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 Year Ended March 31, 2023
[Japanese GAAP]May 19, 2023
Company name:NIPPON CONCRETE INDUSTRIES CO., LTD.
Stock exchange listing: Tokyo
Code number:
5269
URL:
https://www.ncic.co.jp/
Representative:
TSUKAMOTO Hiroshi,
Representative Director and President
Contact:
SUGITA Yoshihiko,
Director and Executive Officer
Phone:+81-3-3452-1025
Scheduled date of Annual General Meeting of Shareholders:June 29, 2023
Scheduled date of commencing dividend payments:
Scheduled date of filing annual securities report:
June 30, 2023
Availability of supplementary briefing material on annual financial results: Yes
Schedule of annual financial results briefing session:
Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent%
Millions of yen%
Millions of yen%
Millions of yen%
Millions of yen
Fiscal year ended
March 31, 2023
52,986
11.8
(228)
97
(93.8)(439)
March 31, 2022
47,376(3.1)
1,228(55.3)
1,555(51.1)
876(53.2)(Note) Comprehensive income:Fiscal year ended March 31, 2023:¥(522) million [-%]Fiscal year ended March 31, 2022:¥(496) million [-%]Basic earnings per Diluted earnings per Rate of return on
share
share
equityYen
Fiscal year ended
March 31, 2023
(8.07)March 31, 2022
15.63
(Reference) Equity in earnings (losses) of affiliated companies:

Yen

Ordinary profit tototal assets ratio

%

(1.2)
2.4
Fiscal year ended March 31, 2023:
Fiscal year ended March 31, 2022:

Operating profit to
net sales ratio

%

%

0.1
2.1
¥
¥

(0.4)
2.6
163 million
218 million(2) Consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Net assets

Millions of yen

Millions of yen

76,90675,003As of March 31, 2023:
As of March 31, 2022:

Capital adequacy ratio¥¥

37,65838,672
34,949 million
36,054 million

Net assets per share

%

Yen

45.4
48.1

643.71653.95(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
March 31, 2023
March 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Millions of yen

Millions of yen

Millions of yen

Millions of yen

432
2,879

(1,434)(3,590)

(447)
532

7,136
8,599

2. Dividends
Annual dividends
1st
2nd
3rd
quarter-end quarter-end quarter-end

Year-end

Payoutratio

Total
dividends

Total(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen Millions of yen

March 31, 2022

-

4.50

-

4.50

9.00

March 31, 2023

-

0.00

-

0.00

0.00

-

6.50

-

6.50

13.00

Dividends
to netassets(consolidated)

%

%

505

57.6

1.4

-

-

-

Fiscal year ending
March 31, 2024-

(Forecast)(Note) Breakdown of the year-end dividend for the fiscal year ended March 31, 2023 :Commemorative dividend- yenSpecial dividend- yen
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable Basic earnings per
Net sales
Operating profit
Ordinary profit
to owners of parent
share
Six months ending
September 30, 2023
Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions of
yen

%

Yen

27,000

9.7

650

-

800

119.8

400

707.8

7.13

55,000

3.8

1,300

-

1,600

-

800

-

14.26

* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No
New(Company name:)
Exclusion:(Company name:)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2023:
57,777,432 shares
March 31, 2022:
57,777,432 shares
2) Number of treasury shares at the end of the period:
March 31, 2023:
3,483,945 shares
March 31, 2022:
2,644,746 shares
3) Average number of shares outstanding during the period:
Fiscal Year ended March 31, 2023:
Fiscal Year ended March 31, 2022:

54,402,098 shares
56,081,665 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year ended
March 31, 2023
March 31, 2022

Operating profit

Ordinary profit

Net income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

36,04832,73410.1(15.9)

621
1,193(47.9)(47.9)

(439)
1,062

(52.6)(803)
622(58.4)

Basic earnings per share Diluted earnings per share
Fiscal year ended
March 31, 2023
March 31, 2022

Yen

Yen

(14.72)
11.05-(2) Non-consolidated Financial Position
Total assets
As ofMarch 31, 2023
March 31, 2022
(Reference) Equity:

Net assets

Millions of yen

61,39858,336
As of March 31, 2023:
As of March 31, 2022:

Capital adequacy ratio

Millions of yen¥¥

24,675
26,152
24,675 million
26,152 million

Net assets per share

%

Yen

40.2
44.8

453.49471.75* Financial results reports are not required to be subjected to reviews.
* Explanation for appropriate use of financial forecasts and other special notes.
The forecasts given in this document are based on the current available information in the company and certain reasonableassumptions to the company. Actual results may differ from these forecasts by a variety of reasons.

Table of contents

1. Overview of Business Results, etc. ·························································································· 2(1) Overview of Business Results for the Fiscal Year under Review ···················································· 2(2) Overview of Financial Position for the Fiscal Year under Review ·················································· 3(3) Overview of Cash Flows for the Fiscal Year under Review ·························································· 3(4) Basic Policy on Profit Distribution and Dividends for the Fiscal Year under Review and Next Fiscal Year ·· 4(5) Future Outlook ·············································································································· 4(6) Significant Events Relating to Going Concern Assumption, etc. ···················································· 5
2. Basic Approach to the Selection of Accounting Standards ······························································· 5
3. Consolidated Financial Statements and Primary Notes ··································································· 6(1) Consolidated Balance Sheets ······························································································ 6(2) Consolidated Statements of Income and Comprehensive Income ··················································· 8(3) Consolidated Statements of Changes in Net Assets ···································································10(4) Consolidated Statements of Cash Flows··············································································· 14(5) Notes to Consolidated Financial Statements ·········································································· 16(Notes on Going Concern Assumption) ················································································ 16(Significant Accounting Policies for Preparation of Consolidated Financial Statements) ······················ 16(Changes in Accounting Policies) ······················································································ 19(Additional Information) ································································································· 19(Matters Related to Revenue Recognition) ············································································ 20(Segment Information, etc.) ····························································································· 20(Per Share Information) ·································································································· 24(Significant Events after Reporting Period) ··········································································· 24

