May 29, 2024

To Whom It May Concern
Company nameName of representative

Konishi Co., Ltd.
President and Representative Director
Hirofumi Matsubata(Securities Code: 4956 TSE Prime)

Inquiries

Director and Managing Executive Officer
Shinichi Okamoto(TEL: 06-6228-2877)

Notice of the Formulation of the “Medium-Term Management Plan 2027
(Fiscal Year Ending March 2025 to Fiscal Year Ending March 2027)”
Last fiscal year, we formulated and launched our “Medium-Term Management Plan 2026 (fiscal year ended
March 2024 to fiscal year ending March 2026),” but we achieved our operating profit target in the fiscal year
ended March 2024, the first fiscal year of the plan. In addition, as we repurchased more treasury stock as partof shareholder returns in the first fiscal year of the plan than we had planned for the three-year period in
total, we hereby announce that we have formulated a new three-year plan, “Medium-Term Management Plan
2027 (fiscal year ending March 2025 to fiscal year ending March 2027),” with the fiscal year ending March
31, 2025 as the first fiscal year of the plan.
Konishi started its business back in 1870 as a pharmaceutical trader. Following that, it expanded its businessto the sales of western liquors and industrial chemicals and transformed itself into a company dealing withchemistry while working to meet customer’s requests and the demands of the society, as observed in thedevelopment of the Bond synthetic adhesives in 1952. The current Konishi Group is engaged mainly in Bondbusiness as a manufacturer that makes and sells Bond synthetic adhesive, Chemicals business as a
specialized trading company handling chemical products that has inherited the wholesaling tradition fromour founding, and Construction business, which is aimed at the repair, renovation and reinforcement of thesocial infrastructure and building stock markets developed mainly by related companies.
Under the newly formulated “Medium-Term Management Plan 2027,” our Bond, Chemicals andConstruction businesses will promote the further strengthening of new business and their focus on growthareas, and aim for record-high net sales and operating profit.
In addition, we are planning our largest ever capital investments of about 15.0 billion yen in production,
logistics and DX, and will make invest in growth for further business expansion. With regard to capital policy,
we plan to repurchase about 5.0 billion yen of treasury stock aimed at continuing the strengthening ofshareholder returns and the improvement of capital efficiency.
For details of the “Medium-Term Management Plan 2027,” please refer to the attachment on the following pages.

Medium-Term
Management Plan 2027

May 29, 2024

Medium-Term Management Plan 2026 Review of Numerical Targets
The operating profit target of Medium-Term Management Plan 2026 was achieved in the first year of theplan, the fiscal year ending March 31, 2024 so we formulated Medium-Term Management Plan 2027.

Target for year ending
March 31, 2026
(Medium-Term
Management Plan 2026)
140.8 billion yen (+14.1%)

Net sales
Operating profit

9.7 billion yen (+30.9%)

EBITDA

12.9 billion yen (+34.5%)(Operating profit and depreciation andamortization of goodwill)(Depreciation and amortization of goodwill:

ROE

8.0 %

Capital expenditure15.0 billion yen

Shareholder return(Total dividends + total repurchase of treasury
shares)Result for the fiscal year
ended March 31, 2024
Net sales

132.9 billion yen

Operating profit

10.2 billion yen

EBITDA(Operating profit and depreciation andamortization of goodwill)12.3 billion yen(Depreciation and amortization of goodwill:

about 2.0 billion yen)

about 3.2 billion yen)

ROE
Capital expenditure(cumulative over 3 years)

12.0 billion yen(cumulative over 3 years)

Shareholder return(Total dividends + total repurchase of treasury
shares)9.4 %11.7 billion yen(cumulative over past 3 years)

12.6 billion yen(cumulative over past 3 years)

In the fiscal year ended March 31, 2024, ROE increased significantly due to a significant increase inprofits from improvement of sales prices in Bond business.

