Disclaimer: This document is a partial English translation of the Japanese original which is filed with the Tokyo Stock Exchange andis only for reference purposes. In case of any discrepancy between this translation and the Japanese original, the latter shall prevail.

Consolidated Financial Results
for the Nine Months Ended December 31, 2021
[Japanese GAAP]
February 8,2022
Company name: HAZAMA ANDO CORPORATION
Stock exchange listing: Tokyo Stock Exchange
Code number: 1719
URL: https://www.ad-hzm.co.jp/
Representative: Masato Fukutomi, Representative Director and President
Contact: Toshihisa Kino, Corporate Communication Department General Manager
Phone: +81-3-6234-3699
Scheduled date of filing quarterly securities report: February 8,2022
Scheduled date of commencing dividend payments:－
Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 1, 2021 to December 31,
2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Nine months ended
Million yen%
Million yen%
Million yen%
Million yen%
December 31, 2021
245,145(6.8)
18,981(4.0)
18,6742.0
13,0704.5
December 31, 2020
263,051(2.3)
19,762
16.9
18,314
11.6
12,507
13.3(Note)Comprehensive income: Nine months ended December 31, 2021: ¥12,342 million [(9.3)%]
Nine months ended December 31, 2020: ¥13,614 million [14.8%]
Basic earnings
per share

Nine months ended
December 31, 2021
December 31, 2020

Diluted earnings
per share
Yen

Yen

72.06
64.92

72.05
64.91

(2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Million yen%

As of December 31, 2021
274,829
143,409
As of March 31, 2021
339,387
146,676(Reference) Equity: As of December 31, 2021: ¥142,673 million
As of March 31, 2021: ¥145,915 million

51.9
43.0

2. Dividends
1stquarter-end
Fiscal year ended March 31, 2021
Fiscal year ending March 31, 2022

2ndquarter-end

Annual dividends
3rdYear-endquarter-end

Total

Yen

Yen

Yen

Yen

Yen

－
－

15.00
20.00

－
－

15.00

30.00

20.00

40.00

Fiscal year ending March 31, 2022
(Forecast)(Note) Revision to the forecast for dividends announced most recently: No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March
31, 2022)(% indicates changes from the previous corresponding period.)
Net sales
Million yen%

Operating profit

Ordinary profit

Million yen

Million yen%

Profit attributableto owners of parent% Million yen

Full year
339,000 (3.7)
24,900 (9.0)
23,400 (9.6)(Note) Revision to the financial results forecast announced most recently: Yes

15,800

Basic earnings
per share

%

Yen

(8.1)

87.78

* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2021 (changes in specified
subsidiaries resulting in changes in scope of consolidation): No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2021: 181,021,197 shares
March 31, 2021: 200,343,397 shares2) Total number of treasury shares at the end of the period:
December 31, 2021: 5,190,207 shares
March 31, 2021: 13,818,561 shares
3) Average number of shares during the period:
Nine months ended December 31, 2021: 181,394,873 shares
Nine months ended December 31, 2020: 192,654,680 shares
The Company has adopted a performance-linked stock remuneration plan using a trust. The Company’s shares heldby the trust (639,519 shares) are included in the total number of treasury shares at the end of the period and theaverage number of shares during the period is calculated and stated taking into account shares held by the trust.
* Explanation of the proper use of financial results forecast and other notes(1) The earnings forecasts and other forward-looking statements herein are based on information currently available to
the Company and certain assumptions deemed reasonable. Actual results may differ significantly due to a wide range
of factors.

１. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Costs on construction contracts in progress
Other inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of December 31, 2021

129,317

41,168

121,461

139,654

5,593
8,823
9,023
(12)
274,206

5,014
8,577
14,297(14)
208,697

15,79913,75529,555
1,505

15,811
13,491
29,303
1,477

21,697
7,819
4,605
(1)
34,12065,181
339,387

20,857
8,082
6,412
(1)
35,35066,131
274,829

(Million yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Short-term borrowings
Current portion of bonds
Advances received on construction contracts inprogress
Provision for warranties for completed construction
Provision for bonuses
Provision for loss on construction contracts
Provision for loss on damage due to fire
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Provision for environmental measures
Provision for management board incentive plan trust
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-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

