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Copyright©2025 CHUDENKO Corporation.All Rights Reserved Presenter: Takafumi Shigeto Representative Director and President Financial Results Briefing for the Second Quarter (Q2) of the Fiscal Year Ending March 31, 2026 (FY2025) December 3, 2025 TSE Prime (Securities Code: 1941)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved1 FY2025 Q2 Performance１ FY2025 Earnings Forecasts2 Overview of Medium-Term Management Plan 2027 (FY2025–2027)3 Management Measures Considering Capital Costs and Share Price4 Shareholder Returns5 References (Company Profile, etc.)6 Briefing Topics
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved2 １．FY2025 Q2 Performance
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved3 YoY FY2025 Q2FY2024 Q2Consolidated Performance RatioChange 97%-2.495.798.2Net sales 93%-5.376.682.0Cost of sales 118%2.919.1（20.0%）16.2（16.5%）Gross profit 106%0.58.58.0Selling, general and administrative expenses 129%2.410.5（11.1%）8.1（8.3%）Operating profit 120%1.810.9（11.4%）9.1（9.3%）Ordinary profit 122%1.37.2（7.6%）5.9（6.1%）Profit attributable to owners of parent FY2025 Q2 Performance（Consolidated) Note: Figures in ( ) are profit margins. Year-on-year decrease in sales and increase in profit Net sales decreased due to lower progress rates on large-scale construction projects compared to the same period last year, but still reached the second-highest interim figure on record Each profit line increased due to thorough cost management, improved construction efficiency, and company-wide efforts to further reduce costs Each profit line achieved record highs for an interim period (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved4 Net sales decreased but remained at high levels Profits steadily improved 37.6 45.6 44.4 45.0 52.5 51.3 3.8 3.4 6.8 4.7 6.0 9.3 -0.5 2.8 4.2 2.0 5.3 6.3 Quarterly Performance Comparison (Consolidated) Gross Profit (Profit Margin) Operating Profit (19.4%) (13.4%) (20.5%) FY2023 FY2024 FY2025 FY2023 FY2024 FY2025 Q1 (April-June) Q2 (July-September) (15.1%) (17.8%) Net Sales (9.0%) (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved5 Breakdown of Year-on-Year Change in Operating Profit (Consolidated) (Billions of yen) Indoor Electrical Breakdown of Year-on-Year Changes in Operating Profit (-¥2.4 billion) General Work Electric Power 95.7billion FY2025 Q2 Net Sales CHUDENKO Parent（-3.4 billion） Consolidated Subsidiaries（+9.0 billion） Urban Area Subsidiaries （3） Overseas Subsidiaries （6） Chugoku Region Subsidiaries (7） Underground Power Lines for Transmission /Distribution Distribution Lines Information Communication Equipment Air- Conditioning Piping 98.2billion FY2024 Q2 Net Sales -1.8 +1.0-1.8 -1.0 +6.0 -1.2 +5.0 +4.0
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved6 Breakdown of Year-on-Year Change in Operating Profit（Consolidated） (Billions of yen) 10510.5 billion FY2025 Q2 Operating Profit General Work Electric Power Breakdown of Year-on-Year Changes in Operating Profit （+2.4 billion） Chudenko Parent （+2.2 billion） Consolidated Basis （＋1.0 billion） Operating Profit by Sector Operating Profit 8.1 billion FY2024 Q2 Operating Profit +0.0＋2.1 ＋1.0
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved7 Main Factors in Year-on-Year Change in Interim Profit Attributable to Owners of Parent (Consolidated) (Billions of yen) 72 72 7.2 billion FY2025 Q2 Interim Profit 5.9 billion FY2024 Q2 Interim Profit Breakdown of Year-on-Year Changes in Interim Profit Attributable to Owners of Parent （+1.3 billion） Operating Profit Non-Operating Profit/Loss Extraordinary Profit/Loss Income Taxes -6.0 -6.0 +2.4 +1.0
