Translation
Notice: This document is a 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.

Consolidated Financial Results
for the Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 10, 2022
Company name:

INFRONEER Holdings Inc.

Stock exchange listing: Tokyo
Stock code:
5076
Representative:

URL

https://www.infroneer.com

Representative Executive Officer andPresident

Kazunari Kibe

Inquiries:
General Manager of Financial Strategy
Scheduled date to file Quarterly Securities Report:

Kazutaka Deguchi
August 10, 2022

TEL

03-6380-8253

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–
No

Holding of quarterly financial results meeting:Yes (for institutional investors and analysts)(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2022
Three months ended June 30, 2021
(Note) Comprehensive income:Millions of yen
149,624–

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
–
7,362
–
8,454
–
5,309
–
–
–
–
–
–
–
–

Three months ended June 30, 2022: ¥7,835 million [–%]
Three months ended June 30, 2021: ¥– million [–%]
Earnings per share

Diluted earnings per share

Yen
20.20
–

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen
–
–

(Note) The Company was established by joint share transfer on October 1, 2021; therefore, there are no year-on-year quarterly results.
(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022

Net assets

Millions of yen
850,426
926,432

Equity ratio

Millions of yen
350,923
355,865

%
40.2
37.4

(Reference) Equity: As of June 30, 2022: ¥341,810 million
As of March 31, 2022: ¥346,911 million
2. Cash dividends
Annual dividends per share
1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen

Yen

Yen

Yen

–

–

40.00

40.00

–

–

40.00

40.00

Yen

Fiscal year ended March 31, 2022–
Fiscal year ending March 31, 2023–
Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast of dividends announced most recently: No

1

Total

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Full year
730,600
7.0
42,60013.6
43,50014.4
32,40021.4
123.26(Note) Revision to the forecast of consolidated financial results announced most recently: No* Notes(1) Changes in significant subsidiaries during the three months ended June 30, 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
1) Changes in accounting policies due to revisions to accounting standards and other regulations:Yes2) Changes in accounting policies due to other reasons:3) Changes in accounting estimates:

NoNo4) Restatement of prior period financial statements:
No(Note) Please refer to “(Changes to accounting policies)” of “2. (3) Notes to Quarterly Consolidated Financial Statements” on page 10 for
details.
(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

274,845,024 shares As of March 31, 2022

291,070,502 shares

2) Number of treasury shares at the end of the period
As of June 30, 2022

12,425,611 shares As of March 31, 2022

26,694,724 shares

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

262,848,458 shares Three months ended June 30, 2021

– shares(Notes) 1. The Company’s shares held by the Stock Benefit Trust Disposition-type Employee Stock Ownership Plan Trust are included in
the number of treasury shares at the end of the period (4,033,600 shares at the end of the three months ended June 30, 2022,
and 4,221,300 shares at the end of the fiscal year ended March 31, 2022). The Company’s shares held by the Stock Benefit
Trust Disposition-type Employee Stock Ownership Plan Trust are included in the number of treasury shares deducted in thecalculation of the average number of shares during the period (4,140,800 shares at the end of the three months ended June 30,
2022, and 324,715 shares at the end of the fiscal year ended March 31, 2022).
2. The Company’s shares held by Board Benefit Trust (BBT) are included in the number of treasury shares at the end of the period(657,500 shares at the end of the three months ended June 30, 2022, and 657,500 shares at the end of the fiscal year ended
March 31, 2022). The Company’s shares held by Board Benefit Trust (BBT) are included in the number of treasury sharesdeducted in the calculation of the average number of shares during the period (657,500 shares at the end of the three months
ended June 30, 2022, and 657,500 shares at the end of the fiscal year ended March 31, 2022).
* These quarterly financial results are outside the scope of quarterly review by certified public accountants or audit corporations.
* Explanation of the proper use of performance forecast and other notes The above forecasts are based on assumptions in light of information available as of the date of announcement of this material and factors of
uncertainty that may possibly impact the future results of operation. These statements do not indicate that the Company pledges to realize
these forecasts. Actual results may differ significantly from those presented herein as a result of numerous factors.

