Dai Dan : Consolidated Financial Statements for the Period Ending March 2026

Consolidated Financial Statements for the Period Ending March 2026 [Japanese Standard]

Name of listed company: DAI-DAN Co., Ltd. Stock Exchange Listing:

May 13, 2026

Code No.: 1980 URL: https://www.daidan.co.jp/ Tokyo Stock Exchange Prime Market Representative of Company: Yasuhiro Yamanaka, Representative Director,

President, and Corporate Officer

Inquiries to be addressed to: Yoji Sasaki, Director and Senior Corporate Officer,

CIO and Head of General Administration Division Tel. +81-6-6447-8003 Date scheduled to ordinary shareholders general meeting convention: June 26, 2026

Date scheduled to dividend payment commencement: June 29, 2026

Date scheduled to submit annual securities report: June 23, 2026

Creating supplements to the financial statement: Yes

Holding a briefing session on the financial statement: Yes (for instituted investors and analysts)

(Amounts are indicated with figures less than 1 million yen discarded)

1. Consolidated business results for the period ending March 2026 (From April 1, 2025 to March 31, 2026)

   1. Consolidated management performance (Cumulative total) (Percentage indications show increase or decrease from the previous period.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      Period ending March 2026	256,228	(2.5)	34,479	49.7	35,770	52.3	26,772	53.5
      Period ending March 2025	262,732	33.1	23,037	111.8	23,479	97.0	17,443	92.0

      (Note) Comprehensive income Period ending March 2026 31,226 Million yen 76.5%

      Period ending March 2025 17,687 Million yen 27.3%

      	Profit per share	Diluted Profit per share	Equity capital vs. profit ratio	Total asset vs. Ordinary profit ratio	Net sales vs. Operating profit ratio
      	Yen Sen	Yen Sen	%	%	%
      Period ending March 2026	207.33	-	22.5	16.0	13.5
      Period ending March 2025	135.61	-	17.4	12.5	8.8

      (Reference) Income from investment in affiliates (Equity method) Period ending March 2026 － Million yen

      Period ending March 2025 135 Million yen

      (Note) The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026. "Profit per share" is calculated assuming that the stock split was executed at the beginning of the previous consolidated accounting year.

   2. Consolidated financial position

      	Total assets	Net assets	Equity capital ratio	Net assets per share
      	Million yen	Million yen	%	Yen Sen
      Period ending March 2026	232,074	132,879	56.2	1,008.47
      Period ending March 2025	215,309	109,206	49.7	831.82

      (Reference) Equity capital Period ending March 2026 130,473 Million yen

      Period ending March 2025 107,020 Million yen

      (Note) The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026. "Net assets per share" is calculated assuming that the stock split was executed at the beginning of the previous consolidated accounting year.

   3. Consolidated cash flows

   	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at end of period
   	Million yen	Million yen	Million yen	Million yen
   Period ending March 2026	58,437	415	(28,502)	81,925
   Period ending March 2025	12,402	(832)	16,044	50,552

2. Dividends

   	Annual dividends per share
   	End of first quarter	End of second quarter	End of third quarter	Period end	Through year
   	Yen Sen	Yen Sen	Yen Sen	Yen Sen	Yen Sen
   Period ending March 2025	-	52.00	-	111.00	163.00
   Period ending March 2026	-	82.00	-	56.00	-
   Period ending March 2027 (Forecast)	-	42.00	-	43.00	85.00

   (Note) The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026. Dividends before the second quarter of the fiscal year ending March 31, 2026, are the actual dividend amount before the stock split. The period end dividend for the period ending March 31, 2026 shown in the table above reflects the effect of the stock split, and the total annual dividend is shown as "―".

   Without considering the stock split, the Company plans to pay a period end dividend of 168 yen per share for the fiscal year ending March 31, 2026.

3. Estimate of consolidated performance for the period ending March 2027 (From April 1, 2026, to March 31, 2027)

   (Percentage indications show increase or decrease from the previous period.)

