福田組（1899） – [Delayed]Summary of Consolidated Financial Results for the Three Months Ended March 31, 2022 (Based on Japanese GAAP)

Translation Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail. Summary of Consolidated Financial Results for the Three Months Ended March 31, 2022 (Based on Japanese GAAP) May 11, 2022Company name: FUKUDA CORPORATION Stock exchange listing: Tokyo Stock code: 1899 URL https://www.fkd.co.jp/ Representative: Representative Director and President Masanori Araaki Inquiries: Director and General Manager of Administration Department Katsuhiko Iwasaki TEL 025-266-9111 Scheduled date to file Quarterly Securities Report: May 12, 2022 Scheduled date to commence dividend payments: Preparation of supplementary material on quarterly financial results: No – No Holding of quarterly financial results meeting: 1. Consolidated financial results for the three months ended March 31, 2022 (from January 1, 2022 to March 31, 2022) (1) Consolidated operating results (cumulative) Net sales Operating profit Percentages indicate year-on-year changesProfit attributable to owners of parent Ordinary profit Three months ended March 31, 2022 Three months ended March 31, 2021 Millions of yen 37,278 46,721 % Millions of yen 2,003 3,810 (20.2)1.8 % Millions of yen 2,067 3,915 (47.4)52.5 % Millions of yen 1,491 2,598 (47.2)53.3 % (42.6)42.1 (Amounts less than one million yen are rounded down)Three months ended March 31, 2022 Three months ended March 31, 2021 (2) Consolidated financial position As of March 31, 2022 As of December 31, 2021 2. Cash dividends Earnings per share Diluted earnings per share Yen 174.92 305.00 Yen – – Total assets Net assets Equity ratio Millions of yen 139,032 130,755 Millions of yen 76,662 76,412 % 54.7 57.9 1st quarter-end 2nd quarter-end 3rd quarter-end Fiscal year-end Total Annual dividends per share Year ended December 31, 2021 Year ending December 31, 2022 Year ending December 31, 2022 (Forecast) Yen – – Yen 0.00 0.00 Yen – – Yen 130.00 120.00 Yen 130.00 120.00 3. Forecast of consolidated financial results for the year ending December 31, 2022 (from January 1, 2022 to December 31, 2022) Net sales Operating profit Ordinary profit Percentages indicate year-on-year changesProfit attributable to owners of parent Earnings per share Full year Millions of yen 155,000 % Millions of yen 6,200 (13.8)% Millions of yen 6,400 (30.3)% Millions of yen 4,100 (30.0)% (30.1)Yen 480.98 14. Notes (1) Changes in significant subsidiaries during the three months ended March 31, 2022 (changes in specified subsidiaries resulting in the change in scope of consolidation): (2) Application of special accounting methods for preparing quarterly consolidated financial statements: No (3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements Changes in accounting policies due to revisions to accounting standards and other regulations: Changes in accounting policies due to other reasons: Changes in accounting estimates: Restatement of prior period financial statements: No Yes No No No (4) Number of issued shares (common shares) Total number of issued shares at the end of the period (including treasury shares) As of March 31, 2022 8,988,111 shares As of December 31, 2021 8,988,111 shares Number of treasury shares at the end of the period As of March 31, 2022 463,922 shares As of December 31, 2021 464,902 shares Average number of shares during the period (cumulative from the beginning of the fiscal year) Three months ended March 31, 2022 8,523,744 shares Three months ended March 31, 2021 8,519,733 shares 2 As of December 31, 2021 As of March 31, 2022 (Millions of yen) 23,288 63,660 816 2,068 2,335 358 1,885 1,059 (12) 95,462 22,745 13,732 15,539 1,057 (26,656) 26,419 523 523 5,352 52 1,898 407 916 (276) 8,349 35,292 130,755 36,642 59,491 552 595 2,335 345 2,351 1,024 (10) 103,327 23,009 13,789 15,764 793 (26,835) 26,521 504 504 5,328 48 1,937 727 914 (276) 8,678 35,704 139,032 Quarterly consolidated financial statements Consolidated balance sheets Assets Current assets Cash and deposits Notes receivable, accounts receivable from completed construction contracts and other Real estate for sale Costs on construction contracts in progress Costs on real estate business Other inventories Accounts receivable – other Other Allowance for doubtful accounts Total current assets Non-current assets