Interim report
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Disclaimer : 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 . The Company assumes no responsibility for this translation or for direct , indirect or any other forms of damages arising from the translation . Consolidated Financial Results for the Three Months Ended June 30 , 2026 [ Japanese GAAP ] Accounting Standards FASF MEMBERSHIP Company name : YAMAURA CORPORATION August 6 , 2026 Stock exchange listing : Tokyo Stock Exchange and Nagoya Stock Exchange Securities code : 1780 URL : http://www.yamaura.co.jp/ Representative : Masaki Yamaura , Representative Director and President Contact : Jun Kamata , Deputy General Manager of Management Division General Manager of Business Administration Phone : + 81-265-81-6070 Scheduled date of commencing dividend payments : Availability of supplementary material on financial results : Available Schedule of 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 , 2026 ( April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated Operating Results ( cumulative ) ( % indicates changes from the previous corresponding period . ) Profit attributable to owners of parent Net sales Operating profit Ordinary profit Millions of Millions of Millions of Millions of Three months ended % % % % June 30 , 2026 June 30 , 2025 yen 8,216 8,431 yen yen yen ( 2.5 ) 18.6 753 ( 8.9 ) 812 ( 6.9 ) 551 ( 2.8 ) 826 ( 5.4 ) 873 ( 4.1 ) 567 1.1 ( Note ) Comprehensive income : Three months ended June 30 , 2026 : ¥ 741 million [ 17.5 % ] Three months ended June 30 , 2025 : ¥ 630 million [ ( 0.8 % ) ] Basic quarterly Diluted quarterly earnings per earnings per share Three month ended June 30 , 2026 June 30 , 2025 Yen share Yen 29.13 29.97 ( 2 ) Consolidated Financial Position Total assets Net assets Equity ratio As of June 30 , 2026 As of March 31,2026 ( Reference ) Equity Capital : 2. Cash Dividends Millions of yen 36,288 36,007 As of June 30 , 2026 : Millions of yen % 25,791 71.1 26,180 72.7 ¥ 25,791 million As of March 31 , 2026 : ¥ 26,180 million Fiscal year ended March 31 , 2026 March 31 , 2027 Fiscal year ending March 31 , 2027 ( Forecast ) 1st 2nd Annual dividends 3rd | quarter - end quarter - end quarter - end Yen Yen 13.00 17.00 Year - end Total Yen Yen 17.00 Yen 30.00 19.00 36.00
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(Note) Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027) (% indicates changes from the previous corresponding period.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Six months ending September 30, 2026 (cumulative) 18,200 (5.0) 1,634 (19.8) 1,838 (20.7) 1,286 (18.1) 70.00 Full year 41,126 1.5 3,694 (13.3) 3,947 (13.5) 2,714 (14.2) 143.41 (Note) Revisions to the forecast of financial result most recently announced: None * Notes: (1) Significant changes in the scope of consolidation during the three months ended June 30, 2026: None (2) Application of special accounting methods for preparing quarterly consolidated financial statement: None (3) Changes in accounting policies, changes in accounting estimates and restatement of prior period financial statements. 1) Changes in accounting policies due to the revision of accounting standards: None 2) Changes in accounting policies other than 1) above: None 3) Changes in accounting estimates: None 4) Restatement of prior period financial statements: None (4) Number of issued shares (common shares) 1) Number of issued shares at the end of the period (including treasury shares): As of June 30, 2026: 21,103,514 shares As of March 31, 2026: 21,103,514 shares 2) Number of treasury shares at the end of the period: As of June 30, 2026: 2,744,477 shares As of March 31, 2026: 2,176,287 shares 3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year): Three months ended June 30, 2026: 18,932,460 shares Three months ended June 30, 2025: 18,927,227 shares (Note) The Company has introduced a Board Incentive Plan (BIP) Trust and an Employee Stock Ownership Plan (ESOP) Trust. The Company’s shares held by these trusts are included in treasury shares to be deducted in the calculation of the number of treasury shares at the end of the period and the average number of shares outstanding during the period. * Review of accompanying quarterly consolidated financial statement by certified public accountants or audit firms: None * Explanation of the proper use of financial results forecast and other notes The forward-looking statements herein such as the earnings forecasts are based on information currently available to the Company and certain assumptions deemed reasonable, and not intended to guarantee the achievement of the forecasts. Actual results may differ significantly from these forecasts due to a wide range of factors. For the conditions that form the premises of the forecasts and the points to be noted in the use of the forecasts, please refer to “1. Overview of Business Results, etc. (3) Explanation of Future Forecast Information such as Forecast of Consolidated Financial Results” on page 2 in the attachment.
