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, 2024
(Based on Japanese GAAP)May 8, 2024
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 21, 2024

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

June 21, 2024
June 4, 2024

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, 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results
Net salesYear ended March 31, 2024Year ended March 31, 2023

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen%
1,590(15.7)
1,602(17.4)
1,235(6.5)
1,887(30.3)
1,939(28.5)
1,321(27.3)

Millions of yen
77,81571,834%8.3
3.1

Earnings per share

Diluted earnings pershare

Profit attributable toOrdinary profit/total Operating profit/net
owners ofassetssales
parent/equity
Yen%%%
118.78
5.6
3.1
2.0–
6.3
4.1
2.6

Yen119.20
126.24

Year ended March 31, 2024
Year ended March 31, 2023
(2) Consolidated financial position

Total assets
As of March 31, 2024
As of March 31, 2023

Net assets

Equity ratio

Millions of yen
59,10745,625

Millions of yen
22,551
21,536

Cash flows fromoperating activities
Millions of yen(1,919)4,192

Cash flows frominvesting activities
Millions of yen(2,992)(516)

Net assets per share%
38.2
47.2

Yen
2,190.88
2,055.58(3) Consolidated cash flows

Year ended March 31, 2024
Year ended March 31, 2023

Cash flows from
Cash and cash equivalents
at end of period
financing activities
Millions of yen
Millions of yen
3,701
8,775
(1,009)9,986

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

Year ended March 31, 2023
Year ended March 31, 2024
Year ending March 31, 2025
(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

%

%

––

30.00
35.00

––

34.00
35.00

64.00
70.00

670725

50.7
58.7

3.2
3.3

–

44.50

–

44.50

89.00

154.3

3. Forecast of consolidated financial results for the year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)
Net sales
Millions of yen
Six months ending
September 30, 2024
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

39,200

8.1

790

237.8

800

195.8

510

84.1

49.21

83,900

7.8

2,600

63.5

2,580

61.0

1,700

37.6

164.05

4. Notes(1) Changes in significant subsidiaries during the year ended March 31, 2024
(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, 2024

10,614,225 shares As of March 31, 2023

10,614,225 shares

Number of treasury shares at the end of the period
As of March 31, 2024

320,978 shares As of March 31, 2023

137,131 shares

10,362,866 shares Year ended March 31, 2023

10,465,139 shares

Average number of shares during the period
Year ended March 31, 20242

Consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of March 31, 2024

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

10,186

8,775

25,46436,217

1,936

2,464

506
1,068

23
771

365
(3)

406
(2)

39,52348,655

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

1,299
653

1,362
1,282

Land
Accumulated depreciation

1,205(1,087)

1,411(1,466)

Total property, plant and equipment

2,072

2,589

–

1,251

technology asset
Software–
241

1,901
175

Software in progress
Other–
23

518
23

Total intangible assets

265

3,870

Investments and other assets
Investment securities

2,166

2,728

Long-term loans receivable
Deferred tax assets

26498

2532

Retirement benefit asset
Other725
347

894
311

Allowance for doubtful accounts

(0)

(0)

Total investments and other assets

3,764

3,991

6,101

10,451

45,625

59,107

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

Intangible assets
Goodwill

Total non-current assets
Total assets3

(Millions of yen)
As of March 31, 2023

As of March 31, 2024

Liabilities
Current liabilities
Accounts payable for construction contracts

8,205

10,147

9,663
100

16,276
1,300

83
79

369
378

1,461
743

639
479

283
107

325
0

Other

1,255

932

Total current liabilities

21,98230,848

19
–

3,004
594

2,015
41

1,974
89

29

44

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

Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Retirement benefit liability
Provision for share awards
OtherTotal non-current liabilities

2,105

5,707

24,08836,556

Share capital
Capital surplus

4,324
35

4,324
241

Retained earnings
Treasury shares

16,582(143)

17,095(366)

Total shareholders' equity

20,79821,295782

1,163

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans(45)91

Total accumulated other comprehensive income

737

1,255

Share acquisition rights
Total net assets
Total liabilities and net assets

4–0

21,53622,551

45,625

59,107

Consolidated statements of income and consolidated statements of comprehensive income
Consolidated statements of income(Millions of yen)
Fiscal year ended
March 31, 2023

Fiscal year ended
March 31, 2024

Net sales
Net sales of completed construction contracts
Net sales in real estate business and other71,054
780

