NIPPON FINE CHEMICAL CO., LTD.

Financial Results Meeting for
Fiscal Year Ended March 31, 2022
(FY2021)
May 18, 2022
NIPPON FINE CHEMICAL CO., LTD.

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors

1

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
ReportingSegments

Company(Divisions / Departments)
and Subsidiaries*

Industrial
Products

Cosmetic Ingredients
Division

Main Business
FieldsCorporate Products and Businesson the Company’s Website

Cosmetic IngredientsBusiness(cosmetic ingredients)

Beauty care field
Beauty care field

Lanolin Cholesterol
Business

Lipid Division
Fine Chemicals Department
Nipo and Zillion
Trading companies(subsidiaries) in Japan
Bilis, Oleo, and PLAS-TECH

HouseholdProducts

Arbos

Health care field

Lipid Business(phospholipids forpharmaceuticals)

Fine Chemicals
Business

Health care field

Perovskite solar cells

Colorless heat resistant film

High-speed communication
printed circuits

Electronic and functional resinmaterials field
Natural resources and energy field
Health care field*Names of subsidiaries• Nipo: Sichuan Nipo Fine Chemical Co., Ltd. (China)• Zillion: Zillion Fine Chemicals International Co.,Ltd.
(Taiwan)• Bilis: Nissei Bilis Co., Ltd.
• Oleo: Oleotrade International Co., Ltd.
• PLAS-TECH: NISSEI PLAS-TECH CORPORATION• Arbos: Arbos Co., Ltd.

Health care field
2

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Main business positions and image of strategies
Growthpotential

Lipid Business(phospholipids forpharmaceuticals)

Develop into a corebusiness alongsidecosmetic ingredients⇒ Make capital
investment

Cosmetic Ingredients Business(cosmetic ingredients)

Arbos
Expand tooverseas
cosmetics
manufacturers

Fine Chemicals
Business

Lanolin Cholesterol
Business

Perovskite solar cells

SpreadARBONURSE brandSelect products / develop
next-generation
technology
Colorless heat resistant film

High-speed communication
printed circuits

Ensure stable
growth and profits

Profitability
3

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Cosmetic Ingredients Business (cosmetic ingredients)

Cosmetic Ingredients Business• Propose added value to customers with ingredients for skin care,hair care and makeup• Offer raw ingredients for cosmetics including lipid complex thatapplies technology cultivated in the pharmaceutical field,
functional ester that provides added value to cosmetic functions,and active ingredient and other materials that induce beautiful
and healthy skin from the cellular level

Lipid complex

Functional
ester

Active ingredient• By using plant-derived ingredients and not using
genetically modified ingredients, strive for productdevelopment that considers safety and sustainability
for living organisms and the environment
Obtained certification from theRoundtable on Sustainable Palm
Oil (RSPO), an international
certification system advocating
for production and use ofsustainable palm oil.

Our lineup includes products
verified by ECOCERT/COSMOS,
an international organization fororganic certification

Gradually expanding the range of products that do notuse genetically modified ingredients in order tomanufacture cosmetic ingredients premised on safety
and security

4

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Lanolin Cholesterol Business・Lanolin is a natural fat obtained by purifying the lipid components that adhere to wool, sheared every
year, and is used as the base materials for cosmetics and pharmaceuticals
・Cholesterol obtained from lanolin is the lipid components that are contained in human skin and hair, andcholesterol is used for cosmetics and pharmaceuticals and also as feed additives for shrimp farms andingredients for vitamins
・By-products obtained from the processing and purification process oflanolin and cholesterol are upcycled and effectively used as cosmetic andindustrial ingredients・Lanolin is a people-friendly, recyclable and sustainable material produced
without harming sheep. It is launched as cosmetic ingredients under Ecolano
brand and industrial ingredients under LanoAce brand

Ecola and Lano, Nippon Fine Chemical’slanolin mascot characters

5

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Lipid Business (phospholipids for pharmaceuticals)・ Main use is in the production of liposome formulations, which are nano-sized capsules mainlycomposed of phospholipids, and LNP (lipid nano particle - nanoparticles composed of lipids)
formulations, which are represented by those used in recently-approved coronavirus vaccines
・ Improvement in transport to affected areas by packing active ingredients in liposomes and LNPs, andreduction of burden on patients and contribution to improving quality of life by enhancing therapeutic
efficacy and reducing side effects

