西松建設（1820） – Consolidated Financial Results for the Nine Months Ended December 31, 2021 [Japanese GAAP]

Note:ThisdocumentisatranslationofapartoftheoriginalJapaneseversionandprovidedforreferencepurposesonly.IntheeventofanydiscrepancybetweentheJapaneseoriginalandthisEnglishtranslation,theJapaneseoriginalshallprevail.Consolidated Financial Resultsfor the Nine Months Ended December 31, 2021[Japanese GAAP]February 04, 2022Company name: Nishimatsu Construction Co., Ltd.Stock exchange listing: TokyoCode number: 1820URL: https://www.nishimatsu.co.jp/Representative: Nobutoshi TakaseContact:Junichi UsukiPhone: 03(3502)0232Scheduled date of filing quarterly securities report: February 04, 2022Scheduled date of commencing dividend payments: -Availability of supplementary briefing material on quarterly financial results: YesSchedule of quarterly financial results briefing session: NoRepresentative Director and PresidentGeneral Manager of Finance & Accounting Department(Amounts of less than one million yen are rounded down)1. Consolidated Financial Results for the Nine Months Ended December 31, 2021 (April 01, 2021 to December 31, 2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)Nine months endedDecember 31, 2021December 31, 2020Million yen235,409248,329%(5.2)(7.6)Net salesOperating profitOrdinary profitMillion yen18,896%40.4Million yen18,810%33.5Profit attributable toowners of parentMillion yen10,958%9.413,461(24.5)14,093(23.3)10,017(28.6)(Note) Comprehensive income:Nine months ended December 31, 2021:Nine months ended December 31, 2020:¥¥8,337 million11,865 million[[(29.7) %](2.0) %]Basic earningsper shareDiluted earnings pershareYen213.54183.13Yen–(2) Consolidated Financial PositionNine months endedDecember 31, 2021December 31, 2020As ofDecember 31, 2021March 31, 2021Total assetsNet assetsCapital adequacy ratioMillion yen486,566472,440Million yen150,106207,537%30.543.6(Reference) Equity: As of December 31, 2021:As of March 31, 2021:¥¥148,502 million205,982 million　2. DividendsFiscal year ended March 31, 2021Fiscal year ending March 31, 2022Fiscal year ending March 31, 2022(Forecast)Annual dividends1stquarter-end2ndquarter-end3rdquarter-endYear-endTotalYen–Yen-90.00Yen–Yen105.00Yen105.00131.00221.00(Note) Revision to the forecast for dividends announced most recently:No3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022(April 01, 2021 to March 31, 2022)Net salesOperating profitFull yearMillion yen319,500%(5.0)Million yen23,500%12.2Million yen23,000%6.7(Note) Revision to the financial results forecast announced most recently:Yes(% indicates changes from the previous corresponding period.)Basic earningsper shareOrdinary profitProfit attributable toowners of parentMillion yen14,300%(16.7)Yen295.72* Notes:(1) Changes in significant subsidiaries during the nine months ended December 31, 2021(changes in specified subsidiaries resulting in changes in scope of consolidation):No(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements:No(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement1) Changes in accounting policies due to the revision of accounting standards: Yes2) Changes in accounting policies other than 1) above: No3) Changes in accounting estimates: No4) Retrospective restatement: No(4) Total number of issued shares (common shares)1) Total number of issued shares at the end of the period (including treasury shares):December 31, 2021:March 31, 2021:55,591,502 shares55,591,502 shares2) Total number of treasury shares at the end of the period:December 31, 2021:March 31, 2021:16,118,007 shares890,792 shares3) Average number of shares during the period:Nine months ended December 31, 2021:Nine months ended December 31, 2020:51,316,521 shares54,701,421 shares　Quarterly Consolidated Financial StatementsQuarterly Consolidated Balance SheetsAssetsCurrent assetsCash and depositsNotes receivable, accounts receivable fromcompleted construction contracts and otherCosts on construction contracts in progressReal estate for saleCosts on real estate businessRaw materials and suppliesAdvances paidOtherAllowance for doubtful accountsTotal current assetsNon-current assetsProperty, plant and equipmentBuildings and structures, netMachinery, vehicles, tools, furniture andfixtures, netLandLeased assets, netConstruction in progressTotal property, plant and equipmentIntangible