Consolidated Financial Results for the Nine Months Ended December 31, 2024

Feb 12, 2025 at 7:56 AM UTC · Issued by Oriental Shiraishi Corporation

(Percentages indicate year-on-yearchanges.)

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

	Consolidated Financial Results
	for the Nine Months Ended December 31, 2024
	[Under Japanese GAAP]
	February 12, 2025
Company name:	Oriental Shiraishi Corporation
Listing:	Tokyo Stock Exchange
Securities code:	1786
URL:	https://www.orsc.co.jp/english/
Representative:	Tatsuya Ohno, President and CEO
Inquiries:	Yukihiko Hashimoto, Director; General Manager, Administration Division
Telephone:	+81-3-6220-0630

Scheduled date to commence dividend payments:	-
Preparation of supplementary material on financial results:	None
Holding of financial results briefing:	None

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2024 (from April 1, 2024 to December 31, 2024)

(1) Consolidated operating results (cumulative)

						Net sales			Operating profit		Ordinary profit		Profit attributable to
										owners of parent

	Nine months ended		Million yen	%	Million yen	%		Million yen	%		Million yen	%
	December 31, 2024				50,112	1.7		5,366	5.9		5,476	6.5		3,727	6.4
	December 31, 2023				49,295	14.5		5,069	28.7		5,143	24.6		3,504	24.8
Note:	Comprehensive income:	For nine months ended December 31, 2024: ¥3,975 million [4.4%]
						For nine months ended December 31, 2023: ¥3,809 million [33.2%]

					Basic earnings		Diluted earnings
						per share			per share
	Nine months ended					Yen			Yen
	December 31, 2024					28.13			－
	December 31, 2023					27.19			－
Note:	Diluted earnings per share are not indicated as there are no potential shares.
(2) Consolidated financial position
						Total assets		Net assets	Equity-to-asset ratio	Net assets per share

	As of						Million yen	Million yen		%		Yen
	December 31, 2024					75,077		51,937		69.2		391.89
	March 31, 2024					72,923		49,962		68.5		377.12
Reference: Equity:	As of December 31, 2024:	¥51,937 million
			As of March 31, 2024:	¥49,962 million

2. Cash dividends

			Annual dividends per share

		First quarter-end	Second quarter-end		Third quarter-end		Fiscal year-end
							Yen
Fiscal year ended		Yen	Yen		Yen
	-	6.50		-		8.00
March 31, 2024

Fiscal year ending		-	7.00		-

March 31, 2025

Fiscal year ending							7.50
March 31, 2025
(forecast)

Total

Yen 14.50

14.50

Note: Revisions to the forecasts of cash dividends most recently announced: None

3. Consolidated financial results forecast for the fiscal year ending March 31, 2025 (from April 1, 2024 to March 31, 2025)

(Percentages indicate year-on-year changes.)

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

	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	65,000	(3.5)	5,000	(23.5)	5,000	(24.0)	3,500	(24.5)	26.41

Note: Revisions to the forecasts of financial results most recently announced: Yes

For details of the consolidated financial results forecast for the fiscal year ending March 31, 2025, please refer to "Notice Concerning Revision of Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2025" announced on February 12, 2025.

* Notes

Significant changes in the scope of consolidation during the period: None
Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
Changes in accounting policies, changes in accounting estimates, and restatement
1. Changes in accounting policies due to revisions to accounting standards and other regulations: Yes
2. Changes in accounting policies due to other reasons: None
3. Changes in accounting estimates: None
4. Restatement: None
Number of issued shares (common shares)
1. Total number of issued shares at the end of the period (including treasury shares)

As of December	31, 2024	138,809,400 shares
As of March 31,	2024	138,809,400 shares

(ii) Number of treasury shares at the end of the period

As of December	31, 2024	6,278,252 shares
As of March 31,	2024	6,323,033 shares

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

Nine months ended December 31, 2024	132,510,187 shares
Nine months ended December 31, 2023	128,882,673 shares

Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: Yes (voluntary)
Proper use of earnings forecasts, and other special matters
Financial results forecast and other forward-looking statements presented herein are based on the information the Company currently possesses and the assumptions it deems reasonable. Actual outcomes, etc. may diverge significantly from them due to wide-ranging factors.

