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EDINET Yoshikon Corporation

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ÿcoverÿ

ÿDocuments to be submittedÿ quarterly report

[Governing article] Article 24-4-7, Paragraph 1 of the Financial Instruments and Exchange Law

ÿPropose firstÿ Director of Tokai Local Finance Bureau

ÿSubmission dateÿ November 14, 2022

[Quarterly accounting period] The 2nd and 4th half of the 55th term (from July 1, 2022 to September 30, 2022)

ÿcompany nameÿ Yoshikon Co., Ltd.

[English translation name] Yoshicon Co., Ltd.

[Representative's title and name] President and Representative Director Naohiro Yoshida

[Location of head office] 1-4-12 Tokiwacho, Aoi Ward, Shizuoka City, Shizuoka Prefecture

ÿphone numberÿ 054-205-6363 (representative)

[Name of contact person] Sadaaki Sugimoto, Director, General Manager of Business Management Headquarters

[Nearest Contact Location] 1-4-12 Tokiwacho, Aoi Ward, Shizuoka City, Shizuoka Prefecture

ÿphone numberÿ 054-205-6363 (representative)

[Name of contact person] Sadaaki Sugimoto, Director, General Manager of Business Management Headquarters

[Place for public inspection] Tokyo Stock Exchange, Inc.

(2-1 Nihonbashi Kabutocho, Chuo-ku, Tokyo)

1/22
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Part 1 ÿCompany Informationÿ

Part 1 [Overview of the company]

1 [Changes in major management indicators, etc.]

The The
back time accumulative accumulative Issue 54
period of the 2nd and period of the 2nd and
4th half of the 54th period 4th half of the 55th period is From April 1, 2021
accounting period
from April 1, 2022 to September 30, 2022to
is from April 1, 2021 to September 30, 2021 March 31, 2022

amount of sales (thousand yen) 9,376,070 7,953,636 20,067,946

Ordinary income (thousand yen) 1,227,004 921,153 2,619,344

Quarterly (Current) Profit

(thousand yen) 788,787 591,416 1,643,561
Attributable to Owners of Parent

Quarterly comprehensive income or comprehensive income (thousand yen) 929,599 636,439 1,870,581

net worth (thousand yen) 21,820,460 22,953,821 22,703,085

total assets (thousand yen) 31,812,408 29,718,249 32,216,668

Quarterly (Current) Net Income per Share

(Circle) 106.21 82.42 223.96
Diluted Quarterly (Current) Net Income per

Share ÿ ÿ ÿ

(Circle)

own capital ratio ÿÿÿ 68.2 76.8 70.0

Cash flow from operating activities

(thousand yen) 178,594 ÿ1,302,836 5,434,716

Cash flow from investing activities

(thousand yen) 5,995,477 ÿ83,293 4,464,428

Cash flow from financing activities

(thousand yen) ÿ4,721,478 ÿ1,281,400 ÿ6,976,429

Quarter-end (end-of-period) balance of cash

(thousand yen) 2,584,230 1,386,821 4,054,351
and cash equivalents

The 2nd The 2nd

back time and 4th semi-period and 4th semi-period

linked accounting period linked accounting period

of the 54th period is from July of the 55th period is from July
accounting period
1, 2021 to September 30, 2021 1, 2022 to September 30, 2022

Quarterly net income per share (Circle) 8.07 23.90

(Notes) 1. As the Company prepares quarterly consolidated financial statements, changes in major management indicators, etc. of the submitting company are not described.
not here.

2 Diluted net income per share for the quarter (current period) is not stated because there are no dilutive shares.
plug.

2 [Contents of business]

There were no significant changes in the business operations of the Company and its affiliated companies during the second quarter of the fiscal year under review.

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Part 2 [Business Situation]

1 [Business Risks] There were no

new business risks during the second quarter of the fiscal year under review.

In addition, there have been no material changes to the business risks described in the securities report for the previous consolidated fiscal year.

2 [Management's analysis of financial condition, operating results and cash flow status] Matters related to the future in the

text are not determined by the Group (the Company and its consolidated subsidiaries) as of the last day of the current quarterly consolidated accounting period.

It is a decision.

(1) Financial condition and operating results

During the six months ended September 30, 2018, the Japanese economy saw signs of a gradual recovery as the impact of the novel coronavirus

disease eased and economic activity returned to normal. The outlook remained uncertain due to factors such as the depreciation of the yen and

soaring energy and raw material prices. In addition, the outlook for overseas economies remained uncertain due to factors such as rising global

prices against the backdrop of the situation in Russia and Ukraine, rising interest rates due to monetary tightening in Europe and the United States,

and a slowdown in the Chinese economy.

The real estate industry, to which the Group belongs, was also in a difficult situation, but in this environment, in the real estate business field of

the Group, we actively proposed sales of new condominiums, invitation of companies, and development of residential land. We have continued to

operate. In addition, in order to strengthen our efforts in the real estate securitization business, we have actively developed, acquired, and supplied

profitable real estate to listed real estate investment corporations.

In the material business field, which belongs to the construction and civil engineering industry, based on the idea of fabless, which does not have factory facilities,

We have been conducting sales activities with our strengths.

