Business Results for
3Q(Nine months) of FYE 3/2023
February 10th, 2023
STELLA CHEMIFA CORPORATION
Securities code: 4109

Index【Business Results】【Reference Material】（Corporate Profile ・ Introduction of Our Business）

・Performance Highlights

P. 3

・Corporate Profile

P. 18

・Financial Summary

P. 4－11・Subsidiaries & Associates

P. 19

・Financial Forecast

P. 12－15

・Introduction of Our Business

P. 20-38

・Shareholder Return

P. 16

2

Performance Highlights[3Q (Nine months) of FYE 3/2023 Results]
 Sales volume of Semiconductors is about the same level as the same period last year.
 The price of anhydrous hydrofluoric acid(AHF), a key raw material, soared year on year.
 Recording impairment loss as to the equipment for additives used for lithium-ion secondary
batteries to increase capacity on Energy department.

[Full-year Forecast] The full-year forecast has been revised due to factors including a slowdown of
semiconductor market, price of anhydrous hydrofluoric acid(AHF) remaining high andrecording impairment loss.

3

Financial Summary
3Q(Nine months)of FYE 3/2023

Increase/
Decrease

Percentage
Increase/
Decrease

27,12428,2701,145

4.2

Gross Profit

6,717

6,017

－699

－10.4

Operating Profit

3,520

3,068

－452

－12.8

Ordinary Profit

3,936

3,750

－186

－4.7

Quarterly Profit Attributable to
Owners of Parent

3,159

1,658

－1,500－47.5

Earnings Per Share (yen)248.02134.42－113.60

Capital Expenditures

1,979

3,523

1,544

78.1

Depreciation & Amortization

2,012

1,922

－90

－4.5

534

381

－152

－28.6

(million yen)
Sales Revenue

Research & Development Expenses

3Q(Nine months)of FYE 3/2022

4

Sales Revenue and Operating Profit
by Business Segment
Sales Revenue(million yen)
High-Purity
ChemicalBusiness
Transportation
Business
MedicalBusiness

Other

Eliminations
and Corporate

Total

Operating Profit
Increase/
Decrease

Increase/
DecreaseAmount％3Q(Nine months)of FYE 3/2022

24,700

1,300

5.6

3,658

2,619

－1,039

－28.4

3,515

3,453

－62

－1.8

606

441

－164

－27.2

84

-

－84

-

－511

-

511

-

124

116

－7

－6.3

13

16

3

25.8

-

-

-

-

－246

－8

238

-

27,12428,270

1,145

4.2

3,520

3,068

－452

－12.8

3Q
(Nine months)of FYE 3/2022

3Q(Nine months)of FYE 3/2023

23,3993Q(Nine months)of FYE 3/2023

Amount％5

Sales Revenue of High-Purity
Chemical Business (Breakdown)(million yen)

3Q
(Nine months)of FYE 3/2022

3Q(Nine months)of FYE 3/2023

Increase/
Decrease

Percentage
Increase/
Decrease

Sales Revenue Constituent Ratio
Of High-Purity Chemicals

Purchased Goods
19%

Semiconductors

13,272

14,729

1,456

11.0

Industrial
Hydrofluoric Acid

Sales Revenue
24.7 billion Yen（Abroad 57.9%）

7%

1,882

Energy856－1,025－54.5

General Products

8%Electronic Materials

947

796

－150

－15.9

Electronic
Materials
3%

General Products

1,669

2,002

332

EnergySemiconductors

3%

60%

19.9
Semiconductors Shipping Ratio by Country

Industrial
Hydrofluoric Acid

2,927

1,621

－1,305－44.6

Purchased Goods

2,700

4,694

1,993

73.8

23,39924,700

1,300

5.6

Total

100%

Other
Singapore
TaiwanSouth Korea
3Q(Nine months)

3Q(Nine months)of FYE 3/2022

of FYE 3/2023

Japan

6

Analysis of Operating Profit（Year on year）
Including decreased shipments ofEnergy Business (－)(million yen)
Higher raw material prices (－)
Higher selling prices (+)

Impact ofdeconsolidation of
Medical Business (+)

