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.

Consolidated Financial Results
for the Year Ended March 31, 2024
[Japanese GAAP]
April 30, 2024
Company name: NIPPON DENSETSU KOGYO CO., LTD.
Stock exchange listing: Tokyo
Code number: 1950
URL: https://www.densetsuko.co.jp/
Representative: Kazushige Yasuda , President and Representative Director
Contact: Minoru Ito , General Manager of Finance Department
Phone: +81-3-3822-8811
Scheduled date of Annual General Meeting of Shareholders: June 21, 2024
Scheduled date of commencing dividend payments: June 24, 2024
Scheduled date of filing annual securities report: June 21, 2024
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 (April 1, 2023 to March 31, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen%
Fiscal year ended
March 31, 2024
194,03112.7
13,44839.2
14,90036.7
10,04240.0
March 31, 2023
172,100
(0.8)
9,658
29.6
10,903
25.3
7,171
37.3
(Note) Comprehensive income:Fiscal year ended March 31, 2024: ¥ 16,461 million [ 133.9%]
Fiscal year ended March 31, 2023: ¥7,038 million [ 120.3%]
Basic earnings per Diluted earnings per Rate of return on
share
share
equityYen
Fiscal year ended
March 31, 2024
164.39March 31, 2023
116.66(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

5.5
4.1
Fiscal year ended March 31, 2024:
Fiscal year ended March 31, 2023:

Operating profit to
net sales ratio

%

%

5.5
4.2
¥ 218 million¥ 14 million

6.9
5.6

(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Millions of yen

Net assets

Capital adequacy ratio

Millions of yen

282,597
261,371
As of March 31, 2024: ¥ 185,793 million
As of March 31, 2023: ¥ 177,234 million

199,115
190,234

Net assets per share

%

Yen

65.7
67.8

3,150.54
2,883.17(3) 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

7,383
13,234(4,178)(12,441)(7,932)(2,342)35,896
40,624

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

Year-end

Total

Fiscal year ended

Yen

Yen

Yen

Yen

March 31, 2023

-

-

-

37.00

37.00

March 31, 2024

-

-

-

47.00

47.00

-

-

-

50.00

50.00

Total
dividends

Payoutratio(consolidated)

Yen Millions of yen

Dividends
to netassets(consolidated)

%

%

2,276

31.7

1.3

2,773

28.6

1.6

Fiscal year ending
March 31, 2025

28.1

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2024 :Commemorative dividend
42.00 yen
Special dividend
5.00 yen
3. 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.)
Profit attributable to Basic earnings per
Net sales
Operating profit
Ordinary profit
owners of parent
share
Full year

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

%

Yen

205,160

5.7

14,6709.1

15,8306.2

10,5004.6

178.05* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No
New(Company name:)
Exclusion:(Company name:)(2) 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(3) 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:
61,537,219 shares
March 31, 2023:
61,537,219 shares
2) Number of treasury shares at the end of the period:
March 31, 2024:
2,565,390 shares
March 31, 2023:
65,241 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2024:
61,087,291 sharesFiscal Year ended March 31, 2023:
61,471,999 shares

(Reference) Summary of Non-consolidated Financial Results
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%

155,773
135,762

14.7
(2.3)

10,727
7,221

48.5
16.7

12,405
8,733

42.0
15.4

8,938
6,237

43.3
30.3

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2024
March 31, 2023

Yen

Yen

146.22101.40-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2024
March 31, 2023
(Reference) Equity:

Net assets

Millions of yen

Capital adequacy ratio

Millions of yen

224,113207,874
As of March 31, 2024: ¥ 149,349 million
As of March 31, 2023: ¥ 143,498 million

149,349
143,498

Net assets per share

%

Yen

66.6
69.0

2,530.77
2,332.78

2. 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.)
Basic earnings per
Net sales
Operating profit
Ordinary profit
Net income
share
Full year

