Interim report
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Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. October 31, 2025 CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd FFFFFiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll RRRRReeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee SSSSSiiiiixxxxx MMMMMooooonnnnnttttthhhhhsssss EEEEEnnnnndddddeeeeeddddd SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555 (((((UUUUUnnnnndddddeeeeerrrrr JJJJJaaaaapppppaaaaannnnneeeeessssseeeee GGGGGAAAAAAAAAAPPPPP))))) Company name: NIPPON DENSETSU KOGYO CO., LTD. Listing: Tokyo Stock Exchange Securities code: 1950 URL: https://www.densetsuko.co.jp/ Representative: Kazushige Yasuda , President and Representative Director Inquiries: Minoru Ito , General Manager of Finance Department Telephone: +81-3-3822-8811 Scheduled date to file semi-annual securities report: November 7, 2025 Scheduled date to commence dividend payments: - Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (Yen amounts are rounded down to millions, unless otherwise noted.) 11111..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuullllltttttsssss fffffooooorrrrr ttttthhhhheeeee sssssiiiiixxxxx mmmmmooooonnnnnttttthhhhhsssss eeeeennnnndddddeeeeeddddd SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555 (((((fffffrrrrrooooommmmm AAAAAppppprrrrriiiiilllll 11111,,,,, 22222000002222255555 tttttooooo SSSSSeeeeepppppttttteeeeemmmmmbbbbbeeeeerrrrr 3333300000,,,,, 22222000002222255555))))) (((((11111))))) CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd ooooopppppeeeeerrrrraaaaatttttiiiiinnnnnggggg rrrrreeeeesssssuuuuullllltttttsssss (((((cccccuuuuummmmmuuuuulllllaaaaatttttiiiiivvvvveeeee))))) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2025 78,419 3.7 2,721 703.0 3,607 247.5 2,831 895.2 September 30, 2024 75,625 6.5 338 5.3 1,038 17.6 284 (41.2) Note: Comprehensive income For the six months ended September 30, 2025: ¥ 7,701 million [ -%] For the six months ended September 30, 2024: ¥ (599) million [ -%] Basic earnings per share Diluted earnings per share Six months ended Yen Yen September 30, 2025 48.47 - September 30, 2024 4.83 - (((((22222))))) CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll pppppooooosssssiiiiitttttiiiiiooooonnnnn Total assets Net assets Equity-to-asset ratio As of Millions of yen Millions of yen % September 30, 2025 269,007 211,077 73.3 March 31, 2025 296,388 209,649 66.0 Reference: Equity As of September 30, 2025: ¥ 197,230 million As of March 31, 2025: ¥ 195,716 million
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22222..... CCCCCaaaaassssshhhhh dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 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 - - - 90.00 90.00March 31, 2025 Fiscal year ending - -March 31, 2026 Fiscal year ending March 31, 2026 (Forecast) - 92.00 92.00 Note: Revisions to the forecast of cash dividends most recently announced: None Note: Breakdown of the second quarter dividend for the fiscal year ending March 31, 2026 : Commemorative dividend - yen Special dividend - yen 33333..... CCCCCooooonnnnnsssssooooollllliiiiidddddaaaaattttteeeeeddddd fffffiiiiinnnnnaaaaannnnnccccciiiiiaaaaalllll rrrrreeeeesssssuuuuulllllttttt fffffooooorrrrreeeeecccccaaaaassssstttttsssss fffffooooorrrrr ttttthhhhheeeee fffffiiiiissssscccccaaaaalllll yyyyyeeeeeaaaaarrrrr eeeeennnnndddddiiiiinnnnnggggg MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222266666 (((((fffffrrrrrooooommmmm AAAAAppppprrrrriiiiilllll 11111,,,,, 22222000002222255555 tttttooooo MMMMMaaaaarrrrrccccchhhhh 3333311111,,,,, 22222000002222266666))))) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Full year 230,480 6.2 17,660 (1.5) 18,900 (2.6) 13,380 1.4 229.02 Note: Revisions to the financial result forecast most recently announced: None ***** NNNNNooooottttteeeeesssss (1) Significant changes in the scope of consolidation during the period: None Newly included: - companies( ) Excluded: - companies( ) (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (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 (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of September 30, 2025 61,537,219 shares As of March 31, 2025 61,537,219 shares (ii) Number of treasury shares at the end of the period As of September 30, 2025 3,164,915 shares As of March 31, 2025 2,865,085 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended September 30, 2025 58,423,557 shares Six months ended September 30, 2024 58,971,838 shares * Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters
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1 Semi-annual Consolidated Financial Statements and Primary Notes Semi-annual Consolidated Balance Sheet (Millions of yen) As of March 31, 2025 As of September 30, 2025 Assets Current assets Cash and deposits 14,979 8,997 Notes receivable, accounts receivable from completed construction contracts and other 135,948 96,822 Electronically recorded monetary claims - operating 852 493 Securities 12,187 10,892 Costs on construction contracts in progress 4,517 10,336 Other 9,326 15,054 Allowance for doubtful accounts (9) (7) Total current assets 177,804 142,587 Non-current assets Property, plant and equipment Buildings and structures, net 25,993 25,632 Land 29,201 29,256 Other, net 6,396 7,193 Total property, plant and equipment 61,592 62,082 Intangible assets 6,254 5,701 Investments and other assets Investment securities 41,318 49,397 Deferred tax assets 3,049 2,840 Other 6,371 6,399 Allowance for doubtful accounts (1) (1) Total investments and other assets 50,737 58,636 Total non-current assets 118,584 126,419 Total assets 296,388 269,007 Liabilities Current liabilities Notes payable, accounts payable for construction contracts and other 35,564 19,304 Electronically recorded obligations - operating 6,718 5,822 Short-term borrowings 4,100 200 Income taxes payable 7,034 305 Advances received on construction contracts in progress 3,963 6,073 Provision for warranties for completed construction 51 49 Provision for loss on construction contracts 514 315 Provision for bonuses 8,607 4,864 Provision for bonuses for directors (and other officers) 104 13 Other 6,498 3,436 Total current liabilities 73,157 40,385 Non-current liabilities Provision for retirement benefits for directors (and other officers) 105 96 Retirement benefit liability 9,326 9,800 Provision for share awards 157 181 Other 3,991 7,465 Total non-current liabilities 13,581 17,544 Total liabilities 86,739 57,930
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2 (Millions of yen) As of March 31, 2025 As of September 30, 2025 Net assets Shareholders' equity Share capital 8,494 8,494 Capital surplus 7,595 7,595 Retained earnings 168,859 166,271 Treasury shares (5,689) (6,328) Total shareholders' equity 179,259 176,032 Accumulated other comprehensive income Valuation difference on available-for-sale securities 12,720 17,850 Remeasurements of defined benefit plans 3,736 3,347 Total accumulated other comprehensive income 16,457 21,197 Non-controlling interests 13,933 13,847 Total net assets 209,649 211,077 Total liabilities and net assets 296,388 269,007
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3 Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Millions of yen) For the six months ended September 30, 2024 For the six months ended September 30, 2025 Net sales of completed construction contracts 75,625 78,419 Cost of sales of completed construction contracts 67,995 68,013 Gross profit on completed construction contracts 7,629 10,405 Selling, general and administrative expenses 7,290 7,683 Operating profit 338 2,721 Non-operating income Interest income 33 105 Dividend income 588 741 Other 190 132 Total non-operating income 811 978 Non-operating expenses Interest expenses 0 3 Share of loss of entities accounted for using equity method 112 89 Total non-operating expenses 112 93 Ordinary profit 1,038 3,607 Extraordinary income Gain on sale of non-current assets - 1 Gain on sale of investment securities - 750 Total extraordinary income - 751 Extraordinary losses Loss on sale and retirement of non-current assets 217 75 Total extraordinary losses 217 75 Profit before income taxes 820 4,283 Income taxes 366 1,370 Profit 453 2,912 Profit attributable to non-controlling interests 168 81 Profit attributable to owners of parent 284 2,831
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4 Semi-annual Consolidated Statement of Comprehensive Income (Millions of yen) For the six months ended September 30, 2024 For the six months ended September 30, 2025 Profit 453 2,912 Other comprehensive income Valuation difference on available-for-sale securities (805) 5,147 Remeasurements of defined benefit plans, net of tax (239) (388) Share of other comprehensive income of entities accounted for using equity method (7) 30 Total other comprehensive income (1,053) 4,789 Comprehensive income (599) 7,701 Comprehensive income attributable to Comprehensive income attributable to owners of parent (761) 7,572 Comprehensive income attributable to non-controlling interests 161 129