As a result, sales for the first half of the fiscal year under review were 7,953 million yen (down 15.2% year-on-year), operating income was 811

million yen (down 24.8% year-on-year), ordinary income Profit was 921 million yen (down 24.9% year-on-year), and profit attributable to owners of

parent was 591 million yen (down 25.0% year-on-year).

Results by segment are as follows.

(1) Residence business

In the residence business, sales increased significantly due to the delivery of new condominiums for sale.

It was profitable. As a result, net sales were 3,677 million yen (up 769.5% year-on-year), and segment profit (operating income) was 776 million

yen (-% year-on-year).

2) Real estate

development business In the real estate development business, residential land for sale and land for commercial and industrial facilities were

delivered. rice field. As a result, sales were 1,383 million yen (down 73.4% year-on-year), and segment profit (operating income) was 224 million

yen (down 76.6% year-on-year).

I got it. 3)

Leasing and management

business In the leasing and management business, sales and profits decreased compared to the same quarter of the previous fiscal year, when the

asset management company had sales at the time of listing of a real estate investment corporation. As a result, net sales were 1,552 million yen (down

31.6% year-on-year), and segment profit (operating income) was 114 million yen (down 68.2% year-on-year).

ÿMaterials business In

the materials business, sales and profits decreased (segment loss), despite the implementation of sales activities with strengths in product

planning. As a result, sales were 532 million yen (down 29.1% year-on-year) and segment loss (operating loss) was 26 million yen (segment loss

of 8 million yen in the same quarter of the previous year). ÿOthers

In other businesses, although sales of canned beverage manufacturing increased, they were unable to cover increased costs such as fuel

costs, resulting in higher sales but lower profits. As a result, sales were 808 million yen (up 11.5% year-on-year), and segment profit (operating

income) was 15 million yen (down 57.4% year-on-year).

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The financial condition of the Group is as follows.

(Assets)

Total assets at the end of the current second quarter consolidated accounting period were 29,718 million yen (down 7.8% from the previous consolidated

fiscal year). Current assets were 22,597 million yen (down 9.7% from the previous consolidated fiscal year) due to a decrease in cash and deposits, etc., despite

an increase in notes receivable, accounts receivable and contract assets. Fixed assets decreased 0.8% from the previous consolidated fiscal year to 7,120 million yen

due to a decrease in deferred tax assets, etc., despite an increase in security deposits and investment securities included in others. . (liabilities)

Current liabilities amounted to 3,737 million yen (down 38.3% year-on-year) due to decreases in contract liabilities and short-term loans payable included in others.

Fixed liabilities amounted to 3,026 million yen (down 12.5% from the previous consolidated fiscal year) due to a decrease in long-term loans payable. (Net assets) Net

assets at the end of the current second quarter consolidated accounting period were 22,953 million yen (up 1.1% from the previous consolidated fiscal year). The main

reason for the increase in net assets was an increase in retained earnings.

(Equity ratio) The

equity ratio at the end of the current second quarter consolidated accounting period was 76.8% (up 6.8 percentage points from the previous consolidated fiscal year).

(2) Status of Cash Flows Cash and cash

equivalents (hereinafter referred to as “funds”) at the end of the second quarter consolidated cumulative period were 1,386 million yen (previous year

(down 46.3% from the same quarter).

The status of each cash flow and their factors in the current second quarter consolidated cumulative period are as follows.

(Cash flow from operating activities) Net income

before income taxes (919 million yen), decrease in inventories (134 million yen), increase in accounts payable (120 million yen), etc. Increase in trade receivables

(-249 million yen), decrease in advances received (-1,206 million yen), and payment of corporate tax (-401 million yen) were used for fund procurement. As a result,

funds spent on operating activities amounted to 1,302 million yen (income of 178 million yen in the same quarter of the previous year). (Cash flow from investing

activities) The difference between the acquisition of fixed assets (-5 million yen) and guarantee deposits included in other items, against the proceeds from the sale of

investment securities (20 million yen). 83 million yen was spent on investment activities

(income of 5,995 million yen in the same quarter of the previous year). (Cash

flow from financing activities)

Net decrease in short-term loans payable (-760 million yen), repayment of long-term loans payable (-135 million yen), payment of dividends (-349 million yen) 1,281

million yen (4,721 million yen was used in the same quarter of the previous year).

(3) Business and financial issues to be addressed

During the first half of the fiscal year ending March 31, 2020, there were significant changes and new additions to the business and financial issues that the Group should address.

There were no issues with

(4) Research and development

activities The total amount of research and development expenses spent by the Group during the second quarter of the current consolidated cumulative period was 1 million yen.

3. [Important contracts, etc. for management]

There were no decisions or conclusions, etc. for important contracts, etc. for management during the second quarter consolidated accounting period.

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Part 3 [Status of the submitting company]

1 [Status of shares, etc.] (1)

[Total number of shares,

etc.] ÿ [Total number of shares]

type Total number of authorized shares (shares)

common stock 14,540,000

count 14,540,000

(2) [Issued shares]

Number of shares issued as of the end Number of shares Name of listed financial
type of the second quarter accounting issued as of date of instruments exchange or name content

period (September 30, 2022) submission (November 14, 2022) of registered financial

instruments firms association The number of shares constituting one

common stock 8,030,248 8,030,248
Tokyo Stock Exchange Standard Market trading unit is 100 shares.