・ Support of customers’ development of formulations through supply of Presome (phospholipid
complex), which allows easy preparation of liposomes and manufacturing, etc. in compliance with GMP(Good Manufacturing Practice)

・ Developing proprietary products that address unmet medical needs*
and drug repositioning,* for which demand in society is increasing,and strengthening R&D in downstream fields that utilize these*Unmet medical needs: Demand for pharmaceuticals and medical treatments for diseases for which
there is no effective treatment yet
Drug repositioning: Development of new drugs by finding effects of existing therapeutic drugs that are
effective for other diseases

6

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Fine Chemicals Business・ By utilizing organic synthesis technology cultivated over many years, supplying raw materials andintermediates to various industrial fields including hole transporting materials used in perovskite solar
cells which are promising as renewable energy, resin materials with functions such as a low dielectric
constant and high heat resistance, etc., used for circuit boards, which are essential for the nextgeneration high-speed communication technology (5G) and pharmaceutical intermediates based on
unique synthetic technology.
・ Providing fatty acid amides manufactured from natural fatty acids for use as
lubricants for synthetic resins, etc. Focusing on expanding to biodegradable
resin applications developed for global environmental protection.
This material is being used in an increasing number of applications,
including in the powder metallurgy field.
・ Providing thermal curable and UV curable hard coatings. Strengthening
development of coatings with anti-fogging, anti-static,
anti-fouling, and other surfacefunctions.

Pharmaceutic
al rawmaterials /intermediates

Optimizationof synthesis
process

Electronicmaterial-related

40-yearachievements

Multipurpose
plantsOrganicsynthesis
technology

Functional
resins7

NIPPON FINE CHEMICAL CO., LTD.

1. NIPPON FINE CHEMICAL Group’s Business Sectors
Arbos
・With the corporate slogan of “Create KIREI,” Arbos has been developing and providing mainly commercial
hygiene products for over 70 years since its establishment. As a comprehensive hygiene-related company,
Arbos also provides an array of products related to cleanup, sterilization and disinfection in a wide range offields such as food, medical institutions and public spaces, along with hygiene management support thatfacilitates proper and effective use of these products.
・The adoption and use of the ARBONURSE hand sanitizer, the main product of Arbos, is progressing well for
infection control.

・ We have developed a hand soap with color-changing foam and a patented dishwasher detergent withimproved concentration and rinsing performance.
Hand sanitizer
Both products are now on sale.
ARBONURSE

A popular product with pink foam that changes white when hand washing is complete.

20 kg product is now
available in 4 kg size

8

NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• Net sales and profits increased for 5 consecutive terms, reaching record highs• Achieved the numerical targets in the latest forecasts for both net sales and profits
Latest forecast(Unit: Millions of yen)

FY2019FY2020

FY2021

Actualamountam
ount

Actualamountam
ount

Actualamountamount(Announced on(Announced
on October
October28,
28,2021)2021)

Year-on-yearchanges (%)

Am
ountAmountChangeChange fromforecast (%)(%)

Net sales

29,04730,50933,4489.6%

32,5002.9%

Operating profit

3,641

3,939

4,881

23.9%

4,500

8.5%

Ratio of operating profit (%)

12.5%

12.9%

14.6%

Ordinary profit

3,920

4,154

5,127

23.4%

4,800

6.8%

2,621

2,758

3,472

25.9%

3,200

8.5%

110.37116.17146.32

Profit attributable toowners of parent
Basic earnings per share
(Yen)

13.8%

134.759NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021
・Industrial Products: Significant recovery to levels higher than before COVID-19 (FY2019)・Household Products: Decreased from the previous fiscal year, but maintained businessperformance higher than before COVID-19
Reporting segment

FY2019FY2020

FY2021Year-on-year changes
for FY2021
AmountRate(Unit: Millions of yen)
Industrial Net sales
Products
Operating profit