3,520
3,068

High-Purity Chemical Business -1,039

7

Change of Quarterly Operating Profit(million yen)
1,400

1,116

1,200
1,000

884

1,179

1,291

1,156

1,291
1,072 1,062

953

902

823

800
600
400
200
0

FYE 3/2021

FYE 3/2022

FYE 3/2023

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

Sales
Revenue

8,222

8,389

8,315

7,965

8,896

9,212

9,015

10,171

9,764

9,854

8,651

Operating
Profit

884

902

1,116

1,179

1,291

1,156

1,072

1,062

1,291

953

823

10.8%

10.8%

13.4%

14.8%

14.5%

12.5%

11.9%

10.4%

13.2%

9.7%

9.5%

Operating
Profit Margin

4Q

8Transitions in Trade Statistics Value ofAnhydrous Hydrofluoric Acid(AHF)( yen/kg )(Note) Different from our purchase prices. Only for reference regarding price fluctuations.

300

250

200

150

100
1Q

(yen/kg)
Average
Price

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

220

186

168

225

277

Source: Prepared by our company based on the Ministry of Finance’s “Trade Statistics of Japan” (http://www.customs.go.jp/toukei/info/)9

Change of Shipping Volume of High-Purity
Hydrofluoric Acid (Semiconductors)(t)
100,000

Full-year 94,100

90,00080,00070,000

2nd Half 48,400

Full-year 69,300

Full-year 71,100

60,000

2nd Half 32,700

50,000

2nd Half 35,700

Full-year 75,100

2nd Half 38,400

Total 3Q 56,300
3Q(Three months)
19,10040,00030,00020,000

1st Half 45,700

1st Half 36,600

1st Half 35,400

1st Half 36,700

1st Half 37,200

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

10,0000

FYE 3/201910

Balance Sheet
Dec.31,2022

Increase/
Decrease

Percentage
Increase/
Decrease

56,59854,913－1,684－3.0

15,895

14,754－1,141－7.2

Operating receivables

8,642

8,550

－92

－1.1

Inventory assets

5,271

5,219

－51

－1.0

21,667

21,644

－23

－0.1

375

293

－81

－21.7

13,86911,993－1,876－13.5

Operating liabilities

3,522

3,653

131

3.7

Interest-bearing liabilities

5,594

4,530

－1,063－19.0

Net Assets

42,72842,920192

0.5

Equity capital

42,17042,603432

1.0Liabilities and Net Assets

56,59854,913－1,684－3.0

FYE 3/2022
End-of-Year

AssetsCash and deposits(million yen)

Property, plant, and equipment

Intangible assets
Liabilities

11Financial Forecast＊Released on Feb.10.2023
FYE 3/2023
Initial Forecast

FYE 3/2023
Revised Forecast*

Increase/
Decrease

Percentage
Increase/
Decrease

FYE 3/2022
ActualSales Revenue

37,50035,600－1,900－5.1

37,296

Operating Profit

4,600

3,750

－850

－18.5

4,583

Ordinary Profit

5,800

4,300

－1,500

－25.9

5,707

Profit Attributable to Owners of
Parent

4,200

2,000

－2,200

－52.4

5,364

335.63163.13－172.50422.97

Dividend (yen)

60

60

-

60

ROE (%)

9.6

4.7

－4.9

13.7

Capital Expenditures

4,900

5,000

100

2.0

2,648

Depreciation & Amortization

2,500

2,550

50

2.0

2,713

600

600

-

-

744

(million yen)

Earnings Per Share (yen)Research & Development
Expenses12

Forecast on Sales Revenue andOperating Profit by Business Segment
Sales Revenue(million yen)
High-Purity
ChemicalBusiness
Transportation
Business
MedicalBusiness
Other
Eliminations
and Corporate

Total

FYE 3/2023
InitialForecast＊Released on Feb.10.2023

Operating Profit

FYE 3/2023 Percentage
RevisedIncrease/
Forecast*
Decrease

FYE 3/2022
ActualFYE 3/2023
InitialForecast

FYE 3/2023 Percentage
RevisedIncrease/
Forecast*
Decrease

FYE 3/2022
Actual

32,93030,840－6.3

32,330

3,990

3,150

－21.1

4,776

4,370

4,600

5.3

4,676

570

580

1.8

764

-

-

-

100

-

-

-

－729

200

160

－20.0

189

30

30

-

20

-

-

-

-

10

－10

－200.0－248

37,50035,600－5.1

37,296

4,600

3,750

－18.5

4,583
13

Change in Classification ofHigh-Purity Chemical BusinessIn the High-Purity Chemical Business, we have used nine categories for presentation. However, in light of the current
business strategy and business scale, we will change the number of categories to six as shown in the following table fromthe fiscal year ending March 2023.
New categories in High-Purity Chemical Business (from the fiscal year ending March 2023)
New categories (six)Semiconductors
EnergyElectronic Materials

