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 Nine Months Ended December 31, 2022
(Based on Japanese GAAP)
February 3, 2023
Company name:
DAISUE CONSTRUCTION CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

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

Inquiries:

General Manager of General Affairs
Department

Yasumi Iwata

TEL

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

February 3, 2023–

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

06-6121-7121(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)(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%
Nine months ended December 31, 2022
55,1798.2
1,404 (28.5)
1,462 (26.0)
1,003 (25.6)
Nine months ended December 31, 2021
51,005
22.5
1,964
30.5
1,974
29.8
1,347
18.4
Earnings per share

Diluted earnings per share

Yen
95.90
128.54

Nine months ended December 31, 2022
Nine months ended December 31, 2021

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
50,69848,662As of December 31, 2022
As of March 31, 2022

Equity ratio

Millions of yen
21,086
20,629

%
41.6
42.4

2. Cash dividends
Annual dividends per share

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

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
20.00
30.00

Yen––

Yen
40.00

Yen
60.00

30.00

60.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Full year

Millions of yen
70,900Percentages 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
1.8
1,500 (44.6)
1,540 (43.2)
1,020 (43.8)
97.57

1

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 2022
(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:

No(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 December 31, 2022

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 December 31, 2022

135,474 shares As of March 31, 2022

132,019 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2022

10,461,383 shares Nine months ended December 31, 2021

2

10,486,086 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of December 31, 2022

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

7,520

6,954

29,30432,828

4,589

3,549

Real estate for sale
Costs on construction contracts in progress

506
970

506
678

Other
Allowance for doubtful accounts

294
(9)

537
(3)

43,17645,051

952
708

952
682

construction contracts, and contract assets
Electronically recorded monetary claims - operating

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

1,661

1,635

Intangible assets
Investments and other assets

Total property, plant and equipment

134

146

Investment securities
Other

1,8361,853

2,208
1,656

Allowance for doubtful accounts

(0)

(0)

Total investments and other assets

3,689

3,865

Total non-current assets

5,485

5,647

48,662

50,6989,186
11,144

7,372
14,330

100
176

1,600
108

660
1,853

1
1,517

689
285

923
77

Provision for loss on construction contracts
Other

332
1,364

63
1,404

Total current liabilities

25,792

27,399Total 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

Non-current liabilities
Long-term borrowings
Retirement benefit liability
Provision for share awards
Other
Total non-current liabilities
Total liabilities

3102

31

2,115
–

2,119
32

21

28

2,240

2,212

28,032

29,611

(Millions of yen)
As of March 31, 2022

As of December 31, 2022

Net assets
Shareholders' equity
Share capital

4,324

4,324

Capital surplus
Retained earnings

415,995

35
16,264

Treasury shares

(108)

(143)

20,215

20,481

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

464
(51)

652
(47)

Total accumulated other comprehensive income

413

605

20,62921,086

48,662

50,698

Total shareholders' equity
Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

Net sales
Net sales of completed construction contracts

50,35954,590Net sales in real estate business and other

646

589

51,00555,179

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

46,084477

50,692447

Total cost of sales

46,561

51,139

4,274

3,898

Total net sales
Cost of sales

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

168

142

4,443

4,040

Selling, general and administrative expenses

2,479

2,636

Operating profit

1,964

1,404

Non-operating income
Interest income

55

Dividend income
Other

46
573
7

Total non-operating income

57

86

Total gross profit

Non-operating expenses
Interest expenses

21

Commission expenses
Other

32
1223
3

Total non-operating expenses

47

28

1,974

1,462

Loss on retirement of non-current assets

2–

Total extraordinary losses

2–

1,972

1,462

630

308

Income taxes - deferred

(6)

150

Total income taxes

624

459

1,347

1,003––

1,347

1,003

Ordinary profit
Extraordinary losses

Profit before income taxes
Income taxes - current

ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Nine months ended

Nine months ended

December 31, 2021

December 31, 2022

1,347

1,003

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

115187
3

Total other comprehensive income

17191

1,365

1,194

1,365

1,194––

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests6