Note: This document is a translation of the Japanese original. The Japanese original has been disclosed in Japan in accordance with Japanese accounting
standards and the Financial Instruments and Exchange Act. This document does not contain or constitute any guarantee and the Company will not compensate
any losses and/or damage stemming from actions taken based on this document. In the case that there is any discrepancy between the Japanese original andthis document, the Japanese original is assumed to be correct.

Consolidated Financial Results for the Three Months Ended June 30, 2024
[Japanese GAAP]
August 8, 2024
Stock exchange listing: Tokyo Stock Exchange, Prime section
URL: https://www.haseko.co.jp/hc/english/(Amounts are rounded to the nearest million yen)Company name: HASEKO Corporation
Code number: 1808

1. Consolidated Financial Results for the Three Months Ended June 30, 2024 (April 01, 2024 to June 30, 2024)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
June 30, 2024
June 30, 2023
(Note) Comprehensive income:Million yen%

Million yen

Million yen%

284,774
7.9
13,262(41.2)
15,493(31.8)
10,843263,919
12.7
22,573
13.1
22,73013.7
14,995Three months ended June 30, 2024:¥ 15,110 million [(17.9)%]
Three months ended June 30, 2023:¥ 18,398 million [5.8 %](27.7)
12.6

Basic earnings
per share
Three months ended
June 30, 2024
June 30, 2023%

Million yen%

Diluted earnings per
share
Yen

Yen

39.73
54.99

-

(2) Consolidated Financial Position
Total assets
As ofJune 30, 2024
March 31, 2024
(Reference) Equity:

Net assets

Million yen

Equity ratio

Million yen

1,219,406
1,351,231
As of June 30, 2024:
As of March 31, 2024:%

514,140
511,246¥ 514,140 Million¥ 511,246 Million

42.2
37.8

2. Dividends
Annual dividends
1stquarter-end

2ndquarter-end

3rdquarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2024

-

40.00

-

45.00

85.00

Fiscal year ending March 31, 2025

40.00

-

45.00

85.00

Fiscal year ending March 31, 2025
(Forecast)(Note) Revision to the forecast for dividends announced most recently:

Year-end

Total

No

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025(April 01, 2024 to March 31, 2025)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentMillion yen%

Million yen%

Six months ended
530,000
1.3
29,000 (33.0)
September 30, 2024
Full year
1,180,000
7.8
82,000(4.4)(Note) Revision to the financial results forecast announced most recently:

Million yen%

Million yen%

Yen

30,000(30.7)

20,000(30.3)

73.27

80,000No(4.0)

53,000(5.4)

194.16

* Notes:(1) Significant changes in the scope of consolidation during the period: 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: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2024:
300,794,397 Shares
March 31, 2024:
300,794,397 Shares2) Total number of treasury shares at the end of the period:
June 30, 2024:
27,819,587 shares
March 31, 2024:
28,009,610 shares
3) Average number of shares during the period:
Three months ended June 30, 2024:
272,924,723 shares
Three months ended June 30, 2023:
272,684,841 Shares(Note) The number of treasury stocks above includes shares held as the trust assets for the Board Benefit Trust (BBT) and the Employee
Stock Ownership Plan (ESOP).
Shares of the Company's own stock held in BBT and ESOP trust accounts are included in treasury stock subtracted from thecalculation of the average number of shares during the period.
* Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public
accountants or an audit firm: No
Explanation regarding appropriate use of forecasts, and other specific comments
The forecasts contained herein are based on information available as of the date of this announcement, and the actual results may differ
materially from forecasts due to various factors. For details of assumptions for financial forecasts and other related matters, please refer
to “1. Overview of Financial Results, etc. (3) Explanation of Forecast of Consolidated Financial Results and Other Forward-Looking
information” on page 3 of the Attachment.
Supplementary materials for this report and results briefing materials can be found on the Company’s website.

Table of contents of appendix
1.Overview of Financial Results, etc.