General Products

Industrial Hydrofluoric Acid

Purchased Goods

New categories in detail(Reference)
Old categories

High-purity Hydrofluoric Acid for
Semiconductors/LCDs

Semiconductors/
LCDs

Fluoride materials for batteries

Batteries

Enriched Boron

General Products

Fluoride materials for raw materials used
for semiconductor devices/capacitors

Semiconductor
Devices

R&D Products(Phosphor materials etc)

General Products

Fluoride materials for catalysts

Catalysts

Fluoride materials for toothpaste(Tin Fluoride）

General Products

Other Fluoride materials

General Products

Hydrofluoric Acid for surface treatment

Surface
Treatment

Anhydrous Hydrofluoric Acid foralternatives for CFCs

Alternatives for
CFCs

GypsumGypsumAnhydrous Hydrofluoric Acid foralternatives for CFCs(Purchase & Sale)

Alternatives for
CFCs

Purchased Goods

Other

14

Revised Forecast Sales Revenue*Released on Feb.10.2023

Constituent Ratio
FYE3/2023
InitialForecast

FYE3/2023
Revised
Forecast*

Increase/
Decrease

Percentage
Increase/
Decrease

FYE3/2022
Actual(million yen)
Semiconductorsof High-Purity Chemicals
Purchased Goods
17%
Industrial
Hydrofluoric Acid

19,57019,170－400－2.0

17,859

6%
GeneralProducts
8%Energy

1,500

1,040

－460

－30.7

3,121

Sales Revenue
30.84 billion Yen（Abroad 57.4%）

Electronic
Materials

Electronic
Materials

1,320

－290

－22.0

1,280

Energy4%

Semiconductors
62%

GeneralProducts

2,440

Industrial
Hydrofluoric
Acid

3,600

Purchased
Goods

1,030

3%

2,560

120

4.9

2,246

Semiconductors Shipping Ratio by Country
100%

4,500

1,760
5,280

－1,840
780

－51.1
17.3

3,919

Other
Singapore
Taiwan3,904South Korea
Japan

Total

32,93030,840－2,090－6.3

32,330FYE 3/2023

FYE 3/2023

Initial Forecast

Revised
Forecast

15

Shareholder Return
Stella Chemifa’s basic policy is to provide stable and continuous dividend payments, giving comprehensive
consideration to factors including its financial condition and profit level. Retained earnings will be allocatedto capital investment and R&D investment, and will be proactively utilized for future business development
to enhance corporate value.
 FYE3/2022

 Annual dividend: 60 yen per share (Annual dividends 50yen,Special dividends 10yen)
 The Company repurchased 300,000 of its own shares,
worth 840 million yen.

 FYE3/2023

 Annual dividend forecast: 60 yen per share The Company repurchased 500,000 of its own shares,

65

worth 1,350 million yen from August to November 2022

36.8

Special dividends

60

Annual dividends (yen per share)

55

Dividend payout ratio（%）

50

30.2

10

20.4

24.7

45

14.2

40
35
30

45

45

47

50

60

FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023(Forecast)

50.0
45.0
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0

16

Reference Material（Corporate Profile ・ Introduction of Our Business）

Corporate Profile(as of Dec 31, 2022)
Corporate NameSTELLA CHEMIFA CORPORATIONHead Of f i ce

Meiji Yasuda Seimei Osaka Midosuji Bldg. 10F,
4-1-1 Fushimi-machi, Chuo-ku, Osaka City, Osaka

Founded/EstablishedFebruary 1916 / February 1944

Capital Fund

4,829,782,512 yen

Representatives

Representative Director, President and Chief Executive Officer: Aki Hashimoto
Representative Director, Senior Managing Director(Products Management Group): Kiyonori Saka

U

R

L

https://www.stella-chemifa.co.jp/english/

Number of Employees

287

Sales Department

Osaka Sales Department (Chuo-ku, Osaka city, Osaka)
Tokyo Sales Department (Chiyoda-ku, Tokyo)

F a c t o r y

Sanpo Factory(Sakai-ku, Sakai City, Osaka)
Izumi Factory (Izumiotsu City, Osaka)
Kitakyushu Factory (Yahatanishi-ku, Kitakyushu City, Fukuoka)
18

Subsidiaries & Associates
At home (3 companies)
Transportation BusinessBLUE EXPRESS, Inc.

