Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
[Under Japanese GAAP]
February 13, 2024
Company name: STELLA CHEMIFA CORPORATION
Listing: Tokyo Stock Exchange
Securities code: 4109
URL: https://www.stella-chemifa.co.jp
Representative: Aki Hashimoto, Representative Director, President and Chief Executive OfficerInquiries: Yasuhiko Nakashima, Director, Executive Officer and General Manager, Accounting Department
Telephone: +81-6-4707-1512
Scheduled date to file quarterly securities report: February 14, 2024
Scheduled date to commence dividend payments: ―Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing: No(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated Financial Results for the Nine Months Ended December 31, 2023 (April 1, 2023 - December 31,2023)(1) Consolidated Operating Results (cumulative)(% indicates changes from the previous corresponding period.)
Profit attributable toSales revenue
Operating profit
Ordinary profit
owners of parent
Nine months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen%
December 31, 2023
23,311 (17.5)
2,284 (25.6)
2,537 (32.3)
1,707
2.9
December 31, 2022
28,2704.2
3,068 (12.8)
3,750(4.7)
1,658 (47.5)(Note) Comprehensive income: For nine months ended December 31, 2023: ¥2,756 million [16.4%]
For nine months ended December 31, 2022: ¥2,368 million [(27.9)%]
Basic earnings
Diluted earnings
per shareper share
Nine months ended
Yen
Yen
December 31, 2023
141.98–December 31, 2022
134.42–(2) Consolidated Financial Position
Total assets
Millions of yen

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen%

Yen

57,641
As of December 31, 2023
44,81355,471
As of March 31, 2023
43,162(Reference) Equity: As of December 31, 2023: ¥44,566 million
As of March 31, 2023: ¥42,875 million

77.3
77.3

3,705.183,568.67

2. Cash Dividends
Firstquarter-end

Annual dividends
Thirdquarter-end

Secondquarter-end

Yen

Yen

Fiscalyear-end

Yen

Fiscal year ended
–
30.00
–
March 31, 2023
Fiscal year ending
–
60.00
–
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)(Note) Revision to the forecast for dividends announced most recently: Yes

Total
Yen

Yen

30.00

60.00

85.00

145.003. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March 31,2024)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
to owners ofSales revenue
Operating profit
Ordinary profit
per shareparent
Millions of yen% Millions of yen% Millions of yen% Millions of yen

Full year
32,300 (8.7)
2,800 (20.3)
2,450 (43.7)(Note) Revision to the financial results forecast announced most recently: None

1,650%Yen(27.7)

137.33* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
Newly included: – (Company name: –)Excluded: – (Company name: –)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None
4) Restatement: None
(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023:
13,213,248 shares
As of March 31, 2023:
13,213,248 shares
2) Number of treasury shares at the end of the period
As of December 31, 2023:
As of March 31, 2023:

1,185,204 shares
1,198,814 shares

3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year):Nine months ended December 31, 2023:
12,023,615 shares
Nine months ended December 31, 2022:
12,341,012 shares* These quarterly consolidated financial results are exempt from quarterly review conducted by certified public
accountants or an audit corporation.

* Explanation of the proper use of financial results forecast and other notes
The forward-looking statements in this document, including financial results forecasts, are based on the informationin current possession of the Company and the assumptions it believes are reasonable. They are not intended as theCompany’s promise to achieve them. Note also that actual financial results may differ significantly from them. For
the assumptions that form the basis of financial results forecasts and notes on their use, see “1. Qualitative Information
on Quarterly Financial Results for the Period under Review, (3) Explanation of Consolidated Financial Results
Forecast and Other Forward-Looking Information” on page 3 of the Attachments of quarterly consolidated financialresults.

Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results for the Period under Review ......................... 2(1) Explanation of Operating Results ..................................................................................................... 2(2) Explanation of Financial Position .................................................................................................... 2(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information.............................................................................................................................................................. 32. Quarterly Consolidated Financial Statements and Principal Notes ...................................................... 4(1) Quarterly Consolidated Balance Sheet ............................................................................................. 4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ................................... 6
Quarterly Consolidated Statement of Income
Nine Months Ended December 31 ................................................................................................ 6
Quarterly Consolidated Statement of Comprehensive Income
Nine Months Ended December 31 ................................................................................................ 7(3) Notes to Quarterly Consolidated Financial Statements .................................................................... 8(Notes on going concern assumption) ......................................................................................... 8(Notes on Significant Changes to Shareholders’ Equity) ............................................................ 8(Accounting methods adopted particularly for the preparation of quarterly consolidated
financial statements) ................................................................................................................... 8(Segment information, etc.) ......................................................................................................... 91