2

As of December 31, 2021

70,624

41,10816,312291

17,107291

27,385

16,705

2,129
2,595
1,248
5,996
47,176
173,761

1,533
651
663
4,509
33,363
115,935

400
8,271
37
8,857
139
116
1,127
18,949
192,710

254
9,541
35
3,933
138
185
1,394
15,484131,419

17,006
19,919115,086(10,187)
141,824

17,006
17,058109,525(4,299)139,290

3,754
55
281
4,091
3
758
146,676
339,387

3,010
54
317
3,382
0
736
143,409274,829

(2) Quarterly Consolidated Statements of Income and Comprehensive Income(Quarterly Consolidated Statements of Income)(Nine Months Ended December 31)(Million yen)
For the nine months
ended December 31, 2020

For the nine months
ended December 31, 2021

249,767
13,283
263,051

227,195
17,949245,145

217,100
10,767
227,867

195,946
15,165211,11232,6672,516
35,183
15,421
19,762

31,2482,784
34,032
15,051
18,981

154
－
23
106
284

140
166
147
123
578

250
153
1,329
1,732
18,314

236
141
506
884
18,674

354
10
160
525

－
－
221
221

21

20

354

－

－
15
26
66
483
18,356
5,873
12,483(24)
12,507

18
12
24
18
94
18,801
5,729
13,072
1
13,070Net sales
Net sales of completed construction contracts
Sales in other businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in other businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit - other businessTotal gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Late charges income
Gain on extinguishment of debt
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Subsidy income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on damage due to fire
Loss on tax purpose reduction entry of non-current
assetsLoss on sales of non-current assets
Loss on retirement of non-current assets
Loss on valuation of investment securities
Loss on litigation
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

3

(Quarterly Consolidated Statements of Comprehensive Income)(Nine Months Ended December 31)(Million yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

For the nine months
ended December 31, 2020
12,483For the nine months
ended December 31, 2021
13,072

1,086
(151)
195
1,131
13,614

(744)
(22)
36
(730)
12,342

13,707

12,361

(93)

(19)

4

(Change in accounting policy)(Application of “Accounting Standard for Revenue Recognition”, etc.)
The Company has adopted ASBJ Statement No.29, “Accounting Standard for Revenue Recognition” (March 31,2020) (hereinafter referred to as “The Accounting Standard”), etc. since the beginning of the consolidated firstquarter; and recognizes revenue at the amount expected to be received in exchange for the goods or services whencontrol over the promised goods or services is transferred to the customer. The Company had previously adopted
percentage of completion method for recognizing revenue from construction contracts when the outcome of the
progress part of the construction was deemed certain ; otherwise the completed contract method is adopted; thereby
however, the Company has changed it to the method which recognizes revenue over a period of time as theperformance obligation to transfer the goods or services to the customer is satisfied when control over the goods orservices is transferred to the customer over a period of time. The Company measures progress related to thesatisfaction of performance obligations based on the percentage of construction costs incurred by the end of eachreporting period to the total expected construction costs. If it is impossible to estimate reasonably the progress ofsatisfaction of the performance obligation, but probable that the costs incurred will be recovered, the Company
recognizes revenue using “the cost recovery method”. For construction contracts where the period from the date of
the contract commencement to the date when the performance obligation is expected to be fully satisfied is very
short, the Company applies the alternative treatment; and recognizes revenue when the performance obligation is
fully satisfied, instead of recognizing revenue a period of time. This change in accounting policy has been applied
retrospectively in principle; and financial statements for the previous quarterly and previous consolidated fiscal year
have been adjusted retrospectively. However, the following methods specified in the accounting Standard, paragraph85 have been applied.
(1) For contracts in which almost all amounts of revenue were recognized in accordance with the previous treatment
prior to the beginning of the previous fiscal year, the comparative information shall not be adjusted retrospectively.
(2) For amounts of variable consideration included in contracts in which almost all amounts of the revenue wererecognized in accordance with the previous treatment prior to the beginning of the current fiscal year, the comparative
information shall be adjusted retrospectively using the amount at the time when the uncertainty regarding the amountof the variable consideration is resolved.
(3) For contracts which began and ended during the previous fiscal year, the quarterly consolidated financial
statements for the previous fiscal year shall not be adjusted retrospectively.
As a result, net sales for the consolidated cumulative third quarter of the previous fiscal year increased by ¥123
million, cost of sales increased by ¥125 million, and operating income, ordinary income, and income before income
taxes decreased by ¥1 million, respectively, compared with those before the retrospective application. In addition,
the balance of retained earnings at the beginning of the previous fiscal year increased by ¥0 million, as the cumulative
effect was reflected in net assets at the beginning of the previous fiscal year.
(Accounting Standard for Fair Value Measurement.)
The Company has adopted ASBJ Statement No.30” Accounting Standard for Fair Value Measurement” (July 4, 2019)(hereinafter referred to as “The Accounting Standard”), etc. since the beginning of the consolidated first quarter; andadopts the new accounting policies specified in the accounting Standard , etc. into the future in accordance with thetransitional treatment specified in both the accounting Standard paragraph 19 and ASBJ Statement No.10 AccountingStandard for Financial Instruments (July 4, 2019) Paragraph 44 2. For your information, there is no impact causedby the application on the quarterly consolidated financial statements.

