Sales increased and income will be on a recovery track in the second half of the fiscal year.

Contents I. Results for the First Half of Fiscal Year Ending March 2019 Profit decreased mainly due to temporary expenses, despite sales growth thanks to an increase in cargo quantity. P. 3 II. Full-year Plan for the Fiscal Year Ending March 2019 Recovery trend expected in the second half P. 9 III. Progress of the Medium-term Business Plan Target: maintain operating income of 7.4 billion yen P. 15 IV. (Special Topic)Railway Business Railway Transportation Service in Eurasia P. 20 ALL Rights Reserved Copyright 2018 Nissin Corporation 2

Results for the First Half of Fiscal Year Ending March 2019 Profit decreased mainly due to temporary expenses, despite sales growth thanks to an increase in cargo quantity.

Summary of Financial Results for The First Half of Fiscal Year Ending March 2019 1st Half of FY Ended March 2018 1st Half of FY Ending March 2019 (Unit: million) Result Initial plan (Announced May 9) Result (Announced Nov. 6) vs. plan Year on year (%) (Amount) (%) (Amount) Net sales 107,735 111,000 109,464 98.6% (1,536) 101.6% 1,729 Operating income Operating income margin Ordinary income Profit attributable to owners of parent 3,248 3,200 2,824 88.3% (376) 86.9% (424) 3.0% 2.9% 2.6% (0.3)P - (0.4)P - 3,549 3,450 3,262 94.6% (188) 91.9% (286) 3,223* 2,150 2,203 102.5% 53 68.4% (1,019) * Including compensation for warehouse relocation, and other ALL Rights Reserved Copyright 2018 Nissin Corporation 4

Past Performance The long-term trend is upward despite the year-on-year fall in operating income. (Unit: million) 120,000 100,000 80,000 60,000 40,000 20,000 Net sales (Unit: million) 3,500 3,000 2,500 2,000 1,500 1,000 500 Operating income 0 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 0 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Results for 1st half Results for 1st half ALL Rights Reserved Copyright 2018 Nissin Corporation 5

Three-year Transition of Ocean and Air Cargo Quantities (The First Half of the Fiscal Year) Maintained a high level of cargo quantities overall. Ocean Exports (TEU) Air Exports (TON) 25,000 Mar. 2017 Mar. 2018 Mar. 2019 25,000 Mar. 2017 Mar. 2018 Mar. 2019 20,000 20,000 15,000 15,000 10,000 10,000 5,000 5,000 0 Japan Americas Europe Asia China 0 Japan Americas Europe Asia China 25,000 20,000 15,000 10,000 5,000 0 Ocean Imports (TEU) Mar. 2017 Mar. 2018 Mar. 2019 Japan Americas Europe Asia China Air Imports (Transactions) 30,000 Mar. 2017 Mar. 2018 Mar. 2019 25,000 20,000 15,000 10,000 5,000 0 Japan Americas Europe Asia China ALL Rights Reserved Copyright 2018 Nissin Corporation 6

Results for The First Half of Fiscal Year Ending March 2019 by Region-Operating Income Increase/Decrease The forwarding segment declined in the US and Europe. In Asia and China, expenses for the expansion of warehouses preceded growth. (Unit: million) 3,248 (22) (105) Japan logistics Japan travel service +37 (119) Japan real estate Americas (157) Europe (4) (69) +15 Others China Asia 2,824 Result for Sep. 2017 Result for Sep. 2018 ALL Rights Reserved Copyright 2018 Nissin Corporation 7

Review of Causes of Profit Increase/Decrease (Unit: million) Domestic Japan logistics Japan travel service Japan real estate Year on year (22) (105) 1st Half of FY Ending March 2019: Results Cause Retirement benefit obligations, depreciation of customs system, and damage from typhoons An increase in expenses for acquiring human resources and an increase in low-price, short-distance travel 37 Stability of lease contracts for commercial facilities Overseas Subtotal (90) Americas Europe Asia China (119) A decrease in spot cargos such as prototype cars despite the strong performance of warehouse operation (157) A fall in cargo volumes due to a decrease in UK car models (4) A high level of cargo volumes maintained in ASEAN (69) Expenses incurred for warehouse relocation Subtotal (349) ALL Rights Reserved Copyright 2018 Nissin Corporation 8

Full-year Plan for the Fiscal Year Ending March 2019 Recovery trend expected in the second half

