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 Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
February 9, 2023
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:

February 10, 2023

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 nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(1) Consolidated operating results (cumulative)
Net sales
Nine months ended December 31, 2022
Nine months ended December 31, 2021

Millions of yen
73,061
67,946Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
7.5
3,382
8.6
3,448
9.5
2,316 (15.3)(4.7)
3,114 (39.4)
3,148 (39.8)
2,736 (22.2)

Earnings per share

Diluted earnings per share

Yen
53.87
63.31

Nine months ended December 31, 2022
Nine months ended December 31, 2021

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

Net assets

Millions of yen
130,454
116,423

Equity ratio

Millions of yen
58,23757,532

%
44.6
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
19.00

Yen––

Yen
21.00

Yen
38.00

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
Full year
107,000
14.9
6,000(2.7)
6,000(2.8)
4,150 (14.3)
96.52

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4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 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:

NoNo

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 December 31, 2022

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

44,607,457 sharesNumber of treasury shares at the end of the period
As of December 31, 2022

1,598,691 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)
Nine months ended December 31, 2022

43,002,810 shares Nine months ended December 31, 2021

243,220,817 shares

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

As of December 31, 2022

AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed

22,011

20,04732,351

41,590

457

190

2,534
19,884

7,092
20,265Merchandise and finished goods
Raw materials and supplies

25452

24
525

Other
Allowance for doubtful accounts

2,804
(86)

4,471
(87)

Total current assets

80,435

94,119Buildings and structures
Machinery, vehicles, tools, furniture and fixtures

14,661
3,345

14,7943,442

Land
Leased assets

19,091
103

19,21599

Construction in progress
Accumulated depreciation

55(9,985)355(10,419)

Total property, plant and equipment

27,272

27,487

Intangible assets
Investments and other assets

390

353

Investment securities
Retirement benefit asset

5,298
244

5,461
246

Deferred tax assets
Other

1,844
987

1,865
970

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)

(48)

Total investments and other assets

8,326

8,494

Total non-current assets
Total assets

335,988

36,335

116,423

130,454

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

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

6,758

11,977

3,635

11,273

Short-term borrowings
Income taxes payable

25,4001,072

28,600169

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

4,780
441

4,425
458

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

070

2367

Other

2,988

2,273

Total current liabilities

45,14859,269Long-term borrowings
Deferred tax liabilities for land revaluation

5,000
221

4,300
221

Retirement benefit liability
Asset retirement obligations

4,864
353

4,928
370

Provision for share-based compensation
Other

49
3,252

73
3,053

Total non-current liabilities

13,743

12,94858,891

72,217

Shareholders' equity
Share capital

6,808

6,808

Capital surplus
Retained earnings

7,244
49,124

7,244
49,704

Treasury shares

(897)

(886)

62,27962,8701,224(5,882)

1,334(5,882)

(90)

(86)

(4,747)(4,633)

Non-current liabilities

Total liabilities
Net assetsTotal 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

58,237

116,423

130,454

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

Nine months ended

December 31, 2021

December 31, 2022

Net salesNet sales of completed construction contracts

60,32065,351

Net sales in real estate business and other

7,625

7,710

Total net sales

67,94673,061

Cost of sales of completed construction contracts
Cost of sales in real estate business and other53,566
5,216

58,037
5,163

Total cost of sales

58,782

63,200Gross profit
Gross profit on completed construction contracts

6,754

7,314

Gross profit on real estate business and other

2,408

2,547

Total gross profit

9,163

9,861

Selling, general and administrative expenses

6,049

6,479

Operating profit

3,114

3,382Non-operating income
Interest income

00

Dividend income
Other

105
3810039

Total non-operating income

145

140

100

63

1010

Cost of sales

Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Other
Total extraordinary income

111

74

3,148

3,448

886––

5886

52130

111
–

Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Other1–

Total extraordinary losses

53111

Profit before income taxes

3,981

3,341Income taxes - current

1,265

1,107

Income taxes - deferred(19)(82)

Total income taxes

1,245

1,025

Profit

2,736

2,316

0–

2,736

2,316

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

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

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

2,736

2,316

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax(105)
211094Total other comprehensive income

(83)

113

2,653

2,430

2,653

2,430

0–

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

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