SｓConsolidated Financial Results for the Fiscal Year Ended March 31, 2024
(Japanese GAAP)May 14, 2024

Name of Listed Company: Kaneka Corporation
Code Number:

Stock Exchange Listing: Tokyo
URL https://www.kaneka.co.jp/en/

4118

Representative: Kazuhiko Fujii, President, Representative Director
Contact Person: Osamu Ishida, Managing Executive Officer – Investors & Public Relations Department Phone: +81-3-5574-8090
Scheduled date for Annual General Meeting of Shareholders: June 27, 2024
Scheduled date of dividend distribution: June 6, 2024
Scheduled date for filing annual securities report: June 27, 2024
Note: Figures have been rounded down to the nearest million yen.

1. Consolidated Financial Results for the Fiscal Year Ended March 2024 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating results(% indicates year-on-year change)
Net sales

Operating income¥ million% ¥ million

762,302755,821

Apr. 1, 2023 – Mar. 31, 2024
Apr. 1, 2022 – Mar. 31, 2023

0.9
9.3

% ¥ million

32,57935,087

Net income attributableto owners of parent

Ordinary income(7.1)(19.5)% ¥ million

29,22232,411(9.8)(20.6)%

23,22023,0080.9(13.1)

Note: Comprehensive income: ¥51,300 million [28.0%] in the fiscal year ended March 31, 2024
¥40,064 million [5.8%] in the fiscal year ended March 31, 2023
Basic net income

Diluted net

per share

income per share¥¥

Ordinary
income to total
assets ratio
%
3.5
4.3

Return on equity%

5.3
357.90356.875.7
349.59348.66
Reference: Equity in earnings (losses) of affiliates: ¥177 million in the fiscal year ended March 31, 2024
¥137 million in the fiscal year ended March 31, 2023
Apr. 1, 2023 – Mar. 31, 2024
Apr. 1, 2022 – Mar. 31, 2023

Operatingincome to sales
ratio
%
4.3
4.6

(2) Consolidated financial position
Total assets

Net assets¥ million

Net assets
per share

Equity ratio¥ million%¥

870,205
474,38352.1
782,640
436,42253.3
Reference: Equity (Shareholders’ equity + Accumulated other comprehensive income):¥453,463 million as of March 31, 2024
¥417,372 million as of March 31, 2023
As of March 31, 2024
As of March 31, 2023

7,068.91
6,431.63(3) Consolidated cash flows
Cash flows fromoperating activities
Apr. 1, 2023 – Mar. 31, 2024
Apr. 1, 2022 – Mar. 31, 2023

¥ million
61,911
28,710Cash flows frominvesting activities¥ million(58,771)(41,970)

Cash flows fromfinancing activities¥ million

Cash and cash
equivalents
as of the fiscal year-end¥ million(1,519)12,352

43,27840,6992. Dividends
Annual dividends
1st Quarter 2nd Quarter 3rd Quarter Year-end
Annual¥¥¥¥¥Apr. 1, 2022 – Mar. 31, 2023
─
55.00
─
55.00
110.00
Apr. 1, 2023 – Mar. 31, 2024
Apr. 1, 2024 – Mar. 31, 2025
(Forecasts)

─

55.00

─

55.00

110.00

─

60.00

─

60.00

120.00Total cash
dividends(Annual)¥ million
7,254
7,098

Net asset
payout ratio(Consolidated)
%
%
31.5
1.8

Payout ratio(Consolidated)

30.7

1.6

30.9

3. Forecast for Consolidated Financial Results for the Fiscal Year Ending March 31, 2025
(from April 1, 2024 to March 31, 2025)

OperatingincomeNet sales¥ million

Full year

790,000% ¥ million

3.6

38,000Ordinary income% ¥ million

16.6

34,000Net income
attributable toowners of parent% ¥ million

16.3

24,500

Basic Net
incomeper share%¥

5.5

388.18

※ Notes(1) Changes in principal subsidiaries during the fiscal year: None
(2) Changes in accounting principles, changes in estimates, or restatements
1. Changes owing to revisions in accounting standards: None
2. Changes other than 1. above: None
3. Changes in accounting estimates: None
4. Restatements: None
(3) Number of shares issued (common stock)
1. Number of shares issued at the fiscal year-end(including treasury stock):
2. Number of shares of treasury stock at the fiscal
year-end:
3. Average number of shares outstanding during the period(calculated cumulatively from the beginning of the fiscal year)

66,000,000

March 31, 2024

March 31, 2023

68,000,000

March 31, 2023

3,106,293

shares

1,851,007

March 31, 2024

sharesshares64,879,390

March 31, 2024

sharesMarch 31, 2023

65,815,697

sharessharesReference: Overview of Non-Consolidated Financial Results
1. For the Fiscal Year Ended March 2024 (from April 1, 2023 to March 31, 2024)(1) Non-consolidated operating results(% indicates year-on-year change)
Net sales

Operating income¥ million
Apr. 2023 – Mar. 2024
Apr. 2022 – Mar. 2023%

366,950
369,172¥ million

(0.6)
10.3

7,201
12,893

Basic net income
per share
Apr. 2023 – Mar. 2024
Apr. 2022 – Mar. 2023¥

273.90312.03

Ordinary income%(44.1)(8.0)¥ million

16,041
21,765

Net income%¥ million(26.3)(32.8)

17,77020,536%(13.5)(27.6)

Diluted net income
per share¥

273.11
311.20(2) Non-consolidated financial position
Total assets¥ million
As of March 31, 2024
As of March 31, 2023

Net assets¥ million

593,312545,286

Net assets
per share

Equity ratio

303,364
285,398

51.0
52.2

% ¥

4,718.95
4,388.34

Reference: Equity (Shareholders’ equity + Valuation and translation adjustments):¥302,715 million as of March 31, 2024
¥284,775 million as of March 31, 2023
※These financial statements are exempt from audit procedures to be performed by certified public accountants or an
audit firm.
※Explanations or other items pertaining to appropriate use of business performance forecasts.
The business performance forecasts and certain other statements contained in this document are forward-looking
statements, which are based on information currently available to the Company and certain assumptions determined
to be reasonable by the Company. For a variety of reasons, actual performance may differ substantially from these
forecasts. They do not constitute a guarantee that the Company will achieve these forecasts or other forward-looking
statements. For cautionary items used in business performance forecasts, please refer to the section entitled “(4)Earnings Forecasts and Other Forward-looking Statements” under “1. Overview of Consolidated Financial Results”
on page 7.

