Financial Briefing Material
for the First Quarter of the
Period Ending March 2023
August 5, 2022

Contents

Consolidated Performance SummaryFirst Quarter Financial Closing Highlights
Full-Year Earnings Forecast
Reference: DATA FILE

2

First Quarter Financial Results
for the Period Ending March 2023

Consolidated
Performance
Summary3

Consolidated Performance Summary
Overview of consolidated management indicators, etc. (operating results)(Millions of yen)
1st Quarter of
period ended
March 2022

1st Quarter of
period ending
March 2023

Increase(Decrease)

Change rate

Net sales of uncompleted construction
contracts at beginning of period

143,043

163,782

20,738

14.5%

Net sales of construction contract orders
received

44,69866,71222,01449.3%

Net sales of completed construction
contracts

27,25635,342

8,085

29.7%

3,587

4,280

693

19.3%

13.2%

12.1%

-1.0p

528
1.9%
760
2.8%
501
1.8%

818
2.3%
1,308
3.7%
862
2.4%

289
0.4p
547
0.9p
360
0.6p

Gross profit on completed construction
contracts
Gross profit margin of completed
construction contracts (%)
Operating profit
Operating profit margin (%)
Ordinary profit
Ordinary profit margin (%)
Net profit attributable to owners of parent
Net profit margin (%)

54.8%
72.0%
71.9%

Business environment and the Company’s performance summary Net sales of construction contract orders received increased significantly year-on-year as a result of strong orders for redevelopment
projects and industrial facilities, especially large-scale construction projects for the current period, against the backdrop of corporations’increasing demand for capital investment.
 Amid intensifying competition for order acquisition and soaring prices of materials and equipment, our expected improvement in profits
was not realized, and the gross profit margin of completed construction contracts declined. However, uncompleted construction contracts
that had been secured in the previous period made progress, pushing up net sales of completed construction contracts and gross profit oncompleted construction contracts as well.
 As a result of the above factors, both sales and profits increased.
© 2022 DAI-DAN Co.,Ltd.

4

Consolidated Performance Summary
Breakdown of increase in consolidated operating profit(Millions of yen)

230

(552)

169

Increase Decrease

844

(401)
818

528

Results of 1st Quarterof period ended March
2022

Increase in value ofwork done for general
construction contracts

Increase in value ofwork done forrenovations

Foreign exchange
effects due to the
yen’s depreciation

Decrease in gross profit Due to an increase in Results of 1st Quarter
margin of completed
SG&A expenses and of period ending March
construction contracts
other factors
2023

 The increase in profit from general construction is attributable to considerable progress on large-scale construction projects, such as airports,
medical facilities and redevelopment projects. The increase in profit from renovations is attributable to the considerable progress on large-scaleconstruction projects, such as factories and data centers.
 The yen’s rapid depreciation that began at the end of the previous period continued in the current period, resulting in an increase in foreign
currency-denominated sales of our overseas branches.
 For construction projects making progress in the current period, amid intensifying competition for order acquisition and soaring prices ofmaterials and equipment, the expected improvement in profits was not realized, resulting in a decline in gross profit margin of completed
construction contracts.
© 2022 DAI-DAN Co.,Ltd.

5

Consolidated Performance Summary
Trends in consolidated net sales by construction type(Millions of yen)Orders received

1st Quarter of
period ended
March 2022

1,209

18.1%

Air conditioning installations

27,35245,041

17,68964.7%

Plumbing installations

10,64813,764

3,115

29.3%

Subtotal

38,001
44,6984,070

58,80566,712
6,102

20,80422,014
2,032

54.7%
49.3%
49.9%

Air conditioning installations

16,13521,446

5,311

32.9%

Plumbing installations

7,050

7,792

741

10.5%

23,18627,256
24,511

29,23935,34225,266

6,053
8,085
754

26.1%
29.7%
3.1%

Air conditioning installations

97,155

129,228

32,07333.0%

Plumbing installations

38,81840,656

1,838

4.7%

135,973
160,484

169,885
195,152

33,912
34,667

24.9%
21.6%

Net sales(completed)

Electrical installations

Subtotal

Net sales(uncompleted)

Total
Electrical installationsAir
conditioning
and plumbing
installations

Change rate

7,906

Total
Air
conditioning
and plumbing
installations

Increase(Decrease)

6,697Electrical installationsAir
conditioning
and plumbing
installations

1st Quarter of
period ending
March 2023

Subtotal
Total

 Orders received for air conditioning and plumbing installations posted an increase thanks to orders for large-scale
redevelopment projects, data centers and research labs, and heat source construction works for overseas resort facilities.
 Net sales (completed) increased due to progress on large-scale construction projects such as airports and medical facilities.
 Net sales (uncompleted) increased, supported by orders received for large-scale construction such as redevelopment projects,
industrial facilities, and medical facilities.
* The “Air conditioning and plumbing installations” category has been set as a total of air conditioning installations and plumbing
installations© 2022 DAI-DAN Co.,Ltd.