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved8 49.2 18.8 4.5 14.0 3.8 58.7 27.1 3.7 15.2 4.5 F Y 2 4 2 Q F Y 2 5 2 Q Indoor Electrical Air-Conditioning Piping Distribution Line Information Communication Equipment Underground Power Line for Transmission/Distribution Indoor Electrical Air-Conditioning Piping Distribution Line Information Communication Equipment Underground Power Line for Transmission/Distribution Orders received increased year on year by ¥18.9 billion (warehouses, offices, hospitals, etc. increased) Net sales decreased year on year by ¥3.4 billion (warehouses, hospitals, highways, etc. decreased) Orders Received Net Sales 90.5 billion Orders Received and Net Sales by Sector (Parent) （+18.9） 109.5 billion 40.5 16.1 5.3 14.0 3.2 39.3 14.3 3.5 15.0 3.8 F Y 2 4 2 Q F Y 2 5 2 Q Indoor Electrical Air-Conditioning Piping Distribution Line Information Communication Equipment Underground Power Line for Transmission/Distribution 79.5 billon （-3.4） 76.0 billion (Billions of yen)(Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved9 General Work Orders Received (Parent) Since FY2023, larger projects have increased the share of the percentage-of-completion method Orders received under the completed-contract method have remained at nearly the same level 25.3 25.8 24.2 25.6 35.4 58.4 48.3 64.0 60.8 83.5 72.6 89.7 FY2022 2Q FY2023 2Q FY2024 2Q FY2025 2Q 58% 70% 67% 71% 42% 30% 23% 29% +4Ｐ 【Ratio of Percentage-of-Completion and Completed-Contract Methods】 -3Ｐ Percentage-of-Completion Method (Orders of ¥100 million or more and construction period of 6 months or more) Completed-Contract Method (Other than percentage-of-completion method) (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved10 General Work Net Sales (Parent) As construction projects have become larger, the share of projects accounted for under the percentage-of-completion method has increased since FY2024 Net sales under the completed-contract method have remained at nearly the same level 15.6 16.9 16.6 17.4 28.2 27.7 45.5 39.7 43.9 44.7 62.1 57.1 FY2022 2Q FY2023 2Q FY2024 2Q FY2025 2Q 64% 62% 73% 70% 36% 38% 27% 30% (Billions of yen) -3Ｐ 【Ratio of Percentage-of-Completion and Completed-Contract Methods】 +11Ｐ Percentage-of-Completion Method (Orders of ¥100 million or more and construction period of 6 months or more) Completed-Contract Method (Other than percentage-of-completion method)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved11 General Work Net Sales (Parent: by Order Timing) Of the ¥89.7 billion in orders received during the current period, 7%, or ¥6.5 billion, was recorded as net sales Of the ¥138.6 billion balance carried forward from the beginning of the period, 37%, or ¥50.6 billion, was recorded as net sales Of the remaining carried-forward balance, approximately 40% is expected to be completed in the second half, with the remainder to be completed in FY2026 and beyond 50.6 6.5 FY2025 Q2 FY2025 Q2 Net Sales for Current Period 57.1 Balance carried forward from beginning of period 138.6 Orders received in current period 89.7 Ⓐ+Ⓑ＝¥171.1 billion is the balance carried forward at end of Q2, contributing to net sales in 2H and FY2026 onwards 7% of orders received in current period 37% of balance carried forward from beginning of period Ⓐ Ⓑ (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved12 74.9 92.8 93.1 118.3 24.7 38.0 37.6 45.2 8.4 15.5 10.0 7.5 7.5 10.5 12.4 13.1 115.7 157.0 153.2 184.3 Underground Power Line for Transmission/Distribution Information Communication Equipment Air-Conditioning Piping Indoor Electrical 【Changes in Balance Carried Forward 】 FY2022 Q2 FY2023 Q2 FY2024 Q2 FY2025 Q2 Balance carried forward totaled ¥184.3 billion, up ¥31.1 billion year on year Main balance carried forward: Indoor Electrical ¥118.3 billion, Air-Conditioning Piping ¥45.2 billion 89％ Changes in Balance Carried Forward at End of Q2 Parent) (Billions of yen) (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved13 FY2025 Q2 Balance Sheet (Consolidated) Main Factors for ChangeChange As of September 2025 As of March 31, 2025 Notes and accounts receivable -trade, etc. -15.6 Costs on uncompleted construction contracts 3.3 Marketable securities 3.2-6.0123.6129.7Current Assets Long-term loans receivable 7.95.8170.0164.1Non-Current Assets -2.0293.6293.9Total Assets Notes and accounts payable - trade -10.0-7.742.950.6Current Liabilities 0.414.013.6Non-Current Liabilities -7.356.964.2Total Liabilities Retained earnings 40 Valuation difference on available-for-sale securities 357.0236.6229.6Total Net Assets -2.0293.6293.9 Total Liabilities and Net Assets 2.479.577.1％Equity Ratio (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved14 2．FY2025 Earnings Forecasts