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1 Table of Contents - Attachments 1. Overview of Business Results, etc. ....................................................................................................... 2 (1) Overview of Business Results for the Three Months Under Review ............................................ 2 (2) Overview of Financial Position for the Three Months Under Review .......................................... 2 (3) Explanation of Future Forecast Information such as Forecast of Consolidated Financial Results ............................................................................................................................................... 2 2. Quarterly Consolidated Financial Statements and Primary Notes................................................... 3 (1) Quarterly Consolidated Balance Sheets ......................................................................................... 3 (2) Quarterly Consolidated Statements of Income and Comprehensive Income............................... 5 Quarterly Consolidated Statements of Income .............................................................................. 5 Quarterly consolidated cumulative period ended June 30 ........................................................... 5 Quarterly Consolidated Statements of Comprehensive Income .................................................. 6 Quarterly consolidated cumulative period ended June 30 ........................................................... 6 (3) Notes to the Consolidated Financial Statements ........................................................................... 7 (Notes on going concern assumption) ............................................................................................. 7 (Notes in the case of significant changes in amount of shareholders’ equity) ............................. 7 (Application of special accounting methods for preparing quarterly consolidated financial statements) .................................................................................................................................... 7 (Additional information) .................................................................................................................. 7 (Segment information) ..................................................................................................................... 8 (Note on quarterly consolidated statements of cash flows) .......................................................... 9 (Matters related to revenue recognition) ....................................................................................... 9 (Significant subsequent events) .................................................................................................... 10 3. Supplementary information .................................................................................................................11 (1) Status of Orders Received, ..............................................................................................................11
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2 1. Overview of Business Results, etc. (1) Overview of Business Results for the Three Months Under Review During the cumulative first quarter of the current consolidated fiscal year, despite the impact of instability in the Middle East, the Japanese economy maintained a moderate recovery, supported by expanding demand in sectors related to AI, semiconductors, and data centers, as well as resilient private consumption. In the construction industry, overall construction investment remained steady, supported by solid trends in public investment and some signs of a recovery in private capital investment. However, the business environment surrounding the construction industry remains challenging due to concerns over the impact of domestic policy rate trends on the financing environment and real estate trading market, as well as persistently high construction material prices, and an increasingly severe shortage of skilled labor. Under such circumstances, with a steadfast commitment to contributing to local communities as the foundation of our future business activities and delivering sincere construction to earn customer trust, the Company has focused on strengthening each business domain and enhancing inter-department collaboration. Furthermore, by driving DX initiatives, and bolstering the Y AMAURA brand, we have strived to acquire new customers and secure orders in new fields. As a result, orders for private construction projects, such as manufacturing industries (food-related equipment, precision instruments, etc.) and transportation industries, as well as orders for large-scale construction, such as hydroelectric power generation equipment, have increased. Additionally, orders for public buildings and civil engineering project under the National Resilience Plan, including river restoration and roadworks, have risen. Furthermore, the total value of condominium sales in the Tokyo metropolitan area and other regions is generally exceeding the target set in our medium-term management plan. Consequently, the Group’s consolidated financial performance continues to show strong and steady growth. Within this environment, business results of the Group company for the three months ended June 30, 2026 was as follows: net sales decreased by ¥214million (minus 2.5%) from the previous corresponding period to ¥8,216 million; operating profit decreased by ¥73million (minus 8.9%) to ¥753 million; ordinary profit decreased by ¥60 million (minus 6.9%) to ¥812 million; and quarterly profit attributable to owners of parent decreased by ¥15 million (minus 2.8%) to ¥551 million. (2) Overview of Financial Position for the Three Months Under Review Total assets as of the end of the three months under review amounted to ¥36,288 million. Liabilities amounted to ¥10,497 million. Net assets amounted to ¥25,791 million. As a result, the equity ratio as of the end of the first quarter of the current fiscal year was 71.1%. (3) Explanation of Future Forecast Information such as Forecast of Consolidated Financial Results Although the outlook for the construction industry remains uncertain due to structural issues such as a shortage of engineers and skilled labor, foreign exchange risks, and soaring raw material prices, the Group will further strengthen collaboration among its building construction, engineering, and developments businesses to demonstrate synergies. Based on its sound financial position, we will actively promote businesses that accurately capture market needs to secure profits. For the consolidated financial forecast, there have been no changes from the financial forecast announced on May 13, 2026.
