Consolidated Financial Results
for the Nine Months Ended March 31,2020[Japanese GAAP]May 14, 2020
Company name: Nippon Koei Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 1954
URL: https://www.n-koei.co.jp/english/
Representative: Ryuichi Arimoto, Representative Director and President
Contact: Tetsumi Aoki, General Manager, Accounting Department
Phone: +81-3-3238-8040
Scheduled date of filing quarterly securities report: May 14, 2020
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 31,2020 (July 1, 2019 to March 31, 2020)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net income attributable
Net sales
Operating income
Ordinary income
to owners of parent
Nine months ended
Million yen%
Million yen% Million yen% Million yen%
March 31, 2020
84,129
13.4
4,965
69.1
5,119
89.3
3,408 132.2
March 31, 2019
74,162
9.8
2,936
(6.2)
2,704 (15.9)
1,468 (39.3)(Note) Comprehensive income: Nine months ended March 31, 2020: ¥2,610 million [ 187 %]Nine months ended March 31, 2019: ¥909 million [ (61.1) %]Net income per share
Nine months ended
March 31, 2020
March 31, 2019

Yen
225.03
94.11

Diluted net income
per shareYen-(2) Consolidated Financial Position
Total assets
Net assets
As ofMillion yen
Million yen
March 31, 2020
150,023
59,861
June 30, 2019
113,175
60,205(Reference) Equity: As of March 31, 2020 : ¥58,717 million
As of June 30, 2019 : ¥59,090 million

Equity ratio
%
39.1
52.2

2. Dividends
Annual dividends
1st
2nd
3rd
Year-endquarter-end
quarter-end
quarter-end
Yen
Yen
Yen
Yen
Fiscal year ended June 30, 2019
75.00
Fiscal year ending June 30, 2020
Fiscal year ending June 30, 2020 (Forecast)
75.00(Note) Revision to the forecast for dividends announced most recently: Yes

1

Total
Yen
75.00
75.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending June 30, 2020 (July 1, 2019 to June 30, 2020)(% indicates changes from the previous corresponding period.)
Net income attributable
Net income
Net sales
Operating income
Ordinary income
to owners of parent
per share[Japanese
Million yen% Million yen% Million yen%
Million yen
%
Yen
GAAP]
Full year
115,800
6.6
4,600 (10.0)
5,000 (10.5)
2,700 (18.6)
178.24(Note) Revision to the financial results forecast announced most recently: Yes* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting inchanges in scope of consolidation): None
(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
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 stock)1) Total number of issued shares at the end of the period (including treasury stock)
As of March 31, 2020
: 15,933,058 shares
As of June 30, 2019
: 15,919,544 shares2) Total number of treasury stock at the end of the period
As of March 31, 2020:
898,223 shares
As of June 30, 2019:
235,268 shares
3) Average number of shares during the period
Nine months ended March 31,2020: 15,148,064 shares
Nine months ended March 31,2019: 15,599,847 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(Caution regarding forward-looking statements)
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 certain assumptions deemed reasonable. 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 ....................... 4
2. Quarterly Consolidated Financial Statements and Primary Notes .............................................................................. 5(1) Quarterly Consolidated Balance Sheet .................................................................................................................. 5(2) Quarterly Consolidated Statement of Income and Comprehensive Income .......................................................... 7(3) Quarterly Consolidated Statement of Cash Flows ................................................................................................. 8(4) Notes to Quarterly Consolidated Financial Statements ......................................................................................... 9(Notes on Going Concern Assumption) ................................................................................................................ 9(Notes on Significant Changes in Shareholders’ Equity) ...................................................................................... 9(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial Statements) .. 9
(Changes in Accounting Policies) ......................................................................................................................... 9(Segment Information) ........................................................................................................................................ 10(Significant Subsequent Events).......................................................................................................................... 11
3. Other Information ...................................................................................................................................................... 12(1) Status of Orders and Sales ................................................................................................................................... 121

1.