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

Supplementary Materials
Contents
1. Overview of Consolidated Financial Results ------------------------------------------------------ P. 2
(1) Operating Results ----------------------------------------------------------------------------------- P. 2
(2) Financial Position ------------------------------------------------------------------------------------ P. 6
(3) Cash Flows ------------------------------------------------------------------------------------------- P. 6
(4) Earnings Forecasts and Other Forward-looking Statements ----------------------------- P. 6
2. Basic Rationale for Selection of Accounting Standards ---------------------------------------- P. 9
3. Consolidated Financial Statements and Main Notes ------------------------------------------- P.10
(1) Consolidated Balance Sheets -------------------------------------------------------------------- P.10
(2) Consolidated Statements of Income and Comprehensive Income ---------------------- P.12
(3) Consolidated Statements of Changes in Shareholders’ Equity -------------------------- P.14
(4) Consolidated Statements of Cash Flows ------------------------------------------------------ P.16
(5) Notes to the Consolidated Financial Statements -------------------------------------------- P.18
(Going Concern Assumption) --------------------------------------------------------------------- P.18
(Segment Information) ----------------------------------------------------------------------------- P.18
(Per Share Information) ---------------------------------------------------------------------------- P.23
(Subsequent Events) ------------------------------------------------------------------------------- P.23

- 1 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

1. Overview of Consolidated Financial Results
Operating Results(1)State of the Global Economy - Fragmentation and economic volatility -➢In the current fiscal year (April 1, 2023 to March 31, 2024), although the COVID-19 pandemic ended during
the period, the global economic outlook remained uncertain due to ongoing geopolitical risks such as theprolonged Ukraine crisis and the outbreak of new conflicts in the Middle East. Amid monetary policy turmoil
in the U.S. and Europe, which have been plagued by inflation, friction between the U.S. and China, andeconomic downturn in China, the global economy has had a volatile year lacking a clear direction.
As for Japan, the yen continues to depreciate. Economic and monetary policies have stalled and GDP has
fallen to fourth place in the world, with a possibility of slipping to fifth place. These critical issues affecting
national development show no signs of ending.
The world is fragmented by country and region, and synchronized economies and growth scenarios are
not foreseeable.
As we face such uncertain times, tossed about by “fragmentation and volatility”, we will refine our global
activities with local roots, which is our company’s DNA, and accelerate the implementation of new products
and businesses with our research & development strategy of “one and only Kaneka R2B”.
We are refining our technology, updating our portfolio, and expanding our business.
Above all, it's all about people.
➢

Kaneka Group’s Business Performance - Sales increased and profits decreased, but profits increased
significantly in the second half -Under these circumstances, Kaneka Group’s consolidated business performance for the fiscal year ended
March 31, 2024 was as follows.
Consolidated net sales were ¥762,302 million (up 0.9% year-on-year),
Operating income was ¥32,579 million (down 7.1% year-on-year),Ordinary income was ¥29,222 million (down 9.8% year-on-year), andNet income attributable to owners of parent was ¥23,220 million (up 0.9% year-on-year).
Business performance for the fiscal year ended Mach 31, 2024 (April 1, 2023 to March 31, 2024)

FY2022

FY2023

Net sales

755,821762,302

Operating income

35,08732,579Ordinary income

32,411

29,222

Net income attributable toowners of parent

23,00823,220-2-(Millions of yen)

Difference(year-on-year)
6,480
0.9%
(2,508)(7.1%)(3,188)(9.8%)
212
0.9%

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

Net sales and operating income by business segments(Millions of yen)
Net sales

FY2022

FY2023Difference(year-on-year)

1Q

2Q

3Q

4Q

Total

1Q

2Q

3Q

4Q

Total

Material SU

88,91983,97577,812

83,147

333,854

77,65978,81481,44484,982322,902

Quality of Life SU

45,00042,194

43,812

41,758

172,766

40,87843,88046,63844,785

176,182

Health Care SU

16,62317,36918,65818,13470,786

17,74518,44817,20921,45274,856

Nutrition SU

41,87944,09146,01845,350177,339

46,03746,00649,03846,099187,182

316

231

240

286

1,074

419

226

280

252

1,178

192,739

187,863

186,541

188,678755,821

182,740

187,376

194,611

197,574

762,302

OthersTotal(10,952)(3.3%)
3,415
2.0%
4,069
5.7%
9,843
5.6%
103
9.7%
6,480
0.9%

Operating income

FY2022

FY2023Difference(year-on-year)

1Q

2Q

3Q

4Q

Total

1Q

2Q

3Q

4Q

Total

10,756

7,947

3,767

4,978

27,449

5,513

6,610

6,996

8,375

27,495

Quality of Life SU

4,600

4,069

4,386

3,075

16,131

2,939

4,159

4,655

3,607

15,361

Health Care SU

3,856

3,653

4,471

3,701

15,682

2,967

2,926

2,451

4,596

12,941

806

1,296

2,290

3,192

7,585

2,277

2,298

3,820

3,680

12,076

Material SU

Nutrition SU

186

95

112

159

554

288

101

151

125

667

Adjustment(7,994)(8,460)(8,221)(7,640)(32,316)(8,381)(9,093)(9,070)(9,417)(35,963)

Total

12,212

8,601

6,808

7,465

35,087

5,603

7,002

9,004

10,96832,579Others

45
0.2%
(769)
(4.8%)(2,740)(17.5%)
4,490
59.2%
113
20.4%
(3,646)(2,508)(7.1%)※SU：Solutions Unit➢①

Remarks on the Group-wide Business Performance
Rapid recovery of business performance
In the current fiscal year ended March 31, 2024, Group-wide business performance was characterized byoperating income that bottomed out at ¥5.6 billion in 1Q (April 1 to June 30, 2023), and the pace of recovery
accelerated in each successive quarter, to ¥7.0 billion in 2Q (July 1 to September 30, 2023), ¥9.0 billion in 3Q(October 1 to December 31, 2023), and ¥11.0 billion in 4Q (January 1 to March 31, 2024).
Although substantial negative forces remain, such as the inflation-driven downturn in construction demand inEurope and the U.S. and inventory adjustments in the electronics market, business performance abruptly turned
towards profit recovery in the second half. Despite a sluggish first half primarily due to extremely volatile postCOVID-19 fluctuations in demand, strong momentum returned to each Solutions Vehicle in the second half.
In particular, operating income in 4Q reached ¥11.0 billion thanks to contributions from overseas business
Solutions Vehicles such as Modifiers, Modified Silicone polymers, and E & I Technology, which are targeting
results in R2B, and Supplemental Nutrition and Foods (Nutrition Solutions Unit), which are shifting towards adevelopment strategy utilizing unique and niche technologies not found anywhere else. Business performancein Medical grew steadily, and Vinyls and Chlor-Alkali and Foam & Residential Techs have also gotten out of theworst period.

