Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010
November. 12, 2009
Name of listed company: DAI-DAN Co., Ltd.
Code No.:1980
URL http://www.daidan.co.jp/

Representative of Company:
Inquiries to be addressed to:Date scheduled date to file a quarterly report:
Date scheduled for dividend payment commencement:

Listed Shares Exchanges:
Tokyo Stock Exchange 1st section
Osaka Stock Exchange 1st section
Setsu SUGAYA, Representative Director, Chairman and President
Goh TAJIMA, Director, Executive Corporate Officer,Head of General Administration Division
November13,2009
December 1, 2009

Tel. 06 - 6447 - 8003

(Amounts are indicated with figures less than 1 million yen discarded)
1. Consolidated business results for the second quarter of the period ending March 2010 (From April 1, 2009 to September 30, 2009)(1) Consolidated management performance(Cumulative total)(Percentage figures represent the changes from the same quarter period of the previous accounting year.)

Sales amountOperating profit

Ordinary profit

Quarterly net income

Million yen％

Million yen％

Million yen％

Million yen％

53,08063,891

−16.9

696
795

−12.5
―

701
757

−7.4

269
202

33.1

Second quarter of the period ending March 2010
Second quarter of the period ending March 2009―

Quarterly net income per share――

Quarterly diluted net income per share
Yen SenYen Sen

Second quarter of the period ending March 2010
Second quarter of the period ending March 2009

―
―

6.03
4.51

(2) Consolidated financial condition
Total assets

Net assets

Million yen

Second quarter of the period ending March 2010

90,997
100,575
Second quarter of the period ending March 2010

Period ended March 2009
(Reference) Equity capital

Equity capital ratio

Net asset per share％

Million yen

Yen Sen

41,511
45.6
41,21441.0
41,507 Million yen
Period ending March 2009 41,211 Million yen

928.45921.702. Dividend status
Per-share dividend
End of second quarterEnd of third quarterEnd of first quarter

Yen SenYen Sen

Period ending March 2009
Period ending March 2010――

Period end

Yen Sen

5.00
8.00

Period ending March 2010
(Forecast)

Total
Yen SenYen Sen

―

11.00

16.00

―

8.00

16.00

(Note) Revision of the estimated dividend in the current quarter: No

3. Estimate of consolidated performance for the period ending March 2010 (From April 1, 2009 to March 31, 2010)(Percentage figures represent the changes from the previous quarter period.)

Sales amount

Total period

Operating profit

Ordinary profit

Current net earnings
per share

Current net profit

Million yen%

Million yen%

Million yen%

Million yen%

Yen Sen

125,000

−9.2

2,500

−18.4

2,400

−13.6

1,000

121.3

22.37

(Note) Revision of the forecast consolidated business results in the current quarter: Yes
Estimated amount of work order received (full year)

121,000 Million yen−1−4. Others(1) Changes in key subsidiaries in the period (changes in specific subsidiaries requiring changes of consolidation scope)None
New subsidiaries: __ companies (Company name:) Excluded subsidiaries: __ companies (Company name:(2) Application of the simplified accounting procedures as well as accounting procedures specific to preparation of quarterly consolidated financial
statements: Yes(Note) For detail, please refer to information in the section of “4. Others” of “Qualitative Information, Financial Statements, etc.” on page 5.
(3) Changes in accounting principles, procedures, and disclosures for preparation of quarterly consolidated financial statements (changes described in thesection of “Changes in significant matters forming the basis of preparation of the quarterly consolidated financial statements)
1. Changes due to revisions of accounting standards: None
2. Changes due to other reasons: None
(4) Number of issued shares (common stock)
1. Number of issued shares at the end of period (including treasury stock)
Second quarter of the period ending March 2010
45,963,803 shares
2. Number of treasury stock at the end of period
Second quarter of the period ending March 2010
1,257,489 shares
3. Average number of shares (Second Quarter period, 6 months)
Second quarter of the period ending March 2010
44,709,527 shares

Period ending March 2009

45,963,803 shares

Period ending March 2009

1,251,190 shares

Second quarter of theperiod ending March 2009

44,884,648 shares)* Explanation about adequate use of achievement forecasts and other noteworthy matters(Note onFuture-Related Descriptions Etc.)
Future-related descriptions about business result prospect given in this data are based on information currently available to the company and certain premises
determined rational. Actual business results etc. may differ greatly because of various factors. For N.B. etc. on premises to business result forecast and the useof business result forecast, please see “Qualitative Information, Financial Statements, Etc.” 3. Qualitative Information on Consolidated Business Result
Forecast on page 5.

