The 61st Business Year Business
Performance Data Analysis
Fiscal Year Ending December 2023
Third Quarter

Published by:(Securities code: 9830)

Business Administration Headquarters, Corporate Planning Division, Public Relations & IR Section
Trusco Fiorito Bldg. 10th floor, 4-28-1, Shinbashi, Minato-ku, Tokyo 105-0004, Japan
TEL：03-3433-9840 FAX：03-3433-9881
E-mail: info@trusco.co.jp

1
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Table of Contents
01. Company Profile

04. Financial and Other Performances……………………… P.3

Company overview
Business flow[Consolidated] Selling, general and administrative expenses (SGA)[Consolidated] Details of selling, general and administrative expenses (SGA)[Consolidated] Financial statements and financial indicators[Consolidated] Capital expenditures
Major capital expenditures for the current fiscal year

05. Various key indicators
02. Company-wide Business
Performance…………… P.6

Accounting highlights[Consolidated] Business performance / Management plan
[Consolidated] Monthly sales[Consolidated] Monthly sales by sales route

03. Sales Performance………………… P. 12[Consolidated] Management plans / Business performance by sales route[Non-consolidated] Sales by category of goods[Non-consolidated] Changes in sales by category of goods (small category)[Non-consolidated] Sales of private brand (PB) goods…………………… P. 28

Digital / Merchandise / Sales / Logistics / Human Resources

06. Management Plan………………………… P. 35[Consolidated] About the 61st business year full-year budget[Consolidated] Quarterly business performance and budget (quarterly)[Consolidated] Quarterly business performance and budget (cumulative)
Vision - Capacity targets -07. ESG Information………………………… P. 40

TRUSCO's "Gentleness for the Future" Project
Sustainability indicators
Other environmental measures and initiatives
Relationship with society & corporate governance

08. Reference Information
This document contains statements regarding future forecasts of business performance and business plans.
Such statements are not guarantees of future performance and involve risks and uncertainties.
Please note that future performance may differ from the planned figures due to changes in the management
environment and other factors. This document is for informational purposes only and the Company is under noobligation to update it with the latest information available at this time.

…… P. 22…………………… P. 46

Stock information
Index comparison in the industry
The Company's sales index and industrial production index
2
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

01

Company overview
Business flow

Company Profile

3
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Company overview

Corporate message

Company name

TRUSCO Nakayama Corporation

Founding

May 15, 1959

“GAMBARE!!
JAPANESE MONODZUKURI”.

Tetsuya Nakayama, President
Representative

Head offices

Number of offices

Chairman, Nakayama Visually Impaired Welfare Foundation
Vice president, Japan Federation of Machine Tool Distributors Associations
President, Osaka Machine Appliance Wholesaler Cooperative

Tokyo Head Office (Minato-ku, Tokyo, registered as official headquarters)
Osaka Head Office (Nishi-ku, Osaka City)

94 in total:
89 domestic bases: (2 head offices, 59 domestic sales branches, 28 domestic distribution centers)
5 overseas bases: (Local subsidiaries: TRUSCO NAKAYAMA CORPORATION (THAILAND)
LIMITED, TRUSCO NAKAYAMA CORPORATION (INDONESIA) LIMITED,
Supplier development office: Germany, Taiwan, Thailand)

Capital stock

5,022,370,000 yen

Listed stock exchangeFirst section of the Tokyo Stock Exchange (Code number: 9830)

Number of employees

3,025 (consolidated)

Credit rating

Single A (Rating and Investment Information, Inc.)

Line of business

Wholesale of all kinds of factory auxiliary materials (pro-tools), including working tools,
measuring tools, and cutting tools needed in production. The company's mission is to improvethe convenience of materials procurement at manufacturing sites through the general catalog"TRUSCO Orange Book" and the search site "TRUSCO Orange Book.Com."Tokyo Head Office: Trusco Fiorito Bldg.
(Minato-ku, Tokyo)

As of end of September 2023
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

4

Business flow
Manufacturers
Wholesale

3,462 companies

Connecting an outlet toDomestic suppliers

TRUSCO is an easy way to

3,127 3,046
companies

take advantage of ourresources.

Distributors

Users

Retail 5,608 companies∞ (infinite)

Factory route
Manufacturers,
construction
companies, etc.

We deliver our products to factories,
construction sites, and othermanufacturing sites through machine tool
dealers, etc.

e-business route

Manufacturers,
general consumers,
etc.

The products are delivered to factories
and consumers through Internet ordercompanies.

32

Overseas330

32 countries,
335 companies
Ireland, U.S.A., U.K., Italy, Israel,
India, Estonia, Austria, Netherlands,
Canada, Greece, Singapore,
Switzerland, Sweden, Spain, Sri
Lanka, Slovakia, Thailand, Czech
Republic, Denmark, Germany, New
Zealand, France, Vietnam, Belgium,
Poland, Portugal, Malaysia, Norway,
Korea, Taiwan, China

Merchandise

Logistics
Home center route
We deliver our products to consumers
through home centers and pro-tool shops.

Sales

DigitalOverseas route
We deliver our products to manufacturing
sites around the world.

Businesses
conducting outdoor
work, general
consumers, etc.

Overseas
manufacturers, etc.

As of end of September 2023
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

5

02

Company-wide
Business
Performance

Accounting highlights[Consolidated] Business performance /Management plan
[Consolidated] Monthly sales[Consolidated] Monthly sales by sales route

6
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Accounting highlights▮ Performance in the third quarter of the 61st business year
Net sales

Gross profit margin
Selling, general andadministrative expenses (SGA)
Quarterly profit attributable toowners of parent

196,583 million yen(YoY change +8.7%)･ Increased through measures that contribute to improved customer convenience and reduced
environmental impact, including strengthening the promotion of the use of “Niawase +Yuchoku” (assortment + direct delivery to users), which utilizes an abundant inventory of
approximately 570,000 items and state-of-the-art distribution equipment

21.2% ・ We continue to receive requests from suppliers for price revisions, and we are graduallyproceeding with price pass-through(Change from the end of・Profitability impact from revised prices that occurred in the second quarter will not occur inprevious fiscal year ±0 pt)
the third quarter
28,445 million yen(YoY change -0.6%)

・ Freight and packing expenses increased due to increased sales, and salaries and bonuses
increased due to monthly incentive payments, etc., while depreciation, and commission fees
decreased.

8,768 million yen(YoY change +35.5%)

・ 35.5% YoY increase due to increased sales, an increase in gross profit margin due to salesof products purchased at the old prices before the price revisions that occurred in the second
quarter at the revised price, and a decrease in selling, general and administrative expenses
such as depreciation.

▮ Outlook for the full 61st business year
Plan

YoY change

Net sales

266,080 million yen+8.0%

Gross profit

56,970 million yen+9.2%

Selling, general and administrative
expenses (SGA)

39,040 million yen+4.1%

Ordinary income

18,220 million yen+20.9%

Profit attributable to owners of parent

12,190 million yen+14.7%

・We expect sales to increase through measures
including "Assortment + Direct delivery to users"
that improve convenience for customers andcontribute to reducing environmental impact.
･ Taking into consideration that suppliers willcontinue to request price revisions, gross profit isexpected to increase by approximately 500 million
yen.
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

7

[Consolidated] Business performance
Actual results for FYE December 31, 2022
Actual results

Share

Actual results for FYE December 31, 2023 Third QuarterYoY change

Actual results

Changefrombudget (%)

YoYchangeShare

Net sales

246,453 million yen

-

+8.6%

196,583 million yen

-

+8.7%

+0.1%

Gross profit

52,160 million yen

21.2%

+9.4%

41,607 million yen

21.2%+10.2%-0.1%

Selling, general andadministrative
expenses (SGA)

37,493 million yen

15.2%

+8.1%

28,445 million yen

14.5%

-0.6%

-1.2%

(depreciation includedin SGA)

6,667 million yen

2.7%

-3.8%

4,720 million yen

2.4%

-6.0%

-1.9%

Operating income

14,667 million yen

6.0%+12.8%

13,162 million yen

6.7%+44.1%+2.4%

Ordinary income

15,065 million yen

6.1%+11.1%

13,215 million yen

6.7%+40.6%+1.4%

Current (quarterly)
profit attributable toowners of parent

10,626 million yen

4.3%

-8.4%

8,768 million yen

4.5%+35.5%+1.5%

Current (quarterly) net
income per share161.15 yen--14.71 yen

132.98 yen-+34.86 yen+1.96 yen

Private brand sales

45,876 million yen

18.6%

+5.6%

36,087 million yen

18.4%

5.8%

-

Capital expenditures

4,799 million yen--

10,150 million yen

-

-

-

Points・ Net sales
YoY change +8.7% Change from budget+0.1%
Increase in sales due to inventory andlogistics structure and various efforts
・ Gross profit margin
Change from the end of previous fiscal year
±0 pt
We continue to receive requests fromsuppliers for price revisions, and we are
gradually proceeding with price passthrough・ Selling, general and administrative
expenses (SGA)YoY change -0.6% Change from budget 1.2%
(Increase) Freight and packing expenses,
etc.
(Decrease) Depreciation, etc.

・ Quarterly profit attributable to owners ofparentYoY change +35.5% Change from budget+1.5%
Increase in gross profit margin due toincrease in sales and decrease in selling,
general and administrative expenses, etc.

8
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Management plan

* This is the revised budget announced on August 10, 2023.

