Financial statements
1.Consolidated financial statements(1)Consoledated Balance Sheet
As of March 31,2019
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable from completed construction contracts and other
Costs on construction contracts in progress
Other inventories
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other
Short-term borrowings
Accounts payable - other
Income taxes payable
Advances received on construction contracts in progress
Provision for warranties for completed construction
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowingsDeferred tax liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total 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（Millions of Yen）
As of March 31,2020

23,54554,271
1,942494,877
259△21
84,92429,77752,092
2,066
69
3,111
252
△59
87,3106,701△3,855
2,845
1,808
2,045
△1,366
679
5,333
886

6,312
△3,688
2,624
1,694
2,088
△1,510
577
4,896
1,174

9,442
112
567
1,413
△681
10,855
17,075102,000

7,736
104
1,070
1,404
△652
9,662
15,734
103,044

30,125
2,790
2,028
1,790
6,903
501
4
7,002
51,147

26,988
1,807
548
1,524
9,138
590
214
9,128
49,940

650
8,253
12
4,342
126
13,38664,533

1,640
7,916
7
4,125
102
13,79063,731

9,614
2,166
23,616△1,14934,2489,614
2,165
25,576△6037,297

3,334△7△2933,032
185
37,466
102,000

2,196△7△361
1,828
188
39,313103,044

(2)Consolidated Statement of Income（Millions of Yen）
Previous Fiscal Year
（From April 1,2018
to March 31,2019）
Net sales
Net sales of completed construction contracts
Sales in other businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in other businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit - other businessTotal gross profit
Selling, general and administrative expenses
Selling expenses
General and administrative expenses
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity method
Foreign exchange gains
Outsourcing service income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Guarantee commission
Commission expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of non-current assetsGain on sales of investment securities
Gain on withdrawal of membership
Other
Total extraordinary income
Extraordinary losses
Loss on sales of non-current assets
Loss on retirement of non-current assets
Impairment loss
Loss on valuation of investment securities
Loss on valuation of other investments
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Current Fiscal Year（From April 1,2019
to March 31,2020）

134,194
1,518
135,713140,034
1,437
141,472

121,089
1,298
122,388

125,742
1,110
126,853

13,105220
13,325

14,292327
14,619

0
7,623
7,624
5,700

0
8,017
8,017
6,601

80
136
13
29－
23
282

42
145
5－
84
45
324

189
41
127
－
7
366
5,616

117
60
158
41
37
415
6,509

0
468
－
0
469

8
90
2
0102

－
0
56
－
－
3
60
6,025
1,796
60
1,857
4,168
△10
4,178

5
4
12
15
72－
111
6,500
2,172
16
2,189
4,310
10
4,300

(3)Consolidated Statement of Comprehensive Income（Millions of Yen）

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

Previous Fiscal Year
（From April 1,2018
to March 31,2019）
4,168

Current Fiscal Year
（From April 1,2019
to March 31,2020）
4,310

263
△782338
4,506△1,1370△67△1,2043,106

4,517△103,09510(4)Consolidated Statements of Changes in Net Assets
Previous fiscal year (From April 1,2018 to March 31,2019)(Millions of Yen)
Shareholders' equity
Capital stock
Balance at beginning of period

Capital surplus

9,614

Retained earnings

2,166

Treasury shares

20,777

Total shareholders' equity△145

32,413

Changes during period
Profit attributable to owners of parent

4,178

Dividends of surplus

4,178△1,340Purchase of treasury shares
Disposal of treasury shares△1,340△1,004△1,004000

Cancellation of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period－02,838△1,003

1,834

9,614

2,166

23,616△1,14934,248

Accuumulated other comprehensive income
Valuation difference on
available-for-salesecurities
Balance at beginning of period

3,070

Foreign currencytranslation adjustment

Remeasurements ofdefined benefit plans－

Total accumulated othercomprehensive income

△376

2,694

Non-controlling interests

115

Total net assets

35,223

Changes during period
Profit attributable to owners of parent

4,178

Dividends of surplus△1,340Purchase of treasury shares△1,004

Disposal of treasury shares

0Cancellation of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period－263△782338

69408

263

△782338

69

2,242

3,334

△7△2933,032

185

37,466

(4)Consolidated Statements of Changes in Net Assets
Previous fiscal year (From April 1,2019 to March 31,2020)(Millions of Yen)
Shareholders' equity
Capital stock
Balance at beginning of period

Capital surplus

9,614

Retained earnings

2,166

Treasury shares

23,616

Total shareholders' equity△1,14934,248

Changes during period
Profit attributable to owners of parent

4,300

Dividends of surplus

4,300△1,233Purchase of treasury shares△1,233△18Disposal of treasury shares

0

△1800

△0

△1,106

1,107－－

△0

1,960

1,088

3,048

9,614

2,165

25,576△60

37,297

Cancellation of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

Accuumulated other comprehensive income
Valuation difference on
available-for-salesecurities
Balance at beginning of period

3,334Foreign currencytranslation adjustment

Remeasurements ofdefined benefit plans△7△293

Total accumulated othercomprehensive income

3,032

Non-controlling interests

185

Total net assets

37,466

Changes during period
Profit attributable to owners of parent

4,300

Dividends of surplus△1,233Purchase of treasury shares△18

Disposal of treasury shares

0Cancellation of treasury shares
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period－△1,1370△67△1,2042△1,201△1,1370△67△1,20421,846

2,196△7△361

1,828

188

39,313

(5)Consolidated Statement of Cash Flows
Curent fiscal year(From April 1,2018
to March 31,2019)
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment loss
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on construction contracts
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss (gain) on sales of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts in progress
Decrease (increase) in inventories
Decrease (increase) in accounts receivable - other
Increase (decrease) in trade payables
Loss (gain) on sales of investment securities
Loss (gain) on valuation of investment securities
Increase (decrease) in accounts payable - other
Increase (decrease) in advances received on construction contracts in progress
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sales and redemption of investment securities
Purchase of shares of subsidiaries resulting in change in scope of consolidation
Collection of loans receivable
Payments of guarantee deposits
Proceeds from refund of guarantee deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Proceeds from issuance of bonds
Net decrease (increase) in treasury shares
Dividends paid
Dividends paid to non-controlling interests
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period（Millions of Yen）
Curent fiscal year
(From April 1,2019
to March 31,2020)

6,025
463
56
△17△52141
△216
189
△29△0
△11,248△1,018△0△1,379△223△468－△1,112△1,561
178△10,273213△201△1,158△11,4196,500
523
1210209△314△18711741△22,179△124△201,766△3,137△9015△1,465
2,234
2,349
10,618185△118△2,457
8,228

△848
0
△342
△419
1,077
△499
10
△219△5△1,037

△215
193
△446
△9167－
10
△109
20
4△385

△1,368700△1,694634△1,003△1,208－△3,94029△16,368
39,91323,545

△990
－
△330
938
△18
△1,160△7△1,568△416,232
23,54529,777