Consolidated Financial Results for the Three Months Ended June 30, 2024

Aug 8, 2024 at 7:41 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 Three Months Ended June 30, 2024

[Under Japanese GAAP]

August 8, 2024

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,Head of 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 three months ended June 30, 2024 (from April 1, 2024 to June 30, 2024)

(1) Consolidated operating results (cumulative)

	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, 2024	16,936	8.6	2,116	96.7	2,142	91.3	1,438	85.5
June 30, 2023	15,592	23.6	1,076	38.5	1,119	26.6	775	29.3

Note:

Comprehensive income:

For three months ended June 30, 2024: ¥1,429 million [41.2%]

For three months ended June 30, 2023: ¥1,012 million [61.4%]

Basic earnings

Diluted earnings

per share

Three months ended

Yen

June 30, 2024

10.86

－

June 30, 2023

6.37

－

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

Yen

June 30, 2024

73,180

50,318

68.8

379.80

March 31, 2024

72,923

49,962

68.5

377.12

Reference: Equity:

As of June 30, 2024:

¥50,318 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	Total

	Yen	Yen	Yen	Yen	Yen
Fiscal year ended	-	6.50	-	8.00	14.50
March 31, 2024

Fiscal year ending	-
March 31, 2025

Fiscal year ending
March 31, 2025		7.00	-	7.50	14.50
(forecast)

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)	26.42

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

* 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 June 30, 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 June 30, 2024	6,323,188 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)

Three months ended June 30, 2024	132,486,291 shares
Three months ended June 30, 2023	121,673,193 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 June 30, 2024

Assets
Current assets
Cash and deposits		20,230		24,270
Notes receivable, accounts receivable from	30,845		29,178
completed construction contracts and other

Costs on construction contracts in progress		1,408		1,578
Raw materials and supplies	343		326
Advances paid		1,542		1,119
Consumption taxes refund receivable	2,043		19
Other		618		669
Allowance for doubtful accounts	(2)	(2)
Total current assets		57,029		57,159
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,765		1,796
Machinery and equipment, net		2,427		2,299
Land	5,189		5,189
Construction in progress		691		959
Other, net	241		231
Total property, plant and equipment		10,314		10,476
Intangible assets

Goodwill		991		955
Software	341		301
Other		7		19
Total intangible assets	1,340		1,276
Investments and other assets
Investment securities	3,666		3,638
Retirement benefit asset		38		38
Deferred tax assets	199		257
Other		378		376
Allowance for doubtful accounts	(44)	(43)
Total investments and other assets		4,239		4,267
Total non-current assets	15,894		16,020
Total assets		72,923		73,180

(Million yen)

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

As of March 31, 2024	As of June 30, 2024

11,493	9,357

600	600
373	373
736	845
889	930
123	374
1,896	3,341

Deposits received

Provision for bonuses

Provision for loss on construction contracts

Provision for warranties for completed construction

Other

Total current liabilities

Non-current liabilities

573	637
20	504
111	146
39	41

469	268
17,326	17,421

Long-term borrowings		2,538		2,444
Provision for share-based payments	159		175
Provision for special repairs		5		2
Retirement benefit liability	2,350		2,397
Deferred tax liabilities		391		231
Other	187		188
Total non-current liabilities		5,633		5,440
Total liabilities	22,960		22,861
Net assets
Shareholders' equity

Share capital		5,000		5,000
Capital surplus	2,072		2,072
Retained earnings		42,538		42,903
Treasury shares	(709)	(709)
Total shareholders' equity		48,901		49,266
Accumulated other comprehensive income

Valuation difference on available-for-sale		918		903
securities

Remeasurements of defined benefit plans	143		148
Total accumulated other comprehensive income		1,061		1,052
Total net assets	49,962		50,318
Total liabilities and net assets		72,923		73,180

Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income Three Months Ended June 30

		(Million yen)

	For the three months ended	For the three months ended
	June 30, 2023	June 30, 2024

Net sales
Net sales of completed construction contracts	15,592	16,936
Cost of sales
Cost of sales of completed construction contracts	12,741	13,380
Gross profit
Gross profit on completed construction contracts	2,851	3,556
Selling, general and administrative expenses	1,775	1,440
Operating profit	1,076	2,116
Non-operating income
Interest income	1	1
Dividend income	31	17
Patent royalties	14	6
Gain on sale of scraps	15	3
Other	7	19
Total non-operating income	71	48
Non-operating expenses

Interest expenses	4	3
Advances received deposits	17	9
Commission expenses	3	5
Other	2	4
Total non-operating expenses	27	22
Ordinary profit	1,119	2,142
Extraordinary income
Gain on sale of non-current assets	12	－
Total extraordinary income	12	－
Extraordinary losses
Loss on retirement of non-current assets	－	26
Total extraordinary losses	－	26
Profit before income taxes	1,132	2,116
Income taxes - current	322	891
Income taxes - deferred	33	(213)
Total income taxes	356	677
Profit	775	1,438
Profit attributable to non-controlling interests	－	－
Profit attributable to owners of parent	775	1,438

Quarterly Consolidated Statements of Comprehensive Income

Three Months Ended June 30

		(Million yen)

	For the three months ended	For the three months ended
	June 30, 2023	June 30, 2024

Profit	775	1,438
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

224	(14)
12	5
236	(9)
1,012	1,429

1,012	1,429

－	－

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