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 Six Months Ended April 30, 2024
(Based on Japanese GAAP)
June 6, 2024
Company name:First Juken Co., Ltd.
Stock exchange listing: Tokyo
Stock code:
Representative:

8917
URL https://www.f-juken.co.jp/
Representative Director, President
Yuji Nakajima

Inquiries:Director,
Head of Management Department

Hidehiko Higashi

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

June 13, 2024
July 19, 2024

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

Yes
Yes

TEL

06-4868-5388(for institutional investors and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended April 30, 2024 (from November 1, 2023 to April 30, 2024)(1) Consolidated operating results (cumulative)
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%Six months ended April 30, 2024
17,110 (17.8)
903 (38.9)896 (38.2)
551 (41.1)
Six months ended April 30, 2023
20,8087.2
1,478(8.8)
1,450(8.6)
937(8.6)
Earnings per share

Diluted earnings per share

Yen
39.71
67.44

Six months ended April 30, 2024
Six months ended April 30, 2023

Yen
39.50
67.13(2) Consolidated financial position
Total assets

Net assets

Millions of yen
51,20052,674As of April 30, 2024
As of October 31, 2023

Equity ratio

Millions of yen
39,36039,037

%
74.3
71.7

2. Cash dividends
Annual dividends per share

Year ended October 31, 2023
Year ending October 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
21.00
21.00

Yen–

Yen
22.00

Yen
43.00

–

22.00

43.00

Year ending October 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending October 31, 2024 (from November 1, 2023 to October 31, 2024)

Full year

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
36,900 (14.9)
2,210 (18.8)
2,180 (18.1)
1,320 (24.6)
94.98

1

4. Notes(1) Changes in significant subsidiaries during the six months ended April 30, 2024
(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:

Yes(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 April 30, 2024

16,901,900 shares As of October 31, 2023

16,901,900 shares

Number of treasury shares at the end of the period
As of April 30, 2024

3,006,166 shares As of October 31, 2023

3,006,166 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended April 30, 2024

13,895,734 shares Six months ended April 30, 2023

213,895,734 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Thousands of yen)
As of October 31, 2023As of April 30, 2024

AssetsCurrent assets
Cash and deposits
Real estate for sale

18,955,466
13,599,472

18,179,778
12,338,004

Real estate for sale in process
Costs on construction contracts in progress

6,186,687
1,080,236

6,695,171
1,154,869

4,088
467,310

2,481
443,960

40,293,261

38,814,266

3,912,782
6,925,093

3,833,413
6,822,795

Supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net

584,389

761,883

11,422,265

11,418,093

Intangible assets

326,459

326,026

Investments and other assets

632,028

642,557

12,380,753

12,386,677

52,674,014

51,200,943

Notes payable, accounts payable for construction contracts
Electronically recorded obligations - operating

3,146,864
1,317,110

2,357,452
1,091,810

Short-term borrowings
Current portion of long-term borrowings

5,263,611
351,5704,996,011
346,637

Income taxes payable
Provision for bonuses

431,525
145,321314,985
105,690

Provision for bonuses for directors (and other officers)
Provision for warranties for completed construction

14,70035,666

4,200
29,050Total property, plant and equipment

Total non-current assets
Total assets
Liabilities
Current liabilities

Other
Total current liabilities

560,289

443,169

11,266,658

9,689,008

1,930,059
393,613

1,757,120
353,21346,513

41,103

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

3

2,370,186

2,151,436

13,636,844

11,840,445

(Thousands of yen)
As of October 31, 2023

As of April 30, 2024

Net assets
Shareholders' equityShare capital

1,584,837

1,584,837

Capital surplus
Retained earnings

1,344,145
37,362,769

1,344,145
37,608,813

Treasury shares(2,576,632)(2,576,632)

Total shareholders' equity

37,715,121

37,961,165

Valuation difference on available-for-sale securities

54,64971,451

Total accumulated other comprehensive income

54,64971,451

Accumulated other comprehensive income

Share acquisition rights

71,48081,045

Non-controlling interests

1,195,918

1,246,835

Total net assets

39,037,169

39,360,498

52,674,014

51,200,943

Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Thousands of yen)Six months ended

Six months endedApril 30, 2023

April 30, 2024

Net sales
Cost of sales

20,808,641
17,495,452

17,110,806
14,634,779

Gross profit

3,313,189

2,476,027

Selling, general and administrative expenses

1,834,675

1,572,657

Operating profit

1,478,513

903,370

Interest income
Dividend income

178
1,700283
2,653

Gain on sale of non-current assets
Other

2,762
16,48725,712
5,660

Total non-operating income

21,12834,30948,58540,165420598

Non-operating income

Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Impairment losses
Total extraordinary losses

49,00540,7641,450,636

896,915

–

6,467

–

6,467

1,450,636

890,448

Income taxes

461,811287,565

Profit988,824

602,883

Profit attributable to non-controlling interests

51,743

51,133

Profit attributable to owners of parent

937,081551,749

Profit before income taxes

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

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income

Six months ended

Six months endedApril 30, 2023

April 30, 2024

988,824

602,883

10,03818,985

10,03818,985Comprehensive income

998,863

621,868

Comprehensive income attributable toComprehensive income attributable to owners of parent

946,226

568,552

52,63653,316Comprehensive income attributable to non-controllinginterests

6Consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Six months ended

Six months endedApril 30, 2023

April 30, 2024

1,450,636

890,448

Depreciation
Impairment losses

114,752–

118,413
6,467

Amortization of goodwill
Share-based payment expenses

10,462
10,171–
9,565

Increase (decrease) in provisions
Increase (decrease) in retirement benefit liability(28,556)(1,778)(56,745)(40,399)

Interest and dividend income
Interest expenses(1,878)48,585(2,936)40,165(2,762)(2,803,897)(25,712)
1,136,044

Decrease (increase) in advance payments to suppliers
Decrease (increase) in other current assets

119,271
40,88046,366(22,206)

Increase (decrease) in trade payables
Increase (decrease) in advances received

310,408(84,084)(1,014,711)
12,095

Increase/decrease in consumption taxes payable/consumption
taxes refund receivable

142,068(27,221)

Increase (decrease) in other current liabilities
Other, net

41,161(2,508)(43,496)(5,037)

Subtotal(637,067)

1,021,097

Interest and dividends receivedInterest paid

2,787
(46,481)

3,847(40,362)

Gain on sale of non-current assets
Decrease (increase) in inventories

Income taxes paid

(491,159)(401,573)(1,171,920)

583,009

20,026(501,847)(0)(625,470)

Proceeds from sale of property, plant and equipment
Purchase of intangible assets

7,691(2,000)46,777–Purchase of shares of subsidiaries and associates
Other, net(6,000)(9,687)(800)(21,291)

Net cash provided by (used in) investing activities(491,817)(600,785)

Cash flows from financing activities
Net increase (decrease) in short-term borrowings

1,202,620(267,600)

Proceeds from long-term borrowings
Repayments of long-term borrowings

150,000(177,298)–(177,872)

Repayments of lease liabilities
Dividends paid

(2,069)(305,402)(4,354)(305,684)(4,000)(2,400)Net cash provided by (used in) operating activities
Cash flows from investing activities
Net decrease (increase) in time deposits
Purchase of property, plant and equipment

Dividends paid to non-controlling interests

863,849(757,911)

Net increase (decrease) in cash and cash equivalents

Net cash provided by (used in) financing activities(799,888)(775,687)

Cash and cash equivalents at beginning of period

17,593,195

17,395,458

Cash and cash equivalents at end of period

16,793,306

16,619,770

7