東亜建設工業（1885） – Summary of Consolidated Financial Results for the Year Ended March 31, 2022

Note:ThisdocumentisatranslationofapartoftheoriginalJapaneseversionandprovidedforreferencepurposesonly.IntheeventofanydiscrepancybetweentheJapaneseoriginalandthisEnglishtranslation,theJapaneseoriginalshallprevail.Summary of Consolidated Financial Resultsfor the Year Ended March 31, 2022[Japanese GAAP]May 13, 2022Company name: TOA CORPORATIONStock exchange listing: Tokyo,SapporoCode number: 1885URL: https://www.toa-const.co.jp/eng/Representative: Masaki AkiyamaContact: Tetsuya KimuraPhone: +81-3-6757-3821Scheduled date of Annual General Meeting of Shareholders: June 29, 2022Scheduled date of commencing dividend payments: June 30, 2022Scheduled date of filing annual securities report: June 29, 2022Availability of supplementary briefing material on annual financial results: YesSchedule of annual financial results briefing session: YesChairman and Representative DirectorGeneral Manager, Administration Dept., Administration General H/Q(Amounts of less than one million yen are rounded down)1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 01, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)Fiscal year endedMarch 31, 2022March 31, 2021(Note) Comprehensive income:Net salesOperating profitOrdinary profitMillion yen%Million yen9,87415.9219,8148,714(0.3)189,712Fiscal year ended March 31, 2022:Fiscal year ended March 31, 2021:%13.39.5¥¥Million yen10,1389,247%9.621.67,398 million9,173 millionProfit attributable toowners of parentMillion yen7,3856,859(19.3) %]211.2%]%7.737.0[[Basic earnings pershareDiluted earnings pershareRate of return onequityOrdinary profit tototal assets ratioOperating profit tonet sales ratioFiscal year endedMarch 31, 2022March 31, 2021(Reference) Equity in earnings (losses) of affiliated companies:Yen382.81350.63Yen326.51294.34%9.19.5Fiscal year ended March 31, 2022:Fiscal year ended March 31, 2021:%4.94.5¥¥(2) Consolidated Financial PositionTotal assetsNet assetsCapital adequacy ratioNet assets per shareAs ofMarch 31, 2022March 31, 2021(Reference) Equity: As of March 31, 2022:As of March 31, 2021:Million yen212,916204,200Million yen86,72576,175¥¥86,028 million75,446 million%40.436.9(3) Consolidated Cash FlowsFiscal year endedMarch 31, 2022March 31, 2021Cash flows fromoperating activitiesCash flows frominvesting activitiesCash flows fromfinancing activitiesCash and cashequivalents at the endof periodMillion yen(2,671)1,471Million yen(2,391)(4,731)Million yen4,550(8,254)Million yen32,01732,310%4.54.6- million- millionYen3,939.693,946.12　2. DividendsFiscal year endedMarch 31, 2021March 31, 2022Fiscal year endingMarch 31, 2023(Forecast)Annual dividends1stquarter-endYen2ndquarter-endYen3rdquarter-endYenYear-endTotalTotaldividendsPayoutratio(consolidated)Dividendsto netassets(consolidated)———YenYenMillion yen80.0090.0080.0090.001,5371,97390.0090.00%22.823.529.3%2.22.3(Note) ¥7 million for Fiscal Year Ending March 2021 and ¥8 million for Fiscal Year Ending March 2022 of dividend payments forthe shares acquired by the Board Benefit Trust (BBT) are included.3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 01, 2022 to March 31, 2023)Net salesOperating profit(% indicates changes from the previous corresponding period.)Basic earnings perProfit attributable toshareowners of parentOrdinary profitFull yearMillion yen220,000% Million yen9,6000.1% Million yen9,500(2.8)% Million yen6,600(6.3)%(10.6)Yen307.01* Explanatory Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) 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(3) Total number of issued shares (common shares)1) Total number of issued shares at the end of the period (including treasury shares):March 31, 2022:March 31, 2021:March 31, 2022:March 31, 2021:22,494,629 shares22,494,629 shares658,371 shares3,375,462 shares2) Total number of treasury shares at the end of the period:3) Average number of shares during the period:Fiscal Year ended March 31, 2022:Fiscal Year ended March 31, 2021:19,292,298 shares19,563,283 shares(Note) Both the number of treasury stock at the end of the period and the number of treasury stock excluded for calculating theaverage number of shares during the period include the company’s shares held by the Board Benefit Trust (BBT).　