Highlights of Financial Statements
Fiscal Year Ended March 31, 2009

May 19, 2009

CONTENTS

1. Consolidated Statements of Income (Comparisons with the Previous Term)

3

2. Consolidated Statements of Income (Comparisons with Forecasts)

4

3. Consolidated Balance Sheets

5

4. Consolidated Cash Flows6

5. Other72

1. Consolidated Statements of Income(Comparisons with the Previous Term)(Unit: ¥100 million)

Item

Net Sales
Cost of Sales
Gross Profits

Performance in Performance
this term
previous term

Difference

Percentage
difference

3,275

3,211-64-2.0%s .44 RELATED   .##   )4 SOLUTIONS   #ONSTRUCTION   2,837-54

s #OST OF SALES RATIO 5NCHANGED AT 374-2.3%s Gross profit margin 5NCHANGED AT Main reasons for increase/decrease

Selling, General and Administrative Expenses

220218-2s ! GROWING EXPENSE BURDEN IN CONNECTION WITH NEW INTERNAL SYSTEMS  s /PERATING EXPENSE REDUCTION THROUGH THE IMPLEMENTATION OF VARIOUS MANAGEMENTs improvement measures  s 0ERSONNEL COST REDUCTION BY TRANSFERRING PERSONNEL FROM SALES AND ADMINISTRATIVEs departments to construction departments (-6)

Operating Income

162156-6-3.7%s /PERATING MARGIN &ROM  TO  DOWN  PERCENTAGE POINTS

Other Income

2117-4s !MORTIZATION OF NEGATIVE GOODWILL  0REVIOUS TERM Other Expenses

21-1-50.0%

s ,OWER FOREIGN EXCHANGE LOSSES



171-11-6.0%

5-4-44.4%

s 'AIN ON SALES OF FIXED ASSETS  0REVIOUS TERM  4HIS TERM s 2EVERSAL OF ALLOWANCE FOR DOUBTFUL RECEIVABLES  0REVIOUS TERM  4HIS TERM s 'AIN ON PAYBACK OF INSURANCE PAYMENTS  0REVIOUS TERM  4HIS TERM Recurring ProfitExtraordinary Profits 2ECURRING PROFIT MARGIN &ROM  TO  DOWN  PERCENTAGE POINTS712571.4%

s 7RITE DOWN ON INVESTMENTS IN SECURITIES  0REVIOUS TERM  4HIS TERM ¬¬¬s ,OSS ON DISPOSALS OF FIXED ASSETS  0REVIOUS TERM  4HIS TERM s 3PECIAL PAYMENTS ON EMPLOYEES RETIREMENT BENEFITS  0REVIOUS TERM  4HIS TERM 116100-16

s .ET PROFIT MARGIN &ROM  TO  DOWN  PERCENTAGE POINTSExtraordinary LossNet Income4HIS TERM *Stated figures have been rounded down to the first full unit.

32. Consolidated Statements of Income(Comparisons with Forecasts)(Unit: ¥100 million)

Item

Net Sales
Cost of Sales
Gross Profits

4ARGETS

Performance
this year

Difference

Percentage
difference 3,211





s .44 RELATED   .##   )4 SOLUTIONS   #ONSTRUCTION   2,837



s #OST OF SALES RATIO &ROM  TO  DOWN  PERCENTAGE POINTS374

s 'ROSS PROFIT MARGIN &ROM  TO  UP  PERCENTAGE POINTS)

Main reasons for increase/decreaseSelling, General and Administrative Expenses

218s .EW INTERNAL SYSTEMS  s /PERATING EXPENSE REDUCTION THROUGH THE IMPLEMENTATION OF VARIOUS MANAGEMENTs IMPROVEMENT MEASURES  s 0ERSONNEL COSTS WERE REDUCED BY TRANSFERRING PERSONNEL FROM SALES AND ADMINISTRATIVEs DEPARTMENTS TO CONSTRUCTION DEPARTMENTS  Operating Income

140156

s /PERATING MARGIN &ROM  TO  UP  PERCENTAGE POINTSOther Income10177s !DDITION IN NEGATIVE GOODWILL AND INCREASE IN INTEREST DIVIDENDS LEASING INCOMEOther Expenses011—171Extraordinary Profit

05—Extraordinary Loss

127100Recurring Profit

Net Income*Stated figures have been rounded down to the first full unit.

