Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021
[Japanese GAAP]May 7, 2021
Company name: Nichireki Co., Ltd.
Stock exchange listing: Tokyo Stock Exchange
Code number: 5011
URL: https://www.nichireki.co.jp/english/
Representative: Manabu Obata, President and Representative Director
Contact: Takeshi Goto, Executive Officer and General Manager of Accounting Department
Phone: +81-3-3265-1511
Scheduled date of Annual General Meeting of Shareholders: June 29, 2021
Scheduled date of commencing dividend payments: June 30, 2021
Scheduled date of filing annual securities report: June 30, 2021
Availability of supplementary briefing material on annual financial results: Not available
Schedule of annual financial results briefing session: Not scheduled(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of the parent
company
Fiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2021
71,471
7.1
9,140
52.1
9,574
53.8
6,357
249.0
March 31, 2020
66,725
6.0
6,009
7.4
6,225
8.6
1,821
(49.2)(Note) Comprehensive income: Fiscal year ended March 31, 2021: ¥7,787 million [809.7%]
Fiscal year ended March 31, 2020: ¥856 million [(69.8)%]
Diluted earnings Rate of return on Ordinary profit to Operating profit
Basic earnings
per shareper share
equitytotal assets
to net sales%%%
Fiscal year ended
Yen
Yen
March 31, 2021
219.72219.47
11.1
12.4
12.8
March 31, 2020
63.53
－
3.4
8.8
9.0
(Reference) Share of profit of investments accounted for using equity method:
Fiscal year ended March 31, 2021: ¥26 million
Fiscal year ended March 31, 2020: ¥16 million(2) Consolidated Financial Position
Total assets
Net assets
Equity ratio
Net assets per share
Million yen

As of March 31, 2021
82,732As of March 31, 2020
71,487(Reference) Equity: As of March 31, 2021: ¥61,997 million
As of March 31, 2020: ¥52,827 million

Million yen%

Yen

62,01052,82774.9
73.9

2,048.05
1,842.51(3) Consolidated Cash Flows
Cash flows fromoperating activities

Fiscal year ended
March 31, 2021
March 31, 2020

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
fiscal year

Million yen

Million yen

Million yen

Million yen

9,098
3,203

(5,694)(3,352)2,512(1,027)

23,11017,181

2. Dividends
Annual dividends
1st
2nd
3rd
Year-endquarter-end quarter-end quarter-end
Fiscal year ended
March 31, 2020
March 31, 2021
Fiscal year ending
March 31, 2022
(Forecast)

Total

Yen

Yen

Yen

Yen

-

-

-

34.00
38.00

34.00
38.00

-

-

-

38.00

38.00

Total
dividends

Dividends
payoutratio

Dividends
to netassets(consolidated)(consolidated)

Yen Million yen

974
1,150

%

%

53.5
17.3

1.8
2.0

-

3. Forecast of Consolidated Financial Results for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March
31, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners of theper share
parent company
Million yen%

Million yen%

Million yen% Million yen%

Yen

First half
27,000
1,300
1,400
900
31.10
Full year
73,000
7,000
7,200
4,400
152.06(Note) As the Company implements Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) andsuch from the beginning of consolidated fiscal year ending March 31, 2022, forecasts of consolidated financial
results presented above are amounts after the implementation of the said standard and such, and changes fromthe previous corresponding period are not presented.
* Notes:(1) Changes in significant subsidiaries during the fiscal year ended March 31, 2021 (changes in specified subsidiaries
resulting in changes in scope of consolidation): No(2) 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(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the fiscal year (including treasury shares):
As of March 31, 2021: 31,685,955 shares
As of March 31, 2020: 31,685,955 shares2) Total number of treasury shares at the end of the fiscal year:
As of March 31, 2021: 1,414,587 shares
As of March 31, 2020: 3,014,203 shares
3) Average number of shares during the fiscal year:
Fiscal year ended March 31, 2021: 28,935,248 sharesFiscal year ended March 31, 2020: 28,671,832 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31,
2021)(1) Non-consolidated Operating Results(% indicates changes from the previous year.)Net sales
Operating profit
Ordinary profit
ProfitFiscal year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2021
34,907
3.4
4,187
76.9
6,316
56.0
4,789
456.2
March 31, 2020
33,763
5.8
2,367
2.2
4,049
3.6
861
(70.2)

Fiscal year ended
March 31, 2021
March 31, 2020

Basic earnings per
share

Diluted earnings per
share

Yen

Yen

165.5230.03

165.33-(2) Non-consolidated Financial Position
Total assets
Million yen

Net assets
Million yen

67,131
As of March 31, 2021
56,556
As of March 31, 2020
(Reference) Equity: As of March 31, 2021: ¥44,098 million
As of March 31, 2020: ¥36,936 million

44,11136,936Equity ratio

Net assets per share
%

Yen

65.7
65.3

1,456.79
1,288.25* These consolidated financial results are outside the scope of audit by certified public accountants or audit firms.
* Explanation of the proper use of financial results forecast and other notes
The earnings forecast and other forward-looking statements herein are based on information currently available to
the Company and certain assumptions deemed reasonable as of the date of publication of this document. Actual
results may differ significantly from these forecasts due to a wide range of factors.
For assumptions of the forecast of the financial results and precautions in using the forecast, please refer to “(4)Future Outlook” in “1. Overview of Business Results, etc.” on page 5 of these consolidated financial results(Appendix).

