Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

October 29, 2021

Consolidated Financial Results
for the First Six Months of the Fiscal Year Ending March 31, 2022
(Under Japanese GAAP)
Company name:
Konishi Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4956
URL:
http://www.bond.co.jp/
Representative:
Keiichi Oyama, Representative Director and President
Inquiries:
Shozo Arisawa, Director and Senior Managing Executive Officer
TEL:+81-6-6228-2877
Scheduled date to file quarterly securities report:
November 11, 2021
Scheduled date to commence dividend payments:
December 10, 2021
Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing:
Yes (for analysts and institutional investors)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the first six months of the fiscal year ending March 31, 2022
(from April 1, 2021 to September 30, 2021)(1) Consolidated operating results (cumulative)
Net salesFirst six months ended
September 30, 2021
September 30, 2020

Operating profit

Millions of yen

Note: Comprehensive income(Percentages indicate year-on-year changes.)% Millions of yen

53,94349,807

8.3–

Profit attributable toowners of parent

Ordinary profit% Millions of yen

3,426
2,616

30.9
–

3,668
2,747

% Millions of yen

33.5
–

2,381
1,709

%

39.3
–

For the first six months ended September 30, 2021: ¥2,880 million [20.3%]
For the first six months ended September 30, 2020: ¥2,395 million[–%]
Basic earnings
per shareFirst six months ended
September 30, 2021
September 30, 2020

Diluted earnings per
share
Yen

Yen

66.87
47.37

–
–

Note: Konishi Co., Ltd. (the “Company”) has applied the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29, March 31, 2020) and relevant revised ASBJ regulations from the beginning of the first quarter ofthe current fiscal year, and each figure for the first six months ended September 30, 2020, is the figure after
retrospectively applying the accounting standard and relevant revised ASBJ regulations. Consequently, the percentageof year-on-year change of each figure for the first six months ended September 30, 2020, is not shown.

(2) Consolidated financial position
Total assets
As of
September 30, 2021
March 31, 2021
Reference:

EquityNet assets

Millions of yen

Millions of yen

113,622
113,800

70,871
68,785Equity-to-asset ratio
%

58.7
56.9

As of September 30, 2021:¥66,745 million
As of March 31, 2021:¥64,780 million
Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31,2020) and relevant revised ASBJ regulations from the beginning of the first quarter of the current fiscal year, andeach figure as of March 31, 2021, is the figure after retrospectively applying the accounting standard and relevant
revised ASBJ regulations.

2. Cash dividends
Annual dividends
First quarter-end
Fiscal year ended
March 31, 2021
Fiscal year ending
March 31, 2022

Second quarter-end Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

–

18.00

–

22.00

40.00

–

22.00
–

22.00

44.00

Fiscal year ending
March 31, 2022
(Forecast)

Note: Revisions to the forecasts of cash dividends most recently announced: None

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2022 (from April 1, 2021 toMarch 31, 2022)
Net sales

Fiscal year ending
March 31, 2022

(Percentages indicate year-on-year changes.)
Basic
Profit attributable toOrdinary profit
earnings perowners of parent
share

Operating profit

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

112,600

4.5

7,700

8.7

8,200

10.4

5,300

7.5

148.85

Note: Revisions to the consolidated earnings forecasts most recently announced: None

* Notes(1) Changes in significant subsidiaries during the first six months ended September 30, 2021 (changes in
specified subsidiaries resulting in the change in scope of consolidation): None
(2) Application of special accounting for preparing quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies other than (i): None(iii) Changes in accounting estimates: None(iv) Restatement: None
Note: For details, please refer to “2. Quarterly consolidated financial statements and significant notes
thereto (4) Notes to quarterly consolidated financial statements, Changes in accounting policies”
on page 11 of the financial results report (Attached Material).
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2021

40,707,440 shares

As of March 31, 2021

40,707,440 shares(ii) Number of treasury shares at the end of the period
As of September 30, 2021

