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 Three Months Ended June 30, 2021
[Japanese GAAP]
August 11, 2021
Company name:NIPPON CONCRETE INDUSTRIES CO., LTD.
Stock exchange listing: Tokyo
Code number:
5269
URL:
https://www.ncic.co.jp/
Representative:
TSUKAMOTO Hiroshi,
Representative Director and President
Contact:
IMAI Shoichi,
Director and Managing Executive Officer
Phone:
03-3452-1025
Scheduled date of filing quarterly securities report:
August 13, 2021
Scheduled date of commencing dividend payments:
Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session:
No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2021 (April 01, 2021 to June 30, 2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Three months ended
8,902(18.5)(22)206(54.6)
103(62.2)
June 30, 2021
June 30, 2020
10,922
(0.1)
249
454
173.1
273
195.6
(Note) Comprehensive income:Three months ended June 30, 2021:¥(525) million [-%]Three months ended June 30, 2020:¥
1,074 million [-%]Basic earnings
per share
Three months ended
June 30, 2021
June 30, 2020

Diluted earnings per
share
Yen

Yen

1.83
4.88

-

(2) Consolidated Financial Position
Total assets
As ofJune 30, 2021
March 31, 2021
(Reference) Equity:

Net assets

Million yen

Million yen

70,58874,825
As of June 30, 2021:
As of March 31, 2021:

Capital adequacy ratio¥¥

38,51839,38436,702 million
37,539 million

%

52.0
50.2

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2021

-

2.50

-

6.50

9.00

Fiscal year ending March 31, 2022

-

4.50

9.00

Fiscal year ending March 31, 2022

4.50
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 1st quarter dividend for the fiscal year ending March 31, 2022 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings
Net sales
Operating profit
Ordinary profit
to owners of parent
per share
Million yen%

Million yen%

Six months ended
26,00014.3
900 (13.2)
September 30, 2021
Full year
56,000
14.6
2,500
(9.0)
(Note) Revision to the financial results forecast announced most recently:

Million yen

%

1,200
2,800
No

* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2021
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:Million yen%

Yen(12.3)

700

(6.3)

12.45

(12.0)

1,800

(3.8)

32.02

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: Yes
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):
June 30, 2021:
57,777,432 shares
March 31, 2021:
57,777,432 shares2) Total number of treasury shares at the end of the period:
June 30, 2021:
1,290,871 shares
March 31, 2021:
1,359,228 shares
3) Average number of shares during the period:
Three months ended June 30, 2021:
Three months ended June 30, 2020:

56,440,357 shares
56,152,975 shares* Quarterly financial results are not required to be subjected to quarterly reviews.
* Explanation for appropriate use of financial forecasts and other special notes.
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. Actual results may differ from these forecasts by a variety of reasons.
* These financial results are reflected adjustments disclosed on August 17, 2021.

Table of contents
1. Qualitative Information on Quarterly Financial Results for the Period under Review ............................................ 2(1) Explanation of Business Results ......................................................................................................................... 2(2) Explanation of Financial Position ....................................................................................................................... 4(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ................... 4
2. Quarterly Consolidated Financial Statements and Primary Notes ........................................................................... 5(1) Quarterly Consolidated Balance Sheets .............................................................................................................. 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income...................................................... 7
Quarterly Consolidated Statements of Income ................................................................................................... 7
Quarterly Consolidated Statements of Comprehensive Income ......................................................................... 8(3) Notes to Quarterly Consolidated Financial Statements ...................................................................................... 9(Notes on Going Concern Assumption) .............................................................................................................. 9(Notes in the Case of Significant Changes in the Amount of Shareholders’ Equity) .......................................... 9(Changes in Accounting Policies) ....................................................................................................................... 9(Additional Information) ................................................................................................................................... 10(Segment Information, etc.) ............................................................................................................................... 11(Significant Events after Reporting Period) ...................................................................................................... 12
3. Other ...................................................................................................................................................................... 13
Significant Events Relating to Going Concern Assumption, etc. ........................................................................... 13

