Consolidated Financial Results
for the Nine Months Ended March 31, 2022
[IFRS]
May 13, 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: May 13, 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 Nine Months Ended March 31, 2022 (from July 1, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
ProfitRevenue
Operating profit Profit before tax
Profitattributable toowners of parent
Nine months ended
Million yen% Million yen% Million yen% Million yen% Million yen%
March 31, 2022
95,682 10.6
9,509 39.0
10,373 52.6
7,108 70.9
7,083 65.9
March 31, 2021
86,537
6,839
6,798
4,159
4,270
Basic earnings
per share
Nine months ended
March 31, 2022
March 31, 2021

Yen
470.52282.32

Diluted earnings
per share
Yen
470.52282.32(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2022
June 30, 2021

Million yen
198,100
156,137

Total equity
Million yen
82,01072,294Equityattributable toowners of parent
Million yen
78,30770,725

Ratio of equity
attributable toowners of parent tototal assets

%
39.5
45.3

2. Dividends
Annual dividends per share
1st
2nd
3rd
Fiscal yearquarter-end
quarter-end
quarter-end
end
Yen
Yen
Yen
Yen
Fiscal year ended June 30, 2021
75.00
Fiscal year ending June 30, 2022
Fiscal year ending June 30, 2022 (Forecast)
100.00(Note) Revision to the forecast for dividends announced most recently: None

1

Total
Yen
75.00
100.003. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2022 (July 1, 2021 to June 30, 2022)(% indicates changes from the previous corresponding period.)
Revenue

Profit attributable toowners of parent

Operating profit

Million yen% Million yen%
Million yen%
Full year
131,000 11.1
9,000 26.3
6,600
45.6
(Note) Revision to the financial results forecast announced most recently: Yes

Basic earnings
per shareYen
438.39* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of 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 March 31, 2022:
15,060,314 shares
As of June 30, 2021:
15,048,568 shares2) Total number of treasury shares at the end of the period
As of March 31, 2022:
1,721 shares
As of June 30, 2021:
60 shares
3) Average number of shares during the period
Nine months ended March 31, 2022:
15,055,238 shares
Nine months ended March 31, 2021:
15,125,221 shares* These consolidated financial results are not subject to quarterly audit procedures by certified public accountants or
audit firms.
* 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 date of publication of this document and are not intended as a promise by the Company thatthey will be achieved. Actual results, etc. may differ significantly 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 ....................... 3
2. Condensed Quarterly Consolidated Financial Statements and Primary Notes ............................................................ 4(1) Condensed Quarterly Consolidated Statement of Financial Position .................................................................... 4(2) Condensed Quarterly Consolidated Statements of Profit or Loss and Comprehensive Income ............................ 6(3) Condensed Quarterly Consolidated Statement of Changes in Equity.................................................................... 8(4) Condensed Quarterly Consolidated Statement of Cash Flows ............................................................................ 10(5) Primary Notes to Condensed Quarterly Consolidated Financial Statements ....................................................... 11(Notes on Going Concern Assumption) .............................................................................................................. 11(Notes on Significant Changes in Shareholders’ Equity) .................................................................................... 11(Segment Information, etc.)................................................................................................................................. 11(Significant Subsequent Events).......................................................................................................................... 15
3. Other Information ...................................................................................................................................................... 16(1) Status of Orders and Revenue.............................................................................................................................. 16

1

1. Qualitative Information on Quarterly Financial Results
The Group has been disclosing consolidated financial statements in accordance with International Financial
Reporting Standards (IFRS) since the end of the previous fiscal year, and the financial figures for the nine months
ended March 31, 2021 are also reclassified to IFRS for comparison and analysis.

