February 9, 2022
To Whom It May Concern:
Company Name: NAGASE & CO., LTD.
Representative: Kenji Asakura,
Representative Director,President
Stock Exchange Listings:
Tokyo (First Sections) Code 8012
Contact:
Yoshihisa Shimizu,
Executive Officer,
General Manager,
Corporate Management Dept.
Tel: +81-3-3665-3103

Notice Concerning Revision of Consolidated Earnings Forecasts and Dividend Forecast
for the Fiscal Year Ending March 31, 2022
NAGASE & CO., LTD. (hereinafter referred to as “NAGASE”) hereby announce that its Board ofDirectors has resolved at a meeting held on February 9, 2022 to revise the consolidated earnings
forecasts and dividend forecasts for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31,2022), which were announced on August 4, 2021, considering recent business trends.
1. Contents of the revision of Consolidated Earnings Forecasts(1) Revision of consolidated financial forecast for the fiscal year ending March 31, 2022
(April 1, 2021 to March 31, 2022)
Gross profit

OperatingincomeOrdinary
income(millions of yen)(millions of yen)(millions of yen)

138,000

35,0008,000

Previous forecasts（A）
Revised forecasts（B）Difference（B－A）
Increase/decrease（％）
Results for the fiscal
year ended March
31, 2021(for reference)

130,000

30,00031,000

Profitattributable to Earnings perowners of theshareparent(millions of yen)

(yen)

22,500185.0536,50025,000205.73

5,000

5,500

2,500

6.2%

16.7%

17.7%

11.1%

114,600

21,91622,854

18,829151.91(2) Reason for the revisionDuring the cumulative consolidated third quarter of the current fiscal year, the global economy saw agrowing number of regions including japan in which economic activities recovered, despite someregional variance, due to the progress in COVID-19 vaccinations. In this environment, the automobilerelated business recovered more than previously forecasted, and the profitability of the resin businessimproved due to soaring market prices. In addition, the electronics-related business, centering on
mobile devices, displays, and semiconductors, remained strong against the backdrop of increased
demand for digital devices due to changes in lifestyles, and has remained at a level higher thanpreviously announced forecast.
In the fourth quarter of the current fiscal year, NAGASE expects a decline in profitability in the resin
business and an increase in general and administrative expenses due to strong business performance,
but NAGASE has decided to revise our full-year consolidated earnings forecasts upward. Because
NAGASE expects the overall business to remain strong and generate a certain level of profit.
As a result, NAGASE expects each of our profit to reach a record high.
For these forecasts, NAGASE changed our assumed foreign exchange rates from ¥109.5 to ¥111.9 tothe U.S. dollar and from ¥16.9 to ¥17.4 to the RMB.
The full-year consolidated earnings forecasts for each segment are as follows.

Functional
Materials
Advanced
Materials &Processing
Electronics& Energy

MobilityLife &Healthcare
Others/Corporate

Gross profit

Previous
forecasts（A）

Revisedforecasts（B）(millions of yen)(millions of yen)

17,70019,500

Increase/
Difference
decrease（B-A）（％）(millions ofyen)

10.2%

1,800

Results for the
fiscal year ended
March 31, 2021
(for reference)(millions of yen)

15,562

Operatingincome

6,600

7,800

1,200

18.2%

4,712

Gross profit

29,50031,9002,400

8.1%26,816

Operatingincome9,600

10,8001,20012.5%

7,311

Gross profit

27,40029,8002,4008.8%

25,581

Operatingincome

8,800

10,0001,20013.6%

8,408

Gross profit

11,20012,400

1,200

10.7%

8,983

Operatingincome

3,400

4,100

700

20.6%

1,851

Gross profit

43,70043,900200

0.5%37,471

Operatingincome

9,300

9,300

－－

6,512

Gross profit

500

500

－－

184

Operating(7,700)(7,000)－(6,879)700
income*Effective from the current fiscal year, NAGASE has changed the method of classifying its businesssegments, and the figures for the previous fiscal year have been reclassified to reflect this change.

2. Contents of the revision of Dividend Forecast(1) Revision of Dividend Forecast (April 1, 2021 to March 31, 2022)

Cash dividend per share(yen)Year-end

Total

Previous forecasts

2448

Revised forecasts(Ordinary dividends 24）(Special dividends6）(Ordinary dividends 48）(Special dividends 6）

2446

Interim

30

Results for FY2021

24

Results for FY2020

2254(2) Reason for the revision
NAGASE will pay dividends based on consolidated cash flow and investment status, with a basic policyof continuously increasing dividends in consideration of consolidated performance and financial
structure, while improving profitability and strengthening the corporate structure.
Based on the above basic policy, NAGASE had planned to increase the annual dividend by 2 yen per
share for the current fiscal year. However, as mentioned above, each profit is expected to reach a newrecord high, and after considering our financial condition and other factors, NAGASE has decided torevise the year-end dividend forecast for the fiscal year ending March 31, 2022 to 30 yen per share,adding a special dividend of 6 yen per share to the previously planned ordinary dividend of 24 yen pershare.
As a result, the annual dividend for the fiscal year ending March 31, 2022, including the interim
dividend, is expected to be 54 yen per share.
*The above forecasts are based on information currently available to NAGASE and certain assumptions
that NAGASE considers reasonable.