5,067,361 shares

As of March 31, 2021

5,102,082 shares(iii) Average number of shares outstanding during the period
For the first six months ended September 30, 2021

35,620,226 shares

For the first six months ended September 30, 2020

36,094,180 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public
accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
Caution regarding forward-looking statements and others
Forward-looking statements, including the earnings forecasts stated in these materials, are based on
information currently available to the Company and certain assumptions deemed reasonable. Results
may differ materially from the earnings forecasts due to various factors. For the assumptions used as thebasis for the earnings forecasts and special remarks regarding the use of the earnings forecasts, pleaserefer to “1. Qualitative information regarding financial results for the first six months (3) Explanation of
consolidated earnings forecasts and other forward-looking statements” on page 4 (Attached Material).
Means of access to contents of supplementary material on quarterly financial results and quarterly
financial results briefing
The Company is scheduled to hold a quarterly financial results briefing for analysts and institutional
investors on Friday, November 26, 2021. The Company plans to upload the supplementary materials
used for the quarterly financial results briefing on this date on the Company website promptly after thebriefing has concluded.

Konishi Co., Ltd. (4956)

Attached Material
Index
1. Qualitative information regarding financial results for the first six months ............................................. 2(1) Explanation of operating results ......................................................................................................... 2(2) Explanation of financial position........................................................................................................ 3(3) Explanation of consolidated earnings forecasts and other forward-looking statements ..................... 4
2. Quarterly consolidated financial statements and significant notes thereto ............................................... 5(1) Consolidated balance sheet ................................................................................................................ 5(2) Consolidated statement of income (cumulative) and consolidated statement of comprehensive
income (cumulative) ........................................................................................................................... 7(3) Consolidated statement of cash flows ................................................................................................ 9(4) Notes to quarterly consolidated financial statements ....................................................................... 11
Notes on premise of going concern .................................................................................................. 11
Notes on significant changes in the amount of shareholders’ equity ................................................ 11
Changes in accounting policies ........................................................................................................ 11
Segment information ........................................................................................................................ 12
Reference: Supplementary Information on Financial Results for Six Months Ended September 30, 2021 .. 14-1-

Konishi Co., Ltd. (4956)

1. Qualitative information regarding financial results for the first six months(1) Explanation of operating results
During the six months ended September 30, 2021 (the first six months under review), Japan’s economy
continued to suffer from sluggish personal consumption and a contraction in business activity due tothe spread of COVID-19 and the re-issuance of semi-state of emergency coronavirus measures and thedeclaration of a state of emergency. However, the spread of infection has been settling down since
September. Going forward, restrictions are being eased and economic activity is expected to normalize,
although it is anticipated that it will take some time before activity returns to pre-pandemic levels.
In the main industries related to the Company and its subsidiaries (the “Group”), in the housing
industry, the number of new housing starts which had fallen after the spread of COVID-19 began torecover. In the automotive industry, the recovery trend continued, but from August onward, production
tended to decline due to shortages of semiconductors and parts following the spread of COVID-19 inSoutheast Asia.
In the civil engineering and construction work industry, demand for redevelopment of urban areas,
repair and improvement works of buildings, and demand for maintenance and mending of
infrastructure such as roads and railroads remained strong.
As a result, the Group’s operating results for the first six months under review were as follows. Net
sales increased 8.3% year on year to 53,943 million yen, operating profit increased 30.9% year on year
to 3,426 million yen, ordinary profit increased 33.5% year on year to 3,668 million yen, and profit
attributable to owners of parent increased 39.3% year on year to 2,381 million yen.
The “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) andother relevant standards have been applied from the beginning of the first quarter of the current fiscal
year, and comparative analysis is based on figures after retrospective application. For details, pleaserefer to “2. Quarterly consolidated financial statements and significant notes thereto (4) Notes toquarterly consolidated financial statements, Changes in accounting policies.”
Results by segment are as follows.
The Group’s business segments were “Bond,” “Civil Engineering and Construction,” and “Chemicals.”
However, from the first quarter of the current fiscal year, the business of adhesives, repair materials,
and sealants used in the civil engineering and construction field, which were included in “Civil
Engineering and Construction,” was transferred to “Bond,” and the business segments have beenreorganized as “Bond,” “Chemicals,” and “Construction.” This was due to the change in management
structure to further enhance the construction contracting business for repair, improvement andreinforcement of social infrastructure and building stock markets from April 2021 onwards.
The following comparisons with the same period of the previous fiscal year are based on figures
prepared in accordance with the new segment classifications.
(i) Bond (synthetic adhesive)
In the general household field, sales decreased due to a downturn in sales after special demand
from people staying home for convenience stores and sales through home improvement stores.
Sales of adhesives for interior work and adhesives for interior building materials in the housingrelated field, increased in line with the recovery of the number of new housing starts. Sales ofadhesives such as water-based adhesives for use in paper-related application, and elastic adhesives
for use in such applications as automotive and electrical components in the industrial material fieldalso significantly increased due to the favorable performance. In the construction field, sales ofmaterials used for building repairs and building sealants increased, partly reflecting the reaction to
the suspension of various construction projects in the same period of the previous fiscal year due tothe effects of COVID-19. Although sales did not reach levels prior to the spread of COVID-19 ineach field, sales were favorable overall due to a recovery trend.
In the civil engineering field, however, sales decreased due to the sluggish performance of methods
for surface protection and for preventing detachment partly because of the effects of extended-2-

