Interim report
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OBAYASHI Accounting Standards FASF F MEMBERSHIP Note : This document has been translated from the Japanese original , “ Kessan Tanshin ” 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 , 2026 ( Under Japanese GAAP ) Company name : OBAYASHI CORPORATION Tokyo Stock Exchange https://www.obayashi.co.jp/en/ Listing : Securities code : 1802 URL : Representative : Inquiries : Telephone : Toshimi Sato , Representative Director , President and CEO Naoya Iba , General Manager of Accounting Department + 81-3-5769-1701 Scheduled date to commence dividend payments : Preparation of supplementary material on financial results : Holding of financial results briefing : Yes Yes ( for analysts and institutional investors ) August 7 , 2026 ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated financial results for the three months ended June 30 , 2026 ( from April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) ( Percentages indicate year - on - year changes . ) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Three months ended June 30 , 2026 June 30 , 2025 Millions of yen 623,429 523,763 % 19.0 ( 8.4 ) Millions of yen 32,700 15,798 % 107.0 3.1 Millions of yen % Millions of yen % 36,468 98.2 39,091 116.3 18,396 ( 9.1 ) 18,070 ( 30.0 ) Note : Comprehensive income For the three months ended June 30 , 2026 : For the three months ended June 30 , 2025 : 18,708 Millions of yen 4,637 Millions of yen [ 303.5 % ] [ ( 5.9 ) % ] Basic earnings per share ( EPS ) Diluted earnings per share Three months ended Yen Yen June 30 , 2026 56.87 June 30 , 2025 25.59 ( 2 ) Consolidated financial position As of June 30 , 2026 March 31 , 2026 Reference : Equity As of June 30 , 2026 : As of March 31 , 2026 : Total assets Net assets Equity - to - asset ratio Millions of yen Millions of yen % 3,063,036 3,143,449 1,299,742 1,316,466 40.6 40.0 1,244,437 Millions of yen 1,258,424 Millions of yen
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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 March 31, 2026 － 41.00 － 47.00 88.00 Fiscal year ending March 31, 2027 － Fiscal year ending March 31, 2027 (Forecast) 47.00 － 47.00 94.00 (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share (EPS) Fiscal year ending Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen March 31, 2027 2,945,000 13.9 180,000 (7.5) 183,000 (10.4) 157,000 (9.6) 228.39 (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None June 30, 2026 691,811,346 shares March 31, 2026 691,811,346 shares June 30, 2026 4,390,787 shares March 31, 2026 4,389,832 shares Three months ended June 30, 2026 687,420,953 shares Three months ended June 30, 2025 706,249,614 shares 2. Cash dividends Note: Revisions to the forecast of cash dividends most recently announced: None 3. Consolidated forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) Note: Revisions to the consolidated forecasts most recently announced: None Notes: (1) Significant changes in the scope of consolidation during the period: None (2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (4) Number of issued shares (ordinary shares) (i) Total number of issued shares at the end of the period (including treasury shares) (ii) Number of treasury shares at the end of the period (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
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(1) Non-consolidated operating results (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit Basic earnings per share (EPS) Three months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen June 30, 2026 357,188 17.5 15,066 108.2 37,702 (4.0) 46,631 11.4 67.83 June 30, 2025 303,932 (18.6) 7,236 (14.8) 39,288 147.5 41,863 73.5 59.28 (2) Non-consolidated financial position Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % June 30, 2026 2,018,838 863,724 42.8 March 31, 2026 2,101,094 873,189 41.6 As of June 30, 2026: 863,724 Millions of yen As of March 31, 2026: 873,189 Millions of yen Net sales Operating profit Ordinary profit Profit Basic earnings per share (EPS) Fiscal year ending Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen March 31, 2027 1,605,000 6.3 115,000 (11.5) 137,000 (21.5) 131,000 (19.6) 190.57 [Reference] Overview of non-consolidated financial results 1. Non-consolidated financial results for the three months ended June 30, 2026 (from April 1, 2026 to June 30, 2026) Reference: Equity 2. Non-consolidated forecasts for the fiscal year ending March 31, 2027 (from April 1, 2026 to March 31, 2027) (Percentages indicate year-on-year changes.) Note: Revisions to the non-consolidated forecasts most recently announced: None * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None * Proper use of earnings forecasts, and other special matters The forward-looking statements in this document, including financial forecasts, are based on information currently available to the Company and certain assumptions that the Company has judged to be reasonable, and are not intended as a guarantee of their realization. Actual results may differ significantly from the forecasts due to various factors.
