Nichidai : Financial Results

NICHIDAI	CORPORATION
Summary of Financial Results for the Ended March 31, 2022
	April 28, 2022
Company name: NICHIDAI CORPORATION	Listed Stock Exchange: Tokyo Securities Exchange
Code number: 6467	(URL https://www.nichidai.jp)

Company Representative: Naoki Ito, President & Corporate Officer

Contact Information: Takayoshi Yamane, Corporate officer Headquarters General Manager TEL [phone]

Annual shareholders'meeting: June 23, 2022
Reporting date of financial statements: June 24, 2022	Commencement date of dividend payment: June 24, 2022
	(Rounded down to the nearest million yen.)

1. Consolidated Financial Results for the Year Ended March 31, 2022 (FromApril 1, 2021 to March 31, 2022)

(1) Consolidated Operating Results (Total)

(% = Year-on-year change)

Net sales

Operating Income

Ordinary Income

Net income Attributable

to Owners of the Parent

13.7

339

264

△619

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

FY2022

12,301

217

-

FY2021

10,823

26.7

△

△

yen (

△173

FY2021

△170

yen (

％)

(Attn.) Comprehensive

income

FY2022

- ％)

△337million

△

640million -

-

-

EPS

Adjusted EPS

Return on

Ratio of ordinary

Ratio of operating

income to total

Equity

income to net sales

assets

Yen

Sen

Yen Sen

％

％

％

FY2022

68

43

―

5.8

1.7

.8

△

―

△

△

△3.1

FY2021

△18

86

△1.5

1.1

1

(Ref.) Gain or loss on investment by equity

method

FY2022

－ million yen

FY2021 － million yen

(2) Consolidated Financial Position

TotalAssets

NetAssets

Shareholders' Equity

BPS

Ratio

Millions ofYen

Millions ofYen

％

Yen

Sen

FY2022

15,327

11,439

67.6

1,144

98

FY2021

15,656

12,169

70.4

1,217

26

(Ref.) Shareholders'Equity

FY2022

10,363

million yen

FY2021

11,017 million yen

(3) Consolidated Statements of Cash Flows

Cash & Cash

Operating Activities

Investing Activities

Financing Activities

Equivalents at the end of

The period

Millions of Yen

Millions of Yen

Millions of Yen

Millions of Yen

FY2022

699

△586

504

3,767

FY2021

781

△650

△260

3,144

－1－

2. Dividends

Dividends per Share

Total

Payout Ratio

Dividend on

End of

End of 1st

End of 3rd

Year End

FullYear

Dividends

Equity Ratio

Interim

(Consolidated)

Quarter

Quarter

(Full Year)

(Consolidated)

Period

Yen Sen

Yen

Sen

Yen Sen

Yen

Sen

Yen

Sen

Millions ofYen

％

％

FY2021

―

0

00

―

4

00

4

00

36

-

0.3

FY2022

―

5

00

―

3

00

8

00

72

-

0.7

FY2023

―

4

00

―

4

00

8

00

36.2

（Forecast）

3. Consolidated Forecast for the Year Ending March 2023(From April 1, 2022 to March 31, 2023)

(% = indicates changes in net sales, operating income, etc. compared with preceding same period.)

	Net sales		Operating Income	Ordinary Income	Net income Attributable		EPS
								to Owners of the Parent
	Millions ofYen		％	Millions ofYen	％	Millions ofYen	％	Millions ofYen	％	Yen	Sen
Ended Sept.30,2022	5,850		△13.8	90	△64.8	85	△66.0	25	△82.4	2	76
Full Year	12,200		△0.8	310	42.7	300	13.3	200	-	22	10

※Notes

1. Changes of important subsidiaries during the period (changes in specified subsidiaries that involve changes in the scope of consolidation) N/A
2. Changes in accounting policy, changes in accounting estimate and restatement associated with preparing the consolidated financial results (to be stated in the changes of important items that form the basis of the consolidated

financial results)