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

%

Yen

164,890

5.9

12,59017.4

14,22014.6

10,15013.6

171.99

Consolidated Financial Statements
Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Electronically recorded monetary claims operating
Securities
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture andfixtures
Land
Construction in progress
Other
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Provision for warranties for completed
construction
Provision for loss on construction contracts
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities

1

As of March 31, 2024

7,146

10,415

102,739

119,952

1,075

482

35,199
4,731
5,531
(5)
156,419

25,799
4,640
5,882
(11)
167,161

46,82947,287

18,71819,43927,296528
2,030(38,484)
56,9196,523

29,197822
2,120(40,490)
58,3787,085

35,309
3,029
2,356
814
(2)
41,508104,951
261,371

42,375
4,263
2,517
821
(6)
49,971
115,435
282,597

30,27434,962

10,366100
3,174

11,808
100
5,810

1,646

1,272

66

62

466
6,177

1,012
6,935

81

87

5,914
58,267

6,920
68,971

(Millions of yen)
As of March 31, 2023
Non-current liabilities
Provision for retirement benefits for directors (andother officers)
Deferred tax liabilities
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

2

As of March 31, 2024

84

90

535
10,964
1,285
12,86871,1362,510
10,652
1,257
14,511
83,482

8,494
7,792
150,674(26)
166,934

8,494
7,792
158,440(5,241)
169,485

9,453

13,979845
10,29913,000190,234
261,371

2,328
16,307
13,321
199,115
282,597

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2023
Net sales of completed construction contracts
Cost of sales of completed construction contracts
Gross profit on completed construction contracts
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
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Loss on tax purpose reduction entry of non-current
assets
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

3

For the fiscal year
ended March 31, 2024

172,100
148,182
23,917
14,2589,658

194,031
165,522
28,50915,06013,448

26
797

31
815

14

218

408
1,247

388
1,454

0
2
2
10,9030
1
1
14,900

108
271
380

0
833
48
881

318

291

-

48

318
10,965
3,148
370
3,519
7,446
274
7,171

1
341
15,441
5,813
(794)
5,018
10,422
380
10,042

Consolidated Statements of Comprehensive Income(Millions of yen)
For the fiscal year
ended March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
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 non-controllinginterests

4

For the fiscal year
ended March 31, 2024

7,446

10,422

146
(554)

4,538
1,482

0

17

(407)
7,038

6,038
16,461

6,772

16,050266410

Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodCapital surplus

8,494

Retained earnings

7,792

145,409(26)

Total shareholders'equity161,669(1,906)(1,906)

7,171

7,171
(0)

(0)

-

-

5,264

(0)

5,264

8,494

7,792

150,674(26)

166,934

Accumulated other comprehensive income
Valuation difference
Total accumulated
Remeasurements ofon available-for-saleother comprehensive
defined benefit planssecurities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodTreasury shares

9,298

1,400

10,698Non-controllinginterests

Total net assets

12,823

185,192(1,906)
7,171
(0)
155

(554)

(399)

176

(222)

155

(554)

(399)

176

5,041

9,453

845

10,29913,000190,234

5

For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodCapital surplus

8,494

Retained earnings

7,792

150,674(26)

Total shareholders'equity166,934(2,276)(2,276)

10,042

10,042(5,215)(5,215)

-

-

7,766

(5,215)

2,550

8,494

7,792

158,440(5,241)

169,485

Accumulated other comprehensive income
Valuation difference
Total accumulated
Remeasurements ofon available-for-saleother comprehensive
defined benefit planssecurities
incomeBalance at beginningof period
Changes during
periodDividends ofsurplusProfit attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodTreasury shares

9,453

845

10,299Non-controllinginterests

Total net assets

13,000190,234(2,276)
10,042(5,215)
4,525

1,482

6,008

321

6,329

4,525

1,482

6,008

321

8,880

13,9792,328

16,307

13,321

199,1156

Consolidated Statements of Cash Flows(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for warranties forcompleted construction
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on sale and retirement of property, plantand equipment
Loss (gain) on sale of investment securities
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
Decrease (increase) in other assets
Increase (decrease) in other 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
Net decrease (increase) in short-term investment
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 collection of loans receivable
Other, net
Net cash provided by (used in) investing activities