2(1) Overview of Financial Results for this period2(2) Overview of Financial Position for this period3(3) Explanation of Forecast of Consolidated Financial Results and Other Forward-Looking information
2.Quarterly Consolidated Financial Statements and Principal Notes

3(1) Quarterly Consolidated Balance Sheets

4(2) Quarterly Consolidated Statements of Income and Comprehensive Income

64(Quarterly Consolidated Statements of Income)6(Quarterly Consolidated Statements of Comprehensive Income)8(3) Notes to Quarterly Consolidated Financial Statements

9(Notes to Going Concern Assumption)

9(Notes to Significant Changes in the Amount of Shareholders’ Equity)

9(Notes on Changes in Accounting Policies)(Notes on Segment Information)

9(Notes on quarterly consolidated statements of cash flows)

1093.Non-consolidated Orders Received

11

-1-

1.Overview of Financial Results, etc.
(1) Overview of Financial Results for this period
For the three months ended on June 30, 2024, since increases in a volume of condominiums construction work, net sales
were 284.8 billion yen, up by 7.9% compared with the same period of the previous fiscal year. However, since the grossprofit margin of completed construction contracts declined and the effects of the reactionary decline of real estate sales
whose high profit margin in the same period of the previous fiscal year, operating profit was 13.3 billion yen, down by
41.2% compared with the same period of the previous fiscal year, ordinary profit was 15.5 billion yen, down by 31.8%
compared with the same period of the previous fiscal year, and profit attributable to owners of parents was 10.8 billion yen,down by 27.7% compared with the same period of the previous fiscal year.
Operating results by reportable segment are as follow:
Billions of yen
Construction-related

Real estate-related

Service-related

Overseas-related

businessbusinessbusinessbusiness

Net Sales

211.7(+8.7)

37.9(+9.8)

56.5(-4.2)

0.4(+0.4)

Segment profit

11.3(-5.3)

4.5(-1.9)

1.3(-1.6)-1.7(-0.8)

Figures in parentheses show the amount of increase or decrease from the same period of the previous fiscal year

(Construction-related business)
For construction works, projects owners have had high regard for the Company’s ability in gathering land information as
well as product planning, its attitude regarding construction quality and maintaining construction schedules, efficient
production system, and such. Meanwhile, the gross profit margin of completed construction contracts lowered due toworsened construction profitability upon receiving orders and higher costs of material and labor, among other factors.
In terms of orders for new construction of for-sale condominiums, the Company won orders for 17 projects intotal throughout Japan consisting of 14 in the Tokyo metropolitan area including 6 large projects of at least 200 units and
3 in the Kinki and Tokai areas. In addition, aside from construction of for-sale condominiums, the Company received orders
for 2 projects for rental housing.
As for construction completion, the Company completed construction of 17 projects including 4 projects forlogistics facilities, etc.
The segment posted sales of 211.7 billion yen, up by 4.3% compared with the same period of the previous
fiscal year because increases in a volume of condominiums construction work by the Company, and operating profit was
11.3 billion yen, down by 32.2% compared with the same period of the previous fiscal year because the gross profit
margin of completed construction contracts declined, among other factors.
(Real estate-related Business)
The segment posted sales of 37.9 billion yen, up by 34.7% compared with the same period of the previous fiscal year
because of an increase in a transaction volume of real estate by the Company, but operating profit of 4.5 billion yen, downby 29.4% compared with the same period of the previous fiscal year because of the effects of the reactionary decline ofreal estate sales whose high profit margin in the same period of the previous fiscal year.
(Service-related Business)
The volume of construction work in common areas and exclusive areas in for-sale condominium management operations
increased, but the number of units to be delivered in consigned sales of newly built condominiums and the volume of realestate sales for businesses in the real estate brokerage business decreased.
The segment posted sales of 56.5 billion yen, down by 6.9% compared with the same period of the previous
fiscal year, and operating profit of 1.3 billion yen, down by 55.0% compared with the same period of the previous fiscal
year.

