Corporate Profile

Osaka Head Office
1-15-14 Minami-semba, Chuo-ku, Osaka 542-8558
Tokyo Head Office (temporary location)
Muromachi Furukawa Mitsui Building (COREDO Muromachi 2),
2-3-1 Nihonbashi Muromachi, Chuo-ku, Tokyo 103-8448
Note: Due to reconstruction work on the Tokyo Head Office building (2-8-2 Nihonbashi
Honcho, Chuo-ku, Tokyo), we are operating at the temporary location stated abovefrom December 2022 to September 2025.

August 31, 2023

Message from the President

We will enhance capabilities unique to a shosha,
or Japanese trading company, to create value thatmeets the needs of our times.

Love (ai) and Respect (kei)Inabata Group was founded in Kyoto in 1890 as an importer and seller ofsynthetic dyes, and it has since expanded with the chemicals business at
its core. The Inabata Group now boasts a network of approximately 60
Iocations across 19 countries outside Japan, with overseas businessaccounting for roughly 60% of its consolidated net sales.
We have developed a long-term vision based on what we envision for
our future to achieve sustainable growth while keeping pace with theacceleration of business globalization and market changes.
Long-term vision: IK Vision 2030
What Inabata envisions for its future around 2030

Mission

Function

Scale of operation

Further enhancing multifaceted capabilities
such as manufacturing, logistics, and finance,in addition to trading

Achieving more than 1 trillion yen
in consolidated net sales at an early stage

People come first, based on the spirit of “love (ai) ” and “respect (kei),”and together we strive towards contributing to the development of society

Net sales and operating profit
generated outside of Japan
70% or more

VisionTo continually evolve, serving clients and society,through global operations and meeting their changing needs

IK Values
To cherish integrity and respect for people (ethics)

Portfolio
At least one-third of sales and operating profit
from business segments other than the Information& Electronics and Plastics segments

We will continue to create value that meets the needs of our times by
providing highly advanced solutions that combine the various functions(such as sales, manufacturing, logistics, and finance) that we havecultivated over the 130 years since the founding of our Company, alongwith the close collaboration of our bases around the world. In addition,
we are working on our medium-term business plan, New Challenge 2023
(NC2023), as the second stage toward shaping our long-term vision. We
will stride ahead as a company needed by society and the customers byworking toward achieving our medium-term business plan with an eye on
our long-term vision.

To continually challenge the limits with high ideals, big dreams and great passion (aspiration)
To prize dialogue and teamwork, and to treasure professional growth of employees (organization)

Medium-term business plan NC2023: Key strategies

To become the best partner of our clients, providing solutions from the clients’ standpoint (role)

1. Further development of core businesses and horizontal expansion into growth sectors

To grow with people across borders, sharing and respecting diverse values with the aimof co-prosperity (symbiosis)

2. Multifaceted approach to markets with potential for future growth and steady monetization efforts
3. Intensification of investment targeting future growth
4. Further upgrades to global management information infrastructure
5. Continuous review of assets and further improvement of capital and asset efficiency
6. Enhancement of human capital utilization efforts

We look forward to your ongoing support and encouragement.

Katsutaro Inabata
President

12Our Company The Process of Value Creation

We will create new value that contributes to serving ourcustomers and the development of society based on
the humanitarian spirit of “love (ai)” and “respect (kei).”

Capital and strengths(inputs)

Businesses and functions

As our customers expand their global presence, our strength lies in our ability to provide specialized services bysupplying them a wide range of materials that meet local needs. Our value creation originates from our human assetof roughly 4,300 employees spread across approximately 60 bases in 19 countries around the world and knowledge
gathered from our everyday business activities. Our global-minded staff with highly specialized expertise in chemicals
and other fields combine their advanced knowledge with various functions, such as manufacturing and processing,
distribution, finance, and product development, to resolve issues faced by customers and generate new businesses indifferent regions around the world in the fields of information and electronics, chemicals, life industry, and plastics.

Value creation (outcomes)

Business plan

Inabata Group Maximizing corporate value
SocietyHumancapital

Employee satisfactionlevel indicated by theengagement survey

Information & Electronics

76%
Manufacturing& Processing

Logistics

Medium-termbusiness plan:
NC2023Social andrelatedcapitalApproximately

10,000companies

Financial
capitalProduct
Development

Life Industry

Consolidated
net sales
800 billion yen• Providing diverse products andsolutions that respond to change• Creating a decarbonized andrecycling-oriented society• Conserving biodiversity

Consolidated
net sales
1 trillion yen

Inabata Group• Building solid and trusting
relationships with stakeholders• Improving employee well-being
and value creation

Net D/E ratio

0.16x• Building a resilient supply chain

Society

Environmental
FinanceInabata Group• Maximizing cash flow

Inabata Group

Creating value
by evolving our businessTrading(Suppliers and customers)

Financial

Operational

Chemicals
Customer baseLong-term
vision:IK Vision
2030

Realizing a sustainable society

SocialPlastics

Society• Creating a society that respects
human rights• Building an enriched society witha high quality of life and ensured
safety and security

Governance
Enhancing our strengths and increasing financial andnon-financial capital
The Inabata way ofcorporate governance“Honesty is the only
way to earn trustof society.

3”

Money should be earned by hard work. We
should steadily walk the tough path, without
thinking about earning money by luck or
speculation. Human being must be honest.
We must not rely on others. The only way toearn trust in society is to have a sincere heart.

“

The Inabata way of social symbiosis

Katsutaro Inabata
Founder

Contributing to thedevelopment of society
as a whole through ourfields of expertise.

”

Our founder, an engineer who studied appliedchemistry in his early years, valued his conscienceand despised deception. Such a conscience isthe foundation of our Company. Behavior inaccordance with our mission — contributing to thedevelopment of society as a whole through ourfields of expertise — as well as that spiritual
foundation, are what defines our Company creed.

Katsuo Inabata
Fourth President

4Our Company
The Evolution and Structural Reorganization of the Chemicals Business
Since we started importing dyes in 1890, we have expanded our business around chemicals
that form the foundation of all kinds of industries, responding to the changing needs of ourclients and society.

1890 –

1945–

Early Period

The era of founding and growth

1984–

Growth Period

The era ofrestructuring
and revival

We started with the import and sales of dyes and dyeing &weaving machines and expanded our business aroundthe chemicals field.

We advanced into new domains
while strengthening thepharmaceuticals business,amid post-war chaos in
the country.

Mask blanks

Founder and dyes

April 1959

February 1920

The era of progressand creation

We created new value by
separating the pharmaceuticals
business and expanding
overseas bases.

We are striving to become ourclients’ best partner as a shosha,
or Japanese trading company,
providing manufacturing, logistics,
and finance solutions backed byour highly specialized knowledge.

Polarizing film materials for
LCDs

Pellicles

Machinery division

Spinning machine (Société Alsacienne deConstructions Mécaniques)

April 1977

Machinery and
Metals division

February 1941
Closed down

May 1983

Machinery andHousing Materials
division

Encapsulant for LEDs

Information &Electronics
Information &Electronics Division I

April 1999

Machinery andElectronics Materials
division

IT and Electronics
division

Restarted business with Société Alsacienne deConstructions Mécaniques in 1959 andestablished the Machinery and Metals division

Materials for solar power
generation

June 1918

Silicone

Chemicals for papermaking

Dyes for printers

Note: There is no capital relationship with our Company now.

Dyeing division

Chemicals

June 1918

Perfumes
Imported
pharmaceuticals

Information &Electronics Division III

The Perfume division separated in 1926 to become an independent
entity and a limited partnership company Inabata Koryoten is established.
The name was changed in 1966 to Inabata Koryo.

Dyes

Dye samples of Nippon Senryo Seizo K.K.

