Consolidated Financial Results
for the Three Months Ended September 30, 2022
[IFRS]
November 14, 2022
Company name: Nippon Koei Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 1954
URL: https://www.n-koei.co.jp/english/
Representative: Hiroaki Shinya, Representative Director and President
Contact: Yasushi Hirusaki, Director General of Corporate Management Headquarters, Director
Phone: +81-3-3238-8040
Scheduled date of filing quarterly securities report: November 14, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: None
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended September 30, 2022 (from July 1, 2022 to September 30,
2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
ProfitRevenue
Operating profit Profit before tax
Profitattributable toowners of parent
Three months ended
Million yen% Million yen% Million yen% Million yen% Million yen%
September 30, 2022
26,782 11.8
1,405
1,555
1,528
584
September 30, 2021
23,960 13.8
(320)
(209)
(220)
(264)
-

Three months ended
September 30, 2022
September 30, 2021

Basic earnings
per shareYen
38.84(17.58)

Diluted earnings
per shareYen
38.84(17.58)(2) Consolidated Financial Position
Total assets
As of
September 30, 2022
June 30, 2022

Million yen
189,124
173,926

Total equity
Million yen
81,56581,969Equityattributable toowners of parent
Million yen
76,54478,088

Ratio of equity
attributable toowners of parent tototal assets

%
40.5
44.9

2. Dividends
Dividends per share
1st
2nd
3rd
quarter-end quarter-end quarter-end

Yen
Yen
Yen
Fiscal year ended June 30, 2022
-Fiscal year ending June 30, 2023
Fiscal year ending June 30, 2023(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Year-end

Total

Yen
125.00Yen
125.00125.00125.003. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2023 (July 1, 2022 to June 30, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to owners of
Basic earnings
Revenue
Operating profit
parentper share
Million yen%
Million yen%
Million yen%
Yen
Full year
145,000
11.0
11,300
24.6
6,700
1.8
444.93(Note) Revision to the financial results forecast announced most recently: None1

* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes in scopeof consolidation): None
New companies: None
Excluded companies: None
(2) Changes in accounting policies and changes in accounting estimates
1) Changes in accounting policies required by IFRS: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
(3) Total number of issued shares (ordinary shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022:
15,060,314 shares
As of June 30, 2022:
15,060,314 shares2) Total number of treasury shares at the end of the period
As of September 30, 2022:
2,010 shares
As of June 30, 2022:
1,811 shares
3) Average number of shares during the period
Three months ended September 30, 2022:
Three months ended September 30, 2021:

15,058,412 shares
15,048,080 shares* These consolidated financial results are not subject to audit procedures by certified public accountants or the audit firm.
* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements disclosed herein are based on information available to
the Company as of the publication date of this document and it is not intended to guarantee the Company's future
performance. Actual results may significantly differ from the forecasts due to a wide range of factors.

2

Table of Contents of Attachment
1. Qualitative Information on Quarterly Financial Results ............................................................................................. 2(1) Explanation of Operating Results .......................................................................................................................... 2(2) Explanation of Financial Position .......................................................................................................................... 3(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements ....................... 4
2. Condensed Quarterly Consolidated Financial Statements and Primary Notes ............................................................ 5(1) Condensed Quarterly Consolidated Statement of Financial Position .................................................................... 5(2) Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income ............................ 7(3) Condensed Quarterly Consolidated Statement of Changes in Equity.................................................................... 9(4) Condensed Quarterly Consolidated Statement of Cash Flows ............................................................................ 11(5) Primary Notes to Condensed Quarterly Consolidated Financial Statements ....................................................... 12(Notes on Going Concern Assumption) .............................................................................................................. 12(Notes on Significant Changes in Shareholders’ Equity) .................................................................................... 12(Segment Information) ........................................................................................................................................ 12(Significant Subsequent Events).......................................................................................................................... 15
3. Other Information ...................................................................................................................................................... 17(1) Status of Orders and Revenue.............................................................................................................................. 171