ÿ ÿ

count 8,030,248 8,030,248

(2) [Status of Stock Acquisition Rights, etc.]

ÿ [Details of stock option system]

Not applicable.

ÿÿ

(2) Status of Other Stock Acquisition Rights, etc. Not

applicable.

(3) [Exercise status, etc. of corporate bonds with subscription rights to shares with exercise

price revision clause] Not applicable.

(4) [Trends in total number of issued shares, capital, etc.]

Change in total Number of Capital increase or decrease capital balance Increase/Decrease in Capital reserve

year month day number of issued outstanding capital reserve balance

shares (shares) shares (shares) (thousand yen) (thousand yen) (thousand yen) (thousand yen)

From July 1, 2022 to September

ÿ 8,030,248 ÿ 100,000 ÿ 1,854,455
30, 2022

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(5) [Status of Major Shareholders]

As of September 30, 2022

Percentage of
the number of
Number of shares owned shares owned to
name address
(1,000 shares) the total number of
issued shares
(excluding treasury shares) (%)

Shizuoka Prefecture Shizuoka City Aoi Ward Shichikencho 14-1 The

Wise Co., Ltd. 2,019 28.18
Emble Shichikencho 2703

Taiheiyo Cement Co., Ltd. 1-1-1 Koishikawa, Bunkyo-ku, Tokyo 320 4.46

1-4-12 Tokiwa-cho, Aoi-ku, Shizuoka-shi, Shizuoka Within Yoshikon

Yoshikon Business Partner Shareholding Association 290 4.04
Co., Ltd. 1-6-1 Roppongi, Minato-ku, Tokyo

SBI Securities Co., Ltd. 276 3.86

The Shizuoka Bank, Ltd. 1-10 Gofukucho, Aoi Ward, Shizuoka City, Shizuoka Prefecture 248 3.47

Mizuho Bank, Ltd. 1-5-5 Otemachi, Chiyoda-ku, Tokyo 248 3.47

Naohiro Yoshida Aoi Ward, Shizuoka City, Shizuoka Prefecture 241 3.37

Ritsushi Yoshida Aoi Ward, Shizuoka City, Shizuoka Prefecture 241 3.36

The Shoko Chukin Bank, Ltd. 2-10-17 Yaesu, Chuo-ku, Tokyo 218 3.05

BNY GCM CLIENT ACCOUNT JPRD AC ISG

ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
(FE-AC) (Standing proxy MUFG Bank, Ltd.)
ÿÿÿÿÿÿ
185 2.59

59.90
ÿ

4,291

Total (Notes) 1 In addition to the above, there are 866,000 shares of treasury stock held by the
Company. 2 In a Report of Possession of Large Volume available for public inspection dated November 11, 2019,
Although it is stated that (SAMARANG UCITS) owns the following shares as of November 1, 2019, we cannot confirm the actual number of shares held as of
September 30, 2022. Not included in the status of major shareholders above. The contents of the Report of Possession of Large Volume are as follows.

Number of share certificates, etc. held Holding ratio of stock certificates,

name
(1,000 shares) etc. (%)

Address 11a Monterey Road, L-2163, Luxembourg

Samaran Youshitz 402 5.01

(6) [Status of voting rights]

ÿ [Issued shares]

As of September 30, 2022

Number of voting rights

distinguish Number of shares (shares) content
(pieces)

ÿ ÿ ÿ

non-voting shares

ÿ ÿ ÿ

Shares with restricted voting rights (treasury shares, etc.)

ÿ ÿ ÿ

Shares with restricted voting rights (Others)

(Treasury stock) ÿ ÿ

Stock with full voting rights (treasury stock, etc.)

Common stock 866,800

Full Voting Shares (Other) common stock 7,157,900 71,579

Shares less than one unit common stock 5,548 ÿ Shares less than one trading unit (100 shares)

ÿ ÿ

Total number of issued shares 8,030,248

ÿ ÿ

Voting rights of all shareholders 71,579

(Note) Common stock in the “Shares less than one unit” column includes 93 shares of treasury stock owned by the Company.

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ÿ ÿOwn company, etc.ÿ

Number of shares held as of

The number of Number of shares held September 30, 2022 Number
owned toofthe
shares
total number
Name of owner
owner's address companies owned by in the name of another of issued shares Percentage (shares)
yourself (strains) person (shares)

(treasury stock) 1-4-12 Tokiwacho, Aoi

10.79
ÿ

866,800 866,800
Yoshikon Co., Ltd. Ward, Shizuoka City, Shizuoka Prefecture

10.79
ÿ

count 866,800 ÿ

866,800

2 [Status of Officers] Not

applicable.

7/22
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Part 4 [Accounting situation]

1 Method of preparation of quarterly consolidated financial statements

The quarterly consolidated financial statements of the Company are prepared in accordance with the Regulations Concerning Terminology, Forms and Preparation Methods of Quarterly Consolidated Financial Statements (Cabinet Office Ordinance 2007).

No. 64).

2 About audit certification

In accordance with the provisions of Article 193-2, Paragraph 1 of the Financial Instruments and Exchange
Act, The quarterly consolidated financial statements for the period from April 1, 2022 to September 30, 2022)
have been reviewed by Deloitte Touche Tohmatsu LLC.

