IR Briefing for 1H
the Fiscal Year Ending March 2023
Progress in the Second Year of Medium-Term Management Plan NC2023

Inabata & Co., Ltd.
Katsutaro Inabata, Director, President
Inabata & Co., Ltd. held the financial results briefing for 1H the fiscal year
ending March 2023 via live broadcast on December 5, 2022.

1

Contents
Page
3

Company Overview

5

Summary of Medium-Term Management Plan NC2023

11

1H Progress in the Second Year of NC2023

17

Returning Profits to Shareholders

20

ESG

25

Reference Materials* In this document, Net income = Net income attributable to owners of parent

2Company Overview

About Inabata:
1. Founded in 1890

Inabata Dye Shop (Nishijin, Kyoto)

The Company was founded in Kyoto in 1890 as animporter of dyestuffs. The business was later
expanded with a focus on chemicals.

2. A globally expanding, multifaceted
trading company
The company operates at 60 locations across 18 countries. Business
functions include market development, manufacturing and processing,logistics, and finance. Our plans and proposals are based on
specialized expertise and knowledge of products and markets.
3Company Overview
3. Four business segments
We operate in four segments: Information & Electronics,
Chemicals, Life Industry, and Plastics.

Life
Industry
Chemicals 6%

12%FY03/22 Plastics
Net sales: 46%¥680.9billion
Information &Electronics

36%4◼ Summary of Medium-Term Management
Plan New Challenge 2023 (NC2023)

5

NC2023: Basic Policies◼ Second-stage medium-term management plan on the way to our longterm vision, IK Vision 2030

MissionPeople come first, based on the spirit of "love ( ai )" and " respect ( kei )," andtogether we strive towards contributing to the development of society.

VisionIK Values

To continually evolve, serving clients and society, through global
operations and meeting their changing needs.
IK Values
Ethics, aspiration, organization, role, symbiosis

IK Vision 2030
IK Vision 2030 (envisioning ourselves around 2030)

Medium-term management plan

Second stage NC2023 (targets for FY03/24)
First stage NC2020 (concluding March 31, 2021)

6

Long-term Vision IK Vision 2030
◼ Inabata’s aspirations for itself in around 2030

Reach consolidated net sales of ¥1 trillion

Further enhancing multifaceted capabilities (such as
manufacturing, logistics, and finance) in addition to trading
At least one-third of business from segments otherthan Information & Electronics and Plastics
Overseas business

70% or more

[ Formulated May 2017 ]7

NC2023 Quotative Target
Results in the first year of the plan exceeded goals for the final year in terms of both sales
and profit, so goals and performance indicators for the final year were adjusted upward
based on the business environment and future outlook.
Numerical goals andperformance indicators

NC2023
FY03/2024
Initial goals

NC2023
FY03/2024
Revised goals

Net sales¥670.0 billion¥800.0 billion

Operating profit¥16.5 billion¥20.5 billion

Ordinary profit¥17.0 billion¥21.5 billion

Profit attributable toowners of parent¥16.0 billion¥22.5 billion

ROE

8% or more

10% or more

Net debt/equity ratio

0.3x or less0.5x or less

50％ or more

Approximately 40–50%

USD1=¥105.00

USD1=¥120.00

Equity ratio
Exchange rate8

NC2023 Quotative Target (by segment)◼ Raised sales and operating profit projections in all segments for the plan's final
fiscal year (FY03/24)(Billions of yen)

NC2023
Initial goals
Segment

NC2023
Revised goals

OperatingprofitSales

Difference

Operatingprofit

Sales

Sales

OperatingprofitInformation &Electronics

246.0

5.65

284.0

6.30

+38.0

+0.65

Chemicals

77.0

1.50

119.0

2.60

+42.0

+1.10

Life Industry

46.0

2.20

52.0

2.50

+6.0

+0.30

Plastics

300.8

7.05

344.8

9.00

+44.0

+1.95

Other

0.2

0.10

0.2

0.10

0.0

0.0

Total

670.0

16.50

800.0

20.50

+130.0+4.00

Exchange rate

USD1=¥105.00

USD1=¥120.00+¥15.09

NC2023: Revision of Final Year Goals◼ No change was made to the six Key Initiatives; Inabata willcontinue working on them.
Key Initiatives for NC2023
1.