-2-

(Overseas-related business)
The subsidiaries have been operating a commercial facility and developing new projects of for-sale detached housingbusiness in Oahu, Hawaii.
The segment posted sales of 0.4 billion yen (the sales of 0.0 billion yen in the same period of the previous fiscal
year) and operating loss of 1.7 billion yen (the operating loss of 0.9 billion yen in the same period of the previous fiscal
year). While the number of visitors to our commercial facilities has been steadily increasing, we continue to reduce costs
and strive to recover revenue.
(2) Overview of Financial Position for this period
Total assets as of June 30, 2024, a decreased of 131.8 billion yen from the end of the previous fiscal year to 1,219.4
billion yen. This is mainly due to a decrease in cash and deposits accompany with payment of income taxes anddividends.
Total liabilities were 705.3 billion yen, a decrease of 134.7 billion yen from the end of the previous fiscal year.
This is mainly due to decreases in accounts payable and income taxes payable.
Net assets were 514.1 billion yen, an increase of 2.9 billion yen from the end of the previous fiscal year. This ismainly due to an increase in foreign currency translation adjustment.
(3) Explanation of Forecast of Consolidated Financial Results and Other Forward- Looking Information
There is no change in the forecast announced on May 10th, 2024.

-3-

2.Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Securities
Costs on construction contracts in progress

284,129

164,201

148,526

130,590

2,255
12,733

1,663
15,387

Real estate for sale
Costs on real estate business

266,332
253,423

220,816
286,496

Real estate for development
Other

33,056
21,36735,87927,504

(121)

(130)

1,021,700

882,405

95,784

97,134

13,191

13,556

91,774

91,799Leased assets
Construction in progress

1,062
8,251

1,134
10,585

Other
Accumulated depreciation

130(34,566)

133(35,744)

Total property, plant and equipment

175,625

178,596

1,895

1,895

Goodwill
Other

1,981
7,160

1,930
7,316

Total intangible assets

11,036

11,141

Investment securities
Long-term loans receivable

91,444
3,551

95,0194,562

Retirement benefit asset
Deferred tax assets

29,362
5,545

29,812
4,966

Other
Allowance for doubtful accounts

13,925(958)

13,859(956)

Total investments and other assets

142,870

147,262

329,531

337,000

1,351,231

1,219,406

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Machinery, vehicles, tools, furniture andfixtures
Land

Intangible assets
Leasehold interests in land

Investments and other assets

Total non-current assets
Total assets-4-

(Millions of yen)
As of March 31, 2024
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts and other
Electronically recorded obligations - operating

As of June 30, 2024

100,694

89,10873,19340,856

Current portion of long-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Deposits received - real estate business
Provision for warranties for completed
construction
Provision for loss on construction contracts
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other

10,00015,853

10,0002,986

47,167

41,736

41,76523,704

4,861

4,716

687
6,019

495
3,122

208

-

93,93652,257

Total current liabilities

394,383

268,981

120,000

120,000

285,000
2,990

275,000
3,205

Provision for share awards
Provision for share awards for directors (and otherofficers)
Retirement benefit liability
Deferred tax liabilities

4,427

4,360

481

477

1,777
11

1,834
11

Other

30,916

31,398

Total non-current liabilities

445,601

436,284

839,985

705,266

Share capital
Capital surplus

57,5007,373

57,5007,373

Retained earnings
Treasury shares

461,707(37,233)

460,057(36,958)

Total shareholders' equity

489,347

487,973

10,452

7,577

11,101
345

18,168422

Non-current liabilities
Bonds payable
Long-term borrowings
Provision for loss on litigation

Total liabilities
Net assets
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 income
Total net assets
Total liabilities and net assets-5-

21,89926,167511,246

514,140

1,351,231

1,219,406

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
Net sales
Net sales of completed construction contracts

For the three months
ended June 30, 2024

127,367

139,658

Net sales of design and supervision
Net sales of leasing and management

1,055
22,201

1,913
23,154

Real estate sales
Other operating revenue

108,679
4,616

115,033
5,016

Total net sales

263,919284,774

Cost of sales of completed construction contracts
Cost of design and supervision

108,044525

122,378
945

Cost of leasing and management
Cost of sales - real estate

17,161
93,642

17,930106,694

Cost of sales

Other business expenses

3,857

4,094

223,230

252,040

Gross profit on completed construction contracts
Gross profit-design and supervision