Table of Contents
1. Overview of Business Results, etc. ..................................................................................................... 2(1) Overview of Business Results for FY2020 ..................................................................................... 2(2) Overview of Financial Position for FY2020 ................................................................................... 3(3) Overview of Cash Flows for FY2020 ............................................................................................. 3(4) Future Outlook ................................................................................................................................ 5
2. Management Policy ............................................................................................................................. 5(1) Basic Policy of the Company’s Management ................................................................................. 5(2) Medium-to-long Term Management Strategy of the Company ...................................................... 6
3. Basic Approach to the Selection of Accounting Standards ............................................................................ 7
4. Consolidated Financial Statements and Primary Notes .................................................................................. 8(1) Consolidated Balance Sheets ..................................................................................................................... 8(2) Consolidated Statements of Income and Comprehensive Income ........................................................... 10(3) Consolidated Statements of Changes in Equity ....................................................................................... 12(4) Consolidated Statements of Cash Flows .................................................................................................. 14(5) Notes to the Consolidated Financial Statements ...................................................................................... 16(Notes on Going Concern Assumption) ......................................................................................................... 16(Segment Information, etc.) ........................................................................................................................... 16(Per Share Information) ................................................................................................................................. 19(Significant Subsequent Events) .................................................................................................................... 19
5. Non-consolidated Financial Statements ......................................................................................................... 20(1) Non-consolidated Balance Sheets ............................................................................................................ 20(2) Non-consolidated Statements of Income .................................................................................................... 22(3) Non-consolidated Statements of Changes in Equity .................................................................................. 23

1

1. Overview of Business Results, etc.
(1) Overview of Business Results for FY2020

Category

Net sales
Applied and Processed Asphalt
Products Business

Fiscal year ended

Fiscal year ended

March 31, 2020

March 31, 2021

ChangeAmountRatio

AmountRatio

AmountGrowth rate

(Million yen)(%)

(Million yen)(%)

(Million yen)(%)

66,725100.0

71,471

100.0

4,746

7.1

20,495

30.7

20,583

28.8

87

0.4

45,93068.8

50,585

70.8

4,655

10.1

299

0.5

302

0.4

3

1.0

Gross profit

15,00022.5

18,436

25.8

3,435

22.9

Operating profit

6,009

9.0

9,140

12.8

3,130

52.1

Ordinary profit
Profit attributable to owners of
the parent company

6,225

9.3

9,574

13.4

3,349

53.8

1,821

2.7

6,357

8.9

4,535

249.0

Road Paving Business
Other BusinessIn the fiscal year ended March 31, 2021, the Japanese economy remained severe due to the spread of novel
coronavirus disease (COVID-19). As various government measures were implemented, the economic climate
showed some signs of recovery. However, with a resurgence of the infection, there is no prospect of containing
COVID-19, and the economic outlook remains uncertain.
The business environment surrounding the Group remained harsh, as the competition in winning orders
continued to intensify while crude oil prices stopped falling and turned upward, although public constructions
remained firm.
In this environment, the Group continued to implement various projects based on its growth strategies giving
the top priority to “expanding and cultivating its business markets” in the fifth and final year of the Medium-termManagement Plan “Next 2020.”
In the fiscal year ended March 31, 2021, the Group posted net sales of ¥71,471 million (up 7.1% year on year),
operating profit of ¥9,140 million (up 52.1% year on year), ordinary profit of ¥9,574 million (up 53.8% year onyear), and profit attributable to owners of the parent company of ¥6,357 million (up 249.0% year on year).
Results by business segment were as follows.
Applied and Processed Asphalt Products BusinessIn the Applied and Processed Asphalt Products Business, amid the low level of raw material prices, we
promoted sales of high value-added products contributing to “longer life and higher performance of paved roads”
and “reduction of environmental load.” In addition, we endeavored to improve our profitability through cost
reduction and other measures.
Net sales for the segment were ¥20,583 million (up 0.4% year on year), and segment profit (operating profit)
was ¥6,393 million (up 31.7% year on year).
Road Paving BusinessIn the Road Paving Business, in addition to the completion of construction works carried forward from theprevious fiscal year, we carried out activities to win orders by proposing construction methods such as roadinfrastructure upgrading to cope with aging. We also steadily executed construction works and strengthened costmanagement.
Net sales for the segment were ¥50,585 million (up 10.1% year on year), and segment profit (operating profit)
was ¥5,212 million (up 41.1% year on year).
2

Other BusinessIn the Other Business, net sales for the segment were ¥302 million (up 1.0% year on year), and segment profit(operating profit) was ¥218 million (down 1.3% year on year) mainly due to real estate leasing revenue.

(2) Overview of Financial Position for FY2020(Million yen)

As of March 31, 2020
Category
Current assets

As of March 31, 2021

ChangeAmountRatio

AmountRatio

AmountGrowth rate

(Million yen)(%)

(Million yen)(%)

(Million yen)(%)

45,83664.1

52,076

62.9

6,239

13.6

Non-current assets

25,65035.9

30,656

37.1

5,005

19.5

Current liabilities

16,542

23.1

18,926

22.9

2,383

14.4

Non-current liabilities

2,117

3.0

1,796

2.2

(320)

