Financial Briefing for the Second Quarterof the Fiscal Year Ending March 2023

Progress towards Compliance with thePrime Market’s Continued Listing Criteria
November 25, 2022

1. Summary of results
59,814 million yen (+28,250 million yen year-on-year)

Consolidatedorderbalance

The order balance rose 28,250 million yen from the corresponding quarter of the previous fiscal year to 59,814
million yen thanks to the receipt of orders for multiple large projects.
As a result, the construction balance carried over to the next fiscal year rose 21,391 million yen from the end of
the previous fiscal year to 91,269 million yen. Reference: Construction balance carried over from previous fiscal year + order balance -(Millions of yen)completed construction = Construction balance carried over to next fiscal year

150,000

59,81439,889120,000

31,56390,00038,42236,50132,29091,26967,216

66,48969,878

Fiscal year
ended March 2021

2021/9Fiscal year ended
March 2022

60,00030,000Consolidated
operatingincomeOperating income fell 17.1% from the corresponding quarter of the previous fiscal year to 931 million yen due
to rising construction costs reflecting rapid and substantial increases in the cost of building materials.
(-17.1% / -1.0 point from the corresponding quarter of the previous fiscal year)
6.0%

2,000

3.6%

3.4%

2.4%
3.0%

1,000

500

2022/9931 million yen (consolidated operating margin: 2.4%)(Millions of yen)

1,500

■Carried-overconstruction
balance■Order balance■Completed
construction
balance

993

1,124

931

2020/92021/92022/9Operating income
Operating margin

0.0%

0*Figures in this document have been rounded down to the nearest million yen.

2

2-1. Trend in consolidated order balance
The order balance rose 28,250 million yen from the corresponding quarter of the previous
fiscal year to 59,814 million yen thanks to the receipt of orders for large projects.
(Millions of yen)

75,20080,00071,453

12
4,648

19
6,662

62,90659,81427
5,672

60,00016,95810
3,240
18,9180.0%

17,7360.0%
40,00027,88113
2,619
20,000

5,652

9.0%

0.1%
28.2%
9.4%

11,69739,470

62.8%

20.3%
19,595

0.0%

6.2%

5.4%

22.6%

9.3%

31,563
10
3,041

0.0%

10,102

26.5%

0.0%
9.6%

16.9%
45,85364.2%

46,46053,581

71.2%

77.7%

37.1%
16,813

70.2%

53.3%

0

2020/9Fiscal year ended
2021/3期
March
2021

Fiscal year ended
2022/3期
March
2022

2021/9■Residential ■Non-residential ■Renovation ■Other

2022/9Fiscal year ending

2023/3期（予想）March2023 (outlook)

Breakdown*The classification standards changed as of the second quarter of the fiscal year ending March 2023. Figures for previous fiscal years have been adjusted in line with the new classification standards.

32-2. Trend in consolidated order balance
By application*1 The order balance for the “Condominiums and apartmentbuildings” category rose.
2020/92021/9

Breakdown
構成比
Condominiums and apartment
マンション・集合住宅
buildings

Logistics warehouses and factories
物流倉庫・工場

Commercial facilities
商業施設
Government buildings and offices
庁舎・オフィス

Education, culture and sports
教育・文化・スポーツ
Event halls
イベントホール
Medical, welfare and elderly housing
医療・福祉・高齢者住宅

