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, 2020
[Japanese GAAP]May 15, 2020
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 Division

Contact: Kazuo Oshima

Phone: 03-5211-0066
Scheduled date of Annual General Meeting of Shareholders: June 24, 2020
Scheduled date of commencing dividend payments: June 08, 2020
Scheduled date of filing annual securities report: June 24, 2020
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2020 (April 01, 2019 to March 31, 2020)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2020
March 31, 2019

Operating profit

Ordinary profit

ProfitMillion yen%

Million yen%

Million yen%

Million yen%

4,353
5,598

(22.2)
(7.7)

902
774

16.6
27.9

906
780

16.2
27.7

639
561

13.8
30.2

Basic earnings per Diluted earnings per Rate of return on
share
shareequity

Ordinary profit tototal assets ratio

Yen
Yen%
Fiscal year ended
March 31, 2020
52.98
51.99
16.7
March 31, 2019
47.27
46.36
16.7
(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended March 31, 2020:
Fiscal year ended March 31, 2019:

Operating profit tonet sales ratio

%%

16.1
14.2
¥
¥

20.7
13.8
- million- million(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2020
March 31, 2019
(Reference) Equity:

Net assets

Million yen

Million yen

5,519
5,715
As of March 31, 2020:
As of March 31, 2019:

Capital adequacy ratio

¥¥

4,127
3,654
4,055 million
3,597 million

Net assets per share%Yen

73.5
62.9

333.97300.32(3) Non-consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2020
March 31, 2019

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen

(146)
244

(143)
(114)

(252)
(151)

1,834
2,376

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

Year-end

Total

Total
dividends

Dividends
to netassetsPayoutratio

Fiscal year ended

YenYenYen

YenYenMillion yen%%March 31, 2019-0.00-21.0021.00

251

44.4

7.4

March 31, 2020

-

0.00

-

21.50

21.50

261

40.6

6.8

-

0.00

-

12.00

12.00

Fiscal year ending
March 31, 2021

35.5

(Forecast)(Note) Breakdown of the tear-end dividend for the fiscal year ended March 31, 2019:
Common dividend
Commemorative dividend for the 40th term
Breakdown of the tear-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

16.00
5.00

yenyen16.50
5.00

yenyen3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021 (April 01, 2020 to March 31, 2021)(% indicates changes from the previous corresponding period.)
Net sales
Million yen

Six months ended
September 30, 2020
Full year

Operating profit% Million yen

Ordinary profit% Million yen

Basic earnings pershare

Net income% Million yen%Yen

1,861(11.1)

227(41.6)

227(42.1)

146(46.3)

11.96

3,945(9.4)

616(31.8)616(32.0)415(35.1)

33.81* 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, 2020:
12,775,900 shares
March 31, 2019:12,775,900 shares2) Total number of treasury shares at the end of the period:
March 31, 2020:
631,970 shares
March 31, 2019:798,225 shares
3) Average number of shares during the period:
Fiscal Year ended March 31, 2020:
Fiscal Year ended March 31, 2019:*This Financial Results is not subject to audit procedures.

12,071,698 shares
11,884,469 shares

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP]

1. Non-consolidated Financial Statements(1) Non-consolidated Balance Sheets(Thousand yen)
As of March 31, 2019
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable from completed construction
contracts
Accounts receivable - trade
Costs on construction contracts in progress
Prepaid expenses
OtherTotal 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
Construction in progress
Total property, plant and equipment
Intangible assets
Patent right
SoftwareTelephone 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― 1 ―As of March 31, 2020

2,376,148
117,180

1,834,097
99,3602,418,545

2,793,408

171
20,09968,860122,096
5,123,102

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

77,694(51,105)
26,589131,982(96,091)
35,891
2,730
65,21078,154(55,528)
22,625
151,121(108,503)
42,61865,244967
13,516
1,467
15,951775
14,901
1,467
17,144