assetsInvestments and other assetsInvestment securitiesLong-term loans receivableRetirement benefit assetDeferred tax assetsOtherAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assetsAs of March 31,2021As of December 31,2021(Million yen)43,769203,0826,3732,5434,7946709,3064,897(163)275,27352,4731,18083,759684,155141,6361,18944,6415999613,3144,905(80)54,340197,166472,44054,125173,2287,3411,1235,50362911,35312,634(18)265,92265,2301,56397,068591,214165,1351,15840,4626642,6664,1876,446(76)54,349220,643486,566　1LiabilitiesCurrent liabilitiesNotes payable, accounts payable for constructioncontracts and otherShort-term borrowingsCommercial papersCurrent portion of bonds payableIncome taxes payableAdvances received on construction contracts inprogressProvision for warranties for completedconstructionProvision for bonusesProvision for loss on construction contractsProvision for loss on real estate business and otherAsset retirement obligationsDeposits receivedOtherTotal current liabilitiesNon-current liabilitiesBonds payableDeferred tax liabilitiesProvision for environmental measuresRetirement benefit liabilityAsset retirement obligationsOtherTotal non-current liabilitiesTotal liabilitiesNet assetsShareholders’ equityShare capitalCapital surplusRetained earningsTreasury sharesTotal shareholders’ equityAccumulated other comprehensive incomeValuation difference on available-for-salesecuritiesForeign currency translation adjustmentRemeasurements of defined benefit plansTotal accumulated other comprehensive incomeNon-controlling interestsTotal net assetsTotal liabilities and net assetsAs of March 31,2021As of December 31,2021(Million yen)56,30535,03920,000-7,96818,7039,8152,8941,48828-34,3064,579191,12760,00030126,3406366,49473,775264,90323,51320,780154,041(2,177)196,15810,627(296)(506)9,8241,554207,537472,44054,47976,16440,00010,0001,59914,4689,7121,3201,870392458,1253,541271,34450,000301-6,4366757,70165,114336,45923,51320,780154,340(57,333)141,3007,68725(510)7,2011,604150,106486,566　2Quarterly Consolidated Statements of Income and Comprehensive IncomeQuarterly Consolidated Statements of Income (For the nine months)For the nine monthsended December 31,2020For the nine monthsended December 31,2021(Million yen)Net sales of completed construction contractsNet sales in real estate business and otherCost of sales of completed construction contractsCost of sales in real estate business and otherNet salesTotal net salesCost of salesTotal cost of salesGross profitGross profit on completed construction contractsGross profit on real estate business and otherTotal gross profitSelling, general and administrative expensesReversal of allowance for doubtful accountsOperating profitNon-operating incomeInterest incomeDividend incomeForeign exchange gainsLate charges incomeOtherTotal non-operating incomeNon-operating expensesInterest expensesForeign exchange lossesFinancing expensesAdvisory feesOtherTotal non-operating expensesOrdinary profitExtraordinary incomeGain on sale of non-current assetsGain on sale of investment securitiesOtherTotal extraordinary incomeExtraordinary lossesLoss on sale of non-current assetsLoss on sale of investment securitiesHead office relocation expensesIncrease (decrease) in employee depositsProvision for warranties for completed constructionOtherTotal extraordinary lossesProfit before income taxesIncome taxesProfitProfit attributable to non-controlling interestsProfit attributable to owners of parent3237,75610,573248,329214,7426,502221,24523,0134,07027,08413,62313,4614879710–3951,2513381371-14161914,0931-1,7141,715284112641-1671,00714,8014,61410,18616810,017223,13612,273235,409194,2057,989202,19528,9304,28333,21414,31818,8961,80123575148119498435393-6146232551,88718,810330771–10552,9983,13415,6834,67811,0044610,958Quarterly Consolidated Statements of Comprehensive Income (For the nine months)For the nine monthsended December 31,2020For the nine monthsended December 31,2021(Million yen)ProfitOther comprehensive incomeValuation difference on available-for-sale securitiesForeign currency translation adjustmentRemeasurements of defined benefit plans, net of taxTotal other comprehensive incomeComprehensive incomeComprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterests10,1862,071(545)1521,67911,86511,893(27)11,004(2,940)277(4)(2,667)8,3378,33524