Financial Results Report for
the Fiscal Year 2024 1Q (period ending March 31,2025)

Disclaimer: This document is an English translation of the original
document in Japanese and has been prepared solely for reference
purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevailin all respects.

Copyright© YONDENKO CORPORATION. All Rights Reserved.

(TSE Prime Market: 1939)
July, 2024

AgendaⅠ

2024 fiscal year 1Q results

Ⅱ Forecast for 2024 fiscal year
Ⅲ Share split and Revision of dividend
forecast (dividend increase)

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2

AgendaⅠ

2024 fiscal year 1Q results

Ⅱ

Forecast for 2024 fiscal year

Ⅲ

Share split and Revision of dividend
forecast (dividend increase)

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3

Operating Results (Consolidated)

Ⅰ 2024 fiscal year 1Q results

Business Environment■ Orders received generally favorable due to continued signs of recovery in capital investment■ Need to pay attention to the impact on the decision to win an order, the cost of construction, orders receiveds, and the progress of construction
work due to a rise in the price of materials and equipment and labor shortages.
Our group's achievements■ Orders received reached a record high■ Net sales and profits increased year on year (quarterly net income reached record highs).
➤ Steady progress in construction, stable procurement of materials and equipment, and thorough cost management contributed(Billion yen)

FY2023
1Q

FY2024
1Q

YoYchangeOrders received

23.5

25.8+2.3

Net sales

20.2

23.2+2.9

Operating profit

1.1

1.7+0.6

Ordinary profit

1.2

1.8+0.6

Profit attributable to owners of parent

0.8

1.2+0.4

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Factors behind Changes in Net Sales (Consolidated)

Ⅰ 2024 fiscal year 1Q results(Billion yen)

Air conditioning and pipes+0.4Electrical and instrumentation

ICTSide business+0.0+0.0+2.6
GroupCompany(0.0)
Power distribution

Consolidation
adjustment

(0.5)

+0.6

Power transmission and civil engineering

(0.3)
23.2
20.2

FY2023
1Q

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FY20241Q5

Orders Received (Non-Consolidated)

1 2024 fiscal year 1Q results

Orders received were ¥22.5 billion, up ¥2.8 billion year on year.
➤ Contribution from large-scale construction orders

FY20231Q(Billion yen)

FY20241Q

YoYchange

19.6

Orders received

22.5+2.8

Orders Received by Type of Construction
FY2023 1Q

Orders Received by Region(Billion yen)

FY2024 1Q

FY2023 1Q

FY2024 1Q(Billion yen)

9.3

8.0

18.4 17.7

7.1

3.6

3.2

3.1

2.5

2.2
1.3

3.4

0.9
0.2

Power distributionPowertransmission andcivil engineering

Electrical andinstrumentation

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Air conditioningand pipes

ICT0.3

Side business

Shikoku and others

1.3

0.8

0.3

Kanto area

Kansai area

6Net Sales (Non-Consolidated)

1 2024 fiscal year 1Q results

Sales were ¥19.9 billion, up ¥3.5 billion year on year.
➤ Steady progress in large-scale construction projects due to stable procurement of materials and equipment and detailed process control

FY2023
1Q(Billion yen)

FY2024
1Q

16.3

Net sales

YoYchange

19.9+3.5

Net Sales by Type of Construction
FY2023 1Q

Net sales by Region(Billion yen)

FY2024 1Q

FY2023 1Q

FY2024 1Q(Billion yen)

8.4
7.7
6.8
15.0

16.5

4.1
2.3
1.2

Power distribution

2.7

0.8

Powertransmission andcivil engineering

0.6
Electrical andinstrumentation

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Air conditioning
and pipes

0.6
ICT

0.2

2.6

0.3

Side business

Shikoku and others

0.8

0.5

Kanto area

Kansai area

0.77

Net Sales of Construction Contracts Carried Forward (non-consolidated)

1 2024 fiscal year 1Q results

Net sales of construction contracts carried forward reached a high level record of 56.8 billion yen, up 5.6 billion yen year on year.

End of June2023(Billion yen)

End of June
2024

51.1

Orders carried overYoYchange56.8+5.6

Orders Carried over by Type of construction
End of June 2023

Orders Carried over by Region(Billion yen)

End of June 2024

33.8

End of June 2023

End of June 2024

(Billion yen)

36.4 36.6

29.6

12.8
4.9

6.2

7.8
4.5

4.6

6.9

Power transmission
and civilElectricalengineeringand instrumentation
conditioning
andandpipesPowerconditioning
Electricaland AirAir
Power distribution
transmission andpipesinstrumentation
civil engineering
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9.5
4.1

5.0

ICTICT

5.1

Shikoku and others

Kanto area

7.2

Kansai area

8

Financial Position (Consolidated)(Billion yen)

1 2024 fiscal year 1Q results

End of March2024

End of June
2024

YoY
ChangeCurrent assets

58.1

51.1

(7.0)

Non-current
assets

45.0

44.9

(0.0)

103.2

96.1

(7.0)