1

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Business Results
In the three months ended June 30, 2021, the Japanese economy as a whole appeared to be on a recovery pathas capital investment and other components picked up, although consumer spending and other components
remained sources of concern, affected by a resurgence of the COVID-19 pandemic.
Regarding the business environment in which the Group operates, the demand for concrete piles across Japan
during the three months ended June 30, 2021 increased year on year. Whereas the shipments of concrete poles
throughout Japan remained flat compared to the same period of the previous year, the demand for poles formobile phone base stations remained robust, continuing from the previous period. Furthermore, demand is
growing for concrete products that contribute to the development of new base stations for 5G mobile phones, aswell as for concrete products that help prevent and mitigate disasters, reinforce national resilience, and are usedin disaster recovery (such as precast concrete walls, which are the Company’s proprietary products). Demand
for slope reinforcement works is also growing. In addition, the environmental technology for carbon capturedeveloped by the Company and CCUS (carbon dioxide capture, utilization and storage) products are attracting
increasing attention.
In these circumstances, the Group has been working on measures to materialize our corporate philosophy:
We contribute to a safe, secure, and affluent society through concrete. We also strove to further improve ourearnings.
Regarding the situation of the Group’s overall business, the performance was weak because of sluggish
production and shipments in Foundation Business and the delay in the start of construction of precast concrete
walls. On the other hand, shipment of poles for mobile phone base stations continued to be robust, productionof the RC segment for the Linear Chuo Shinkansen started, and Free Kogyo Co., Ltd., which is mainly engaged
in slope reinforcement works, performed well.
As a result, the Group’s revenue and profit both declined. Net sales for the three months ended June 30, 2021
were 8,902 million yen (down 18.5% year-on-year); operating loss was 22 million yen (against operating profitof 249 million yen a year earlier); ordinary profit was 206 million yen (down 54.6% year-on-year); and profit
attributable to owners of parent was 103 million yen (down 62.2% year-on-year).
The impact of the COVID-19 pandemic on our business has been insignificant so far.
Trends by business segment are as follows.
1) Foundation Business
The demand across Japan for concrete piles during the three months ended June 30, 2021 was slightly higher
than a year earlier. However, net sales were 4,251 million yen (down 25.7% year-on-year) as a result ofsignificant declines in production and shipments of piles due to a decrease in orders received for large-scale
projects, reflecting severe competition for orders in the Kanto region.
As for the profit, a segment loss of 17 million yen (against segment income of 190 million yen a year earlier)
was recorded, affected by a decline in plant utilization rates in addition to lower sales.

2

We will take steps to improve plant utilization rates by securing orders through initiatives for large-scale civilengineering projects in the Kanto region. While making a concerted effort to increase profit throughstrengthened construction management, we will also promote the development of technologies (including thoserelating to materials and peripheral works), further enhance our construction management capability, andendeavor to strengthen competitiveness and improve the customers’ satisfaction.
2) Concrete Secondary Product BusinessIn the Pole-related Business, which is part of the Concrete Secondary Product Business, while the demandfor concrete poles across Japan remained flat, the Group’s shipment of poles for mobile phone base stations
continued to be robust, with net sales of 3,143 million yen (down 1.0% year-on-year), virtually unchanged
from the same period of the previous year when a significant increase in net sales was recorded.
In terms of the Civil Engineering Product Business, notwithstanding the robust performance of Free Kogyo,
which undertakes slope reinforcement works, net sales were 1,429 million yen (down 26.7% year-on-year).
This decline in net sales occurred because sales of the RC segment will be recorded from the second quarter
onward, even though production for the Linear Chuo Shinkansen has already started, and many precast
concrete wall projects will start in the second half of the fiscal year under review, and it also reflected adecrease in construction works due to delays in the start of scheduled projects.
As a result, net sales for the Concrete Secondary Product Business were 4,572 million yen (down 10.8%
year-on-year).
As for the profit, segment income was 478 million yen (up 4.1% year-on-year), owing to profit from therobust shipment of poles for mobile phone base stations as well as reflecting the contribution of briskly
performing Free Kogyo.
Regarding our ongoing efforts in each business, in the Pole-related Business, there has been a steady numberof inquiries about COP (cap on poles), fit-in flange poles which enhance workability of construction. Therefore,
we are working to expand the sales of poles for mobile phone base stations with a view to 5G network rollouts.
We are also strengthening our efforts to win orders including those for pole maintenance and the constructionof poles to boost our earnings. In the Civil Engineering Product Business, we are receiving many inquiries
about our precast concrete walls (for faster construction and less manpower) and slope reinforcement works forflood control, following the increasing demand for greater national resilience as well as preventing andmitigating disasters. Accordingly, we are working actively to win orders with an enhanced sales structure andexpand sales by incorporating our products into designs. In the Segment Business, as well as promoting steadyproduction of segments for the Linear Chuo Shinkansen, we are endeavoring to win orders for large-scale
projects such as construction of underground regulating reservoirs in urban areas.
3) Real Estate and Solar Power Generation BusinessIn the Real Estate and Solar Power Generation Business, net sales were 79 million yen (down 1.3% year-onyear) and segment income was 50 million yen (up 4.6% year-on-year).
In view of the current business environment and conditions described above, each of the Group’s businesses
will make proactive efforts to win orders and expand sales. At the same time, while adapting swiftly to changes

