Note: This document has been translated from a part of the Japanese original for reference purposes only.
In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Statements for the First Quarter of the Period Ending March 2024
[Japanese Standard]August 4, 2023

Name of listed company: DAI-DAN Co., Ltd.

Code No.: 1980 URL: https://www.daidan.co.jp/
Representative of Company: Ichiro Fujisawa, Representative Director, President
Inquiries to be addressed to: Yasuo Kamei, Director, Executive Corporate Officer,
Head of General Administration
Date scheduled to submit Quarterly report:
August 4, 2023
Creating supplements to the financial statement:
Yes
Holding a briefing session on the financial statement:
None

Stock Exchange Listing:Tokyo Stock Exchange Prime Market
Tel. (06) 6447 - 8003

(Amounts are indicated with figures less than 1 million yen discarded)

1. Consolidated business results for the first quarter of the period ending March 2024 (From April 1, 2023 to June 30, 2023)(Percentage indications show increase or decrease from the previous period.)(1) Consolidated management performance (Cumulative total)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Million yen%

Million yen%

Million yen%

Million yen%

40,731
15.2
691(15.5)
1,141(12.8)
period ending March 2024
First quarter of the35,342
29.7
818
54.8
1,308
72.0
period ending March 2023
(Note)
Comprehensive income First quarter of the period ending March 2024 1,840 Million yen 143.6%
First quarter of the period ending March 2023 755 Million yen 968.6%

755(12.5)

862

71.9

First quarter of theProfit per share

Diluted Profit per share

Yen SenYen Sen

35.27

―

40.31

―

First quarter of theperiod ending March 2024

First quarter of theperiod ending March 2023

(2) Consolidated financial position
Total assets

Net assets

Million yen

Equity capital ratio

Million yen%

First quarter of the136,803
83,093
period ending March 2024
Period ending March 2023
148,544
82,424(Reference) Equity capital First quarter of the period ending March 2024 82,879 Million yen
Period ending March 2023 82,242 Million yen

60.6
55.4

2. Dividends
End of first quarter
Yen Sen――Annual dividends per share
End of second quarter End of third quarter
Yen Sen45.00

Yen Sen―

Period end
Yen Sen
55.00

Through year

Yen Sen
Period ending March 2023
100.00Period ending March 2024
Period ending March 2024
55.00
―
30.00
―
(Forecast)(Note) 1 Presence of revision from dividend forecast published most recently: Yes
At a meeting of the Board of Directors held today, the Company resolved to conduct a 2-for-1 stock split of shares of common stock, with
an effective date of October 1, 2023.
Without considering the stock split, the Company plans to pay a year-end dividend of 60 yen per share for the fiscal year ending March 31,
2024, an increase of 5 yen from the 55 yen per share announced on May 11, 2023.
As a result, the annual dividend will be 115 yen per share.
The year-end dividend for the period ending March 31, 2024 (forecast) shown in the table above reflects the effect of this stock split, andthe total annual dividend is shown as "―".
2 Breakdown of dividend for the period ending March 2023: Ordinary dividend:90yen
Commemorative dividend:10yen (120th anniversary commemorative dividend)3. Estimate of consolidated performance for the period ending March 2024 (From April 1, 2023 to March 31, 2024)(Percentage indications show increase or decrease from the previous period.)

Net sales
Mil. yen

Operating profit%

Total period

Mil. yen

Profit attributable toowners of parent

Ordinary profit%

Mil. yen

200,000
7.5
8,500
0.8
8,900
(Reference) Estimated net sales of construction contract orders 210,000 Million yen(Note)
Presence of revision from estimate of performance published most recently: None%

Mil. yen

%

(4.2)

6,500

(1.9)

Profit per share
Yen

Sen
303.60* Annotations(1) Changes in key subsidiaries in the period (changes in specific subsidiaries requiring changes of consolidation scope): None
(2) Application of particular accounting to the preparation of quarter consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates, restatement
 Changes in accounting policies due to revision of accounting standards, etc.: None
 Changes in accounting policies other than : None
 Changes in accounting estimates: None Restatement: None
(4) Number of issued shares (common stock) Number of issued shares at the end of
period (including treasury shares)
 Number of treasury shares at the end of
period Average number of shares in the period(quarter total)

First quarter of
Period ending
the period ending 22,981,901 shares
March 2023
March 2024
First quarter of
Period ending
the period ending 1,566,626 shares
March 2023
March 2024
First quarter ofFirst quarter ofthe period ending 21,410,769 shares the period ending
March 2024
March 2023

22,981,901 shares
1,572,067 shares
21,393,963 shares(Note) The number of treasury shares at the end of the period includes the Company's shares held in the BIP Trust for Directors (90,207 sharesfor the period ending March 2023, 84,626 shares for the first quarter of the period ending March 2024). In addition, the Company's
shares held in the BIP Trust for Directors (106,390 shares for the first quarter of the period ending March 2023, 89,233 shares for thequarter of the first period ending March 2024) are also included in treasury shares, which is deducted in the calculation of the average
number of shares outstanding during the period.

* Brief report on quarterly financial statements is beyond the object of audit by CPA or an audit corporation.
* Explanation about adequate use of achievement forecasts and other noteworthy matters(Caution regarding forward-looking statements and others)
The forward-looking statements disclosed herein are based on the information available at the time of preparation of thisdocument and the assumption considered as reasonable.
Consequently, actual results differ materially from forecasts above due to changes in business results.
(How to obtain supplementary explanatory materials for quarterly financial results)
Supplementary explanatory materials for quarterly financial results will be available on the Company’s website.

(Reference) Estimate of individual performance
Estimate of individual performance for the period ending March 2024 (From April 1, 2023 to March 31, 2024)(Percentage indications show increase or decrease from the previous period.)

Net sales
Mil. yen

Total period(Reference)(Note)

Operating profit%

Mil. yen

Ordinary profit%

Mil. Yen

190,000
5.8
8,500
(0.5)
8,900
Estimated net sales of construction contract orders 200,000 Million yen
Presence of revision from estimate of performance published most recently: None

ProfitProfit per share%

Mil. yen%

Yen Sen

(5.6)

6,500

(4.1)

303.60DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

 Contents of Information
1. Consolidated Financial Statements and Major Notes ..............................................................................................2(1) Consolidated Balance Sheets .............................................................................................................................2(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ........................4(Consolidated Statements of Income)(First Quarter Consolidated Cumulative Period) .............................................................................................4(Consolidated Statements of Comprehensive Income)(First Quarter Consolidated Cumulative Period) .............................................................................................5(3) Annotation Items Concerning Quarterly Consolidated Financial Statements ....................................................6(Notes to Going Concern Assumption) ............................................................................................................6(Notes in Case of Significant Changes in the Amount of Shareholders’ Equity) ............................................6(Significant Subsequent Event) .......................................................................................................................6
2. Supplementary Information .....................................................................................................................................7
Divisional net sales of construction contract orders received, completed construction contracts, anduncompleted construction contracts (consolidated) ................................................................................................81

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

1. Consolidated Financial Statements and Major Notes(1) Consolidated Balance Sheets(Millions of yen)Previous Consolidated
Accounting Year(As of March 31, 2023)
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts and other
Electronically recorded monetary claims - operating
Costs on construction contracts in progress
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

2

Current First Quarter
Consolidated Accounting
Period(As of June 30, 2023)

25,37919,79569,62557,338

9,487
671
3,092
(136)
108,120

13,161
1,055
3,247
(153)
94,444

7,516
1,178

7,778
1,162

18,79011,4591,611(133)
31,72840,424
148,544

20,402
11,492
1,656(133)
33,41742,358136,803

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

(Millions of yen)Previous Consolidated
Accounting Year(As of March 31, 2023)
Liabilities
Current liabilities
Notes payable, accounts payable for construction
contracts
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Advances received on construction contracts inprogress
Provision for bonuses
Provision for directors' bonuses
Provision for share awards
Provision for warranties for completed construction
Provision for loss on construction contracts
Deposits received
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Deferred tax liabilities
Retirement benefit liability
Long-term accounts payable - other
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
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

3

Current first Quarter
Consolidated Accounting
Period(As of June 30, 2023)

23,294

16,182

12,109
2,901
2,258

9,821
2,881
64

1,899

1,852

－
－
26
48
516
9,307
9,169
61,532

1,347
19
22
60
994
12,0683,153
48,470

720
2,660
1,148
5
51
4,587
66,119

562
3,496
1,131
5
43
5,239
53,7104,479
4,837
68,638(3,132)74,822

4,479
4,837
68,210(3,121)
74,406

6,116
112
1,191
7,419
182
82,424
148,544

7,226
93
1,154
8,473
213
83,093
136,803

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)(First Quarter Consolidated Cumulative Period)(Millions of yen)

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
Interest income
Dividend income
Insurance fee income
Foreign exchange gains
Share of profit of entities accounted for using equity
methodRental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Guarantee commission
Rental expenses on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
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

4

Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2022
to June 30, 2022)
35,342
31,062
4,280
3,461
818

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2023
to June 30, 2023)
40,731
36,272
4,459
3,767
691

1
151
122
226

2
142
133
163

－

41

7
14
523

8
6
499

16
2
9
4
32
1,308

30
1
9
7
49
1,141

1
1

－
－

12
12
1,298
(19)
465
446
851
(10)
862

1
1
1,139
(3)
362
359
780
25
755

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

(Consolidated Statements of Comprehensive Income)(First Quarter Consolidated Cumulative Period)(Millions of yen)