19,323530

17,280968

Gross profit-leasing and management
Gross profit - real estate sales

5,040
15,037

5,224
8,339

Total cost of sales
Gross profit

Gross profit - other business

760

922

40,68932,733

Selling, general and administrative expenses

18,117

19,471

Operating profit

22,573

13,262

Interest income
Dividend income

62
238

64
2,563

Other

556

625

Total non-operating income

857

3,252

593

850

24

109

83

62

Total gross profit

Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profit

-6-

699

1,021

22,73015,493

(Millions of yen)
For the three months
ended June 30, 2023
Extraordinary income
Gain on sale of non-current assets

For the three months
ended June 30, 2024011

National subsidies
Other

-

7
0

Total extraordinary income

0

18

3
-

5
3

-

7

Extraordinary losses
Loss on disposal of non-current assets
Impairment losses
Loss on tax purpose reduction entry of non-current
assetsTotal extraordinary losses

3

14

Profit before income taxes

22,727

15,497

Income taxes - current

5,630

2,860

Income taxes - deferred

2,103

1,794

Total income taxes

7,733

4,654

Profit14,994

10,843

Loss attributable to non-controlling interests
Profit attributable to owners of parent

-7-

(0)

-

14,995

10,843

Quarterly Consolidated Statements of Comprehensive Income (For the three months)(Millions of yen)
For the three months
ended June 30, 2023
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

For the three months
ended June 30, 2024

14,994

10,843

2,545
622(2,875)
7,066

237

76

3,404

4,268

Comprehensive income

18,398

15,110Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests

18,39915,110(0)-Total other comprehensive income-8-(3) Notes to Quarterly Consolidated Financial Statements(Notes to Going Concern Assumption)
Not applicable.
(Notes to Significant Changes in the Amount of Shareholder’s Equity)
Not applicable.
(Notes to Changes in Accounting Policies)
The Company has applied the “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27, October 28,
2022; the “Revised Accounting Standard of 2022”) and other relevant ASBJ regulations from the beginning of the firstquarter ended June 30, 2024. Revisions to categories for recording current income taxes (taxation on othercomprehensive income) conform to the transitional treatment in the proviso of paragraph 20-3 of the Revised AccountingStandard of 2022 and the transitional treatment in the proviso of paragraph 65-2 (2) of the “Guidance on AccountingStandard for Tax Effect Accounting” (ASBJ Guidance No. 28, October 28, 2022, Accounting Standards Board of Japan).
These changes to our accounting policy do not affect our quarterly consolidated financial statements.
Also, for the amendment related to the revised accounting treatment for consolidated financial statements when gains orlosses on sale of shares in subsidiaries resulting from transactions between consolidated companies were deferred for tax
purposes, the Revised Implementation Guidance 2022 has been adopted from the beginning of the first quarter ended
June 30, 2024. This change in accounting policies was applied retrospectively. Hence, the quarterly consolidated financial
statements for the same quarter of the prior fiscal year and the consolidated financial statements for the prior fiscal year
have been modified retrospectively. This change in accounting policies has no impact on the quarterly consolidated
financial statements for the same quarter of the prior fiscal year and the consolidated financial statements for the priorfiscal year.
(Notes on Segment information)
1. Reportable segment information (net sales and profit (loss))
For the three months ended June 30,2023(Millions of Yen)
Reportable Segments

Adjustments
andConsolidated

relatedeliminations(Note 2)businessbusiness(Note 1)

Construction-

Real estate-

Service-

Overseas-

relatedrelatedrelatedbusinessbusiness

Total

Net sales
Sales to third parties

177,614

27,97758,29929

263,919－

263,919

Inter-segment
sales and transfer

25,364

123

2,384

－

27,871(27,871)－

Total

202,977

28,10060,68429291,790(27,871)

263,919

Segment profit(loss)

16,621

6,402

2,853

(917)

24,959(2,386)

22,573Note 1 : Adjustment and eliminations for segment profit include (1,210) million yen of elimination of inter-segment transactions and(1,177) million yen of corporate expenses, which are not allocable to the reportable segments. These corporate expenses mainly
consist of general and administrative expenses not attributable to reportable segments.
Note 2 : Segment profit(loss) has been adjusted with operating profit in the consolidated statement of income.