Sakai-ku, Sakai City, OsakaO t h e r

B u s i n e s sBLUE AUTO TRUST Co., Ltd.

Sakai-ku, Sakai City, Osaka

MedicalBusiness

STELLA PHARMA CORPORATION

Chuo-ku, Osaka city, Osaka

Abroad (６ companies)
High-Purity Chemical Business

STELLA CHEMIFA SINGAPORE PTE LTD

Singapore

Transportation Business

STELLA EXPRESS (Singapore) PTE LTD

Singapore

High-Purity Chemical BusinessBlue Express (Shanghai) International Trade Inc.

China

Transportation BusinessBlue Express (Shanghai) International Freight Forwarding Co., Ltd.

China

High-Purity Chemical Business

Zhejiang Blue Star Chemical Co., Ltd.

China

High-Purity Chemical Business

Quzhou BDX New Chemical Materials Co., Ltd.

China

19

Introduction of Our Business
Manufacture and applications of hydrogen fluoride

CaF2
Calcium fluoride(Fluorite)+ H2SO4 =Concentrated
sulfuric acid2HF
Hydrogenfluoride* There are five main grades of fluorite purity,and for semiconductor applications, highquality fluorite with a purity of 97% or higher
is required.

+ CaSO4
Calcium
sulfateConcretematerials, etc.

Reaction and refinement using our proprietary technology

Treatment of
surface such as
stainless steel

Raw materials
such asalternatives for
CFCs

Etching agent for
semiconductor
liquid crystals

Materials forlithium-ion
secondarybatteries

Camera lens materials
for semiconductor
manufacturing
equipment

Reaction catalyst
Other products

20Introduction of Our Business
High-Purity Chemical Business
Sem ic o n du c t ors

E

n

e

r

g

y

・Manufacture and sale of chemicals for etching and cleaning in the semiconductor and LCD panel manufacturing processes
・Manufacture and sale of additives to improve the performance of lithium-ion secondary batteries
・Manufacture and sale of concentrated boron (boron 10) used for nuclear power and cancer therapy (BNCT)・Manufacture and sale of tantalum production aids for tantalum capacitors

E l e c t r o n i c

・Manufacture and sale of raw materials for camera and stepper lenses

M a t e r i a l s・Manufacture and sale of R&D products in the small-quantity production stage・Manufacture and sale of raw materials for production of phosphors and phosphors used for LEDs
・Manufacture and sale of a range of chemicals and catalysts for the manufacture of pharmaceutical intermediates, etc.

General Products

・Manufacture and sale of toothpaste additives to prevent tooth decay and gingivitis
・Manufacture and sale of other fluorine compounds

I n d u s t r i a l

・Manufacture and sale of hydrofluoric anhydride, raw materials for CFCs and fluoropolymers

Hydrofluoric Acid・Manufacture and sale of chemicals used for acid cleaning of stainless steel and slimming of LCD panels

Purchased Goods

・Sales of purchased goods

21Introduction of Our Business- Semiconductors -Ultra-High Purification Technology••

Impurity levels of less than 1 ppt (1×10-12) are controlled by ultra-purification and ultra-cleaning
technologies
Mass production of ultra-pure chemicals for ultra-high integrated circuit

Ultra High Purity•

Hydrofluoric acid (HF) is the only chemical capable of etching out silicon oxide film•

Chemical solutions are indispensable to the semiconductor manufacturing process andrequire ultra-high purity

Hydrofluoric Acid

Ultra High Purity Buffered
Hydrofluoric Acid•

In particular, dilute hydrofluoric acid is used in a number of semiconductor processes•

Mixed aqueous solution of hydrofluoric acid (HF) and ammonium fluoride (NH4F)•

Mainly used in processes such as etching and cleaning of insulation films•

Chemicals with etch rates ranging from tens of Å/min to thousands of Å/min can be produced

Example of Application (Photolithography Process)(1) Photoresist coating
on silicon wafer(heat drying)(2) ExposureLight(3) Development(4) Etching(Dissolve silicon oxide filmwith hydrofluoric acidchemicals)(5) Photoresist
stripping

