Disclaimer: This financial information, a digest of Taisei Corporation's "Consolidated Financial Results for the Fiscal Year Ended March 31, 2023" ("Kessan Tanshin") disclosed at the Tokyo Stock Exchange on May 12, 2023 was translated into English and presented solely for the convenience of non-Japanese speaking users. If there is any discrepancy between Japanese "Kessan Tanshin" and this document, Japanese "Kessan Tanshin" will prevail.

May 12, 2023

Consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (FY2022)

[Japanese GAAP]

Listed company name:

Taisei Corporation

Stock exchange listing:

Tokyo Stock Exchange, Prime Market

Nagoya Stock Exchange, Premier Market

Stock code:

1801

Location of headquarters:

Tokyo, Japan

Website:

https://www.taisei.co.jp/

Representative:

Yoshiro Aikawa, President and Chief Executive Officer

Contact:

Yuichi Nakano, General Manager of Accounting Department

TEL:

81-3-3348-1111 (from overseas)

Scheduled date for ordinary general

meeting of shareholders:

June 27, 2023

Scheduled date for dividend payment:

June 28, 2023

Scheduled date for submission of

securities report:

June 28, 2023

Supplementary materials for

financial summaries:

Yes

Financial results briefing:

Yes (for analysts and institutional investors)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (FY2022)

(From April 1, 2022 to March 31, 2023)

(1) Operating results

(Millions of yen, rounded down)

(Percentages indicate changes from the same period in the previous fiscal year.)

Net sales

Operating income

Ordinary income

Net income attributable

to owners of parent

%

%

%

%

FY2022 (Full year-end)

1,642,712

6.4

54,740

(43.0)

63,125

(38.9)

47,124

(34.0)

As of March 31, 2023

FY2021 (Full year-end)

1,543,240

4.3

96,077

(26.4)

103,247

(24.0)

71,436

(22.8)

As of March 31, 2022

(Note) Comprehensive income:

FY2022(Full year-end)

36,600 million yen

(51.0 %)

FY2021(Full year-end)

74,765 million yen

(45.9 %)

Net income

Diluted net income

Return on equity

Ordinary income

Operating income

per share

per share

/total assets

/net sales

yen

yen

%

%

%

FY2022 (Full year-end)

241.24

-

5.6

3.2

3.3

As of March 31, 2023

FY2021 (Full year-end)

350.88

-

8.4

5.4

6.2

As of March 31, 2022

(Reference)Equity in earnings of affiliates:

FY2022(Full year-end)

2,054 million yen

FY2021(Full year-end)

893 million yen

1

(2) Financial position

(Millions of yen, rounded down)

Total assets

Net assets

Equity ratio

Net assets per share

%

yen

As of March 31, 2023

2,016,717

833,944

41.1

4,402.01

As of March 31, 2022

1,956,200

872,835

44.4

4,335.78

(Reference) Shareholders' equity:

As of March 31, 2023

829,187 million yen

As of March 31, 2022

868,886 million yen

(3) Cash flows

(Millions of yen, rounded down)

Cash flows from

Cash flows from

Cash flows from

Cash and cash

equivalents at end of

operating activities

investing activities

financing activities

period

FY2022 (Full year-end)

30,101

(14,058)

(98,668)

415,863

As of March 31, 2023

FY2021 (Full year-end)

80,507

(37,680)

(41,863)

496,760

As of March 31, 2022

2. Dividends

(Millions of yen, rounded down)

Dividends per share (yen)

Total

Dividend

Ratio of

First

Third

Total

dividends to

Interim

Year

dividends

payout ratio

quarter-

quarter-

(Full

equity

-end

-end

(annual)

(consolidated)

end

end

year)

(consolidated)

yen

yen

yen

yen

yen

%

%

FY2021

-

65.00

-

65.00

130.00

26,244

37.0

3.1

FY2022

-

65.00

-

65.00

130.00

24,940

53.9

3.0

FY2023 (Forecast)

-

65.00

-

65.00

130.00

53.7

3. Consolidated results forecast for the fiscal year ending March 31, 2024 (FY2023)

(From April 1, 2023 to March 31, 2024)

(Millions of yen, rounded down) (Percentages indicate the rate of change from the same period of the previous fiscal year)

Net sales

Operating income

Ordinary income

Net income

Net income

attributable to

per share

owners of parent

%

%

%

%

yen

Full fiscal year

1,760,000

7.1

64,000

16.9

67,000

6.1

45,000

(4.5)

242.03

2

*Notes

(1)

Changes in significant subsidiaries during the period

(Changes in specified subsidiaries accompanying changes in scope of consolidation):

None

(2)

Changes in accounting principles, changes in accounting estimates and restatements

(i)

Changes in accounting principles due to revisions to accounting standards, etc.:

Yes

(ii)

Changes due to accounting principles other than (i):

None

(iii)

Changes in accounting estimates:

None

(iv)

Restatements:

None

  1. Number of shares outstanding (common stock)
    1. Number of shares outstanding at the end of period (including treasury stock)

As of March 31, 2023

188,771,572 shares

As of March 31, 2022

200,803,372 shares

ii. Number of treasury stock at the end of period

As of March 31, 2023

405,934 shares

As of March 31, 2022

404,114 shares

iii. Average number of shares during the period

FY2022(Full year-end)

195,346,624 shares

FY2021(Full year-end)

203,591,188 shares

(Note) The number of treasury stock at the end of the period and number of treasury stock excluded for calculating average number of shares during the period include the Company's shares held by the Board Benefit Trust (BBT).