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Contents of Appendix 1. Financial Highlights ……………………………………………………………………………………………………… 2 (1) Financial Results for the Three Months Ended June 30, 2026 (YoY Comparison) …………………………… 2 (2) Financial Results for the Three Months Ended June 30, 2026 (Progress toward the forecasts for the fiscal year ending March 31, 2027) …………………………………… 3 (3) Forecasts for the Fiscal Year Ending March 31, 2027 (YoY Comparison) …………………………………… 4 2. Overview of Operating Results and Financial Position ……………………………………………………………… 5 (1) Overview of Operating Results ……………………………………………………………………………………… 5 (2) Overview of Consolidated Financial Position ……………………………………………………………………… 5 3. Consolidated Financial Statements …………………………………………………………………………………… 6 (1) Consolidated Balance Sheet ………………………………………………………………………………………… 6 (2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ……………… 8 Consolidated Statement of Income ……………………………………………………………………………… 8 Consolidated Statement of Comprehensive Income …………………………………………………………… 9 (3) Notes to the Consolidated Financial Statements ………………………………………………………………… 10 Consolidated Segment Information ……………………………………………………………………………… 10 Significant Changes in Shareholders’ Equity …………………………………………………………………… 11 Uncertainties of Entity's Ability to Continue as Going Concern ………………………………………………… 11 Consolidated Statement of Cash Flows ………………………………………………………………………… 11 4. Supplementary Information …………………………………………………………………………………………… 12 (1) Breakdown of Net Sales and Operating Profit/Gross Profit for Domestic/Overseas Segments ……………… 12 (2) Breakdown of Non-consolidated Orders Received, Net Sales and Projects in Process ……………………… 14 (3) Non-consolidated Financial Statements …………………………………………………………………………… 17 Non-consolidated Balance Sheet ………………………………………………………………………………… 17 Non-consolidated Statement of Income ………………………………………………………………………… 19 1
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(Billions of yen) Consolidated Non-consolidated Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change % % % % Net sales of completed construction contracts 496.3 577.4 81.0 16.3 294.4 351.1 56.7 19.3 [ Building construction － － － － 219.4 257.9 38.5 17.6 Civil engineering － － － － 75.0 93.2 18.2 24.3 Gross profit on completed construction contracts 9.8 48.5 11.1 64.2 15.7 32.3 10.3 30.3 11.9 41.7 11.3 37.5 [ Building construction － － － － 9.5 20.9 11.4 29.5 8.5 41.0 Civil engineering － － － － 12.6 9.4 13.2 12.2 2.8 29.8 Net sales in real estate business and other 27.3 45.9 18.5 67.8 9.4 5.9 (3.4) (36.7) Gross profit on real estate business and other 21.0 5.7 28.9 13.2 7.5 130.7 16.2 1.5 14.4 0.8 (0.6) (43.6) Net sales 523.7 623.4 99.6 19.0 303.9 357.1 53.2 17.5 Gross profit 10.4 54.3 12.4 77.5 23.2 42.8 10.5 31.9 11.9 42.6 10.7 33.6 Selling, general and administrative expenses 7.4 38.5 7.2 44.8 6.3 16.4 8.1 24.6 7.7 27.5 2.8 11.7 (Personnel expenses) 21.2 24.1 2.8 12.6 14.0 1.3 (Others) 17.2 20.6 3.4 12.0 13.5 1.4 Operating profit 3.0 15.7 5.2 32.7 16.9 107.0 2.4 7.2 4.2 15.0 7.8 108.2 Non-operating income 4.2 5.4 1.1 27.6 32.9 23.4 (9.4) (28.8) Non-operating expenses 1.6 1.6 (0.0) (0.1) 0.8 0.8 (0.0) (7.6) Ordinary profit 3.5 18.3 5.8 36.4 18.0 98.2 12.9 39.2 10.6 37.7 (1.5) (4.0) Extraordinary income 8.9 20.1 11.1 125.0 8.8 20.0 11.1 125.8 Extraordinary losses 0.0 0.3 0.2 374.6 0.0 0.0 0.0 － Profit before income taxes 5.2 27.2 9.0 56.2 29.0 106.4 15.8 48.1 16.1 57.6 9.5 19.7 Total income taxes 8.6 16.1 7.4 85.6 6.3 11.0 4.7 75.1 Profit 18.5 40.1 21.5 116.1 － － － － Profit attributable to non-controlling interests (deduction) 0.5 1.0 0.5 106.8 － － － － Profit attributable to owners of parent (Non-consolidated: Profit) 3.5 18.0 6.3 39.0 21.0 116.3 13.8 41.8 13.1 46.6 4.7 11.4 Orders Received (Billions of yen) Consolidated Non-consolidated Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change Building construction 409.7 345.8 (63.8) (15.6) 176.7 289.5 112.8 63.8 Domestic 175.1 306.8 131.6 75.1 175.7 288.5 112.7 64.2 Overseas 234.5 39.0 (195.4) (83.4) 0.9 1.0 0.0 2.9 Civil engineering 168.4 199.6 31.2 18.5 46.2 62.9 16.6 36.1 Domestic 65.0 79.9 14.8 22.9 45.4 61.8 16.4 36.2 Overseas 103.3 119.6 16.3 15.8 0.8 1.1 0.2 29.5 Construction total 578.1 545.5 (32.6) (5.6) 223.0 352.5 129.5 58.1 Domestic 240.2 386.7 146.5 61.0 221.1 350.4 129.2 58.4 Overseas 337.8 158.7 (179.1) (53.0) 1.8 2.1 0.2 15.3 Real estate business and other 43.9 32.0 (11.9) (27.1) 9.4 5.9 (3.4) (36.7) Total orders received 622.0 577.5 (44.5) (7.2) 232.4 358.5 126.0 54.2 Interest-bearing Debt Balances (Billions of yen) Consolidated Non-consolidated Results As of March 31, 2026 Results As of June 30, 2026 Change % Change Results As of March 31, 2026 Results As of June 30, 2026 Change % Change Interest-bearing debt (except nonrecourse loans) 279.5 279.1 (0.4) (0.1) 173.4 171.6 (1.8) (1.0) Nonrecourse loans 64.4 63.6 (0.8) (1.2) － － － － Total interest-bearing debt 344.0 342.8 (1.2) (0.4) 173.4 171.6 (1.8) (1.0) 1. Financial Highlights (1) Financial Results for the Three Months Ended June 30, 2026 (YoY Comparison) 2
