Disclaimer: This document is a partial English translation of the Japanese original which is filed with the Tokyo Stock Exchange andis only for reference purposes. In case of any discrepancy between this translation and the Japanese original, the latter shall prevail.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2022
[Japanese GAAP]May 13,2022
Company name: HAZAMA ANDO CORPORATION
Stock exchange listing: Tokyo Stock Exchange
Code number: 1719
URL: https://www.ad-hzm.co.jp/
Representative: Masato Fukutomi, Representative Director and President
Contact: Toshihisa Kino, Corporate Communication Department General Manager
Phone: +81-3-3575-6094
Scheduled date of ordinary general meeting of shareholders: June 29,2022
Scheduled date of filing securities report: June 29,2022
Scheduled date of commencing dividend payments: June 30,2022
Availability of supplementary briefing material on financial results: Yes
Schedule of financial results briefing session: Yes (For analysts and financial institutions)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2022
340,293(3.4)
26,600(2.8)
25,838(0.2)
17,671
2.8
March 31, 2021
352,146(6.9)
27,356
10.8
25,8908.0
17,1882.3(Note) Comprehensive income: Fiscal year ended March 31, 2022: ¥16,740 million [(18.3)%]
Fiscal year ended March 31, 2021: ¥20,493 million [43.3%]
Basic earnings
Diluted earnings
Ordinary profit
Return on equity
per shareper share
to total assets ratio

Fiscal year ended
March 31, 2022
March 31, 2021

Operating profit
to net sales ratio

Yen

Yen

%

%

%

98.84
89.80

98.84
89.78

12.3
12.2

8.1
7.6

7.8
7.8

(Reference)Share of profit (loss) of entities accounted for using equity method:
Fiscal year ended March 31, 2022: ¥ (273) million
Fiscal year ended March 31, 2021: ¥－million(2) Consolidated Financial Position
Total assets
As of March 31, 2022
As of March 31, 2021
(Reference) Equity:

Net assets

Equity ratio

Million yen

Million yen%

Net assets per shareYen

295,332
339,387

141,682
146,67647.7
43.0

834.00782.28

As of March 31, 2022: ¥140,921 million
As of March 31, 2021: ¥145,915 million(3) Consolidated Cash Flows
Cash flows fromoperating activities

Fiscal year ended
March 31, 2022
March 31, 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents
at end of period

Million yen

Million yen

Million yen

Million yen(36,086)
29,154(4,549)(3,954)(22,565)(12,656)

64,739128,035

2. Dividends
Annual dividends

Fiscal year ended
March 31, 2021
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
(Forecast)

1stquarterend
Yen

2ndquarterend
Yen

3rdquarterend
Yen

－

15.00

－
－

Yearend

Total

Total
dividends
paid

Dividend
payout ratio(consolidated)

Ratio ofdividends toequity(consolidated)

Yen

Yen

Million yen

%

%

－

15.00

30.00

5,704

33.4

4.0

20.00

－

20.00

40.00

7,012

40.5

4.9

20.00

－

20.00

40.00

43.3

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March
31, 2023)(% indicates changes from the previous corresponding period.)
Net salesFirst half
Full year

Million yen%

162,000
377,000

1.9
10.8

Operating profit

Ordinary profit

Profit attributableto owners of parent

Millionyen

Millionyen

Millionyen

8,200
24,000%(34.1)(9.8)

7,600
23,100%(36.7)(10.6)

4,700
15,600%(42.0)(11.7)

Basic earnings
per share
Yen

27.82
92.32

* Notes:(1) Changes in significant subsidiaries during the fiscal year ended March 31, 2022 (changes in specified subsidiaries
resulting in changes in scope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
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, 2022: 181,021,197 shares
March 31, 2021: 200,343,397 shares2) Total number of treasury shares at the end of the period:
March 31, 2022: 12,050,920 shares
March 31, 2021: 13,818,561 shares
3) Average number of shares during the period:
Fiscal year ended March 31, 2022: 178,786,100 sharesFiscal year ended March 31, 2021: 191,421,835 shares
The Company has adopted a performance-linked stock remuneration plan using a trust. The Company’s shares heldby the trust (639,519 shares) are included in the total number of treasury shares at the end of the period and theaverage number of shares during the period is calculated and stated taking into account shares held by the trust.