Qualitative Information on Quarterly Financial Results(1) Explanation of Operating Results
During the nine months ended March 31, 2020 (July 1, 2019 to March 31, 2020), Japan’s economy continued toshow a moderate recovery, supported by continued improvements in the employment and income environments.
However, the impact of the novel coronavirus (COVID-19) has significantly depressed the economic growth rate
recently. As for the future, there is concern that the prolonged effects of infectious diseases may materialize the risk
of further depressing the domestic and overseas economies.
With regard to the business environment surrounding Nippon Koei Co., Ltd. (the “Company”) and its subsidiaries(together, the “Group”), in the Domestic Consulting Business, initiatives for building national resilience against
disasters and measures against aging infrastructure in public works projects and, in the International Consulting
Business, the Japanese government's strategy for the export of high-quality infrastructure systems are being
promoted. In the Power Engineering Business, demand for the renewal of power distribution facilities, in the Urban& Spatial Development Business, demand for infrastructure development due to the progress of urbanization in
Asian countries and, in the Energy Business, demand for renewable energy due to the shift to low-carbon anddistributed power sources remained steady, respectively. Nonetheless, the Group needs to pay full attention tochanges in the business environment due to the influence of COVID-19.
Under these circumstances, based on the Medium-Term Management Plan “NK-Innovation 2021” (from July
2018 to June 2021), with the fundamental principles of “Continue evolution into global consulting and engineering
firm,” the Group tackled the five business strategies of “Enhancement of operating system for Railways Business,”“Overseas expansion of Urban & Spatial Development Business,” “Establishment of Energy Business,” “Creationof businesses and overseas expansion of Consulting Business,” and “Product development and overseas expansionof Power Engineering Business.” Moreover, as group-wide measures to realize these goals, the Group actively
advanced “Establishment of one-stop marketing system,” “Investment in technologies and human resources,” and“Enhancement of group governance.”
As a result, the Group ended the nine months of the current fiscal year with orders received having increased
34.2% year on year to ¥96,635 million, as the influence of COVID-19 has not been fully factored in for the period,
while net sales increased 13.4% year on year to ¥84,129 million, mainly due to the widened application of thepercentage-of-completion basis for our sales recognition in addition to the favorable business conditions in theDomestic Consulting Business. Operating income increased 69.1% year on year to ¥4,965 million, ordinary income
increased 89.3% year on year to ¥5,119 million, and income attributable to owners of parent increased 132.2% year
on year to ¥3,408 million.
Business results for each segment are as follows:[Domestic Consulting]In the Domestic Consulting Business, we further strengthened our management base and promoted efficientbusiness management by expanding orders received in Western Japan through the restructuring of order andoperating systems, securing and improving quality, reforming working styles, and other measures. In addition, we
worked to support the actions under the global strategy cooperating with the International Consulting Business andthe R&D Center, as well as to develop new businesses by utilizing the management know-hows, as its core, toimprove the value of infrastructure.
As a result, orders received increased 10.4% year on year to ¥35,645 million, net sales increased 18.7% year on
year to ¥39,398 million, operating income increased 58.5% year on year to ¥4,447 million and ordinary income
increased 58.2% year on year to ¥4,400 million.
[International Consulting]In the International Consulting Business, we worked to acquire and develop human resources, mainly in therailways business, as well as strengthening the operating system by enhancing project management capabilities,2and practicing strict management of profit, risks and safety. In addition, we were actively involved in the Public
Private Partnership (PPP) and the private sector business.
As a result, orders received increased 73.9% year on year to ¥30,909 million, net sales increased 1.9% year on
year to ¥16,690 million. Whereas, operating income decreased 39.2% year on year to ¥174 million and ordinary
income decreased 10.3% year on year to ¥144 million, due to an increase of selling, general and administrative
expenses.
[Power Engineering]