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1 [Quarterly Consolidated Financial Statements]

(1) [Quarterly consolidated balance sheet]

(Unit: thousand yen)

Previous consolidated Current second quarter consolidated accounting

fiscal year (As of March 31, 2022) period (September 30, 2022)

Assets Current

assets Cash

and deposits Notes, 4,254,351 1,586,821

accounts receivable and contract assets 893,479 1,142,526

Merchandise and finished goods Raw materials 21,231 20,048

and supplies Real estate for sale Construction work 13,242 9,952

in progress Other Allowance for doubtful accounts 19,621,737 19,556,918

Total current assets Fixed assets Property, plant 11,296 15,725

and equipment Buildings and structures, net Land 225,607 269,803

Other, net Total property, plant and equipment ÿ3,141 ÿ4,398

Intangible assets Investments and other assets 25,037,803 22,597,397

Investment securities Deferred tax assets Other

Allowance for doubtful accounts Total investments

and other assets Total fixed assets Total 469,417 445,661

assets 1,655,252 1,617,218

96,224 67,093

2,220,893 2,129,974

54,590 45,243

4,447,870 4,534,829
ÿ

144,332

384,929 485,063

ÿ73,751 ÿ74,257

4,903,380 4,945,635

7,178,864 7,120,852

32,216,668 29,718,249

Liabilities section

Current

liabilities Notes and accounts 1,032,699 930,662

payable Short-term loans payable 2,000,000 1,240,000

Current portion of long-term loans payable 274,135 470,502

Income taxes payable Provision for bonuses 402,560 176,210

Provision for directors' bonuses Other Total 45,705 52,211

ÿ

current liabilities Fixed liabilities Long-term 180,000

loans Others Total fixed liabilities Total liabilities 2,118,778 868,132

6,053,879 3,737,717

2,843,483 2,511,583

616,220 515,126

3,459,703 3,026,710

9,513,583 6,764,428

9/22
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(Unit: thousand yen)

Previous consolidated Current second quarter consolidated accounting

fiscal year (As of March 31, 2022) period (September 30, 2022)

Net assets

Shareholders'

equity 100,000 100,000

Common stock 3,587,284 3,587,284

Capital surplus 19,326,629 19,573,815

Retained earnings ÿ693,886 ÿ730,498

Treasury stock Total 22,320,027 22,530,600

shareholders' equity Accumulated other

comprehensive income Valuation difference 238,254 280,068

on available-for-sale securities Total accumulated 238,254 280,068

other comprehensive income Non-controlling interests 144,803 143,152

Total net assets Total liabilities and net assets 22,703,085 22,953,821

32,216,668 29,718,249

10/22
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(2) [Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income]

[Quarterly Consolidated Income Statement]

[Second quarter consolidated cumulative period]

(Unit: 1,000 yen)

Accumulated period of the previous During the cumulative period of the 2nd
2nd and 4th half-term linkage and 4th half of the period (from
(from April 1, 2021 to September April 1, 2022 to September 30, 2022)

Net sales 30, 2021) 7,953,636

Cost of sales 9,376,070 6,311,367

Gross profit 7,364,621 1,642,269 ÿ1

Selling, general and administrative 2,011,449 ÿ1 831,216 811,053

expenses Operating income 933,615 1,077,833

Non-operating income Interest

income Dividend income 76 55

Purchase discounts Silent 8,674 66,205

partnership investment 3,158 4,159

income Commission income 134,327 43,749

Subsidy income Subsidy 1,877 1,837

income Other Total non- 20,958 10,656

operating income Non- 6,054 6,367

operating expenses Interest 11,257 12,454

expenses Paused fixed 186,385 145,483

Depreciation of assets Other

total non-operating expenses 33,888 17,902

ÿ

Ordinary income Extraordinary 15,791

income Gain on sale of fixed assets 3,325 1,688

Total extraordinary income 37,214 35,382

Extraordinary loss Loss on disposal of 1,227,004 921,153

fixed assets Total extraordinary loss

Total taxes Net income Net income 3,931 649

attributable to non-controlling 3,931 649

interests Net income attributable to

owners of parent 0 2,027

0 2,027

1,230,935 919,776

388,291 179,212

6,958 145,938

395,249 325,151

835,686 594,625

46,898 3,208

788,787 591,416

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[Quarterly Consolidated Statement of Comprehensive Income]

[Second quarter consolidated cumulative period]

(Unit: 1,000 yen)

The accumulative period of the previous During the cumulative period of the 2nd and
2nd and 4th half-term linkage (from 4th half of the period (from April 1,
April 1, 2021 to September 30, 2021) 2022 to September 30, 2022) 594,625

Net income Other 835,686

comprehensive income

Valuation difference on available-for-sale securities 93,913 41,814

Total other comprehensive income Comprehensive 93,913 41,814

income (breakdown) Comprehensive income attributable 929,599 636,439

to shareholders of parent company Comprehensive

income attributable to non-controlling interests 882,701 633,231

46,898 3,208

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(3) [Quarterly Consolidated Statement of Cash Flows]

(Unit: 1,000 yen)