Further development of core businesses and horizontal
expansion into growth sectors

２.

Multi-faceted approach to markets with potential for future
growth and steady monetization efforts

3.

Intensification of investment targeting future growth

4.

Further improvement of global management information
infrastructure

5.

Continuous review of assets and further improvement of capitaland asset efficiency

6.

Enhancement of human capital utilization efforts10◼ 1H Progress in the Second Year of
Medium-Term Management Plan NC2023

11

Operating Environments in 1H FY03/23:
Information & Electronics
FPD(flat panel display) Market• We continued to encounter inventory glut as a result of sluggish end-user demand, and adjustments to
production levels remained significant due to declining panel prices.
• Demand associated with FPD products for use with TVs declined substantially due to inventory
adjustment, while demand for smartphone FPD products slumped due to sluggish end-user demandand prolonged smartphone replacement cycles among consumers. Meanwhile, demand surrounding
FPD products for PCs, monitors, and tablets fell significantly primarily because it was not spurred on by
special demand that was previously observed in FY03/22.
• Sales of organic electroluminescent panels for smartphones continued to grow, but this growth was
limited when measured in terms of area. We project that LCD panels will maintain a dominant share of
total FPD area for some time to come.
• Sales of raw materials for polarizing plates and other FPD materials fell sharply. We expect demand toremain sluggish in 2H.

Projected Breakdown of Total Flat Panel Display Area (LCDs and OLEDs)% of total
panel area

2019

2020

2021

2022

2023

2024

2025

LCDs

96％

96％

95％

94％

94％

93％

93％

OLEDs

4％

4％

5％

6％

6％

7％

7％

Note: Projected figures are provided for reference and represent company predictions based on various data

12

Operating Environments in 1H FY03/23: Plastics◼ Despite a lull in their growth, naphtha prices remained high in the JPY80,000 range, and per-unit
selling prices of commodity resins continued to be high as a result. We also anticipate high naphtha
prices in 2H.
◼ With the exception of resins for daily goods, sales of commodity resins were generally strong amid
growth in selling prices.
◼ Thanks in part to growth in selling prices, sales of high-performance resins remained robust despiteongoing impact from shortages of OA-related and automotive electronic components.

Domestic naphtha prices（JPY/kl）

86,10090,00081,40060,700 64,600

60,00054,20047,70044,80045,40053,50038,80030,00041,20030,20040,200 41,300

25,00031,3000Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22

NC2020

NC202313

1H Progress in the Second Year of NC2023◼ Deterioration in market conditions surrounding the Information & Electronics segment
was greater than anticipated. However, progress toward second-year targets in
NC2023 was generally favorable thanks in part to depreciation of the yen.
◼ We achieved solid progress toward final-year targets in NC2023.
FY03/23
1H
actualFY03/23
forecast

NC2023
Second year targets

NC2023
FY03/24
Final year targets

Net sales¥373.4 billion¥730.0 billion¥730.0 billion¥800.0 billion

Operating profit¥10.5 billion¥19.5 billion¥19.5 billion¥20.5 billion

Ordinary profit¥10.3 billion¥20.5 billion¥20.5 billion¥21.5 billion

Profit attributable toowners of parent¥9.6 billion¥20.5 billion¥20.5 billion¥22.5 billion

Net debt/equity ratio

0.24x

-

0.5x or less0.5x or less

Equity ratio

46.6％

-

Approximately
40–50%

Approximately
40–50%

USD1=¥134.03

USD1=¥140.00*

USD1=¥120.00

USD1=¥120.00

Exchange rate

Note: Net D/E ratio = (interest-bearing debt – cash and deposits) / equity capital* Assumed exchange rates were revised at the beginning of Q3 FY03/23(initial assumption of USD1=JPY120.00 → assumption of USD1=JPY140.00 adopted at beginning of Q3 FY03/23).