In the Power Engineering Business, we aggressively expanded the mechanical and electrical consulting businessby entering into new areas including traffic and transportation, as well as maintenance and management in view ofglobal development, strengthened group-wide cooperation in the energy-related business and maintenance andmanagement business, and strove to develop products and technologies of a global standard specification. We also
continued to improve price competitiveness and enhance sales force with rigorous cost reductions.
As a result, orders received increased 78.5% year on year to ¥17,173 million, and net sales increased 3.8% year
on year to ¥12,399 million, operating income increased 0.3% year on year to ¥1,682 million, and ordinary income
decreased 0.5% year on year to ¥1,612 million.
[Urban & Spatial Development]
In the Urban & Spatial Development Business, we responded to changes in the U.K. market and expanded ourbusiness in Asia by promoting Group-wide collaboration in Singapore while taking steps to enter the British
Commonwealth of Nations markets.
In addition to the above results, due in part to the contribution from Quadrangle Architects Limited, which joined
the Group in the previous fiscal year, orders received increased 8.3% year on year to ¥12,750 million, and net sales
increased 24.6% year on year to ¥13,796 million, operating income increased 928.4% year on year to ¥763 million,
and ordinary income increased 1,861.2% year on year to ¥616 million.
[Energy Business]
The Energy Business improved its profitability in the power generation business such as renewable energy andworked to develop new projects including PFI (Private Finance Initiatives) business. In addition, we accumulated
a track record in the renewable energy fields mainly in Europe and storage battery EPC (Engineering, Procurement& Construction) business in the energy management business, further sought to promote the resource aggregator(an operator that plays a central role in control and management in relation to both energy operators and sources ofdemand) and VPP (Virtual Power Plant) business.
As a result, orders received decreased 79.8% year on year to ¥95 million and net sales increased 47.9% year on
year to ¥854 million. In contrast, operating loss increased 66.1% year on year to ¥287 million and ordinary loss
increased 4.6% year on year to ¥231 million due to prior development investment in the overseas energy
management business.
[Real Estate Leasing]In the Real Estate Leasing Business, net sales decreased 0.03% year on year to ¥325 million. Operating income
decreased 1.9% year on year to ¥296 million and ordinary income decreased 1.6% year on year to ¥297 million.
(2) Explanation of Financial Position
Total assets as of the end of the third quarter of the fiscal year ending June 30, 2020, amounted to ¥150,023 million,
an increase of ¥36,848 million from the end of the previous fiscal year.
In the Assets section, current assets were ¥81,021 million, an increase of ¥28,574 million from the end of theprevious fiscal year. This was mainly due to a ¥3,637 million increase in cash and deposits and a ¥24,980 million
increase in notes and accounts receivable-trade.
3Non-current assets were ¥69,002 million, an increase of ¥8,274 million from the end of the previous fiscal year.
This was mainly due to a ¥4,942 million increase in construction in progress included in other items of property,
plant and equipment from the reconstruction of the head office building, and a ¥3,678 million increase in leased
assets included in other items of property, plant and equipment at overseas subsidiaries that applied IFRS 16.
In the Liabilities section, current liabilities were ¥64,333 million, an increase of ¥36,251 million from the end of
the previous fiscal year. This was mainly due to a ¥2,551 million increase in notes and accounts payable-trade anda ¥31,000 million increase in short-term loans payable.
Non-current liabilities were ¥25,828 million, an increase of ¥941 million from the end of the previous fiscal year.
This was mainly due to a ¥3,113 million increase in long-term lease obligations included in other items of noncurrent liabilities at overseas subsidiaries that applied IFRS 16, while a ¥1,688 million decrease in long-term loans
payable.
Net assets were ¥59,861 million, a decrease of ¥344 million from the end of the previous fiscal year. This was
mainly due to a decrease in accumulated other comprehensive income of ¥828 million due to a decrease in foreign
currency translation adjustments, while shareholders' equity increased by ¥455 million due to an increase in retained
earnings.
As a result, the shareholders’ equity ratio decreased 13.1 percentage points from the end of the previous fiscal year
to 39.1%.

