Consolidated Financial Results
for the Fiscal Year Ended June 30, 2024
[IFRS]
August 14, 2024
Company name: Integrated Design & Engineering Holdings Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number:
9161
URL:
https://www.id-and-e-hd.co.jp/english/
Representative:
Hiroaki Shinya, Representative Executive President
Contact:
Yasushi Hirusaki, Representative Executive Officer
Phone:+81-3-3238-8040
Scheduled date of ordinary general meeting of shareholders: September 26, 2024
Scheduled date of commencing dividend payments:
September 11, 2024
Scheduled date of filing annual securities report:
September 26, 2024
Availability of supplementary briefing material on financial results: Yes
Schedule of financial results briefing session: Yes (for institutional investors and securities analysts)(Millions of yen, rounded down)
1. Consolidated Financial Results for the Fiscal Year Ended June 30, 2024 (from July 1, 2023 to June 30, 2024)(1) Consolidated Operating Results(% of change from the previous period)
ProfitRevenue
Operating profit Profit before tax
Profitattributable toowners of parent
Fiscal year ended
Million yen% Million yen% Million yen% Million yen% Million yen%
June 30, 2024
158,983
14,124
15,264
10,011
9,677
June 30, 2023
Basic earnings
per share

Diluted earnings
per share

Return on equity
attributable toowners of parent

Ratio of profit
before tax to total
assetsRatio of operating
profit to revenue

Fiscal year ended
Yen
Yen
%
%
%
June 30, 2024
641.83641.83
11.3
7.6
8.9
June 30, 2023
(Reference) Share of profit of investments accounted (Equity method): Fiscal year ended June 30, 2024 : ¥259 million
Fiscal year ended June 30, 2023 : (Note) The Company was established on July 3, 2023 through a sole-share transfer. Therefore, no historical results exist forthe previous fiscal year.
(2) Consolidated Financial Position
Total assets

Total equity

Equityattributable toowners of parent
Million yen

Ratio of equity
attributable toowners of parent tototal assets

Equity attributable toowners of parent per
share

As of
Million yen
Million yen%
Yen
June 30, 2024
206,386
94,097
90,95544.1
6,032.16
June 30, 2023
(Note) The Company was established on July 3, 2023 through a sole-share transfer. Therefore, no historical results exist forthe previous fiscal year.
(3) Consolidated Cash Flows
Cash flows from
Cash flows from
Cash flows from
Cash and cash equivalents
operating activities
investing activities
financing activities
at the end of period
Fiscal year ended
Million yen
Million yen
Million yen
Million yen
June 30, 2024
7,792
(5,064)(8,832)
25,242June 30, 2023
(Note) The Company was established on July 3, 2023 through a sole-share transfer. Therefore, no historical results exist forthe previous fiscal year.

12. Dividends
Ratio of dividends to

Dividends per share
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Total

Fiscal year ended June 30, 2024

Yen
-

Yen
-

Yen
-

Yen
175.00Yen
175.00Fiscal year ending June 30, 2025
(Forecast)

-

-

-

175.00175.00Fiscal year ended June 30, 2023

Total dividends Payout ratio equity attributable topaid (annual) (consolidated)owners of parent(consolidated)

Million yen
2,638

%
27.3

%
3.1

36.1

(Note) The Company was established on July 3, 2023 through a sole-share transfer. Therefore, no historical results exist forthe previous fiscal year.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2025 (July 1, 2024 to June 30, 2025)(% of change from the previous period)
Profit attributable to
Basic earnings
Revenue
Operating profit
owners of parent
per share
Million yen%
Million yen%
Million yen%
Yen
Full year
165,000
3.8
12,200(13.6)
7,300(24.6)
484.14* Notes:(1) Significant changes in scope of consolidation:
New companies:
Excluded companies:

None
None
None

(2) Changes in accounting policies and changes in accounting estimates
1) Changes in accounting policies required by IFRS: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates:
None(3) Total number of issued shares (ordinary shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024:
15,079,625 shares
As of June 30, 2023:- shares2) Total number of treasury shares at the end of the period
As of June 30, 2024:
1,206 shares
As of June 30, 2023:- shares
3) Average number of shares during the period
Fiscal year ended June 30, 2024:
15,077,874 sharesFiscal year ended June 30, 2023:- shares(Note) The Company was established on July 3, 2023 through a sole-share transfer. Therefore, no historical results
exist for the previous fiscal year.

