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Copyright © SHIKOKU CHEMICALS CORPORATION

Financial Results
for the 2 nd Quarter of the FY2021（April 1, 2020-September 30, 2020）
October 27, 2020

Code number：4099

Contents
Corporate Profile
Highlights of Financial Results for the 2Q of FY2021
Financial Results Trend (consolidated and quarter)
Sales Trends by Region
Progress report
Assets / Liabilities, and a total equity (consolidated)
Sales and Profit by Business segments
Chemicals operations segment
Housing Materials operations segment
Cash Flow Overview (consolidated)
Sales / Operating Income Trend (consolidated)･･･ 3･･･ 4･･･ 5･･･ 6･･･ 7･･･ 8･･･ 9～10･･･ 11～12･･･ 13～14･･･ 15･･･ 162Copyright © SHIKOKU CHEMICALS CORPORATION

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Corporate Profile▼Company overview■Company nameSHIKOKU CHEMICALS CORPORATION■Incorporated
October 10, 1947
The Company was established in Marugame, Kagawa Prefecture, as a producer ofcarbon disulfide.
■Lines of Business〒Chemical operations〓Inorganic Chemicals, Organic Chemicals, Fine Chemicals〒Housing Materials operations〓Interior, Exterior Finishes and Paving Materials,
Home Exterior Products,Decorative Exterior Products■R&D,Plant Facilities 1 R&D,7 Plants■Directory〒Japan〓2 branches,10 sales offices 〒Overseas〓U.S.A,China(Shanghai,Shenzhen),Taiwan,Shingapore■Capital
6,867 million yen■Number of employees Consolidated 1,217 Non-Consolidated 632（As of September 30, 2020）▼Share of stock■Issued Shares
56 million shares■Number of Shareholders 4,128（As of September 30, 2020）▼SHIKOKU CHEMICALS CORPORATION Group〒Japan〓10 consolidated subsidiaries〒Overseas〓one consolidated subsidiary and one unconsolidated subsidiary
SHIKOKU INTERNATIONAL CORPORATIONSHIKOKU KEIZAI CORPORATION
Nippon Ryutan Kogyo Co., Ltd.
SHIKOKU KEIZAI KANTO CORPORATION
Shikoku Environmental Business Company
NIHON KOHKI CORPORATION
Shikoku Analytical Laboratories
SHIKOKU SYSTEM KOHBOH CORPORATIONSHIKOKU KOSAN CORPORATION
Shikoku Foods & Trading Company
Shikoku Foods & Insurance Service Co., Ltd.
Shikoku (Shanghai) Co., Ltd.

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Highlights of Financial Results for the 2Q of FY2021(Millions of yen)

Consolidated cumulative 2Q
FY2020AmountFY2021Percentage

AmountPercentage

Increase ofamount

Changes

25,693100.0%

23,408100.0%▲ 2,285▲8.9%

Operating Income

3,567

13.9%

2,609

11.1%

▲ 958

▲26.9%

Ordinary income

3,626

14.1%

2,822

12.1%

▲ 803

▲22.2%Net income attributableto owners of the parent

2,534

9.9%

1,924

8.2%

▲ 609

▲24.1%

Exchange rate (USD)

109

107

Exchange rate (EUR)

123

120

Net sales

The exchange rates given above are average rates for the period from April to September.

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www.shikoku.co.jpFinancial Results Trend (consolidated and quarter)(Millions of yen)

Net sales

Operatingincome
marginCost of sales
Selling,
general andadministrative
expenses
Operatingincome5Copyright © SHIKOKU CHEMICALS CORPORATION

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Sales Trends by Region(Millions of yen)

Outside Japan
Sales Ratio

Total

North
America

Asia

Others6

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Progress report
Progress rate to full-year result

Progress rate to full-year forecast

Net sales
progressratio

Operatingincome
progressratio

Net sales

Operatingincome（forecast）(Millions of yen)

12,364 25,130
Net sales
1,549
3,441
Operating income

38,919 52,813
5,917
8,049

12,823
1,729

25,693
3,567

38,160 51,564
5,564
7,848

11,592
1,262

23,4082,609

49,0006,800

Note： Revisions to the consolidated earnings forecasts most recently announced： Yes

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Assets / Liabilities, and a total equity (consolidated)(Millions of yen)

(Millions of yen)

Total liabilities
and equity
Total assets

Notes and accounts
payable - trade

Cash anddeposits

Short-term andCurrent portion of
long-term loans
payableAccounts
receivable

Other current
liabilities

Securities

Long-term loans
payableOther noncurrent liabilities

Inventories
Other current
assetsTangible fixed
assetsTotal equity

Intangible fixed
assets andInvestment andother assetsinterest-bearing debt
（millions of yen）

net interest-bearing debt
（millions of yen）

Equity ratio（％）

10,838

10,883▲ 15,769▲ 11,944

70.2%

73.3%

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Sales and Profit by Business segments■ Sales amountOthers

constituent ratio399(1.7%)(Millions of yen)

Housing Materials
operations

Exterior
Products

Inorganic
Chemicals

8,001(34.2%)

8,711(37.2%)

4,669(19.9%)