6

Consolidated Performance Summary
Overview of consolidated management indicators, etc. (financial position)(Millions of yen)
Period ended
March 2022

1st Quarter of
period ending
March 2023

Increase(Decrease)

Change rate

Major factors behind increase/decrease andannotation items

Net assets

77,242

77,040

(201)

-0.3%

Dividend payment exceeded retained earnings.

Total assets

139,099

126,427(12,672)-9.1%

Payment of liabilities recorded in the previous period
made progress.

3,603.11 yen 3,592.78 yen (10.33 yen)

-0.3%Book value per share (BPS)

Price book-value ratio (PBR)

Equity capital ratio

0.58 times

0.59 times

–

–

55.4%

60.8%

5.4p

–

(Reference) Closing stock price as of Mar. 31, 2022:
2,099 yen
Closing stock price as of Jun. 30, 2022:
2,113 yen

Overview of consolidated management indicators, etc. (cash flows)[Reference: Not disclosed in the brief report on financial statements](Millions of yen)
1st Quarter of
period ended
March 2022

1st Quarter of
period ending
March 2023

Increase(Decrease)

Change rate

Major factors behind increase/decrease andannotation items

Cash flows from operating activities(4,683)

(657)

4,025

–

Cash flows from investing activities

(476)

(860)

(384)

–

Reconstruction of Hokuriku Branch

Cash flows from financing activities(1,188)(1,287)(98)–

Dividend payment

Cash and cash equivalents at
beginning of period

31,747

16,037(15,710)-49.5%

Increase/decrease in cash and cash
equivalents(6,350)(2,655)

3,694–

Cash and cash equivalents at end ofquarter

25,397

13,381(12,015)-47.3%© 2022 DAI-DAN Co.,Ltd.

7

Consolidated Performance Summary
Breakdown of cash flows(Trends in period-end balance of cash and cash equivalents)(Millions of yen)

Increase Decrease

Period-end cash
and cashequivalents
16,037

Period ended
March 2022

(657)
Operating CF(860)
Investing CF(1,287)
Financing CF

Period-end cash
and cashequivalents
13,381

1st Quarter of period
ending March 2023

 Regarding the breakdown of cash flows, net cash decreased in all three categories due to different factors: Operating CF (advancepayment of construction costs), Investing CF (reconstruction of Hokuriku Branch), and Financing CF (dividend payment).
 We have signed commitment credit line agreements with three banks for efficient working capital financing.

© 2022 DAI-DAN Co.,Ltd.

8

First Quarter Financial Results
for the Period Ending March 2023

First Quarter
Financial Closing
Highlights
9Status of construction orders received
Renovations, direct orders, and public works(Millions of yen)
Period ending
March 2023

Period ended March 2022
First quarter

Second to fourth
quarters

Full year

First quarter

24,80364,421

89,22430,251

Ratio of renovations (%)

55.5%

46.4%

48.6%

45.3%

Mid-to-large renovations

15,53939,06554,605

Small-scale renovations

9,263

25,355General construction works

19,894

Total orders received
Of which, direct orders

Renovations

Ratio of direct orders (%)
Of which, public works
Ratio of public works (%)

Year-on-year change
Increase(Decrease)

Change rate

5,447

22.0%

16,491951

6.1%

34,61913,759

4,496

48.5%

74,54894,44336,461

16,56783.3%

44,698138,970

183,668

66,71222,014

49.3%

20,394

66,591

86,98533,27912,885

63.2%

45.6%

47.9%

47.4%

49.9%

3,927

27,47531,403

5,606

1,679

42.7%

8.8%

19.8%

17.1%

8.4%

 Renovations increased year-on-year supported by corporations’ increasing demand for capital investment as they resume their businessactivities, with a sharp increase in small-scale renovation projects.
 General construction work increased year-on-year thanks to orders received for redevelopment projects and industrial facilities in Japan,
and heat source construction works for overseas resort facilities.
 The increase in direct orders is attributable to the above-mentioned industrial facility and overseas construction works.

