[Summary]Consolidated Financial Results for the Second Quarter Ended September 30,2021〔Japanese GAAP〕

This document has been translated from the Japanese original "Kessan Tanshin" disclosed at the Tokyo Stock Exchange on November 11, 2021 and prepared for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Consolidated Financial Results for the Second Quarter Ended September 30, 2021 〔Japanese GAAP〕

November 11, 2021

Company name : Kumagai Gumi Co., Ltd.

Stock exchange listings : Tokyo Stock Exchange, 1st Section

Securities code : 1861 URL : https://www.kumagaigumi.co.jp/

Representative : Yasunori Sakurano, President

Contact : Chihiro Nosaka, General Manager, Accounting Department, Administration Division

Tel. [phone]

Date of filing of quarterly securities report : November 11, 2021

Scheduled date of dividend payment : ―

Supplemental materials for quarterly financial results : Yes

Presentation on quarterly financial results : Yes

（Rounded down to the nearest million yen）

１．Consolidated Results for the Second Quarter Ended September 30, 2021 (April 1, 2021 - September 30, 2021)

（１） Consolidated Operating Results

（Percentage figures are changes from the same period in the previous fiscal year）

Net sales of completed

Operating income

Ordinary income

Profit attributable to

construction contracts

owners of parent

Million yen

％

Million yen

％

Million yen

％

Million yen

％

FY2021 2nd Quarter

189,555

(8.4)

8,708

(26.5)

9,130

(24.1)

6,259

(19.0)

FY2020 2nd Quarter

206,884

3.4

11,841

23.1

12,033

21.9

7,728

(2.2)

（Note） Comprehensive income

FY2021 2nd Quarter 5,610 million yen

(32.4)％

FY2020 2nd Quarter

8,295 million yen

13.0％

Basic earnings per share

Diluted earnings per share

Yen

Yen

FY2021 2nd Quarter

134.32

－

FY2020 2nd Quarter

165.86

－

（２） Consolidated Financial Position

Total assets

Net assets

Capital adequacy ratio

Net assets per share

Million yen

Million yen

％

Yen

FY2021 2nd Quarter

353,383

163,848

46.4

3,516.07

FY2020

379,573

163,835

43.2

3,516.07

（Reference） Owner's equity

FY2021 2nd Quarter

163,848 million yen

FY2020 163,835 million yen

２．Dividends

Annual cash dividends per share

End of 1st quarter

End of 2nd quarter

End of 3rd quarter

Year-end

Total

Yen

Yen

Yen

Yen

Yen

FY2020

―

―

―

120.00

120.00

FY2021

―

―

FY2021 （forecast）

―

120.00

120.00

（Note） Revision to the latest forecasts of cash dividends announced : None

３．Forecast of Consolidated Operating Results for FY2021 (April 1, 2021 - March 31, 2022)

（Percentage figures are changes from the same period in the previous fiscal year）

Net sales of completed

Operating income

Ordinary income

Profit attributable to

Basic earnings

construction contracts

owners of parent

per share

Million yen

％

Million yen

％

Million yen

％

Million yen

％

Yen

FY2021

451,000

0.2

27,000

(3.8)

27,400

(3.5)

18,600

3.8

399.15

（Note） Revision to the latest forecasts of consolidated operating results announced : None

※Basic earnings per share does not take into account the impact of the "Acquisition of Own Shares" and "Acquisition of Shares in the Stock Compensation Plan" announced today.

: Yes

: None

: None

: None

※ Notes

（1） Changes in significant subsidiaries during the period

（Changes in specified subsidiaries that resulted in a change in the scope of consolidation） : None

（2） Application of specific accounting for quarterly consolidated financial statements : None

（3） Changes in accounting policies, changes in accounting estimates, and retrospective restatements ① Changes in accounting policies due to the revision of the accounting standards

② Changes in accounting policies other than ①

③ Changes in accounting estimates

④ Retrospective restatements

（4） Number of shares issued (common stock)				（Shares）
① Number of shares issued at the end of the period (including treasury stocks)	FY2021 Q2	46,805,660	FY2020	46,805,660
② Number of treasury stocks at the end of the period	FY2021 Q2	205,671	FY2020	209,338
③ Average number of shares outstanding during the period	FY2021 Q2	46,599,069	FY2020 Q2	46,598,663
（quarterly cumulative total）

※ "Kessan Tanshin" is not subject to the quarterly review.

※ Explanation regarding the appropriate use of forecasts of operating results, and other specific comments

The financial forecast of operating results in this document are based on information available at present and logical assessments. Actual results may be materially different from expectations due to a variety of factors.