(15.2)Net assets

52,82773.9

62,010

75.0

9,182

17.4

Total assets

71,487100.0

82,732100.0

11,24515.7(i) Status of assets, liabilities and net assets
Current assets
Current assets increased by ¥6,239 million from the end of the previous fiscal year to ¥52,076 million. Thisis mainly attributable to an increase in cash and deposits by ¥6,029 million.
Non-current assets
Non-current assets increased by ¥5,005 million from the end of the previous fiscal year to ¥30,656 million.
This is mainly attributable to an increase in land by ¥5,044 million.
Current liabilities
Current liabilities increased by ¥2,383 million from the end of the previous fiscal year to ¥18,926 million.
This is mainly attributable to increases in notes and accounts payable – trade by ¥358 million, electronicallyrecorded obligations – operating by ¥492 million, and short-term borrowings by ¥1,200 million.
Non-current liabilities
Non-current liabilities decreased by ¥320 million from the end of the previous fiscal year to ¥1,796 million.
This is mainly attributable to a decrease in retirement benefit liability by ¥1,049 million, as well as increases indeferred tax liabilities by ¥465 million and provision for environmental measures by ¥287 million.
Net assets
Net assets increased by ¥9,182 million from the end of the previous fiscal year to ¥62,010 million. This ismainly attributable to increases in capital surplus by ¥1,412 million, retained earnings by ¥5,382 million,
valuation difference on available-for-sale securities by ¥582 million, deferred gains or losses on hedges by ¥418
million, remeasurements of defined benefit plans by ¥418 million, as well as disposal of treasury shares fromexercise of share acquisition rights of ¥944 million.

(3) Overview of Cash Flows for FY2020
Cash and cash equivalents (hereinafter referred to as “cash”) for the fiscal year under review increased by¥5,929 million from the end of the previous fiscal year to ¥23,110 million. Status of cash flows and contributing
factors were as follows.
Cash flows from operating activities
Net cash provided by operating activities was ¥9,098 million (up 184.0% year on year). This is mainly
attributable to profit before income taxes of ¥9,350 million, a decrease in trade receivables of ¥313 million, andan increase in trade payables of ¥271 million.
Cash flows from investing activities
Net cash used in investing activities was ¥5,694 million (up 69.9% year on year). This is mainly attributableto payments into time deposits of ¥1,910 million, proceeds from withdrawal of time deposits of ¥2,710 million,
and purchase of property, plant and equipment of ¥6,738 million.
3

Cash flows from financing activities
Net cash provided by financing activities was ¥2,512 million (¥1,027 million was used in the previous fiscal
year). This is mainly attributable to proceeds from disposal of treasury shares from exercise of share acquisitionrights of ¥2,342 million.
(Reference) Changes in cash flow indicators
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
ended
ended
ended
ended
ended
March 31, 2017 March 31, 2018 March 31, 2019 March 31, 2020 March 31, 2021
Equity ratio (%)

71.7

72.8

75.2

73.9

74.9

Equity ratio based on market value (%)

40.0

50.5

44.7

52.1

57.8

Ratio of interest-bearing debt to cash flows (%)

17.1

21.3

19.3

32.1

24.4

930.96589.41
523.17
Interest coverage ratio (times)
1,113.87
820.36Equity ratio = Equity / Total assets
Equity ratio based on market value = Total market value of shares / Total assets
Ratio of interest-bearing debt to cash flows = Interest-bearing debts / Cash flows
Interest coverage ratio = Cash flows / Interest paid
(Note 1) The indicators were calculated using consolidated financial figures.
(Note 2) The total market value of shares was calculated using the total number of shares outstanding, less treasury shares.
(Note 3) Cash flows from operating activities are used as cash flows.
(Note 4) Interest-bearing debt includes all debt recorded on the consolidated balance sheet for which interest is paid.

4(4) Future Outlook
Forecast of consolidated financial results
Category

First half

Full-year

AmountYear-on-year

AmountYear-on-year(Million yen)change (%)(Million yen)change (%)

Net sales

27,000-73,000-Operating profit

1,300

-

7,000

-

Ordinary profit

1,400

-

7,200

-

900

-

4,400

-

Profit attributable to owners of theparent company

In the fiscal year ending March 31, 2022, the Japanese economy is expected to remain harsh due to the spreadof COVID-19. Continuous attention must be paid to the impact of COVID-19 pandemic on the Japanese andglobal economies.
The business environment surrounding the Group is forecast to remain challenging due to the fierce
competition among companies in winning orders as well as raw material prices affected by the fluctuations incrude oil prices and foreign exchange rates, although demand for construction mainly in the areas of disasterprevention, disaster mitigation, and national resilience is expected to increase. As the impact of COVID-19 on
the Group’s future performance is unclear, it is not included in the consolidated financial results forecast shown
above at this moment. The financial results may fluctuate in the event that further infection spread continuously
causes delays in construction, a decrease in construction works volume, and the accompanying decline in theplant operating rate, as well as that unstable crude oil prices continue to impact raw material prices. Should any
fact arise that requires an announcement, we will promptly disclose such facts.
In such an environment, the Group has decided to initiate its new Medium-term Management Plan “Resilience
2025 (Shinayaka 2025)” from the fiscal year ending March 31, 2022. Our business environment is expected tochange on a large scale and at a fast pace. By strongly implementing this management plan, we will make prompt
and appropriate decision making, and we will work as one to respond flexibly to these various changes, aiming
to grow into a sustainable corporate group.
(Note) The earnings forecast and other forward-looking statements herein are based on information currently available to theCompany and certain assumptions deemed reasonable as of the date of publication of this document. Actual results may
differ significantly from the forecast due to a wide range of factors.