3

in the business environment, we will continue to reduce costs and focus on enhancing earning power. The
process of making Tohoku Pole Co., Ltd. our subsidiary, an initiative that we previously announced, wascompleted by the end of July as scheduled and we plan to include Tohoku Pole in consolidated financial
statements from the second quarter of the fiscal year under review.
Under the 2021 Medium-Term Management Plan announced today, in keeping with the corporate philosophy“We contribute to a safe, secure, and affluent society through concrete,” the Group set the medium- to longterm vision “Protect social infrastructure and the global environment far into the future” and the basic policy“Contribute to reinforcement of national resilience and the global environment by boosting competitivenessand expanding business through promotion of Group management.” The Group will continue to play a role inbuilding social infrastructure and contribute to society by offering technology and product lines that reduce
environmental impacts. In addition, we will continue our efforts to enhance corporate value through sustainablegrowth by exploiting Group synergy.
(Note) Net sales and other figures do not include consumption and other taxes.
(2) Explanation of Financial Position
The Group’s financial policies are to reduce total assets so as to improve ROA through measures such as
early collection of accounts receivable, optimization of product inventories, and efficient capital investment
strategies; and to reduce interest-bearing debts by improving the efficiency of the Group’s funds and assets.
Total assets at the end of the first quarter of the fiscal year under review were 70,588 million yen, down
4,237 million yen from the end of the previous fiscal year.
Current assets were 28,626 million yen, down 3,237 million yen from the end of the previous fiscal year, andnon-current assets were 41,961 million yen, down 999 million yen from the end of the previous fiscal year.
The decrease in current assets was mainly due to a decrease in notes and accounts receivable - trade, andcontract assets, and the decrease in non-current assets was mainly due to a decrease in investment securities inline with a decrease in market value gains on investment securities.
Total liabilities were 32,070 million yen, down 3,371 million yen from the end of the previous fiscal year.
Current liabilities were 22,170 million yen, down 2,627 million yen from the end of the previous fiscal year,
and non-current liabilities were 9,899 million yen, down 743 million yen from the end of the previous fiscal
year.
The decrease in current liabilities was mainly due to a decrease in income taxes payable, and the decrease in
non-current liabilities was mainly due to a decrease in long-term borrowings.
Total net assets were 38,518 million yen, down 865 million yen from the end of the previous fiscal year.
It was mainly due to a decrease in valuation difference on available-for-sale securities.
As a result of the above, the equity ratio was 52.0%, up from 50.2% at the end of the previous consolidated
fiscal year.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
There is no change in our consolidated financial results forecast for the fiscal year ending March 31, 2022
from the forecast announced on May 20, 2021.

42. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Thousand yen)
As of March 31,2021
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Notes and accounts receivable - trade, and contract
assetsElectronically recorded monetary claims operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of June 30,2021

8,804,311
11,965,519

7,509,207--

9,197,485

2,521,131

3,508,192

4,608,488
1,610,450
1,367,942
1,023,371(36,522)
31,864,693

4,904,451
810,615
1,521,984
1,208,969(34,001)
28,626,904

16,453,797
9,114,099
25,567,897
399,997

16,453,797
9,063,805
25,517,602
391,989

13,781,673
3,452,086(241,129)
16,992,630
42,960,524
74,825,217

12,878,890
3,409,726(236,994)
16,051,622
41,961,214
70,588,119

(Thousand yen)
As of March 31,2021
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
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-salesecurities
Revaluation reserve for land
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

