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, 2024
[Japanese GAAP]May 14, 2024
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
Contact: Kazuo Oshima
Senior Managing Director General Manager of Corporate Planning Division
Phone: +81-3-5211-0066
Scheduled date of Annual General Meeting of Shareholders: June 25, 2024
Scheduled date of commencing dividend payments: June 10, 2024
Scheduled date of filing annual securities report: June 25, 2024
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Scheduled to be distributed as a video)(Amounts of less than one million yen are rounded down.)
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2024
March 31, 2023

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

5,266
4,761

10.6
11.8

1,068
958

11.5
10.8

1,070
960

11.4
11.0

790
651

21.4
7.4

Basic earnings per Diluted earnings per Rate of return on
share
share
equityOrdinary profit tototal assets ratio

YenYen%Fiscal year ended
March 31, 2024
68.29
67.8516.3
March 31, 2023
56.53
56.18
14.7
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

Operating profit tonet sales ratio

%%

15.4
15.6
¥
¥

20.3
20.1
- million- million(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

Millions of yen

7,323
6,620
As of March 31, 2024:
As of March 31, 2023:

Capital adequacy ratio

¥¥

5,084
4,624
5,065 million
4,607 million

Net assets per share%

Yen

69.2
69.6

436.77399.63(3) Non-consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2024
March 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

738
210

(250)
(210)

(379)
(336)

1,707
1,598

2. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total

Fiscal year ended

YenYenYenYen

March 31, 2023

-

0.00

-

31.50

31.50

March 31, 2024

-

0.00

-

37.50

37.50

-

0.00

-

38.00

38.00

Total
dividends

Dividends
to netassets

Payoutratio

Yen Millions of yen%%

380

55.7

8.2

453

54.9

9.0

Fiscal year ending
March 31, 2025

55.3

(Forecast)
3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025 (April 1, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Net sales

Six months ending
September 30, 2024
Full year

Operating profitOrdinary profit

Basic earnings pershareNet income

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

2,430

0.95551.8555

1.5407

1.2

35.01

5,300

0.6

1,090

2.0

1,090

1.8

800

1.2

68.67

* 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, 2024:
12,775,900 shares
March 31, 2023:
12,775,900 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
1,177,199 shares
March 31, 2023:
1,247,340 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
Fiscal Year ended March 31, 2023:

11,578,831 shares
11,518,925 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, 2024
[Japanese GAAP]

Non-consolidated Financial Statements
Non-consolidated Balance Sheets(Thousands of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Contract assets
SecuritiesWork in process
Prepaid expenses
OtherTotal current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, netTools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Total property, plant and equipment
Intangible assets
Patent right
Trademark right
Software
Software in progress
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 assetsAs of March 31, 2024

1,598,566
1,224,877
2,495,375
20,0009,390
76,41047,6885,472,308

1,707,531
1,867,797
2,126,525
21,35991,96457,474
5,872,652

127,325(72,595)
54,730166,506(137,092)
29,41384,144

127,325(78,841)
48,483
181,778(152,986)
28,792
77,276778
766
46,26347,809505
678
95,051
11,100107,335

300,000
423,90223,241
152,814
116,583
1,016,543
1,148,497
6,620,805

450,000
498,243
35,878152,210130,346
1,266,678
1,451,290
7,323,942

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP](Thousands of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Accounts payable - otherAccrued expenses
Income taxes payable
Accrued consumption taxes
Contract liabilities
Deposits received
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for share awards
Provision for loss on project contracts
Total current liabilities
Non-current liabilities
Long-term accounts payable - other
Provision 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, 2024

28,720139,563
115,907
307,841
102,063
3,659
39,627
478,890

103,784
217,022
130,490
173,371
100,763
10,00846,213621,151

16,00026,00030,527269
1,263,071

34,486
1,463,291

198,092
535,629
733,722
1,996,793

198,092
577,614775,706
2,238,997

543,404

543,404

349,676
323,350
673,027

349,676
333,436
683,113

6,159

6,159

300,000
3,754,731
4,060,890(670,157)
4,607,164
16,8484,624,012
6,620,805

300,000
4,165,326
4,471,485(632,019)
5,065,984
18,9605,084,944
7,323,942

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]