14

Second Year of NC2023:
Differences between Full-Year Forecasts and Planned Targets◼ Based on our surrounding business environment, we have lowered our operating profit
forecast for the Information & Electronics segment. Meanwhile, we raised projections for
the Chemicals, Life Industry, and Plastics segments and expect to achieve our overall
second-year target.
(Billions of yen)

FY03/23
forecast
Segment

Sales

NC2023
Second year targets

OperatingprofitSales

Operatingprofitdifference

Sales

OperatingprofitInformation &Electronics

229.5

4.50

273.0

6.20

-43.5

-1.70

Chemicals

90.5

2.60

83.0

2.00

+7.5

+0.60

Life Industry

46.5

2.60

47.0

2.30

-0.5

+0.30

Plastics

363.3

9.70

326.8

8.90

+36.5

+0.80

Other

0.2

0.10

0.2

0.10

0.0

0.0

Total

730.0

19.5

730.0

19.5

0.0

0.0

Exchange rate
(USD/JPY)

140.0

120.0

+20.0
15

NC2023 Investment Status◼ Through our Plastics segment, we pushed forward with investment related primarily tocompounds and inflation molding.
◼ We continue to explore opportunities for investment related primarily to renewableenergy, food products, and motor vehicles.

FY03/22
actual(Billions of yen)

Growth investment

1.20

1H
FY03/23
ActualMajor growth investments
in 1H FY03/23

NC2023 period(FY03/22
onward)0.83

Plastics segment:¥0.24 billion for facilities (related to compound)¥0.15 billion for recycling business¥0.11 billion for facilities (related to inflation molding)
Information & Electronics:¥0.24 billion for Semiconductor-related

2.03

Plastics segment:¥0.15 billion for facilities (related to compound)¥0.14 billion for facilities (related to inflation molding)

2.96

Fixed investment

2.01

0.95

Total

3.21

1.78

4.99
16

◼ Returning Profits to Shareholders

17

NC2023

Returning Profits to Shareholders

Basic Policy on Shareholder Return
During NC2023◼ Progressive dividends
We will ensure that dividend per share does not decline year on year by continually
increasing our dividends◼ Target total return ratio of around 50%
However, in fiscal years when the Company has recorded a considerable amount ofcash inflows from the sale of strategically held shares, instead of being strictly boundedby the target total return ratio, the Company will return profits to shareholders after
comprehensive consideration of various factors including future funding needs, financial
position, stock price, and market conditions.

Note: Total return ratio (%) = (dividend amount + amount of treasury shares acquired) / consolidated net income x 100

18

NC2023

Returning Profits to Shareholders◼ As planned, we expect to issue dividends of ¥115 per share for FY03/23 (interim dividendof ¥50 per share and a year-end dividend of ¥65 per share).
◼ We repurchased and canceled treasury shares to improve capital efficiency.

150

Annual dividends per share and indicatorsof shareholder return(Yen)

Dividend

100

50

Dividend payout ratio

36

33

34.8%

24.1%

23.7%

25.6%

48

FY03/15

FY03/16

FY03/1736.4%

0150.0%

63

53

100.0%
62.2%

46.5%

31.1%

31.1%

115

Total return ratio

40

40

110

200.0%

30.0%

31.9%

27.6%

22.7%

28.1%

27.5%

29.4%

Approx.
50%
target

50.0%

32.0%

0.0%
FY03/18

FY03/19

FY03/20

FY03/21

FY03/22

FY03/23(forecast)