FY2023 operating income: 1H vs. 2H comparison(Billions of yen)

2H operating income: YoY comparison

Operating income
FY2022

1H

Operating income

FY2023

2H(Billions of yen)

1H

2H

Difference

FY2022

FY20232H

2H

Difference

Material SU

18.7

8.7

12.1

15.4

3.2

Material SU

8.7

15.4

6.6

Quality of Life SU

8.7

7.5

7.1

8.3

1.2

Quality of Life SU

7.5

8.3

0.8

Health Care SU

7.5

8.2

5.9

7.0

1.2

Health Care SU

8.2

7.0

(1.1)

Nutrition SU

2.1

5.5

4.6

7.5

2.9

Nutrition SU

5.5

7.5

2.0

20.8

14.3

12.6

20.0

7.4

14.3

20.0

5.7

Total

(1H: April 1 to September 30, 2H: October 1 to March 31)

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Total

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)②

Leading-Edge Businesses Driving Kaneka’s Portfolio Transformation
For Medical, Supplemental Nutrition, Modified Silicone polymers, E & I Technology, and PV & Energy
management, our differentiated and unique technologies and open innovation bore fruit, resulting in steady
growth in performance.
For Medical, business performance grew steadily. Since technological sophistication is the driving force
behind the development of this business, we are actively engaged in open innovation, including M&A andtechnological alliances, leveraging our Japanese business model that is highly trusted by physicians. With
overseas markets such as the U.S., China, and Asia as our next strategic move, we are focusing all ourefforts on strengthening our R2B capabilities and restructuring our sales system. We aim to develop the
Medical business into a driver of company growth.
For Pharma, demand adjustment continued and performance remained sluggish, but 4Q saw a significant shift
toward recovery. In Bio-CDMO and small molecule pharmaceuticals, joint development activities with customers
have progressed and momentum has returned. Looking ahead to the next fiscal year, we are aggressively
pursuing further large projects in both domestic and overseas markets.

③

Strong Performance of Foundation Businesses
Modifiers, which experienced a significant drop of demand in the European, U.S., and Asian markets due topost-COVID-19 volatility, has gotten out of a period of excess market inventory and global supply-demand
imbalance. Comparisons between the first and second half of the current fiscal year and comparisons between
the current and the previous fiscal year’s second half both show significant profit growth.
Like Modifiers, Vinyls and Chlor-Alkali and Foam & Residential Techs, which are focused on activities to createa scalable global niche market by strengthening technology differentiation capabilities, have also emerged fromthe worst period. After suffering from a collapse of supply and demand in the general-purpose market anddeteriorated market conditions, Vinyls and Chlor-Alkali has maintained stable performance, although it has not
returned to the profitability of the COVID-19 period when the supply-demand balance was tight.
Performance Fibers aimed for recovery after bottoming out in 1Q, but due to prolonged inflation and currency
depreciation in African countries, 4Q was a temporary demand adjustment phase. We are diligently pursuing
R2B activities that will enable us to offer unique and distinctive fibers that are only possible with Kanekalon byenhancing its functionality. In the hair accessories field, we are expanding our domain and strengthening salesin Sub-Saharan Africa and North, Central, and South America, with Nigeria as our focal point.
For Foods & Agris, profitability improved significantly due to further progress in the sales shift to high-valueadded products and expansion of profit margin. We plan to maintain this high level of performance. New
businesses such as Pur Natur dairy products, coenzyme Q10 yogurt and gummies, organic A2 milk, and
BENOIT NIHANT Belgian chocolate are running strong and leading the portfolio transformation in the Foods
business.

④

Progress of Investment Plan for Growth
For Medical, a new production facility for blood purification devices in Tomatoh, Hokkaido, is scheduled tostart operation in 2Q of the fiscal year ending March 31, 2025. Furthermore, we expanded our lineup ofcatheter products with open innovation, such as by acquiring a company with biodegradable magnesium
stent technology and by importing and selling stents used to retrieve blood clots.
For Pharma, construction is proceeding as planned for Kaneka Eurogentec S.A.’s production facility for
mRNA, which is expected to grow at a high rate for adoption in therapeutics for genetic diseases andcancer.

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Financial Results for the Fiscal Year, Ended March 31, 2024, Kaneka Corporation (4118)

In the Material Solutions Unit, construction of the demonstration plant for the mass production of KANEKA
Biodegradable Polymer Green Planet™ that aims to protect the global environment by reducing singleuse plastics, is progressing smoothly. In addition, the capacity expansion of Modified Silicone polymers in
Belgium, where global demand is expected to increase, will be completed as planned this spring.
We have decided to make a major capital investment to decommission the coal boilers at Takasago. We
will take this opportunity of fuel conversion at our in-house power generation facilities, which employ an
innovative process, to further conserve energy and aim to go carbon neutral by 2050.
We will aggressively pursue investments that will accelerate the growth of our leading-edge businesses
and strengthen the base of our foundation businesses.
The operating performance by business segment was as follows:① Material Solutions Unit
This unit was affected by economic slowdown in Europe, the U.S., and Asia, resulting in lower profits in thefirst half, but profits increased significantly in the second half due to supply and demand recovery. On afull-year basis, the unit recovered to the previous year’s level.
➢ For Vinyls and Chlor-Alkali, both PVC and caustic soda were affected by the decline in the Asian market,
but performance has been recovering since 3Q.
➢ For Modifiers, demand-supply adjustments continued throughout the year, but demand has been
recovering at all locations since 3Q, resulting in a significant year-on-year increase in profits in the second
half. Profitability improved as efforts to strengthen business competitiveness made steady progress.
➢ For Modified Silicone polymers, sales remained strong in response to its unique functional characteristics.
We aim to expand our business by fully leveraging our increased production capacity in Belgium to becompleted this spring.
➢ For Green Planet, progress has been made in joint development with major brand holders and its adoption
in new applications increased.
② Quality of Life Solutions Unit
This unit achieved higher sales and higher profits in Foam & Residential Techs, E & I Technology, and PV& Energy management, but reported higher sales and lower profits overall due to ongoing demandsupply adjustments in Performance Fibers.
➢ For Foam & Residential Techs, profit margin improved, resulting in higher sales and higher profits overall.
Sales of polyolefin foam recovered in the automobile sector and its adoption in EV applications has
expanded.
➢ For PV & Energy management, domestic sales of high-efficiency photovoltaic modules for single homes
were firm. The government’s promotion of GX and the growing trend of municipal mandates regarding theuse of renewable energy drew further attention to our products. To stimulate demand for zero-energy
building (ZEB), in which walls and windows generate electricity, we established the joint sales company
with Taisei Corporation.
➢ For E & I Technology, polyimide shipments were affected by the adjustment of smartphone production in
the first half of the year, but demand has recovered since 3Q, especially in the Chinese market. Acrylic
resins for large-screen TVs experienced a temporary demand adjustment, but have recovered since 4Q.
➢ For Performance Fibers, demand was sluggish due to the significant impact of inflation and currency
depreciation in African countries. We will focus on stimulating end-user demand by strengthening
marketing strategies and proactively introducing new high-performance products.
③ Health Care Solutions Unit
In this unit, the Medical business expanded steadily, while the Pharma business was affected by shipment
adjustments through 3Q. Overall, sales increased and profits decreased.
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Financial Results for the Fiscal Year, Ended March 31, 2024, Kaneka Corporation (4118)➢➢