Information &Electronics Division II

Renewable energy materials

Limited partnership company Inabata Koryo

Additives for plastics and rubber

The FourthFounding Period

The era of challenges
and hardship

Our founder went to study in France on government sponsorship at the age of 15. There, he studied cutting-edge
synthetic dyes and dyeing techniques of the time for eight years and brought back the knowledge to Japan.
1897

2010 –

Reform Period

January 1958

Trading division
October 1946

Pharmaceuticals
division

Pharmaceuticals
division

Pharmaceuticals

Chemicals Division

Chemicals division

January to
November 1933

Materials for insecticides

Succeeded the pharmaceutical substances businessPharmaceuticals business separated October 1984
Sumitomo Pharmaceuticals Co., Ltd. (now Sumitomo
Pharma Co., Ltd.) was established as a joint venturewith Sumitomo Chemical Industry Co., Ltd. (nowSumitomo Chemical Co., Ltd.)Cornstarch

October 1975
Food division

Poleon Tablets
1941
Advertisement inShukan Asahi

Particle boards

Shrimp for processing

Adhesives for plastics

Started sellingcornstarch, which is apaste for cardboards, tothe food industry as an
auxiliary raw material forbeer brewing

Blueberries

April 2012

Life sciences-related
products and servicesof the Chemicals
Division integrated
with the Food division

April 2019

Chemicals Division and Housing& Eco Materials Division
restructured

Life Industry
Life Industry Division
Materials for regenerative
medicine

October 1963
Housing Materials division

Vinyl chloride

October 1961

Plastics

1963 Entered the housing materials industry withthe sale of adhesives for plywood

Plastics Division I

Plastics division

Plastics Division II

Plastics division spun off from Chemicals division
Also expanded market to durable consumer goods as the types of plastics
increased and processing methods advanced

Flow of major structural
reorganization and the timing of
the start of dealing in major items

5

Resins(polypropylene, etc.)

Compounding of resins

Sporting goods

Film products

6

Our Company History of Global Expansion
IK Vision 2030

Inabata’s overseas business dates back over 110 years.
In 1908, we set up a branch in Tianjin, China to develop
a market for dyes. We later expanded to Europe as
well, establishing a representative office in Brussels,
Belgium in 1937 as a general agency for Nippon Senryo
Seizo K.K. From 1938, we set up bases in the Chinese
cities of Mukden (now Shenyang), Shanghai, Tianjin,
Qingdao, Dalian, and Jinan, and in Batavia (nowJakarta), Hanoi and Keijo (now Seoul) to sell dyes andpharmaceuticals. We had expanded to a total of 13
bases in five countries before World War II. Even
though we lost all our bases due to the war, weestablished our first post-war overseas subsidiary in
Singapore about 30 years later in 1976. Nearly half acentury since then, we have actively expanded ouroverseas business and have now built a network ofapproximately 60 bases in 19 countries, resulting inoverseas sales amounting to around 60% of total sales.

Overseas sales

70%

51%
Overseas sales ratio

25%

Trends in overseas sales
Japan sales

60%

Notes: 1. Financial statements consolidated from FY1991
2.Overseas sales ratio refers to the proportion of sales by overseas bases.

3/70 3/71 3/72 3/73 3/74 3/75 3/76 3/77 3/78 3/79 3/80 3/81 3/82 3/83 3/84 3/85 3/86 3/87 3/88 3/89 3/90 3/91 3/92 3/93 3/94 3/95 3/96 3/97 3/98

3/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18 3/19 3/20 3/21 3/22 3/23

Around 2030

History of overseas expansion after World War II
1970s
2 countries, 3 bases

1980s
9 countries, approx. 20 bases

1990s
11 countries, approx. 40 bases

2000–200915 countries, approx. 70 bases

2010–2023
19 countries, approx. 60 bases

Main trading companies Note: Photos are buildings in which our offices were launched.
1976 Singapore

1988 Belgium

1987 Thailand (Bangkok)

1990 France (Paris)(Brussels)
lnabata Europe S.A.*(now Inabata Europe
GmbH)*Moved to Germany
in 2013

Siam Inabata Co., Ltd.
(now lnabata Thai Co., Ltd.)

Established the firstoverseas sales base afterWorld War II
lnabata Singapore (Pte.) Ltd.

1988 China (Hong Kong)
Inabata Sangyo (H.K.) Ltd.

Inabata France S.A.R.L.
(now Inabata France S.A.S.)

2000 United Kingdom (London)
Inabata UK Ltd.

2008 India (New Delhi)
Inabata India Private Ltd.

2013 Turkey (Istanbul)
Inabata Singapore(Pte.) Ltd., Istanbul
Representative Office2013 Brazil (Sao Paulo)
Inabata Brazil Importand Export Ltd.

2013 Germany (Dusseldorf)

1978 United States (New York)lnabata America Corp.

1988 Malaysia (Kuala Lumpur)
Inabata Malaysia Sdn. Bhd.

1989 Taiwan (Hsinchu)
Taiwan Inabata Sangyo Co., Ltd.

1991 Indonesia (Jakarta)
PT. Inabata Indonesia

1996 China (Shanghai)
Shanghai Inabata Trading
Co., Ltd.

1998 Philippines (Manila)

2006 South Korea (Seoul)
Inabata Korea & Co., Ltd.

2006 Poland (Torun)
Inabata Poland SP. z o.o.**Liquidated in February 20142008 Vietnam (Hanoi)
Inabata Vietnam Co., Ltd.

lnabata Philippines, Inc.

2010 Switzerland (Zug)Inabata France S.A.S.,
Lisses, Zug Branch**Liquidated in December 20112012 Mexico (Queretaro)
Inabata Mexico, S.A. de C.V.

2013 Myanmar (Yangon)
Inabata Thai Co., Ltd.,
Yangon Branch

Inabata Europe GmbH2015 UAE (Dubai)
Inabata Europe GmbH
Middle East (Branch)**Closed in June 20192022 Australia (Brisbane)
Inabata Australia Pty. Ltd.

2023 Czech Republic (Prague)
Inabata Europe GmbH,
Czech Branch

Main manufacturing and processing bases
1978 Singapore
Established Sanyo-IK Color (Pte.) Ltd.* througha joint venture with Sanyo Kako Company Ltd.
for manufacturing plastic compounds.
*Merged with Inabata Singapore (Pte.) Ltd. in
July 2013This became
the foundationfor our key
business ofplastic
compounds.

7

1987 Thailand (Samut Prakan) 1989 Philippines (Manila)
SIK (Thailand) Ltd.

1989 United Kingdom

SIK Philippines Ltd.**Liquidated in June 2012

(Telford)

1995 Indonesia (Bekasi)
PT. S-IK Indonesia

2006 France (Normandy)
Pharmasynthese S.A.S.

IK-Tech de Mexico,
S. de R.L. de C.V.**Liquidated in March 2016

2002 China (Dalian)

1994 Malaysia (Johor)
SIK Color (M) Sdn. Bhd.

Inabata Industry & Trade(Dalian F.T.Z.) Co., Ltd.

2003 Vietnam (Haiphong)
SIK Vietnam Co., Ltd.

NH Inabata, S. de R.L. de C.V.

2009 Mexico (Tijuana)

1995 China (Dongguan)
Sanyo-IK Color (H.K.) Ltd.**Liquidated in January 2023

IK Precision Co., Ltd.**Liquidated in March 2006

2008 Mexico (Monterrey)

2009 Indonesia (Bekasi)

2007 China (Shanghai)2012 Mexico (Silao)
IK Plastic Compound Mexico,
S.A. de C.V.

2013 Philippines (Binan)
IK Plastic Compound Phils. Inc.

2013 Vietnam (Da Nang)

2021 Australia (Brisbane)
IKC Feed Pty. Ltd.**Currently under liquidation

2022 Thailand (Chonburi)
Clover Plastics (Thailand)Co., Ltd.

Apple Film Da Nang Co., Ltd.

PT. Inabata Creation
Indonesia

Shanghai Inabata Fine
Chemical Co., Ltd.

8

Our BusinessInabata Group operates in the four segments of Information & Electronics, Chemicals, Life
Industry, and Plastics. There are seven business divisions at Inabata & Co., Ltd.

Information & Electronics

Net sales

Operating profit(Billions of yen)(Billions of yen)

300

With LCD components, materials for digital printing, materials
for semiconductors, and other products as our
income-generating pillars, we are also venturing into new fields
such as automobiles and life sciences. In addition, we arefocusing on the fields of IoT and renewable energy, which are
expected to grow.

