NISSAN SHATAI | FOR INVESTORS | Financial Information

Historical Financial Statements

Updated May 9, 2024

(Unit: million yen)

Assets
	FY2019	FY2020	FY2021	FY2022	FY2023
	2020/3	2021/3	2022/3	2023/3	2024/3
Current assets
Cash on hand and in banks	440	391	405	396	678
Trade notes and accounts receivable	74,457	76,638	-	-	-
Notes and accounts receivable - trade, and contract assets	-	-	51,409	67,852	52,991
Work in process	4,547	2,611	867	832	826
Raw materials and supplies	2,970	2,862	3,316	4,127	3,604
Current portion of long-term loans receivable	-	-	-	93	40,000
Accounts receivable-other	1,971	2,731	1,430	629	1,004
Deposits paid	123,197	125,387	52,463	49,031	40,736
Deferred tax assets	-	-	-	-	-
Other	213	187	812	254	189
Total current assets	207,798	210,810	110,705	123,124	140,030
Fixed assets
Property, plant and equipment
Buildings and structures, net	11,188	10,353	10,586	11,072	12,325
Machinery, equipment and vehicles, net	14,722	13,022	12,334	11,757	13,971
Tools, furniture and fixtures, net	6,269	6,180	5,736	4,375	3,760
Land	15,684	14,278	14,228	14,228	14,132
Construction in progress	2,064	1,888	2,763	8,809	36,431
Total property, plant and equipment	49,929	45,723	45,651	50,244	80,622
Intangible fixed assets	1,022	1,006	848	1,906	2,251
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	14	69	16	0	2,958
Deferred tax assets	5,248	2,756	3,245	3,221	1,884
Other	373	361	348	327	304
Total investments and other assets	5,959	3,512	74,028	73,873	35,472
Total fixed assets	56,911	50,242	120,527	126,025	118,345
Total assets	264,709	261,052	231,233	249,149	258,376

(Unit: million yen)

Liabilities
	FY2019	FY2020	FY2021	FY2022	FY2023
	2020/3	2021/3	2022/3	2023/3	2024/3
Current liabilities
Trade notes and accounts payable	47,546	49,789	31,104	39,355	28,738
Electronically recorded obligations-operating	11,801	11,131	7,242	12,901	10,494
Lease obligations	3,172	3,100	2,898	1,721	12,393
Accounts payable-other	1,213	733	1,224	2,756	3,493
Accrued expenses	8,796	8,686	8,165	8,242	8,638
Income taxes payable	2,464	220	126	877	123
Deposits received	227	250	279	223	267
Deposits received from employees	3,066	2,915	2,819	2,681	2,476
Accrued warranty costs	185	203	198	168	129
Other	2,337	2,274	751	2,011	1,637
Total current liabilities	80,812	79,306	54,810	70,938	68,392
Long-term liabilities
Lease obligations	1,415	1,328	1,159	550	12,279
Accrued warranty costs	216	241	185	252	226
Net defined benefit liabilities	11,726	3,368	1,289	2,833	1,690
Asset retirement obligations	1,121	1,122	1,123	1,124	1,094
Other	624	508	474	461	358
Total long-term liabilities	15,105	6,569	4,232	5,222	15,649
Total liabilities	95,917	85,875	59,042	76,161	84,042

(Unit: million yen)

Net assets
	FY2019	FY2020	FY2021	FY2022	FY2023
	2020/3	2021/3	2022/3	2023/3	2024/3
Shareholders' equity
Common stock	7,904	7,904	7,904	7,904	7,904
Capital surplus	8,517	8,517	8,517	8,517	8,317
Retained earnings	177,407	177,564	173,517	175,639	151,849
Treasury stock	(22,635)	(22,635)	(22,635)	(22,635)	(0)
Total shareholders' equity	171,194	171,351	167,303	169,425	168,072
Accumulated other comprehensive income
Remeasurements of defined benefit plans	(2,401)	3,825	4,886	3,561	6,261
Total accumulated other comprehensive income	(2,401)	3,825	4,886	3,561	6,261
Total net assets	168,792	175,176	172,190	172,987	174,333
Total liabilities and net assets	264,709	261,052	231,233	249,149	258,376

Updated May 9, 2024

(Unit: million yen)

	FY2019	FY2020	FY2021	FY2022	FY2023
	2020/3	2021/3	2022/3	2023/3	2024/3
Net sales	498,831	362,869	215,359	307,521	301,071
Cost of sales	482,149	355,190	212,146	295,930	292,633
Gross profit	16,681	7,678	3,213	11,590	8,437
Selling, general and administrative expenses	7,378	7,195	6,752	7,199	7,458
Operating income (loss)	9,303	483	(3,538)	4,390	979
Non-operating income
Interest income	332	718	340	342	315
Dividends income	3	3	3	3	3
Rent income on fixed assets	280	230	212	214	215
Gain on sale of scraps	-	10	170	-	-
Subsidies for employment adjustment	-	716	323	251	-
Other	132	48	153	136	138
Total non-operating income	749	1,716	1,203	949	672
Non-operating expenses
Interest expense	59	61	50	56	53
Rent expenses on fixed assets	168	135	133	139	171
Depreciation and amortization	5	3	5	8	12
Other	15	26	16	18	21
Total non-operating expenses	250	226	207	221	258
Ordinary income (loss)	9,802	1,973	(2,541)	5,118	1,392
Special gains
Gain on sales of fixed assets	0	1,784	1	1	147
Reversal of recall expenses	-	-	-	560	-
Total special gains	0	1,784	1	562	147
Special losses
Loss on retirement of fixed assets	293	192	510	491	655
Impairment loss	926	1,253	-	-	155
Other	0	0	40	-	2
Total special losses	1,220	1,447	550	491	813
Income (loss) before income taxes and minority interests	8,582	2,311	(3,091)	5,189	726
Income taxes-current	3,143	618	50	753	126
Income taxes-deferred	(387)	(225)	(924)	552	192
Total income taxes	2,755	393	(873)	1,306	319
Net income (loss)	5,827	1,917	(2,217)	3,883	407
Profit (loss) attributable to owners of parent	5,827	1,917	(2,217)	3,883	407

Updated May 9, 2024

(Unit: million yen)

	FY2019	FY2020	FY2021	FY2022	FY2023
	2020/3	2021/3	2022/3	2023/3	2024/3
Cash flows from operating activities	13,646	8,237	7,872	10,985	7,687
Cash flows from investing activities	(5,118)	(481)	(75,155)	(9,305)	(12,110)
Cash flows from financing activities	(6,129)	(5,614)	(5,625)	(5,122)	(3,590)
Increase (decrease) in cash and cash equivalents	2,397	2,141	(72,909)	(3,441)	(8,012)
Cash and cash equivalents at beginning of the period	121,239	123,637	125,778	52,869	49,427
Cash and cash equivalents at end of the period	123,637	125,778	52,869	49,427	41,414