NISSHIN : Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2021 (Based on Japanese GAAP)

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 Nine Months Ended December 31, 2021 (Based on Japanese GAAP)

					February 4, 2022
Company name:	NISSHIN GROUP HOLDINGS Company, Limited
Stock exchange listing:	Tokyo
Stock code:	8881	URL https://www.nisshin-hd.co.jp/
Representative:	Representative Director and President	Yukiyoshi Tsutsumi
Inquiries:	Representative Director and Senior Managing	Hideki Kuroiwa	TEL [phone]
	Director
Scheduled date to file Quarterly Securities Report:	February 10, 2022
Scheduled date to commence dividend payments:	-
Preparation of supplementary material on quarterly financial results:	No
Holding of quarterly financial results meeting:	Yes	(for analysts)

(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the nine months ended December 31, 2021 (from April 1, 2021 to December 31, 2021)
(1) Consolidated operating results (cumulative)					Percentages indicate year-on-year changes
	Net sales		Operating profit	Ordinary profit	Profit attributable to
		owners of parent
	Millions of yen		%	Millions of yen	%	Millions of yen		%	Millions of yen	%
Nine months ended December 31, 2021	45,981		(16.5)	1,364	(56.4)	1,213		(58.4)	731	(62.1)
Nine months ended December 31, 2020	55,050		0.4	3,129	(2.0)	2,918		0.1	1,928	(25.3)
	Earnings per share		Diluted earnings per share
			Yen			Yen
Nine months ended December 31, 2021			15.62			-
Nine months ended December 31, 2020			41.11			-
(2) Consolidated financial position
	Total assets			Net assets	Equity ratio		Net assets per share
	Millions of yen		Millions of yen				%		Yen
As of December 31, 2021	111,872			61,336				54.7	1,310.65
As of March 31, 2021	107,461			61,566				57.2	1,309.64

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2021	-	0.00	-	18.00	18.00
Year ending March 31, 2022	-	0.00	-
Year ending March 31, 2022 (Forecast)				22.00	22.00

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

	Net sales		Operating profit		Ordinary profit		Profit attributable to	Earnings per share
				owners of parent
	Millions of yen	%	Millions of yen		%	Millions of yen		%	Millions of yen	%	Yen
Full year	83,000	2.7	5,300		0.6	5,000		(0.1)	3,400	(0.7)	72.54

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4. Notes

1. Changes in significant subsidiaries during the nine months ended December 31, 2021 (changes in specified subsidiaries resulting in the change in scope of consolidation):
2. Application of special accounting methods for preparing quarterly consolidated financial statements:

No

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:	Yes
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	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 December 31, 2021	46,951,260	shares	As of March 31, 2021	46,951,260	shares
Number of treasury shares at the end of the period
	As of December 31, 2021	219,232	shares	As of March 31, 2021	45,632	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Nine months ended December 31, 2021	46,820,502	shares	Nine months ended December 31, 2020	46,905,662	shares

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Quarterly consolidated financial statements

Consolidated balance sheets

			(Thousands of yen)
		As of March 31, 2021	As of December 31, 2021
Assets
Current assets
Cash and deposits	57,874,450	47,065,273
Notes receivable, accounts receivable from completed	11,388,596	17,078,825
construction contracts and other
Electronically recorded monetary claims - operating	311,840	121,550
Real estate for sale	5,925,878	3,364,324
Costs on real estate business	14,360,079	26,069,406
Costs on construction contracts in progress	131,391	15,921
Merchandise	3,837	3,452
Short-term loans receivable	14,320	11,190
Accounts receivable - other	93,978	760,957
Other	1,008,102	1,552,225
Allowance for doubtful accounts	(72,529)	(70,790)
Total current assets	91,039,946	95,972,335
Non-current assets
Property, plant and equipment	11,397,649	11,334,643
Intangible assets	94,073	81,626
Investments and other assets	4,929,991	4,483,670
Total non-current assets	16,421,714	15,899,940
Total assets		107,461,660	111,872,276

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			(Thousands of yen)
		As of March 31, 2021	As of December 31, 2021
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts	5,037,443	4,676,273
and other
Electronically recorded obligations - operating	4,605,403	4,484,940
Short-term borrowings	14,513,961	13,989,571
Current portion of bonds payable	88,000	88,000
Income taxes payable	985,486	41,356
Provisions
Provision for bonuses	455,121	186,905
Provision for warranties for completed construction	174,904	200,377
Provision for loss on construction contracts	-	12,607
Provision for shareholder benefit program	31,993	-
Other	3,000,845	3,586,891
Total current liabilities	28,893,158	27,266,922
Non-current liabilities
Bonds payable	400,000	356,000
Long-term borrowings	13,890,208	20,817,587
Provisions
Provision for retirement benefits for directors (and	590,970	-
other officers)
Provision for loss on guarantees	3,102	2,852
Provision for share awards for directors (and other	-	14,588
officers)
Retirement benefit liability	1,744,039	1,681,355
Other	373,421	396,094
Total non-current liabilities	17,001,742	23,268,477
Total liabilities		45,894,900	50,535,399

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			(Thousands of yen)
		As of March 31, 2021	As of December 31, 2021
Net assets
Shareholders' equity
Share capital	10,111,411	10,111,411
Capital surplus	427,432	425,478
Retained earnings	50,698,293	50,625,087
Treasury shares	(25,395)	(112,694)
Total shareholders' equity	61,211,742	61,049,282
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	222,660	201,619
Remeasurements of defined benefit plans	(4,738)	(1,184)
Total accumulated other comprehensive income	217,922	200,434
Non-controlling interests	137,095	87,158
Total net assets	61,566,759	61,336,876
Total liabilities and net assets		107,461,660	111,872,276

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