FY2021

Chemicaloperations
14,297(61.1％)

Consolidated
cumulative 2Q
Net salesInterior, Exterior
Finishes and Paving
Materials■ Segment information (Millions of yen)710(3.0%)
Consolidated
cumulative 2Q
FY2020 FY2021

Increaseofamount

Changes

23,408Organic
Chemicals
5,744(24.5%)

Fine Chemicals
3,882(16.6%)

Net sales
Chemical operations

15,74014,297▲ 1,442▲9.2%

Housing Materials
operations

9,593

8,711

▲ 881

▲9.2%

Chemical operations

2,955

2,131

▲ 823

▲27.9%

Housing Materials
operations

1,527

1,337

▲ 190

▲12.4%

Segment profit

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Sales and Profit by Business segments

www.shikoku.co.jp(consolidated and quarter)(Millions of yen)

Housing
Materials
segment
profitrate
Chemicalsegment
profitrate

Chemicalsegment
profitHousing
Materials
segment
profitChemical operations
net sales
Housing Materials
operations net sales
Chemicalsegment profit
Housing Materials
segment profit

8,024

8,132

7,988

7,734

7,854

7,885

7,092

7,317

7,051

7,245

4,193

4,350

5,593

5,986

4,821

4,772

5,137

5,888

4,362

4,349

1,577

1,652

1,731

1,377

1,514

1,440

1,362

1,338

1,093

1,038

452

673

1,160

1,241

704

822

1,048

1,390

601

735

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Chemicals operations segment(Millions of yen)

Inorganic
Chemicals【 Main products 】
 Insoluble sulfur

4,669(19.9%）

FY2021
Consolidated
cumulative 2Q
Chemical operations
Net sales

14,297

Organic Chemicals
5,744(24.5%)■■■

Vulcanizing agent for rubber
Carbon Disulfide
Sodium Sulfate
Sodium carbonate【 Main products 】
Cyanuric acid derivatives■for swimming pool andseptic tank disinfectants
Hipolka

Fine Chemicals
3,882(16.6%)【 Main products 】
 Glicoat-SMD
Heat-resistant OSP (OrganicSolderability Preservative) for
printed wiring boards
Imidazoles
Imidazole derivatives for an epoxy resin
curing agent and a raw material for
pharmaceuticals and other applications;modifiers for high-added-value resins■THEIC11

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Sales Trend of Chemical operations(consolidated and quarter)(Millions of yen)

FineChemicals

Organic
Chemicals

Inorganic
Chemicals

Fine Chemicals
Organic Chemicals
Inorganic Chemicals

2,044
2,839
3,140

2,190
2,707
3,233

2,188
2,450
3,350

1,790
2,761
3,183

1,844
2,859
3,149

2,148
2,659
3,077

2,159
1,948
2,984

1,937
2,679
2,700

1,984
2,877
2,189

1,898
2,867
2,479

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Housing Materials operations segment【Main products】
 Home Exterior Productsgates, fences , garage and accordion gate

Decorative Exterior Products
large gates and fences , shelter, bicycle parking, garbage
collection container and Greening system【Main products】
 Interior, Exterior Finishes and Paving Materials“ALPHAGRAN” （ facade ）(Millions of yen)

Exterior Products
8,001(34.2%)

FY2021
Consolidated
cumulative 2Q
Housing Materials
operations net sales

Interior, Exterior
Finishes and Paving
Materials

8,711

710(3.0%)“Fun roof” （ terrace ）13

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Sales Trend of Housing Materials operations(consolidated and quarter)(Millions of yen)

Exterior
ProductsInterior,Exterior
Finishes
and Paving
Materials
Exterior Products

3,746

3,926

5,147

5,547

4,401

4,355

4,705

5,492

4,007

3,994

Interior, Exterior Finishes
and Paving Materials

446

423

446

438

419

417

431

396

355

355

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Copyright © SHIKOKU CHEMICALS CORPORATIONCash Flow Overview (consolidated)(Millions of yen)

Operatingactivities

Operatingactivities

Free cash flow
Free cash flow

Investingactivities
Investingactivities15www.shikoku.co.jp

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Sales/Operating Income Trend (consolidated )(Millions of yen)

Sales
売上高
営業利益
Operating income（forecast）

Operatin g income margin
営業利益率【The 2Q of FY2021】（forecast）

Sales
23,408 million yen(Progress ratio 47.8%)（forecast）（forecast）

Operating income
2,609 million yen(Progress ratio 38.4％)

13.9% Note： Revisions to the consolidated earnings forecasts most recently announced： Yes
2.9%
12.9% 12.3%
12.0%

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Contact Information
Corporate planning department,
Shikoku Chemicals CorporationTEL：+81-(0)877-21-4119
FAX：+81-(0)877-22-4119
www.shikoku.co.jp[Note regarding this document]
Forward-looking statements or projections mentioned in this document, including earnings are
based on currently available information and actual results may differ from the projection due tovarious factors.
Further, the purpose of this material is to provide information to the investors, and not to serve asa recommendation to buy or to sell. Please note that Shikoku Chemical Corporation will not be
responsible for the consequences of investments etc.