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved15 Vs. Previous Announcement Vs. Previous Year FY2025 ForecastFY2024 Consolidated Financial Results RatioChange 2.0105%10.1232.0221.8Sales 2.0111%2.324.0（10.3%）21.6（9.8%）Operating Profit 1.0106％1.324.8（10.7%）23.4（10.6%）Ordinary Profit 0.381％-3.716.1（6.9%）19.8（9.0%）Profit Attributable to Owners of Parent FY2025 Earnings Forecast (Consolidated) Note: Figures in ( ) are profit margins. Revised upward from previous announcement Expected to achieve higher revenue and profits (operating profit and ordinary profit) compared with the previous fiscal year. Net sales are expected to increase by ¥5.1 billion for CHUDENKO parent and ¥4.9 billion for consolidated subsidiaries Operating profit is expected to increase, driven by higher gross profit resulting from increased net sales, despite higher personnel expenses associated with human capital investment. Profit attributable to owners of parent is expected to decrease due to a reactionary decline following the decrease in income taxes in the previous fiscal year (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved16 Orders Received and Net Sales by Sector (Parent) Both orders received and net sales have been revised upward (orders received +¥16.0 billion) Orders received are expected to increase by ¥10.4 billion (mainly due to increased Air-Conditioning Piping work) Net sales are expected to increase by ¥5.1 billion (mainly due to increased Indoor Electrical work and Air-Conditioning Piping work) 104.7 31.9 9.4 30.8 9.6 100.0 46.8 8.9 31.5 9.8 屋内電気 空調管 情報通信 配電線 送変電地中線 F Y 2 0 2 4 F Y 2 0 2 5 f o r e c a s t Orders Received Net Sales 186.5 （+10.4） 197.0 billion 90.2 34.5 12.9 30.8 9.1 96.0 35.8 9.4 31.5 10.3 屋内電気 空調管 情報通信 配電線 送変電地中線 F Y 2 0 2 4 F Y 2 0 2 5 f o r e c a s t 177.8 （+5.1） 183.0 billion Vs. Previous Announcement【+16.0】 Vs. Previous Announcement【+2.0】 (Billions of yen)(Billions of yen) Indoor Electrical Air-Conditioning Piping Distribution Line Information Communication Equipment Underground Power Line for Transmission/Distribution Indoor Electrical Air-Conditioning Piping Distribution Line Information Communication Equipment Underground Power Line for Transmission/Distribution
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved17 ¥98.8 billion 32.3 7.3 0.2 12.0 ¥102.8 billion 43.3 6.8 0.2 11.5 屋内電気 空調管 情報通信 配電線 送変電地中線 End of FY2024 End of FY2025 forecast Orders received, Net sales, and Balance Carried Forward (Parent) ¥153.4 billon 183.3 186.5 197.0 ¥153.0 billion 157.1 177.8 183.0 ¥116.0 billion 142.1 150.9 164.9 FY2022 FY2023 FY2024 FY2025 forecast Orders received and net sales are on an upward trend Balance carried forward is at a record high 【Balance Carried Forward to the Next FY by Sector】 Orders Received Net Sales 【Changes in Orders Received, Net Sales, and Balance Carried Forward】 ¥101.7 billion 100.6 ¥49.1 billion 64.2 End of FY2024 End of FY2025 forecast 【Balance Carried Forward to the Next FY by Region】 Chugoku Region Urban Areas ¥150.9 billion （+14.0 billion） ¥164.9 billion Balance Carried Forward Indoor Electrical Air-Conditioning Piping Distribution Liane Information Communication Equipment Underground Power Line for Transmission/Distribution
