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

Consolidated Financial Results for the Fiscal Year Ended March 31, 2017 [Japanese GAAP]May 10, 2017
(Listed on Tokyo Stock Exchange)
4246
URL http://www.daikyonishikawa.co.jp/en/
Nariaki Uchida, Representative Director and President
Motoharu Nishikimura, Director and Senior Managing Executive Officer andCorporate Planning and Management Division Manager
Tel. 082-885-9979
Scheduled date of annual general meeting of shareholders: June 22, 2017
Scheduled date to commence dividend payments: June 23, 2017
Scheduled date to file securities report: June 22, 2017
Preparation of supplementary materials on financial results: NoneHolding of annual results meeting: Yes(for investment analysts and institutional investors)(Amounts less than one million yen are rounded off)
1. Consolidated results for the fiscal year ended March 31, 2017
(1) Consolidated operating results(Percentages indicate year-on-year changes)
Company NameSecurities CodeRepresentativeInquiries

DaikyoNishikawa Corporation

Net Sales

Operating income

Fiscal year ended millions of yen% millions of yen

Ordinary income% millions of yen

Profit attributable toowners of the parent% millions of yen%

March 31, 2017
155,643-3.2
14,376-16.6
13,865-15.7
10,096-12.8
March 31, 2016
160,779
19.7
17,23639.5
16,45051.9
11,576
66.9
Note: Comprehensive income
For the fiscal year ended March 31, 2017 :
9,080 million yen ( -7.7%)
For the fiscal year ended March 31, 2016 :9,835 million yen ( 24.9%)
Net income
per share
Fiscal year ended

Diluted net
income per shareyen

Net income/shareholders'equityOrdinary income/ Operating income
total assets/ net sales

yen%

%

%

March 31, 2017137.50137.48
18.7
11.4
9.2
March 31, 2016159.69
－24.5
13.8
10.7
Reference : Share of profit (loss) of investments accounted for using equity method
For the fiscal year ended March 31, 2017 :140 million yen
For the fiscal year ended March 31, 2016 :407 million yen
Note:DaikyoNishikawa Corporation (hereafter, the ''Company'') conducted a stock split at a ratio of 1:4 ofcommon stock on January 1, 2016. Net income per share has been calculated on the basis that the stock
split had been effective at the beginning of the fiscal year ended March 31, 2016.
(2) Consolidated financial position
Total assets
As ofmillions of yen

March 31, 2017
120,409
March 31, 2016
123,568
Reference:Shareholders' Equity

Shareholders'equity ratio

Net assets
millions of yen

Net assets
per share%

56,53054,047
As of March 31, 2017:
As of March 31, 2016:

yen

45.7
42.6
55,085 million yen
52,641 million yen

777.54712.37(3) Consolidated cash flows
Cash flows from
Cash flows from
Cash flows fromoperating activities investing activities financing activities

Cash and cash
equivalents at theend of period

Fiscal year ended

millions of yen

millions of yen

millions of yen

millions of yen

March 31, 2017
March 31, 2016

17,62829,678(9,267)(9,090)(11,196)(3,199)33,66437,174

2. Dividends
Cash dividends per share
Fiscalyear-end

FirstSecond
Third
quarter-end quarter-end quarter-end
Fiscal year endedyenyenyen

March 31, 2016
March 31, 2017
Year ending March 31,2018 (Forecasts)

－－

37.00
12.00

－－

Ratio ofDividend

Total

Total cash payout ratio dividends todividends (Consolidated) net asset

yenyenmillions of yen%(Consolidated)
%

19.00
16.00

－
28.00

2,073
2,020

17.7
20.4

4.4
3.8

－
15.00
－
15.00
30.00
19.3
Note1: The year-end dividends for the fiscal year ended March 31, 2017 include a commemorative dividend of\2 per share.
Note2: The Company conducted a stock split at a ratio of 1:4 of common stock on January 1, 2016. For thesecond quarter-end in the fiscal year ended March 31, 2016, the actual amount of dividends before
the said stock split was conducted is presented.

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2018
(Percentages indicate year-on-year changes)
Profit attributable toNet income
Net sales
Operating income Ordinary income
owners of the parent
per share
Apr.1-Sep.30,2017
Year ending
March 31, 2018

millions of yen%

millions of yen%millions of yen%millions of yen%

yen

79,000

6.1

7,700

3.7

7,700

10.9

5,600

11.1

79.04

160,000

2.8

15,300

6.4

15,30010.3

11,0009.0

155.27* Note(1) Changes in significant subsidiaries during the period(changes in specified subsidiaries resulting in the change in scope of consolidation)： None(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period
financial statements
1) Changes in accounting policies due to revisions to accounting： Yes
standards and other regulations
2) Changes in accounting policies due to other reasons： None3) Changes in accounting estimates： None4) Restatement of prior period financial statements： None(3) Number of shares outstanding (Common shares)
1) Total number of shares outstanding including treasury stocks

As of March 31, 2017

73,896,400 shares

As of March 31, 2016

73,896,400 shares

As of March 31, 2017

3,050,421 shares

As of March 31, 2016
Fiscal year ended March 31, 2017

73,426,702 sharesFiscal year ended March 31, 2016

72,492,970 shares

2) Number of treasury stocks
3) Average number of shares during the period

465 shares

Note:The Company conducted a stock split at a ratio of 1:4 of common stock on January 1, 2016. Number ofshares outstanding has been calculated on the basis that the stock split had been effective at thebeginning of the fiscal year ended March 31, 2016.
(Reference) Summary of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2017
(1) Non-consolidated operating results(Percentages indicate year-on-year changes)
Net sales
Fiscal year ended millions of yen

March 31, 2017
March 31, 2016

124,288
121,581

Operating income% millions of yen

2.2
6.5

Net income
per share
Fiscal year ended

10,71013,173Ordinary income% millions of yen

-18.7
24.2

10,94813,534

Net income% millions of yen

-19.1
33.6

%

7,987
9,212-13.3
65.2

Diluted net income
per shareyenyen

March 31, 2017108.78108.77
March 31, 2016
127.08－Note:The Company conducted a stock split at a ratio of 1:4 of common stock on January 1, 2016. Net income
per share has been calculated on the basis that the stock split had been effective at thebeginning of the fiscal year ended March 31, 2016.
(2) Non-consolidated financial position
Total assets
As ofmillions of yen

March 31, 2017
97,208March 31, 2016
100,251
Reference: Shareholders' equity

Shareholders'equity ratio

Net assets
millions ofyen

48,93847,717
As of March 31, 2017:
As of March 31, 2016:

Net assets
per share%

50.3
47.6
48,921 million yen
47,717 million yen

yen

690.53645.74* This financial results report is not subject to audit procedures.
* Proper use of earnings forecasts, and other special matters
The earnings forecasts and other descriptions of the future presented in this report are based on
information currently available to the Company and on certain assumptions deemed to be reasonable. Actual
results may differ substantially due to various factors.