20,573

19,30523,600

4,295

22.2%

2,747

2,293

3,621

1,328

57.9%

Ratio ofoperating profit

13.4%

11.9%

15.3%

7,337

10,0698,646-1,423-14.1%

619

1,423

927

-495

-34.8%

Ratio ofoperating profit

8.4%

14.1%

10.7%

Net sales

1,136

1,134

1,201

67

5.9%

Operating profit

274

223

332

109

49.1%

Ratio ofoperating profit

24.1%

19.7%

27.7%

Household Net sales
Products
Operating profit

Other**Other: Real estate business and the contract business of pharmacology and safety tests

10

NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• Status of net sales by major business category
Reportingsegment

Main business

Cosmetic IngredientsBusiness (cosmetic
ingredients)
Lanolin Cholesterol
Business
Industrial
Products

Lipid Business(phospholipids forpharmaceuticals)
Fine Chemicals BusinessHouseholdProducts

Arbos

Status(Year-on-yearchanges)

+23%

+23%
+25%

Overview

The cosmetics markets recovered in China and Japan, and our
products were adopted in our customers’ large-scale products.
Overseas sales increased significantly due to economic recovery in
China and the United States
Overseas sales expansion proceeded as planned+26%

Demand for general-purpose industrial raw materials used forsemiconductors, automobiles and other applications recovered,although sales of functional coatings decreased-14%

The market for COVID-19 infection control products is still booming,but product shortages have been resolved due to entry of newcompanies
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NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• Analysis of increase / decrease in operating profit (Year-on-year changes)
Increasein salesIncrease in
Impact of exchange
personnel Increase inrate fluctuations
expenses other fixed
Others ¥50 million
costs-¥160 million-¥30 million¥10
million¥1,090 million
Industrial Products: ¥1,550 million
Household Products: –¥460 million¥940 million
increase¥4,880
million¥3,940
millionFY2020・ Profits increased due to increased sales ofIndustrial products
・ Absorbed the impact of decrease in sales ofHousehold products and increase inpersonnel expenses

販売増加

人件費増加

固定費増加

その他

為替影響

増減額

FY2021

12

NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• (Consolidated) Trends in R&D expenses and ROE
900
800

R&D expenses (Unit: Millions of yen)
Ratio of R&D expenses to net sales (%) 717

2.7

712

675

700

2.8

824

609
600
2.5

2.5

500

2.6

3,000

2.5

2,500

2.4

2,000

7.0
5.9

2.2

100
FY2018FY2019

9.0
8.0

6.9
7.0

6.3

6.0

2.3

1,500

2.2

1,000

2,758
2,303

FY2017

8.1

3,472

2.3

300
200

3,500

Profit attributable to owners of parent(Unit: Millions of yen)
ROE (%)

5.0

2.4

400

4,000

FY2020

2.1

500

2.0

-

FY2021・ (Cosmetic ingredients) Development of RSPO and non-GMO products, etc. in
response to demand for sustainability・ (Phospholipids for pharmaceuticals) Development of proprietary products toaddress unmet medical needs and drug repositioning・ (Fine chemicals) Acquired an evaluation system for materials used in nextgeneration solar cells and focusing on developing in-house products

4.0
3.0

2,621

2.0

2,014

1.0
-

FY2017FY2018FY2019FY2020

FY2021

・ROE exceeded FY2019 and reached a record highSucceeded in developing materials used for
new solar cells through joint research with the
National Institute of Advanced Industrial
Science and Technology (AIST)13

NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• Balance sheet (Unit: Millions of yen)Account

Balance as ofMarch 31, 2022

Year-on-yearchanges

Main factors for increase / decrease

Cash and deposits

12,862-1,510Notes and accounts
receivable – trade

8,703

+829

Inventories

8,420+1,870

Securing raw materials and responding to increase in sales

Property, plant andequipment

12,772+1,542

Investment related to phospholipids for pharmaceuticals(construction in progress)

Investments and otherassets

11,503-1,293

Decrease in unrealized gains on investment securities andsale of some assets

Other

544

+104

Total assets

54,807+1,542

Notes and accounts
payable - trade

3,928

-15

Deferred tax liabilities

2,267

-392

Other

4,051

+236

Total liabilities

10,247-171

Total net assets

44,560+1,713¥1,851.84+¥78.30

Net assets per share

Increase in sales

Assets increased
due to strong
business
performance andcapital investment

Equity-to-asset
ratio improved year
on year due toaccumulated profits

Equity-to-asset ratio 79.8% (+0.7% year-on-year)

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NIPPON FINE CHEMICAL CO., LTD.