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved18 General Work Net Sales (Parent) In FY2025, the share of projects accounted for under the percentage-of-completion method is expected to continue to increase due to larger project size The 1H/2H ratio in FY2025 is expected to return to the traditional 40:60 balance 47.0 46.2 44.9 47.8 63.5 70.8 92.8 93.4 110.5 117.0 137.8 141.2 FY2022 FY2023 FY2024 FY2025 forecast 57% 61% 43% 39% 34% 43.9 44.7 62.1 57.1 66.6 72.2 75.6 84.0 110.5 117.0 137.8 141.2 FY2022 FY2023 FY2024 FY2025 forecast 1H 2H 60% 62% 59% 40% 45% 41% 【Percentage-of-Completion Method and Completed-Contract Method Ratio】 【1H / 2H Ratio】 67% 33% 66% 38% 55% Completed-Contract Percentage-of-Completion +6 +29 (Billions of yen) (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved19 Electric Power Net Sales (Parent) Orders are mainly received from Chugoku Electric Power Network and construction is carried out in the Chugoku region In recent years, net sales of over ¥40 billion have been recorded steadily 【Changes in Electric Power Net Sales】 30.1 31.3 30.8 31.5 7.4 8.7 9.1 10.3 37.6 40.1 40.0 41.8 FY2022 FY2023 FY2024 FY2025 forecast Distribution Line Underground Power Line for Transmission/Distribution (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved20 Orders Received and Net Sales by Region (Parent) Working to strengthen our foundation in the Chugoku region while expanding in urban areas (Tokyo, Osaka, Nagoya) 138.0 147.1 148.9 151.7 29.7 36.2 37.6 45.2 167.7 183.3 186.5 197.0 FY2022 FY2023 FY2024 FY2025 forecast Chugoku Region Urban Areas Orders Received Share of urban areas in orders received FY2022 18％ ↓ FY2025 23％ 117.7 132.0 143.0 152.7 30.4 25.1 34.7 30.2148.2 157.1 177.8 183.0 FY2022 FY2023 FY2024 FY2025 forecast Chugoku Region Urban Areas Net Sales Share of urban areas in net sales FY2022 21％ ↓ FY2025 17％ (Billions of yen)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved21 ３．Overview of Medium-Term Management Plan 2027 (FY2025–2027)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved22 Change & Growth For All to 2027 ～Strengthening Sales Capabilities and Construction Capacity, Promoting Human Capital Management～ Overview of Medium-Term Management Plan 2027 (FY2025–2027) Further Strengthening of Sales Capabilities and Construction Capacity, and Expansion of Orders Received2 We will further strengthen sales capabilities and construction capacity to expand market share in the Chugoku while growing our business in urban areas. ▪ Securing sales personnel and strengthening design and proposal capabilities ▪ Securing and developing technical personnel and optimizing the allocation of construction managers ▪ Strengthening partnerships with cooperating companies ▪ Strengthening orders in growth sectors such as semiconductors and data centers Profit Creation through Productivity Improvement3 We will deepen productivity improvement initiatives across all operations, including DX and construction efficiency, to drive profit growth. ▪ Enhancing operational efficiency through digital transformation and the use of generative AI ▪ Company-wide use of front-loading to equalize and improve construction efficiency ▪ Early resolution of issues through rapid information sharing and strengthened communication ▪ Strengthening cost management and achieving further cost reduction Strengthening Human Resource Development and Creating Attractive Workplaces ４ We will promote the securing of human resources through diversified recruitment methods, strengthened development programs, and the creation of attractive workplaces, in order to enhance employee skills and engagement. ▪ Diversifying recruitment methods, including referral recruitment and location-limited initial assignments ▪ Providing continuous support for skill improvement through qualification education ▪ Promoting work-life balance ▪ Establishing comfortable workplace environments and promoting health management Business Expansion through Growth Investments５ Toward the achievement of carbon neutrality, we will promote environmental businesses that contribute to decarbonization, while also pursuing M&A to drive business expansion. ▪ Promoting environmental businesses, including PPA projects ▪ Promoting technical research and