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 Year Ended March 31, 2023
(Based on Japanese GAAP)May 9, 2023
Company name:

DAISUE CONSTRUCTION CO., LTD.

Stock exchange listing: Tokyo
Stock code:
1814
Representative:
Inquiries:

URL

https://www.daisue.co.jp/President & Representative Director
General Manager of General Affairs

Department
Scheduled date of ordinary general meeting of shareholders:Kazunori Murao
Yasumi Iwata

TEL

06-6121-7121

June 23, 2023

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

June 23, 2023
June 6, 2023

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

Yes
Yes

(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(1) Consolidated operating results
Net salesYear ended March 31, 2023Year ended March 31, 2022

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%
1,887(30.3)
1,939(28.5)
1,321(27.3)
2,708
22.3
2,712
22.2
1,816
13.3

Millions of yen
71,834
69,645%
3.1
23.3

Earnings per share

Diluted earnings pershare

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%–
6.3
4.1
2.6–
9.1
6.1
3.9

Yen
126.24173.23Year ended March 31, 2023
Year ended March 31, 2022
(2) Consolidated financial position

Total assets
As of March 31, 2023
As of March 31, 2022

Net assets

Equity ratio

Millions of yen
45,62548,662Millions of yen
21,536
20,629Cash flows fromoperating activities
Millions of yen
4,192
1,960

Cash flows frominvesting activities
Millions of yen
(516)
(122)

Net assets per share%
47.2
42.4

Yen
2,055.58
1,968.06(3) Consolidated cash flows

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

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(1,009)
9,986
(535)
7,320

2. Cash dividends
Annual dividends per share
1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end

Year ended March 31, 2022
Year ended March 31, 2023
Year ending March 31, 2024
(Forecast)of dividends
Total cash
Dividend payout Ratio
to net assets
dividends (Total) ratio (Consolidated) (Consolidated)

Total

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

––

20.00
30.00

––

40.00
34.00

60.00
64.00

629
670

34.6
50.73.2
3.2–35.00

–

35.00

70.00

150.2

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Net sales
Millions of yen
Six months ending
September 30, 2023
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%
Yen

36,300(6.5)

760(18.4)

780(18.6)

500(25.9)

47.78

77,100

7.3

2,200

16.6

2,230

15.0

1,460

10.5139.51

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) 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:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023

10,614,225 shares As of March 31, 2022

10,614,225 shares

Number of treasury shares at the end of the period
As of March 31, 2023

137,131 shares As of March 31, 2022

132,019 shares

10,465,139 shares Year ended March 31, 2022

10,485,238 shares

Average number of shares during the period
Year ended March 31, 2023

2

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed
construction contracts, and contract assets
Electronically recorded monetary claims - operating
Real estate for sale
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture and fixtures
Land
Accumulated depreciation
Total property, plant and equipment

As of March 31, 2023

7,520

10,18629,30425,464

4,589
506
970
294
(9)

1,936
506
1,068
365
(3)

43,17639,523

1,091
615
952
(998)

1,299
653
1,205
(1,087)

1,661

2,072

Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts

134

265

1,836
28
763
732
329
(0)

2,166
26
498
725
347
(0)

Total investments and other assets

3,689

3,764

5,485

6,101

48,662

45,6259,186
11,144
100
176
660
1,853
689
285
332
1,364

8,205
9,663
100
83
79
1,461
743
283
107
1,255

Total current liabilities

25,792

21,982

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for share awards
Other102
2,115
–21

19
2,015
41
29

Total non-current liabilities

2,240

2,105

28,032

24,088

Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable for construction contracts
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Advances received on construction contracts in progress
Provision for warranties for completed construction
Provision for bonuses
Provision for loss on construction contracts
Other

Total liabilities

3

(Millions of yen)
As of March 31, 2022

As of March 31, 2023

Net assets
Shareholders' equity
Share capital

4,324

4,324

Capital surplus
Retained earnings

4
15,99535
16,582

Treasury shares

(108)

(143)

20,215

20,798Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans

464
(51)

782
(45)

