Brief Report on the First Quarter Financial Statements for the Period Ending March 2021
[Japanese Standard] (Consolidated)
August 7, 2020

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 7, 2020
Creating supplements to the financial statement:
None
Holding a briefing session on the financial statement:
None

Stock Exchange Listing:Tokyo Stock Exchange 1st section
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 2021 (From April 1, 2020 to June 30, 2020)(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
First quarter of the34,816
3.9
2,281
64.4
2,524
period ending March 2021
First quarter of the33,521
13.3
1,387
29.5
1,527
period ending March 2020
(Note)
Comprehensive income First quarter of the period ending March 2021 1,978 Million yen 632.6%
First quarter of the period ending March 2020 270 Million yen (71.6%)

Profit per share

Million yen

%

65.2

1,720

59.5

20.0

1,078

32.6

Diluted Profit per share

Yen SenYen Sen

79.41

―

48.74

―

First quarter of theperiod ending March 2021
First quarter of theperiod ending March 2020%

(2) Consolidated financial position
Total assets

Net assets

Million yen

Equity capital ratio

Million yen

First quarter of the112,859
68,316
period ending March 2021
Period ending March 2020
123,049
67,409(Reference) Equity capital First quarter of the period ending March 2021 68,126 Million yen
Period ending March 2020 67,200 Million yen

Net assets per share%

Yen Sen60.4

3,143.13

54.6

3,101.72

2. Dividends
End of first quarter
Yen Sen――Annual dividends per share
End of second quarter End of first quarter
Yen Sen40.00

Yen Sen―

Period ending March 2020
Period ending March 2021
Period ending March 2021
45.00―
(Forecast)(Note 1)
Presence of revision from dividend forecast published most recently: None
(Note 2)
Breakdown of dividend at the end of the period ending March 2020: ordinary dividend 50.00 yen

Period end

Through year

Yen Sen50.00

Yen Sen
90.00

45.00

90.00

3. Estimate of consolidated performance for the period ending March 2021 (From April 1, 2020 to March 31, 2021)(Percentage indications show increase or decrease from the previous period.)

Net sales
Mil. yen%

Operating profit

Ordinary profit

Mil. yenMil. yen%

Profit attributable toowners of parent%

Mil. yen%

156,000(7.8)
8,000(11.7)
8,200(11.7)
Total period(Reference)
Estimated net sales of construction contract orders (Total period) 161,000 Million yen(Note)
Presence of revision from estimate of performance published most recently: Yes

5,700(10.9)

Profit per share
Yen

Sen
263.09* Annotations(1) Changes in key subsidiaries in the current quarter consolidated cumulative period (changes in specific subsidiaries requiringchanges 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
March 2021
First quarter of
period ending
March 2021
First quarter of
period ending
March 2021

22,981,901 shares

Period ending
March 2020

22,981,901 shares

1,307,139 shares

Period ending
March 2020

1,316,396 sharesFirst quarter of
21,667,303 shares period ending
March 2020

22,128,387 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 (150,000
shares for the period ending March 2020, 140,743 shares for the first quarter of period ending March 2021). In addition, the Company's
shares held in the BIP Trust for Directors (148,202 shares for the first quarter of period ending March 2021) are also included intreasury 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
The above forecasts are based on the information available at the time of preparation of this document and the assumption
considered as reasonable.
Consequently, actual results differ materially from forecasts above due to changes in business results. For precautions for use of
the assumptions for the above forecasts and forecasts of business results, please refer to the Section “1. Qualitative Information
on Current Quarter Business Settlement, (3) Explanation on Future Estimate Information such as Estimate of Consolidated
Performance” on page 2.

(Reference) Estimate of individual performance
Estimate of individual performance for the period ending March 2021 (From April 1, 2020 to March 31, 2021)(Percentage indications show increase or decrease from the previous period.)

Net sales
Mil. yen(Reference)(Note)

Ordinary profit

Mil. yenMil. Yen%

ProfitProfit per share%

Mil. yen%

Yen Sen155,000(7.3)
8,000(10.8)
8,200(10.8)
Estimated net sales of construction contract orders (Total period) 160,000 Million yen
Presence of revision from estimate of performance published most recently: Yes

5,700(10.1)

