Financial · November 1, 2017

Summary of Consolidated Financial Results: Second Quarter Fiscal Year Ending March 31, 2018 (Japan)

Summary

The consolidated financial results for Hibiya Engineering, Ltd. for the second quarter of the fiscal year ending March 31, 2018, reflect a period of mixed operational performance against a backdrop of moderate economic recovery in Japan. While the company experienced a decline in core profitability, significant gains from the sale of investment securities bolstered the bottom line. The report covers the six-month period from April 1, 2017, to September 30, 2017, and adheres to Japanese GAAP accounting standards. Operational data indicates that net sales decreased by 6.4% year-on-year to 27,705 million yen, and operating profit fell by 54.1% to 708 million yen. Ordinary profit also saw a decline of 37.8% to 918 million yen. Despite these operational contractions, profit attributable to owners of the parent surged by 454.8% to 5,006 million yen, primarily driven by 4,523 million yen in extraordinary income generated from the sale of investment securities. Orders received during the period showed resilience, increasing by 3.6% to 35,654 million yen, supported by steady demand in the construction sector for redevelopment and productivity-enhancing capital expenditures. The company’s financial position remains stable, with total assets of 82,615 million yen and an equity ratio of 80.5% as of September 30, 2017. Total liabilities decreased significantly to 14,302 million yen, largely due to a reduction in notes and accounts payable. Management has maintained its full-year forecast for the fiscal year ending March 2018, projecting net sales of 75,000 million yen and an operating profit of 4,000 million yen. No changes were reported regarding accounting principles, significant subsidiaries, or going concern assumptions during this reporting period.

From the report

November 7, 2017 Summary of Consolidated Financial Results For the Second Quarter of Fiscal Year Ending March 31, 2018 [Japan GAAP] Company: Hibiya Engineering, Ltd. Stock exchange listing: Tokyo Stock Exchange (First Section) Stock code: 1982 URL: http://www.hibiya-eng.co.jp/English Representative Director: Yoshiharu Nishimura, President Contact: Hiroshi Ikeji, Senior Executive Officer, Manager of IR and PR Office, Administration Division Tel: 03-3454-2720 Date of filing of quarterly securities report: November 8, 2017 (tentative) Date of commencement of dividend payment: December 4, 2017 (tentative) Supplementary explanatory documents: No Earnings presentation: Yes (For institutional investors and analysts) (Yen in millions, rounded down, figures in parentheses indicate negative amounts or percentages) 1. Financial results for the first half of the fiscal year ending March 2018 (April 1, 2017 – September 30, 2017) (1) Result of operations (Consolidated, year-to-date) (Percentage figures represent year on year changes) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % First half ended September 2017 27,705 (6.4) 708 (54.1) 918 (37.8) 5,006 454.8 First half ended September 2016 29,586 8.6 1,543 - 1,475 - 902 - Note: Comprehensive income: First half of FY3/2018: 6,198 million yen [-%], First half of FY3/2017: 489 million yen [-%] Earnings per share Earnings per share fully diluted Yen Yen First half ended September 2017 172.87 172.00 First half ended September 2016 30.81 30.64

8.6 1,543 - 1,475 - 902 - Note: Comprehensive income: First half of FY3/2018: 6,198 million yen [-%], First half of FY3/2017: 489 million yen [-%] Earnings per share Earnings per share fully diluted Yen Yen First half ended September 2017 172.87 172.00 First half ended September 2016 30.81 30.64 (2) Financial Position (Consolidated) Total assets Net assets Equity ratio Net assets per share Million yen Million yen % Yen As of September 30, 2017 82,615 68,312 80.5 2,302.36 As of March 31, 2017 93,661 63,719 65.4 2,117.40 Reference: Shareholders’ equity As of September 30, 2017: 66,503 million yen As of March 31, 2017: 61,251 million yen 2. Dividends Dividend per share End of 1Q End of 2Q End of 3Q End of FY Full year Yen Yen Yen Yen Yen Fiscal year ended March 2017 - 25.00 - 25.00 50.00 Fiscal year ending March 2018 - 30.00 Fiscal year ending March 2018 (estimate) - 30.00 60.00 Note 1: Change in the estimation of dividend from the latest announcement: No 2: FY3/17 dividends include 40.00 yen ordinary dividend and 10.00 yen commemorative dividend. 3. Forecast for the fiscal year ending March 2018 (Consolidated, April 1, 2017 to March 31, 2018) (Percentage figures represent year on year changes)

timation of dividend from the latest announcement: No 2: FY3/17 dividends include 40.00 yen ordinary dividend and 10.00 yen commemorative dividend. 3. Forecast for the fiscal year ending March 2018 (Consolidated, April 1, 2017 to March 31, 2018) (Percentage figures represent year on year changes) Net sales Operating profit Ordinary profit Profit attributable Earnings to owners of per share parent Million yen % Million yen % Million yen % Million yen % Yen Full year 75,000 (4.3) 4,000 (28.7) 5,000 (28.3) 7,300 40.2 252.35 Note: Change in the forecast from the latest announcement: No

* Notes (1) Changes in significant subsidiaries (Changes in specific subsidiaries accompanied by changes in the scope of consolidation): No (2) Use of of accounting methods specifically for the preparation of the quarterly consolidated financial statements: No (3) Changes in accounting principles and estimates, and retrospective restatement (a) Changes due to revision of accounting standards: No (b) Changes other than in (a): No (c) Changes in accounting estimates: No (d) Retrospective restatement: No (4) Number of shares outstanding (common shares) (a) Shares outstanding (including treasury shares) As of September 30, 2017: 31,000,309 As of March 31, 2017: 31,000,309 (b) Treasury shares As of September 30, 2017: 2,115,382 As of March 31, 2017: 2,072,671 (c) Average number of shares (quarterly consolidated cumulative period) Period ended September 30, 2017: 28,962,968 Period ended September 30, 2016: 29,290,476 * This report is exempt from the audit procedure Forward-looking statements, important notes, etc. These materials contain forward-looking statements that are based on information available to management as of the date of this report. Actual results may be materially different from these forecasts for a number of reasons. This is an English translation of the captioned report. This translation is prepared and provided for the purpose of the reader’s convenience.

information available to management as of the date of this report. Actual results may be materially different from these forecasts for a number of reasons. This is an English translation of the captioned report. This translation is prepared and provided for the purpose of the reader’s convenience. All readers are recommended to refer to the original version in Japanese of the report for complete information.

Index for Supplementary Information 1. Results of Operations ............................................................................................................................................. 2 (1) Overview on consolidated business performance......................................................................................... 2 (2) Overview of financial condition ..................................................................................................................... 2 (3) Forecast for fiscal year ending in March 2018 .............................................................................................. 2 2. Quarterly Consolidated Financial Statements and Important Notes ....................................................................... 3 (1) Quarterly consolidated balance sheet........................................................................................................... 3 (2) Quarterly consolidated statements of income and consolidated statements of comprehensive income....... 5 (Quarterly consolidated statements of income)............................................................................................. 5 (For the first half) .......................................................................................................................................... 5 (Quarterly consolidated statements of comprehensive income) ................................................................... 6 (For the first half) ..........................................................................................................................................

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Type: Financial

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