6

As of June 30,2021

4,939,989
6,824,886
4,050,000
3,408,008
936,707610,661
4,027,869
24,798,122

4,383,786
6,778,863
4,050,000
3,258,838
82,300363,482
3,253,318
22,170,590

4,500
3,577,548
688,257
6,372,725
10,643,031
35,441,153

4,500
2,976,701
694,922
6,223,326
9,899,449
32,070,040

5,111,583
3,850,779
18,900,629(443,433)
27,419,559

5,111,583
3,880,011
18,661,946(415,450)
27,238,090

4,628,464

4,070,663

5,312,368(42,293)
221,127
10,119,665
1,844,839
39,384,064
74,825,217

5,312,368(118,599)
200,433
9,464,866
1,815,121
38,518,079
70,588,119

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Thousand yen)
For the three months
ended June 30,2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement 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

7

For the three months
ended June 30,2021

10,922,981
9,155,942
1,767,038
1,517,361
249,676

8,902,937
7,388,002
1,514,935
1,537,390(22,455)

3,888
172,141

2,206
174,789

52,86058,26821,476250,367

30,547
265,813

13,02032,25145,272454,771

12,186
24,83037,016206,341-

164,036
164,036

2,121
2,121
452,650
128,076
8,672
136,748
315,90242,141
273,760

527
26,741
27,268343,10978,956
134,550
213,506
129,602
26,082
103,520

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Thousand yen)
For the three months
ended June 30,2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

8

For the three months
ended June 30,2021

315,902129,602753,430
2,022(14,561)(552,679)(76,305)(20,693)

17,814(5,120)758,706
1,074,608(654,799)(525,196)

1,029,813(549,453)

44,79424,257

(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.

(Notes in the Case of Significant Changes in the Amount of Shareholders’ Equity)
For the three months ended June 30, 2020
1. Dividends paid
As no dividends are paid, there is no relevant information.
2 Dividends with a record date in the three months ended June 30, 2020 but with an effective date after theend of the period
There is no relevant information.
For the three months ended June 30, 2021
1. Dividends paid
Resolution

Type ofsharesTotal amount ofdividends paid
(Thousand yen)

Dividend
per share(yen)June 4, 2021
Board of Directors’Meeting

Commonshares368,280

6.50

Record date

Effective date

Source ofdividends

March 31, 2021

June 15, 2021

Retainedearnings(Note) The total amount of dividends based on the resolution of the Board of Directors’ Meeting held on June 4,2021 includes dividends of 366 thousand yen for the Board Incentive Plan Trust (BIP) and dividends of
413 thousand yen for the Stock Granting Trust (J-ESOP).
2. Dividends with a record date in the three months ended June 30, 2021 but with an effective date after theend of the period
There is no relevant information.
(Changes in Accounting Policies)(Application of the Accounting Standard for Revenue Recognition, etc.)
Effective from the beginning of the first quarter of the fiscal year under review, the Company has applied the“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020; hereinafterreferred to as “Revenue Recognition Accounting Standard”), etc. and recognizes the amount expected to bereceived in exchange for goods or services as revenue when the control of the promised goods or services has
been transferred to a customer. With regard to construction contracts, the Company previously applied thepercentage-of-completion method for contracts for which results are deemed certain in terms of the completed
portion. However, in the case of goods or services whose control will be transferred to a customer over a periodof time, the Company has changed the method and recognizes revenue over a period of time in line with thesatisfaction of performance obligations to transfer goods or services to a customer. The measurement of thedegree of progress toward satisfaction of performance obligations is based on the ratio of the construction cost
incurred by the end of the reporting period to the estimated total construction cost. If it is not possible toreasonably estimate the degree of progress toward satisfaction of performance obligations in the early stage ofthe contract, but it is probable that the costs incurred will be recovered, the Company recognizes revenue by thecost recovery method. The Company applies alternative treatment for construction contracts under which theperiod from the transaction commencement date to the point in time at which performance obligations are
expected to be fully satisfied is very short and does not recognize revenue for such contracts over a period oftime but recognizes revenue at the point in time when the Company fully satisfies performance obligations.
For application of the Revenue Recognition Accounting Standard, etc., the Company has followed thetransitional treatment, which is stipulated in the proviso of Paragraph 84 of the Revenue Recognition9