Information & Electronics Division I
Information & Electronics Division II
Information & Electronics Division III

224.5

247.7 238.0

6.42

5.26

200
4

Exploring new businesses centered around FPDs

100

P11
0

P12

FY2020 FY2021 FY2022

0

FY2020 FY2021 FY2022

Net sales

Operating profit(Billions of yen)(Billions of yen)

89.8

100

With firm roots in our founding business of dyes, we deal inchemicals that serve as a platform for all kinds of industries.
In April 2019, we integrated the Chemicals Division and the
Housing & Eco Materials Division, which was dealing withmaterials that are close to final products, to provide optimum
products and services to the entire value chain.

2.77

3

78.6

The Information & Electronics Division I provides
services to a wide array of customers all over the world
with a global supply chain it has built through its businessin the flat panel display (FPD) industry dealing mainly
in LCDs and organic LEDs (OLEDs), as well as the
LED-related industry.
Our major strengths are our capability to propose ideasthat leverage our global network based on our highly

2.20

66.6
2

specialized knowledge, in addition to building processing
and distribution networks for supply of competitive
materials and other products.
Keeping business with existing customers at ourcore, we seek to expand into new fields, such as
semiconductors and electronics components along with
FPDs, by strengthening relations with clients in Japanand other countries.

1.32

50
1

P13
0

Life Industry
After Sumitomo Pharmaceuticals Co., Ltd. (now Sumitomo
Pharma Co., Ltd.) was established following the separationof our pharmaceuticals division in 1984, we focused on sales ofraw materials for pharmaceutical products as our main businessand also expanded into the food industry. We aim to offer
consumers healthy and comfortable lives as a provider ofpharmaceuticals and food products.

Life Industry Division0

FY2020 FY2021 FY2022

Net sales

Operating profit(Billions of yen)(Billions of yen)

60

3

37.3

38.2

2.61

43.6
2

1.93
1.56

30
1

0

We deal in a wide range of products, from commodity resins tohigh-performance resins, operating seven plastic compounding
factories overseas and five film manufacturing factories in Japanand abroad. We also strive to develop environmentally friendly
products such as biomass, recycled, and biodegradable plastics.
P15

FY2020 FY2021 FY2022

Products & Services
Sales Department I

Sales Department III

We leverage our long-standing network in the industry to provide
timely services tailor-made to our customers’ requirements.

We handle electronic components other than semiconductorand display-related components. We also engage in investment
and M&A.

Products

P14

Plastics

Plastics Division I

6.32

P10

Chemicals

Chemicals Division

Information & Electronics Division I

8

Plastics Division II

FY2020 FY2021 FY2022

0

FY2020 FY2021 FY2022

Polarizing films, materials for polarizing films, alignment layer materials,
color resist, materials for backlights, materials for OLEDs, various surface
treatment equipment, various types of films, driver ICs, materials for
non-woven masks, 5G circuit boards

Net sales

Operating profit

Sales Department II(Billions of yen)(Billions of yen)

We sell a wide variety of products such as displays, device
manufacturing equipment, plastic for LED encapsulants, andmaterials for display parts. We are also focused on automotive
and semiconductor-related products.

363.9

400

15

316.2
248.8

10.20
8.67

10

200

5.63

0

FY2020 FY2021 FY2022

0

Silicon carbide wafers, lithium tantalate wafers, nickel powder, non-volatilememory, semiconductor devices, etc.

Products

Encapsulants for LEDs, materials for special-use tape, devices related
mainly to LCDs and OLEDs, power semiconductor circuit boards, lightcontrol films, various sensors

5

P17

Products

FY2020 FY2021 FY2022

Notes: 1. Figures are rounded down to the nearest 0.1 billion yen.
2. The Accounting Standard for Revenue Recognition and other standards have been applied to the figures since FY2021.

910

Information & Electronics Division II

Information & Electronics Division III

Harnessing our strengths as a shosha to expand
digital printing and imaging business

Strengthening businesses in renewable energy,
IoT, and other growth markets

The Information & Electronics Division II provides a wide
range of materials for the digital printing industry, such as
inkjet, electrophotography, and 3D printers, as well as forvarious imaging-related businesses. We also propose
unique ideas to customers, based on our highly
specialized knowledge of the industry, which we havecultivated over our long history. We work closely with
Inabata Group companies throughout the world to provide
customers with a wide variety of services, including
distribution management.

Additionally, we are developing business in new fields. In
the agriculture field, we are developing new products andservices to improve farmers’ productivity and proactively
promoting overseas expansion. In the automobile field,
we are leveraging decorative film and a unique decorating
technology called the 3D overlay method (TOM).

The Information & Electronics Division III provides highly
specialized solutions that cover a wide range of activities,
from supplying raw and processing materials to
manufacturing products, in various fields such as
renewable energy-related items, batteries, semiconductors
and electronics components, and industrial materials.
We make meticulous efforts to meet customer needs.
Our extensive global network enables us to source
optimum materials. Our services include vendor managed
inventory (VMI), utilizing our strengths as a trading company.
In the field of renewable energy, which is expected to be
the energy source of the future, we are focusing on thebusiness of electric power via solar power generation
and biomass power generation, in addition to materials
for solar cells. Going forward, we will develop ourbusiness with fuel cells and hydrogen generationequipment in mind, with an eye toward the future

Products & Services

We are also working on the IoT services business to makethe tasks of “detecting how things are working” and“knowing the condition of things,” which had been
dependent on manual labor, more efficient through IoT.
We will continue to strive to develop human resources
with specialized knowledge and skill, as well as strengthen
our global network. Our goal is to serve as a solution
provider to resolve the problems faced by our customers.
It is through activities such as these that we aim to realize
a harmonious coexistence with nature and to ensure asustainable society and a bright future.

Products & Services

Sales Department I

Sales Department II

Sales Department I

Sales Department III

We sell materials for toners and materials for peripheral
components to the electrophotography industry. We also sell 3D
printer-related products and film-related materials. We have also
entered new fields such as agriculture.

We sell materials for ink and materials for peripheral components
to the inkjet printer industry.

We sell various industrial products.

Products

We sell products and materials for energy-related fields such asenergy generation, energy storage, and environmental materials,
as well as IoT systems.

Various industrial, electronics, and optics materials
Various industrial and electronics materials, such as functional films(industrial, electronics, and optics use), carbon fiber, fluorine resin, silicone,
glass, non-woven fabric, and adhesives; 3D sensors and sensor materials,
robots, wireless chargers, materials related to 5G technology, materials
related to apparel, sanitary materials, phosphorescent materials, heatstorage materials, biochemicals, custom chemical synthesis and film
deposition, testing equipment for rapid temperature changes

Products

Materials for toners, developers
Resins, pigments, wax, various additives, etc.
Various functional materials
Silicone products, lubricants, film materials, anti-static coating agents,
conductive coating agents, filament materials for 3D printers, etc.
Agriculture
Various agricultural products, animal feeds, dairy-related materials

Ink ingredients
Dyes, pigments, solvents, resins, various additives
OthersResins, film products, molded components, etc.

Sales Department III
We sell materials and equipment for products related to imaging,semiconductors, and automobiles.
Products

Optical film materials
Resin additives, plasticizers, various functional additives, etc.
Various functional materials
Materials for semiconductors, photographic chemicals, printing plates,
ceramic materials, high-performance resins (including resin processing),
various intermediates (including custom synthesis), etc.

11hydrogen society. Furthermore, we are also focusing
on lithium-ion batteries, the main power source forenvironmentally friendly electric automobiles, and are
expanding our battery materials business.

Materials related to decorative films
Various films for automobiles, building materials, and home appliances,
as well as TOM forming machines, etc.

