October 28, 2016
Company name: Tokuyama Corporation
Representative name: Hiroshi Yokota,President and Representative Director(Code No. 4043, First Section TSE)
Contact: Taro Kobayashi, General Manager,
Corporate Communications & Investor Relations Dept.
TEL: +81-3-5207-2552

Notice concerning Difference between Performance Forecast and Actual Resultsfor First Half Fiscal 2016, and Revision of Performance Forecast for Full Fiscal 2016
Tokuyama Corporation (hereinafter referred to as “Tokuyama” or “the Company”) announces thedifference between the performance forecast, previously disclosed on May 12, 2016, and actualresults for the first half fiscal 2016 (April 1, 2016 to September 30, 2016), as described below.
The Company has also revised the performance forecast for full fiscal 2016 (April 1, 2016 to March31, 2017), announced on May 12, 2016, as described below.
1. Difference between Performance Forecast and Actual Results for First Half Fiscal 2016
(1) Difference between Performance Forecast and Actual Results(April 1, 2016 to September 30, 2016)(Unit: Millions of yen)
Net sales
Previous forecast : (A)(May 12, 2016)
Actual results : (B)Difference: (B)－(A)Rate of change (%)[Reference]First Half Fiscal 2015

OperatingincomeOrdinary
incomeProfitattributableto owners ofparent

Basic earnings
per share (yen)145,000

14,50011,500

7,000

19.37

142,593

18,025

14,50918,44952.28(2,407)

3,525

3,009

11,449

－

(1.7)

24.3

26.2

163.6

－

149,128

7,549

5,262

2,783

8.00

(2) Reasons for the difference
Net sales were almost level with the previous forecast. Operating income and ordinary income werebetter than the previous forecast mainly due to lower-than-expected raw material and fuel prices.
Profit attributable to owners of parent exceeded the previous forecast owing to above-mentioned
reasons as well as posting 2.2 billion yen of the gain on subsidy income of Tokuyama Malaysia Sdn.
Bhd. (hereinafter referred to as “Tokuyama Malaysia”) and 1.9 billion yen of the gain on sales ofshares in Figaro Engineering Inc. as extraordinary gains for the first half of the fiscal year ending
March 31, 2017, and the decrease of tax expense due to having made the decision on the transfer ofTokuyama Malaysia.

12. Revision of Performance Forecast for Full Fiscal 2016 (April 1, 2016 to March 31, 2017)(1) Revision of Performance Forecast for Full Fiscal 2016
(Unit: Millions of yen)
Net sales
Previous forecast : (A)(May 12, 2016)
Newly revised forecast :(B)Change: (B)－(A)Rate of change (%)[Reference]
Fiscal 2015

OperatingincomeOrdinary
incomeProfitattributableto owners ofparent

Basic earnings
per share (yen)302,000

32,00027,00017,00046.68

291,000

33,00027,00021,00058.18(11,000)

1,000

0

4,000

－

(3.6)

3.1

0.0

23.5

－

307,115

23,071

17,725(100,563)(289.10)(2) Reasons for the revision
The performance forecast for the full fiscal year ending March 31, 2017 has been revised as abovefrom the previous performance forecast released on May 12, 2016, due to the revised forecast ofraw material and fuel prices as well as exchange rate, and the impact of transfer of Tokuyama
Malaysia.

(Note) The performance forecast and other forward-looking statements contained in this material
have been prepared on the basis of information available at this point and certain assumptions
which are judged to be rational, and may be substantially different from the actual performance
because of various factors that may arise from now on.

2