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, 2022
(Based on Japanese GAAP)May 10, 2022
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

06-6121-7143

June 24, 2022

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

June 24, 2022
June 7, 2022

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, 2022 (from April 1, 2021 to March 31, 2022)(1) Consolidated operating results

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
23.3
2,708
22.3
2,712
22.2
1,816
13.3
(13.3)
2,214(19.9)
2,219 (19.9)
1,603(15.5)Net salesYear ended March 31, 2022
Year ended March 31, 2021

Millions of yen
69,64556,490

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassets
sales
parent/equity
Yen%%%
–
9.1
6.1
3.9
–
8.7
5.4
3.9

Diluted earnings pershare

Earnings per share
Yen
173.23152.83

Year ended March 31, 2022
Year ended March 31, 2021
(2) Consolidated financial position

Total assets
As of March 31, 2022
As of March 31, 2021

Net assets

Equity ratio

Millions of yen
48,66240,533

Millions of yen
20,62919,114

Cash flows fromoperating activities
Millions of yen
1,960(3,091)

Cash flows frominvesting activities
Millions of yen(122)7

Net assets per share%
42.4
47.2

Yen
1,968.06
1,822.51(3) Consolidated cash flows

Year ended March 31, 2022
Year ended March 31, 2021

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen(535)
7,320(706)6,017

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

Year ended March 31, 2021
Year ended March 31, 2022
Year ending March 31, 2023
(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
40.00

40.00
60.00

419
629

26.2
34.62.3
3.2–50.00–50.00

100.00152.7

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Millions of yen
Six months ending
September 30, 2022
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

39,000

19.2

1,200

6.7

1,220

8.1

840

8.7

80.11

77,500

11.3

2,900

7.1

2,920

7.6

1,990

9.6

189.794. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2022
(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:
Yes
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

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, 2022

10,614,225 shares As of March 31, 2021

10,614,225 shares

Number of treasury shares at the end of the period
As of March 31, 2022

132,019 shares As of March 31, 2021

126,153 shares

10,485,238 shares Year ended March 31, 2021

10,492,355 shares

Average number of shares during the period
Year ended March 31, 20222

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of March 31, 2022

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

6,217

7,520

25,081––

29,304

2,688

4,589

Real estate for sale
Costs on construction contracts in progress

506
416

506
970

Other
Allowance for doubtful accounts

355
(16)

294
(9)

35,24843,176

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

1,092
576

1,091
615

Land
Accumulated depreciation

952
(937)

952
(998)

Total property, plant and equipment

1,683

1,661

158

134

Investment securities
Long-term loans receivable

1,668
291,836
28

Deferred tax assets
Retirement benefit asset

722
698

763
732

Other
Allowance for doubtful accounts

323
(0)

329
(0)

Total investments and other assets

3,442

3,689

construction contracts and otherNotes receivable, accounts receivable from completed
construction contracts, and contract assets
Electronically recorded monetary claims - operating

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Investments and other assets

Total non-current assets
Total assets

3

5,285

5,485

40,533

48,662

(Millions of yen)
As of March 31, 2021

As of March 31, 2022

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

6,512

9,186

7,650

11,144

Short-term borrowings
Current portion of long-term borrowings

100
218

100
176

Current portion of bonds payable
Income taxes payable

10856

–660

1,367
462

1,853
689

295
126

285
332

Other

1,450

1,364

Total current liabilities

19,051

25,792

162
2,190

102
2,115

1421

Advances received on construction contracts in progress
Provision for warranties for completed constructionProvision for bonuses
Provision for loss on construction contracts

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

42,3672,240

21,41928,032

(Millions of yen)
As of March 31, 2021

As of March 31, 2022

Net assets
Shareholders' equity
Share capital

4,324

4,324

Capital surplus
Retained earnings

4
14,5984
15,995

Treasury shares

(103)

(108)

18,823

20,215

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

332
(42)

464
(51)

Total accumulated other comprehensive income

290

413

19,114

20,62940,533

48,662

Total shareholders' equity
Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

5Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2021

Fiscal year ended
March 31, 2022

Net sales
Net sales of completed construction contracts
Net sales in real estate business and other55,688
801

68,792853

Total net sales

56,49069,64550,436

62,946

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

597

647

51,034

63,594Gross profit on completed construction contracts
Gross profit on real estate business and other

5,251
204

5,845
205

Total gross profit

5,455

6,051

Selling, general and administrative expenses

3,240

3,343

Operating profit

2,214

2,708

Interest income
Dividend income

945

946

Other

119

Total non-operating income

6665

Interest expenses
Commission expenses

547

342

Other

814

Total cost of sales
Gross profit

Non-operating 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
Total extraordinary losses

6260

2,219

2,712

168

0168

0–

2–

19–

22

2,387

2,689

Income taxes - current

747

969

Income taxes - deferred36(95)

Profit before income taxes

Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

6784873

1,603

1,816–

–

1,603

1,816

Consolidated statements of comprehensive income(Millions of yen)

ProfitOther comprehensive income

Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022
1,603

1,816

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

168
134

131
(9)

Total other comprehensive income

302

122

1,906

1,939

1,906

1,939––

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

7Consolidated statements of changes in equity
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

Total
shareholders'equity17,643

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
Valuation difference
on available-for-salesecurities

Remeasurements ofdefined benefit plans

Total accumulated
other comprehensive
income

164

(176)

(11)

Balance at beginning of period

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

134302302

Total changes during period

Net changes in items other than shareholders' equity

168

134

302

1,482

Balance at end of period332(42)

290

19,1148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 income
Valuation 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 period464(51)

413

20,6299Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activities
Profit before income taxes

Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022
2,387

2,689

Depreciation
Increase (decrease) in allowance for doubtful accounts

126
2139(6)

Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability(214)
16(68)
(53)

53

227

19(10)(97)

205(56)(55)

5(2,426)

3(6,124)

76

(554)

–(2,213)

0
6,167

Increase (decrease) in advances received on construction
contracts in progress

(655)

486

Increase (decrease) in deposits received
Other, net

(103)
199

(75)
66

(2,879)

3,038

60
(5)

51
(3)

(266)

(1,126)(3,091)

1,960

Purchase of property, plant and equipment
Purchase of intangible assets

(85)
(57)

(77)
(35)

Purchase of investment securities
Proceeds from sale of investment securities(1,502)
1,692

(2)
5

Loan advances
Proceeds from collection of loans receivable

(6)
5(2)
4

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

(22)
5(27)
9

Payments into time deposits
Proceeds from withdrawal of time deposits(400)
401(400)
400

Other, net(22)57(122)

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

SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities

Net cash provided by (used in) investing activities

10

(Millions of yen)
Fiscal year ended

Fiscal year ended

March 31, 2021

March 31, 2022

Cash flows from financing activities
Proceeds from long-term borrowings–150

Repayments of long-term borrowings
Dividends paid

(261)
(417)

(252)
(415)

Other, net

(27)

(18)

(706)

(535)

Net increase (decrease) in cash and cash equivalents

Net cash provided by (used in) financing activities(3,790)

1,302

Cash and cash equivalents at beginning of period

9,807

6,017

Cash and cash equivalents at end of period

6,017

7,320

11