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 Three Months Ended June 30, 2023
[Japanese GAAP]
August 7, 2023
Company name: TOKYU CONSTRUCTION CO., LTD.
Stock exchange listing: Tokyo
Code number: 1720
URL: https://www.tokyu-cnst.co.jp/
Representative: Mitsuhiro Terada ,Representative Director,President
Contact: Atsutomo Koike ,General Manager,Finance Department
Phone: +81-3(5466)5061
Scheduled date of filing quarterly securities report: August 8, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: No
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profitOrdinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended
June 30, 2023
62,8602.3
229928769June 30, 2022
61,468
9.1
(517)
(186)
(340)
(Note) Comprehensive income:Three months ended June 30, 2023:¥
1,334 million [177.6%]
Three months ended June 30, 2022:¥
480 million [-%]
Basic earnings
per share
Three months ended
June 30, 2023
June 30, 2022

Diluted earnings pershareYenYen

7.32(3.25)-(2) Consolidated Financial PositionTotal assets
As ofJune 30, 2023
March 31, 2023(Reference) Equity:

Net assets

Millions of yen

Millions of yen

226,455
249,164
As of June 30, 2023:
As of March 31, 2023:

Capital adequacy ratio¥¥

95,491
96,02094,688 million
95,248 million

%

41.8
38.2

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

18.00

-

18.00

36.00

Fiscal year ending March 31, 2024

18.00

-

18.00

36.00

Fiscal year ending March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-endTotalNo

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 to Basic earnings per
Net sales
Operating profit
Ordinary profit
owners of parent
share

Full year

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%Yen307,000

6.3

5,300

3.8

6,200

23.5

4,000

(23.7)

38.05(Note) Revision to the financial results forecast announced most recently:

No* Notes:(1) Changes in significant subsidiaries during the three months ended June 30, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:))
No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2023:
106,761,205 shares
March 31, 2023:
106,761,205 shares
2) Number of treasury shares at the end of the period:
June 30, 2023:
1,563,437 shares
March 31, 2023:
1,629,392 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2023:
105,153,770 shares
Three months ended June 30, 2022:
104,757,957 shares(Note)The number of shares of treasury stock included the shares held by TOKYU CONSTRUCTION Employee Ownership
Association Trust and BIP Trust.
*Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit
corporation.
* Explanation of the proper use of financial results forecast and other notes
The statements regarding forecast of financial results in this report are based on the information that is available to the Company,
as well as certain assumptions that are deemed to be reasonable by management, and they are not meant to be a commitment bythe Company. Therefore, there might be cases in which actual results differ materially from forecast values due to various factors.

Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Securities
Costs on construction contracts in progress
Costs on real estate business
Real estate for sale
Raw materials and supplies
OtherAllowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Deposits received - real estate business
Provision for warranties for completedconstruction
Provision for loss on construction contracts
Provision for bonuses
Deposits received
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for share awards for directors (and otherofficers)
Provision for loss on real estate business and other
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

As of June 30, 2023

58,71438,207

113,448

107,861

1
7,667
1,034
21
55
7,035
(85)
187,892

1
11,161
1,069
21
78
6,151
(95)
164,457

27,2201,480

27,076
1,513

28,837
6
1,282
2,444
(0)
32,571
61,271
249,164

29,51061,4402,450(0)33,40861,997
226,455

44,32433,762

21,17520,083
2,276

16,322
20,214608

16,736

14,276

18

35

8,003

8,053

10,341
2,602
15,372
3,809
144,743

9,928
3,663
14,617
1,335
122,818

1,887

1,848

27

18

4,883
572
1,030
8,400
153,144

4,719
556
1,002
8,146
130,964

(Millions of yen)
As of March 31, 2023
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
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

As of June 30, 2023

16,354
4,093
70,112(1,019)89,541

16,354
4,093
68,970(972)
88,445

5,284

5,665

269
153
5,707
771
96,020249,164

376
202
6,243
802
95,491
226,455

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2022
Net sales
Net sales of completed construction contracts
Net sales in real estate business and otherTotal net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in real estate business and otherTotal cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit on real estate business and otherTotal gross profit
Selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Investment business association management fee
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit (loss)
Profit (loss) 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

For the three months
ended June 30, 2023

60,84062761,468

62,373487
62,86057,764335
58,10058,235
178
58,414

3,076
291
3,368
3,885(517)

4,137
309
4,446
4,216
229

3
104
384

4
83
630

-

51

32
525

38
808

29
31

36
31

61-

72
194(186)
(186)
652
(522)
129(316)
23(340)

42
110
928
928
528
(389)
138
789
19769

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 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 ofparent
Comprehensive income attributable to non-controllinginterests

For the three months
ended June 30, 2023(316)

789

461
104
45

534
52
44

184

(87)

796
480

544
1,334

449

1,306

3028