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, 2022
[Japanese GAAP]
August 10, 2022
Company name:NIPPON CONCRETE INDUSTRIES CO., LTD.
Stock exchange listing: Tokyo
Code number:
5269
URL:
https://www.ncic.co.jp/
Representative:
TSUKAMOTO Hiroshi,
Representative Director and President
Contact:
SUGITA Yoshihiko,
Director and Executive Officer
Phone:
03-3452-1025
Scheduled date of filing quarterly securities report:
August 10, 2022
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, 2022 (April 01, 2022 to June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Three months ended
10,511
18.1
(79)
156
(24.1)
11(89.2)
June 30, 2022
June 30, 2021
8,902
(18.5)(22)206(54.6)
103(62.2)(Note) Comprehensive income:Three months ended June 30, 2022:¥
238 million [-%]Three months ended June 30, 2021:¥(525) million [-%]Basic earnings
per share
Three months ended
June 30, 2022
June 30, 2021

Diluted earnings per
share
Yen

Yen

0.20
1.83

-

(2) Consolidated Financial Position
Total assets
As ofJune 30, 2022
March 31, 2022
(Reference) Equity:

Net assets

Million yen

Million yen

74,56075,003As of June 30, 2022:
As of March 31, 2022:

Capital adequacy ratio¥¥

38,40838,67235,776 million
36,054 million

%

48.0
48.1

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-

4.50

-

4.50

9.00

Fiscal year ending March 31, 2023

-

3.50

7.00

Fiscal year ending March 31, 2023
3.50
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2023 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

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

Million yen%

Six months ended
26,80026.9
660 172.0
September 30, 2022
Full year
56,000
18.2
1,650
34.4
(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

920
1,900
No

* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:Million yen

%

Yen

72.4

530

(17.8)

9.45

22.1

1,110

26.7

19.79

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: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022:
57,777,432 shares
March 31, 2022:
57,777,432 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
3,488,369 shares
March 31, 2022:
2,644,746 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
Three months ended June 30, 2021:

54,647,630 shares
56,440,357 shares* Quarterly financial results are not required to be subjected to quarterly reviews.
* Explanation for appropriate use of financial forecasts and other special notes.
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. Actual results may differ from these forecasts by a variety of reasons.

Table of contents
1. Qualitative Information on Quarterly Financial Results for the Period under Review ............................................ 2(1) Explanation of Business Results ......................................................................................................................... 2(2) Explanation of Financial Position ....................................................................................................................... 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ................... 4
2. Quarterly Consolidated Financial Statements and Primary Notes ........................................................................... 5(1) Quarterly Consolidated Balance Sheets .............................................................................................................. 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income...................................................... 7
Quarterly Consolidated Statements of Income ................................................................................................... 7
Quarterly Consolidated Statements of Comprehensive Income ......................................................................... 8(3) 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(Changes in Accounting Policies) ....................................................................................................................... 9(Additional Information) ..................................................................................................................................... 9(Segment Information, etc.) .............................................................................................................................. 10(Matters Related to Revenue Recognition) ........................................................................................................ 11(Significant Events after Reporting Period) ....................................................................................................... 11
3. Other ....................................................................................................................................................................... 11
Significant Events Relating to Going Concern Assumption, etc. ............................................................................11

