November 5, 2021
MITSUBISHI GAS CHEMICAL COMPANY, INC.

Revision of Business Performance Forecasts
In view of its recent performance, Mitsubishi Gas Chemical Company, Inc. (MGC) has revised the businessperformance forecasts published on August 6, 2021.
1. Revision of full-year consolidated performance forecasts for the fiscal year ending March 2022 (April 1, 2021March 31, 2022)(1) Consolidated business forecasts(In millions of yen)
Net income

Net sales

Operating

Ordinary

attributable

Net income

incomeincometo owners ofper share (¥)

the parent
Previous forecast (A)660,000

50,00061,00045,000

216.31

Revised forecast (B)690,000

53,00068,00050,000240.34

Change (B - A)

30,000

3,000

7,000

5,000

Change (%)

4.5

6.0

11.5

11.1

595,718

44,51050,24036,070Results for the previous year
(ending March 2021)(2) Non-consolidated business forecasts
Net sales

173.41(In millions of yen)
Operating

Ordinary

incomeincomeNet income

Net income
per share (¥)

Previous forecast (A)400,000

30,00039,00030,000144.20

Revised forecast (B)420,000

31,00040,00031,000149.01

Change (B - A)

20,000

1,000

1,000

1,000

Change (%)

5.0%3.3%

2.6%

3.3%

344,898

19,101

26,44323,966

Results for the previous year
(ending March 2021)

1115.22

2.

Reasons for Revisions

With regard to consolidated operating results forecasts, the MGC Group now expects that net sales and operating
income will exceed the previous full-year forecasts, even after accounting for the impact of higher raw material andfuel prices, as well as lower than previously estimated sales volumes of optical polymers. This projection is primarily
based on greater-than-expected first-half operating results for the Basic Chemicals and other businesses, as well as
the favorable foreign exchange trend toward yen depreciation. As for optical polymers, demand has bottomed out
due to the impact of inventory adjustments undertaken by customers in the first half and has currently returned to arecovery track. However, in light of economic deceleration in China and fallout from semiconductor shortages, thepace of demand recovery will likely remain less robust than previously estimated. On the other hand, ordinary incomeand net income attributable to owners of the parent are expected to surpass the previous forecasts due to expected
growth in equity in earnings of affiliates, supported by upturns in methanol market prices, in addition to operating
income that is expected to exceed the previous forecast.
With regard to non-consolidated operating forecasts, the MGC Group similarly believes that net sales, as well as
each profit indicator, will exceed the previous forecasts due to the factors discussed above.
The above forecasts assume exchange rates of ¥113=$1 (a depreciation of ¥5 from the previous forecast) and ¥130=€1 (unchanged from the previous forecast) for the remaining months of the fiscal year.
Note: The above forecasts are based on information currently available to MGC as of the date of the announcementof this document. Actual operating results may vary due to various factors.
END

Investor Relations Department MITSUBISHI GAS CHEMICAL COMPANY, INC.
TEL: +81-3-3283-5041 https://www.mgc.co.jp/eng/2