11. Overview of Business Results, etc.
(1) Overview of Business Results for the Fiscal Year under Review
During the fiscal year under review (ended March 31, 2023), although the economic environment saw movement
toward gradual recovery due to the shift to coexistence with COVID-19, the outlook remained uncertain due to theprolonged situation in Ukraine and significant depreciation of the yen, in addition to repeated increases in energy,
raw material and logistics expenses.
Regarding the business environment in which the Group operates, expectations remained high for concrete
products that contribute to disaster prevention and mitigation, maintenance of social infrastructure, disaster recovery,
the shortening of construction periods and labor saving, as well as for the Company-developed technology for carbon
capture and CCUS (carbon dioxide capture, utilization and storage) products, and low-carbon type concrete products.
On the other hand, with the market for poles destined for mobile phone base stations experiencing a sharp decline,
and the rising prices of raw material and energy for concrete secondary products, conditions are severe.
In these circumstances, the Group recorded net sales of 52,986 million yen (up 11.8% year-on-year) due in part toinitiatives to expand sales and enhance plant utilization rates, focused mainly in the Foundation Business, which has
proved to be a robust market. However, with the delay in passing on the rising prices of primary materials such as
steel and cement to selling prices and the delay in responding to the sharp decline in shipment volumes of poles formobile phone base stations (COP) and the recording of approximately 300 million yen in provision for loss on
evaluation of our inventory of metal components for these same poles, operating loss was 228 million yen (operating
profit of 1,228 million yen in the same period of the previous fiscal year), ordinary profit was 97 million yen (down
93.8% year-on-year), and loss attributable to owners of parent was 439 million yen (profit attributable to owners ofparent of 876 million yen in the same period of the previous fiscal year).

An overview of each business for the fiscal year under review is as follows:
1) Foundation Business
The demand for concrete piles across Japan during the fiscal year under review rose by approximately 11%
year-on-year. As a result of proactive efforts to increase orders by the Group, net sales were 28,232 million yen(up 48.6% year-on-year).
As for profit, segment income was 515 million yen (up 127.2% year-on-year) due, in part, to an improvementin plant utilization rates, despite time being required to pass on rising raw material prices to selling prices.
2) Concrete Secondary Product BusinessIn the Pole-related Business, which is part of the Concrete Secondary Product Business, concrete pole
shipments throughout Japan fell roughly 16% year-on-year. In this severe environment, shipments of COP, which
had been strong in the previous fiscal year, reduced significantly, and net sales amounted to 13,049 million yen(down 20.3% year-on-year).
In the Civil Engineering Product Business, while production was brisk for RC segments intended for the
Linear Chuo Shinkansen, net sales were 11,410 million yen (down 2.4% year-on-year), partly influenced by
reduced orders for slope reinforcement works by Free Kogyo Co., Ltd.
As a result, net sales in the Concrete Secondary Product Business amounted to 24,460 million yen (down
12.9% year-on-year). As for profit, segment income was 660 million yen (down 74.1% year-on-year) on accountof rising raw material prices and a substantial decline in COP production and shipments in addition to theapproximately 300 million yen recorded in provision for loss on evaluation of our inventory of metal components
for COP.

2

3) Real Estate and Solar Power Generation Business
The Real Estate Business reported steady rental income from nursing-care facilities and other property. The
Solar Power Generation Business also steadily generated and sold electricity, utilizing its two solar power plants
in Ibaraki Prefecture: NC Kanto Solar Power Plant in Koga City and NC Tagawa Solar Power Plant in ChikuseiCity. Consequently, the Real Estate and Solar Power Generation Business recorded net sales of 292 million yen(down 6.0% year-on-year) and segment income of 184 million yen (up 0.8% year-on-year).
(2) Overview of Financial Position for the Fiscal Year under Review
The Group’s financial policies are to reduce total assets so as to improve ROA through measures such as earlycollection of accounts receivable, optimization of product inventories, and efficient capital investment strategies; andto reduce interest-bearing debts by improving the efficiency of the Group’s funds and assets.
Total assets at the end of the fiscal year under review were 76,906 million yen, up 1,902 million yen from the endof the previous fiscal year.
Current assets were 34,559 million yen, up 2,589 million yen from the end of the previous fiscal year, and noncurrent assets were 42,347 million yen, down 686 million yen from the end of the previous fiscal year.
The increase in current assets was mainly due to contract assets and electronically recorded monetary claims –operating, and the decrease in non-current assets was mainly due to decreases in property, plant and equipment suchas machinery, equipment and vehicles.
Total liabilities were 39,247 million yen, up 2,916 million yen from the end of the previous fiscal year.
Current liabilities were 25,446 million yen, up 2,557 million yen from the end of the previous fiscal year, andnon-current liabilities were 13,801 million yen, up 359 million yen from the end of the previous fiscal year.
The increase in current liabilities was mainly due to an increase in electronically recorded obligations – operating,and the increase in non-current liabilities was mainly due to increases in long-term borrowings.
Total net assets were 37,658 million yen, down 1,013 million yen from the end of the previous fiscal year.
It was mainly due to the acquisition of treasury shares.
As a result of the above, the equity ratio came to 45.4%.
(3) Overview of Cash Flows for the Fiscal Year under Review
Cash and cash equivalents at the end of the fiscal year under review decreased by 1,463 million yen year-on-year
to 7,136 million yen.
1) Cash flows from operating activities
Funds provided by operating activities amounted to 432 million yen. This was chiefly because the factors toincrease funds, such as 157 million yen recorded as profit before income taxes, 1,859 million yen recorded as
depreciation, and 2,807 million yen recorded as an increase in trade payables exceeded the factors to decrease
funds including 3,340 million yen recorded as an increase in notes and accounts receivable – trade and contract
assets.
2) Cash flows from investing activities
Funds used in investing activities totaled 1,434 million yen. This was chiefly due to the factors to decrease
funds, such as 1,308 million yen recorded as purchase of property, plant and equipment.
3) Cash flows from financing activities
Funds used in financing activities totaled 447 million yen. This was chiefly because the factors to decrease
funds, such as 2,303 million yen recorded as repayment of long-term borrowings and 299 million yen recorded asacquisition of treasury shares, exceeded the factors to increase funds including 2,355 million yen recorded as net
increase in proceeds from long-term borrowings and 100 million yen recorded as proceeds from issuance of bonds.