Konishi Co., Ltd. (4956)

construction periods.
As a result of the above, net sales increased 9.7% year on year to 30,608 million yen and operating
profit increased 24.5% year on year to 2,251 million yen.
(ii) Chemicals
In the chemical engineering field, although sales of ethanol-related products fell in reaction to lastyear’s emergency demands, sales of resin materials were strong, and sales increased significantly.
In the automotive field, sales of products used in automotive electrical components increased
significantly in reaction to the significant impact of COVID-19 in the same period of the previous
fiscal year. In addition, sales also increased for products for use with heat dissipation adhesives inthe electronic and electrical field and products for use in the coating materials field.
Sales at MARUYASU & CO., LTD. significantly increased due to the strong performance of
products for use in semiconductor manufacturing and products for use in capacitors.
As a result of the above, net sales increased 23.0% year on year to 15,665 million yen andoperating profit increased 138.6% year on year to 489 million yen.
(iii) Construction
In the Civil Engineering and Construction Business, sales decreased given large orders forconstruction projects last year but were in line with plan. In addition, the orders of repair,
improvement, and reinforcement works in the infrastructure, particularly for public works, andused building markets were strong.
As a result of the above, net sales decreased 16.2% year on year to 7,572 million yen and operating
profit increased 26.5% year on year to 635 million yen.
(iv) OtherThe Other segment represents the Real Estate Rental Business, etc. Net sales decreased 22.4% year
on year to 97 million yen and operating profit decreased 57.3% year on year to 40 million yen.
(2) Explanation of financial position
Assets, liabilities and net assets
Total assets as of September 30, 2021 decreased by 178 million yen from the previous fiscal year-end
to 113,622 million yen.
(i) Assets
Current assets decreased by 100 million yen from the previous fiscal year-end to 75,888 million
yen mainly due to a decrease of 6,984 million yen in notes and accounts receivable - trade, andcontract assets, despite an increase of 4,475 million yen in electronically recorded monetary claims- operating and an increase of 2,185 million yen in cash and deposits. Non-current assets decreased
by 78 million yen from the previous fiscal year-end to 37,733 million yen mainly due to a decreaseof 113 million yen in buildings and structures.
(ii) Liabilities
Current liabilities decreased by 2,187 million yen from the previous fiscal year-end to 37,245
million yen mainly due to a decrease of 669 million yen in notes and accounts payable - trade, adecrease of 562 million yen in income taxes payable and a decrease of 271 million yen inelectronically recorded obligations - operating. Non-current liabilities decreased by 78 million yen
from the previous fiscal year-end to 5,504 million yen mainly due to a decrease of 131 million yen
in long-term borrowings.
(iii) Net assets
Net assets increased by 2,086 million yen from the previous fiscal year-end to 70,871 million yen
mainly due to an increase of 1,598 million yen in retained earnings.