2

○ Table of Contents

1. Qualitative Information on Quarterly Financial Results ............................................................................................. 4(1) Explanation of Operating Results ............................................................................................................................ 4(2) Explanation of Financial Position ............................................................................................................................ 4(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information ...................... 5
2. Quarterly Consolidated Financial Statements and Primary Notes .............................................................................. 6(1) Quarterly Consolidated Balance Sheet.................................................................................................................... 6(2) Quarterly Consolidated Statement of Income and Comprehensive Income ........................................................... 8(3) Notes to Quarterly Consolidated Financial Statements ......................................................................................... 10(Notes on going concern assumption) ............................................................................................................. 10(Notes in the case of significant changes in amount of shareholders’ equity) ................................................. 10(Changes in scope of consolidation and application of equity method) .......................................................... 10(Changes to accounting policies) .................................................................................................................... 10(Additional information) ................................................................................................................................. 10(Segment information) .................................................................................................................................... 12(Significant subsequent event) ........................................................................................................................ 12
3. Supplementary Information ....................................................................................................................................... 13(1) (Building Construction Segment) Classified by Public and Private: Orders Received, Net Sales and Backlog .. 13(2) (Civil Engineering Segment) Classified by Public and Private: Orders Received, Net Sales and Backlog ......... 13(3) (Road Civil Engineering Segment) Classified by Type: Orders Received, Net Sales and Backlog ..................... 14(4) Summary of Forecast of Consolidated Financial Results ..................................................................................... 15(Reference) Maeda Corporation: Supplementary Information ................................................................................... 16

3

1. Qualitative Information on Quarterly Financial Results
The Company was established on October 1, 2021, as a wholly-owning parent company of Maeda Corporation, Maeda
Road Construction Co., Ltd. and Maeda Seisakusho Co., Ltd. by means of a joint share transfer. Therefore, no comparison
with the first quarter of the fiscal year ended March 31, 2022 has been done.

(1) Explanation of Operating Results
During the three months ended June 30, 2022, the Japanese economy generally showed signs of recovery in corporate
production activities, employment, and personal consumption, as moves toward normalization of economic and social
activities gained momentum amid progress in measures related to the novel coronavirus infection (COVID-19), despite
concerns about the prolonged situation in Ukraine and the impact of restrained economic activities in China.
In the construction industry, public investment and housing construction remained firm, and capital investment
showed signs of picking up on the back of improved corporate earnings and other factors.
Under these circumstances, with the objective of the entire group achieving sustained growth under the Company, theCompany will strive to be a “company trusted by all stakeholders” by determining to aim for the mid- to long-term stateof being an “integrated infrastructure service company” with one-stop style management from upstream to downstream of
infrastructure operations, establishing a “highly profitable and stable revenue base” without being influenced by external
factors, operating expeditiously and appropriately, such as by building an effective governance structure and promoting
digital transformation, and strengthening the ability to deal with social changes.
For the three months ended June 30, 2022, net sales were about ¥149.6 billion. For profit and loss, operating profit
was about ¥7.3 billion, ordinary profit was about ¥8.4 billion, and profit attributable to owners of parent was about ¥5.3
billion.
Performance results by business segment are as follows.
[Building Construction]
In the building construction business, net sales were about ¥39.4 billion and segment loss was about ¥0.5 billion.
[Civil Engineering]
In the civil engineering business, net sales were about ¥31.3 billion and segment profit was about ¥1.7 billion.
[Road Civil Engineering]
In the road civil engineering business, net sales were about ¥50.6 billion and segment loss was about ¥1.5 billion.
[Machinery]In the machinery business, net sales were about ¥8.1 billion and segment profit was around ¥0.1 billion.
[Infrastructure Management]
In the infrastructure management business, net sales were about ¥10.7 billion and segment profit was about ¥7.2
billion.
[Others]
In the others business segment, net sales were about ¥9.3 billion and segment profit was about ¥0.1 billion.