2. Management Policy(1) Basic Policy of the Company’s Management
To ensure contribution to society by creating roads,
 We will supply road paving materials and their corresponding construction methods to satisfy
requirements for outstanding functionality and cost.
 We will offer advanced consulting that watches vigilantly over roads, which are the common assets ofthe people.
 We will implement construction technology that is trusted by customers.
The Group completely unifies the three elements described above and considers its management philosophy as
the aim of remaining a highly profitable corporate group that spearheads the creation of roads worthy of the trust of
its shareholders and a wide range of customers. We also strive to ensure that every employee in the Group can
exercise his or her abilities to the fullest through meaningful work. As a basic policy in our efforts to realize thismanagement philosophy, we pledge to observe all laws and regulations while giving full consideration toenvironmental preservation and safety.
This management philosophy embodies our “corporate philosophy,” together with our “spirit of sowing seeds”— “Sowing seeds, giving them water, letting them flower, and reaping the fruits,” continuously creating new
business through the accumulation of unceasing effort — that has become the very essence of our corporate culture.
5(2) Medium-to-long Term Management Strategy of the Company
To carry on its previous Medium-term Management Plan “Next 2020” and aim at further growth, the Group has
developed its new five-year Medium-term Management Plan “Resilience 2025 (Shinayaka 2025)” that will be
initiated in the fiscal year ending March 31, 2022. An overview of this plan is as shown below. In respect to the plan,
the Company released the “Announcement of the Medium-term Management Plan” as of May 7, 2021.
Overview of the Medium-term Management Plan “Resilience 2025 (Shinayaka 2025)”(i) Plan period
From the fiscal year ending March 31, 2022 through the fiscal year ending March 31, 2026 (5 years)(ii) Business environment
External factors that affect the business of the Group include the following:(a) Impact of trends in public investment and government policies (disaster prevention, disaster mitigation,and national resilience)(b) Economic impact of natural disasters, infectious diseases, etc.
(c) Fluctuations in raw material prices and supply trends(d) Social changes brought about by autonomous driving and DX (Digital Transformation)(e) Changes in business practices such as decarbonization(f) Expansion of corporate social responsibilities such as ESG (Environmental, Social, and Governance),
SDGs (Sustainable Development Goals), etc.
(g) Changes in the labor market such as new working style, a declining workforce, and an increasing portionof the elderly(iii) Basic policy“Resilience 2025 (Shinayaka 2025)” – Aiming to be a corporate group with high organizational resilience
In response to various changes in the business climate expected to occur on a large scale and at a fast pace, ourorganization strives to take flexible action as one based on prompt and appropriate decision making, aiming togrow into a sustainable corporate group.
(iv) Priority measures
Our priority measures are as follows:(a) Expand and cultivate our business markets, and penetrate markets
 In “Resilience 2025 (Shinayaka 2025),” we continue to expand and cultivate our business markets
and firmly establish in-house developed/manufactured products and construction methods in bothcustomers and markets.
 We will boost sales of environment-friendly products and construction methods
developed/manufactured in-house, which offer performance and functionality, such as long-lasting,recycling, CO2 reduction, and safety.
(b) Enhance R&D capabilities and improve productivity
 In order to respond to various changes in the business environment, we will actively bring in newtechnologies and digital technologies from other industries and then evolve our own ones to tackle
the development of innovative products and construction methods.
 We will strengthen the organic connection of human resources and other management resources toimprove the productivity of the entire corporate group. In addition, we will strive to establish anadvanced logistics network based on the concept of supply chain management.
(c) Strengthen the Group’s management foundation
 We will build a robust financial and managerial foundation to fulfill our corporate social
responsibility and continuously enhance corporate values under any circumstances.
 Aiming to achieve further growth, we will promote the development and training of human resourcesthat will support sustainable growth.
 We will promote the sophistication and expansion of ICT (Information and Communication
Technology) and advance DX to improve our work environment and increase operational efficiency.
(d) Boost environmental investments to contribute to the creation of a decarbonized society As a strategic move for the future, we will build an eco-friendly, advanced production and distribution
6site in Tsukubamirai City, Ibaraki Prefecture to accelerate our efforts suitable for the transition to a
decarbonized society.
We will strive to reduce energy consumption by upgrading the Group-owned vehicles to hybrid
vehicles and renovating existing buildings and facilities.

(v) Management targets for the plan
Numerical targets for the final year of this plan are as follows:
Consolidated net sales:
77,000 million yen
Consolidated operating profit:
7,800 million yen
Consolidated ordinary profit:
8,000 million yen
ROIC (Return on Invested Capital):
6.5 or higher
ROA (Return on Assets):
5.0 or higher

3. Basic Approach to the Selection of Accounting Standards
Taking into consideration the comparability of consolidated financial statements across periods and among
companies, the Group prepares its consolidated financial statements using Japanese GAAP for the time being.
With regard to the application of International Financial Reporting Standards (IFRS), the Group’s policy is to
respond appropriately based on consideration of the situation in Japan and overseas.