   	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Profit per share
   Total period	Mil. yen	%	Mil. yen	%	Mil. yen	%	Mil. yen	%	Yen	Sen
   	265,000	3.4	36,000	4.4	36,500	2.0	27,300	2.0	211.42

   (Reference) Estimated net sales of construction contract orders 360,000 Million yen

   • Annotations

     1. Changes in key subsidiaries in the period (changes in specific subsidiaries requiring changes of consolidation scope): None

     2. Changes in accounting policies, changes in accounting estimates, restatement

        ➀ Changes in accounting policies due to revision of accounting standards, etc.: None

        ➁ Changes in accounting policies other than ➀: None

        ➂ Changes in accounting estimates: Yes

        ➃ Restatement: None

        (Note) For details, please see "1. Consolidated Financial Statements and Major Notes (5) Annotation Items Concerning Consolidated Financial Statements (Changes in accounting estimates)" on page 10 of the attachments.

     3. Number of issued shares (common stock)

(Note) 1 The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026.

"Number of issued shares at the end of period," "Number of treasury shares at the end of period" and "Average numbers of shares in the period" are calculated assuming that the stock split was executed at the beginning of the previous consolidated accounting year.

2 The number of treasury shares at the end of the period includes the Company's shares held in the BIP Trust for Directors (977,724 shares for the period ending March 2025, 813,042 shares for the period ending March 2026. In addition, the Company's shares held in the BIP Trust for Directors (603,591 for the period ending March 2025, 855,416 shares for the period ending March 2026) are also included in treasury shares, which is deducted in the calculation of the average number of shares outstanding during the period.

(Reference) Estimate of individual performance

1. Individual business results for the period ending March 2026 (From April 1, 2025 to March 31, 2026)

   1. Individual management performance (Percentage indications show increase or decrease from the previous period.)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      	Million yen	%	Million yen	%	Million yen	%	Million yen	%
      Period ending March 2026	229,352	(7.8)	33,808	47.0	35,154	51.1	26,289	50.1
      Period ending March 2025	248,681	33.0	22,998	117.5	23,272	102.1	17,508	99.0

      	Profit per share	Diluted Profit per share
      	Yen Sen	Yen Sen
      Period ending March 2026	203.59	-
      Period ending March 2025	136.11	-

      (Note) The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026. "Profit per share" is calculated assuming that the stock split was executed at the beginning of the previous fiscal year.

   2. Individual financial position

   	Total assets	Net assets	Equity capital ratio	Net assets per share
   	Million yen	Million yen	%	Yen Sen
   Period ending March 2026	206,566	120,989	58.6	935.16
   Period ending March 2025	195,721	101,727	52.0	790.67

   (Reference) Equity capital Period ending March 2026 120,989 Million yen

   Period ending March 2025 101,727 Million yen

   (Note) The Company conducted a 3-for-1 stock split of shares of common stock, with an effective date of January 1, 2026. "Net assets per share" is calculated assuming that the stock split was executed at the beginning of the previous fiscal year.

2. Estimate of individual performance for the period ending March 2027 (From April 1, 2026 to March 31, 2027)

   (Percentage indications show increase or decrease from the previous period.)

   	Net sales		Operating profit		Ordinary profit		Profit		Profit per share
   Total period	Mil. yen	%	Mil. yen	%	Mil. Yen	%	Mil. yen	%	Yen Sen
   	240,000	4.6	35,500	5.0	36,000	2.4	27,000	2.7	209.09

   (Reference) Estimated net sales of construction contract orders 325,000 Million yen

   • Brief report on 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

(Caution regarding forward-looking statements and others)

The forward-looking statements disclosed herein 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.

(How to obtain supplementary explanatory materials for quarterly financial results)

Supplementary explanatory materials for financial results will be available on the Company's website.

Contents of Information

1. Consolidated Financial Statements and Major Notes 2

   1. Consolidated Balance Sheets 2

   2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income 4

      (Consolidated Statements of Income) 4

      (Consolidated Statements of Comprehensive Income) 5

   3. Consolidated Statements of Changes in Equity 6

   4. Consolidated Statements of Cash Flows 8

   5. Annotation Items Concerning Consolidated Financial Statements 10

      (Notes to Going Concern Assumption) 10

      (Changes in accounting estimates) 10

2. Individual Financial Statements and Major Notes 11

   1. Balance Sheets 11

   2. Statements of Income 14

   3. Statements of Changes in Equity 15

3. Supplementary Information 17

Divisional net sales of construction contract orders received, completed construction contracts, and uncompleted construction contracts 17