1. Qualitative Information on Quarterly Financial Results(1) Explanation of Operating Results
During the three months ended September 30, 2022 (July 1, 2022 to September 30, 2022), the Japanese economy
is expected to recover due to the effects of various policies as the transition to a new stage of life with COVID-19
progresses. However, while global monetary tightening, etc. continues, we need to pay close attention to the effects
of price increases, supply-side constraints, and fluctuations in the financial and capital markets in addition to therisk that the downside in overseas economies would hold down the Japanese economy.
With regard to the business environment surrounding NIPPON KOEI CO., LTD. (the “Company”) and its
subsidiaries (together, the “Group”), we recognize that the situation is unpredictable. There is an increasing risk of
uncertainty in the international situation such as global inflation and a weak yen triggered by the COVID-19
pandemic and Russia’s invasion of Ukraine while we are facing global issues that require immediate action, suchas climate change and income disparities. In the Consulting Business, the domestic market is expected to continue
to secure public work budgets for national resilience and regional revitalization and the market is expected to expand
especially in the field of disaster prevention and mitigation. In the overseas market, the Japanese government isaiming to strengthen budgets with “Infrastructure System Overseas Promotion Strategy 2025” as an axis, butbusiness operations are expected to be difficult due to the delay in formation of some projects caused by the impact
of COVID-19 and review of the business in association with inflation and yen depreciation. In the Urban & Spatial
Development Business, the need for sustainable urban restructuring, which attracts ESG investment, is increasingin Japan, Europe and the United States. Also, the need for the urban development business including preparationand maintenance of transportation-related facilities and peripheral infrastructures is strong in developing countries.
In the Energy Business, new opportunities are expected to be created leading to competition toward the target ofcarbon neutrality in 2050 in addition to the demand for updating the aging existing equipment in Japan. However,
it is necessary to agilely cope with policy change due to the rising global energy cost although the trend of shifting
to renewable energy remains unchanged.
The Group is taking steps to prevent COVID-19 with an active defense system. In addition, to achieve work-lifebalance and improve productivity, we are promoting telework and other work style reforms.
Under such a market environment, we have drawn up the medium-term management plan “Building Resilience2024” to implement three resilience policies, and positioned the period from July 2021 to June 2024, which is firststep of the “NKG Global Strategy 2030,” as a transformation period to make the Group resilient.
As the first resilience policy, we reorganized the conventional five business operations into three domains(Consulting, Urban & Spatial Development, and Energy) to strengthen the business axis. As the second resilience
policy, we will aim to realize matrix management by transitioning to a holding company structure and preparing
and maintaining a regional management system. As the third resilience policy, we aim to strengthen technologicaldevelopment and human resource development toward the establishment of "NKG brand" and "NKG quality." Also,
we will promote “well-being management” as a basis for that.
As a result, the Group ended the three months of the current fiscal year with orders received increased 25.7% year
on year to ¥31,836 million due to strong performance in each segment. Revenue having increased 11.8% year on
year to ¥26,782 million, mainly due to steady progress in the Consulting Business. Operating profit increased to¥1,405 million (loss of ¥320 million yen in the same period of the previous fiscal year) due to gains on sales ofshares of associated company and gains on investment securities in the Energy Business. As a result, profit
attributable to owners of parent amounted to ¥584 million (loss of ¥264 million in the same period of the previous
fiscal year).
Revenue for the three months ended September 30, 2022 were ¥26,782 million, an achievement rate of 18.5%
against the revenue forecast of ¥145,000 million for the current fiscal year (same period of previous fiscal year:
18.3%). This is due to the fact that, as the Group's business structure, a large proportion of operations is progressingin the second half of the fiscal year and there are seasonal fluctuations in the recording of revenue. On the other
hand, expenses such as selling, general and administrative expenses were generated evenly throughout the year.