* These consolidated financial results are not subject to audit procedures by certified public accountants or the audit firm.
* Explanation of the proper use of financial results forecast and other notes:
1. The earnings forecasts and other forward-looking statements disclosed herein are based on information available
to the Company as of publication date of this document and certain assumptions deemed reasonable. Actual results,
etc. may differ significantly due to a wide range of factors.
2. The Company is scheduled to hold a financial results briefing session for investors and analysts on September 6, 2024.
The financial briefing materials to be distributed at this briefing session will be subsequently posted on the Company’s
website.

2

Table of Contents of Attachment
1. Overview of Operating Results, etc. ..................................................................................................................... 2(1) Overview of Operating Results for the Current Fiscal Year ............................................................................ 2(2) Overview of Financial Position for the Current Fiscal Year ............................................................................ 3(3) Overview of Cash Flows for the Current Fiscal Year ...................................................................................... 3(4) Future Outlook................................................................................................................................................. 4
2. Basic Policy Regarding Selection of Accounting Standard .................................................................................. 6
3. Consolidated Financial Statement and Primary Notes .......................................................................................... 7(1) Consolidated Statement of Financial Position ................................................................................................. 7(2) Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income ............... 9(3) Consolidated Statement of Changes in Equity .............................................................................................. 11(4) Consolidated Statement of Cash Flows ......................................................................................................... 12(5) Notes to Consolidated Financial Statements ................................................................................................. 13(Notes on Going Concern Assumption) ....................................................................................................... 13(Significant Accounting Policies) ................................................................................................................. 13(Segment Information) ................................................................................................................................. 13(Per Share Information) ................................................................................................................................ 15(Significant Subsequent Events)................................................................................................................... 15
4. Other ................................................................................................................................................................... 16(1) Status of Orders and Sales ............................................................................................................................. 16

1

1. Overview of Operating Results, etc.
Integrated Design & Engineering Holdings Co., Ltd. (“the Company”) was established as the sole parent companyof Nippon Koei Co., Ltd. (“Nippon Koei”) through a share transfer on July 3, 2023, and has newly prepared theconsolidated financial statements from the fiscal year ended June 30, 2024. Since there has been no substantial change
in the scope of Nippon Koei’s consolidated group, Nippon Koei’s fiscal year ended June 30, 2023 have been used ascomparative information. For comparison, the Company made an adjustment of reclassifying its subsidiary El Koei
Co., Ltd. from the Consulting business segment to Others.

(1) Overview of Operating Results for the Current Fiscal Year
During the current fiscal year (July 1, 2023 to June 30, 2024), the Japanese economy has been recovering moderately,
although some areas have been at a standstill. In the future, a moderate recovery is expected to continue, partly due
to the effects of various policies, as the employment and income situation improves. However, the downside of theoverseas economy, such as the impact of continuing high interest rates in Europe and the United States and concerns
about the outlook for the Chinese economy, poses a risk of undermining Japan's economy. In addition, due attention
should be paid to the situation in the Middle East and the impact by fluctuation in financial and capital markets among
other factors.
With regard to the business environment surrounding the Company and its subsidiaries (together, the “Group”),
social and economic activities are normalizing in countries including Japan. On the other hand, however, there is anincreasing risk of uncertainty in the international situation such as the global energy crisis and food crisis triggered
by Russia’s invasion of Ukraine, a further rise in inflation and foreign exchange fluctuations, and conflicts in the
Middle East. In the Consulting Business, the domestic market is expected to continue to secure public works budgets
for national resilience, and the market is expected to expand especially in the field of large-scale disaster preventive
measures and preventive infrastructure maintenance. We also anticipate the expansion of the defense-related
infrastructure business. In the overseas market, the Japanese government strengthened the ODA budgets with
“Infrastructure System Overseas Promotion Strategy 2025” as an axis, and there is a need for restoration support inconflict-affected and disaster-stricken areas. In addition, infrastructure development projects based on Public Private
Partnership and private capital are growing. Meanwhile, inflation, foreign exchange fluctuations and the unstableinternational situation are expected to continue. In the Urban & Spatial Development Business, the need forsustainable urban restructuring, which attracts ESG investment, is increasing in Japan, Europe and the United States.
Also, the need for the urban development business including preparation and maintenance of transportation-related
facilities and peripheral infrastructures is strong in developing countries. In the Energy Business, demand for updating
the aging existing equipment in Japan will likely be strong. However, it is necessary to agilely cope with policychanges due to the rising global energy cost although the trend of shifting to renewable energy toward the target ofcarbon neutrality in 2050 remains unchanged.
Under such a market environment, we drew up the medium-term management plan “Building Resilience 2024” toimplement three resilience policies, and positioned the period from July 2021 to June 2024, which is the first step of
the “ID&E Global Strategy 2030,” as a transformation period to make the Group resilient.
As the first resilience policy, we reorganized the conventional five business operations into three domains(Consulting, Urban & Spatial Development, and Energy) to strengthen the business axis. As the second resilience
policy, we worked with the aim to strengthen corporate governance by shifting to a holding company structure andto realize matrix management (management in which each business mutually collaborates with each other in eachregion) by establishing a regional management system. As the third resilience policy, we took measures to strengthen
technological development and human resource development toward the establishment of ID&E brand and ID&E
quality. Also, we promoted “well-being management” as a basis for that.
As a result, the Group ended the current fiscal year with orders received increased 15.9% year on year to ¥161,357
million, due to steady progress in all businesses. The Energy Business mainly yielded revenue steadily and increased
12.3% year on year to ¥158,983 million. Operating profit increased 132.3% year on year to ¥14,124 million, due toan increase in profit in the Consulting Business. Accordingly, profit attributable to owners of parent increased 212.8%
year on year to ¥9,677 million.