(Reference) Summary of Non-consolidated Financial Results1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2022 (April 01, 2021 to March 31, 2022)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)Net salesOperating profitOrdinary profitNet incomeFiscal year endedMarch 31, 2022March 31, 2021Million yen210,721180,725%16.6(0.6)Million yen8,6837,293%19.16.0Million yen8,9487,812%14.518.9Million yen6,5376,102%7.137.1Basic earnings per share Diluted earnings per shareFiscal year endedMarch 31, 2022March 31, 2021Yen338.87307.79Yen289.03258.93(2) Non-consolidated Financial PositionTotal assetsNet assetsCapital adequacy ratioNet assets per shareAs ofMarch 31, 2022March 31, 2021(Reference) Equity: As of March 31, 2022:As of March 31, 2021:Million yen202,981192,150Million yen75,25266,036¥¥75,252 million66,036 million%37.134.4Yen3,446.203,453.942. Non-consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 01, 2022 to March 31, 2023)Net salesOperating profit(% indicates changes from the previous corresponding period.)Basic earnings pershareOrdinary profitNet incomeFull yearMillion yen211,000% Million yen8,8000.1% Million yen8,7001.3% Million yen6,100(2.8)%(6.7)Yen283.75* This document is not subject to quarterly review procedures by certified public accountants or audit firms.* Disclaimer regarding appropriate use of the forecasts and other specific remarks:The forecasts given above are based on information currently available and certain premises regarded as reasonable. The actualbusiness results may be materially different from forecasts due to a variety of factors.　Consolidated Financial StatementsConsolidated Balance SheetsAssetsCurrent assetsCash and depositsNotes receivable, accounts receivable fromcompleted construction contracts and otherSecuritiesCosts on construction contracts in progressReal estate for saleAdvances paidOtherAllowance for doubtful accountsTotal current assetsNon-current assetsProperty, plant and equipmentBuildings and structuresMachinery, vehicles, tools, furniture andfixturesLandLeased assetsConstruction in progressAccumulated depreciationTotal property, plant and equipmentIntangible assetsInvestments and other assetsInvestment securitiesLong-term loans receivableDeferred tax assetsOtherAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assetsAs of March 31,2021As of March 31,2022(Million yen)32,33187,702-5,1971,84315,2859,535(275)151,61915,45420,03919,0502,6276,197(28,624)34,7451,05011,3241314,2381,637(546)16,78552,580204,20032,028111,809423,5971,5588,2114,831(7)162,07215,68920,92319,1272,6526,015(29,312)35,09597510,6001162,9941,600(539)14,77150,843212,916― 1 ―　LiabilitiesCurrent liabilitiesNotes payable, accounts payable for constructioncontracts and otherElectronically recorded obligations – operatingShort-term borrowingsIncome taxes payableAdvances received on construction contracts inprogressDeposits receivedProvision for warranties for completedconstructionProvision for loss on construction contractsProvision for loss on construction defectProvision for bonuses for directors (and otherofficers)OtherTotal current liabilitiesNon-current liabilitiesConvertible-bond-type bonds with shareacquisition rightsLong-term borrowingsDeferred tax liabilities for land revaluationRetirement benefit liabilityProvision for share awards for directors (and otherofficers)OtherTotal non-current liabilitiesTotal liabilitiesNet assetsShareholders’ equityShare capitalCapital surplusRetained earningsTreasury sharesTotal shareholders’ equityAccumulated other comprehensive incomeValuation difference on available-for-salesecuritiesDeferred gains or losses on hedgesRevaluation reserve for landRemeasurements of defined benefit plansTotal accumulated other comprehensive incomeNon-controlling interestsTotal net assetsTotal liabilities and net assetsAs of March 31,2021As of March 31,2022(Million