Consolidated Financial Results
for the Six Months Ended September 30, 2022
[Japanese GAAP]
November 7, 2022
Company name: SEIKITOKYU KOGYO CO., LTD.
Stock exchange listing: Tokyo Stock Exchange
Code number: 1898
URL: https://www.seikitokyu.co.jp
Representative: Yoshikazu Taira, Representative Director, President
Contact: Takanori Kawano, General Manager, Finance Department
Phone: +81-3-6770-4020
Scheduled date of filing quarterly securities report: November 8, 2022
Scheduled date of commencing dividend payments: –Availability of supplementary briefing materials on quarterly financial results: Unavailable
Schedule of quarterly financial results briefing session: Scheduled (for institutional investors and analysts)(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Six Months Ended September 30, 2022 (April 1, 2022 to September
30, 2022)(1) Consolidated Operating Results (Cumulative)(% indicates year-on-year changes)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Six months ended
Million yen%
Million yen%
Million yen%
Million yen%
September 30, 2022
41,8928.4246 (86.0)
246 (85.8)
90 (92.4)
September 30, 2021
38,66310.6
1,753 (21.6)
1,737 (22.1)
1,191 (40.6)(Note) Comprehensive income: Six months ended September 30, 2022: ¥157 million [(87.6)%]
Six months ended September 30, 2021: ¥1,272 million [(37.6)%]
Basic earnings
Diluted earnings
per shareper share
Six months ended
Yen
Yen
September 30, 2022
2.47–
September 30, 2021
30.01–
(2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Net assets per share

Million yen%

Yen

75,289As of September 30, 2022
38,76878,295
As of March 31, 2022
40,497(Reference) Equity: As of September 30, 2022: ¥38,768 million
As of March 31, 2022: ¥40,497 million

51.5
51.7

1,063.66
1,082.33

Year-end

Total

2. Dividends
1stquarter-end
Yen

Annual dividends
2nd
3rd
quarter-end
quarter-end
Yen

Fiscal year ended March 31, 2022
–0.00
Fiscal year ending March 31, 2023
–0.00
Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently: NoYenYenYen–

30.00

30.00

–

30.00

30.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 to March31, 2023)(% indicates year-on-year changes)
Profit attributable to
Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Million yen%

Million yen%

Million yen%

Full year
92,600
8.8
4,700
6.4
4,700
7.8
(Note) Revision to the financial results forecast announced most recently: Yes

Million yen

3,300%

(0.1)

Yen

90.54

* Notes:(1) Changes in significant subsidiaries during the period under review(Changes in specified subsidiaries resulting in changes in scope of consolidation): 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) Number of shares issued (common shares)
1) Total number of shares issued at the end of the period (including treasury shares):
September 30, 2022:
38,414,407 shares
March 31, 2022:
40,414,407 shares2) Total number of treasury shares at the end of the period:
September 30, 2022:
1,966,343 shares
March 31, 2022:
2,996,909 shares
3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year):Six months ended September 30, 2022:
36,885,280 shares
Six months ended September 30, 2021:
39,716,615 shares* These consolidated financial results are outside the scope of quarterly review by certified public accountants oraudit corporations.
* Explanation of the proper use of financial results forecasts and other notes
1. Financial results forecasts are based on information available and certain assumptions deemed reasonable by the Company atthe time of preparation of this document, which may contain various uncertain factors. Thus, actual results and outcomesmay differ from these forecasts.
2. The Company is planning to hold a briefing session for institutional investors and analysts on Wednesday, November 30,2022. The briefing materials to be distributed at the session are scheduled to be promptly posted on the Company’s website
after the session is held.

(Reference) Non-Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1,2022 to March 31, 2023)(% indicates year-on-year changes)
Basic earnings
Net sales
Ordinary profit
Profitper share
Million yen%

Million yen%

Million yen

Full year
88,000
8.4
4,400
9.3
3,100(Note) Revision to the financial results forecast announced most recently: Yes%

0.6Yen85.05* Explanation of the proper use of financial results forecast and other notes
Financial results forecasts are based on information available and certain assumptions deemed reasonable by theCompany at the time of preparation of this document, which may contain various uncertain factors. Thus, actual
results and outcomes may differ from these forecasts.

