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.

Non-consolidated Financial Results
for the Three Months Ended June 30, 2023
[Japanese GAAP]
July 31, 2023
Company name: KAWASAKI SETSUBI KOGYO CO., LTD.
Stock exchange listing: Nagoya
Code number: 1777
URL: https://www.kawasaki-sk.co.jp/
Representative: Katsushi Hiroe
President and Representative Director
Contact: Takashi Miwa
General Manager of Corporate Planning Department
Phone: +81-52-221-7700
Scheduled date of filing quarterly securities report: August 4, 2023
Scheduled date of commencing dividend payments: Availability of supplementary briefing material on quarterly financial results: Yes
Schedule of quarterly financial results briefing session: No(Amounts of less than one million yen are rounded down.)
1. Non-consolidated Financial Results for the Three Months Ended June 30, 2023 (April 1, 2023 to June 30, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)Net sales
Three months ended
June 30, 2023
June 30, 2022

Operating profit

Millions of yen% Millions of yen

4,314
4,616

(6.5)
(14.9)

Basic earnings
per share
Three months ended
June 30, 2023
June 30, 2022

Ordinary profit% Millions of yen

50
68(25.9)(84.2)

5876

Net income% Millions of yen(23.2)(82.6)

Diluted earnings pershare
Yen

Yen

2.85
3.26

-(2) Non-consolidated Financial Position
Total assets
As ofJune 30, 2023
March 31, 2023
(Reference) Equity:

Millions of yen

Net assets
Millions of yen

17,381
18,354As of June 30, 2023:
As of March 31, 2023:

Capital adequacy ratio¥¥

10,878
10,951
10,878 million
10,951 million

%

62.6
59.7

3438%

(12.3)(86.4)

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2023

-

8.00

-

10.00

18.00

Fiscal year ending March 31, 2024

8.00

-

10.00

18.00

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

Year-endTotalNo

3. Non-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.)
Basic earnings
Net sales
Operating profit
Ordinary profit
Net income
per share
Millions of yen% Millions of yen% Millions of yen

Six months ending
11,00014.9
4007.3
September 30, 2023
Full year
23,50012.9
1,1005.7(Note) Revision to the financial results forecast announced most recently:% Millions of yen

Yen

410

5.7261

4.2

21.82

1,120
No

4.2

754

6.663.02* Notes:(1) Accounting policies adopted specially for the preparation of quarterly Non-consolidated financial statements:(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 period (including treasury shares):
June 30, 2023:
12,000,000 shares
March 31, 2023:
12,000,000 shares
2) Number of treasury shares at the end of the period:
June 30, 2023:
35,827 shares
March 31, 2023:
35,827 shares
3) Average number of shares outstanding during the period:
Three months ended June 30, 2023:
Three months ended June 30, 2022:%

11,964,173 shares
11,964,173 shares

Quarterly Non-consolidated Financial Statements
Quarterly Non-consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Electronically recorded monetary claims operating
Accounts receivable from completed construction
contracts
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings, netLand
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

1

As of June 30, 2023

5,482
492

5,717
322

1,328

1,585

5,932

4,616

256
387
(82)
13,797

246
280
(69)
12,6991,536
1,592
111
3,240
422

1,518
1,592
104
3,215
561

919
(25)
893
4,557
18,354

930
(25)
905
4,681
17,381

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes payable - trade
Electronically recorded obligations - operating
Accounts payable for construction contracts
Income taxes payable
Advances received on construction contracts inprogress
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Provision for warranties for completedconstruction
Provision for loss on construction contracts
Asset retirement obligations
OtherTotal current liabilities
Non-current liabilities
Provision for retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-salesecurities
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets

2

As of June 30, 2023

184
1,024
2,632
117

146
973
1,850
34

819

815

500

131

16-121228596
5,931

21
5953
4,943

1,056
45
368
1,471
7,402

1,034
45
478
1,558
6,502

1,581
395
8,954
(7)
10,923

1,581
395
8,869
(7)
10,83728

40

28
10,951
18,35440
10,87817,381

Quarterly Non-consolidated Statements of Income
Quarterly Non-consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2022
Net sales of completed construction contracts
Cost of sales of completed construction contracts
Gross profit on completed construction contracts
Selling, general and administrative expensesOperating profit
Non-operating income
Dividend income
Rental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes
Profit3

For the three months
ended June 30, 2023
4,616
4,050
565
497
68

4,314
3,801
512
461
50

2
100
14

2
110
150
4
1
676
76
37
38

0
51
758
58
2434