yen)32,00511,9299,8652,22613,17623,5469411,705192-5,325100,9146,99011,8852,3202,504723,33727,111128,02518,97618,12437,647(5,247)69,5002,700(8)3,659(405)5,94572876,175204,20034,6017,89718,8751,73715,78518,2558591,809-637,864107,7501,05010,9372,3201,3391062,68618,440126,19018,97619,04243,543(1,524)80,0372,23553,659895,99069786,725212,916― 2 ―　Consolidated Statements of Income and Comprehensive IncomeConsolidated Statements of IncomeFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022Selling, general and administrative expensesNet salesCost of salesGross profitOperating profitNon-operating incomeInterest incomeDividend incomeForeign exchange gainsOtherTotal non-operating incomeNon-operating expensesInterest expensesGuarantee feeProvision of allowance for doubtful accountsCommission expensesOtherTotal 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 retirement of non-current assetsLoss on sale of investment securitiesImpairment lossesOtherTotal extraordinary lossesProfit before income taxesIncome taxes – currentIncome taxes – deferredTotal income taxesProfitProfit (loss) attributable to non-controlling interestsProfit attributable to owners of parent(Million yen)219,814198,43721,37611,5029,87448410,1381927037285748251143-662310221523701008019310,2831,7241,2042,9297,354(31)7,385189,712169,98319,72811,0138,71421340875561,005228162(49)12834739,2470-1,4481,4497227242391851810,1771,9941,2993,2936,884246,859― 3 ―　Consolidated Statements of Comprehensive IncomeProfitOther comprehensive incomeValuation difference on available-for-sale securitiesDeferred gains or losses on hedgesRemeasurements of defined benefit plans, net of taxTotal other comprehensive incomeComprehensive incomeComprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to non-controllinginterestsFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022(Million yen)6,884128182,1412,2899,1739,148247,354(465)14495447,3987,430(31)― 4 ―　Consolidated Statements of Changes in Net AssetsFor the fiscal year ended March 31,2021Shareholders’ equityShare capital Capital surplusRetainedearningsTreasuryshares18,97618,12131,773(4,066)64,80518,97618,12131,773(4,066)64,805(Million yen)Totalshareholders’equity(985)6,859-510(1,194)(1,194)57(985)6,85922-5,874(1,181)4,69518,97618,12437,647(5,247)69,500Accumulated other comprehensive incomeValuationdifference onavailable-for-salesecuritiesDeferred gainsor losses onhedgesRevaluationreserve forlandRemeasurementsof definedbenefit plansTotalaccumulatedothercomprehensiveincomeNon-controllinginterestsTotal netassets2,571(27)3,659(2,547)3,65670369,1662,571(27)3,659(2,547)3,65670369,166Balance at beginningof periodCumulative effects ofchanges in accountingpoliciesRestated balanceChanges duringperiodDividends ofsurplusProfit attributable toowners of parentPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertiblebond-type bondswith subscriptionrights to sharesNet changes initems other thanshareholders’ equityTotal changesduring periodBalance at end ofperiodBalance at beginningof periodCumulative effects ofchanges in accountingpoliciesRestated balanceChanges duringperiodDividends ofsurplusProfit attributable toowners of parentPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertiblebond-type bondswith subscriptionrights to sharesNet changes initems other thanshareholders’ equityTotal changesduring periodBalance at end ofperiod-(985)6,859(1,194)5102,3147,0091281282,7001818(8)2,1412,2892,141(405)2,2895,945242472876,175–3,659― 5 ―　For the fiscal year ended March 31,2022Shareholders’ equityShare capital Capital surplusRetainedearningsTreasuryshares(Million yen)Totalshareholders’equity18,97618,12437,647(5,247)69,500484818,97618,12437,695(5,247)69,548(1,537)7,385(1,537)7,385(1,306)(1,306)779175,0225,940-9175,8483,72210,48818,97619,04243,543(1,524)80,037Accumulated other comprehensive incomeValuationdifference onavailable-for-salesecuritiesDeferred gainsor losses onhedgesRevaluationreserve forlandRemeasurementsof definedbenefit plansTotalaccumulatedothercomprehensiveincomeNon-controllinginterestsTotal netassets2,700(8)3,659(405)5,94572876,1752,700(8)3,659(405)5,94572876,223Balance at beginningof periodCumulative effects ofchanges in accountingpoliciesRestated