3

(Reference) Trends in cash flow indicators
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
ended
ended
ended
ended
ended
March 31, 2019 March 31, 2020 March 31, 2021 March 31, 2022 March 31, 2023

Equity ratio (%)

49.0

50.6

50.2

48.1

45.4

Market-value equity ratio (%)

20.3

21.4

31.1

21.3

18.0

Cash flow to interest-bearing
debt ratio (years)

3.0(21.8)

2.8

4.5

32.1

Interest coverage ratio (times)

63.3(10.3)

85.2

55.1

6.90

Equity ratio = Equity / Total assets
Market-value equity ratio = Market capitalization / Total assets
Cash flow to interest-bearing debt ratio = Interest-bearing debts / Cash flows
Interest coverage ratio = Cash flows / Interest payment(4) Basic Policy on Profit Distribution and Dividends for the Fiscal Year under Review and Next Fiscal Year
The Company recognizes the return of profit to shareholders as one of its key business policies to follow, inparallel with the reinforcement of its management base and enhancement of its corporate value.
As to the distribution of retained earnings, the Company has made it a rule to provide appropriate returns toshareholders by ensuring steady dividend payments as far as its financial results allow. At the same time, we believe
it is also in the long-term interests of shareholders to solidify our corporate foundation through research anddevelopment, production facility upgrades, and other measures. Therefore, we strive to secure an appropriate levelof internal reserves as well.
From these perspectives, in determining the distribution of retained earnings, we comprehensively take into
account a variety of factors, such as our consolidated financial results for the period concerned, profit trends, futurebusiness development, maintenance and enhancement of financial strength, and payout ratio. Additionally, when
determining the distribution of retained earnings at the end of each second quarter, we consider the first-half financial
results and the full-year financial results forecast, among other elements.
In accordance with this dividend policy, we regret to say that, following on from the same decision with regard
the interim dividend for the second-quarter, we have decided not to pay a year-end dividend due to the fact that wehave been unable to post profits that would enable the payment of such dividends. Upon careful consideration of thefact that we have not paid an annual dividend for the current fiscal year under review, we are planning to raise thedividend payout ratio for the next fiscal year to around 90% as part of efforts to increase shareholder returns, bringing
the expected annual dividend amount to 13 yen.
(5) Future Outlook
With regard the future outlook, we expect that the conditions of the business environment in which the Company
Group operates will remain severe owing to the on-going risks presented by an unstable international environment
and increases in energy, raw material and logistics expenses.
The next fiscal year will be the final year of the Company Group’s FY2021 Medium-Term Management Plan;
however, compared to when the plan was formulated, the business environment has changed significantly, including
rising raw material costs and a sharp decline in shipments of COP, which makes efforts to achieve the targets set out
in said plan difficult. In response to such a situation, we have formulated a business improvement plan that will allow
the Group to realize a quick recovery in business performance. The details of the main initiatives of this plan are as
follows:
 Universal cost reductions without any sacred cows (taking inventory of businesses, organizational reviews,
4







etc.)
Manufacturing cost reductions (reviews of factory production systems and manufacturing cost, andoptimizing production efficiency)
Troubleshooting-cost reductions (more robust quality control for manufacturing and construction)
Sales expansion for poles and precast concrete walls
Penetration of appropriate selling prices in accordance with rises in the raw material prices
Improve collaboration between manufacturing and sales to help build a highly profitable structure acrossthe entire GroupThe steady implementation of these initiatives should bring the outlook for the Company Group’s next fiscal
year in-line with the Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024.

(6) Significant Events Relating to Going Concern Assumption, etc.
There is no relevant information.

2. Basic Approach to the Selection of Accounting Standards
The Group makes it a policy to prepare consolidated financial statements in compliance with Japanese accounting
standards for the time being, considering comparability between consolidated financial statements for different
reporting periods and comparability between reporting entities.
With respect to the adoption of International Financial Reporting Standards, we intend to consider various
situations in Japan and abroad and take appropriate steps.

