Editorial Policy

Management
Philosophy

Readership

Period Covered

This Integrated Report has been compiled with the following stakeholders in
mind: shareholders and investors, customers, business partners, employees
and their families, students and job applicants, and members of local
communities and society.

In general, this Integrated Report includes the results for FY2022 (April1, 2022 to March 31, 2023). However, some information regarding past
initiatives, as well as some information for FY2023 are also included, asnecessary. The figures for FY2023 (forecast) in the table and graph areincluded in the external announcement made on May 8, 2023.

Our Stance on Information DisclosureThis Integrated Report emphasizes the Toho Titanium Group's approach toand strategy for value creation in the form of stories, and is positioned as acommunication tool to help our stakeholders understand our growth potential
and our contribution to a sustainable society.
For detailed performance information and ESG-related data, please referto the latest information on the "Investor Relations" and "Sustainability" pagesof our website, as well as the Integrated Report.

The Toho Titanium Group pursues
the infinite possibility of titanium andrelated technologies, and contributes
to building a sustainable society bycontinuously supplying excellent
products and services.

Scope of Coverage
In principle, all domestic and overseas business sites of the Toho Titanium
Group are covered.
Toho Titanium Co., Ltd.:	Headquarters, Chigasaki Plant, Hitachi Plant,
Kurobe Plant, Wakamatsu Plant, and Yahata Plant
Group Companies: T oho Technical Service Co., Ltd.
Toho Material Co., Ltd.
Toho Titanium Europe Co., Ltd. (UK)

Data/Initiatives
Financialresults
briefingmaterials
Earnings
summary,financial
statement,etc.

Toho Titanium America Co., Ltd. (US)

Sustainability
websiteIR website

Future Outlook

Mutual linkage

The information published in this Integrated Report may include thecompany's future strategies, forecasts, and opinions. However, please beaware that actual results may differ from these forecasts due to external
factors such as various environmental changes at the time.

Integrated Report
Approach / Strategy

Note:
Disclosure Policy and Disclaimer

Non-financial Information

Financial Information(Information on economic value)

www.toho-titanium.co.jp/en/ir/disclosure/(Information on social value)

Process of Deepening Dialogue Using Integrated Reports
Through this report, we will enhance our dialogue with stakeholders and continue to discuss how our Group should disclose information in order to improve our corporate value.

Fundamental Code of Conduct

1) Establishing the purposeof this publication· In preparing the Integrated Report 2023, we endeavored to provide more comprehensive information about how our company creates value, thebusiness environment in which we operate, and our initiatives.

2) Reference to guidelines· IFRS Foundation "International Integrated Reporting Framework"· Ministry of Economy, Trade and Industry "Guidance for Collaborative Value Creation"

To put our Management Philosophy into practice, we adhere to the following three Fundamental Policies.
1. We give the highest priority
to safety and compliance andoperate a healthy and fairbusiness.

2. We practice innovation andcreativity to achieve continuous
growth for our employees andorganization.

3. We enhance communication
with all stakeholders including
customers, local communities,
and shareholders, to develop
relationships of mutual trustand symbiosis.

· The Corporate Planning Department was in charge of publication development. The report was edited by the ESG Promotion Department,
Technology Strategy Headquarters, each Business Division, Environment and Safety Department, Quality Assurance Department, General Affairs
and Human Resources Department, and other related departments.
· It was produced with the corporate management's commitment while under the supervision and evaluation of the board of directors.
3) Editorial system
Management(Board ofDirectors)

CONTENTS

4) Dialogue withstakeholders

Collaboration Department

Chief Editor Department
Corporate PlanningDepartment

Linkage

ESG Promotion Department, Technology Strategy Headquarters
Each Business Division, Environment and Safety Department
Quality Assurance Department, General Affairs and HumanResources Department, and other departments· When communicating with shareholders and investors, we will augment the content of our dialogue by using this report in conjunction withbriefing sessions and IR interviews.
· We will use the opinions we receive from our stakeholders as internal feedback and use them for improving management.
· We place great importance on dialogue with our employees and strive to improve the accuracy of the contents of the report.

INTRODUCTIONVISIONVALUE

STRATEGY

FOUNDATIONDATA

01

03

09

The Toho Titanium Value
Creation Process

13

Rebuilding "Vision for 2030"

29

Promotion ofESG Management

45

Key Consolidated Financial
and Non-Financial Summary

11

Accelerating Value Creation

15

FY2023-2025

31

Stakeholder Engagement

47

Corporate Information

17

Titanium-related Technologies

33

E: Environment

23

Special Feature

37

S: Society

42

G: GovernanceManagement Philosophy /Editorial Policy

Message fromthe President andRepresentative Director

Toho Titanium’sManagement Resources

Beyond Expectations! "BE2030"
Medium-term Management Plan

Social Value Created by Toho Titanium's
Technological Capabilities

Achieving a Carbon-neutral Society
with the Power of WEBTi Materials

2501

Report/Evaluation

I N T E G R AT E D R E P O R T 2 0 2 3

Technologies that Contribute toSustainability
I N T E G R AT E D R E P O R T 2 0 2 302