7

4. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise and finished goods
Costs on construction contracts in progress
Raw materials and supplies
Current portion of long-term loans receivable fromsubsidiaries and associates
Derivatives
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Investments in capital of subsidiaries andassociates
Long-term loans receivable from subsidiaries andassociates
Deferred tax assets
Long-term time deposits
Other
Allowance for doubtful accounts
Allowance for investment loss
Total investments and other assets
Total non-current assets
Total assets

8

As of March 31, 2021

19,891
20,024
3,328
1,049
287
735

25,92020,305
2,922
1,101
328
730

77

67

453
(10)
45,836

458
320
(79)
52,076

13,825(7,779)6,045
23,647(20,552)
3,095
5,496
520
(219)
300
129
2,668
(2,118)549
15,617

14,282(8,158)
6,123
24,540(21,249)
3,291
10,541
604
(308)
295
293
2,832
(2,241)
591
21,136

726
726

728
728

4,514

5,143

657

671

673

490

562
2,820
544
(446)
(20)
9,306
25,65071,487

408
1,920
593
(438)
8,791
30,65682,732

(Million yen)
As of March 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Lease obligations
Accounts payable - other
Income taxes payable
Derivatives liabilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other provisions
Other
Total current liabilities
Non-current liabilities
Long-term accounts payable - other
Lease obligations
Long-term deposits received
Deferred tax liabilities
Provision for environmental measures
Retirement benefit liability
Asset retirement obligations
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Total net assets
Total liabilities and net assets

9

As of March 31, 2021

8,402
992
700
74
1,762
1,541
144
1,006

8,761
1,485
1,900
92
1,438
2,022
961

110

141

58
1,747
16,54257
2,067
18,926

5
253
48
68
1,607
133
2,117
18,659

5
230
48
533
287
557
133
1,796
20,7222,919
2,017
48,191(1,779)51,3492,919
3,430
53,574(835)
59,088

1,511
(100)
(4)
72
1,478
52,827
71,487

2,093
318
6
490
2,908
12
62,01082,732

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)
For the fiscal year
ended March 31, 2020
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Gain on bargain purchase
Insurance claim income
Compensation income
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Provision for environmental measures
Special repairs expenses
Loss on valuation of investments in capital ofsubsidiaries and associates
Provision of allowance for doubtful accounts for
subsidiaries and associates
Loss on antimonopoly law
OtherTotal extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

10

For the fiscal year
ended March 31, 2021

66,72551,72515,0008,990
6,009

71,47153,035
18,436
9,296
9,140

29
149

28
374

16

26

34
230

39
469

5
2
6
15
6,225

17
17
35
9,574

55
608
39
25
49
0
778

41
64
14
111
231

10
50

12
287
89

98

-

195

-

2,577
129
3,061
3,942
2,135
(14)
2,120
1,821
1,821

66
455
9,350
3,023
(30)
2,992
6,357
6,357

Consolidated Statements of Comprehensive Income(Million yen)
For the fiscal year
ended March 31, 2020
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
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 of theparent company

11

For the fiscal year
ended March 31, 2021

1,821

6,357

(694)
(100)
(2)
(153)

582
418
1
418

(13)

8

(965)
856

1,429
7,787

856

7,787

(3) Consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2020

Balance at beginning of period

Share capital

Capital surplus

2,919

2,017

(Million yen)

Shareholders’ equity
Retained
Treasury sharesearnings
47,287

Total shareholders’equity(1,779)50,445

Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’ equity
Total changes during period
Balance at end of period

(917)

(917)

1,821

1,821
(0)

(0)

0

0

(0)

-

-

-

904

0

904

2,919

2,017

48,191(1,779)51,349

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of
period2,205

Deferred
gains orlosses onhedges-Foreigncurrencytranslation
adjustment

Remeasurementsof defined benefit
plans

Total
accumulated
othercomprehensive
incomeShare
acquisitionrightsTotal net
assets

12

226

2,444

-

52,889Changes during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’ equity

(917)
1,821
(0)
0
(694)

(100)

(16)

(153)

(965)

-

(965)

Total changes during period

(694)

(100)

(16)

(153)

(965)

-

(61)

Balance at end of period

1,511

(100)

(4)

72

1,478

-

52,827

12

For the fiscal year ended March 31, 2021

Balance at beginning of period(Million yen)

Share capital

Capital surplus

2,919

2,017

Shareholders’ equity
Retained
Treasury sharesearnings
48,191

Total shareholders’equity(1,779)51,349Changes during period
Dividends of surplus
Profit attributable toowners of the parent
company
Purchase of treasury
shares
Disposal of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’ equity
Total changes during period
Balance at end of period

(974)

(974)

6,357

6,357
(0)

(0)
-

1,412

944

2,357

-

1,412

5,382

944

7,739

2,919

3,430

53,574(835)

59,088

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of
period

1,511

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

(100)

(4)

Remeasurementsof defined benefit
plans

Total
accumulated
othercomprehensive
incomeShare
acquisitionrightsTotal net
assets

72

1,478

-

52,827

Changes during period
Dividends of surplus
Profit attributable toowners of the parent
company
Purchase of treasury
shares
Disposal of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’ equity
Total changes during period
Balance at end of period

(974)
6,357
(0)
2,357
582

418

10

418

1,429

12

1,442

582

418

10

418

1,429

12

9,182

2,093

318

6

490

2,908

12

62,01013

(4) Consolidated Statements of Cash Flows(Million yen)
For the fiscal year
ended March 31, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Gain on bargain purchase
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in retirement benefit liability
Increase (decrease) in other provisions
Interest and dividend income
Interest expenses
Insurance claim income
Loss (gain) on sale of non-current assets
Loss (gain) on sale of investment securities
Compensation income
Special repairs expenses
Loss on valuation of investments in capital ofsubsidiaries and affiliates
Loss on retirement of non-current assets
Subsidy income
Decrease (increase) in trade receivables
Decrease (increase) in other current assets
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Increase (decrease) in accrued consumption taxes
Share of loss (profit) of entities accounted for using
equity method
Loss on disaster
Loss related to Anti-Monopoly Act
Other, net
SubtotalInterest and dividends received
Subsidies received
Proceeds from insurance income
Proceeds from compensation
Interest paid
Income taxes paid
Special repairs expenses paid
Anti-monopoly act payment
Payments associated with disaster loss
Net cash provided by (used in) operating activities

