Ichiken : Summary of Non-Consolidated Financial Results for the Three Months Ended June 30, 2022(Based on Japanese GAAP)

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results

for the Three Months Ended June 30, 2022

(Based on Japanese GAAP)

August 10, 2022

Company name:

ICHIKEN Co., Ltd.

Stock exchange listing:

Tokyo

Stock code:

1847

URL

http://www.ichiken.co.jp

Representative:

Representative Director & President

Hiroyuki Hasegawa

Inquiries:

General Manager of

Masanobu Kato

TEL [phone]

Finance & Accounting Dept.

Scheduled date to file Quarterly Securities Report:

August 10, 2022

Scheduled date to commence dividend payments:

-

Preparation of supplementary material on quarterly financial results:

No

Holding of quarterly financial results meeting:

No

(Amounts less than one million yen are rounded down)

1. Non-consolidated financial results for the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)

(1) Non-consolidated operating results (cumulative)

Percentages indicate year-on-year changes

Net sales

Operating profit

Ordinary profit

Profit

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

Three months ended June 30, 2022

22,983

32.4

1,033

(18.5)

1,029

(18.8)

692

(22.2)

Three months ended June 30, 2021

17,362

(14.1)

1,268

91.7

1,267

93.7

890

97.5

Earnings per share

Diluted earnings per share

Yen

Yen

Three months ended June 30, 2022

95.45

95.09

Three months ended June 30, 2021

122.75

122.22

(2) Non-consolidated financial position

Total assets

Net assets

Equity ratio

Millions of yen

Millions of yen

%

As of June 30, 2022

56,280

26,772

47.5

As of March 31, 2022

57,617

26,798

46.5

2. Cash dividends

		Annual dividends per share
	1st quarter-end	2nd quarter-end	3rd quarter-end	Fiscal year-end	Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2022	-	0.00	-	100.00	100.00
Year ending March 31, 2023	-
Year ending March 31, 2023 (Forecast)		40.00	-	60.00	100.00

3. Forecast of non-consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)

Percentages indicate year-on-year changes

	Net sales		Operating profit	Ordinary profit	Profit		Earnings per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
Six months ending	44,000	16.1	2,100	(8.4)	2,050	(10.3)	1,400	(17.5)	192.90
September 30, 2022
Full year	90,000	7.4	4,440	(5.0)	4,340	(6.4)	3,000	0.5	413.36

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4. Notes

1. Application of special accounting methods for preparing quarterly non-consolidated financial statements: No
2. Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements

Changes in accounting policies due to revisions to accounting standards and other regulations:	No
Changes in accounting policies due to other reasons:	No
Changes in accounting estimates:	No
Restatement of prior period financial statements:	No

(3) Number of issued shares (common shares)

Total number of issued shares at the end of the period (including treasury shares)

	As of June 30, 2022	7,282,400	shares	As of March 31, 2022	7,282,400	shares
Number of treasury shares at the end of the period
	As of June 30, 2022	24,751	shares	As of March 31, 2022	24,651	shares
Average number of shares during the period (cumulative from the beginning of the fiscal year)
	Three months ended June 30, 2022	7,257,662	shares	Three months ended June 30, 2021	7,254,014	shares

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Quarterly non-consolidated financial statements

Non-consolidated balance sheets

			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Assets
Current assets
Cash and deposits	11,657	17,059
Notes receivable, accounts receivable from completed	30,850	21,410
construction contracts and other
Electronically recorded monetary claims - operating	2,284	4,660
Real estate for sale	2,216	2,207
Costs on construction contracts in progress	919	925
Other	403	500
Allowance for doubtful accounts	(6)	(5)
Total current assets	48,324	46,758
Non-current assets
Property, plant and equipment	5,894	5,868
Intangible assets	127	120
Investments and other assets
Other	3,271	3,533
Allowance for doubtful accounts	(0)	(0)
Total investments and other assets	3,270	3,533
Total non-current assets	9,292	9,521
Total assets	57,617	56,280

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			(Millions of yen)
		As of March 31, 2022	As of June 30, 2022
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts	11,751	9,400
Electronically recorded obligations - operating	6,319	7,857
Short-term borrowings	1,534	1,393
Income taxes payable	875	443
Advances received on construction contracts in progress	2,289	2,333
Provision for warranties for completed construction	133	177
Provision for loss on construction contracts	144	171
Provision for bonuses	569	106
Other	996	1,629
Total current liabilities	24,613	23,513
Non-current liabilities
Long-term borrowings	4,363	4,110
Provision for retirement benefits	1,543	1,562
Other	299	320
Total non-current liabilities	6,206	5,993
Total liabilities	30,819	29,507
Net assets
Shareholders' equity
Share capital	4,329	4,329
Capital surplus	214	214
Retained earnings	21,939	21,906
Treasury shares	(26)	(26)
Total shareholders' equity	26,456	26,423
Valuation and translation adjustments
Valuation difference on available-for-sale securities	318	326
Total valuation and translation adjustments	318	326
Share acquisition rights	22	22
Total net assets	26,798	26,772
Total liabilities and net assets	57,617	56,280

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Non-consolidated statements of income (cumulative)

			(Millions of yen)
		Three months ended	Three months ended
		June 30, 2021	June 30, 2022
Net sales	17,362	22,983
Cost of sales	15,363	21,223
Gross profit	1,999	1,760
Selling, general and administrative expenses	731	726
Operating profit	1,268	1,033
Non-operating income
Interest income	0	0
Dividend income	14	14
Reversal of allowance for doubtful accounts	-	1
Other	7	2
Total non-operating income	21	17
Non-operating expenses
Interest expenses	20	19
Commission expenses	1	1
Other	0	0
Total non-operating expenses	22	21
Ordinary profit	1,267	1,029
Profit before income taxes	1,267	1,029
Income taxes - current	405	448
Income taxes - deferred	(27)	(111)
Total income taxes	377	336
Profit	890	692

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