2

Business results for each segment are as follows:[Consulting]In the Consulting Business, we made efforts, centering on Nippon Koei, to promote cross-sectional collaboration
projects such as those related to river basin flood control, climate change, SDGs, renewable energy, and multi-hazards,
develop the management business and expand the private sector, on top of working to increase shares in each of thebusiness fields.
As a result, orders received increased 11.8% year on year to ¥86,568 million on the back of strong performance inJapan, and revenue increased 4.9% year on year to ¥85,488 million. Operating profit increased 63.8% year on yearto ¥10,647 million, due to the recording of approximately ¥2,100 million of valuation gains associated with the listingof shares of the company the Group acquired capital in.
[Urban & Spatial Development]
In the Urban & Spatial Development Business, Nippon Koei Urban Space Co., Ltd. worked to strengthen theoperational structure by securing staff and ensuring quality management, while BDP Holdings Limited and its
subsidiaries (“BDP”) strived to develop the U.K. market, collaborated with group companies to develop the Asianmarket, and worked to expand operations in the North American market.
As a result, orders received increased 17.2% year on year to ¥49,874 million due to the strong performance of BDP,
and revenue increased 16.8% year on year to ¥44,460 million. Operating profit was ¥1,968 million (loss of ¥946
million in the previous period).
[Energy]In the Energy Business, Nippon Koei Energy Solutions Co., Ltd. (prior to September 2023: Energy Headquarters,
Nippon Koei Co., Ltd.) led the efforts to develop the energy management business such as storage batteries andaggregation on a full-scale basis, as well as the efforts to strengthen the structure of the existing energy-related
consulting and engineering business and stabilize the manufacturing business.
As a result, orders received increased 29.8% year on year to ¥24,446 million, mainly due to favorable performancein substation construction work and businesses related to operation and management of power generation facilities.
Revenue increased 33.9% year on year to ¥27,925 million due to strong performance in the large-scale storage battery
projects and power facility-related business. Operating profit decreased 17.0% year on year to ¥2,470 million inreaction mainly to the recording of approximately ¥1,900 million, as a gain on share sale of PT. Arkora Hydro, aformer associated company of the Group and a gain on investments in securities, in the previous fiscal year.
(2) Overview of Financial Position for the Current Fiscal Year
Total assets as of the end of the current fiscal year amounted to ¥206,386 million, an increase of ¥10,994 million
from the end of the previous fiscal year. This was mainly due to a ¥7,771 million increase in contract assets .
Total liabilities were ¥112,288 million, an increase of ¥681 million from the end of the previous fiscal year. Thiswas mainly due to a ¥2,876 million increase in deferred tax liabilities.
Total equity was ¥94,097 million, an increase of ¥10,313 million from the end of the previous fiscal year. This was
mainly due to a ¥6,817 million increase in retained earnings.
As a result, ratio of equity attributable to owners of parent to total assets increased by 2.7 percentage points fromthe end of the previous fiscal year to 44.1%.