2

Business results for each segment are as follows: As some of our subsidiaries have changed their reportablesegments, effective from the three months ended September 30, 2022, comparisons with the first three months ofthe previous fiscal year are based on the figures that have been reclassified into the new segments. For details of
this change in reporting segments, please refer to "2. Condensed Quarterly Consolidated Financial Statements andPrimary Notes (5) Primary Notes to Condensed Quarterly Consolidated Financial Statements (Segment
Information) 2. Changes in reportable segments".
[Consulting]In the Consulting Business, we worked to utilize new technologies, assure quality and safety and increase
productivity. We also promoted cross-sectional co-creation projects such as those related to river basin flood control,
climate change, SDGs, renewable energy and multi-hazards.
As a result, orders received increased 1.0% year on year to ¥16,838 million and revenue increased 17.8% year on
year to ¥14,842 million due to steady progress in the domestic projects and operating loss increased 43.6% year on
year to ¥347 million due to the impact of increased expenses in overseas business.
[Urban & Spatial Development]
In the Urban & Spatial Development Business, we worked to form urban (re-)development projects centering on
NIPPON KOEI URBAN SPACE CO., LTD., which was established by consolidating the Urban & Spatial
Development Business of the Company and our group company TAMANO CONSULTANTS CO., LTD. (on July
1, 2022).
We also worked to expand business in the U.K. and North American markets and to establish a business foundationin the Asian market through group-wide collaboration.
As a result, orders received increased 81.3% year on year to ¥11,795 million due to the strong performance of
BDP HOLDINGS LIMITED and its subsidiaries, revenue increased 6.6% year on year to ¥7,719 million andoperating loss amounted to ¥157 million (same period of previous fiscal year: operating profit of ¥154 million) due
to prior investment in building a foundation for business expansion.
[Energy]In the Energy Business, we worked to strengthen the structure of the existing energy-related consulting andengineering projects, build a foundation for energy management projects such as battery storage and aggregationand stabilize the manufacturing projects by strengthening core products and developing new ones.
As a result, orders received increased 46.7% year on year to ¥3,128 million, revenue increased 1.7% year on yearto ¥3,991 million, and operating profit increased 788.7% year on year to ¥2,312 million by gain on sale of sharesof PT. ARKORA HYDRO, a former associated company of the Group, and gain on investment in securities.
(2) Explanation of Financial Position
Total assets at the end of the first three months of the fiscal year, amounted to ¥189,124 million, an increase of¥15,198 million from the end of the previous fiscal year. This was mainly due to a ¥6,508 million increase in cash
and cash equivalents and a ¥6,871 million increase in contract assets.
Total liabilities were ¥107,558 million, an increase of ¥15,602 million from the end of the previous fiscal year.
This was mainly due to a ¥18,373 million increase in borrowings.
Total equity was ¥81,565 million, a decrease of ¥403 million from the end of the previous fiscal year. This was
mainly due to a ¥1,296 million decrease in retained earnings.
As a result, ratio of equity attributable to owners of parent to total assets decreased 4.4 percentage points from theend of the previous fiscal year to 40.5%.

3

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements
The full-year forecasts remain unchanged from those announced on August 12, 2022 since the performance ofGroup for the first three months of the current fiscal year is generally progressing within the range of the forecastof Group at the beginning of the fiscal year in each segment.

4

2. Condensed Quarterly Consolidated Financial Statements and Primary Notes(1) Condensed Quarterly Consolidated Statement of Financial Position(Millions of yen)

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables
Contract assets
Other financial assets
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Right-of-use assets
Goodwill
Intangible assets
Investment property
Investments accounted for using equity method
Retirement benefit asset
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets

5

As of June 30, 2022

As of September 30, 2022

17,971
27,042
26,4503,779
8,290
83,53524,48025,28133,322
3,622
7,707
94,414

41,403
9,067
10,207
7,025
6,250
2,434
3,624
6,423
2,429
1,523
90,390173,926

43,867
10,232
10,616
6,840
6,215
1,723
3,637
8,126
2,658
791
94,710189,124

(Millions of yen)

Liabilities and equity
Liabilities
Current liabilities
Borrowings
Lease liabilities
Trade and other payables
Contract liabilities
Other financial liabilities
Income taxes payable
Provisions
Other current liabilities
Total current liabilities
Non-current liabilities
Borrowings
Lease liabilities
Other financial liabilities
Retirement benefit liability
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShare capital
Capital surplus
Treasury shares
Other components of equity
Retained earnings
Total equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity

6

As of June 30, 2022

As of September 30, 2022

13,1482,729
10,400
8,837
4,561
2,551
653
12,95755,84032,214
2,687
8,803
8,989
4,256
118
1,323
13,34571,737

19,288
6,556
665
3,896
674
4,683
351
36,116
91,956

18,595
7,773
668
3,908
74
4,518
280
35,820107,558

7,501
6,454
(34)
5,252
58,91478,0883,881
81,969173,926

7,501
6,426
(6)
5,005
57,61776,544
5,021
81,565
189,124

(2) Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income(Condensed Quarterly Consolidated Statement of Profit or Loss)

For the three months
ended September 30, 2021
(From July 1, 2021 toSeptember 30, 2021)
23,960(17,542)6,418(6,946)(Millions of yen)
For the three months
ended September 30, 2022
(From July 1, 2022 toSeptember 30, 2022)
26,782(19,679)
7,103(8,033)

105

8

161
(59)
(320)
218
(107)
(209)
(11)
(220)

2,492
(166)
1,405
421
(271)
1,555
(26)
1,528

Profit (loss) attributable to
Owners of parent
Non-controlling interests
Profit (loss)

(264)
44
(220)

584
943
1,528

Earnings (loss) per share
Basic earnings (loss) per share
Diluted earnings (loss) per share(17.58)(17.58)

38.84
38.84

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Share of profit of investments accounted
for using equity method
Other income
Other expenses
Operating profit (loss)
Finance income
Finance costs
Profit (loss) before tax
Income tax expense
Profit (loss)

7

(Condensed Quarterly Consolidated Statement of Comprehensive Income)

Profit (loss)
Other comprehensive income
Items that will not be reclassified to profit or loss
Equity financial assets measured at fair value through othercomprehensive income
Remeasurements of defined benefit plans
Share of other comprehensive income of investments
accounted for using equity method
Total of items that will not be reclassified to profit or loss
Items that may be reclassified to profit or loss
Cash flow hedges
Exchange differences on translation of foreign operations
Share of other comprehensive income of investments
accounted for using equity method
Total of items that may be reclassified to profit or loss
Other comprehensive income
Comprehensive income
Comprehensive income attributable to
Owners of parent
Non-controlling interests
Comprehensive income

8

For the three months
ended September 30, 2021
(From July 1, 2021 toSeptember 30, 2021)(220)(Millions of yen)
For the three months
ended September 30, 2022
(From July 1, 2022 toSeptember 30, 2022)
1,528

175

(19)

0

1

176

(18)

1
(280)

1
83

(16)

(7)

(295)
(119)
(339)

77
59
1,588

(377)
38
(339)

430
1,157
1,588

(3) Condensed Quarterly Consolidated Statements of Changes in Equity
For the three months Ended September 30, 2021 (From July 1, 2021 to September 30, 2021)(Millions of yen)
Equity attributable to owners of parent
Other components of equity

Share capital

Balance as of July 1, 2021

Capital surplus

Treasury shares

6,428

(0)

7,480

Exchangedifferences on
Cash flow hedges
translation offoreign operations
1,982

Equity financial
assets measured
at fair value
through othercomprehensive
income(30)

867

Profit (loss)

-

-

-

-

-

-

Other comprehensive income

-

-

-

(290)

1

175

Total comprehensive income

-

-

-

(290)

1

175

Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

(2)

-

-

-

Dividends

-

-

-

-

-

-

Purchase and disposal of non-controlling interests

-

(4)

-

-

-

-

Transfer to retained earnings
Total transactions with owners
Balance as of September 30, 2021

-

-

-

-

-

-

(4)

(2)

-

-

-

7,480

6,423

(2)

1,692

(28)

1,043

Equity attributable to owners of parent
Other components of equity
Remeasurementsof defined benefit
plans
Balance as of July 1, 2021