Products

Sales Department II
We sell materials for semiconductors, electronics components,
and automotive parts.
Products

Semiconductor and electronics peripheral components
Mask blanks, pellicles, anti-reflective materials, epoxy encapsulants andtheir materials, dicing tapes, wafer coating materials, compound
semiconductor wafers, aluminum, functional films, heaters forsemiconductor manufacturing

Products

Energy generation
Solar power generation system-related items (solar panels, power inverters,
mounting structures), photovoltaic materials (silver paste, encapsulants),
hydrogen energy (AEM* electrolysers, fuel cells), biomass power
generation (biomass power generators, biomass fuel)*AEM: anion exchange membrane

Energy storage
Lithium-ion battery materials, battery manufacturing equipment,
capacitor materials
Environmental materials
Fluorine resin films for agriculture, highly biodegradable electrical insulation oil
Automatic meter reading systems
Various IoT systems

Materials for automotive parts
Epoxy encapsulants, alumina

12Chemicals Division

Life Industry Division

Providing a wide range of chemical materials catering
to industrial products, automobiles, and housing

Pursuing food and life science businesses that leadto healthy, comfortable lifestyles

The Chemicals Division leverages our advantages as a
shosha, or Japanese trading company, with manufacturing
and processing bases to offer optimum products,
materials, and services to customers, by creating synergy
between the three chemicals departments that handle theupstream to midstream value chain, and the Housing
Materials Department, which deals with the downstream,closer to the final product.
The Specialty Chemicals Department mainly sells
materials and intermediates for the industry related topetrochemicals, such as plastics, urethane, and fibers.

The Performance Chemicals Department provides a wide
range of materials, such as additives and solvents, to themainstay paints, inks, and adhesives industries. The
Mobility Chemicals Department sells materials for friction
materials, gaskets, tires, thermal interfaces, and othermaterials used in automobiles as well as ships and aircraft.

The Life Industry Division is expanding two of its businessareas: the food business, which handles agricultural andmarine products, and the life science business, whichmainly deals in materials for pharmaceuticals andconsumer goods, such as insect repellents andinsecticides, detergents, and deodorants.

In addition, the Housing Materials Department deals inenvironmentally friendly building materials required by
the housing, housing materials, and housing equipment
industries, as well as particle board, lumber, housing
equipment, and plastic products.

Our life science business offers total solutions
ranging from the manufacturing of raw materials forpharmaceutical products and intermediates overseas,procurement of raw materials for pharmaceutical products
and equipment and materials for regenerative medicine,
custom synthesis, and pharmaceutical logistics services,
to material procurement, planning and development, andcontract manufacturing for household goods.

Products & Services
Mobility Chemicals Department

We sell, manufacture on contract, and process materials andintermediates for the plastic, urethane, synthetic fiber, and finechemical industries. We support environmentally friendly
procurement in line with business continuity plans (BCPs). We
also provide materials for papermaking and cardboard, as well as
materials for data recording papers.

We sell materials for automobile parts and chemicals.
Products

Thermal interface and its materials for EVs, materials for friction
materials, materials for gaskets and tires, materials for airbags,
display parts for automobiles

Products

Housing Materials Department

Synthetic resin and fiber materials, catalysts, antioxidants, ultraviolet
absorbents, solvents, polymerization initiators, functional resins, silicone,silane products, health care-related products (silicone tubes), materials
for data recording papers, materials for polyurethane form, products forpipelines, materials for public infrastructure and civil engineering related, etc.

We sell a wide range of materials and products for housing,housing materials, and housing equipment manufacturers. We
import and sell materials for laminated timber makers, and export
and sell products in overseas markets.

We provide a wide range of resins and coating materials for thepaint, ink, and adhesive industries.
Products

Resins, resin materials, anti-foaming agents, anti-fouling agents, viscosity
modifiers, pigments, etc.

In addition, we are striving to conduct trilateral business,such as marketing Japanese food products like shrimp
tempura, nori seaweed, wasabi, and frozen sushi tooverseas markets, along with marketing frozen fruits andvegetables grown in North and South America to the
Asian market.

Products & Services

Specialty Chemicals Department

Performance Chemicals Department

In the food business, we not only import and sell safe andreliable agricultural and marine products from around theworld, but also grow blueberries, cultivate wakame
seaweed, and process marine products in Japan, andengage in agricultural and marine product processing in
Vietnam. Our business covers a wide area from upstream
to downstream.

Products

Particle boards (fiber board), home interior products, home exterior
products, plumbing products, adhesives for wooden boards, molded plastic
products, etc.

Life Science Osaka Sales Department,Life Science Tokyo Sales Department

Food Department

We support global material procurement for everything fromconsumer goods to pharmaceuticals used in various scenes in
the life sciences field. We also provide total solutions for building
supply chains for various types of products.

From farm to table, we provide safe and reliable agricultural andmarine products to the world. We also generate new business in awide range of fields and regions, from upstream to downstream,such as growing blueberries in Hokkaido, and processing
agricultural and marine products in Japan and Vietnam.

Products

Products

Pharmaceutical, regenerative medicine, chemical industries
Active pharmaceutical ingredients and intermediates, materials andequipment for regenerative medicine, special reagents for chemical
synthesis, catalysts, other fine chemical materials

Agricultural products
Frozen fruits such as blueberries, mangos, grapes, and strawberries; frozen
vegetables such as spinach, broccoli, kabocha squash, and burdock root;and dried vegetables including perilla, nozawana, coriander, etc.

Consumer goods industry
Substances for insect repellents and insecticides, attractants, solvents,
adhesives, other fine chemical materials, materials for daily goods,
cosmetic substances

Marine products
Shrimp, crab, shellfish, squid, yellowtail, eel, tuna, whitebait, wakame
seaweed, frozen sushi, etc.
Environment related
Microbial preparations for drainage facility sludge reduction, food residue
treatment equipment, etc.

Import products and materials
Materials for laminated timber, laminated veneer lumber (LVL),
wood chips, etc.
Export products and materials
Wood-plastic composite (WPC) decks and home exterior products, resins
for housing equipment, etc.

13

14

Plastics Division I

Growing with our customers as a partner providing
creative solutions
In the Plastic Division I, the Polymer Department I and thePolymer Department II deal in daily goods as well as
commodity plastics for building and engineering
materials. The Performance Plastics Department deals inhigh-performance resins and related materials for home
appliances, office automation (OA) equipment, andelectric and electronic products. The Automotive Products
Department I and the Automotive Products Department II
deal in plastic compounds and high-performance resins forautomobiles and motorcycles.
We operate a total of seven plastic compounding
factories across six Asian countries and Mexico, providing
comprehensive support from material selection toprocessing. We are aiming to improve our ability to gather
information by training local staff, which includes measures
such as stationing plastic specialists at overseas locations
and proactively promoting local staff to managerial positions.

We also have our own warehouses overseas and areworking to enhance our logistics functions. By improving
our overseas bases in this way, we can provide meticulous
support to customers who wish to move factories
overseas or begin production abroad. In addition to plastic
compounds, we will also engage in joint ventures andcross-industry collaborations while further strengthening
and expanding our manufacturing bases and processing
technologies in Japan and overseas, taking advantage of theGroup’s strengths in excellent development capabilities andunique technology.

Business model for the plastic compound business
Asia

Local factoryof resinmanufacturer

Base resin

We sell plastics, molded plastic products and machinery for
use with building materials, engineering materials, daily goods,
automotive components, electrical materials, food containers, andmedical supplies to a wide range of industries around the world.
Products

Vinyl chloride plastics, plasticizers, additives, commodity resins (olefin type,styrene type, PET resins), various compounds, synthetic rubbers, plastic
products (profile extrusion products, film and sheets, packaging materials),molding machines and auxiliary equipment, environmentally friendly resin,energy-saving equipment

Performance Plastics Department
We offer an optimized supply of plastic materials globally with afocus on OA, home appliance as well as electric and electronic
product markets. We act as a coordinator between clients andsuppliers. For Japanese customers planning for global expansion,
we offer support through market surveys and by providing
information such as on labor and legal issues.
Products

From commodity plastics to super engineering plastics, molding machines
and auxiliary equipment, laser welding machines, specially molded plastic
products and related materials, recycling materials

15

Inabata’s local
trading operation
andcompounding
factory

Plastic
compoundproducts

Local factoryof parts
molding
manufacturer

Local factoryof resinmanufacturer

Base resin
Relatedmaterials

Inabata’s local
trading operation
andcompounding
factory

Information sharing on
customers and markets

Going forward, we will develop human resources with evenmore advanced expertise, provide products and services
that contribute to resolving issues such as environmental
conservation and safety, and continue to be a partner thatprovides creative solutions and to foster mutual growth withour customers.

