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 Nine Months Ended December 31, 2023
[Japanese GAAP]
January 31, 2024
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: February 5, 2024
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 Nine Months Ended December 31, 2023 (April 1, 2023 to December 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Nine months ended
December 31, 2023
December 31, 2022

Operating profit

Millions of yen

15,61514,146% Millions of yen

10.4(18.7)

Basic earnings
per share
Nine months ended
December 31, 2023
December 31, 2022

Ordinary profit% Millions of yen

725
630

15.0
(38.7)

740
655

Net income% Millions of yen

13.0(37.4)

Diluted earnings pershare
Yen

Yen

40.60
35.53

-(2) Non-consolidated Financial Position
Total assets
Millions of yen
As ofDecember 31, 2023
19,125
March 31, 2023
18,354(Reference) Equity: As of December 31, 2023:
As of March 31, 2023:

Net assets

Capital adequacy ratio

Millions of yen¥¥

11,233
10,951
11,233 million
10,951 million

%

58.7
59.7

485425%

14.3(38.6)

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

Year-end

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

TotalNo

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

Full year
23,50012.9
1,1005.7(Note) Revision to the financial results forecast announced most recently:

1,120
No

% Millions of yen

4.2754* 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):December 31, 2023:
12,000,000 shares
March 31, 2023:
12,000,000 shares
2) Number of treasury shares at the end of the period:
December 31, 2023:
35,827 shares
March 31, 2023:
35,827 shares
3) Average number of shares outstanding during the period:
Nine months ended December 31, 2023:
Nine months ended December 31, 2022:

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

%Yen

6.6

63.02

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 December 31, 2023

5,482
492

4,273
63

1,328

2,029

5,932

7,462

256
387
(82)
13,797

526
281
(101)
14,536

1,536
1,592
111
3,240
422

1,4821,592
96
3,170
517

919
(25)
893
4,557
18,354

925
(25)
900
4,589
19,125

(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
Other
Total 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 December 31, 2023

184
1,024
2,632
117

164
1,290
2,554
103

819

1,069

500

255

16-1210

28
596
5,931

917
6,366

1,056
45
368
1,4717,402

1,058
45
421
1,525
7,891

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

1,581
395
9,225
(7)
11,19328

40

28
10,951
18,35440
11,233
19,125

Quarterly Non-consolidated Statements of Income
Quarterly Non-consolidated Statements of Income (For the nine months)(Millions of yen)
For the nine months
ended December 31, 2022
Net sales of completed construction contracts
Cost of sales of completed construction contracts
Gross profit on completed construction contracts
Selling, general and administrative expenses
Operating 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 nine months
ended December 31, 2023

14,146
12,007
2,139
1,508
630

15,615
13,303
2,312
1,587
725

6
34
748

6
34
2
43

1
15
723
655
655
230
425

1
19
6
28
740
740
255
485