1. ‌Consolidated Financial Statements and Major Notes‌

   1. Consolidated Balance Sheets

      		(Millions of yen)
      Previous Consolidated Accounting Year (As of March 31, 2025)		Current Consolidated Accounting Year (As of March 31, 2026)
      Assets
      Current assets
      Cash and deposits	51,761	83,204
      Notes receivable, accounts receivable from completed construction contracts and other	90,747	78,218
      Electronically recorded monetary claims - operating	11,267	7,551
      Costs on construction contracts in progress	892	1,003
      Other	10,849	5,920
      Allowance for doubtful accounts	(192)	(288)
      Total current assets	165,326	175,610
      Non-current assets
      Property, plant and equipment
      Buildings and structures	10,906	11,551
      Accumulated depreciation	(4,802)	(5,262)
      Buildings and structures, net	6,103	6,289
      Machinery, equipment and vehicles	594	627
      Accumulated depreciation	(321)	(382)
      Machinery, equipment and vehicles, net	273	245
      Tools, furniture and fixtures	915	954
      Accumulated depreciation	(629)	(614)
      Tools, furniture and fixtures, net	286	340
      Land	1,280	1,280
      Construction in progress	8	955
      Total property, plant and equipment	7,952	9,111
      Intangible assets
      Goodwill	1,607	1,523
      Customer-related intangible assets	2,675	2,361
      Other	1,526	1,539
      Total intangible assets	5,809	5,425
      Investments and other assets
      Investment securities	17,116	16,636
      Retirement benefit asset	16,996	22,347
      Other	2,212	3,047
      Allowance for doubtful accounts	(105)	(105)
      Total investments and other assets	36,220	41,926
      Total non-current assets	49,982	56,463
      Total assets	215,309	232,074

      		(Millions of yen)
      Previous Consolidated Accounting Year (As of March 31, 2025)		Current Consolidated Accounting Year (As of March 31, 2026)
      Liabilities
      Current liabilities
      Notes payable, accounts payable for construction contracts	28,222	28,334
      Electronically recorded obligations - operating	5,479	-
      Short-term borrowings	22,927	2,801
      Income taxes payable	5,445	8,196
      Advances received on construction contracts in progress	6,937	10,646
      Provision for share awards	104	113
      Provision for warranties for completed construction	114	164
      Provision for loss on construction contracts	1,218	196
      Deposits received	19,673	16,529
      Other	10,399	25,368
      Total current liabilities	100,523	92,351
      Non-current liabilities
      Long-term borrowings	675	720
      Deferred tax liabilities	3,882	4,623
      Retirement benefit liability	967	909
      Long-term accounts payable - other	2	2
      Asset retirement obligations	-	456
      Other	49	130
      Total non-current liabilities	5,578	6,843
      Total liabilities	106,102	99,195
      Net assets
      Shareholders' equity
      Share capital	4,479	4,479
      Capital surplus	5,349	5,959
      Retained earnings	88,503	106,849
      Treasury shares	(3,578)	(3,251)
      Total shareholders' equity	94,754	114,036
      Accumulated other comprehensive income
      Valuation difference on available-for-sale securities	7,443	7,834
      Foreign currency translation adjustment	512	1,005
      Remeasurements of defined benefit plans	4,309	7,597
      Total accumulated other comprehensive income	12,265	16,436
      Non-controlling interests	2,186	2,405
      Total net assets	109,206	132,879
      Total liabilities and net assets	215,309	232,074

   2. ‌ Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (Consolidated Statements of Income)‌

