Nishimatsu Construction Co., Ltd.

Business Performance

Nishimatsu Construction Co., Ltd.

Notice on Business Performance for the 3rd Quarter from April 1 to December 31, 2009

as of 12th February 2010

1. Financial Results (abstract)

Consolidated

	Millions of Yen	Millions of Yen	Thousands of U.S. Dollars
*(1) Result of Operations*	2008(3rd Quarter)	2009(3rd Quarter)	2009(3rd Quarter)

Net Sales	301,745	266,020	2,888,390
Income from Operations	6,245	-1,654	-17,966
Ordinary Profit	6,611	-2,036	-22,113
Net Income	901	-1,872	-20,333


Per Share of Common stock (In Yen)
Net Income	3.25yen	-6.75yen	-0.073dollars


*(2) Assets and Net Assets*

Total Assets	612,249	480,482	5,216,960
Total Net Assets	158,514	153,293	1,664,427
Net Assets / Assets Ratio (%)	25.8%	31.8%	31.8%
Net Assets per Share 　(In Yen)	569.61 yen	550.27 yen	5.975 dollars

	Millions of Yen
*(3) Forecast for Fiscal Year 2009*	Whole Year

Net Sales	446,000
Income from Operations	3,700
Ordinary Profit	3,600
Net Income	3,100

Please note that the above business forecast is based on information available at the time of the 3rd quarter Report , and so there is a possibility of change due to various factors.

2. Non-Consolidated Business Performance for the 3rd Quarter ending December 31, 2009

	Orders Received (millions of yen)	Growth (%)
2009	166,690	-14.4%
2008	194,671	-18.2%

Note: (a). Financial figures herein are simply rounded down to the nearest millions of yen.
(b). The percent figure shows the rate compared to the same period from last year.

Breakdown of Non-Consolidated Orders Received

	3rd Quarter from April 1 to December 31
	2008		2009		Growth
	Millions of yen	％	Millions of yen	％	Millions of yen	％
Construction
Civil Engineering
Domestic-Public Sector	32,541	16.7	30,902	18.5	-1,638	-5.0
Domestic-Private Sector	21,499	11.1	12,811	7.7	-8,687	-40.4
Overseas	16,574	8.5	10,970	6.6	-5,603	-33.8
Civil Engineering Sub-total	70,615	36.3	54,685	32.8	-15,930	-22.6
Buildings
Domestic-Public Sector	4,379	2.3	6,274	3.8	1,895	43.3
Domestic-Private Sector	107,974	55.4	99,129	59.5	-8,844	-8.2
Overseas	673	0.3	375	0.2	-297	-44.2
Buildings Sub-total	113,027	58.0	105,779	63.5	-7,247	-6.4
Domestic-Public Sector Total	36,921	19.0	37,177	22.3	256	0.7
Domestic-Private Sector Total	129,474	66.5	111,941	67.2	-17,532	-13.5
Overseas Total	17,247	8.8	11,346	6.8	-5,901	-34.2
Total	183,642	94.3	160,464	96.3	-23,177	-12.6

Real Estate, etc.	11,028	5.7	6,226	3.7	-4,802	-43.5
Grand Total	194,671	100.0	166,690	100.0	-27,980	-14.4

3. Non-Consolidated Business Performance for Financial Year ending March 31, 2010

	Orders Received (millions of yen)	Growth (%)
2009(forecast)	316,500	14.4%
2008(actual)	276,677	-31.3%

Note: (a). Financial figures herein are simply rounded down to the nearest millions of yen.
(b). The percent figure shows the rate compared to the same period from last year.

〔Qualitative information on Non-Consolidated orders received〕

Non-consolidated orders received for this quarter decreased 28.0 billion yen, or 14.4%, compared to the same period from last year. The main factors for this can be attributed to an approx. 17.5 billion yen decrease in orders received for the domestic building sector, approx. 5.9 billion yen decrease in the overseas orders, and an approx. 4.8 billion yen decrease in orders received for the real estate. etc.

Note 1: Figures in US$ in this report are converted from yen at the rate of 92.10JPY=US$1.00, the rate prevailing on 31st December, 2009, 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: With regard to recognition of sales for completed projects, the Company had adopted the percentage of completion method for long-term major projects (with project value of over ¥100 million and duration of over one year), while the Company has used the completed contract method for other projects. Starting this 1st quarter, the Company adopted the percentage of completion method for the projects starting this 1st quarter, which progress’s reasonably measured until end of this quarter, and used the completed contract method for other projects. For overseas consolidated subsidiaries, the Group has, in principle, adopted the percentage of completion method.
Note 4 : Please note that the above business forecast is based on information available at the time of the Financial Results, and so there is a possibility of future change due to various factors.