263.09Total period%

Operating profit

DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

 Contents of Information
1. Qualitative Information on Current Quarter Business Settlement ...........................................................................2(1) Explanation on Operating Results......................................................................................................................2(2) Explanation on Financial Conditions .................................................................................................................2(3) Explanation on Future Estimate Information such as Estimate of Consolidated Performance ..........................2
2. Consolidated Financial Statements and Major Notes ..............................................................................................3(1) Consolidated Balance Sheets .............................................................................................................................3(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ........................5(Consolidated Statements of Income)(First Quarter Consolidated Cumulative Period) .............................................................................................5(Consolidated Statements of Comprehensive Income)(First Quarter Consolidated Cumulative Period) .............................................................................................6(3) Annotation Items Concerning Quarterly Consolidated Financial Statements ....................................................7(Notes to Going Concern Assumption) ............................................................................................................7(Notes in Case of Significant Changes in the Amount of Shareholders’ Equity) ............................................7
3. Supplementary Information .....................................................................................................................................7
Divisional net sales of construction contract orders received, completed construction contracts, anduncompleted construction contracts (consolidated) ................................................................................................71

DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

1. Qualitative Information on Current Quarter Business Settlement(1) Explanation on Operating Results
Net sales of construction contract orders received in the current first quarter consolidated cumulative period
decreased by 12,530 million yen or 25.7% from the same quarter consolidated cumulative period of theprevious year, resulting in 36,167 million yen.
Net sales of completed construction contracts increased by 1,294 million yen or 3.9% from the same quarter
consolidated cumulative period of the previous year, resulting in 34,816 million yen.
Gross profit on completed construction contracts increased by 967 million yen or 22.4% from the samequarter consolidated cumulative period of the previous year, resulting in 5,291 million yen, due to theincrease in the net sales of completed construction contracts and the gross profit margin on completed
construction contracts.
Operating profit increased by 893 million yen or 64.4% from the same quarter consolidated cumulative
period of the previous year, resulting in 2,281 million yen, due to the increase in the gross profit oncompleted construction contracts.
Ordinary profit increased by 996 million yen or 65.2% from the same quarter consolidated cumulative
period of the previous year, resulting in 2,524 million yen, due to the increase in the operating profit.
Profit attributable to owners of parent increased by 642 million yen or 59.5% from the same quarter
consolidated cumulative period of the previous year, resulting in 1,720 million yen, after deducting theincome tax - current, income taxes - deferred, and the loss attributable to non-controlling interests.
(2) Explanation on Financial Conditions(Assets)
Current assets at the end of the current first quarter consolidated accounting period decreased by 10,542
million yen or 11.2% from the end of the previous consolidated accounting year, resulting in 83,571 million
yen. The main factor for this is the decrease of 10,872 million yen or 18.4% in notes receivable, accounts
receivable from completed construction contracts. Non-current assets increased by 352 million yen or 1.2%
from the end of the previous consolidated accounting year, resulting in 29,287 million yen. The main factor
for this is the increase of 398 million yen or 2.8% in investment securities.
As a result, total assets decreased by 10,190 million yen or 8.3% from the end of the previous consolidated
accounting year, resulting in 112,859 million yen.
(Liabilities)
Current liabilities at the end of the current first quarter consolidated accounting period decreased by 11,607
million yen or 22.5% from the end of the previous consolidated accounting year, resulting in 40,021 million
yen. The main factor for this is the decrease of 7,139 million yen or 34.5% in notes payable, accounts
payable for construction contracts. Non-current liabilities increased by 510 million yen or 12.7% from theend of the previous consolidated accounting year, resulting in 4,521 million yen. The main factor for this isthat the increase of 905 million yen or 120.4% in deferred tax liabilities surpassed the decrease of 401
million yen or 20.6% in long-term borrowings.
As a result, total liabilities decreased by 11,096 million yen or 19.9% from the end of the previous
consolidated accounting year, resulting in 44,543 million yen.
(Net Assets)
Total net assets at the end of the current first quarter consolidated accounting period increased by 906
million yen or 1.3% from the end of the previous consolidated accounting year, resulting in 68,316 million
yen. The main factor for this is the increase of 629 million yen or 1.1% in retained earnings.
As a result, the equity capital ratio resulted in 60.4% (54.6% at the end of the previous consolidated
accounting year).
(3) Explanation on Future Estimate Information such as Estimate of Consolidated Performance
For the period ending March 2021, we are forecasting that Net sales of construction contract orders receiveof 161,000 million yen (decrease by 5.4% from the previous consolidated accounting year), sales ofcompleted construction contracts of 156,000 million yen (decrease by 7.8%), operating profit of 8,000
million yen (decrease by 11.7%), ordinary profit of 8,200 million yen (decrease by 11.7%) and profit
attributable to owners of parent of 5,700 million yen (decrease by 10.9%).