Budget for FYE December 31, 2023 Fourth Quarter
BudgetShare

FY 2023

YoY change

Full Year Budget*

BudgetYoY change

Key points of revised budget

Net sales

69,735 million yen

-

+6.4%

266,080 million yen+8.0%

Gross profit

15,336 million yen

22.0%

+6.5%

56,970 million yen+9.2%

Selling, general andadministrative
expenses (SGA)

10,258 million yen

14.7%+15.6%

39,040 million yen+4.1%(depreciation includedin SGA)

1,586 million yen

2.3%

-3.7%

6,402 million yen-4.0%

Operating income

5,078 million yen

7.3%

-8.2%

17,930 million yen+22.2%

Ordinary income

5,184 million yen

7.4%

-8.5%

18,220 million yen+20.9%

Current (quarterly)
profit attributable toowners of parent

3,550 million yen

5.1%-14.6%

12,190 million yen+14.7%

Current (quarterly) net
income per share

53.83 yen-

-9.20 yen

184.86 yen+23.71 yen

Dividend per share

23.50 yen-

±0 yen46.50 yen

+6.50 yen

3,468 million yen--

13,618 million yen-

Capital expenditures

・ Net sales
Formulated based on first half
performance and initial budget forsecond half
・ Gross profit margin
Consideration of approx. 500 million
yen impact on profit by sellinginventory products purchased before
the price revision at the revised
prices・ Selling, general andadministrative expenses (SGA)
Changed based on results for firsthalf of year
・ Quarterly profit attributable toowners of parent
Increase in net sales, increase inprofit margin due to the effect ofselling inventory products purchased
before the price revision at therevised prices, and decrease in
selling, general and administrative
expenses including depreciation

9
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Monthly sales
25,48526,00023,09924,00020,00021,566

21,59722,00022,18322,161

23,153 23,295 23,287

20,84820,741▮ Actual results (January-September)

18,899▮ Budget (October-December)* Budget revised on August 10th

18,000+11.5
14,000

+11.4

+7.7

16,000

+12.2

+10.1

+6.6

+9.2

+6.4

+8.2

+4.8

+5.3

+4.3

12,00010,0008,000

・ Orders are constantly placed for
consumables used in factories. As such, weplace focus on the sales per day.
Our sales increase during the peak periods ofMarch when many companies close theiraccounts.

6,000

Net sales (million yen)
Year-on-year change (%)

4,000
2,000
0
January

February
January

Number ofbusiness days
(days)
Year-on-yearchange (days)
Sales per day(million yen)
Year-on-yearchange (%)

March

February

April

March

May

April

May

June

July

AugustJune

July

AugustSeptember
September

October

OctoberNovember December

November

December

Total

19

19

22

20

20

22

20

22

20

21

20

21

246

+1

+1

±0

±0

+1

±0

±0

±0

±0

+1

±0

-1

+3

995

1,137

1,158

1,078

1,037

1,050

1,108

948

1,109

-

-1.2

+5.6

+7.7

+11.4

+12.2

+6.6

+10.1

+8.2

+6.4

-

* Since April 1, 2022, we have changed our holidays according
to the calendar, so the number of business days has
increased compared to the previous year.

10
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

▮ Actual results (January-September)[Consolidated] Monthly sales by sales route▮ Budget (October-December)* Budget revised on August 10the-business route5,462* Since April 1, 2022, we have changed our holidays according to the calendar, so the number of business days
has increased compared to the previous year.

5,050

4,814

4,789

4,895

4,876

4,553

4,940

5,080

4,871

4,520

4,241

Number ofbusiness days

January

February

March

April

May

June

July

August

19

19

22

20

20

22

20

22

September October

20

November December

21

20

21

Total

+19.2

246

Net sales (million yen)

+17.5

+1

YoY change

+1

±0

±0

+1

±0

±0

±0

±0

+1

±0

-1

+3

Year-on-year change (%)

+9.7

+17.4

+14.5
+12.5

+13.1

+12.8

+12.3

+10.9

+8.0

Factory route+5.8

17,68815,922
14,784

15,835
15,141

14,575

16,138January

16,057

15,032

March

April

May

June

July

AugustSeptember

1,995

2,036

OctoberNovember December

Home center route

14,103

13,825February

2,112

12,795

2,146

2,146
2,031

1,882

1,829

2,043
1,920

1,889

1,701

+ 9.5

+ 8.9

+ 5.5

+ 8.5

+ 9.3

+ 7.7
+ 4.6

+ 6.0
+ 5.3

+ 8.5

Net sales (million yen)

+ 5.4

+ 18.1Year-on-year change (%)+ 13.5+ 16.7+ 17.0+ 13.0+ 17.5+ 0.7
Net sales (million yen)

+ 6.3

Year-on-year change (%)

+ 2.6

+ 0.6

△ 5.7

+ 2.1
△ 6.0

January

February

March

April

May

June

July

AugustSeptember

OctoberNovember December

January

February

March

April

May

June

July

AugustSeptember

OctoberNovember December

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

11

03
Sales
Performance[Consolidated] Management plans / Business performanceby sales route・Factory route・e-business route
・Home center route・Business performance of subsidiaries[Non-consolidated] Changes in sales by category of goods[Non-consolidated] Sales by category of goods[Non-consolidated] Sales of private brand (PB) goods
12
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Business performance by sales route
Factory route: Share 68.1% (YoY change +6.6%) e-business route: Share 22.0% (YoY change +14.0%)
Home center route: Share 9.0% (YoY change +11.4%) Overseas route: Share 0.9% (YoY change +19.3%)
Actual results for FYE December 31, 2022
Gross profit
marginNet sales

Gross profit margin

YoY change

68.1%

+6.6%

-0.1%

21.2%

±0pt

43,204 million yen

22.0%+14.0%

+0.5%

21.9%

-0.2pt17.4%

17,626 million yen

9.0%+11.4%

+1.1%

17.2%

-0.2pt+24.4%

35.8%

1,881 million yen

0.9%+19.3%

-2.6%

34.6%

-1.2pt

+8.6%

21.2%

196,583 million yen

100.0%

+8.7%

+0.1%

21.2%

±0pt

Actual results

Actual results

Factory route170,606 million yen

69.2%

+5.1%

21.2%

133,871 million yen

e-business route51,576 million yen

20.9%+16.2%

22.1%

Home center route22,162 million yen

9.0%+20.7%

Overseas route2,108 million yen

0.9%

246,453 million yen

100.0%

Share

Actualresults

Change fromthe end of
previous
fiscal year

Change frombudget (%)

YoY change

Actualresults

Net sales

Sales route

Total

Share

Actual results for FYE December 31, 2023 Third Quarter

13
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Management plan by sales route* This is the revised budget announced on August 10, 2023.

Budget for FYE December 31, 2023 Fourth Quarter

FYE December 31, 2023

Net sales
Sales route

BudgetFull Year Budget*

Net sales

Share

YoY change

BudgetYoY change

Factory route

48,032 million yen

68.9%

+6.8%

182,011 million yen+6.7%

e-business route

14,892 million yen

21.4%

+8.8%

57,885 million yen+12.2%

Home center route6,109 million yen

8.8%

-3.7%

23,551 million yen+6.3%

697 million yen

0.9%+31.4%

2,631 million yen+24.8%

69,732 million yen

100.0%+6.4%

266,080 million yen+8.0%

Overseas route
Total

14
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Business performance by sales route: (Factory route)
This route delivers our products to factories, construction sites, and other manufacturing sites through machine tool dealers, etc. While businessconditions in the manufacturing sector have not returned to their pre-pandemic levels, the holding of abundant inventories and the implementationof various initiatives resulted in a YoY change in net sales of +6.6%.
Actual results for FYE December 31, 2022
Gross profit
marginNet sales

Sales route

Actual results

Machine tool dealers

86,908 million yen

Actual results for FYE December 31, 2023 Third Quarter
Net sales

Actualresults

Share

50.9%

Actual results

21.5%

Gross profit marginShare

66,752 million yen

PointsYoY change

49.9%

Change fromthe end of
previous
fiscal year

Actualresults

+4.0%

21.9%

・ By maintaining an abundant inventory, we
are able to provide our customers withimmediate delivery and one-stop purchasing,and at the same time, we are able to achieve"assortment" of multiple orders into a single
box for shipment and direct delivery to users.

+0.4ptDealers in welding materials

24,206 million yen

14.2%

20.7%

19,205 million yen

14.3%

+8.3%

20.6%

-0.1 pt

Other manufacturing related(Physical chemical, conductor,
packaging material dealers, etc.)

27,942 million yen

16.4%

20.3%

22,474 million yen

16.8%

+8.8%

19.8%

-0.5ptConstruction related

31,548 million yen

18.5%

21.5%

25,439 million yen

19.0%+10.2%

21.3%-0.2pt・ We carried out business activities that also
help to reduce our environmental impact,
such as strengthening efforts in "MRO
Stocker," which enables product procurement
at the factory at any time, and strengthening
efforts in our "Naojiro" repair workshop.
Customers

Factory route total* The gross profit margin has beenadjusted in this document byreclassifying gross profit among
sales channels for FYE December
31, 2022.