(3) Overview of Cash Flows for the Current Fiscal Year
Cash and cash equivalents at the end of the current fiscal year was ¥25,242 million, a decrease of ¥6,436 million
from the end of the previous fiscal year. The status of cash flows in the current fiscal year and changes in cash flows
from the previous fiscal year are as follows.
Net cash provided by operating activities was ¥7,792 million, a decrease of ¥553 million from the previous fiscal
3

year as a result of making adjustments of non-fund items such as depreciation cost as well as receivables and liabilities
related to business activities for profit before tax of ¥15,264 million. This was mainly due to an increase in contract
assets.
Net cash used in investment activities was ¥5,064 million, an increase of ¥2,204 million from the previous fiscal
year, as a result of purchasing property, plant and equipment and intangible assets. This was mainly due to the saleof shares of subsidiaries and associates that occurred in the previous fiscal year did not occur in the current fiscal
year.
Net cash used in financing activities was ¥8,832 million, an increase of ¥17,131 million from the previous fiscal
year as a result of borrowing and repaying short-term borrowings. This was mainly due to the promoted repaymentof short-term borrowings.
Trends of the Company’s cash flow indicators are as follows.
(Reference) Trends in Cash Flow Indicators
Fiscal year
Fiscal year
ended June 2020 ended June 2021
Ratio of equity attributable toowners of parent to total assets(%)
Ratio of equity attributable toowners of parent to total assets
on market value basis (%)

Fiscal year
ended June 2022

Fiscal year
ended June 2023

Fiscal year
ended June 2024

43.6

45.3

44.9

41.4

44.1

29.0

29.7

28.2

28.8

30.9

Interest-bearing debt to cash flow
ratio (years)

9.3

3.0

8.7

6.8

7.1

Interest coverage ratio (times)

10.9

27.8

11.8

11.4

6.8

Ratio of equity attributable to owners of parent to total assets: Equity attributable to owners of parent / Assets
Ratio of equity attributable to owners of parent to total assets on market value basis: Total market capitalization / Assets
Interest-bearing debt to cash flow ratio: Interest-bearing debt / Cash flows
Interest coverage ratio: Cash flows / Interest expenses
Notes: 1. All indicators are calculated using financial figures on a consolidated basis.
For periods prior to the fiscal year ended June 2023, calculations are based on Nippon Koei’s consolidated financial figures.
2. Total market capitalization is calculated based on the number of issued shares excluding treasury shares.
3. Cash flows from operating activities are used for the cash flows.
4. Interest-bearing debt covers all debt recorded in the consolidated statement of financial position for which interest is paid.
From this fiscal year, interest-bearing debt are calculated to include lease liabilities. Accordingly, the previous fiscal years
have also been calculated in the same manner.

(4) Future Outlook
In June 2021, we announced the long-term management strategy “NKG Global Strategy 2030”, under the conceptof “Working Together toward a Future Without Boundaries.” By working together with various internal andexternal partners, we will provide new values through intellectual exploration and technological innovation andintegration. We will aim to be a corporate group that helps to bring about a society where people can actually feelrichness. We set the numerical targets for the fiscal year ending June 2030 as revenue of ¥250 billion, operating profitof ¥25 billion, operating profit margin of 10% and ROE of 15%. To achieve these targets, the Group transitioned intoa holding company structure on July 3, 2023. The transition to a holding company is aimed at strengthening
governance, accelerating decision-making and securing diversity in addition to promoting autonomy andcollaboration.
In June 2024, after reviewing changes in the market environment and business domains for the ID&E Group's
sustainable growth, we revised our materiality (most important issues) to five themes: “Building a more equitablesociety”, “Cultivating a beautiful and habitable planet”, “Innovating to address the challenges of the modern world,“Building a global team with diverse perspectives”, and “Leadership based on integrity and technology”.
Under the “ID&E Global Strategy 2030” which succeeds “NKG Global Strategy 2030” and the new materiality, we
positioned the period from July 2024 to June 2027 as the expansion step, and formulated the medium-term
4management plan “Building Growth 2027”. The numerical targets for the fiscal year ending June 30, 2027, are as
follows: revenue of ¥198 billion, operating profit of ¥18 billion, operating profit margin of 9%, and ROE of 12%.
With a basic policy of sustainable growth in three core businesses and expansion of business domains throughcollaboration among businesses, we will work on three growth policies (Reforms for growth, Deployment of matrix
management, and Advancements in human resources and technology).
In the Consulting Business, favorable market conditions are expected in the domestic market as public works
budgets for national resilience are secured and defense-related projects benefit from increased budgets. In overseas
markets, ODA projects, including yen loans, are at their largest budgets ever, and while needs for infrastructuredevelopment by private capital are growing, there are concerns about rising costs due to inflation and the weak yen.
In the Urban & Spatial Development Business, demand for sustainable urban development is increasing, and in
emerging countries, demand for highly efficient urban development through means such as urban infrastructure
improvement is strong. In the Energy Business, renewable energy is being promoted as the main source of power andenergy storage is being promoted to absorb the fluctuations of renewable energy in order to achieve the 2050 carbon
neutrality goal, as the trend toward decarbonization is expected to continue over the long term. However, competition
from the entry of various companies is also anticipated.
In this market environment, as mentioned above, the Group is implementing the following three growth policies
based on our medium-term management plan “Building Growth 2027” (July 2024 to June 2027).
Growth Policy 1. Reforms for growth
Entire Group・ Promotion of portfolio management

Consulting Business・ Expansion of private and new businesses (public-private partnerships, digital business,management business)
・ Productivity improvement through promotion of technology development related toautomatic design
・ Improvement in earnings from overseas business through higher ratio of contract
man/months, etc.

