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 early 2026.

August 2024

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)

The 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 Group now boasts a network of approximately 70 locations across 19
countries outside Japan, with overseas business accounting for over half of its
consolidated net sales. We have developed a long-term vision based on what weenvision 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
Function

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

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

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)
To continually challenge the limits with high ideals, big dreams and great
passion (aspiration)

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

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

Net sales and operating profit
generated outside of Japan
70% or more
(Formulated in May 2017)

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 have cultivated over the 130 years
since the founding of our Company, along with the close collaboration of ourbases around the world. In addition, we have formulated our new medium-term
management plan, New Challenge 2026 (NC2026), launching in FY2024 as thethird stage toward shaping IK Vision 2030, our long-term vision. To achieve thisvision, we will elevate our company-wide growth strategy, segment growthstrategy, and management base strategy (financial strategy, sustainability
strategy, and digital strategy) under the key themes of “accelerate growththrough proactive investment” and “address key management priorities(materiality) under the sustainability medium-term plan.” We will stride ahead as acompany needed by society and our clients by working in unison toward achieving
our new medium-term management plan.
We look forward to your ongoing support and encouragement.
Medium-term management plan New Challenge 2026 overview

To prize dialogue and teamwork, and to treasure professional growth of
employees (organization)
To become the best partner of our clients, providing solutions from theclients’ standpoint (role)

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

Long-term vision: IK Vision 2030
Medium-term management plan: New Challenge 2026 (NC2026)
Key themes
Accelerate growth through proactive investment
Address key management priorities (materiality) under the sustainability medium-term plan
Company-wide growth strategy

Segment growth strategy

Management base strategy
Financial strategy

Sustainability strategy(including HR strategy)

Digital strategy

Details of medium-term management plan New Challenge 2026 (NC2026)

Katsutaro Inabata
President

12Our Company Value Creation Process
The Inabata Group will harness the capital it has accumulated and cultivated as a source of its businessexpansion, with trading at the core, providing optimal solutions for the global supply chain. Furthermore,
we will accelerate growth through proactive investment in business domains where we can leverage ourstrengths.
External environment changes affecting client needs
Transition to a decarbonized and circular society
Technological innovation

Capital(Inputs)

Source of the Group’s
value creation• Number of employees
on a consolidated basis
4,631*1• Employees in the
trading business
1,907 (Japan: 979,
outside Japan: 928)*1, 2

Human resources
inheriting the spirit of love(ai ) and respect (kei ) withstrong expertise in fourbusiness domains
Highly specialized
knowledge and business
adaptability createdthrough our global
network

Relationships of trustwith stakeholders built
over years of business

Four Evolving
Businesses

Segment
growth strategy

Speedy management*1 As of March 31, 2024
*2 The number of employees inthe trading business refers to
the number of employees at
the trading companies.

3

Consolidated net sales
over 1 trillion yen

CoreProviding added value
by solving client issues

ChemicalsMultifaceted capabilities
complementing
trading company function• Enhancing shareholder returns

Enhance multifaceted
capabilities
Environmental

Manufacturing &processing function

GrowthLife Industry

Finance function

Society

Bolster initiatives andaccelerate profitability
in growth areas

Business portfolio

Next

Business investments(growth investment)• Business domains where Inabata’s
expertise and strengths can be leveraged

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

• Investments contributing to trading

Inabata Group• Building solid and trusting relationships
with stakeholders• Improving employee well-being andvalue creation
Society• Creating a society that respects
human rights• Building an enriched society with ahigh quality of life and ensured safety
and security

Financial strategy

Love (ai) and Respect (kei)• Creating a decarbonized andcircular society• Conserving biodiversity

SocialExplore promisingbusiness fields
and regions

Plastics

Management Base

Digital strategy

The fundamental spirit since our founding

Client baseFinancialSociety

Further develop
core businesses

Management basestrategy

Corporate governanceInabata Group• Building a resilient supply chain• Providing diverse products and solutions
that respond to change• Maximizing cash flow

Manufactured capital
Unique facilities
complementing trading
company function• Manufacturing &processing base
21 companies*1• Annual production
capacity of resin
compounds:
195,600MT/Y*1

Long-term vision:
IK Vision 2030

Operational

Inabata Group

Logistics function

A robust financial basecapable of providing thefinance function expectedby our clients

Our vision for 2030

Information &Electronics

Trading company function

Products

Medium-term management
plan: NC2026

Company-wide
growth strategy

Trading

Products

Value Creation(Outcomes)

Management Strategy

Businesses and Functions

Social andrelationship capitalFoundations forgenerating internal andexternal synergistic
effects• Client base
Approx. 10,000
companies• Global network
About 70 bases in
19 countries

Growing awareness of sustainability

Customers

Human capitalStrengths

InabataFoundations supporting
sustainable growth andvalue creation• Equity ratio
46.8%*1• Net D/E ratio
0.06 times*1

As a shosha, or Japanese trading company, the Inabata Group remains ever-committed to trading. This is because we believe thattrading is a business model with the greatest force multiplier for our strengths, such as human resources with strong expertise, aglobal network of facilities, a client base built on long-standing trusting relationships, and a robust financial base. As a group of
trading specialists, we aim to stay close to our clients on-site around the world daily, to identify and address various needs
through access to frontline information, and to solve our clients’ issues by making new proposals and creating new businesses.
We will continue to refine our trading activities and provide greater added value to our clients and society.

