Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]May 14, 2021
Company name: Meiho Facility Works Ltd.
Stock exchange listing: Tokyo
Code number: 1717
URL: https://www.meiho.co.jp/
Representative: Yoshi Onuki

President and Representative Director
Executive Director General Manager of Corporate Planning
DivisionContact: Kazuo Oshima

Phone: 03-5211-0066
Scheduled date of Annual General Meeting of Shareholders: June 25, 2021
Scheduled date of commencing dividend payments: June 08, 2021
Scheduled date of filing annual securities report: June 25, 2021
Availability of supplementary briefing material on annual financial results: Yes
Yes
Schedule of annual financial results briefing session: (Scheduled to be distributed as a video for the purpose of preventing thespread of covid-19 infection)(Amounts of less than one million yen are rounded down)
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 01, 2020 to March 31, 2021)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2021
March 31, 2020

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen

%

4,240
4,353(2.6)(22.2)

909
902

0.8
16.6

910
906

0.5
16.2

620
639

(3.0)
13.8

Basic earnings per Diluted earnings per Rate of return onshareshareequity

Ordinary profit tototal assets ratio

YenYen%Fiscal year ended
March 31, 2021
52.30
51.38
15.6
March 31, 2020
52.98
51.99
16.7
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2021:
Fiscal year ended March 31, 2020:

Operating profit tonet sales ratio

%%

16.5
16.1
¥
¥

21.5
20.7
- million- million(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2021
March 31, 2020
(Reference) Equity:

Net assets

Million yen

5,504
5,519
As of March 31, 2021:
As of March 31, 2020:

Capital adequacy ratio

Million yen¥¥

3,9664,127
3,907 million
4,055 million

Net assets per share%

Yen

71.0
73.5

343.49333.97(3) Non-consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2021
March 31, 2020

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen

590
(146)

(135)
(143)

(850)
(252)

1,438
1,834

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total

Total
dividendsDividends
to netassets

Payoutratio

Fiscal year ended

Yen

YenYenYen

Yen

Million yen%%March 31, 2020

-

0.00

-

21.50

21.50

261

40.6

6.8

March 31, 2021

-

0.00

-

26.00

26.00

309

49.7

7.7

-

0.00

-

28.00

28.00

Fiscal year ending
March 31, 2022

50.2

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2020 :Common dividend
Commemorative dividend for listing on the first section of the Tokyo Stock Exchange

16.50
5.00

yenyen3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 01, 2021 to March 31, 2022)(% indicates changes from the previous corresponding period.)
Net sales
Million yen

Six months ended
September 30, 2021
Full year

Operating profit% Million yen

Ordinary profit% Million yen

Basic earnings pershare

Net income% Million yen

%Yen

1,830

2.5

330

18.8

330

18.2

228

24.3

19.99

4,270

0.7

920

1.19201.06382.8

55.73* Notes:(1) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(2) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2021:
12,775,900 shares
March 31, 2020:
12,775,900 shares2) Total number of treasury shares at the end of the period:
March 31, 2021:
1,401,403 shares
March 31, 2020:
631,970 shares
3) Average number of shares during the period:
Fiscal Year ended March 31, 2021:
Fiscal Year ended March 31, 2020:

11,863,987 shares
12,071,698 shares(Note)We have introduced a stock benefit trust for employees (J-ESOP). Since the shares owned by the trust are shown as treasury
stock, they are included in the treasury stock in the calculation of the average number of shares during the period.
*This Financial Results is not subject to audit procedures.

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]

Non-consolidated Financial Statements
Non-consolidated Balance Sheets(Thousand yen)
As of March 31,2020
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable from completed construction
contracts
Accounts receivable - trade
Costs on construction contracts in progress
Supplies
Prepaid expenses
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Total property, plant and equipment
Intangible assets
Patent rightSoftwareTelephone subscription right
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Guarantee deposits
Leasehold deposits
Insurance funds
Total investments and other assets
Total non-current assets
Total assets

As of March 31,2021

1,834,097
99,3601,438,834
75,6002,793,408

3,084,692

40
9,536
67,9394,824
4,809,206

34
7,482
1,217
64,397
13,421
4,685,680

78,154(55,528)
22,625
151,121(108,503)
42,61865,244

123,225(59,630)
63,595
155,495(113,382)
42,113
105,708

77514,901
1,467
17,144

1,026
10,633
1,467
13,127100,000
327,969
19,800125,153
55,077
628,000
710,389
5,519,596

100,000
349,80219,800155,41475,156700,173
819,010
5,504,690

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP](Thousand yen)
As of March 31,2020
Liabilities
Current liabilities
Accounts payable for construction contracts
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Accrued consumption taxes
Advances received on construction contracts inprogress
Deposits received
Provision for bonuses
Total current liabilities
Non-current liabilities
Long-term accounts payable - otherProvision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Share acquisition rights
Total net assets
Total liabilities and net assets

