Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 12, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name: Taoka Chemical Co., Ltd
Listing:
Tokyo Stock Exchange
Securities code: 4113
URL:
https://www.taoka-chem.co.jp
Representative: Yasuaki Sasaki, President
Inquiries:
Yasuhito Katsumoto, General Manager, Business Services OfficeTelephone:+81-6-7639-7400
Scheduled date of annual general meeting of shareholders:June 22, 2023
Scheduled date to commence dividend payments:
June 2, 2023
Scheduled date to file annual securities report:
June 22, 2023
Preparation of supplementary material on financial results:
None
Holding of financial results briefing: Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022
to March 31, 2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Sales revenue
Fiscal year ended

Millions ofyen%

March 31, 2023
March 31, 2022

30,16632,374(6.8)
1.0Note: Comprehensive income

Operating income

Ordinary income

Net income
attributable toowners of theparent

Millions ofyen

Millions ofyen

Millions ofyen%

451 (83.3)
2,708 (32.6)%

457 (83.6)
2,798 (31.1)%

310 (84.9)
2,063 (21.1)

For the fiscal year ended March 31, 2023: ¥ 337 million [(83.8)%]
For the fiscal year ended March 31, 2022: ¥ 2,079 million [(21.4)%]

Diluted netincomeper share

Net income
per share

Ratio ofordinary
income tototal assets

Return onequity

Ratio ofoperating
income to netsales

Fiscal year ended
March 31, 2023

YenYen%%%

21.68

－

1.9

1.4

1.5

March 31, 2022

144.03

－

12.9

9.3

8.4

Reference: Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2023: ¥ － million
For the fiscal year ended March 31, 2022: ¥ － million
Note: Effective on October 1, 2021, the Company split one common share into five shares. Net income per share
was calculated under the assumption that this stock split was conducted at the beginning of the previous
consolidated fiscal year.

(2) Consolidated financial position

Equity-to-asset
ratio

Net assets pershare

Total assets

Net assets

Millions of yen

Millions of yen%

Yen

31,06932,417

16,57016,74953.3
51.7

1,156.45
1,168.92

As ofMarch 31, 2023
March 31, 2022

Reference: Equity
As of March 31, 2023: ¥16,570 million
As of March 31, 2022: ¥16,749 million(3) Consolidated cash flows
Cash flows from Cash flows from Cash flows fromCash and cashoperating
investingfinancingequivalents at end
activities
activities
activitiesof period
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Fiscal year ended
March 31, 2023
1,478
(4,339)2,995
853
March 31, 2022
(1,329)(2,075)(273)
718
2. Cash dividends
Annual dividends per share

Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
(Forecast)

Third
Fiscalquarteryear-end
end

Ratio ofTotal cash
Payout ratio dividends todividends(Consolidated) net assets(Total)(Consolidated)First
quarterend

Secondquarterend

Yen

Yen

Yen

Yen

Yen

Millions ofyen%%

−

90.00

−

18.00

−

515

25.0

3.2

−

18.00

−

9.00

27.00

386

124.5

2.3

−

9.00

−

9.00

18.00

Total

64.5

Note: Effective on October 1, 2021, the Company split one common share into five shares. The year-end
dividend per share for the fiscal year ended March 31, 2022 is stated by taking into account the effect of
the stock split, and the total annual dividend is stated as “−.” When the effect of the stock split is takeninto account, the second quarter-end dividend per share and annual dividend per share for the fiscal year
ended March 31, 2022 will be ¥18.00 and ¥36.00, respectively.

3. Consolidated financial forecasts for the fiscal year ending March 31, 2024 (from April 1,2023 to March 31, 2024)(Percentages indicate year-on-year changes.)

Secondquarter-end(Cumulative)
Full year

Sales revenue

Operating income Ordinary income

Millions ofyen

Millions ofyen%%Millions ofyen%

Net income
attributable toowners of theparent
Millions ofyenNet
incomeper share%

Yen15,000 (1.7)

150 (39.8)

150 (46.3)

100 (47.7)

6.98

32,000

700

700

400

27.92

6.1

55.2

52.9

28.8

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting
in the change in scope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and otherregulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023
As of March 31, 2022

14,440,000 shares
14,440,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023
As of March 31, 2022

111,140 shares
111,140 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023
Fiscal year ended March 31, 2022

14,328,860 shares
14,328,860 shares

Note: Effective on October 1, 2021, the Company split one common share into five shares. The above numbers ofshares were calculated under the assumption that this stock split was conducted at the beginning of theprevious consolidated fiscal year.

