income tax payable 4.49 1.35 3.14 232.67% Other current liabilities 21.90 24.89 (2.99) -12.01% Total current liabilities 797.74 857.80 (60.06) (7.00%) Non-current liabilities Long-term bank borrowings

liabilities increased by Bath 179.47 million due to; a. An increase in short - term loan from financial institutions (promissory note) at the amount of Baht 142 million for the Company’s working capital and

are some issues inconsistent with the generally accepted accounting standards, as follows:          1. NIPPON has not recorded liabilities on promissory notes and current account with a local bank

companies investing in previously approved instruments with maturity dates ? e.g., promissory notes issued by commercial banks or finance companies, bills of exchange issued by commercial banks and repurchase

& Analysis Q3/2023 5 I 10 In 9M2023, financial costs amounted to THB 19.80 million, increased by THB 3.99 million YoY (+25.25%) as the Company used more promissory notes to improve its liquidity and ensure

promissory notes to improve its liquidity and ensure sufficiency of working capital. Additionally, interest rates were increased in line with Bank of Thailand announcement. In 2023, the Company’s net profit

the increase in promissory notes which the Company issued to increase its liquidity, resulting in increased financial costs. In 2022, net profit amounted to THB 205.67 million, decreased by THB 224.52

Company’s interest income for 2018 was THB 4.70 million, which increased by THB 2.97 million from 2017. This was a result of the Company receiving interests from short-term loans in the form of promissory

the 1st quarter of 2019 were Baht 0.80 million, which had decreased from the 1st quarter of 2018 by Baht 2.58 million mainly due to interest income of promissory note amounting to Baht 2.20 million

promissory notes 224.62 281.50 (20.21) 18.17 (52.82) (72.61) Interest paid on loans 637.70 439.80 45.01 188.53 0.78 72.95 Interest on debentures 1,270.06 1,048.15 21.17 401.05 7.27 43.96 Total Interest