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 Six Months Ended June 30, 2019
(Based on Japanese GAAP)
August 1, 2019
Company name:
EBARA JITSUGYO CO., LTD.
Stock exchange listing: Tokyo
Stock code:
Representative:

6328
URL https://www.ejk.co.jp/Chairman & President

Inquiries:

Senior Corporate Officer, Head of Corporate
SHUJI OHNOPlanning & Strategy Office

HISASHI SUZUKI
TELScheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

August 7, 2019
September 6, 2019

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

Yes
Yes

03-5565-2885(for the press and analysts)(Amounts less than one million yen are rounded down)

1. Consolidated financial results for the six months ended June 30, 2019 (from January 1, 2019 to June 30, 2019)(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%
Six months ended June 30, 201915,652(2.7)
1,551 (11.3)
1,631(9.4)
1,147(9.2)
Six months ended June 30, 201816,081
11.7
1,749
24.9
1,800
22.6
1,264
20.4
Earnings per share

Diluted earnings per share

Yen
174.11189.08Six months ended June 30, 2019
Six months ended June 30, 2018

Yen––(2) Consolidated financial position
Total assetsNet assets

Millions of yen
28,553
26,584As of June 30, 2019
As of December 31, 2018

Equity ratio

Millions of yen
13,90912,520%48.7
47.1

2. Cash dividends
Annual dividends per share

Year ended December 31, 2018Year ending December 31, 2019

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
25.00
30.00

Yen–

Yen
35.00

Yen
60.00

–

30.00

60.00

Year ending December 31, 2019 (Forecast)Total

3. Forecast of consolidated financial results for the year ending December 31, 2019 (from January 1, 2019 to December 31, 2019)
Net sales
Full year

Millions of yen
29,000Percentages 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
(1.0)
2,180
1.9
2,310
2.6
1,650
3.1
250.3014. Notes(1) Changes in significant subsidiaries during the six months ended June 30, 2019(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 June 30, 2019

6,715,000 shares As of December 31, 20186,715,000 shares

122,867 shares As of December 31, 2018

122,867 shares

Number of treasury shares at the end of the period
As of June 30, 2019

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended June 30, 2019

6,592,133 shares Six months ended June 30, 2018

2

6,685,600 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of December 31, 2018

As of June 30, 2019

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade

6,170
10,486

11,318
6,872

Merchandise and finished goods
Work in process

779
217

612241

Costs on uncompleted construction contracts
Raw materials and supplies

592
212

436
218

OtherAllowance for doubtful accounts

96(1)

357
(1)

18,55320,055

3,170(1,675)

3,170(1,721)

Buildings and structures, net

1,494

1,448

Machinery, equipment and vehicles
Accumulated depreciation

147(94)180(97)

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation

Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Other
Accumulated depreciation
Other, net

5383612(500)621(519)

111

101

1,360
3

1,360
3(3)

(3)

0–

3,020

2,994

Intangible assets
Investments and other assets

78

113

Investment securities
Insurance funds

3,160
933

3,846
716

Real estate for investment, net
Deferred tax assets

692
12686
11

Other
Allowance for doubtful accounts

240(107)

235
(107)

Total investments and other assets

4,931

5,390

Total property, plant and equipment

Total non-current assets
Total assets

38,031

8,497

26,58428,553

(Millions of yen)
As of December 31, 2018

As of June 30, 2019

Liabilities
Current liabilities
Notes and accounts payable - trade

9,454

10,085

Short-term loans payable
Income taxes payable

1,090
443

1,090
517

Accrued consumption taxes
Advances received

152
1,391

208
1,028

115
628

115
588

Total current liabilities

13,276

13,634Non-current liabilities
Deferred tax liabilities

Provision for loss on construction contracts
Other417

619

Provision for directors' retirement benefits
Net defined benefit liability

158
139

158
156

Other72

74

Total non-current liabilities

787

1,009

14,064

14,643

Capital stock
Capital surplus

1,001
831

1,001
831

Retained earnings
Treasury shares

9,912(291)

10,829(291)

Total shareholders' equity

11,454

12,371

1,138

1,601

Total liabilities
Net assets
Shareholders' equity

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 assets

4(72)

(63)

1,066

1,538

12,52013,90926,58428,553

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

Six months ended

June 30, 2018

June 30, 2019

Net sales
Cost of sales

16,081
11,655

15,652
11,395Gross profit

4,425

4,256

Selling, general and administrative expenses

2,676

2,705

Operating profit

1,749

1,551

Interest income
Dividend income

032

144

Rent of real estate for investmentOther

47
1448
18

Total non-operating income

94

113

44Rent expenses on real estates
Loss on insurance cancellation

1915

18
9

Other

30

Non-operating income

Non-operating expenses
Interest expenses

4333

Ordinary profit

Total non-operating expenses

1,800

1,631

Profit before income taxes

1,800

1,631

Income taxes - current
Income taxes - deferred

525
10487
(4)

Total income taxes

536

483

Profit

1,264

1,147

Profit attributable to owners of parent

1,264

1,147

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Six months ended

Six months ended

June 30, 2018

June 30, 2019
1,264

1,147

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

(341)
11463
8

Total other comprehensive income

(329)

471

934

1,619

934

1,619

––

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

6Consolidated statements of cash flows(Millions of yen)

Cash flows from operating activitiesProfit before income taxes

Six months ended

Six months ended

June 30, 2018

June 30, 2019
1,800

1,631

Depreciation
Increase (decrease) in allowance for doubtful accounts

89(0)

88(0)

Increase (decrease) in provision for loss on construction
contracts

(0)

–33

29(28)

–(33)

(45)

415

4(6)

Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories

1,317
164

3,614
292

Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in advances received

1,800(207)

631(362)

Decrease/increase in consumption taxes receivable/payable
Other, net

212
57455(70)

5,740

5,860

32(4)

45(4)

Income taxes paid(358)(417)

Net cash provided by (used in) operating activities

5,409

5,484

Net decrease (increase) in forced deposits
Purchase of property, plant and equipment

(134)
(143)

(132)
(61)

Purchase of intangible assets
Purchase of investment securities

(22)
(121)

(46)
(18)

Proceeds from sales and redemption of investment securities
Proceeds from cancellation of insurance funds

100122030

Increase (decrease) in net defined benefit liability
Increase (decrease) in provision for directors' retirement
benefits
Interest and dividend income
Interest expenses
Loss (gain) on cancellation of insurance contract

SubtotalInterest and dividend income received
Interest expenses paid

Cash flows from investing activities

Other, net

(18)

(9)

Net cash provided by (used in) investing activities

(215)

(237)

(184)
(278)

(230)
–(0)

(0)

Cash flows from financing activities
Cash dividends paid
Purchase of treasury shares
Other, net

(463)

(231)

Net increase (decrease) in cash and cash equivalents

Net cash provided by (used in) financing activities

4,730

5,015

Cash and cash equivalents at beginning of period

3,760

6,165

Cash and cash equivalents at end of period

8,491

11,1807