(2) Explanation of Financial Position
Total assets as of June 30, 2022 were about ¥850.4 billion, down roughly ¥76.0 billion compared to the previous fiscal
year, mainly due to a decrease in notes receivable and accounts receivable from completed construction contracts.
Liabilities stood at around ¥499.5 billion, a decrease of about ¥71.0 billion compared to the previous fiscal year, mainly
due to a decrease in short-term borrowings. Net assets amounted to about ¥350.9 billion, down roughly ¥4.9 billion. As aresult of the above, equity, which is net assets minus non-controlling interests, amounted to about ¥341.8 billion, and theequity ratio increased from 37.4% in the previous fiscal year to 40.2%.

4

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information
There is no change from the financial results forecast announced at the time of the financial results announcement on
May 13, 2022.

5

2. Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheet(Millions of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and deposits

78,03598,432

310,801

213,500

Securities
Real estate for sale

30
1,987

30
1,894

Merchandise and finished goods
Costs on construction contracts in progress

1,573
13,698

1,432
23,324

Raw materials and supplies
Other

3,444
43,1493,905
36,053

(117)

(125)

452,602378,447

163,578

157,373

109,721108,939

24,122

28,252

19,891

18,208Notes receivable, accounts receivable from completed
construction contracts and other

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Right to operate public facilities
Assets related to replacement investment to operate
public facilities
Goodwill
Other

14,988

14,532

Total intangible assets

168,724

169,932

Investment securities
Deferred tax assets

120,123840

122,558
1,045

Retirement benefit asset
Other

14,907
5,994

15,4146,001

Investments and other assets

Allowance for doubtful accounts

(402)

(377)

Total investments and other assets

141,464

144,643

473,767

471,94962

29

926,432

850,426

Total non-current assets
Deferred assets
Total assets

6

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Electronically recorded obligations - operating

6,933

16,492

Account payable for works in progress and other
Short-term borrowings

110,997
84,49285,276
29,619Current portion of non-recourse loans
Income taxes payable

1,194
10,896845
4,056

Advances received on construction contracts in progress
Provision for loss on construction contracts

34,862836

46,177855

Other provisions
Liabilities related to right to operate public facilities

10,132
4,555

4,687
4,610

Liabilities related to replacement investment to operate
public facilities

1,016

577

Other

33,31937,797

Total current liabilities

299,236

230,997

Bonds payable
Long-term borrowings

45,00052,85145,00050,213

Non-recourse loans
Deferred tax liabilities

9,947
14,305

4,816
14,705Retirement benefit liability
Liabilities related to right to operate public facilities

16,767
103,843

16,900104,203

Liabilities related to replacement investment to operate
public facilities

24,58828,955

Non-current liabilities

Other

4,025

3,710

271,330

268,505

570,566

499,503

Shareholders' equity
Share capital

20,00020,000Capital surplus
Retained earnings

134,117
198,273

106,458
203,567

Treasury shares(24,342)(9,212)

Total shareholders' equity

328,048

320,813

18,275
3

20,427
8

(95)
680

(223)
784

18,86320,996

8,953

9,112

355,865

350,923

926,432

850,426

Total non-current liabilities
Total liabilities
Net assets

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
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

7

(2) Quarterly Consolidated Statement of Income and Comprehensive Income
Quarterly consolidated statement of income
Three months ended June 30, 2022
(Millions of yen)Three months ended
June 30, 2022
Net sales
Net sales of completed construction contracts
Sales in other businesses

78,59871,025

Total net sales

149,624

Cost of sales
Cost of sales of completed construction contracts

70,195

Cost of sales in other businesses

58,182

Total cost of sales

128,378

Gross profit
Gross profit on completed construction contracts
Gross profit - other business