① Changes resulting from revision of accounting policy YES

② Changes other than ① N/A

③ Changes in accounting estimate YES

• Restatement N/A

(3) Number of outstanding shares (ordinary shares)

• Number of outstanding shares at the end of the term (including treasury stocks)

FY2022 9,053,300 shares

FY2021 9,053,300 shares

• Number of treasury stocks at the end of the term

FY2022 2,066 shares

FY2021 2,066shares

• Average number of outstanding shares during the period

FY2022 9,051,234 shares

FY2021 9,051,234shares

1. Individual Financial Results for the Year Ended March 31, 2022 (FromApril 1, 2021 to March 31, 2022)

(1) Individual Operating Results (Total)

(% = Year-on-year change)

Net sales

Operating Income

Ordinary Income

Net income Attributable

to Owners of the Parent

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

FY2022

7,185

7.8

△202

-

△49

-

△511

-

FY2021

6,663

△28.1

△508

-

△238

-

△155

-

EPS

Adjusted EPS

△56

Yen

Sen

Yen Sen

FY2022

55

―

FY2021

△17

13

―

－2－

(2) Individual Financial Position

			TotalAssets	NetAssets		Shareholders' Equity		BPS
				Ratio
			Millions ofYen	Millions ofYen		％		Yen	Sen
	FY2022		10,032		6,801		67.8		751	50
	FY2021		10,300		7,397		71.8		817	26
	(Ref.) Shareholders'Equity		FY2022	6,801 million yen	FY2021	7,397 million yen

※This summary of consolidated financial results is not subject to audit.

※Explanation regarding proper use of the projected financial results and other notes

The future prospects of financial results etc. described in this material have been prepared based on the currently available information and certain assumptions assessed to be reasonable, and do not represent promise that the Company will attain these performance figures.Accordingly, actual figures may differ materially from those projected due to various factors.

1. Overview of operating results

(1) Overview of operating results for the fiscal year under review

In the Japanese automobile industry, which is the Group's main customer industry in the current consolidated fiscal year, the number of vehicles sold increased in the first half of the fiscal year compared to the same period of the previous year, which was stagnant due to the impact of COVID-19. From the second half of the year onward, production stagnated significantly due to the shortage of parts supply including semiconductors and the significant impact of the re-expansion of infection due to the epidemic of the mutant strain of COVID-19.

In addition, the outlook for the world economy is uncertain due to the destabilization of international affairs such as the Ukraine problem and the resulting rise in raw material prices.

Under these circumstances, in the Net-shape Business, sales tended to increase from the previous year, which was declining due to the expansion of COVID-19 in the first half of the year, but from the second half of the year, the impact of the reduction in automobile production became noticeable and decreased. As a result, the Net- shape business sales were 6,179 million yen (up 23.1% year-on-year).

The Assembly Business, although recovering from the significantly sluggish level of the previous year, remained sluggish in the second quarter due to the impact of production cuts by automobile manufacturers, similar to the Net-shape Business. As a result, sales in the Assembly Business were 3,708 million yen (up 6.1% year-on-year).

In the Filter Business, domestic sales remained at about the same level as the previous year, while overseas products performed well, and sales exceeded the initial plan.As a result, sales in the Filter Business were 2,413 million yen (up 4.6% year-on-year).

As a result of the above, sales of all businesses increased and consolidated sales were 12,301 million yen (up 13.7% year-on-year).

In terms of profit and loss, the Filter Business performed well, but operating income was 217 million yen due to stagnant sales in the Net-shape Business and Assembly Business (operating loss of 339 million yen in the same period of the previous year), ordinary income of 264 million yen (ordinary loss of 173 million yen in the same period of the previous year). In addition, since fixed assets such as the Assembly Business were impaired and an extraordinary loss of 743 million yen was recorded, a net loss attributable to owners of the parent company was 619 million yen (net loss attributable to owners of the parent company of 170 million yen in the same period of the previous year).

－3－