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(Billions of yen) Consolidated Non-consolidated Results Three Months Ended June 30, 2026 Forecasts Fiscal Year Ending March 31, 2027 % Progress Results Three Months Ended June 30, 2026 Forecasts Fiscal Year Ending March 31, 2027 % Progress % % % % Net sales of completed construction contracts 577.4 2,780.0 20.8 351.1 1,573.0 22.3 [ Building construction － － － 257.9 1,160.0 22.2 Civil engineering － － － 93.2 413.0 22.6 Gross profit on completed construction contracts 11.1 64.2 12.1 337.0 19.1 11.9 41.7 14.3 224.5 18.6 [ Building construction － － － 11.4 29.5 13.0 150.5 19.6 Civil engineering － － － 13.2 12.2 17.9 74.0 16.6 Net sales in real estate business and other 45.9 165.0 27.8 5.9 32.0 18.7 Gross profit on real estate business and other 28.9 13.2 23.6 39.0 34.0 14.4 0.8 17.2 5.5 15.7 Net sales 623.4 2,945.0 21.2 357.1 1,605.0 22.3 Gross profit 12.4 77.5 12.8 376.0 20.6 11.9 42.6 14.3 230.0 18.5 Selling, general and administrative expenses 7.2 44.8 6.7 196.0 22.9 7.7 27.5 7.1 115.0 24.0 (Personnel expenses) 24.1 102.0 14.0 58.0 (Others) 20.6 94.0 13.5 57.0 Operating profit 5.2 32.7 6.1 180.0 18.2 4.2 15.0 7.2 115.0 13.1 Non-operating income 5.4 12.0 45.0 23.4 28.0 83.8 Non-operating expenses 1.6 9.0 18.1 0.8 6.0 13.8 Ordinary profit 5.8 36.4 6.2 183.0 19.9 10.6 37.7 8.5 137.0 27.5 Extraordinary income 20.1 49.0 41.0 20.0 49.0 41.0 Extraordinary losses 0.3 4.0 7.5 0.0 3.0 3.1 Profit before income taxes 9.0 56.2 7.7 228.0 24.7 16.1 57.6 11.4 183.0 31.5 Total income taxes 16.1 65.5 24.6 11.0 52.0 21.2 Profit 40.1 162.5 24.7 － － － Profit attributable to non-controlling interests (deduction) 1.0 5.5 19.1 － － － Profit attributable to owners of parent (Non-consolidated: Profit) 6.3 39.0 5.3 157.0 24.9 13.1 46.6 8.2 131.0 35.6 Orders Received (Billions of yen) Consolidated Non-consolidated Results Three Months Ended June 30, 2026 Forecasts Fiscal Year Ending March 31, 2027 % Progress Results Three Months Ended June 30, 2026 Forecasts Fiscal Year Ending March 31, 2027 % Progress Building construction 345.8 1,890.0 18.3 289.5 1,250.0 23.2 Domestic 306.8 1,315.0 23.3 288.5 1,240.0 23.3 Overseas 39.0 575.0 6.8 1.0 10.0 10.2 Civil engineering 199.6 1,070.0 18.7 62.9 397.0 15.9 Domestic 79.9 440.0 18.2 61.8 350.0 17.7 Overseas 119.6 630.0 19.0 1.1 47.0 2.4 Construction total 545.5 2,960.0 18.4 352.5 1,647.0 21.4 Domestic 386.7 1,755.0 22.0 350.4 1,590.0 22.0 Overseas 158.7 1,205.0 13.2 2.1 57.0 3.8 Real estate business and other 32.0 140.0 22.9 5.9 33.0 18.2 Total orders received 577.5 3,100.0 18.6 358.5 1,680.0 21.3 (2) Financial Results for the Three Months Ended June 30, 2026 (Progress toward the forecasts for the fiscal year ending March 31, 2027) Note: There have been no revisions to the forecasts previously announced on May 13, 2026. Note: There have been no revisions to the forecasts previously announced on May 13, 2026. 3
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(Billions of yen) Consolidated Non-consolidated Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change % % % % Net sales of completed construction contracts 2,409.3 2,780.0 370.6 15.4 1,474.0 1,573.0 98.9 6.7 [ Building construction － － － － 1,104.2 1,160.0 55.7 5.0 Civil engineering － － － － 369.7 413.0 43.2 11.7 Gross profit on completed construction contracts 13.6 328.7 12.1 337.0 8.2 2.5 15.5 228.2 14.3 224.5 (3.7) (1.6) [ Building construction － － － － 14.8 163.6 13.0 150.5 (13.1) (8.0) Civil engineering － － － － 17.5 64.5 17.9 74.0 9.4 14.6 Net sales in real estate business and other 176.8 165.0 (11.8) (6.7) 35.9 32.0 (3.9) (11.1) Gross profit on real estate business and other 20.3 35.9 23.6 39.0 3.0 8.4 17.4 6.2 17.2 5.5 (0.7) (12.1) Net sales 2,586.2 2,945.0 358.7 13.9 1,509.9 1,605.0 95.0 6.3 Gross profit 14.1 364.6 12.8 376.0 11.3 3.1 15.5 234.4 14.3 230.0 (4.4) (1.9) Selling, general and administrative expenses 6.6 170.0 6.7 196.0 25.9 15.3 6.9 104.5 7.1 115.0 10.4 10.0 (Personnel expenses) 91.4 102.0 10.5 51.8 58.0 6.1 (Others) 78.5 94.0 15.4 52.6 57.0 4.3 Operating profit 7.5 194.6 6.1 180.0 (14.6) (7.5) 8.6 129.9 7.2 115.0 (14.9) (11.5) Non-operating income 19.2 12.0 (7.2) (37.8) 50.3 28.0 (22.3) (44.4) Non-operating expenses 9.7 9.0 (0.7) (7.9) 5.7 6.0 0.2 4.7 Ordinary profit 7.9 204.1 6.2 183.0 (21.1) (10.4) 11.6 174.6 8.5 137.0 (37.6) (21.5) Extraordinary income 49.8 49.0 (0.8) (1.7) 52.0 49.0 (3.0) (5.9) Extraordinary losses 4.6 4.0 (0.6) (13.6) 7.3 3.0 (4.3) (59.1) Profit before income taxes 9.6 249.4 7.7 228.0 (21.4) (8.6) 14.5 219.3 11.4 183.0 (36.3) (16.6) Total income taxes 71.6 65.5 (6.1) (8.6) 56.4 52.0 (4.4) (8.0) Profit 177.7 162.5 (15.2) (8.6) － － － － Profit attributable to non-controlling interests (deduction) 4.0 5.5 1.4 37.4 － － － － Profit attributable to owners of parent (Non-consolidated: Profit) 6.7 173.7 5.3 157.0 (16.7) (9.6) 10.8 162.8 8.2 131.0 (31.8) (19.6) Orders Received (Billions of yen) Consolidated Non-consolidated Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change Building construction 1,989.0 1,890.0 (99.0) (5.0) 1,164.9 1,250.0 85.0 7.3 Domestic 1,200.9 1,315.0 114.0 9.5 1,161.3 1,240.0 78.6 6.8 Overseas 788.1 575.0 (213.1) (27.0) 3.5 10.0 6.4 178.5 Civil engineering 860.7 1,070.0 209.2 24.3 439.9 397.0 (42.9) (9.8) Domestic 444.2 440.0 (4.2) (1.0) 351.9 350.0 (1.9) (0.5) Overseas 416.5 630.0 213.4 51.2 88.0 47.0 (41.0) (46.6) Construction total 2,849.8 2,960.0 110.1 3.9 1,604.8 1,647.0 42.1 2.6 Domestic 1,645.1 1,755.0 109.8 6.7 1,513.2 1,590.0 76.7 5.1 Overseas 1,204.6 1,205.0 0.3 0.0 91.6 57.0 (34.6) (37.8) Real estate business and other 159.2 140.0 (19.2) (12.1) 36.7 33.0 (3.7) (10.2) Total orders received 3,009.0 3,100.0 90.9 3.0 1,641.6 1,680.0 38.3 2.3 Interest-bearing Debt Balances (Billions of yen) Consolidated Non-consolidated Results As of March 31, 2026 Forecasts As of March 31, 2027 Change % Change Results As of March 31, 2026 Forecasts As of March 31, 2027 Change % Change Interest-bearing debt (except nonrecourse loans) 279.5 270.0 (9.5) (3.4) 173.4 170.0 (3.4) (2.0) Nonrecourse loans 64.4 60.0 (4.4) (7.0) － － － － Total interest-bearing debt 344.0 330.0 (14.0) (4.1) 173.4 170.0 (3.4) (2.0) (3) Forecasts for the Fiscal Year Ending March 31, 2027 (YoY Comparison) Note: There have been no revisions to the forecasts previously announced on May 13, 2026. Note: There have been no revisions to the forecasts previously announced on May 13, 2026. Note: There have been no revisions to the forecasts previously announced on May 13, 2026. 4