FY03/22

FY03/23*

7,499

1,478

Treasuryshares

FY03/15

FY03/16

FY03/17

FY03/18

FY03/19

FY03/20

Acquisition
amount

604

707

891

679

936

425

No. of sharesacquired

600

600

600

400

600

300

-

3,085

600

No. of sharescancelled

1,660

-

-

-

-

-

-

2,700

3,685

FY03/21-(Millions of yen)(Thousandsof shares)(Thousandsof shares)* Amounts current as of October 31, 2022

19◼ ESG

20

Corporate Governance Structure
June 2022
Transition to Company with Audit and Supervisory Committee
Transition to monitoring-type Board of Directors where independent
outside directors account for more than half
Directors (excluding audit
and supervisory committee
members)

Directors (audit andsupervisory committee
members)

7 persons

4 personsOutsideRatio of independent
outside directors

55％ (6 out of 11)

Outside21

Sustainability Initiatives◼ We will push forward with sustainability management in accordance withour corporate group's mission, which emphasizes respect for humankind.
October 2021

Established Sustainability Committee
Chaired by the Company president; all directors, including thosefrom outside the Company, participate in the Committee as amember or observer

November 2021 Formulated the Inabata Group Sustainability Basic Policy andthe Code of Conduct
April 2022

Signed UN Global Compact (UNGC)

June 2022

Announced “2050 Carbon Neutrality Declaration”
Defined materiality issues
Began disclosures in accordance with TCFD recommendations

22

Identifying Materiality Issues◼ We have identified priority issues with impact on our pursuit ofsustainable growth (June 2022).
◼ We will establish indicators, targets, and plans for each priority issue
in FY2023.
Contributing to a decarbonized and circular society, sustainable use ofnatural capita

Creating
Sustainable
Value

Contributing to safety, security, and well-being
Providing value through resilience in procurement and supply functions

Strengthening
Foundation for
Business
Continuity

Respecting human rights in the spirit of love (ai) and respect (kei) andgrowing together with local communities
Fostering and strengthening the human capital driving the value creation
Enhancing governance and risk management

23

Products that reduce environmental load
◼ Inabata will strengthen initiatives in the environment and energy sectors, includingin the areas of photovoltaic power generation and lithium-ion batteries, and focus
on expanding sales of products that reduce environmental load such asenvironmentally-friendly and recycled resins.
◼ Contribute to realizing a sustainable society while aiming for solid profitability(Billions of yen)
Field

Main contents

FY03/22Sales

1H FY03/23
Sales

FY03/23
Sales(forecast)

Energy & Power

Renewable energy, Alternative fuels, etc.

2.0

0.0

0.4

Resources & Environment

Sustainable raw materials, Recycling, etc.

4.2

5.7

11.5

Materials & Chemicals

Low-carbon materials, EV/battery materials, etc.

12.2

7.0

18.1

Agriculture & Food

Food waste reduction, Soil improvement, etc.

0.0

0.0

0.0

Transportation & Logistics

EV charging, Green logistics, etc.

0.0

0.0

0.0

Environmental certifications

FSC, MSC, ASC, etc.

0.3

0.1

0.5

18.7*

13.0*

30.7*

Total
* Simple aggregate value24◼ Reference Materials

25Key Initiatives for NC2023

1. Further development of core businesses and horizontal
expansion into growth sectors
Segment
Information &Electronics
Plastics

Key Initiatives•••

Enrich LCD and OLED businesses within the Chinese market
Focus on FPDs for the new generation and peripheral components
Concentrate on the currently expanding business related to industrial inkjet
printers•

Take advantage of global expansion in the plastic compounds business andother operations and achieve business expansion, particularly in theautomotive sector

26

Key Initiatives for NC2023

2. Multi-faceted approach to markets with potential for future
growth and steady monetization efforts
Segment

Key Initiatives

Information &Electronics
Plastics
Chemicals••

Expand our lineup of environmental impact-reducing products
Conduct multifaceted rollout of initiatives supporting business in the newenergy sector, 5G-related business, and business associated with
automotive applications and mobilityLife industry（Food and
agriculture）•