balanceChanges duringperiodDividends ofsurplusProfit attributable toowners of parentPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertiblebond-type bondswith subscriptionrights to sharesNet changes initems other thanshareholders’ equityTotal changesduring periodBalance at end ofperiodBalance at beginningof periodCumulative effects ofchanges in accountingpoliciesRestated balanceChanges duringperiodDividends ofsurplusProfit attributable toowners of parentPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertiblebond-type bondswith subscriptionrights to sharesNet changes initems other thanshareholders’ equityTotal changesduring periodBalance at end ofperiod48(1,537)7,385(1,306)75,9401310,50286,725(465)(465)2,23514145–3,6594954958944445,990(31)(31)697― 6 ―　Consolidated Statements of Cash FlowsFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022(Million yen)Cash flows from operating activitiesProfit before income taxesDepreciationImpairment lossesIncrease (decrease) in allowance for doubtful accountsIncrease (decrease) in retirement benefit liabilityIncrease (decrease) in provision for loss onconstruction defectInterest and dividend incomeInterest expensesForeign exchange losses (gains)Increase (decrease) in accrued consumption taxesLoss (gain) on valuation of short-term and long-terminvestment securitiesLoss (gain) on sale of short-term and long-terminvestment securitiesLoss (gain) on sale of property, plant and equipmentand intangible assetsLoss on retirement of property, plant and equipmentand intangible assetsDecrease (increase) in trade receivablesDecrease (increase) in costs on construction contractsin progressDecrease (increase) in real estate for saleDecrease (increase) in advances paidIncrease (decrease) in trade payablesIncrease (decrease) in advances received onconstruction contracts in progressIncrease (decrease) in deposits receivedOther, netSubtotalInterest and dividends receivedInterest paidIncome taxes paidNet cash provided by (used in) operating activitiesCash flows from investing activitiesPurchase of property, plant and equipmentProceeds from sale of property, plant and equipmentPurchase of intangible assetsPurchase of short-term and long-term investmentsecuritiesProceeds from sale and redemption of short-term andlong-term investment securitiesLoan advancesProceeds from collection of loans receivableOther, netNet cash provided by (used in) investing activities10,1771,635239(49)(694)(1,307)(362)228(94)(1,441)10(1,423)7212(4,426)2,112273(3,217)(2,756)3,0702,384(2,386)2,193362(229)(854)1,471(5,684)70(274)(1,080)2,133(261)34224(4,731)10,2832,22580(20)(749)(192)(290)251(206)(221)(10)163,119(21,779)(541)1277,073(1,435)2,693(5,282)4,379(487)290(298)(2,175)(2,671)(2,418)25(262)(51)292(0)184(2,391)― 7 ―　Cash flows from financing activitiesNet increase (decrease) in short-term borrowingsProceeds from long-term borrowingsRepayments of long-term borrowingsPurchase of treasury sharesDividends paidOther, netNet cash provided by (used in) financing activitiesEffect of exchange rate change on cash and cashequivalentsNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at beginning of periodCash and cash equivalents at end of periodFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022(Million yen)(4,520)4,900(6,100)(1,194)(981)(358)(8,254)77(11,436)43,74632,3109,8014,010(5,749)(1,306)(1,531)(672)4,550219(293)32,31032,017― 8 ―　Non-consolidated Financial StatementsNon-consolidated Balance SheetsAssetsCurrent assetsCash and depositsNotes receivable – tradeAccounts receivable from completed constructioncontractsAccounts receivable-side line businessSecuritiesCosts on construction contracts in progressCosts on uncompleted side line businessReal estate for saleAdvances paidOtherAllowance for doubtful accountsTotal current assetsNon-current assetsProperty, plant and equipmentBuildingsAccumulated depreciationBuildings, netStructuresAccumulated depreciationStructures, netMachinery and equipmentAccumulated depreciationMachinery and equipment, netAccumulated depreciationVesselsVessels, netVehiclesAccumulated depreciationVehicles, netTools, furniture