Photoresist
Silicon oxide film

Silicon substrate

22

Introduction of Our Business- Semiconductors -Production capacity of High Purity Hydrofluoric Acid for Semiconductors
Kitakyushu Factory

Kitakyushu City, Fukuoka

30,000 t /year

Sanpo Factory

Sakai City, Osaka

65,000 t /year

STELLA CHEMIFASINGAPORE

Singapore

10,000 t /year

105,000 t /year* As a comprehensive manufacturer of fluorine compounds, we use our own
technology to do everything from manufacturing to filling.
23

Introduction of Our Business- Energy -Additives Additive for electrolytic solution to improve the performance oflithium-ion secondary batteries
 High-temperature endurance・High conductivity・
Increased capacity・Low resistance・Flame retardanceIzumi Factory's manufacturingbuilding (Izumiotsu City, Osaka)

Lithium Hexafluorophosphate High-purity electrolytes for lithium-ion secondary batteries* Manufacture and sale at our affiliate company in China (Quzhou BDX New Chemical Materials Co., Ltd. )Example of materials used in lithium-ion secondary batteries
Additives

Positive andnegative electrodeSeparator

Current
collector

Electrolyte

BinderProtective IC

PTC element

Quzhou BDX New Chemical
Materials Co., Ltd. (China)

24

Introduction of Our Business- Energy -Enriched Boron (Boron-10) and its features
 Natural boron is made up of two isotopes, boron-10(20%) and boron11(80%)
 Developed technology to enrich boron-10 to over 99%
 Established mass production technology of enriched boron for the first timein Japan(2000)
 Boron-10 has an extremely high capacity to absorb neutrons, and further
enriching it can increase its ability to absorb neutrons.
Enrichment plant(Izumiotsu City, Osaka)

Production capacity
Production Capacity

Products

6,000kg

Enriched Boron

10B

Enriched Boric Acid

H310BO3

36,000kg

K10BF475,000kg

Enriched Potassium
tetrafluoroborate

25

Introduction of Our Business- Energy -Applications of Enriched Boron Compounds
 Neutron-absorbing material of spent nuclear fuel transportation and storage containers Material of control rods of nuclear reactors and rack material of spent nuclear fuel pools Excess reaction control of pressurized-water reactors by dissolving into primary coolingwater
 Water source for facilities responding to specific major accidents, etc.
 Raw material for cancer treatment drugs (BNCT: Boron Neutron Capture Therapy)

Advantages of Using Enriched Boric Acid
(1) Improvement of corrosive environment in nuclear reactors
Required 10B concentration can be secured at 1/5 of natural products.
Operation at low concentration is possible, and corrosion in facilities can be reduced.
(2) Reduction of storage costs
Heating and heat retention are required to maintain the dissolution of boric acid water.
Enriched boric acid realizes the reduction in concentration, and reduces the problem of heatretention.
In addition, the storage tank can be made smaller.
(3) More reliable control
In the event of an emergency stop, more reliable control is possible, and since boric acid isharmful to the human body and the environment, the reduction of overall amount of boric
acid is an advantage.
26

Introduction of Our Business- General Products -Tin Fluoride 2017
The GMP inspection by USFDA for tin fluoride, an active ingredient of OTC anticaries drugs, wascompleted, and obtained official approval.
 2018Started marketing of “tin fluoride” as a GMP-compliant product.

<Actions of fluorine on teeth>■ To suppress Streptococcus mutans from producingacid (Cavity prevention)■ To promote tooth remineralization■ To form acid-resistant teeth (to form fluorapatite)* We expect to see big demand mainly inEurope and the US, where there is strong
Izumi Factory's manufacturing building
interest in dental health and beauty.
(Izumiotsu City, Osaka)
 We are also developing new applications other than toothpaste(e.g., hoof sterilization)
27

Introduction of Our Business- New Initiatives(Semiconductors) -Chemicals for semiconductors
 Development of functional chemical solutions to meet the requirements ofmanufacturers of DRAM, which is becoming increasingly smaller, and 3D NAND,
which is increasingly multilayered, anticipating the time when various advanced
technologies are demanded for improving the performance of semiconductors
 Smaller particle sizes will be guaranteed as logic and memory become smaller

Development andproposal of highly
functional chemicals

28

Introduction of Our Business- New Initiatives(Electronic Materials1) -Phosphor-related Materials

Mini LED market/×1000 units The iPad Pro 12.9-inch model will feature a mini LED backlight LCD,
which is expected to lead to its wider use.
 Research on the use of mini LEDs for automotive display and otherapplications is attracting further attention.
 Other potential applications include digital signage and lighting.
60,00050,00040,000

Forecasts of global market size for mini LED displays
Growth is expected to reach a temporary halt due to
COVID-19 and a shortage of semiconductors,
but is expected to continue in the future.