5２. (Reference) Quarterly Non-Consolidated Financial Statements(1) Quarterly Non-Consolidated Balance Sheets(Million yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Costs on construction contracts in progress
Other inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6

As of December 31, 2021

122,029

33,128

119,669

138,658

5,236
1,462
8,610
(12)
256,996

4,873
1,544
13,721(13)
191,913

12,984
10,07423,0581,254

12,97910,09323,073
1,216

24,079
7,378
5,603
(1)
37,06061,373
318,369

23,249
7,623
7,310
(1)
38,18362,472
254,386

(Million yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Short-term borrowings
Current portion of bonds
Advances received on construction contracts inprogress
Provision for warranties for completed construction
Provision for bonuses
Provision for loss on construction contracts
Provision for loss on damage due to fire
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Provisions for retirement benefits
Provision for environmental measures
Provision for management board incentive plan trust
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Share acquisition rights
Total net assets
Total liabilities and net assets

7

As of December 31, 2021

68,751

41,092

16,226291

17,021291

26,986

15,712

2,128
2,459
1,248
5,996
40,150164,240

1,531
609
661
4,509
26,740108,171

400
7,799
7,957
139
116
1,066
17,479181,720

254
9,134
3,022
138
185
1,051
13,786
121,957

17,006
19,984
106,133(10,187)
132,936

17,006
17,123
99,623(4,299)129,453

3,709
3,709
3
136,649
318,369

2,974
2,974
0
132,428
254,386

(2) Quarterly Non-Consolidated Statements of Income(Nine Months Ended December 31)(Million yen)
For the nine months
ended December 31, 2020

For the nine months
ended December 31, 2021

247,426
2,758
250,184

223,855
3,562
227,417214,950
2,348
217,299

193,327
3,092
196,420

32,475410
32,885
14,11918,766455
1,717
17,505525
468
17,562
5,516
12,04530,527469
30,996
13,85917,136852
858
17,130221
74
17,277
5,156
12,120Net sales
Net sales of completed construction contracts
Sales in other businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in other businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit - other businessTotal gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Non-operating expenses
Ordinary profit
Extraordinary income
Extraordinary losses
Profit before income taxes
Income taxes
Profit8

３. Supplementary Information(1) Results for the nine months ended December 31, 2021 and forecasts for full year
1. Non-consolidated(Unit: Million yen. Rounded down to the unit)

Forecasts for the fiscal year ending
March 31, 2022
Items

Results for the
Results for thenine months ended nine months ended
December 31, 2020 December 31, 2021

Results for the
fiscal year ended Previous forecast
March 31, 2021 (announced in
May 2021)

Revisedforecast

Civil engineering

49,241

63,924

101,527

125,000

125,000

Building construction

92,631

110,104

199,341

210,000

210,000

Total orders received

141,872

174,029

300,869

335,000

335,000

Civil engineering
Net sales ofcompleted Building construction
construction
Total net sales ofcontracts
completed
construction contracts

100,780

97,597

135,976

140,000

133,000

146,645

126,257

192,212200,000

177,000

247,426

223,855

328,189

340,000

310,000

Ordersreceived

17,551

16,62623,30322,70022,400[17.4%][17.0%][17.1%][16.2%][16.8%]