8,402
12,842

Total gross profit

21,245

Selling, general and administrative expenses

13,883Operating profit

7,362

Non-operating income
Interest income

42

Dividend income
Foreign exchange gains

1,034
712

Share of profit of entities accounted for using equity method
Other

152
64

Total non-operating income

2,006

Non-operating expenses
Interest expenses

567

Commission expenses
Other

244
102

Total non-operating expenses

914

Ordinary profit

8,454

Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities

17
231

Other

35

Total extraordinary income

284

Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities

23
177

Other

8

Total extraordinary losses

209

Profit before income taxes

8,529

Income taxes - current
Income taxes - deferred

3,482
(630)

Total income taxes

2,851

Profit5,677

Profit attributable to non-controlling interests

368

Profit attributable to owners of parent

5,309

8

Quarterly consolidated statement of comprehensive income
Three months ended June 30, 2022
(Millions of yen)Three months ended
June 30, 2022
Profit5,677

Other comprehensive income
Valuation difference on available-for-sale securities

2,155

Deferred gains or losses on hedges
Foreign currency translation adjustment

10
(113)

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted

97
6

for using equity method
Total other comprehensive income

2,157

Comprehensive income

7,835

Comprehensive income attributable toComprehensive income attributable to owners of parent

7,442

Comprehensive income attributable to non-controllinginterests393

9

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in the case of significant changes in amount of shareholders’ equity)
Not applicable.
(Changes in scope of consolidation and application of equity method)
Significant changes in scope of consolidation
From the first quarter of the current fiscal year, the newly established MAEDA AMERICA Inc. and INFRONEER Digital
Solutions Inc., as well as Mio Tsukushi Industrial Water Concession Co., the importance of which increased, were includedin the scope of consolidation.
Aoisangyo CO.,Ltd, which was a consolidated subsidiary, was excluded from the scope of consolidation from the firstquarter of the current fiscal year because it was dissolved in an absorption-type merger with a consolidated subsidiary
Aonokensetsu CO.,Ltd
In addition, consolidated subsidiary Anonymous Association Happo Wind Development, was excluded from the scope of
consolidation from the first quarter of the current fiscal year due to the sale of the equity interest in the anonymous association
it held.
(Changes to accounting policies)
Application of Guidance on Accounting Standard for Fair Value Measurement, etc.
The “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, June17, 2021; hereinafter the “Fair Value Measurement Guidance”) has been applied from April 1, 2022, and the new
accounting policies prescribed by the Fair Value Measurement Guidance will be prospectively applied in accordance withthe transitional treatment prescribed in Paragraph 27-2 of the Fair Value Measurement Guidance. The application of the
Fair Value Measurement Guidance has no effect on the quarterly consolidated financial statements.
(Additional information)
Transactions to offer the Company’s shares to employees, etc. through trust(1) Stock Benefit Trust Disposition-type Employee Stock Ownership Plan
The Company conducts transactions to offer the Company’s shares to the employee stock ownership plan through trust,with the aim of enhancing employees’ benefits and providing incentives for the Company and Group employees toincrease corporate value.
1. Descriptions of transactions
In March 2022, the Company introduced a “Stock Benefit Trust Disposition-type Employee Stock Ownership Plan”(hereinafter the “ESOP”).
To initiate the ESOP, the Company concluded the “Stock Benefit Trust (Disposition-type ESOP) Agreement”(hereinafter the trust established pursuant to the agreement shall be referred to as the “ESOP Trust”), whereby the Company
is to act as the administrator and the role of trustee is assigned to Mizuho Trust & Banking Co., Ltd. (hereinafter the“Trustee”). In addition, an agreement was concluded under which the Trustee is to re-entrust shares of the Company andother assets of the ESOP Trust to an account with ancillary trustee, Custody Bank of Japan, Ltd. (hereinafter the “Trust
Account E”). The Trust Account E acquires shares of the Company that the Maeda Corporation Employee Stock Holding
Partnership, the Maeda Road Employee Stock Holding Partnership, and the Maeda Seisakusho Employee Stock Holding
Partnership (hereinafter collectively the “Stock Holding Partnership”), is expected to obtain over five years after the trust
was set up, and periodically sells its holdings to the Stock Holding Partnership. If, by the time of the ESOP Trust’s
termination, gains equivalent to capital gains on sales of shares are accumulated within the ESOP Trust through sales ofCompany’s shares by the Trust Account E to the Stock Holding Partnership, then those gains will be distributed as residual
assets to Stock Holding Partnership enrollees that meet the requirements for eligible beneficiaries. Furthermore, toguarantee funds borrowed by the Trustee that enable the Trust Account E to acquire the Company’s shares, the Company
is to repay any such remaining borrowings pursuant to a guarantee agreement, in the event there are any remaining
borrowings equivalent to losses on sales of shares due to a downturn in the price of Company’s shares up until terminationof the ESOP Trust.