(Reference) Summery of Non-Consolidated Financial Results
1. Non-Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 1, 2021 to March 31,
2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2022
March 31, 2021

Operating profit

Ordinary profit

ProfitMillion yen%

Million yen%

Million yen%

Million yen%

315,867
333,067

(5.2)
(6.6)

24,11425,712(6.2)
10.3

23,93924,468(2.2)
7.4

16,55816,1982.2
0.2

Basic earnings
per share

Fiscal year ended
March 31, 2022
March 31, 2021

Diluted earnings
per share
Yen

Yen

92.62
84.62

92.61
84.61

(2) Non-consolidated Financial Position
Total assets

Net assets

Million yen

As of March 31, 2022
275,120
As of March 31, 2021
318,369(Reference) Equity: As of March 31, 2022: ¥130,730million
As of March 31, 2021: ¥136,646million

Equity ratio

Million yen%

Net assets per share
Yen

130,730
136,64947.5
42.9

773.69732.592. Non-Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 toMarch 31, 2023)(% indicates changes from the previous corresponding period.)
Net salesFirst half
Full year

Million yen%

151,000
353,000

1.7
11.8

Operating profit

Ordinary profit

Millionyen

Millionyen

8,000
22,600%(28.5)(6.3)

7,700
22,100%(30.2)(7.7)

Basic earnings
per share

ProfitMillionyen

5,000
15,100%(33.7)
(8.8)

Yen

29.59
89.36

* Explanation of the proper use of financial results forecast and other notes(1) The earnings forecasts and other forward-looking statements herein are based on information currently available to
the Company and certain assumptions deemed reasonable. Actual results may differ significantly due to a wide range
of factors.

１. Consolidated Financial Statements(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Costs on construction contracts in progress
Other inventories
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture and fixtures
Land
Other
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of March 31, 2022

129,31766,080

121,461

140,431

5,593
8,823
9,023
(12)
274,206

4,075
7,930
9,567
(14)
228,070

23,64911,977
15,799852(22,723)
29,555
1,505

22,894
12,87915,852
1,961(23,400)
30,186
1,542

21,697
132
7,819
707
3,765
(1)
34,12065,181
339,387

20,960
73
7,091
2,546
4,862
(1)
35,532
67,262
295,332(Million yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Short-term borrowings
Current portion of bonds
Income taxes payable
Advances received on construction contracts inprogress
Deposits received
Provision for warranties for completed construction
Provision for bonuses
Provision for loss on construction contracts
Provision for loss on damage due to fire
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Provision for environmental measures
Provision for management board incentive plan
trust
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-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

2

As of March 31, 2022

70,624

47,134

16,312291
4,907

16,676237
3,071

27,385

18,23730,512
2,129
2,595
1,248
5,996
11,756
173,761

34,038
1,442
2,690
595
3,921
12,343140,388

400
8,271
37
8,857
139

162
7,640
37
3,816
138

116

162

1,127
18,949
192,710

1,302
13,261
153,650

17,006
19,919115,086(10,187)
141,824

17,006
17,058114,124(10,422)
137,766

3,754
－
55
281
4,091
3
758
146,676
339,387

2,996
(345)
85
417
3,154
－
761
141,682
295,332(2) Consolidated Statements of Income and Comprehensive Income(Consolidated Statements of Income)For the Fiscal year ended
March 31, 2021
Net sales
Net sales of completed construction contracts
Sales in other businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in other businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit - other businessTotal gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Late charges income
Gain on extinguishment of debt
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
Compensation for damage
Other
Total non-operating expenses
Ordinary profit

3(Million yen)
For the Fiscal year ended
March 31, 2022

331,694
20,451
352,146

316,153
24,139340,293287,251
16,729303,981

273,098
20,332
293,43144,442
3,722
48,16420,80827,35643,054
3,806
46,861
20,261
26,600

38
327
－
23
79
469

25
291
166
187
156
827

333
－
19
133
1,449
1,935
25,890

320
273
104
376
513
1,588
25,838

For the Fiscal year ended
March 31, 2021
Extraordinary income
Gain on reversal of provision for loss on damage due to fire
Subsidy income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on damage due to fire
Loss on tax purpose reduction entry of non current assets
Loss on sales of non current assets
Loss on retirement of non-current assets
Loss on valuation of investment securities
Head office relocation expenses
Impairment loss
Loss on litigation
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

4(Million yen)
For the Fiscal year ended
March 31, 2022

27
354
12
160
555

－
67
－
241
308

25
354
－
19
－
－
884
74
1,359
25,086
7,789
138
7,928
17,158(30)
17,188

180
66
18
115
27
306
－
42
757
25,390
6,768
949
7,717
17,672
1
17,671

(Consolidated Statements of Comprehensive Income)(Million yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