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Statements
In light of recent earnings trends, the consolidated financial results forecast for the fiscal year ending June 30,
2020, published on August 13, 2019, has been revised as announced today (May 14, 2020). For matters regarding
the revision of forecasted figures, please refer to the “Notice of Revision of Consolidated Performance Forecast
and Dividend Forecast” which will be announced on May 29, 2020. Revised plans by segment are described in“Supplementary Materials for the Summary of Financial Reports 3Q, FYE June 30, 2020” on page 14.
While the International Financial Reporting Standards (IFRS) was scheduled to be introduced from the year-endof the fiscal year ending June 30, 2020, it will be applied from the year-end closing of accounts for the fiscal year
ending June 30, 2021, as announced today. For details, please refer to the “Postponement of Voluntary Adoptionof IFRS” which will be announced on May 29, 2020.

4

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets

As of June 30, 2019

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Work in process
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of March 31, 2020

13,14729,938
5,709
3,855
(203)
52,446

16,78454,919
4,860
4,748
(291)
81,021

5,421
16,0358,425
29,882

5,231
16,035
17,191
38,457

8,193
5,307
13,501

17,514(169)
17,34560,728113,175

5(Millions of yen)

7,595
4,849
12,444

18,256(155)
18,10069,002150,023

As of June 30, 2019

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Advances received
Provision for bonuses
Provision for directors' bonuses
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Provision for directors' retirement benefits
Provision for environmental measures
Liability for retirement benefits
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Defined retirement benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of March 31, 2020

5,037
2,082
1,137
6,687
1,972
91
119
10,95328,082

7,588
31,000
2,276
1,509
8,712
3,021
25
85
10,11364,3337,437
6,488
47,864(787)
61,0037,458
6,509
50,018(2,528)61,45817,639
30
34
3,817
3,364
24,88652,969456(3,063)693(1,913)
1,115
60,205
113,175

6(Millions of yen)

15,951
17
34
3,732
6,092
25,82890,16237(3,496)718(2,741)
1,143
59,861150,023

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
For the Nine months ended March 31, 2019 and 2020

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income (loss)
Non-operating income
Interest income
Dividend income
Gain on sales of investment securities
Gain on derivatives
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Foreign exchange losses
Other
Total non-operating expenses
Ordinary income (loss)
Income (loss) before income taxes
Income taxes – current
Income taxes – deferred
Total income taxes
Net income (loss)
Net income (loss) attributable to
Net income (loss) attributable to owners of parent
Net income (loss) attributable to non-controlling interests
Other comprehensive income (loss)
Valuation difference on available-for-sale securities
Foreign currency translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income (loss)
Comprehensive income (loss)
Comprehensive income (loss) attributable toComprehensive income (loss) attributable to owners of parent
Comprehensive income (loss) attributable to non-controllinginterests

7(Millions of yen)

For the nine months
ended March 31, 2019
(From July 1, 2018
to March 31, 2019)
74,162
51,465
22,697
19,7602,936

For the nine months
ended March 31, 2020
(From July 1, 2019
to March 31, 2020)
84,12958,13525,99421,028
4,965

205
166
185
311
868
2,704
2,704
1,302
(68)
1,233
1,470

326
35
193
49
605
5,119
5,119
2,076
(393)
1,682
3,437

(436)
(50)
(55)

(419)
(444)
24

184
111
143
196
636

1,468
2

(18)

163
84
186
144
180
760

3,408
28

13

(561)
909

(826)
2,610

(5)

30

914

2,580

(3) Quarterly Consolidated Statements of Cash Flows

Cash flows from operating activities
Income (loss) before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sales of investment securities
Share of loss (gain) of entities accounted for using equity method
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for loss on construction contracts
Interest and dividend income
Loss (gain) on derivatives
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in accounts payable - other
Increase (decrease) in advances received
Increase (decrease) in consumption taxes receivable/payable
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
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
Purchase of investment securities
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Purchase of shares of subsidiaries and associates
Payments of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Repayments of lease obligations
Proceeds from sales of treasury shares
Purchase of treasury shares
Cash dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

8

For the nine months
ended March 31, 2019
(From July 1, 2018
to March 31, 2019)(Millions of yen)
For the nine months
ended March 31, 2020
(From July 1, 2019
to March 31, 2020)

431(3,549)555(402)(5,577)
724

2,704
1,178
379
16
166
(7)
846
(44)
(295)
(143)
(19,447)(3,239)
2,981
(204)
2,266
(525)
(2,109)(15,476)201(148)(1,281)(16,704)(2,685)

(622)
(173)
(6,044)21,500(1,457)
(21)
280
(7)
(1,187)
1,233
20,341(7)(2,414)
15,233
12,818

5,119
1,720
409
(186)
35
74
1,090
(34)
(248)
(144)
(25,157)
797
2,607
(570)
2,022
(1,712)(84)(14,261)
244(287)(1,616)(15,921)

-

(241)
(960)
(282)
(6,740)31,000(1,413)(544)
260(2,001)(1,190)(2)
26,107(179)
3,266
12,663
15,929(4) Notes to 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 26, 2019,
we issued new shares as restricted stock compensation for Directors on October 25, 2019. As a result, capital stockand capital reserve increased by ¥21 million, respectively, during the nine months ended March 31, 2020.
Subsequently, capital stock and capital surplus at the end of the first nine months of the fiscal year were ¥7,458
million and ¥6,509 million, respectively.
(Purchase of treasury shares)
At the meeting of Board of Directors held on August 13, 2019, the Company resolved regarding mattersconcerning the acquisition of treasury shares in accordance with the provisions of Article 156 of the Companies
Act, which shall be applied mutatis mutandis pursuant to the provision of Paragraph 3 of Article 165 of the same
Act, and executed the same as follows. The share acquisition based on the above resolution by the Board of
Directors was completed as of November 22, 2019.
・Type of shares acquired: Common stock of the Company