Relatedmaterials

Automotive,
OA, homeappliances

Updated information on customers andmarkets through compounding business contributes
to expansion of trading businessWe provide comprehensive solutions for plastic materials,
logistics, and financing for manufacturing equipment, mainly
targeting the automotive market.

Local factoryof parts
molding
manufacturer

Mainlyautomotive

Information sharing on
customers and markets

Japan

Inabata
Head Office
Collaborative value leveraging
specialized knowledge
and network of bases

Providing diverse value
through one-stop service
Parts molding makerResin manufacturer’shead office

Automotive Products Department I,
Automotive Products Department II

Plastic
compoundproducts

Information sharing allows for immediate
response to the transfer of customer sites

Products & Services
Polymer Department I, Polymer Department II

North America

Product manufacturer’shead office

Annual production capacity of resin compounds (MT/Y) As of July 1, 2023

Products

From commodity plastics to super engineering plastics, molding machines
and auxiliary equipment, laser welding machines, heat-dissipating products,
specially molded plastic products

Business Development Department
We leverage our expertise and knowledge to provide
comprehensive support for manufacturing, from material selection
to special molding techniques, processing, and products. We alsooffer molded products through our Group company I & P Co., Ltd.
Products

Cellulose nanofiber (CNF) + resin composite materials, various materials
with negative environmental impact (recycled materials, biomass resins,
biodegradable plastics, etc.) stretchable printed circuit boards (PCBs),
technology to join materials of different substances, “impact-processed”
aluminum products

Vietnam

42,000MT/Y

China

Thailand

12,600MT/Y

37,200MT/Y

Philippines

19,700MT/Y

Malaysia

Mexico22,300MT/Y

28,800MT/Y
Indonesia

33,000MT/Y

7 locations in 7 countries Total annual production capacity: 195,600MT/Y
16

Inabata’s Business by Region

Note: Figures are rounded down to the nearest 0.1 billion yen.

Net sales by geographical segment (FY2022)

Plastics Division II

The Americas

Europe

5.7 %

2.7 %

(41.7 billion yen)

(19.9 billion yen)

Northeast Asia

Providing total solutions for films and sheets

Total

24.6 %

735.6(181.0 billion yen)Japan

40.4 %

billion yen

The Plastics Division II is involved in planning, selecting
materials, manufacturing and processing films and sheets,in addition to the planning of the final products as well as
mostly everything related to packaging materials. We
handle a wide range of products including industrial
products such as polyethylene resins and film products.
We also deal in films for processing, laminated products,
resins for sheets and molded products, and materials for
sporting goods.
We have three manufacturing subsidiaries and one sales
and marketing subsidiary in Japan. We also operate
factories in Thailand, Indonesia, and Vietnam. As ashosha, or Japanese trading company, we are capable ofproviding a comprehensive solution from procurement ofmaterials to molding products in addition to sales andmarketing services.

(296.9 billion yen)Southeast Asia

26.6 %(195.9 billion yen)

As a “comprehensive packaging planner” in the film
industry, we will continue to take Japan’s high-quality
film products to the world and support overseas
expansion of Japanese processors. We are also looking
into a new business of finding overseas film products
equivalent to the quality of Japanese products andimporting them to Japan.

Japan
Trading company

Manufacturing & processing baseAikei Farms Yoichi Co., Ltd.
Aikei Farms Shakotan Co., Ltd.

Ulvac Coating Corp.

Products & Services
Industrial Materials Department

Sheet & Molding Materials Department

We sell various domestic and imported polyolefin resin materials.
We also sell film products and recycled plastic products, andmanufacture and sell recycled plastic.

We sell various sheets, from materials to molded products,
and materials and products for sporting goods.

Products

LLDPE*1, HDPE*2, LDPE*3, PP*4, other polyolefin resins,
recycled plastic materials and products,
film products

Shiojiri Office
Nagoya Office

Products

I & P Co., Ltd.

Resins for sheets (PP, PS*5 and PET*6),
various resin sheets and molded products (PP, PS, PET),
sporting goods (over-grips for tennis, badminton, and baseball,
vibration-absorbing materials for tennis rackets, general sports accessories)

Film & Performance Materials Department

Inabata Fine Tech Co., Ltd.

Maruishi Chemical
Trading Co., Ltd.

We sell various plastic films (packaging materials, industrial
materials) and processed film products.
Products

Domestic and imported films for lamination,
laminated products,
domestic and imported films for industrial materials,
materials for environmentally friendly plastic

Taiyo Plastics Co., Ltd.

Osaka Head Office*1 LLDPE: Linear low-density polyethylene*2 HDPE: High-density polyethylene*3 LDPE: Low-density polyethylene*4 PP: Polypropylene*5 PS: Polystyrene*6 PET: Polyethylene terephthalate

Clean Assist Co., Ltd.
N · I · C Co., Ltd.

Inabata Optech Co., Ltd.

Shizuoka Office
Daigo Tsusho Co., Ltd.
Ikkoen Co., Ltd.

Kyushu Office(Kirishima)

17

Ordiy Co., Ltd.
Kansai Kobunshi
Co., Ltd.

Hamamatsu Office

Tokyo Head Office** Due to reconstruction work on the Tokyo Head Office building, weare operating at a temporary location, the Muromachi Furukawa
Mitsui Building (COREDO Muromachi 2)—located at 2-3-1
Nihonbashi Muromachi, Chuo-ku, Tokyo—from December 2022 toSeptember 2025.

18

Inabata’s Business by Region

Southeast Asia and India

Note: Figures for net sales and operating profit are based on FY2022, and the consolidated number of employees is as of March 31, 2023.

195.9 billion yen Operating profit 8.0 billion yen
Consolidated number of employees
2,492
Net sales

We have 11 manufacturing and processing bases in the region and are focusedon expanding business in each segment.

Koji Nakano
Managing
Executive Officer
General Manager,
Southeast Asia

Action

India

Hanoi

Myanmar

Pune

Chennai

Haiphong

Vietnam

YangonAyutthaya Da Nang
Bangkok
Binan
Samut Prakan
Sriracha Chonburi
Ho Chi Minh City Philippines

ThailandPenangKuala Lumpur

Malaysia

Executive Officer
General Manager,
Northeast Asia

Singapore
Indonesia

JakartaBekasiSurabaya

181.0 billion yen Operating profit 3.1 billion yen
Consolidated number of employees
470
Net sales

ActionIn this core region that accounts for 25% of our consolidated net sales, we offer businesses
leveraging our network spread over 20 cities in China, Taiwan, and South Korea. Starting mainly withFPD components, we are focused on plastics for automotive, OA, and electric and electronic
products. We expect further increase in profits in our China business, where we seek to proactively
invest our management resources in growth sectors, such as semiconductors, energy, EV andmobility, medical products and medicine, agriculture and food products, high-tech materials, andTrading company
Manufacturing & processing baseenvironment-related products.

Strengthening collaboration with business locations anddivisions to expand sales
In the Northeast Asia region, which has undergone significant change
in the business environment due to the COVID-19 pandemic, wewill expand sales in the mobility and semiconductor sectors bystrengthening collaboration among locations and divisions within theregion and offering products with new functions that only we canprovide. We will also increase exports of Chinese-made chemicals,
plastics, and environmental products.

19

ActionTianjin

Seoul

ChengduChongqing

Hefei
Wuhan

Taipei
Guangzhou

DongguanHong Kong
ShenzhenTainanTaiwanHsinchuTaichung

285

Main Business• Electronics materials(including those related to semiconductors)• Digital printing material (inkjet, toner)• Functional chemicals • Plastics• Processed products in agriculture
and marine industries• Components related to the environment
and energy industry (including those for
EV batteries and solar power)• Raw materials for pharmaceutical products

Trading company

Manufacturing & processing baseDetroit
NovatoLos Angeles United States
Tijuana

New York

MexicoSilaoQueretaro

BrazilNet sales

Sao Paulo

19.9 billion yen

Operating profit

Consolidated number of employees

0.8 billion yen

73

We operate businesses centered on chemicals, energy, automobiles,
life sciences and other fields, taking advantage of our unique mobility.
In Europe, we deal in a wide range of products in various segments, such as inkjet ingredients,
energy-related products, automobile components, and functional chemicals. Our Group companies
manufacture and sell medical products, materials for cosmetics, and other products in France. In the
future, we will also seek to focus on businesses in the environmental sector, such as selling thermalinterface materials for the EV battery field and developing plant-based materials for the cosmetics field.