For Medical, the new production facility for blood purification devices in Hokkaido is scheduled to start
operation. We will continue to actively invest management resources.
Pharma experienced longer-than-expected demand adjustments from small molecule pharmaceutical andbiopharmaceutical customers, but demand has been on a recovery trend since 4Q. For mRNA, we will
strengthen the production system and focus on its adoption in therapeutics for genetic diseases and cancer.

④ Nutrition Solutions Unit
This unit recorded substantial increases in both sales and profits owing to the continued strong performanceof Foods and Supplemental Nutrition.
➢ For Supplemental Nutrition, the sales of the active form of coenzyme Q10 remained firm in the U.S. Sales
expanded in Asia and Oceania. For the probiotics business, sales are also expanding. Sales expansion in
the U.S., the biggest market, is a challenge, and we will focus on launching a variety of new products andreinforcing our production base.
➢ For Foods & Agris, profit margin improved and earnings grew substantially. We aim to expand business byaggressively promoting high value-added “Business to Consumer” businesses including organic dairy
products and yogurt.
(2) Financial Position
At the end of the current fiscal year, total assets were ¥870,205 million, up ¥87,565 million from theprevious fiscal year-end. This is due to an increase in property, plant and equipment resulting fromexpanded capital investment, an increase in investment securities due to an increase in the fair value ofshares held, and an increase in overseas group companies’ assets denominated in yen resulting from theweakening of yen.
Liabilities totaled ¥395,822 million, up ¥49,604 million, primarily reflecting an increase in loans payable
and issuance of bonds payable.
Net assets were ¥474,383 million, up ¥37,960 million, owing chiefly to an increase in retained earnings,
an increase in foreign currency translation adjustments resulting from the weakening of yen, and anincrease in valuation difference on available-for-sale securities due to an increase in the fair value ofshares held. Equity ratio was 52.1%.
(3) Cash Flows
In the current fiscal year ended March 31, 2024, net cash provided by operating activities was ¥61,911
million, mainly due to the recording of income before income taxes and depreciation and amortization. Net
cash used in investing activities amounted to ¥58,771 million, mainly due to purchase of property, plantand equipment. Net cash used in financing activities was ¥1,519 million due to dividends paid andpurchase of treasury stock which offset proceeds from issuance of bonds. As a result, cash and cash
equivalents as of March 31, 2024 totaled ¥43,278 million.
(4) Earnings Forecasts and Other Forward-looking Statements➢

Kaneka’s Purpose Management
The natural environment is being increasingly overburdened and human activities may cause dangerous
climate change and mass extinction. To reduce this risk, we must further our understanding of nature andrapidly deploy the appropriate technologies. This perspective is our purpose management, “KANEKA The
Dreamology Company －Make your dreams come true－,”. We are refining our technology in threedomains: the environmental and energy crisis, the food crisis, and the wellness (better living) crisis withan aspiration to provide optimal solutions through their social implementation.
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Financial Results for the Fiscal Year, Ended March 31, 2024, Kaneka Corporation (4118)➢

Hybrid Management
Innovation is “a combination that does things in a different way.” Combining different things in different
business fields in a new way. We call this “hybrid management.” We will continue to solving social
problems through hybrid management, which creates creative and valuable solutions through surprisingcombinations of Kaneka’s wide variety of different technologies.

➢

R2B＋P - Accelerating the Flow from Research to Business
Shifting from “R&B+P” to “R2B+P,” we will promote the fusion of research and business and further
accelerate the flow from research to business. We will create unique and superior materials and provide
solutions to the global market. By strengthening our R2B+P initiative, which strongly integrates R2B andmanufacturing, we will focus on maximizing and monetizing our business with a manufacturing-first
approach and increase the speed and scale of our commercialization of new products.

➢

Shift in Emphasis to Life Sciences
The definition of “life science” is the technologies and creative activities that use chemistry to make life on
Earth healthier. Kaneka’s “biomanufacturing,” such as the biodegradable polymer Green Planet™,
genome editing technology, biopharmaceuticals, regenerative medicine and cell therapy, organic dairy
products business, supplements, and fermentation culture process technology, PV technology, andmedical devices are all connected to the big “life,” that is, life on Earth. Kaneka will drive the transformationof its portfolio by taking on the challenge of “R2B” in the life science area.