170,606 million yen

100.0%

2022 Q3 F route net sales (million yen)2023 Q3 F route net sales (million yen)

21.2%

133,871 million yen

100.0%

+6.6%

±0pt

21.2%

Internet order companies
Home centers
Tools and hardware
retailers

Users
Production
factories
Construction sites
General consumers( ) YoY change

31,012(+7.1%)

24,418(+6.5%)

28,942

22,923
14,603

17,781

12,875(+6.0%)

13,34318,643(+4.9%)

14,142(+8.3%)

13,671

11,88912,978(+6.8%)

5,197(+7.4%)

12,08815(+3.9%)

5,000
Hokkaido and Tohoku

Kita-Kanto and Shinshu

Tokyo Metropolitan

Hokuriku

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.
Tokai

Kinki

Chugoku and Shikoku

Kyushu[Consolidated] Business performance by sales route: (e-business route)
This route delivers our products to manufacturing sites, such as factories and construction sites, and consumers through Internet order companies.
Product data and system linkage, as well as logistics processing tailored to customer needs, have improved convenience, resulting in a YoYchange in net sales of 14.0%.
Actual results for FYE December 31, 2022

Actual results for FYE December 31, 2023 Third Quarter

Gross profit
marginNet sales

Net sales

Gross profit margin

Sales route
Actual results

Share

Actualresults

Actual results

Share

PointsYoY change

Actualresults

Change fromthe end of
previous
fiscal year

Mail order companies

40,148 million yen

77.8%

20.9%

32,913 million yen

76.2%+11.7%

20.7%-0.2ptCompanies participating in Orange
Commerce (TRUSCO’s electronic
central purchasing system), MRO
Stocker

11,428 million yen

22.2%

26.3%

10,290 million yen

23.8%+22.2%

25.9%-0.4 pt

e-business route total

51,576 million yen

100.0%

22.1%

43,204 million yen

100.0%+14.0%

21.9%-0.2ptSales to mail order companies: Sales ratio by industry

MRO
40.0%
MonotaRO, Misumi, etc.

Dealers of physical chemical
and medical devices
2.6%
Tubing dealers 1.0%
Machine tool dealers 4.8%

Comprehensive
Mail order
Stationery mail companies ofmail order
order companies home electricalcompanies
appliances
12.2%
9.6%
20.8%
Amazon, etc.

Askul, etc.

Other mail ordercompanies
4.5%

・ Strengthening unique logistics services such as
logistics processing and "assortment + direct
delivery to users" tailored to customer needs
・ By developing a product database withapproximately 3.71 million items, strengthening
system integration, and offering logistics services
that fulfill the demands of internet order companies
and companies participating in Orange Commerce,
we have improved convenience and significantly
increased the number of orders made to ourcompany.

Data usage
Product adoption andperformance information

Data
Other
2.2%

Hardware retailers
2.3%

Data expansion

Data linking

e-commerce

Data linkage with
suppliers and customers

16
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Business performance by sales route: (Home center route)
This route delivers our products to consumers through home centers and pro-tool shops. As companies are strengthening their e-commercebusinesses, we aggressively proposed services utilizing our inventory of approximately 570,000 items and logistics capabilities, resulting in a YoYchange in net sales of 11.4%.
Actual results for FYE December 31, 2022

Home center route

Net sales

Gross profit margin

Actual results

Actual results

22,162 million yen

17.4%

Actual results for FYE December 31, 2023 Third Quarter
Net sales

Gross profit margin

Actual results

YoY change

17,626 million yen+11.4%

Change in sales earned via home center route (Unit: million yen)
22,162
18,366

Budget23,551
17,626

16,992

Actualresults

17.2%

Change fromthe end of
previous
fiscal year

-0.2ptPoints
We consolidated commercial distribution channels
and acquired a new right to supply products
through collaborative efforts between our storesand EC site. In addition, we also saw an increase insales at pro-tool shops, which are dealers thattarget professional craftspeople and factory workers
who have a high affinity with our company.
・ Utilizing the approximately 3.71 million items wehave for sale and approximately 570,000 items
we have in stock for instant delivery, we worked
on measures to continue expanding sales byenhancing the product lineup in our stores and EC
site.

14,702

2019

2020

2021

2022

17

2023
3rd quarter

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Business performance by sales route:(Business performance of subsidiaries)
We strengthened our sales activities by reviewing inventory items and developing local customers and suppliers.
TRUSCO NAKAYAMA CORPORATION (non-consolidated)

Actual results for FYE December 31, 2023
Third Quarter
AmountShare

TRUSCO NAKAYAMA CORPORATION (THAILAND) LIMITED

Full year
budgetYoYchangeActual results for FYE December 31, 2023
Third Quarter

YoYchangeAmountShare

YoY change

Full year
budgetYoYchange

TRUSCO NAKAYAMA CORPORATION (INDONESIA) LIMITED

Actual results for FYE December 31, 2023
Third Quarter
AmountShare

Full year
budgetYoY change

YoYchangeNet sales

196,075 million yen

100.0%

+8.7%

+7.8%

713 million yen

100.0%+13.6%+13.3%

409 million yen

100.0%+14.3%+33.9%

Gross profit

41,274 million yen

21.1%+10.2%+9.2%

185 million yen

26.0%+21.1%+19.9%

136 million yen

33.2%+30.3%+31.6%

Selling, generaland administrative
expenses (SGA)

28,199 million yen

14.4%

-0.6%

+4.0%

125 million yen

17.6%

+3.2%

+6.3%

120 million yen

29.5%

+5.2%

+20.1%

Depreciation
included in SGA

4,663 million yen

2.4%

-6.0%

-4.1%

16 million yen

2.3%-10.7%+1.5%

40 million yen

9.9%

-3.0%

+18.1%

Operating income

13,074 million yen

6.7%+44.3%+22.5%

59 million yen

8.4%+90.1%+79.7%

15 million yen

3.8%

-

-

Ordinary income

13,152 million yen

6.7%+40.1%+20.8%

63 million yen

8.9%+96.0%+70.9%

20 million yen

4.9%

-

+60.2%

Quarterly profit

8,712 million yen

4.4%+34.9%+14.6%

63 million yen

8.9%+96.0%+70.9%

20 million yen

4.9%

-

+60.2%

Actual results

Business performance in otheroverseas regions (Philippines,
China, South Korea, etc.)

Rate
YoY change

Net sales

Gross profit

754 million yen

185 million yen

-

24.6%

+27.7%+15.0%

Points・ By enhancing the development of personal suppliers for local top brands inThailand, and by reviewing inventory items in Indonesia, we have shortened thedelivery lead time and expanded the sales area through transactions with newcustomers of local companies.
・ With regards to sales to other overseas regions, we worked to expand transactions
by opening new accounts with EC companies mainly in the Asia-Pacific region.
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

18

[Non-consolidated] Sales by category of goods(Unit: million yen, %)Category of goods (large
category)
1. Cutting tools

2. Production processing
goods

3. Construction goods

Medium category

YoYchangeGrossprofitmarginCategory of goods (large
category)

Medium category

TRUSCO's
sales

Share

YoY
changeGrossprofitmarginCutting tools total

6,119

3.1

① Cutting tools

3,150

1.6

-

② Drilling and thread cutting tools

2,968

1.5

-

21.4

㉖ Safety goods

7,983

4.1

-

25.8

Production processing goods total

14,403

7.4

15.6㉗ Environment improvement goods

1,803

0.9

-

18.5

③ Measurement equipment

7,584

4｡0

-

15.0

㉘ Air conditioning goods

4,114

2.1

-

17.4

④ Mechatronics

3,038

1.5

-

15.2

㉙ goods

1,701

0.9

-

19.3

⑤ Tools for machine tools

1,779

0.9

-

23.9

㉚ Closets and exterior goods

1,624

0.8

-

⑥ Electronic machinery

2,000

1｡0

-

Distribution and storage equipment total

20,534

10.5

Construction goods total

22,801

11.6

10.9 7. Distribution andstorage equipment
21.5㉛ Loading goods

5,749

2.9

-

17.9

⑦ Hydraulic tools

1,525

0.8

11.2

㉜ Conveyors

839

0.4

-

15.5

7,679

3.9

-

22.5

9.0

8.1

9.7
-

Environmental safety equipment total

35,651

18.2㉕ Protective equipment

18,424

9.4

-

23.2

Disaster and crime prevention

7.1

16.1
2.8

22.5

⑧ Pumps

2,845

1.5

-

16.5

⑨ Welding equipment

1,892

1｡0

-

17.4

㉞ Containers and vessels

3,069

1.6

-

29.3

⑩ Painting and interior goods

1,962

1｡0

-

26.2

㉟ Steel shelves

3,196

1.6

-

26.3

Research management equipment total

7,923

4｡0

⑪ goods

1,820

0.9

-

8. Research management
14.0
equipment⑫ Ladders and stepladders

2,702

1.4

-

22.1

㊱ Tool wagons

688

0.4

-

28.8

3,707

1.9

-

22.8

㊲ Storage and management goods

973

0.5

-

30.2

-

27.0

㊳ Work benches

1,221

0.6

-

32.4

22.0

㊴ Stainless goods

1,535

0.8

-

18.3

-

18.4

Piping and materials of
Component, hardware, and⑭ building materials

6,344

3.2

Work supply total

37,715

19.2⑮ Cutting goods

1,204

0.6

-

21.8

㊵ related goods

3,504

1.8

10.4

Research and development-

4.8

22.9

⑯ Grinding and polishing goods

5,845

3｡0

-

16,948

8.7

19,961

10.2-

23.9 9. Office and housing
facility equipment
20.9

Office and housing facility equipment total⑰ Chemical products㊶ Cleaning utensils