(1) Explanation of Operating Results
During the nine months ended March 31, 2022 (July 1, 2021 to March 31, 2022), Japan's economy is expected torecover amid the normalization of economic and social activities along with all possible infection control measures,and resulting from the effects of various policies and economic improvements overseas. However, amid theuncertainty caused by the situation in Ukraine and other factors, we still need to pay close attention to downside
risks arising from rising raw material prices, fluctuations in financial and capital markets, and supply restrictions.
We also need to be cautious about the impact of COVID-19.
With regard to the business environment surrounding Nippon Koei Co., Ltd. (the “Company”) and its subsidiaries(together, the “Group”), in the Consulting Business, the Japanese government is expected to maintain a high levelof budget mainly for national resilience (building a national land, region, and economic society that can minimize
damage and quickly recover in the event of a disaster). We expect to see acceleration of digital reform and growing
needs from management business. In international markets, there are risks related to impact on the progress of thebusiness as well as travel restrictions due to the spread of COVID-19. But strong demand is expected to continue
as high targets for orders received are set in the Japanese government's “Infrastructure System Overseas Promotion
Strategy 2025.” In the Urban & Spatial Development Business, there are strong needs for urban development
projects including reconstruction of the urban structure in Japan, Europe, and the United States, etc. and urban
infrastructure projects in developing countries. In the Energy Business, new opportunities have been created leading
to competition toward the realization of carbon neutrality in 2050 in Japan and there are growing needs forrenewable energy development and better efficiency of energy use worldwide.
The Group is taking steps to prevent COVID-19 with an active defense system to protect the lives and health of
employees and their families and to minimize the impact on customers. Our internal policy is to promote teleworkand other work style reforms, developing relevant infrastructure and various rules, and achieving a work-lifebalance and improving productivity.
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” (management that values employees, organizations, and society) as abasis for that.
As a result, the Group ended the nine months of the current fiscal year with revenue having increased 10.6% year
on year to ¥95,682 million, due to the better progress of projects compared to the same period last year when theimpact of COVID-19 was still ongoing, although orders received decreased 2.9% year on year to ¥80,215 million.
Operating profit increased 39.0% year on year to ¥9,509 million and profit attributable to owners of parent increased
65.9% year on year to ¥7,083 million.
Business results for each segment are as follows: Due to the changes made to the reporting segment classification
effective from the first quarter of the fiscal year ending June 30, 2022, comparisons with the first nine 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 and2Primary Notes (5) Primary Notes to Condensed Quarterly Consolidated Financial Statements (Segment Information,etc.) 2. Changes in reportable segments".
[Consulting]In the Consulting Business, we improved the productivity through DX promotion and thoroughly carried out
revenue management, quality control, risk management and safety management. We also advanced and globally
deployed disaster prevention and mitigation technologies, expanded the transportation-related business, promoted
services contributing to decarbonization and deployed the management area on a full-scale basis.
As a result, orders received decreased 2.0% year on year to ¥58,410 million, while revenue increased 9.2% year
on year to ¥64,307 million and operating profit increased 43.8% year on year to ¥7,818 million due to steady projectprogress.
[Urban & Spatial Development]
In the Urban & Spatial Development Business, we promoted urban development and Smart City business,
responded to changes in the UK market and expanded our business in the Canadian market while making efforts to
expand our business in the Asian market through Group-wide collaboration.
As a result, orders received increased 15.2% year on year to ¥12,986 million, revenue increased 14.8% year on
year to ¥16,905 million and operating profit increased 2.3% year on year to ¥1,616 million.
[Energy]In the Energy Business, we strengthened the production framework of electric power equipment, which is our
main force, developed new products, and formulated new projects in the power generation business such as
renewable energy. We formulated infrastructures for the battery storage business mainly in Europe as well as theaggregation business (a business that provides energy services through electricity market transactions, etc. byaggregating distributed energy sources) in Japan in the energy management business.
As a result, revenue increased 13.6% year on year to ¥13,906 million while orders received decreased 25.1% year
on year to ¥8,751 million and operating profit increased 103.4% year on year to ¥1,642 million compared with thesame period last year, when there was a provision for loss on construction contracts , etc.
(2) Explanation of Financial Position
Total assets at the end of the first nine months of the fiscal year, amounted to ¥198,100 million, an increase of¥41,962 million from the end of the previous fiscal year. This was mainly due to a ¥11,303 million increase in tradeand other receivables and a ¥16,707 million increase in contract assets.
Total liabilities were ¥116,089 million, an increase of ¥32,246 million from the end of the previous fiscal year.
This was mainly due to a ¥31,270 million increase in borrowings.
Total equity was ¥82,010 million, an increase of ¥9,716 million from the end of the previous fiscal year. This was
mainly due to a ¥5,955 million increase in retained earnings.
As a result, ratio of equity attributable to owners of parent to total assets decreased 5.8 percentage points from theend of the previous fiscal year to 39.5%.