-3-

Konishi Co., Ltd. (4956)(iv) Cash flows
Cash and cash equivalents (hereinafter “cash”) increased by 1,685 million yen during the first six
months under review (569 million yen decrease year on year). This comprised net cash provided byoperating activities of 4,369 million yen (740 million yen increase year on year), net cash used ininvesting activities of 1,781 million yen (608 million yen decrease year on year), and net cash usedin financing activities of 978 million yen (810 million yen decrease year on year).
As a result, the balance of cash as of September 30, 2021 amounted to 25,407 million yen.
(i) Cash flows from operating activities
Net cash provided by operating activities was 4,369 million yen (up 740 million yen year on year).
This was mainly due to profit before income taxes of 3,677 million yen, a decrease in tradereceivables and contract assets of 2,597 million yen, and depreciation of 1,057 million yen, despite
income taxes paid of 1,683 million yen, and a decrease in trades payables of 1,004 million yen.
(ii) Cash flows from investing activities
Net cash used in investing activities was 1,781 million yen (down 608 million yen year on year).
This was mainly due to purchase of property, plant and equipment of 1,912 million yen.
(iii) Cash flows from financing activities
Net cash used in financing activities was 978 million yen (down 810 million yen year on year).
This was mainly due to dividends paid of 780 million yen.
(3) Explanation of consolidated earnings forecasts and other forward-looking statements
The earnings forecasts have been changed from the earnings forecasts announced in the financial
results on April 30, 2021. For details, please refer to the “Notice of Revisions to Earnings Forecasts”
announced on September 24, 2021.
For the forecasts of cash dividends, please refer to the “Notice of Dividend (Increase in Interim
Dividend) and Revision of Year-end Dividend Forecast” announced on October 22, 2021.

-4-

Konishi Co., Ltd. (4956)

2. Quarterly consolidated financial statements and significant notes thereto(1) Consolidated balance sheet(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, andcontract assets
Electronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-5-

As of September 30, 2021

23,876

26,062

38,72731,743

4,588

9,063

6,254
248
1,039
1,302
(48)
75,989

6,386
252
1,182
1,247
(50)
75,88812,462
13,34925,812991

12,34913,29925,648
928

8,005
3,020
(18)
11,00737,811
113,800

8,241
2,932
(18)
11,15637,733
113,622

Konishi Co., Ltd. (4956)(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-6-

As of September 30, 2021

29,525
3,116
48
81
1,617
1,108

28,856
2,845
53
99
1,054
1,173

113

45

3,821
39,433

3,117
37,245

440
836
4,305
5,582
45,015

309
875
4,319
5,504
42,7504,603
4,526
57,596(5,541)
61,185

4,603
4,544
59,195(5,503)62,839

2,643

2,774

(0)
(66)
1,019
3,595
4,004
68,785
113,800

0
121
1,010
3,906
4,125
70,871
113,622

Konishi Co., Ltd. (4956)(2) Consolidated statement of income (cumulative) and consolidated statement of comprehensive
income (cumulative)
Consolidated statement of income (cumulative)(Millions of yen)Six months ended
September 30, 2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodDepreciation
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on valuation of investment securities
Loss on sale of investment securities
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-7-

Six months ended
September 30, 2021

49,80739,535
10,271
7,655
2,616

53,94342,731
11,212
7,786
3,426

6
106

3
112

–

7

85
198

143
267

6

5

6

–

12
42
67
2,747

12
7
25
3,668

3
–
3

5
17
22

–
4
14
19
2,732
960
(47)
913
1,818
109
1,709

11
–
1
12
3,677
1,141
26
1,168
2,509
127
2,381

Konishi Co., Ltd. (4956)