2. Overview of Consolidated Financial Results for FY2021• Statement of cash flows (CF) (Unit: Millions of yen)
Category

FY2021Main factors

Profit before income taxes

5,017

Depreciation

1,070

Increase in working capital-2,637

Income taxes paid

-1,185

Other

Securing raw materials, effects of an increase in sales

21

CF from operating activities

2,285

CF from investing activities-2,741(Free CF)(-455)

CF from financing activities-1,399Effect of exchange ratechange on cash and cash
equivalents

78

Net increase (decrease) incash and cash equivalents-1,776

Profit before income taxes
increased, but an increase inworking capital had a negative
impactPurchase of property, plant and equipment: -2,813

Year-end and interim dividends: -1,032

Cash and cash equivalents
decreased due to capital
investment and dividends (anincrease in dividend payments)
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NIPPON FINE CHEMICAL CO., LTD.

3. FY2021 Topics (Portfolio)• Continued optimization of asset portfolio(1) Sale of impaired assets
Sold shared assets on which impairment losses were recorded in the previous
fiscal year (FY2020)⇒ Recorded a gain on sale of non-current assets of ¥37 million(2) Impairment of real estate for rent
Of the rental real estate we own, plan to sell properties with unrealized loss
⇒ Recorded an impairment loss of ¥89 million(3) Sold some cross-shareholdings and purchased treasury shares⇒ Recorded a loss on sale of investment securities of ¥2 million, resulting in a
total return ratio of about 45%

We will continue to work on optimizing our business and asset
portfolio

16

NIPPON FINE CHEMICAL CO., LTD.

3. FY2021 Topics (Sustainability, etc.)• Established Sustainability Committee and Sustainability Office
Materialities to be Addressed• Announced materialities (key issues
related to the Company) and set specificinitiatives as well as key performanceindicators (KPIs)• Declared our support for the Task Force on
Climate-related Financial Disclosures (TCFD)
recommendations⇒ Initiatives in line with the recommendations
are scheduled to be disclosed in June

Importance to Stakeholders⇒ Numerical goals are scheduled to bedisclosed in June

Human Rights
405: Diversity and Equal
Opportunity
408: Child Labor
409: Forced or Compulsory
Labor
412: Human Rights
Assessment
202: Market Presence
207: Tax
304: Biodiversity
406: Non-discrimination

Compliance
205: Anti-corruption
206: Anti-competitive
Behavior
418: Customer Privacy
419: Socioeconomic
Compliance

Environment
301: Materials
302: Energy
303: Water and Effluents
305: Emissions
306: Waste
307: Environmental Compliance308: Supplier Environmental
Assessment
413: Local Communities
Occupational Health and Safety

401: Employment
403: Occupational Health and
SafetyProduct Safety, Quality
414: Supplier Social
Assessment
416: Customer Health Safety
417: Marketing and Labeling* 404: Training and Education involves all five factors above

203: Indirect Economic Impacts
204: Procurement Practices
410: Security Practices
411: Rights of Indigenous Peoples
415: Public Policy

201: Economic Performance402: Labor/Management Relations
407: Freedom of Association and Collective Bargaining

Importance to Our Group17

NIPPON FINE CHEMICAL CO., LTD.

3. FY2021 Topics (IR-related)• Change in dividend policy⇒ Clarified the policy to improve and stabilize the level of dividends by targeting a
consolidated DOE (dividend on equity) of 3.0%

• Completion of transition to the Prime Market of the Tokyo Stock Exchange
Promoting compliance with the revised Corporate
Governance Code⇒ Independent outside directors now comprise a majority of themembers of the Nomination and Remuneration Committee⇒ Participating in the Electronic Voting Platform• Disclosure and enhancement of IR activities (from May 2022)⇒ Hold financial results meetings for institutional investors and analysts⇒ Scheduled to publish English disclosure materials (Consolidated financial results,financial results meeting materials and notices of general meeting of shareholders)
18