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements
The consolidated financial results forecast for the fiscal year ending June 30, 2022 announced on August 13, 2021
has been revised.

3

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

4

As of June 30, 2021

As of March 31, 2022

17,83821,18924,3271,315
3,900
68,57022,34232,492
41,034
1,850
8,516
106,237

40,832
9,229
9,182
6,502
4,094
2,077
4,391
7,434
2,437
1,384
87,566
156,137

37,233
9,534
10,095
6,831
8,468
2,355
4,397
8,980
2,518
1,447
91,863
198,100

(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

5

As of June 30, 2021

As of March 31, 2022

8,320
2,678
9,076
10,645
3,005
2,228
818
12,11548,88940,966
2,767
11,991
10,191
2,766
2,571
1,217
9,177
81,65018,712
6,699
648
3,861
375
4,533
122
34,953
83,843

17,337
6,968
601
3,847
688
4,594
401
34,439116,089

7,480
6,428
(0)
2,820
53,99670,725
1,569
72,294
156,137

7,501
6,454
(5)
4,404
59,95278,307
3,703
82,010
198,100

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

For the nine months
ended March 31, 2021
(From July 1, 2020 toMarch 31, 2021)
86,537(57,782)
28,755(19,827)(Millions of yen)
For the nine months
ended March 31, 2022
(From July 1, 2021 toMarch 31, 2022)
95,682(64,425)
31,257(21,709)

(65)

183

701
(2,723)
6,839
378
(419)
6,798
(2,638)
4,159

488
(709)
9,509
1,212
(348)
10,373(3,265)
7,108

Profit attributable to
Owners of parent
Non-controlling interests
Profit

4,270
(110)
4,159

7,083
24
7,108

Earnings per share
Basic earnings per share
Diluted earnings per share

282.32282.32470.52470.52

Revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Share of profit (loss) of investments accounted
for using equity method
Other income
Other expenses
Operating profit
Finance income
Finance costs
Profit before tax
Income tax expense
Profit6

(Condensed Quarterly Consolidated Statement of Comprehensive Income)

ProfitOther comprehensive income
Items that will not be reclassified to profit or loss
Equity financial assets measured at fair value through othercomprehensive income
Share of other comprehensive income of investments
accounted for using equity method
Total of items that will not be reclassified to profit or loss

For the nine months
ended March 31, 2021
(From July 1, 2020 toMarch 31, 2021)
4,159(Millions of yen)
For the nine months
ended March 31, 2022
(From July 1, 2021 toMarch 31, 2022)
7,108

315

278

6

0

321

278

4
2,271

4
1,335

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

37

41

2,312
2,634
6,794

1,380
1,659
8,768

Comprehensive income attributable to
Owners of parent
Non-controlling interests
Comprehensive income

6,887
(92)
6,794

8,670
98
8,768

7

(3) Condensed Quarterly Consolidated Statements of Changes in Equity
For the Nine months Ended March 31, 2021 (From July 1, 2020 to March 31, 2021)(Millions of yen)
Equity attributable to owners of parent
Other components of equity

Share capital

Balance as of July 1, 2020

Capital surplus

Treasury shares

Exchangedifferences on
Cash flow hedges
translation offoreign operations

Equity financial
assets measured
at fair value
through othercomprehensive
income

7,458

6,498

(2,415)