102. Company’s shares remaining in trust
The Company’s shares remaining in trust were recorded as treasury shares in the net assets section at the book value intrust (excluding the amount as ancillary expenses). At the end of the previous fiscal year, the book value and number ofshares of the relevant treasury shares were ¥4,501 million and 4,221 thousand shares, respectively. As of June 30, 2022,
the book value and number of shares of the relevant treasury shares were ¥4,142 million and 4,033 thousand shares,
respectively.
3. Book value of borrowings recorded using the gross method
Borrowings at the end of the previous fiscal year amounted to ¥4,545 million and as of June 30, 2022 amounted to¥4,417 million.
(2) Board Benefit Trust (BBT)The Company’s consolidated subsidiary Maeda Corporation conducts transactions to offer shares of the Company todirectors (excluding outside directors) and executive officers (hereinafter collectively the “Directors”) of Maeda
Corporation through trust, in order to clarify a linkage among the Directors’ rewards, the Maeda Corporation’s financial
results, and the value of stock, and to strengthen incentives to the Directors aiming to increase the corporate value for the
purposes of sharing values with stockholders.
1. Descriptions of transactions
Maeda Corporation introduced a performance-based stock compensation plan called “Board Benefit Trust” (hereinafter
the “BBT”) by the resolution approved at the 74th general shareholders meeting held on June 21, 2019.
Under the BBT, in accordance with the Regulations on Stock Benefits for Officers (hereinafter the “Regulations”)
stipulated by Maeda Corporation, points will be granted to the Directors according to the standards prescribed by theCompany based on the degree of achievement of business results, etc., and on a certain date immediately after the end of
the Medium Term Business Plan period, the Company’s shares will be granted to the Directors who satisfy the requirements
for the beneficiaries set forth in the Regulations (hereinafter the “Beneficiaries”) in proportion to the number of points
granted to the Beneficiaries. However, if the Beneficiaries satisfy the requirements set forth in the Regulations, cash
equivalent to the fair value of the Company’s shares will be provided for a certain percentage of the points.
2. The Company’s shares remaining in trust
The Company’s shares remaining in trust are recorded as treasury shares in the consolidated balance sheet at the bookvalue in trust (excluding the amount as ancillary expenses). At the end of the previous fiscal year, the book value andnumber of shares of the relevant treasury shares were ¥549 million and 657 thousand shares, respectively. As of June 30,
2022, the book value and number of shares of the relevant treasury shares were ¥528 million and 657 thousand shares,
respectively.

