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 Six Months Ended September 30, 2022
[Japanese GAAP]
October 31, 2022
Company name: KAWASAKI SETSUBI KOGYO CO., LTD.
Stock exchange listing: Nagoya
Code number: 1777
URL: http://www.kawasaki-sk.co.jp/
Representative: Katsushi Hiroe
President and Representative Director
Contact: Takashi Miwa
General Manager of Corporate Planning Department
Phone: 052-221-7700
Scheduled date of filing quarterly securities report: November 07, 2022
Scheduled date of commencing dividend payments: December 05, 2022
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 Six Months Ended September 30, 2022 (April 01, 2022 to September 30, 2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Six months ended
September 30, 2022
September 30, 2021

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen%

9,573
11,186(14.4)
11.2

372
674(44.7)
50.4

387
689(43.8)
46.2

250
448

(44.2)
46.3

Basic earnings
per share
Six months ended
September 30, 2022
September 30, 2021

Diluted earnings pershare
Yen

Yen

20.93
37.50

-(2) Non-consolidated Financial Position
Total assets
Million yen
As ofSeptember 30, 2022
17,694
March 31, 202219,025(Reference) Equity: As of September 30, 2022:
As of March 31, 2022:

Net assets

Capital adequacy ratio

Million yen¥¥

10,576
10,430
10,576 million
10,430 million

%

59.8
54.8

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2022

-

10.00

-

8.00

18.00

Fiscal year ending March 31, 2023

-

8.00
-

10.00

18.00

Fiscal year ending March 31, 2023
(Forecast)(Note) Revision to the forecast for dividends announced most recently:
No(Note) Breakdown of the 2nd quarter dividend for the fiscal year ending March 31, 2023 :Commemorative dividend- yenSpecial dividend- yenYear-endTotal

3. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023(April 01, 2022 to March 31, 2023)(% indicates changes from the previous corresponding period.)
Basic earnings
Net sales
Operating profit
Ordinary profit
Net income
per share%

Million yen%

Million yen%

Yen

Full year
22,500(4.7)
1,000 (21.1)(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen

1,020
No

(20.7)

684(19.6)

57.17* 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):
September 30, 2022:
12,000,000 shares
March 31, 2022:
12,000,000 shares2) Total number of treasury shares at the end of the period:
September 30, 2022:
35,827 shares
March 31, 2022:
35,827 shares
3) Average number of shares during the period:
Six months ended September 30, 2022:
Six months ended September 30, 2021:

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

Quarterly Non-consolidated Financial Statements
Quarterly Non-consolidated Balance Sheets(Million yen)
As of March 31,2022
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, net
Land
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 September 30,2022

4,822
113

3,750
191,811

1,444

6,853

6,731

262
723
(97)
14,489

424
796
(91)
13,075

1,575
1,606
97
3,279
359

1,539
1,606
94
3,241
482

925
(28)
897
4,536
19,025

920
(25)
895
4,618
17,694

(Million yen)
As of March 31,2022
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 September 30,2022

229
1,060
3,101
325

156
1,184
2,322
152

845

783

493

318

15-1250

68
1,027
7,180

48
585
5,602

1,058
43
312
1,414
8,595

1,054
43
416
1,515
7,117

1,581
395
8,439
(7)
10,407

1,581
395
8,593
(7)
10,5622214

22
10,43019,025

14
10,576
17,694

Quarterly Non-consolidated Statements of Income
Quarterly Non-consolidated Statements of Income (For the six months)(Million yen)
For the six months
ended September 30,2021
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
Gain on sale of non-current assets
OtherTotal non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Stocks maintenance fee
Office relocation expenses
Other
Total non-operating expenses
Ordinary profit
Profit before income taxes
Income taxes
Profit3

For the six months
ended September 30,2022

11,186
9,541
1,644
970
674

9,573
8,190
1,383
1,010
372

2
21
753632312901025221689
689
240
448

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387137250