−2−

(Ref.) Individual Business Result Forecast
Estimate of individual performance for the period ending March 2010 (From April 1, 2009 to March 31, 2010)(Percentage figures represent the changes from the previous quarter period.)

Sales amount

Total period

Operating profit

Ordinary profit

Current net earnings
per share

Current net profit

Million yen%

Million yen%

Million yen%

Million yen%

Yen Sen124,000

−9.1

2,500

−16.3

2,400

−15.4

1,000

73.4

22.37

(Note) Revision of the forecast individual business results in the current quarter: Yes
Estimated amount of work order received (full year)

120,000 Million yen−3−

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010

Qualitative Information, Financial Statements, Etc.
1. Qualitative Information on Consolidated Operating Results
Japan’s economy during the current second quarter consolidated cumulative period (April 1 to September 30, 2009) witnessed
an employment situation still remaining grave including unemployment rates staying at high levels despite mild recovery
signs seen from inventory adjustment progress, and the increase in exports, manufacturing, etc. Corporate earnings also stayed
at low levels though with signs of gradual pickup. In the construction industry, a grave situation continued with no recovery
seen in private sector equipment investment and with public investment still continuing staying at low levels.
Under these circumstances, we made efforts to secure orders and profits with the mid-term management plan “Return to theStarting Point to Realize Vibrant Daidan” as the basic policy. As a result, the following were the business results during thecurrent second quarter consolidated cumulative period:
Because of a severe order acceptance environment, accepted work order amount was 59,002 million yen with a decrease of
12,171 million yen from the same quarter consolidated cumulative period of the preceding year.
Because of the effect of the decrease in accepted work order amount, completed work amount was 53,080 million yen with adecrease of 10,810 million yen from the same quarter consolidated cumulative period of the preceding year.
Despite the decrease in completed work amount, completed work gross profit was 5,810 million yen with an increase of 7
million yen and an improvement of 1.9 points in completed work gross profit rate from the same quarter consolidated
cumulative period of the preceding year.
As for operating profit and loss, because of the expense increase due to information system renewal, selling expenses andgeneral administration expenses increased 107 million yen from the same quarter consolidated cumulative period of thepreceding year while operating profit was 696 million yen with a decrease of 99 million yen from the same quarter
consolidated cumulative period of the preceding year.
As for non-operating profit and loss, non-operating revenue decreased 23 million yen from the same consolidated cumulative
period of the preceding year because of the decrease in interest received and dividends received while non-operating expensedecreased 66 million yen from the same consolidated cumulative period of the preceding year because of the decrease ininterest paid and exchange loss and ordinary profit was 701 million yen with a decrease of 56 million yen from the same
consolidated cumulative period of the preceding year.
As for the quarter net profit and loss, as a result of recording of doubtful accounts allowance reversal 55 million yen as a
special profit, elimination of the effect of investment securities appraisal loss that was present in the same consolidated
cumulative period of the preceding year, and deduction of corporation tax, resident tax and business tax, corporation tax
adjustment etc. and minority shareholder profit, the quarter net profit was 269 million yen with an increase of 66 million yen
from the same consolidated cumulative period of the preceding year.
2. Qualitative Information on Consolidated Financial Status
Total assets at the end of the current second quarter consolidated accounting period were 90,997 million yen with a decreaseof 9,578 million yen from the end of the preceding consolidated accounting year.
Liquid assets were 71,506 million yen with a decrease of 10,568 million yen from the end of the preceding consolidated
accounting year. Main factors were the decrease (2,787 million yen) in cash and deposit and the decrease (7,903 million yen)in bills receivable, completed work accounts receivable, etc. exceeding the increase (674 million yen) in uncompleted work
expenditure etc.
Fixed assets were 19,491 million yen with an increase of 990 million yen from the end of the preceding consolidated
accounting year. Main factors were the increase (383 million yen) in intangible fixed assets, the increase (885 million yen) ininvestment securities, and the increase (269 million yen) in prepaid pension expense, etc. exceeding the decrease (442 million
yen) in deferred tax assets etc.
Total liabilities at the end of the current second quarter consolidated accounting period were 49,486 million yen with adecrease of 9,874 million yen from the end of the preceding consolidated accounting year.
Liquid liabilities were 45,992 million yen with a decrease of 9,707 million yen from the end of the preceding consolidated
accounting year. Main factors were the decrease (7,249 million yen) in bills payable and work accounts payable, the decrease(1,408 million yen) in short-term borrowing, and the decrease (822 million yen) in corporation tax payable, etc. exceeding theincrease (584 million yen) in uncompleted work accounts received etc.
Fixed liabilities were 3,493 million yen with a decrease of 166 million yen from the end of the preceding consolidated
accounting year. Main factors were the decrease (204 million yen) in long-term borrowing etc.
Net assets at the end of the current second quarter consolidated accounting period were 41,511 million yen with an increase of
296 million yen from the end of the preceding consolidated accounting year. Main factors were the increase (269 million yen)in earned surplus due to the recording of the quarter net profit and the increase (521 million yen) in other securities appraisal
differences etc. exceeding surplus distribution (491 million yen) etc.
As a result, net worth ratio was 45.6% with an increase of 4.6 points from the end of the preceding consolidated accounting
year.