11

(Segment information)
I For the three months ended June 30, 2022 (April 1, 2022 to June 30, 2022)
1. Information on sales, profit or loss by reportable segment and decomposition of income(Millions of yen)

Adjustment(Note 2)

Amountrecorded inquarterly
consolidated
statement ofincome(Note 3)

Reportable Segment
Building
Civil
Road Civil
Machinery
Construction Engineering Engineering

InfrastructureManagement

Total

Other
(Note 1)Total

Net sales
Goods transferred at apoint in time
Goods transferred overtime
Income from contracts
with customers

1,455

290

39,863

7,001

4,024

52,635

6,231

58,866－58,86637,52031,045

10,742

63－

79,372

3,070

82,442－82,442

38,976

31,33550,605

7,065

4,024

132,007

9,301

141,308－

141,308

521

－

40

1,052

6,700

8,315

－

8,315

－

8,315

Net sales to outside
customers
Inter-segment net sales
or transfers

39,49731,33550,646

8,118

10,724140,322

9,301

149,624－

149,624

431

14

914

369

－

1,729

2,526

4,256

(4,256)－

Total

39,92931,34951,5608,487

10,724142,052

11,827

153,880(4,256)

149,624

Segment profit (loss)

(509)

1,774

(1,592)

195

7,216

7,084

190

7,275

87

7,362

Other income(Notes) 1. “Others” is the segment which is not included in reportable segments, namely businesses operated by somesubsidiaries
2. Adjustment of segment profit (loss) includes inter-segment transactions of ¥87 million.
3. Adjustments are made to reconcile segment profit (loss) to operating profit reported on the consolidated statementof income.
(Significant subsequent event)Not applicable.

123. Supplementary Information(1) (Building Construction Segment) Classified by Public and Private: Orders Received, Net Sales and Backlog
1. Orders Received(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

18,53940.7%

Private Works

26,875

58.9%

Overseas

189

0.4%

Total

45,604100.0%

2. Net Sales(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

6,153

15.4%

Private Works

33,732

84.5%

Overseas

43

0.1%

Total

39,929100.0%

3. Backlog(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

91,62622.9%

Private Works

308,407

77.0%

Overseas

505

0.1%

Total

400,540

100.0%(Note) Net sales are before adjustment and include inter-segment transactions.

(2) (Civil Engineering Segment) Classified by Public and Private: Orders Received, Net Sales and Backlog
1. Orders Received(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

7,949

62.7%

Private Works

4,687

37.0%

Overseas

38

0.3%

Total

12,675100.0%

2. Net Sales(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

15,835

51.5%

Private Works

14,914

48.5%

Overseas

2

0.0%

Total

30,752100.0%

13

3. Backlog(Millions of yen)Three months ended
June 30, 2022
Amount%Public Works

137,767

45.1%

Private Works

167,036

54.7%

Overseas

597

0.2%

Total

305,401

100.0%(Note) Net sales are before adjustment and include inter-segment transactions.

(3) (Road Civil Engineering Segment) Classified by Type: Orders Received, Net Sales and Backlog
1. Orders Received(Millions of yen)Three months ended
June 30, 2022
AmountPavement
Construction
Civil Engineering
Works
Manufacturing/Sales
Other
Total

%

34,592

59.9%

6,886

11.9%

16,090

27.9%

147

0.3%

57,716100.0%

2. Net Sales(Millions of yen)Three months ended
June 30, 2022
AmountPavement%

28,743

55.7%

Civil Engineering
Works

6,579

12.8%

Manufacturing/Sales

16,090

31.2%

147

0.3%

51,560100.0%

Construction

Other
Total

3. Backlog(Millions of yen)Three months ended
June 30, 2022
Amount%Pavement
Construction

52,003

79.7%

Civil EngineeringWorks

13,207

20.3%

Manufacturing/Sales

－

－

Other

－

－

65,211100.0%

Total(Note) Net sales are before adjustment and include inter-segment transactions.

