Disclaimer: This document is an English translation of the original document in Japanese and has been
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Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
August 10, 2022
Company name: Tobishima Corporation
Stock exchange listing: Tokyo Stock Exchange
Code number: 1805
URL: https://www.tobishima.co.jp/
Representative: Masahiro Norikyo, President and Representative Director
Contact: Yoichi Shimada, Manager, Public Relations Office
Phone: +81-3-6455-8312
Scheduled date of filing quarterly securities report: August 10, 2022
Scheduled date of commencing dividend payments: —Availability of supplementary explanatory materials on quarterly financial results: Available
Schedule of quarterly financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Three months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen%
June 30, 2022
29,635 5.7
1,250 33.9
1,316 49.8
873 27.3
June 30, 2021
28,024 0.5
933 12.3879
7.6
686 20.1(Note) Comprehensive income: Three months ended June 30, 2022: ¥859 million [24.2%]
Three months ended June 30, 2021: ¥692 million [27.7%]
Basic earnings
Diluted earnings
per shareper share
Three months endedYenYen
45.68−
June 30, 2022
June 30, 2021
35.89−(2) Consolidated Financial Position
Total assets
Millions of yen

Net assets

Equity ratio

Millions of yen%

112,299
As of June 30, 2022
43,770114,632
As of March 31, 2022
43,872(Reference) Equity: As of June 30, 2022: ¥43,761 million
As of March 31, 2022: ¥43,864 million

39.0
38.3

2. Dividends
Annual dividends
1st quarter-end

2nd quarter-end

3rd quarter-end

Yen

Yen

Yen

Year-end

Fiscal year ended–––March 31, 2022
Fiscal year ending–
March 31, 2023Fiscal year ending
March 31, 2023––(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

TotalYen

Yen

50.00

50.00

50.00

50.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings
Net sales
Operating profit
Ordinary profit
to owners of parent
per share
Millions of yen%

Millions of yen% Millions of yen%

Millions of yen

Full year
131,000 11.3
4,800
4.9
4,100 (2.7)(Note) Revision to the financial results forecast announced most recently: None%

Yen

2,400 (25.5)

125.44

* Notes:(1) Changes in significant subsidiaries during the period under review: None
(Changes in specified subsidiaries resulting in changes in scope of consolidation)
Newly included: – (), Excluded: – ()(2) Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: None
4) Retrospective restatement: None
(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, 2022:
19,310,436 shares
March 31, 2022:
19,310,436 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
182,210 shares
March 31, 2022:
181,826 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
19,128,399 shares
Three months ended June 30, 2021:
19,131,568 shares
Note: The number of treasury shares at the end of the period and the number of treasury shares deducted in thecalculation of the average number of shares during the three months ended June 30, 2022 include theCompany’s shares held by the Board Benefit Trust (BBT).
* These quarterly consolidated financial results are outside the scope of quarterly review by certified public
accountants or an audit firm.
* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently available
to the Company as of the date of publication of this document. Actual results may differ from these forecasts due
to a wide range of factors. For assumptions underlying the financial results forecast and precautions regarding
their use, please refer to “(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking
Information” in “1. Qualitative Information on Quarterly Financial Results” on page 2 of the Attachment.

Reference: Summary of Non-consolidated Financial Results(Amounts of less than one million yen are rounded down.)
1. Non-consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30,2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Operating profit
Ordinary profit
ProfitThree months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen%
June 30, 2022
26,3197.2
970 58.7
1,071 88.4
712 95.9
June 30, 2021
24,552 (7.1)
611 (25.8)
568 (28.5)
363 (36.6)

Three months ended
June 30, 2022
June 30, 2021

Basic earnings
per share

Diluted earnings
per share

YenYen

37.27
19.02

(2) Non-consolidated Financial Position
Total assets
Millions of yen−−Net assets

Equity ratio

Millions of yen%

102,247
As of June 30, 2022
41,388103,399
As of March 31, 2022
41,641(Reference) Equity: As of June 30, 2022: ¥41,388 million
As of March 31, 2022: ¥41,641 million