5,117

2.7

-

21.7

⑱ Factory miscellaneous goods

3,519

1.8

-

16.3

㊷ Stationery

2,070

1.1

-

20.0

⑲ Packing and binding goods

4,759

2.4

-

30.9

㊸ Office miscellaneous goods

2,483

1.3

-

27.9

⑳ Casters

2,425

1.2

-

17.9

㊹ Electric appliances

2,548

1.3

-

22.9

Hand tools total

32,936

16.8

19.1㊺ OA business machinery

1,667

0.9

-

23.5

9,655

4.9

-

14.4

㊻ Office furniture

2,846

1.5

-

23.3

㉒ accessories

5,342

2.7

-

18.2

㊼ Interior goods

213

0.1

-

19.0

㉓ Tools for manual work

16,3478.3-

21.2 10. Other㊽ All the other㉔ Tool boxes

1,591

0.8

-

28.8

Total

Electric power tools and㉑ accessories

Pneumatic tools and

12.5

7.0

Points

22.4㉝ Transportation goods⑬ electronic equipment

5. Hand tools

Share

16.6 6. Environmental safety
equipment
12.0

Civil engineering and building

4. Work supply

TRUSCO's
sales

23.0

1,041

0.5

57.2

21.2

196,075

100

8.7

21.1

Sales increased for thefollowing product groups
related to factory
operations:・ Hand tools
YoY change +12.5%
Sales of power tools and hand tools
such as impact wrenches increased

・Work supplies:
YoY change +10.4%
In particular, sales of adhesives,sealants, and tape supplies
increased・ Construction goods:
YoY change +9.7%
Sales of various construction goods
increased･ Cutting tools:
YoY change +9.0%
Sales of various construction goods
increased

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

19

[Non-consolidated] Changes in sales by category of goods (small category)Sales of consumables such as safety shoes, adhesives, and cutting tools, and summer goods increased
On the other hand, there was a lull in demand for fall arrest equipment following last year's revision of the Industrial Safety and
Health Act and novel-coronavirus-related products

+800

+225
+200

+178

+160

+19.9％+50+39.7％+100+25.1％+45.2％+24.1％+382.2％+11.7％+42+49.3％+41+37+18.8％+41.1％

Safety signs+253+17.6％

Impact drivers+262

Lighting equipment+280

Poly bags+318+22.2％+300

Rags+41.9％

Impact wrenches

+408
+400

(Unit: million yen)

Workbenches
for loading

Masking tape

Cooling
garments+463

Evacuation
supplies

Chips

Safety shoes(JPSA)+500

Spot airconditioners

Adhesives

+700

+600

Sealing goods

+755

+36
+23.1％+34+14.3％+0+0△13.9％△26.5％△59.1％△27.5％

△9.9％

△4.5％

△48

△45

△50

△70.7％△42△39△19.4％△34.4％△38△37

Fume collectors★ Respiratory protective
equipment with electric fan

Mesh shelves

Waist belts

Work benches

Single-lens eye protection

Alcohol checkers△285★Hand sanitizers

△613

△62

Power generators

△189
△203

△250

△63

Waist belt-type personal
fall arrest systems～～★ Splash-guard panels～～△21.7％

△58

△91

△111

★General-purpose
face masks△200

Harnesslanyards△150

Harness-type
personal fallarrest systems△100△48.8％

Lanyard for waist belts△48.5％△55.6％△50.1％△43.9％★: COVID-19 related products

20
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

▮ Private brand product share in net sales[Non-consolidated] Sales of private brand (PB) goods

as of the end of September 2023
Production
processing goods
3.5%

Cutting tools 1.5%
Officeand housing
facility
Research equipment
management 9.7%
equipment
7.4%

Although the sales composition of private brand TRUSCO products
and national brand products is on a downward trend due to thedifference in the speed of handling expansion, we are brushing up ourefforts to expand private brand product sales.

Categoryof goods

All sales routes

Factorye-business

Home center
Hand tool
10.1%

Share

18.4%

Share

19.0%

Share

22.4%

Share

4.4%

Gross profit
margin36.4%

Gross profit
margin37.3%

Gross profit
margin34.5%

Gross profit
margin28.9%

Net sales

YoY change

Net sales

YoY change

Net sales

YoY change

Net sales

YoY change

36,087+5.8%

25,393

+3.0%

9,669

+15.0%

773

-2.7%

541

+4.3%

389

+1.9%

92

+17.6%

53+7.4%

Production processing
goods

1,278

+6.0%

901

+2.4%

341

+17.1%

12-8.6%

Construction goods

3,270

+7.4%

2,232

+2.7%

965

+20.0%

45-3.2%

Work supply

6,609+10.5%

5,036

+7.6%

1,455

+22.4%

63+5.5%

Hand tool

3,639+11.1%

2,523

+8.3%

972

+21.8%

83-8.4%

Environmental safety
equipment
Distribution andstorage equipment
Research management
equipment
Office and housing
facility equipment

5,934

+4.5%

4,330

+3.3%

1,446

+7.4%

139

+9.7%

8,647

+2.2%

5,880

-0.5%

2,380

+12.0%

353

-6.8%

2,680

+1.1%

1,822

-4.0%

832

+13.7%

4-14.3%

Total
Cutting tools

Environmental safety
equipment
16.4%▮ Trend in sales of private brand products(unit: million yen) ( ) YoY change
Full year budget
50,000 million yen

43,890(+0.7%)

3,485

+5.7%

2,276

Work supply
18.3%

Distribution andstorage equipment
24.0%▮ Sales by sales route and category of goods
Sales route

Construction
goods
9.1%

+2.6%

1,181

+13.9%

18-8.7%

41,302(-5.9%)

43,445(+5.2%)

45,876(+5.6%)

36,087

2019

2020

2021

2022

2023

3rd quarter
Share

19.9%

19.4%

19.0%

18.7%

18.4%

Gross profit
margin

35.8%

36.4%

36.2%

35.8%

36.4%

21
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Selling, general and administrative
expenses (SGA)

04

Financial and
Other
Performances[Consolidated] Details of selling, general andadministrative expenses (SGA)[Consolidated] Financial statements and financial
indicators[Consolidated] Capital expenditures
Major capital expenditures for the current fiscal year

22
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Selling, general and administrative expenses (SGA)
Freight and packing expenses increased due to an increase in shipment volume, and salaries and bonuses increased, while selling,
general and administrative expenses decreased by 0.6% year on year due to decreases in depreciation and commission fees.
(Unit: million yen)

Freight andpacking expenses+443

Salary and bonus

Depreciation

+107

-299

( ) YoY change

Commission fee-155

FYE December 31, 2022
Third Quarter～
28,621

Selling, general and administrative expenses 28,445 million yen,-176 million yen
・ Freight and packing expenses: +443 million yen, due to increase in shipping volume and transportationcosts* Freight expenses associated with the User Direct Shipment Service are paid by customers.

・ Salaries and bonuses +107 million yen - impact of monthly achievement incentive payment and change
in the number of months for logis-course bonus payment (in the previous fiscal year, approximately
500 million yen was paid as a temporary bonus to support livelihood)・ Depreciation: -299 million yen, due to expiration of amortization period of software
・ Commission fee: -155 million yen...Impact of initial costs related to the HACOBUne concept, etc.
・ Other: -272 million yen, due to effect of deduction of SGA expenses for catalog and web posting fees
* The difference as of the end of the quarter for FYE December 31, 2022 is due to the lump-sum recording in the
fourth quarter.

Other

-272

FYE December 31, 2023
Third Quarter

28,445(-0.6%)～

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

23

[Consolidated] Details of selling, general and administrative expenses (SGA)(Unit: million yen)
Fiscal Year Ending December 2023
Third Quarter

FYE December 31, 2022

No.

Actual results

1 Salary and bonus
2 Freight and packing expenses
3 Depreciation
4 Commission fee
5 Welfare expense
6 Taxes and dues
7 Provision for bonuses
8 Advertising expenses

Traveling expenses and transportation
expenses
10 Supplies expenses
9

11 Utilities expenses
12 Communication expenses
13 Leasehold and office rents
14 Remuneration paid to directors
15 Vehicle expenses
16 Promotion expenses
17 Entertainment expenses
18 Other
Total

Share in net sales

Actual results

Share in net sales

FY 2023 Full Year
BudgetChange from previous
periodFull year budget andYoY change inperformance

YoY change

13,036
7,630
6,667
2,638
2,343
1,416
8
505

5.3%
3.1%
2.7%
1.1%
1.0%
0.6%
0.0%
0.2%

9,048
6,065
4,720
1,905
1,800
1,002
964
467

4.6%
3.1%
2.4%
1.0%
0.9%
0.5%
0.5%
0.2%

+107
+443
-299
-155
+30
-35
+22
+75

+1.2%
+7.9%
-6.0%
-7.5%
+1.7%
-3.4%
+2.4%
+19.2%

13,592
8,366
6,402
2,602
2,414
1,330
264
585

+4.3%
+9.7%
-4.0%
-1.4%
+3.0%
-6.1%
+3,111.6%+15.8%

543

0.2%

423

0.2%

+13

+3.2%

547

+0.9%

434
537
434
357
401
283
316
42
-104

0.2%
0.2%
0.2%
0.1%
0.2%
0.1%
0.1%
0.0%
0.0%

409
363
318
270
222
216
198
81
-33

0.2%
0.2%
0.2%
0.1%
0.1%
0.1%
0.1%
0.0%
0.0%

+86
+36
-8
+0
+9
-1
-82
+51
-468

+26.6%+11.2%
-2.5%
+0.0%
+4.6%
-0.9%
-29.4%+172.9%
ｰ

520
552
432
358
432
294
229
129
-17

+20.0%
+2.8%
-0.5%
+0.1%
+7.5%
+4.0%
-27.6%+205.0%ｰ

37,49315.2%

28,445

14.5%

-176

-0.6%

39,040+4.1%

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

24

[Consolidated] Financial statements and financial indicators
Balance Sheet
As of September 30, 2023