(432)

(36)

Profit

-

-

-

-

-

-

Other comprehensive income

-

-

-

2,293

4

314

Total comprehensive income

471

-

-

-

2,293

4

314

Issuance of new shares

21

21

-

-

-

-

Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

(429)

-

-

-

Disposal of treasury shares

-

(21)

312

-

-

-

Cancellation of treasury shares

-

-

-

-

-

-

Dividends

-

-

-

-

-

-

Purchase and disposal of non-controlling interests

-

(0)

-

(0)

-

-

Transfer to retained earnings
Total transactions with owners
Balance as of March 31, 2021

-

-

-

-

-

21

0

(116)

(0)

-

-

7,480

6,498

(2,532)

1,860

(31)

786

Equity attributable to owners of parent
Other components of equity
Remeasurementsof defined benefit
plans
Balance as of July 1, 2020

Retained earnings

Total

-

Non-controllinginterests

Total

1

52,67564,219

1,502

Total

65,721

Profit

-

-

4,270

4,270

(110)

4,159

Other comprehensive income

3

2,617

-

2,617

17

2,634

3

2,617

4,270

6,887

(92)

6,794

-

-

-

43

-

43

Total comprehensive income
Issuance of new shares
Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

-

(429)

-

(429)

Disposal of treasury shares

-

-

-

291

-

291

Cancellation of treasury shares

-

-

-

-

-

-

Dividends--(1,138)(1,138)(47)(1,186)

Purchase and disposal of non-controlling interests

-

(0)

-

(0)

128

128

Transfer to retained earnings

(3)

(3)

3

-

-

-

Total transactions with owners
Balance as of March 31, 2021

(3)

(3)

(1,134)(1,232)80(1,152)-

2,615

55,811

69,873

1,489

71,3638

For the Nine months Ended March 31, 2022 (From July 1, 2021 to March 31, 2022)(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

Exchangedifferences on
Cash flow hedges
translation offoreign operations

Equity financial
assets measured
at fair value
through othercomprehensive
income

7,480

6,428

(0)

1,982

(30)

Profit

-

-

-

-

-

-

Other comprehensive income

-

-

-

1,303

4

278

-

-

-

1,303

4

278

Issuance of new shares

21

21

-

-

-

-

Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

(5)

-

-

-

Disposal of treasury shares

-

-

-

-

-

-

Cancellation of treasury shares

-

-

-

-

-

-

Dividends

-

-

-

-

-

-

Purchase and disposal of non-controlling interests

-

5

-

(1)

-

-

Total comprehensive income

Transfer to retained earnings
Total transactions with owners
Balance as of March 31, 2022

867

-

-

-

-

-

21

26

(5)

(1)

-

-

7,501

6,454

(5)

3,284

(25)

1,145

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

-

-

7,083

7,083

24

7,108

Other comprehensive income

0

1,586

-

1,586

73

1,659

0

1,586

7,083

8,670

98

8,768

Issuance of new shares

-

-

-

42

-

42

Change in scope of consolidation

-

-

-

-

-

-

Purchase of treasury shares

-

-

-

(5)

-

(5)

Disposal of treasury shares

-

-

-

-

-

-

Cancellation of treasury shares

-

-

-

-

-

-

Dividends--(1,128)(1,128)(15)(1,143)

Total comprehensive income

Purchase and disposal of non-controlling interests

-

(1)

-

3

2,051

2,055

Transfer to retained earnings

(0)

(0)

0

-

-

-

Total transactions with owners
Balance as of March 31, 2022

(0)

(1)

(1,128)(1,087)