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

5

Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2022
to June 30, 2022)
851

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2023
to June 30, 2023)
780

(73)
43
(66)
(96)
755

1,110
(14)
(37)
1,059
1,840

754

1,809

0

30

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

(3) Annotation Items Concerning Quarterly Consolidated Financial Statements(Notes to Going Concern Assumption)
None(Notes in Case of Significant Changes in the Amount of Shareholders’ Equity)
None(Significant Subsequent Event)(Stock split and partial amendments to the Articles of Incorporation in relation to stock split)
At the meeting of the Board of Directors held on August 4, 2023, the Company resolved to implement a stock split and topartially revise the Articles of Incorporation in relation to the stock split.
(1) Objective of the stock split
The purpose of the stock split is to lower the unit investment amount, creating a more investment-friendly environmentand broadening the shareholder base.
(2) Outline of the stock split① Method of stock split
With September 30, 2023 (Saturday) (since this date will be treated as a holiday, shareholders of record will effectively
be determined on September 29, 2023 (Friday)) as the record date, The Company will implement a 2-for-1 stock split ofcommon shares owned by shareholders listed or recorded in the closing register of shareholders with a record date.
② Number of shares to be increased by stock split
Total number of issued shares before the stock split

22,981,901 shares

Increase in number of shares due to the stock split

22,981,901 shares

Total number of issued shares after the stock split

45,963,802 shares

Total number of shares authorized to be issued after the stock split

80,000,000 shares③ Schedule of the stock split
Date of public notice of the record date September 14, 2023 (Scheduled date)
Record date

September

30, 2023

Effective date

October

1, 2023④ Impact on per share information
Pro forma per share information assuming the stock split was conducted at the beginning of the previous fiscal year is
as follows.

Net income per share

Previous First Quarter Consolidated

Current First Quarter Consolidated

Cumulative Period

Cumulative Period(from April 1, 2022 to June 30, 2022)(from April 1, 2023 to June 30, 2023)¥20.16¥17.63(Note) Diluted Profit per share is not shown in the above table, as there are no residual shares.

6

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

(3) Partial amendments to the Articles of Incorporation in relation to the stock split① Reason for amendments to the Articles of Incorporation
In conjunction with the stock split, the Company’s Articles of Incorporation will be partially amended on October 1,
2023, as the effective date, by resolution of the Board of Directors in accordance with the provisions in Article 184,
paragraph (2) of the Companies Act.
② Details of amendments to the Articles of Incorporation
The details of the amendments are as follows. (Underlined portions indicate the proposed changes.)
Current Articles of Incorporation

Amended Articles of Incorporation

Article 5(Total Number of Authorized Shares)

Article 5 (Total Number of Authorized Shares)

The total number of shares authorized to be

The total number of shares authorized to beissued by the Company shall be

issued by the Company shall be

40,000,000 shares.

80,000,000 shares.

③ Schedule of the revision of the Articles of Incorporation
Date of the meeting of Board of Directors

August4, 2023

Effective date

October 1, 2023

(4) Other
There will be no change in the amount of capital upon this stock split.

7

DAI-DAN Co., Ltd. (1980), Consolidated Financial Statements for the First Quarter of the Period Ending March 2024

2. Supplementary Information
Divisional net sales of construction contract orders received, completed construction contracts, and uncompleted
construction contracts (consolidated)(Millions of yen)Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2022
to June 30, 2022)
AmountNet sales of uncompleted
construction contracts

Net sales of completed
construction contracts

Net sales of construction
contract orders received

Electrical installations

Component
ratio %

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2023
to June 30,2023)
AmountIncrease(decrease)

Component
ratio %

AmountRatio %

7,906

11.9

10,959

16.4

3,052

38.6

58,80588.1

56,04683.6(2,759)

(4.7)

Total

66,712100.0

67,005

100.0

292

0.4

(Renovations)30,251

45.3

21,66832.3(8,582)(28.4)(Industrial facilities)

29,45244.1

32,843

49.0

3,391

11.5

(Overseas operations)

10,029

15.0

4,331

6.5

(5,698)(56.8)

Electrical installations

6,102

17.3

6,160

15.1

58

1.0

29,23982.7

34,571

84.9

5,331

18.2

Total

35,342100.0

40,731

100.0

5,389

15.2

(Renovations)

16,47946.6

14,30735.1(2,171)(13.2)(Industrial facilities)

14,293

40.4

19,498

47.9

5,204

36.4

(Overseas operations)

2,738

7.7

3,585

8.8

847

30.9

Electrical installations

25,26613.0

24,122

11.5(1,143)(4.5)

169,88587.0

186,308

88.5

16,423

9.7

Total

195,152

100.0

210,431100.0

15,279

7.8(Renovations)50,66826.0

43,66320.7(7,005)(13.8)(Industrial facilities)

60,41731.0

73,91335.1

13,495

22.3(Overseas operations)20,13010.3

16,7428.0(3,388)(16.8)

Air conditioning
and plumbing
installations

Air conditioning
and plumbing
installations

Air conditioning
and plumbing
installations(Note) 1. The “Air conditioning and plumbing installations” category has been set as a total of air conditioning installations and plumbing
installations.
2. Renovations and Industrial facilities, Overseas operations are aggregated for each type of construction These includes duplicatedconstruction.

8