Nishimatsu Construction Co., Ltd.

Consolidated

Financial Results (abstract)

Interim Report for Six Months Ended 30th September 2005

as of 30th September 2005

Consolidated

Nishimatsu Construction Co., Ltd.

	Millions of Yen	Millions of Yen	Thousands of U.S. Dollars
*(1) Result of Operations*	2004(Semi-Annual)	2005(Semi-Annual)	2005(Semi-Annual)

Net Sales	152,855	148,015	1,307,674
Income from Operations	752	1,694	14,969
Net Income	412	956	8,448


Per Share of Common Stock (In Yen)
Net Income	1.49 yen	3.45 yen	0.030


*(2) Assets and Equity*

Total Assets	715,271	702,735	6,208,455
Total Shareholders' Equity	177,789	193,538	1,709,855
Equity/ Assets Ratio (%)	24.9%	27.5%	27.5%
Shareholders' Equity per Share (In Yen)	640.34 yen	697.28 yen	6.16


*(3) Cash Flows*

Cash flows from operating activities	-20,062	-9,576	-84,607
Cash flows from investing activities	12,583	4,423	39,078
Cash flows from financing activities	21,020	-33,985	-300,251
Cash balance as of 30th September 2005	104,578	68,554	605,660

	Millions of Yen	Millions of Yen
*(4) Forecast for Fiscal Year 2005*	First Half of the Year	Whole Year

Net Sales	-	434,500
Ordinary Profit	-	11,200
Net Income	-	1,000

Note 1: Figures in US$ in this report are converted from yen at the rate of 113.19JPY=US$1.00, the rate prevailing on 30th September 2005, for the readers' convenience only.
Note 2: Net income per share of common stock is based upon the weighted average number of shares of common stock outstanding during each year.
Note 3: The company prepared the consolidated financial statements as of this fiscal year, not drawing any parallels between prior fiscal year's and this years' figures.
Note 4: Nishimatsu Construction Co., Ltd. has eight subsidiaries and eleven affiliates, but only Shoei Real Estate Co., Ltd. is consolidated with the company. The others have been excluded because of the trival influence on total income and equity. Also, the equity method of accounting was not applied.