53. Consolidated Financial Statements(1) Consolidated Balance Sheets(Thousand yen)
As of March 31,2022
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable - trade
Contract assets
Merchandise and finished goods
Work in process
Raw materials and supplies
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6

As of March 31,2023

8,599,733
2,360,569

7,136,254
2,184,668

1,526,162

2,851,162

8,419,996
1,039,374
6,311,250
476,576
1,898,836
269,218
1,103,198(35,280)
31,969,634

8,466,960
3,184,108
6,662,602
616,733
1,851,977
548,749
1,080,338(24,300)
34,559,255

19,712,117(14,414,749)
5,297,368
33,120,637(30,102,713)
3,017,923
17,237,062
141,951
15,401,205(14,220,263)
1,180,942
26,875,248
444,132

19,809,852(14,732,369)
5,077,483
33,444,158(30,747,747)
2,696,411
17,237,062
504,159
15,220,595(14,283,237)
937,357
26,452,474
439,632

12,241,800
1,884,476
734,118
1,090,681(236,696)
15,714,380
43,033,760
75,003,395

12,235,905
1,922,733
788,855644,444(136,987)
15,454,951
42,347,059
76,906,314

(Thousand yen)
As of March 31,2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Current portion of bonds payable
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
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
Revaluation reserve for land
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

As of March 31,2023

4,983,962
7,792,309
4,000,000
2,389,054
24,500203,887
586,357

5,345,374
10,094,953
4,049,600
2,121,673
20,000308,412561,537

48,615

15,617

117,070
2,743,175
22,888,930

27,9702,901,088
25,446,227

80,0006,378,494
2,860,025
2,410,926
1,193,732
518,493
13,441,671
36,330,602

160,000
6,697,597
2,808,385
2,410,926
1,242,252
481,998
13,801,160
39,247,387

5,111,583
3,894,910
19,181,307(818,520)
27,369,281

5,111,583
3,857,548
18,493,031(1,010,996)
26,451,166

3,547,540

3,452,402

5,312,368(147,543)(27,616)
8,684,749
2,618,762
38,672,793
75,003,395

5,312,368(178,438)(88,161)8,498,170
2,709,590
37,658,927
76,906,314

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Thousand yen)
For the fiscal year
ended March 31,2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Loss on claims
Interest expenses
Arrangement fee
Loss from suspension of plantoperations assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on step acquisitions
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit attributable to non-controlling interests
Profit (loss) attributable to owners of parent

8

For the fiscal year
ended March 31,2023

47,376,648
39,580,268
7,796,380
6,568,327
1,228,052

52,986,076
46,545,904
6,440,172
6,668,825(228,653)

8,218
200,134

6,630
186,000

218,485

163,855

151,855
578,694

242,645599,133

54,73096,10032,79367,615251,238
1,555,508

80,00063,658
16,666
22,136
90,987
273,449
97,03012,825
164,036433,716
610,578

18,31575,526
93,8418,460
117,949
329,354455,764
1,710,322
633,725
121,241754,967
955,355
79,019876,336

33,103
33,103
157,768
531,856(39,881)
491,974(334,206)
104,990(439,196)

Consolidated Statements of Comprehensive Income(Thousand yen)
For the fiscal year
ended March 31,2022
Profit (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 ofparentComprehensive income attributable to non-controllinginterests

9

For the fiscal year
ended March 31,2023

955,355(334,206)(1,081,911)(120,515)(246,558)(89,317)(35,372)(60,753)(2,749)(2,986)(1,451,735)(496,380)(188,430)(522,637)(558,580)(625,774)

62,200103,137

(3) Consolidated Statements of Changes in Net Assets
Retained earnings(Thousand yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Change inownership interestof parent due totransactions with
non-controllinginterests
Profit (loss)
attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period5,111,583

3,850,779

Retainedearnings

TreasurysharesTotalshareholders'equity18,900,629(443,433)

27,419,559

25,294
5,111,583

3,850,779

18,925,924

25,294(443,433)(620,952)

27,444,853(620,952)

44,131

44,131

876,336876,336(403,069)(403,069)

27,982

27,982-

44,131

255,383(375,087)(75,572)

5,111,583

3,894,910

19,181,307(818,520)

27,369,281

10Accumulated other comprehensive income
Valuation
Revaluationdifference on
reserve foravailable-for-salelandsecurities
Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Change inownership interestof parent due totransactions with
non-controllinginterests
Profit (loss)
attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period4,628,464

5,312,368

Foreigncurrencytranslation
adjustment(42,293)

Total
Remeasurements accumulated Non-controllinginterestsof definedotherbenefit plans comprehensive
income221,127

10,119,665

1,844,839

Total net
assets39,384,064
25,294

4,628,464

5,312,368(42,293)

221,127

10,119,665

1,844,839

39,409,359(620,952)

44,131

876,336(403,069)
27,982(1,080,923)-(105,250)(248,743)(1,434,916)

773,923(660,993)(1,080,923)-(105,250)(248,743)(1,434,916)

773,923(736,566)

3,547,540

5,312,368(147,543)(27,616)

8,684,749

2,618,762

38,672,793

11

For the fiscal year ended March 31,2023(Thousand yen)
Shareholders' equity
Share capital Capital surplus
Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Change inownership interestof parent due totransactions with
non-controllinginterests
Profit (loss)
attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodRetainedearnings

TreasurysharesTotalshareholders'equity5,111,583

3,894,910

19,181,307(818,520)

27,369,281

5,111,583

3,894,910

19,181,307(818,520)

27,369,281(249,079)(249,079)

6,951

6,951

(439,196)(44,314)(439,196)(299,364)(299,364)

106,888

62,574-(37,362)(688,276)(192,476)(918,115)

5,111,583

3,857,548

18,493,031(1,010,996)

26,451,166

12

Accumulated other comprehensive income
Valuation
Revaluationdifference on
reserve foravailable-for-salelandsecurities
Balance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodDividends ofsurplus
Change inownership interestof parent due totransactions with
non-controllinginterests
Profit (loss)
attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
periodForeigncurrencytranslation
adjustment

Total
Remeasurements accumulated Non-controllinginterestsof definedotherbenefit plans comprehensive
incomeTotal net
assets3,547,540

5,312,368(147,543)(27,616)

8,684,749

2,618,762

38,672,793

3,547,540

5,312,368(147,543)(27,616)

