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, 2021
(Based on Japanese GAAP)May 7, 2021
Company name:
DAISUE CONSTRUCTION CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

1814
URL https://www.daisue.co.jp/
Representative Director President
Kazunori Murao

Inquiries:

Executive Officer General Manager ofGeneral Affairs Department

Yoshinori Miyake

Scheduled date of ordinary general meeting of shareholders:
Scheduled date to file Securities Report:

June 25, 2021
June 25, 2021

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

June 8, 2021
Yes

Holding of financial results meeting:

NoTEL

06-6121-7143(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(1) Consolidated operating results
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%
Year ended March 31, 2021
56,490(13.3)
2,214(19.9)
2,219(19.9)
1,603(15.5)
Year ended March 31, 2020
65,1670.5
2,763(29.1)
2,770(28.6)
1,897(32.6)
Diluted earnings pershare
Yen
Yen
152.83–181.12–

Earnings per share
Year ended March 31, 2021
Year ended March 31, 2020

Return on equity%8.7
11.1

Ordinary profit to Operating profit tototal assets
net sales%%
5.4
3.9
6.5
4.2

(2) Consolidated financial position
Total assets
As of March 31, 2021
As of March 31, 2020

Net assets

Equity ratio

Millions of yen
40,533
41,406

Millions of yen
19,114
17,632

Cash flows fromoperating activities
Millions of yen(3,091)(2,755)

Cash flows frominvesting activities
Millions of yen
7(22)Net assets per share%
47.2
42.6

Yen
1,822.51
1,680.08(3) Consolidated cash flows

Year ended March 31, 2021
Year ended March 31, 2020

Cash flows from
Cash and cash equivalents
financing activities
at end of period
Millions of yen
Millions of yen(706)
6,017
(939)
9,807

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

Year ended March 31, 2020
Year ended March 31, 2021
Year ending March 31, 2022
(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
20.00

––

20.00
20.00

40.00
40.00

419
419

22.1
26.22.5
2.3–

20.00

–

20.00

40.00

124.8

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
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
31,80016.4
940(5.4)920(8.5)
630 (21.6)
60.04
September 30, 2021
Full year
69,000
22.1
2,500
12.9
2,480
11.7
1,690
5.4161.07
4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2021
(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:
Changes in accounting policies due to other reasons:

No
No

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

NoNo(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, 2021

10,614,225 shares As of March 31, 2020

10,614,225 shares

Number of treasury shares at the end of the period
As of March 31, 2021

126,153 shares As of March 31, 2020

119,434 shares

10,492,355 shares Year ended March 31, 2020

10,476,236 shares

Average number of shares during the period
Year ended March 31, 20212

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed
construction contracts and other
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, 2021

10,0086,217

24,70625,081

636
506
492
288
(13)

2,688
506
416
355
(16)

36,62535,2481,080490
952(894)

1,092
576
952
(937)

1,628

1,683

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

159

158

1,427
29
893
643
(0)

1,668
29
722
1,022
(0)

Total investments and other assets

2,992

3,442

4,780

5,285

41,406

40,533

7,367

6,512

9,009
100
261
20
320
2,022
408
276
223
1,158

7,650
100
218
10
856
1,367
462
295
126
1,450

Total current liabilities

21,16919,051

Non-current liabilities
Bonds payable
Long-term borrowings
Retirement benefit liability
Other

10381
2,204
9–
162
2,190
14

Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
and other
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Current portion of bonds payable
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 non-current liabilities
Total liabilities

32,605

2,367

23,774

21,419(Millions of yen)
As of March 31, 2020

As of March 31, 2021

Net assets
Shareholders' equity
Share capital
Capital surplus

4,324
4

4,324
4

Retained earnings
Treasury shares

13,414(99)

14,598(103)

Total shareholders' equity

17,643

18,823

164

332

(176)

(42)