(1) Quarterly Consolidated Balance Sheets

				(Million yen)

			As of March 31, 2024	As of December 31, 2024

Assets
Current assets
Cash and deposits	20,230	19,749
Notes receivable, accounts receivable from	30,845	34,951
completed construction contracts and other

Costs on construction contracts in progress	1,408	1,116
Raw materials and supplies	343	303
Advances paid	1,542	1,737
Consumption taxes refund receivable	2,043	83
Other	618	759
Allowance for doubtful accounts		(2)	(3)
Total current assets	57,029	58,697
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,765	1,831
Machinery and equipment, net	2,427	2,317
Land	5,189	5,189
Construction in progress	691	1,147
Other, net		241	246
Total property, plant and equipment	10,314	10,733
Intangible assets
Goodwill	991	884
Software	341	205
Other	7	18
Total intangible assets			1,340	1,109
Investments and other assets
Investment securities	3,666	3,977
Retirement benefit asset	38	40
Deferred tax assets	199	189
Other	378	372
Allowance for doubtful accounts		(44)	(41)
Total investments and other assets	4,239	4,538
Total non-current assets			15,894	16,380
Total assets		72,923	75,077

(Million yen)

As of March 31, 2024

As of December 31, 2024

Liabilities

Current liabilities

Notes payable, accounts payable for construction contracts

Short-term borrowings

Current portion of long-term borrowings

Accounts payable - other

Income taxes payable

Accrued consumption taxes

Advances received on construction contracts in progress

Deposits received Provision for bonuses

Provision for loss on construction contracts Provision for warranties for completed

construction Other

Total current liabilities

Non-current liabilities

11,493		10,996
600	100
373	373
736	269
889	1,125
123	792

1,896	1,276
573	1,099
20	573
111	120

39	42
469	412
17,326	17,181

Long-term borrowings	2,538		2,858
Provision for share-based payments	159		204
Provision for special repairs	5		1
Retirement benefit liability	2,350		2,519
Deferred tax liabilities	391		299
Other		187		75
Total non-current liabilities	5,633		5,958
Total liabilities			22,960		23,139
Net assets
Shareholders' equity
Share capital	5,000		5,000
Capital surplus	2,072		2,072
Retained earnings	42,538		44,253
Treasury shares		(709)	(697)
Total shareholders' equity	48,901		50,628
Accumulated other comprehensive income
Valuation difference on available-for-sale			918		1,150
securities

Remeasurements of defined benefit plans		143		158
Total accumulated other comprehensive income	1,061		1,309
Total net assets			49,962		51,937
Total liabilities and net assets		72,923		75,077

Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statements of Income
Nine Months Ended December 31

			(Million yen)

		For the nine months ended	For the nine months ended
		December 31, 2023	December 31, 2024
Net sales
Net sales of completed construction contracts	49,295	50,112
Cost of sales
Cost of sales of completed construction contracts	39,596	40,339
Gross profit
Gross profit on completed construction contracts		9,699	9,773
Selling, general and administrative expenses	4,629	4,406
Operating profit		5,069	5,366

Non-operating income

Interest income

Dividend income

Patent royalties

Gain on sale of scraps

Other

Total non-operating income

Non-operating expenses

Interest expenses

Advances received deposits

Commission expenses

Other

Total non-operating expenses

Ordinary profit

Extraordinary income

Gain on sale of non-current assets

Other

Total extraordinary income

Extraordinary losses

Loss on retirement 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

3	4
75	97
56	31
32	15
29	35
198	184
11	11
44	21
26	16
40	25
124	74
5,143	5,476
12	－
－	1
12	1
－	37
－	37
5,156	5,440
1,691	1,906
(39)	(193)
1,651	1,712
3,504	3,727
－	－
3,504	3,727

Quarterly Consolidated Statements of Comprehensive Income

Nine Months Ended December 31

		(Million yen)

	For the nine months ended	For the nine months ended
	December 31, 2023	December 31, 2024
Profit	3,504	3,727
Other comprehensive income

Valuation difference on available-for-sale securities

Remeasurements of defined benefit plans, net of tax

Total other comprehensive income

Comprehensive income

Comprehensive income attributable to Comprehensive income attributable to owners of

parent

Comprehensive income attributable to non-controlling interests

268	232
36	15
304	247
3,809	3,975
3,809	3,975

－		－

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