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2. Overview of Operating Results and Financial Position (1) Overview of Operating Results Consolidated net sales for the first three months of the fiscal year ending March 31, 2027 (from April 1 to June 30, 2026), amounted to 623.4 billion yen, an increase of 99.6 billion yen (19.0%) from the same period of the previous fiscal year. This was mainly due to steady progress with the substantial volume of projects in hand in the domestic building construction, domestic civil engineering and overseas civil engineering businesses, consolidation of GCON, LLC, acquired in December 2025, in the overseas building construction business, and sales of properties in the real estate business. In terms of profit and loss, operating profit amounted to 32.7 billion yen, an increase of 16.9 billion yen (107.0%) from the same period of the previous fiscal year. Ordinary profit amounted to 36.4 billion yen, an increase of 18.0 billion yen (98.2%) year-on-year. These were mainly due to most projects for which provision for loss on construction contracts had been recognized being nearly completed, resulting in a greater contribution from highly profitable construction projects in the domestic building construction business, as well as the sales of properties in the real estate business. Profit attributable to owners of parent amounted to 39.0 billion yen, an increase of 21.0 billion yen (116.3%) year-on-year, mainly due to the increase in operating profit, as well as an increase in the gain on the sale of cross-shareholdings. (2) Overview of Consolidated Financial Position Total assets decreased by 80.4 billion yen (2.6%) compared with the balance at the end of the previous fiscal year, amounting to 3,063.0 billion yen as of June 30, 2026. This was mainly due to decreases in trade receivables related to construction contracts (the sum of notes receivable, accounts receivable from completed construction contracts and other and electronically recorded monetary claims) and in investment securities mainly due to the sale of cross-shareholdings, despite an increase in cash and deposits. Total liabilities decreased by 63.6 billion yen (3.5%) compared with the balance at the end of the previous fiscal year, amounting to 1,763.2 billion yen as of June 30, 2026. This was mainly due to a decrease in trade payables related to construction costs (the sum of notes payable, accounts payable for construction contracts and other and electronically recorded obligations). The balance of interest-bearing debt decreased by 1.2 billion yen (0.4%) compared with the balance at the end of the previous fiscal year, amounting to 342.8 billion yen as of June 30, 2026. Total net assets decreased by 16.7 billion yen (1.3%) compared with the balance at the end of the previous fiscal year, amounting to 1,299.7 billion yen as of June 30, 2026. This was mainly due to a decrease in valuation difference on available-for-sale securities despite an increase in retained earnings from the recognition of profit attributable to owners of parent . As a result, the equity-to-asset ratio as of June 30, 2026, was 40.6%, up 0.6 percentage points from the end of the previous fiscal year. 5
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(Millions of yen) March 31, 2026 June 30, 2026 Assets Current assets Cash and deposits 430,885 457,543 Notes receivable, accounts receivable from completed construction contracts and other 1,083,224 976,366 Electronically recorded monetary claims - operating 15,112 9,747 Securities 9,791 9,687 Real estate for sale 24,103 28,709 Costs on construction contracts in progress 49,758 56,707 Costs on real estate business 38,274 29,613 Inventories for PFI and other projects 1,545 1,118 Other inventories 12,568 19,579 Accounts receivable - other 89,594 83,901 Other 30,555 60,073 Allowance for doubtful accounts (6,871) (6,531) Total current assets 1,778,543 1,726,518 Non-current assets Property, plant and equipment Buildings and structures, net 230,151 220,685 Machinery, vehicles, tools, furniture and fixtures, net 83,082 82,319 Land 453,952 462,216 Leased assets, net 7,223 7,244 Construction in progress 18,557 23,645 Total property, plant and equipment 792,967 796,111 Intangible assets 63,111 63,126 Investments and other assets Investment securities 339,322 301,692 Long-term loans receivable 3,070 3,047 Deferred tax assets 2,152 4,142 Retirement benefit asset 13,688 13,499 Other 150,811 155,114 Allowance for doubtful accounts (217) (217) Total investments and other assets 508,827 477,280 Total non-current assets 1,364,906 1,336,518 Total assets 3,143,449 3,063,036 3. Consolidated Financial Statements (1) Consolidated Balance Sheet 6