Other
その他
Total
合計

(Millions of yen)2022/9

Breakdown
構成比

Breakdown
構成比20,484 73.5%

18,926 60.0% 47,121 78.8%

1,832

6.6%

5,712 18.1%

5,790

9.7%

848

3.0%

2,284

7.2%

4,049

6.8%

1,570

5.6%

2,678

8.5%

1,877

3.1%

781

2.8%

1,049

3.3%

525

0.9%

2,197

7.9%

879

2.8%

248

0.4%

142

0.5%

21

0.1%

179

0.3%

23

0.1%

10

0.0%

20

0.0%

27,881 100.0%

31,563 100.0%

Governmentbuildings and offices

2022/9Logistics
warehouses
and factories

Breakdownbyapplication

2022/9

Breakdown
構成比

Breakdown
構成比

Breakdown
構成比

Kanto
関東

15,092 54.1%

14,533 46.1%

24,856 41.5%

Kinki
近畿

7,048 25.3%

8,277 26.2% 21,642 36.2%

Chubu
中部

1,707

6.1%

2,346

7.4%

5,945

9.9%

Tohoku
東北

375

1.3%

183

0.6%

2,734

4.6%

Chugoku and Shikoku
中国・四国

686

2.5%

3,399 10.8%

2,843

4.8%

1,791

3.0%

Kyushu九州

2,972 10.7%

2,823

8.9%

Total
合計

27,881 100.0%

31,563 100.0%

Condomini
ums andapartment
buildings

59,814 100.0%

By region Orders in the “Kinki” and “Chubu”
categories rose.
(Millions of yen)2021/9Other

Commercial
facilities*1 Renovation work is classified on the basis of building application.

2020/9Event halls
Medical, welfare and elderly
housing

Education, culture and sports

59,814 100.0%

KyushuChugoku and Shikoku
Tohok
Chubu

2022/9

Breakdown
by region

Kinki*The classification standards changed as of the second quarter of the fiscal year ending March 2023. Figures for previous fiscal years have been adjusted in line with the new classification standards.

4

Kanto

3. Trend in consolidated sales
Sales rose 6,104 million yen from the corresponding quarter of the previous fiscal year to 38,818 million yen
as a result of increases in the construction balance carried over from the previous year and in the orderbalance.
(Millions of yen)

80,00070,90069,645

6,912

18,37018,93856,49060,000846
5,723

14,63040,00027,311429
2,370
20,000

776

874
5,780

1.6%

7,570

16,941

32,713

10.1%

430
2,216
9,076

8.7%

27.7%

1.5%

1.3%

38,818

8.3%

402
3,543

26.4%

10,762

1.3%

25.9%

6.8%

62.5%

27.7%

44,61935,289

9.8%

1.0%
9.1%

64.0%

26.7%
44,271

62.4%

27.7%
24,10920,990

62.0%

1.1%

62.2%

64.2%

0

2020/9Fiscal year ended
2021/3期
March 2021

Fiscal year ended
2022/3期
March 2022

2021/9■Residential ■Non-residential ■Renovation ■Other

2022/9Fiscal year ending
2023/3期（予想）
March 2023 (outlook)

Breakdown*The classification standards changed as of the second quarter of the fiscal year ending March 2023. Figures for previous fiscal years have been adjusted in line with the new classification standards.

5

4. Trend in gross margin on consolidated sales
Gross margin on sales fell 1.6 points from the corresponding quarter of the previous fiscal year to 6.9% due
to rising construction costs reflecting rapid and substantial increases in the cost of building materials.
(Millions of yen)

10,000

9.7%

9.2%

10.0%

8.7%
8,000

7.4%

8.5%

8.0%

6.9%
6,051

5,455

6,000

4,000

2,520
2,000

108
326
542
1,542

0

2020/9

212

210
684

805

899

1,239

4.3%

5,220
192

3.9%
14.8%

12.9%
22.7%
21.5%

6.0%

2,772
110
261
314

3,197

4.0%

4,258

2,085

61.3%
Fiscal year ended
2021/3期
March
2021

11.3%

9.4%
11.4%

58.6%

817

3.5%

14.9%

2,667

3.7%

98
373
162

14.0%

6.1%
70.3%

2,032

75.2%
Fiscal year ended
2022/3期
March 2022

2021/9■Residential ■Non-residential ■Renovation ■Other

2022/9

4.0%

547

15.7%
10.5%
3,662

2.0%

70.1%

76.2%
Fiscal year ending
2023/3期（予想）
March 2023 (outlook)

Breakdown*The classification standards changed as of the second quarter of the fiscal year ending March 2023. Figures for previous fiscal years have been adjusted in line with the new classification standards.