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Business Results
In the three months ended June 30, 2022, the economic environment saw progress made to both COVID-19
prevention and economic activities, while on the other hand, the outlook remained uncertain due to the prolonged
situation in Ukraine and significant depreciation of the yen, in addition to soaring raw material and logistics
expenses.
Regarding the business environment in which the Group operates, conditions were severe, buffeted by therising price of steel, being the raw material for piles, poles, precast products and other concrete secondary
products, as well as by delays to mobile phone base station deployment. On the other hand, expectations
continued to rise for concrete products that contribute to disaster prevention and mitigation, maintenance of social
infrastructure, disaster recovery, the shortening of construction periods, and labor saving, as well as for theCompany-developed environmental technology for carbon capture and CCUS (carbon dioxide capture,utilization and storage) products, and low-carbon type concrete products.
In these circumstances, the Group has been working under our corporate philosophy: “We contribute to a safe,
secure, and affluent society through concrete,” to realize the basic policy of our Medium-Term Management Plan,
namely, to “Contribute to reinforcement of national resilience and the global environment by boosting
competitiveness and expanding business through promotion of Group management,” and has earnestly
undertaken the various measures set forth in the plan.
Trends by business segment for the period under review are as follows.
1) Foundation Business
The demand for concrete piles across Japan during the three months ended June 30, 2022 rose by approximately
5% from a year earlier, while the Group also had a steady rebound in orders received and shipment volume. Net
sales were 5,501 million yen (up 29.4% year-on-year).
As for profit, segment loss was 70 million yen (against segment loss of 17 million yen a year earlier) on theimpact of higher raw material prices in addition to a lower profit margin on construction during the period, despite
an improvement in plant utilization rates.
2) Concrete Secondary Product BusinessIn the Pole-related Business, which is part of the Concrete Secondary Product Business, concrete pole
shipments throughout Japan fell roughly 17% year-on-year. In this environment, while there was an increase insales accounted for by Tohoku Pole Co., Ltd., which the Company newly brought under consolidation in July oflast year, shipments of poles for mobile phone base stations declined substantially due to the impact ofsemiconductor shortages and other factors, and net sales amounted to 2,974 million yen (down 5.4% year-onyear).
In the Civil Engineering Product Business, shipments of precast products rose, and production was brisk for
RC segments intended for the Linear Chuo Shinkansen. Net sales were 1,956 million yen (up 36.9% year-onyear).
2

As a result, net sales in the Concrete Secondary Product Business amounted to 4,931 million yen (up 7.8%
year-on-year).
As for profit, segment income was 323 million yen (down 32.4% year-on-year) on account of a decline in pole
production in addition to the impact of rising raw material prices.
3) Real Estate and Solar Power Generation Business
The Company reported steady rental income, and generated and sold electricity for net sales that amounted to
79 million yen (up 0.1% year-on-year) and segment income was 51 million yen (up 1.7% year-on-year).
As a result of the above, the Group’s net sales for the three months ended June 30, 2022 were 10,511 million
yen (up 18.1% year-on-year), operating loss was 79 million yen (operating loss of 22 million yen in the same
period of the previous year), ordinary profit was 156 million yen (down 24.1% year-on-year), and profit
attributable to owners of parent was 11 million yen (down 89.2% year-on-year).
As for future initiatives, each business will strive to pass on costs to sales prices and secure profits as a measure
to cope with rising raw material prices. In addition, in the Foundation Business, we will continue to focus on
securing more orders by incorporating our products into designs and improving the profit margin on construction
projects while endeavoring to enhance plant utilization rates. Moreover, we will make efforts to expand sales ofenvironment-friendly piles, aiming to release our unique G (green)-ONA pile this year, which can reduce CO2
emissions by approximately 40% over the Company’s existing product. The Pole-related Business will work to
expand sales in view of increased pole installation for 5G while keeping an eye on demand for poles geared
toward mobile phone base stations, and strive to capture demand for the replacement of existing poles. We will
also make concerted efforts in the Pole Solutions Business, expanding the scope of orders to include pole
construction works. In the Civil Engineering Product Business, inquiries for seawall repair products are
increasing, and we will proactively secure orders by means of reinforcement of sales organization, such as intergroup cooperation and expansion of sales areas, in consideration of entering infrastructure maintenance markets.
In the Environment Business, to meet the target of cutting CO2 emissions by approximately 6,000 tons
(equivalent to around 30% of the Group’s total emissions) in FY2023 set under the Medium-Term Management
Plan, besides the abovementioned G-ONA pile, we are vigorously developing environment-friendly products,
such as poles and civil engineering products utilizing concrete with reduced environmental load. Furthermore,
we are also working on pole recycling and urban infrastructure redevelopment to contribute to the establishmentof a recycling-oriented society.
Looking ahead, the Group will continue to play a role in strengthening social infrastructure and contribute tosociety through offering technology and products to reduce environmental loads. In addition, we will utilize theGroup’s synergy effect to keep enhancing our corporate value through sustainable growth.
(2) Explanation of Financial Position
The Group’s financial policies are to reduce total assets so as to improve ROA through measures such as earlycollection of accounts receivable, optimization of product inventories, and efficient capital investment strategies;
and to reduce interest-bearing debts by improving the efficiency of the Group’s funds and assets.