30,00020,00010,000
0

2021

2022

2029

(Prospects)(Prospects)

Source: Yano Research Institute2022 Micro, Mini LED Display Market and Future Prospects

Development of highly efficient and long-life fluoride phosphor
materials using our core technologies
Customers have adopted some products, and R&D for further
expanding adoption will be promoted

 Red phosphor materials

LSA-61A

 Phosphor materials

NSM, PBFS Filler for LED sealant

MgF2, CaF2 nanoparticles

29Introduction of Our Business- New Initiatives(Electronic Materials2) -PCB Materials (Low Dielectric Constant Materials)
As materials for high-frequency communication devices, used as additives (fillers) to resin and other materials for substrates.

(million yen)

Development of high-performance
fillers for enhanced 5G or Beyond 5G
Low dielectric constant・Low dielectric constant+Higher dispersibility to resin, low thermal
expansion, etc.

Expansion

Low temperature

High temperature(Year)

Early 5G

Enhanced 5G

Beyond5G

Figure. Trends and forecasts of market size of flexible printed circuit boards(Source: Fuji Chimera Research Institute)
Developed high-performance filler (SHF series)

30

Introduction of Our Business—New Initiatives (Next Generation Materials Research Lab)The Next Generation Materials Research Lab starts operation
On February 3, 2023, we began R&D activities in the new building, the Next Generation Materials Research Lab,
located within Sanpo Factory premises (5 stories above ground, total floor area: about 5,000 m2)(1) Establishment of an optimal R&D environment
A dry room, environmental testing room, clean room, and other facilities are installed, as well as the latest R&D
equipment
・Speeding up the process from R&D to commercialization
・Development of state-of-the-art, high-performance, ultra-pure chemicals for semiconductors
・Acceleration of product development for next-generation battery materials such as all-solid-state batteries
・Creation of new businesses, such as the development of high-performance fluoride materials for new
applications and materials in the biotechnology field(2) Creation of a workplace environment that supports innovation
Consolidation of R&D departments into open office space・Communication will be facilitated among researchers andinnovation will be promoted by consolidating the existing
two bases into one.
・Development of comfortable R&D space

Next Generation Materials Research Lab(Located within Sanpo factory premises)31

Introduction of Our Business—New Initiatives (Cell Culture Container 1)
Market size of cell culture containers
Future Market Size Forecast
for Industries Surrounding
Regenerative Medicine(100 million yen) (Japan)

Market breakdown ofconsumables in Japan(Estimated for 2020)

14,000

Test kit

12,0005%

10,000Equipment
Consumables

8,000

Services

6,000

18%

3%

CulturemediumCulture54%

container

20%

4,000
2,000
0

PipetteOther

2012 2020 2030 2040 2050 (year)

Adapted from the Ministry of Economy, Tradeand Industry, “Future Market Size Forecast for
Industries Surrounding Regenerative Medicine”

Plates, flasks, petri dishes
Approx. 10% of consumables(estimated)

3.5 billion yen (2020) ->53 billion yen (2050)
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Introduction of Our Business—New Initiatives (Cell Culture Container 2)
Major cell culture containers
Cell

PlatesCells do not adhere
Our
proprietary
surfacetreatment

Petri dishes

Cells adhere and proliferate
Modification of the bottom
surface of resin containers
FlasksFeatures of the cell culture
containers we developed(1) Can culture primary culture
cells well without special
coating treatment.
(2) Better at cell culture under
low serum condition thanconventional generalcommercial products.
(3) Can provide a stable culture
surface.

