MAEDA ROAD CONSTRUCTION : Consolidated Financial Results for the Fiscal Year Ended March 31,2021

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2021

[Japanese GAAP]

May 14, 2021

Company name: MAEDA ROAD CONSTRUCTION CO., LTD.

Stock exchange listing: Tokyo Stock Exchange

Code number: 1883

URL: https://ssl.maedaroad.co.jp

Representative: Yasuhiko Imaizumi, President and Representative Director

Contact: Seiji Nishi, General Manager, Accounting & Finance Division, Administration Headquarters

Phone: [phone]

Scheduled date of Annual General Meeting of Shareholders: June 25, 2021

Scheduled date of filing annual securities report: June 25, 2021

Scheduled date of commencing dividend payments: June 28, 2021

Availability of supplementary briefing material on annual financial results: Not available

Schedule of annual financial results briefing session: Not scheduled

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021)

(1) Consolidated Operating Results				(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit	Ordinary profit	Profit attributable to
				owners of parent
Fiscal year ended		Million yen	%		Million yen	%	Million yen	%	Million yen	%
	234,612	(1.3)		20,738	5.9	21,078	6.0		16,750	(11.0)
March 31, 2021
Fiscal year ended		237,812	6.3		19,575	14.3	19,877	12.7		18,826	64.0
March 31, 2020
(Note) Comprehensive	income: Fiscal year	ended March 31, 2021: ¥	18,857 million [23.7%]
		Fiscal year ended March 31, 2020: ¥15,241 million [51.4%]
		Basic earnings	Diluted earnings	Rate of return on	Ordinary profit		Operating	profit
		per share			per share	equity	to total assets		to net sales
Fiscal year ended		Yen			Yen		%			%			%
203.23		-		9.1			8.7			8.8
March 31, 2021
Fiscal year ended	223.02		-		9.1			7.2			8.2
March 31, 2020
(Reference)	Equity in earnings	(losses) of associates:		Fiscal year ended March 31, 2021: ¥- million
								Fiscal year ended March 31, 2020: ¥- million
(2) Consolidated Financial Position
		Total assets		Net assets	Equity ratio	Net assets per share
		Million yen		Million yen			%				Yen
As of March 31, 2021	222,930			163,560			72.7		1,967.73
As of March 31, 2020	264,080			206,889			77.7		2,490.89

(Reference) Equity: As of March 31, 2021: ¥162,178 million As of March 31, 2020: ¥205,299 million

(3) Consolidated Cash Flows

			Net cash provided by	Net cash provided by	Net cash provided by	Cash and cash
			(used in) operating	(used in) investing	(used in) financing	equivalents at end of
				activities	activities	activities	period
Fiscal year ended			Million yen		Million yen			Million yen		Million yen
		25,612		222		(62,186)		44,324
March 31, 2021
Fiscal year ended			2,627		21,568		(15,988)		80,669
March 31, 2020
2. Dividends
				Annual dividends						Payout	Dividends
									Total	ratio	to net
			1st	2nd	3rd
			Year-end	Total				assets
		quarter-endquarter-endquarter-end		dividends (consolidated)
								(consolidated)
Fiscal year		Yen	Yen	Yen	Yen	Yen	Million yen	%	%
-	-	-	100.00	750.00
ended March	61,815	336.3	30.8
31, 2020
Fiscal year	-	-	-	70.00	70.00
ended March	5,769	34.4	3.1
31, 2021
Fiscal year
ending March	-	-	-	-	-				-
31, 2022
(Forecast)

(Note) 1. In addition to the above, year-end dividends for the fiscal year ended March 31, 2020 include dividends with record dates other than quarter-ends. For details, please see "Breakdown of dividends with record dates other than quarter-ends" below.

2. The Company will establish a joint holding company through a joint share transfer with Maeda Corporation and MAEDA SEISAKUSHO CO., LTD. as of October 1, 2021 (planned date). Dividends forecast for the fiscal year ending March 31, 2022 is undecided since the dividends will be distributed to the joint holding company. We will announce the dividends forecast of the joint holding company at another time.

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)

	Net sales		Operating profit	Ordinary profit	Profit attributable	Basic earnings
		to owners of parent	per share
	Million yen	%	Million yen	%	Million yen	%	Million yen	%	Yen
Full year	240,000	2.3	19,100	(7.9)	19,400	(8.0)	13,000	(22.4)	157.73

(Note) The Company will establish a joint holding company through a joint share transfer with Maeda Corporation and MAEDA SEISAKUSHO CO., LTD. as of October 1, 2021 (planned date). The financial results forecast presented above are calculated based on current structure of the Company and we will announce the financial results forecast of the joint holding company at another time.

