May 10, 2018

Summary of Consolidated Financial Statements
Denka Company Limited
1. Consolidated Financial Results For Fiscal Year 2017 ( April to March )(1) Consolidated Results of Operations (Accumulated Total)(Percentages show rate of change compared with the same term of the previous year)
Profit attributable
Operating Income
Ordinary Income
to owners of parent

Net Sales(Millions of Yen)％

(Millions of Yen)％

(Millions of Yen)％

(Millions of Yen)％FY2017 Apr to March

395,6299.1

33,65230.2

31,49936.0

23,03526.9

FY2016 Apr to March

362,647△ 1.925,844△ 15.623,158△ 14.318,145△ 6.8(Note) Comprehensive income
FY2017 Apr to MarchFY2016 Apr to March(Millions of Yen)

26,081 ( 28.7％)
20,266 ( 43.9％)
Net income per share Net income per share(basic)(diluted)(Yen)

FY2017 Apr to MarchFY2016 Apr to March

Return on Equity Return on Assets Operating Income Ratio(Yen)

261.80205.05

-(％)

(％)

(％)

10.0
8.3

6.8
5.2

8.5
7.1

The Company has consolidated its shares in the proportion of 5 common shares to 1 common share, effective as of October 1, 2017.
Net income per share is calculated under the assumption that the consolidation of shares was implemented at the beginning of the preceding fiscal year.

(Reference) Equity in earnings of affiliates

FY2017 Apr to MarchFY2016 Apr to March(Millions of Yen)

1,105
568

(2) Consolidated Financial Position
Total Assets

Equity Ratio

Net Assets per Share(Millions of Yen)％(Yen)

475,086
454,944242,780
227,48750.3
49.1

2,727.94
2,526.42

At end of March 2018
At end of March 2017
(Reference) Shareholder's equity
At end of March 2018
At end of March 2017

Net Assets(Millions of Yen)

(Millions of Yen)

239,063
223,565

The Company has consolidated its shares in the proportion of 5 common shares to 1 common share, effective as of October 1, 2017.
Net Assets per share is calculated under the assumption that the consolidation of shares was implemented at the beginning of the preceding fiscal year.

(3) Consolidated Statements of Cash Flows

Cash Flow fromOperating Activities

Cash Flow from
Investing Activities(Millions of Yen)FY2017 Apr to March

48,776FY2016 Apr to March

39,557

Cash Flow from
Financing Activities

Cash and Cash Equivalents(Millions of Yen)

(Millions of Yen)

(Millions of Yen)

△ 29,298△ 22,258△ 15,858△ 19,319

14,101
10,174

2. Dividends
Dividend per share
End of 1st Quarter End of 1st Half End of 3rd Quarter(Yen)

FY2016 Apr to MarchFY2017 Apr to MarchFY2018 Apr to Mar ( Forecast )

──
──
──

7.00
10.00
60.00

Year-end(Yen)

(Yen)

──
──
──

Annual(Yen)

(Yen)

7.00
55.00
60.00

14.00
──
120.00

The Company has consolidated its shares in the proportion of 5 common shares to 1 common share, effective as of October 1, 2017. As for the year-end dividends for thefiscal year ending March 31, 2018, we quote the amount that takes into account the impact of the said share consolidation.
The dividend forecast that does not take into account the share consolidatiion for the fiscal year ending March 31, 2018 is as follows
Cash dividends per share (end of 2Q) : 10.00 yen( year end ) : 11.00 yen

3. Consolidated Forecasts for the Fiscal Year Ending(Percentages show rate of change compared with the same term of the previous year)
Profit attributable
Net Income Per Share
Operating Income Ordinary Incometo owners of parent

Net Sales

FY2018 1st Half Apr to Sep
FY2018 Apr to March(Millions of Yen)％

(Millions of Yen)％

195,000
410,000

3.8

14,00036,000

△2.2

3.6

7.0

(Millions of Yen)％

13,000 △ 15.9
7.9
34,000％(Yen)

10,000 △18.5
8.5
25,000114.11285.27(Millions of Yen)