Disclaimer: This document is a partial English translation of the Japanese Financial Statements which are filed with Tokyo Stock Exchange
in Japan on August 9, 2019. This document was prepared for reference purposes only without any warranty as to its accuracy. In case of any
discrepancy between the translation and the Japanese original, the latter shall prevail.

Consolidated Financial Results for the Second Quarter of Fiscal 2019
(Six months ended June 30, 2019) [Japanese GAAP]
August 9, 2019
Listed Company Name:
Stock Exchange Listings:

OYO Corporation
Tokyo Stock Exchange (First Section)

Stock Code Number:
Representative:
Inquiries:

9755
URL: https://www.oyo.co.jp/
Masaru Narita, President & Chief Executive Officer
Yuichi Hirashima, Director & Senior Executive Officer, Head of Administration
Headquarters
TEL:+81-3-5577-4501
Scheduled date for submission of quarterly report:
August 13, 2019
Scheduled date for dividend payment:
September 24, 2019
Supplementary materials on quarterly results:
Yes
Holding of quarterly financial results briefing:
Yes (for institutional investors)(Amounts less than one million yen are rounded down)

1. Consolidated Financial Highlights(1) Consolidated Results of Operation(% indicates changes from the previous corresponding period)

Net Sales

Operating income

Net income attributableto owners of parent

Ordinary income

million yen%million yen%million yen%million yen%

23,962
22,647

5.8
1.8

1,093
985

10.9
71.9

1,303
1,107

17.6
50.8

804
687

17.1
21.3

Q2 FY2019
Q2 FY2018

Q2 FY2019 353 million yen [ - %](NOTE) Comprehensive Income (loss):

Net income per share
Q2 FY2019
Q2 FY2018

Q2 FY2018 (18) million yen [ - %]Diluted net incomeper shareyenyen

30.83
26.19

－－(2) Consolidated Financial Position
Total assets

Net assets

million yen

Equity ratio

million yen%

As of June 30, 2019
81,357
66,24281.0
As of December 31, 201880,41866,013
81.9(Reference) Shareholders’ equity: As of June 30, 2019 65,899 million yen
As of December 31, 2018 65,881 million yen

2. Dividends
Dividends per share
End of Q1

End of Q2
yen

End of Q3
yen

FY201814.00－FY201914.00－
FY2019 (forecast)(NOTE) Revision to cash dividends forecast most recently announced: NoneYear-endTotalyen

yen

yen－

14.00

28.00

－

14.00

28.00

3. Consolidated financial results forecasts for the fiscal year ending December 31, 2019 (FY2019)

Net Sales

Operating income%million yen%

yen

49,500
9.4
1,900
28.3
2,300
20.2
(NOTE) Revisions to the financial results forecast announced most recently: None

1,300

61.6

49.65

Full fiscal year

million yen(% indicates changes from the previous corresponding period)
Net income
Net income attributable
Ordinary income
to owners of parent
per share%

million yen%million yen※ Notes(1) Changes in important subsidiaries during the period(Changes in specified subsidiaries accompanying changes in scope of consolidation):

None(2) Adoption of specific accounting methods for the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and restatements① Changes in accounting policies due to revisions of accounting standards, etc.:

None② Changes due to accounting policies other than ①:None③ Change in accounting estimates:

None④ Restatements:

None(4) Number of shares outstanding (common stock)① Number of shares outstanding at the end of the period (including treasury stock)
As of June 30, 201927,582,573 shares

As of December 31, 201827,582,573 shares② Number of treasury stock at the end of the period
As of June 30, 2019

1,469,644 shares

As of December 31, 2018

1,469,573 shares③ Average number of shares during the period (quarterly cumulative total)
Q2 FY201926,112,941 shares

Q2 FY201826,252,914 shares※This quarterly financial results report is exempt from quarterly review by certified public accountant or auditing firm.
※Explanations regarding the appropriate use of forecast of operating results and other special items
Forward-looking statements such as earnings forecasts and other projections contained in this document are based on information
available at the time of disclosure and assumptions that management believes to be reasonable, and do not constitute guarantees
of future performance. Actual results may differ materially from expectations due to various factors.