6

3.7%

0.0%

5. Consolidated balance sheet
Current assets rose as a result of growth in trade receivables (notes receivable, unpaid income from completed
construction, and contract assets) and other factors. Current liabilities rose as a result of growth in accounts
payable (accounts payable for construction work and electronically recorded liabilities) and other factors. Increase
in retained earnings, increase in net assets

 Assets +1,010

 Liabilities and net assets +1,010 (Millions of yen)

(Millions of yen)

Total assets

Total assets

48,662

49,672

Cash and deposits-2,572

Trade receivables

3,504

Current assets

1,795
3,689
Fiscal year ended
2022/3期
March 2022

44,151
2,240

974

Tangible and intangible fixed
assets-10

Investments and other assets

46■Current assets■Tangible and intangible fixed assets■Investments and other assets

49,672

48,662

25,792

43,176

Total liabilities
and net assets

Total liabilities
and net assets

20,629Accounts payable

829

Advances received on
construction in progress

443

Income taxes payable-350

Current liabilities

728

Interest-bearing debt

-60

Fixed liabilities-27

Retained earnings

255

Net assets

309

26,521

2,212

20,938■Current liabilities■Fixed liabilities■Net assets

1,785
3,736
Fiscal year ended
2022/3期
March 2022

2022/9

Capital adequacy ratio

72022/9Fiscal year ended
March 2022

2022/9

42.4%

42.2%

6. Consolidated cash flows
The balance of cash and cash equivalents at the end of the quarter fell 2,572 million yen to 4,748 million yen as a result offactors including growth in trade receivables (notes receivable, unpaid income from completed construction, and contract
assets) and payments of income taxes and dividends. We expect the balance of cash and cash equivalents at the end of the
fiscal year to be on par with the balance at the end of the previous fiscal year.
(Millions of yen)
8,000

7,320

6,000

4,748

-32

-1,916-623

4,000
Current net profit before
income taxes and otheradjustments

2,000

Balance of
cash andcash
equivalents
at thebeginning of
the fiscal
year

957

Trade receivables-3,504

Accounts payable

829

Advances received on
construction in progress

443

Income taxes-570

Fixed assets-72

Borrowing-106

Investment securities-1

Dividend payments-415

Balance of
cash andcash
equivalents
at the end of
the quarter0
Fiscal year ended
2022/3期
March
2021

Sales営業CF
cash flow

Investment
投資CF
cash flow

8

Financing
cash flow
財務CF

Fiscal2022/9
year ended
March 2022

7. Factors affecting consolidated operating income
Consolidated operating income fell 192 million yen from the corresponding quarter of the previous fiscal
year as a decline in construction profit; an increase in selling, general and administrative expenses; andother factors offset an increase of 400 million yen due to growth in the completed construction balance.
Completed
construction
balance(Millions of yen)

2,000

Construction
profitOther

Selling,
general andadministrative
expenses

Operating margin
3.4%
Operating margin
2.4%

1,124

931

400

1,000

-495

-10

Decrease in gross margin on sales: -105

-86
Increase in selling, generaland administrative
expenses: -86

Operating income: -192
02021/92022/99Reference: Soaring cost of building materials(September 2022)
Excerpted from “Soaring Cost of Building Materials,” published by the Japan Federation of Construction Contractors

The construction industry has been seeing unprecedented cost increases and delivery delays across a broad range of materials due to the impactsof worldwide raw material shortages and price hikes since last year. Daisue is particularly susceptible to the impact of this trend on deformed steel
bars, fresh concrete, and formwork plywood, all of which we use in large quantities in condominium projects, and on H-shaped steel, which we use
in large quantities in the steel structures of logistics warehouses and other buildings.
The cost of building supplies used in construction projects is soaring due to the effects of worldwide
shortages and inflation affecting raw materials and energy sources such as crude oil.
Production and supply
constraints due to the
COVID-19 pandemic

Tightness and delays in
distribution due tocontainer shortages andother factors

Rising demand forsemiconductors aspart of the transition
to EVsIncreased cost of capital
investment due to CNcomplianceDisasters
affectingproduction
facilities

The cost of construction materials has risen 23% compared to January 2021.
(Civil engineering materials have risen 17%, while building materials have risen 26%.) (As estimated by theConstruction Research Institute)

Trend in the construction material price index from (Tokyo) January 2021 to August 2022

Ukraine crisis

Deformed steel bars

H-shaped steel

Steel sheet and plate

Flat decking

Steel sheet pile

U-shaped steelreinforced concrete

Plywood for
concrete forms

Cedar KD columns(2011 average = 100)

Overall (on average), material prices are up 23%.
Civil engineering (average)

Building materials (average)

Material prices up 17%

Material prices up 26%

Compiled based on materials from the Construction Research Institute (dated September 12).

