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Financial Results for FY2026 Q1 TAISEI For a Lively World August6 , 2026 Image : From Taisei Corporation Group's new TV commercial Shikoku - Aquarium ( Completed in 2020 ) © Taisei Corporation . All rights reserved .
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© Taisei Corporation. All rights reserved. Net sales reached a record high for Q1, although new orders decreased due to a pullback following the previous year's strong results. Profits at each level reached record highs on both a consolidated and a non-consolidated basis, mainly driven by higher profit in Taisei Corporation’s building construction business. The gross profit margin for Taisei Corporation reached 18.8% for civil engineering and １４.3% for building construction. Summary New orders, net sales and gross profit reflect the effect of the consolidation of Toyo Construction from the start of the fiscal year.* Group Companies We sold cross-shareholdings worth 7.0 billion yen between April and June 2026. As a result of progress in sales, cross-shareholdings now represent 27.3％ of consolidated net assets. 1. Highlights of First Quarter Results 1Q Highlights 457.0 440.3 521.2 FY2024 1Q FY2025 1Q FY2026 1Q 23.3 29.5 30.9 FY2024 1Q FY2025 1Q FY2026 1Q 123.8 170.0 151.0 FY2024 Full-Year (Results) FY2025 Full-Year (Results) FY2026 Full-Year (Forecast) Consolidated Net Sales (Q1) Consolidated Net Income (Q1) (¥ billion) (¥ billion) Consolidated Net Sales (Forecast) (¥ billion) Consolidated Net Income (Forecast) (¥ billion) 2,154.2 2,089.0 2,420.0 FY2024 Full-Year (Results) FY2025 Full-Year (Results) FY2026 Full-Year (Forecast) ＋330.9 （up15.8%） (19.0) （down11.2%） +80.8 (up18.4%） +1.4 （up4.8%） 1 *Toyo Construction became a consolidated subsidiary at the end of September 2025. In the previous year's results, this is reflected in the second half of the year (from October 2025). Reduction of Cross-Shareholdings
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© Taisei Corporation. All rights reserved. Financial Results for FY2026 Q1 2. Key Financial Figures – Results and Forecasts 3-1. New Orders 3-2. Net Sales 3-3. Gross Profit 3-4. Non-Consolidated Profit Ratio on Construction Business 3-6. Operating Income 3-7. Quarterly Net Income Attributable to Owners of Parent 4. Group Companies’ Results 5. Balance Sheet 3-5. Selling, General and Administrative (SG&A) Expenses 3-８. （Reference）Net Income Attributable to Owners of Parent (Full-Year Forecast)
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© Taisei Corporation. All rights reserved. 2. Key Financial Figures – Results 3 Key figures: actual results and forecasts Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan FY2025 1Q Results FY2026 1Q Results YoY Changes 1Q Progress (vs Full-Year Forecast) FY2026 Full-Year Forecast New Orders 630.5 475.9 (1５４.５) 20.4% 2,330.0 Net Sales 440.3 5２1.2 +80.8 21.5% 2,420.0 Gross Profit 67.8 15.4% 85.5 16.4% ＋17.7 +1．０pt 24.0% 357.0 14.8% Operating Income 39.2 8.9% 45.３ 8.7% +6.0 (0.2pt) 24.1% 188.0 7.8% Interim Net Income Attributable to Owners of Parent 29.5 6.7% 30.9 5.9% ＋1.4 (0.8pt) 20.5% 151.0 6.2% (¥ billion) Interim Net Income per Share (¥) 173.42 189．62 16.２0 20.5% 926.33 ROE ー ー あ対ー ー 15.4% In Q1, net sales increased, supported by a higher opening order backlog in domestic building construction. Gross profit increased, driven by higher net sales and improved profitability in building construction, as well as the consolidation of Toyo Construction. Profits at each level reached record highs on both a consolidated and a non-consolidated basis. The progress rates against the full fiscal year forecast were generally in line with historical levels.