Consolidated Financial Statements(1) Consolidated Balance Sheets(Unit: million yen)
As of December 31, 2018

As of June 30, 2019

AssetsCurrent assetCash and deposit
Notes and accounts receivable - trade
Accounts receivable from completed businesses
Lease receivables and lease investments assets
Marketable securities
Payments for uncompleted businesses
Merchandise and finished goods
Work in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets

25,53634,351

1,791

2,114

19,5182,440

11,200
2,953

899
2,395

1,100
2,304

755
651

907
739

1,859
1,757

1,821
964

(19)

(17)

57,58558,440

4,838

4,774

6,251

6,247

Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net

1,478

1,795

Total property, plant and equipment

12,56812,817

Other142
1,222

231
1,235

Total intangible assets

1,364

1,466

6,017

5,764

1,306
2,098

1,284
2,069

Intangible assets
Goodwill

Investments and other assets
Investment securities
Net defined benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

(523)

(484)

8,898

8,633

22,832

22,91780,41881,357

(Unit: million yen)
As of December 31, 2018

As of June 30, 2019

Liabilities
Current liabilities
Notes and accounts payable - trade

720
1,433

710
1,406

421

559

136

134

Provision for loss on order received
Other

137
161

256
161

6,739

6,916

Total current liabilities

9,750

10,145

1,940
57

1,904
55

2,656

3,008

Accounts payable for businesses
Income taxes payable
Warranty reserve
Provision for bonuses

Non-current liabilities
Provision for retirement benefits
Reserve for stock benefits
Other
Total non-current liabilities
Total liabilities

4,654

4,969

14,404

15,115

16,174
15,077

16,174
15,07737,45838,029Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock(1,828)(1,828)

Total shareholders' equity

66,881

67,453

1,248(2,594)

1,249(2,732)305
41(118)46(1,000)(1,554)131

343

66,013

66,24280,41881,357

Accumulated other comprehensive income
Unrealized gain on available-for-sale securities
Revaluation surplus of land
Foreign currency translation adjustments
Defined retirement benefit plans
Total accumulated other comprehensive income
Non-controlling interestsTotal net assets
Total liabilities and net assets

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statement of Income(Unit: million yen)
Q2 FY2019(From January 1, 2019
to June 30, 2019)

Q2 FY2018(From January 1, 2018
to June 30, 2018)
Net Sales
Cost of sales

22,647
15,39023,962
16,421Gross profit

7,256

7,541

Selling and general administrative expenses

6,271

6,447

985

1,093

Interest income
Dividend income

76883941

Equity in earnings of affiliates
Rent on real estate92658－2445Other

729642

Total non-operating income

247248Operating income
Non-operating income

Reversal of allowance for doubtful accounts
Gain on sales of non-current assets

Non-operating expenses
Interest expenses
Foreign exchange losses

21－

Equity in losses of affiliates－

54Property rental costs

6116

71

Loss on retirement of non-current assets
Other

018

125

39

1,107

1,303

Gain on sales of investment securities
Total extraordinary income－－

8Extraordinary losses
Loss on sales of investment securities－Total non-operating expensesOrdinary income
Extraordinary income

8

Total extraordinary losses－5353

Income before income taxes

1,107

1,258

Income taxes

427

485

Net income

679

773

Net income (loss) attributable to non-controlling interests

(7)

(31)

Net income (loss) attributable to owners of parent

687

804

Consolidated Statement of Comprehensive Income(Unit: million yen)
Q2 FY2019(From January 1, 2019
to June 30, 2019)

Q2 FY2018(From January 1, 2018
to June 30, 2018)
Net income

679

773

Foreign currency translation adjustments

(247)
(389)

1(426)

Remeasurements of defined benefit plans

(61)

4

Total other comprehensive income (loss)

(697)

(419)

(18)

353

Owners of parent

(9)

387

Non-controlling interests

(8)

(34)

Other comprehensive income
Unrealized gain (loss) on available-for-sale securities

Comprehensive income (loss)
Comprehensive income (loss) attributable to:Segmented information
Information on net sales and income or loss by segment
1. Q2 FY2018 (From January 1, 2018 to June 30, 2018)(Unit: million yen)Segment
Infrastructure
Maintenance,
Management,andRenovation

NaturalDisasterPrevention
andMitigation

Environment

NaturalResourcesandEnergy

10,277

3,778

4,020

4,571

31

18

3

10,309

3,796

740

197

Adjustment
amountConsolidated

22,647－22,647－53(53)

－

4,023

4,571

22,700(53)22,647271(226)

983

2985

Total

Sales
Sales to externalcustomers
Intersegment sales ortransfers
Total
Segment income (loss)

2. Q2 FY2019 (From January 1, 2019 to June 30, 2019)(Unit: million yen)Segment
Infrastructure
Maintenance,Management,andRenovation

NaturalDisasterPrevention
andMitigation

Environment

NaturalResourcesandEnergy

9,925

5,254

4,477

4,306

289

48

13

10,214

5,302731

287

Adjustment
amountConsolidated

23,962－

23,96215366(366)

－

4,490

4,322

24,329(366)

23,962

453

(392)

1,079

13

1,093

Total

Sales
Sales to externalcustomers
Inter segment sales ortransfer
Total
Segment income (loss)