Note: This document is a translation 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.

February 13, 2024
Company: TODA CORPORATION
Representative: Seisuke Otani, President and Representative Director(Securities Code: 1860 TSE Prime Market)
Contact: Toshiyuki Kubodera, General Manager, Financial & IR Div.
(Phone: 03-3535-1357)

Notice Concerning Recording of Extraordinary Losses and Revision of Earnings Forecasts

TODA CORPORATION (the “Company”) hereby announces that the Company has recorded extraordinary
losses for the fiscal year ending March 31, 2024 (April 1, 2023 through March 31, 2024) as follows. Inaddition, the Company has revised the earnings forecasts (consolidated and non-consolidated) for the fiscal
year ending March 31, 2024, which were announced on May 15, 2023.
1. Recording of Extraordinary Losses
In the “Update Concerning Goto City Offshore Wind Power Generation Project” released on January 13,2024, the Company announced that as a result of landing one of the three wind turbines already installed
offshore (Units 1-3) and conducting quality assurance inspections, we have determined that it will be difficult
to ensure the long-term integrity and that the remaining two will also be landed and reconstructed.
After reviewing the impact of the reconstruction on our full year consolidated financial forecasts, theCompany has decided to record an extraordinary loss of approximately ¥7.8 billion in its non-consolidated
accounts for the fiscal year ending March 31, 2024, as reconstruction costs, etc. In its consolidated accounts,
an extraordinary loss of approximately ¥5.4 billion has been recorded after adjusting for internal transactions.
Impairment losses
Non-consolidated
Consolidated¥2.2 billion¥2.2 billion

Provision for losses onenvironment and energy
business¥5.6 billion¥3.2 billion

Total¥7.8 billion¥5.4 billion

These amount have been recorded in the third quarter financial results for the fiscal year ending March 31,2024.

2. Revised Earnings Forecasts(1) Consolidated forecasts for the fiscal year ending March 31, 2024 (April 1, 2023 through March 31, 2024)
Net sales

OperatingincomeOrdinary
incomeNet income
attributable to owners Earnings per
shareof the parent

¥ mil

¥ mil

¥ mil

¥ mil¥

Forecasts to be revised (A）（May 15, 2023）

540,000

16,00019,50019,50069.92

New forecasts (B)521,000

15,50021,30013,60043.94

Change (B-A)(19,000)

(500)

1,800

(5,900)

(3.5)

(3.1)

9.2

(30.3)

547,155

14,13519,03910,995

Change (％)(Reference)
Results of the previous fiscal
year

35.64

(2) Non-Consolidated forecasts for the fiscal year ending March 31, 2024 (April 1, 2023 through March 31,2024)
Net sales

OperatingincomeOrdinary
incomeNet income

Earnings pershare

¥ mil

¥ mil

¥ mil

¥ mil

¥

Forecasts to be revised (A）（May 15, 2023）

440,000

12,50016,00018,20058.72

New forecasts (B)420,000

12,50017,00011,70037.80

Change (B-A)(20,000)

0

1,000(6,500)

(4.5)

0

6.3

(35.7)

465,451

9,524

13,5896,623

Change (％)(Reference)
Results of the previous fiscalyear

21.47

3. Reason for the Revision(1) Reason for the revision in the non-consolidated forecasts
Net sales are expected to be ¥20.0 billion lower than the previous forecasts (¥5.0 billion forarchitectural construction business and ¥15.0 billion for civil engineering business), mainly due tothe fact that the progress of large-scale construction projects in the domestic construction businessdid not reach the initial projection.
Gross profit is expected to decrease by ¥2.0 billion due to the downward revision of net sales inthe domestic construction business, but the profit margin on completed construction contracts isexpected to remain almost unchanged at 11.3% (9.1% for architectural construction business and16.5% for civil engineering business), compared to the previous forecasts of 11.2% (9.0% forarchitectural construction business and 16.2% for civil engineering business).
Operating income is expected to remain unchanged from the previous forecasts due to a decreaseof ¥2.0 billion in selling, general and administrative expenses.
Ordinary income is expected to exceed the previous forecasts by ¥1.0 billion due to higher-thanexpected dividend income from investment securities holdings and other factors.
Net income is expected to be ¥6.5 billion lower than the previous forecasts due to theextraordinary losses described in 1. above.
(2) Reason for the revision in the consolidated forecasts
The forecasts have been revised for the same reason as for the non-consolidated forecasts.

4. Dividend Forecasts
The Company’s basic policy is to distribute profit based on business results and the business environment
after giving consideration to the provision of continuous and stable dividends to shareholders and the need tosecure sufficient retained earnings essential for improving the Company’s competitiveness and its financialposition.
Although we have decided to revise our earnings forecasts downward, from the perspective of “maintaining
a dividend on equity (DOE) ratio of 2.5% or more”, there is no change to our fiscal year-end dividend forecasts,
and we plan to keep a dividend of ¥28 per share (including an interim dividend of ¥14 per share paid in
December 2023) for the fiscal year ending March 31, 2024.

(Note) The above forecasts are based on information available at the time of the release of this document.
Actual results may differ from the forecasts due to various factors.
End