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© Taisei Corporation. All rights reserved. 3-1. New Orderｓ 4 Orders Q1 Results (¥ billion) FY2024_1Q FY2025_1Q FY2026_1Q Full-Year (¥ billion) FY2024 Results FY2025 Results FY2026 Forecast 25.4 43.7 48.0 276.6 479.9 250.4 215.2 106.8 177.4 517.4 630.5 475.9 164.1 162.2 170.0 1,573.1 1,553.8 1,460.0 700.2 720.0 700.0 2,437.5 2,436.2 2,330.0 Progress rate vs. full-year forecast: 20.4% Civil Engineering Building Construction Real Estate Development, etc. Civil Engineering Building Construction Real Estate Development, etc. Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan New orders decreased by 24.5% YoY, primarily due to the absence of large-scale domestic building construction orders received in the previous fiscal year.
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© Taisei Corporation. All rights reserved. (Reference) Major New Orders 5 Orders Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan Seg- ment Order Period Type Project Name Facility Use Client Industry Classification Civil Engineering 1Q Private Construction work of the Ukujima wind power plant Others Ukujima Wind Power Co., Ltd. Electric and gas 1Q Private Ground improvement work for the construction of the second petroleum storage base Port ＆ Airports SAN-AI OBBLI TECH CO., LTD. Commerce 1Q Public Construction work for paving of Runway B extension section etc. Port ＆ Airports NARITA INTERNATIONAL AIRPORT CORPORATION Government related enterprise Building Construction 1Q Private Construction work of the new planned maintenance building of Haneda former aircraft maintenance area for Japan Airlines Co., Ltd. Factory Japan Airlines Co., Ltd. Transport 1Q Private Construction work of the PC 4 aseptic active pharmaceutical ingredient building Factory Meiji Seika Pharma Co., Ltd. Chemicals 1Q Public Construction work of the integrated center for women's health Educational, Research and Cultural Facilities National Center for Child Health and Development Independent administrative agency
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© Taisei Corporation. All rights reserved. 150.9 160.6 170.0 1,372.5 1,248.5 1,470.0 630.6 679.7 780.0 2,154.2 2,089.0 2,420.0 28.1 44.1 45.9 300.8 254.5 309.6 127.9 141.6 165.6 457.0 440.3 521.2 3-2. Net Sales 6 Sales Q1 Results (¥ billion) FY2024_1Q FY2025_1Q FY2026_1Q Full-Year (¥ billion) FY2024 Results FY2025 Results FY2026 Forecast Civil Engineering Building Construction Real Estate Development, etc. Civil Engineering Building Construction Real Estate Development, etc. Progress rate vs. full-year forecast: 21.5% Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan Net sales increased by 18.4％, primarily driven by a higher opening order backlog in domestic building construction.
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© Taisei Corporation. All rights reserved. 3-3. Gross Profit 7 Gross profit Q1 Results (¥ billion) FY2024_1Q FY2025_1Q FY2026_1Q Full-Year (¥ billion) 6.3 9.3 12.5 16.2 25.0 44.620.4 33.4 28.3 43.0 67.8 85.5 34.5 34.9 36.0 74.4 153.5 179.0 122.0 141.4 142.0 231.1 330.0 357.0 Civil Engineering Building Construction Real Estate Development, etc. Civil Engineering Building Construction Real Estate Development, etc. FY2024 Results FY2025 Results FY2026 Forecast Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan Progress rate vs. full-year forecast: 24.0% Gross profit increased by 26.２% YoY, driven primarily by higher net sales in domestic building construction and improved profitability of certain large-scale projects as a result of securing price escalation adjustments.