1

Numerical Targets of Medium-Term Management Plan 2027
Fiscal year ended
March 31, 2024

Fiscal year ending March 31, 2027
(Compared with fiscal year ended March 31, 2024)

Net sales

132.9 billion yen

Net sales

150.0 billion yen (+12.8%)

Operating profit

10.2 billion yen

Operating profit

11.5 billion yen (+12.0%)

EBITDA

12.3 billion yen(Operating profit and depreciation andamortization of goodwill)

ROE
Capital expenditure
Shareholder return(Total dividends + total repurchase oftreasury shares)(Depreciation and amortization of goodwill:

about 2.0 billion yen)

EBITDA(Operating profit and depreciation andamortization of goodwill)

14.5 billion yen (+17.0%)(Depreciation and amortization of goodwill: about 3.0 billion yen)

9.4 %

ROE

11.7 billion yen

Capital expenditure15.0 billion yen (cumulative over 3 years)

Shareholder return12.0 billion yen (cumulative over 3 years)(cumulative over past 3 years)

12.6 billion yen(cumulative over past 3 years)(Total dividends + total repurchase of treasury
shares)9.0 %Priority strategies
Bond

New development of the non-housingarea
Chemicals Strengthening of sales to automotive andelectronics/electrical industries
Construction Focus on construction work for aging
social infrastructure

We will aim for record highs for both net sales andoperating profit!
2

Business strategies - Bond business (manufacturing) - of Medium-Term
Management Plan 2027
[1] Promotion of the new development of industrial applications ~Strengthening of the non-housing area ~Net sales by application(Unit: billion yen)

71.6

・ Develop sealing materials and adhesives for the electronics, electrical and automotive
industries to develop new markets and increase market share.

80.8 (+12.8%)
4.3(+37.2%)

Wall Bond Industry
Co., Ltd.
(Group)

We will expand business areas and aim to increase
sales by 1.3 billion yen (2027.3).

3.1

10.8

(+12.3%)Sunrise Corporation

9.6

2.9

(+16.1%)

Konishi Civil Eng.
works

[2] Promotion of initiatives to extend the life of social infrastructure andbuilding stock
・Deepening of the repair market and promotion of the development of new products and new
construction methods for civil engineering construction and repairs
・Increase in market share of sealants for construction (from about 40% to 45%)

2.5

15.8

(+11.7%)

KonishiConstruction

4.0(+12.4%)

Konishi Adhesive
tapes

10.0

(+15.4%)

Konishi Industrial
material

14.2
3.6

8.7

(Group)Civil engineering: Sales increase of 0.4 billion yen (2027.3)
Sealing materials for construction: Sales increase of 1.1 billion
yen (2027.3)
Building repair materials, etc.: Sales increase of 0.5 billion yen(2027.3)[3] Further expansion of sales in housing-related fields, our existingcore industry

24.7(+11.3%)6.6

7.3(+10.4%)2024.32024.32027.32027.3

22.2

Konishi Housing
relatedKonishi Consumer

・Aiming to increase market share of adhesives for glued laminated wood, tiles, etc., in theindustry.
・Sunrise Corporation
Expansion of sales of sealing materials for housing
・Wall Bond Industry Co., Ltd.
Expansion of sales of adhesives for wallcoverings

Housing-related: Sales increase of 4.6 billion yen (2027.3)
Including Sunrise residential (+0.9 billion yen), Wall Bond Industry(+1.2 billion yen)3

Business strategies - Chemicals business (trading business)- of Medium-Term Management Plan 2027

Net sales of this segment are presented before the application ofrevenue recognition because of the significant impact of theapplication of the revenue recognition standards.

Net sales by industry(*Net sales after the application of revenue recognition)[42.6][+8.5%][1] Strengthening of sales to focus areas

77.5 (+15.7%)[39.3]

67.0
14.9
3.4

4.0

18.0

(+20.4%)

0.8
3.3
4.5

(-1.1%)(+12.7%)

9.4(+22.5%)9.4(+15.5%)

7.7
8.1

27.5

30.0

2024.32024.32027.32027.3(+ 8.9%)Maruyasu & Co., Ltd.
(Group)Internally developed
products
OthersKonishi painting
material
Konishi electric andelectronics