development ▪ Promoting M&A to strengthen construction systems Thorough Safety, Compliance and Quality Improvement1 Our business operations will prioritize safety and compliance as we strive to improve quality to enhance customer trust and satisfaction. ▪ Thorough implementation of safety-first culture and compliance with standard rules in partnership with cooperating companies ▪ Improvement of compliance awareness and full adherence to laws and regulations ▪ Ensuring quality across the entire construction process ▪ Reliable contributions to stable power supply including rapid recovery during disasters
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved23 Consolidated Numerical Targets Having gained visibility on achieving a portion of the numerical targets (operating profit and ROE) under the Medium-Term Management Plan 2027, we will consider revisions going forward. We will continue to steadily implement core measures and pursue further profit creation. Net Sales ¥240.0 billion Operating Profit ¥23.0billon ＲＯＥ 7.0％ or higher 221.8 230.0 232.0 ¥240.0 billion FY24 FY25(plan) FY25(forecast) FY27 Net Sales 21.622.0 24.0 ¥23.0 billion FY24 FY25(plan) FY25(forecast) FY27 Operating Profit ＲＯＥ (Note: FY2024 ROE excludes the impact of reduced income taxes (a special factor) arising from previously recorded investment losses treated as deductible expenses. The reported ROE is 9.1%.) 6.9 6.8 7.0 7.0％ FY24 FY25(plan) FY25(forecast) FY27
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved24 FY2026 Plan （Accepted Job Offers）FY2025FY2024FY2023FY2022 170（171）146132135116 Number of Qualified PersonnelQualification IncreaseOctober 2025October 2022 1351,2921,157 Electrical Construction Management Engineers (1st and 2nd grade) 43338295 Plumbing Construction Management Engineers (1st and 2nd grade) 4614498 Telecommunications Construction Management Engineers (1st grade) 57166Professional Engineers 19~29 26% 30~39 26% 40~49 16% 50~59 26% 60~ 6% As of October 1, 2025 Number of New Hires through Periodic Recruitment Number of Persons with QualificationsEmployee Composition by Age Group Note: Personnel with multiple qualifications as Construction Management Engineers (Electric Works, Piping Works): 73 Revision to Starting Salaries IncreaseApril 2025April 2024 25,000260,000235,000University Graduate （Unit：Yen） Strengthening Human Resource Development (Parent)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved25 4．Management Measures Considering Capital Costs and Share Price
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved26 Current Status Analysis and Initiatives for Improving PBR 3.1 △ 3.4 3.9 6.9 7.0％ FY2021 FY2022 FY2023 FY2024 FY2025 forecast △ 5.0 0.0 5.0 10.0 0.53 0.59 0.79 0.79 1.04 times FY2021 FY2022 FY2023 FY2024 FY2025 forecast 0.00 0.50 1.00 1.50 ROE Trend （％） PBR Trend （times） (1) Improve profitability (2) Strengthen and enhance capital policy (3) Strengthen IR activities Improve ROE Improve ROE Improve stock market valuation FY2024 ROE excludes the impact of reduced income taxes (a special factor) arising from previously recorded investment losses treated as deductible expenses. The reported ROE is 9.1%.) As of end-November
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved27 Strengthen and Enhance Capital Policy Over the three years of Medium-Term Management Plan 2027, we will allocate ¥95 billion from business activities and the sale of cross-shareholdings to growth investments and shareholder returns. ▪ Growth investments: Approximately ¥60 billion ¥30 billion for strengthening the business foundation, including DX promotion, ¥30 billion for business expansion, including environmental-related businesses ▪ Enhance shareholder returns: Approximately ¥35 billion Change in the DOE target of 3.0% with approximately ¥20 billion in dividends over three years, and establishment of a share buyback framework of approximately ¥15 billion. ▪ DX promotion ▪ Expansion of capital investment for workplace