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© Taisei Corporation. All rights reserved. Breakdown of Changes in Provision for Loss on Construction Contracts 3-4. Non-Consolidated Profit Ratio on Construction Business 8 Profit margin on completed construction 7.2 14.2 15.5 16.2 26.4 18.8 4.6 9.1 14.3 8.5 15.0 14.0 20.7 23.0 18.8 4.4 11.9 12.2 （%）Q1 Results Full-Year（%） Civil Engineering Building Construction Profit Margin of the Construction Business Civil Engineering Building Construction Profit Margin of the Construction Business As of Mar. 2026 Changes（Apr.to Jun.2026 ） As of Jun. 2026Provision Reversal Civil Engineering 11.0 (0.8) 0.1 (0.9) 10.2 Building Construction 64.3 (6.3) 0.0 (6.3) 58.0 Total 75.3 (7.1) 0.1 (7.2) 68.2 (¥ billion) Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan FY2024 Results FY2025 Results FY2026 Forecast Factors Affecting Changes in Gross Profit （YoY） Gross Profit Q1 YoY Changes Factors Changes of Net Sales Changes of Profit Ratio Civil Engineering 16.6 (6.9) (0.2) (6.7) Building Construction 35.7 16.２ 2.６ 13.6 Total 52.4 9.３ 2.４ 6.9 FY2024_1Q FY2025_1Q FY2026_1Q (¥ billion) Profit ratios were 18.8% for civil engineering (-7.6 ｐt YoY) and 14.3% for building construction (+5.2 ｐt YoY), with the profit ratio for building construction improving.
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© Taisei Corporation. All rights reserved. 3.0 3.0 4.0 13.4 16.8 21.4 7.7 8.7 14.8 24.2 28.5 40.2 Breakdown of SG&A Expenses (Non-Consolidated) 3-5. Selling, General and Administrative (SG&A) Expenses 9 Breakdown of selling and administrative expenses Q1 Results (¥ billion) Full-Year (¥ billion) FY2024_1Q FY2025_1Q FY2026_1Q 12.4 13.5 17.0 64.1 79.2 90.8 34.3 49.3 61.2 110.9 142.0 169.0 FY2024 Results FY2025 Results FY2026 Forecast 7.6 8.7 36.3 41.0 2.3 2.8 12.8 17.1 8.7 10.3 36.7 36.9 18.6 21.8 85.8 95.0 FY2025 1Q Results FY2026 1Q Results FY2025 Results FY2026 Forecast Personnel expenses Research and study expenses Other expenses Progress rate vs. full-year forecast: 23.8% Civil Engineering Building Construction Real Estate Development, etc. Civil Engineering Building Construction Real Estate Development, etc. Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan SG&A expenses increased by 41.２% YoY due to an increase in investments in human capital and other areas made by Taisei Corporation and the effect of making Toyo Construction a consolidated subsidiary.
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© Taisei Corporation. All rights reserved. 22.1 21.5 19.0 10.3 74.3 88.2 87.7 92.1 80.8 120.1 187.9 188.0 3-6. Operating Income 10 Operating profit Q1 Results (¥ billion) FY2024_1Q FY2025_1Q FY2026_1Q Full-Year (¥ billion) 3.3 6.3 8.4 2.8 8.2 23.2 12.6 24.7 13.5 18.7 39.2 45.3 Civil Engineering Building Construction Real Estate Development, etc. Civil Engineering Building Construction Real Estate Development, etc. Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan FY2024 Results FY2025 Results FY2026 Forecast Progress rate vs. full-year forecast: 24.1% Operating income increased by 15.３% YoY as higher gross profit more than offset the increase in SG&A expenses.
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© Taisei Corporation. All rights reserved. 3-7. Quarterly Net Income Attributable to Owners of Parent 11 Quarterly net income attributable to owners of parent Breakdown of Year-on-Year Change (¥ billion) Item YoY Changes Operating income +6.0 Non-operating income (expenses) (１.３) Financial income (expenses) (1.2) Financing costs (0.9) Foreign exchange gains (losses) +0.7 Foreign taxes +0,2 Others (0.１) Extraordinary gains (losses) +0.2 Loss on sales of investment securities +0.２ Others (0.0) FY2024 1Q FY2026 1Q FY2025 1Q Extraordinary losses +0.2 Non- operating loss (1.3) Income taxes (3.2) Loss attributable to non-controlling interests (0.2) (¥ billion) 29.5 30.9 23.3 Ordinary Income +4.7 Operating income +6.0 Progress rate vs. full-year 20．5%forecast Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan Net income attributable to owners of the parent increased by 4.８% YoY due to higher operating income, driven by net sales and improved profitability in Taisei Corporation’s building construction business.