For the Fiscal year ended
March 31, 2021
17,158For the Fiscal year ended
March 31, 2022
17,672

1,874
(107)
1,568

(758)
34
136

－

(345)

3,335
20,493(932)
16,74020,570(76)

16,734
5

5

(3) Consolidated Statements of Changes in Equity(Fiscal year ended March 31, 2021)(Million yen)
Shareholders' equity

Share capital
Balance at beginning of period

Capital surplus

17,006

Retainedearnings

19,926103,699

Cumulative effects of changes inaccounting policies

Total
shareholders'equityTreasuryshares(5,284)

135,3480

Restated balance

17,006

19,926

0103,700(5,284)

135,349

Changes in items during period
Dividends of surplus(5,802)(5,802)

Profit attributable to owners of parent

17,18817,188Purchase of treasury shares
Disposal of treasury shares(7)(4,936)(4,936)32

25

Cancellation of treasury shares
Transfer from other retained earnings
to other capital surplus
Net changes in items otherthan shareholders’ equity
Total changes in items during period
Balance at end of period－(7)11,385(4,903)6,474

17,006

19,919115,086(10,187)

141,824

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities

Balance at beginning of period

1,880

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated
othercomprehensive
incomeShare
acquisitionrights

Noncontrollinginterests

Total
net assets

116(1,287)

709

4

837

136,900－

Cumulative effects of changes inaccounting policies
Restated balance

0
1,880

116

－

(1,287)

709

4

837

136,900

Changes in items during period
Dividends of surplus(5,802)

Profit attributable to owners of parent

17,188Purchase of treasury shares(4,936)

Disposal of treasury shares

25

Cancellation of treasury shares
Transfer from other retained earnings
to other capital surplus
Net changes in items otherthan shareholders’ equity

1,874

－

(61)

1,568

3,381

(1)

(79)

3,301

Total changes in items during period

1,874

－

(61)

1,568

3,381

(1)

(79)

9,775

Balance at end of period

3,754

－

55

281

4,091

3

758

146,6766

(Fiscal year ended March 31, 2022)(Million yen)
Shareholders' equity

Share capital
Balance at beginning of period

Capital surplus

Retainedearnings

Treasury shares

Total
shareholders'equity17,006

19,919115,086(10,187)

141,824

17,006

19,919115,086(10,187)

141,824

Cumulative effects of changes inaccounting policies
Restated balance
Changes in items during period
Dividends of surplus(6,423)(6,423)

Profit attributable to owners of parent

17,671

17,671

Purchase of treasury shares(15,328)(15,328)

(23)

45

22

(15,047)

15,047－

Disposal of treasury shares
Cancellation of treasury shares
Transfer from other retained earnings
to other capital surplus
Net changes in items otherthan shareholders’ equity
Total changes in items during period
Balance at end of period

12,210(12,210)－(2,861)

(961)

(234)

(4,057)

17,006

17,058114,124(10,422)

137,766－

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities

Balance at beginning of period

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated
othercomprehensive
incomeShare
acquisitionrights

Noncontrollinginterests

Total
net assets

3,754

－

55

281

4,091

3

758

146,676

3,754

－

55

281

4,091

3

758

146,676

Cumulative effects of changes inaccounting policies
Restated balance
Changes in items during period
Dividends of surplus(6,423)

Profit attributable to owners of parent

17,671

Purchase of treasury shares(15,328)

Disposal of treasury shares

22

Cancellation of treasury shares－

Transfer from other retained earnings
to other capital surplus
Net changes in items otherthan shareholders’ equity

－
(758)

(345)

30

136

(936)

(3)

3

(936)

Total changes in items during period

(758)

(345)

30

136

(936)

(3)

3

(4,994)

Balance at end of period

2,996

(345)

85

417

3,154

－

761

141,6827

(4) Consolidated Statements of Cash Flows(Million yen)
For the Fiscal year ended
March 31, 2021
Cash flows from operating activities
Profit before income taxes
Depreciation
Loss on tax purpose reduction entry of non current assets
Subsidy income
Impairment loss
Loss on damage due to fire
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 loss on damage
due to fire
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of investment securities
Loss (gain) on sales of property, plant and equipment
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts
in progress
Decrease (increase) in other inventories
Decrease (increase) in advances paid
Increase (decrease) in trade payables
Increase (decrease) in advances received on
construction contracts in progress
Increase (decrease) in deposits received
Increase (decrease) in accrued consumption taxes
Share of loss (profit) of entities accounted for using equity
methodOther, net
SubtotalInterest and dividends received
Interest paid
Compensation for damage paid
Income taxes paid
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 short-term and long-term investment
securities
Proceeds from sales of short-term andlong-term investment securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant andequipment
Payments for investments in capital of subsidiaries andassociates
Payments of leasehold and guarantee deposits
Subsidies received
Other, net
Net cash provided by (used in) investing activities