and fixturesAccumulated depreciationTools, furniture and fixtures, netLandLeased assetsAccumulated depreciationLeased assets, netConstruction in progressTotal property, plant and equipmentAs of March 31,2021As of March 31,2022(Million yen)28,4243,85078,2272,474-3,6311591,79615,24610,540(270)144,0827,361(5,438)1,9231,841(1,422)4183,321(2,965)3568,087(7,076)1,011334(223)1102,495(2,138)35615,5122,826(509)2,3176,22528,23229,0042,634103,7122,925422,3151021,5138,1815,355(1)155,7887,536(5,485)2,0511,892(1,456)4353,336(3,000)3369,486(7,496)1,989304(218)862,598(2,123)47415,5892,854(970)1,8836,01628,862― 9 ―　Intangible assetsInvestments and other assetsInvestment securitiesShares of subsidiaries and associatesLong-term loans receivable from subsidiariesand associatesDeferred tax assetsOtherAllowance for doubtful accountsTotal investments and other assetsTotal non-current assetsTotal assetsLiabilitiesCurrent liabilitiesNotes payable – tradeElectronically recorded obligations – operatingAccounts payable for construction contractsShort-term borrowingsLease liabilitiesIncome taxes payableAdvances received on construction contracts inprogressAdvances received on uncompleted side linebusinessDeposits receivedProvision for warranties for completedconstructionProvision for loss on construction contractsProvision for loss on construction defectProvision for bonuses for directors (and otherofficers)OtherTotal current liabilitiesNon-current liabilitiesConvertible-bond-type bonds with shareacquisition rightsLong-term borrowingsLease liabilitiesDeferred tax liabilities for land revaluationProvision for retirement benefitsProvision for share awards for directors (and otherofficers)OtherTotal non-current liabilitiesTotal liabilitiesAs of March 31,2021As of March 31,2022(Million yen)99710,6382,3731,1013,6171,653(546)18,83848,068192,1503,18114,18624,1538,8225401,90812,7774726,3689411,700192-6,550101,3716,99011,6822,0132,3201,4247223824,742126,1139279,8522,3961,4852,5821,625(539)17,40347,193202,9812,1359,22129,61818,5925151,47815,39512522,0008591,804-638,798110,6081,05010,9171,5602,32091110625517,120127,729― 10 ―　Net assetsShareholders’ equityShare capitalCapital surplusLegal capital surplusOther capital surplusTotal capital surplusRetained earningsOther retained earningsGeneral reserveTotal retained earningsTreasury sharesTotal shareholders’ equityRetained earnings brought forwardValuation and translation adjustmentsValuation difference on available-for-salesecuritiesDeferred gains or losses on hedgesRevaluation reserve for landTotal valuation and translation adjustmentsTotal net assetsTotal liabilities and net assetsAs of March 31,2021As of March 31,2022(Million yen)18,9764,74413,43118,17614,00013,39927,399(4,763)59,7882,596(8)3,6596,24766,036192,15018,9764,74414,34919,09414,00018,44832,448(1,040)69,4782,10853,6595,77475,252202,981― 11 ―　Non-consolidated Statements of IncomeNet salesNet sales of completed construction contractsNet sales in development business and otherNet sales of real estate business and othersTotal net salesCost of salesCost of sales of completed construction contractsCost of sales in development business and otherCost on sales on real estate business and otherTotal cost of salesGross profitGross profit on completed construction contractsGross profit on development business and otherGross profit on real estate business and othersTotal gross profitSelling, general and administrative expensesRemuneration for directors (and other officers)Employees’ salaries and allowancesCommunication and transportation expensesRetirement benefit expensesLegal welfare expensesWelfare expensesStationery expensesResearch study expensesAdvertising expensesEntertainment expensesDonationsDepreciationTaxes and duesMiscellaneous expensesRent expenses on land and buildingsProvision of allowance for doubtful accountsTotal selling, general and administrative expensesOperating profitFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022(Million yen)175,6643,7411,319180,725159,4493,113759163,32216,21462856017,4032344,1814846043845032489111080892370931857473310,1107,293205,9393,977804210,721187,7713,261392191,42518,16771541219,2952594,63223667143853028787112101111269237056780810,6118,683― 