Taikisha : Financial Report for the Second Quarter of the Fiscal Year ending March 31, 2021

Financial Report for the Second Quarter of the Fiscal Year ending March 31, 2021

November 10, 2020

The following statements are an English translation of the original Japanese document.

(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)

Name of company… Taikisha Ltd.
Stock Exchange…… First Section of Tokyo Stock Exchange
Code………………	1979
Representative……	Koji Kato, President and Representative Director
Contact…………… Masanori Nakagawa, Director, Managing Corporate Officer, Administrative Management
	Headquarters Chief Executive
TEL……………… (03)5338 - 5052
URL……………… https://www.taikisha.co.jp/
Scheduled date to submit Quarterly report	：	November 13, 2020
Scheduled date to commence dividend payments	：	November 27, 2020
Supplemental materials prepared for financial results	：	Yes

Briefing session of financial results

： Yes (for instituted investors and analysts)

(Round down to one million yen)

1. Consolidated Operating Performance (April 1, 2020 through September 30, 2020)

(1) Consolidated operating results (Cumulative)

(% indicates increase ratio over previous year)

Sales

Operating income

Ordinary income

Profit attributable

to owners of parent

Six months ended

million yen

%

million yen

%

million yen

%

million yen

%

September 30, 2020

81,590

(22.3)

3,191

(57.8)

3,712

(51.7)

3,070

(42.8)

September 30, 2019

104,973

6.2

7,560

122.6

7,679

98.1

5,371

490.2

(Note) Comprehensive income

Six months ended September 30, 2020

4,664 million yen

16.0 %

Six months ended September 30, 2019

4,020 million yen

428.9 %

Profit attributable to

Profit attributable to

owners of parent per

owners of parent per

share

share (Diluted)

Six months ended

yen

yen

September 30, 2020

90.13

－

September 30, 2019

157.67

－

(2) Consolidated financial position

Total assets

Net assets

Equity capital ratio

As of

million yen

million yen

%

September 30, 2020

207,795

115,110

53.2

March 31, 2020

215,389

112,843

50.2

(Note) Shareholders' Equity

As of September 30, 2020

110,545 million yen

As of March 31, 2020

108,209 million yen

2. Dividends

Dividend per share

1Q

2Q

3Q

Year End

Total

(annually)

Year ended

yen

yen

yen

yen

yen

March 31, 2020

－

30.00

－

70.00

100.00

March 31, 2021

－

30.00

Year ending March 31,

2021 (Forecast)

－

60.00

90.00

(Note) Revisions to forecast of dividends : None

3. Consolidated Earnings Forecast for Fiscal Year Ending March 31, 2021 (April 1, 2020 through March 31, 2021)

							(% indicates increase ratio over previous year)
							Profit attributable	Profit attributable
	Sales		Operating income	Ordinary income	to owners of parent
		to owners of parent
							per share
	million yen	%	million yen	%	million yen	%	million yen	%	yen
Full year	203,000	(9.9)	11,000	(28.8)	12,000	(25.0)	8,000	(12.4)	234.82

(Note) Revisions to forecast of earnings : None

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4. Others

1. Changes in significant subsidiaries during the period

	(Changes in specified subsidiaries accompanying changes in scope of consolidation)	: None
(2)	Adoption of particular accounting treatments for quarterly consolidated financial statements	: None
(3)	Changes in accounting policies, changes in accounting estimates and restatements
	(i)	Changes in accounting policies due to revisions of accounting standards etc.	: None
	(ii)	Changes in accounting policies other than (i)	: None
	(iii)	Changes in accounting estimates	: None
	(iv)	Restatements	: None

1. Number of shares issued (common shares)
2. 1. Number of shares issued at end of period (including treasury shares)

As of September 30, 2020	35,082,009	shares
As of March 31, 2020	35,082,009	shares

1. Number of treasury shares at end of period

As of September 30, 2020	1,013,675	shares
As of March 31, 2020	1,013,573	shares

1. Average number of shares during the period

Six months ended September 30, 2020	34,068,392	shares
Six months ended September 30, 2019	34,068,697	shares

(Note) The Company has introduced the "Board Benefit Trust (BBT)" as its performance-linked and share-based compensation plan and its own shares remaining in the Trust are included as treasury shares. The number of treasury shares owned by the trust as of September 30, 2020 and as of March 31, 2020 are 136,400 and 136,400, respectively. The average number of treasury shares owned by the trust for six months ended September 30, 2020 and for six months ended September 30, 2019 are 136,400 and 136,400, respectively.

• Notice of status of implementation for quarterly review procedures
  This financial report is not subject to quarterly review procedures by certified public accountants or auditing firms.
• Explanation about the proper use of consolidated forecasts and other notes
  Data and forward-looking statements disclosed herein are based on current information as of today, and may change depending upon various factors. The data and assumptions do not mean guaranteeing accomplishment of goals and projections, and may be changed at any time without notice. Consequently, the Company ask you to use this information at your discretion based upon your own judgment and information you may obtain through other sources. The company will not be liable for any damages that result from the use of this information.

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1 Consolidated Financial Statements

(1) Consolidated Balance Sheets

Millions of yen

		As of March 31, 2020	As of September 30,
		2020
Assets
Current assets
Cash and deposits	57,626	50,881
Notes receivable, accounts receivable from completed construction	96,726	83,149
contracts and other
Securities	3,500	1,000
Costs on uncompleted construction contracts	3,097	3,608
Raw materials and supplies	358	506
Other	7,979	14,542
Allowance for doubtful accounts	(329)	(250)
Total current assets	168,958	153,437
Non-current assets
Property, plant and equipment	10,493	10,588
Intangible assets
Goodwill	755	4,810
Other	2,824	3,205
Total intangible assets	3,580	8,015
Investments and other assets
Investment securities	24,388	27,423
Deferred tax assets	655	555
Net defined benefit asset	5,181	5,721
Other	2,187	2,107
Allowance for doubtful accounts	(55)	(54)
Total investments and other assets	32,357	35,753
Total non-current assets	46,430	54,357
Total assets	215,389	207,795
Liabilities
Current liabilities
Notes payable, accounts payable for construction contracts and other	57,623	39,576
Short-term loans payable	6,460	11,954
Income taxes payable	1,481	419
Advances received on uncompleted construction contracts	14,342	17,708
Provision for bonuses	－	1,965
Provision for warranties for completed construction	836	796
Provision for loss on construction contracts	289	175
Provision for directors' bonuses	116	－
Other	12,772	9,266
Total current liabilities	93,924	81,863
Non-current liabilities
Long-term loans payable	1,952	2,163
Deferred tax liabilities	4,497	6,504
Provision for directors' retirement benefits	51	35
Provision for share-based remuneration for directors	109	109
Net defined benefit liability	1,706	1,689
Other	305	320
Total non-current liabilities	8,622	10,821
Total liabilities	102,546	92,684

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Millions of yen

		As of March 31, 2020	As of September 30,
		2020
Net assets
Shareholders' equity
Capital stock	6,455	6,455
Capital surplus	5,058	5,058
Retained earnings	90,842	91,519
Treasury shares	(2,593)	(2,594)
Total shareholders' equity	99,762	100,438
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	8,376	10,559
Deferred gains or losses on hedges	(0)	(15)
Foreign currency translation adjustment	372	(487)
Accumulated remeasurements of defined benefit plans	(302)	50
Total accumulated other comprehensive income	8,447	10,106
Non-controlling interests	4,633	4,565
Total net assets	112,843	115,110
Total liabilities and net assets		215,389	207,795

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