Retained earnings

Total

Non-controllinginterests

Total

Total

-

2,820

53,99670,725

1,569

72,294

Profit (loss)

-

-

(264)

(264)

44

(220)

Other comprehensive income

0

(113)

-

(113)

(5)

(119)

Total comprehensive income

0

(113)

(264)

(377)

38

(339)

Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

-

(2)

-

(2)

Dividends--(1,128)(1,128)(15)(1,143)Purchase and disposal of non-controlling interests

-

-

-

(4)

(65)

(69)

Transfer to retained earnings

(0)

(0)

0

-

-

-

Total transactions with owners
Balance as of September 30, 2021

(0)

(0)

(1,128)(1,135)(80)(1,215)-2,706

52,603

69,211

1,527

70,7399For the three months Ended September 30, 2022 (From July 1, 2022 to September 30, 2022)(Millions of yen)
Equity attributable to owners of parent
Other components of equity

Share capital

Balance as of July 1, 2022
ProfitOther comprehensive income

Capital surplus

Treasury shares

Exchangedifferences on
Cash flow hedges
translation offoreign operations

Equity financial
assets measured
at fair value
through othercomprehensive
income

7,501

6,454

(34)

4,620

(24)

656

-

-

-

-

-

-

-

-

-

(137)

1

(19)

Total comprehensive income

-

-

-

(137)

1

(19)

Change in scope of consolidation

-

-

-

(91)

-

-

Purchase of treasury shares

-

-

(0)

-

-

-

Dividends

-

-

-

-

-

-

Purchase and disposal of non-controlling interests

-

(28)

28

(0)

-

-

Transfer to retained earnings

-

-

-

-

-

-

-

(28)

27

(91)

-

-

7,501

6,426

(6)

4,391

(22)

636

Total transactions with owners
Balance as of September 30, 2022

Equity attributable to owners of parent
Other components of equity
Remeasurementsof defined benefit
plans
Balance as of July 1, 2022

Retained earnings

Total

Non-controllinginterests

Total

Total

-

5,252

58,91478,0883,881

81,969Profit

-

-

584

584

943

1,528

Other comprehensive income

0

(154)

-

(154)

213

59

Total comprehensive income

0

(154)

584

430

1,157

1,588

Change in scope of consolidation

-

(91)

-

(91)

14

(77)

Purchase of treasury shares

-

-

-

(0)

-

(0)

Dividends--(1,882)(1,882)(31)(1,914)(0)Purchase and disposal of non-controlling interests

-

(0)

-

(0)

-

Transfer to retained earnings

(0)

(0)

0

-

-

-

(0)

(92)

(1,881)(1,974)(17)(1,992)-

5,005

57,61776,544

5,021

81,565

Total transactions with owners
Balance as of September 30, 202210

(4) Condensed Quarterly Consolidated Statement of Cash Flows
For the three months
ended September 30, 2021
(From July 1, 2021 toSeptember 30, 2021)
Cash flows from operating activities
Profit (loss) before tax
Depreciation and amortization
Loss (gain) on financial assets measured at fair value through profit or loss
Gain on sale of shares of associates
Interest and dividend income
Interest expenses
Loss (gain) on derivatives
Decrease (increase) in trade and other receivables
Decrease (increase) in contract assets
Decrease (increase) in insurance claims receivable
Increase (decrease) in trade and other payables
Increase (decrease) in contract liabilities
Increase (decrease) in consumption taxes payable
Increase (decrease) in deposits received
Increase (decrease) in accrued expenses
Increase (decrease) in provisions
Other
Sub total
Dividends received
Interest received
Interest paid
Head office relocation expenses 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 property, plant and equipment and investment property
Purchase of intangible assets
Purchase of other financial assets
Proceeds from sale and redemption of other financial assets
Proceeds from sale of shares of associates
Payments for acquisition of subsidiaries
Collection of loans receivable
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Dividends paid
Other
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Effect of exchange rate changes on cash and cash equivalents
Cash and cash equivalents at end of period

11(Millions of yen)
For the three months
ended September 30, 2022
(From July 1, 2022 toSeptember 30, 2022)