7

For the fiscal year
ended March 31, 2024

10,9653,678(1)

15,441
3,779
10

(122)

(4)

(270)

545

(73)

758

(2)

6

489

785

(17)

6

(824)
0

(847)
0

(14)

(218)

4

290

(271)
3,254

(833)
(16,619)

1,340

91

(1,650)

6,130

(468)

(374)

(1,570)548
200
15,193828(0)(2,786)
13,234

(507)
1,307
21
9,770
851
(0)
(3,238)
7,383

3,099

1,700

(13,327)222(2,456)
(202)
384
40
(202)
(12,441)(3,625)0(2,175)
(990)
1,180
28
(296)
(4,178)(Millions of yen)
For the fiscal year
ended March 31, 2023
Cash flows from financing activities
Purchase of treasury shares
Repayments of lease liabilities
Dividends paid
Dividends paid to non-controlling interests
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

(0)
(349)
(1,903)(89)(2,342)(1,549)42,17340,6248

For the fiscal year
ended March 31, 2024

(5,215)(357)(2,270)(89)(7,932)(4,728)40,62435,896

Non-consolidated Financial Statements
Non-consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable from completed construction
contracts
Securities
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Structures
Accumulated depreciation
Structures, net
Machinery and equipment
Accumulated depreciation
Machinery and equipment, net
VehiclesAccumulated depreciation
Vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets

9

As of March 31, 2024

3,521
44

7,812
84

1,075

481

91,875

108,880

25,4983,173
10,020(5)
135,203

12,9982,931
11,477(11)
144,655

29,072(15,894)
13,1782,122(1,591)531
1,384(1,087)296
5,816(3,631)
2,184
5,439(4,713)725
21,747
196
(89)
106
447
39,21829,405(16,477)
12,9272,153(1,653)499
1,444(1,161)
282
6,066(4,033)
2,032
5,699(5,018)681
23,660
206
(114)
92
744
40,921

90
894
985

104
26
130

(Millions of yen)
As of March 31, 2023
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Bonds of subsidiaries and associates
Long-term loans receivable
Long-term loans receivable from subsidiaries
and associates
Distressed receivables
Long-term prepaid expenses
Prepaid pension costs
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable - trade
Electronically recorded obligations - operating
Accounts payable for construction contracts
Short-term borrowings
Lease liabilities
Income taxes payable
Advances received on construction contracts inprogress
Provision for warranties for completed
construction
Provision for loss on construction contracts
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Lease liabilities
Deferred tax liabilities
Provision for retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus

10

As of March 31, 2024

19,407
9,499
498
31

23,934
10,929
498
25

60

-

2
28
2,296
209
433
(2)
32,466
72,670207,874

6
66
2,490
460
(6)
38,40579,457224,113520
10,36625,897
5,392
27
2,525

408
11,80830,313
5,479
28
4,661

1,697

1,129

66

62

466
4,353

1,012
4,769

51

47

5,285
56,6505,752
65,474

76
7,128
23
496
7,726
64,376

61
1,077
7,633
23
493
9,289
74,763

8,494

8,494

7,792
7,792

7,792
7,792

(Millions of yen)
As of March 31, 2023
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose reduction entry of
non-current assets
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

11

As of March 31, 2024

1,386

1,386

1,999

1,985

102,100
12,446
117,931(12)
134,205

107,100
14,121
124,593(5,227)
135,652

9,292

13,697

9,292
143,498
207,874

13,697
149,349
224,113Non-consolidated Statements of Income(Millions of yen)
For the fiscal year
ended March 31, 2023
Net sales of completed construction contracts
Cost of sales of completed construction contracts
Gross profit on completed construction contracts
Selling, general and administrative expenses
Remuneration for directors (and other officers)
Employees' salaries and allowances
Provision for bonuses
Provision for bonuses for directors (and other officers)
Retirement benefit expenses
Legal welfare expenses
Welfare expenses
Repair and maintenance expenses
Stationery expenses
Communication and transportation expenses
Power utilities expenses
Research study expenses
Advertising expenses
Provision of allowance for doubtful accounts
Bad debt expenses
Entertainment expenses
Donations
Rent expenses on land and buildings
Depreciation
Taxes and dues
Insurance expenses
Miscellaneous expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Interest on securities
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit

12

For the fiscal year
ended March 31, 2024

135,762
118,410
17,351

155,773
134,700
21,072

161
3,253
1,122
51
203
705
75
88
753
267
48
1,134
24
(1)
89
5
286
265
719
7
865
10,129
7,221

155
3,248
1,231
47
233
739
62
87
601
284
44
1,095
28
10
24
118
6
284
269
767
5
996
10,345
10,727

14
12
1,226
260
1,514

16
12
1,386
265
1,680

0
2
2
8,733

0
1
2
12,405

(Millions of yen)
For the fiscal year
ended March 31, 2023
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Loss on tax purpose reduction entry of non-current
assetsTotal extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit13

For the fiscal year
ended March 31, 2024

106
271
378

0
819
48
867

174

275

-

48

174
8,937
2,463
236
2,700
6,237

323
12,948
4,607
(596)
4,010
8,938

Non-consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Capitalsurplus

Share capital

Balance at beginningof period
Changes during
periodDividends ofsurplusProfitPurchase of treasury
shares
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Reversal of reserve
for special
depreciation
Provision of generalreserve
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period8,494

Retained earnings
Other retained earnings
Reserve fortax purpose
Reserve for
reduction
Generalspecialentry ofreservedepreciation
non-current
assetsLegal capitalsurplusLegalretainedearnings

7,792

1,386

2,049

0

Retainedearnings
brought
forwardTotal
retainedearnings

10,564

113,600(1,906)(1,906)

6,237

6,237

50

-

0

-

2,500

(2,500)-99,600

(50)

(0)

-

-

-

(50)

(0)

2,500

1,881

4,330

8,494

7,792

1,386

1,999

-

102,100

12,446

117,931

14

Valuation
andShareholders' equity
translation
adjustments
Total net
ValuationassetsTotal
difference
Treasuryshareholders'onsharesequityavailable-for-salesecurities
Balance at beginningof period
Changes during
periodDividends ofsurplusProfitPurchase of treasury
shares
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Reversal of reserve
for special
depreciation
Provision of generalreserve
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period(12)(0)

129,875

9,125

139,000(1,906)(1,906)

6,237

6,237

(0)

(0)

-

-

-

-

-

167

167

(0)

4,330

167

4,497

(12)

134,205

9,292

143,49815

For the fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity

Share capital

Balance at beginningof period
Changes during
periodDividends ofsurplusProfitPurchase of treasury
shares
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Provision of generalreserve
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period8,494

CapitalsurplusRetained earnings

Legal capitalsurplusLegalretainedearnings

Other retained earnings
Reserve fortax purpose
Retained
reduction
Generalearnings
entry ofreservebrought
non-current
forwardassets

7,792

1,386

1,999

12,446

117,931(2,276)(2,276)

8,938

8,938

13

-

5,000

(5,000)

-

(13)

-

-

-

(13)

5,000

1,675

6,661

8,494

7,792

1,386

1,985

107,100

14,121

124,593

ValuationandShareholders' equity
translation
adjustments
Total net
ValuationassetsTotal
difference
Treasuryshareholders'onsharesequityavailable-for-salesecurities
Balance at beginningof period
Changes during
periodDividends ofsurplusProfitPurchase of treasury
shares
Reversal of reserve
for tax purpose
reduction entry of
non-current assets
Provision of generalreserve
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period102,100

Total
retainedearnings(12)(5,215)

134,205

9,292

143,498(2,276)(2,276)

8,938

8,938

(5,215)(5,215)

-

-

-

4,404

4,404

(5,215)

1,446

4,404

5,851

(5,227)

135,652

13,697

149,349

16