© 2022 DAI-DAN Co.,Ltd.

10

Status of construction orders received
Industrial facilities(Millions of yen)
Period ending
March 2023

Period ended March 2022
First quarter
Total industrial
facilities(Share of totalorders: %)Total orders
received

Second to fourth
quarters

Full year

First quarter

18,862

55,771

74,63329,452

42.2%

40.1%

40.6%

44.1%

44,698138,970

183,668

66,712Year-on-year change
Increase(Decrease)

Change rate

10,58956.1%

22,01449.3%* Factories, labs, data centers, and logistics facilities are classified as “industrial facilities.”

Trends in industrial facility orders received(Millions of yen)
Industrial facilities

Of which, small-scale work

Industrial facilities’ share of total orders

30,000

3,337

50.0%
40.0%

20,00026,1153,704
10,000

30.0%

3,038
15,756

15,683

1Q ofperiod ended
March 2019

1Q ofperiod ended
March 2020

11,341

15,82420.0%

 Demand for data center expansion
remains at a high level, and the amount of
capital investment has been increasing inrecent years. During the current period,
we received multiple orders for large-scaledata center projects.
 Against the backdrop of corporations’increasing demand for capital investment,
we received the largest amount of orders
in the last five years.

10.0%

0

0.0%

© 2022 DAI-DAN Co.,Ltd.

1Q ofperiod ended
March 2021

1Q ofperiod ended
March 2022

1Q ofperiod ending
March 2023

11

Status of construction orders received
Overseas operations
 Singapore Branch, DAI-DAN INTERNATIONAL ASIA PTE. LTD. (Singapore), DAI-DAN (THAILAND) CO., LTD., and DAI-DAN (VIETNAM)
CO., LTD. are the pillars of our overseas operations.
 As our new overseas bases, we established DAI-DAN Taiwan CO., LTD. in the current fiscal year.
(Millions of yen)

Period ending
March 2023

Period ended March 2022
Second to fourth
quarters

First quarter

Full year

First quarter

Total overseas orders
received (Consolidated)

2,401

8,984

11,386

10,029(Share of total orders: %)

5.4%

6.5%

6.2%

15.0%

44,698138,970

183,668

66,712

Total orders received

Trends in overseas construction orders received (Consolidated)(Millions of yen)

Singapore Branch

DAI-DAN INTERNATIONAL ASIA

DAI-DAN (THAILAND)

Overseas share of total orders

12,000

161
2,291

8,000

4,000

82
2,839

0
1Q of
period ended
March 2019
© 2022 DAI-DAN Co.,Ltd.

7,578
357
734

211
1,042

1Q of
period ended
March 2020

1Q ofperiod ended
March 2021

85
2,317
1Q of
period ended
March 2022

Year-on-year change
Increase(Decrease)

Change rate

7,628

317.6%

22,01449.3%

 Singapore is moving toward “coexistingwith Covid-19,” and now order receiving
activities and the operation of construction
sites are returning to the pre-pandemic
20.0%
condition.
 During the current period, orders were
15.0%
received for heat source construction
works for large-scale resort facilities in
10.0%
Singapore, leading to a substantial yearon-year increase.
5.0%
0.0%

1Q of
period ending
March 2023

12

Status of completed construction contracts(Millions of yen)First quarter of period ended March 2022
Monetary amountComposition ratio

First quarter of period ending March 2023
Monetary amountComposition ratio

Year-on-year change
Monetary amount

Change rate

Total net sales of completed
construction contracts

27,256100.0%

35,342100.0%

8,085

29.7%

Of which;(Industrial facilities)

12,03044.1%

14,293

40.4%

2,263

18.8%

(Renovations)

14,80654.3%

16,479

46.6%

1,672

11.3%

1,477

5.4%

2,738

7.7%

1,260

85.3%

(Overseas operations)* The figures in the table include a certain amount of overlap, as calculation is done by construction type: industrial facilities, renovations, and overseas operations.

Consolidated net sales of completed construction contracts(Millions of yen)

40,00030,00020,00010,000 During the current period, large-scaleconstruction projects made progress,
especially airports and medical
facilities, and net sales of completed
construction contracts increased as awhole.
 Industrial facility construction works
and renovations made progress,
especially for factories and data
centers, causing net sales ofcompleted construction contracts to
grow.