8

For the Fiscal year ended
March 31, 2022

25,086
2,080
354
(354)
884
25
(1)

25,390
2,410
66
(67)
－
180
1

(241)

(686)

293

(653)

(702)

(2,075)(1,912)
(447)
(365)
333
(73)
(160)
(12)
16,246(4,964)(1,719)
(317)
320
181
(241)
13
(18,961)

(668)

1,518

(4,136)990(8,289)893
606(23,506)(3,468)(9,151)

3,050
3,254

3,525
(2,521)

－

273

5,865
37,630
393
(356)
(756)
(7,755)
29,154

4,298(25,184)290(298)(2,210)(8,683)(36,086)(60)
221(1,345)
1,281

(429)

(433)

299

358

(2,934)(2,558)16

20－(1,876)

(955)
354
(466)
(3,954)

(104)
67
40
(4,549)(Million yen)

For the Fiscal year ended
March 31, 2021

For the Fiscal year ended
March 31, 2022

Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Redemption of bonds
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net 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

9

(91)
4,107
(5,534)(341)(4,936)(5,802)(2)(52)(12,656)

(31)
4,291
(4,570)(291)(15,328)(6,423)(2)(208)(22,565)28(94)

12,573
115,461
128,035(63,295)
128,035
64,739(Change in accounting policy)(Application of “Accounting Standard for Revenue Recognition”, etc.)
The Company has adopted ASBJ Statement No.29, “Accounting Standard for Revenue Recognition” (March 31,2020) (hereinafter referred to as “The Accounting Standard”), etc. since the beginning of the current consolidated
fiscal year; and recognizes revenue at the amount expected to be received in exchange for the goods or services whencontrol over the promised goods or services is transferred to the customer. The Company had previously adopted
percentage of completion method for recognizing revenue from construction contracts when the outcome of the
progress part of the construction was deemed certain ; otherwise the completed contract method was adopted; thereby
however, the Company has changed it to the method which recognizes revenue over a period of time as theperformance obligation to transfer the goods or services to the customer is satisfied when control over the goods orservices is transferred to the customer over a period of time. The Company measures progress related to thesatisfaction of performance obligations based on the percentage of construction costs incurred by the end of eachreporting period to the total expected construction costs. If it is impossible to estimate reasonably the progress ofsatisfaction of the performance obligation, but probable that the costs incurred will be recovered, the Company
recognizes revenue using “the cost recovery method”. For construction contracts where the period from the date of
the contract commencement to the date when the performance obligation is expected to be fully satisfied is very
short, the Company applies the alternative treatment; and recognizes revenue when the performance obligation is
fully satisfied, instead of recognizing revenue a period of time. This change in accounting policy has been applied
retrospectively in principle; and financial statements for the previous consolidated fiscal year have been adjusted
retrospectively. However, the following methods specified in the accounting Standard, paragraph 85 have been
applied.
(1) For contracts in which almost all amounts of revenue were recognized in accordance with the previous treatment
prior to the beginning of the previous consolidated fiscal year, the comparative information shall not be adjusted
retrospectively.
(2) For amounts of variable consideration included in contracts in which almost all amounts of the revenue wererecognized in accordance with the previous treatment prior to the beginning of the current consolidated fiscal year,
the comparative information shall be adjusted retrospectively using the amount at the time when the uncertainty
regarding the amount of the variable consideration is resolved.
As a result, net sales for the previous consolidated fiscal year increased by ¥145 million, cost of sales increased by¥145 million, and operating profit, ordinary profit, and profit before income taxes decreased by ¥0 million,
respectively, compared with those before the retrospective application. In addition, the balance of retained earnings
at the beginning of the previous consolidated fiscal year increased by ¥0 million, as the cumulative effect wasreflected in net assets at the beginning of the previous consolidated fiscal year.
(Accounting Standard for Fair Value Measurement.)
The Company has adopted ASBJ Statement No.30” Accounting Standard for Fair Value Measurement” (July 4, 2019)(hereinafter referred to as “The Accounting Standard”), etc. since the beginning of the current consolidated fiscal
year; and adopts the new accounting policies specified in the accounting Standard , etc. into the future in accordancewith the transitional treatment specified in both the accounting Standard paragraph 19 and ASBJ Statement No.10
Accounting Standard for Financial Instruments (July 4, 2019) Paragraph 44 2. For your information, there is no
impact caused by the application on the consolidated financial statements.