3

Total assets at the end of the first quarter of the fiscal year under review were 74,560 million yen, down 442
million yen from the end of the previous fiscal year.
Current assets were 31,757 million yen, down 212 million yen from the end of the previous fiscal year, andnon-current assets were 42,803 million yen, down 230 million yen from the end of the previous fiscal year.
The decrease in current assets was mainly due to a decrease in notes and accounts receivable – trade, andcontract assets, and the decrease in non-current assets was mainly due to a decrease in property, plant andequipment.
Total liabilities were 36,152 million yen, down 178 million yen from the end of the previous fiscal year.
Current liabilities were 22,770 million yen, down 118 million yen from the end of the previous fiscal year, andnon-current liabilities were 13,381 million yen, down 59 million yen from the end of the previous fiscal year.
The decrease in current liabilities was mainly due to decreases in current portion of long-term borrowings,
income taxes payable, and provisions, while the decrease in non-current liabilities was mainly due to a decline
in long-term borrowings.
Total net assets were 38,408 million yen, down 264 million yen from the end of the previous fiscal year.
The main factor was a decrease due to acquisition of treasury shares.
As a result of the above, the equity ratio came to 48.0%, down from 48.1% 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 the consolidated financial results forecast for the fiscal year ending March 31, 2023
announced on May 13, 2022.

4

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Costs on uncompleted construction contracts
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 30,2022

8,599,733

7,178,866

11,819,939

9,406,743

1,526,162

3,148,819

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

7,917,650
486,125
2,074,468
407,663
1,143,652(6,371)
31,757,618

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

17,237,062
9,426,627
26,663,690
440,332

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

12,579,755
3,248,526(128,973)
15,699,308
42,803,331
74,560,949

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

6

As of June 30,2022

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

4,909,913
7,803,398
4,282,000
2,202,431
57,400588,9112,926,457
22,770,512

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

80,0006,182,600
1,197,103
5,922,015
13,381,718
36,152,230

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

5,111,583
3,850,596
18,933,678(1,012,426)
26,883,431

3,547,540

3,767,073

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

5,312,368(126,512)(59,717)
8,893,211
2,632,076
38,408,719
74,560,949

(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 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating 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 sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

For the three months
ended June 30,2022

8,902,937
7,388,002
1,514,935
1,537,390(22,455)

10,511,629
8,962,250
1,549,379
1,629,268(79,888)

2,206
174,789759
161,294

58,26834,20830,547
265,81376,823
273,085

12,186
24,83037,016206,341

14,343
22,251
36,594
156,601

164,036
164,036

1,465
1,465

527
26,741
27,268343,10978,956
134,550
213,506
129,602
26,082
103,520

6,717
6,717
151,350
40,371
85,591
125,963
25,38614,188
11,198

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Thousand yen)
For the three months
ended June 30,2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

8

For the three months
ended June 30,2022

129,602

25,386(552,679)(76,305)(20,693)

224,697
24,079(32,100)(5,120)(3,528)(654,799)(525,196)

213,146
238,533(549,453)

222,650

24,257

15,882

(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, 2021
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

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

Commonshares368,280

6.50

Record date

Effective date

Source ofdividends

March 31, 2021

June 15, 2021

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on June 4,2021 includes dividend of 366 thousand yen for the Board Incentive Plan Trust (BIP) and dividend of 413
thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the three months ended June 30, 2021 but with an effective date after
the end of the period
There is no relevant information.
For the three months ended June 30, 2022
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

Dividend
per share(yen)