➢ Think Global, Act Local
Our strength is our global network enabling business development deeply rooted in local communities.
Our mission is to deliver solutions all over the world to save human lives and resolve social issues, andwe focus on conducting local-based business (glocal business) by overcoming cultural differences. Our
goal is to become a company with a global presence. We will seek management resources fromaround the world and actively promote M&A, technology and business alliances, and open innovation totransform our global business structure and achieve rapid growth.
➢ Diversity - New Value Creation and Women’s Participation
By going beyond attributes such as age, gender, nationality, and race, and tapping into diversity, we bring
forth new ideas. In this way, we aim to continue delivering unique Kaneka value that amazes the world.
This is our vision for diversity. In particular, we are working to promote the active participation of womenand strengthen the development of female leaders who will drive growth and change. Kaneka 1-on-1,
which was introduced and established based on the idea that “people grow through their work, while
companies grow through their people,” will evolve into a new stage, “Kaneka 1-on-1X,” to enhance
individual growth and organizational performance.
We will continue to promote “Trust & Respect - Human Driven Management” this year as well.
➢ Carbon Neutral/DX Initiatives
We aim to reduce GHG emissions by 30% by 2030. Our goal is to achieve carbon neutral by 2050. We
will work to reduce energy consumption through fuel conversion of in-house power generation facilities
and process innovation. We will also strengthen our DX initiatives and greatly accelerate value creation
through R2B+P. We will incorporate cutting-edge technology to evolve our production plants and build up
manufacturing sites in the future. We are also working on a company-wide digital platform concept using-7-

Financial Results for the Fiscal Year, Ended March 31, 2024, Kaneka Corporation (4118)

the latest digital technology to promote operational innovation in research and development, sales, SCM,
and back-office operations.
➢

Performance Forecasts for the Fiscal Year Ending March 31, 2025
The IMF projected global economic growth of 3.2% for 2023, and it forecasts growth to continue at thesame pace in 2024 and 2025. Although global inflation is expected to ease, the path to global economic
growth is still uncertain.
Like this, although the global economy is anticipated to continue experiencing volatility and uncertainty inthe business environment, we will focus on the social implementation of new businesses by strategicallyinvesting in management resources for Life Science businesses and leading-edge businesses that are
expected to grow significantly while demonstrating our global adaptability.
In the fiscal year ending March 31, 2025, Medical and Pharma (Health Care Solutions Unit) and Foods
and Supplemental Nutrition (Nutrition Solutions Unit) will drive the entire company growth by capturing theneeds of the times as people become more health-conscious. In our leading-edge businesses including E& I Technology, it will be a year of accelerating R2B results. Modifiers and Modified Silicone polymers will
begin to reap new results. Our foundation businesses such as Vinyl and Chlor-Alkali, Foam & Residential
Techs, and Performance Fibers are expected to support company-wide performance with solid footing andgenerate stable earnings.
Business performance for the fiscal year ending March 31, 2025 (April 1, 2024 to March 31, 2025)
FY2023ResultFY2024
Forecast

Net sales (Millions of yen)762,302790,000

Operating income (Millions of yen)

32,57938,000Ordinary income (Millions of yen)

29,222

34,000Net income attributable to owners of parent(Millions of yen)

23,22024,500Net income per share (yen)357.90388.18Net sales and operating income by segment for the fiscal year ending March 31, 2025
Net sales
FY2024
Forecast

FY2023Result27,697
3.6%
5,420
16.6%
4,777
16.3%
1,279
5.5%
30.28

(Millions of yen)

Operating income
FY2024
Difference
Forecast
504
27,49528,0001.8%
2,138
15,361
17,50013.9%
3,058
12,941
16,00023.6%
923
12,076
13,000
7.6%
(167)
667
500
(25.1%)(1,036)(35,963)(37,000)(-)
5,420
32,57938,00016.6%

FY2023ResultDifference
2,097
0.6%
10,817
6.1%
14,143
18.9%
817
0.4%
(178)
(15.1%)

Material SU

322,902

325,000

Quality of Life SU

176,182

187,000

Health Care SU

74,85689,000

Nutrition SU

187,182

188,000

1,178

1,000

Adjustment

-

-

-

Total

762,302790,000

27,697
3.6%

OthersDifference※SU：Solutions Unit

With regard to the exchange rates and raw material prices, forecast figures assume the exchange rates of¥140 to the US dollar and ¥155 to the euro, and a domestic naphtha price of ¥65,000 per kiloliter from April
1, 2024 onward.
※The above forecasts for the Kaneka Group are regarded as reasonable based on information available atthe time of the announcement. Readers should be aware that actual results may vary from these forecasts
due to various factors.
-8-

Financial Results for the Fiscal Year, Ended March 31, 2024, Kaneka Corporation (4118)

2. Basic Rationale for Selection of Accounting Standards
The Kaneka Group had adopted Japanese Generally Accepted Accounting Principles (Japanese GAAP).
The timing of the adoption of International Financial Reporting Standards (IFRS) has not yet been determinedat this time. However, we will keep collecting information.

-9-

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

3. Consolidated Financial Statements and Main Notes(1) Consolidated Balance Sheets(Millions of yen)

FY2022

FY2023

As ofMarch 31, 2023

As ofMarch 31, 2024

AssetsCurrent assets
Cash and deposits

41,77443,969Notes and accounts receivable-trade, and contract assets

170,154

186,371

Short-term investment securities

94

Merchandise and finished goods

89,223

94,734Work in process

13,317

11,678Raw materials and supplies

65,57470,883

Other

18,327

23,122

Allowance for doubtful accounts(1,502)(1,898)396,964

428,861

Buildings and structures, net

96,39998,883

Machinery, equipment and vehicles, net

107,829

107,975

Land

33,07934,475

Leased assets, net

15,412

17,681

Construction in progress

32,062

63,707

Other, net

7,831

8,596

292,615331,319

Goodwill

2,201

1,859

Other

13,987

18,973

Total intangible assets

16,18920,832

Investment securities

57,42270,150Investments in capital

970

520

Long-term loans receivable

597

529

Long-term prepaid expenses

2,489

2,776

Deferred tax assets

4,450

2,766

Other

11,223

12,738

Allowance for doubtful accounts

(283)

(290)

Total investments and other assets

76,87089,191

385,675

441,344782,640

870,205

Total current assets-

Noncurrent assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets

Investments and other assets

Total noncurrent assets
Total assets- 10 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(Millions of yen)

FY2022

FY2023

As ofMarch 31, 2023

As ofMarch 31, 2024

Liabilities
Current liabilities
Notes and accounts payable-trade

88,663

104,212

Short-term loans payable

116,491

116,532

Current portion of bonds payable

-

5,000

Lease liabilities

1,037

940

Accounts payable-other

25,86235,227

Accrued expenses

14,70815,887

Income taxes payable

5,055

4,963

Accrued consumption taxes

640

1,307

Provision for directors' bonuses

119

123

5,663

7,469

258,242

291,666

Bonds payable

10,00015,000Long-term loans payable

33,70640,391

Lease liabilities

14,70917,232

Deferred tax liabilities

1,705

9,493

Net defined benefit liability

20,82912,585318

346

Provision for product warranties

2,057

1,808

Other

4,648

7,296

Total noncurrent liabilities

87,974104,156

346,217395,822

Capital stock

33,04633,046

Capital surplus

32,24529,173Retained earnings

323,213331,933

Treasury stock(11,407)(6,797)