4—s 2ECURRING PROFIT MARGIN &ROM  TO  UP  PERCENTAGE POINTS

s 2EVERSAL OF ALLOWANCE FOR DOUBTFUL RECEIVABLES GAIN ON PAYBACK OF INSURANCE PAYMENTS ETCs 7RITE DOWN ON INVESTMENTS IN SECURITIES

s .ET PROFIT MARGIN &ROM  TO  UP  PERCENTAGE POINTS

3. Consolidated Balance Sheets
ASSETSLIABILITIES AND NET ASSETS(Unit: ¥100 million)(Unit: ¥100 million)+35-352,2412,2412,206

2,206

Current
Liabilities(-19)

Current Assets

1,473647

s !CCOUNTS RECEIVABLETRADE-93

s #ASH AND CASH EQUIVALENTS+54s !CCUMULATED COST OF
CONSTRUCTION IN PROGRESS+20(-33)
s !CCOUNTS PAYABLETRADE-57s )NCOME TAXES PAYABLE+241,454

Long-Term
Liabilities

89(-15)s .EGATIVE GOODWILL-9s !CCRUED SEVERANCE INDEMNITIES-6(-16)

Fixed Assets

768

s 4ANGIBLE FIXED ASSETS

61474(+13)-8s )NTANGIBLE FIXED ASSETS
.EW INTERNAL SYSTEMS ETC

+22s )NVESTMENT SECURITIES-18

s /THER-12

Net Assets

752
1,504s 2ETAINED EARNINGS+73

s 4REASURY STOCK AT COST

-52s 6ALUATION AND
TRANSLATION ADJUSTMENTS-81,517%QUITY RATIO&ROM  TO 

As of March 31, 2008

As of March 31, 2009

As of March 31, 20085

As of March 31, 2009

4. Consolidated Cash Flows(Unit: ¥100 million)-65
Cash Flows from
Investing Activities+196
Cash Flows fromOperating Activitiess Acquisitions of assets

Buildings for Techno Stations
Real estate sites for branches
Construction vehicles, tools, and equipment
New internal systemss Other242

Cash andCash Equivalents
at End of Year(As of March 31, 2008)s )NCOME BEFORE INCOME TAXES
and other adjustments
to net income+163
s $ECREASE IN RECEIVABLESTRADE +107
s /THER+34-62
s $ECREASE IN PAYABLESTRADE
s #ASH AND CASH EQUIVALENTS
PAID FOR INCOME TAXES-46-67+2-77
Cash Flows fromFinancing Activities
s !CQUISITIONS OF TREASURY STOCK -50-27s #ASH DIVIDENDS PAID

298+56(Note) The year-end total does not include approx. ¥3.0 billion
in time deposits more than three months from maturity.

6

Cash and
Cash Equivalents
at End of Year(As of March 31, 2009)*Includes a ¥200 million increase in cash
as a result of newly consolidated subsidiaries.

5. Other
5-1. Stock-related Indicators

PERESP

PBR

BSP

Common Stock Price

Ratio of Foreign
Shareholders(Price/Earnings Ratio)(Primary Earnings per Share)(Price/Book Value Ratio)(Book Value per Share)(March 31)(March 31)[ FY March 31, 2009 ]10.9 times¥75

0.7 times¥1,151

¥824

15.0%

[ FY March 31, 2008 ]10.4 times¥83

0.8 times¥1,091¥86425.4%[ FY March 31, 2007 ]14.5 times¥87

1.2 times¥1,033¥1,265

28.6%[ FY March 31, 2006 ]24.1 times¥70

1.7 times¥965¥1,681

28.9%[ FY March 31, 2005 ]15.4 times¥58

1.0 times

¥907

¥899

26.8%

5-2. Application of Principal Accounting Standards
Fiscal year ended March 31, 2009

Effective from the fiscal year ending March 31, 2010

Application of the Accounting Standard for Inventories

Application of the Accounting Standard
for Construction Contracts

Application of the Accounting Standard for Lease Transactions(From April 1, 2009)(Implementing quality control management regarding major projects)

Application of uniform accounting standards throughout the Group(regarding various reserves, etc.)!CCOUNTING 3TANDARD FOR "USINESS #OMBINATIONS

&ROM !PRIL  Implementing J-SOX compliant internal controls on financial reportings !BOLITION OF THE POOLING OF INTEREST METHOD
Application of the Accounting Standard for Quarterly Financial Reportings ,UMP SUM POSTING OF NEGATIVE GOODWILL AS INCOME
7