-9-For the three months ended June 30,2024(Millions of Yen)
Reportable Segments

Construction-

Real estate-

Adjustments

Service-

Overseas-

Total

and

Consolidated(Note 2)

relatedrelatedrelatedrelatedeliminations

businessbusiness

Businessbusiness(Note 1)

Net sales
Sales to third parties

192,040

37,74454,587403

284,774－

284,774

Inter-segment
sales and transfer

19,626

107

1,908

－

21,641(21,641)－

Total

211,666

37,85256,494403

306,414(21,641)

284,774

Segment profit(loss)

11,274

4,518

1,283

(1,738)15,337(2,075)

13,262

Note 1 : Adjustment and eliminations for segment profit include (1,019) million yen of elimination of inter-segment transactions and(1,055) million yen of corporate expenses, which are not allocable to the reportable segments. These corporate expenses mainly
consist of general and administrative expenses not attributable to reportable segments.
Note 2 : Segment profit(loss) has been adjusted with operating profit in the consolidated statement of income.

(Notes on quarterly consolidated statements of cash flows)
Quarterly consolidated statements of cash flows for the current quarterly consolidated accounting period have not been
prepared.
Depreciation expenses (including amortization expenses pertaining to intangible assets excluding goodwill) andamortization expenses of goodwill pertaining to the quarterly consolidated period under review are as follows.

Depreciation

For the three months ended

For the three months ended

June 30, 2023

June 30, 2024

1,716 million yen

1,963 million yen

51 million yen

51 million yen

Amortization of goodwill- 10 -

3.Non-consolidated Orders received(1) Non-consolidated Orders received
OrdersMillions of Yen％

For the three months ended June 30, 2024

119,423

7.4

For the three months ended June 30, 2023

111,21094.4* % indicates changes from the previous corresponding period.

〔Millions of Yen〕

Breakdown of orders Received
For the three months ended
June 30, 2023
AmountPrivate-sector
condominiums
Rental condominiums,
Company housing, etc.

%

For the three months ended
June 30, 2024
Amount%Increase(decrease)
Amount

%81,873(77.4%)

105,357(91.6%)

23,48428.7%

16,953(16.1%)

6,820(5.9%)(10,133)(59.8%)

98,826(93.5%)

112,177(97.5%)

13,351

13.5%

Non-Residence

2,456(2.3%)

11(0.0%)(2,445)(99.6%)

Others

4,468(4.2%)

2,864(2.5%)(1,604)(35.9%)

Construction Total

105,75095.1%

115,051

96.3%

9,302

8.8%

Consulting Contracts

1,879

1.7%

1,403

1.2%

(476)

(25.3%)

107,62996.8%

116,455

97.5%

8,826

8.2%

2,968

2.5%

(613)

(17.1%)

100.0%

8,213

7.4%

Residence Total

Construction business
Design and Supervision

3,581

3.2%

Orders Total

111,210100.0%

119,423* The figures in parentheses refer to the proportion of Construction Total.

(2) Non-consolidated Orders received forecast
Interim

AnnualMillions of Yen％

Millions of Yen％

March 2025 forecast

240,000

17.9

580,000

8.0

March 2024 result

203,572

25.3

536,94211.6* % indicates changes from the previous corresponding period.

Qualitative information of Orders Received result and forecast
Construction total were 115.1 billion yen, increased by 9.3 billion yen y/y and Orders received were 119.4 billion yen, increased by 8.2
billion yen y/y. A progress rate against the interim forecast of 240 billion yen was 49.8% and the progress was as expected.
We haven't revised the interim and annual forecast.

- 11 -