0
1Q of
period ended
March 2019
Overseas operations© 2022 DAI-DAN Co.,Ltd.

1Q ofperiod ended
March 2020
Renovations

1Q ofperiod ended
March 2021

Industrial facilities

1Q ofperiod ended
March 2022

1Q ofperiod ending
March 2023

Total net sales of completed construction contracts

13

Status of uncompleted construction contracts(Millions of yen)First quarter of period ended March 2022

First quarter of period ending March 2023

Monetary amountComposition ratio

Monetary amountComposition ratio

Year-on-year change
Monetary amount

Change rate

Net sales of uncompleted
construction contracts at
beginning of period

143,043–

163,782–

20,738

14.5%

Net sales of construction
contract orders received

44,698–66,712–22,01449.3%

Net sales of completed
construction contracts

27,256–35,342

–

8,085

29.7%

Net sales of uncompleted
construction contracts

160,484

100.0%

195,152

100.0%

34,667

21.6%

Of which;(Industrial facilities)

47,08829.3%

60,41731.0%

13,32828.3%(Renovations)(Overseas operations)

42,851
12,79026.7%
8.0%50,66820,130

26.0%
10.3%

7,816
7,339

18.2%
57.4%

Of these, contracts to becompleted in current period

89,348–104,264–

14,915

16.7%* The figures in the table include a certain amount of overlap, as calculation is done by construction type: industrial facilities, renovations, and overseas operations.

Consolidated net sales of uncompleted construction contracts(Millions of yen)

200,000
160,000
120,000
80,00040,0000
1Q ofperiod ended
March 2019
Overseas operations© 2022 DAI-DAN Co.,Ltd.

1Q ofperiod ended
March 2020

Renovations

1Q ofperiod ended
March 2021

Industrial facilities

1Q ofperiod ended
March 2022

1Q ofperiod ending
March 2023

 As for uncompleted construction
contracts for the current period, net
sales of construction contract orders
received exceeded net sales ofcompleted construction contracts,
posting year-on-year growth.
 A sufficient volume of unfinishedconstruction projects has been secured,
especially for large-scale projects suchas medical facilities and industrial
facilities, and these will contribute to thevalue of work done for the current
period.

Total net sales of uncompleted construction contracts

14

First Quarter Financial Results
for the Period Ending March 2023

Full-Year Earnings
Forecast for the
Period Ending
March 2023
15

Full-year earnings forecast
Consolidated full-year earnings forecast(Millions of yen)
Period ended March 2022

Second tofourth quarters(Forecast)183,668

66,712

126,288

193,000

9,332

5.1%

135,673

162,929

35,342

139,658

175,000

12,071

7.4%

3,587

17,136

20,723

4,280

18,72023,000

2,277

11.0%

13.2%

12.6%

12.7%

12.1%

13.4%

13.1%

0.4%

528

7,056

7,584

818

7,682

8,500

916

1.9%

5.2%

4.7%

2.3%

5.5%

4.9%

0.2%

760

7,335

8,095

1,308

7,392

8,700

605

2.8%

5.4%

5.0%

3.7%

5.3%

5.0%

0.0%

501

5,277

5,778

862

5,138

6,000

222

1.8%

3.9%

3.5%

2.4%

3.7%

3.4%

-0.1%

Second tofourth quarters

Net sales of construction
contract orders received

44,698138,970

Net sales of completed
construction contracts

27,256Gross profit on completed
construction contracts
Gross profit margin ofcompleted construction
contracts (%)

Operating profit margin (%)
Ordinary profit
Ordinary profit margin (%)
Net profit attributable toowners of parent
Net profit margin (%)

Year-on-year change, full year

First quarter

First quarter

Operating profit

Period ending March 2023
Full year

Full-year(Forecast)

Increase(Decrease)

Change rate

12.1%
7.5%

3.8%

Preconditions for earnings forecast There has been no change to our earnings forecast in the brief report on the financial statements announced on May 11, 2022.
 Given the increase in both sales and profits achieved in the first quarter of the current period as well as a sufficient volume of uncompleted
construction contracts to be completed in the current period, our full-year earnings are expected to reach the figures in the forecast shown
above.
© 2022 DAI-DAN Co.,Ltd.