If we assume that material costs account for 50% to 60% of the average project’s cost, overall
construction costs (on average), including labor, temporary facilities, and other expenses, have risen
by 11% to 14% over the last 19 months*3.
*3: For example, the 5 to 6 billion yen of raw material costs in a 10 billion yen construction project has risen to 6.1 to 7.4 billion yen (onaverage), while civil engineering costs have risen 9% to 10%, and building material costs have risen 13% to 16%.

Stainless steel

Aluminum base
metal

Plate glass

Straight asphalt

 Apart from price increases, delivery delays are affecting equipment and some building materials, impacting
construction schedules. Supplies of some civil engineering materials (high-tensile bolts, etc.) are constrained
as well.
 In addition to impacting construction schedules, delivery delays affecting materials and other supplies are
driving increases in the cost of procuring alternative materials so that properties can be provisionallydelivered.
 The Ukraine crisis may cause delivery delays and supply constraints for an even broader array of construction
materials.
Materials and equipment which member companies recognize as being affected by delivery delays

Used in finishing materials as
part of fittings and metalwork
and in facility pipes

600 V vinyl insulated
wire

The cost of aluminum products used inshaped aluminum material, aluminum
sheet, and other products (sashes,
louvers, etc.) has risen 10%*2.

Carbon steel pipes

Efforts to shift the cost to asphalt
mixtures haven’t gone as planned, androad paving companies have foundtheir profits under extreme pressure*2.

Hardened PVC pipes

Building frames << Iron shock, etc.
 BCP (columns used in steel
structures) Truss-reinforced deck forms
 Expansive concrete Existing concrete piles

DieselFinishing Wood fittings and wood flooring << Wood shock  Automatic doors << Lockdowns in China
 Steel sheets with a baked fluororesin finish << Shortages of fluororesin materials due to rising
semiconductor demand and environmental measures Metal heat-insulating sandwich panels (logistics warehouses and production facilities)
 Heat-insulating foamed urethane panels << Hurricane damage sustained by an HFO and foaming agent
manufacturer  Glass Fireproof and flameproof shutters, screens, and other products that use flame-resistant cloth << Difficulty
procuring flame-resistant cloth manufactured in Russia<< Semiconductor shortages,

Equipment resin raw material shortages, etc.
 Electrical equipment

 Air-conditioning equipment

 Sanitary and plumbing equipment

 Incoming and Automatic fire alarm systems
transforming Uninterruptible power systemequipment(UPSs)
 High-voltage cables  Light electrical equipment
 Lighting fixtures
 Inverter boards
 Telephones
 Central monitoring Generators
equipment Boards
 Resin connectors

 Refrigerators and freezers
 Air-conditioning Chillers (cooling water
systems
circulators)
 Pumps
 Package air conditioners (PACs)  Boilers
 Automatic control boards
 Air conditioners

 Bidet-style toilets
 Kitchenequipment Compressors
 Sprinkler heads

Note: Items shown in red in the figure were previously subject to anorder stoppage or similar disruption.

Cost increases for materials: Comparison of prices listed in the January 2021 (Tokyo) and October 2022 (Tokyo) editions of “Construction Prices,”
published by the Construction Research Institute. *1: Comparison of the midpoint of high and low values for January 2021 from the Japan Metal Daily
with values for September 16, 2022. *2: Information from member companies.

10 Elevators and related equipment
 Passenger elevators  Freight elevators
 Mechanical parking garages (tower-style parking facilities)

 Hot water heaters
 Refrigeration andfreezer equipment

8-1. Principal completed and ordered construction(April 2022 to September 2022)

Completed construction
ClientBuilding

Prefecture

Use
Logistics warehouses and factories
Condominiums and apartmentbuildings (renovation)

Tokyo Tatemono Co., Ltd.

T-LOGI Kazo

Saitama Prefecture

K's court Co., Ltd.

Chatelet Shinanomachi

Tokyo

Tokyu Land Corporation
Sotetsu Real Estate Co., Ltd.
Nippon Steel Kowa Real Estate Co., Ltd.

