July 31, 2014
Company name: Tokuyama Corporation
Representative name: Kazuhisa Kogo,
President and Representative Director(Code No. 4043, First Section TSE)
Contact: Taro Kobayashi, General Manager,
Corporate Communications & Investor Relations Dept.
TEL: +81-3-6205-4832

Notice concerning Revision of Performance Forecast
Based on the current performance trend, Tokuyama Corporation (“the Company”) has revised theperformance forecast, announced on April 30, 2014, as described below.
1. Revised Consolidated Performance Forecast for Fiscal 2014
(1) Performance Forecast for the First Half Fiscal 2014 (consolidated)(April 1, 2014 to September 30, 2014 )(Unit: Millions of yen)
Net sales
Previous forecast : (A)(Apr. 30, 2014)
Newly revised forecast :(B)Change: (B)－(A)Rate of change (%)[Reference]First Half Fiscal 2013

OperatingincomeOrdinary
incomeNet income

Net income
per share (yen)146,000

7,500

4,500

3,000

8.62

144,000

10,000

7,500

6,000

17.25

(2,000)

2,500

3,000

3,000

－

(1.4)

33.3

66.7

100.0－

135,034

7,811

6,094

4,518

12.99

(2) Performance Forecast for Fiscal 2014 (consolidated)(April 1, 2014 to March 31, 2015 )(Unit: Millions of yen)
Net sales
Previous forecast : (A)(Apr. 30, 2014)
Newly revised forecast :(B)Change: (B)－(A)Rate of change (%)[Reference]
Fiscal 2013

OperatingincomeOrdinaryincome

Net income

Net income
per share (yen)303,000

16,50010,000

6,500

18.68

300,500

18,50013,500

9,500

27.31

(2,500)

2,000

3,500

3,000－

(0.8)

12.1

35.0

46.2－

287,330

20,27014,965

10,21829.37

2. Revised Non-consolidated Performance Forecast for Fiscal 2014
(1) Performance Forecast for the First Half Fiscal 2014 (non-consolidated)(April 1, 2014 to September 30, 2014 )(Unit: Millions of yen)
Ordinary
incomeNet sales
Previous forecast : (A)(Apr. 30, 2014)
Newly revised forecast :(B)Change: (B)－(A)Rate of change (%)[Reference]First Half Fiscal 2013

Net income

Net income per share(yen)

90,000

4,500

4,000

11.50

91,000

8,000

7,500

21.56

1,000

3,500

3,500

－

1.1

77.8

87.5

－

－－－－

(2) Performance Forecast for Fiscal 2014 (non-consolidated)(April 1, 2014 to March 31, 2015 )(Unit: Millions of yen)
Ordinary
incomeNet sales
Previous forecast : (A)(Apr. 30, 2014)
Newly revised forecast :(B)Change: (B)－(A)Rate of change (%)[Reference]
Fiscal 2013

Net income

Net income per share(yen)191,000

7,000

6,500

18.68

192,000

11,00010,500

30.18

1,000

4,000

4,000－

0.5

57.1

61.5

－

177,863

10,30910,461

30.07

3. Reasons for the revision
With regard to the non-consolidated performance forecast for fiscal 2014, net sales are expected to
be about level with the previous forecast.
Ordinary income is expected to exceed the previous forecast. This is largely due to the fact that weexpect our profit improvement efforts including cost reductions will contribute to an improvementin earnings.
Net income is expected to be above the previous forecast, owing to the above-mentioned reasons.
With regard to the non-consolidated performance forecast, operating income is not disclosed.
With regard to the consolidated performance forecast for fiscal 2014, net sales are expected to beabout level with the previous forecast.
Operating income is expected to exceed the previous forecast. This is mainly due to the fact that weexpect our profit improvement efforts including cost reductions will contribute to an improvementin earnings.
Ordinary income and net income have been revised upward, for the same reasons as thosementioned in the non-consolidated performance forecast.
Therefore, the Company has revised the performance forecast, announced on April 30, 2014.

(Note) The performance forecasts 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.