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, 2024
(Based on Japanese GAAP)
August 7, 2024
NIPPON CARBIDE INDUSTRIES CO.,INC.
Company name:
Stock exchange listing: Tokyo
Stock code:
Representative:

4064
PresidentURL

https://www.carbide.co.jp/Takahisa Sugiyama

Inquiries:

Director Executive Officer General Manager
Yuichi Yokota
Corporate Planning Department

Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:–No

Holding of financial results meeting:

NoTEL

03-5462-8224(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)(1) Consolidated operating results (cumulative)

Three months ended June 30, 2024
Three months ended June 30, 2023

Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
11,239
10.5
625
59.4
945
36.6
660
(8.4)
10,171 (12.0)
392 (47.1)
692 (38.8)
721 (17.6)
Earnings per share

Diluted earnings per share

Yen
71.02
76.72

Three months ended June 30, 2024
Three months ended June 30, 2023

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2024
As of March 31, 2024

Net assets

Millions of yen
62,42661,020Equity ratio

Millions of yen35,547
34,623%53.6
53.5

2. Cash dividends
Annual dividends per share

Year ended March 31, 2024
Year ending March 31, 2025

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
30.00

Yen–

Yen
50.00

Yen
80.00

40.00

–

40.00

80.00

Year ending March 31, 2025 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Yen
Six months ending
23,0007.8
1,100 128.7
1,200
16.8
700 (11.1)
75.23
September 30, 2024
Full year
50,00015.7
2,100 147.3
2,200
39.9
1,000
0.0
106.441

4. Notes(1) Significant changes in the scope of consolidation during the three months ended June 30, 2024:

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

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

No
No

Restatement of prior period financial statements:

No(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, 2024

9,419,659 shares As of March 31, 2024

9,419,659 shares

114,892 shares As of March 31, 2024

114,821 shares

Number of treasury shares at the end of the period
As of June 30, 2024

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2024

9,304,802 shares Three months ended June 30, 2023

29,399,658 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract assets

13,442
12,526

14,431
12,799Merchandise and finished goodsWork in process

4,699
2,030

4,813
2,068

Raw materials and supplies
Other

2,638
566

2,571
673

Allowance for doubtful accounts
Total current assets

(183)

(201)

35,721

37,156

7,698

7,613

3,458
10,6103,595
10,638Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Land
Other, net

1,606

1,517

Total property, plant and equipment

23,37423,364

629

625

1,336

1,321

Intangible assets
Investments and other assets
Other
Allowance for doubtful accounts

(41)

(41)

Total investments and other assets

1,295

1,279

25,29925,26961,02062,426

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and other officers)

5,537

5,734

6,214
175

5,998
138

622
32

606
–

Other

2,098

2,645

Total current liabilities

14,681

15,123

4,943
3,720

4,923
3,779

22

18

Deferred tax liabilities for land revaluation
Other

2,411
616

2,411
623

Total non-current liabilities

11,714

11,75526,396

26,878

Shareholders' equity
Share capital

7,797

7,797

Capital surplus
Retained earnings

3,112
13,2983,112
13,494Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for retirement benefits for directors (and otherofficers)

Total liabilities
Net assets

Treasury shares
Total shareholders' equity

(212)

(212)

23,99624,191

49
044
2

5,342
3,333

5,342
3,996

Accumulated other comprehensive incomeValuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income

(90)

(85)

8,634

9,299

Non-controlling interests

1,992

2,056

Total net assets

34,62335,54761,02062,426

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, 2023

June 30, 2024

Net sales
Cost of sales

10,171
6,939

11,239
7,763

Gross profit

3,232

3,476

Selling, general and administrative expenses

2,840

2,850

392

625

Interest income
Dividend income

45
1360
10

Foreign exchange gains
Other

256
75

285
48

Total non-operating income

391

405

27336451

Operating profit
Non-operating income

Non-operating expenses
Interest expenses
Other

91

84

Ordinary profit

Total non-operating expenses

692

945

Extraordinary income
Gain on sale of investment securities

206–206–Profit before income taxes

Total extraordinary income

898

945

Income taxes - current
Income taxes - deferred

145
(9)

211(28)

Total income taxes

136

182

Profit762

763

Profit attributable to non-controlling interests

41

102

Profit attributable to owners of parent

721

660

5

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

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2023

June 30, 2024
762

763

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

(152)
0(8)
2Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

440
8675
5

Total other comprehensive income

296

676

1,059

1,439

996

1,326

62113

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

6