● Exhibiting at an exhibition
Exhibition annexed to the 45th
Annual Meeting of the Molecular
Biology Society of Japan
Period: November 30 to
December 2, 2022
Venue: Makuhari Messe

Joint research with the Institute for Biomedical Sciences, Shinshu University(Professor Naoto Saito and Associate Professor Takeshi Uemura)

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Introduction of Our Business- Other product examples -Optical Material-Related(Product information)◆Calcium Fluoride◆Aluminum Fluoride◆Magnesium Fluoride ◆Lead Fluoride◆Lithium Fluoride◆Strontium Fluoride◆Barium Fluoride

Reactive Catalyst-Related◆High Purity Boron Trifluoride◆Boron Trifluoride Diethyl Ether◆Boron Trifluoride n-Butyl Ether◆Boron Trifluoride Tetrahydrofuran◆Boron Trifluoride Monoethyl Amine ◆Boron Trifluoride Piperidine◆Boron Trifluoride Dimethyl Ether◆Boron Trifluoride Phenol◆Triethylamine 3HF

Surface Treatment, Alternatives for CFCs-Related

Nuclear Energy-Related◆Anhydrous Hydrofluoric Acid

◆10B Enriched Potassium Fluoroborate◆ 10B Enriched Boric Acid

◆55% Hydrofluoric Acid

Other Products◆Fluorosilicic Acid
◆Potassium Fluorosilicate◆Fluoroboric Acid
◆Tin Fluoroborate◆Copper Fluoroborate◆Lead Fluoroborate◆Zinc Fluoroborate◆Sodium Fluoroborate◆Potassium Fluoroborate◆Ammonium Hydrogenfluoride◆Sodium Fluoride◆Potassium Fluoride◆Ammonium Fluoride◆Potassium Hexafluorozirconate◆Potassium Hexafluorotitanate ◆Refined Calcium Fluoride ◆Potassium Hexafluorophosphate

Newly-Developed Products◆Detergents Contributing to Increase in Chemical Lifetime ◆Detergents Suppressing Etching of Silicon Nitride Film
◆Detergents Inhibiting Silicon and Polysilicon Damage◆Battery-Related（ Ionic Liquids, Electrolytes for Sodium Ion Batteries - Sodium Hexafluorophosphate,
Additives for Lithium-Ion Batteries,）◆Various Fluoride Nanoparticles Dispersant (Magnesium, Lithium, Ytterbium, Calcium, CNP-P)◆Phosphor materials◆Nuclear Energy Industry◆5G/6G (Information Communication Systems), Printed Circuit Board◆Special-Purpose Inorganic Fluorine Compounds◆Fluorinated Carbon Nano-Tubes

34

Introduction of Our Business* For details, please visit the website.

35

Introduction of Our Business- Transportation Business -Transportation Business(HP URL)

BLUE EXPRESS, Inc.

T r a n s p o r t

Land transport ・Marine transport・Rail transport

Customs Clearance

Customs clearance ・Loading and Unloading

Warehousing

Providing multi-functional warehouses fully equipped with the latest systems

Supplying large and pressurized containers that meet ISO specifications,
medium-size IBC pressurized containers, as well as IBC containers with UN
Container services
specifications,and also offering services for cleaning, repairing and leasing thecontainers
Customs
clearance sites

Shipping terminals

Overseas Bases

Ohama OfficeSendai Office

Singapore

Osaka Office

Kanto Office

China(Shanghai)

Yokohama Office

Yokohama OfficeShimizu Office
Nagoya Office
Ohama Office
Kobe Office
Kitakyushu Office36

Introduction of Our Business- Transportation Business -Equipment

List of vehicle types* Tractors* Container Semitrailers
20FT chassis
35FT chassis
40FT chassis
chassis for container
Wings Semitrailers* Tank Trailer
Tank trailers
High Pressure Gas Trailers* 4～15-Ton Wings Trucks* Temperature Controlled Wings Trucks* 1～15-Ton Flatbed Bodies* Container Carrier* Tank Trucks
Dedicated Trucks
Tank Trucks for High Pressure Gas* Tank containers
ISO Tank Containers (Teflon Lined)
ISO Tank Containers (Reefer)
JR Tank Containers (Teflon Lined)* Portable Tank (Teflon Lined)
37

Introduction of Our Business- Transportation Business -TOPICS
Promoting initiatives focusing on profitability
 Revision of low-price transactions: Revising the rates to ones commensurate with costs andrevising the transactions themselves Acquisition of new projects: Actively responding to inquiries, identifying potential demand ofexisting shippers, collaborating with other departments, etc.
(1) Sendai Office relocated on April 26, 2021

Sendai Office

Relocated to the adjacent area of
Sendai Port for capturing demand formarine containers(2) Introduction of top lifts in Kitakyushu Office

Kitakyushu Office
Top lift (April 2022)

38