10２. Non-Consolidated Financial Statements(1) Non-Consolidated Balance Sheets(Million yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
Accounts receivable from completed construction
contracts
Accounts receivable- other business
Real estate for sale
Costs on construction contracts in progress
Costs on other business
Raw materials and supplies
Prepaid expenses
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

11

As of March 31, 2022

122,029296
6,547

56,845
3,937
2,855

111,971

131,736

854
511
5,236
948
3
81
8,528
(12)
256,996

764
504
4,420
903
2
57
8,896
(14)
210,910

18,334(10,051)
8,282
2,174
(1,829)345
3,767(3,087)
679
186
(148)
37
3,780
(3,244)535
12,984
334
(141)
192
－
23,05817,495(9,914)
7,580
2,113(1,788)324
3,850(3,263)
586
174
(151)
23
3,787
(3,360)426
12,979
408
(188)
220
1,658
23,800(Million yen)
As of March 31, 2021
Intangible assets
Leasehold interests in land
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Investments in capital
Investments in capital of subsidiaries and associates
Long-term loans receivable
Long-term loans receivable from employees
Long-term loans receivable from subsidiaries andassociates
Claims provable in bankruptcy, claims provable inrehabilitation and other
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
Accounts payable - other business
Short-term borrowings
Current portion of bonds
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Advances received on construction contracts in progress
Advances received on other business
Deposits received
Unearned revenue
Provision for warranties for completed construction
Provision for bonuses
Provision for loss on construction contracts
Provision for loss on damage due to fire
Other
Total current liabilities

12

As of March 31, 2022

106
966
181
1,254

106
989
190
1,285

21,399
2,679
25
111
12
43
1,630

20,680
2,679
25
1,987
9
－
1,783

1

1

98
447
7,378
3,231
(1)
37,06061,373
318,369

52
2,167
6,638
3,098
(1)
39,12364,209275,120

2,325
9,954
56,091
378
16,226
291
71
2,248
35
4,524
26,986337
29,454
2
2,128
2,459
1,248
5,996
3,475
164,240－－
48,401
342
16,590
237
82
4,719
35
2,500
17,599284
32,452
2
1,440
2,567
594
3,921
872
132,644

As of March 31, 2021
Non-current liabilities
Bonds payable
Long-term borrowings
Lease obligations
Provisions for retirement benefits
Provision for environmental measures
Provision for management board incentive plan
trust
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surpluses
Retained earnings
Other retained earning
Reserve for specified shares
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Share acquisition rights
Total net assets
Total liabilities and net assets

13

As of March 31, 2022

400
7,799
132
7,957
139

162
7,254
153
2,989
138

116

162

578
355
17,479181,720565
317
11,744
144,389

17,00617,006

17,123
2,861
19,984

17,123－
17,123

25
106,108
106,133(10,187)
132,936

25
104,033
104,058(10,422)
127,765

3,709
3,709
3
136,649
318,369

2,965
2,965
－
130,730
275,120

(2) Non-Consolidated Statements of Income(Million yen)
For the Fiscal year ended
March 31, 2021

For the Fiscal year ended
March 31, 2022

328,189
4,878
333,067

310,790
5,077
315,867

284,153
4,162
288,316

268,700
4,422
273,123

44,035715
44,75142,090654
42,744

257
46
5,966
2,008
619
1,204
337
330
390
890
85
2,683
136
(1)
185
75
794
1,037
1,116
122
749
19,03825,712

257
64
5,500
1,963
450
1,126
397
253
402
976
84
2,923
165
1
199
64
869
1,117
987
97
725
18,62924,114

Net sales
Net sales of completed construction contracts
Sales in other businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in other businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit - other businessTotal gross profit
Selling, general and administrative expenses
Remuneration for directors (and other officers)
Provision for management board incentive plan trust
Employees' salaries and allowances
Provision for bonuses
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
Entertainment expenses
Donations
Rent expenses on land and buildings
Depreciation
Taxes and dues
Insurance expenses
Miscellaneous expenses
Selling, general and administrative expenses
Operating profit

