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 Six Months Ended September 30, 2022
[Japanese GAAP]
October 31, 2022
Company name: SUMITOMO DENSETSU CO.,LTD.
Stock exchange listing: Tokyo
Code number: 1949
URL: https://www.sem.co.jp
Representative: Makoto Tani
President
Contact: Koji Tanioku
General Manager, Finance & Accounting Department
Phone: +81-6-6537-3490Scheduled date of filing quarterly securities report: November 04, 2022
Scheduled date of commencing dividend payments: December 02, 2022
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Six Months Ended September 30, 2022 (April 01, 2022 to September 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Six months ended
September 30, 2022
81,498
11.9
5,307
6.3
5,838
5.9
3,787
6.2
September 30, 2021
72,850
3.0
4,990
(6.4)
5,513
(2.6)
3,566
(4.2)
(Note) Comprehensive income:Six months ended September 30, 2022:¥
3,136 million [(37.4) %]Six months ended September 30, 2021:¥
5,006 million [(9.3) %]Basic earnings
per share
Six months ended
September 30, 2022
September 30, 2021

Diluted earnings pershareYen

Yen

106.99100.24-(2) Consolidated Financial Position
Total assets
Million yen
As ofSeptember 30, 2022
150,575
March 31, 2022
161,036(Reference) Equity: As of September 30, 2022:
As of March 31, 2022:

Net assets

Capital adequacy ratio

Million yen¥¥

94,751
93,38590,393 million
89,448 million

%

60.0
55.5

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-37.00-49.0086.00

Fiscal year ending March 31, 2023

-43.00-43.0086.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-endTotalNo

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share%

Million yen%

Million yen%

Yen

175,000
4.4
13,1000.7
Full year(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

14,000No

0.7

9,200

0.6

259.87* Notes:(1) Changes in significant subsidiaries during the six months ended September 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
No(3) 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(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
September 30, 2022:
35,635,879 shares
March 31, 2022:
35,635,879 shares2) Total number of treasury shares at the end of the period:
September 30, 2022:
229,374 shares
March 31, 2022:
238,573 shares
3) Average number of shares during the period:
Six months ended September 30, 2022:
Six months ended September 30, 2021:

35,402,675 shares
35,576,657 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
This presentation contains various forward-looking statements which are based on the current expectations and assumptions of future
event.
Please be advised that there are possibilities actual performance could be different from those described in this material.

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
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
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities-1-As of September 30,2022

55,26653,14562,33854,4673,212
2,122(9)122,930

4,506
1,801(10)113,910

7,009
14,315(8,131)
6,184
13,193

7,022
15,220(8,564)
6,655
13,678

234
720
954

176
957
1,133

19,632
4,851(526)
23,957
38,106
161,036

17,3994,795(341)
21,85336,665150,575

38,494

31,665

1,609
3,169
163
17,50660,944

1,641
1,074
69
14,921
49,372

1,001

965

16

16

1,211
4,477
6,706
67,651

1,256
4,214
6,452
55,824

(Million yen)
As of March 31,2022
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
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-2-

As of September 30,2022

6,440
6,102
67,742(437)
79,8476,440
6,107
69,795(420)
81,922

9,688

8,283

1286(375)
9,601
3,936
93,385
161,036

(0)
605
(418)
8,470
4,357
94,751
150,575Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)(Million yen)
For the six months
ended September 30,2021
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Employees' salaries and allowances
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary incomeGain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Impairment losses
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 six months
ended September 30,2022

72,85063,291
9,558

81,49870,954
10,543

1,729
2,838
4,568
4,990

1,993
3,242
5,235
5,307

34
225
29270
559

31
261
123
143
560

18
18
36
5,513

1019305,838-235
235

825
33
5,480
1,059
647
1,706
3,773
207
3,566

6,073
1,275
650
1,925
4,147
359
3,787

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Million yen)
For the six months
ended September 30,2021
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests-4-

For the six months
ended September 30,2022

3,773

4,147

1,437
(1)
(289)
84
1,232
5,006

(1,405)
(1)
438
(43)
(1,011)
3,136

4,908

2,657

98479

Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended September 30,2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of non-current assets
Loss (gain) on sale of investment securitiesImpairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in advances received on
construction contracts in progress
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes and paid refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
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
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Dividends paid to non-controlling interests
Other, netNet cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period-5-

For the six months
ended September 30,2022

5,480
517
57
825(3)

6,073
527
57
(235)
(185)

(29)

(17)

(70)

(78)