14,924

13,901

20,732

17,90018,500[10.2%][11.0%][10.8%][9.0%][10.5%]

32,47530,52744,03540,60040,900[13.1%][13.6%][13.4%][11.9%][13.2%]

250,184

227,417333,067

350,000

315,500

32,885[13.1%]

30,996[13.6%]

44,751[13.4%]

41,600[11.9%]

41,600[13.2%]

14,11913,85919,03818,50018,50018,766[7.5%](1,261)[130]

17,136[7.5%](6)[202]

25,712[7.7%](1,244)[230]

23,100[6.6%](1,000)[150]

23,100[7.3%](1,000)[150]

17,505[7.0%]

17,130[7.5%]

24,468[7.3%]

22,100[6.3%]

22,100[7.0%]

56

147

(783)

－

－

17,562[7.0%]

17,277[7.6%]

23,684[7.1%]

22,100[6.3%]

22,100[7.0%]Tax expenses

5,516

5,156

7,486

7,000

7,000

Profit12,045[4.8%]

12,120[5.3%]

16,198[4.9%]

15,100[4.3%]

15,100[4.8%]

Civil engineering
Gross profit
on completed Building construction
construction
contracts
Total gross profit oncompleted construction
contracts

Gross sales
Gross profit
Selling, general andadministrative expenses
Operating profit
Non-operating income/expenses[Interest income/expenses]
Ordinary profit
Extraordinary income/losses
Profit before income taxes

92. Consolidated(Unit: Million yen. Rounded down to the unit)

Forecasts for the fiscal year ending
March 31, 2022
Results for the
Results for thenine months ended nine months ended
December 31, 2020 December 31, 2021

Items

Results for the
fiscal year ended Previous forecast
March 31, 2021 (announced in
May 2021)

Revisedforecast

Gross sales

263,051

245,145

352,146

372,000

339,000

Selling, general and administrative
expenses

15,421

15,05120,80820,30020,300Operating profit

19,762[7.5%]

18,981[7.7%]

27,356[7.8%]

24,900[6.7%]

24,900[7.3%]

Ordinary profit

18,314[7.0%]

18,674[7.6%]

25,890[7.4%]

23,400[6.3%]

23,400[6.9%]

Profit attributable to ownersof parent

12,507[4.8%]

13,070[5.3%]

17,188[4.9%]

15,800[4.2%]

15,800[4.7%](2) Non-consolidated orders received, net sales, and backlog(Orders received for the construction business)

Category
Government
sectorPrivatesector
Total
Government
sectorDomestic
Privatebuilding
sectorconstruction
Total
Government
sectorPrivateDomestic
sectorTotal
Civil
engineering
Building
Overseas
construction
Total
Civil
engineering
Building
Sum total
construction
Total
Domestic
civil
engineering(Unit: Million yen, %)For the ninemonths ended
December 31, 2020

For the ninemonths ended
December 31, 2021

Amount%Amount33,991[69.7]

46,486

14,811[30.3]

48,802%

Increase/decrease

Results for the fiscal year
ended March 31, 2021

Amount% changeAmount[73.0]

12,49436.8

66,969[66.3]

17,188[27.0]

2,376

16.0

33,978[33.7]

34.4

63,67436.6

14,87130.5

100,947

33.6

22,511[24.7]

17,129[17.0](5,381)(23.9)

42,475[21.7]

68,758[75.3]

83,927[83.0]

15,16922.1

153,272[78.3]

91,26964.3

101,057

58.1

9,787

10.7

195,747

65.1

56,502[40.3]

63,615[38.6]

7,113

12.6

109,444[36.9]

83,569[59.7]

101,116[61.4]

17,546

21.0

187,251[63.1]

140,072

98.7

164,73194.7

24,65917.6

296,695

98.6

438[24.4]

250

[2.7]

(188)

(43.0)

579[13.9]

1,362[75.6]

9,047[97.3]

7,685

564.2

3,593

[86.1]

1,800

1.3

9,297

5.3

7,496

416.3

4,173

1.4

49,241[34.7]

63,924[36.7]

14,683

29.8

101,527[33.7]

92,631[65.3]

110,104[63.3]