Quarterly Consolidated Financial Statements and Primary Notes(1) Quarterly Consolidated Balance Sheets(Million yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and otherCosts on construction contracts in progress
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture andfixtures
Land
Construction in progress
Accumulated depreciation
Total property, plant and equipment
Intangible assets
Investments and other assets
Other
Total investments and other assets
Total non-current assets
Total assets

1

As of September 30, 2022

12,814

13,562

34,942

31,118

459
401
2,871
51,489

172
405
1,648
(5)
46,901

9,824

11,58921,51122,011

14,217763(21,464)
24,852250

14,697269(22,153)
26,414
241

1,703

1,731

1,703
26,80678,295

1,731
28,38775,289(Million yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes payable, accounts payable forconstruction contracts and other
Short-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Provision for warranties for completed
construction
Provision for loss on construction contracts
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
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-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeTotal net assets
Total liabilities and net assets

2

As of September 30, 2022

20,722

20,730

107
494

203
153

1,921

1,9633237

5
1,861
4,163
29,307

37
1,677
3,503
28,305

6,900
1,505
84
8,490
37,797

6,850
1,283
81
8,214
36,5202,000
521
40,248(2,502)40,2662,000
500
37,588(1,618)38,470

22

164
203

29
251

231

297

40,49778,29538,76875,289(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
Six Months Ended September 30(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Rental incomeForeign exchange gains
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Guarantee commission
Commission for purchase of treasury shares
Miscellaneous expenses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Reversal of provision for retirement benefits
Total extraordinary income
Extraordinary losses
Loss on sale of non-current assets
Loss on retirement of non-current assets
Expenses on dismantlement of non-current assets
Loss on sale of shares of subsidiaries andassociates
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

For the six months
ended September 30, 2021
38,66334,125
4,538
2,784
1,753

For the six months
ended September 30, 2022
41,89238,559
3,332
3,086
246

293
17
31

2
10
46
1271

18
16
3
947
1,737

27
13
22
671
246

130
14

2
20
6
30

119-

4-

41
1,710
518
1,191
1,191

20228
137
90
90

3

Quarterly Consolidated Statements of Comprehensive IncomeSix Months Ended September 30(Million yen)

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests

For the six months
ended September 30, 2021
1,191

For the six months
ended September 30, 2022
90(1)

(6)

2

25

80

47

81
1,272

66
157

1,272

157

--4

(3) Quarterly Consolidated Statements of Cash Flows(Million yen)
For the six months
ended September 30, 2021

For the six months
ended September 30, 2022

1,710
955

228
999

125(144)(202)(2)
18(184)(221)(2)
27(13)

8

6930
10,368

3,824

(104)

286

(3,797)8585

42(1,255)
(372)
7,794
2(15)
(936)
6,844

(10)
937
5,959
2(27)
(459)
5,475

(1,799)(2,902)14

63(185)

-

8-

(31)
(1,993)(71)(2,909)96(1,248)(1,730)(2,882)95(50)(799)(1,120)(1,874)357

1,972
14,03516,007748
12,814
13,562

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Loss (gain) on sale of property, plant andequipment
Loss on retirement of property, plant andequipment
Expenses on dismantlement of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction
contracts in progress
Increase (decrease) in trade payables
Increase (decrease) in advances received onconstruction contracts in progress
Decrease (increase) in deposits paid
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Dismantling of property, plant and equipment
Proceeds from sale of shares of subsidiaries andassociates resulting in change in scope ofconsolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
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 period5(4) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes in the case of significant changes in shareholders’ equity)
The Company retired 2,000,000 shares of its treasury shares on June 30, 2022, based on the resolution at theBoard of Directors meeting held on April 27, 2022. As a result, in the six months ended September 30, 2022,
capital surplus decreased by ¥21 million, retained earnings decreased by ¥1,627 million, and treasury shares
decreased by ¥1,648 million.
(Additional information)(Accounting estimates as to the impact of COVID-19)
There are no significant changes in the assumptions including those about the future impact and period of
convergence of the COVID-19 pandemic stated in “(Additional information)” in the Annual Securities Report(Yukashoken Houkokusho) for the fiscal year ended March 31, 2022.

6