Kenichi Oba

South Korea

Nanjing
Wuxi
ShanghaiNingboConsolidated number of employees

1.2 billion yen

We are involved in businesses in the automotive, environmental and energy, food products, andlife sciences fields, which are our key areas. We mainly deal in electronics materials, functional
chemicals, plastics, and digital printing materials. In addition, we are developing food-related
businesses at a subsidiary, DNI Group LLC. Our theme is to expand the plastics business throughout
the region of North America, as we have expanded into home appliance and aviation businesses,
among others, in addition to selling plastics for the automotive industry in Mexico. In Brazil, we
are focused on selling plastics for automobiles and motorcycles, and functional chemicals.

EuropeDalianChina

Operating profit

In Mexico, which is continuing to grow as a major production base for
automotive parts in the Americas, we will move forward with investments
to improve the production facilities at our Company’s plastic compounding
factory (IK Plastic Compound Mexico, S.A. de C.V.), and aim to expand oursales base for plastics products by integrating manufacturing and sales.

President, Inabata
Europe GmbH
Beijing41.7 billion yen

Improving production facilities at our plastic compounding
factory in Mexico

Johor

We are expanding Inabata’s core businesses by harnessing our network spreadover 20 cities in China, Taiwan, and South Korea.

Main Business• Plastics for the EV and mobility, OA,
and electric and electronic (E&E) segments• Components for FPDs
• Functional chemicals compliant withenvironmental regulations

General Manager,
The Americas

Gurugram

We began handling biomass materials to be used for power generationfuel for Japanese electric power companies as part of our “expansionof products that reduce environmental impact,” a key initiative in our
medium-term business plan, NC2023. In addition, we linked the
manufacturing and processing functions of Group companies in Japan andoverseas, including those in Thailand, to develop garbage bags composedof biomass materials. As a shosha that handles resin products, we willcontinue developing environmentally friendly commercial products, while
also helping to bring about a sustainable society by launching sales
activities in India in the solar power generation business.

Takaharu Ookura

Max Inoue

Ahmedabad

Initiatives for a decarbonized society

Northeast Asia

Manufacturing & processing baseTrading company

Net sales

In addition to developing our businesses in the United States and Mexico,
we are working toward expansion in South America with a focus on Brazil.

Southeast Asia is an important region where our processing bases for plastic compound, our key
business, are concentrated. We produce plastic compound products, mainly for the three major fields
of electric and electronic products, OA, and automobiles and motorcycles, at 30 bases across 9
countries. In the future, we seek to expand our business in the automotive field, which is rapidly
growing in Southeast Asia, while also focusing on developing new products and materials for thefields of energy, agriculture, and food products. Within the energy field, we particularly wish to workon products that reduce environmental impact and generate solar power.
Main Business• Plastics for automobiles, home appliances,
OA equipment• Materials for printers• Rubber materials and additives for the
automotive industry• Materials and products for packaging

The Americas

Main Business• Inkjet products and materials• Various materials for secondary cells• Medical products, materials for cosmetics• Functional chemicals

ActionEstablishing logistics bases at each location to cover theentire region
In April 2023, we established a base in Prague, Czech Republic to which
we dispatched employees, aiming to strengthen sales of plastics. We will
also establish logistics bases in Poland, Hungary, Belgium, Italy, andTurkey to cover the entire region. This fiscal year we will expand into
North Africa.

Trading company

Manufacturing & processing base

United Kingdom

Shrewsbury Germany
Dusseldorf
PragueNormandy
WissousFranceCzech Republic
Istanbul

Turkey20

Global Network

Inabata’s network extending acrossapproximately 60 bases in 19 countries worldwide
Trading company

Manufacturing & processing base

EuropeThe Americas
Northeast Asia

Japan

Southeast Asia

EuropeSoutheast Asia / India / Australia

Germany

Dusseldorf

Singapore

FranceWissous(suburb of Paris),
Normandy

Malaysia

Kuala Lumpur,
Penang, Johor

Indonesia

Jakarta, Surabaya
Bekasi (suburb of Jakarta)

Philippines

Binan (suburb of Manila)

VietnamHanoi, Ho Chi Minh City,
Haiphong, Da Nang

United Kingdom Shrewsbury(suburb of
Birmingham)
TurkeyIstanbul

Czech Republic

PragueThailandNortheast Asia
BangkokSamut Prakan(suburb of Bangkok),
Ayutthaya,
Sriracha(suburb of Laem Chabang),
Chonburi

Myanmar

YangonIndia

Gurugram (suburb of Delhi),
Chennai, Pune, Ahmedabad

Australia

Brisbane

China

Hong Kong, Shanghai,
Wuxi, Ningbo, Chengdu,
Nanjing, Hefei, Chongqing,
Beijing, Dalian, Tianjin,
Guangzhou, Dongguan,
Wuhan, Shenzhen

TaiwanHsinchu, Tainan,
Taichung, Taipei

South Korea

Seoul

Japan

The Americas

Tokyo, Osaka, Nagoya,Shiojiri, Shizuoka,
Hamamatsu, Kirishima

United States

New York,
Los Angeles,
Detroit,
Novato (California)

MexicoQueretaro,
Tijuana,
Silao

Brazil

Sao Paulo(As of July 1, 2023)

21

22

Consolidated Subsidiaries and Affiliates (As of July 1, 2023)

Consolidated subsidiaries
Company Name

Trading company

Countries and Regions

Manufacturing & processing baseBusinessJapan

I & P Co., Ltd.

Japan

Osaki, Miyagi

Molding and processing of synthetic resins

Ikkoen Co., Ltd.

Japan

Sakai, Osaka

Processing and sale of marine products

Inabata Fine Tech Co., Ltd.

Japan

Osaka

Sale of chemicals

N · I · C Co., Ltd.

Japan

Tokyo

Processing and sale of plastic film products

Ordiy Co., Ltd.

Japan

Osaka

Processing of plastic film products andpackaging materials, design and marketingof supplementary equipment and systems

Countries and Regions

Business

Shanghai Inabata Fine Chemical Co., Ltd.

China

Shanghai

Import & export and sale of synthetic
resins and chemicals

Shanghai Inabata Trading Co., Ltd.

China

ShanghaiProcessing of coating materials

Inabata Korea & Co., Ltd.

South Korea

Seoul

Import & export and sale of electronicmaterials

Taiwan Inabata Sangyo Co., Ltd.

TaiwanHsinchu

Import & export and sale of electronicmaterials, semiconductor-related
equipment, and chemicals

Company Name

The Americas

Kansai Kobunshi Co., Ltd.

Japan

Yamato-Koriyama, Nara

Manufacturing of plastic films

IK Plastic Compound Mexico, S.A. de C.V.

MexicoSilao

Compounding of resins

Daigo Tsusho Co., Ltd.

Japan

Shizuoka

Sale of materials and machinery for foodpackaging, manufacturing and sale ofprocessed agricultural and marine products

Inabata Mexico, S.A. de C.V.

MexicoQueretaro

Sale of synthetic resins

NH Inabata, S. de R.L. de C.V.

MexicoQueretaro

Design and production, installation, anddistribution of overhead traveling cranes

DNI Group, LLC

United States

Novato (California)

Import & export and sale of foodInabata America Corp.

United States

New York

Import & export and sale of electronicmaterials, chemicals, and synthetic resins

Inabata France S.A.S.

FranceWissous (suburb of Paris) Import & export and sale of chemicals

Pharmasynthese S.A.S.

FranceNormandy

Manufacturing of pharmaceuticals,
materials for cosmetics, and fine chemicals

Dusseldorf

Import & export and sale of electronicmaterials, chemicals, and synthetic resins

Taiyo Plastics Co., Ltd.