environment improvement, etc. ▪ Human resource security and development ▪ Technical research and development, etc. Investment in strengthening business foundations: Approximately ¥30 billion ▪ Environmental-related businesses ▪ Strengthening and expansion of equipment construction business ▪ Strengthening and expansion of various group company businesses ▪ New businesses, etc. Investment in business expansion: Approximately ¥30 billion ▪ Change dividend policy in the DOE target of 2.7% to 3.0% ▪ FY2025 (March 2026) forecast: Annual dividend per share of ¥130 Sustainable and stable dividends: Approximately ¥20 billion ▪ Establish a share buyback frameworkShare buybacks: Approximately ¥15 billion Expand Growth Investments Approximately ¥60 billion Enhance Shareholder Returns Approximately ¥35 billion
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved28 5．Shareholder Returns
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved29 ¥20 30 62 72 72 94 104 104 104 104 104 104 120 130 70.5% 13.0 34.8 38.7 44.9 67.3 94.4 120.7 71.2 86.0 71.5 32.7 43.7 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 forecast Dividends and Payout Ratio Trends 【Dividends and Payout Ratio Trends】 FY2025 forecast: Annual dividend ¥130, DOE 3.20％, Payout ratio 43.7％ Payout Ratio (%) Dividend Per Share 【Dividend policy】 [FY2014] Target DOE at 2.0% [FY2017] Target DOE at 2.5% [FY2018] Target DOE at 2.7% [FY2012] Stable dividend 20 yen [FY2013] Performance- linked payout ratio 30% FY2025 Target DOE 3.0% (Note: Not reported for FY2022 due to a net loss.)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved30 600,000 shares 390,000 600,000 420,000 ¥1.3 billion 0.8 1.4 1.4 ¥15.0 billion FY2021 FY2022 FY2023 FY2024 Number of Shares Cost Share Buybacks FY2025-2027 Buyback Framework A total of 2 million shares acquired for approximately ¥5 billion over the four years of Medium-Term Management Plan 2024 A share buyback framework of ¥15 billion has been established for the three years of the Medium-Term Management Plan 2027 【Share Buyback Trends】 Medium-Term Management Plan 2024 Medium-Term Management Plan 2027
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved31 ６. Reference Information
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved32 CHUDENKO CORPORATIONCompany name Takafumi Shigeto Representative Director and PresidentRepresentative September 1944 (as Chugoku Electrical Construction Co., Ltd.)Established ¥3,481.9 millionCapital Prime Market, Tokyo Stock ExchangeStock exchange listing Hiroshima CityHead Office location 16Consolidated subsidiaries General equipment engineering services, sales of electrical materials, insurance agency, leasingBusiness activities 4,612（Consolidated） 3,400（CHUDENKO Parent） （End of FY2024）Number of employees ¥221.8 billion（Consolidated） ¥177.8 billion（CHUDENKO Parent） （FY2024）Sales ¥293.9 billion（Consolidated） ¥266.6 billion（CHUDENKO Parent） （End of FY2024）Total assets Reference (Outline of CHUDENKO CORPORATION) Head Office (CHUDENKO Peace Boulevard Bldg.)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved33 Net Sales and Gross Profit Trends (Consolidated) 本店（中電工平和大通りビル） 10.3 15.8 8.6 15.3 9.4 19.0 16.2 22.7 19.1 13.4 14.0 10.9 14.0 11.4 16.1 16.5 18.4 20.0 5.0 10.0 15.0 20.0 25.0 0 200 400 600 800 1000 1200 1400 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H Net Sales Gross Profit Gross Profit Margin FY2021 FY2022 FY2023 FY2024 FY2025 （Unit：％） FY2025 Interim Results FY2024 Annual Results FY2023 Annual Results FY2022 Annual Results FY2021 Annual Results 95.7221.8201.0189.0¥190.6 billionNet Sales 19.138.928.523.9¥26.2 billionGross Profit 20.017.514.212.713.8％Gross Profit Margin (Billions of yen) 140.0 120.0 100.0 80.0 60.0 40.0 20.0