(Unit: Million yen)

Item
AmountItem
Amount(Assets)(Liabilities)
49,987
Current assets
124,927 Current liabilities
Cash and deposits
19,62939,094 Accounts payable - trade
Accounts receivable
10,00032,044 Short-term borrowings
Electronically recorded monetary claims
Long-term borrowings scheduled to be
8,500
2,410
- operating
repaid within one year
Merchandise
6,389
50,364 Accounts payable - other
Other
2,271
1,014 Income taxes payable
Allowance for doubtful accounts
974-1 Provision for bonuses
Provision for bonuses for directors (andNon-current assets
99
111,396 other officers)
Property, plant and equipment
2,123
103,359 Other
29,04446,544 Non-current liabilities
Buildings (net amount)
26,0006,861 Long-term borrowings
Machinery and equipment (net amount)
Provision for retirement benefits forTools, furniture and fixtures (net
151
1,267
directors (and other officers)
amount)2,798
38,775 Long-term guarantee deposits
Land93
7,973 Other
Construction in progress
1,936 Total liabilities
79,031Other (net amount)
4,109 (Net assets)
Intangible assets
Software2,794 Shareholders' equity
156,452
Other
1,314 Capital stock
5,022
Investments and other assets
3,928 Capital surplus
4,711
Investment securities
2,977 Retained earnings
146,798
Deferred tax assets
444 Treasury shares-80
Accumulated other comprehensive
Deferred tax assets for land revaluation
155 income
157,292
Valuation difference on available-for-saleOther
488 securities
588
Allowance for doubtful accounts-138 Revaluation reserve for land-353
Foreign currency translation adjustment
605
Accumulated other comprehensive
840
income total
Total net assets
157,292
Total assets
236,323
236,323 Liabilities / Total net assets

We promote "Ownership Management," believing that owning our own
distribution centers, branch office buildings, data centers, and vehicles,
which are the main arteries of corporate management, will bring thegreatest benefits.

(Unit: million yen)

Statement of cash flows
Q3 of FY 2022

Q3 of FY 2023

ChangeCash flows from operating activities

9,078

9,063

-15

Cash flows from investing activities-4,430-6,163-1,733

Cash flows from financing activities-2,109-3,562-1,453

104

83

-20

Net increase (decrease) in cash and cash equivalents

2,643

-578

-3,222

Cash and cash equivalents at beginning of period

41,44939,400-2,049Cash and cash equivalents at end of period

44,09338,822-5,271

Effect of exchange rate change on cash and cash equivalents

Equity ratio
End of FY 2022
Equity ratio

Q3 of FY 2023

Change (pt)

67.1%

66.6%

End of FY 2021

End of FY 2022

-0.5

Other financial indicators
Change (pt)

ROA (Return on Assets)

6.3%

6.7%

+0.4ptROE (Return on Equity)

8.4%

7.2%

-1.2pt<Our Approach to ROE>
We believe it is important to expand profits and ensure long-term, stable increase by making continuous
investments to enhance corporate value. We believe that ROE should increase as a result of our business where
we place importance on improving the convenience of our customers.

25
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Capital expenditures
Major capital expenditures and plans(Unit: million yen)

Details of major capital expenditures in 2023

Actual investment
in Q3 FY 2023

Planned investment
in Q4 FY 2023

3,713

4

1,268

1,596

5,169

1,868

10,1503,468

Advance order for installation of distribution equipment and facilities at Planet Aichi (Total expected expenditures: approx. 9,500 million yen) [1H results:
approx. 2,300 million yen]

Distribution
equipment

Planet Higashi Kanto: 2nd automated pallet warehouse (total investment: 2,700 million yen) [Q3 actual results: approx. 600 million yen]

Sakai Stock Center: Automated pallet warehouse (total investment: 1,800 million yen) [Q3 actual results: approx. 500 million yen], etc.
Construction of product database "Sterra2.0" (planned total investment: approx. 800 million yen) [Q3 actual results: approx. 700 million yen, planned Q4:
approx. 100 million yen]

DigitalEnhancement of core system "Paradise", etc., (planned total investment: approx. 300 million yen) [planned amount for Q4: approx. 300 million yen] , etc.
Honmachi Central Building renovation costs (total planned investment: approx. 1,600 million yen) [Q3 results: approx. 800 million yen]

Buildings

Planet Aichi new construction project: (total planned investment: approx. 17,600 million yen) [Q3 results: approx. 4,100 million yen, Q4 planned amount:approx. 1,300 million yen], etc.

Subtotal

13,618Annual capital expenditures

Change in capital expenditures
19,700 million yen
35
39

Expected
expenditures
13,618 million yen

Distribution equipment
Digital
Buildings

8,000
million yen

8,700
million yen
7
7

123

37

4,700
million yen

59

7
73

11

5
15

2019

2020

29

70

28

2021

2022

<Capital expenditures>
・ The investment amount may fluctuate as the planned amount of capital expenditures includes
expenses for projects at the planning stage.
・ The figures for the 61st business year represent values on a cash-out basis.

2023 Plan

26
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Major capital expenditures for the current fiscal year
Planet Higashi Kanto
automated pallet warehouse

Sakai Stock Center

Planet Aichi
Opening in 2026!

1st automated pallet warehouse

2nd automated pallet warehouse

Location: Matsudo, Chiba Prefecture

Location: Sakai, Osaka Prefecture

Location: Kitanagoya, Aichi Prefecture

Operation: March 2023

Operation: April 2023

Completion: January 2025
Operation: July 2026 scheduled

Site area: 14681 sqm (Planet Higashi Kanto)
Total floor area: 29706 sqm (Planet Higashi Kanto)

Site area: 3,303 sqm
Total floor area: 4,641 sqm

Total investment amount: approx. 2,680 million yen(investment for 61st business year: approx. 600 million
yen)

Total investment amount: approx. 1,830 million yen(investment for 61st business year: approx. 500 millionyen)

By setting up an automated pallet warehouse in the newarea, we will be able to store an additional 4,556 pallets,
and strengthen our instant delivery system throughenlarging our product range.

By setting up an automated pallet warehouse, we will
be able to store 3,304 pallets and strengthen our
instant delivery system through improving ourinventory storage capacity.

Site area: 41636 sqm Total floor area: 88579 sqm
Design and construction: Taisei Corporation
Total investment amount: approx. 30,000 million yen(planned) (planned amount for 61st business year:
approx. 7,800 million yen)
We aim to create a highly efficient distribution center bystrengthening our product lineup (1 million SKUs) andproviding the “fastest,” “earliest,” and “best” service.

27
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

05

DigitalVarious key
indicators

Logistics

Merchandise
Sales

Human resources

28
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (digital)

Key indicatorsFYE December 31, 2023
Third Quarter

FYE December 31, 2022

Plan for FYE December 31,
2023

Since launching our Internet ordering system"Web Trusco" in 2002, we have been

DigitalRate of automatedquotations (%) *1

22.6

Rate of online quotation
requests (%)

46.0

System order rate (%) *2

85.2

27.1

28.0

automating ordering. Additionally, startingwith the launch of our core system "Paradise

46.9

50.0

3" in 2020, we are striving to improve
convenience with the aim of automating all

86.7

86.0

tasks that can be automated in the supply
chain.

*1 Total number of quotations (cumulative total for Jan-Sep 2023): 6.55 million*2 Total number of orders (cumulative total for Jan-Sep 2023): 30.06 million
System order rate (as of the end of September 2023)
Order type

TRUSCO Orange Book.Com
Internet ordering (for distributors and users)
TRUSCO EDI
Data linkage with distributor ordering system

Number of orders(thousand lines)

11,661
7,004

Line share

38.8%
23.3%

Change inshare fromthe previous
fiscal year (pt)

±0.0
+1.6

Order value(million yen)

85,18727,881Price share

43.4%
14.2%

YoY change
in price share
(pt)

+1.3
+0.6

Orange Commerce
Linkage with users' purchasing system

783

2.6%

+0.2

5,747

2.9%

+0.3

EOS
Home center electronic ordering system

6,612

22.0%

-0.2

15,965

8.1%

+0.2

Total

26,061

86.7%

+1.6

134,781

68.7%

+2.5

▮ AI-based estimation system "Swift Estimator"[Automated estimate rate: 22.6%]
Automated quotations with AI
One of our challenges is how to respond quickly to theaverage of 30,000 quotation requests we receive from ourclients each day. In response, the company introduced "Swift
Estimator," an AI-based automatic quotation response
system, to promote the automation of quotations throughspecial price optimization that automatically calculates
appropriate prices for products on a regular basis based on
actual orders and quotations. This has led to an improvementin the speed of response to customers (minimum 5 seconds).
(Automated estimate rate: 22.6% (as of December 31, 2022))

AI-based comment analysis
Data analysis of actual
resultCustomer requests a quote

Data analysis

Quotation response

Receive a quotation
response in seconds.