      		(Millions of yen)
      Previous Consolidated Accounting Year (From April 1, 2024 to March 31, 2025)		Current Consolidated Accounting Year (From April 1, 2025 to March 31, 2026)
      Net sales of completed construction contracts	262,732	256,228
      Cost of sales of completed construction contracts	221,382	200,144
      Gross profit on completed construction contracts	41,349	56,083
      Selling, general and administrative expenses	18,312	21,604
      Operating profit	23,037	34,479
      Non-operating income
      Interest income	18	125
      Dividend income	391	455
      Insurance fee income	150	181
      Foreign exchange gains	-	582
      Share of profit of entities accounted for using equity method	135	-
      Rental income from real estate	34	34
      Other	59	104
      Total non-operating income	789	1,483
      Non-operating expenses
      Interest expenses	240	106
      Guarantee commission	3	12
      Rental expenses on real estate	11	12
      Foreign exchange losses	66	-
      Commitment fees	20	19
      Other	5	41
      Total non-operating expenses	347	192
      Ordinary profit	23,479	35,770
      Extraordinary income
      Gain on sale of non-current assets	10	4
      Gain on sales of investment securities	1,140	2,175
      Reversal of allowance for doubtful accounts	-	0
      Gain on reversal of asset retirement obligations	63	-
      Gain on extinguishment of tie-in shares	-	113
      Total extraordinary income	1,214	2,294
      Extraordinary losses
      Impairment losses	336	-
      Loss on sale of non-current assets	-	2
      Loss on retirement of non-current assets	5	2
      Loss on valuation of investment securities	148	570
      Loss on step acquisitions	241	-
      Total extraordinary losses	731	574
      Profit before income taxes	23,963	37,490
      Income taxes - current	7,372	11,516
      Income taxes - deferred	(917)	(967)
      Total income taxes	6,454	10,548
      Profit	17,508	26,941
      Profit (loss) attributable to non-controlling interests	64	168
      Profit attributable to owners of parent	17,443	26,772

      ‌(Consolidated Statements of Comprehensive Income)

      		(Millions of yen)
      Previous Consolidated Accounting Year (From April 1, 2024 to March 31, 2025)		Current Consolidated Accounting Year (From April 1, 2025 to March 31, 2026)
      Profit	17,508	26,941
      Other comprehensive income
      Valuation difference on available-for-sale securities	(310)	391
      Foreign currency translation adjustment	479	605
      Remeasurements of defined benefit plans	195	3,287
      Share of other comprehensive income of entities accounted for using equity method	(183)	-
      Total other comprehensive income	179	4,284
      Comprehensive income	17,687	31,226
      Comprehensive income attributable to
      Comprehensive income attributable to owners of parent	17,532	30,943
      Comprehensive income attributable to non-controlling interests	155	282

   3. ‌Consolidated Statements of Changes in Equity

      Previous Consolidated Accounting Year (From April 1, 2024 to March 31, 2025)

      (Millions of yen)
      	Shareholders' equity
      	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
      Balance at beginning of period	4,479	4,837	75,360	(3,099)	81,577
      Changes during period
      Dividends of surplus			(4,299)		(4,299)
      Profit attributable to owners of parent			17,443		17,443
      Purchase of treasury shares				(725)	(725)
      Disposal of treasury shares		512		246	758
      Change in scope of consolidation					-
      Net changes in items other than shareholders' equity
      Total changes during period	-	512	13,143	(478)	13,177
      Balance at end of period	4,479	5,349	88,503	(3,578)	94,754

      	Accumulated other comprehensive income				Non-controlling interests	Total net assets
      	Valuation difference on available-for-sale securities	Foreign currency translation adjustment	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
      Balance at beginning of period	7,754	308	4,114	12,177	232	93,987
      Changes during period
      Dividends of surplus						(4,299)
      Profit attributable to owners of parent						17,443
      Purchase of treasury shares						(725)
      Disposal of treasury shares						758
      Change in scope of consolidation						-
      Net changes in items other than shareholders' equity	(310)	204	195	88	1,953	2,041
      Total changes during period	(310)	204	195	88	1,953	15,219
      Balance at end of period	7,443	512	4,309	12,265	2,186	109,206

      Current Consolidated Accounting Year (From April 1, 2025 to March 31, 2026)

      (Millions of yen)
      	Shareholders' equity
      	Share capital	Capital surplus	Retained earnings	Treasury shares	Total shareholders' equity
      Balance at beginning of period	4,479	5,349	88,503	(3,578)	94,754
      Changes during period
      Dividends of surplus			(8,355)		(8,355)
      Profit attributable to owners of parent			26,772		26,772
      Purchase of treasury shares				(1)	(1)
      Disposal of treasury shares		610		327	937
      Change in scope of consolidation			(72)		(72)
      Net changes in items other than shareholders' equity
      Total changes during period	-	610	18,345	326	19,282
      Balance at end of period	4,479	5,959	106,849	(3,251)	114,036