40.5
40.3

2. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 March 31, 2023)(% indicates changes from the previous corresponding period.)
Basic earnings
Net sales
Operating profit
Ordinary profit
Profitper share
Millions of yen% Millions of yen% Millions of yen% Millions of yen

Full year
118,000
11.6
4,100 7.2
3,700 4.3
(Note) Revision to the financial results forecast announced most recently: None%Yen

2,300 (15.6)

120.21

Table of Contents―Attachments
1. Qualitative Information on Quarterly Financial Results ....................................................................... 2(1) Explanation of Operating Results ..................................................................................................... 2(2) Explanation of Financial Position ..................................................................................................... 2(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information ... 22. Quarterly Consolidated Financial Statements and Principal Notes ....................................................... 3(1) Quarterly Consolidated Balance Sheets ............................................................................................ 3(2) Quarterly Consolidated Statements of Income and Comprehensive Income .................................... 5(3) Notes to Quarterly Consolidated Financial Statements ..................................................................... 7(Notes on going concern assumption) .......................................................................................... 7(Notes in case of significant changes in shareholders’ equity) ..................................................... 73. Supplementary Information ................................................................................................................... 8(1) Non-consolidated Orders Received ................................................................................................... 8(2) Non-consolidated Orders Forecast .................................................................................................... 81

1. Qualitative Information on Quarterly Financial Results(1) Explanation of Operating Results
During the three months ended June 30, 2022, the Japanese economy remained in a state of uncertainty due tothe situation in Ukraine and the soaring prices of resources as a result of the historic depreciation of the yen,although there were signs of movement toward normalization of socioeconomic activities amid the prolonged
impact of the spread of COVID-19. The domestic construction market also continued to face difficult
conditions due to the impact on prices of materials and equipment.
Under these circumstances, for the three months ended June 30, 2022, net sales were ¥29.6 billion (up 5.7%
year on year), operating profit was ¥1.2 billion (up 33.9% year on year), ordinary profit was ¥1.3 billion (up49.8% year on year), and profit attributable to owners of parent was ¥0.8 billion (up 27.3% year on year).
The Group’s net sales tend to be concentrated in the second half of the fiscal year, especially in the fourth
quarter, and thus there are seasonal fluctuations in its business performance.
(2) Explanation of Financial Position
As for the financial position as of June 30, 2022, assets decreased by ¥2.3 billion from the end of the previous
fiscal year, mainly due to an increase in cash and deposits and decreases in notes receivable, accounts
receivable from completed construction contracts and other as well as other under current assets. Liabilities
decreased by ¥2.2 billion, mainly due to a decrease in long-term borrowings, and net assets decreased by ¥0.1billion, mainly due to the posting of profit attributable to owners of parent and the payment of cash dividends
for the fiscal year ended March 31, 2022. Accordingly, total assets amounted to ¥112.2 billion.
Equity ratio was 39.0%, up 0.7 percentage points from the end of the previous fiscal year.
(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information
There is no change to the full-year financial results forecasts for the fiscal year ending March 31, 2023 as theCompany believes that they are within the range of the forecasts announced on May 13, 2022.
If the need for revision arises in the future, we will disclose it in a timely and appropriate manner.

22. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Real estate for sale
Costs on construction contracts in progress
Costs on development business and other inprogress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

As of June 30, 2022

12,96815,99957,01553,7896142,178

426
2,034

6,706

5,823

7,276
(6)
86,754

5,909(1)
83,982

19,013996

18,887
951

8,069
(201)
7,867
27,878
114,632

8,679
(201)
8,477
28,317112,299

(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Short-term borrowings
Advances received on construction contracts inprogress
Deposits received
Provision for warranties for completed construction
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for share awards for directors (and otherofficers)
Provision for retirement benefits for directors (andother officers)
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-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interestsTotal net assets
Total liabilities and net assets