29
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (goods)
Key indicators
No. of items featured on
TRUSCO Orange Book.Com(10,000 items)
Total number of suppliers

FYE December 31, 2023
Third Quarter

FYE December 31, 2022

Plan for FYE December 31,
2023

316

383

420

3,272

3,462

3,470

[Non-consolidated] Change in salesof newly listed goods on TRUSCO
Orange Book.Com in company-wide
sales

3,500

Of these, number ofoverseas suppliers

329

335

3,272

350

2,966
3,000

Number of manufacturers
listed in the TRUSCO Orange
Book

Merchandise

Number of items listed in the
TRUSCO Orange Book

2,152

2,152

2,320

2,652
2,477

2,537

2,458

2,500

374,000

374,000

374,000

2,142
1,950

374,000

Number of items in inventory

562,026

374,000

102

2,000

96

Number of items listed in the
TRUSCO Digital Orange Book

2,204

444,000

2,040

84
2,120

88

2,132

2,370

84
2,047

1,854
1,500

574,976595,000
1,000

Of these, goods automaticallyadopted (items)★
Private brand productdevelopment, number ofbrush-ups
Total number in stock(10,000s)
Inventories (100 million yen)

26,10936,10841,000

-

ｰ

1,000

Sales of newly listed goods (100 million yen)

500

Sales of previously listed goods (100 million yen)
Number of suppliers
0

5,319

5,553

5,600

452

503

-

2018

2019

2020

2021

2022

★ A system is in place for automatic stocking of hot-selling items based on sales performance data.

30
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (sales)
Trends in the number of MRO
stockers installed and sales
Key indicatorsFYE December 31, 2022

FYE December 31, 2023
Third Quarter

Plan for FYE December 31,
2023

Sales

Number of corporate clients

5,575

5,608

5,630

Number of client accounts

31,61432,75232,500No. of companies connectedto Orange Commerce

2,233

2,327

2,600

No. of companies adopting
MRO Stocker

775

1,060

1,000

Number of sales (millions)

225

167

242

1060

775

329
194

238

66
2021

2022

2023
Q3

Net sales (million yen)[Consolidated] Change in number of sales accounts and companies
35,00032,752

Number of accounts

29,561

30,00025,00026,327

27,14026,16826,8819,000- Merits -8,000Management

27,55023,6837,000

20,000
5,447

5,415

5,348

5,333

5,323

5,592

5,608
5,515

5,527

5,575

15,00010,000No. of companies installing MRO Stocker

31,614

Number of companies

25,466

10,000

6,000

cost

0 yen

Delivery0 min.

Waste

0

5,000
2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Consolidated

Consolidated

Consolidated

Consolidated

Q3
consolidated

4,000

31
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (logistics)
Key indicatorsFYE December 31, 2022

FYE December 31, 2023
Third Quarter

Logistics

No. of direct shipments to users(10,000s)

355

343

440

No. of direct shipments to users(10,000s)

437

420

540

Labor cost per incoming/outgoingshipment (yen)

113

116

108

Share by Delivery Category (by number of shipments)
Distributor visits
0.8%

2022
3rd quarter

Plan for FYE December 31,
2023

Delivery to
distributors
69.2%

User visits0.3%

To users
Routeshipments
11.4%

Route shipments
to distributors
18.3%

3rd quarter

Delivery to
distributors
65.5%

Route shipments
to distributors
18.0%

Cut delivery times by half
Cut shipping load by half
Cut workload by half
Cut packaging materials by half
Cut environmental impact by half

No. of direct shipments (10,000s)
No. of direct shipments (10,000s)

Net
sales
(100
millionyen)

2023- Merits -Changes of the User Direct
Shipment Service(Note)To users
Routeshipments
15.5%
2019

Distributor visits 0.7%
User visits 0.3%

2020

2021

2022

2023
(Plan)

I-Pack®
[High-speed automated packaging
and shipping line]
Shipping capacity: 720 cs/h per line,
approx. 24 workers
I-Pack introduced to:Planet Tohoku,
Planet Saitama (3 lines)
Planet Tokai
Planet Osaka
Total 6 lines* One line is scheduled to be introduced
to Planet Higashi Kanto in 2024.

32

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (logistics)
Key indicatorsFYE December 31, 2022

FYE December 31, 2023
Third Quarter

Plan for FYE December 31,
2023

Logistics

Inventory shipment
rate (%)

91.7

92.0

92.0

Number of charteredvehicle deliveries

162

158

150

Number of own
company deliveries

116

118

600,000
124

Rate of own company
deliveries (%)

41.7

42.8

45.7
500,000

20 hours 10 minutes
4 seconds

19 hours 14 minutes
46 seconds

Delivery lead time*

Changes in number of inventory items andinventory shipment rate (instant delivery rate)

90.5

91.0

91.3

91.7
562,026

92.0
574,976

499,964

442,436ｰ

400,000

392,100* Companywide, including primary + secondary provision and beyond, average of morning and afternoon deliveries
Delivery service and internaltransportation service: Number of units
300,000[Non-consolidated] Changes in inventory disposal andinventories
Change fromNo. of units

the end of
previous fiscal
year

276

-2

Chartered vehicle delivery service(contracted delivery service)

158

-4

Own company delivery service

118

+2

32

+2

0

Chartered vehicle delivery service(contracted delivery service)26±0

Own company delivery service

6

+2

308

±0

DeliveryWe are reviewing delivery and internal transportation services to optimize thenumber of units by streamlining delivery routes and internal movement of
inventory. We are also increasing the number of own company delivery
services (delivery by the Company's employees) to improve customer
service. The current own company delivery rate is 42.8%. We plan toincrease this to 50% in 2024.

Total number of deliveries

Internal transportation service

Delivery service and internaldelivery service Total

2018

2019

2020

2021

2022 200,000

Inventory disposal(million yen)
Inventories(100 million yen)

39

42

50

55

65

370

427

406

416

441 100,000

Disposal rate (%)

0.11

0.10

0.12

0.13

0.15

Number of items in inventory

Inventory shipment rate (%)

2019

2020

2021

2022

2023
Q3

33
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Key indicators (human resources)
Number of Employees [Consolidated]
As of FYE September 30, 2023 (Unit: persons)Female

Male

Total

YoY change

Executives

1

11

12

+2

Executive officers

0

0

0

-1

Career (overseas anddomestic)

153

413

566

-12

Digital career

0

0

0

±0

Logistics career

0

1

1

+1

Carrier (regional)

13

12

25

+17

Specialist

11

14

25

-1

Average age and annual income
Averageage (years)
平均年齢（歳）
Female女

Male
男

Entire全体
company

令和４年
2022（2022）

33.0

43.4

39.8

771

令和３年
2021
（2021）

32.8

43.2

39.6

令和２年
2020
（2020）

32.1

41.9

令和元年
2019
（2019）

31.3

平成30年
2018
（2018）

30.9

Area

295

286

581

-17

Expert

1

0

1

+1

Logistics area

3

28

31

+9

Logistics

97

255

352

+12

Contract employees

1

42

43

+5

Overseas subsidiaries

19

23

42

-2

2

0

2

±0

0

1

1

±0

Employee total

595

1,075

1,670

+17

Part-time employees

983

360

1,343

+19

No. of employees

Total

1,579

1,446

3,025

+38

No. of incoming
employees

Seconded to healthinsurance association
Seconded to Nakayama
Visually Impaired Welfare
Foundation

Share of female employees: 35.6%, Number of female sales staff members: 44,
Female employees in career-track positions: 28.0%* The number of part-time employees represents the actual number of such workers
under employment.

* The total average annual income includes
executive officers and excludes financial
bonds provided as retirement benefits.
* The payment of performance-based
bonuses commenced in FY2014. In 2019,
they were discontinued, and bonuses
decreased.
* Consolidated accounting has been applied
to the fiscal year ended Dec. 2019 andlater fiscal years. From the fiscal year
ended Dec. 2019 onwards, the average
age figure is on a consolidated basis,
whereas all the average annual income
figures are on a nonconsolidated basis.
* The average annual income for 2022
includes the temporary bonus paid tosupport living expenses due to the soaring
costs of goods.