Consolidated statement of comprehensive income (cumulative)(Millions of yen)Six months ended
September 30, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-8-

Six months ended
September 30, 2021

1,818

2,509

571
0
(40)
46

170
0
210
(8)

(1)

(1)

576
2,395

371
2,880

2,220

2,693

174

187

Konishi Co., Ltd. (4956)(3) Consolidated statement of cash flows(Millions of yen)Six months ended
September 30, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of investment securities
Loss (gain) on disposal of property, plant andequipment
Loss (gain) on sale of property, plant and equipment
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Decrease (increase) in trade receivables and contract
assetsDecrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Increase (decrease) in other non-current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Proceeds from sale and redemption of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from purchase of shares of subsidiaries
resulting in change in scope of consolidation
Proceeds from cancellation of insurance funds
Other, net
Net cash provided by (used in) investing activities-9-

Six months ended
September 30, 2021

2,732
862
97
4

3,677
1,057
111
(17)

1

0

0

(5)

(0)

1

44

64

(55)

(68)

29
79
(112)
6

13
25
(116)
5

6

(7)

4,611

2,597

358
(3,431)
(491)
10
36
4,789
113
(6)
(1,266)
3,629

(268)
(1,004)
(364)
(59)
298
5,943
114
(5)
(1,683)
4,369

(747)
73
292
(2,027)
11
(38)
(34)
14

(510)
10
–
(1,912)
724
(99)
(35)
44

9

–

52
4
(2,389)8(11)(1,781)

Konishi Co., Ltd. (4956)(Millions of yen)Six months ended
September 30, 2020
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease obligations
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 10 -

Six months ended
September 30, 2021

23
60
(212)
(11)
(752)
(833)
(62)
(1,788)

(4)
20
(134)
(12)
(0)
(780)
(66)
(978)

(20)

75

(569)
22,812
22,242

1,685
23,721
25,407

Konishi Co., Ltd. (4956)(4) Notes to quarterly consolidated financial statements
Notes on premise of going concern
Not applicable.
Notes on significant changes in the amount of shareholders’ equity
Not applicable.
Changes in accounting policies
Application of Accounting Standard for Revenue Recognition and relevant revised ASBJ regulations
The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No.
29, March 31, 2020) and relevant revised ASBJ regulations effective from the beginning of the firstquarter of the current fiscal year, and it has recognized revenue at the time the control of promised
goods or services is transferred to the customer at the amount expected to be received upon exchange ofsaid goods or services.
The major revisions due to the application of the accounting standard are as follows.
(1) Revenue recognition for agent transactions
Regarding revenue from the sale of products mainly in the Bond Business and the Chemicals Business,
the Company previously recognized the total amount of consideration received from customers asrevenue. However, for transactions in which the Company’s role in providing goods to customers isthat of an agent, the Company has changed to recognizing revenue as the net amount received from thecustomer less the amount paid to the supplier of the goods.
(2) Revenue recognition for construction contracts
In the past, the percentage-of-completion method was applied to construction contracts in theConstruction Business if the outcome of the contracted work was deemed certain, while the completedcontract method was applied to construction contracts that did not meet this requirement. However, theCompany has changed its method to recognizing revenue over a certain period of time as performanceobligations are satisfied. If the extent of progress toward satisfaction of the performance obligation
cannot be reasonably measured, revenue is recognized only to the extent of the actual cost incurred. If
the period between the date of commencement of the transaction in the contract and the time when theperformance obligation is expected to be fully satisfied is very short, the Company does not recognize
revenue over a certain period of time but recognizes revenue when the performance obligation is fully
satisfied.
(3) Revenue recognition for transactions including variable consideration
In the past, rebates, etc., mainly in the Bond Business and the Chemicals Business, were deducted fromnet sales when the amount was fixed. However, the method has been changed to reflect thesecomponents in the transaction price only to the extent that it is highly probable that there will be no
significant reversal of the accumulated amount of revenue recognized when the uncertainty regarding
variable consideration is subsequently resolved. In addition, sales discounts, which were previously
recorded as non-operating expenses, are now deducted from net sales.
This change in accounting policy has been applied retrospectively in principle, and the quarterly
consolidated financial statements and consolidated financial statements for the same period of theprevious fiscal year and the previous fiscal year adjusted retrospectively.
As a result, net sales, cost of sales, operating profit, and non-operating expenses for the first six months
ended September 30, 2020 decreased by 12,087 million yen, 11,986 million yen, 100 million yen, and98 million yen, respectively, and ordinary profit and profit before income taxes decreased by 2 million
yen each, compared with the results before the retrospective application.
As a result of the cumulative effect being reflected in the net assets at the beginning of the previous- 11 -

