Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2021
(Based on Japanese GAAP)
July 26, 2021
NAGAWA Co.,Ltd.
Company name:
Stock exchange listing: Tokyo
Stock code:
Representative:

9663
President

URL

https://group.nagawa.co.jp/Osamu Takahashi

Inquiries:
Chief Financial Officer
Scheduled date to file Quarterly Securities Report:

Ryoh Shimmura
August 5, 2021

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:

NoTEL

03-5288-8666(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2021
Three months ended June 30, 2020

Millions of yen
7,055
6,123

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
15.2
1,002
23.3
1,143
16.5
751
15.1
(2.9)
812
34.5
981
39.8
652
45.2

Earnings per share

Diluted earnings per share

Yen
48.13
41.89

Three months ended June 30, 2021
Three months ended June 30, 2020

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2021
As of March 31, 2021

Net assets

Millions of yen
53,18253,409Equity ratioMillions of yen
48,43848,072

%
91.1
90.0

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
0.00

Yen–

Yen
60.00

Yen
60.00

0.00

–

60.00

60.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profitOrdinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
14,000
4.1
1,950
5.6
2,150
5.2
1,450
5.8
93.07
September 30, 2021
Full year
31,000
5.5
4,600
7.4
4,800
5.8
3,300
8.7
211.81

14. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2021
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2021

16,357,214 shares As of March 31, 202116,357,214 shares

Number of treasury shares at the end of the period
As of June 30, 2021

697,707 shares As of March 31, 2021

772,967 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2021

15,608,867 shares Three months ended June 30, 2020

215,580,097 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of June 30, 2021

AssetsCurrent assets
Cash and deposits
Notes receivable - trade

14,215
1,68613,131
1,679

Electronically recorded monetary claims - operating
Accounts receivable - trade

1,851
4,655

1,829
4,113

Contract assets
Merchandise and finished goods

–
1,830

452
2,059

Work in process
Raw materials and supplies

111
172

173
253

Other
Allowance for doubtful accounts

220
(1)

231
(0)

24,74323,924

Assets for rent, net
Buildings and structures, net

8,433
1,572

8,659
1,534

Land
Construction in progress

6,442
4

6,442
2261

236

16,713

16,876214

210

10,401

10,870

Leasehold and guarantee deposits
Retirement benefit asset

579
84578
90

Deferred tax assets
Other152
519

136
495

Allowance for doubtful accounts

(0)

(0)

Total current assets
Non-current assets
Property, plant and equipment

Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities

Total investments and other assets
Total non-current assets
Total assets

3

11,737

12,17028,66529,25853,40953,182

(Millions of yen)
As of March 31, 2021

As of June 30, 2021

Liabilities
Current liabilities
Accounts payable - trade

2,181

2,082

Income taxes payable
Provision for bonuses

992
295

375
362

Provision for bonuses for directors (and other officers)
Provision for loss on liquidation of subsidiaries and55

15

77–

23

associates
Asset retirement obligations
Other

912

1,020

4,444

3,887

Long-term borrowings
Long-term accounts payable - other

587
27587
27

Retirement benefit liability
Asset retirement obligations

081

051

Other

195

190

Total non-current liabilities

892

857

5,336

4,744

Share capital
Capital surplus

2,855
7,933

2,855
8,363

Retained earnings
Treasury shares

38,809(2,171)

38,622(1,994)

Total shareholders' equity

47,427

47,847

Total current liabilities
Non-current liabilities

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

648

598

Foreign currency translation adjustment

(3)

(7)

Total accumulated other comprehensive income

645

590

–

–

48,072

48,43853,40953,182

Non-controlling interests
Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2020

June 30, 2021

Net sales
Cost of sales

6,123
3,458

7,055
4,084

Gross profit

2,665

2,970

Selling, general and administrative expenses

1,852

1,968

812

1,002

2176

24112

Rental income
Foreign exchange gains

6–

66

Miscellaneous income

34188

154

Foreign exchange losses
Share-based remuneration expenses

153–
10

Miscellaneous losses

02

Operating profit
Non-operating income
Interest income
Dividend income

Total non-operating income
Non-operating expenses

Total non-operating expenses

1912981

1,143

Extraordinary income
Gain on sale of non-current assets

00

Total extraordinary income

000

404

Profit before income taxes

981

1,138

Income taxes - current
Income taxes - deferred

3280349
38

Total income taxes

329387

Profit652

751

Profit attributable to owners of parent

652

751

Ordinary profit

Extraordinary losses
Loss on disposal of non-current assets
Total extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total other comprehensive income
Comprehensive income

Three months ended

Three months ended

June 30, 2020

June 30, 2021
652

751

373
(0)

(50)
(3)

372

(54)

1,025

696

1,025

696

––

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6