Press Release

Notice of Revision of Financial Results Forecastfor the 1H and Full Year for the year ended December 31, 2021 [JGAAP]
July 29, 2021
Listed exchanges: Tokyo

Listed company name: Earth Corporation

Code: 4985

URL

: https://corp.earth.jp/en/index.html

Representative Director: Katsunori Kawabata, President & Representative Director

Contact: Tsuyoshi Mitsuzuka ,Senior Executive Officer
Director General
Group Management Headquarters

Tel: +81-3-5207-7458

Earth Corporation (“the Company”) has revised its forecast of financial results announced on February 10,2021 as follows
Revision of forecast of the consolidated financial results for the 1st Half for the year ended December 31, 2021
(millions of yen)
Net Sales

OperatingNet IncomeIncome

Net Income perShare(yen)Forecast previously announced (A)113,600

16,10010,950496.54

Revised forecast (B)115,800

18,56012,750577.99Change (B-A)

2,200

2,460

1,800

-

Rate of change (%)

+1.9

+15.3

+16.4

-

110,634

16,024

10,949540.99(Ref.) Results for the 1st Half for year
ended December 31,2020

Revision of forecast of the consolidated financial results for the year ended December 31, 2021
(millions of yen)
Net Sales

Operating

Net Income

IncomeNet Income perShare(yen)Forecast previously announced (A)200,000

11,0007,000

317.43

Revised forecast (B)201,500

12,0007,700

348.97

Change (B-A)

1,500

1,000

700

-

Rate of change (%)

+0.8

+9.1

+10.0-

196,045

11,416

3,547

170.65(Ref.) Results for the year ended
December 31,2020

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Revision of forecast of the Non-consolidated financial results for the 1st Half for the year ended December 31, 2021
(millions of yen)
Net Sales

Operating

Net Income

Net Income per

IncomeShare(yen)----78,32015,79011,440518.47

Change (B-A)----

Rate of change (%)----

75,442

14,792

10,696528.50

Forecast previously announced (A)Revised forecast (B)(Ref.) Results for the 1st Half for year
ended December 31,2020

Revision of forecast of the Non-consolidated financial results for the year ended December 31, 2021
(millions of yen)
Net Sales

OperatingNet Income

Net Income per

IncomeShare(yen)----126,900

9,200

6,850

310.45

Change (B-A)----

Rate of change (%)----124,249

9,681

345

16.60

Forecast previously announced (A)Revised forecast (B)(Ref.) Results for the year ended
December 31,2020

Reasons for Revision
Against the backdrop of changes in lifestyles due to the impact of the COVID-19, demand for insecticides,
a major source of revenue for the Group, remained high, and sales of daily necessities that add comfort todaily life, such as bath additives, exceeded expectations as of the 1st half of the current fiscal year. As aresult of these efforts, gross profit was higher than planned, and SG&A expenses were managed
appropriately within the scope of the plan, including efforts to improve the efficiency of advertising andsales promotion expenses. As a result, the Group's consolidated and non-consolidated net sales andprofits are expected to exceed the initial plan as of the 1st half.
Based on the situation up to the 1st half, and taking into consideration the trend of shipments and returnsof insecticides caused by the weather conditions in the 2nd half of the year, the Company has also revised
upward its full-year forecasts. There is no change in the dividend forecast from the amount announced onFebruary 10, 2021 (115 yen per share).
Note: The above forecast of financial results is based on certain information available to the Company atthe time of announcement, and actual operating results may differ from the forecast due to variousfactors.

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