14

For the Fiscal year ended
March 31, 2021
Non-operating income
Interest income
Interest on securities
Dividend income
Late charges income
Gain on extinguishment of debt
Other
Total non-operating income
Non-operating expenses
Interest expenses
Interest on bonds
Commission for purchase of treasury shares
Commission expenses
Foreign exchange losses
Compensation for damage
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on reversal of provision for loss on damage due to fire
Subsidy income
Gain on sales of non-current assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on damage due to fire
Loss on tax purpose reduction entry of non current assets
Loss on valuation of investment securities
Head office relocation expenses
Impairment loss
Loss on litigation
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit15

For the Fiscal year ended
March 31, 2022

29
0
523
－
23
78
656

24
－
563
166
187
166
1,107

314
8
43
849
18
133
530
1,900
24,468

306
5
155
154
100
376
181
1,281
23,939

27
354
12
160
555

－
27
－
241
268

25
354
－
－
884
74
－
1,339
23,684
7,346
140
7,486
16,198

180
27
27
306
－
42
107
691
23,517
5,942
1,016
6,958
16,558

(3) Non-Consolidated Statements of Changes in Equity(Fiscal year ended March 31, 2021)(Million yen)
Shareholders' equity

Capital surplus

Retained earnings

Other retained
earnings
Reserve
Retainedforearnings
specifiedbrought
sharesforwardTotal
retainedearnings

TreasurysharesTotalshareholders'equity95,737

95,737(5,284)

127,4510095,73895,738Dividends of surplus(5,802)(5,802)(5,802)

Profit16,19816,19816,198

Balance at beginning of period

SharecapitalLegalcapitalsurplus

OthercapitalsurplusTotal
capitalsurplus17,006

17,123

2,868

19,992－

Cumulative effects of changes inaccounting policies
Restated balance

17,006

17,123

2,868

19,992－0(5,284)

127,452

Changes in items during period

Purchase of treasury shares
Disposal of treasury shares

(7)

(7)

(4,936)(4,936)32

25

Cancellation of treasury shares
Transfer from other retained
earnings to other capital surplus
Reserve for specified shares
Net changes in items otherthan shareholders’ equity
Total changes in items during
periodBalance at end of period

(25)

－

－

(7)

(7)

25

10,370

10,395(4,903)

5,484

17,006

17,123

2,861

19,98425

106,108

106,133(10,187)

132,936

Valuation and translation adjustments

1,876

Total valuationand translation
adjustments
1,876

Share
acquisitionrightsTotal
net assets
4

Cumulative effects of changes inaccounting policies
Restated balance

129,332
0

1,876

1,876

4

129,333

Changes in items during period
Dividends of surplus(5,802)

Profit16,198Purchase of treasury shares(4,936)

Disposal of treasury shares

25

Cancellation of treasury shares
Transfer from other retained
earnings to other capital surplus－

Reserve for specified shares
Net changes in items otherthan shareholders’ equity
Total changes in items during
periodBalance at end of period－－

Valuation difference
on available-for-salesecurities
Balance at beginning of period

25

1,833

1,833

(1)

1,831

1,833

1,833

(1)

7,316

3,709

3,709

3

136,649

16

(Fiscal year ended March 31, 2022)(Million yen)
Shareholders' equity

Capital surplus

Retained earnings

Other retained
earnings
Reserve
Retainedforearnings
specifiedbrought
sharesforwardTotal
retainedearnings

TreasurysharesTotalshareholders'equity106,108

106,133(10,187)

132,936

106,108

106,133(10,187)

132,936

Dividends of surplus(6,423)(6,423)(6,423)

Profit16,55816,55816,558

Balance at beginning of period

SharecapitalLegalcapitalsurplus

OthercapitalsurplusTotal
capitalsurplus17,006

17,123

2,861

19,98425

17,006

17,123

2,861

19,98425

Cumulative effects of changes inaccounting policies
Restated balance
Changes in items during period

Purchase of treasury shares
Disposal of treasury shares(15,328)(15,328)

(23)

(23)

45

22

Cancellation of treasury shares(15,047)(15,047)

15,047－

Transfer from other retained
earnings to other capital surplus

12,21012,210(12,210)(12,210)－

Reserve for specified shares
Net changes in items otherthan shareholders’ equity
Total changes in items during
periodBalance at end of period－－－(2,861)(2,861)－(2,075)(2,075)(234)(5,170)17,006

17,123－

17,12325

104,033

104,058(10,422)