14

(4) Summary of Forecast of Consolidated Financial Results(Millions of yen)Three months ended
June 30, 2022
Results for thecurrent period
Net sales

Fiscal year ending March 31, 2023
Full-year forecast

YoYchangeProgress

149,624730,600

47,687

20.5%

Building Construction

39,497238,300

22,197

16.6%

Civil Engineering

31,335

155,500

12,86020.2%

Road Civil Engineering

50,646240,100

7,332

21.1%

Machinery

8,118

35,500177

22.9%

Infrastructure Management

10,72421,700

3,026

49.4%

Other

9,301

39,500

2,092

23.5%

21,24599,700

8,089

14.2%

13.6%

0.2%

3,368

26,500

3,096

8.5%

11.1%

0.3%

4,484

24,700(1,336)

14.3%

15.9%

(2.4)%

3,266

26,300

3,837

6.5%

11.0%

1.3%

1,574

7,500

132

19.4%

21.1%

0.3%

7,789

10,000

2,416

72.6%

46.1%

5.5%

761

4,700

(56)

8.2%

11.9%

(0.8)%

Selling, general and administrative expenses

13,883

57,100

2,979

24.3%

Operating profit

7,362

42,600

5,110

17.3%

Ordinary profit

8,454

43,500

5,463

19.4%

Profit attributable to owners of parent

5,309

32,400

5,710

16.4%

Gross profit

Building Construction

Civil Engineering

Road Civil Engineering

Machinery

Infrastructure Management
Other(Note) Percentages in the lower row of gross profit indicate profit margin.

15

21.3%

12.7%

18.2%

12.4%

21.0%

77.9%

16.2%

(Reference) Maeda Corporation: Supplementary Information
1) Summary of non-consolidated financial results forecast(Millions of yen)
Fiscal year ending
March 31, 2023

Three months ended June 30, 2022
Results for theprevious period

Results for thecurrent period

75,09877,605

2,507

402,500

36,727

19.3%

Construction Total

74,28770,160(4,126)

393,500

35,177

17.8%

Building
Construction
Civil
Engineering
InfrastructureManagement

45,47539,408(6,067)

238,500

21,65716.5%

28,81130,752

1,940

155,000

13,519

19.8%

383

6,923

6,539

7,500

2,919

92.3%

427

521

94

1,500

(1,368)

34.8%

6,637

14,194

7,556

58,200

4,063

8.8%

18.3%

9.5%

14.5%

(0.3)%

6,039

7,052

1,013

49,950

1,938

8.1%

10.1%

1.9%

12.7%

(0.7)%

3,032

3,176

143

25,850

3,187

6.7%

8.1%

1.4%

10.8%

0.4%

3,006

3,876

869

24,100(1,249)

10.4%

12.6%

2.2%

15.5%

(2.4)%

382

6,922

6,539

7,500

2,963

99.7%

100.0%

0.3%

100.0%

1.0%

216

219

3

750

(839)

50.6%

42.0%

(8.5)%

50.0%(5.4)%

6,536

7,125

589

27,600783

25.8%

Operating profit

101

7,068

6,967

30,600

3,279

23.1%

Ordinary profit

4,265

8,831

4,566

32,100(3,094)

27.5%

Profit

4,562

6,191

1,628

28,000

(512)

22.1%

Net sales

Real Estate
Gross profit

Construction Total
Building
Construction
Civil
Engineering
InfrastructureManagement
Real Estate
Selling, general and administrative
expenses

Full-year forecast
YoY change

YoY change(Note) The percentages in the lower row of Gross profit indicate the profit margin.
2) Non-consolidated forecast of orders received for the construction business(Millions of yen)
Fiscal year ending

Three months ended

March 31, 2023

June 30, 2022

Full-year forecast

YoY change

Results for thecurrent period

Progress

Building Construction

260,000(0.1)%

45,061

17.3%

Civil Engineering

160,000(0.2)%

12,675

7.9%

Total

420,000(0.1)%

57,736

13.7%

16Progress

24.4%

14.1%

12.3%

16.1%

92.3%

29.2%