(209)
1,177
55
(107)
107
(78)
836
(5,574)(1,500)(2,543)(453)(2,512)
(842)
1,464
1,416
(197)
(8,961)35
71(101)(2,174)(11,131)

1,555
1,268
(1,030)(1,357)
(113)
118
(337)
1,879
(6,924)(1,595)
218
(864)
(300)
1,568
69
(238)
(6,083)
41
605
(139)
(74)
(2,628)(8,278)

(194)
105
(274)
(187)
(50)
71
(216)
6
1
(738)

(0)
22
(2,124)
(87)
(57)
1,632
(851)
556
0
(908)

32,000(16,072)
(959)
(504)
(1,119)(71)
13,273
1,404
17,838(111)
19,13191,000(72,000)
(971)
(768)
(1,855)(0)
15,402
6,215
17,971
293
24,480(5) Primary Notes to Condensed Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.

(Notes on Significant Changes in Shareholders’ Equity)
There is no relevant information.

(Segment Information)
1. Outline of reportable segments(1) Method of determination of reportable segments
Reportable segments of the Group are determined as segments whose separate financial information isaccessible from among the constituent units of the Group and are periodically used by the Board of Directors
to determine the allocation of management resources and to evaluate achievements.
The Group has business management divisions separated by type of products and services at the head office.
Each business management division formulates a comprehensive strategy based on the products and services
and engages in conducting business activities.
In line with the above, the Group is composed of segments divided by products and services, with eachbusiness management division serving as the foundation, and the three reportable segments are “Consulting”,“Urban & Spatial Development” and “Energy.”(2) Types of products and services by reportable segment
The “Consulting” engages in business within and outside Japan such as site surveying, planning,
evaluation/assessment, designing, and construction management. It operates in the fields of rivers and water
resources, water and sewage, agricultural and rural development, dams and power generation, transportation(roads, railroads, ports and airports), urban and regional development, geology, disaster prevention, sandcontrol, environment, information systems, etc.
"Urban & Spatial Development” engages in the structuring, planning, design, and operation of urban andspatial development business.
The “Energy” engages in manufacturing and sale of electric power equipment and control devices, planning,
design, construction and construction management of mechanical, electrical and communication facilities aswell as the energy management business utilizing distributed energy resources.
2. Changes in reportable segments
On July 1, 2022, the Urban & Spatial Development Business of the Company was transferred by succession
to our consolidated subsidiary TAMANO CONSULTANTS CO., LTD. through a company split (simplified
absorption-type split), and the trade name of the said company was changed to NIPPON KOEI URBANSPACE CO., LTD. (“NIPPON KOEI URBAN SPACE”). In association with the organizational restructuring
due to the relevant company split, NIPPON KOEI URBAN SPACE and its subsidiary TAMANO ECOST CO.,LTD. and our consolidated subsidiary NAKAZE KAMP CO., LTD. have had their segment classification
changed from the “Consulting Business” to the “Urban & Spatial Development Business.”
Please note that segment information for the first quarter of the previous fiscal year is provided based on the
new reporting segments.
3. Information about reportable segments
The internal intersegment revenue or transfers are based on the transaction price determined after pricenegotiations taking into consideration the market price, etc.

12For the three months ended September 30, 2021 (from July 1, 2021 to September 30, 2021)(Millions of yen)
Reportable Segments
Urban & Spatial
Development

Consulting

EnergyTotal

Revenue
Revenue from external customers
Intersegment revenue and transfers
Total
Segment profit (loss)

12,597

7,237

3,925

23,761

63

34

59

157

12,661

7,272

3,984

23,918

(242)

154

260

172

Finance income
Finance costs
Profit (loss) before tax

Others(Note1)

Adjustments(Note 2)

Total

Consolidated

Revenue
Revenue from external customers

199

23,960-23,960Intersegment revenue and transfers

143

300

(300)

-

343

24,261(300)

23,960

(494)

(322)

1

(320)

Total
Segment profit (loss)
Finance income

218

Finance costs(107)

Profit (loss) before tax(209)Notes: 1. The category of “Others” includes revenues from constituent units that have not earned revenues or earn only incidental
revenues.
2. "Adjustments" is mainly elimination of transaction between segments.