Total shareholders' equity

377,098

387,355

22,204

32,632(3)(0)

Foreign currency translation adjustment

11,54322,037

Remeasurements of defined benefit plans

6,529

11,438

Total accumulated other comprehensive income

40,273

66,107622

648

Non-controlling interests

18,427

20,271

Total net assets

436,422474,383

782,640

870,205

Other
Total current liabilities
Noncurrent liabilities

Provision for directors' retirement benefits

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Subscription rights to shares

Total liabilities and net assets- 11 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)

FY2022

FY2023

From April 1, 2022
to March 31, 2023

From April 1, 2023
to March 31, 2024

Net sales

755,821762,302

Cost of sales

556,895

558,087

Gross profit

198,926

204,214Selling, general and administrative expenses

163,838

171,635

Operating income

35,08732,579Interest income

222

224

Dividends income

1,694

1,806

Foreign exchange gains

1,888

2,544

137

177

Other

1,008

958

Total non-operating income

4,951

5,713

Interest expenses

1,965

3,361

Loss on retirement of noncurrent assets

1,839

1,722

Depreciation of inactive noncurrent assets

1,147

1,171

Other

2,675

2,814

Total non-operating expenses

7,627

9,069

32,411

29,222

1,410

7,060

Non-operating income

Equity in earnings of affiliates

Non-operating expenses

Ordinary income
Extraordinary income
Gain on sales of investment securities
Gain on sale of businesses-

Total extraordinary income

1,410

525
7,586

Extraordinary losses
Loss on valuation of investment securities

1,448

-

Total extraordinary losses

1,448

-

Income before income taxes

32,37336,808

Income taxes-current

9,010

10,575

Income taxes-deferred

(711)

1,458

Total income taxes

8,298

12,033

Net income

24,074

24,775

Net income attributable to non-controlling interests

1,066

1,554

Net income attributable to owners of parent

23,00823,220- 12 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

Consolidated Statements of Comprehensive Income(Millions of yen)

Net income

FY2022

FY2023

From April 1, 2022
to March 31, 2023

From April 1, 2023
to March 31, 2024

24,074

24,775882

10,47603Foreign currency translation adjustment

7,594

11,133Remeasurements of defined benefit plans, net of tax

7,509

4,909

1

1

15,98926,52540,06451,300Comprehensive income attributable to owners of parent

38,54949,054Comprehensive income attributable to non-controlling interests

1,515

2,246

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

Share of other comprehensive income of associates accounted for using equity
methodTotal other comprehensive income
Comprehensive income
Comprehensive income attributable to- 13 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(3) Consolidated Statements of Changes in Shareholders' Equity
Previous fiscal year (From April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders' equity
Capitalstock
Balance at beginning of the period

Capitalsurplus33,046

Retainedearnings

31,392

Treasurystock

309,507(11,528)

Total
shareholders'equity362,417

Changes of items during period
Dividends of surplus(7,599)(7,599)Net income attributable to owners ofparent23,00823,008Purchase of treasury stock
Disposal of treasury stock
Changes by share exchanges

789

Change in ownership interest of parent
due to transactions with non-controllinginterests

63(8,051)(8,051)

(5)

30

25

(1,696)

8,142

7,235
63

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of the period-853

13,706

121

14,681

33,04632,245323,213(11,407)377,098

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning of the period

21,331(4)Foreigncurrencytranslation
adjustment
4,381

Total
Remeasureme accumulated
nts of definedotherbenefit plans comprehensive
income(975)

24,732

Subscription
rights toshares619

Noncontrollinginterests

24,435

Total net
assets412,204

Changes of items during period
Dividends of surplus(7,599)Net income attributable to owners ofparent23,008Purchase of treasury stock(8,051)

Disposal of treasury stock

25

Changes by share exchanges

7,235

Change in ownership interest of parent
due to transactions with non-controllinginterests

63

Net changes of items other thanshareholders' equity

873

0

7,162

7,504

15,541

3(6,007)

9,537

Total changes of items during period

873

0

7,162

7,504

15,541

3(6,007)

24,21822,204(3)

11,543

6,529

40,273622

18,427436,422

Balance at end of the period- 14 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

Current fiscal year (From April 1, 2023 to March 31, 2024)(Millions of yen)
Shareholders' equity
Capitalstock
Balance at beginning of the period

Capitalsurplus33,046

Retainedearnings

32,245

Treasurystock

323,213(11,407)

Total
shareholders'equity377,098

Changes of items during period
Dividends of surplus
Change in scope of consolidation
Net income attributable to owners ofparent(7,139)(7,139)

(12)

(12)

23,22023,220Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock(2,814)(2,814)

(3)

78

75

(7,344)

7,344-

Change in ownership interest of parent
due to transactions with non-controllinginterests

(269)

(269)

Changes in liabilities for written put
options over non-controlling interests(2,802)(2,802)

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of the period-(3,072)

8,719

4,609

10,25733,04629,173331,933(6,797)387,355

Accumulated other comprehensive income
Valuation
Deferred gains
difference onor losses onavailable-forhedges
sale securities
Balance at beginning of the period

22,204(3)

Foreigncurrencytranslation
adjustment
11,543Total
Remeasureme accumulated
nts of definedotherbenefit plans comprehensive
income6,529

40,273

Subscription
rights toshares622

Noncontrollinginterests

18,427

Total net
assets436,422

Changes of items during period
Dividends of surplus(7,139)Change in scope of consolidation(12)

Net income attributable to owners ofparent23,220Purchase of treasury stock(2,814)

Disposal of treasury stock

75

Cancellation of treasury stock-

Change in ownership interest of parent
due to transactions with non-controllinginterests(269)

Changes in liabilities for written put
options over non-controlling interests(2,802)

Net changes of items other thanshareholders' equity

10,427

3

10,493

4,908

25,83326

1,843

27,703

Total changes of items during period

10,427

3

10,493

4,908

25,83326

1,843

37,960

Balance at end of the period

32,632(0)