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(Millions of yen) March 31, 2026 June 30, 2026 Liabilities Current liabilities Notes payable, accounts payable for construction contracts and other 594,367 521,993 Electronically recorded obligations - operating 87,635 77,437 Short-term borrowings 75,203 78,405 Current portion of nonrecourse loans 8,510 9,321 Current portion of bonds payable 66 20,066 Lease liabilities 2,950 3,058 Income taxes payable 41,810 24,925 Advances received on construction contracts in progress 299,979 319,160 Deposits received 195,692 216,506 Provision for warranties for completed construction 2,977 3,021 Provision for loss on construction contracts 8,575 7,881 Other 111,757 122,650 Total current liabilities 1,429,526 1,404,427 Non-current liabilities Bonds payable 60,009 40,009 Long-term borrowings 144,299 140,693 Nonrecourse loans 55,977 54,362 Lease liabilities 9,464 9,748 Deferred tax liabilities 23,859 10,871 Deferred tax liabilities for land revaluation 17,736 17,736 Provision for share awards for directors (and other officers) 703 703 Retirement benefit liability 50,528 50,564 Other 34,877 34,177 Total non-current liabilities 397,457 358,866 Total liabilities 1,826,983 1,763,294 Net assets Shareholders' equity Share capital 57,752 57,752 Capital surplus 41,288 41,312 Retained earnings 905,459 912,204 Treasury shares (9,514) (9,518) Total shareholders' equity 994,986 1,001,751 Accumulated other comprehensive income Valuation difference on available-for-sale securities 147,730 123,936 Deferred gains or losses on hedges 21,776 24,083 Revaluation reserve for land 21,278 21,278 Foreign currency translation adjustment 65,396 66,386 Remeasurements of defined benefit plans 7,255 7,000 Total accumulated other comprehensive income 263,438 242,686 Non-controlling interests 58,041 55,305 Total net assets 1,316,466 1,299,742 Total liabilities and net assets 3,143,449 3,063,036 7
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Consolidated Statement of Income (Millions of yen) April 1, 2025 - June 30, 2025 April 1, 2026 - June 30, 2026 Net sales Net sales of completed construction contracts 496,392 577,492 Net sales in real estate business and other 27,370 45,937 Total net sales 523,763 623,429 Cost of sales Cost of sales of completed construction contracts 447,828 513,220 Cost of sales in real estate business and other 21,620 32,670 Total cost of sales 469,449 545,891 Gross profit Gross profit on completed construction contracts 48,563 64,271 Gross profit on real estate business and other 5,749 13,266 Total gross profit 54,313 77,538 Selling, general and administrative expenses 38,515 44,838 Operating profit 15,798 32,700 Non-operating income Interest income 1,056 1,303 Dividend income 2,813 2,615 Other 361 1,482 Total non-operating income 4,232 5,401 Non-operating expenses Interest expenses 1,235 1,448 Other 398 184 Total non-operating expenses 1,633 1,632 Ordinary profit 18,396 36,468 Extraordinary income Gain on sale of investment securities 8,585 20,064 Other 353 46 Total extraordinary income 8,938 20,110 Extraordinary losses 63 301 Profit before income taxes 27,271 56,277 Income taxes - current 9,674 20,321 Income taxes - deferred (980) (4,185) Total income taxes 8,693 16,135 Profit 18,578 40,142 Profit attributable to non-controlling interests 507 1,050 Profit attributable to owners of parent 18,070 39,091 (2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income 8
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Consolidated Statement of Comprehensive Income (Millions of yen) April 1, 2025 - June 30, 2025 April 1, 2026 - June 30, 2026 Profit 18,578 40,142 Other comprehensive income Valuation difference on available-for-sale securities (1,649) (23,799) Deferred gains or losses on hedges (991) 661 Foreign currency translation adjustment (11,884) 241 Remeasurements of defined benefit plans, net of tax (122) (254) Share of other comprehensive income of entities accounted for using equity method 707 1,718 Total other comprehensive income (13,940) (21,433) Comprehensive income 4,637 18,708 Comprehensive income attributable to owners of parent 6,583 18,339 Comprehensive income attributable to non-controlling interests (1,946) 369 9
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For the Three Months Ended June 30, 2025 (Millions of yen) Reporting segment Others *1 TotalDomestic Building Construction Overseas Building Construction Domestic Civil Engineering Overseas Civil Engineering Real Estate Subtotal Net sales Sales to external customers 227,294 114,835 90,317 63,945 10,448 506,840 16,922 523,763 Transactions with other segments 4,910 10 3,170 － 205 8,296 3,353 11,649 Segment sales 232,204 114,845 93,487 63,945 10,654 515,137 20,275 535,412 Operating profit Operating profit from sales to external customers *2 5,001 2,896 3,081 2,276 1,440 14,696 1,102 15,798 Transactions with other segments 178 (363) (38) 352 (7) 122 (16) 105 Segment profit 5,179 2,533 3,043 2,629 1,432 14,818 1,085 15,903 For the Three Months Ended June 30, 2026 (Millions of yen) Reporting segment Others *1 TotalDomestic Building Construction Overseas Building Construction Domestic Civil Engineering Overseas Civil Engineering Real Estate Subtotal Net sales Sales to external customers 264,387 130,608 102,904 79,592 30,488 607,980 15,449 623,429 Transactions with other segments 7,020 408 3,481 － 214 11,123 3,817 14,941 Segment sales 271,407 131,016 106,385 79,592 30,702 619,104 19,267 638,371 Operating profit Operating profit from sales to external customers *2 13,254 1,328 4,738 3,532 9,538 32,392 307 32,700 Transactions with other segments 37 88 (32) (121) (9) (37) (16) (53) Segment profit 13,292 1,416 4,706 3,410 9,529 32,355 291 32,646 (3) Notes to the Consolidated Financial Statements Consolidated Segment Information: (i) Disclosure of sales and profit (loss) for each reportable segment *1 Businesses that cannot be classified into the reportable segments are shown as others. These include PFI (Private Finance Initiative), renewable energy, finance and other businesses. *2 Operating profit from sales to external customers is computed by subtracting transactions with other segments. The total operating profit from sales to external customers equals operating profit as shown in the consolidated statement of income. *1 Businesses that cannot be classified into the reportable segments are shown as others. These include PFI (Private Finance Initiative), renewable energy, finance and other businesses. *2 Operating profit from sales to external customers is computed by subtracting transactions with other segments. The total operating profit from sales to external customers equals operating profit as shown in the consolidated statement of income. 10
