Note : This document has been translated from a part of the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated financial statements(1) Consolidated balance sheet(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable on completed construction
contracts and other
Real estate for sale
Costs on construction contracts in progress
Development projects in progressMaterials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant, and equipment
Buildings and structures
Machinery and equipment
Vehicles, Tools, furniture, and fixtures
Land
Leased assets
OtherAccumulated depreciation
Total property, plant, and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
OtherAllowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of March 31, 2022

As of March 31, 2023

65,171

74,601

15,307

13,656

3,055
619
41,997
33
737

6,369
577
47,43931556(1)126,920(1)
143,231

8,015
161
185
6,471
106
30(4,605)
10,364
170

7,899
173
281
6,075
106
(4,727)
9,808
160

1,011
1,034
688
(13)
2,721
13,257140,177

841
1,341
652
(9)
2,825
12,794
156,025

(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable on construction contracts andotherIncome taxes payable
Advances received on construction contracts in progress
Advances received on development projects in progress,
real estate for sale and other
Provision for bonuses
Provision for warranties for completed construction
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits for directors
Retirement benefits liability
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholder's equity
Share capital
Capital surplus
Retained earnings
Treasury share
Total shareholder's equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

As of March 31, 2022

As of March 31, 2023

35,33037,915

4,110
2,965

4,260
3,953

1,356

2,546

530
186
2,188
46,668

597
189
2,182
51,645

232
945
189
526
1,894
48,563

198
1,038
200
514
1,951
53,597

3,665
3,421
84,972(580)
91,4783,665
3,440
95,699(574)
102,230

137
(1)
135
91,613140,177

221
(23)
198
102,428
156,025

(2) Consolidated Statement of Income and consolidated statement of comprehensive income
Consolidated Statement of Income(Millions of yen)
From April 1, 2021
to March 31, 2022

From April 1, 2022
to March 31, 2023

Net sales
Net sales of completed construction contracts
Net sales in development business and otherTotal net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in development business and otherTotal cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit on development business and otherTotal gross profit
Selling, general, and administrative expenses
Operating income
Non-operating income
Dividend income
Other
Total non-operating income
Non-operating expense
Commission fee
Other
Total non-operating expense
Ordinary income
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Net income attributable to owners of parent

62,772
44,319107,092

63,52050,205
113,725

54,53232,72787,26057,01334,27491,288

8,240
11,591
19,831
4,282
15,5496,506
15,93022,437
5,250
17,186

18
24
43

22
25
47

8
1
9
15,583
15,583
4,975(189)4,786
10,796
10,7968
0
8
17,225
17,2255,535(323)
5,212
12,01312,013

Consolidated Statement of Comprehensive Income(Millions of yen)
From April 1, 2021
to March 31, 2022

From April 1, 2022
to March 31, 2023

Net income

10,796

12,013

Other comprehensive income
Valuation difference on available-for-sale securities
Retirements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests

1016
27
10,823
10,823
-

84
(21)
62
12,075
12,075-

(3) Consolidated statement of changes in equity
Fiscal year ended March 31, 2022 (April 1, 2021-March 31, 2022)(Millions of yen)
Shareholder's equity

Balance at the beginning of current period

Share capital

Capital surplus

Retained earnings

Treasury share

Total shareholders'equity

3,665

3,421

75,286(580)

81,792

Changes during period
Dividends of surplus(1,110)(1,110)

Profit attributable to owners of parent

10,796

10,796

Purchase of treasury share

(0)

(0)

Net changes in items other thanshareholders' equity
Total changes during period
Balance at the end of current period

--

9,685

(0)

9,685

3,665

3,421

84,972(580)

91,478

Accumulated other comprehensive income
Valuation
Total accumulated
Remeasurements
difference onotherof defined benefit
available-for-salecomprehensiveplansincomesecurities
Balance at the beginning of current period

126

(17)

108

Total net assets

81,901

Changes during period
Dividends of surplus(1,110)

Profit attributable to owners of parent

10,796

Purchase of treasury share
Net changes in items other thanshareholders' equity

(0)
10

1627

27

Total changes during period

101627

9,712

Balance at the end of current period

137

(1)

135

91,613

Fiscal year ended March 31, 2023 (April 1, 2022-March 31, 2023)(Millions of yen)
Shareholder's equityShare capital
Balance at the beginning of current period

3,665

Capital surplus

Retained earnings

Treasury share

Total shareholders
equity3,421

84,972(580)

91,478Changes during period
Dividends of surplus(1,286)(1,286)

Profit attributable to owners of parent

12,01312,013Purchase of treasury share
Disposal of treasury share

18(0)

(0)

625

Net changes in items other thanshareholders' equity
Total changes during period
Balance at the end of current period-1810,727

510,752

3,665

3,440

95,699(574)

102,230

Accumulated other comprehensive income
Valuation
Total accumulated
Remeasurements ofotherdifference on
defined benefit
comprehensive
available-for-saleplansincomesecurities
Balance at the beginning of current period

137

(1)

135

Total net assets

91,613

Changes during period
Dividends of surplus(1,286)

Profit attributable to owners of parent

12,013Purchase of treasury share(0)Disposal of treasury share

25

Net changes in items other thanshareholders' equity

84(21)

62

62

Total changes during period

84

(21)

62

10,814

Balance at the end of current period

221(23)198

102,428

(4) Consolidated Statement of Cash Flows(Millions of yen)
From April 1, 2021
to March 31, 2022

From April 1, 2022
to March 31, 2023

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits for
directors
Increase (decrease) in other provisionInterest and dividend income
Decrease (increase) in notes and accounts receivable oncompleted construction contracts and other
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable on
construction contracts and other
Increase (decrease) in accounts payable
Increase (decrease) in advances received on construction
contracts in progress and other
Other
SubtotalInterest and dividend income 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 fixed assets
Proceeds from refund of investment securities
OtherNet cash provided by (used in) investing activities
Cash flows from financing activities
Payment of dividends
Other
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents at end of the year

15,583314(5)
53

17,225
374
(3)
30

23

(3)

82
(19)

69
(22)

612

1,652

(13,208)(8,317)

1,340

2,551

1,020

(181)

1,522

2,178

1,192

402

8,512
19(4,765)
3,766

15,95722(5,394)
10,585

(71)
(48)
(3)
(123)

(129)
(39)
300
(8)
123

(1,109)(20)(1,129)2,513
62,65865,171(1,286)8(1,278)9,430
65,171
74,601