22,037

11,438

66,107648

20,271

474,383- 15 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(4) Consolidated Statements of Cash Flows(Millions of yen)

FY2022

FY2023

From April 1, 2022
to March 31, 2023

From April 1, 2023
to March 31, 2024

Net cash provided by (used in) operating activities
Income before income taxes

32,37336,808Depreciation and amortization

39,456

40,779

Increase (decrease) in net defined benefit liability(139)(1,527)

Increase (decrease) in allowance for doubtful accounts

(110)

315

Interest and dividends income(1,917)(2,031)

Interest expenses

1,965

3,361

Equity in losses (earnings) of affiliates

(137)

(177)

Loss (gain) on disposal of noncurrent assets

630

531

Loss (gain) on sales of investment securities(1,410)(7,060)Loss (gain) on valuation of investment securities

1,448

-

Decrease (increase) in notes and accounts receivable-trade(3,474)(12,450)

Decrease (increase) in inventories(24,875)(4,070)

Increase (decrease) in notes and accounts payable-trade(4,785)

13,112Other, net(4,620)6,344

Subtotal

34,40273,935Interest and dividends income received

1,942

2,057

Interest expenses paid

(1,955)(3,308)Proceeds from insurance income

1,177

-

Income taxes paid

(6,856)(10,771)

Net cash provided by (used in) operating activities

28,71061,911(39,628)(61,315)87-(2,363)(3,951)

Purchase of investment securities

(909)

(120)

Proceeds from sales and distributions of investment securities

2,509

9,856

Net cash provided by (used in) investing activities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets

Purchase of shares of subsidiaries resulting in change in scope of consolidation-(1,132)

Payments of loans receivable(99)(1,061)

Collection of loans receivable

336

282

Other, net(1,902)(1,328)Net cash provided by (used in) investing activities(41,970)(58,771)- 16 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(Millions of yen)

FY2022

FY2023

From April 1, 2022
to March 31, 2023

From April 1, 2023
to March 31, 2024

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable

21,814(2,378)Proceeds from long-term loans payable

13,541

11,299

Repayment of long-term loans payable(6,198)(8,565)

Proceeds from issuance of bonds-

10,000

Repayments of lease obligations(863)(1,270)(8,051)(2,814)0

0(7,599)(7,139)

0

-

(284)

(279)

(6)

(372)

12,352(1,519)Effect of exchange rate change on cash and cash equivalents

894

926

Net increase (decrease) in cash and cash equivalents

(13)

2,547

40,712

40,699Purchase of treasury stock
Proceeds from sales of treasury stock
Cash dividends paid
Proceeds from stock issuance to non-controlling shareholders
Dividends paid to non-controlling interests
Purchase of shares of subsidiaries not resulting in change in scope of consolidation
Net cash provided by (used in) financing activities

Cash and cash equivalents at beginning of period
Increase (decrease) in cash and cash equivalents resulting from change in scope of
consolidation
Cash and cash equivalents at end of period

40,699- 17 -

32
43,278Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(5) Notes to the Consolidated Financial Statements(Going Concern Assumption)
Not applicable(Segment Information)
1) Overview of Reportable Segments
Kaneka’s reportable segment is a component of an entity for which discrete financial information isavailable and whose operating results are regularly reviewed by the Board of Directors to makedecisions about management resources to be allocated to the segment and assess its performance.
The Company has established “Solutions Vehicles” as organizations for executing its growthstrategies from a solutions perspective. There are ten Solutions Vehicles grouped into four solution
domains called “Solutions Units.” Each Solutions Unit has established a global Group strategy for
its products and services, bringing together subsidiaries in Japan and overseas as one to develop
its business activities.
The Company therefore comprises four reportable segments categorized by solution: the“Material Solutions Unit,” “Quality of Life Solutions Unit,” “Health Care Solutions Unit,” and “Nutrition
Solutions Unit.”
The Material Solutions Unit contributes to environmental protection and comfortable living by
providing solutions in the form of high-performance materials to support the development of social
infrastructure and mobility (i.e., weight reduction and improved fuel economy), and cutting-edge
materials such as biodegradable polymers that assist directly with the realization of environmentalsocieties.
The Quality of Life Solutions Unit contributes to energy conservation and the creation of highquality lifestyles by providing solutions in the form of high-performance materials and uniqueservices that respond to the need for energy conservation and adoption of smart technologies inhousing and daily infrastructure. The unit is also responding to innovation in information-driven
societies, such as the advancement of the IoT and AI.
The Health Care Solutions Unit contributes to a society with better longevity and moresophisticated medical care by providing valuable solutions that combine devices andpharmaceuticals in fields such as medicine, health, and nursing care. The unit is also developing aunique health care business based on advanced medical technologies such as biopharmaceuticals
and regenerative and cellular medicine.
The Nutrition Solutions Unit contributes to health and high-quality food by providing a wide
range of solutions in the form of distinctive materials and supplements that meet needs around fooddiversification and health promotion. The unit also provides solutions that contribute to foodproduction support in the fields of agriculture, livestock, and fishery.

- 18 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

The Solutions Vehicles and main products that belong to each reportable segment are as follows:
Solutions Unit
(Reportable Segment)

Solutions Vehicle

Performance Polymers (MOD)General PVC resins, Caustic soda,
Specialty PVC resins
Modifiers, Epoxy masterbatch,
Biodegradable polymers

Performance Polymers (MS)Modified silicone polymers

Vinyls and Chlor-Alkali
Material
Solutions Unit

Foam & Residential Techs
Quality of Life
Solutions Unit

E & I Technology
PV & Energy management

Health Care
Solutions Unit

Nutrition
Solutions Unit

Main products

Expandable polystyrene resins and products,
Extruded polystyrene foam boards,
Extruded polyolefin foam,
Solar circuit construction method(external insulation and double ventilation
construction) products
Polyimide films, Optical materials,
Graphite sheets
Photovoltaic modules,
Energy storage batteries for residences

Performance Fibers

Acrylic synthetic fibers

Medical

Medical devices

Pharma & Supplemental Nutrition(Pharma)

Small molecule pharmaceutical materials,
API, Biopharmaceuticals

Pharma & Supplemental Nutrition(Supplemental Nutrition)

Functional foodstuffs, Probiotics

Foods & Agris

Margarine, Shortening, Bakery yeast, Spices,
Antifreeze materials, Dairy products,
Functional fertilizers and feeds

2) Basis of Calculation of Monetary Amounts for Net Sales, Profit or Loss, Assets, Liabilities, andOther Items by Reportable Segment
Accounting treatment and procedures for report segments are the same as those shown in the“Notes to the Consolidated Financial Statements.” Intersegment transactions are based onprevailing market prices.