Urban & Spatial
Development Business・ Strengthening market development capabilities by clarifying focus markets and businesses
in Japan, and improving order unit prices
・ Strengthening of APAC (Asia‐Pacific) and North American operations by BDP・ Strengthening management and earnings structure by reviewing cost structure, etc.

Energy Business・ Drastic strengthening of the hydroelectric business in the manufacturing sector
・ Full-fledged launch of energy management business・ Roll out of knowledge gained from European business to Japan and Asia

Growth Policy 2. Deployment of matrix management
Regional Strategies

・ Promoting regional strategies through the leadership of Chief Regional Officer
・ Optimization of business portfolios in response to market trends in each of eight regions(Japan, UK/Northern Europe/Western Europe/Southern Europe, Southeast Asia/East
Asia/Oceania, South Asia, Latin America, Sub-Saharan Africa, North America, Eastern
Europe/Central Asia/Middle East/North Africa) to maximize the Group's earnings

Growth Policy 3. Advancements in human resources and technology
Human Resources
Strategies

Human Resources Development
・ Establishment and operation of ID&E Global Academy
・ Realization of data-driven human resources through talent management systems
・ Improvement of employee skills through education and training
・ Establishment of network with stakeholders
DE&I (diversity, equity & inclusion)・ Sustained corporate growth and competitive advantage through the utilization of diverse
human resources
・ Creation of an inclusive environment
Well-being
・ Productivity improvement through workstyle reform5

・ Creation of a work environment that supports mental and physical health・ Creation of an environment that encourages communication
Technology Strategies

Technology and DX development
・ Creation of a common infrastructure for collaboration and efficient IT technology
development within the Group・ Promotion of the use of digital technologies such as AI generated based on the Group's
common policy
Quality control
・ Implementation of quality improvement activities that encompass the entire group andestablishment of a system for collaboration among professionals
・ Implementation of professional human resource development activities and building acollaborative system for human resource development

In the fiscal year ending June 30, 2025, in the Consulting Business, we plan to expand our market share in thedomestic market, mainly in the road and defense businesses, mainly through Nippon Koei, and to improve
profitability in overseas markets by increasing ratio of contract man/months and reviewing the production structure.
We also aim to improve productivity through the expansion of private business and the use of AI and automateddesign both in Japan and overseas.
In the Urban & Spatial Development Business, Nippon Koei Urban Space Co., Ltd. will strengthen its managementbase by reinforcing its production system and reviewing its cost structure, while BDP will strengthen its APAC
expansion and expand its business in North America through measures such as collaboration with group companies.
In the Energy Business, we will promote the expansion of energy management business centering on storage
batteries and the enhancement of added value in the manufacturing business by consolidating hydroelectric power
generation-related divisions, mainly through Nippon Koei Energy Solutions Co., Ltd.
By promoting these initiatives, we have set the financial results forecast for the fiscal year ending June 30, 2025, assales revenue of ¥165 billion (103.8% compared with the previous fiscal year), operating profit of ¥12.2 billion, adecrease due to the recording of approximately ¥2.1 billion of valuation gains associated with the listing of shares of
the company the Group acquired capital in for the fiscal year ended June 30, 2024 (86.4% compared with the previous
fiscal year), profit attributable to owners of parent of ¥7.3billion (75.4% compared with the previous fiscal year).

2. Basic Policy Regarding Selection of Accounting Standard
The Group has applied IFRS since the end of the fiscal year ended June 30, 2024 in order to improve the international
comparability of financial statements in capital markets and improve the quality of the group management by unifying
accounting policies.