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
During the nine months ended December 31, 2023, the Japanese economy showed signs of a gradual recovery
as behavioral restrictions in place to counter COVID-19 were eased. However, the economic outlook remains
uncertain due to concerns of an economic slowdown against a backdrop of monetary tightening mainly in Europe
and the United States, continued depreciation of the yen, heightened tensions in the global situation and otherfactors.
In this environment, the Group continued to supply a diverse range of fluoride products in line with theneeds of customers mainly in the information and communication industry in Japan and overseas, as well as
developing the chemical product distribution business based on the unique know-how acquired in thetransportation of special cargo.
In regard to the performance for the nine months ended December 31, 2023, in the Semiconductors,
shipment volume declined due to deterioration in the semiconductor market, and shipment volume also fell in
the Industrial Hydrofluoric Acid and the General Products. As a result, sales revenue decreased to 23,311 millionsof yen (down 17.5% year on year).
In terms of profits, having been buffeted by a decline in sales revenue, operating profit amounted to 2,284
millions of yen (down 25.6% year on year), ordinary profit amounted to 2,537 millions of yen (down 32.3% yearon year), and profit attributable to owners of parent amounted to 1,707 millions of yen (up 2.9 % year on year)
mainly as a result of impairment losses that were recorded as extraordinary losses in relation to production
facilities for additives for lithium-ion secondary batteries in the High-purity Chemical Business.
(2) Explanation of Financial Position(Assets)
Current assets at the end of the third quarter of the fiscal year under review increased by 1,114 millions of yen(3.9%) from the end of the previous fiscal year to 29,729 millions of yen. The main reasons for this increase
were an increase of 1,632 millions of yen in cash and deposits, and a decrease of 501 millions of yen in notes
and accounts receivable - trade. Non-current assets increased by 1,055 millions of yen (3.9%) from the end of
the previous fiscal year to 27,911 millions of yen. The main reason for this increase was an increase of 1,015
millions of yen in property, plant and equipment.
Consequently, total assets at the end of the third quarter of the fiscal year under review increased by 2,170
millions of yen from the end of the previous fiscal year to 57,641 millions of yen.
(Liabilities)
Current liabilities at the end of the third quarter of the fiscal year under review decreased by 1,413 millions ofyen (15.9%) from the end of the previous fiscal year to 7,480 millions of yen. The main reasons for this decline
were decreases of 498 millions of yen in electronically recorded obligations facilities, 448 millions of yen inaccounts payable - other, and 359 millions of yen in accounts payable - trade. Non-current liabilities increased
by 1,932 millions of yen (56.6%) from the end of the previous fiscal year to 5,347 millions of yen. The main
reason for this increase was an increase of 1,115 millions of yen in long-term borrowings.
Consequently, total liabilities at the end of the third quarter of the fiscal year under review increased by 518
millions of yen from the end of the previous fiscal year to 12,828 millions of yen.
(Net assets)
Total net assets at the end of the third quarter of the fiscal year under review amounted to 44,813 millions of yen,
an increase of 1,651 millions of yen from the end of the previous fiscal year. The main reasons for this growth
were increases of 1.0 billion of yen in foreign currency translation adjustment and 612 millions of yen in retained
earnings.
Consequently, the equity-to-asset ratio was 77.3% (77.3% at the end of the previous fiscal year).

2(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information
Consolidated financial results forecasts for the fiscal year ending March 31, 2024 have not been revised from theforecasts announced on May 9, 2023.

3

2. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Electronically recorded monetary claims - operating
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, netMachinery, equipment and vehicles, net
Land
Leased assets
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Other
Total investments and other assets
Total non-current assets
Total assets

4

As of December 31, 2023

15,097
7,069
41
2,124
1,701
1,671
924(14)
28,615

16,730
6,567
27
2,043
1,666
1,749
958(13)29,729

8,567
4,527
5,467
165
1,833
2,063
22,625

8,714
4,559
5,467
152
2,486
2,260
23,640

261
261

178
178

3,970
3,970
26,85655,471

4,092
4,092
27,911
57,641

(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Electronically recorded obligations facilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for share awards
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

5

As of December 31, 2023

1,469
799
1,920
932
1,322
384
387

1,109
624
2,000
1,033
873
82
189

36－

1,069
573
8,894

570
998
7,480

1,070

2,185

34

25

121
950
689
548
3,414
12,309

138
959
716
1,321
5,347
12,8284,829
8,793
30,904(2,991)
41,536

4,829
8,797
31,517(2,957)42,186

42
1,296
1,339
48
238
43,16255,471

82
2,297
2,379
－
247
44,81357,641

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income
Nine Months Ended December 31(Millions of yen)