(As of March 31, 2023 104,300 shares, As of March 31, 2022 104,300 shares)

3

Reference: SUMMARY OF NON-CONSOLIDATED FINANCIAL STATEMENTS

1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (FY2022)

(From April 1, 2022 to March 31, 2023)

(1) Operating results

(Millions of yen, rounded down) (Percentages indicate changes from the same period in the previous fiscal year.)

Net sales

Operating income

Ordinary income

Net income

%

%

%

%

FY2022 (Full year-end)

1,325,598

8.7

41,655

(44.7)

49,691

(39.3)

36,951

(36.0)

As of March 31, 2023

FY2021 (Full year-end)

1,219,267

6.5

75,293

(31.4)

81,856

(29.3)

57,743

(26.2)

As of March 31, 2022

Net income per share

Diluted net income per share

yen

yen

FY2022 (Full year-end)

189.16

-

As of March 31, 2023

FY2021 (Full year-end)

283.63

-

As of March 31, 2022

(2) Financial position

(Millions of yen, rounded down)

Total assets

Net assets

Equity ratio

Net assets per share

%

yen

As of March 31, 2023

1,756,258

635,831

36.2

3,375.52

As of March 31, 2022

1,690,241

675,164

39.9

3,369.09

(Reference) Shareholders' equity: As of March 31, 2023

635,831 million yen

As of March 31, 2022

675,164 million yen

2.Non-consolidated results forecast for the fiscal year ending March 31, 2024 (FY2023)

(From April 1, 2023 to March 31, 2024)

(Millions of yen, rounded down) (Percentages indicate the rate of change from the same period of the previous fiscal year)

Net sales

Operating income

Ordinary income

Net income

Net income

per share

%

%

%

%

yen

Full fiscal year

1,420,000

7.1

44,000

5.6

47,000

(5.4)

32,000 (13.4)

172.11

  • This financial statement is exempt from auditing procedures.
  • Disclaimer regarding appropriate use of forecasts and related points of note
    Earnings forecasts in this document are based on information available at present and logical assessments and do not represent any promise by the Company. Actual results can be materially different from expectations due to a variety of factors.

4

Overview of Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024

(100 million yen; amounts less than 100 million yen are rounded to the nearest 100 million yen (partially adjusted for fractions))

Full fiscal year

Previous

Next fiscal year

fiscal year

Current fiscal year

(From April 1,

(From April 1, 2023

(From April 1, 2022 to March 31, 2023)

2021 to March

to March 31, 2024)

31, 2022)

Result

Forecast

Over

Over current

Result

previous

Over forecast

Forecast

fiscal year

fiscal year

Amount of orders received

15,897

18,000

18,104

2,207

104

17,800

(304)

Civil engineering

4,472

5,100

5,315

843

215

4,800

(515)

Building construction

10,177

11,700

11,525

1,348

(175)

11,700

175

Real estate development

1,140

1,100

1,149

9

49

1,200

51

Other

108

100

115

7

15

100

(15)

Net sales

15,432

17,700

16,427

995

(1,273)

17,600

1,173

Civil engineering

4,146

4,600

4,232

86

(368)

4,800

568

Building construction

9,849

11,900

10,927

1,078

(973)

11,500

573

Real estate development

1,329

1,100

1,153

(176)

53

1,200

47

Other

108

100

115

7

15

100

(15)

Gross Profit

%

12.2

11.0

9.0

(3.2)

(2.0)

9.4

0.4

1,877

1,940

1,478

(399)

(462)

1,660

182

Civil engineering

%

17.2

16.1

17.2

-

1.1

16.7

(0.5)

714

740

727

13

(13)

800

73

Building construction

%

9.1

7.9

4.4

(4.7)

(3.5)

4.9

0.5

898

940

486

(412)

(454)

565

79

Real estate development

%

18.0

21.4

20.5

2.5

(0.9)

22.5

2.0

239

235

236

(3)

1

270

34

Other

%

24.1

25.0

24.9

0.8

(0.1)

25.0

0.1

26

25

29

3

4

25

(4)

SG&A expenses

%

(6.0)

(5.5)

(5.7)

0.3

(0.2)

(5.8)

(0.1)

(916)

(970)

(931)

(15)

39

(1,020)

(89)

Operating income

%

6.2

5.5

3.3

(2.9)

(2.2)

3.6

0.3

961

970

547

(414)

(423)

640

93

Non-operating income

84

60

97

13

37

70

(27)

Non-operating expenses

(13)

(30)

(13)

(0)

17

(40)

(27)

(Net financial revenue)

55

30

50

(5)

20

36

(14)

Ordinary income

%

6.7

5.6

3.8

(2.9)

(1.8)

3.8

-

1,032

1,000

631

(401)

(369)

670

39

Extraordinary income

18

10

66

48

56

-

(66)

Extraordinary losses

(15)

(20)

(16)

(1)

4

(10)

6

Income before income taxes

%

6.7

5.6

4.1

(2.6)

(1.5)

3.8

(0.3)

and minority interests

1,035

990

681

(354)

(309)

660

(21)

Income taxes and others

(319)

(320)

(207)

112

113

(210)

(3)

Net income

%

4.6

3.8

2.9

(1.7)

(0.9)

2.6

(0.3)

716

670

474

(242)

(196)

450

(24)

Net income(loss) attributable

(2)

-

(3)

(1)

(3)

-

3

to non-controlling interests

Net income attributable to

%

4.6

3.8

2.9

(1.7)

(0.9)

2.6

(0.3)

owners of parent

714

670

471

(243)

(199)

450

(21)

  • Forecasts for the current fiscal year under review are the figures released on February 8, 2023.
    5

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Taisei Corporation published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 04:21:09 UTC.