63. Consolidated Financial Statement and Primary Notes(1) Consolidated Statement of Financial Position
As of June 30, 2024
(Millions of yen)
AssetsCurrent assets
Cash and cash equivalents

25,242

Trade and other receivables
Contract assets

27,302
39,918Other financial assets
Other current assets

2,908
6,593

Total current assets
Non-current assets

101,965

Property, plant and equipment
Right-of-use assets

54,75911,433

Goodwill
Intangible assets

7,475
7,830

Investment property
Investments accounted for using equity method

4,987
2,209

Retirement benefit asset
Other financial assets

1,739
7,835

Deferred tax assets
Other non-current assets

5,511
637

Total non-current assets

104,420

Total assets

206,386

7

As of June 30, 2024
(Millions of yen)
Liabilities and equity
Liabilities
Current liabilities
Borrowings
Lease liabilities

23,7233,443

Trade and other payables
Contract liabilities

12,108
10,649Other financial liabilities
Income taxes payable

3,641
2,821

Provisions
Other current liabilities

1,190
15,314

Total current liabilities
Non-current liabilities

72,892

Borrowings
Lease liabilities

19,588
8,438

Other financial liabilities
Retirement benefit liability

460
3,535

Provisions
Deferred tax liabilities

150
6,837

Other non-current liabilities

384

Total non-current liabilities

39,396

Total liabilities

112,288

EquityShare capital

7,522

Capital surplus
Treasury shares

6,510

Other components of equity
Retained earnings

(4)
9,702
67,224

Total equity attributable to owners of parent
Non-controlling interests

90,955
3,141

Total equity

94,097

Total liabilities and equity

206,3868

(2) Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income(Consolidated Statement of Profit)
For the fiscal year
ended June 30, 2024

Revenue(millions of yen)
158,983

Cost of sales(108,567)

Gross profit
Selling, general and administrative expenses
Share of profit of investments accounted for using equity
methodOther income

50,415(38,644)259
3,656

Other expenses(1,563)Operating profit

14,124

Finance income
Finance costs

2,157(1,018)

Profit before tax

15,264

Income tax expense(5,252)

Profit10,011

Profit attributable to
Owners of parent

9,677

Non-controlling interests

334

Profit10,011

Earnings per share
Basic earnings per share (Yen)
Diluted earnings per share (Yen)

641.83641.839

(Consolidated Statement of Comprehensive Income)For the fiscal year
ended June 30, 2024
(millions of yen)
Profit10,011Other comprehensive income
Items that will not be reclassified to profit or loss
Equity financial assets measured at fair value throughother comprehensive income
Remeasurements of defined benefit plans
Share of other comprehensive income of investments
accounted for using equity method

627
(977)
-

Total of items that will not be reclassified to profit or loss

(349)

Items that may be reclassified to profit or loss
Cash flow hedges

6

Exchange differences on translation of foreign operations
Share of other comprehensive income of investments
accounted for using equity method

2,614

Total of items that may be reclassified to profit or loss

2,702

81

Other comprehensive income

2,352

Comprehensive income

12,364Comprehensive income attributable to
Owners of parent

11,924Non-controlling interests

439

Comprehensive income

12,36410

(3) Consolidated Statement of Changes in Equity(millions of yen)
Equity attributable to owners of parent
Other components of equity

Share capital

Balance as of July 1, 2023

Capital surplus Treasury shares

Exchangedifferences ontranslation offoreign
operations

Cash flow
hedges

7,517

6,470

-

Profit

-

-

-

-

-

-

Other comprehensive income

-

-

-

2,590

6

627

Total comprehensive income

6,039

Equity financial
assets measured
at fair value
through othercomprehensive
income
457

(18)

-

-

-

2,590

6

627

22

22

-

-

-

-

Changes by share transfer

(17)

17

-

-

-

-

Purchase of treasury shares

-

-

(4)

-

-

-

Dividends

-

-

-

-

-

-

Transfer to retained earnings

-

-

-

-

-

-

Total transactions
owners

5

39

(4)

-

-

-

7,522

6,510

(4)

8,629

(12)

1,084

Issuance of new shares

withBalance as of June 30, 2024

Equity attributable to owners of parent
Other components of equity
Remeasurementsof defined benefit
plans

Balance as of July 1, 2023-

ProfitRetainedearnings

Total

Non-controllinginterests

Total

Total

6,478

60,40780,873

2,910

83,784
10,011

-

-

9,677

9,677

334

Other comprehensive income

(977)

2,246

-

2,246

105

2,352

Total comprehensive income

(977)

2,246

9,677

11,924439

12,364Issuance of new shares

-

-

-

45

-

45

Changes by share transfer

-

-

-

-

-

-

Purchase of treasury shares

-

-

-

(4)

-

(4)

Dividends--(1,883)(1,883)(208)(2,092)

Transfer to retained earnings

977

977

(977)