13

For the three months ended September 30, 2022 (from July 1, 2022 to September 30, 2022)(Millions of yen)
Reportable Segments
Urban & Spatial
Development

Consulting

EnergyTotal

Revenue
Revenue from external customers

14,842

7,719

3,991

26,553

Intersegment revenue and transfers

168

62

60

291

15,010

7,781

4,052

26,844

(347)

(157)

2,312

1,807

Total
Segment profit (loss)
Finance income
Finance costs
Profit before tax

Others(Note1)

Adjustments(Note 2)

Total

Consolidated

Revenue
Revenue from external customers

229

26,782-

26,782

Intersegment revenue and transfers

177

469

(469)

-

407

27,251(469)

26,782

(405)

1,401

3

1,405

Total
Segment profit (loss)
Finance income

421

Finance costs(271)

Profit before tax

1,555

Notes: 1. The category of “Others” includes revenues from constituent units that have not earned revenues or earn only incidental
revenues.
2. "Adjustments" is mainly elimination of transaction between segments.

14

(Significant Subsequent Events)(Issuance of new shares as restricted stock compensation)
The Board of Directors resolved to issue new shares for restricted stock compensation at the extraordinary Boardof Directors’ meeting held on September 29, 2022, as follows. This is a system whereby an eligible person has theright to issue or dispose of the Company’s common stock by paying all the monetary claims provided by theCompany as in-kind contribution in accordance with provisions of the Companies Act, Article 208, Paragraph 2.
The transfer-restricted share allotment agreement between each eligible person and the Company stipulates:
1. Purpose and reason for issuance
The Company aims to have the directors (not including outside directors; “Eligible Directors”) share benefits
and risks of stock price fluctuations with shareholders and further enhance their willingness to contribute toimproving stock prices and enhancing corporate value. Therefore, the Company decided, at the Board of
Directors’ meeting held on August 14, 2017, to introduce a restricted stock compensation system (the“System”), which will issue restricted stock to Eligible Directors.
Furthermore, the 73rd Annual General Meeting of Shareholders held on September 28, 2017, approved, under
the System, setting the total amount of monetary compensation claims payable to the Eligible Directors ascompensation related to restricted stock at a level where it does “not exceed an annual amount of ¥60 million.”
In addition, the total number of 50,000 shares, which are restricted stock to be allotted to Eligible Directors
will be the upper limit of the number of restricted shares to be allotted in each fiscal year, and the transfer
restriction period of restricted stock will be between one year to five years, determined by the Board of
Directors.
Also, in the 78th Annual General Meeting of Shareholders which was held on September 29, 2022, theCompany partially amended the current system to newly establish provisions for handling the issuance oftransfer-restricted stocks after approval of a proposal for organizational restructuring such as stock transfer
plans at the General Meeting of Shareholders of the Company, and it was approved.
2. Issuance overview(a) Payment date(b) Class and number of shares to be issued(c) Issue price(d) Total issue price of shares to be issued(e) Capitalization amount(f) Total capitalization amount(g) Method of offer or allotment(h) Method of contribution(i) Allottees, number thereof and number ofshares to be allotted

October 28, 2022
8,634 shares of common stock of the Company¥3,605 per share¥31,125,570¥1,803 per share¥15,567,102
Allotment of specified restricted stocks
In-kind contribution of monetary compensation claims
8,634 shares to eight directors of the Company(excluding outside directors)(j) Transfer restriction period

October 28, 2022 to October 27, 2025(k) Others

Issue of new shares to be allotted is conditioned on the
securities registration statement taking effect in accordancewith the Financial Instruments and Exchange Act.