Konishi chemical
products

Konishi automotive

・ Promotion of new development and deep cultivation in the automotive
and electronic and electrical industries◇ Expansion of sales of new products for HVs and EVs, and heatdissipation materials◇ Strengthening of sales of semiconductor-related products◇ Maruyasu: Expansion of sales of capacitor products
For the automotive and electronic and electrical industries:
Sales increase of 6.6 billion yen (2027.3)
Including Maruyasu for electronics and electric (+2.4 billion yen)

[2] We will shift to “trading company with manufacturer function”
・ Launch and expansion of sales of internally-developed products◇ Development of high hear-resistant and heat-dissipating type resinmaterials for the automotive and electronic and electrical industries◇ Development of paint and coating materials
The company will aim for an increase in sales of 0.8 billion
yen (2027.3) with internally developed products through thepromotion of internal development and market introductions.

(Unit: billion yen)4

Business strategies - Construction business (construction) - of MediumTerm Management Plan 2027
Net sales by affiliates(Unit: billion yen)

21.8
1.7

4.7
1.5
1.7

12.7

27.1 (+24.2%)
2.0(+16.5%) Chushin Construction

5.6(+18.4%) Kakumaru Kensetsu

1.8
2.0

15.7

Kinki Reinforced(+16.4%) Concrete(+17.9%) Konishi Koei

[1] Expansion of business in the repair market(civil engineering repair fields)◇It is forecast that about 55% of bridges will be at least 50 years old in 2030.
・ Centered on Bond Engineering Co., Ltd., the company will focus on
construction to address aging social infrastructure for the further expansionof business.

[2] Building of a system aimed at the expansion of businessscale
・ We will focus on the strengthening of recruitment of qualified
personnel such as civil engineering construction management
engineers.
・ We will promote the acquisition of qualifications throughinternal development.

(+23.4%) Bond Engineering[3] Expand business by M&A
・ In social infrastructure repair, renovation and reinforcement business, we will promote M&A
that can demonstrate synergistic effects in the bridge sector, where repair demand is
expected in particular

Fiscal year ended March 31,
2024.32024

Fiscal year ending March 31,
2027.3
2027

Results for M&A
2013: Kinki Reinforced Concrete Co., Ltd.: Top slab work for bridges, etc.
2017: Kakumaru Kensetsu Co., Ltd.: Civil engineering and construction
2020：Izumi Corporation (absorbed by Kakumaru Kensetsu)
2020: Sansho Construction Incorporated (absorbed by Bond Engineering)2023: Chushin Construction Co., Ltd.: Civil engineering and construction5Medium-Term Management Plan
2027 Capital Policy

6Mid-term Management Plan 2026 Review of Capital Policy(i) Repurchase of treasury shares○ Under the capital policy of Medium-Term Management Plan 2026, we planned toacquire 6.0 billion yen of treasury stock over the three-year period from April 2023
to March 2026 as part of shareholder returns.
The acquisition of treasury stock in the fiscal year ended March 31, 2024, the firstyear of the policy, was as follows.
(1) Total number of shares repurchased
5,704,100 shares*(2) Total purchase price for repurchase of shares About 6.7 billion yen(3) Method of acquisition
ToSTNeT-3 and open
market purchase(ii) Cancellation of treasury shares(1) Total number of shares cancelled(2) Cancellation date

Medium-Term
Management Plan 2026

[Medium-Term Management Plan 2026 disclosed
on May 26, 2023]* Number of shares after stock split adjustment

11,000,000 shares*(13.5% of the total number of outstanding shares before cancellation)
October 13, 2023
* Number of shares after stock split adjustment(iii) Implementation of stock split○ The Board of Directors resolved to implement a stock split for the purpose of expanding investor base andimproving stock liquidity (November 21, 2023)(1) Method of stock split
2-for-1 stock split(2) Record date
December 31, 2023
(3) Effective date
January 1, 2024

7

Medium-Term Management Plan 2027 Fund allocation plan
In addition to the capital expenditure required for growth, we will implement shareholder returns
through stable dividends Fundand therepurchaseof treasury
shares.
allocationplan(3 years)
Cash out