−4−

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010

(State of Cash Flows)
Cash equivalents (“funds”) at the end of the current second quarter consolidated accounting period were 25,866 million yen
with a decrease of 2,787 million yen from the end of the preceding consolidated accounting year because of the decrease in
cash flows from operating activities, investment activities and financial activities.
The state of respective cash flows and their factors in the current second quarter consolidated cumulative period are as
follows:(Cash Flow from Operating Activities)
Fund decrease due to operating activities was 75 million yen (versus fund increase of 6,721 million yen in the same quarter
consolidated cumulative period of the preceding year). Main factors were fund decreasing factors like the decrease inpurchase liabilities and the increase in uncompleted work expenditure exceeding fund increasing factors like the decrease insales accounts receivable and the increase in uncompleted work amounts received.
(Cash Flow from Investment Activities)
Fund expenditure due to investment activities was 584 million yen (versus fund expenditure of 2,396 million yen in thesame quarter consolidated cumulative period of the preceding year). Main factors were software acquisition accompanying
the information system renewal included in tangible asset acquisition expenditure and other expenditure.
(Cash Flow from Financial Activities)
Fund decrease due to financial activities was 2,108 million yen (versus fund decrease of 341 million yen in the same quarter
consolidated cumulative period of the preceding year). Main factors were expenditure for repayment of short- and long-termborrowings exceeding revenues from short- and long-term borrowings, and dividend payment.
3. Qualitative Information on Consolidated Business Result Forecast
The following are forecast for the business results through the whole period considering the situation in the second quarter
cumulative period given in “1. Qualitative Information on Consolidated Operating Results.”<Consolidated Business Result Forecast>Accepted work order amount was revised to 121,000 million yen from the period-beginning forecast of 137,000 million yen.
Main reasons are private sector equipment investment and public investment anticipated to remain at low levels in the third
quarter consolidated accounting period and onward and a review of order acceptance plans accordingly.
Sales volume was revised to 125,000 million yen from the period-beginning forecast of 137,000 million yen. Main reasonsare a review of period-end progress prediction on accepted work orders in the third quarter consolidated accounting period
and onward in view of the review of period-end progress prediction made on works on hand and the decrease in accepted
work order amount at the end of the second quarter consolidated cumulative period.
As for profits, operating profit, ordinary profit and current period net profit are expected to attain the period-beginning
forecast because of efforts for cost reduction and improvement in net profit to sales ratio despite a decrease anticipated insales volume.
<Individual Business Result Forecast>Accepted work order amount was revised to 120,000 million yen from the period-beginning forecast of 136,000 million yen.
Sales volume was revised to 124,000 million yen from the period-beginning forecast of 136,000 million yen.
As for profits, operating profit, ordinary profit and current period net profit are all expected to attain the period-beginning
forecast.
Main reasons are the same as descriptions about the consolidated business result forecast.
4. Others(1) Changes in significant subsidiaries during the current period (Changes in specified subsidiaries that caused a change inthe scope of consolidation)
None(2) Application of the simplified accounting procedures as well as accounting procedures specific to preparation of quarterly
consolidated financial statements
1. Simplified accounting procedures
Method for computing income taxes, deferred tax assets, and deferred tax liabilities
As for the collectability of deferred tax assets, since we recognize that there is no significant change in businessenvironment and temporary difference generation status, we adopt the forecasts of future business results and the tax
planning used for the account settlement of the previous consolidated accounting year.
2. Accounting procedures specific to preparation of quarterly consolidated financial statements
None(3) Changes in accounting principles, procedures, and disclosures for preparation of quarterly consolidated financial
statements
None

−5−

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010

5. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(in million yen)
Second quarter of the current
consolidated accounting year
(As of September 30, 2009)