12 ―　Provision of allowance for doubtful accountsNon-operating incomeInterest incomeInterest on securitiesDividend incomeForeign exchange gainsOtherTotal non-operating incomeNon-operating expensesInterest expensesGuarantee feeCommission expensesOtherTotal 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 retirement of non-current assetsLoss on sale of investment securitiesImpairment lossesOtherTotal extraordinary lossesProfit before income taxesIncome taxes – currentIncome taxes – deferredTotal income taxesProfitFor the fiscal yearended March 31,2021For the fiscal yearended March 31,2022(Million yen)380331875431,001238161(49)12834827,812–1,4481,44872524239183158,9451,5441,2982,8426,1024818,94842025937270745249142-662220120504060801899,0641,3111,2152,5266,537― 13 ―　Non-consolidated Statements of Changes in Net AssetsFor the fiscal year ended March 31,2021Shareholders’ equityCapital surplusRetained earningsOther retained earningsShare capitalLegalcapitalsurplusOthercapitalsurplusTotal capitalsurplusGeneralreserveTotalretainedearningsRetainedearningsbroughtforward(Million yen)TreasurysharesTotalshareholders’equity18,9764,74413,42918,17314,0008,30022,300(3,539)55,910Restated balance18,9764,74413,42918,17314,0008,30022,300(3,539)55,910(1,002)(1,002)6,1026,102(1,002)6,102(1,236)(1,236)-51057Balance at end of period18,9764,74413,43118,17614,00013,39927,399(4,763)59,788—5,0995,099(1,224)3,8782222Valuation and translation adjustmentsValuationdifferenceonavailable-for-salesecuritiesDeferredgains orlosses onhedgesRevaluationreserve forlandTotalvaluation andtranslationadjustmentsTotal netassets2,381(27)3,6596,01361,924Restated balance2,381(27)3,6596,01361,924Balance at beginning ofperiodCumulative effects ofchanges in accountingpoliciesChanges during periodDividends of surplusProfitPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertible bond-typebonds withsubscription rights tosharesNet changes in itemsother thanshareholders’ equityTotal changes duringperiodBalance at beginning ofperiodCumulative effects ofchanges in accountingpoliciesChanges during periodDividends of surplusProfitPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertible bond-typebonds withsubscription rights tosharesNet changes in itemsother thanshareholders’ equityTotal changes duringperiod(1,002)6,102(1,236)-5102142141818–2332332334,111Balance at end of period2,596(8)3,6596,24766,036― 14 ―　For the fiscal year ended March 31,2022Shareholders’ equityCapital surplusRetained earnings(Million yen)Share capitalLegal capitalsurplusOther capitalsurplusTotal capitalsurplusOther retained earningsGeneralreserveTotalretainedearningsRetainedearningsbroughtforwardTreasurysharesTotalshareholders’equity18,9764,74413,43118,17614,00013,39927,399(4,763)59,788Restated balance18,9764,74413,43118,17614,00013,44727,447(4,763)59,836484848(1,537)(1,537)6,5376,537(1,537)6,537(1,306)(1,306)779179175,0225,940Balance at end of period18,9764,74414,34919,09414,00018,44832,448(1,040)69,478–917917-5,0005,0003,7229,641Valuation and translation adjustmentsValuationdifferenceonavailable-for-salesecuritiesDeferredgains orlosses onhedgesRevaluationreserve forlandTotalvaluationandtranslationadjustmentsTotal netassets2,596(8)3,6596,24766,036Restated balance2,596(8)3,6596,24766,084Balance at beginning ofperiodCumulative effects ofchanges in accountingpoliciesChanges during periodDividends of surplusProfitPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertible bond-typebonds withsubscription rights tosharesNet changes in itemsother thanshareholders’ equityTotal changes duringperiodBalance at beginning ofperiodCumulative effects ofchanges in accountingpoliciesChanges during periodDividends of surplusProfitPurchase of treasurysharesDisposal of treasurysharesConversion ofconvertible bond-typebonds withsubscription rights tosharesNet changes in itemsother thanshareholders’ equityTotal changes duringperiod48(1,537)6,537(1,306)75,940(487)(487)14145–(473)(473)(473)9,167Balance at end of period2,1083,6595,77475,252― 15 ―