Consolidated Financial Results for the Three Months Ended June 30,2022(Japanese GAAP)

Aug 18, 2022 at 3:33 AM UTC · Issued by Oriental Shiraishi Corporation

Disclaimer: This document is an English translation of a part 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 12, 2022

Company name: Oriental Shiraishi Corporation

Stock exchange listing: Tokyo Stock Exchange

Code number: 1786

URL: https://www.orsc.co.jp/english/

Representative: Tatsuya Ohno, President and CEO

Contact: Yukihiko Hashimoto, Director in Charge of Corporate Planning

Phone: +81-3-6220-0630

Scheduled date of filing quarterly securities report: August 12, 2022

Scheduled date of commencing dividend payments: -

Availability of supplementary explanatory materials on quarterly financial results: Not available

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		(% 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	12,613	△24.5	777	△50.5	884	△45.0		599	△45.2
	June 30, 2021	16,715	-	1,570	-	1,608	-		1,094	-
	(Note) Comprehensive	income: Three months	ended June 30, 2022:	¥ 627 million（△43.1%	）
		Three months ended June 30, 2021: ¥ 1,102 million （-%）

		Basic earnings	Diluted earnings
		per share	per share
	Three months ended		Yen		Yen
	June 30, 2022		5.16		-
	June 30, 2021		9.36		-

(Note) 1. Diluted earnings per share are not indicated as there are no potential shares.

(Note) 2. Percentage change figures from the previous corresponding period are not indicated for the three months ended June 30, 2021 as the Company began creating quarterly consolidated financial statements with the results for the first quarter of the fiscal year ended March 31, 2022.

(2) Consolidated Financial Position

	Total assets	Net assets	Equity ratio	Net assets per share
	Million yen	Million yen	%	Yen
As of June 30, 2022	59,677	38,331	64.2	329.96
As of March 31, 2022	60,952	38,989	64.0	335.63

(Reference) Equity: As of June 30, 2022: ¥38,331 million As of March 31, 2022: ¥38,989 million

2. Dividends

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

Fiscal year ended		Yen	Yen		Yen	Yen	Yen
	-	0.00		-	11.00	11.00
March 31, 2022

Fiscal year ending		-

March 31, 2023

Fiscal year ending
March 31, 2023				0.00		-	11.00	11.00
(forecast)

(Note) Revisions to dividend forecasts announced most recently: None

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

Full year	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
65,000	7.0	5,000	△5.8	5,000	△8.4	3,300	△12.7	28.37

(Note) Revisions to 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)

Newly included:	(Company name:	)
Excluded:	(Company name:	)

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: None

② Changes in accounting policies other than① above: None
③ Changes in accounting estimates: None
④ Retrospective restatement: None
Total 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, 2022:	122,498,436 shares
As of March 31, 2022:	122,498,436 shares

Total number of treasury shares at the end of the period:

As of June 30, 2022:	6,330,961 shares
As of March 31, 2022:	6,330,932 shares

Average number of shares during the period:

Three months ended June 30, 2022:	116,167,487 shares
Three months ended June 30, 2021:	116,857,445 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
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.

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	13,998	13,796
Notes receivable, accounts receivable from	29,496	27,940
completed construction contracts and other

Costs on construction contracts in progress			497	868
Raw materials and supplies	262	265
Advances paid	972	896
Consumption taxes refund receivable	94	223
Other	325	591
Allowance for doubtful accounts			△3	△3
Total current assets	45,645	44,579
Non-current assets
Property, plant and equipment
Buildings and structures, net	1,920	1,893
Machinery and equipment, net	2,228	2,138
Land	5,190	5,190
Construction in progress			120	57
Other, net	311	296
Total property, plant and equipment			9,771	9,575
Intangible assets
Goodwill			1,274	1,238
Software	676	638
Other	392	343
Total intangible assets			2,343	2,220
Investments and other assets
Investment securities	2,806	2,849
Retirement benefit asset	44	51
Deferred tax assets	54	118
Other	331	324
Allowance for doubtful accounts			△44	△43
Total investments and other assets	3,192	3,301
Total non-current assets			15,306	15,097
Total assets			60,952	59,677

					(Million yen)

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

Liabilities
Current liabilities
Notes payable, accounts payable for construction			9,130		7,165
contracts

Short-term borrowings	1,200	900
Current portion of long-term borrowings	658	658
Accounts payable - other	512	407
Income taxes payable	432	483
Accrued consumption taxes	629	37
Advances received on construction contracts in			1,773		3,349
progress

Deposits received	1,042	1,567
Provision for bonuses			15		616
Provision for loss on construction contracts	104	100
Provision for warranties for completed			68		69
construction

Other		334	220
Total current liabilities	15,901	15,575
Non-current liabilities
Long-term borrowings	3,199	2,998
Stock-based compensation allowance	65	72
Provision for special repairs	2	2
Retirement benefit liability	2,448	2,498
Deferred tax liabilities			289		142
Other		56	55
Total non-current liabilities	6,060	5,770
Total liabilities			21,962	21,346
Net assets
Shareholders' equity
Share capital	1,000	1,000
Capital surplus	453	453
Retained earnings			37,718		37,032
Treasury shares			△458		△458
Total shareholders' equity			38,713		38,027
Accumulated other comprehensive income
Valuation difference on available-for-sale			464		478
securities

Remeasurements of defined benefit plans			△188		△174
Total accumulated other comprehensive income	275	303
Total net assets			38,989	38,331
Total liabilities and net assets		60,952	59,677

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