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3 2. Quarterly Consolidated Financial Statements and Primary Notes (1) Quarterly Consolidated Balance Sheets (Thousands of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets Cash and deposits 8,839,964 9,579,131 Notes receivable, accounts receivable from completed construction contracts and other, and contract assets 12,998,636 8,551,039 Electronically recorded monetary claims - operating 860,763 4,877,521 Real estate for sale 3,075,861 2,933,450 Costs on construction contracts in progress 997,979 1,557,179 Costs on development business and other 167,500 167,500 Raw materials and supplies 48,714 48,185 Short-term loans receivable 2,755 1,274 Accounts receivable - other 981,182 434,864 Other 235,824 220,704 Total current assets 28,209,181 28,370,852 Non-current assets Property, plant and equipment Buildings and structures 4,828,386 4,830,064 Machinery, vehicles, tools, furniture and fixtures 3,347,191 3,348,548 Land 1,501,135 1,543,314 Construction in progress 39,754 57,964 Accumulated depreciation (5,539,745) (5,615,860) Total property, plant and equipment 4,176,723 4,164,032 Intangible assets 64,977 60,978 Investments and other assets Investment securities 2,606,903 2,897,446 Investments in capital 293,246 156,649 Long-term loans receivable 29,096 31,173 Asset related to retirement benefits 145,017 143,721 Leasehold and guarantee deposits 86,654 88,910 Long-term accounts receivable - other 2,697,843 2,697,843 Other 286,695 265,473 Allowance for doubtful accounts (2,588,837) (2,588,837) Total investments and other assets 3,556,619 3,692,381 Total non-current assets 7,798,320 7,917,393 Total assets 36,007,501 36,288,245
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4 (Thousands of yen) As of March 31, 2026 As of June 30, 2026 Liabilities Current liabilities Accounts payable for construction contracts and other 2,944,561 2,474,203 Income taxes payable 909,286 192,136 Contract liabilities 3,313,535 4,178,740 Provision for bonuses 651,031 513,483 Provision for bonuses for directors (and other officers) 29,200 － Provision for stock-based compensation － 12,558 Provision for warranties for completed construction 104,342 83,870 Provision for shareholder benefit program 210,000 208,569 Provision for loss on construction contracts 30,721 26,437 Other 1,547,123 2,539,369 Total current liabilities 9,739,802 10,229,368 Non-current liabilities Provision for stock compensation for directors － 23,394 Long-term accounts payable - other 24,139 24,139 Deferred tax liabilities － 151,698 Asset retirement obligations 13,206 13,218 Other 49,432 55,270 Total non-current liabilities 86,778 267,721 Total liabilities 9,826,580 10,497,090 Net assets Shareholders’ equity Share capital 2,888,492 2,888,492 Capital surplus 2,344,439 2,344,439 Retained earnings 20,795,829 21,020,503 Treasury shares (1,179,997) (1,984,223) Total shareholders’ equity 24,848,763 24,269,212 Accumulated other comprehensive income Valuation difference on available-for-sale securities 1,223,214 1,422,597 Remeasurements of defined benefit plans 108,942 99,345 Total accumulated other comprehensive income 1,332,157 1,521,942 Total net assets 26,180,920 25,791,154 Total liabilities and net assets 36,007,501 36,288,245
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5 (2) Quarterly Consolidated Statements of Income and Comprehensive Income Quarterly Consolidated Statements of Income Quarterly consolidated cumulative period ended June 30 (Thousands of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Net sales Net sales of completed construction contracts 8,050,334 7,900,029 Net sales in development business and other 381,170 316,738 Total net sales 8,431,505 8,216,767 Cost of sales Cost of sales of completed construction contracts 6,638,991 6,447,831 Cost of sales in development business and other 301,949 244,889 Total cost of sales 6,940,940 6,692,720 Gross profit Gross profit on completed construction contracts 1,411,343 1,452,198 Gross profit on development business and other 79,221 71,848 Total gross profit 1,490,564 1,524,047 Selling, general and administrative expenses 663,822 770,751 Operating profit 826,741 753,295 Non-operating income Interest income 2,226 13,510 Dividend income 39,467 40,336 Commission income 323 294 Insurance claim income － 7,448 Other 6,933 1,259 Total non-operating income 48,951 62,848 Non-operating expenses Interest expenses 1,802 1,046 Other 523 2,391 Total non-operating expenses 2,325 3,437 Ordinary profit 873,367 812,706 Quarterly profit before income taxes 873,367 812,706 Income taxes - current 306,139 179,056 Income taxes - deferred － 82,112 Quarterly profit 567,228 551,537 Quarterly profit attributable to non-controlling interests － － Quarterly profit attributable to owners of parent 567,228 551,537