Summary of Full-year Plan for the Fiscal Year Ending March 2019 Cargo quantities will remain at high levels and sales are expected to be in line with the forecast. Operating income is expected to recover from the fall in the first half despite the impact of natural disasters. March 2018 March 2019 (Unit: million) Result Initial plan (Announced May 9) Corrected plan (Announced Nov. 6) vs. plan Year on year (%) (Amount) (%) (Amount) Net sales 216,924 222,000 222,000 - - 102.3% 5,076 Operating income Operating income margin 6,389 6,400 5,800 90.6% (600) 90.8% (589) 2.9% 2.9% 2.6% (0.3)P - (0.3)P - Ordinary income 6,869 6,900 6,300 91.3% (600) 91.7% (569) Profit attributable to owners of parent 5,210* 4,300 4,100 95.3% (200) 78.7% (1,110) * Including compensation for warehouse relocation, and other ALL Rights Reserved Copyright 2018 Nissin Corporation 10

Full-year Plan for March 2019 by Region (Operating Income) March 2018 March 2019 (Unit: million) Japan logistics Japan travel service Japan real estate Result Initial plan (Announced May 9) Corrected plan (Announced Nov. 6) vs. initial plan (Amount) Year on year (Amount) 2,547 2,467 2,544 77 (3) 799 759 688 (71) (111) 770 770 827 57 57 Americas 244 324 73 (251) (171) Europe 242 202 37 (165) (205) Asia 1,088 1,158 1,073 (85) (15) China 574 624 435 (189) (139) * The figures are internally aggregated values (before consolidation adjustment) to explain the performance of each region in an easy-to-understand manner. ALL Rights Reserved Copyright 2018 Nissin Corporation 11

Full-year Plan for March 2019 by Region-Operating Income Increase/Decrease Get on track to recovery through the growth in cargo quantities in Japan and Asia. (Unit: million) 6,389 (3) (111) +57 Japan real estate Japan travel service Japan logistics (171) Americas (205) Europe (15) (139) Asia China (2) Others 5,800 Result for March 2018 Corrected plan for March 2019 ALL Rights Reserved Copyright 2018 Nissin Corporation 12

Fiscal Year Ending March 2019: Efforts to Reach Targets Build a system of steady growth by enhancing our strengths. Japan Americas Europe Asia Increase the handling of finished vehicle exports. Increase profitability by revising prices and raising efficiency. Further grow segments with strong performance by extending the warehouse operation in the US. Expand the non-automobile business in Mexico and diversify the business platforms. Expand and enhance the UK automobile business. Expand the warehouse business in Germany. Improve sales targeting Global Account customers. Accelerate the process of turning a profit from the new warehouses. China Enlarge the warehouse business. ALL Rights Reserved Copyright 2018 Nissin Corporation 13

Dividend Policies We plan to increase the dividend by 5 yen to make it 55 yen per share for FY ending March 2019 in an effort to improve our shareholder returns. 60 55 50 45 40 35 30 25 20 15 10 5 0 Left: Dividend per share Right: Dividend payout ratio (%) Mar. 2011 Mar. 2012 Mar. 2013 Mar. 2014 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Plan (Note) A reverse split of 5 common stocks into 1 stock was performed with October 2017 as the effective date. The amounts stated take the reverse split into consideration. ALL Rights Reserved Copyright 2018 Nissin Corporation 14 40 35 30 25 20 15 10 5 0

Progress of the Medium-term Business Plan Target: maintain operating income of 7.4 billion yen

Steady Implementation of Priority Measures Progress in priority segments Progress in investments in line with the plan Steady growth of income and expenditure based on automobile-related business Improve the profitability of domestic businesses Reduction of workload through improvement of operation flows Initiation of office work automation by implementing RPA Visualization of storage efficiency by introducing KPIs in the workplace Materials for results briefing released on May 25, 2018 Strengthen the fundamentals of group management Improvement of responses to risks Improvement of internal audits Revision of the charter of corporate behavior and thorough communication of corporate philosophy including subcontractors Introduction of shared services Unification of closing dates ALL Rights Reserved Copyright 2018 Nissin Corporation 17

Steady Growth of Three Segments as the Backbones of Growth under the Medium-term Business Plan Automobiles Growth achieved in transportation in Asia Chemicals and Hazardous items Fully occupied facilities in Japan, acceleration of overseas expansion Foods 2017.3 2022.3 2017.3 2022.3 2017.3 2022.3 Improvement of Global Account strategies Materials for results briefing released on May 25, 2018 ALL Rights Reserved Copyright 2018 Nissin Corporation 18