17,472

18.9

199,341[66.3]

141,872100.0

174,029100.0

32,15622.7

300,869

100.0

10

%

(Net sales for the construction business)

Category
Government
sectorDomestic
Privatecivil
sectorengineering
Total
Government
sectorDomestic
Privatebuilding
sectorconstruction
Total
Government
sectorPrivateDomestic
sectorTotal
Civil
engineering
Building
Overseas
construction
Total
Civil
engineering
Building
Sum total
construction
Total(Unit: Million yen, %)For the ninemonths ended
December 31, 2020

For the ninemonths ended
December 31, 2021

AmountAmount%Increase/decrease

Results for the fiscal year
ended March 31, 2021%

Amount% changeAmount%63,490[66.6]

57,076[61.9](6,413)(10.1)

85,010[66.1]

31,802[33.4]

35,067[38.1]

3,264

10.3

43,690[33.9]

95,292

38.5

92,14341.2(3,148)(3.3)

128,701

39.2

14,430[10.4]

19,943[16.3]

5,512

38.2

18,591[10.2]

123,780[89.6]

102,090[83.7](21,690)(17.5)

164,057[89.8]

138,21155.9

122,033

54.5(16,178)(11.7)

182,649

55.7

77,921[33.4]

77,020[36.0]

(900)

(1.2)

103,602[33.3]

155,583[66.6]

137,157[64.0](18,426)(11.8)

207,748[66.7]

233,504

94.4

214,177

95.7(19,327)(8.3)

311,350

94.9

5,487

[39.4]

5,453[56.4]

(33)

(0.6)

7,274

[43.2]

8,433[60.6]

4,223[43.6](4,210)(49.9)

9,563[56.8]

13,921

5.6

9,677

4.3

(4,243)(30.5)

16,8385.1

100,780[40.7]

97,597[43.6](3,182)(3.2)

135,976[41.4]

146,645[59.3]

126,257[56.4](20,388)(13.9)

192,212[58.6]

247,426100.0

223,855

100.0(23,571)(9.5)

328,189100.0

11

(Backlog for the construction business)

Category
Government
sectorDomestic
Privatecivil
sectorengineering
Total
Government
sectorDomestic
Privatebuilding
sectorconstruction
Total
Government
sectorPrivateDomestic
sectorTotal
Civil
engineering
Building
Overseas
construction
Total
Civil
engineering
Building
Sum total
construction
Total(Unit: Million yen, %)For the ninemonths ended
December 31, 2020

For the ninemonths ended
December 31, 2021

Amount%Amount%128,320[43.8]

129,186

164,627[56.2]

292,948

Increase/decrease
Amount% changeAmount%[45.6]

866

0.7

139,777[44.8]

154,028[54.4](10,599)(6.4)

171,907[55.2]

66.5

283,21560.3(9,732)(3.3)

311,684

60.0

28,669[23.0]

41,658[25.5]

12,98845.3

44,472[24.1]

95,803[77.0]

121,878[74.5]

26,07427.2

140,040[75.9]

124,472

28.3

163,53634.8

39,063

31.4

184,51335.5

156,989[37.6]

170,844[38.2]

13,855

8.8

184,249[37.1]

260,430[62.4]

275,906[61.8]

15,4755.9

311,947[62.9]

417,42094.7

446,751

95.2

29,331

7.0

496,197

95.5

19,329[83.5]

12,787[56.2](6,541)(33.8)

18,033[78.0]

3,820[16.5]

9,961[43.8]

6,140

160.7

5,093

[22.0]

23,1505.3

22,748

4.8

(401)

(1.7)

23,126

4.5

312,277[70.9]

296,002[63.0](16,274)(5.2)

329,717[63.5]

128,292[29.1]

173,497[37.0]

45,20435.2

189,606[36.5]

440,570100.0

469,500

100.0

28,9296.6

519,324100.0(Net sales for other businesses)

Category

Other businesses

Results for the fiscal year
ended March 31, 2021

(Unit: Million yen, %)For the ninemonths ended
December 31, 2020

For the ninemonths ended
December 31, 2021

AmountAmount
2,758

3,562

12

Increase/decrease
Amount% change

803

29.1

Results for the fiscal year
ended March 31, 2021
Amount4,878