・Total number of shares acquired : 748,100 shares・Total purchase price of shares: ¥1,999,757,700

・Acquisition period: From August 14, 2019 to November 22, 2019

・Acquisition method: Market purchase on the Tokyo Stock Exchange(Accounting Policies Adopted Specially for the Preparation of Quarterly Consolidated Financial Statements)(Deferral of cost variance)
Cost variance caused by seasonal changes in operation rates, etc. is expected to be almost completely
eliminated by the end of the cost accounting period, which is, therefore, deferred as other current liabilities.

(Changes in Accounting Policies)(Application of IFRS 16 "Leases")
Subsidiaries adopting International Financial Reporting Standards (IFRS) have applied International
Financial Reporting Standard 16 "Leases" (hereinafter referred to as "IFRS 16") since the first quarter of the
fiscal year ending June 30, 2020. Accordingly, the lessee shall, in principle, record all leases on the balance
sheet in assets and liabilities.
The application of IFRS 16 is subject to transitional treatment and the cumulative effect of change inaccounting policy is recorded in retained earnings at the beginning of the first quarter of the fiscal year ending
June 30, 2020.
As a result, at the end of the third quarter of the fiscal year ending June 30, 2020, "Property, plant andequipment" increased by ¥3,663 million, "Other" of current liabilities increased by ¥666 million, and "Other"of non-current liabilities increased by ¥3,089 million. The impact on income and loss for the third quarter ofthe fiscal year ending June 30, 2020 and the impact on the beginning balance of the current fiscal year ofretained earnings are immaterial.

9

(Segment Information)
For the nine months ended March 31, 2019 (from July 1, 2018 to March 31, 2019)1)

Net sales and segment income or loss by reportable segment(Millions of yen)
Reportable segment
International
Consulting

Power
Engineering

33,18916,384

11,942546

55

33,735

16,439Urban &

Others(Note)

Total

EnergyBusiness

Real Estate
Leasing

Subtotal

11,074577

325

73,494

668

74,162

208

57

-

123

991

750

1,741

12,151

11,132577

449

74,485

1,418

75,904

2,781
160
1,621
31
(221)
302
4,675
(1,984)(Note) “Others” refers to a group of operations from which no income is gained or that produce only incidental gains.

2,690

Net sales
Net sales to externalcustomers
Intersegment sales ortransfers
Total

Domestic
Consulting

SpatialDevelopment

Segment income (loss)

2)

Differences between the total amount of income or loss of reportable segments and the amounts in quarterly
consolidated statement of income and comprehensive income, and major breakdown of such differences(reconciliation)(Millions of yen)
IncomeAmountReportable segment total

4,675

Loss of “others” category(1,984)

Elimination of intersegment transactions

14

Ordinary Income (loss) in the quarterly consolidated
statement of income and comprehensive income

3)

2,704

Reportable segment information concerning impairment losses on noncurrent assets, goodwill, etc.
(Significant change in the amount of goodwill)
While during the nine months ended March 31, 2019, a consolidated subsidiary of BDP Holdings Limited,
our consolidated subsidiary, acquired shares of Quadrangle Architects Limited and included it in the scope of
consolidation resulting in 23 million Canadian dollars (¥1,929 million) for tentatively calculated goodwill
recorded in the reporting segment of “Urban & Spatial Development”, it was adjusted to 11 million Canadiandollars (¥923 million) because the purchase price allocation was completed and the tentative accounting was
confirmed at the end of the previous fiscal year.

10For the nine months ended March 31, 2020 (from July 1, 2019 to March 31, 2020)
1)

Net sales and segment income or loss by reportable segment(Millions of yen)
Reportable segment
International
Consulting

Power
Engineering

39,398

16,69012,399269

4339,667

16,733

Urban &

Others(Note)

Total

EnergyBusiness

Real Estate
Leasing

Subtotal

13,796854

325

83,465664

84,129

212

75

-

123

723

701

1,424

12,611

13,871854

448

84,1881,365

85,553

(231)
297
6,838
(1,654)
4,400
144
1,612
616
(Note) “Others” refers to a group of operations from which no income is gained or that produce only incidental gains.