Average平均年収（万円）
annual income (10,000 yen)
Logistics
ロジス

Entire全体
company

633

494

661

724

596

456

615

38.4

721

601

461

619

42.0

38.2

758

642

492

655

42.1

38.2

804

680

520

701

Career
Area
キャリア
エリア

Numbers of incoming and outgoing employees [Consolidated]
2019
FemaleNo. of outgoing
employees
Turnover ratio (%)

Male

585
1,071
1,656
52
57
109
42
44
86
6.7
3.9
4.9

2020
Female

Male

589
1,085
1,674
41
46
87
37
33
70
5.9
3.0
4.0

2021
Female

2022

Male

571
1,061
1,632
26
25
51
45
45
90
7.3
4.1
5.2

Female

Male

577
1,062
1,639
47
51
98
39
44
83
6.3
4.0
4.8

End of September
2023
Female

Male

595

1,075
1,670

58

55
113

40

38
78

6.3

3.4
4.5

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

34

06
Management
Plan[Consolidated] About the 61st business year full-year
budget[Consolidated] Quarterly business performance andbudget (quarterly)[Consolidated] Quarterly business performance andbudget (cumulative)

Vision - Capacity targets -35
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] About the 61st business year full-year budget▮ Plan for FYE December 31, 2023
FYE December 31, 2023
Initial budget

FYE December 31, 2023
Plan

Share

Year-on-yearchangeShare

Net sales

265,090 million yen

ｰ266,080 million yen

ｰ

+8.0%

Gross profit

55,350 million yen

20.9%

56,970 million yen

21.4%

+9.2%

Selling, general andadministrative expenses (SGA)

39,650 million yen

15.0%

39,040 million yen

14.7%

+4.1%

(Depreciation included in SGA)

6,397 million yen

2.4%

6,402 million yen

2.4%

-4.0%

Operating income

15,700 million yen

5.9%

17,930 million yen

6.7%+22.2%

Ordinary income

15,970 million yen

6.0%

18,220 million yen

6.8%+20.9%

Profit attributable to parent

10,920 million yen

4.1%

12,190 million yen

4.6%+14.7%

41.50 yenｰ

46.50 yenｰ

+6.50 yen

Dividend per share

On August 10, 2023, we decided to revise our earnings forecast and dividend forecast.
Sales have been revised upward by adding the first half results (approximately 1,000 million yen higher) to the initial budget.
Regarding gross profit, we have taken into consideration the recording of approximately 500 million yen in inventory valuation gains,
and we have changed selling, general and administrative expenses based on the results for the first half of the year.
36
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

[Consolidated] Quarterly business performance and budget (quarterly)

FYE December 31, 2023 Third Quarter [Quarterly](Unit: million yen)

1st Quarter (+2 days)
第1四半期（＋２日）
Budget and actual
予算/実績
results
Budget
予算

Net sales
売上高

Actual
実績
results
Budget
予算

Gross profit
売上総利益

Selling, general andadministrative expenses
販売費及び一般管理費(SGA)

Actual
実績
results
Budget
予算

Actual
実績
results
Budget
予算

Operating income
営業利益Actual
実績
results
Budget予算

Ordinary income
経常利益

Quarterly profit attributable
親会社株主に帰属する
to owners of parent
四半期/当期純利益

Actual
実績
results
Budget
予算

Actual
実績
results

Share
構成比

2nd Quarter (+1 day)
第2四半期（＋１日）

YoY change
前年同期比Budget and actual
予算/実績
resultsShare
構成比

3rd Quarter (±0 day)
第3四半期（±０日）

YoY change
前年同期比Budget and actual
予算/実績
results

Share
構成比

4th Quarter (±0 day)
第4四半期（±０日）

YoY change
前年同期比Budget and actual
予算
results

Share
構成比

YoY change
前年同期比65,925

100.0

+7.8

64,535

100.0

+ 8.4

64,898

100.0

+ 7.7

69,735

100.0

+ 6.4

65,983

100.0

+7.9

65,407

100.0

+ 9.9

65,193

100.0

+ 8.2

-

-

-

13,65320.7+6.0

13,378

20.7

+ 7.1

13,480

20.8

+ 8.9

15,336

22.0

+ 6.5

13,23420.1+2.7

14,95322.9+ 19.7

13,419

20.6

+ 8.4

-

-

-

9,714

14.7

+3.4

10,209

15.8

+ 1.6

9,746

15.0

+ 6.2

10,25814.7+ 15.6

9,319

14.1

△0.8

9,712

14.8

△ 3.4

9,413

14.4

+ 2.6

-

-

-

3,939

6.0

+12.9

3,169

4.9

+ 29.6

3,734

5.8+ 16.7

5,078

7.3

△ 8.2

3,915

5.9

+12.3

5,240

8.0

+ 114.3

4,005

6.1

+ 25.1

-

-

-

3,981

6.0

+8.4

3,239

5.0

+ 30.83,789

5.8+ 16.5

5,184

7.4

△ 8.5

3,972

6.0

+8.2

5,296

8.1

+113.93,946

6.1+ 21.3

-

-

-

2,719

4.1

+7.3

2,213

3.4

+ 29.02,595

4.0+ 16.93,550

5.1△ 14.6

2,675

4.1

+5.6

3,390

5.2

+ 97.6

2,702

4.1+ 21.7---* The budgets for the first and second quarter are based on the budget at the beginning of the period, and the budgets for the third and fourth
quarter are based on the revised budget announced on August 10.
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

37

[Consolidated] Quarterly business performance and budget (cumulative)FYE December 31, 2023 Third Quarter [Cumulative](Unit: million yen)

1st Quarter (+2 days)
第1四半期（＋２日）
Budget and actual
予算/実績
results
Budget
予算

Net sales
売上高

Actual
実績
results
Budget
予算

Gross profit
売上総利益
Selling, general andadministrative expenses
販売費及び一般管理費(SGA)

Actual
実績
results
Budget
予算

Actual
実績
results
Budget
予算

Operating income
営業利益Actual
実績
results
Budget予算

Ordinary income
経常利益

Quarterly profit attributable
親会社株主に帰属する
to owners of parent
四半期/当期純利益

Actual
実績
results
Budget
予算

Actual
実績
results

Share
構成比

2nd Quarter (+3 days)
第2四半期（＋３日）

YoY change
前年同期比Budget and actual
予算/実績
resultsShare
構成比

3rd Quarter (+3 days)
第3四半期（＋３日）

YoY change
前年同期比Budget and actual
予算/実績
results

Share
構成比

year (+3 days)
通Full期（＋３日）

YoY change
前年同期比Budget and actual
予算
results

Share
構成比

YoY
change
前年比65,925

100.0

+7.8

130,460

100.0

+8.1

196,345

100.0

+ 8.5

266,080

100.0

+ 8.0

65,983

100.0

+7.9

131,390

100.0

+8.9

196,583

100.0

+ 8.7

-

-

-

13,65320.7+6.0

27,031

20.7+6.5

41,63421.2+ 10.356,970

21.4

+ 9.2

13,23420.1+2.7

28,188

21.5

+11.1

41,60721.2+ 10.2

-

-

-

9,714

14.7

+3.4

19,92315.3+2.5

28,782

14.7

+ 0.6

39,040

14.7

+ 4.1

9,319

14.1

△0.8

19,03114.5△2.1

28,445

14.5

△ 0.6

-

-

-

3,939

6.0

+12.9

7,108

5.4

+19.8

12,852

6.5+ 40.7

17,9306.7+ 22.2

3,915

5.9

+12.3

9,156

7.0

+54.3

13,1626.7+ 44.1

-

-

-

3,981

6.0

+8.4

7,220

5.5

+17.4

13,036

6.6+ 38.7

18,2206.8+ 20.9

3,972

6.0

+8.2

9,269

7.1

+50.8

13,215

6.7+ 40.6

-

-

-

2,719

4.1

+7.3

4,932

3.8

+16.0

8,640

4.4

+ 33.5

12,1904.6+ 14.7

2,675

4.1

+5.6

6,066

4.6

+42.7

8,768

4.5

+ 35.5---* The budgets for the first and second quarter are based on the budget at the beginning of the period, and the budgets for the third and fourth
quarter are based on the revised budget announced on August 10.
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

38

“Vision” - Capacity targets -01

We want to be a company that can hold 1 million
items in inventory by 2030.

Location: Kitanagoya, Aichi Prefecture06

Completion: January 2025
Operation: July 2026 scheduled
Site area: 41636 sqm Total floor area: 88579 sqm
Design and construction: Taisei Corporation
Total investment amount: approx. 30,000 million
yen (planned) (planned amount for 61st businessyear: approx. 7,800 million yen)

We want to be a company that can respond toquotations instantly.
(Automated estimate response rate as of
September 30, 2023: 27.1%)
We want to be a company that can achieve

07 the "fastest," "shortest," and "best"deliveries in the industry.

We want to be a company with the smallest

08 possible environmental impact.

02

We want to be a company that can take orders
24 hours a day and ship 365 days a year.

03

We want to be a company without productshortages, incorrect orders, or incorrect shipments.

(Repair workshop "Naojiro" FY2022 results: 1,817
million yen)04

We want to be a company without inventory work.
(Inventory variance ratio at the end of 2022: 0.43%)

10

We want to be a platform operator that
supports Japanese manufacturing.

05

We want to be a company that can ship directly tousers without stress, even if we are a wholesaler.

11

We want to be a company that can rewrite theconventional thought, customs, set theories, andplaybook of the industry.

We want to be a company that is active in09 recycling, reuse, and returnables.

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

39

07
ESG Information

TRUSCO's "Gentleness for the Future" Project
Sustainability indicators
Other environmental measures and initiatives

Relationship with society & corporate
governance40
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

TRUSCO's "Gentleness for the Future" Project

TRUSCO's "Gentleness for the Future" Project
We have been making various environmental efforts under our environmental philosophy "Gentleness for the Future"since 1998, based on our desire "to be a global environment-friendly company so that our small efforts will lead togreat compassion for the future."
The idea of connecting the global community to the future has been ingrained in the company for more than 20 years
before the term "sustainability" became popular.
Until now, "Gentleness for the Future" has only referred to the environment. From now on, as part of TRUSCO's"Gentleness for the Future" Project, we will work toward the future of people and society, including the global
environment.
Scan here
for details"Gentleness for the Future" Basic Policy - TSV
Under the motto, "Business must serve people and society," the Company will create both social value andcorporate value (TSV*) through its businesses to help resolve social issues and build sustainable local communities.

* The term TSV was created by combining TRUSCO and Creating Shared Value (CSV).