14

For the fiscal year
ended March 31, 2021

3,942
2,113
(39)
206
(312)
160
(179)
5
(25)
(47)
(608)
-

9,350
1,899
60
(428)
270
(403)
17
(14)
(41)
(63)
(111)
89

98

-

10
(3)
(1,670)
(62)
249
786
(64)
399

12
(4)
313
58
(88)
271
271
(8)

(16)

(26)

120
2,577
6
7,647
179
3
25
(5)
(1,982)(2,577)
(86)
3,203

43
(69)
11,400
402
4
14
112
(17)
(2,615)
(138)
(65)
9,098

For the fiscal year
ended March 31, 2020
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
Payments for retirement of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Loan advances
Proceeds from collection of loans receivable
Payments for investments in capital of subsidiaries andassociates
Purchase of shares of subsidiaries resulting in change inscope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of short-term borrowings
Repayments of lease obligations
Purchase of treasury shares
Proceeds from issuance of share acquisition rights
Proceeds from disposal of treasury shares from exerciseof share acquisition rights
Dividends paid
Repayments of long-term borrowings
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

15

For the fiscal year
ended March 31, 2021

(2,810)1,410(1,551)119(1,910)2,710(6,738)
46

(5)

(3)

(185)
(302)
663
(2)
6

(188)
(1)
237
(3)
197

(319)

-

(372)

(47)

(3)
(3,352)

6(5,694)2,200(2,200)
(73)
(0)
-

7,200
(6,000)
(84)
(0)
27

-

2,342

(915)
(39)
0
(1,027)(8)(1,185)18,367
17,181

(972)
2,512
12
5,929
17,181
23,110(5) Notes to the Consolidated Financial Statements(Notes on Going Concern Assumption)
There is no relevant information.

(Segment Information, etc.)
1. Overview of reportable segments
Reportable segments of the Group are determined as segments whose separate financial information isaccessible from among the constituent units of the Company and are regularly used by the Board of Directors
to determine the allocation of management resources and to evaluate achievements.
The Group formulates comprehensive strategies by product and service and develops business activities thatoffer a wide variety of products and works related to road paving. Therefore, the Group has two reportablesegments: “Applied and Processed Asphalt Products Business” and “Road Paving Business.” The “Applied andProcessed Asphalt Products Business” is engaged in manufacture and sale of asphalt emulsions, modified
asphalt and other road paving materials, etc., and the “Road Paving Business” is engaged in paving, civilengineering, bridge waterproofing and other construction works.
2. Method of measurement for net sales, profit (loss), assets, liabilities and other items by reportable segment
The accounting method used for reporting business segments is the same as the accounting method that forms
the basis for preparing consolidated financial statements.
Reportable segment profit figures are based on operating profit. Inter-segment sales and transfers are basedon market prices.

16

3. Information on net sales, profit (loss), assets, liabilities and other items by reportable segment(Million yen)
For the fiscal year ended March 31, 2020
Reportable segment
Applied andProcessed
Road Paving
Asphalt
Business
Products
Business

Total

Other
(Note 1)

Total

Amountrecorded in
Adjustment Consolidated
Financial(Note 2)
Statements(Note 3)

Net sales
Net sales to outside customers
20,49545,93066,426299
66,72566,725Inter-segment net sales
11,831
11,831
61
11,893(11,893)or transfers
Total
32,32745,93078,257361
78,619(11,893)
66,725
Segment profit
4,853
3,695
8,548
221
8,770
(2,760)6,009
Segment assets
24,83730,32055,1582,010
57,16814,31871,487
Other items
Depreciation
869
821
1,691
79
1,770
342
2,113
Investments in entities accounted
580
580
580
580
for using equity method
Increases in property, plant and
863
635
1,499
0
1,499
201
1,700
equipment and intangible assets(Notes) 1. The “Other” category incorporates business segments not included in reportable segments, such as the real estateleasing business and the non-life insurance agency business.
2. (1) Segment profit adjustment of ¥(2,760) million includes elimination of inter-segment transactions of ¥(99)
million and corporate expenses of ¥(2,660) million that are not allocated to reportable segments. Corporate
expenses are comprised primarily of expenses related to the administrative divisions not allocated to reportablesegments, such as expenses related to the general affairs division of the Company’s head office.
(2) Segment assets adjustment of ¥14,318 million includes the Company’s surplus funds (cash and deposits,
securities), long-term investments (investment securities) and assets related to the administrative divisions.
(3) Adjustments to depreciation and increases in property, plant and equipment and intangible assets under otheritems are those related to the Company’s head office that are not allocated to reportable segments.
3. Segment profit is adjusted to the operating profit in the consolidated statements of income.

For the fiscal year ended March 31, 2021

(Million yen)

Reportable segment
Applied andProcessed
Road Paving
Asphalt
Business
Products
Business

Total

Other
(Note 1)

Total

Amountrecorded in
Adjustment Consolidated
Financial(Note 2)
Statements(Note 3)

Net sales
Net sales to outside customers
20,58350,585
71,169302
71,471
71,471
Inter-segment net sales
12,32012,32065
12,385(12,385)or transfers
Total
32,90350,58583,489367
83,857(12,385)
71,471
Segment profit
6,393
5,212
11,606218
11,825(2,684)9,140
Segment assets
28,98631,31360,2992,241
62,541
20,19182,732Other items
Depreciation
741
715
1,456
85
1,542
356
1,899
Investments in entities accounted
615
615
615
615
for using equity method
Increases in property, plant and
6,245
910
7,156
0
7,156
383
7,539
equipment and intangible assets(Notes) 1. The “Other” category incorporates business segments not included in reportable segments, such as the real estatelease business and the non-life insurance agency business.