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets4(11)290

17,632

19,114

41,406

40,533

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2020

March 31, 2021

Net sales
Net sales of completed construction contracts

64,31555,688Net sales in real estate business and other

851

801

65,16756,490

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

58,895654

50,436597

Total cost of sales

59,54951,034

5,420

5,251

Total net salesCost of sales

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

197

204

5,618

5,455

Selling, general and administrative expenses

2,854

3,240

Operating profit

2,763

2,214

Non-operating income
Interest income

119Dividend income
Other

54
945
11

Total non-operating income

7566

Total gross profit

Non-operating expenses
Interest expenses

85Commission expenses
Other

56
347
8

Total non-operating expenses

6862

2,770

2,219

Gain on sale of investment securities

0168

Total extraordinary income

0168Ordinary profit
Extraordinary income

Profit before income taxes

2,771

2,387

Income taxes - current

930

747

Income taxes - deferred(56)36

Total income taxes

874

784

1,897

1,603

––

1,897

1,603

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

5Consolidated statements of comprehensive income(Millions of yen)
Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Profit

1,897

1,603

Other comprehensive income
Valuation difference on available-for-sale securities

(274)

168

Remeasurements of defined benefit plans, net of tax(41)

134(315)

302

Comprehensive income

Total other comprehensive income

1,581

1,906

Comprehensive income attributable toComprehensive income attributable to owners of parent

1,581

1,906

–

–

Comprehensive income attributable to non-controllinginterests

6

Consolidated statements of changes in equity
Fiscal year ended March 31, 2020
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Treasury shares–

11,935

(142)

4,324

Total
shareholders'equity
16,117

Changes during period
Dividends of surplus(418)(418)

Profit attributable to owners of parent

1,897

1,897

Purchase of treasury shares
Disposal of treasury shares

4(5)

(5)

48

52

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

–

4

1,478

42

1,525

4,324

4

13,414(99)

17,643

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference on
available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensiveincome

439

(135)

303

Total net assets16,421

Changes during period
Dividends of surplus(418)

Profit attributable to owners of parent

1,897

Purchase of treasury shares(5)

Disposal of treasury shares

52(274)

(41)

(315)

(315)

Total changes during period

Net changes in items other than shareholders' equity

(274)

(41)

(315)

1,210

Balance at end of period

164

(176)

(11)

17,632

7

Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

Capital surplus

Retained earnings

Treasury shares

413,414

(99)

4,324

Totalshareholders'equity
17,643

Changes during period
Dividends of surplus(419)

Profit attributable to owners of parent

1,603(419)
1,603

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

––

1,183

(4)

1,179

4,324

4

14,598(103)

18,823

Accumulated other comprehensive income

Balance at beginning of period

Valuation difference on
available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensiveincome

164(176)(11)

Total net assets

17,632

Changes during period
Dividends of surplus(419)

Profit attributable to owners of parent

1,603

Purchase of treasury shares(4)

Disposal of treasury shares

0168

134

302

302

Total changes during period

Net changes in items other than shareholders' equity

168

134

302

1,482

Balance at end of period

332

(42)

290

19,1148

Consolidated statements of cash flows(Millions of yen)
Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Cash flows from operating activities
Profit before income taxes
Depreciation

2,771
108

2,387
126

Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset

2(207)

2(214)

Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for bonuses

110
70

16
19

Interest and dividend income
Interest expenses

(65)
8(56)
5(1,739)(2,426)75

76

3–(3,168)(2,213)652(655)

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

154

(103)

Other, net

20155

Subtotal(1,203)(2,879)65

60

Interest paid
Income taxes paid

(8)
(1,609)(5)(266)

Net cash provided by (used in) operating activities(2,755)(3,091)

Interest and dividends received

Cash flows from investing activities
Purchase of property, plant and equipment

(49)

(85)

Purchase of intangible assets
Purchase of investment securities(31)(1,002)(57)(1,502)

Proceeds from sale of investment securities
Loan advances

1,016
(10)

1,692
(6)

2(3)

5(22)

Proceeds from refund of leasehold and guarantee deposits
Payments into time deposits

3(401)

5(400)

Proceeds from withdrawal of time deposits
Other, net

461
(7)

401
(22)

Net cash provided by (used in) investing activities

(22)

7

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

Proceeds from collection of loans receivable
Payments of leasehold and guarantee deposits

(200)

–

Repayments of long-term borrowings
Dividends paid

(297)
(413)

(261)
(417)

Other, net

(29)

(27)

(939)

(706)

Net increase (decrease) in cash and cash equivalents

Net cash provided by (used in) financing activities(3,717)(3,790)Cash and cash equivalents at beginning of period

13,524

9,807

Cash and cash equivalents at end of period

9,807

6,017

9