Nichidai : Financial Results

NICHIDAI CORPORATION

Summary of Consolidated Financial Results for the 2nd Quarter Ended September 30, 2022

	October 31, 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]
Reporting date of financial statements: November 11, 2022	Commencement date of dividend payment: December 1, 2022
	(Rounded down to the nearest million yen.)

1. Consolidated Financial Results for the 2ndQuarter Ended September 30, 2022 (FromApril 1, 2022 to September 30, 2022)

(1) Consolidated Operating Results (Total)

(% indicates changes in net sales compared with preceding same period.)

Net sales

Operating Income

Ordinary Income

Net income Attributable

to Owners of the Parent

For the 2nd Quarter

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Millions ofYen

％

Ended Sept. 30, 2022

5,248

△22.7

△143

－

△25

－

△151

－

Ended Sept. 30, 2021

6,788

33.1

255

－

250

－

142

－

(Note) Comprehensive

income

FY 2023 for the

2ndQuarter 315million yen

(72.9%)

FY 2022 for the 2ndQuarter 182million yen (－% )

EPS

Adjusted EPS

For the 2nd Quarter

Yen

Sen

Yen

Sen

Ended Sept. 30, 2022

△16

69

―

Ended Sept. 30, 2021

15

70

―

(2) Consolidated Financial Position

TotalAssets

NetAssets

Shareholders'Equity Ratio

Millions ofYen

Millions ofYen

％

Ended Sept. 30, 2022

15,641

11,723

67.4

FY 2022

15,327

11,439

67.6

million yen

(Ref.) Shareholders'Equity

FY 2023 for the 2ndQuarter

10,541 million yen

FY 2022 10,363

2. Dividends

Dividends per Share

End of 1st Quarter

End of 2nd Quarter

End of 3rd Quarter

Year End

Full Year

Yen

Sen

Yen

Sen

Yen

Sen

Yen

Sen

Yen

Sen

FY 2022

―

5

00

―

3

00

8

00

FY 2023

―

4

00

FY2023 (Forecast)

―

4

00

8

00

(Note) Revisions to the dividend forecast since the most recent announcement：N/A

3. Consolidated Forecast for the Year Ending March 2023(FromApril 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
Full Year	11,400	△7.3	40	△81.6	180	△32.0	65	－	7	18

(Note) Revisions to the dividend forecast since the most recent announcement：YES

1

※Note

1. Changes of important subsidiaries during the period (changes in specified subsidiaries that involve changes in the scope of consolidation): N/A
2. Adoption of any simplified way of accounting method or any accounting procedure specific to the preparation

of quarterly financial statements: N/A

(3) Changes in accounting principle, procedure or method associated with preparing the consolidated of quarterly financial results ① Changes resulting from revision of accounting policy YES

② Changes other than ① N/A

③ Changes in accounting estimate N/A

• Restatement N/A

(4) Number of outstanding shares (ordinary shares)

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

Ended Sept. 30, 2022 9,053,300 shares

FY 2022 9,053,300 shares

• Number of treasury stocks at the end of the term

Ended Sept. 30, 2022	2,066 shares	FY 2022 2,066 shares
③Average number of outstanding shares during the period
Ended Sept. 30, 2022	9,051,234 shares	Ended Sept. 30, 2021 9,051,234 shares

※The quarterly consolidated financial results presented herein are not subject to the quarterly review by certified public accountants or audit corporations.

※Explanation regarding appropriate use of business forecasts and other special instructions

The above forecasts of operating results are based on the information available at the time this document was released, and actual operating results may differ from these forecasts due to various factors.

1. Qualitative Information on the Second Quarter Financial Results

(1) Explanation of the results of operations

During the second quarter of the current consolidated cumulative period, the Japanese automobile industry, which is the main customer industry of the Group, showed an upward trend in global automobile sales compared to the same period of the previous year, and the global production volume of Japanese automobile manufacturers also showed signs of recovery. There are signs that the impact of parts supply shortages is on the decline. On the other hand, due to parts supply shortages, etc., automobile production adjustments are continuing, and the situation continues that a full-fledged recovery has yet to be achieved.

In addition, although restrictions due to the spread of the new coronavirus infection are easing, the outlook for the global economy remains uncertain due to the impact of soaring raw material prices and exchange rate fluctuations due to the situation in Ukraine. Under these circumstances, Net-shape Business sales were sluggish due to the impact of production stagnation in the automobile industry.As a result, Net-shape Business sales were 2,733 million yen (down 18.7% year-on-year).

In the Assembly Business, sales were 1,281 million yen (down 41.9% year-on-year) due to factors such as continued sluggish demand for turbocharger parts.

In the Filter Business, we recorded sales at the same level as the previous year while capturing new demand. As a result, sales were 1,233 million yen (up 0.9% year-on-year).

As a result, consolidated net sales were 5,248 million yen (down 22.7% year-on-year).

In terms of profit and loss, operating loss of 143 million yen (operating income of 255 million yen in the same period of the previous year) was recorded due to low sales in the Net-shape Business and theAssembly Business. In addition, ordinary loss of 25 million yen (ordinary income of 250 million yen in the same period of the previous year) was recorded due to non-operating income such as foreign exchange gain of 40 million yen and subsidy income of 22 million yen. Net loss attributable to owners of parent company was 151 million yen (net profit attributable to owners of parent company was 142 million yen in the same period of the previous fiscal year).

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