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved34 Orders Received by Building Use in General Work Sector (Parent) 本店（中電工平和大通りビル） 0 50 100 150 200 250 300 350 400 FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q FY2021 FY2022 FY2023 FY2024 FY2025 2Q Factory Office Warehouse Hospital Care facilities Hotel/Condominium School/Gymnasium Tunnel Others (Billions of yen) 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved35 Network (Chugoku Region) The company operates 60 offices, with a core structure of nine branch companies in the Chugoku region. Building an efficient construction system and improving emergency readiness Tottori Supervising BranchShimane Supervising Branch Eastern Yamaguchi Branch Yamaguchi Supervising Branch Okayama Supervising Branch Kurashiki BranchEastern Hiroshima Branch Central Hiroshima Branch Hiroshima Supervising Branch Head Office 60 business offices in Chugoku region （as of July 2025）
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved36 Business Bases (Urban Areas and Overseas) Expand business by establishing headquarters and branches in urban areas Group companies in Malaysia, Singapore, and Vietnam 【 Urban Areas 】 【Overseas】 Tokyo Headquarters Nagoya Branch Osaka Headquarters CHUDENKO Sdn. Bhd. (Malaysia) RYB Engineering （Singapore） SHOWA VIETNAM （VIETNAM）
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved37 Main Business Voting Rights Held by Chudenko LocationCompany Name Sales of electrical equipment and electrical works materials, telecommunications equipment work50.03％Hiroshima CitySanshin Electric Materials Co., Ltd. Insurance agency, leasing, etc.100.0％Hiroshima CityCHUKO KAIHATU Corporation Design and estimation of electrical/air-conditioning piping works, etc.100.0％Hiroshima CityEapec Hiroshima Co., Ltd. Installation of distribution line work100.0％Hiroshima CityChudenko Techno Co., Ltd. Design and implementation of electrical works, etc.100.0％Hiroshima CityChudenko Eletech Hiroshima/Shimane Co., Ltd. Design and implementation of electrical works, etc.100.0％Okayama CityChudenko Eletech Okayama/Tottori Co., Ltd. Design and implementation of electrical works, etc.100.0％Yamaguchi CityChudenko Eletech Yamaguchi Co., Ltd. Design and installation of air-conditioning piping works, etc.100.0％Yokohama CitySugiyamakankousetubi Co., Ltd. Design and implementation of electrical works, etc.100.0％Kobe CityHayamizudenki Co., Ltd. Design, installation and supervision of heat insulation works, manufacture and sales of heat insulated pipe supports100.0％TokyoShowa Corporation Import/export, wholesale and retail sales of air conditioning piping materials, design, construction and supervision of heat insulation work100.0％VietnamSHOWA VIETNAM CO., LTD Manufacture and sale of pipe supports, import/export of parts100.0％VietnamSHOWA TECH VIETNAM CO., LTD Design and implementation of electrical works, etc.100.0％MalaysiaCHUDENKO(MALAYSIA)SDN. BHD. Design and implementation of electrical works, etc.100.0％SingaporeRYB ENGINEERING PTE LTD Design and implementation of electrical works, etc.100.0％SingaporeELEVATE ENGINEERING SOLUTION PTE. LTD. Design and implementation of electrical works, etc.100.0％MalaysiaRYBE ENGINEERING (M) SDN. BHD. <Consolidated Subsidiaries> Reference (Overview of CHUDENKO Group)
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Copyright©2025 CHUDENKO Corporation.All Rights Reserved38 Various data, forward-looking statements pertaining to earnings forecasts and other matters in this report are based on information available to and certain assumptions judged reasonable by the Company. As such, actual earnings and other outcomes may differ materially from the content of this report due to a variety of factors. Cautionary Note on Forward-looking Statements 【For inquiries on this material】 6-12 Koamicho, Naka-ku, Hiroshima-shi 730-0855 Japan TEL: 082-233-9034 FAX: 082-234-8075 E-mail: kikaku@chudenko.co.jp Investor Relations, Corporate Planning Department, Planning Division 【For inquiries on this material】 6-12 Koamicho, Naka-ku, Hiroshima-shi 730-0855 Japan TEL: 082-233-9034 FAX: 082-234-8075 E-mail: kikaku@chudenko.co.jp Investor Relations, Corporate Planning Department, Planning Division