Accelerate upstream and downstream expansion through wide-ranging
investment and other initiatives

Life industry(Life science)•Strengthen focus on the regenerative medicine sector and other markets
with growth potential

27Key Initiatives for NC2023
3. Intensification of investment targeting future growth◼ We will consider investing in the following sectors and fields to achieve
expansion in the trading business.
Segment

Information &Electronics
Life industry

Key Initiatives•

Batteries and other elements of renewable energy•

Upstream and downstream domains associated with food products andagriculture (especially processing functions)Regenerative medicine and other growth areas (venture investment, etc.)••

Plastics
Chemicals•

Pursue manufacturing functions with the aim of achieving enrichment in theautomotive sector
Automation and labor saving in manufacturing divisions for compounds, etc.

•

Mobility sector

28Key Initiatives for NC2023
4. Further improvement of global management
information infrastructure
Key Initiatives••

Embrace new technological trends and promote further digitalization (digital transformation
initiatives)
Establish a global management information infrastructure that will support security
enhancement, business continuity planning, and new workstyles

29

Key Initiatives for NC2023
5. Continuous review of assets and further improvement of
capital and asset efficiency
Key Initiatives•••

Reduce the balance of strategic shareholdings at the end of March 2021 by half during thethree years of NC2023
Further reduce strategic shareholdings in the medium to long term, cutting the balance ofstrategic shareholdings at the end of March 2021 by about 80% in the next five years (by theend of March 2027)
The policy is to allocate the funds obtained from the sale of shares held as strategic
shareholdings not to internal reserves but to shareholder returns and investment for future
growth.

30

Key Initiatives for NC2023

6. Enhancement of human capital utilization efforts

Key Initiatives••

Further implement systemic enhancements aimed at supporting global human resource
development and increasing diversity
Strengthen initiatives targeting employee engagement and new workstyle reforms

31

NC2023 Further Development of Core Businesses (Key Initiative 1)
Progress at our compounds plant(sales in the automotive sector in Mexico)◼ As of 1H FY03/23• Demand is slowly recovering from a previous decline caused by COVID-19.
• We expect recovery to continue in 2H, but we do not anticipate full-scale recovery
until FY03/24 at the earliest.
Company: IK Plastic Compound Mexico, S.A. de C.V.
Production capacity:22,300 MT/year
Location:
Silao, Guanajuato, central Mexico
Commenced operations in November
2013, with mass production starting in
September 2014

Sales volume
FY03/21 (actual)

6,900 MT

FY03/22 (actual)

8,700 MT

1H FY03/23 (actual)

5,700 MT

FY03/23 (forecast)

11,900 MT

32

NC2023 Further Development of Core Businesses (Key Initiative 1)
Progress at our compounds plant(sales to manufacturers of OA equipment in the Philippines)◼ As of 1H FY03/23• Despite a decline in sales volume caused by production cutbacks implemented by OA
manufacturers (our primary customer base) in response to electronic component
shortages, we were able to generate sales growth thanks in part to higher prices forplastics.
• In 2H, we expect sales volume to be level with 1H as our primary customers continue
to implement production cutbacks.
Company: IK PLASTIC COMPOUND PHILS. INC.
Production capacity: 17,700 MT/year
Location:
Laguna Province, Philippines
Commenced business and production in
July 2014

Sales volume
FY03/21 (actual)

9,500 MT

FY03/22 (actual)

17,000 MT

1H FY03/23 (actual)

8,100 MT

FY03/23 (forecast)

15,500 MT

33

[Reference] Annual Production Capacity for Plastic Compounds
China

Plastics Compound
Business Office (Japan)

12,600 MT/Y•••

VietnamShares information
Coordinates facilities andraw materials
Reduces costs bypurchasing in bulk

42,000 MT/Y

ThailandPhilippines

38,400 MT/Y

17,700 MT/Y
Building and dismantling plants in line with customers’
relocation strategies
Providing consistent service quality everywhere