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Net sales are expected to increase year-on-year to reach record high, but operating profit is expected toremain flat
• Compared to the medium-term management plan, although net sales are not expected to reach thetarget, operating profit is expected to significantly exceed its target(Unit: Millions of yen)

FY2021
ActualActualamountam ount

FY2022
Forecast
Forecast
amountam
ountMedium -term Managem ent
Plan (Final year)
Year-on-year
TargetChangefrom
TargetChange fromYear-on-year
amountforecastchanges(%)
changes
am ount
forecast (%)(%)

Net sales

33,44836,000

7.6%

39,000-7.7%

Operating profit

4,881

4,850

-0.7%

3,900

24.4%

Ratio of operating profit (%)

14.6%

13.5%

Ordinary profit
Profit attributable toowners of parent
Basic earnings per share(Yen)
EBITDA(Operating profit before
depreciation andamortization)

10.0%

5,127

5,200

1.4%

3,472

3,500

0.8%

146.32148.20

5,952

5,850

* Assumed rates
120 yen per US$
130 yen per EUR* From FY2022, thedepreciation method
will be unified to thestraight-line method

-1.7%
19

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Trends in net sales, operating profit and ratio of operating profit
36,000Net
millions)
Netsales(Yen,sales (Unit:
Millions of yen)
Operatingincome(Yen,profit (Unit: millions)
Millions of yen)
Operating

33,448FY2017
Ratio of operating profit (%)
4,881

30,50928,084
3,199

27,59829,047
3,641

12.5%

2,749

3,939

4,850

14.6%
13.5%

12.9%

11.4%
10.0%

FY2017FY2018FY2019FY2020

FY2021

FY2022(forecast)

20

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022
・ Industrial Products: Raw material prices to rise, upfront investment in phospholipids for pharmaceuticals
・ Household Products: Net sales to increase, but operating profit to remain on par with the previous fiscal year
due to rising raw material prices
Reporting segment(Unit: Millions of yen)
Industrial Net sales
Products
Operating profit

FY2022

ChangesAmountRate

23,60025,600

1,999

8.5%

3,621

3,650

28

0.8%

15.3%

14.3%

8,646

9,100

453

5.2%

927

900

-27

-3.0%

Ratio of operating profit

10.7%

9.9%

Net sales

1,201

1,300

98

8.2%

332

300

-32

-9.8%

27.6%

23.1%

Ratio of operating profit
Household Net sales
Products
Operating profit

Other*FY2021

Operating profit
Ratio of operating profit*Other: Real estate business and the contract business of pharmacology and safety tests

21

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Status of net sales by major business category
Reportingsegment

Main business

Cosmetic IngredientsBusiness (cosmetic
ingredients)
Lanolin Cholesterol
Business

Industrial
Products

Lipid Business(phospholipids forpharmaceuticals)
Fine Chemicals BusinessHouseholdProducts

Arbos

Status(Year-on-yearchanges)+13%+1%

Overview (forecast)

The domestic market is expected to recover to pre-pandemic levels
over the next year. For overseas markets, the Company will focus onsales promotion activities that appeal to the needs of each country.
Overseas sales, which increased significantly in the previous fiscal
year (FY2021), are expected to continue performing well
Overseas sales expansion expected to remain stable

+5%

+13%
+7%

Functional coatings expected to recover and fatty acid amides to
grow

Expansion of the market for COVID-19 infection control products andspread of ARBONURSE brand can be expected
22

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Trends by segment
Industrial ProductsHousehold Products

Net sales for the second half (Unit: Million of yen)
Net sales for the first half (Unit: Million of yen)

* Full-year forecast

Net sales for the second half (Unit: Million of yen)

Ratio of operating profit (full year)* Full-year forecast

Net sales for the first half (Unit: Million of yen)
Ratio of operating profit (full year)

FY 2017

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022 (forecast)・Expected to achieve the largest year-on-year increase everin terms of net sales
・Profit margin to remain at a high level despite a year-on-year
declineFY 2017

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022 (forecast)・Net sales to increase year on year, to maintain increase frombefore COVID-19
・Profit margin to remain about the same as the previous fiscal
23
year, but at a higher level than before COVID-19