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© Taisei Corporation. All rights reserved. 3-8．（Ｒｅｆａｒｅｎｃｅ） Net Income Attributable to Owners of Parent (Full-Year Forecast) 12 Net income attributable to owners of parent Breakdown of Year-on-Year Change (¥ billion) Breakdown YoY Changes Operating income +0.0 Non-operating income (expenses) (8.7) Equity in earnings of affiliates (7.5) Financial income (expenses) (0.8) Foreign exchange gains (losses) (0.5) Foreign taxes +0.5 Others (0.4) Extraordinary gains (4.7) Gain on investments in subsidiaries and affiliates (8.5) Gain on sales of investment securities +3.5 Others +0.3 FY2024 Results FY2026 Forecast FY２０２5 Ｒｅｓｕｌｔｓ Extraordinary gains (4.7) Non- operating Income /Expenses (8.7） Operating Income +0 Income Taxes （6.4） Loss Attributable to Non-Controlling Interests 0.8 (¥ billion) 170.0 151.0 123.8 Ordinary Income (8.7) Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan Operating income is expected to remain at the same level as the previous fiscal year, as higher gross profit is expected to offset increased SG&A expenses. Non-operating income/expenses are expected to deteriorate by 8.7 billion yen due to higher interest expenses driven by rising interest rates. Extraordinary income and loss is forecast to worsen by 4.7 billion yen, reflecting lower gains on the sale of cross shareholdings. Net income is forecast to decrease by 19.0 billion yen.
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© Taisei Corporation. All rights reserved. 4． Group Companies’ Results (Consolidated vs. Non-Consolidated) 13 Group company performance (¥ billion)Breakdown of Subsidiary Results by Segment Building Construction TAISEI U-LEC CO., LTD. TAISEI SETSUBI CO., LTD. TAISEI HOUSING CORPORATION SATOHIDE CORPORATION PS Construction Co., Ltd. TOYO CONSTRUCTION CO., LTD. Civil Engineering Taisei Rotec Corporation SEIWA RENEWAL WORKS CO., LTD. PS Construction Co., Ltd. TOYO CONSTRUCTION CO., LTD. Real Estate Development and Other Taisei-Yuraku Real Estate Co., Ltd. Taisei USA LLC Major Consolidated Subsidiaries Orders Received Net Sales Gross Profit 1Q Results YoY Changes Progress Rate vs Full-Year Forecast Full-Year Forecast 1Q Results YoY Changes Progress Rate vs Full-Year Forecast Full-Year Forecast 1Q Results YoY Changes Progress Rate vs Full-Year Forecast Full-Year Forecast Taisei Corporation 281.1 (203.4) 18.7% １,５0０.０ 346.7 37.1 21.1% １,64０.０ 57.9 １２.６ 24.1％ 240.0 Civil Engineering Subsidiaries 85.0 20.6 25．０％ ３4０.０ 76.8 24.6 21.9% ３5０.０ １１.７ １.８ 19.2% 61.０ Building Construction Subsidiaries ７１.５ 28.1 20．4％ 3５０.０ 59.6 19.6 20.6％ ２9０.０ ８.８ ３.３ 25.1% ３5.０ Real Estate Development and Other Subsidiaries ３８.１ 0.0 ２７．２% １4０.０ ３８.０ (0.5) 27.1％ １4０.０ ７.０ (0.0) 33.3% 21.０ Total (Group) 475.9 (154.5) ２０．４% ２,33０.０ 521.2 80.8 21.5% ２,42０.０ 85.5 １７.７ 24.0% 357.0 Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan (Notes on Toyo Construction) [Initially Recorded Amounts of Goodwill, etc.] 91.1 billion yen (goodwill: 73.5 billion yen; customer-related intangible assets, etc.: 17.6 billion yen) [Annual Amortization Amount] 13.6 billion yen (equal amortization over seven years) [Amortized Amount in Q1] 3.4 billion yen
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© Taisei Corporation. All rights reserved. 5. Balance Sheet 14 Balance sheet Balance Sheet (BS) (¥ billion) Cash and deposits 278.3 Cross- shareholdings 277.5 Other assets 2,158.7 Interest- bearing debt 463.4 Other liabilities 1,261.2 Non- controlling interests 41.8 Equity 948.1 (of which, retained earnings) 625.6 Total assets 2,537.6 As of end of Jun. 2026 Total assets 2,714.5 As of end of Mar. 2026 Cash and deposits 242.3 Cross- Shareholdings 266.3 Other assets 2,029.0 Interest- bearing debt 447.0 Other liabilities 1,115.7 Non- controlling interests 41.7 Equity 933.2 (of which, retained earnings) 626.6 Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan * Including negotiable certificates of deposit. * Interest-bearing debt decreased by 16.4 billion yen from the end of the previous fiscal year, while net debt stood at 204.7 billion yen. Equity capital decreased by 14.9 billion yen, and the equity ratio was 36.8%.