As of March 31,2021

32,03022
47,174
83,930149,573
104,277

37,74029
88,354
98,021
198,528
50,545

4,252

57,65331,096355,728
808,086

33,715334,925
899,515

199,841
384,625
584,466
1,392,553

199,841
438,658
638,499
1,538,014

543,404

543,404

349,676
157,681507,358

349,676
303,788
653,464

6,159

6,159

300,000
2,784,577
3,090,737(85,776)
4,055,723
71,3194,127,042
5,519,596

300,000
3,143,964
3,450,123(739,935)
3,907,058
59,6173,966,675
5,504,690

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]

Non-consolidated Statements of Income(Thousand yen)
For the fiscal year
ended March 31,2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Gain on forfeiture of unclaimed dividends
Insurance return
Gain on reversal of subscription rights to shares
OtherTotal non-operating income
Non-operating expenses
Commission for purchase of treasury shares
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Cost of integration of offices
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit

For the fiscal year
ended March 31,2021

4,353,631
2,062,726
2,290,904
1,387,941
902,962

4,240,560
1,940,954
2,299,605
1,389,680
909,925

38
593
1,542
981
1,005
4,160

3358
651
839
1,852

360
340
701
906,422

1,035
0
1,035
910,742906,422265,392
1,429
266,821639,600

14,68914,689896,053
297,405(21,833)
275,572
620,481Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]

Non-consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31,2020(Thousand yen)
Shareholders' equity
Capital surplus

Retained earnings

Share capital Legal capital Other capital Total capitalsurplussurplussurplus
Balance at beginningof period
Changes during
periodExercise of shareacquisition rights
Dividends ofsurplus
ProfitPurchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

543,404

349,676

109,779

459,455

27,78327,783

20,11920,1196,159

300,000

Total
retainedearnings

2,396,508

2,702,667(251,531)(251,531)

639,600

639,600--

47,90247,902--

388,069

388,069

543,404

349,676

157,681507,358

6,159

300,000

2,784,577

3,090,737

Share
Total
acquisition
Treasuryshareholders'rights
sharesequityTotal net
assets(108,365) 3,597,162

3,654,515

Shareholders' equity

Balance at beginningof period
Changes during
periodExercise of shareacquisition rights
Dividends ofsurplus
ProfitPurchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Other retained earnings
Retained
Generalearnings
reservebrought
forwardLegal
retainedearnings

13,79057,353

41,574

41,574(251,531)(251,531)

639,600

639,600

(27)

(27)

(27)

8,826

28,94528,945
13,965

13,965458,561

13,965472,527(85,776) 4,055,723

71,3194,127,042

22,588

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]For the fiscal year ended March 31,2021(Thousand yen)
Shareholders' equity
Capital surplus

Retained earnings

Share capital Legal capital Other capital Total capitalsurplussurplussurplus
Balance at beginningof period
Changes during
periodExercise of shareacquisition rights
Dividends ofsurplus
ProfitPurchase of treasury
shares
Disposal of treasury
sharesNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

543,404

349,676

157,681507,358

20,92320,923

125,183

125,183

6,159

300,000

Total
retainedearnings

2,784,577

3,090,737(261,094)(261,094)

620,481620,481--

146,106

146,106--

359,386

359,386

543,404

349,676

303,788

653,464

6,159

300,000

3,143,964

3,450,123

Share
Total
acquisition
Treasuryshareholders'
rightssharesequityTotal net
assetsShareholders' equity

Balance at beginningof period
Changes duringperiod
Exercise of shareacquisition rights
Dividends ofsurplus
ProfitPurchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Other retained earnings
Retained
Generalearnings
reservebrought
forwardLegal
retainedearnings(85,776) 4,055,723

34,97471,3194,127,042

55,89755,897(261,094)(261,094)

620,481620,481(695,320)(695,320)(695,320)

6,188

131,371

131,371(11,702)(11,702)(148,665)(11,702)(160,367)(739,935) 3,907,058

59,617

3,966,675(654,158)

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2021
[Japanese GAAP]

Non-consolidated Statements of Cash Flows(Thousand yen)
For the fiscal year
ended March 31,2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for retirement benefits
Interest and dividend income
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts
in progress
Increase (decrease) in trade payables
Increase (decrease) in advances received on
construction contracts in progress
Increase (decrease) in provision for loss on
construction contracts
Other, net
SubtotalInterest received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Payments of leasehold deposits
Proceeds from refund of leasehold deposits
Payments of guarantee deposits
Proceeds from refund of guarantee deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from exercise of employee share options
Proceeds from disposal of treasury shares
Purchase of treasury shares
Dividends paid
Other, netNet cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

For the fiscal year
ended March 31,2021

906,422
29,155(36,472)
51,989(38)(356,911)

896,053
30,987(20,802)54,033(3)(267,517)

10,563

2,053(592,040)

5,717

2,679

53,400(871)-

145,484
159,96038(306,097)(146,098)

85,130
839,052
3(248,103)
590,951(23,043)(7,700)(100,000)(591)(19,800)
20,302(12,901)(143,733)(76,493)(701)(64,338)
33,362(27,542)(135,712)101(27)(252,292)(252,218)(542,050)
2,376,148
1,834,097

128
105,300(695,320)(259,574)(1,035)(850,502)(395,263)
1,834,097
1,438,834