2,035

948

-

4,404

59,95278,307

3,703

82,0109

(4) Condensed Quarterly Consolidated Statement of Cash Flows
For the nine months
ended March 31, 2021
(From July 1, 2020 toMarch 31, 2021)
Cash flows from operating activities
Profit before tax
Depreciation and amortization
Impairment losses
Loss (gain) on financial assets measured at fair value throughprofit or loss
Interest and dividend income
Interest expenses
Share of loss (profit) of investments accounted for using
equity method
Loss (gain) on derivatives
Decrease (increase) in trade and other receivables
Decrease (increase) in contract assets
Decrease (increase) in advance payments to suppliers
Decrease (increase) in insurance claims receivable
Decrease (increase) in long-term accounts receivable-other
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 bonus payable
Increase (decrease) in provisions
Other
Sub total
Dividends received
Interest received
Insurance claims received
Interest 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
Purchase of intangible assets
Purchase of other financial assets
Proceeds from sale and redemption of other financial assets
Payments for acquisition of subsidiaries
Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Capital contribution from non-controlling interests
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

10(Millions of yen)
For the nine months
ended March 31, 2022
(From July 1, 2021 toMarch 31, 2022)

6,798
3,389
1,847

10,373
3,678
-

(142)

(9)

(229)
323

(375)
348

65

(183)

(191)
(10,211)(13,477)
6
(88)
3,691
(154)
485
(184)
(479)
844
487
(569)
(7,787)
82
157
(319)
(2,035)(9,901)(489)(10,546)(16,563)(2,433)
(770)
(211)
2,769
(767)
(3,423)(264)(1,960)
1,098
678
(474)
(19,526)
115
257
2
(311)
(3,074)(22,536)(20)
180(1,204)
(576)
(1)
1
14
(1,607)(518)
245(1,248)
(272)
(564)
98
(258)
(10)
(2,530)222,000(213,000)
15,000(4,266)(2,070)(1,144)(117)
16,401
4,892
15,472
722
21,087

207,500(172,034)
1,719(6,590)(2,257)2,087(1,146)(39)
29,237
4,170
17,838332
22,342

(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)(Issuance of restricted stock compensation)
In accordance with the resolution of the Extraordinary Board of Directors Meeting held on September 29, 2021,
we issued new shares as restricted stock compensation for Directors on October 28, 2021. As a result, share capitaland capital surplus increased by ¥21 million, respectively, during the nine months ended March 31, 2022.
Subsequently, share capital and capital surplus at the end of the first nine months of the fiscal year were ¥7,501
million and ¥6,454 million, respectively.

(Segment Information, etc.)
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
From the first quarter of the fiscal year ending June 30, 2022, the Company has integrated the "Domestic
Consulting" and "International Consulting" segments into the "Consulting" segment, and the "PowerEngineering" and "Energy" segments into the "Energy" segment to strengthen the business axis, which is thefirst resilience policy in the medium-term management plan "Building Resilience 2024." In addition, "RealEstate Leasing" is included in "Others" as it is no longer a business segment. As a result of these changes, theprevious six segments of "Domestic Consulting," "International Consulting," "Power Engineering," "Urban &Spatial Development," "Energy," and "Real Estate Leasing" have been reclassified into three segments of"Consulting," "Urban & Spatial Development," and "Energy". Also, PT. CIKAENGAN TIRTA ENERGI, aconsolidated subsidiary of the Company, has been reclassified from the “Energy” segment to the “Consulting”

11

segment since the first quarter of the fiscal year ending June 30, 2022 as a result of reviewing the groupmanagement framework.
Please note that segment information for the third 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 nine months ended March 31, 2021 (from July 1, 2020 to March 31, 2021)(Millions of yen)
Reportable Segments
Urban & Spatial

Consulting

EnergyDevelopment

Total

Revenue
Revenue from external customers

58,90014,723

12,24685,870Intersegment revenue and transfers

255

0

252

509

Total

59,156

14,724

12,49986,380

Segment profit (loss)

5,437

1,580

807

7,825

Finance income
Finance costs
Profit (loss) before tax
Others(Note 1)

Adjustments(Note 2)

Total

Consolidated

Revenue
Revenue from external customers

666

86,537-86,537

Intersegment revenue and transfers

592

1,102

(1,102)