      	Accumulated other comprehensive income				Non-controlling interests	Total net assets
      	Valuation difference on available-for-sale securities	Foreign currency translation adjustment	Remeasurements of defined benefit plans	Total accumulated other comprehensive income
      Balance at beginning of period	7,443	512	4,309	12,265	2,186	109,206
      Changes during period
      Dividends of surplus						(8,355)
      Profit attributable to owners of parent						26,772
      Purchase of treasury shares						(1)
      Disposal of treasury shares						937
      Change in scope of consolidation						(72)
      Net changes in items other than shareholders' equity	391	492	3,287	4,171	219	4,390
      Total changes during period	391	492	3,287	4,171	219	23,672
      Balance at end of period	7,834	1,005	7,597	16,436	2,405	132,879

   4. Consolidated Statements of Cash Flows

      		(Millions of yen)
      Previous Consolidated Accounting Year (From April 1, 2024 to March 31, 2025)		Current Consolidated Accounting Year (From April 1, 2025 to March 31, 2026)
      Cash flows from operating activities
      Profit before income taxes	23,963	37,490
      Depreciation	1,060	1,429
      Amortization of goodwill	36	147
      Increase (decrease) in allowance for doubtful accounts	36	95
      Increase (decrease) in retirement benefit liability	(29)	(22)
      Interest and dividend income	(410)	(580)
      Interest expenses	240	106
      Share of loss (profit) of entities accounted for using equity method	(135)	-
      Loss (gain) on step acquisitions	241	-
      Loss (gain) on extinguishment of tie-in shares	-	(113)
      Loss (gain) on valuation of investment securities	148	570
      Loss (gain) on sale of investment securities	(1,140)	(2,175)
      Loss (gain) on sale of non-current assets	(10)	(2)
      Loss on retirement of non-current assets	5	2
      Impairment losses	336	-
      Gain on reversal of asset retirement obligations	(63)	-
      Decrease (increase) in trade receivables	(7,976)	16,409
      Decrease (increase) in costs on construction contracts in progress	(140)	(47)
      Decrease (increase) in other current assets	(7,546)	4,679
      Decrease (increase) in other non-current assets	138	625
      Decrease (increase) in retirement benefit asset	(740)	(586)
      Increase (decrease) in trade payables	(3,308)	(5,371)
      Increase (decrease) in advances received on construction contracts in progress	1,455	3,679
      Increase (decrease) in deposits received	9,778	(3,144)
      Increase (decrease) in other current liabilities	1,827	13,640
      Increase (decrease) in other non-current liabilities	5	80
      Subtotal	17,769	66,912
      Interest and dividends received	403	538
      Interest paid	(258)	(94)
      Income taxes refund (paid)	(5,511)	(8,918)
      Net cash provided by (used in) operating activities	12,402	58,437

      		(Millions of yen)
      Previous Consolidated Accounting Year (From April 1, 2024 to March 31, 2025)		Current Consolidated Accounting Year (From April 1, 2025 to March 31, 2026)
      Cash flows from investing activities
      Proceeds from withdrawal of time deposits	30	377
      Payments into time deposits	(30)	(375)
      Purchase of property, plant and equipment	(342)	(800)
      Proceeds from sale of property, plant and equipment	10	9
      Purchase of investment securities	(7)	(950)
      Proceeds from sale of investment securities	1,316	3,206
      Purchase of shares of subsidiaries resulting in change in scope of consolidation	(1,192)	-
      Other payments	(676)	(1,124)
      Other proceeds	58	73
      Net cash provided by (used in) investing activities	(832)	415
      Cash flows from financing activities
      Proceeds from short-term borrowings	51,800	15,700
      Repayments of short-term borrowings	(31,836)	(35,865)
      Proceeds from long-term borrowings	1,100	800
      Repayments of long-term borrowings	(717)	(718)
      Purchase of treasury shares	(725)	(1)
      Proceeds from sale of treasury shares	724	-
      Dividends paid	(4,299)	(8,355)
      Dividends paid to non-controlling interests	-	(62)
      Net cash provided by (used in) financing activities	16,044	(28,502)
      Effect of exchange rate change on cash and cash equivalents	272	709
      Net increase (decrease) in cash and cash equivalents	27,886	31,059
      Cash and cash equivalents at beginning of period	22,665	50,552
      Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation	-	141
      Increase in cash and cash equivalents resulting from merger with unconsolidated subsidiaries	-	172
      Cash and cash equivalents at end of period	50,552	81,925