172. (1) Segment profit adjustment of ¥(2,684) million includes elimination of inter-segment transactions of ¥(19)
million and corporate expenses of ¥(2,665) million that are not allocated to reportable segments. Corporate
expenses are comprised primarily of expenses related to the administrative divisions not allocated to reportablesegments, such as expenses related to the general affairs division of the Company’s head office.
(2) Segment assets adjustment of ¥20,191 million includes the Company’s surplus funds (cash and deposits,
securities), long-term investments (investment securities) and assets related to the administrative divisions.
(3) Adjustments to depreciation and increases in property, plant and equipment and intangible assets under otheritems are those related to the Company’s head office that are not allocated to reportable segments.
3. Segment profit is adjusted to the operating profit in the consolidated statements of income.

18

(Per Share Information)
For the fiscal year ended
March 31, 2020
Net assets per share
Basic earnings per share

For the fiscal year ended
March 31, 2021

¥1,842.51¥2,048.05¥63.53¥219.72

Diluted earnings per share¥219.47(Notes) 1. Diluted earnings per share for the fiscal year ended March 31, 2020 is not stated because there are no
potentially dilutive shares.
2. The basis for the calculation of basic earnings per share and diluted earnings per share is as follows.
For the fiscal year ended
For the fiscal year ended
March 31, 2020
March 31, 2021
Basic earnings per share
Profit attributable to owners of parent (Million yen)

1,821

6,357

-

-

Profit attributable to owners of the parent company
relating to common shares (Million yen)

1,821

6,357

Average number of shares of common shares
outstanding during each fiscal year (Thousand shares)

28,671

28,935

Profit adjustment attributable to owners of the parent
company (Million yen)--(of which, interest expenses (net of applicable taxes)(Million yen))

(-)

(-)

Increase in number of common shares (Thousand
shares)

-

32

(-)

(32)

Amount not attributable to common shareholders(Million yen)

Diluted earnings per share(of which, share acquisition rights (Thousand shares))
Overview of potentially dilutive shares excluded fromthe calculation of diluted earnings per share due to theabsence of dilutive effects-

3. The basis for the calculation of net assets per share is as follows.
As of March 31, 2020
Total net assets (Million yen)Amount to be deducted from total net assets (Million
yen)(of which, share acquisition rights (Million yen))

As of March 31, 2021

52,82762,010

-

12

(-)

(12)

Net assets relating to common shares at end of period(Million yen)

52,827

61,997

Number of common shares at end of period used in
calculating net assets per share (Thousand shares)

28,671

30,271(Significant Subsequent Events)
There is no relevant information.
19

5. Non-consolidated Financial Statements(1) Non-consolidated Balance Sheets(Million yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims - operating
Accounts receivable - trade
Accounts receivable from completed construction
contracts
Merchandise and finished goods
Costs on construction contracts in progress
Raw materials and supplies
Short-term loans receivable
Current portion of long-term loans receivable fromsubsidiaries and associates
Derivatives
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings
Structures
Machinery and equipment
VehiclesTools, furniture and fixtures
Land
Leased assets
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Shares of subsidiaries and associates
Investments in capital
Investments in capital of subsidiaries andassociates
Long-term loans receivable
Long-term loans receivable from subsidiaries andassociates
Distressed receivables
Long-term prepaid expenses
Long-term time deposits
Other
Allowance for doubtful accounts
Allowance for investment loss
Total investments and other assets
Total non-current assets
Total assets

20

As of March 31, 2021

16,410
2,479
2,494
8,739

22,235
2,474
2,246
8,467

797

889

961
76
606
352

961
83
636
121

77

67

363
(1)
33,358458
311(2)38,950

4,467
1,096
1,638
100
475
3,897
297
128
12,102

4,567
1,066
1,717
117
497
9,135
283
188
17,574

454
206
660

548
90
638

4,260
1,907
108

4,885
1,907
119

777

756

2

2

673

490

7
21
2,815
318
(437)
(20)
10,43523,19856,556

4
1,915
316
(430)
9,968
28,181
67,131

(Million yen)
As of March 31, 2020
Liabilities
Current liabilities
Accounts payable - trade
Accounts payable for construction contracts
Electronically recorded obligations - operating
Short-term borrowings
Lease obligations
Accounts payable - otherAccrued expenses
Income taxes payable
Deposits received
Derivatives liabilities
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for environmental measures
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Other capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
Reserve for tax purpose reduction entry of
non-current assets
Reserve for special account for tax purpose
reduction entry of non-current assets
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Total valuation and translation adjustments
Share acquisition rights
Total net assets
Total liabilities and net assets