Total accumulated other comprehensive income

413

737

20,62921,536

48,662

45,625

Total shareholders' equity
Accumulated other comprehensive income

Total net assetsTotal liabilities and net assets

4Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2022

Fiscal year ended
March 31, 2023

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

68,792853

71,054780

Total net sales

69,64571,83462,94665,821

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

647

628

63,59466,450Gross profit on completed construction contracts
Gross profit on real estate business and other

5,845
205

5,232
152

Total gross profit

6,051

5,384

Selling, general and administrative expenses

3,343

3,497

Operating profit

2,708

1,887

946

673

Other

912

Total non-operating income

6592

Interest expenses
Commission expenses

342

331

Other

145

Total cost of sales
Gross profit

Non-operating income
Interest income
Dividend income

Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Loss on sale of investment securities
Total extraordinary losses

60

40

2,712

1,939

0–

0–

2–

19––
8

22

8

Profit before income taxes

2,689

1,930

Income taxes - current
Income taxes - deferred

969
(95)

487
122

Total income taxes

873

609

1,816

1,321

–

–

1,816

1,321

ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent5

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023
1,816

1,321

Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax

131
(9)

318
6

Total other comprehensive income

122324

1,939

1,645

1,939

1,645

–

–

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

6Consolidated statements of changes in equity
Fiscal year ended March 31, 2022
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Treasury shares

4

14,598

(103)

4,324

Total
shareholders'equity
18,823

Changes during period
Dividends of surplus(419)

Profit attributable to owners of parent

1,816

(419)
1,816

Purchase of treasury shares

(4)

(4)

Disposal of treasury shares

00

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

––

1,396

(4)

1,392

4,324

4

15,995(108)

20,215

Accumulated other comprehensive incomeValuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income332(42)

290

Balance at beginning of period

Total net assets

19,114

Changes during period
Dividends of surplus(419)

Profit attributable to owners of parent

1,816

Purchase of treasury shares(4)

Disposal of treasury shares

0131

(9)

122

122

Total changes during period

Net changes in items other than shareholders' equity

131(9)

122

1,514

Balance at end of period

464

(51)

413

20,6297Fiscal year ended March 31, 2023
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Treasury shares

415,995

(108)

4,324

Total
shareholders'equity
20,215

Changes during period
Dividends of surplus

(733)

(733)

Profit attributable to owners of parent

1,321

1,321

Purchase of treasury shares
Disposal of treasury shares30(102)

(102)

67

98

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period

–

30

587

(35)

582

4,324

35

16,582(143)

20,798

Accumulated other comprehensive income
Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

464

(51)

413

Balance at beginning of period

Total net assets

20,629Changes during period
Dividends of surplus(733)

Profit attributable to owners of parent

1,321

Purchase of treasury shares(102)

Disposal of treasury shares98

Net changes in items other than shareholders' equity

318

6324

324

Total changes during period

318

6324

906

Balance at end of period

782

(45)

737

21,536

8Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for warranties for completed
construction
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for loss on construction
contracts
Interest and dividend income
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts inprogress
Decrease (increase) in real estate for sale
Increase (decrease) in trade payables
Increase (decrease) in advances received on construction
contracts in progress
Increase (decrease) in deposits received
Other, net

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023
2,689
139
(6)
(68)
(53)

1,930
122
(6)
(52)
(31)

227

54

(10)

(1)

205

(224)

(55)
3
(6,124)

(86)
3
6,493

(554)

(97)

0
6,167

–
(2,462)

486

(392)

(75)
66

43(136)

Subtotal

3,038

5,155

Interest and dividends receivedInterest paid
Income taxes paid

51(3)(1,126)86(3)(1,046)

Net cash provided by (used in) operating activities

1,960

4,192(77)
(35)
(2)
5(2)
4(27)
9(400)
400
5(523)
(136)
(103)
200
(2)
4(1)
46(400)
400
(0)

(122)

(516)

150
(252)
(415)
(18)

–(176)
(727)
(106)

(535)

(1,009)Net increase (decrease) in cash and cash equivalents

1,302

2,666

Cash and cash equivalents at beginning of period

6,017

7,320

Cash and cash equivalents at end of period

7,320

9,986

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Payments of leasehold and guarantee deposits
Proceeds from refund of leasehold and guarantee deposits
Payments into time deposits
Proceeds from withdrawal of time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Other, net
Net cash provided by (used in) financing activities

9