Non-consolidated Statements of Income(Thousands of yen)
For the fiscal year
ended March 31, 2023
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
Administrative service fee income
Subsidy income
Other
Total non-operating income
Non-operating expenses
Foreign exchange losses
Loss on retirement of non-current assets
Loss on cancellation of insurance policies
Other
Total non-operating expenses
Ordinary profit
Profit before income taxesIncome taxes - current
Income taxes - deferred
Total income taxes
Profit

For the fiscal year
ended March 31, 2024

4,761,955
2,228,606
2,533,349
1,574,792
958,556

5,266,180
2,494,931
2,771,249
1,702,484
1,068,764

63
850
635
500
133
2,181

380
868
635
186
2,070

0
15
16
960,721960,721403,271(93,761)
309,509651,211

0
475
0
476
1,070,359
1,070,359
353,944(74,340)
279,604
790,755

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2024[Japanese GAAP]

Non-consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Thousands of 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 of
period543,404

349,676

316,569

666,2456,781

6,781

6,159

300,000

Total
retainedearnings

3,440,471

3,746,630(336,951)(336,951)

651,211651,211

-

-

6,781

6,781

-

-

314,259

314,259

543,404

349,676

323,350

673,027

6,159

300,000

3,754,731

4,060,890

Share
Total
acquisition
Treasuryshareholders'
rightssharesequityTotal net
assets(685,801) 4,270,479

4,283,727

Shareholders' equity

Balance at beginningof period
Changes duringperiod
Exercise 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

Other retained earnings
RetainedGeneralearnings
reservebrought
forwardLegal
retainedearnings

13,248--(336,951)(336,951)

651,211651,211

(29)

(29)

(29)

15,67322,45522,455
3,600

3,600

336,685

3,600

340,285(670,157) 4,607,164

16,8484,624,012

15,643

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]For the fiscal year ended March 31, 2024
(Thousands of 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 of
period543,404

349,676

323,350

673,027

888

888

9,198

9,198

6,159

300,000

Total
retainedearnings

3,754,731

4,060,890(380,159)(380,159)

790,755

790,755--

10,086

10,086--

410,595

410,595

543,404

349,676

333,436

683,1136,159

300,000

4,165,326

4,471,485

Share
Total
acquisition
Treasuryshareholders'rights
sharesequityTotal net
assets(670,157) 4,607,164

4,624,012

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 earningsRetainedGeneralearnings
reservebrought
forwardLegal
retainedearnings

2,718

35,42016,848

3,606

3,606

(380,159)(380,159)

790,755

790,755--

44,61844,618
2,112

2,112

458,8202,112

460,932(632,019) 5,065,984

18,9605,084,944

38,138

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]

Non-consolidated Statements of Cash Flows(Thousands of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Loss on retirement of non-current assets
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for retirement benefits
Increase (decrease) in provision for share awards
Increase (decrease) in provision for loss on projectcontracts
Interest and dividend income
Decrease (increase) in accounts receivable - trade, andcontract assets
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in contract liabilities
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
Proceeds from sale of investment securities
Payments of leasehold deposits
Proceeds from refund of leasehold deposits
Payments 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
Purchase of treasury shares
Dividends paid
Net 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, 2024

960,72130,85815
202,630

1,070,359
37,1950142,260

16,00010,00048,79930,527

41,984
25,110(3,717)

(269)

(63)

(380)

(959,305)(274,069)

(40)
2,167
(24,380)
116,884
421,097
63(210,758)
210,402(11,969)
75,063
6,349
103,270
1,224,905
380(486,288)
738,997(18,498)(44,900)(100,000)(2,601)
2,841(15,424)(31,749)(210,331)(15,799)(74,055)(150,000)
20,000(801)
30(14,597)(14,967)(250,189)(29)(336,879)(336,908)(336,838)
1,935,404
1,598,566

6(379,849)(379,843)
108,964
1,598,566
1,707,531