JDC : (Correction/Correction of Numerical Data) Notice of Partial Correction of “Summary of Consolidated Financial Results for Fiscal Year Ended May 31,

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.

August 26, 2021

News Release

Company name: JDC Corporation

Representative: Takeo Asakura, Representative Director and President (Code number: 1887, First Section of the Tokyo Stock Exchange) Contact: Hironori Otoishi, General Manager,

Accounting Division and Deputy General Manager, Management Department (Phone: [phone]）

(Correction/Correction of Numerical Data)

Notice of Partial Correction of "Summary of Consolidated Financial Results for Fiscal Year Ended May 31, 2021 [Japanese GAAP]"

JDC Corporation hereby announces that there were certain items requiring corrections in the "Summary of

Consolidated Financial Results for Fiscal Year Ended May 31, 2021 [Japanese GAAP]," announced on July 15, 2021, as described below. Corrections have also been made to the numerical data (XBRL data) and accordingly, the corrected numerical data have been transmitted. The corrected sections have been underlined.

1. Reason for corrections

Corrections have been made, as certain items requiring corrections were identified after the announcement of the "Summary of Consolidated Financial Results for Fiscal Year Ended May 31, 2021 [Japanese GAAP]."

2. Details of corrections

○ Summary of Information

1. Consolidated Financial Results for Fiscal Year Ended May 31, 2021 (June 1, 2020 to May 31, 2021)

(1) Consolidated Operating Results

【Before Correction】

		Net Income	Diluted Net	Return on	Ordinary Profit	Operating
		per Share	Income per	Equity	to Total Assets	Profit to Net
			Share			Sales
Fiscal year ended		Yen	Yen	%	%	%
May 31, 2021		88.92	88.69	10.9	7.5	9.0
May 31, 2020		91.37	91.00	12.1	7.4	8.7
【After Correction】
		Net Income	Diluted Net	Return on	Ordinary Profit	Operating
		per Share	Income per	Equity	to Total Assets	Profit to Net
			Share			Sales
Fiscal year ended		Yen	Yen	%	%	%
May 31, 2021		88.92	88.55	10.9	7.5	9.0
May 31, 2020		91.37	91.00	12.1	7.4	8.7

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1. Non-consolidated Financial Results for Fiscal Year Ended May 31, 2021 (June 1, 2020 to May 31, 2021)

1. Non-consolidatedOperating Results

【Before Correction】

		Net Income per Share	Diluted Net Income per Share
Fiscal year ended		Yen	Yen
May 31, 2021		78.36	78.16
May 31, 2020		84.37	84.03
【After Correction】
		Net Income per Share	Diluted Net Income per Share
Fiscal year ended		Yen	Yen
May 31, 2021		78.36	78.03
May 31, 2020		84.37	84.03

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• p.7 of Attachments

3. Consolidated Financial Statements and Primary Notes

(4) Consolidated Statement of Cash Flows

【Before Correction】

												(Million yen)
										For the fiscal year	For the fiscal year
										ended May 31, 2020	ended May 31, 2021
Cash flows from operating activities
Profit before income taxes						11,857	11,112
Depreciation										1,694		1,667
Increase	(decrease)	in	allowance	for	doubtful	381	(449)
accounts
Increase (decrease) in provision for warranties for			(262)		227
completed construction
Increase	(decrease)	in	provision	for	loss		on	(363)	(119)
construction contracts
Increase	(decrease) in provision	for	bonuses	for			(5)		(69)
directors (and other officers)
Increase (decrease) in provision for loss on business	(81)	(31)
liquidation
Increase (decrease) in retirement benefit liability				(187)		(3)
Decrease (increase) in retirement benefit asset			(131)	(41)
Increase	(decrease)	in	provision for retirement			-		0
benefits for directors (and other officers)
Increase	(decrease)	in	provision	for	loss		on	(98)	(7)
litigation
Interest and dividend income								(284)		(246)
Interest expenses and interest expenses	of rental	240	187
payments
Foreign exchange losses (gains)								(43)		(122)
Gain on bad debts recovered						(1)	(162)
Loss (gain) on sale of non-current assets						(2,193)		(382)
Impairment losses								532	77
Loss (gain) on sale of investment securities					(387)		(338)
Decrease (increase) in trade receivables				(6,609)	3,862
Decrease (increase) in real estate for sale						-		1,596
Decrease	(increase)	in	costs	on	construction	(212)	2,881
contracts in progress
Decrease	(increase)	in	costs	on	uncompleted			248		(2,121)
development projects
Decrease (increase) in advances paid					978	(616)
Decrease (increase) in consumption taxes refund			(558)		899
receivable
Increase (decrease) in trade payables					2,169	(5,822)
Increase	(decrease)	in	advances	received	on			(6,877)		(4,792)
construction contracts in progress
Increase	(decrease)	in	advances	received		on	69	54
development projects
Increase (decrease) in deposits received						1,080		(2,906)
Increase (decrease) in accrued consumption taxes	5	2,322
Other, net										(790)		240
Subtotal									170	6,894
Interest and dividends received								284		246
Interest paid								(234)	(176)
Income taxes paid										(3,696)		(2,392)
Net cash provided by (used in) operating activities		(3,476)	4,572