Accumulation period of the previous 2nd During the 2nd and 4th half-term link
and 4th half-term linkage (from April accumulation period (from April 1,
1, 2021 to September 30, 2021) 2022 to September 30, 2022)

Cash flow from operating activities

Income before income taxes and 1,230,935 919,776

minority interests Depreciation Gain 39,615 48,930

(gain) on silent partnerships Increase ÿ134,327 ÿ43,749

(decrease) in allowance for doubtful accounts 3,231 1,763

Increase (decrease) in reserve for bonuses 2,267 6,506

Increase (decrease) in reserve for directors' bonuses ÿ144,000 ÿ180,000

ÿ

(decrease) (decrease) Stock-based compensation 44,150

expenses Interest and dividend income Interest ÿ8,751 ÿ66,260

expenses Gain (loss) on sale of fixed assets (gain) 33,888 17,902

Loss on retirement of fixed assets Decrease ÿ3,931 ÿ649

(increase) in inventories Decrease (increase) in 0 2,027

consumption taxes receivable Decrease (decrease) ÿ20,958 ÿ10,656

in accounts payable Increase (decrease) in accounts ÿ6,054 ÿ6,367

ÿ

payable Increase (decrease) Increase in accrued 15,791

consumption taxes (Decrease) Increase/decrease in 108,655 ÿ249,047

advances received (Decrease) Increase/Decrease in 686,419 134,307

deposits received (Decrease) Other subtotal Interest 126,364 ÿ55,376

and dividends received Interest paid Subsidies ÿ1,357,113 ÿ102,037

received Subsidies received Corporate taxes ÿ80,205 120,339

Payments for cash flows from operating activities 264,944 ÿ168,923

1,712 ÿ1,206,556

ÿ2,266 2,101

122,796 ÿ134,778

907,373 ÿ954,955

8,734 52,924

ÿ29,276 ÿ17,772

16,997 11,711

6,054 6,367

ÿ731,289 ÿ401,110

178,594 ÿ1,302,836

Cash flows from investing activities Payment for

purchase of fixed assets Proceeds from sale ÿ46,486 ÿ5,588

of fixed assets Payment for purchase of 5,560 650

ÿ

investment securities Proceeds from sale of ÿ1,266,000

investment securities Proceeds from refund of 916,996 20,317

investment in silent partnership Proceeds from 6,461,803 1,516

ÿ

cancellation of insurance reserves Loans 7,280

ÿ

receivable Income from collections Other Cash 1,575

flows from investing activities ÿ85,251 ÿ100,189

5,995,477 ÿ83,293

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(Unit: 1,000 yen)

Accumulation period of the previous 2nd During the 2nd and 4th half-term link
and 4th half-term linkage (from April accumulation period (from April 1,
1, 2021 to September 30, 2021) 2022 to September 30, 2022)

Cash flow from financing activities

Net increase (decrease) in short-term loans ÿ5,956,550 ÿ760,000
payable Proceeds from long-term loans payable 2,435,000
ÿ

Repayment of long-term loans payable ÿ612,997 ÿ135,456

Acquisition of treasury stock Dividends paid ÿ280,195 ÿ36,611
Proceeds from sales of shares of subsidiaries ÿ351,735 ÿ349,332
that did not change the scope of consolidation Cash flows from
45,000
ÿ

financing activities Flow Increase (decrease) in cash and cash

equivalents Cash and cash equivalents at beginning of period ÿ4,721,478 ÿ1,281,400
Increase (decrease) in cash and cash equivalents due to change in 1,452,593 ÿ2,667,530
scope of consolidation Cash and cash equivalents at end of quarter 1,339,247 4,054,351
Balance
ÿ207,610
ÿ

ÿ1 2,584,230 ÿ1 1,386,821

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[Notes]

(Change in accounting policy)

Current second quarter consolidated

cumulative period (From April 1, 2022 to September 30, 2022)

“Implementation Guidance on Accounting Standards for Calculating Market Value” (Accounting Standards Board of Japan Guidance No. 31 June 17, 2021. hereinafter referred to as the “Guidelines

for the Application of Market Value Accounting Standards”) will be applied from the beginning of the first quarter consolidated accounting period, and the application of the market value accounting

standards will be applied in accordance with the transitional treatment stipulated in Paragraph 27-2 of the Guidance for the Application of Market Value Accounting Standards. We plan to apply

the new accounting policies stipulated in the guidelines going forward. There is no impact on quarterly consolidated financial statements.

(Additional

information) (Transfer from property, plant and equipment to property for sale)

A portion of property, plant and equipment has been transferred to real estate for sale due to a change in the purpose of ownership. Its contents are as follows.

I will.

Previous fiscal year When the cumulative period of the 2nd

(From April 1, 2021 to March 31, and 4th semi-period links (from April
2022) ¥21,005 thousand ¥292,101 1, 2022 to September 30, 2022)

Buildings and structures thousand 6,224,000 yen

Land 38,034,000 yen

(Accounting estimates regarding the impact of the spread of COVID-19)

Regarding the assumptions regarding the new coronavirus infectious disease described in (additional information) of the securities report for the previous consolidated fiscal year,

No changes required.

