sales to outside 20,437,787
customers
Inter-segment net
4,058
sales or transfers
Total 20,441,845
Segment income (loss)(38,619)

Real Estateand Solar
Power
Generation

SecondaryConcrete
Product

13,404,109

Total

225,837 34,067,735-

34,067,735

4,058(4,058)-225,837 34,071,793(4,058)34,067,735

995,206 (1,300,631)(305,425)--

13,404,109
911,987

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

121,837(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 nine months ended December 31, 2020
1. Information on net sales and income (loss) by reportable segment
Reportable segment
Foundation
Net sales
Net sales to outside 17,718,038
customers
Inter-segment net
8,232
sales or transfers
Total 17,726,271
Segment income (loss)

825,995

SecondaryConcrete
Product

Real Estate andSolar Power
Generation

17,679,343

Total

226,979 35,624,362

Adjustment(Note 1)(Thousand yen)Amounts
recorded in the
Quarterly
Consolidated
Statements ofIncome(Note 2)-35,624,362

8,232(8,232)-

17,679,343

226,979 35,632,594(8,232)35,624,362

2,374,214

132,498 3,332,708 (1,275,991)

2,056,716--(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.

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, 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 third 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

(Significant events after reporting period)(Acquisition of Shares)
The Company resolved at the Board of Directors’ Meeting held on January 28, 2021 to make Tohoku
Pole Co., Ltd. a subsidiary of the Company by acquiring 57.9% of its shares, and entered into a sharetransfer agreement on February 5, 2021.
(1) Overview of business combination
1) Name of acquired company and description of its business
Name of acquired company
Tohoku Pole Co., Ltd.
Description of business
Manufacture and sales of concrete poles and piles
Design and execution of civil engineering and building construction works
Size of businessTotal assets: 9,863 million yen
Net sales: 10,416 million yen
These are figures for the fiscal year ended March 2020, for which audit certification is not
obtained from the Company’s Accounting Auditor.
2) Reason for acquisition of shares
The Company and Tohoku Pole Co., Ltd. have built a favorable relationship through providing poleand pile manufacturing technologies and pile construction technologies, and mutual cooperation in sales
activities and other initiatives.
The addition of Tohoku Pole Co., Ltd. to the Group will enable us to work on establishing 5G
networks and measures for reinforcing national resilience in eastern Japan in an integrated manner
together with Hokkaido Concrete Industries Co., Ltd., which joined the Group earlier. This will help thefuture growth of the Group and add to its contribution to creating a safe, secure, and affluent society
with initiatives such as mutual provision of products in the event of a large-scale disaster or otheremergency situations.
3) Date of business combination
July 30, 2021 (plan)4) Legal form of business combination
Acquisition of shares for cash consideration
5) Company name after business combination
There will be no change.
6) Percentage of voting rights before and after acquisition
Percentage of voting rights before the change: 6.4%
Percentage of voting rights after the change: 64.3%

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(2) Acquisition cost of acquired company and its breakdown by type of consideration
The acquisition cost is not disclosed based on agreements with the parties from which the Company will
acquire the shares.
(3) Names of companies from which shares will be acquired
Tohoku Electric Power Co., Inc., and HNK Co., Inc. (subsidiary of Tohoku Electric Power Co., Inc.)(4) Fund for acquisition
The acquisition will be funded by cash and deposits and borrowings from banks.

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(Appendix)

February 12, 2021

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 November 12, 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
47,000
2.050
2,400
1,350
24.03
forecasts (A)Revised forecasts (B)47,500
2,500
2,850
1,600
28.49
Difference (B - A)
500
450
450
250
Increase (Decrease) ratio (%)
1.1
22.0
18.8
18.5
For ref.:Results for previous year
45,824
(86)
282
(35)
(0.62)(FY ended March 31, 2020)
Reasons for the revision
The forecast for net sales remains generally in line with projections, since the shipment of poles for mobile
phone base stations in our Pole-related Business has been more robust than expected and making up for
declining sales in other businesses. Meanwhile, the profit margin is expected to make a greater improvement
than estimated, due to progress in cost reduction, in addition to an increase in production and shipment of
products with relatively high profit margin. Therefore, the Company decided to revise the forecasts upward, as
shown above.

12. Revision to the Year-end Dividend Forecast
Previous forecasts(announced on November 12, 2020)

Revised forecasts
Dividends paid for this year
Dividends paid for previous year
(FY ended March 31, 2020)

2nd quarter-end
Yen
2.50
2.50
2.00

Annual dividends
Year-end
Yen
3.50
6.50
0.00

Total

Yen
6.00
9.00
2.00

Reasons for the revision
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, and makes decisions bytaking all factors into consideration, including retention of internal reserves and business conditions.
Taking into consideration the above revisions made to the full-year consolidated financial results forecast andfuture business environment, among other factors, the distribution of retained earnings for the fiscal year ending
March 31, 2021 is forecast to be 6.50 yen per share (up 3 yen from the previous forecast). With 2.50 yen as of
September 30, 2020, the annual dividend is now expected to be 9 yen per share (up 3 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.

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