Malaysia
27,600 MT/Y

Indonesia
37,200 MT/Y

197,800 MT/Y: 7 sites in 7 countries (As of September 30, 2022)

Mexico22,300 MT/Y34

NC2023 Strategic shareholdings reduction policy (Key Initiative 5)
In addition to the policy covering the three years of NC2023, added a longer-term
policy covering years after that
⚫ Reduce the balance of strategic shareholdings at the end of March 2021 by half during
the three years of NC2023⚫ Further reduce strategic shareholdings in the medium to long term, cutting the balanceof strategic shareholdings at the end of March 2021 by about 80% in the next five years(by the end of March 2027)→Funds procured from the sale of strategic shareholdings are in principle allocatedto shareholder returns and growth investment(billions of yen)
60.0

Strategic shareholdings

40.0

Sales of strategically held shares

50% reduction
80% reduction

20.0

0.0
EndEndFY03/21 FY03/22

EndFY03/24

NC2023

EndFY03/27

FY03/18¥9,017 million

FY03/19¥5,298 million

FY03/20¥3,026 million

FY03/21¥2,944 million

FY03/22¥9,367 million

FY03/23*¥3,800 million* As of September 30, 2022

Notes: The balance of strategic shareholdings in the figure above is the total of the Company’s shareholdings in listed companies in Japan.
Strategic shareholding balances have been calculated using fiscal year-end stock prices

35

NC2023 Enhancement of Human Capital
Utilization Efforts (Key Initiative 6)◼ We established the Global Human Resources Management Department in January 2022.
Moving forward, we will intensify our focus on the centralized management anddevelopment of global human resources.
◼ Promoted diversity (encouraging active participation from women and supporting
prosperous activity among the elderly).
◼ We continued to administer our employee engagement survey and observed increases inboth response rates and key ratings.

(People)1000

Number of overseas personnel in the trading divisionand people on overseas assignment
Trading division

693

737

People on overseas assignment

764

783

787

828

844

500

95
0

94

90

93

92

96

97
Employees at Inabata France

End-FY03/17 End-FY03/18 End-FY03/19 End-FY03/20 End-FY03/21 End-FY03/22 End-Sep. 2022

Note: The number of people on overseas assignment is as of the first day of the following month.

36
36

Progress in the Second Year of NC2022: (1) Information & Electronics(Billions of yen)
8.00

Operating profit
6.20

6.30
(Billions of yen)(forecast)

4.50
4.00

Operating profit
Operating profit
margin2.64
0.00
1H FY03/23(actual)(Billions of yen)
400.0

(forecast)

FY03/23(target)FY03/24(goal)

FY03/23
forecast

NC2023
Final year
goals
(FY03/24)

2.64

4.50

6.20

6.30

2.2%

2.0％

2.3％

2.2％

118.9

229.5

273.0

284.0

Sales

273.0

284.0

229.5
200.0

◼ Due to rapid deterioration in our surrounding businessenvironment, both sales and operating profit are on paceto fall short of their second-year targets.
◼ Sales of FPD-related materials were sluggish due tosignificant adjustments to production and inventory levels.
Meanwhile, OA-related and solar cell-related sales were
solid.

118.9
0.0
1H FY03/23(actual)Sales

1H FY03/23
actual

NC2023
Second year
targets(FY03/23)

FY03/23(target)FY03/24(goal)

37

Progress in the Second Year of NC2022: (2) Chemicals
Operating profit(Billions of yen)(forecast)
3.00
2.60

2.60
2.00

2.00

(Billions of yen)

Operating profit

1.00
1.40

Operating profit
margin0.00
1H
FY03/23(actual)

FY03/23(target)FY03/24(goal)Sales

1H FY03/23
actualFY03/23
forecast

NC2023
Second year
targets(FY03/23)

NC2023
Final year
goals
(FY03/24)

1.40

2.60

2.00

2.60

3.1%

2.9％

2.4％

2.2％

45.6

90.5

83.0

119.0

(Billions of yen)

150.0

Sales
119.0

(forecast)

100.0◼ Both sales and operating profit are on pace to exceed
their second-year targets.

