Corporate Name: Nifco Inc. (URL: https://www.nifco.com/en/)
Stock Exchange: Prime Market; Code Number: 7988
President & CEO: Masaharu Shibao
Inquiries to: Toshiki Yauchi, Director, Senior Executive Managing Officer & CFO (+81-3-5476-4853)
Shihanki-Hokokusho to be submitted on: August 9, 2023

July 31, 2023

Highlight
Summary of Consolidated Financial Resultsfor First Quarter of Fiscal Year Ending March 31, 2024
(These figures are rounded down to the nearest million yen.)

1. Consolidated Financial Results for First Quarter of FY2023 (April 1 to June 30, 2023)(1) Consolidated financial results(The percentages denote year-on-year change.)
Net sales
Operating profit
Ordinary profit
Million yen%
Million yen%
Million yen%First Qtr. FY2023
87,97721.1
10,14628.0
13,40819.3
First Qtr. FY2022
72,648
3.2
7,928
-10.9
11,24318.9
Note:
Comprehensive income: 11,240 million yen in First Qtr. FY2023 (-25.3%), 15,039 million yen in First Qtr. FY2022 (27.1%)

Profit attributable to
Basic earning per share
Diluted earning per shareowners of parent
Million yen%
YenYenFirst Qtr. FY2023
9,728
21.1
97.50
First Qtr. FY2022
8,035
31.7
80.22
Note: Diluted profit attributable to owners of parent per share of First Qtr. FY2023 and First Qtr. FY2022 are not shown in theabove table, as there are no potential common shares with dilution effect.

――(2) Consolidated financial position
First Qtr. FY2023
FY2022
Reference: Equity capital:

Total assets
Net assets
Million yen
Million yen
355,472
233,215359,150
226,127
230,512 million yen in First Qtr. FY2023,Net assets ratio%Net assets per shareYen
64.8
2,311.1962.2
2,237.06
223,551 million yen in FY2022

2. Dividends
At end of firstquarterYen

At end of secondquarter
Yen
31.00

―
FY2022―
FY2023
FY2023 (forecast)
32.00
Note: Revision of the latest forecast of cash dividends: None

Dividend per share
At end of thirdquarter
Yen――

3. Forecasts for FY2023 (April 1, 2023 to March 31, 2024)
Net sales

FY2023Note:

Millionyen
343,000

Operating profit%
6.6

Millionyen
38,000%10.3

At end of FYFYYenYen
33.00

64.00

32.00

64.00

(The percentages denote year-on-year change.)
Profit attributable toBasic earning per
Ordinary profit
owners of parent
shareMillion%
Million yen%
Yenyen38,3001.1
23,50011.0
235.59

Revision of the latest forecasts: Yes- 1 -4. Others(1) Changes in principal subsidiaries during the fiscal year (changes in specific subsidiaries, which involve changes in the scope ofconsolidation): None
New consolidation: —company (company name): —Exclusion: ‐ company (company name): －(2) Adoption of specific accounting policies for quarterly consolidated financial statement: Yes(3) Changes in the principles and procedures of accounting concerning the preparation of consolidated financial statements and in themethods of presentation, etc. (stated in “Changes in Significant Accounting Policies for Preparing Consolidated FinancialStatements”)
1) Changes following the revision of accounting standards, etc.:

None2) Changes other than 1):

None3) Changes in accounting estimates:

None4) Retrospective restatement:

None(4) Number of shares outstanding (common stocks)
1) Number of shares outstanding at end of the period (including treasury stocks): 107,508,954 in First Qtr. FY2023; 107,508,954 inFY2022.
2) Number of treasury stocks at end of the period: 7,771,222 in First Qtr. FY2023; 7,577,913 in FY2022.
3) Average number of shares outstanding during the period: 99,780,742 in First Qtr. FY2023; 100,171,484 in First Qtr. FY2022.

*Quarterly financial results reports are exempt from quarterly review conducted by certificated public accountants or an audit
corporation.
* Proper use of forecasts and other special instructions
Forward-looking statements or projections included in this document, including earnings projections, are based on
currently available information and certain premises that are judged to be rational at the time of this writing. Actual results
may differ greatly from the forecast figures depending on various factors.

(Consolidated Financial Statements)
Segment Information[Business segment information]- For the First Quarter of FY2022 (April 1 to June 30, 2022)(Unit: Millions of yen)

Reportable segments

Elimination& corporate
expenses

Consolidated figures

Industrial plastic parts& components

Bedding & furniture(1) Sales to customers

65,2397,408

72,648-72,648(2) Inter-segment sales-00-0-

65,2397,408

72,648-0

72,648

7,866

1,302

9,169

-1,240

7,928

Total

Net sales and segment profit (loss)
Net sales

Total
Segment profit (loss)- For the First Quarter of FY2023 (April 1 to June 30, 2023)(Unit: Millions of yen)

Reportable segments
Industrial plastic parts& components

Bedding & furniture

79,826

8,150

Elimination& corporate
expenses

Total

Consolidated figures

Net sales and segment profit (loss)
Net sales(1) Sales to customers(2) Inter-segment sales
Total
Segment profit (loss)

87,977-

87,977-----

79,8268,150

87,977-

87,977

10,092

1,371

11,463-1,317

10,146- 2 -