2

DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

2. Consolidated Financial Statements and Major Notes(1) Consolidated Balance Sheets(Millions of yen)Previous Consolidated
Accounting Year(As of March 31, 2020)
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts
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

3

Current First Quarter
Consolidated Accounting
Period(As of June 30, 2020)

21,64322,06059,071

48,19910,817
455
2,134
(8)
94,114

10,181
850
2,287
(8)
83,571

5,136
335

5,111
309

14,443
7,632
1,558
(170)
23,46228,934
123,049

14,841
7,638
1,556
(170)
23,86629,287
112,859DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

(Millions of yen)Previous Consolidated
Accounting Year(As of March 31, 2020)
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-based remuneration
Provision for warranties for completed construction
Provision for loss on construction contracts
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Net defined benefit liability
Provision for foreign investment loss
Long-term accounts payable - other
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

4

Current First Quarter
Consolidated Accounting
Period(As of June 30, 2020)

20,66813,528

10,721
3,735
2,119

9,252
3,633
37

1,027

1,108

－
－
35
85
644
12,591
51,629

1,356
15
26
83
528
10,45240,021

1,947
752
1,291
7
5
5
4,010
55,639

1,546
1,658
1,290
6
5
12
4,521
44,543

4,479
4,837
55,857(2,336)
62,8374,479
4,837
56,487(2,317)63,486

5,134
33
(804)
4,362
209
67,409123,049

5,417
17
(794)
4,640
189
68,316112,859DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

(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
Other
Total non-operating income
Non-operating expenses
Interest expenses
Guarantee commission
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

5

Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2019
to June 30, 2019)33,521
29,197
4,323
2,935
1,387

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2020
to June 30, 2020)
34,81629,525
5,291
3,009
2,281

1
155
78
－
9
244

0
148
104
22
9
285

29
1
54
18
104
1,527

31
0
－
10
42
2,524

56
56

－
－

6
65
72
1,511
(9)
445
436
1,075
(3)
1,078

－
11
11
2,512
19
775
795
1,717
(3)
1,720

DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

(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

6

Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2019
to June 30, 2019)
1,075

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2020
to June 30, 2020)
1,717

(796)
8
(16)
(805)
270

283
(32)
10
261
1,978

269
0

1,998
(19)

DAI-DAN Co., Ltd. (1980), Brief Report on the First Quarter Financial Statements for the Period Ending March 2021

(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

3. Supplementary Information
Divisional net sales of construction contract orders received, completed construction contracts, and uncompleted
construction contracts (consolidated)(Millions of yen)

Net sales of uncompleted
construction contracts

Net sales of completed
construction contracts

Net sales of construction
contract orders received

Previous First Quarter
Consolidated Cumulative
Period(From April 1, 2019
to June 30, 2019)
Component
Amountratio %

Current First Quarter
Consolidated Cumulative
Period(From April 1, 2020
to June 30, 2020)
Component
Amountratio %

Increase(decrease)

AmountRatio %

Electrical installations

5,490

11.3

6,114

16.9

624

11.4

Air conditioning
installations

30,872

63.4

21,152

58.5(9,719)(31.5)

Plumbing installations

12,334

25.3

8,899

24.6

(3,435)(27.9)

Total

48,698100.0

36,167100.0(12,530)(25.7)(Industrial facilities)

15,68232.2

11,341

31.4(4,341)(27.7)(Renovations)24,25049.8

20,21755.9(4,032)(16.6)(Overseas operations)

1,091

2.2

1,252

3.5

161

14.8

Electrical installations

5,493

16.4

5,249

15.1

(244)

(4.5)

Air conditioning
installations

20,12760.0

20,957

60.2

830

4.1

Plumbing installations

7,900

23.6

8,609

24.7

709

9.0

Total

33,521100.0

34,816

100.0

1,294

3.9

(Industrial facilities)

10,17830.4

12,561

36.1

2,383

23.4

(Renovations)

16,86350.3

17,205

49.4

342

2.0

(Overseas operations)

1,240

3.7

820

2.4

(420)

(33.9)

Electrical installations

15,465

11.2

20,379

16.2

4,913

31.8

Air conditioning
installations

88,246

63.7

77,78062.0(10,466)(11.9)

Plumbing installations

34,80025.1

27,41921.8(7,380)(21.2)

Total

138,513100.0

125,579

100.0(12,933)(9.3)(Industrial facilities)

42,57230.7

39,71331.6(2,858)(6.7)(Renovations)

39,59128.6

35,97728.6(3,613)(9.1)(Overseas operations)

4,853

3.5

8,984

7.2

4,131

85.1

7