-

-

-

Total
transactions
owners977

977(2,860)(1,842)(208)(2,050)-9,702

67,22490,955

3,141

94,097

Balance as of June 30, 2024

with

11

)

(4) Consolidated Statement of Cash Flows
For the fiscal year
ended June 30, 2024
(millions of yen)
Cash flows from operating activities
Profit before tax

15,264

Depreciation and amortization

6,230

Impairment losses
Loss (gain) on financial assets measured at fair value through profit
or loss
Interest and dividend income

585(1,762)(471)

Interest expenses
Share of profit (loss) of investments accounted for using equity
methodLoss (gain) on derivatives
Loss (gain) on sale of property, plant and equipment, intangible
assets, and investment property
Decrease (increase) in trade and other receivables

1,014

Decrease (increase) in contract assets(7,252)

(259)
(341)
(436)
536

Increase (decrease) in trade and other payables(319)

Increase (decrease) in contract liabilities(686)

Increase (decrease) in consumption taxes payable

153

Increase (decrease) in deposits received

146

Increase (decrease) in accrued expenses(190)

Increase (decrease) in accrued bonus

129

Increase (decrease) in provisions

(34)

Other

194
12,500Subtotal
Dividends received

130Interest received

311

Insurance received

88

Interest paid

(1,137)

Income taxes paid

(4,101)

Net cash provided by (used in) operating activities

7,792

Cash flows from investing activities
Payments into time deposits(1,334)

Proceeds from withdrawal of time deposits

1,492

Purchase of property, plant and equipment, and investment property
Proceeds from sale of property, plant and equipment, andinvestment property
Purchase of intangible assets(5,339)603(272)

Purchase of other financial assets(105)

Purchase of shares of subsidiaries and associates

(84)

Other

(24)
(5,064)

Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings

972,002

Repayments of short-term borrowings(978,025)

Proceeds from long-term borrowings

8,032

Repayments of long-term borrowings(5,415)

Repayments of lease liabilities(3,362)

Dividends paid

(2,059)(4)

Other
Net cash provided by (used in) financing activities(8,832)

Net increase (decrease) in cash and cash equivalents(6,104)

Cash and cash equivalents at beginning of period

31,679Effect of exchange rate changes on cash and cash equivalents(331)

Cash and cash equivalents at end of period

25,24212

(5) Notes to Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.

(Significant Accounting Policies)
The Group’s significant accounting policies are the same as the “Significant Accounting Policies” stated in thelatest securities report submitted by Nippon Koei on September 28, 2023.

(Segment Information)
1. Outline of reportable segments(1) Method of determination of reportable segments
The Group’s reportable segments are component units of the Company for which separate financial
information is available and that are subject to regular review by the Board of Directors for the purposeof making decisions regarding the allocation of management resources and evaluating businessperformance.
The Group’s main companies are organized by products and services, and each main companies
formulate a comprehensive strategy and engage in business activities. Based on the above, the Group iscomposed of three reportable segments classified by products and services; namely, “Consulting”, “Urban& Spatial Development” and “Energy.”(2) Types of products and services by reportable segment“Consulting” engages in business within and outside Japan such as site surveying, planning,
evaluation/assessment, designing, and construction management. It operates in the fields of rivers andwater resources, water and sewage, agricultural and rural development, dams and power generation,transportation (roads, railroads, ports and airports), urban and regional development, geology, disasterprevention, sand control, environment, information systems, etc.
“Urban & Spatial Development” engages in the structuring, planning, design, and operation of urban
and spatial development business.
“Energy” engages in manufacturing and sale of electric power equipment and control devices, planning,
design, construction and construction management of mechanical, electrical and communication facilities
as well as the energy management business utilizing distributed energy resources.
2. Calculation methods for revenue, profit or loss, assets, and other items by reportable segment
The internal intersegment revenue or transfers are based on the transaction price determined after pricenegotiations taking into consideration the market price, etc.

13

3. Revenue, performance, and other items by reportable segment
Revenues and performance by reportable segments of the Group are as follows:
For the fiscal year ended June 30, 2024
(Millions of yen)
Reportable Segments
Urban & Spatial
Development

Consulting

EnergySubtotal

Revenue
Revenue from external customers

85,48844,46027,925

157,874

Intersegment revenue and transfers

411

402

926

1,740

Total

85,89944,86228,851

159,614Segment profit (loss)

10,647

1,968

2,470

15,085(1,750)(2,409)(1,252)(5,412)

Impairment losses

-

(585)

-

(585)

Share of profit (loss) ofinvestments accounted for using
equity method

43

-

216

259

71,50446,45444,221

162,179

2,750

2,349

2,133

7,233

110

-

2,028

2,139

Finance income
Finance costs
Profit before tax
Other items
Depreciation and amortization