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Capital investment (based on non-current assets recorded) and depreciation
Steady implementation of the capital investment plan* of the medium-term
management plan is scheduled.
Period of the Medium-term Management Plan
Depreciation (Unit: Million of yen)

Expected total capital
investment of approx.
¥10,700 million

Capital investment (Unit: Million of yen)

*Capital Investment Plan
Total ¥10,000 million for
5 years until the end of
FY2022* From FY2022, thedepreciation method
will be unified to thestraight-line method
FY2017FY2018FY2019FY2020

FY2021

FY2022 (forecast)

24

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Progress status on major capital investment projects
Currently, progress is generally on scheduleBusiness

Lipid Business(phospholipids
forpharmaceuticals)

Investment project

Investment
amountProduction capacity, etc.

Scheduled dateof commencing
operations(1) New plant forphospholipids forpharmaceuticals¥2,700 million

・ Approximately twice thecapacity of the existing plant・ Suitable for manufacturing highvalue-added products in asmall to medium scale

2nd half of FY2022(2) New plant based on
the alliance with
Gilead(2) (3) Total¥3,100 million

Approximately twice the capacityof the existing plant

Around 2024

・ 5 stories
・ To be established together withresearch functions

1st half of FY2022(3) New office building
for phospholipids
for pharmaceuticals
Total Amount¥5,800 million

25

NIPPON FINE CHEMICAL CO., LTD.

4. Consolidated Earnings Forecast for FY2022• Announced dividend policy;* +19 yen / share year on year for FY2021 (dividend increase for
5 consecutive terms)• Dividend increase expected to continue in FY2022 based on the dividend policy
Dividends per share (Yen)Consolidated payout ratio (%)

Consolidated DOE (dividend on equity) (%)* Dividend policy
Aim to improve andstabilize the dividendlevel with aconsolidated DOE(dividend on equity)
target of 3.0%

FY 2016

FY 2017

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022 (forecast)

26

NIPPON FINE CHEMICAL CO., LTD.

5. Reference: Company Profile
Company NameNIPPON FINE CHEMICAL CO., LTD.

Securities Code, Industry

4362 (TSE Prime), Chemistry

EstablishedFebruary 1918

Location of Head OfficeChuo-ku, Osaka

President

Hiroshi Yano

Paid in Capital¥5,933 million

Number of Employees(as of March 31, 2022)

684(consolidated)

Net Sales(for the fiscal year ended March 31, 2022)¥33,400 million(consolidated)

Number of Subsidiaries(as of March 31, 2022)

7 companies(5 domestic, 2 overseas)
27

NIPPON FINE CHEMICAL CO., LTD.

5. Reference: Company History and Main Business Sectors* Please also see our 100th anniversary content(https://www.nipponseika.co.jp/en/company/100th).

100th
anniversary offounding

Made
Arbos
a subsidiary

Company namechanged to
Nippon Fine
Chemical
Phospholipids for

Acquired
Yoshikawa Oil
and Fat(Subsequently
merged)Listed on theFirst Section of
the Tokyo Stock
Exchange

Lanolin
Cholesterol

Ecola and Lano, Nippon Fine Chemical’slanolin mascot characters

pharmaceuticals
Established as
NipponCamphor Co.,
Oils and fats /Ltd.

Fatty acid chlorides
Fatty acid amides

Cosmetic
ingredients

Arbutin (active ingredient)

EselanNSC

Lipid complex for cosmetics (phospholipid materials)

Pharmaceutical intermediates

Resins / electronic materials

fine chemicals

PicoletCamphor /householdproducts

Arbos

CY 1918

1954

1966

1971

1990 1991 1994

1997

2018

28

NIPPON FINE CHEMICAL CO., LTD.

• Statements regarding earnings forecasts, etc. describedin this document are based on the information obtainedby the Company at the time of preparation of eachdocument and certain assumptions that it deems
reasonable, and are not intended to promise that they
will be realized.
• Please be aware that, due to various factors, actual
business results may vary from these forecasts.
• Ecolano and Presome are trademarks registered by
Nippon Fine Chemical Co., Ltd.