76,453
1,361Total net sales

71,83477,81565,821

71,561

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

628

606

66,45072,168Gross profit on completed construction contracts
Gross profit on real estate business and other

5,232
152

4,891
755

Total gross profit

5,384

5,646

Selling, general and administrative expenses

3,497

4,056

Operating profit

1,887

1,590

Interest income
Dividend income

673

288

Other

1226

Total non-operating income

92117

Interest expenses
Commission expenses

331

1578

Other

510Total cost of sales
Gross profit

Non-operating income

Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets

40105

1,939

1,602–

2

Gain on sale of investment securities–299

Total extraordinary income–302–
80–

Extraordinary losses
Loss on sale of non-current assets
Loss on sale of investment securities

80Profit before income taxes

Total extraordinary losses

1,930

1,904

Income taxes - current
Income taxes - deferred487
12257396

Total income taxes

6096691,321

1,235–

–

1,321

1,235

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, 2023

March 31, 2024
1,321

1,235

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

318
6380
136

Total other comprehensive income

324

517

1,645

1,752

1,645

1,752

–

–

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, 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)

Profit attributable to owners of parent

1,321

(733)
1,321

Purchase of treasury shares
Disposal of treasury shares30(102)

(102)

6798

Net changes in items other than shareholders' equity
Total changes during period
Balance at end of period–30587

(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
income464(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 shares

98
318

6324324

Total changes during period

Net changes in items other than shareholders' equity

318

6

324

906

Balance at end of period782(45)

737

21,536

7

Fiscal year ended March 31, 2024
(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of period

4,324

Capital surplus

Retained earnings

Treasury shares

35

16,582

(143)

Total
shareholders'equity
20,798Changes during period
Dividends of surplus

(722)

(722)

Profit attributable to owners of parent

1,235

1,235

Purchase of treasury shares
Disposal of treasury shares206(1,179)(1,179)

956

1,163

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

206

512(222)

496

4,324

241

17,095(366)21,295

Accumulated other comprehensive income
Valuation
Total accumulated
Share acquisition
Remeasurements
difference onotherrights
of defined benefit
available-for-salecomprehensive
plans
securities
incomeBalance at beginning of period

782

(45)

737

–

Total net assets

21,536

Changes during period
Dividends of surplus(722)

Profit attributable to owners of parent

1,235

Purchase of treasury shares(1,179)

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

1,163380

136

380
1,163

8517

0518

136

517

0

1,014

91

1,255

0

22,551

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, 2023

March 31, 2024
1,930

1,904

Depreciation
Amortization of goodwill

122–247
65

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

(6)
(52)

(1)
(40)

Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for warranties for completed

(31)

27

54(264)

construction
Increase (decrease) in provision for bonuses

(1)

34

Increase (decrease) in provision for loss on construction
contracts

(224)

(107)

Interest and dividend income
Interest expenses

(86)
3(99)
15

6,493

(11,165)

(97)

300

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–483(2,462)

8,554

(392)

(822)

43(529)Other, net

(136)

(216)

Subtotal

5,155(1,611)

Interest and dividends received

86

99Interest paid
Income taxes paid

(3)
(1,046)

(17)
(389)

Net cash provided by (used in) operating activities

4,192(1,919)

(523)

(286)

Purchase of intangible assets
Purchase of investment securities

(136)
(103)

(446)
(3)

Proceeds from sale of investment securities
Loan advances200(2)

399(2)

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

4(1)

3(0)

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

46(400)8(200)

Proceeds from withdrawal of time deposits
Purchase of shares of subsidiaries resulting in change in scope

400

400–(2,770)

Cash flows from investing activities
Purchase of property, plant and equipmentof consolidation
Other, net
Net cash provided by (used in) investing activities

9(0)

(93)

(516)

(2,992)

(Millions of yen)

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

Fiscal year ended

Fiscal year ended

March 31, 2023

March 31, 2024
–

1,200

Proceeds from long-term borrowings
Repayments of long-term borrowings–(176)

3,500
(228)

Purchase of treasury shares
Proceeds from disposal of treasury shares from exercise of(102)(1,215)

–

1,158

(727)

(716)

share acquisition rights
Dividends paid
Other, net(3)

3(1,009)

3,701

Net increase (decrease) in cash and cash equivalents

2,666(1,210)Cash and cash equivalents at beginning of period

7,320

9,986

Cash and cash equivalents at end of period

9,986

8,775

Net cash provided by (used in) financing activities

10