Condensed consolidatedbalance sheet of the previous
consolidated accounting year
(As of March 31, 2009)

AssetsCurrent assets
Cash on hand and in banks

25,893

28,680Note receivables, completed work accounts
receivables

41,56149,464

100

100

1,283

608

0

1

Deferred tax reserves

1,854

2,196

Others

1,251

1,465

Allowance for bad debts

−438

−441

Total current assets

71,50682,074

Tangible fixed assets

3,592

3,533

Intangible fixed assets

740

357

Investment securities

7,628

6,743

Deferred tax assets

976

1,419

Prepaid pension costs

4,507

4,237

Others

3,184

3,391

Allowance for bad debts−1,139−1,180Total investments and other assets

15,157

14,61019,491

18,50090,997

100,575

Securities
Incomplete work expenditures
Inventories of raw materials and supplies

Fixed assets

Investments and other assets

Total fixed assets
Total assets−6−

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010

(in million yen)
Second quarter of the current
consolidated accounting year
(As of September 30, 2009)

Condensed consolidatedbalance sheet of the previous
consolidated accounting year
(As of March 31, 2009)

Notes payable, work accounts payable

30,22937,478

Short-term loans payable

6,817

8,225

92

914

Incomplete work accounts received

3,252

2,667

Reserves for bonus payment

1,096

−

Reserves for directors’ premiums

40−

Completed work compensation reserves

50

59Work loss reserves

684

1,009

9

14

Others

3,718

5,330

Total current liabilities

45,99255,700Long-term loans payable

1,188

1,393

Reserves for retirement benefits

1,725

1,718

579

548

0

0

Total fixed liabilities

3,493

3,660

Total liabilities

49,48659,360Capital stock

4,479

4,479

Capital surplus

4,810

4,810

Earned surplus

32,29632,518Treasury stock

−617

−614

Total shareholders’ equity

40,96841,194

Evaluation difference of other securities

524

3

Currency translation adjustment accountTotal evaluation / currency translationdifference, etc.

13

13

538

17

3

3

41,511

41,21490,997

100,575

Liabilities
Current liabilities

Corporate taxes, etc. payable

Reserves for overseas investment loss

Fixed liabilities

Reserves for directors’ retirement benefits
OthersNet Assets
Shareholders’ equity

Evaluation / Currency translation difference, etc.

Minority interest equity
Total net assets
Total liabilities and net assets−7−

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010(2) Quarterly Consolidated Statement of Income(Second Quarter of the current consolidated accounting year)(in million yen)
Second Quarter of theprevious consolidated
accounting year
(From April 1, 2008 to
September 30,2008)

Second Quarter of the current
consolidated accounting year
(From April 1, 2009 to
September 30,2009)

Completed work amount

63,89153,080Completed work cost

58,08747,269Completed work gross profit

5,803

5,810

Selling expenses and general administrative expenses

5,007

5,114

795

696

Interests received

31

13

Dividends received

95

83

Insurance claim received

25

15

Others

7

25

160

137

Interest payable

102

80

Payment guarantee charge

1011Loss on foreign exchange

81

40

Others

3

0

198

132

757

701

Operating profit
Non-operating revenue

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary profit
Special profits
Profit on sales of fixed assets

50Compensation for transfer of property

17−

Profit on sales of investments in securities

5−

Profit gained by returning allowance for bad debts

855

Total extraordinary income

36

55

Loss on sales of fixed assets

1−

Loss on retirement of fixed assets

1

7Loss on sales of investments in securities

6−

Evaluation loss on investments in securities

74−

Total extraordinary loss

82

7

Quarterly net income before income taxes

710

749

Corporate tax, residence tax and business tax

444

50

Adjustment amounts such as for corporate taxes

63

429

Total Income taxes, etc.