Sales revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Share of profit of entities accounted for using equity
methodGain on valuation of derivatives
Subsidy income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodLoss on valuation of derivatives
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on change in equity
Gain on sale of investment securities
Gain on reversal of share acquisition rights
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Loss on sale of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

For the nine months ended
December 31, 2022
28,27022,252
6,017
2,949
3,068

For the nine months ended
December 31, 2023
23,311
18,200
5,110
2,826
2,284

561－

－
28
279
78
947

74
12
221
116
425

21

17－

148

240
4
266
3,750－
6
172
2,537

9－
1,258－
1,267

14104－
48
167

454
0
1,926
2,380
2,636
1,283
1,353(305)
1,658

172
－
426
598
2,106
408
1,698
(8)
1,707

6

Quarterly Consolidated Statement of Comprehensive Income
Nine Months Ended December 31(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

For the nine months ended
December 31, 2022
1,353

For the nine months ended
December 31, 2023
1,698

(20)
(46)
867

39－
854

213

163

1,014
2,368

1,058
2,756

2,608

2,747(239)97

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Notes on Significant Changes to Shareholders’ Equity)
Not applicable.
(Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements)(Calculation of tax expenses)
The Company has calculated tax expenses by reasonably estimating the effective tax rate after the application oftax effect accounting to profit before income taxes for the fiscal year including the third quarter of the fiscal year
under review and multiplying profit before income taxes by the estimated effective tax rate.

8(Segment information, etc.)[Segment information]
I. For the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022)
1. Information on sales revenue and profit or loss by reportable segment(Millions of yen)
Reportable segment

Other(Note)

Total

High-purity
ChemicalTransportation

24,7003,453

28,153116

28,270

0

2,561

2,561

176

2,738

Total

24,7006,014

30,714293

31,008Segment profit

2,619

441

3,060

16

3,077

Sales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers

Total(Note) The “Other” category is for non-reportable business segments, including insurance agency business andautomobile maintenance business.

2. Difference between the total amount of reportable segment profit or loss and the amount in the quarterly
consolidated statement of income and main details of this difference (matters relating to difference adjustments)(Millions of yen)
ProfitAmountReportable segment total

3,060

Profit in “Other” category

16

Inter-segment elimination(8)

Operating profit in the quarterly consolidated
statement of income

3,068

3. Matters relating to changes in reportable segments, etc.
Not applicable.
4. Information on impairment losses on non-current assets or goodwill, etc. by reportable segment(Significant impairment losses on non-current assets)
In the High-purity Chemical segment, impairment losses in property, plant and equipment (construction inprogress), which is held for the purpose of raising the production, was recorded as extraordinary losses regarding
additives for lithium-ion secondary batteries, as a result of revising future business plans. The amount recorded
as impairment losses for the nine months ended December 31, 2022 was 1,926 millions of yen.

9II. For the nine months ended December 31, 2023 (from April 1, 2023 to December 31, 2023)
1. Information on sales revenue and profit or loss by reportable segment(Millions of yen)
Reportable segment

Other(Note)

Total

High-purity
ChemicalTransportation

20,0593,127

23,186124

23,311

0

2,342

2,342

193

2,535

Total

20,0595,469

25,528318

25,847

Segment profit

1,964

317

2,281

13

2,294

Sales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers

Total(Note) The “Other” category is for non-reportable business segments, including insurance agency business andautomobile maintenance business.

2. Difference between the total amount of reportable segment profit or loss and the amount in the quarterly
consolidated statement of income and main details of this difference (matters relating to difference adjustments)(Millions of yen)
ProfitAmountReportable segment total

2,281

Profit in “Other” category

13

Inter-segment elimination(10)

Operating profit in the quarterly consolidated
statement of income

2,284

3. Matters relating to changes in reportable segments, etc.
Not applicable.
4. Information on impairment losses on non-current assets or goodwill, etc. by reportable segment(Significant impairment losses on non-current assets)
In the High-purity Chemical segment, impairment losses of 426 millions of yen were recorded as extraordinary
losses for the nine months ended December 31, 2023, as existing production facilities for additives for lithiumion secondary batteries were treated as idle assets due to a significant decrease in the immediate operations
outlook, as a result of taking into consideration the current market environment and production status.

10