(Quarterly Consolidated Balance Sheets) 1

Discounts on bills and endorsements

Previous consolidated Current second quarter consolidated accounting

fiscal year (As of March 31, period (September 30, 2022) 13,765

Endorsements of bills receivable 2022) ¥19,199 thousand thousand yen

(Quarterly Consolidated Statement of Income)

*1 Major items and amounts of selling, general and administrative expenses are as follows. Previous consolidated cumulative second

quarter (From April 1, 2021 to September Current second quarter consolidated

30, 2021) ¥16,644 thousand ¥210,755 cumulative period (From April 1, 2022
thousand ¥194,547 thousand to September 30, 2022) 11,931

Advertising ¥38,990 thousand thousand yen

expenses Employee salaries ¥6,344 thousand 227,412 thousand

and benefits Taxes Provision yen 113,809

for bonuses Retirement benefit thousand yen

expenses 45,576 thousand yen 6,185 thousand yen

(Related to Quarterly Consolidated Statement of Cash Flows)

*1 The balance of cash and cash equivalents at the end of the second quarter consolidated cumulative period and the items listed on the second quarter consolidated balance sheet

The relationship with the amount is as follows.

Accumulated period of the previous 2nd and Current second quarter consolidated
4th half-term linkage (from April 1, 2021 cumulative period (From April 1, 2022
to September 30, 2021) 2,884,230 to September 30, 2022) 1,586,821

Cash and deposit accounts thousand yen ÿ 300,000 thousand yen -200,000

Time deposits with a deposit term of more than 3 months thousand yen 2,584,230 thousand yen 1,386,821

Cash and cash equivalents thousand yen thousand yen

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(Shareholders' equity, etc.)

Previous consolidated cumulative second quarter (From April 1, 2021 to September 30, 2021) 1 Dividends paid

Total amount of dividends Dividend per

Resolution Type of shares Reference date Effective date Source of dividends
(thousand yen) share (yen)
June 25, 2021 Ordinary
common stock 352,398 47.00 March 31, 2021 June 28, 2021 Retained earnings
General Meeting of Shareholders

2 Among dividends whose record date belongs to the current second quarter consolidated cumulative period, the effective date of the dividend is after the end of the current second quarter consolidated accounting period.

what will be

Not applicable.

3 Significant fluctuations in shareholders' equity

Based on the resolution of the Board of Directors meeting held on July 30, 2021, the Company has acquired 248,800 shares of treasury stock. As a result, treasury stock stood at

635,530,000 yen at the end of the second quarter consolidated cumulative period.

During the 2nd and 4th semi-period linked accumulative period (from April 1, 2022 to September 30, 2022) 1

Distribution of pawn payment amount

Total amount of dividends Dividend per

Resolution Type of shares Reference date Effective date Source of dividends
(thousand yen) share (yen)
June 23, 2022 Ordinary
common stock 349,091 48.50 March 31, 2022 June 24, 2022 Retained earnings
General Meeting of Shareholders

2 Among dividends whose record date belongs to the current second quarter consolidated cumulative period, the effective date of the dividend is after the end of the current second quarter consolidated accounting period.

what will be

Not applicable.

3 Significant fluctuations in shareholders' equity

Based on the resolution of the Board of Directors meeting held on April 28, 2022, the Company has acquired 34,400 shares of treasury stock, resulting in an increase of 36,611,000 yen in

treasury stock during the second quarter consolidated cumulative period.

As a result, treasury stock stood at 730,498,000 yen at the end of the second quarter consolidated cumulative period.

(segment information, etc.)

[Segment information]

I. Previous consolidated cumulative second quarter (from April 1, 2021 to September 30, 2021) 1. Information on net

sales and profit or loss amounts by reportable segment

(Unit: thousand yen)

Reportable segments
Other
Leasing, total
Residence Real estate development Material business (Note)
management, count
business business
etc.

amount of sales

Sales to external customers 422,947 5,209,133 2,267,565 Internal sales or transfers between 751,468 8,651,113 724,957 9,376,070

segments ÿ ÿ

3,000 102,757 105,757 1,739 107,497

count 422,947 5,209,133 2,270,565 854,226 8,756,871 726,696 9,483,567

Segment Income (Loss) (ÿ) (Note)

16,677 962,210 358,296 ÿ8,042 1,329,141 36,426 1,365,567
The “Others” category includes

business segments not included in reportable segments, such as the beverage manufacturing business, apparel business and insurance agency business.

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2. Difference between the total amount of profit or loss of the reportable segment and the amount recorded on the quarterly consolidated statements of income, and the main details of such difference

(Matters Concerning Reconciliation of Differences)

(Unit: thousand yen)

Benefit the amount

Reportable segment total 1,329,141

Earnings in the 'Other' segment 36,426

Intersegment transaction elimination ÿ2,468

Corporate expenses (Note) ÿ285,265

Quarterly Consolidated Income Statement Operating Income 1,077,833

(Note) Company-wide expenses are mainly general and administrative expenses that do not belong to reportable segments.