Based on this basic policy, we will continue our efforts toward the future of people and society.
41
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Sustainability indicators
CO₂ emissions (as of the end of 2022)
CO₂ emissions from fuel use (Scope 1) 2,327t-co₂ / CO₂ emissions from electricity use (Scope 2) 8,109t-co₂
CO₂ emissions in the supply chain (Scope 3 * ) 1,724,759t-CO₂* Only Scope 3 results are for 2021.

▮ CO₂ emission reduction through various services:

Annual CO₂ emission reduction

12,781t-CO₂
Reduction(t-co₂)

Assortment and direct
delivery to users

MRO Stocker

Reduction calculation formula

Packaging material
usage halved

Packaging material
waste halved

Delivery frequency
reducedDelivery frequency
halvedNo purchasing

Workshop

NaojiroRepair workshop"Naojiro"

Fixed cost logistics(fixed route deliveries)

Wide range of
inventory

Emissions from newpurchases

No packaging
materials used

Emissions when repaired with “Naojiro”

No packaging
material waste

Delivery distance
reduced42
Emissions when each shipment ismade from a supplier to a distributor

Emissions when shipped in bulk as
Trusco inventory

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Sustainability indicators
Workshop

TRUSCO power generation installations (solar and wind power)
at 19 locations
Annual power generation in 2022 2,653,344kWh* Equivalent to the annual electricity consumption of about 600 households(From the Ministry of the Environment's website Survey on the Actual
Conditions of Carbon Dioxide Emissions from Residential Sector")

Renewable energy power self-sufficiency

16.4%

Environmental measures for TRUSCO’s products
We have established environmental standards in product planning and development, andare promoting environmentally friendly product development from all aspects, from productdesign to product use and disposal. For existing products, we are also working to improveloading efficiency and reduce the resources used for containers and packaging.

NaojiroRole of repair workshop "Naojiro"

It is a service that maintains the safety and precision essential for pro
tools, and aims to reduce the environmental impact and contribute tocost reduction by allowing familiar tools and equipment to be used for along time. In January 2022, the Company will relaunch its Naojiro section
to popularize and enhance this service.
8 services of repair workshop "Naojiro"
RepairRegrinding

Calibration

Reuse

Processing

Maintenance

Assembly

Construction
and installation

Sales of repair workshop "Naojiro"
Budget2,000

TRUSCO Air Forest For Factory
Product number: AFF250 etc.
This is an air freshener for factories. It eliminatesodor components found only in factories, such as
the odor of deteriorated cutting oil. Formulatedwith "functional tree extracts" that are effectively
taken from thinned wood found in the Sakhalin fir
forests of Hokkaido, this product helps to create a"recycling-oriented society" by making use ofunused thinned wood that is left behind in theforests.
2019

2020

2021

2022

2023 3Q

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

43

Other environmental measures and initiatives
When it comes to environmental initiatives, it is important to consider "when they started being implemented.”
Over 20 years ago, the Company began carrying out environmental initiatives based on the idea of"Gentleness for the Future." The initiatives covered a wide range of areas, from the office building toindividual employees, business measures, and product development.

Facilities

PeopleInstallation of ceiling fans

Air well voids

Fleece jumpers (2002)

Fluorescent lights with motion sensors

Sandwich panels

GORE-TEX jumpers (2002)

W-folded plate roof

Sprinkling well water on the roof (2007)

Neck warmers, lap blankets (2012)

Use of underground cool air

Installation of solar panels (1998)

Turning air conditioning off 30 minutes
before leaving work

Measures

Merchandise

Reducing overtime by inventorying items

FAX OCR "DOTKUL" (2000)

2 inch paper tube tape

Abolishing receipts for goods (2001)

System orders (2002)

No-gas sprays

Inventory for manufacturers’ catalogs

Abolishing printing of picking lists (2012)

Return cushions
44
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Relationship with society & corporate governance“TRUSCO Unknown Gulliver”, TV program provided
by a single company
This is a program provided by a single company that conveys our company's
desire to "give pride and vitality to Japan by presenting world-class Japanesecompanies.” In each episode, the ways and ideas of a Japanese company arepresented.
Started in 2017

Open judge system (OJS = 360 degree evaluation)
This is our company's unique evaluation system, in which employees areevaluated not only by their superiors, but also by colleagues and subordinates.
The purpose is to give feedback in evaluation comments that will lead tobehavioral changes in each employee.
Type

Frequency

Operation details

Employeeevaluation
OJS

Twice ayear

An OJS evaluation will be conducted on an employee
among other employees who work in the same workplace(superiors, colleagues, subordinates), then the results will
be reflected in that employee’s evaluation

Started in 2003

Promotion
OJS

Once ayear

All employees who know that employee will evaluate
him/her, then the results will be reflected in how he/she ishandled going forward (receiving a promotion, etc.)

Started in 2001

* All full-time and part-time employees, excluding executives, are subject to evaluation.

Board of directors meeting (management meeting)Decisions are made at the board of directors meeting, which is generally
held once a month. In order to ensure a broader perspective andtransparency, we seek the opinions of a wide range of participants, including
executive officers and general managers.

Donations to the NGO Peshawar-kai
Started in 2020
In Afghanistan, where there is an ongoing drought,
we are donating to support the Peshawar-kai,
which engages in comprehensive ruralreconstruction projects with the idea that “oneirrigation canal will do more good than 100
doctors”.

The late Dr. Tetsu Nakamura
with Afghan workers

Board of directors meeting(management meeting)in November 2022
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

45

08
Reference
Information

Stock information
Index comparison in the industry
The Company's sales index and industrial
production index

46
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Stock information
Shareholder Information (Unit: persons)
令和２年
End of（2020）
December 2020
12月末

令和３年
End of June
（2021）
2021
6月末

令和３年
End of（2021）
December 2021
12月末

令和４年
End of June
（2022）
2022
6月末

令和４年
End of（2022）
December,
12月末
2022

令和５年
End of June
（2023）
2022
6月末

Shareholders
total
株主合計

16,336

14,903

14,406

16,212

15,46615,111

Holder of share
単元株主

15,514

14,03013,527

15,19014,436

13,798Holderof shares less than one unit
単元未満株主

821

872

878

1,021

1,029

1,312

Treasury shares
自己名義株式

1

1

1

1

1

1

Financial institutions and securities
金融機関・証券会社
companies

65

69

61

59

55

53

Domestic
corporations
国内法人

553

544

533

546

540

542

Overseas
corporations, etc.
外国法人等

201

203

203

212

222

217

Individuals
and others
個人その他

15,516

14,086

13,60815,394

14,64814,298Treasury shares
自己名義株式

1

1

1

1

1

1

Change in stock price index

TRUSCO
Nakayama(2,450 yen)
387.7
Nikkei Stock
Average(31,857.62 yen)
312.4
TOPIX
(2,323.39pt)
257.8

The Company's Stock
Closing price
2,315 yen
Nikkei Stock Average
Closing Price
31,259.36 yen
TOPIX2,255.65pt

January 2010
Movements of each indicator are quantified with the figures in January 2010 set as 100.

Friday, October 20, 2023

47

September 2023
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

Index comparison in the industry
Performance of trading companies and direct sales companies (listed companies) in the same industry[Wholesale]
Closing month
YAMAZEN CORPORATION

2023

YUASA TRADING CO.,LTD.

2023

2023

MARUKA FURUSATOCORPORATION

2022

Naito & Co., Ltd.

2023

SUGIMOTO & CO., LTD.

2023

527,263

+5.1

1,136

504,806+9.1

901

246,453

+8.6

1,528

131,609+6.2

823

162,416

ｰ

692

44,457+1.9

79

45,558+5.7

244

1,662,562

ｰ

-

March

TRUSCO Nakayama Corporation 2022
NICHIDEN Corporation

Net sales (million yen)

Actualresults
ActualMarch
results
ActualDecemberresults
ActualMarch
results
ActualDecemberresults
ActualFebruary
results
ActualMarch
results

Total of 7 companies-

Marketcapitalization(100 million yen)

Year-on-yearchangeTrading companies in the machine tools industry include
the companies shown on the left, but they operate
differently in the wholesale and retail sectors, and eachhandles different core products.
The Company does not handle large machinery such asmachine tools, and mainly handles consumables.

[Retail]
Closing month
Net sales (million yen)

Marketcapitalization(100 million yen)

Year-on-yearchangeMISUMI Group Inc.

2023

March

Actualresults

373,151

+1.9

6,642

MonotaRO Co.,Ltd.

2022

December

Actualresults

225,970

+19.1

6,093

599,121--

Total of 2 companies

ｰ* For companies that announce consolidated accounting, figures forconsolidated accounting are shown.
* All figures represent actual results and forecasts announced as of
October 20, 2023.
* Market capitalization is based on the closing price on October 20,
2023.
48
Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

The Company's sales index and industrial production index
TRUSCO Nakayama
Sales Index
Changes in the Company's sales index and industrial production index

148.0

137.7

140.0

128.7

132.5
128.1

117.1

120.0

106.3
103.1

104.2
101.1

100.0
100.0

95.2

100.0

95.6

90.9

Industrial
production index
80.0

平成27年
2015
（2015）

平成28年
2016（2016）

平成29年
2017（2017）

平成30年
2018（2018）

令和元年
2019（2019）

令和２年
2020（2020）*Index standard: Year 2015 set as 100.
*Industrial production index is the figure published by the Ministry of Economy, Trade and Industry on January 31, 2023.

令和３年
2021
（2021）

令和４年
2022（2022）

Copyright 2023 TRUSCO NAKAYAMA Corporation. All rights reserved.

49