Accounting Standard. Accordingly, the cumulative effect of retrospective application of the new accounting
policy before the beginning of the first quarter of the fiscal year under review has been added to or deductedfrom retained earnings at the beginning of the first quarter of the fiscal year under review and thus the new
accounting policy has been applied from the beginning of the first quarter of the fiscal year under review.
However, the Company has applied the method stipulated in Paragraph 86 of the Revenue Recognition
Accounting Standard and has not applied the new accounting policy retrospectively to the contracts for whichalmost all the revenue had been recognized in accordance with the previous treatment before the beginning of
the first quarter of the fiscal year under review. Moreover, the Company has applied the method stipulated inadditional proviso (1) of Paragraph 86 of the Revenue Recognition Accounting Standard and, for changes tocontracts made before the beginning of the first quarter of the fiscal year under review, accounting treatment
has been implemented based on the contract conditions after all changes to contracts had been reflected and its
cumulative effect has been added to or deducted from retained earnings at the beginning of the first quarter ofthe fiscal year under review.
As a result, net sales and cost of sales for the three months ended June 30, 2020 decreased 260,127 thousand
yen and 248,987 thousand yen, respectively, operating loss increased 11,139 thousand yen, and ordinary profit
and profit before income taxes decreased 11,139 thousand yen, respectively. The beginning balance of retained
earnings increased 36,458 thousand yen.
As a result of the application of the Revenue Recognition Accounting Standard, etc., “notes and accounts
receivable - trade,” which was presented under “current assets” in the consolidated balance sheet for theprevious fiscal year, has been included in “notes and accounts receivable - trade, and contract assets” from thefirst quarter of the fiscal year under review. In accordance with the transitional treatment stipulated in
Paragraph 89-2 of the Revenue Recognition Accounting Standard, reclassification based on the newpresentation method has not been made for the previous fiscal year. Moreover, in accordance with thetransitional treatment stipulated in Paragraph 28-15 of the “Accounting Standard for Quarterly Financial
Reporting” (ASBJ Statement No. 12, March 31, 2020), information on the breakdown of revenue arising fromcontracts with customers for the first quarter of the previous fiscal year is not presented.
(Application of the Accounting Standard for Fair Value Measurement, etc.)
Effective from the beginning of the first quarter of the fiscal year under review, the Company has applied the“Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4, 2019; hereinafter referred
to as “Fair Value Measurement Accounting Standard”), etc. and has applied the new accounting policy
established by the Fair Value Measurement Accounting Standard, etc. and will apply it in the future as well, in
accordance with the transitional treatment stipulated in Paragraph 19 of the Fair Value Measurement
Accounting Standard and Paragraph 44-2 of the “Accounting Standard for Financial Instruments” (ASBJ
Statement No. 10, July 4, 2019). There has been no impact on the quarterly consolidated financial statements.
(Additional Information)(A transaction in which the Company’s shares are delivered to its employees, etc. through a trust)(1) Summary of the transaction
As for the Board Incentive Plan Trust (hereinafter referred to as the “BIP Trust”) and the Stock Granting
Trust (J-ESOP) (hereinafter referred to as the “J-ESOP Trust”) introduced in August 2015, the Company
resolved at the Board of Directors’ Meeting held on July 29, 2021 to continue the BIP Trust and the JESOP Trust for a new three-year period (from July 29, 2021 to August 31, 2024) and reintroduced themby entering into an agreement to extend their terms, for the purpose of increasing motivation to improve
the Company’s medium- to long-term performance and raising awareness toward the contribution to anincrease in shareholder value.
(2) The Company’s shares remaining in the trust
The Company’s shares remaining in the trust are recorded as treasury shares in net assets at their book10

value (excluding incidental expenses) in the trust. The book value and the number of shares of thetreasury shares at the end of the first quarter of the fiscal year under review are 8,886 thousand yen and
20,997 shares for the BIP Trust, and 12,113 thousand yen and 30,710 shares for the J-ESOP Trust.
(Segment Information, etc.)[Segment Information]
I. For the three months ended June 30, 2020
1. Information on net sales and income by reportable segment(Thousand yen)
Reportable segment