II Current consolidated cumulative second quarter (April 1, 2022 to September 30, 2022) 1 Information on sales and

profit or loss amounts by reportable segment

(Unit: thousand yen)

Reportable segments
Other
Leasing, total
Residence Real estate development Material business (Note)
management, count
business business
etc.

amount of sales

Sales to external customers 3,677,409 1,383,216 1,552,049 Internal sales or transfers between 532,821 7,145,496 808,140 7,953,636

segments ÿ ÿ

102,850 368,916 471,766 1,295 473,061

count 3,677,409 1,383,216 1,654,899 901,737 7,617,262 809,435 8,426,697

Segment Income (Loss) (ÿ) (Note)

776,568 224,806 114,054 ÿ26,356 1,089,072 15,500 1,104,572
The “Others” category includes

business segments not included in reportable segments, such as the beverage manufacturing business, apparel business and insurance agency business.

2. Difference between the total amount of profit or loss of the reportable segment and the amount recorded on the quarterly consolidated statements of income, and the main details of such difference

(Matters Concerning Reconciliation of Differences)

(Unit: thousand yen)

Benefit the amount

Reportable segment total 1,089,072

Earnings in the 'Other' segment 15,500

Intersegment transaction elimination ÿ34,704

Corporate expenses (Note) ÿ258,814

Quarterly Consolidated Income Statement Operating Income 811,053

(Note) Company-wide expenses are mainly general and administrative expenses that do not belong to reportable segments.

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(Revenue recognition related)

Information that disaggregates revenue from contracts with customers

Accumulation period of the previous 2nd and 4th half-term linkage (from April 1, 2021 to September 30, 2021)

(Unit: thousand yen)

Reportable segments
Other
Leasing, total
Residence Real estate development Material business (Note) 1
management, count
business business
etc.
ÿ

real estate sale 422,605 5,208,563 ÿ 5,631,169 ÿ 5,631,169

341 570
ÿ ÿ

Real estate brokerage and management 430,823 431,734 431,734

Contract work ÿ 1,427,378 ÿ 1,427,378 ÿ 1,427,378

ÿ ÿ ÿ ÿ

product 751,468 751,468 751,468

ÿ ÿ ÿ ÿ

others ÿ 724,957 724,957

Revenue from contracts with

422,947 5,209,133 1,858,201 751,468 8,241,750 724,957 8,966,707
customers

ÿ ÿ ÿ ÿ

Other income (Note 2) 409,363 409,363 409,363

Sales to external customers 422,947 5,209,133 2,267,565 (Note) 1. The “Others” category 751,468 8,651,113 724,957 9,376,070

includes business segments not included in reportable segments, such as the beverage manufacturing business, apparel business and insurance business.
Insurance agency business, etc. are included.
2. Other income includes rental income based on “Accounting Standard for Lease Transactions” (ASBJ Statement No. 13, March 30, 2007).

When the 2nd and 4th semi-periods are linked and accumulated (from April 1, 2022 to September 30, 2022)

(Unit: thousand yen)

Reportable segment
Other
Leasing, management, total
Residence Real estate development Material business (Note) 1
etc. business count
business business

real estate sale 3,677,034 1,383,216 ÿ 5,060,251 ÿ 5,060,251

374
ÿ ÿ ÿ

Real estate brokerage and management 315,722 316,096 316,096

ÿ ÿ ÿ ÿ

Contract work 894,330 894,330 894,330

ÿ ÿ ÿ ÿ

product 532,821 532,821 532,821

ÿ ÿ ÿ ÿ

others ÿ 808,140 808,140

Revenue from contracts with

3,677,409 1,383,216 1,210,052 532,821 6,803,500 808,140 7,611,640
customers

ÿ ÿ ÿ ÿ

Other income (Note 2) 341,996 341,996 341,996

Sales to external customers 3,677,409 1,383,216 1,552,049 532,821 7,145,496 808,140 7,953,636

(Note) 1. The “Others” category includes business segments not included in reportable segments, such as the beverage manufacturing business, apparel business and insurance business.
Insurance agency business, etc. are included.
2. Other income includes rental income based on “Accounting Standard for Lease Transactions” (ASBJ Statement No. 13, March 30, 2007).

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(E01202) Quarterly Repor

(Per share information)

Quarterly net income per share and calculation basis are as follows. Previous consolidated cumulative

second quarter (From April 1, 2021 When the 2nd and 4th semi-periods are
project to September 30, 2021) linked and accumulated (from April 1,
2022 to September 30, 2022)

Quarterly net income per share 106 yen 21 sen 82.42 yen

(Calculation basis)

Profit attributable to owners of parent (thousand yen) 788,787 591,416

Quarterly net income attributable to parent company shareholders related

788,787 591,416
to common stock (thousand yen) Average number of common stock

during the period (thousand shares) 7,426 7,176

(Note) Quarterly diluted net income per share is not stated as there are no dilutive shares.

(Significant Subsequent

Events) Second Quarter Consolidated Cumulative Period (From April 1, 2022 to September 30, 2022)

Not applicable.

2 [Others]
Not applicable.

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Part 2 [Information on the guarantor company, etc. of the submitting company]

Not applicable.

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Independent Auditor's Quarterly Review Report

November 14, 2022

Yoshikon Co., Ltd.

