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 Six Months Ended September 30, 2023
[Japanese GAAP]
October 31, 2023
Company name: SUMITOMO DENSETSU CO.,LTD.
Stock exchange listing: Tokyo
Code number: 1949
URL: https://www.sem.co.jp
Representative: Makoto Tani President
Contact:Koji Tanioku Executive Officer, General Manager, Finance & Accounting Department
Phone: +81-6-6537-3490
Scheduled date of filing quarterly securities report: November 6, 2023
Scheduled date of commencing dividend payments: December 4, 2023
Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: Yes(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2023 (April 1, 2023 to September 30, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%Six months ended
September 30, 2023
79,888(2.0)
3,111(41.4)
3,628(37.8)
2,459(35.1)
81,498
11.9
5,307
6.3
5,838
5.9
3,787
6.2
September 30, 2022
(Note) Comprehensive income:Six months ended September 30, 2023:¥5,112 million [63.0%]
Six months ended September 30, 2022:¥3,136 million [(37.4) %]Basic earnings
per share
Six months endedSeptember 30, 2023
September 30, 2022

Diluted earnings pershare
Yen

Yen

69.46
106.99-(2) Consolidated Financial Position
Total assets
Millions of yen
As ofSeptember 30, 2023
161,739
March 31, 2023
162,587(Reference) Equity: As of September 30, 2023:
As of March 31, 2023:

Net assets

Capital adequacy ratio

Millions of yen¥¥

102,844
99,61897,961 million
94,927 million

%

60.6
58.4

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

YenYenYen

Fiscal year ended March 31, 2023-

43.00

-

51.00

94.00

Fiscal year ending March 31, 2024

-47.00-47.00

94.00

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

Year-end

TotalNo

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
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Millions of yen% Millions of yen% Millions of yen

185,000
5.613,500
0.3Full year(Note) Revision to the financial results forecast announced most recently:

14,500No* Notes:(1) Changes in significant subsidiaries during the six months ended September 30, 2023
(changes in specified subsidiaries resulting in changes in scope of consolidation):
New(Company name:
Exclusion:(Company name:% Millions of yen

0.7

9,500%Yen

1.2

268.27No(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):
September 30, 2023:
35,635,879 shares
March 31, 2023:
35,635,879 shares
2) Number of treasury shares at the end of the period:
September 30, 2023:
219,040 shares
March 31, 2023:
230,084 shares
3) Average number of shares outstanding during the period:
Six months ended September 30, 2023:
Six months ended September 30, 2022:

35,412,210 shares
35,402,675 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
This presentation contains various forward-looking statements which are based on the current expectations and assumptions of future
event.
Please be advised that there are possibilities actual performance could be different from those described in this material.

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
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assetsInvestments and other assets
Investment securities
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
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities-1-As of September 30, 2023

54,77054,084

64,37558,691

3,108
1,409
(12)
123,650

4,534
1,898
(9)
119,199

7,028
16,528(8,767)
7,761
14,7897,152
17,289(8,876)
8,412
15,565

118
965
1,083

60
1,032
1,093

18,3605,117(414)
23,06338,936
162,587

21,0525,241(413)
25,88042,539161,739

36,15733,891

1,597
2,577
201
15,63056,163

1,529
840
92
14,682
51,035

921

961

17

8

1,253
4,613
6,805
62,968

1,294
5,595
7,859
58,894

(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
Deferred gains or losses on hedges
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-2-

As of September 30, 2023

6,440
6,107
73,869(421)
85,9946,440
6,114
74,523(402)
86,676

8,969

10,936

581
(618)
8,932
4,69099,618
162,5870967(618)
11,285
4,882
102,844
161,739

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the six months)(Millions of yen)
For the six months
ended September 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Employees' salaries and allowances
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Loss on disposal of property,plant and equipment
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-3-

For the six months
ended September 30, 2023

81,49870,954
10,54379,88871,168
8,720

1,993
3,242
5,235
5,307

2,156
3,452
5,608
3,111

31
261
267
56063254
231
550

101930
5,838

15
17
33
3,628

235
235

256
256

6,073
1,275
650
1,925
4,147
359
3,787

43
43
3,841
932
355
1,288
2,553
93
2,459

Quarterly Consolidated Statements of Comprehensive Income (For the six months)(Millions of yen)
For the six months
ended September 30, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive incomeComprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests-4-

For the six months
ended September 30, 2023

4,147

2,553

(1,405)
(1)
438
(43)
(1,011)
3,136

1,967
0592
(1)
2,558
5,112

2,657

4,812

479

299

Quarterly Consolidated Statements of Cash Flows(Millions of yen)
For the six months
ended September 30, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of investment securitiesLoss on disposal of property,plant and equipment
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in advances received on
construction contracts in progress
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes and paid refund
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
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
Net decrease (increase) in short-term loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Dividends paid to non-controlling interests
Other, net
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-5-