5,184

Net sales
Net sales to externalcustomers
Intersegment sales ortransfers
Total

Domestic
Consulting

SpatialDevelopment

Segment income (loss)

2)

Differences between the total amount of income or loss of reportable segments and the amounts in quarterly
consolidated statement of income and comprehensive income, and major breakdown of such differences(reconciliation)(Millions of yen)
IncomeAmountReportable segment total

6,838

Loss of “others” category(1,654)

Elimination of intersegment transactions(64)

Ordinary Income (loss) in the quarterly consolidated
statement of income and comprehensive income

5,119(Significant Subsequent Events)
There is no relevant information.

11

3.

Other Information(1) Status of Orders and Sales

Orders received

By period_ For the nine months ended For the nine months ended
March 31, 2019
March 31, 2020
AmountAmountCategory/Segment
Ratio (%)
Ratio (%)
(Millions of yen)
(Millions of yen)Domestic Consulting
32,28344.8
35,64536.8
International Consulting
17,77524.7
30,90932.0
Power Engineering
9,619
13.4
17,173
17.8
Urban & Spatial Development
11,771
16.3
12,750
13.2
Energy Business
470
0.7
95
0.1
--Real Estate Leasing

Net sales 2

Net sales 1

Others
Total
Domestic Consulting
International Consulting
Power Engineering
Urban & Spatial Development
Energy Business
Real Estate Leasing
Others
Total
Domestic Consulting
International Consulting
Power Engineering
Urban & Spatial Development
Energy Business
Real Estate Leasing
Others
Total

Category/Business

By period_

Outstanding Orders

Impact of foreignexchange fluctuations

Domestic Consulting
International Consulting
Power Engineering
Urban & Spatial Development
Energy Business
Real Estate Leasing
Others
Total
Domestic Consulting
International Consulting
Power Engineering
Urban & Spatial Development
Energy Business
Real Estate Leasing
OthersTotal

74
71,99535,072

0.1
100.0
47.3

61
96,63541,532

0.1
100.0
49.4

11,942
11,074577
325
668
74,162

16.1
14.9
0.8
0.4
0.9
100.0

12,39913,796854
325
664
84,129

14.7
16.4
1.0
0.4
0.8
100.0

17,333
9,803
11,056491
325
78
74,162
33,18916,384

23.4
13.2
14.9
0.7
0.4
0.1
100.0
44.8
22.1

17,717
10,037
13,665784
325
6584,12939,398
16,690

21.1
11.9
16.2
0.9
0.4
0.1
100.0
46.9
19.8

As of March 31, 2019
As of March 31, 2020
AmountAmountRatio (%)
Ratio (%)
(Millions of yen)
(Millions of yen)--(974)
--

32
--

(24)
---8

28,28966,81912,85014,179327--

21122,487

23.1
54.6
10.4
11.6
0.3

0.0
100.0

(330)
(8)
--(1,313)
25,86280,057
22,14016,433127--

1144,623

17.9
55.3
15.3
11.4
0.1

0.0
100.0

For the fiscal year ended
June 30, 2019
AmountRatio (%)
(Millions of yen)
52,85544.7(Note 1) 28,482
24.1
15,411
13.1(Note 1) 20,510
723
--

17.4
0.6

100
118,085
52,183

0.1
100.0
48.1

16,531
15,359
719
439
1,016
108,589

15.2
14.1
0.7
0.4
0.9
100.0

26,424
13,441
15,337641
439
120
108,589
49,59324,928

24.3
12.4
14.1
0.6
0.4
0.1
100.0
45.7
23.0

As of June 30, 2019
AmountRatio (%)
(Millions of yen)-(563)(982)---(1,545)
31,75067,84015,004
17,679522--

5132,801

23.9
51.1
11.3
13.3
0.4

0.0
100.0

Notes: 1. This includes the outstanding orders at the beginning of consolidation for Nippon Koei Mozambique, Limitada, Kisho
Kurokawa Architect & Associates Co., Ltd., and Quadrangle Architects Limited. which were consolidated from the previous
fiscal year.
2. The above amounts are exclusive of consumption taxes and other taxes.
3. The above amounts are for external customers, and do not include intersegment transactions or transfers.
4. Net sales 1 is by segment which received orders. Net sales 2 is by segment which provided services.

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