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6 Quarterly Consolidated Statements of Comprehensive Income Quarterly consolidated cumulative period ended June 30 (Thousands of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Quarterly profit 567,228 551,537 Other comprehensive income Valuation difference on available-for-sale securities 68,310 199,382 Remeasurements of defined benefit plans (4,800) (9,597) Total other comprehensive income 63,510 189,785 Quarterly comprehensive income 630,738 741,322 Quarterly comprehensive income details Quarterly comprehensive income attributable to owners of parent 630,738 741,322 Quarterly comprehensive income attributable to non- controlling interests － －
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7 (3) Notes to the Consolidated Financial Statements (Notes on going concern assumption) There is no relevant information. (Notes in the case of significant changes in the amount of shareholders’ equity) There is no relevant information. (Application of special accounting methods for preparing quarterly consolidated financial statements) There is no relevant information. (Additional information) Regarding income tax expenses for the first quarter of the consolidated fiscal year, the Company previously applied a simplified method to calculate them. However, in order to calculate them more reasonably, the Company changed to the standard calculation method starting from the first quarter of the current consolidated fiscal year. Our consolidated subsidiaries calculate their income tax expenses using the simplified method, and their adjustments for income taxes are included in “Income taxes – current”. The impact of this change is immaterial amount.
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8 (Segment information) Three months ended June 30, 2025 1． Information on the amounts of net sales, profit or loss for each reportable segment (Thousands of yen) Reportable segment Adjustment (Note 1) Amount recorded in quarterly consolidated statements of income (Note 2) Construction business Engineering business Development business and others Total Net sales Net sales to external customers 7,520,724 529,579 381,200 8,431,505 － 8,431,505 Inter-segment net sales or transfers － － 6,131 6,131 (6,131) － Total 7,520,724 529,579 387,332 8,437,636 (6,131) 8,431,505 Segment profit 1,070,465 10,559 26,747 1,107,772 (281,030) 826,741 (Notes) 1. The segment profit adjustment of minus ¥281,030 thousand includes minus ¥1,009 thousand in eliminations of inter-segment transactions and minus ¥280,020 thousand in corporate expenses that are not allocated to the reportable segments. Company-wide expenses are primarily general and administrative expenses that are not attributable to each reporting segment. 2. Segment profit is adjusted with operating profit in the quarterly consolidated statements of income. Three months ended June 30, 2026 1． Information on the amounts of net sales, profit or loss for each reportable segment (Thousands of yen) Reportable segment Adjustment (Note 1) Amount recorded in quarterly consolidated statements of income (Note 2) Construction business Engineering business Development business and others Total Net sales Net sales to external customers 7,374,461 525,568 316,738 8,216,767 － 8,216,767 Inter-segment net sales or transfers 609 － 6,131 6,740 (6,740) － Total 7,375,070 525,568 322,869 8,223,508 (6,740) 8,216,767 Segment profit 1,095,079 49,437 2,850 1,147,367 (394,071) 753,295 (Notes) 1. The segment profit adjustment of minus ¥394,071 thousand includes ¥12,405 thousand in eliminations of inter-segment transactions and minus ¥406,477 thousand in corporate expenses that are not allocated to the reportable segments. Company-wide expenses are primarily general and administrative expenses that are not attributable to each reporting segment. 2. Segment profit is adjusted with operating profit in the quarterly consolidated statements of income.