8,684,749

2,618,762

38,672,793(249,079)

6,951(439,196)(299,364)
62,574(95,137)-(30,894)(60,545)(186,578)

90,827(95,750)(95,137)-(30,894)(60,545)(186,578)

90,827(1,013,865)

3,452,402

5,312,368(178,438)(88,161)8,498,170

2,709,590

37,658,927

13

(4) Consolidated Statements of Cash Flows(Thousand yen)
For the fiscal year
ended March 31,2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Share of loss (profit) of entities accounted for using
equity method
Interest and dividend income
Interest expenses
Loss (gain) on step acquisitions
Loss (gain) on valuation of investment securities
Loss (gain) on sale of non-current assets
Loss on retirement of non-current assets
Loss (gain) on sale of investment securities
Decrease (increase) in notes and accounts receivable trade and contract assets
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in dvance received and contractdebt
Decrease (increase) in accounts receivable - other
Increase (decrease) in accounts payable - other
Increase (decrease) in accrued consumption taxes
Decrease (increase) in other investments
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Other, net
Net cash provided by (used in) investing activities

14

For the fiscal year
ended March 31,2023

1,710,322
2,119,312
329,354
56,928(5,674)82,099157,768
1,859,940
56,928(110,689)(25,641)(4,924)(33,798)(11,330)(89,100)(2,976)(151,171)

48,520(38,256)(218,485)(163,855)(208,353)
54,730(433,716)
117,949(12,825)8,460(164,036)(192,631)
63,658(18,315)
33,103(75,526)

3,010,380(3,340,797)

81,750(635,434)(724,181)2,807,701(739,595)

41,190(202,226)
75,478(407,419)(291,658)(252,266)
3,904,670
253,295(52,968)(1,225,934)
2,879,062(128,862)(45,250)(57,741)
363,091
229,726
616,983
210,260(62,831)(391,126)
59,092432,378(1,605,267)
12,825(180,203)(511)
276,146(1,308,082)
18,315(242,571)(578)
98,279(2,097,117)

-

3,811
(3,590,316)

160(1,434,478)

(Thousand yen)
For the fiscal year
ended March 31,2022
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Redemption of bonds
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Repayments of construction assistance fund
Proceeds from sales of shares of parent held bysubsidiaries
Purchase of shares of subsidiaries not resulting inchange in scope of consolidation
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

15

For the fiscal year
ended March 31,2023(100,000)
5,200,000(3,418,008)
100,000(27,000)(102,861)(343,375)(622,276)(14,770)(17,500)

49,6002,355,663(2,303,941)
100,000(24,500)(102,494)(299,364)(249,621)(13,555)(17,500)-

60,200(121,501)(1,876)

532,707(447,390)(26,032)(13,988)(204,578)
8,804,311
8,599,733(1,463,478)
8,599,733
7,136,254

(5) Notes to Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.
(Significant Accounting Policies for Preparation of Consolidated Financial Statements)
1. Disclosure of scope of consolidation
1) Consolidated subsidiaries
 Number of consolidated subsidiaries: 20
 Names of consolidated subsidiaries:
NC East Japan Concrete Industries Co., Ltd.; NC Central Japan Concrete Industries Co., Ltd.; NC Kanto
Pile Manufacturing Co., Ltd.; NC West Japan Pile Manufacturing Co., Ltd.; NC Shikoku Concrete
Industries Co., Ltd.; NC Kyushu Co., Ltd.; NC Kaihara Pile Manufacturing Co., Ltd.; NC Chubu Pile
Manufacturing Co., Ltd.; NC Segment Co., Ltd.; NC Precon Co., Ltd.; Hokkaido Concrete Industries
Co., Ltd.; NC Steel Co., Ltd.; NC Nikkon Industries Co., Ltd.; NIPPON CONCRETE (Myanmar) Co.,
Ltd.; NC Kaihara Concrete Co., Ltd.; NC Koki Co., Ltd.; Free Kogyo Co., Ltd.; Tohoku Pole Co., Ltd.;NC Management Service Co., Ltd. and NC Logistics Co., Ltd.
2) Name of major unconsolidated subsidiary:
NC Union Kosan Co., Ltd.
Reasons for exclusion from scope of consolidation:
This unconsolidated subsidiary is small in size and none of its total assets, net sales, profit (amountcorresponding to the Company’s equity in the subsidiary), retained earnings (amount corresponding to
the Company’s equity in the subsidiary), and so forth has a significant impact on the consolidated
financial statements.
3) Number of associates accounted for using equity method: 3Names of major entities accounted for using equity method:
Kyushu Kouatsu Concrete Industries Co. Ltd. and Chugoku Kouatsu Concrete Industries Co. Ltd.
4) Names of major unconsolidated subsidiaries and associates not accounted for using equity method:
NC Union Kosan Co., Ltd. and Nihonkai Concrete Industries Co. Ltd.
Reasons for not being accounted for using equity method:
Each of the companies not accounted for using the equity method has only an insignificant impact
on the Company’s profit or loss, retained earnings, and other items, and is generally immaterial.
Therefore, they are excluded from the application of the equity method.
5) Disclosure about fiscal years, etc. of consolidated subsidiaries
The balance sheet date of consolidated subsidiaries is the same as the consolidated balance sheet date.
2. Disclosure of accounting policies(1) Accounting policy for measuring significant assets
1) Securities
Available-for-sale securities
Excluding shares, etc. with no market value:
Stated at market value (The entire valuation difference is recognized directly in net assets, and thecost of securities sold is calculated using the moving-average method.)
Shares with no market value:
Stated at cost, using the moving average method.