Konishi Co., Ltd. (4956)

fiscal year, the balance of retained earnings at the beginning of the previous fiscal year decreased by 42
million yen.
Due to the application of the Accounting Standard for Revenue Recognition and relevant revised ASBJ
regulations, “Notes and accounts receivable - trade,” which was presented in “Current assets” in the
consolidated balance sheet for the previous fiscal year, is now included in “Notes and accounts
receivable - trade, and contract assets” from the first quarter of the current fiscal year.
“Decrease (increase) in trade receivables,” which was presented in “Cash flows from operating
activities” in the consolidated statement of cash flows for the six months ended September 30, 2020, is
now included in “Decrease (increase) in trade receivables and contract assets” from the six months
ended September 30, 2021.
Application of Accounting Standard for Fair Value Measurement and Its Implementation Guidance
The Company applied the “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.
30, July 4, 2019) and its implementation guidance from the beginning of the first quarter of the current
fiscal year. Furthermore, the Company will prospectively apply the new accounting policies prescribedby the Accounting Standard for Fair Value Measurement and its implementation guidance inaccordance with the transitional treatments prescribed in Paragraph 19 of the Accounting Standard for
Fair Value Measurement and Paragraph 44-2 of the Accounting Standard for Financial Instruments(ASBJ Statement No. 10, July 4, 2019). The resulting effect on the quarterly consolidated financial
statements is nothing.
Segment information
1. Disclosure of net sales and profit or loss by reportable segment
Six months ended September 30, 2020
(Millions of yen)
Reportable segments

Amount inconsolidated
statement ofincome(Note) 3

Bond

Chemicals

Construction

Total

Other
(Note) 1(1) Revenues fromexternal customers

27,90812,734

9,039

49,682125

49,807–49,807(2) Intersegment sales
and transfers

186

50

–

236

42

278

(278)

–

Total

28,094

12,784

9,039

49,918167

50,085(278)

49,807

Segment profit

1,808

205

502

2,516

94

2,610

5

2,616

Total

Adjustments(Note) 2

Net sales

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the real estate
rental business.
2. Adjustments of segment profit represent eliminations for intersegment transactions.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.

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Konishi Co., Ltd. (4956)

Six months ended September 30, 2021
(Millions of yen)
Reportable segments
Total

Other
(Note) 1

Total

Adjustments(Note) 2

Amount inconsolidated
statement ofincome(Note) 3

Bond

Chemicals

Construction(1) Revenues fromexternal customers

30,60815,665

7,572

53,846

97

53,943–53,943(2) Intersegment sales
and transfers

149

77

0

226

41

268

(268)

–

Total

30,757

15,742

7,572

54,073

138

54,212(268)

53,943

Segment profit

2,251

489

635

3,376

40

3,416

9

3,426

Net sales

Notes: 1. The “Other” category is a business segment not included in reportable segments, and includes the real estate
rental business.
2. Adjustments of segment profit represent eliminations for intersegment transactions.
3. Segment profit is adjusted with operating profit in the consolidated statement of income.