15

(Litigation)
On June 19, 2014, NIPPON CIVIC CONSULTING ENGINEERS CO., LTD. (“NCC”), a consolidated subsidiaryof the Company, was sued by Osaka Prefecture for damages resulting from a project related to designing a shieldtunnel under tort liability. Due to the court's provisional seizure decision on the above claim in June 2014, NCC has
deposited a provisional seizure of ¥750 million (other current assets) in July 2014 with the Legal Affairs Bureau.
The Osaka High Court rendered a judgement on September 29, 2022, acknowledging damages of ¥623 million anddelinquency charges from July 6, 2022 for ¥394 million out of total damages. The judgement became final as neither
a final appeal nor a petition for acceptance of an appeal was filed by either party by the designated deadline, October
14, 2022. NCC has paid the amount of judgement to the Osaka Prefecture in October 2022.
(Changes from Subsidiary to Associate)
On November 14, 2022, the Company resolved to transfer partial ownership interest in IRONMONT HYDRO
PTE. LTD. (“IH”), a consolidated subsidiary of the Company, to IH. The Company plans to complete the transfer
by the end of December 2022. After the transfer, the proportion of voting rights held by the Company will bechanged from 62.2% to 43.0% and IH will be classified as the Company’s associate under the equity method, andwill no longer be a consolidated subsidiary. The impact on the Group’s consolidated statement of profit or loss is
not expected to be material.

163. Other Information(1) Status of Orders and Revenue
By period_

Revenue 2

Revenue 1

Orders received

Category/Segment

For the fiscal year ended
June 30, 2022
AmountComposition(M illions of yen)(%)

16,664

65.8

16,83852.9

84,551

64.5

Urban & Spatial Develop ment

6,504

25.7

11,79537.1

32,147

24.5

Energy

2,133

8.4

3,128

9.8

14,343

10.9

Others

17

0.1

72

0.2

123

0.1

Total

25,319100.0

31,836100.0

131,166

100.0

Consulting

13,44056.1

15,58758.2

80,29961.5

Urban & Spatial Develop ment

7,085

29.6

7,719

28.8

34,787

26.6

Energy

3,235

13.5

3,246

12.1

14,804

11.3

Others

199

0.8

229

0.9

783

0.6

Total

23,960100.0

26,782100.0

130,674

100.0

Consulting

12,59752.6

14,84255.4

75,00057.4

Urban & Spatial Develop ment

7,237

30.2

7,719

28.8

36,091

27.6

Energy

3,925

16.4

3,991

14.9

18,799

14.4

Others

199

0.8

229

0.9

783

0.6

Total

23,960100.0

26,782100.0

130,674

100.0

Category/Segment

Foreign exchange andother adjustments

For the three months ended
September 30, 2022
AmountComposition(M illions of yen)(%)

Consulting

By period_

Outstanding Orders

For the three months ended
September 30, 2021
AmountComposition(M illions of yen)(%)

For the three months ended
September 30, 2021
AmountComposition(M illions of yen)(%)

For the three months ended
September 30, 2022
AmountComposition(M illions of yen)(%)

For the fiscal year ended
June 30, 2022
AmountComposition(M illions of yen)(%)

Consulting

880

2,251

6,761

Urban & Spatial Develop ment

(335)

(735)

1,758

Energy

(1)

84

(2)

Others

-

-

-

Total

543

1,600

8,518

Consulting

133,71071.7

144,31771.6

140,734

72.4

Urban & Spatial Develop ment

30,734

16.5

34,11116.9

30,76915.8

Energy22,025

11.8

23,093

11.5

23,004

11.8

Others

-

-

-

-

-

-

Total

186,469100.0

201,522100.0

194,508

100.0

Notes: 1. The above amounts are for external customers, and do not include inter-segment transactions or transfers.
2. Revenue 1 is by segment which received orders. Revenue 2 is by segment which provided services.
3. Foreign exchange and other adjustments include those related to exchange differences and outstanding order revisions.
4. As disclosed in "2. Condensed Quarterly Consolidated Financial Statements and Primary Notes (5) Primary Notes toCondensed Quarterly Consolidated Financial Statements (Segment information)," the Group has changed its reportablesegments since the first quarter of the current fiscal year. The figures for the three months ended September 30, 2021 and forthe previous fiscal year have been provided based on the new reporting segments.

17