162) Inventories
Merchandise, finished goods, raw materials, and supplies:
Stated at cost, mainly using the moving average method (write-downs due to decreased profitability).
Work in process and expenditure on contracts in process:Stated at cost, mainly using the identified cost method(2) Accounting policy for depreciation of significant assets
1) Property, plant and equipment (excluding leased assets)
Depreciated mainly using the declining-balance method.
However, the straight-line method is used to depreciate the buildings (excluding facilities attached tothem) acquired on or after April 1, 1998, and the facilities attached to buildings and structures acquiredon or after April 1, 2016.
The useful lives of major assets are as follows:
Buildings and structures: 10 to 50 years
Machinery, equipment and vehicles: five to nine years
2) Intangible assets (excluding leased assets)
Amortized using the straight-line method.
Software for internal use is amortized based on the usable period within the Company (five years).
3) Leased assets
Leased assets related to finance lease transactions not involving the transfer of ownership:
Depreciated using the straight-line method, based on the assumption that the useful life equals thelease term and the residual value equals zero.
(3) Accounting policy for significant provisions
1) Allowance for doubtful accounts
To provide for losses from bad debts, an allowance is recognized in the amount estimated to beuncollectible, using the loan loss ratio for general accounts receivable, while examining collectability on
an individual basis for specific accounts receivable such as doubtful accounts receivable.
2) Provision for bonuses
To prepare for the payment of bonuses (including a performance-linked portion of performance-linked
compensation) to employees, a provision is recognized based on the estimated amount of payments
attributable to the fiscal year under review.
3) Provision for bonuses for directors (and other officers)
To prepare for the payment of salaries (including a performance-linked portion of performance-linked
compensation) to directors and other officers, a provision is recognized based on the estimated amountof payments for the fiscal year under review.
4) Provision for loss on construction contracts
To provide for losses on construction contracts, a provision is recognized in the amount of estimatedlosses for uncompleted construction contracts at the end of fiscal year under review that are likely to incur
losses and for which the amount of losses can be reasonably estimated.
(4) Accounting policy for retirement benefits
To provide for the payment of retirement benefits to employees, the amount of retirement benefit
obligations minus plan assets is recognized as retirement benefit liability, based on the estimated amounts at
the end of the fiscal year under review. The methods of accounting for provision for retirement benefits andretirement benefit expenses are as follows:
1) Method of attributing expected retirement benefits to periods

17

In the calculation of retirement benefit liability, expected retirement benefits are attributed to theperiods up to the end of the fiscal year under review using the benefit formula basis.
2) Method of expensing actuarial gains and losses and past service cost
Past service cost is expensed using the straight-line method over a fixed number of years (10 years)
within the employees’ average remaining service period at incurrence.
Actuarial gains and losses are expensed in an amount prorated using the straight-line method over a
fixed number of years (10 years) within the employees’ average remaining service period at incurrence,from the fiscal year following the fiscal year of incurrence.
3) Application of the simplified method for small businesses
In the calculation of retirement benefit liability and retirement benefit expenses, some consolidated
subsidiaries apply a simplified method in which the necessary retirement benefit provisions for voluntary
resignations at the end of the fiscal year are recognized as retirement benefit obligations.
(5) Accounting policy for revenue and expenses
The details of the main performance obligations in the major businesses related to revenue from contracts
with the Company’s customers and the timing at which the Company typically satisfies these performanceobligations (when it typically recognizes revenue) are as follows:
1) Product sales
In terms of product sales for the Foundation Business and the Concrete Secondary Product Business,
the Company is engaged in the manufacture and selling of concrete piles, poles, and civil engineering
products. Our primary performance obligation in these transactions is the delivery of specified products
to customers based upon contracts with the same customers. Therefore, the typical timing (when the
Company typically recognizes revenue) at which such performance obligations are satisfied, whencontrol of the products is transferred to customers via delivery of the products and the performanceobligations are satisfied, is the point of delivery of the goods. However, for transactions within Japan, in
which the period comprising shipment of the product until the control of said merchandise or finishedproduct is transferred to the customer represents the typical timing, revenue is recognized at the point ofshipment of the product. Further, the Company receives consideration for such transactions generally
within one year of delivery of the product, which is not considered to include a significant financialcomponents.
2) Construction contract sales
In terms of construction contract sales for the Foundation Business and the Concrete Secondary
Product Business, the Company is engaged in contracted work related to the construction of concrete
piles, poles, and civil engineering products. Our primary performance obligation in these transactions is
the competition of the respective construction works, including the construction of pile foundations on
the land of the contractor based on the contract with the customer. With regard to these construction
contracts, as the customer assumes control over the asset as it is built over the course of the construction
work, the performance obligation is one in which its satisfaction is achieved over a set period of time.
Further, the degree of progress toward satisfaction of said performance obligations is measured by theratio of the construction cost actually incurred by the end of the fiscal year under review to the estimatedtotal construction cost, which we judge to be a faithful characterization with regard to the transfer ofcontrol to the customer. As such, we recognize revenue based on the ratio of the construction cost actually
incurred by the end of the fiscal year under review to the estimated total construction cost (hereinafterreferred to as, “revenue recognized based on the percentage-of-completion method”). However, due tothe fact that it is impossible to make reasonable estimates with regard to the degree of progress at theend of the fiscal year under review due to the lack of reliable information for estimating total construction