To the Board of Directors

Deloitte Touche Tohmatsu LLC

Shizuoka Office

Designated limited liability

Takaya Goukon Certified Public Accountant
partner Engagement partner

Designated limited liability

Certified Public Accountant Hirokazu Ishiguro
partner Engagement partner

Auditor's Conclusion

Based on the provisions of Article 193-2, Paragraph 1 of the Financial Instruments and Exchange Act, we have reviewed Yoshikon Co., Ltd.'s accounting status from April

1, 2022 to 2023. For the fiscal year ending March 31, the second quarter (from July 1, 2022 to September 30, 2022) and the second quarter (from April 1, 2022 to September

30, 2022) quarterly consolidated financial statements, i.e. quarterly consolidated balance sheets, quarterly consolidated statements of income, quarterly consolidated

statements of comprehensive income, quarterly consolidated statements of cash flows and notes . In the quarterly review conducted by our audit firm, the above quarterly

consolidated financial statements conformed to the preparation standards for quarterly consolidated financial statements generally accepted in Japan. In all material respects,

we have found no matters leading to the belief that the Company's financial position as of March 30 and its operating results and cash flow conditions for the six months

ended September 30, 2014 were not properly presented.

Auditor's Basis for Conclusions

We conducted our quarterly review in accordance with quarterly review standards generally accepted in Japan. Our responsibilities under the standards of the quarterly

review are described in “Auditor's Responsibilities in the Quarterly Review of the Quarterly Consolidated Financial Statements”. We are independent from the Company and

its consolidated subsidiaries in accordance with the regulations on professional ethics in Japan, and we are fulfilling other ethical responsibilities as an auditor. We have

determined that we have obtained evidence on which to base our conclusions.

Responsibilities of Management, Corporate Auditors and Board of Corporate Auditors for Quarterly Consolidated Financial Statements

The responsibility of management is to prepare and properly present quarterly consolidated financial statements in accordance with standards for the preparation of

quarterly consolidated financial statements generally accepted in Japan. This includes designing and operating internal controls that management deems necessary to

prepare and fairly present quarterly consolidated financial statements that are free from material misstatement due to fraud or error.

In preparing quarterly consolidated financial statements, management should evaluate whether it is appropriate to prepare quarterly consolidated financial statements

based on the assumption of a going concern, and consider quarterly consolidated financial statements generally accepted as fair and appropriate in Japan. You are

responsible for disclosing matters relating to going concern, if such matters are required to be disclosed under the preparation standards.

The statutory auditors and the statutory auditors' board are responsible for overseeing the directors' performance of their duties in designing and operating the financial reporting

process.

Auditor's Responsibility in the Quarterly Review of the Quarterly Consolidated Financial

Statements

The purpose is to express a conclusion on the interim consolidated financial statements.

In accordance with the quarterly review standards generally accepted in Japan, the auditor shall pass through the quarterly review process.

Accordingly, use professional judgment and maintain professional skepticism to:

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• Conducts inquiries, analytical procedures and other quarterly review procedures primarily of those responsible for management, financial and accounting matters; The quarterly review

procedure is a limited procedure compared to the annual financial statement audit conducted in accordance with auditing standards generally accepted in Japan.

• If it is determined that there are material uncertainties regarding events or circumstances that may give rise to material doubts regarding matters related to the premise of going concern, it will

be disclosed in the quarterly consolidated financial statements in Japan based on the evidence obtained. We conclude whether there are any matters that lead us to believe that they are not

fairly presented in accordance with generally accepted standards for the preparation of quarterly consolidated financial statements. In addition, if material uncertainties related to going

concern assumptions are identified, the quarterly review report should draw attention to the notes to the quarterly consolidated financial statements, or the quarterly consolidated financial

statements regarding material uncertainties should be referred to in the quarterly review report. If the notes are not appropriate, we are required to express a qualified conclusion or a negative

conclusion on the quarterly consolidated financial statements. Although the auditor's conclusions are based on evidence obtained up to the date of the quarterly review report, future events

or circumstances may render the company unable to continue as a going concern.

• Whether or not there are any matters that could lead to the belief that the presentation and notes of the quarterly consolidated financial statements do not comply with the preparation

standards for quarterly consolidated financial statements generally accepted in Japan, and including related notes Fair presentation of the presentation, composition and content of the

quarterly consolidated financial statements, as well as the transactions and accounting events on which the quarterly consolidated financial statements are based.

Evaluate whether or not the items that make you believe that they are not true are unacceptable.

• Obtain evidence about the financial information of the company and its consolidated subsidiaries in order to express a conclusion on the quarterly consolidated financial statements.

The auditor is responsible for directing, supervising and performing the quarterly review of the quarterly consolidated financial statements. The auditor is solely responsible for the auditor's

conclusions.

The auditor reports to the corporate auditors and the board of corporate auditors on the planned scope of the quarterly review, the timing of its implementation, and important findings of the

quarterly review. The auditor shall inform the auditors and the board of auditors that they have complied with the professional ethics regulations in Japan regarding independence, matters that are

reasonably thought to affect the independence of the auditor, and obstacles. If safeguards are in place to eliminate or reduce

Conflicts of

Interest There are no conflicts of interest that should be noted under the provisions of the Certified Public Accountant Law between the Company and its consolidated subsidiaries and our firm or our executive partners.

stomach.

above

(Note) 1. The original of the quarterly review report above is kept separately by our company (the company submitting the quarterly report). 2. XBRL data was not included

in the quarterly review.

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