Summary Results for the First Half of Fiscal Year Ending March 2019 Profit decreased mainly due to temporary expenses, despite sales growth thanks to an increase in cargo quantity. Full-year Plan for the Fiscal Year Ending March 2019 Recovery trend expected in the second half Progress of the Medium-term Business Plan Target: maintain operating income of 7.4 billion yen ALL Rights Reserved Copyright 2018 Nissin Corporation 19

Railway Transportation Service in Eurasia Block train of the Trans-Siberian Railway (photo provided by Russian Railways)

Nissin Corporation as a Pioneer of Railway Transportation 1992 Launched the China Land Bridge service of container transportation for Kazakhstan using a cross-china railway, departing from Japan 1965 Launched railway transportation in the Siberian Land Bridge as the first Japanese logistics company to do so 2017 Provided railway transportation from China to Vietnam as the first Japanese logistics company to do so 2008 Established a railway transportation company jointly with a subsidiary of the state-owned Vietnam Railways 2018 Provided Japan-China-Europe railway transportation using containers of China Railway Express for the first time in Japan 2014 Launched railway transportation between Jakarta and Surabaya ALL Rights Reserved Copyright 2018 Nissin Corporation 21

External Environment of Railway Transportation Business The following are four of the factors in the external environment of the railway transportation business. (1) Attracting attention as the third option for transportation While marine transportation has been mainly used as the means of transportation from Japan to Europe, railway transportation is again being seen as an alternative for ensuring business continuity in view of geopolitical risks. (2) EPA (Economic Partnership Agreement) The EU-Japan Economic Partnership Agreement was signed this year and is expected to be adopted by the European Parliament next month, and cargo quantity between Japan and the EU are likely to increase in the future. (3) Environment-friendly logistics The CO2 emissions of railway transportation are less than those of other modes of transportation, and in particular, the Trans-Siberian Railway uses all-electric trains, which makes a significant contribution to the reduction of emissions. (4) The Ministry of Land, Infrastructure, Transport, and Tourism s pilot project aimed at promoting the use of the Trans-Siberian Railway After Russian President Vladimir Putin visited Japan in December 2016, the Ministry has been investing in and promoting the use of the Trans-Siberian Railway since fiscal 2017. ALL Rights Reserved Copyright 2018 Nissin Corporation 22

Initiatives of Nissin Corporation (1) Establishment of an international railway promotion office We established the office in the business strategy division of the head office in April 2018 for the purpose of the unified management of Nissin Corporation s railway business across the Eurasian Continent. (2) Activities of the Trans-Siberian Intermodal Operators Association of Japan (TSIOAJ) As the managing company of TSIOAJ, which was established in 1975, Nissin Corporation provides the chairperson and operates the secretariat and has been working to reconnect the Siberian Land Bridge and Europe in cooperation with Russian Railways and the MLIT. (3) Implementation of all kinds of test transportation Unified Japan-China-Europe Sea and Rail Transportation Service (trademark application pending) In June 2018, transported goods from the Port of Yokohama to Hamburg through Lianyungang Siberian railway transportation service ( Nissin Eurussian Express (trademark registered in August 2018)) In August 2018, Nissin transported the cargo of a major Japanese beverage manufacturer from the Port of Kobe to Moscow through Vostochny in 15 days! Since November 2018, Nissin has been conducting the trial transportation of cargo of a major Japanese construction equipment manufacturer from the Port of Yokohama to a city near Moscow via Vladivostok. ALL Rights Reserved Copyright 2018 Nissin Corporation 23

Information about the North South Railway in Vietnam Growing social demand for reduction of environmental load In 2008, Nissin founded a company to run a railway transportation business jointly with Vietnam Railways. Demand from environment-conscious customers increasing. In 2013, the company commenced the operation of block trains. Nissin is promoting further investment in the Vietnam railway business. Hanoi Ho Chi Minh App. 1,700 km Car wagon developed by Nissin Corporation Block train using Nissin Corporation s containers ALL Rights Reserved Copyright 2018 Nissin Corporation 24

Notes on Performance Plan This material contains plans and forecasts regarding the future performance of our group, such as net sales and profits. The forecasts are based on judgements and assumptions using the information that our group is able to understand and obtain at the present time, and may differ significantly from actual performance, etc. ALL Rights Reserved Copyright 2018 Nissin Corporation 25