18

costs, etc., if it is probable that the construction cost incurred when the performance obligations are
satisfied will be recovered, the Company will recognize revenue using the actual construction costs up
until it becomes possible to reasonably estimate the degree of progress toward satisfaction of said
performance obligations (hereinafter referred to as, “revenue recognized based on the cost recovery
method”).
For construction contracts in which the period from the time when a transaction is commenced tothe period the construction is complete is very short, the Company applies alternative treatment, and does
not recognize revenue over a period of time but recognizes revenue at the point in time when theconstruction is complete (hereinafter referred to as, “revenue recognized based on the completion
method”.)
The considerations for these construction contract transactions are received in stages according to
the general degree of progress and in accordance with the terms of the contract.
Further the main item under “Other revenue” recorded in Net Sales includes revenue from real estateleasing, the revenue from which is recognized based on time elapsed.
(6) Accounting policy for translation of significant foreign currency denominated assets or liabilities into yen
Monetary claims and debts denominated in foreign currency are translated into yen at the spot exchange
rate on the balance sheet date, with translated amounts recognized in profit or loss.
(7) Accounting policy for goodwill
Goodwill is amortized evenly over five years, except for goodwill with immaterial value that is fully
amortized as incurred.
(8) Scope of funds in consolidated statement of cash flows
Funds (cash and cash equivalents) in the consolidated statements of cash flows consist of cash on hand,demand deposits, and liquid short-term investments bearing a very low risk of value fluctuation with maturities
not exceeding three months from the acquisition date.
(Changes in Accounting Policies)(Application of the Implementation Guidance on Accounting Standard for Fair Value Measurement)
Effective from the beginning of the fiscal year under review, the Company has applied the “Implementation
Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, June 17, 2021;
hereinafter referred to as “Fair Value Measurement Guidance”), and will prospectively apply the new
accounting policies stipulated by the Fair Value Measurement Guidance in accordance with the transitional
treatment provided in Paragraph 27-2 of the Fair Value Measurement Guidance. There has been no impact on
the quarterly consolidated financial statements.
(Additional Information)(A transaction in which the Company’s shares are delivered to its employees, etc. through a trust)(1) Summary of the transaction
As for the Board Incentive Plan Trust (hereinafter referred to as the “BIP Trust”) and the Stock Granting
Trust (J-ESOP) (hereinafter referred to as the “J-ESOP Trust”) introduced in August 2015, the Company
resolved at the Board of Directors’ Meeting held on August 11, 2021 to continue the BIP Trust and the J-ESOP
Trust for a new three-year period (from the fiscal year ending March 31, 2022 to the fiscal year ending March
31, 2024) and reintroduced them by entering into an agreement to extend their terms, for the purpose ofincreasing motivation to improve the Company’s medium- to long-term performance and raising awarenesstoward the contribution to an increase in shareholder value.

19(2) The Company’s shares remaining in the trust
The Company’s shares remaining in the trust are recorded as treasury shares in net assets at their bookvalue (excluding incidental expenses) in the trust. The book value and the number of shares of the treasury
shares at the end of the fiscal year under review are 43,816 thousand yen and 136,995 shares for the BIP Trust,and 35,117 thousand yen and 107,785 shares for the J-ESOP Trust.
(Matters Related to Revenue Recognition)
Information on the breakdown of revenue arising from contracts with customers
For the previous fiscal year ended March 31, 2022
(Thousand yen)Foundation
Business

Concrete
Secondary ProductBusiness

Product sales
3,175,323
25,297,620
Construction contract
15,788,884
2,757,634
sales
Other sales
14,743
14,686
Revenue from contracts
18,978,952
28,069,941
with customers
Other revenue (Note)
16,597－
Net sales to outside
18,995,549
28,069,941
customers(Note) Other revenue includes revenue from real estate leasing.

Real Estate andSolar Power
Generation
Business－

Total
28,472,944－

18,546,519

76,511

105,941

76,511

47,125,405

234,645251,243

311,157

47,376,648

For the fiscal year ended March 31, 2023
(Thousand yen)Foundation
Business

Concrete
Secondary ProductBusiness

Product sales
4,529,468
21,694,442
Construction contract
23,683,384
2,753,882
sales
Other sales
13,15012,238
Revenue from contracts
28,226,003
24,460,563
with customers
Other revenue (Note)
6,926－
Net sales to outside
28,232,929
24,460,563
customers(Note) Other revenue includes revenue from real estate leasing.

Real Estate andSolar Power
Generation
Business－

Total
26,223,910－

26,437,266

58,182

83,571

58,182

52,744,748

234,400

241,327

292,583

52,986,076(Segment Information, etc.)[Segment Information]
1. Overview of reportable segments(1) Method of determining reportable segments
The Company’s reportable segments are constituent units of the Group for which separate financial
statements are available, and which are subject to regular review by the Board of Directors for the purpose ofdetermining the allocation of management resources and assessing business performance.
The Company is organized based on the three business units of Foundation Business, Concrete Secondary20

Product Business, and Real Estate and Solar Power Generation Business, each of which formulates
comprehensive strategies and engages in business activities.
Accordingly, the Company classifies its operations into three reportable segments: Foundation Business,
Concrete Secondary Product Business, and Real Estate and Solar Power Generation Business.
(2) Types of products and services belonging to each reportable segment
The Foundation Business segment manufactures and sells piles, as well as performing piling and soil
stabilization works. The Concrete Secondary Product Business segment focuses primarily on the manufacture,sale, and commissioned testing and research of poles, civil engineering products, and other concrete secondary
products and on the construction of poles and civil engineering products. The Real Estate and Solar Power
Generation Business segment engages in renting real estate and generating electricity from solar energy.
2. Method of calculating net sales, income or loss, assets, and other items by reportable segment
Accounting policies for reportable segments are generally the same as those described in “Significant
Accounting Policies for Preparation of Consolidated Financial Statements” above.
Income for each reportable segment is based on operating profit, and inter-segment revenues and transfers
are based on market prices.

