Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 5, 2022
Company name:YAHAGI CONSTRUCTION CO., LTD.
Stock exchange listing: Tokyo, Nagoya
Stock code:
Representative:

1870
URL https://www.yahagi.co.jp/President and Director
Mitsuhiro Takayanagi

Contact:
keiri@yahagi.co.jp
Scheduled date to file Quarterly Securities Report:

August 8, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–Yes

Holding of quarterly financial results meeting:No(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)

Three months ended June 30, 2022
Three months ended June 30, 2021

Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
18,195 (22.7)
644 (23.2)
680 (22.9)
497 (20.2)
23,5252.1
840 (58.6)
881 (57.9)
623 (57.1)
Earnings per share

Diluted earnings per share

Yen
11.58
14.37

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022

Net assets

Millions of yen
109,231
116,423Equity ratio

Millions of yen
57,14757,532

%
52.3
49.4

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
17.00

Yen–

Yen
21.00

Yen
38.00

19.00

–

19.00

38.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
41,500 (11.4)
1,800 (17.6)
1,800 (18.6)
1,200 (23.9)
27.91
September 30, 2022
Full year
107,000
14.9
6,000(2.7)
6,000(2.8)
4,150 (14.3)
96.52

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):

No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

No
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

44,607,457 shares As of March 31, 2022

44,607,457 shares

Number of treasury shares at the end of the period
As of June 30, 2022

1,612,091 shares As of March 31, 2022

1,612,091 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

42,995,366 shares Three months ended June 30, 2021

243,402,593 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and depositsNotes receivable, accounts receivable from completed

22,011

23,41132,351

21,081

457

413

2,534
19,884

5,101
20,100

Merchandise and finished goods
Raw materials and supplies

25
452

23494

Other
Allowance for doubtful accounts

2,804
(86)

2,771
(83)

Total current assets

80,43573,313

Buildings and structures
Machinery, vehicles, tools, furniture and fixtures

14,661
3,345

14,765
3,344

Land
Leased assets

19,091
103

19,091
109

Construction in progress
Accumulated depreciation

55(9,985)

49(10,136)

Total property, plant and equipment

27,272

27,224

Intangible assets
Investments and other assets

390

393

Investment securities
Retirement benefit asset

5,298
244

5,342
245

Deferred tax assets
Other

1,844
987

1,779
982

construction contracts and other
Electronically recorded monetary claims - operating
Costs on construction contracts in progress
Real estate for saleNon-current assets
Property, plant and equipment

Allowance for doubtful accounts

(49)

(49)

Total investments and other assets

8,326

8,300

Total non-current assets
Total assets

335,988

35,918116,423

109,231(Millions of yen)As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
and other
Electronically recorded obligations - operating

6,758

6,770

3,635

3,736

Short-term borrowings
Income taxes payable

25,400
1,072

18,100117

Advances received on construction contracts in progress
Provision for warranties for completed construction

4,780
441

4,850
445

Provision for loss on construction contracts
Provision for bonuses for directors (and other officers)

070

022

Other

2,988

4,149

Total current liabilities

45,14838,193Long-term borrowings
Deferred tax liabilities for land revaluation

5,000
221

5,300
221

Retirement benefit liability
Asset retirement obligations

4,864
353

4,865
354

Provision for share-based compensation
Other49
3,252

61
3,086

Total non-current liabilities

13,743

13,89058,891

52,083

Shareholders' equity
Share capital

6,808

6,808

Capital surplus
Retained earnings

7,244
49,124

7,244
48,710Treasury shares

(897)

(897)

62,27961,866

1,224(5,882)

1,252(5,882)

(90)

(88)

(4,747)(4,718)Non-current liabilitiesTotal liabilities
Net assets

Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

457,532

57,147

116,423

109,231

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2021

June 30, 2022

Net sales
Net sales of completed construction contracts

21,566

14,375Net sales in real estate business and other

1,959

3,819

Total net sales

23,52518,195

Cost of sales of completed construction contracts
Cost of sales in real estate business and other

19,493
1,310

12,8292,540

Total cost of sales

20,803

15,370

2,072

1,546

Cost of sales

Gross profit
Gross profit on completed construction contracts
Gross profit on real estate business and other

648

1,278

2,721

2,824

1,881

2,180

840

644

Non-operating income
Interest income

20

Dividend income
Other

71
1256
9Total non-operating income

8766

38

2169

Total gross profit
Selling, general and administrative expenses
Operating profit

Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets

4530

881

680

–

16

Loss on valuation of investment securities

30–

Total extraordinary losses

30

16

Profit before income taxes

851

664

Income taxes - current

174

124

Income taxes - deferred

53

41

Total income taxes

227

166

Profit

623

497

0–623

497Profit attributable to non-controlling interests
Profit attributable to owners of parent

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2021

June 30, 2022
623

497

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax(0)7271Total other comprehensive income

629630

527

630

527

0–

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

6