Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
February 8, 2024
Company name:ICHIKEN Co., Ltd.

Stock exchange listing: Tokyo
Stock code:
1847
Representative:
Inquiries:

URL

http://www.ichiken.co.jp

Representative Director & President
General Manager ofHiroyuki HasegawaMasanobu Kato

Finance & Accounting Dept.
Scheduled date to file Quarterly Securities Report:

TEL

03-5931-5642

February 9, 2024

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:No(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)(1) Non-consolidated operating results (cumulative)

Percentages indicate year-on-year changes

Net sales
Nine months ended December 31, 2023
Nine months ended December 31, 2022

Millions of yen
72,494
66,032

Operating profit% Millions of yen
9.8
3,085
10.3
2,181

Earnings per share

Ordinary profit% Millions of yen
41.5
3,028
(41.0)
2,151

%
51.8
(45.5)

Diluted earnings per share

Yen
302.62
199.47

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Profit% Millions of yen
40.7
2,196
(41.5)
1,447

Yen
301.54
198.70(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
56,46355,714As of December 31, 2023
As of March 31, 2023

Equity ratio

Millions of yen
29,146
27,531

%
51.6
49.4

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
40.00
45.00

Yen––

Yen
60.00

Yen
100.0065.00

110.00Year ending March 31, 2024 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net sales

Full year

Millions of yen
92,000Operating profit% Millions of yen
4.5
3,500

Ordinary profit% Millions of yen
31.2
3,400

1Profit% Millions of yen
31.5
2,500

Earnings per share%
46.4

Yen
344.38

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

NoNo

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

7,284,400 shares As of March 31, 2023

7,284,400 shares

25,131 shares As of March 31, 2023

24,991 shares

Number of treasury shares at the end of the period
As of December 31, 2023

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

7,259,333 shares Nine months ended December 31, 2022

2

7,257,598 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of December 31, 2023

AssetsCurrent assets
Cash and deposits

11,653

7,676

Notes receivable, accounts receivable from completed
construction contracts and other

30,90233,421

Electronically recorded monetary claims - operating
Real estate for sale

169
2,181

2,157–

Real estate for sale in process
Costs on construction contracts in progress

–
873

2,083
821

Other
Allowance for doubtful accounts

583
(3)

1,236
(4)

46,36047,393

5,846

5,764

109

119

Other
Allowance for doubtful accounts

3,398
(0)

3,185
–

Total investments and other assets

3,397

3,185

9,353

9,070

55,71456,463

Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2023

As of December 31, 2023

Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
Electronically recorded obligations - operating

10,859
6,347

8,747
7,589

Short-term borrowings
Income taxes payable

1,605
56

1,473
222

Advances received on construction contracts in progress
Provision for warranties for completed construction

1,810
185

2,451
157

Provision for loss on construction contracts
Provision for bonuses

276
407

72
108

Other

699

654

22,24821,476

4,153
1,564

4,019
1,613

217

209

Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits
Other
Total non-current liabilities

5,935

5,841

28,18327,317

Share capital
Capital surplus

4,329
214

4,329
214

Retained earnings
Treasury shares

22,631(27)

24,065(27)

Total shareholders' equity

27,14828,582

360

541

360

541

22

22

27,531

29,14655,71456,463

Total liabilities
Net assets
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

4Non-consolidated statements of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Net sales

66,032

72,494

Cost of sales

61,805

67,204Gross profit

4,226

5,290

Selling, general and administrative expenses

2,045

2,204

Operating profit

2,181

3,085

Non-operating income
Interest income

00

Dividend income
Interest on tax refund

27–

310

Reversal of allowance for doubtful accounts
Other

16–
9

Total non-operating income

3541

Non-operating expenses
Interest expenses

5669

Commission expenses
Other70722Total non-operating expenses

64

98

2,151

3,028

Gain on sale of non-current assets–47

Total extraordinary income–

47

1–

12

Ordinary profit
Extraordinary incomeExtraordinary losses
Loss on retirement of non-current assets
Loss on sale of non-current assets

13

Profit before income taxes

Total extraordinary losses

2,150

3,072

Income taxes - current
Income taxes - deferred

494
209

477
398

Total income taxes
Profit

5703

875

1,447

2,196