127,765

Valuation and translation adjustments

Balance at beginning of period

ShareacquisitionrightsTotal
net assets

Valuation difference
on available-for-salesecurities

Total valuation andtranslation adjustments

3,709

3,709

3

136,649

3,709

3,709

3

136,649

Cumulative effects of changes inaccounting policies
Restated balance
Changes in items during period
Dividends of surplus(6,423)

Profit16,558Purchase of treasury shares(15,328)

Disposal of treasury shares

22

Cancellation of treasury shares－

Transfer from other retained
earnings to other capital surplus－

Reserve for specified shares
Net changes in items otherthan shareholders’ equity
Total changes in items during
periodBalance at end of period

(744)

(744)

(3)

(747)

(744)

(744)

(3)

(5,918)

2,965

2,965

－

130,730

17

３. Supplementary Information(1) Results for the fiscal year ended March 31, 2022 and forecasts for the six months ending September 30, 2023
and full year
1. Non-consolidated(Unit: Million yen. Rounded down to the unit)

Items

Ordersreceived

Forecasts forthe six months
ending September
30, 2022

Full year
forecasts

101,527

125,000

122,593

50,000125,000

Building
construction

199,341

210,000

187,250

112,500

230,000

Total orders received

300,869

335,000

309,843

162,500

355,000

Civil engineering

135,976

133,000

132,264

62,000145,000

192,212

177,000

178,526

85,000200,000

328,189

310,000

310,790147,000

345,000

Civil engineering
Gross profit
on completed Building
construction construction
Total gross profit oncontracts
completed construction
contracts
Gross sales
Gross profit
Selling, general andadministrative expenses
Operating profit
Non-operating income/expenses[Interest income/expenses]
Ordinary profit
Extraordinary income/losses
Profit before income taxes

ProfitFiscal year ending
March 31, 2023

Civil engineering

Net sales ofcompleted Building
construction construction
Total net sales ofcontracts
completed
construction contracts

Tax expenses

Results forthe fiscal year
ended
March 31, 2021

Fiscal year ended
March 31, 2022
Forecasts forthe fiscal year
Results forended March
the fiscal year
31, 2022
ended March(announced in
31, 2022
February 2022)

23,30322,40021,4679,800

23,200[17.1％][16.8％][16.2％][15.8％][16.0％]

17,50020,732

18,50020,6227,300[10.8％][10.5％][11.6％][8.6％][8.8％]

44,03540,90042,09017,10040,700[13.4％][13.2％][13.5％][11.6％][11.8％]

333,067

315,000

315,867

151,000

353,000

44,751

41,60042,74417,50041,500[13.4％][13.2％][13.5％][11.6％][11.8％]

19,03818,50018,6299,500

18,90025,712

23,10024,1148,000

22,600[7.7％][7.3％][7.6％][5.3％][6.4％](1,244)(1,000)

(174)

(300)

(500)

[230]

[150]

[275]

[220]

[230]

24,468

20,10023,9397,700

22,100[7.3％][7.0％][7.6％][5.1％][6.3％]

(783)

－

(422)

(300)

(300)

23,684

22,10023,5177,400

21,800[7.1％][7.0％][7.4％][4.9％][6.2％]

7,486

7,000

6,958

2,400

6,700

16,198

15,10016,5585,000

15,100[4.9％][4.8％][5.2％][3.3％][4.3％]

18

2. Consolidated(Unit: Million yen. Rounded down to the unit)

Items

Results forthe fiscal year
ended
March 31, 2021

Fiscal year ended
March 31, 2022
Forecasts forthe fiscal year
Results forended
the fiscal year
March 31, 2022
ended
(announced in March 31, 2022
February 2022)

Fiscal yearending
March 31, 2023
Forecasts forthe six months
ending September
30, 2022

Full year
Forecasts

Gross sales

352,146

339,000

340,293

162,000

377,000

Selling, general andadministrative expenses

20,80820,30020,261

10,30020,60027,356

24,90026,6008,200

24,000[7.8％][7.3％][7.8％][5.1％][6.4％]

25,89023,40025,838

7,600

23,100[7.4％][6.9％][7.6％][4.7％][6.1％]

17,18815,80017,671

4,700

15,600[4.9％][4.7％][5.2％][2.9％][4.1％]

Operating profit
Ordinary profit
Profit attributable toowners of parent(2) Non-consolidated orders received, net sales, and year-end backlog(Orders received for the construction business)

Category

For the fiscal year ended
March 31, 2021
AmountDomestic
civil
engineering
Domesticbuilding
construction

Domestic

Overseas

Government
sectorPrivate sector(Unit: Million yen, %)For the fiscal year ended
March 31, 2022%