Amounts recordedin the quarterly
Adjustment
consolidated(Note 1)statements ofincome (Note 2)

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

5,718,559

5,124,261

80,161

10,922,981－

10,922,981

3,356

－

－

3,356

(3,356)－

Total

5,721,915

5,124,261

80,161

10,926,337(3,356)

10,922,981

Segment income

190,553459,809

48,074

698,437(448,760)

249,676

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers(Notes) 1. The adjustment for segment income mainly includes corporate expenses. Corporate expenses mainly
include general and administrative expenses, not attributed to reportable segments.
2. Segment income is adjusted to the operating income in the quarterly consolidated statements of income.
2. Information on impairment losses of non-current assets and goodwill by reportable segment
There is no relevant information.
II. For the three months ended June 30, 2021
1. Information on net sales and income (loss) by reportable segment and information on the breakdown of revenue(Thousand yen)
Reportable segment

Amounts recordedin the quarterly
Adjustment
consolidated(Note 1)statements ofincome (Note 2)

Concrete
Secondary
Product Business

Real Estate andSolar Power
Generation
Business

4,251,397

4,572,442

79,097

8,902,937－

8,902,937

1,549

－

－

1,549

(1,549)－

Total

4,252,947

4,572,442

79,097

8,904,487(1,549)8,902,937

Segment income (loss)(17,820)

478,851

50,263

511,294(533,749)(22,455)

Foundation
Business

Total

Net sales
Net sales to outside
customers
Inter-segment net sales
or transfers(Notes) 1. The adjustment for segment income or loss mainly includes corporate expenses. Corporate expenses
mainly include general and administrative expenses, not attributed to reportable segments.
2. Segment income or loss is adjusted to the operating loss in the quarterly consolidated statements ofincome.
2. Information on impairment losses of non-current assets and goodwill by reportable segment
There is no relevant information.

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3. Information on changes in reportable segments, etc.
As described in the changes in accounting policies, effective from the beginning of the first quarter of the fiscal
year under review, the Company has applied the Revenue Recognition Accounting Standard, etc. and changed theaccounting treatment for revenue recognition, and accordingly has changed the method of measurement of segment
income or loss in the same manner.
(Significant Events after Reporting Period)(Acquisition of shares of Tohoku Pole Co., Ltd.)The Company resolved at the Board of Directors’ Meeting held on January 28, 2021 to make Tohoku Pole
Co., Ltd. a subsidiary of the Company by acquiring 57.9% of its shares, and entered into a share transfer
agreement on February 5, 2021.
The Company acquired shares of Tohoku Pole Co., Ltd. on July 30, 2021.
(1) Name of acquired company and description of its business
Name of acquired company
Tohoku Pole Co., Ltd.
Description of business
Manufacture and sales of concrete poles and piles
Design and execution of civil engineering and building construction works
Size of businessTotal assets: 9,863 million yen
Net sales: 10,416 million yen
These are figures for the fiscal year ended March 2020, for which audit certification is not obtained
from the Company’s Accounting Auditor.
(2) Reason for acquisition of shares
The Company and Tohoku Pole Co., Ltd. have built a favorable relationship through providing pole andpile manufacturing technologies and pile construction technologies, and mutual cooperation in sales
activities and other initiatives.
The addition of Tohoku Pole Co., Ltd. to the Group will enable us to work on establishing 5G networks
and measures for reinforcing national resilience in eastern Japan in an integrated manner together with
Hokkaido Concrete Industries Co., Ltd., which joined the Group earlier. This will help the future growthof the Group and add to its contribution to creating a safe, secure, and affluent society with initiatives
such as mutual provision of products in the event of a large-scale disaster or other emergency situations.
(3) Date of business combination
July 30, 2021
(4) Legal form of business combination
Acquisition of shares for cash consideration(5) Company name after business combination
There will be no change.
(6) Percentage of voting rights before and after acquisition
Percentage of voting rights before the change: 6.4%
Percentage of voting rights after the change: 64.3%

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3. Other
Significant Events Relating to Going Concern Assumption, etc.
There is no relevant information.

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