（Reference） Summery of Nonconsolidated Financial Results

（Rounded down to the nearest million yen）

１．Nonconsolidated Results for the First Quarter Ended September 30, 2021 (April 1, 2021 - September 30, 2021)
（１） Nonconsolidated Operating Results		（Percentage figures are changes from the same period in the previous fiscal year）
	Net sales of completed	Operating income	Ordinary income		Profit
	construction contracts
	Million yen	％	Million yen	％	Million yen		％		Million yen		％
FY2021 2nd Quarter	147,905	(11.6)	7,380	(28.1)	9,194		(19.1)		6,758		(12.4)
FY2020 2nd Quarter	167,345	4.2	10,269	32.0	11,371		38.2		7,717		38.3
	Basic earnings per share	Diluted earnings per share
		Yen		Yen
FY2021 2nd Quarter		144.71	－
FY2020 2nd Quarter		165.24	－
（２） Nonconsolidated Financial Position
	Total assets	Net assets	Capital adequacy ratio		Net assets per share
		Million yen		Million yen			％				Yen
FY2021 2nd Quarter		293,214		131,283			44.8				2,810.98
FY2020		316,659		131,287			41.5				2,811.32
（Reference） Owner's equity	FY2021 2nd Quarter 131,283 million yen	FY2020 131,287 million yen
２．Forecast of Nonconsolidated Operating Results for FY2021 (April 1, 2021 - March 31, 2022)
			（Percentage figures are changes from the same period in the previous fiscal year）
	Net sales of completed	Ordinary income	Profit			Basic earnings per share
	construction contracts
	Million yen	％	Million yen	％	Million yen		％				Yen
FY2021	344,000	(4.5)	22,600	(4.0)	15,800		5.0				338.31

（Note） Revision to the latest forecasts of nonconsolidated operating results announced : None

※Basic earnings per share does not take into account the impact of the "Acquisition of Own Shares" and "Acquisition of Shares in the Stock Compensation Plan" announced today.

１．Quarterly Consolidated Financial Statements

(１）Quarterly consolidated balance sheet

		(millions of yen）
	Prior Fiscal Year	Current 2nd Quarter
	（As of March 31, 2021）	（As of September 30, 2021）
Assets
Current assets
Cash and deposits	71,335	68,013
Notes receivable, accounts receivable from completed	197,175	181,284
construction contracts and other
Costs on construction contracts in progress	6,454	11,133
Accounts receivable - other	29,477	22,654
Other	7,554	3,282
Allowance for doubtful accounts	(226)	(42)
Total current assets	311,770	286,327
Non-current assets
Property, plant and equipment
Buildings and structures, net	7,491	8,006
Land	15,105	15,079
Other, net	3,061	2,892
Total property, plant and equipment	25,658	25,978
Intangible assets	558	652
Investments and other assets
Investment securities	29,711	28,076
Deferred tax assets	7,245	7,257
Other	4,807	5,271
Allowance for doubtful accounts	(177)	(181)
Total investments and other assets	41,587	40,424
Total non-current assets	67,803	67,055
Total assets	379,573	353,383

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		(millions of yen）
	Prior Fiscal Year	Current 2nd Quarter
	（As of March 31, 2021）	（As of September 30, 2021）
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts	84,610	64,395
and other
Electronically recorded obligations - operating	37,435	26,173
Short-term borrowings	4,161	3,215
Advances received on construction contracts in progress	11,929	21,290
Deposits received	34,622	35,966
Provision for warranties for completed construction	473	558
Provision for loss on construction contracts	156	124
Provision for contingent loss	1,482	115
Provision for bonuses	4,256	4,031
Other	11,475	7,598
Total current liabilities	190,604	163,470
Non-current liabilities
Long-term borrowings	7,728	8,600
Provision for share awards	140	150
Retirement benefit liability	16,644	16,734
Other	620	579
Total non-current liabilities	25,133	26,064
Total liabilities	215,737	189,534
Net assets
Shareholders' equity
Share capital	30,108	30,108
Capital surplus	25,156	25,156
Retained earnings	104,727	105,376
Treasury shares	(451)	(439)
Total shareholders' equity	159,540	160,201
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	4,241	3,076
Foreign currency translation adjustment	384	837
Remeasurements of defined benefit plans	(330)	(267)
Total accumulated other comprehensive income	4,294	3,646
Total net assets	163,835	163,848
Total liabilities and net assets	379,573	353,383

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