Consolidated Financial Results for the Three Months Ended June 30, 2022

Aug 10, 2022 at 4:53 AM UTC · Issued by Matsui Construction Co., Ltd.

Disclaimer: This document is an English translation of the original document in Japanese and has been prepared solely for reference purposes. In the event of any discrepancy between this English translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results

for the Three Months Ended June 30, 2022

[Japanese GAAP]

August 10, 2022

Company name: MATSUI CONSTRUCTION CO., LTD.

Stock exchange listing: Tokyo Stock Exchange

Code number: 1810

URL: https://www.matsui-ken.co.jp/

Representative: Takahiro Matsui, President

Contact: Takanobu Miyashita, General Manager of Accounting Department, Administration Division

Phone: +81-3-3553-1151

Scheduled date of filing quarterly securities report: August 10, 2022

Scheduled date of commencing dividend payments: -

Availability of supplementary explanatory materials on quarterly financial results: None

Schedule of quarterly financial results briefing session: Not Scheduled

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30, 2022)

(1) Consolidated Operating Results (cumulative)	(% indicates changes from the previous corresponding period.)
	Net sales			Operating profit	Ordinary profit	Profit attributable to
			owners of parent

Three months ended	Million yen	%	Million yen	%	Million yen	%	Million yen	%
June 30, 2022	21,884	14.8		252	(58.3)	407	(45.7)	270	(46.9)
June 30, 2021	19,055	(15.8)		604	(44.7)	750	(39.5)	509	(40.4)

(Note) Comprehensive income: Three months ended June 30, 2022: ¥274 million [13.5%]
		Three months ended June 30, 2021: ¥241 million [(80.5)%]
	Basic earnings	Diluted
	earnings
	per share
	per share

Three months ended		Yen		Yen
June 30, 2022	9.13		-
June 30, 2021	16.68		-
(2) Consolidated Financial Position
		Total assets	Net assets	Equity ratio	Net assets per share

		Million yen		Million yen	%	Yen
As of June 30, 2022		69,139	42,680	61.7	1,440.90
As of March 31, 2022		68,428	42,879	62.7	1,447.62

(Reference) Equity: As of June 30, 2022: ¥42,680 million As of March 31, 2022: ¥42,879 million

2. Dividends

			Annual dividends

	1st quarter-end	2nd quarter-end		3rd quarter-end	Year-end	Total

	Yen	Yen		Yen	Yen	Yen
Fiscal year ended	-	8.00		-	16.00	24.00
March 31, 2022

Fiscal year ending	-
March 31, 2023

Fiscal year ending
March 31, 2023		10.50		-	10.50	21.00
(Forecast)

(Note) Revision to the forecast for dividends announced most recently: None

(Note) Breakdown of year-end dividends:

Fiscal year ended March 31, 2022: ordinary dividend of 8 yen and special dividend of 8 yen

Fiscal year ending March 31, 2023 (Forecast): ordinary dividend of 10.5 yen

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31, 2023)

(% indicates changes from the previous corresponding period.)

							Profit attributable	Basic
	Net sales		Operating profit	Ordinary profit	earnings
		to owners of parent
							per share

	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	85,000	3.1	1,900	(21.4)	2,200	(20.8)	1,500	(16.3)	50.64

(Note) Revision to the financial results forecast announced most recently: None

* Notes:

Changes in significant subsidiaries during the period under review: None (Changes in specified subsidiaries resulting in changes in scope of consolidation)
Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates and retrospective restatement
1. Changes in accounting policies due to the revision of accounting standards: Yes
2. Changes in accounting policies other than 1) above: None
3. Changes in accounting estimates: None
4. Retrospective restatement: None
Total number of issued and outstanding shares (common shares)
1. Total number of issued and outstanding shares at the end of the period (including treasury shares):

June 30, 2022:	30,580,000 shares
March 31, 2022:	30,580,000 shares
2) Total number of treasury shares at the end of the period:
June 30, 2022:	959,138 shares
March 31, 2022:	959,138 shares

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2022:	29,620,862 shares
Three months ended June 30, 2021:	30,520,862 shares

These quarterly consolidated financial results are outside the scope of quarterly review by certified public accountants or an audit firm.

Explanation of the proper use of financial results forecast and other notes
The forward-looking statements in this document concerning forecasting of performance etc. are based on currently available information and assumptions considered by the Company to be reasonable. Such statements are neither promises nor guarantees of future performance. The actual performance may be significantly different from the forecast due to various factors. Concerning assumptions used as a basis for forecasting business performance and precautionary statements when using the forecast of performance, please refer to "1. Qualitative Information on Quarterly Financial Results (3) Explanation of Consolidated Financial Results Forecast and Other Forward-looking Information" on page 2 of [the Attachment].

(Change in units for presenting amounts)

The amounts for account items and other matters shown in the Company's quarterly consolidated financial statements were previously presented in units of one thousand yen. However, the Company has made a change and decided to present these amounts in units of one million yen from this first quarter period under review. To facilitate comparison, the amounts for the previous fiscal year and for the first quarter of the previous fiscal year are also presented in units of one million yen in this document.

2. Quarterly Consolidated Financial Statements and Principal Notes

(1) Quarterly Consolidated Balance Sheets

					(Million yen)

			As of March 31, 2022	As of June 30, 2022

Assets
Current assets
Cash and deposits			13,285		15,260
Notes receivable, accounts receivable from	20,148		18,200
completed construction contracts and other

Electronically recorded monetary claims - operating			662		1,295
Securities	2,612		2,216
Costs on construction contracts in progress			1,871		1,715
Real estate for sale	0		0
Real estate for sale in process			1,434		1,563
Other inventories	238		278
Other			359		831
Total current assets	40,612		41,363
Non-current assets
Property, plant and equipment
Buildings and structures, net			5,858		5,781
Land	10,139		10,139
Other, net			428		424
Total property, plant and equipment	16,425		16,345
Intangible assets			192		178
Investments and other assets
Investment securities			9,352		9,330
Retirement benefit asset	1,206		1,274
Other			1,034		1,043
Allowance for doubtful accounts	(395)	(394)
Total investments and other assets			11,197		11,253
Total non-current assets	27,815		27,776
Total assets			68,428		69,139

(Million yen)

As of March 31, 2022

As of June 30, 2022

Liabilities

Current liabilities

Notes payable, accounts payable for construction10,32510,313 contracts and other

Electronically recorded obligations - operating

Income taxes payable

Advances received on construction contracts in progress

4,621	4,933
229	21
5,904	6,329

Provision for bonuses		625	317
Provision for loss on construction contracts	153	287
Other provisions		286	270
Other	583	1,050
Total current liabilities		22,730	23,524
Non-current liabilities
Retirement benefit liability		1,724	1,732
Other	1,093	1,201
Total non-current liabilities		2,817	2,934
Total liabilities	25,548	26,459
Net assets
Shareholders' equity
Share capital		4,000	4,000
Capital surplus	333	333
Retained earnings		36,166	35,963
Treasury shares	(692)	(692)
Total shareholders' equity		39,807	39,604
Accumulated other comprehensive income

Valuation difference on available-for-sale securities		3,291	3,278
Remeasurements of defined benefit plans	(219)	(202)
Total accumulated other comprehensive income		3,072	3,076
Total net assets	42,879	42,680
Total liabilities and net assets		68,428	69,139

This is an excerpt of the original content. To continue reading it, access the original document here.