Current liabilities

31.4

24.6

(6.7)

Non-current
liabilities

9.9

9.9

(0.0)

Total liabilities

41.4

34.5

(6.8)

Net Assets *61.7

61.5

(0.2)

Total liabilities and net
assets

103.2

96.1

(7.0)

Equity ratio

59.8%

64.0%

+4.2

Total assets

Main change factors
Notes receivable, accounts receivable fromcompleted construction contracts and other (3.6)
Deposits paid to subsidiaries and associates (3.3)

Notes payable, accounts payable for construction
contracts and other (3.5)
Income taxes payable (1.4)

Profit +1.2
Other comprehensive income (0.1)
Dividends paid (1.2)* Net assets include "Non-controlling interests."
Copyright© YONDENKO CORPORATION. All Rights Reserved.

9AgendaⅠ

2024 fiscal year 1Q results

ⅡForecast for 2024 fiscal year

Ⅲ

Share split and Revision of dividend
forecast (dividend increase)

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10

Financial results forecast

Ⅱ Forecast for 2024 fiscal year

■ Full-year earnings forecasts remain unchanged from the April 26, 2024 announcement.
■ Both consolidated and non-consolidated forecasts are for higher sales and lower profits. (Non-consolidated operating profit increased)

Consolidated(Billion yen)

FY2023
ActualFY2024ForecastNon-consolidated

YoYchangeFrom thepreviousyear %(Billion yen)

FY2023
ActualFY2024
Forecast

YoYchangeFrom thepreviousyear %Net sales

92.1

100.0+7.8

108.6%Net sales

77.2

86.0+8.7

111.4%

Operatingprofit6.4

6.0(0.4)

93.1%

Operatingprofit

4.1

4.3

+0.1

104.5%

Ordinary
profit7.0

6.5(0.5)

92.7%

Ordinary
profit4.9

4.9(0.0)

98.2%

Profit attributableto owners ofparent4.5

4.0(0.5)

87.5%

Profit3.5

3.1(0.4)

88.5%

Basic earnings
per share *96.71 yen

84.69 yen(12.02) yenー

Basic earnings
per share *74.13 yen

65.63 yen

(8.5) yenー* the shares will be split at the ratio of three shares for every one with an effective date of October 1, 2024.
Basic earnings per share is calculated based on the assumption that the share split took place at the beginning of FY2023.

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11

AgendaⅠ

2024 fiscal year 1Q results

Ⅱ

Forecast for 2024 fiscal year

Ⅲ

Share split and Revision of dividend
forecast (dividend increase)

Copyright© YONDENKO CORPORATION. All Rights Reserved.

12

Share split and Revision of dividend forecast (disclosed on July 31, 2024)

Ⅲ Share split and Revised of dividend forecast (dividend increase)

Share split■ The shares will be split at the ratio of three shares for every one share with an effective date of October 1, 2024. The aim is to increase
the liquidity of our shares and expand our investor base by reducing the amount per unit of investment in our shares.

Revision of dividend Forecast (Dividend increase)■ The interim and year-end dividend forecasts for the fiscal year ending March 2025 have been revised as shown in the table below.
■ When converted into annual dividends per share before the split, the dividend increased by ¥10 from the previous forecast of ¥140to ¥150.

Annual dividends
2nd quarter-end
Previous forecast (April 26, 2024)

70.00 yen

Revised forecast[Conversion before split]

75.00 yen

Results for the previous fiscal year (FY2023)

60.00 yen

Year-end

Total

70.00 yen

140.00 yen

25.00 yen- (NOTE)[75.00 yen][150.00 yen]

80.00 yen

140.00 yen(NOTE)The annual dividend per share forecast is not presented because a simple calculation cannot be made due to the share split.

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Dividends and Dividend Payout Ratio (After Share Split)

Ⅲ Share split and revision of Dividend forecast (Dividend Increase)

59.0%

Payout ratio
Year-end dividend (after share split)

60.00

50.00

37.4%

26.2%

0.500

50

Payout ratio

40.00

(Yen)

48.3%

Interim dividend (after share split)

37.6%

46.67

27.4%

0.400

2521.5%

3030

0.300

26.67

30.00
0.20020.00

10.00

16.67
13.33

13.33

7.5

6.67

5.83

6.67

6.67

FY2018FY2019FY202018.33

150.100

25

1020
11.67

0.000

150.00-0.100

FY2021

FY2022

FY2023

FY2024(Forecast)※ The shares were split at the ratio of two shares for every one share on October 1, 2021. In addition, The shares will be split at the ratio of three shares for every one share with an effective dateof October 1, 2024, Accordingly, the dividend per share is converted into the number of shares as of October 1, 2024.

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14

Contact Information
YONDENKO CORPORATION Planning Department.
E-mail:hnkikaku@mail.yondenko.co.jp

All forward-looking statements, including the data and financial forecasts contained in these materials, are based on information currently
available to the Company and on certain assumptions deemed to be reasonable. Actual results may differ from these forecasts for a numberof reasons.

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