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(Millions of yen) Profit April 1, 2025 - June 30, 2025 April 1, 2026 - June 30, 2026 Total reportable segment 14,818 32,355 Profit from others 1,085 291 Elimination of transactions with other segments (105) 53 Operating profit in the consolidated statement of income 15,798 32,700 (ii) Description of Nature and Amounts of Differences between Total Reportable Segment Profit (loss) and the Consolidated Statement of Income Significant Changes in Shareholders’ Equity: There are no applicable items. Uncertainties of Entity's Ability to Continue as Going Concern: There are no applicable items. (Millions of yen) April 1, 2025 - June 30, 2025 April 1, 2026 - June 30, 2026 Depreciation and amortization 8,550 9,285 Amortization of goodwill 424 813 Consolidated Statement of Cash Flows: No quarterly consolidated statement of cash flows has been prepared for the first quarter of the current consolidated fiscal year. Depreciation and amortization (including amortization of intangible assets excluding goodwill) and amortization of goodwill for the first quarter of the current consolidated fiscal year are as follows: 11
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【Consolidated】 (Millions of yen) Net Sales Operating Profit Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change % Profit % Profit Building Construction Domestic 227,294 264,387 37,092 16.3 2.2 5,001 5.0 13,254 8,253 165.0 Overseas 114,835 130,608 15,772 13.7 2.5 2,896 1.0 1,328 (1,567) (54.1) Subtotal 342,129 394,995 52,865 15.5 2.3 7,897 3.7 14,583 6,685 84.7 Civil Engineering Domestic 90,317 102,904 12,586 13.9 3.4 3,081 4.6 4,738 1,656 53.7 Overseas 63,945 79,592 15,646 24.5 3.6 2,276 4.4 3,532 1,256 55.2 Subtotal 154,262 182,496 28,233 18.3 3.5 5,358 4.5 8,270 2,912 54.4 Construction Total Domestic 317,612 367,291 49,679 15.6 2.5 8,082 4.9 17,992 9,909 122.6 Overseas 178,780 210,200 31,419 17.6 2.9 5,172 2.3 4,860 (311) (6.0) Subtotal 496,392 577,492 81,099 16.3 2.7 13,255 4.0 22,853 9,598 72.4 Real Estate Business and Other Real Estate Business 10,448 30,488 20,039 191.8 13.8 1,440 31.3 9,538 8,098 562.1 Other 16,922 15,449 (1,472) (8.7) 6.5 1,102 2.0 307 (794) (72.1) Subtotal 27,370 45,937 18,567 67.8 9.3 2,542 21.4 9,846 7,303 287.2 Total 523,763 623,429 99,666 19.0 3.0 15,798 5.2 32,700 16,901 107.0 【Non-consolidated】 (Millions of yen) Net Sales Gross Profit Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change % Change % Gross Profit % Gross Profit Building Construction Domestic 217,549 254,236 36,686 16.9 9.4 20,481 11.6 29,412 8,930 43.6 Overseas 1,891 3,734 1,843 97.4 23.3 441 2.4 88 (352) (79.9) Subtotal 219,441 257,970 38,529 17.6 9.5 20,922 11.4 29,501 8,578 41.0 Civil Engineering Domestic 71,015 84,340 13,324 18.8 12.5 8,886 13.6 11,504 2,618 29.5 Overseas 4,005 8,883 4,878 121.8 14.1 565 8.6 765 200 35.4 Subtotal 75,020 93,223 18,202 24.3 12.6 9,451 13.2 12,270 2,818 29.8 Construction Total Domestic 288,565 338,576 50,010 17.3 10.2 29,367 12.1 40,917 11,549 39.3 Overseas 5,896 12,618 6,721 114.0 17.1 1,006 6.8 854 (152) (15.1) Subtotal 294,462 351,194 56,732 19.3 10.3 30,374 11.9 41,771 11,397 37.5 Real Estate Business and Other 9,470 5,993 (3,476) (36.7) 16.2 1,533 14.4 864 (668) (43.6) Total 303,932 357,188 53,255 17.5 10.5 31,907 11.9 42,635 10,728 33.6 4. Supplementary Information (1) Breakdown of Net Sales and Operating Profit/Gross Profit for Domestic/Overseas Segments (i) Operating Results for the Three Months Ended June 30, 2026 (YoY Comparison) Note: Consolidated net sales and operating profit show the sales and operating profit to external customers. 12
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【Consolidated】 (Millions of yen) Net Sales Operating profit Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change % Profit % Profit Building Construction Domestic 1,138,762 1,200,000 61,237 5.4 9.1 104,088 6.8 82,000 (22,088) (21.2) Overseas 507,992 690,000 182,007 35.8 2.4 11,999 1.8 12,500 500 4.2 Subtotal 1,646,755 1,890,000 243,244 14.8 7.0 116,088 5.0 94,500 (21,588) (18.6) Civil Engineering Domestic 426,623 460,000 33,376 7.8 9.6 40,925 10.0 46,000 5,074 12.4 Overseas 336,000 430,000 93,999 28.0 4.4 14,769 3.5 15,000 230 1.6 Subtotal 762,623 890,000 127,376 16.7 7.3 55,694 6.9 61,000 5,305 9.5 Construction Total Domestic 1,565,386 1,660,000 94,613 6.0 9.3 145,014 7.7 128,000 (17,014) (11.7) Overseas 843,992 1,120,000 276,007 32.7 3.2 26,768 2.5 27,500 731 2.7 Subtotal 2,409,378 2,780,000 370,621 15.4 7.1 171,782 5.6 155,500 (16,282) (9.5) Real Estate Business and Other Real Estate Business 106,798 85,000 (21,798) (20.4) 18.7 19,978 26.5 22,500 2,521 12.6 Other 70,082 80,000 9,917 14.2 4.2 2,917 2.5 