[Reference] Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1,2022 to March 31, 2023)(1) Non-consolidated operating results
Sales revenue
Fiscal year ended
March 31, 2023
March 31, 2022

Millions ofyen%(Percentages indicate year-on-year changes.)

Operating income

Ordinary income

Millions ofyen

Millions ofyen%

27,520 (11.8)
31,217 (0.5)

267 (89.7)
2,594 (34.2)

Net income
per share

Diluted net
incomeper share

Fiscal year ended
March 31, 2023

15.29

－

March 31, 2022

140.03－Yen

314 (88.5)
2,723 (31.9)

Millions ofyen%

219 (89.1)
2,006 (22.0)

Yen(2) Non-consolidated financial position
As ofMarch 31, 2023
March 31, 2022%

Net income

Equity-to-asset
ratio

Net assets pershare

Total assets

Net assets

Millions of yen

Millions of yen%

Yen

30,27731,928

16,283
16,59153.8
52.0

1,136.42
1,157.92

Reference: Equity
As of March 31, 2023: ¥16,283 million
As of March 31, 2022: ¥16,591 million* Financial results reports are exempt from audit conducted by certified public accountants or anaudit corporation.
* Proper use of earnings forecasts, and other special matters(Caution regarding forward-looking statements and others)
The forward-looking statements, including financial forecasts, contained in this report are based on
information currently available to the Company and certain assumptions deemed to be reasonable.
Accordingly, they are not intended to be construed as assurance that they will be accomplished inthe future. Note that actual results may differ materially from the forecasts for a number of reasons.

Though sales prices of products increased reflecting a steep rise in raw material prices, sales
revenue of monomers for optical resins and rubber additives decreased. As a result, the Taoka
Chemical Group’s consolidated sales revenue for the fiscal year ended March 31, 2023 decreasedby ¥2,207 million compared with the previous fiscal year, to ¥30,166 million. The Group postedoperating income of ¥451 million, ordinary income of ¥457 million and net income attributable toowners of the parent of ¥310 million.
The financial results of Taoka Chemical by business segment for the fiscal year were as follows:
Fiscal year ended
March 31, 2022

Division

Fiscal year ended
March 31, 2023

ChangeMillions of Composition Millions of Composition Millions of Year-on-year
yenratio (%)
yenratio (%)
yenrate (%)

Fine Chemicals

17,15352.9

13,85645.9(3,296)(19.2)

Functional Chemicals
Functional Polymers andAdditives
Chemicals Segment

3,807

11.83,285

10.9(522)(13.7)

10,813

33.4

12,403

41.1

1,590

14.7

31,77498.1

29,54597.9(2,228)

(7.0)

599

1.9

620

2.1

21

3.6

32,374100.0

30,166100.0(2,207)(6.8)

Analytical Services
Total

Note: The “Analytical Services,” which previously composed the “Others” segment, has been presented as areportable segment because its quantitative importance has increased.

Chemicals Segment
Sales revenue of this segment was ¥29,545 million, a ¥2,228 million decrease compared to theprevious fiscal year.
Fine Chemicals Division
Though sales prices of products increased reflecting a steep rise in raw material prices, shipments
of monomers for optical resins, pharmaceutical intermediates, and agrochemical intermediates
decreased. As a result, the division sales revenue decreased by ¥3,296 million to ¥13,856 million.
Functional Chemicals Division
Shipments of adhesives and rubber additives decreased. As a result, the division sales revenue
decreased by ¥522 million to ¥3,285 million.
Functional Polymers and Additives Division
Sales of varnish in China contributed to the increase in the division sales revenue for the full year
and sales prices of products increased reflecting a steep rise in raw material prices. As a result, thedivision sales revenue increased by ¥1,590 million to ¥12,403 million.
Analytical Services Segment
Sales revenue of asbestos analysis and evaluation of hazardous substances increased. As a result,the segment sales revenue increased by ¥21 million to ¥620 million.