May 30, 2022
Board of Directors’Meeting

Commonshares

250,588

4.50

Record date

Effective date

Source ofdividends

March 31, 2022

June 14, 2022

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on May 30,
2022 includes dividend of 627 thousand yen for the Board Incentive Plan Trust (BIP) and dividend of 496
thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the three months ended June 30, 2022 but with an effective date after theend of the period
There is no relevant information.
(Changes in Accounting Policies)(Application of the Implementation Guidance on Accounting Standard for Fair Value Measurement)
Effective from the beginning of the first quarter of the fiscal year under review, the Company has applied the“Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, June17, 2021; hereinafter “Fair Value Measurement Guidance”), and will prospectively apply the new accounting
policies stipulated by the Fair Value Measurement Guidance in accordance with the transitional treatment
provided in Paragraph 27-2 of the Fair Value Measurement Guidance. There has been no impact on quarterly
consolidated financial statements.
(Additional Information)(A transaction in which the Company’s shares are delivered to its employees, etc. through a trust)(1) Summary of the transaction
As for the Board Incentive Plan Trust (hereinafter referred to as the “BIP Trust”) and the Stock Granting
Trust (J-ESOP) (hereinafter referred to as the “J-ESOP Trust”) introduced in August 2015, the Company
resolved at the Board of Directors’ Meeting held on August 11, 2021 to continue the BIP Trust and the JESOP Trust for a new three-year period (from the fiscal year ended March 31, 2022 to the fiscal year ending

9

March 31, 2024) and reintroduced them by entering into an agreement to extend their terms, for the purposeof increasing motivation to improve the Company’s medium- to long-term performance and raisingawareness toward the contribution to an increase in shareholder value.
(2) The Company’s shares remaining in the trust
The Company’s shares remaining in the trust are recorded as treasury shares in net assets at their bookvalue (excluding incidental expenses) in the trust. The book value and the number of shares of the treasury
shares at the end of the first quarter of the fiscal year under review are 44,424 thousand yen and 138,895
shares for the BIP Trust, and 35,940 thousand yen and 110,310 shares for the J-ESOP Trust.
(Segment Information, etc.)[Segment Information]
I. For the three months ended June 30, 2021
1. Information on net sales, income (loss) by reportable segment(Thousand yen)
Reportable segment

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

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

4,251,397

4,572,442

79,097

8,902,937－

8,902,937

1,549

－

－

1,549

(1,549)－

Total

4,252,947

4,572,442

79,097

8,904,487(1,549)8,902,937

Segment income (loss)(17,820)

478,851

50,263

511,294(533,749)(22,455)

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers(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 of income.
2. Information on impairment losses of non-current assets and goodwill by reportable segment(Significant impairment losses pertaining to non-current assets)
In the Foundation Business segment, the Company reduced the book value of assets held for sale to theirrecoverable value. The amount of the said impairment loss reported during the three months ended June 30, 2021
was 26,741 thousand yen.
II. For the three months ended June 30, 2022
1. Information on net sales and income (loss) by reportable segment(Thousand yen)
Reportable segment

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

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

5,501,235

4,931,194

79,19910,511,629－

10,511,629

809

－

－

809

(809)

－

Total

5,502,044

4,931,194

79,19910,512,438(809)

10,511,629

Segment income (loss)(70,920)

323,527

51,133

303,741(383,629)(79,888)

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers

10(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 of income.
2. Information on impairment losses of non-current assets and goodwill by reportable segment
There is no relevant information.
(Matters Related to Revenue Recognition)
Information on the breakdown of revenue arising from contracts with customers
For the three months ended June 30, 2021
Foundation
Business

Concrete
Secondary ProductBusiness
4,117,664
449,962

Product sales
476,416
Construction contract
3,767,434
sales
Other sales
4,386
4,815
Revenue from contracts
4,248,237
4,572,442
with customers
Other revenue (Note)
3,160－
Net sales to outside
4,251,397
4,572,442
customers(Note) Other revenue includes revenue from real estate leasing.

(Thousand yen)

Real Estate andSolar Power
Generation Business－－

4,594,080
4,217,396

22,087

31,29022,087

8,842,767

57,00960,17079,097

8,902,937

For the three months ended June 30, 2022
Foundation
Business

Total(Thousand yen)Concrete
Secondary ProductBusiness
4,347,032
582,312

Product sales
1,311,524
Construction contract
4,183,124
sales
Other sales
3,128
1,849
Revenue from contracts
5,497,778
4,931,194
with customers
Other revenue (Note)
3,456－
Net sales to outside
4,931,194
5,501,235
customers(Note) Other revenue includes revenue from real estate leasing.

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

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

11

Real Estate andSolar Power
Generation Business
－
－

Total
5,658,557
4,765,437

20,77625,754

20,776

10,449,749

58,423

61,88079,19910,511,629