16

Shareholder return
Shareholder return policy
 We consider returning profits to our shareholders through profit distribution as the most important management issue and strive to build asound financial structure.
 We have a dividend policy of striving for a payout ratio of 30% or more as per the numerical targets in our Mid-Term Management Plan.

Dividend status
Full-year dividend
End of second
quarter

End of period

Total

Total dividend(Total sum)

Dividend ratio(Consolidated)

Dividend on equity
ratio(Consolidated)

Yen SenYen SenYen SenMillion yen%%

Period ended March 2021

45.00

45.00

90.00

1,949

30.8%

2.7%

Period ended March 2022

45.00

45.00

90.00

1,935

33.3%

2.5%

Period ending March 2023

45.00

55.00

100.00

–

35.7%

–

(Forecast) We will celebrate the 120th anniversary of our company’s founding on March 4, 2023. We would like to express our sincere gratitude to allof our shareholders and other stakeholders for their support.
As a token of our gratitude to all the shareholders who have supported us, we will pay an ordinary dividend of 90 yen, plus a dividend of
10 yen to commemorate the 120th anniversary of our company’s founding, totaling 100 yen as an annual dividend per share (an interim
dividend of 45 yen and a year-end dividend of 55 yen) for the current fiscal year.

Purchase of treasury shares We will consider it as appropriate aiming for returning profits to our shareholders and improving capital efficiency.
© 2022 DAI-DAN Co.,Ltd.

17

Reference:
DATA FILE(Full Year)18

Consolidated net sales of construction orders received
by construction type (Full year)(Millions of yen)
Period ended
March 2018

Period ended
March 2020

Period ended
March 2021

Period ended
March 2022

22,73525,69030,88527,23627,254Air conditioning
installations

92,09393,289102,515

104,878

117,966

Plumbing
installations

32,50639,55336,72044,41038,447

124,600

132,843

139,236

149,289

156,414147,335

158,533

170,121

176,526

183,668

Electrical installationsAir
conditioning
and plumbing
installations

Period ended
March 2019

Subtotal
Total

Consolidated orders received (by construction type)(Millions of yen)

200,000

160,000

30,88527,23627,25425,69022,735

Electrical installations

120,000

124,600
80,000(92,093)

132,843(93,289)

139,236(102,515)

149,286(104,878)

Air conditioning
and plumbing installations

156,614(117,966)(

Air conditioning installations)(

Plumbing installations)

40,000(32,506)(39,553)(36,720)

Period ended
March 2019

Period ended
March 2020

(44,410)(38,447)

0
Period ended
March 2018
© 2022 DAI-DAN Co.,Ltd.

Period ended
March 2021

Period ended
March 2022

19

Trends in consolidated orders received(Orders received / Renovations) (Full year)(Millions of yen)
Period ended March
2018

Period ended March
2019

Period ended March
2020

Period ended March
2021

Period ended March
2022

147,335

158,533

170,121

176,526

183,668

Renovations

71,748

82,10985,00177,75489,224

Percentage ofrenovations

48.7%

51.8%

50.0%

44.0%

48.6%

Net sales of
construction contract
orders received

Trends in consolidated orders received(Orders received / Renovations [Orders received / Percentage])(Millions of yen)

200,000

60.0%

50.0%
150,000
40.0%

100,000

30.0%

20.0%
50,00071,748

82,10985,00177,754

Period ended
March 2019

Period ended
March 2020

Period ended
March 2021

Of which, renovations

Orders received

Percentae of renovations

89,224
10.0%

0

0.0%
Period ended
March 2018

© 2022 DAI-DAN Co.,Ltd.

Period ended
March 202220

Percentage of consolidated orders received by division(Full year)
Percentage of orders received
Period ended March
2018

Period ended March
2019

Period ended March
2020

Period ended March
2021

Period ended March
2022

East Japan Division

41.6%

38.6%

39.1%

40.0%

41.2%

Central Japan Division

16.7%

18.1%

18.3%

17.5%

16.8%

West Japan Division

38.5%

36.9%

36.6%

37.0%

35.8%

International Division

3.2%

6.4%

6.0%

5.5%

6.2%

Percentage of orders received by division
100%

80%

41.6%

38.6%

39.1%

40.0%

41.2%

60%

East Japan Division

16.7%

18.1%

18.3%

17.5%

16.8%

Central Japan Division
West Japan Division

40%

20%

0%

© 2022 DAI-DAN Co.,Ltd.