Amount

66,969[66.3]

Increase/decrease%

Amount

80,672[65.9]% change

13,703

20.5

33,978[33.7]

41,760[34.1]

7,782

22.9

Total
Government
sectorPrivate sector

100,947

33.6

122,432

39.5

21,48521.3

42,475[21.7]

29,467[16.9](13,008)(30.6)

153,272[78.3]

145,009[83.1](8,262)

(5.4)

Total
Government
sectorPrivate sector

195,74765.1

174,476

56.3(21,270)(10.9)

109,444[36.9]

110,139[37.1]

694

0.6

187,251[63.1]

186,770[62.9]

(480)

(0.3)

Total

296,695

98.6

296,909

95.8

214

0.1

579

[13.9]

160

[1.2]

(419)

(72.4)

3,593[86.1]

12,773[98.8]

9,179

255.4

4,173

1.4

12,933

4.2

8,759

209.9

101,527[33.7]

122,593[39.6]

21,065

20.7

199,341[66.3]

187,250[60.4](12,091)(6.1)

300,869

100.0

309,843

100.0

8,974

3.0

Civil engineering
Building
construction
Total

Civil engineering
Building
Sum total
construction
Total

19

(Net sales for the construction business)

Category(Unit: Million yen, %)For the fiscal year ended
March 31, 2021
AmountDomestic
civil
engineering
Domesticbuilding
construction

Domestic

Overseas

Government
sectorPrivate sector

For the fiscal year ended
March 31, 2022%

AmountIncrease/decrease%

Amount% change

85,010[66.1]

76,435[61.3](8,575)(10.1)

43,690[33.9]

48,200[38.7]

4,510

10.3

Total
Government
sectorPrivate sector

128,701

39.2

124,63640.1(4,064)(3.2)

18,591[10.2]

26,661[15.6]

8,070

43.4

164,057[89.8]

144,758[84.4](19,299)(11.8)

Total
Government
sectorPrivate sector

182,64955.7

171,42055.2(11,228)(6.1)

103,602[33.3]

103,097[34.8]

(504)

(0.5)

207,748[66.7]

192,959[65.2](14,788)

(7.1)

Total

311,35094.9

296,057

95.3(15,293)(4.9)

Civil engineering
Building
construction
Total

7,274

[43.2]

7,627[51.8]

352

4.8

9,563

[56.8]

7,106[48.2](2,457)(25.7)

Civil engineering
Building
Sum total
construction
Total

16,838

5.1

14,733

4.7(2,104)(12.5)

135,976[41.4]

132,264[42.6](3,712)(2.7)

192,212[58.6]

178,526[57.4](13,686)(7.1)

328,189

100.0

310,790100.0(17,398)

(5.3)

20

(Year-end backlog for the construction business)

Category

For the fiscal year ended
March 31, 2021
AmountDomestic
civil
engineering
Domesticbuilding
construction

Government
sectorPrivate sector
Total
Government
sectorPrivate sector(Unit: Million yen, %)For the fiscal year ended
March 31, 2022%

AmountIncrease/decrease%

Amount% change

139,777[44.8]

144,013[46.5]

4,236

3.0

171,907[55.2]

165,466[53.5](6,440)(3.7)

311,684

60.0

309,480

59.7(2,203)(0.7)

44,472[24.1]

47,277[25.2]

2,805

6.3

140,040[75.9]

140,291[74.8]

250

0.2

Total
Government
sectorPrivate sector

184,51335.5

187,569

36.2

3,056

1.7

184,249[37.1]

191,291[38.5]

7,041

3.8

311,947[62.9]

305,758[61.5](6,189)

(2.0)

Total

496,19795.5

497,049

95.8

852

0.2

Civil engineering
Building
construction
Total

18,033[78.0]

10,664[49.3](7,369)(40.9)

5,093[22.0]

10,969[50.7]

5,876

115.4

23,126

4.5

21,633

4.2(1,493)(6.5)

Civil engineering
Building
Sum total
construction
Total

329,717[63.5]

320,144[61.7](9,572)(2.9)

189,606[36.5]

198,538[38.3]

8,932

4.7

519,324100.0

518,683

100.0

(640)

(0.1)

Domestic

Overseas(Net sales for other businesses)

Category

Other businesses(Unit: Million yen, %)For the fiscal year ended
March 31, 2021

For the fiscal year ended
March 31, 2022

AmountAmount4,878

Amount5,077

21

Increase/decrease% change198

4.1