Summary of Consolidated Financial Results for the Third Quarter Ended December 31, 2024(Unaudited)

Company name:

Nihon Seiko Co., Ltd.

URL:

https://www.nihonseiko.co.jp

Stock exchange listing:

Tokyo

Securities Code:

5729

Company Representative:

Noritaka Ueda, President & CEO

Contact Information:

Yoshitaro Oonishi, Director, General Manager, Corporate Planning ＆ Administration Dept.

Tel +81-3-3235-0021

1. Consolidated Financial Results for the Third Quarter Ended December 31, 2024 and 2023

(1) Operating Results

(Rounded down to millions of Japanese Yen)

Net sales

Operating income

Ordinary income

Profit attributable to

owners of parent

For the Third quarter ended

Millions of Yen

%

Millions of Yen

%

Millions of Yen

%

Millions of Yen

%

December 31, 2024

17,334

50.5

1,756

317.3

1,705

286.6

1,187

275.1

December 31, 2023

11,519

(6.5)

420

(44.2)

441

(40.5)

316

(38.5)

Note: Comprehensive income:

As of December 31, 2024: 1,188 million yen

252.7% As of December 31, 2023: 336 million yen (33.9)%

EPS

For the Third quarter ended

Yen

December 31, 2024

485.63

December 31, 2023

129.66

(2) Financial Position

Total assets

Total net assets

Shareholders' equity ratio

As of

Millions of Yen

Millions of Yen

%

December 31, 2024

18,941

10,658

56.3

March 31, 2024

15,874

9,701

61.1

Note: Shareholders' equity

As of December 31, 2024: 10,658 million yen

As of March 31, 2024: 9,701 million yen

2. Cash Dividends

Cash Dividends per Share

First Quarter

Second Quarter

Third Quarter

Year-end

Annual

For the year ended

Yen

Yen

Yen

Yen

Yen

March 31, 2024

-

40.00

-

40.00

80.00

March 31, 2025

-

60.00

March 31, 2025(expected)

-

45.00

105.00

Note: Revision of outlook for dividends in the third quarter : No

3. Consolidated Earnings Forecast for the Year Ending March 2025(April 1, 2024 ～ March 31, 2025):

(%: Change from the previous fiscal year for Year ending March 31,2025)

Profit

Net sales

Operating income

Ordinary income

attributable to

EPS

owners of

parent

For the year ending March 31, 2025

Millions of Yen

%

Millions of Yen

%

Millions of Yen %

Millions of Yen

%

Yen

Full year

-

-

-

-

-

-

-

-

-

Note: Revision of outlook for fiscal 2024 consolidated earnings results in the third quarter : No

As of December 31, 2024:

2,605,900

As of March 31, 2024:

2,605,900

2.

Number of treasury shares at the end of the period:

As of December 31, 2024:

158,307

As of March 31, 2024:

162,711

3.

Average number of outstanding shares during period:

For the 3rd Quarter ending March 31, 2025: 2,445,895

For the 3rd Quarter ended March 31, 2024: 2,442,067

Nihon Seiko Co., Ltd

Consolidated balance sheets

(Thousands of yen)

As of March 31, 2024

As of December 31, 2024

Assets

Current assets

Cash and deposits

3,023,275

1,975,925

Notes and accounts receivable - trade

2,867,394

4,443,259

Merchandise and finished goods

1,913,545

3,010,107

Work in process

377,873

419,066

Raw materials and supplies

1,257,623

2,573,336

Other

275,461

545,037

Allowance for doubtful accounts

(9,039)

(14,525)

Total current assets

9,706,134

12,952,207

Non-current assets

Property, plant and equipment

Buildings and structures, net

2,533,598

2,491,880

Machinery, equipment and vehicles, net

657,173

996,941

Land

1,436,191

1,436,191

Other, net

940,077

453,927

Total property, plant and equipment

5,567,040

5,378,940

Intangible assets

154,415

139,007

Investments and other assets

446,832

471,445

Total non-current assets

6,168,288

5,989,393

Total assets

15,874,422

18,941,600

Nihon Seiko Co., Ltd

Consolidated balance sheets

(Thousands of yen)

