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.

January 30, 2023

Consolidated Financial Results
for the Nine Months Ended December 31, 2022
(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 to file quarterly securities report:
February 10, 2023
Scheduled date to commence dividend payments:–Preparation of supplementary material on quarterly financial results: None
Holding of quarterly financial results briefing:
None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2022 (from April 1,2022 to December 31, 2022)(1) Consolidated operating results (cumulative)
Sales revenue
Nine months ended

Millions ofyen%

December 31, 2022
December 31, 2021

22,857
24,406(6.3)
4.0

Note: Comprehensive income(Percentages indicate year-on-year changes.)

Operating income

Ordinary income

Net income
attributable toowners of theparent

Millions ofyen

Millions ofyen

Millions ofyen%

520 (77.1)
2,267 (20.6)%

534 (77.0)
2,329 (19.5)

360 (78.5)
1,674 (17.0)

For the Nine months ended December 31, 2022: ¥346 million [(79.1)%]
For the Nine months ended December 31, 2021: ¥1,661 million [(17.8)%]

Net income
per share

Diluted net income
per share

Nine months ended
December 31, 2022

25.16

－December 31, 2021

116.85

－

Yen%

Yen

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

Total assets

Net assets

Millions of yen

Millions of yen%

33,79832,417

16,57916,74949.1
51.7

As ofDecember 31, 2022
March 31, 2022

Reference: Equity
As of December 31, 2022:
As of March 31, 2022:¥16,579 million¥16,749 million

2. Cash dividends
Annual dividends per share
SecondThird
Fiscal yearquarter-end
quarter-end
endFirstquarter-end
Fiscal year ended
March 31, 2022
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023
(Forecast)

Total

Yen

Yen

Yen

Yen

Yen

−

90.00

−

18.00

−

−

18.00

−
9.00

27.00

Note: Revisions to the forecasts of cash dividends most recently announced: None
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 taken into 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, 2023 (from April 1,2022 to March 31, 2023)(Percentages indicate year-on-year changes.)

Sales revenue

Full yearMillions ofyen%

31,000(4.2)

Operating income Ordinary income

Net income
attributable toowners of theparent

Millions ofyen

Millions ofyen%

500 (81.5)

Millions ofyen%

500 (82.1)

Net
incomeper share%yen

300 (85.5)

20.94

Note: Revisions to the forecasts of consolidated financial results most recently announced: None

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting
in the change in scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financialstatements: Yes(3) 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
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2022
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 December 31, 2022
As of March 31, 2022

111,140 shares
111,140 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of
the fiscal year)
Nine months ended December 31, 2022
Nine months ended December 31, 2021

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.

* Quarterly financial results reports are exempt from quarterly review conducted by certified public
accountants or an audit 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 in
the future. Note that actual results may differ materially from the forecasts for a number of reasons.

The Taoka Chemical Group’s consolidated sales revenue for the nine months ended December 31,2022, decreased by ¥1,549 million compared with the same period of the previous fiscal year, to¥22,857 million. The Group posted operating income of ¥520 million, ordinary income of ¥534
million and net income attributable to owners of the parent of ¥360 million.
The financial results of Taoka Chemical by business segment for the nine month period were asfollows:
Division

Nine Months Ended Nine Months Ended
December 31, 2021 December 31, 2022

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

Fine Chemicals

13,69656.1

10,46545.7(3,230)(23.6)

Functional Chemicals
Functional Polymers andAdditives
Chemicals Segment

2,926

12.0

2,485

10.9

(440)

(15.1)

7,354

30.1

9,456

41.4

2,101

28.6

23,97798.2

22,40798.0(1,569)(6.5)

Others

429

1.8

449

2.0

204.8

Total

24,406100.0

22,857100.0(1,549)(6.3)

Chemicals Segment
Sales revenue of this segment was ¥22,407 million, a ¥1,569 million decrease compared to thesame period of the previous 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 decreased. As a result, the division sales revenue decreased by¥3,230 million, to ¥10,465 million.
Functional Chemicals Division
Shipments of adhesives and rubber additives decreased. As a result, the division sales revenue
decreased by ¥440 million to ¥2,485 million.
Functional Polymers and Additives Division
Though shipments of plasticizers decreased, varnish was launched in China and sales prices ofproducts increased reflecting a steep rise in raw material prices. As a result, the division sales
revenue increased by ¥2,101 million, to ¥9,456 million.
Others (Analytical Services)Though sales of soil analysis decreased, sales of asbestos analysis and evaluation of hazardous
substances increased. As a result, the segment sales revenue increased by ¥20 million, to ¥449
million.