2. Matters concerning changes to reportable segments
As stated in the “Changes in accounting policies” section, the Company has applied the“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) andrelevant revised ASBJ regulations from the beginning of the first quarter of the current fiscal
year and changed the accounting method for revenue recognition. Therefore, the measurement
method for profit or loss in the business segment has also changed.
Additionally, the Group’s business segments were “Bond,” “Civil Engineering andConstruction,” and “Chemicals.” However, from the first quarter of the current fiscal year, thebusiness of adhesives, repair materials, and sealants used in the civil engineering andconstruction field, which were included in “Civil Engineering and Construction,” wastransferred to “Bond,” and the business segments have been reorganized as “Bond,”“Chemicals,” and “Construction.” This was due to the change in management structure to further
enhance the construction contracting business for repair, improvement and reinforcement ofsocial infrastructure and building stock markets from April 2021 onwards.
The segment information for the first six months ended September 30, 2020 is disclosed basedon the new method of measuring profit or loss and the classification of reportable segments.
3. Disclosure of impairment loss on non-current assets or goodwill, etc. by reportable segment
Six months ended September 30, 2020
Significant changes in the amount of goodwill
In the Civil Engineering and Construction segment, the Company acquired the shares of Sansho
Construction Incorporated Company on July 29, 2020, making it a subsidiary. As a result, goodwillof 94 million yen was recorded under intangible assets in the six months ended September 30,
2020.
Six months ended September 30, 2021
Not applicable.

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Konishi Co., Ltd. (4956)

Reference: Supplementary Information on Financial Results for Six Months Ended September 30, 2021
1. Business performance and earnings forecasts (consolidated)(Millions of yen)
Fiscal year
Fiscal year
ending March ended March
31, 2022
31, 2021
Six months
ended
September
30, 2021(actual)

Full year(actual)Fiscal year ending March 31, 2022

Full year(forecast)

Changes(amount)

Changes(%)

Net sales

53,943

107,750

112,600

4,849

4.50%

Operating profit

3,426

7,082

7,700

617

8.72%

Ordinary profit

3,668

7,424

8,200

775

10.44%

Profit attributable to owners of parent

2,381

4,931

5,300

368

7.47%

2. Business performance and earnings forecasts by segment (consolidated)(Millions of yen)
Fiscal year
Fiscal year
ending March ended March
31, 2022
31, 2021
Six months
ended
September
30, 2021(actual)Bond
Chemicals
Construction
Other
Adjustments
Total

Net sales

Full year(actual)30,608

Fiscal year ending March 31, 2022

Full year(forecast)

58,284

Changes(amount)

62,352

Changes
(%)

4,067

6.98%

Operating profit

2,251

4,849

5,340

490

10.11%Net sales

15,66528,15130,800

2,648

9.41%

Operating profit

489

627

914

286

45.74%

7,572

21,062

19,265(1,797)(8.53)%

Operating profit

635

1,405

1,434

28

2.05%

Net sales
Net sales

97

252

183

(69)

(27.56)%

Operating profit

40

189

5

(184)

(97.37)%

Net sales

–

–

–

–

–

Operating profit

9

10

7

(3)

(31.61)%

Net sales

53,943

107,750

112,600

4,849

4.50%

Operating profit

3,426

7,082

7,700

617

8.72%

Note 1: As the Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ
Statement No. 29), etc., from the beginning of the fiscal year ending March 31, 2022, the above
consolidated financial results and forecasts are based on the application of this accounting
standard. The consolidated results for the previous fiscal year are calculated on the assumption thatthe relevant accounting standards were applied in the fiscal year ended March 31, 2021.
Note 2: The Group’s business segments were “Bond,” “Civil Engineering and Construction,” and“Chemicals. However, from the fiscal year ending March 31, 2022, the business of adhesives,
repair materials, and sealants used in the civil engineering and construction field, which were
included in “Civil Engineering and Construction,” was transferred to “Bond,” and the businesssegments have been reorganized as “Bond,” “Chemicals,” and “Construction.”
Note 3: Changes (amount and %) are presented in comparison with the same period of the previous fiscalyear.
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