For the six months
ended September 30, 2023

6,073
527
57(235)2(185)

3,841
634
57(256)
45(7)

(17)

(50)

(78)

(57)

(37)
(293)
10(83)
8,323(1,290)(7,014)(28)(318)
15(22)
6,224(1,424)(2,461)(1,020)

1,661(1,680)
186
3,246
293
(11)
(3,251)276(2,775)
(679)
4,399
318
(16)
(2,604)
2,096

(366)
390
(1,131)
0
(327)
(5)
449
10(979)(305)
366(1,373)3(270)
(0)
411
50
(37)
(1,155)550(554)(1,734)(57)(39)(1,836)492(520)(1,805)(107)(41)(1,982)397

392(2,141)
54,921
52,779(649)
54,42853,779Supplementary Information
Consolidated Orders Received/Net Sales/Backlog of Orders by works type1.Orders Received
Works Type

(Unit：Millions of yen)
FY2022/2Q（From: Apr.1,2022
To: Sep.30,2022）

FY2023/2Q（From: Apr.1,2023
To: Sep.30,2023）

FY2022(Full year)（From: Apr.1,2022
To: Mar.31,2023）

Increase(Decrease)

AmountProportion

AmountProportion

AmountAmountProportion

Power Transmission
Works

11,251

11.4

12,076

11.5

824

7.3

24,192

12.8

General Electrical Works

61,51562.2

68,704

65.1

7,189

11.7

112,211

59.4

Information &Communications Works

14,43814.6

13,91513.2(523)(3.6)

29,597

15.7

Facility & HVAC Works

7,270

7.3

6,647

6.3

(623)

(8.6)

13,334

7.1

Utilities Engineering Service

94,476

95.5

101,343

96.1

6,867

7.3

179,335

95.0

Others

4,408

4.5

4,138

3.9

(270)

(6.1)

9,451

5.0

Total

98,884100.0

105,481

100.0

6,597

6.7

188,787

100.0%%

Rate%%

2.Net Sales
Works TypeFY2022/2Q（From: Apr.1,2022
To: Sep.30,2022）

FY2023/2Q（From: Apr.1,2023
To: Sep.30,2023）

FY2022(Full year)（From: Apr.1,2022
To: Mar.31,2023）

Increase(Decrease)

AmountProportion

AmountProportion

AmountAmountProportion

Power Transmission
Works

8,182

10.0

10,479

13.1

2,296

28.1

19,148

10.9

General Electrical Works

50,90662.5

48,70461.0(2,202)(4.3)

105,950

60.5

Information &Communications Works

12,712

15.6

11,57914.5(1,132)(8.9)

28,517

16.3

Facility & HVAC Works

5,287

6.5

4,986

6.2

(301)

(5.7)

12,052

6.9

Utilities Engineering Service

77,09094.6

75,75094.8(1,339)(1.7)

165,669

94.6

Others

4,408

5.4

4,138

5.2

(270)(6.1)

9,451

5.4

Total

81,498100.0

79,888100.0(1,609)(2.0)

175,120100.0%%

Rate%%

3. Backlog of Orders
Works TypeFY2022/2Q（As of Sep.30,2022）

Increase(Decrease)

FY2023/2Q（As of Sep.30,2023）

AmountProportion

AmountProportion

AmountPower Transmission
Works

18,217

14.5

21,789

14.7

3,571

General Electrical Works

79,824

63.3

95,47764.5

Information &Communications Works

18,32914.5

20,019

Facility & HVAC Works

9,769

7.7

126,142

100.0

Total%FY2022(Full year)（As of Mar.31,2023）

AmountProportion

19.620,192

16.5

15,652

19.6

75,476

61.7

13.5

1,689

9.2

17,683

14.4

10,730

7.3

960

9.8

9,069

7.4

148,016100.0

21,873

17.3

122,423

100.0

-6-%

Rate%%

（２）Forecast of Consolidated Orders Received & Net Sales(Unit：Millions of yen)
Net Sales

Orders Received

Works Type

（From: Apr.1,2023
To: Mar.31, 2024）（From: Apr.1,2023
To: Mar.31, 2024）

AmountIncrease(Decrease)

AmountIncrease(Decrease)

Power Transmission Works

24,5001.3

22,50017.5

General Electrical Works

112,500

0.3

111,000

4.8

Information & Communications Works31,000

4.7

30,0005.2

Facility & HVAC Works

13,5001.2

13,000

7.9

Utilities Engineering Service

181,500

1.2

176,500

6.5

Others8,500(10.1)

8,500(10.1)

Total

190,000

0.6

185,000

5.6%-7-%