90.5
83.0

◼ We observed strong performance stemming primarily
from resin materials, additives, raw materials forautomotive components, and housing construction
materials.

50.0
45.6
0.0
1H FY03/23(actual)

FY03/23(target)FY03/24(goal)

38

Progress in the Second Year of NC2023: (3) Life Industry(Billions of yen)
Operating profit(forecast)
3.00

2.60

2.30

2.50

2.00

1.00

FY03/23
forecast

NC2023
Second year
targets(FY03/23)

NC2023
Final year
goals
(FY03/24)(Billions of yen)

1H FY03/23
actualOperating profit

1.17

2.60

2.30

2.50

Operating profit
margin

5.4%

5.6％

4.9％

4.8％

Sales

21.5

46.5

47.0

52.0

1.17
0.00

1H FY03/23

FY03/23

FY03/24(actual)(target)(goal)(Billions of yen)

60.0

Sales
52.0

(forecast)

46.5

47.0

◼ Both sales and operating profit are on pace to slightly
outperform their second-year targets.

40.0

20.0
21.5
0.0

1H FY03/23

FY03/23

FY03/24(actual)(target)(goal)◼ With regard to the food product-related sales, we observed
strong performance from agricultural products despite
slowdown in demand for seafood products in the US. Salesof raw materials for pharmaceuticals, cosmetics, and daily
goods were also steady.

39

Progress in the Second Year of NC2023: (4) Plastics(Billions of yen)
Operating profit(forecast)

10.00

9.70

8.90

9.00

5.26
0.00

1H FY03/23

FY03/23

FY03/24(actual)(target)(goal)(Billions of yen)(forecast)

Sales

400.0

363.3
326.8

344.8

Operating profit

5.26

9.70

8.90

9.00

Operating profit
margin

2.8%

2.7％

2.7％

2.6％

Sales

187.1

363.3

326.8

344.8

◼ Both sales and operating profit are on pace to slightly
outperform their second-year targets.
◼ Thanks in part to growth in prices for plastics, performance
was generally favorable, particularly in the automotive, OArelated, and food product-related categories.

200.0
187.1
0.0

NC2023
Final year
goals
(FY03/24)(Billions of yen)

5.00

FY03/23
forecast

NC2023
Second year
targets(FY03/23)

1H FY03/23
actual1H FY03/23

FY03/23

FY03/24(actual)(target)(goal)

40

Net Sales and Operating Profit(Operating profit: Billions of yen)

(Net sales: Billions of yen)

1,200.0

Net sales

35.0

Operating profit

1,000.0 30.0

1,000.0(Goal)

800.0

25.0

680.9 730.0 20.5
20.0 19.5

20.0(Forecast)

800.0

561.1 572.1 577.0

600.0

14.0

469.0 464.4 479.9
410.7

12.6

10.9

400.0
7.9

7.6

586.6

621.1 634.7

10.7

600.3

577.5
14.9
15.0

13.2

11.3
10.0

7.7
5.9

5.5
200.0

5.0

0.0

0.0
Around 2030
IK Vision 2030
NC2016

NC2020

NC2023

Note: Inabata has adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) effective from FY03/22.

41

Sales by Segment(Billions of yen)

Information & Electronics

1,200.0

ChemicalsLife Industry

Plastics

Other

1,000.0
1,000.0(Goal)(Forecast)

800.0

800.0

730.0
621.1

634.7
0.1

0.1

600.0
286.9

680.9

300.0

600.3

0.1

270.3

248.8

0.2

0.1

577.5
0.1

344.8
316.2

363.3
52.0

400.0
38.2
78.6

46.5

224.5

247.7

229.5

FY03/21

FY03/22

FY03/23

42.3
76.7

39.0
77.5

36.9
74.1

37.3
66.6

214.9

217.9

218.6

FY03/18

FY03/19

FY03/20

0.2

119.0

90.5

200.0
284.0

0.0

NC2020FY03/24

Around 2030
IK Vision 2030

NC2023

Note: Inabata has adopted Accounting Standard for Revenue Recognition (ASBJ Statement No. 29) effective from FY03/22.