   5. ‌Annotation Items Concerning Consolidated Financial Statements (Notes to Going Concern Assumption)

None

‌(Changes in accounting estimates)

(Changes in Accounting-based Estimates for Asset Retirement Obligations)

The Group has an obligation to restore the premises to the Company's original condition upon the termination of business operations or upon vacating the premises for branches and other offices that use office space under real estate lease agreements. However, because the useful life of the leased asset related to this liability was unclear, we had not recognized an asset retirement obligation corresponding to this liability.

During the previous consolidated accounting year, we began reviewing our policy regarding the renewal of lease agreements for our major locations. During the current consolidated accounting year, due to the acquisition of new information, the Company changed its estimates for expected restoration costs and expected usage period.

As a result of this change, 456 million yen was added to asset retirement obligations.

The impact of the changes in the estimate on profit and loss in the current consolidated fiscal year is immaterial.

1. ‌Individual Financial Statements and Major Notes‌

   1. Balance Sheets

      		(Millions of yen)
      Previous Fiscal Year (As of March 31, 2025)		Current Fiscal Year (As of March 31, 2026)
      Assets
      Current assets
      Cash and deposits	43,494	74,469
      Notes receivable - trade	101	49
      Electronically recorded monetary claims - operating	11,099	7,460
      Accounts receivable from completed construction contracts	82,157	68,361
      Costs on construction contracts in progress	688	818
      Prepaid expenses	26	15
      Advances paid	419	692
      Other	9,172	3,387
      Allowance for doubtful accounts	(132)	(224)
      Total current assets	147,025	155,031
      Non-current assets
      Property, plant and equipment
      Buildings	10,626	11,239
      Accumulated depreciation	(4,599)	(5,047)
      Buildings, net	6,026	6,191
      Structures	237	267
      Accumulated depreciation	(165)	(175)
      Structures, net	72	92
      Machinery and equipment	403	425
      Accumulated depreciation	(196)	(241)
      Machinery and equipment, net	206	184
      Vehicles	120	127
      Accumulated depreciation	(72)	(82)
      Vehicles, net	48	44
      Tools, furniture and fixtures	840	873
      Accumulated depreciation	(568)	(544)
      Tools, furniture and fixtures, net	272	328
      Land	1,280	1,280
      Construction in progress	8	955
      Total property, plant and equipment	7,915	9,076
      Intangible assets
      Software	1,094	1,335
      Other	412	168
      Total intangible assets	1,507	1,503

      		(Millions of yen)
      Previous Fiscal Year (As of March 31, 2025)		Current Fiscal Year (As of March 31, 2026)
      Investments and other assets
      Investment securities	16,431	16,055
      Shares of subsidiaries and associates	9,936	10,187
      Long-term loans receivable from employees	0	-
      Long-term loans receivable from subsidiaries and associates	614	595
      Long-term prepaid expenses	-	600
      Guarantee deposits	829	1,469
      Distressed receivables	2	2
      Prepaid pension costs	10,899	11,485
      Golf club membership	573	572
      Other	89	88
      Allowance for doubtful accounts	(103)	(103)
      Total investments and other assets	39,273	40,954
      Total non-current assets	48,696	51,535
      Total assets	195,721	206,566
      Liabilities
      Current liabilities
      Notes payable - trade	1	-
      Electronically recorded obligations - operating	5,479	-
      Accounts payable for construction contracts	22,975	22,648
      Short-term loans payable	22,200	2,100
      Current portion of long-term borrowings	664	701
      Accounts payable - other	2,226	2,894
      Accrued expenses	6,374	9,691
      Income taxes payable	5,308	7,979
      Accrued consumption taxes	215	11,120
      Advances received on construction contracts in progress	3,125	7,426
      Deposits received	19,664	16,525
      Deposits received from employees	928	930
      Provision for share awards	104	113
      Provision for warranties for completed construction	113	93
      Provision for loss on construction contracts	1,196	166
      Other	2	2
      Total current liabilities	90,580	82,394
      Non-current liabilities
      Long-term loans payable	675	720
      Deferred tax liabilities	1,544	782
      Provision for retirement benefits	1,142	1,114
      Long-term accounts payable - other	2	2
      Asset retirement obligations	-	456
      Other	47	105
      Total non-current liabilities	3,413	3,182
      Total liabilities	93,994	85,577