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© Taisei Corporation. All rights reserved. Reduction of Cross-Shareholdings Cross-Shareholdings
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© Taisei Corporation. All rights reserved. 111 132 131 131 678 866 318 504 2,808 3,489 2,200 2,322 43.1% 46.7% 29.4% 32.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 1,746 1,594 1,177 991 Future Policy Implement additional sales, etc. as appropriate to ensure the reduction target is achieved 4-3. Reduction of Cross-Shareholdings Reduction of strategic shareholdings Reduction target (announced in December 2023): Reduce the amount of cross-shareholdings to less than 20% of our consolidated net assets by the end of FY2026. Current Situation （as of the End of June 2026) Balance of cross-shareholdings: ¥266.3 bn Proportion of consolidated net assets: 27.3% 保有残高と連結純資産比率の推移 （億円） ■ 上場株式 ■ みなし保有株式 ■ 非上場株式 ■ 簿価 ※評価差額除く （上場＋みなし+非上場） ― 連結純資産比率 ↓ 売却等 ↑ 株価変動 3,598 4,489 2,650 795 2,958 売却応諾済かつ未売却 （2026年度末までに売却予定） 795億円 △491 799 FY2022 4Q FY2023 4Q FY2024 4Q FY2025 3Q FY2025 4Q FY2026 4Q ２０％未満 16 * Cash generated from additional sales will be allocated to growth investments and shareholder returns in line with our capital allocation policy to sustainably enhance our corporate value. Balance Breakdown as of the End of June 2026 Listed stocks ¥184.4 bn Deemed holdings ￥69.3 bn Unlisted stocks ￥12.5 bn Total of which; Not sold but agreed to be sold ￥266.3 bn ¥87.2ｂｎ 114 88 74 62 55 0 20 40 60 80 100 120 End of FY2022 End of FY2023 End of FY2024 End of FY2025 End of June 2026 End of FY2026 Trend in the Number of Shares * Listed & deemed Consolidated Non-consolidated First Quarter (1Q) Full Year Three-Year Medium- Term Business Plan 174.6 159.4 117.7 89.4 86.6 11.1 13.2 13.1 13.1 12.5 67.8 86.6 31.8 56.2 69.3 280.8 348.9 220.0 208.1 184.4 43.1% 46.7% 29.4% 28.0% 27.3% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 359.8 ４４８．９ 265．0 277.5 ■ Listed stocks (including deemed holdings) ■ Deemed holdings ■ Unlisted stocks ■ Book value excluding valuation differences (Listed + Deemed holdings + Unlisted) ― Ratio to consolidated net assets Changes in holding amount and ratio to consolidated net assets End of FY2022 End of FY2023 End of FY2024 End of FY2025 End of FY2026 Sold (7.0) Stock price fluctuation (4.6) Acquisition (Unlisted stock) 0.4 Changes in Cross-shareholdings (vs. FY2025 Year-end) 266.3 less than 20% End of June 2026
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© Taisei Corporation. All rights reserved. Disclaimer 17 This information was translated into English and presented solely for the convenience of non-Japanese speaking users. If there is any discrepancy between Japanese "Kessan Setumeikai Siryou" and this document, Japanese "Kessan Setumeikai Siryou" shall prevail.