As of March 31, 2024

As of December 31, 2024

Liabilities

Current liabilities

Notes and accounts payable - trade

1,315,756

2,094,336

Electronically recorded obligations - operating

332,618

265,394

Short-term borrowings

1,579,200

3,184,450

Income taxes payable

116,149

444,585

Provision for bonuses

157,110

87,566

Other

729,334

534,618

Total current liabilities

4,230,169

6,610,951

Non-current liabilities

Long-term borrowings

1,191,500

903,300

Retirement benefit liability

354,493

370,235

Asset retirement obligations

37,856

38,251

Other

359,233

360,449

Total non-current liabilities

1,943,083

1,672,236

Total liabilities

6,173,253

8,283,187

Net assets

Shareholders' equity

Share capital

1,018,126

1,018,126

Capital surplus

570,142

580,107

Retained earnings

8,200,727

9,143,954

Treasury shares

(151,653)

(148,209)

Total shareholders' equity

9,637,343

10,593,979

Accumulated other comprehensive income

Valuation difference on available-for-sale

50,419

50,309

securities

Foreign currency translation adjustment

13,406

14,124

Total accumulated other comprehensive income

63,826

64,433

Total net assets

9,701,169

10,658,413

Total liabilities and net assets

15,874,422

18,941,600

Nihon Seiko Co., Ltd.

Consolidated statements of income

(Thousands of yen)

Nine months ended

Nine months ended

December 31, 2023

December 31, 2024

Net sales

11,519,804

17,334,050

Cost of sales

10,274,932

14,663,436

Gross profit

1,244,872

2,670,614

Selling, general and administrative expenses

823,978

914,400

Operating profit

420,893

1,756,214

Non-operating income

Dividend income

3,136

5,184

Foreign exchange gains

12,329

-

Subsidy income

10,888

4,778

Surrender value of insurance policies

4,574

8,550

Other

13,325

4,031

Total non-operating income

44,253

22,544

Non-operating expenses

Interest expenses

12,938

28,550

Foreign exchange losses

-

30,058

Care and maintenance costs of suspended mine

9,664

13,826

Other

1,310

487

Total non-operating expenses

23,913

72,922

Ordinary profit

441,234

1,705,835

Extraordinary income

Gain on sale of non-current assets

-

835

Total extraordinary income

-

835

Extraordinary losses

Loss on retirement of non-current assets

12,717

615

Total extraordinary losses

12,717

615

Profit before income taxes

428,516

1,706,055

Income taxes - current

86,153

514,941

Income taxes - deferred

25,732

3,303

Total income taxes

111,885

518,244

Profit

316,631

1,187,811

Profit attributable to owners of parent

316,631

1,187,811

Nihon Seiko Co., Ltd.

Consolidated statements of comprehensive income

(Thousands of yen)

Nine months ended

Nine months ended

December 31, 2023

December 31, 2024

Profit

316,631

1,187,811

Other comprehensive income

Valuation difference on available-for-sale securities

16,315

(110)

Foreign currency translation adjustment

4,013

717

Total other comprehensive income

20,329

607

Comprehensive income

336,960

1,188,418

Comprehensive income attributable to

Comprehensive income attributable to owners of

336,960

1,188,418

parent

Reportable segments

Per quarterly

Others

Total

Reconciling

consolidated

Antimony

Atomized

Reportable

items

financial

metal

products

segments

statements

powders

Sales

Revenues from external

6,179,410

5,316,672

11,496,082

23,722

11,519,804

-

11,519,804

customers

Transactions with other

-

42,083

42,083

1,166

43,249

(43,249)

-

segments

Net sales

6,179,410

5,358,755

11,538,165

24,888

11,563,053

(43,249)

11,519,804

Operating profit

196,451

191,318

387,769

16,962

404,732

16,161

420,893

Reportable segments

Per quarterly

Others

Total

Reconciling

consolidated

Antimony

Atomized

Reportable

items

financial

metal

products

segments

statements

powders

Sales

Revenues from external

9,939,462

7,369,160

17,308,623

25,427

17,334,050

-

17,334,050

customers

Transactions with other

2,213

36,505

38,719

1,247

39,966

(39,966)

-

segments

Net sales

9,941,676

7,405,666

17,347,342

26,674

17,374,017

(39,966)

17,334,050

Operating profit (loss)

1,277,682

452,465

1,730,147

3,186

1,733,334

22,879

1,756,214