      		(Millions of yen)
      Previous Fiscal Year (As of March 31, 2025)		Current Fiscal Year (As of March 31, 2026)
      Net assets
      Shareholders' equity
      Share capital	4,479	4,479
      Capital surplus
      Legal capital surplus	4,716	4,716
      Other capital surplus	693	1,303
      Total capital surplus	5,409	6,019
      Retained earnings
      Legal retained earnings	1,119	1,119
      Other retained earnings
      Reserve for tax purpose reduction entry of non-current assets	23	20
      General reserve	29,720	29,720
      Retained earnings brought forward	57,108	75,046
      Total retained earnings	87,972	105,906
      Treasury shares	(3,578)	(3,251)
      Total shareholders' equity	94,283	113,154
      Valuation and translation adjustments
      Valuation difference on available-for-sale securities	7,443	7,834
      Total valuation and translation adjustments	7,443	7,834
      Total net assets	101,727	120,989
      Total liabilities and net assets	195,721	206,566

   2. ‌Statements of Income

      		(Millions of yen)
      Previous Fiscal Year (From April 1, 2024 to March 31, 2025)		Current Fiscal Year (From April 1, 2025 to March 31, 2026)
      Net sales of completed construction contracts	248,681	229,352
      Cost of sales of completed construction contracts	208,302	175,478
      Gross profit on completed construction contracts	40,378	53,873
      Selling, general and administrative expenses	17,379	20,065
      Operating profit	22,998	33,808
      Non-operating income
      Interest income	16	73
      Dividend income	391	601
      Rental income from real estate	150	181
      Insurance fee income	-	582
      Foreign exchange gains	34	34
      Other	35	68
      Total non-operating income	628	1,542
      Non-operating expenses
      Interest expenses	241	108
      Guarantee commission	3	12
      Rental expenses on real estate	11	12
      Foreign exchange losses	72	-
      Commitment Fees	20	19
      Other	5	41
      Total non-operating expenses	354	195
      Ordinary profit	23,272	35,154
      Extraordinary income
      Gain on sale of non-current assets	10	4
      Gain on sale of investment securities	1,140	2,175
      Reversal of allowance for doubtful accounts	-	0
      Gain on reversal of asset retirement obligations	63	-
      Gain on extinguishment of tie-in shares	-	113
      Total extraordinary income	1,214	2,294
      Extraordinary losses
      Impairment losses	336	-
      Loss on sale of non-current assets	-	2
      Loss on retirement of non-current assets	5	2
      Loss on valuation of investment securities	148	570
      Loss on valuation of shares of subsidiaries and associates	-	245
      Total extraordinary losses	489	820
      Profit before income taxes	23,997	36,629
      Income taxes - current	7,299	11,282
      Income taxes - deferred	(810)	(942)
      Total income taxes	6,488	10,339
      Profit	17,508	26,289

   3. ‌Statements of Changes in Equity

Previous Fiscal Year (From April 1, 2024 to March 31, 2025)

(Millions of yen)

Current Fiscal Year (From April 1, 2025 to March 31, 2026)

(Millions of yen)

‌2. Supplementary Information‌

Divisional net sales of construction contract orders received, completed construction contracts, and uncompleted construction contracts (consolidated)

(Millions of yen)

(Note) Industrial facilities and Overseas operations, Renovations are aggregated for each type of construction. These includes duplicated construction.

Divisional net sales of construction contract orders received, completed construction contracts, and uncompleted construction contracts (individual)

(Millions of yen)

(Note) Industrial facilities and Overseas operations, Renovations are aggregated for each type of construction. These includes duplicated construction.