Property, plant and equipment Buildings and structures Machinery, vehicles, tools, furniture and fixtures Land Other Accumulated depreciation Total property, plant and equipment Intangible assets Other Total intangible assets Investments and other assets Investment securities Long-term loans receivable Retirement benefit asset Deferred tax assets Other Allowance for doubtful accounts Total investments and other assets Total non-current assets Total assets 3 As of December 31, 2021 As of March 31, 2022 (Millions of yen) Notes payable, accounts payable for construction contracts Advances received on uncompleted construction contracts Liabilities Current liabilities and other Short-term borrowings Income taxes payable and other Provisions Other Total current liabilities Non-current liabilities Long-term borrowings Deferred tax liabilities Total liabilities Net assets Shareholders’ equity Share capital Capital surplus Retained earnings Treasury shares Deferred tax liabilities for land revaluation Retirement benefit liability Provisions Other Total non-current liabilities Total shareholders’ equity Accumulated other comprehensive income Valuation difference on available-for-sale securities Revaluation reserve for land Remeasurements of defined benefit plans Total accumulated other comprehensive income Non-controlling interests Total net assets Total liabilities and net assets 34,862 320 1,508 3,339 439 6,553 47,024 767 79 838 542 2,632 2,457 7,318 54,342 5,158 6,169 66,075 (2,271) 75,131 677 (112) 72 636 643 76,412 130,755 35,882 7,905 706 3,433 1,494 5,744 55,166 665 72 838 546 2,618 2,462 7,203 62,370 5,158 6,169 66,080 (2,265) 75,141 666 122 58 847 672 76,662 139,032 4Consolidated statements of income (cumulative) and consolidated statements of comprehensive income (cumulative) Consolidated statements of income (cumulative) Three months ended Three months ended March 31, 2021 March 31, 2022 (Millions of yen) 42,308 1,316 3,096 46,721 37,257 910 2,489 40,658 5,050 405 606 6,063 2,252 3,810 3 65 29 42 141 15 4 3 6 5 36 0 34 – 34 3,915 32,346 1,021 3,910 37,278 29,149 659 3,212 33,021 3,196 361 698 4,256 2,253 2,003 4 59 – 28 92 14 4 2 7 0 3 – 1 4 28 2,067 Net sales Net sales of completed construction contracts Sales in real estate business Sales in other businesses Total net sales Cost of sales Cost of sales of completed construction contracts Cost of sales in real estate business Cost of sales in other businesses Total cost of sales Gross profit Gross profit on completed construction contracts Gross profit – real estate business Gross profit – other business Total gross profit Selling, general and administrative expenses Operating profit Non-operating income Interest income Dividend income Reversal of allowance for doubtful accounts Other Total non-operating income Non-operating expenses Interest expenses Commission for syndicated loans Prepayment guarantee fee Other Total non-operating expenses Ordinary profit Extraordinary income Gain on sale of non-current assets Gain on sale of investment securities Other Total extraordinary income Share of loss of entities accounted for using equity method 5 Three months ended Three months ended March 31, 2021 March 31, 2022 (Millions of yen) 0 13 1 15 3,933 1,451 (169) 1,282 2,651 53 2,598 1 0 – 1 2,070 775 (244) 530 1,540 49 1,491 Extraordinary losses Loss on retirement of non-current assets Loss on valuation of investment securities Loss on tax purpose reduction entry of non-current assets Total extraordinary losses Profit before income taxes Income taxes – current Income taxes – deferred Total income taxes Profit Profit attributable to non-controlling interests Profit attributable to owners of parent 6Consolidated statements of comprehensive income (cumulative) Three months ended Three months ended March 31, 2021 March 31, 2022 (Millions of yen) Profit Other comprehensive income Valuation difference on available-for-sale securities Remeasurements of defined benefit plans, net of tax Share of other comprehensive income of entities accounted for using equity method Total other comprehensive income Comprehensive income Comprehensive income attributable to Comprehensive income attributable to owners of parent Comprehensive income attributable to non-controlling interests 2,651 108 3 0 112 2,764 2,708 55 1,540 (9) (14) (0) (24) 1,515 1,465 50 7