21

As of March 31, 2021

3,445
230
992
700
73
1,694
338
605
9,278
144
467

3,726
268
1,485
1,900
86
1,356
404
851
10,389
458

81

98

3
317
18,3733329
21,356

250
33
808
106
47
1,246
19,619

221
415
584
287
106
47
1,663
23,020

2,919

2,919

2,017
2,017

2,017
1,680
3,698

729

729

272

270

23

9

17,10013,73831,863(1,273)35,527

17,10017,56835,678(597)
41,698

1,509
(100)
1,409
36,93656,556

2,082
318
2,400
12
44,111
67,131

(2) Non-consolidated Statements of Income(Million yen)
For the fiscal year
ended March 31, 2020
Net sales
Net sales of finished goods
Net sales of goods
Net sales of completed construction contracts
Sales in leasing businessTotal net sales
Cost of sales
Cost of finished goods soldCost of goods soldCost of sales of completed construction contracts
Cost of sales in leasing businessTotal cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Insurance claim income
Compensation income
Other
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Provision for environmental measures
Special repairs expenses
Loss on valuation of investments in capital ofsubsidiaries and associates
Provision of allowance for doubtful accounts for
subsidiaries and associates
Loss on disaster
Loss on anti-monopoly law
OtherTotal extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit22

For the fiscal year
ended March 31, 2021

20,627
8,675
1,677
2,781
33,763

20,778
9,141
2,140
2,846
34,907

13,654
7,772
1,277
2,550
25,254
8,508
6,141
2,367

12,432
8,136
1,455
2,461
24,486
10,420
6,233
4,187

28
1,635
39
1,703

27
2,093
49
2,169

10
6
4
21
4,049

23
16
40
6,316

43
608
9
49
0
711

19
63
10
111
204

9
50

8
287
89

98

-

195

-

77
2,577
9
3,017
1,744
918
(34)
883
861

39
19
444
6,077
1,350
(61)
1,288
4,789

(3) Non-consolidated Statements of Changes in Equity
For the fiscal year ended March 31, 2020

(Million yen)
Shareholders’ equity

Capital surplus

Retained earnings
Other retained earnings

Share capital

Legal capitalsurplus

2,919

2,017

Balance at beginning of period

Other capitalsurplus

Total capitalsurplus

Legal retained
earnings

2,017

729

-

Reserve for special
Reserve for tax
account for tax
purpose reduction
purpose reduction
entry of non-current
entry of nonassets
current assets

274-

Changes during period
Dividends of surplus
ProfitProvision of reserve for
special account for tax
purpose reduction entry of
non-current assets
Reversal of reserve for tax
purpose reduction entry of
non-current assets

23

(2)

Purchase of treasury shares
Exercise of share acquisitionrightsNet changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

-

-

-

-

-

(2)

23

2,919

2,017

-

2,017

729

272

23

Shareholders’ equity

Balance at beginning of
periodRetained earnings
Other retained
earnings
Total
Retainedretained
Generalearnings
earnings
reservebrought
forward17,100

Valuation and translation adjustments

TreasurysharesTotalshareholders’equityValuationdifferenceonavailablefor-salesecurities(1,273)35,5842,202

Deferred
gains orlosses onhedges-Totalvaluation andtranslation
adjustments

ShareacquisitionrightsTotal net
assets2,202-

37,786

13,81531,920

Dividends of surplus

(917)

(917)

(917)

(917)

Profit

861

861

861

861

(23)

-

-

-

2

-

-

-

Changes during period

Provision of reserve
for special accountfor tax purpose
reduction entry of
non-current assets
Reversal of reserve fortax purpose
reduction entry of
non-current assets
Purchase of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’equityTotal changes during period
Balance at end of period

(0)

(0)

(0)

-

(692)

(100)

(793)

-

(793)

-

(77)

(56)

(0)

(56)

(692)

(100)

(793)

-

(850)

17,10013,73831,863(1,273)35,527

1,509

(100)

1,409

-

36,93623

For the fiscal year ended March 31, 2021

(Million yen)
Shareholders’ equity
Capital surplus

Retained earnings
Other retained earnings

Share capital

Legal capitalsurplus

2,919

2,017

Balance at beginning of period

Other capitalsurplus

Total capitalsurplus

Legal retained
earnings

2,017

729

-

Reserve for special
Reserve for tax
account for tax
purpose reduction
purpose reduction
entry of non-current
entry of nonassets
current assets

272

23

Changes during period
Dividends of surplus
ProfitProvision of reserve for
special account for tax
purpose reduction entry of
non-current assets
Reversal of reserve for tax
purpose reduction entry of
non-current assets

9

(2)

(23)

Purchase of treasury shares
Exercise of share acquisitionrightsNet changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

1,680

1,680

-

-

1,680

1,680

-

(2)

(13)

2,919

2,017

1,680

3,698

729

270

9

Shareholders’ equity

Balance at beginning of
periodValuation and translation adjustments

Retained earnings
Other retained
earnings
Total
Retainedretained
Generalearnings
earnings
reservebrought
forwardTreasurysharesTotalshareholders’equityValuationdifferenceonavailablefor-salesecurities

17,100(1,273)35,527

1,509

Deferred
gains orlosses onhedges

(100)

Total
valuation andtranslation
adjustments

ShareacquisitionrightsTotal net
assets

1,409-

36,936

13,73831,863

Dividends of surplus

(974)

(974)

(974)

(974)

Profit

4,789

4,789

4,789

4,789

(9)

-

-

-

25

-

-

-

Changes during period

Provision of reserve
for special accountfor tax purpose
reduction entry of
non-current assets
Reversal of reserve fortax purpose
reduction entry of
non-current assets
Purchase of treasury
sharesExercise of shareacquisition rights
Net changes in items
other thanshareholders’equityTotal changes during period
Balance at end of period

(0)

(0)

(0)

676

2,357

2,357
572

418

991

12

1,004

-

3,830

3,814

676

6,171

572

418

991

12

7,175

17,10017,56835,678(597)

41,698

2,082

318

2,400

12

44,11124