508

479

Profit of minority interests

0

0

202

269

Special losses

Quarterly net income−8−DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010(3) Quarterly Consolidated Statement of Cash Flows(in million yen)
Second Quarter of the previous
consolidated accounting year
(From April 1, 2008 to
September 30,2008)
Cash flow on sales activities
Quarterly net income before income taxes
Depression expenses
Increased or decreased amount of allowance for bad
debts (“−” represents a decrease.)
Increased or decreased in reserves for retirement
benefits and directors’ retirement benefits(“−” represents decrease.)
Earned interest and dividends received
Interest paid
Profit or loss on appraisal of investments in securities(“−” represents profit.)
Profit or loss on sales of investments in securities(“−” represents profit.)
Profit or loss on sales of fixed assets(“−” represents profit.)
Loss on retirement of fixed assets
Increased or decreased amount of sales credits(“−” represents increase.)
Increased or decreased amount of incomplete work
expenditures (“−” represents increase.)
Increased or decreased in other current assets(“−” represents increase.)
Increased or decreased amount of procurement credits(“−” represents decrease.)
Increased or decreased amount of incomplete work
received amount (“−” represents decrease.)
Increased or decreased in other current liabilities(“−” represents decrease.)
Sub-total
Received amount of interests and dividends
Paid interest amountPaid amount of corporate tax, etc.
Cash flow on sales activities
Cash flow on investment activities
Expenditures by acquiring of securities
Revenue by sales and redemption of securities
Expenditures by acquiring of tangible fixed assets
Revenue by sales of tangible fixed assets
Expenditures by acquiring of investment securities
Revenue by sales and redemption of investment securities

Expenditures by loans
Revenue from loans receivable
Other payments
Other revenues
Cash flow on investment activities
Cash flow on financial activities
Revenue by short-term loans
Expenditures by return of short-term loans
Revenue by long-term loans
Expenditures by return of long-term loans
Expenditures by acquiring of treasury stock
Revenue by sales of treasury stock
Paid amount of dividends
Cash flow on financial activities
Translation difference relating to cash and cash equivalents
Increased or decreased amount of cash and cash
equivalents (“−” represents decrease.)
Balance of cash and cash equivalents at the beginning of
periodBalance of cash and cash equivalents at the end of thequarterly period−9−Second Quarter of the current
consolidated accounting year
(From April 1, 2009 to
September 30,2009)

710
103

749
165

231

−44

−252
−126
102

38
−96
80

74

−

0

−

−4
1

−0
7

7,697

8,099

350

−674

−786

−73

−3,715−7,249

2,985

584

−71
7,301
127
−96
−610
6,721

−816
768
96
−73
−866
−75

−2,0521,052−161
6−1,321
13
−0
43
−69
91
−2,396

−50
50
−185
1
−4
2
−1
28
−458
31
−584

7,650
−7,4001,100−1,188
−12
3
−493
−341
−28

10,720−11,920700−1,113−3
0−491−2,108−19

3,954−2,78722,04028,65325,99525,866

DAI-DAN Co., Ltd. (1980), Brief Report on the Second Quarter Financial Statements for the Period Ending March 2010

(4) Notes on Going Concern Assumption
None(5) Notes in Case of Significant Changes in the Amount of Shareholders’ Equity
Major factor causing a decrease in retained earnings is that dividend amounting to 491 million yen was paid from retained
earnings in June 2009.

6. Other Information
Divisional amount of work orders received, completed works, and works carried over (consolidated)(in million yen)
Second Quarter of the previous
consolidated accounting year
(From April 1, 2008
to September 30,2008)

Amount of works carriedoverAmount of completed
works

Amount of work orders
received

AmountSecond Quarter of thecurrent consolidated
accounting year
(From April 1, 2009
to September 30,2009)

Previous consolidated
accounting year
(From April 1, 2008 to
March 31, 2009)

Component
ratio %

AmountComponent
ratio %

AmountComponent
ratio %

Electrical work

14,08419.8

10,45717.7

25,60319.5

Air-conditioning work

40,691

57.2

38,31264.9

76,55958.2

Plumbing/sanitation

16,39823.0

10,232

17.4

29,304

22.3

Total

71,173100.0

59,002100.0

131,467

100.0（Renewal work）

32,13445.2

24,87442.2

56,967

43.3（Overseas work）

2,170

3.1

2,151

3.7

2,902

2.2

Electrical work

16,354

25.6

9,695

18.3

34,07524.7

Air-conditioning work

35,66955.8

30,63957.7

77,195

56.1

Plumbing/sanitation

11,86718.6

12,74524.0

26,453

19.2

Total

63,891

100.0

53,080100.0

137,725

100.0（Renewal work）

29,00845.4

20,99439.6

64,446

46.8（Overseas work）

2,871

4.5

2,130

4.0

5,613

4.1

Electrical work

15,82516.2

10,384

11.6

9,622

11.5

Air-conditioning work

56,81058.4

58,82565.5

51,152

61.0

Plumbing/sanitation

24,71425.4

20,521

22.9

23,034

27.5

Total

97,350100.089,731

100.0

83,809100.0（Renewal work）

26,53327.3

19,80922.1

15,92819.0（Overseas work）

3,609

3.7

1,620

1.8

1,599

1.9

− 10 −