4

As of June 30, 2022

26,17425,747

3,157

2,842

5,426

6,052

19,076
416
166
2,393
56,811

18,705
410
160
1,794
55,713

13,037

11,757

47

42

33

4

43
786
13,94870,75945966
12,81568,5285,519
6,237
31,621(580)
42,797

5,519
6,237
31,533(581)
42,709

630
7
428
1,066
8
43,872
114,632

629
12
409
1,052
8
43,770112,299

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Three Months Ended June 30(Millions of yen)
For the three months
ended June 30, 2021
Net sales
Net sales of completed construction contracts
Net sales in development business and otherTotal net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in development business and otherTotal cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit on development business and otherTotal gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Foreign exchange gains
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of shares of subsidiaries and associates
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Other
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

5

For the three months
ended June 30, 2022

25,2992,725
28,02427,326
2,309
29,63522,8432,238
25,081

24,1891,944
26,133

2,456
486
2,943
2,009
933

3,136
365
3,502
2,251
1,250

−
24
24

120
40
161

43

36

−

24

34
78
879

33
94
1,316

0
91
091

4−
0
4

3
23
0
27
943
92
164
256
686
0
686

0
−
−
0
1,321
225
221
447
873
0873

Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30(Millions of yen)
For the three months
ended June 30, 2021ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6686

For the three months
ended June 30, 2022
873

54(4)
5692

(1)
5(18)
(14)
859

691

859

00

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)Not applicable.
(Notes in case of significant changes in shareholders’ equity)
Not applicable.

73. Supplementary Information(1) Non-consolidated Orders Received(Millions of yen)
For the three months
ended June 30, 2021

Category
Domestic
public sector

Percentagechanges

Changes

4,666[29.0 %]

2,974

[16.5 %]

(1,691)(36.3) %2,968[18.5 %]

4,544

[25.3 %]

1,576

53.1 %

1[0.0 %]

517

[2.9 %]

515

―%

Total

7,635

[47.5 %]

8,035

[44.7 %]

400

5.2 %

Domestic
public sector

43[0.3 %]

206[1.2 %]

162

371.7 %

5,559

[34.5 %]

9,133

[50.7 %]

3,573

64.3 %

2,588[16.1 %]

343

[1.9 %](2,245)(86.7) %8,192[50.9 %]

9,683

[53.8 %]

1,491

18.2 %

4,710[29.3 %]

3,180

[17.7 %]

(1,529)(32.5) %8,527[53.0 %]

13,677[76.0 %]

5,149

60.4 %

Overseas2,590[16.1 %]

860

[4.8 %](1,729)(66.8) %Total

15,828[98.4 %]

17,719[98.5 %]

1,891

11.9 %

255[1.6 %]

271[1.5 %]

156.2 %

17,990 [100.0 %]

1,907

11.9 %

Domestic
Civil
privatesector
Engineering
Overseas

Domestic
Construction
Building
privatesector
Business
Construction
Overseas
TotalTotal

For the three months
ended June 30, 2022

Domestic
public sector
Domestic
private sector

Development Business, etc.
Total

16,083 [100.0 %](Note) Percentages in square brackets indicate composition ratios.

(2) Non-consolidated Orders Forecast(Millions of yen)
Category
Civil Engineering

Fiscal year ended
March 31, 2022
Full-year Results

Fiscal year ending
March 31, 2023
Full-year Forecasts

ChangesPercentagechanges

64,53770,000

5,462

8.5%

Construction
Building Construction
Business
Total

51,54151,000(541)(1.1)%

116,079

121,000

4,920

4.2%

Development Business, etc.

1,239

1,000(239)(19.4)%

Total

117,319

122,000

4,680

4.0%

[Qualitative Information on Non-consolidated Orders Received and Non-consolidated Orders Forecast]
As for the non-consolidated orders received for the three months ended June 30, 2022, the Civil Engineering Business was ¥8.0billion, up 5.2% year on year, and the Building Construction Business was ¥9.6 billion, up 18.2% year on year.
The full-year non-consolidated orders forecast remains unchanged from the beginning of the fiscal year, after carefulconsideration of the actual results for the first quarter and the future project situation.

8