Japan

Hasuda, Saitama

Manufacturing of plastic films

Maruishi Chemical Trading Co., Ltd.

Japan

Osaka

Sale of chemicals

Inabata India Private Ltd.

India

Gurugram(suburb of Delhi)

Import & export and sale of synthetic
resins, electronic materials, and chemicals

PT. IK Precision Indonesia

Indonesia

Bekasi (suburb of Jakarta)

Molding and processing of synthetic resins

PT. Inabata Creation Indonesia

Indonesia

Bekasi (suburb of Jakarta)

Processing of grip tapes for tennis rackets

PT. Inabata Indonesia

Indonesia

Jakarta

Import & export and sale of synthetic
resins and chemicals

Inabata Europe GmbHGermany

PT. S-IK Indonesia

Indonesia

Bekasi (suburb of Jakarta)

Compounding of resins

Inabata UK Ltd.

Inabata Malaysia Sdn. Bhd.

Malaysia

Kuala Lumpur

Import & export and sale of synthetic resins

Property management, warehousing
United Kingdom Shrewsbury(suburb of Birmingham)

SIK Color (M) Sdn. Bhd.

Malaysia

Johor

Compounding of resins

IK Plastic Compound Phils. Inc.

Philippines

Binan (suburb of Manila)

Compounding of resins

Inabata Philippines, Inc.

Philippines

Binan (suburb of Manila)

Sale of synthetic resins

Inabata Singapore (Pte.) Ltd.

Singapore

Singapore

Import & export and sale of synthetic
resins, electronic materials, and chemicals

Apple Film Co., Ltd.

ThailandSamut Prakan(suburb of Bangkok)

Manufacturing of plastic films

Hi-Tech Rubber Products Co., Ltd.

ThailandAyutthaya

Molding and processing of rubber products

Other affiliates

IKT Consulting Co., Ltd.

Thailand

Bangkok

Sale of machinery and provision of various
services

Company Name

Inabata Thai Co., Ltd.

Thailand

Bangkok

Import & export and sale of synthetic
resins, chemicals, food, and machineryJapan

SIK (Thailand) Ltd.

ThailandSamut Prakan(suburb of Bangkok)

Compounding of resins

Apple Film Da Nang Co., Ltd.

Vietnam

Da Nang

Manufacturing of plastic films

Inabata Vietnam Co., Ltd.

Vietnam

Hanoi

Import & export and sale of synthetic
resins, electronic materials, and chemicals

SIK Vietnam Co., Ltd.

Vietnam

Haiphong

Compounding of resins

Southeast Asia / India

China

Inabata Industry & Trade (Dalian F.T.Z.) Co., Ltd. China
Inabata Sangyo (H.K.) Ltd.

23

Equity-method affiliates
Countries and Regions

Business

Ulvac Coating Corp.

Japan

Chichibu, Saitama

Manufacturing of electronics and opticalindustrial materials

Clean Assist Co., Ltd.

Japan

Tokyo

Sale of plastic films and plastic sundries

Company NameCountries and Regions

Business

Aikei Farms Shakotan Co., Ltd.

Japan

Shakotan, Hokkaido

Production and sale of agricultural products

Aikei Farms Yoichi Co., Ltd.

Japan

Yoichi, Hokkaido

Production and sale of agricultural products

Inabata Optech Co., Ltd.

Japan

Kawasaki, Kanagawa

Research and development of encapsulants
for optical semiconductor devices

Thailand

Chonburi

Manufacturing and sale of recycled plastic

China

Tianjin

Import & export and sale of synthetic
resins, electronic materials, and chemicals

Brazil

Sao Paulo

Sale of chemicals and synthetic resins

Australia

Brisbane

Export of roughage, etc., import and saleof resin products, etc.

Southeast Asia

Clover Plastics (Thailand) Co., Ltd.
Northeast Asia

Northeast Asia

Guangzhou Inabata Trading Co., Ltd.

EuropeChina

Guangzhou

Compounding of resins; import & export
and sale of synthetic resins and chemicals

DalianCompounding of resins; import & export
and sale of synthetic resins and chemicals

Hong Kong

Import & export and sale of synthetic
resins, machinery, electronic materials,
and chemicals

Tianjin Inabata Trading Co., Ltd.
The Americas

Inabata Brazil Import & Export Ltd.
Australia

Inabata Australia Pty. Ltd.

24

Environment/Society/Corporate Governance

Environmental initiatives

Corporate governance

Carbon Neutrality Declaration 2050

Participation in AEPW

Basic approach

In June 2022, the Inabata Group announced its
Carbon Neutrality Declaration 2050, which states its
aim to reduce greenhouse gas (GHG) emissions
caused by its business activities to net zero
emissions* by FY2050. Although we established anenvironmental management system based on
ISO 14001 in the past and have been working on
initiatives such as energy management, we willfurther strengthen our decarbonization efforts going
forward in order to achieve carbon neutrality. In
addition, in the area of our business activities, we will
focus on developing various products and providing
solutions which contribute to a decarbonized society.

In order to reduce plastic waste, Inabata joined theAlliance to End Plastic Waste (AEPW), a globalorganization which aims to resolve the issue ofplastic waste, in September 2021. One of the key
initiatives in our Company’s medium-term businessplan, NC2023 is the “expansion of products that
reduce environmental impact.” We are engaged in theplastics recycling business, in addition to working on
the development and production of biodegradable
plastics. In the future, we will work to reduce plastic
waste from a global perspective through our alliancewith companies participatingin AEPW.

The Company’s Mission is “People come first, based on
the spirit of ‘love (ai)’ and ‘respect (kei),’ and together
we strive towards contributing to the developmentof society.” Based on this Mission, we consider it
essential to develop and build a solid corporate
governance system that serves as a foundation to

Corporate governance system

Nominating andRemuneration Committee(July 1, 2023)

General Meeting of Shareholders
Election /Election /Report /Proposal /Election /Dismissal
Dismissal Statement of Opinions
Dismissal Report
Audit /
Report Accounting
ReportAudit and
Board of Directors
Auditors
Supervisory Committee

AdviceReportDirection

Business Execution System

Social initiatives

President

The relationship with Portugal began in 1920 when
our founder was appointed vice-consul for Portugal in
Kyoto. From 1932, our second president, Taro Inabata,
became the honorary vice-consul for Portugal in
Osaka. Our former counselor, Katsuo Inabata,
became the honorary consul in Osaka in 1973.
He also established the Sociedade Luso-Nipónica deOsaka in 1994 to commemorate 450 years of friendly
exchange between the two countries, and served as
its president. Our current president, Katsutaro
Inabata, who is the sixth president of the Company,is actively promoting cultural exchange between
Japan and Portugal as the president of the Sociedade
Luso-Nipónica de Osaka.

President Katsutaro Inabata received the Legion of Honor award in
March 2021 for his contribution to exchange between Japan and France
by serving as the president of the Société franco-japonaise d’Osaka.

25

Internal Audit
OfficeManagement
CouncilInternal Control Committee

In the late 19th century, our founder, Katsutaro Inabata,went to France to study synthetic dyeing techniques
and other advanced technologies of the time. Since
then, our Company has been committed to advancing
cultural exchange between Japan and France. In 1927,
the then-French Ambassador to Japan, Paul Claudel, andKatsutaro Inabata established Institut francais du Japon Kansai where French language classes and cultural
exchange programs between the two countries are still
held today. Additionally, the Société franco-japonaised’Osaka, which was set up by our second president,
Taro Inabata, in 1952, continues to promote mutual
understanding and friendly relations between Japan andFrance to today.

Direction
ReportCompliance Committee

Japan–Portugal exchange

ReportAccounting Audit

Sustainability Committee

Japan–France exchange

Audit and Supervisory
Committee Office

Audit

Human Rights Affairs Committee
Export Control Committee

Collaboration*Our own GHG emissions (Scope 1 [use of fuel at our Company] andScope 2 [use of electricity and heat purchased by our Company]).

ensure transparency and fairness in management andcarry out prompt and bold decision-making to handle
the responsibilities entrusted to us by shareholders,business partners, employees, and all stakeholders
who support our corporate activities, while
continuously improving our corporate value.