2,000 (917) (31.4) Subtotal 176,880 165,000 (11,880) (6.7) 12.9 22,896 14.8 24,500 1,603 7.0 Total 2,586,258 2,945,000 358,741 13.9 7.5 194,678 6.1 180,000 (14,678) (7.5) 【Non-consolidated】 (Millions of yen) Net Sales Gross Profit Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change Results Fiscal Year Ended March 31, 2026 Forecasts Fiscal Year Ending March 31, 2027 Change % Change % Gross Profit % Gross Profit Building Construction Domestic 1,094,777 1,150,000 55,222 5.0 14.9 162,947 13.0 150,000 (12,947) (7.9) Overseas 9,503 10,000 496 5.2 7.1 677 5.0 500 (177) (26.1) Subtotal 1,104,281 1,160,000 55,718 5.0 14.8 163,624 13.0 150,500 (13,124) (8.0) Civil Engineering Domestic 340,037 370,000 29,962 8.8 18.0 61,346 18.9 70,000 8,653 14.1 Overseas 29,684 43,000 13,315 44.9 10.9 3,228 9.3 4,000 771 23.9 Subtotal 369,721 413,000 43,278 11.7 17.5 64,575 17.9 74,000 9,424 14.6 Construction Total Domestic 1,434,815 1,520,000 85,184 5.9 15.6 224,294 14.5 220,000 (4,294) (1.9) Overseas 39,188 53,000 13,811 35.2 10.0 3,905 8.5 4,500 594 15.2 Subtotal 1,474,003 1,573,000 98,996 6.7 15.5 228,200 14.3 224,500 (3,700) (1.6) Real Estate Business and Other 35,987 32,000 (3,987) (11.1) 17.4 6,258 17.2 5,500 (758) (12.1) Total 1,509,991 1,605,000 95,008 6.3 15.5 234,458 14.3 230,000 (4,458) (1.9) (ii) Forecasts for the Fiscal Year Ending March 31, 2027 (YoY Comparison) Notes: 1. Consolidated net sales and operating profit show the sales and operating profit to external customers. 2. There have been no revisions to the forecasts previously announced on May 13, 2026. Note: There have been no revisions to the forecasts previously announced on May 13, 2026. 13
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(Millions of yen) Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change Results Fiscal Year Ended March 31, 2026 % of Total % of Total % Change % of Total Building Construction Domestic Public 1,901 0.8 132,897 37.1 130,996 － 72,030 4.4 Domestic Private 173,865 74.8 155,663 43.4 (18,201) (10.5) 1,089,338 66.3 Domestic Total 175,767 75.6 288,561 80.5 112,794 64.2 1,161,368 70.7 Overseas 992 0.4 1,021 0.3 29 2.9 3,591 0.2 Subtotal 176,759 76.0 289,583 80.8 112,823 63.8 1,164,959 70.9 Civil Engineering Domestic Public 29,278 12.6 35,202 9.8 5,923 20.2 216,363 13.2 Domestic Private 16,124 6.9 26,645 7.4 10,520 65.2 135,551 8.3 Domestic Total 45,403 19.5 61,848 17.2 16,444 36.2 351,915 21.5 Overseas 864 0.4 1,119 0.3 255 29.5 88,016 5.4 Subtotal 46,268 19.9 62,968 17.5 16,699 36.1 439,931 26.9 Construction Total Domestic Public 31,180 13.4 168,100 46.9 136,920 439.1 288,393 17.6 Domestic Private 189,990 81.7 182,309 50.8 (7,680) (4.0) 1,224,889 74.6 Domestic Total 221,170 95.1 350,410 97.7 129,239 58.4 1,513,283 92.2 Overseas 1,857 0.8 2,141 0.6 284 15.3 91,607 5.6 Subtotal 223,027 95.9 352,551 98.3 129,523 58.1 1,604,891 97.8 Real Estate Business and Other 9,470 4.1 5,993 1.7 (3,476) (36.7) 36,754 2.2 Total 232,497 100 358,545 100 126,047 54.2 1,641,646 100 (2) Breakdown of Non-consolidated Orders Received, Net Sales and Projects in Process (i) Breakdown of Non-consolidated Orders Received 14
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(Millions of yen) Results Three Months Ended June 30, 2025 Results Three Months Ended June 30, 2026 Change Results Fiscal Year Ended March 31, 2026 % of Total % of Total % Change % of Total Building Construction Domestic Public 9,260 3.1 13,517 3.8 4,256 46.0 59,444 3.9 Domestic Private 208,288 68.5 240,718 67.4 32,429 15.6 1,035,332 68.6 Domestic Total 217,549 71.6 254,236 71.2 36,686 16.9 1,094,777 72.5 Overseas 1,891 0.6 3,734 1.0 1,843 97.4 9,503 0.6 Subtotal 219,441 72.2 257,970 72.2 38,529 17.6 1,104,281 73.1 Civil Engineering Domestic Public 49,235 16.2 53,943 15.1 4,708 9.6 221,697 14.7 Domestic Private 21,780 7.2 30,396 8.5 8,616 39.6 118,339 7.8 Domestic Total 71,015 23.4 84,340 23.6 13,324 18.8 340,037 22.5 Overseas 4,005 1.3 8,883 2.5 4,878 121.8 29,684 2.0 Subtotal 75,020 24.7 93,223 26.1 18,202 24.3 369,721 24.5 Construction Total Domestic Public 58,495 19.3 67,460 18.9 8,964 15.3 281,142 18.6 Domestic Private 230,069 75.7 271,115 75.9 41,046 17.8 1,153,672 76.4 Domestic Total 288,565 95.0 338,576 94.8 50,010 17.3 1,434,815 95.0 Overseas 5,896 1.9 12,618 3.5 6,721 114.0 39,188 2.6 Subtotal 294,462 96.9 351,194 98.3 56,732 19.3 1,474,003 97.6 Real Estate Business and Other 9,470 3.1 5,993 1.7 (3,476) (36.7) 35,987 2.4 Total 303,932 100 357,188 100 53,255 17.5 1,509,991 100 (ii) Breakdown of Non-consolidated Net Sales 15
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(Millions of yen) Results As of June 30, 2025 Results As of June 30, 2026 Change Results As of March 31, 2026 % of Total % of Total % Change % of Total Building Construction Domestic Public 144,783 5.3 284,108 9.8 139,324 96.2 164,727 5.7 Domestic Private 1,724,266 63.7 1,727,641 59.3 3,374 0.2 1,812,696 62.3 Domestic Total 1,869,050 69.0 2,011,749 69.1 142,699 7.6 1,977,423 68.0 Overseas 13,568 0.5 5,842 0.2 (7,726) (56.9) 8,555 0.3 Subtotal 1,882,618 69.5 2,017,591 69.3 134,972 7.2 1,985,978 68.3 Civil Engineering Domestic Public 456,153 16.9 452,034 15.5 (4,118) (0.9) 470,775 16.2 Domestic Private 257,636 9.5 276,753 9.5 19,116 7.4 280,504 9.6 Domestic Total 713,789 26.4 728,788 25.0 14,998 2.1 751,279 25.8 Overseas 111,501 4.1 165,210 5.7 53,708 48.2 172,974 5.9 Subtotal 825,291 30.5 893,998 30.7 68,706 8.3 924,254 31.7 Construction Total Domestic Public 600,936 22.2 736,143 25.3 135,206 22.5 635,503 21.9 Domestic Private 1,981,903 73.2 2,004,394 68.8 22,491 1.1 2,093,200 71.9 Domestic Total 2,582,840 95.4 2,740,537 94.1 157,697 6.1 2,728,703 93.8 Overseas 125,070 4.6 171,052 5.9 45,981 36.8 181,529 6.2 Subtotal 2,707,910 100 2,911,589 100.0 203,679 7.5 2,910,232 100.0 Real Estate Business and Other － － 766 0.0 766 － 766 0.0 Total 2,707,910 100 2,912,356 100 204,446 7.5 2,910,999 100 (iii) Breakdown of Non-consolidated Projects in Process 16