42

Operating Profit by Segment(Billions of yen)

Information & Electronics

ChemicalsLife Industry

Plastics

Other

27.50
(Goal)

22.50

20.05
0.12

17.50

19.50
0.10

14.97

14.03

13.22

0.13

0.13

8.67

20.50
0.10

9.00
9.70

0.13

12.50

5.63

5.96
7.50

(Forecast)

6.34

6.23

0.12
5.54

2.50
1.92
0.41
(2.04)
FY03/18

1.31
1.42

1.16
1.20

4.81

4.48

FY03/19

FY03/20

2.50

2.61
1.56
1.32

2.20

2.60
2.60

6.32

6.42

FY03/21

FY03/224.50
FY03/23-2.50
NC20202.60

6.30

FY03/24

Around 2030
IK Vision 2030

NC202343

Earnings per Share(Yen)

374.23400.00358.91300.00229.13211.36188.82200.00137.20151.91

156.25109.92100.00

0.00

（604）

（707）

（891）

（679）

（936）

（425）

（7,499） （1,478*）

FY03/15

FY03/16

FY03/17

FY03/18

FY03/19

FY03/20

FY03/21

FY03/22

FY03/23（actual）（actual）（actual）（actual）（actual）（actual）（actual）（actual）（forecast）

Note: Figures in parentheses at the bottom of the bar graph indicate own-share purchases conducted during the year
(in millions of yen).
* As of October 31, 2022

44

Company Overview (As of September 30, 2022)
Name

Inabata & Co., Ltd.

Fiscal year

April 1 to March 31

Founded

October 1, 1890

Exchange listing

Prime Market of the Tokyo
Stock Exchange

Incorporated

June 10, 1918

Ticker8098

Capital stock¥9,364 million

Trading unit

100 shares

Representative

Katsutaro Inabata, Director,
President

Shareholders

42,939Head offices

Employees

Osaka Head Office (1-15-14
Minami-semba, Chuo-ku, Osaka)
Tokyo Head Office (2-8-2
Nihonbashi-honcho, Chuo-ku,
Tokyo)*

Shareholder Composition
Individuals/others
Foreign investors
Securities companies

Financial institutions
Domestic corporations
Treasury stock

1.0%
1.3%

20.4%

699 (4,339 on consolidated basis)
33.6%

Issuable shares

200,000,000

Shares issued
and outstanding

57,714,127

Shareholders:
42,939(As of September
30, 2022

24.4%

19.3%

Note: We cancelled 600,000 shares of treasury stock on October 25, 2022, bringing our total number of shares issued and outstanding to 57,114,127.
*Due to the rebuilding the Tokyo Head Office Building, from December 19, 2022 to around September 2025, we will temporally relocate the Tokyo Head
Office and conduct business at the Muromachi Furukawa Mitsui Building (COREDO Muromachi 2), 2-3-1 Nihonbashi Muromachi, Chuo-ku, Tokyo.

45 IR-related inquiries:

IR Department, Financial Management Office
Inabata & Co., Ltd.
E-mail: inabata-ir@inabata.com

Cautionary note regarding forward-looking statements
The data and future predictions contained in this document are forward-looking statements, based on
information available and judgments applicable at the time of the document’s release. The data andforecasts contained herein may include elements that are subject to change. This document and its
contents are no guarantee of future performance.
Presentation of numerical figures
Figures in this document presented in millions and billions of yen have been rounded down.
Consequently, certain discrepancies may exist between individual values and total values, or values
showing changes between sets of data.