NISSAN SHATAI | FOR INVESTORS | Financial Information

Historical Financial Statements

Updated May 13, 2025

(Unit: million yen)

Assets
	FY2020	FY2021	FY2022	FY2023	FY2024
	2021/3	2022/3	2023/3	2024/3	2025/3
Current assets
Cash on hand and in banks	391	405	396	678	70,883
Trade notes and accounts receivable	76,638	-	-	-	-
Notes and accounts receivable - trade, and contract assets	-	51,409	67,852	52,991	75,193
Work in process	2,611	867	832	826	746
Raw materials and supplies	2,862	3,316	4,127	3,604	4,415
Current portion of long- term loans receivable	-	-	93	40,000	-
Accounts receivable-other	2,731	1,430	629	1,004	591
Deposits paid	125,387	52,463	49,031	40,736	22,173
Deferred tax assets	-	-	-	-	-
Other	187	812	254	189	215
Total current assets	210,810	110,705	123,124	140,030	174,219
Fixed assets
Property, plant and equipment
Buildings and structures, net	10,353	10,586	11,072	12,325	12,922
Machinery, equipment and vehicles, net	13,022	12,334	11,757	13,971	18,164
Tools, furniture and fixtures, net	6,180	5,736	4,375	3,760	34,972
Land	14,278	14,228	14,228	14,132	14,132
Construction in progress	1,888	2,763	8,809	36,431	6,595
Total property, plant and equipment	45,723	45,651	50,244	80,622	86,787
Intangible fixed assets	1,006	848	1,906	2,251	2,129
Investments and other assets
Investment securities	324	324	324	324	324
Long-term loans receivable	0	70,094	70,000	30,000	-
Long-term prepaid expenses	69	16	0	-	-
Retirement benefit asset	-	-	-	2,958	5,325
Deferred tax assets	2,756	3,245	3,221	1,884	851
Other	361	348	327	304	274
Total investments and other assets	3,512	74,028	73,873	35,472	6,775
Total fixed assets	50,242	120,527	126,025	118,345	95,693
Total assets	261,052	231,233	249,149	258,376	269,913

(Unit: million yen)

Liabilities
	FY2020	FY2021	FY2022	FY2023	FY2024
	2021/3	2022/3	2023/3	2024/3	2025/3
Current liabilities
Trade notes and accounts payable	49,789	31,104	39,355	28,738	42,834
Electronically recorded obligations-operating	11,131	7,242	12,901	10,494	13,993
Lease obligations	3,100	2,898	1,721	12,393	15,421
Accounts payable-other	733	1,224	2,756	3,493	2,638
Accrued expenses	8,686	8,165	8,242	8,638	8,779
Income taxes payable	220	126	877	123	596
Deposits received	250	279	223	267	232
Deposits received from employees	2,915	2,819	2,681	2,476	2,296
Accrued warranty costs	203	198	168	129	157
Other	2,274	751	2,011	1,637	1,524
Total current liabilities	79,306	54,810	70,938	68,392	88,474
Long-term liabilities
Lease obligations	1,328	1,159	550	12,279	1,726
Accrued warranty costs	241	185	252	226	341
Net defined benefit liabilities	3,368	1,289	2,833	1,690	1,311
Asset retirement obligations	1,122	1,123	1,124	1,094	1,095
Other	508	474	461	358	403
Total long-term liabilities	6,569	4,232	5,222	15,649	4,877
Total liabilities	85,875	59,042	76,161	84,042	93,351

(Unit: million yen)

Net assets
	FY2020	FY2021	FY2022	FY2023	FY2024
	2021/3	2022/3	2023/3	2024/3	2025/3
Shareholders' equity
Common stock	7,904	7,904	7,904	7,904	7,904
Capital surplus	8,517	8,517	8,517	8,317	8,317
Retained earnings	177,564	173,517	175,639	151,849	153,121
Treasury stock	(22,635)	(22,635)	(22,636)	(0)	(0)
Total shareholders' equity	171,351	167,303	169,425	168,072	169,344
Accumulated other comprehensive income
Remeasurements of defined benefit plans	3,825	4,886	3,561	6,261	7,217
Total accumulated other comprehensive income	3,825	4,886	3,561	6,261	7,217
Total net assets	175,176	172,190	172,987	174,333	176,561
Total liabilities and net assets	261,052	231,233	249,149	258,376	269,913

Updated May 13, 2025

(Unit: million yen)

	FY2020	FY2021	FY2022	FY2023	FY2024
	2021/3	2022/3	2023/3	2024/3	2025/3
Net sales	362,869	215,359	307,521	301,071	350,508
Cost of sales	355,190	212,146	295,930	292,633	338,187
Gross profit	7,678	3,213	11,590	8,437	12,320
Selling, general and administrative expenses	7,195	6,752	7,199	7,458	7,173
Operating income (loss)	483	(3,538)	4,390	979	5,147
Non-operating income
Interest income	718	340	342	315	476
Dividends income	3	3	3	3	3
Rent income on fixed assets	230	212	214	215	252
Gain on sale of scraps	10	170	-	-	-
Subsidies for employment adjustment	716	323	251	-	-
Other	48	153	136	138	118
Total non-operating income	1,716	1,203	949	672	850
Non-operating expenses
Interest expense	61	50	56	53	47
Rent expenses on fixed assets	135	133	139	171	33
Depreciation and amortization	3	5	8	12	44
Other	26	16	18	21	25
Total non-operating expenses	226	207	221	258	151
Ordinary income (loss)	1,973	(2,541)	5,118	1,392	5,847
Special gains
Gain on sales of fixed assets	1,784	1	1	147	27
Reversal of recall expenses	-	-	560	-	-
Compensation income	-	-	-	-	128
Total special gains	1,784	1	562	147	156
Special losses
Loss on retirement of fixed assets	192	510	491	655	983
Impairment loss	1,253	-	-	155	172
Penalty	-	-	-	-	494
Compensation expenses	-	-	-	-	254
Other	0	40	-	2	8
Total special losses	1,447	550	491	813	1,913
Income (loss) before income taxes and minority interests	2,311	(3,091)	5,189	726	4,090
Income taxes-current	618	50	753	126	449
Income taxes-deferred	(225)	(924)	552	192	607
Total income taxes	393	(873)	1,306	319	1,057
Net income (loss)	1,917	(2,217)	3,883	407	3,033
Profit (loss) attributable to owners of parent	1,917	(2,217)	3,883	407	3,033

Updated May 13, 2025

(Unit: million yen)

	FY2020	FY2021	FY2022	FY2023	FY2024
	2021/3	2022/3	2023/3	2024/3	2025/3
Cash flows from operating activities	8,237	7,872	10,985	7,687	8,997
Cash flows from investing activities	(481)	(75,155)	(9,305)	(12,110)	59,104
Cash flows from financing activities	(5,614)	(5,625)	(5,122)	(3,590)	(16,459)
Increase (decrease) in cash and cash equivalents	2,141	(72,909)	(3,441)	(8,012)	51,642
Cash and cash equivalents at beginning of the period	123,637	125,778	52,869	49,427	41,414
Cash and cash equivalents at end of the period	125,778	52,869	49,427	41,414	93,056