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Non-consolidated Balance Sheet (Millions of yen) March 31, 2026 June 30, 2026 Assets Current assets Cash and deposits 182,981 219,770 Notes receivable - trade 3,117 － Electronically recorded monetary claims - operating 12,830 7,843 Accounts receivable from completed construction contracts 756,465 644,705 Accounts receivable - real estate business and other 9,600 3,696 Real estate for sale 3,026 3,535 Costs on construction contracts in progress 46,508 51,494 Costs on real estate business and other 4,198 5,896 Short-term loans receivable 16,401 6,233 Accounts receivable - other 75,690 71,779 Other 50,489 93,154 Allowance for doubtful accounts (85) (69) Total current assets 1,161,225 1,108,039 Non-current assets Property, plant and equipment Buildings and structures 83,494 82,523 Machinery, equipment and vehicles 15,654 15,321 Tools, furniture and fixtures 4,385 4,460 Land 197,325 197,330 Leased assets 19 18 Construction in progress 3,963 4,163 Total property, plant and equipment 304,843 303,817 Intangible assets 8,942 8,848 Investments and other assets Investment securities 296,864 259,725 Shares and investments in capital of subsidiaries and associates 309,227 316,868 Long-term loans receivable 9,257 7,607 Distressed receivables 610 610 Prepaid pension costs 3,471 3,602 Deferred tax assets － 3,128 Other 8,441 8,380 Allowance for doubtful accounts (1,789) (1,789) Total investments and other assets 626,082 598,133 Total non-current assets 939,868 910,799 Total assets 2,101,094 2,018,838 (3) Non-consolidated Financial Statements 17
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(Millions of yen) March 31, 2026 June 30, 2026 Liabilities Current liabilities Notes payable - trade 805 564 Electronically recorded obligations - operating 92,111 80,237 Accounts payable for construction contracts 386,743 334,230 Accounts payable - real estate business and other 2,921 2,688 Short-term borrowings 44,650 50,207 Current portion of bonds payable － 20,000 Lease liabilities 5 7 Accounts payable - other 9,205 4,503 Accrued expenses 29,168 43,506 Income taxes payable 34,936 19,520 Advances received on construction contracts in progress 197,949 195,794 Deposits received - real estate business and other 5,679 5,140 Deposits received 178,077 196,570 Provision for warranties for completed construction 2,324 2,400 Provision for loss on construction contracts 6,840 6,143 Deposits received from employees 23,921 23,077 Other 1,629 1,108 Total current liabilities 1,016,969 985,699 Non-current liabilities Bonds payable 60,000 40,000 Long-term borrowings 68,792 61,420 Lease liabilities 16 12 Deferred tax liabilities 13,264 － Deferred tax liabilities for land revaluation 14,600 14,600 Provision for retirement benefits 42,595 42,563 Provision for share awards for directors (and other officers) 703 703 Provision for loss on business of subsidiaries and associates 2,001 2,001 Other 8,961 8,113 Total non-current liabilities 210,936 169,415 Total liabilities 1,227,905 1,155,114 Net assets Shareholders' equity Share capital 57,752 57,752 Capital surplus Legal capital surplus 41,694 41,694 Total capital surplus 41,694 41,694 Retained earnings Legal retained earnings 14,438 14,438 Other retained earnings Reserve for tax purpose reduction entry of non-current assets 2,177 2,167 General reserve 460,000 460,000 Retained earnings brought forward 142,060 156,354 Total retained earnings 618,676 632,960 Treasury shares (9,514) (9,518) Total shareholders' equity 708,608 722,889 Valuation and translation adjustments Valuation difference on available-for-sale securities 147,834 124,089 Revaluation reserve for land 16,745 16,745 Total valuation and translation adjustments 164,580 140,834 Total net assets 873,189 863,724 Total liabilities and net assets 2,101,094 2,018,838 18
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Non-consolidated Statement of Income (Millions of yen) April 1, 2025 - June 30, 2025 April 1, 2026 - June 30, 2026 Net sales Net sales of completed construction contracts 294,462 351,194 Net sales in real estate business and other 9,470 5,993 Total net sales 303,932 357,188 Cost of sales Cost of sales of completed construction contracts 264,088 309,423 Cost of sales in real estate business and other 7,936 5,128 Total cost of sales 272,025 314,552 Gross profit Gross profit on completed construction contracts 30,374 41,771 Gross profit on real estate business and other 1,533 864 Total gross profit 31,907 42,635 Selling, general and administrative expenses 24,671 27,569 Operating profit 7,236 15,066 Non-operating income Interest and dividend income 32,269 22,396 Other 678 1,065 Total non-operating income 32,948 23,462 Non-operating expenses Interest expenses 334 522 Other 561 304 Total non-operating expenses 895 827 Ordinary profit 39,288 37,702 Extraordinary income Gain on sale of investment securities 8,585 20,064 Other 301 1 Total extraordinary income 8,886 20,066 Extraordinary losses 5 92 Profit before income taxes 48,169 57,675 Income taxes - current 7,484 16,567 Income taxes - deferred (1,178) (5,523) Total income taxes 6,305 11,044 Profit 41,863 46,631 19