21

3. Information on net sales, income or loss, assets, and other items by reportable segment
For the previous fiscal year ended March 31, 2022
Reportable segment
Concrete Real Estate andFoundation Secondary Solar PowerBusiness
Generation
Product
Business
Business
Net sales
Net sales to outside 18,995,549 28,069,941
customers
Inter-segment net sales
6,578－
or transfers
Total
19,002,128 28,069,941
Segment income
Segment assets

227,029

2,551,001

19,273,009 33,875,945

Total

311,157 47,376,648
－

6,578

311,157 47,383,227
182,5782,960,608(Thousand yen)Amounts
recorded intheAdjustment consolidated(Note 1)
financialstatements(Note 2)
－ 47,376,648(6,578)－(6,578) 47,376,648(1,732,556)

1,228,052

1,600,742 54,749,697 20,253,698 75,003,395

Other items
Depreciation

1,019,485

953,808

64,9572,038,251

81,0612,119,312－

56,928－56,928－56,928

Impairment losses

66,441

262,912－329,354－329,354

Increase in property,
plant and equipment andintangible assets

568,448

942,102

2,789

1,513,339

123,324

1,636,663

Amortization of
goodwill(Notes)1. The adjustments are as follows:(1) The adjustment for segment income mainly includes corporate expenses. Corporate expenses mainly
include general and administrative expenses, not attributed to reportable segments.
(2) The adjustment for segment assets principally represents corporate assets. Corporate assets mainly
include assets not attributed to reportable segments, such as funds on hand to prepare for the settlementof accounts (cash and deposits), funds for long-term investment (investment securities), and assets related
to administrative divisions.
(3) The adjustment for depreciation represents depreciation of corporate assets not allocated to reportablesegments.
(4) The adjustment for increase in property, plant and equipment and intangible assets pertains to corporate
assets not allocated to reportable segments.
2. Segment income is adjusted to the operating profit in the consolidated statement of income.

22

For the fiscal year ended March 31, 2023
Reportable segment
Concrete Real Estate andFoundation Secondary Solar PowerBusiness
Generation
Product
Business
Business
Net sales
Net sales to outside 28,232,929 24,460,563
customers
Inter-segment net sales
1,596－
or transfers
Total
28,234,525 24,460,563
Segment income (loss)
Segment assets

515,730

660,246

25,265,513 29,144,774

Total(Thousand yen)Amounts
recorded intheAdjustment consolidated(Note 1)
financialstatements(Note 2)

292,583 52,986,076
－

1,596

292,583 52,987,672
184,086

1,360,063－ 52,986,076(1,596)－(1,596) 52,986,076(1,588,716)(228,653)

2,951,939 57,362,227 19,544,087 76,906,314

Other items
Depreciation

833,587

888,825

56,5391,778,952

80,987

1,859,940

Amortization of
56,92856,92856,928－－－
goodwill
Increase in property,
plant and equipment and594,840
785,250
194,841 1,574,931
31,629 1,606,561
intangible assets(Notes)1. The adjustments are as follows:(1) The adjustment for segment income (loss) mainly includes corporate expenses. Corporate expenses
mainly include general and administrative expenses, not attributed to reportable segments.
(2) The adjustment for segment assets principally represents corporate assets. Corporate assets mainly
include assets not attributed to reportable segments, such as funds on hand to prepare for the settlementof accounts (cash and deposits), funds for long-term investment (investment securities), and assets related
to administrative divisions.
(3) The adjustment for depreciation represents depreciation of corporate assets not allocated to reportablesegments.
(4) The adjustment for increase in property, plant and equipment and intangible assets pertains to corporate
assets not allocated to reportable segments.
2. Segment income (loss) is adjusted to the operating profit in the consolidated statement of income.
4. Information on impairment losses of non-current assets and goodwill by reportable segment
For the previous fiscal year ended March 31, 2022
(1) In the Foundation Business segment, the Company reduced the book value of assets held for sale to theirrecoverable value.
The amount of the said impairment loss reported during the fiscal year under review was 26,741 thousandyen.
(2) In the Concrete Secondary Product Business segment, the Company reduced the book value of non-current
assets in the Myanmar subsidiary to their recoverable value.
The amount of the said impairment loss reported during the fiscal year under review was 262,912 thousandyen.
(3) In the Foundation Business segment, the Company reduced the book value of assets in subsidiaries to theirrecoverable value.
The amount of the said impairment loss reported during the fiscal year under review was 39,700 thousand
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yen.
For the fiscal year ended March 31, 2023
There is no relevant information.

(Per Share Information)
For the fiscal year ended
March 31, 2022

For the fiscal year ended
March 31, 2023

Net assets per share (yen)653.95643.71

Basic earnings (loss) per share (yen)

15.63(8.07)

Not presented as there
were no potential shares.

Not presented as there
were no potential shares.

Diluted earnings per share

Note: Basic earnings (loss) per share was computed based on the figures below.
For the fiscal year ended
March 31, 2022

For the fiscal year ended
March 31, 2023

876,336(439,196)－－

Profit (loss) attributable to owners of parent
related to common shares (thousand yen)

876,336(439,196)

Average number of common shares during theperiod (thousand shares)

56,081

54,402

Profit (loss) attributable to owners of parent(thousand yen)Amount not attributable to common shareholders(thousand yen)

(Significant Events after Reporting Period)(Unauthorized access and cyberattack on Company servers)
On May 5, 2023, the Company found evidence of unauthorized third-party access to Company servers andsubsequently confirmed that the Company was victim to a ransomware infection.
We have reported the incident to, and are consulting with, law enforcement and other relevant bodies, and are
currently investigating the cause of the incident and the extent of the damage together with the guidance andcooperation of external IT security experts.
We will promptly disclose as such should it become apparent that the incident will have a significant impact on
the Company’s financial position and operating results for the next fiscal year.

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