Branz City Shonandai

Kanagawa
Prefecture

Pressance Corporation

Pressance Legend Osaka-Shinmachi Tower

Osaka Prefecture

FP Corporation

Pico House Building 5

Hyogo Prefecture

Anabuki Kosan Inc.

AlphaStates Imazatocho

Kagawa Prefecture

Ordered projects
ClientCondominiums and apartmentbuildings
Condominiums and apartmentbuildings
Dormitory and Company Housing
Condominiums and apartmentbuildings*Joint venture project

Building (project)

Prefecture

Use

Miyamotocho District 2 Improvement
Program for Select Structures
Joint Contractor Conference

Miyamotocho District 2 Improvement
Program for Select Structures*1

Gunma Prefecture

Condominiums, apartment buildings,
and commercial facilities

Tokyu Land Corporation

2-chome Hamada Project (Mihama-ku,
Chiba-shi, Chiba Prefecture)

Chiba Prefecture

Logistics warehouses and factories

Daikyo Incorporated

Lions Kakuozan

Aichi Prefecture

Sekisui House, Ltd.

Grand Maison Kitahorie 2-chome Project

Osaka Prefecture

Seino Transportation Co., Ltd.

Amagasaki Branch, Seino Transportation
Co., Ltd.

Hyogo Prefecture

Misawa Homes Chugoku Co., Ltd.

Albio Garden Shin-Kurashiki Ekimae

OkayamaPrefecture*In order of prefectural code11

Condominiums and apartmentbuildings
Condominiums and apartmentbuildings
Logistics warehouses and factories(renovation)
Condominiums and apartmentbuildings

8-2. Principal completed construction(April 2022 to September 2022)

Logicross Funabashi

Branz City Shonandai©Hiroshi Ueda (Hiroshi Ueda Architectural
Photography Studio)

Chatelet Shinanomachi

Pressance Legend Osaka-Shinmachi Tower

T-LOGI Kazo

12

9. SDG initiatives (from the Medium-term
Business Plan)
Area

Example initiative

Resolvingenvironmental Extending theservice life ofproblems

existing buildings

E

Target

SDG targets

Value of update
and renovation
orders2021/92022/9Performance Performance

2.0 billion 2.8 billionyenyennvironment

Resolving social
issuesS

ocial

Corporate
governanceGovernance

Making existingbuildings more
resilient

Number ofearthquake
resistancerenovation orders
received

1

2

Conducting R&D
into construction
technologies

Number of newtechnology
development
initiatives

0

1

Improvingproductivity

Per capita sales
improvement rate

－

－

7

7

Number of
educational
Raising compliancesessions forawareness
officers andemployees
1310. Joint development of a snake-shaped robot for
use in unmanned inspections of below-grade pits
Working with the University of Electro-Communications, Daisue developed asnake-shaped robot for use in automatic inspections of belowgrade pits at construction sites.
Inspections of below-grade pits in which electric wiring and water and sewer
equipment are located impose substantial physical and psychological burdens on
inspectors due to low ceilings, the need to pass through narrow access ports asthey move between areas, high humidity, and the designation of pits asasphyxiation hazards due to high concentrations of carbon dioxide.
The newly developed snake-shaped robot has functionality both for performing
two-dimensional patrols, in which it moves under its own power tophotograph conditions inside pits while avoiding obstacles, and for passing

through access ports by means of autonomous, three-dimensional
movement in line with an appropriate route planning and speed control.
Inspectors’ work environment can be improved by eliminating theneed for them to perform visual inspections inside buildings’ below-grade pits. In
addition, the robot’s ability to operate autonomously eliminates the need forremote control, and it is expected to streamline work as a result.
We plan to start using the robot at our worksites in April 2023 and to offer it for
general sale around 2025.
Going forward, we will continue to work to improve productivity while making iteasier for employees to do their jobs.