329,398
20,302125,047
36,432
511,182592,3445,715,447

100,000
327,969
19,800125,153
55,077
628,000
710,389
5,519,596

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP](Thousand yen)
As of March 31, 2019
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
Provision for loss on construction contracts
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 capitalCapital surplus
Legal capital surplus
Other capital surplus
Total capital surpluses
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― 2 ―As of March 31, 2020

624,00983
110,343
104,719
193,115
64,15332,03022
47,174
83,930149,573104,277

1,572

4,252

37,384392,200
871
1,528,454

31,096355,728
808,086

199,841
332,635
532,476
2,060,931

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

543,404

543,404

349,676
109,779
459,455

349,676
157,681507,358

6,159

6,159

300,000
2,396,508
2,702,667(108,365)
3,597,162
57,3533,654,515
5,715,447

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

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP](2) Non-consolidated Statements of Income(Thousand yen)
For the fiscal year
ended March 31, 2019
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
Other
Total non-operating income
Non-operating expenses
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes - current
Income taxes - deferredTotal income taxes
Profit― 3 ―For the fiscal yearended March 31, 2020

5,598,521
3,371,853
2,226,668
1,451,941
774,726

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

204
1,303
919
2,190
1,378
5,995

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

196
250
447
780,274
780,274
269,200(50,732)
218,468
561,806

360
340
701
906,422
906,422265,392
1,429
266,821639,600

Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP](3) Non-consolidated Statements of Changes in Net Assets
For the fiscal year ended March 31, 2019
(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
sharesNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end of
period543,404

349,676

63,627413,303

46,152

46,1526,159

300,000

Total
retainedearnings

1,987,806

2,293,966(153,104)(153,104)

561,806

561,806--

46,152

46,152--408,701

408,701

543,404

349,676

109,779

459,455

6,159

300,000

2,396,508

2,702,667

Share
Total
acquisition
Treasuryshareholders'
rightssharesequityTotal net
assets(135,282) 3,115,392

3,179,998

Shareholders' equity

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

Other retained earnings
RetainedGeneralearnings
reservebrought
forwardLegal
retainedearnings

26,928(11)

64,60673,08073,080(153,104)(153,104)

561,806

561,806(11)(11)(7,253)(7,253)

481,770(7,253)474,516(108,365) 3,597,162

57,3533,654,515

26,916― 4 ―Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP]For the fiscal year ended March 31, 2020
(Thousand yen)
Shareholders' equity
Capital surplus

Retained earnings

Share capital Legal capital Other capital Total capitalsurplus
surplussurplus
Balance at beginningof period
Changes during
periodExercise of shareacquisition rights
Dividends ofsurplusProfitPurchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period543,404

349,676

109,779

459,455

47,90247,9026,159

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
Totalacquisition
Treasuryshareholders'rights
sharesequityTotal net
assets(108,365) 3,597,162

3,654,515

Shareholders' equity

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

Other retained earnings
RetainedGeneralearnings
reservebrought
forwardLegal
retainedearnings

22,616(27)

57,35370,51970,519(251,531)(251,531)

639,600

639,600(27)(27)
13,965

13,965458,561

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

71,3194,127,042

22,588― 5 ―Meiho Facility Works Ltd.(1717)
Non-consolidated Financial Results for the Year Ended March 31, 2020 [Japanese GAAP](4) Non-consolidated Statements of Cash Flows(Thousand yen)
For the fiscal year
ended March 31, 2019
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
Dividends paid
Other, net
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― 6 ―For the fiscal year
ended March 31, 2020

780,274
24,06091,772
46,856(204)(234,671)

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

7,836

10,563(277,535)(592,040)(10,304)

2,679

565

(871)

9,759
438,4103(193,847)
244,565

145,484
159,96038(306,097)(146,098)(50,296)(8,998)(40,533)226
10,040(25,066)(114,628)(23,043)(7,700)(100,000)(591)(19,800)
20,302(12,901)(143,733)

141(151,554)(11)(151,424)(21,487)
2,397,635
2,376,148

101(252,292)(27)(252,218)(542,050)
2,376,148
1,834,097