- 19 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

3) Segment Information by Business Category
Previous fiscal year (from April 1, 2022 to March 31, 2023)(Millions of yen)
Reportable segment
Material
Solutions
Unit

Quality ofLife
Solutions
Unit

Health Care
SolutionsUnit

333,854

172,766

384

Total

Others(Note 1)

Total

Amounts on
consolidated
Adjustment
financial statements(Note 2)

Nutrition
Solutions
Unit

Total

70,786

177,339754,747

1,074

755,821―755,821

33

―

51

469

1,135

1,605

(1,605)―334,238

172,800

70,786

177,391755,2162,210

757,426(1,605)755,821

Segment profit

27,44916,131

15,682

7,585

66,849554

67,404(32,316)35,087

Segment assets

293,447

212,030

86,846

119,893712,218

462

712,681

69,958782,640

13,818

11,661

3,963

5,093

34,53619

34,556

4,624

39,180

―

―

367

172

540

―

540

110

650

69

2,584

―

―

2,654

―

2,654

―

2,654

10,642

9,885

5,229

3,718

29,476

101

29,577

14,77044,348

Sales
Customers
Intersegment

OthersDepreciation
Amortization of
goodwill
Investment inequity-method
associates
Increase in fixed
assets

Notes: 1 “Others” is a business segment that is not included in the reportable segments and includes
property insurance and life insurance business.
2 Segment profit is reconciled with operating income in the consolidated financial statements.

- 20 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)

Fiscal year under review (from April 1, 2023 to March 31, 2024)(Millions of yen)
Reportable segment
Material
Solutions
Unit

Quality ofLife
Solutions
Unit

Health Care
SolutionsUnit

322,902

176,182

225

Total

Others(Note 1)

Amounts on
consolidated
Adjustment
financial statements(Note 2)

Total

Nutrition
Solutions
Unit

Total

74,856

187,182

761,123

1,178

762,302―762,302

47

―

47

320

1,147

1,467

(1,467)―323,127

176,230

74,856

187,229

761,4442,325

763,769(1,467)762,302

Segment profit

27,495

15,361

12,941

12,07667,875667

68,542(35,963)

32,579Segment assets

318,282

222,946

108,205

127,832

777,267

521

777,789

92,416870,205

14,388

11,562

4,397

5,300

35,64816

35,664

4,841

40,505

―

―

402

153

556

―

556

119

675

72

2,742

―

―

2,814

―

2,814

―

2,814

20,513

12,282

11,073

5,451

49,32018

49,33924,06273,401

Sales
Customers
Intersegment

OthersDepreciation
Amortization of
goodwill
Investment inequity-method
associates
Increase in fixed
assets

Notes: 1 “Others” is a business segment that is not included in the reportable segments and includes
property insurance and life insurance business.
2 Segment profit is reconciled with operating income in the consolidated financial statements.
4) Reconciliation between Segment Totals and Amounts on Consolidated Financial Statements(Adjustments)(Millions of yen)
From April 1, 2022
to March 31, 2023

IncomeSegment total
Segment profit of Others
Elimination of intersegment transactions
Corporate expenses (Note)
Other adjustments
Operating income in the consolidated statements of income

From April 1, 2023
to March 31, 2024

66,84967,875

554

667

1

1

(32,422)(36,053)103

88

35,08732,579Note: Corporate expenses primarily are expenses for basic R&D that are not allocable to any
reportable segments.

- 21 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(Millions of yen)
From April 1, 2023
to March 31, 2024

From April 1, 2022
to March 31, 2023

AssetsSegment total

712,218

777,267462

521

Elimination of intersegment transactions(11,171)(12,929)

Corporate assets (Note)

81,162

106,416(32)(1,069)782,640

870,205

Segment assets of Others

Other adjustments
Total assets in the consolidated balance sheets

Note: Corporate assets are excess working capital at corporate level, investment securities, land andcertain other assets that are not allocable to any reportable segments.
(Millions of yen)
Other items

Reportable segment
total

OthersAdjustments (Note)

Consolidated

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

Previous
fiscal year

Current
fiscal year

34,53635,648

19

16

4,624

4,841

39,18040,505

Amortization of
goodwill

540

556

―

―

110

119

650

675

Increase in fixed
assets29,47649,320101

1814,77024,062

44,34873,401

Depreciation

Note: Adjustments primarily are expenses for basic R&D that are not allocable to any reportablesegments.
(Related Information)
Information by Geographic Area
(Sales)Previous fiscal year (from April 1, 2022 to March 31, 2023)
Japan
414,250

Asia
152,059

North America

Europe74,62577,903(Millions of yen)
Other areas
36,983

Total
755,821

Note: Sales are classified into countries or regions based on the geographic location of customers.
Fiscal year under review (from April 1, 2023 to March 31, 2024)
Japan
427,433

Asia
149,390

North America

Europe69,31881,811(Millions of yen)
Other areas
34,348

Total
762,302

Note: Sales are classified into countries or regions based on the geographic location of customers.

- 22 -

Financial Results for the Fiscal Year Ended March 31, 2024, Kaneka Corporation (4118)(Per Share Information)
The basis of calculation of net assets per share, basic net income per share and diluted net income
per share are shown below.
Item

Previous fiscal year
From April 1, 2022
to March 31, 2023

Fiscal year under review
From April 1, 2023
to March 31, 2024

¥6,431.63¥7,068.91

Basic net income per share¥349.59¥357.90

Diluted net income per share¥348.66¥356.87

Net assets per share

Item

Previous fiscal year
From April 1, 2022
to March 31, 2023

Fiscal year under review
From April 1, 2023
to March 31, 2024

Basic net income per share
Net income attributable to owners ofparent (Millions of yen)

23,00823,220Net income attributable to common
stockholders of parent(Millions of yen)

23,00823,220

Average number of shares ofcommon stock during the period(Thousands of shares)

65,81564,879Adjustment of net income attributable toowners of parent (Millions of yen)――

Increase in shares of common stock(Thousands of shares)

175

187

Of which, subscription rights to shares(Thousands of shares)

175

187

Diluted net income per share(Subsequent Events)
Not applicable- 23 -