(75)
(259)
18(25)
3,367(1,538)(4,197)(37)(293)
10(83)
8,323(1,290)(7,014)2,433(1,020)(3,004)
(680)
2,023
260
(19)
(2,384)(119)(1,680)
189
3,246
293
(11)
(3,251)
276

(333)
334
(293)
38(84)
(5)
(47)
(390)

(366)
390
(1,131)0(327)(5)449
10(979)

148
622
(610)
(1,387)(32)(10)(1,269)550(554)(1,734)(57)(39)(1,836)(61)

397(1,841)
39,58937,748(2,141)
54,921
52,779

Supplementary Information
Consolidated Orders Received/Net Sales/Backlog of Orders by works type
(Unit：Millions of yen)
1.Orders Received
Works TypeFY2021/2Q（From: Apr.1,2021
To: Sep.30,2021）

FY2022/2Q（From: Apr.1,2022
To: Sep.30,2022）

FY2021(Full year)（From: Apr.1,2021
To: Mar.31,2022）

Increase(Decrease)

AmountProportion

AmountProportion

AmountAmountProportion

Power Transmission
Works

12,12413.1

11,251

11.4

(872)

(7.2)

19,768

11.0

General Electrical Works

53,532

58.1

61,515

62.2

7,982

14.9

108,775

60.8

Information &Communications Works

15,67117.0

14,43814.6(1,232)(7.9)

28,804

16.1

Facility & HVAC Works

6,636

7.2

7,270

7.3

634

9.6

13,092

7.3

Utilities Engineering Service

87,96495.4

94,476

95.5

6,511

7.4

170,440

95.2

Others

4,205

4.6

4,408

4.5

202

4.8

8,579

4.8

Total

92,170100.0

98,884

100.0

6,714

7.3

179,019

100.0%%

Rate%%

2.Net Sales
Works TypeFY2021/2Q（From: Apr.1,2021
To: Sep.30,2021）

FY2022/2Q（From: Apr.1,2022
To: Sep.30,2022）

FY2021(Full year)（From: Apr.1,2021
To: Mar.31,2022）

Increase(Decrease)

AmountProportion

AmountProportion

AmountAmountProportion

Power Transmission
Works

8,933

12.3

8,182

10.0

(750)

(8.4)

20,280

12.1

General Electrical Works

43,30259.4

50,906

62.5

7,604

17.6

100,653

60.1

Information &Communications Works

11,296

15.5

12,712

15.6

1,416

12.5

27,482

16.4

Facility & HVAC Works

5,112

7.0

5,287

6.5

175

3.4

10,598

6.3

Utilities Engineering Service

68,644

94.2

77,090

94.6

8,445

12.3

159,015

94.9

Others

4,205

5.8

4,408

5.4

202

4.8

8,579

5.1

Total

72,850100.081,498

100.0

8,648

11.9

167,594

100.0%%

Rate%%

3. Backlog of Orders
Works TypeFY2021/2Q（From: Apr.1,2021
To: Sep.30,2021）

Increase(Decrease)

FY2022/2Q（From: Apr.1,2022
To: Sep.30,2022）

AmountProportion

AmountProportion

AmountPower Transmission
Works

18,853

16.2

18,21714.5(635)

General Electrical Works

71,32461.1

79,824

63.3

Information &Communications Works

19,65716.9

18,329

Facility & HVAC Works

6,816

5.8

116,651

100.0

Total%

AmountProportion(3.4)

15,149

13.9

8,500

11.9

69,21563.6

14.5(1,327)(6.8)

16,604

15.3

9,769

7.72,953

43.3

7,787

7.2

126,142

100.0

9,491

8.1

108,756

100.0

-6-%

Rate

FY2021(Full year)（From: Apr.1,2021
To: Mar.31,2022）%%

（２）Forecast of Consolidated Orders Received & Net Sales(Unit：Millions of yen)Orders Received

Works TypeNet Sales(Apr.1, 2022～Mar.31, 2023)(Apr.1, 2022～Mar.31, 2023)

AmountIncrease(Decrease)

AmountIncrease(Decrease)

Power Transmission Works

20,0001.2

20,000(1.4)

General Electrical Works

107,000(1.6)

106,000

5.3

Information & Communications Works

31,00029,0005.5Facility & HVAC Works

14,0007.6

6.9

12,000Utilities Engineering Service

172,000

0.9

167,000

13.2

Others8,000(6.7)

8,000

(6.7)

Total

180,000

0.5

175,000

4.4%-7-%

5.0