14

Progress towards Compliance with
the Prime Market’s Continued
Listing Criteria

Compliance with the Prime Market’sContinued Listing Criteria
2021/6(Transitionreferencedate)*1

Fiscal year
ended March
2022*2Marketcapitalization

6.48 billion yen 8.63 billion yen

Trading value

9 million yen
per day

Fiscal year
September 2022*3 ending March
2023*4

Fiscal year
ending March2024

Fiscal year
ending March
2025
At least 10
billion yen

9.99 billion yen

At least 20
million yen perday

20 million yen 50 million yen perper dayday

Reference: Progress towards targets listed in our compliance plan
Dividend ratio

―

34.6%

―

ROE

―

9.1%

―

At least 10%

ROIC

―

9.1%

―

At least 10%

Consolidated sales―

69.6 billion yen

38.8 billion yen

70.9 billion yen

80 billion yen

Consolidated
current net profit(Consolidated
operating income)―1.81 billion yen 670 million yen 1.02 billion yen(2.7 billion yen) (930 million yen) (1.5 billion yen)

2.8 billion yen(4 billion yen)

At least 50%*1 From “Primary Decision Results Concerning Compliance with New Market Section Continued Listing Criteria.”*2 Market capitalization has been calculated by multiplying the average final share price on the Tokyo Stock Exchange during the three months leading up to the last
day of the business year by the number of outstanding shares; trading volume has been calculated as the average value from January through December 2021.
The number of outstanding shares as of March 31, 2021, was used to calculate *1 and *2.
*3 Market capitalization has been calculated by multiplying the average final share price on the Tokyo Stock Exchange from July through September 2022 by the
number of outstanding shares as of September 30, 2022, (as calculated by Daisue); trading volume has been calculated as the average value from July 2021
through June 2022.
*4 From “Notice Concerning Revisions to Daisue’s Earnings Forecast and Surplus Dividend” as announced on October 25, 2022.

16

Specific initiative measures
Step 1: Fiscal year ended March 2021 to fiscal year ending March 2025

IssuesPriority investment topics

Amount ofinvestment

Lag in accommodating the DX
Decline in operating margin (risingcost rate)
Expanding the size of orders• DX focusing on construction sites (defensive DX)• Improving productivity through industrialization,
BIM adoption, etc.
• DX in sales-related operations in order toincrease orders(Aggressive DX)• Entry into super-high-rise buildings and superlarge projects worth at least 5.0 to 10.0 billion yen

5.0
billionyen

Step 2: Fiscal year ending March 2026 to 2030
IssuesPriority investment topics

Expanding our business domain• Developing and acquiring zero-energy
Securing sources of profit outsidetechnologies like ZEB, ZEH, and wood
contracting
construction techniques in order to achieve
Complying with ESG and SDGs;
carbon neutrality
contributing to a low-carbon society • Reentering the civil engineering business• Entering the real estate business• Entering the environmental business (renewableenergy, etc.)
17

Amount ofinvestment

5.0
billionyenStrategic growth investment (1) (DX plan overview)
Quickly realizing DX plan formulation, system development, andcompanywide deployment
Giving efforts to increase corporate value top priority and establishing the DX Implementation
Headquarters, which is chaired by the president, on April 1, 2022, in an effort to implement our Mediumterm Business Plan and Vision 2030

Focusing investment on profit centers that yield orders and profits

Sales DX
•

•

•

•

Building DX systems that dramatically
boost quotation speed and estimation
precision
Contributing to customers’ highprecision business planning andexpanding opportunities to be involved
from the business planning stage
Deploying DX systems and increasing
our ability to secure orders in newmarkets
Reducing post-order profit fluctuation
risk through use of the most recent data
to secure reliable profits

Construction DX•••

Streamlining operations by putting inplace mobile environments atconstruction sites and deploying ICT
tools, construction BIM, and otherresources
Establishing structures for handling 100
billion yen projects by increasing per
capita productivity, defined as
construction value
Further improving profitability during theconstruction stage by building VE andCD support systems

18

Design DX•••

Increasing profit through front-loading by
boosting the percentage of jobs forwhich we handle both design andconstruction by enhancing our BIM
design capabilities
Strengthening our ability to participate inlarge-scale construction projects byimproving our ability to offer compelling
proposals to customers through BIM
Improving our ability to secure orders bystrengthening our design capabilities in
the non-residential segment through BIM

Strategic growth investment (2) (DX plan overview
and roadmap)
 Establish a roadmap expressing DX investment benefits for FY2024, the final year of the current Medium-term Business Plan.
 Formulate a DX plan for all domains by October 31, 2022, and determine our approach to new operational processes and datautilization.
 Put in place DX infrastructure and a DX environment in advance so that DX systems can operate in an effective manner.