-

Total

1,259

87,639(1,102)86,537

Segment profit (loss)

(976)

6,848

(9)

6,839

Finance income

378

Finance costs(419)

Profit (loss) before tax
6,798
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 nine months ended March 31, 2022 (from July 1, 2021 to March 31, 2022)(Millions of yen)
Reportable Segments
Urban & Spatial

Consulting

EnergyDevelopment

Total

Revenue
Revenue from external customers

64,307

16,905

13,906

95,119Intersegment revenue and transfers

276

30

228

534

Total

64,583

16,936

14,134

95,654

Segment profit (loss)

7,818

1,616

1,642

11,077

Finance income
Finance costs
Profit (loss) before tax
Others(Note 1)

Adjustments(Note 2)

Total

Consolidated

Revenue
Revenue from external customers

563

95,682-

95,682

Intersegment revenue and transfers

509

1,044

(1,044)

-

Total

1,072

96,727(1,044)

95,682

Segment profit (loss)(1,553)

9,524

(14)

9,509

Finance income

1,212

Finance costs(348)

Profit (loss) before tax
10,373
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)
There is no relevant information.

15

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, 2021
AmountComposition(M illions of yen)(%)

59,61972.1

58,41072.8

97,76973.3

Urban & Spatial Development

11,272

13.6

12,98616.2

21,457

16.1

Energy11,690

14.2

8,751

10.9

13,991

10.5

Others

65

0.1

67

0.1

86

0.1

Total

82,648100.0

80,215100.0

133,304

100.0

Consulting

62,71972.5

68,15071.2

85,236

72.3

Urban & Spatial Development

13,303

15.4

16,087

16.8

18,20915.5

Energy

9,847

11.4

10,881

11.4

13,548

11.5

Others

666

0.7

563

0.6

865

0.7

Total

86,537100.0

95,682100.0

117,859

100.0

Consulting

58,90068.064,30767.2

80,09868.0

Urban & Spatial Development

14,72317.0

16,905

17.7

20,274

17.2

Energy12,24614.2

13,906

14.5

16,621

14.1

Others

666

0.8

563

0.6

865

0.7

Total

86,537100.0

95,682100.0

117,859

100.0

Category/Segment

Foreign exchange andother adjustments

For the nine months ended
M arch 31, 2022
AmountComposition(M illions of yen)(%)

Consulting

By period_

Outstanding Orders

For the nine months ended
M arch 31, 2021
AmountComposition(M illions of yen)(%)

Consulting

For the nine months ended
M arch 31, 2021
AmountComposition(M illions of yen)(%)

For the nine months ended
M arch 31, 2022
AmountComposition(M illions of yen)(%)

For the fiscal year ended
June 30, 2021
AmountComposition(M illions of yen)
(%)

945

927

931

2,304

970

2,800

Energy

(0)

4

(0)

Others

-

-

-

Total

3,249

1,903

3,731

Urban & Spatial Development

Consulting

122,56774.7

129,41975.4

138,18675.0

Urban & Spatial Development

17,293

10.5

20,93812.2

23,068

12.5

Energy24,275

14.8

21,21812.4

22,994

12.5

Others

7

0.0

-

0

0.0

Total

164,145100.0

171,576

184,250

100.0

100.0

Notes: 1. The above amounts are exclusive of consumption tax and other taxes.
2. The above amounts are for external customers, and do not include inter-segment transactions or transfers.
3. Revenue 1 is by segment which received orders. Revenue 2 is by segment which provided services.
4. Foreign exchange and other adjustments include those related to exchange differences and outstanding order revisions.
5. As disclosed in "2. Condensed Quarterly Consolidated Financial Statements and Primary Notes (5) Primary Notes toCondensed Quarterly Consolidated Financial Statements (Segment information, etc.)," the Group has changed its reportablesegments since the first quarter of the fiscal year ending June 30, 2022. The figures for the nine months ended March 31,
2021 and for the fiscal year ended June 30, 2021 have been provided based on the new reporting segments.

16