* Notes:

1. Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
3. 1. Changes in accounting policies due to the revision of accounting standards: No
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No

1. Total number of issued shares (common shares)
2. 1. Total number of issued shares at the end of the period (including treasury shares): March 31, 2021: 89,159,453 shares
      March 31, 2020: 89,159,453 shares
   2. Total number of treasury shares at the end of the period:

March 31, 2021: 6,740,228 shares

March 31, 2020: 6,739,344 shares

3) Average number of shares during the period:

Fiscal year ended March 31, 2021: 82,419,619 shares

Fiscal year ended March 31, 2020: 84,416,385 shares

(Reference) Summary of Non-consolidated Financial Results

Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2021 (April 1, 2020 to March 31, 2021)

(1) Non-consolidated Operating Results	(% indicates changes from the previous corresponding period.)
		Net sales		Operating profit	Ordinary profit	Profit
Fiscal year ended		Million yen	%		Million yen	%	Million yen	%		Million yen	%
	215,743	(1.8)		17,708	3.9	20,059	16.9		16,907	(3.6)
March 31, 2021
Fiscal year ended		219,662	3.9		17,043	(0.3)	17,155	2.7		17,532	58.4
March 31, 2020
		Basic earnings per share		Diluted earnings per share
Fiscal year ended					Yen				Yen
				205.14				-
March 31, 2021
Fiscal year ended					207.69				-
March 31, 2020
(2) Non-consolidated Financial Position
		Total assets	Net assets	Equity ratio	Net assets per share
			Million yen			Million yen		%			Yen
As of March 31, 2021		211,074			157,205		74.5			1,907.39
As of March 31, 2020		253,338			201,352		79.5			2,443.00

(Reference) Equity: As of March 31, 2021: ¥157,205 million As of March 31, 2020: ¥201,352 million

• These consolidated financial results are outside of the scope of audit by certified public accountants or an audit firm.
• Explanation of the proper use of financial results forecast and other notes(Notes on forward looking statements)
  ・The earnings forecasts and other forward-looking statements herein are based on the information available to the Company and certain assumptions deemed reasonable as of the date of publication of this document, and the Company does not intend to make guarantees of achievement. Additionally, actual results may differ significantly from these forecasts due to a wide range of factors. Please refer to "(4) Future Outlook" on page 4 of the attached material for suppositions that form the assumptions for the forecasts and cautions concerning the use thereof.
  (Obtaining materials distributed at the annual financial results briefing session)
  ・The Company has decided to cancel the annual financial results briefing session to prevent the spread of the novel coronavirus disease. The information materials that was scheduled to be used at the session will be posted on the Company's website at a later date

Breakdown of dividends with record dates other than quarter-ends

Year-end dividends for the fiscal year ended March 31, 2020 with record dates other than quarter-ends are as follows:

	Record date	March 6, 2020	Total
	Dividends per share	¥650.00	¥650.00
	Total dividends	¥53,573 million	¥53,573 million
.

Table of Contents
1. Overview of Business Results, etc. ..................................................................................................................	2
(1)	Overview of Business Results for the Fiscal Year Under Review................................................................	2
(2)	Overview of Financial Position for the Fiscal Year Under Review..............................................................	4
(3)	Overview of Cash Flows for the Fiscal Year Under Review........................................................................	4
(4)	Future Outlook .............................................................................................................................................	4
2. Basic Policy Regarding Selection of Accounting Standards ............................................................................	5
3. Consolidated Financial Statements and Primary Notes....................................................................................	6
(1)	Consolidated Balance Sheets........................................................................................................................	6
(2)	Consolidated Statements of Income and Comprehensive Income ...............................................................	8
(3)	Consolidated Statements of Changes in Equity..........................................................................................	10
(4)	Consolidated Statements of Cash Flows ....................................................................................................	12
(5)	Notes to the Consolidated Financial Statements ........................................................................................	14
	(Notes on going concern assumption) ...................................................................................................	14
	(Additional information) .......................................................................................................................	14
	(Segment information) ..........................................................................................................................	16
	(Per share information)..........................................................................................................................	20
	(Material subsequent events).................................................................................................................	20
4. Complementary Information ..........................................................................................................................	21
Amount of Orders Received, Net Sales and Amount Carried Forward to Next Period by Business.............	21

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