Current Medium-term Business Plan
FY2022
1Q

FY2023
2Q

Design DX
DX
infrastructureDX
environment
development

DX plan formulation

Construction
DX

Principal DX targets

Sales DX

3Q

4Q

Trial of new
operational
processes
Trial ofconstruction
management app

Systemdesign1Q

FY2024
2Q

3Q

4Q

1Q

FY2025
2Q

System testing
and revisions

Development of sales DX
system

3Q

4Q

1Q

2Q

Full deployment of DX
systems

Companywide rollout of apps, etc., and progressive development and rollout of sitemanagement system

VE/CD simple system rollout + DX systemdevelopment

Full deployment of DX systems

Expansion of construction BIM

Standardization of construction BIM

Development of design BIM platform

BIM testing

Development of platforms for data andsystem interoperation
Companywide mobile
conversion, etc.

Expansion of design BIM
application

Deployment of interoperation platforms

Implementation of new workstyles

Cultivation of employee ICT literacy

Colored arrows indicate when the effects of measures will be felt.

19

Dividend policy

at least 50%

We will adopt a dividend ratio ofstarting with the fiscal year ending in March 2023.

140

75.0%

120

At least 50%65.0%
Dividend ratio

55.0%

100

45.0%
80

34.6%

60

22.1%

40

20

0

11.3%
4.6%
10
Fiscalyear ended
2016/3期
March 2016

5.9%
20

20

Fiscalyear ended
2017/3期
March 2017

Fiscalyear ended
2018/3期
March 2018

Fiscalyear ended
2019/3期
March 2019

35.0%

26.2%

25.0%

7.4%

20

Annual dividend

60
40

40

Fiscalyear ended
2020/3期
March 2020

Fiscalyear ended
2021/3期
March 2021

60

15.0%
5.0%

-5.0%
Fiscalyear ended
2022/3期
March 2022

Fiscalyear ending
2023/3期予想
March 2023 (outlook)* The annual dividend during the fiscal year ending in March 2023 and beyond is determined in accordance with current
quantitative plans. Actual dividend amounts will vary with the extent to which the plans are being achieved.

20

Strengthening governanceCG CodeInitiative

Fiscal year ended Fiscal year ended Fiscal year ended
March 2016
March 2017
March 2022

Already implemented
Transitioning to a corporate structure with an
4
Audit and Supervisory Committee
4-10 (1)

Establishing a Nomination and Remuneration
Committee and ensuring its independence

4-6

Revising operating officer structures (to reflect
officers’ status as contractors rather than employees)

Fiscal year
ending March2023

Fiscal year
ending March2024

Fiscal year
ending March
2025

Complete
Complete
Complete
Introducing aperformancelinked stockcompensation
program

4-2 (1)Introducing a performance-linked compensation
program

4-1 (3)

Formulating a succession plan

Complete

1-2 (4)

Implementing a platform allowing voting rights
to be exercised electronicallyComplete

3-1 (2)Disclosing information and providing materials
in English

Complete for
earnings
summaries

4-8

Ensuring independent outside directors
comprise at least one-third of the Board of
Directors(Formulating a skill matrix)

Complete

4-11 (1)Promoting female directors

Complete

Complete(Gradually increasing the scope of disclosure)

Future initiatives
3-1 (3)

5-1

Scheduledcompletion

Implementing TCFD disclosures

Revitalizing our IR activities

Disclosing
supplemental
end-of-year
financialinformation

Hosting briefings
for institutional
and private
investors

21(Implementing as appropriate)A company that creates spaces rich insecurity and joy

Inquiries concerning this document
Management Strategy Department
DAISUE CONSTRUCTION CO., LTD.
Phone: 06-6121-7127
E-mail: dai-info@daisue.co.jp
The information in this document is based on Daisue’s best judgment as of the time of its
compilation. It should not be construed as representing a commitment or guarantee concerning therealization or implementation of future planned performance or policies.