Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2022
(Based on Japanese GAAP)
August 5, 2022
NITTOC CONSTRUCTION CO., LTD.
Company name:
Stock exchange listing: Tokyo
Stock code:
Representative:

1929
URL https://www.nittoc.co.jp
President & Representative Director
Yasuo Wada

Inquiries:

Manager,
Accounting Department,Masakazu Itabashi

Administration Division
Scheduled date to file Quarterly Securities Report:

August 10, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:–No

Holding of quarterly financial results meeting:

NoTEL

03-5645-5047(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2022
Three months ended June 30, 2021
Note: Comprehensive income

Millions of yen
14,431
13,438Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen
%
7.4
345
10.4
436
29.2
248
16.2
–
313
–
337
–
214
–

Three months ended June 30, 2022

¥329 million [70.0%]

Three months ended June 30, 2021

¥193 million [–%]

Earnings per share

Diluted earnings per share
Yen
5.96
5.13

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen––

Note: The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020) and relevant
revised ASBJ regulations from the beginning of the first quarter of the previous fiscal year, and each figure for the first three months of thefiscal year ended March 31, 2022, is the figure after applying the accounting standard and relevant revised ASBJ regulations. The
percentage of year-on-year change is not shown.
(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022
Reference: Equity

Net assets

Millions of yen
48,62351,712Equity ratio

Millions of yen
29,60530,610

As of June 30, 2022

¥29,379 million

As of March 31, 2022

¥30,422 million

Net assets per share
%60.4
58.8

Yen
704.43729.42

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
8.00

Yen–

Yen
32.00

Yen
40.00

20.00

–

25.00

45.00

Year ending March 31, 2023 (Forecast)
Notes: 1. Revision of cash dividend forecast most recently announced: No

2. Breakdown of fiscal year–end dividends for the fiscal year ending March 31, 2023 (forecast):
Ordinary dividend of ¥20.00, and commemorative dividend of ¥5.00
1Total3. Forecast of consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Net sales
Millions of yen
Six months ending
September 30, 2022
Full year

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen%Yen

31,000

4.0

1,400

1.9

1,400(1.2)

920

(1.9)

22.06

68,500

3.7

4,600

1.7

4,550(1.6)

3,050

(8.4)

73.13

Note: Revision of consolidated financial results forecast most recently announced: No
4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:

Yes
No

Changes in accounting estimates:
Restatement of prior period financial statements:

NoNo(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022

41,708,367 shares As of March 31, 2022

41,708,367 shares

Number of treasury shares at the end of the period
As of June 30, 2022

1,526 shares As of March 31, 2022

1,321 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

41,706,945 shares Three months ended June 30, 2021

41,708,193 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants or an audit corporation.
* Proper use of forecasts of financial results, and other special matters
Financial results forecasts are based on information available to the Company at the time of release of this document. Actual financial results
may differ from the forecast figures due to various factors going forward.

2

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed

20,72322,42017,934

12,880

2,563

2,903

Merchandise and finished goods
Real estate for sale250180Costs on construction contracts in progress
Raw materials and supplies

301285453
272

Other
Allowance for doubtful accounts

693
(2)

559
(1)

42,52639,507

Buildings and structures, net
Machinery, vehicles, tools, furniture and fixtures, net

1,639
1,314

1,630
1,268

Land
Leased assets, net

2,578
0

2,578
0

253
2

257
2

5,787

5,736

Intangible assets
Investments and other assets

607

592

Investment securities
Deferred tax assets

417
2,003

426
1,993

Other
Allowance for doubtful accounts

403
(32)

393
(26)

Total investments and other assets

2,791

2,786

construction contracts and other
Electronically recorded monetary claims - operating

Total current assets
Non-current assets
Property, plant and equipment

Construction in progress
Other, net
Total property, plant and equipment

Total non-current assets
Total assets

39,185

9,115

51,712

48,623

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts
and other
Advances received on construction contracts in progress

11,921

10,056593

1,145

Lease liabilities
Income taxes payable

0555

–105

Provision for warranties for completed constructionProvision for loss on construction contracts

25
168

2755

Provision for bonuses
Provision for bonuses for directors (and other officers)

1,150
33

565
–

Other

2,341

2,735

Total current liabilities

16,79014,691

4
4,209

5
4,223

Non-current liabilities
Lease liabilities
Retirement benefit liability
Other

97

97

4,311

4,326

21,101

19,017

Share capital
Capital surplus

6,052
1,753

6,052
1,753

Retained earnings
Treasury shares

22,560(0)21,475(1)

Total shareholders' equity

30,36529,279

112

118

3(58)

33(51)

Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
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

456

99

188

226

30,61029,60551,712

48,623

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)

Net sales
Net sales of completed construction contracts

Three months ended

Three months ended

June 30, 2021

June 30, 2022
13,38014,37857

52

13,43814,431

Cost of sales of completed construction contracts
Cost of sales in other businesses

11,25030

12,09327

Total cost of sales

11,28012,121

2,130

2,285

Sales in other businesses
Total net sales
Cost of sales

Gross profit
Gross profit on completed construction contracts
Gross profit - other business

2724

2,157

2,310

1,844

1,964

313345Non-operating income
Interest income

21

Dividend income
license income14625

Foreign exchange gains
Other

6282
3

Total non-operating income

3295006040

Total gross profit
Selling, general and administrative expenses
Operating profit

Non-operating expenses
Interest expenses
Guarantee commission
Other
Total non-operating expenses

75337

436

Gain on sale of non-current assets

0–

Total extraordinary income

0–

Loss on sale and retirement of non-current assets

11

Total extraordinary losses

11

Profit before income taxes

335

434

Income taxes - current

136

160

Ordinary profit
Extraordinary incomeExtraordinary losses

Income taxes - deferred

(11)

4

Total income taxes

125

164

Profit210

269

Profit (loss) attributable to non-controlling interests

(3)

21

Profit attributable to owners of parent

214

248

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

ProfitOther comprehensive income

Three months ended

Three months ended

June 30, 2021

June 30, 2022
210

269

Valuation difference on available-for-sale securities
Foreign currency translation adjustment

(25)
(0)

546

Remeasurements of defined benefit plans, net of tax

87(16)

59Comprehensive income

Total other comprehensive income

193

329

Comprehensive income attributable toComprehensive income attributable to owners of parent

197

292

(3)

37

Comprehensive income attributable to non-controllinginterests6