International Division

36.9%

36.6%

37.0%

35.8%

3.2%

6.4%

6.0%

5.5%

6.2%

Period ended
March 2018

Period ended
March 2019

Period ended
March 2020

Period ended
March 2021

Period ended
March 2022

38.5%

21

Consolidated net sales of completed construction contracts
by construction type (Full year)(Millions of yen)
Period ended
March 2018

Period ended
March 2020

Period ended
March 2021

Period ended
March 2022

25,996

24,393

26,84024,86525,676Air conditioning
installations

85,926

92,939102,432

96,526

98,270Plumbing
installations

31,52538,232

39,95636,32038,982

117,451

131,171

142,388

132,846

137,253

143,448

155,565

169,229

157,712

162,929

Electrical installationsAir
conditioning
and plumbing
installations

Period ended
March 2019

Subtotal
Total

Consolidated net sales of completed construction contracts(by construction type)(Millions of yen)

200,000

160,000

26,84024,86524,39325,67625,996142,388

120,000

131,171
117,451
80,000(92,939)(102,432)

Electrical installations

132,846(96,526)

Air conditioning
and plumbing installations

137,253(98,270)(

Air conditioning installations)(

Plumbing installations)(85,926)

40,000(31,525)(38,232)(39,956)(36,320)

Period ended
March 2019

Period ended
March 2020

Period ended
March 2021

(38,982)0Period ended
March 2018
© 2022 DAI-DAN Co.,Ltd.

Period ended
March 2022

22Percentage of consolidated net sales of completed
construction contracts by division (Full year)
Percentage of net sales of completed construction contracts
Period ended March
2018

Period ended March
2019

Period ended March
2020

Period ended March
2021

Period ended March
2022

East Japan Division

40.1%

37.1%

45.3%

41.3%

37.5%

Central Japan Division

17.3%

18.0%

15.8%

16.9%

17.2%

West Japan Division

39.0%

40.2%

34.9%

37.7%

38.8%

International Division

3.6%

4.7%

4.0%

4.1%

6.4%

Percentage of net sales of completed construction contracts by division
100.0%

80.0%

40.1%

37.1%

45.3%

41.3%

37.5%

60.0%
17.3%

18.0%
15.8%

16.9%

17.2%

East Japan Division
Central Japan Division
West Japan Division

40.0%

International Division

20.0%

0.0%

© 2022 DAI-DAN Co.,Ltd.

39.0%

40.2%

3.6%
Period ended
March 2018

38.8%

34.9%

37.7%

4.7%

4.0%

4.1%

6.4%

Period ended
March 2019

Period ended
March 2020

Period ended
March 2021

Period ended
March 202223

Consolidated operating/ordinary/net profits (Full year)(Millions of yen)
Period ended
March 2018

Period ended
March 2019

Period ended
March 2020

Period ended
March 2021

Period ended
March 2022

Period ending
March 2023
(Forecast)

Operating profit

7,385

7,661

9,063

8,754

7,584

8,500

Ordinary profit

7,674

8,057

9,282

9,262

8,095

8,700

Net profit

5,109

5,464

6,399

6,318

5,778

6,000

Operating profit

Ordinary profit(Millions of yen)

(Millions of yen)

10,00010,000

8,000

8,000

6,000

6,000

4,000

4,000

2,000

2,000
0

0
Period
ended
March
2018

Period
ended
March
2019

Period
ended
March
2020

Period
ended
March
2021

Period
ended
March
2022

PeriodendingMarch
2023(Forecast)

Period
ended
March
2018

Period
ended
March
2019

Period
ended
March
2022

PeriodendingMarch
2023(Forecast)

Period
ended
March
2020

Period
ended
March
2021

Period
ended
March
2022

PeriodendingMarch
2023(Forecast)

Net profit(Millions of yen)

8,000
6,000
4,000
2,000
0
Period
ended
March
2018
© 2022 DAI-DAN Co.,Ltd.

Period
ended
March
2019

Period
ended
March
2020

Period
ended
March
2021

24

Disclaimer
The forecast concerning future business results, including future plans and strategies, disclosed by the Company is basedon assumptions deemed reasonable at the time of announcement. Therefore, actual business results may differ from theforecast due to various factors.

IR-related inquiries:
Corporate Communications Dept., Corporate Planning Office Tel: +81-3-5276-4568
2-15-10 Fujimi, Chiyoda-ku, Tokyo 102-8175© 2022 DAI-DAN Co.,Ltd.

25