Haseko : Summary of Financial Statements for the three months ended June 30, 2023

Summary of Financial Statements

- For the three months ended June 30, 2023 -

August 2023

Disclaimer:

Forecasts or assessment figures on this document is depend and based on data available at the date of issue.

Results or actual performances may be different from those estimates because of unexpected affairs.

Contents

Summary of Financial Results for FY 2023 1Q ・・・・・・・・	P.1	Main factors for changes in Consolidated Balance Sheets・・・・	P.10
Consolidated Income Statements	・・・・・・・・・・	P.2	Breakdown of Real estate balance by use ・・・・・・・・・	P.11
Net sale & Gross profit of Construction contracts・・・・・・・	P.3	Interest-bearing debt and Shareholders' equity・・・・・・・	P.12
Order Received (Non-consolidated) Result・・・・・・・・・・	P.4	Reference information・・・・・・・・・・・・・・・・・	P.13〜P.19
Order Received (Quarterly Order Received)・・・・・・・・・	P.5
Order Received (Ratio by Size, Region, Exclusive contract, Construction-with-design orders)	P.6
Net sale & Gross profit of Real estate sale・・・・・・・・・・	P.7
Key indicators of For-sale Condominiums business・・・・・・・	P.8
Operational Benchmarks of Service-Related Business・・・・・	P.9

Summary of Financial Results for FY2023 1Q

• In Consolidated financial results for FY2023 1Q, Net Sales increased 12.7% year-on-year to 263.9 billion yen due to increases in net sale of Construction contracts and Real estate sale, and Ordinary Income increased 13.7% year-on-year to 22.7 billion yen mainly due to an increase in Gross profit of Real estate sale.
• Orders Received (Non-consolidated) for FY2023 1Q increased 94.4% year-on-year to 111.2 billion yen but the progress for Orders Received is in line with FY2023 Annual Forecast.

Consolidated	FY2022	FY2023	Change
1Q (A)	1Q (B)
(B)-(A)	%
Net Sales	234.1	263.9	29.8	12.7%
Gross profit	37.3	40.7	3.4	9.1%

Billions of yen

FY2023 Annual

Forecast	Progress

1,080.0 24.4%

164.0 24.8%

Operating Income

20.0

22.6

2.6

13.1%

88.0

25.7%

Operating Income ratio

8.5%

8.6%

0.1pt

8.1%

Ordinary Income

20.0

22.7

2.7

13.7%

83.0

27.4%

Ordinary Income ratio	8.5%	8.6%	0.1pt
Net Income ※	13.3	15.0	1.7	12.6%
Net Income ratio	5.7%	5.7%	-pt
Order received	57.2	111.2	54.0	94.4％
(Non-consolidated)

• Net Income attributable to owners of parent

7.7%

55.5 27.0%

5.1%

500.0 22.2%

1

Consolidated Income Statements

Billions of yen

FY2022	FY2023	Change
1Q Result	1Q Result	Amount
< A >	< B >	%
< B - A >

Consolidated Ordinary Income

Net sales	234.1	263.9	29.8	12.7%
Construction contracts	112.0	127.4	15.3	13.7%
Design and supervision	0.9	1.1	0.1	13.6%
Leasing and management	21.0	22.2	1.2	5.7%
Real estate sale	95.7	108.7	12.9	13.5%
Others	4.4	4.6	0.2	5.0%
Gross profit	37.3	40.7	3.4	9.1%
Construction contracts	19.2	19.3	0.1	0.8%
[Profit ratio of construction contracts]	17.1%	15.2%	(1.9p)
Design and supervision	0.5	0.5	0.1	11.6%
Leasing and management	4.7	5.0	0.4	8.3%
Real estate sale	12.2	15.0	2.8	23.4%

• Sales up
• Profit ratio down

Construction

Contracts

20.0 0.1

(Billion Yen)

Real estate

sale SG&A

2.8 (0.8)

Others

0.1 22.7

Leasing and

management

0.4

Others	0.8	0.8	(0.0)	( 3.6%)
Selling, general and administrative expense	17.3	18.1	0.8	4.5%
Operating income	20.0	22.6	2.6	13.1%
[Operating income ratio]	8.5%	8.6%	0.1p
Financial income (expenses)	(0.2)	(0.3)	(0.1)
Others, net	0.3	0.5	0.2
Ordinary income	20.0	22.7	2.7	13.7%
[Ordinary income ratio]	8.5%	8.6%	0.1p
Special income (losses), net	(0.0)	(0.0)	0.0
Income before income taxes	20.0	22.7	2.8	13.8%
Current tax	4.7	5.6	0.9
Deferred tax	2.0	2.1	0.2
Net income attributable to non-controlling interests	(0.0)	(0.0)	0.0
Net Income attributable to owners of parent	13.3	15.0	1.7	12.6%

Design and supervision 0.1

• Sale to Private REIT

• Delivery of land for order received

• Personnel expenses increased due to improved working conditions

• Increased overall expenses

2.7

FY2022	FY2023
1Q	1Q
	2