Internal Audit

Executive Officers
Sales Divisions / Administrative Offices / Group Companies Worldwide

Participation in initiatives
United Nations Global Compact
In April 2022, we signed
the United Nations Global
Compact (UNGC), whichis advocated for by theUnited Nations, and wereregistered as a participatingcompany. Based on thecommitments of their top
corporate executives, UNGC signatory companies
and organizations are required to make continued
efforts toward realizing the Ten Principles onhuman rights, labor, environment, andanti-corruption.

Task Force on Climate-related Financial
Disclosures
In March 2023, weendorsed therecommendations of the Task Force on
Climate-related Financial Disclosures (TCFD).*
While climate change is a risk to our Group, it canalso bring new business opportunities. We willcontinue to engage in analysis and discussion toenhance our disclosure of information based on
the TFCD recommendations.
* The TCFD was established by the Financial Stability Board (FSB) in2015 at the request of the G20. It encourages companies andother organizations to make disclosures on governance, strategy,
risk management, and metrics and targets with respect toclimate-related risks and opportunities.

26

Financial Highlights

Note: Figures are rounded down to the nearest 0.1 billion yen.

Net salesJapan

Operating profit(Billions of yen)OverseasJapan

Ordinary profit and net profit*(Billions of yen)Overseas

Ordinary profit

Net profit

735.6
680.9

21.6

296.9

283.9

7.9

115

110

16.5

269.0

14.9

14.2

6.7

13.2

438.6

13.3

5.9

400.4

12.0

13.7

62.2%

63

11.4

53

47.1%

308.5

31.9%

7.9
6.9

28.1%

FY2019(Yen)

19.1 19.4

6.6

577.5

316.3

Dividends per share
Payout ratio
Total return ratio*

22.3

20.3

20.0

280.5

600.3

(Billions of yen)

Dividends per share andshareholder return indicators

FY2020

FY2021FY2019FY2022

FY2020

FY2021FY2019FY2022

FY2020

FY2021

FY2022FY2019

27.6%
27.5%

FY2020

33.5%

29.4%

FY2021

FY2022

Note: The Accounting Standard for Revenue Recognition and otherstandards have been applied to the figures since FY2021.

Note: The difference between consolidated operating profit and thesum of operating profit in Japan and overseas is attributable toeliminations in consolidated accounts.

*Profit attributable to owners of parent*Total return ratio = [(Dividends + treasury shares acquired) ÷
Consolidated net profit] x 100

Net sales by business segment

Net sales by geographical segment

Total assets and net assets

Equity capital and equity ratio(Billions of yen)

Plastics

OthersInformation & Electronics

49.5%

0.0%

32.4%

363.9

0.1

238.0

(Billions of yen)

The Americas

Europe5.7%

2.7%

Total assets

389.0

Equity capital

380.4

322.8

(Billions of yen)

Equity ratio

173.8

353.2

19.9

41.7

(Billions of yen)

Net assets

174.9

179.4

145.9

Northeast Asia

24.6%
181.0

Total

27

735.6

735.6

FY2022

FY2022

Life Industry

ChemicalsSoutheast Asia

5.9%

12.2%

26.6%

43.6

Total

89.8

195.9

45.2%

175.8

176.9

49.2%

181.5

45.0%

47.2%

147.7

Japan

40.4%
296.9

FY2019FY2020

FY2021

FY2022FY2019FY2020

FY2021

FY202228

Management (As of July 1, 2023)

Corporate Information (As of July 1, 2023)

Katsutaro Inabata
Director, President

Toyohiro Akao

Director, Senior Managing Executive Officer
Information & Electronics, Life Industry, the Americas, Europe

Toyohiro Akao

Director, President

Director, Senior Managing
Executive Officer

Kenichi Yokota

Information &Electronics Division I

Masahiro Sugiyama

Incorporated
June 10, 1918

Information &Electronics Division II

Takashi Shigemori

Paid-in capital
9,364 million yen

Director, Managing Executive Officer
Chemicals, Information & Electronics (assisting), Northeast Asia
Director(Advisor, Sumitomo Chemical Co., Ltd.)

Takako Hagiwara

Director(Representative Director, DDD Corp.)

Osamu Chonan

Director(Chairman, Kewpie Mirai Tamago Foundation)

Kenichi Yokota

Masahiro Sugiyama

Director, Senior Managing
Executive Officer

Director, Managing
Executive Officer

Kenji Hamashima

Director, Audit and Supervisory Committee Member(Special Adviser, Ushio Inc.)

Satoshi Tamai

Director, Audit and Supervisory Committee Member(Representative, Satoshi Tamai Certified Public Accountant Office)Minoru Sanari

Director, Audit and Supervisory Committee Member(Senior Adviser, Tokyo Gas Co., Ltd.)

Tomokazu Fujisawa

Director, Audit and Supervisory Committee Member(Former Director, Audit & Supervisory Committee Member, Astellas Pharma Inc.)

Takashi Shigemori

Takako Hagiwara

Director

Director

Noriya Yokota

Director, Audit and Supervisory Committee Member(Former Director, Kirin Brewery Company, Limited)

Koji Nakano

Shinya Kawai
Kenji Hamashima

Director

Director, Audit and Supervisory
Committee Member

Executive Officer
Plastics (assisting), General Manager, Plastics Division I
General Manager, Plastics Compound Business OfficeChemicals Division

Overseas offices
Approximately 60 locations in 19 countries including
Singapore, Bangkok, Jakarta, Shanghai, Hong Kong,
Taipei, Los Angeles, New York, Dusseldorf
Number of employees (As of March 31, 2023)
Non-consolidated: 709(including employees seconded to Group companies)
Consolidated: 4,316
Independent auditors
KPMG Azsa LLC
Securities code
Tokyo Stock Exchange Prime Market 8098

Life Industry Division

Plastics Division I

General Meetingof Shareholders

Board ofDirectors

General Affairs
OfficeDigital Promotion
OfficeWebsiteFinancial
Management Officewww.inabata.co.jp/english/

Yutaka Takahashi

Executive Officer
Life Industry (assisting), General Manager, Chemicals Division

Plastics Compound
Business Office

Plastics Division II
Audit andSupervisory
Committee
Audit andSupervisory
Committee
OfficeKazuhiro Hanaki

Executive Officer
General Manager, Nagoya BranchInformation &Electronics Division III

Domestic offices
Osaka Head Office, Tokyo Head Office,Nagoya Office, Shiojiri Office, Shizuoka Office,Hamamatsu Office, Kyushu (Kirishima) Office

Managing Executive Officer
Plastics, Southeast Asia, General Manager, Southeast Asia

Osamu Chonan

Organization

Founded
October 1, 1890

Director, Senior Managing Executive Officer
Administrative Affairs

Katsutaro Inabata

Company nameInabata & Co., Ltd.

Sustainability Committee

Business Process
Management OfficeCompliance Committee

Human Resources
OfficeInternal Control
Committee

Risk Management
OfficeHuman Rights Affairs
Committee

Business Planning
OfficeExport Control
Committee

Internal Audit Office

Katsutoshi Tanaka

Executive Officer(President, Inabata Fine Tech Co., Ltd.)Tsuyoshi Maruta

Executive Officer
General Manager, Information & Electronics Division I

Koichi Noda
Satoshi Tamai

Minoru Sanari

Director, Audit and Supervisory
Committee Member

Director, Audit and Supervisory
Committee Member

Executive Officer
General Manager, Financial Management Office

Takaharu Ookura

Executive Officer
General Manager, Northeast Asia

Masato Tsunoda

Executive Officer
General Manager, Risk Management OfficeNobukazu Kuboi

Audit and Supervisory Officer
General Manager, Audit and Supervisory Committee Office

29

Tomokazu Fujisawa

Noriya Yokota

Director, Audit and Supervisory
Committee Member

Director, Audit and Supervisory
Committee Member

Notes: 1. Directors Takako Hagiwara, Osamu Chonan, Kenji Hamashima,
Satoshi Tamai, Minoru Sanari, Tomokazu Fujisawa, and Noriya Yokota
are outside directors.
2. Executive Officers’ roles noted in brackets are their roles at the places
they have been seconded.

30