Segment assets
Increase in property, plant andequipment, and intangible assets(Note 2)
Investments accounted for using
equity method(Millions of yen)
Others(Note 1)

Adjustments(Note 3)

Total

Consolidated

Revenue
Revenue from external customers

1,109

158,983-

158,983

Intersegment revenue and transfers

2,133

3,873

(3,873)

-

Total

3,242

162,856(3,873)

158,983

Segment profit (loss)

673

15,759(1,634)

14,124

Finance income

2,157

Finance costs(1,018)

Profit before tax

15,264

Other items
Depreciation and amortization(160)(5,573)(657)(6,230)

Impairment losses

-

(585)

-

(585)

Share of profit (loss) of investments
accounted for using equity method

-

259

-

259

8,432

170,61235,773

206,386

5

7,238

313

7,552

-

2,139

69

2,209

Segment assets
Increase in property, plant andequipment, and intangible assets(Note 2)
Investments accounted for using
equity method

14Notes: 1. The category of “Others” includes incidental revenues and expenses that do not belong to any reportable segments, rightof-use assets, and investment property.
2. The amount of increase in property, plant and equipment, and intangible assets includes the amount of increase in rightof-use assets and investment property, but does not include the amount of increase in association with the newconsolidation.
3. “Adjustments” is a recognition of expense, income, and assets in relation to the operation of the Group and an eliminationof transactions between segments.

4.

Information by product and service
Statement is omitted, as similar information is disclosed in “3. Revenue, performance, and other items byreportable segment”(Per Share Information)
For the fiscal year
ended June 30, 2024
Profit attributable to owners of parent (Millions of yen)

9,677

Weighted-average number of shares of common stock (Shares)
Basic earnings per share (Yen)

15,077,874
641.83

Diluted earnings per share is not stated because there are no potential shares.

(Significant Subsequent Events)
There is no relevant information.

15

4. Other(1) Status of Orders and Sales
By period

For the fiscal year
ended June 30, 2023
Amount(Millions of Yen)

For the fiscal year
ended June 30, 2024

Composition(%)

Amount(Millions of Yen)

Composition(%)

77,414

55.6

86,568

53.6

Urban & Spatial Development

42,56630.6

49,874

30.9

Energy18,82713.5

24,446

15.2

Others

457

0.3

467

0.3

Total

139,265

100.0

161,357

100.0

Consulting

85,03560.0

86,11854.1

Urban & Spatial Development

38,07226.9

44,45928.0

Energy17,33912.3

27,296

17.2

Others

1,080

0.8

1,108

0.7

Total

141,527100.0

158,983

100.0

Consulting

81,51957.6

85,488

53.7

Urban & Spatial Development

38,07126.9

44,46028.0

Energy20,855

14.7

27,925

17.6

Others

1,080

0.8

1,109

0.7

Total

141,527100.0

158,983

100.0

Category/segment
Consulting(Note 4)

Orders received
Revenue 1
Revenue 2

By period

For the fiscal year
ended June 30, 2023

For the fiscal year
ended June 30, 2024

Amount(Millions of Yen)

Consulting

2,373

7,327

Urban & Spatial Development

2,387

3,366

Energy90

1,210

Others

-

(0)

Total

4,852

11,903Foreign exchange
and otheradjustments

Category/segment

Composition(%)

Amount(Millions of Yen)

Composition(%)

OrdersOutstanding

Consulting

135,80768.3

143,872

66.1

Urban & Spatial Development

37,651

18.9

46,432

21.3

Energy25,495

12.8

27,390

12.6

Others

1

0.0

5

0.0

Total

198,956100.0

217,701

100.0

Notes: 1. The above amounts are for external customers, and do not include intersegment transactions or transfers.
2. Revenue 1 is by segment which received orders. Revenue 2 is by segment which provided services.
3. Foreign exchange and other adjustments include those related to exchange differences and outstanding order revisions.
4. The above amounts include the outstanding orders at the start of consolidation of NIPPON KOEI MOBILITY SDN. BHD. which
was consolidated from the previous fiscal year.
5. As described in "1. Overview of Operating Results, etc.," there has been no substantial change in the scope of Nippon Koei’s
consolidated group. Therefore, Nippon Koei’s consolidated results for the fiscal year ended June 30, 2023 have been used ascomparative information. For comparison, the Company made an adjustment of reclassifying its subsidiary El Koei Co., Ltd. fromthe Consulting business segment to Others.

16