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9 (Note on quarterly consolidated statements of cash flows) The Company has not prepared quarterly consolidated statements of cash flows for three months under review. Depreciation (including depreciation of intangible assets) for the three months under review is as follows: Three months ended Three months ended June 30, 2025 June 30, 2026 Depreciation ¥78,769 thousand ¥90,988 thousand (Matters related to revenue recognition) The following are details broken down by the timing when the Group company recognizes revenue. Three months ended June 30, 2025 (Thousands of yen) Reportable segment Construction business Engineering business Development business and others Total Net sales Goods and services transferred over time Goods and services transferred at a point in time 7,389,998 130,726 524,502 5,077 － 364,193 7,914,500 499,997 Revenue from contracts with customers 7,520,724 529,579 364,193 8,414,498 Revenue from other sources － － 23,138 23,138 Net sales among consolidated companies － － (6,131) (6,131) Net sales to external customers 7,520,724 529,579 381,200 8,431,505 (Note) The revenue from other sources consists of real estate lease revenue. Three months ended June 30, 2026 (Thousands of yen) Reportable segment Construction business Engineering business Development business and others Total Net sales Goods and services transferred over time Goods and services transferred at a point in time 7,241,625 133,444 521,486 4,081 － 297,835 7,763,112 435,361 Revenue from contracts with customers 7,375,070 525,568 297,835 8,198,474 Revenue from other sources － － 25,033 25,033 Net sales among consolidated companies (609) － (6,131) (6,740) Net sales to external customers 7,374,461 525,568 316,738 8,216,767 (Notes) 1. The revenue from other sources consists of real estate lease revenue.
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10 (Significant subsequent events) (Cancellation of treasury stocks) At the Board of Directors meeting held on May 13, 2026, the Company resolved on matters pertaining to the cancellation of treasury shares pursuant to the provisions of Article 178 of the Companies Act, and executed the cancellation as follows: 1. Kind of shares to be cancelled The Company’s common shares 2. Number of shares cancelled 600,000 shares (3.26% of the total number of issued shares before the cancellation, excluding treasury stocks) 3. Date of cancellation July 3, 2026
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11 3. Supplementary information (1) Status of Orders Received, Non-consolidated construction orders received (Amounts of less than one million yen are rounded down.) Net orders Three months ended June 30, 2026 ¥8,586 million （6.7）％ Three months ended June 30, 2025 ¥9,204 million 62.9％ (Notes) 1. Net orders are the cumulative amount. 2. % indicates changes from the previous corresponding period. Public and private sector breakdown of construction orders received （ Amount : Millions of yen） Business category Three months ended June 30, 2026 Three months ended June 30, 2025 Changes from the previous corresponding period (%) Amount Composition ratio (%) Amount Composition ratio (%) Construction Building construction Public 137 1.6 889 9.7 (84.5) Private 5,507 64.1 7,264 78.9 (24.2) Total 5,645 65.7 8,153 88.6 (30.8) Civil work Public 442 5.2 79 0.9 459.8 Private 57 0.7 167 1.8 (65.6) Total 500 5.8 247 2.7 102.5 Subtotal Public 580 6.8 968 10.5 (40.1) Private 5,565 64.8 7,432 80.7 (25.1) Total 6,145 71.6 8,400 91.3 (26.8) Engineering Public 104 1.2 14 0.2 595.7 Private 2,244 26.1 748 8.1 200.0 Total 2,348 27.4 763 8.3 207.8 Total Public 684 8.0 983 10.7 (30.4) Private 7,809 90.9 8,180 88.9 (4.5) Total 8,493 98.9 9,163 99.6 (7.3) Development business and others 92 1.1 40 0.4 129.0 Total 8,586 100.0 9,204 100.0 (6.7) (Notes) Amounts of less than one million yen are rounded down.
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12 ［Qualitative information of Non-consolidated construction orders received ］ Non-consolidated construction orders received as of the end of the three months under review is above. Net orders as of the end of the three months under review amounted to ¥8,586 million (minus 6.7％from the previous corresponding period).