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【After Correction】

												(Million yen)
										For the fiscal year	For the fiscal year
										ended May 31, 2020	ended May 31, 2021
Cash flows from operating activities
Profit before income taxes						11,857	11,112
Depreciation										1,694		1,667
Increase	(decrease)	in	allowance	for	doubtful	381	(449)
accounts
Increase (decrease) in provision for warranties for			(262)		227
completed construction
Increase	(decrease)	in	provision	for	loss		on	(363)	(119)
construction contracts
Increase	(decrease)	in provision	for	bonuses	for			(5)		(69)
directors (and other officers)
Increase (decrease) in provision for loss on business	(81)	(31)
liquidation
Increase (decrease) in retirement benefit liability				(187)		(3)
Decrease (increase) in retirement benefit asset			(131)	(41)
Increase	(decrease)	in	provision for retirement			-		0
benefits for directors (and other officers)
Increase	(decrease)	in	provision	for	loss		on	(98)	(7)
litigation
Interest and dividend income								(284)		(249)
Interest expenses and interest expenses	of rental	240	250
payments
Foreign exchange losses (gains)								(43)		(122)
Loss (gain) on sale of non-current assets				(2,193)	(382)
Loss on retirement or abandonment of noncurrent			-		123
assets
Impairment losses								532	77
Loss (gain) on sale of investment securities					(387)		(338)
Decrease (increase) in trade receivables				(6,609)	3,862
Decrease (increase) in real estate for sale						-		1,596
Decrease	(increase)	in	costs	on	construction	(212)	2,881
contracts in progress
Decrease	(increase)	in	costs	on	uncompleted			248		(2,121)
development projects
Decrease (increase) in advances paid					978	(616)
Decrease (increase) in consumption taxes refund			(558)		899
receivable
Increase (decrease) in trade payables					2,169	(5,822)
Increase	(decrease)	in	advances	received	on			(6,877)		(4,792)
construction contracts in progress
Increase	(decrease)	in	advances	received		on	69	54
development projects
Increase (decrease) in deposits received						1,080		(2,906)
Increase (decrease) in accrued consumption taxes	5	2,322
Other, net										(792)		(45)
Subtotal									170	6,955
Interest and dividends received								284		249
Interest paid								(234)	(240)
Income taxes paid										(3,696)		(2,392)
Net cash provided by (used in) operating activities		(3,476)	4,572

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• p. 9 of Attachments

5. Supplementary Information

[Non-consolidated] Orders, net sales and projects in process

【Before Correction】 2) Net sales

							(Million yen)
		Category	For the fiscal year	For the fiscal year	Change
		ended May 31, 2020	ended May 31, 2021
			Amount	Composition	Amount	Composition	Amount	Percentage
			ratio	ratio
		Public sector in Japan	34,675	32.1%	26,225	25.6%	(8,450)	(24.4)%
Civil
	Private sector in Japan	11,628	10.8%	15,966	15.6%	4,337	37.3%
Engineering
	Overseas	-	-	-	-	-	-
Business
		Subtotal	46,304	42.9%	42,191	41.3%	(4,113)	(8.9)%
		Public sector in Japan	4,145	3.8%	8,697	8.5%	4,551	109.8%
Building		Private sector in Japan	50,928	47.2%	37,419	36.6%	(13,509)	(26.5)%
Business		Overseas	3,993	3.7%	5,908	5.8%	1,914	47.9%
		Subtotal	59,067	54.7%	52,024	50.9%	(7,042)	(11.9)%
		Public sector in Japan	38,821	36.0%	34,922	34.2%	(3,898)	(10.0)%
Total		Private sector in Japan	62,557	58.0%	53,385	52.2%	(9,172)	(14.7)%
	Overseas	3,993	3.7%	5,908	5.8%	1,914	47.9%
		Subtotal	105,372	97.6%	94,216	92.1%	(11,156)	(10.6)%
	Other Business	2,565	2.4%	8,030	7.9%	5,464	213.0%
	Grand total	107,937	100.0%	102,246	100.0%	(5,690)	(5.3)%
3) Projects in process
							(Million yen)
		Category	For the fiscal year	For the fiscal year	Change
		ended May 31, 2020	ended May 31, 2021
			Amount	Composition	Amount	Composition	Amount	Percentage
			ratio	ratio
		Public sector in Japan	39,706	31.8%	37,867	25.0%	(1,839)	(4.6)%
Civil
	Private sector in Japan	22,003	17.6%	35,633	23.5%	13,630	61.9%
Engineering
	Overseas	-	-	-	-	-	-
Business
		Subtotal	61,710	49.4%	73,500	48.4%	11,790	19.1%
		Public sector in Japan	10,770	8.6%	2,116	1.4%	(8,654)	(80.4)%
Building		Private sector in Japan	40,891	32.7%	61,408	40.5%	20,516	50.2%
Business		Overseas	11,502	9.2%	14,739	9.7%	3,236	28.1%
		Subtotal	63,165	50.6%	78,264	51.6%	15,098	23.9%
		Public sector in Japan	50,477	40.4%	39,983	26.3%	(10,493)	(20.8)%
Total		Private sector in Japan	62,895	50.4%	97,042	63.9%	34,146	54.3%
	Overseas	11,502	9.2%	14,739	9.7%	3,236	28.1%
		Subtotal	124,875	100.0%	151,764	100.0%	26,889	21.5%
	Other Business	36	0.0%	1	0.0%	(34)	(96.2)%
		Grand total	124,911	100.0%	151,766	100.0%	26,854	21.5%

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