Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Three Months Ended June 30, 2022
[Japanese GAAP]
August 09, 2022
Company name: TOKYU CONSTRUCTION CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 1720
URL: https://www.tokyu-cnst.co.jp/
Representative: Mitsuhiro Terada, Representative Director, President
Contact: Atsutomo Koike, General Manager, Finance DepartmentPhone: +81-3-5466-5061
Scheduled date of filing quarterly securities report: August 10, 2022
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 01, 2022 to June 30, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%Three months ended
June 30, 2022
61,468
9.1
(517)
(186)
(340)
June 30, 2021
56,333
32.0
(67)
(116)
(267)
(Note) Comprehensive income:Three months ended June 30, 2022:¥
480 million [-%]
Three months ended June 30, 2021:¥(946) million [-%]
Basic earnings
per share
Three months ended
June 30, 2022
June 30, 2021

Diluted earnings pershare
YenYen(3.25)(2.55)-(2) Consolidated Financial Position
Total assets
As ofJune 30, 2022
March 31, 2022
(Reference) Equity:

Net assets

Million yen

Capital adequacy ratio

Million yen

229,756
237,811
As of June 30, 2022:
As of March 31, 2022:¥¥%

93,07593,064
92,470 million
92,490 million

40.2
38.9

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen-

20.00

-

5.00

25.00

Fiscal year ending March 31, 2023
18.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No-

18.00

36.00Fiscal year ended March 31, 2022
Fiscal year ending March 31, 2023

Year-endTotal

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings per
Net sales
Operating profit
Ordinary profit
owners of parent
shareMillion yen

Full year

289,000% Million yen

12.0

4,000

% Million yen% Million yen%Yen---

33.42(Note) Revision to the financial results forecast announced most recently:

4,500

3,500No* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:Exclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2022:
106,761,205 shares
March 31, 2022:
106,761,205 shares2) Total number of treasury shares at the end of the period:
June 30, 2022:
1,944,585 shares
March 31, 2022:
2,029,142 shares
3) Average number of shares during the period:
Three months ended June 30, 2022:
104,757,957 shares
Three months ended June 30, 2021:
104,648,706 shares
Note:The number of treasury shares at end of each period includes the shares of the company owned by BIP trust and Employee
Stock Ownership plan trust. BIP trust and Employee Stock Ownership plan trust are included in the number of treasury
shares deducted in the calculation of average number of shares outstanding during the period (Three months ended June 30,2022). BIP trust are included in the number of treasury shares deducted in the calculation of average number of shares
outstanding during the period (Three months ended June 30, 2021).
*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an auditcorporation.
* Explanation of the proper use of financial results forecast and other notes.
The statements regarding forecast of financial results in this report are based on the information that is available to the Company,
as well as certain assumptions that are deemed to be reasonable by management, and they are not meant to be a commitment by
the Company. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors.

TOKYU CONSTRUCTION CO.,LTD.

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Million yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Costs on construction contracts in progress
Costs on real estate business
Real estate for sale
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assetsOther
Allowance for doubtful accounts
Total investments and other assets
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
Income taxes payable
Advances received on construction contracts inprogress
Deposits received - real estate business
Provision for warranties for completedconstruction
Provision for loss on construction contracts
Provision for bonuses
Provision for losses on sales of shares ofsubsidiaries and associates
Deposits received
OtherTotal current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for share awards for directors (and otherofficers)
Provision for loss on real estate business and other
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

As of June 30,2022

38,64853,636

115,860

97,060

6,981
2
3,801
53
8,695
(78)
173,963

5,812
6
3,789
63
5,334
(69)
165,634

29,675
1,390

29,314
1,417

30,171
26
130
2,453
(0)
32,782
63,847
237,81130,6599303
2,417(0)33,39064,122229,756

48,69938,116

14,13197
1,651

14,55099
630

14,53615,120

37

27

6,625

6,997

8,777
2,047

9,697
3,064

105

-

16,566
1,730
115,004

17,713
1,311
107,312

22,334141

22,288
-

46

27

5,139
697
1,383
29,742
144,747

5,054
692
1,305
29,367
136,680

TOKYU CONSTRUCTION CO.,LTD.

(Million yen)
As of March 31,2022
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

As of June 30,2022

16,354
4,089
67,309(1,282)86,471

16,3544,090
66,438(1,220)85,662

6,087

6,589

11(80)
6,018
574
93,064
237,811

247
(28)
6,808
604
93,075
229,756

TOKYU CONSTRUCTION CO.,LTD.

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Million yen)
For the three months
ended June 30,2021
Net sales
Net sales of completed construction contracts
Net sales in real estate business and otherTotal net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in real estate business and otherTotal cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit on real estate business and otherTotal gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary loss
Extraordinary losses
Loss on valuation of investment securities
Total extraordinary losses
Loss before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Loss
Profit attributable to non-controlling interests
Loss attributable to owners of parent

For the three months
ended June 30,2022

55,721
612
56,33360,840
627
61,46852,229368
52,59857,764335
58,100

3,492
243
3,735
3,802(67)

3,076
291
3,368
3,885(517)

5101-

3104
384

65-

63
235

32
525

35
224

29--

61

25
284(116)103
194(186)37
37(153)545(445)
99(253)14(267)(186)
652(522)129(316)
23(340)TOKYU CONSTRUCTION CO.,LTD.

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Million yen)
For the three months
ended June 30,2021
Loss
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the three months
ended June 30,2022
(253)

(316)

(985)
838

461
104
45

245

184

(693)
(946)

796
480

(958)

449

1130