Cash in

Capital expenditure
About 15.0 billion yen

Growth investments aimed atbusiness expansion andgreater efficiency
Production

Logistics

DX (core systems)

Operating cash flow
30.0
billion yen
About

Shareholder return
About 12.0 billion yen

Repurchase of treasury shares
About 5.0 billion yen
Dividends about 7.0 billion yen
Dividend payout ratio 30%

Future growthinvestment quota
About 3.0 billion yen

Strengthening of the financial basefor future growth investments
Promotion of rationalization in
the medium to long-term* We plan to use cash on hand to finance M&A.
* We repurchased about 6.7 billion yen of treasury stock in the fiscal year ended March 31, 2024.
* In principle, the company is planning to cancel the repurchased treasury shares.
* This is an illustration of fund allocation over three years and does not include the impact of changes in working capital.

8

Capital expenditure of Medium-Term Management Plan 2027
~ We will implement our largest ever capital expenditurecontinuously ~We will promote production rationalization and DX

About 15.0 billion yen
cumulatively over 3 years(* Including capital expenditure other than thatshown below)[1] Strengthening of production and logistics systems○ Construction of a new manufacturing plant and logistics warehouse at Konishi Tochigi Plant (scheduled
to start in April 2025)

・BCP measures through conversion to a two site system for water-based adhesive (currently only Shiga
Factory) and improvement of product supply efficiency for eastern Japan・Introduction of automatic systems for production, filling packages, in stock & outgoing (cost reductions throughlabor saving)○ Promotion of the rationalization of production at Konishi Shiga Factory
・We will review production processes and equipment to improve production efficiency (increased production
volume, cost reductions)○ Expansion and upgrading of sealant production facilities at Sunrise (scheduled to start operation at any timeby April 2026)
・Introduction of production equipment and expansion of existing equipment (improvement of production

About 10.5
billion yen

efficiency and cost reductions through labor saving)○ Construction of a new distribution warehouse for Wall Bond Industry Co., Ltd. (scheduled to be in operationin July 2025)

・Introduction of automatic systems for in stock (cost reductions through labor saving)[2] Promotion of DX○ Introduction of new core system (scheduled for introduction in April 2025)
・ Introduction of an efficient, rational system in consideration of current issues and the business environment

About 1.5
billion yen

9Dividend Policy
The company’s policy is to pay continuous and stable dividends maintaining a consolidated dividend
payout ratio of 30% or more, while taking into account the results of each fiscal year.

Dividend
policy[Annual dividends per share and consolidated payout ratio]
28.5

29.1

30.3

30.5

30.0

30.0

30.0

2026.32027.3(Unit: Yen)

40
20.4

35
30

19.5

20.4

20.1

20.6

21.4

Note 4:

17.4

17.9

17.2

33

15.8

33

25
20
15

6

2011.32012.3

7

7.5

7.5

2013.32014.32015.312

13

13

2018.32019.322

Note 2:

Stock split

6

10

Stock split

10
5

18

Note 1:20

24.5 Note 3:0
2016.32017.32020.32021.32022.32023.32024.32025.3(Forecast) (Forecast)
Note 1) We implemented a 2-for-1 stock split as of 1st April, 2016. Annual dividends per share before FY March 2016 are stated after adjustments of the stock split.
Note 2) We implemented a 2-for-1 stock split as of 1st January, 2024. Annual dividends per share before December 31, 2024 are stated after adjustments of the stock split.
Note 3) Includes a commemorative dividend of 5 yen for the 70th anniversary of the launch of Bond
Note 4) The amount of the dividend is determined by excluding a gain on the sale of property amounting to 4,989 million yen (after tax), which is not directly related to business activities. The dividend
payout ratio after deducting this impact is 34.6%.

10

Disclaimer
Forecasts and other statements are based on information currently available to the company andcertain assumptions that the company considers reasonable. This material is not intended as asolicitation to invest. Investment decisions should be made at the user’s own discretion.

<IR Contact>
Corporate Planning department,
Konishi Co., Ltd.
TEL:06-6228-2877
E-mail:konishi-ir@bond.co.jp