Business Model

Suppliers

Financial capital

Geopolitical confrontations

Demographic changes

Commitment to trading

Sustainability
promotion system

Digital promotion system

Risk management

Financial base

Our vision for 2030 to 2050(

Sustainability
strategy
Sustainability
medium-term plan 2026

Sustainability
long-term vision)

Achieve carbon
neutrality by FY2050

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 thefoundation of all kinds of industries, responding to the changing needs of our clients and society.
Flow of major structural
reorganization and the timing of
the start of dealing in major items

1890 –

1945–

Early Period

1984–

Growth Period

The era ofrestructuring
and revival

The era of founding and growth
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.

Founder and dyes

Mask blanks

April 1959

February 1920

The era of progressand creation

We created new value after
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
de Constructions Mécaniques in 1959 andestablished the Machinery and Metals division

Materials for solar power
generation

Silicone

Chemicals for papermaking

Dyes for printers

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

June 1918
Dyeing division

Chemicals

June 1918

Dye samples of Japan Dyestuff
Manufacturing Co., Ltd.

January 1958

Trading division

Perfumes
Imported
pharmaceuticals

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

1897 Brought back a cinematograph (motion picture machine) from France

Food division

Poleon Tablets
1941
Advertisement inShukan Asahi

Inabata Shoten became the first in Japan to hold film shows
For a period of two weeks beginning on February 15, 1897, Inabata Shoten
presented Japan’s first cinema shows at the Nanchi Enbujo Theater, locatedin the Namba district of Osaka, using the cinematograph. The film business
was later handed over to Yokota Shokai, which led to the establishment of
Nikkatsu (Nippon Katsudo Shashin Corp.) after a merger.

Particle boards

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 divisionReplica of a cinematograph

Vinyl chloride

October 1961

Plastics

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

Plastics Division I

Plastics division

Founder strives to advance Japan’s dyeing and weaving business
1895 to 1927 Muslin Boshoku company
Established after our founder proposed to the weaving industry in Kyoto’s Nishijin area to produce muslin domestically during the economic
slump after the Sino-Japanese war. Started business with Société Alsacienne de Constructions Mécaniques in France, which was considered
to be the best in the spinning and weaving machine manufacturing industry.

1897 to 1935 Inabata Dye House

After World War I, import of dyes stopped. The founderestablished the company under national policy by working
with the government, with the aim of encouraging domestic
production of dyes. Industrialist Eiichi Shibusawa was also
involved in the establishment.
The founder becamepresident when the company
was faced with the danger ofbeing dissolved.
He believed that it is essential
to think beyond private
motives in a national businesssuch as dye manufacturing.

Plastics Division II

The Plastics division spun off from the Chemicals division
Also expanded market to durable consumer goods as the types of plastics
increased and processing methods advanced
Resins(polypropylene, etc.)

1916 to 1944 Japan Dyestuff Manufacturing Co., Ltd.

Compounding of resins

Sporting goods

Film products

1944

1926

5

Shrimp for processing

Adhesives for plastics

1912 Nippon Katsudo Shashin Corp.

Launched a dye processing businessusing the latest technology at a newly
established factory in Osaka, developing
original maroon and khaki colors.
In 1935, ownership of Inabata Dye House
was transferred to Toyobo Co., Ltd.

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 Co., Ltd.

Dyes

Yokota Shokai

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

1937

Japan Dyestuff
merged with
Sumitomo Chemical
Industry Co., Ltd., andInabata continued to
be its specified agent.

Japan Dyestuff began producing
pharmaceuticals, and Inabata
became a specified agent,
selling antipyretic analgesics
and local anesthetic active
pharmaceutical ingredients.

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 Japan Dyestuff
Manufacturing Co., Ltd. From 1938, we set up basesin the Chinese cities of Mukden (now Shenyang),
Shanghai, Tianjin, Qingdao, Dalian, and Jinan, and in
Batavia (now Jakarta), Hanoi, and Keijo (now Seoul) tosell dyes and pharmaceuticals. We had expanded to a totalof 13 bases in five countries before World War II. Even
though we lost all our bases due to the war, we established
our first post-war overseas subsidiary in Singapore about
30 years later in 1976. Nearly half a century since then, we
have actively expanded our overseas business and havenow built a network of approximately 70 bases in 19
countries, resulting in overseas sales amounting to overhalf of consolidated net sales.

Trends in overseas sales
Japan sales

Overseas sales

55%

70%

51%
Overseas sales ratio

25%

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 3/24

Around 2030

History of overseas expansion after World War II
1970s

1980s

1990s

2000–20092010–2024

2 countries, 3 bases

9 countries, approx. 20 bases

11 countries, approx. 40 bases

15 countries, approx. 70 bases

19 countries, approx. 70 bases

Main trading companies Note: Photos are buildings in which our offices were launched.
1976 Singapore
Established as the firstoverseas sales base afterWorld War II
lnabata Singapore (Pte.) Ltd.

1987 Thailand (Bangkok)
Siam Inabata Co., Ltd.
(now lnabata Thai Co., Ltd.)

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

1988 Belgium(Brussels)
lnabata Europe S.A.*(now Inabata EuropeGmbH)* Moved to Germany
in 20131990 France (Paris)
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 Import andExport Ltd.

2013 Germany (Dusseldorf)
Inabata Europe GmbH1978 United States (New York)1991 Indonesia (Jakarta)

lnabata America Corp.

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

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

PT. Inabata Indonesia

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

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

2008 Vietnam (Hanoi)
Inabata Vietnam Co., Ltd.

1998 Philippines (Manila)

2012 Mexico (Queretaro)
Inabata Mexico, S.A. de C.V.

2013 Myanmar (Yangon)
Inabata Thai Co., Ltd.,
Yangon Branch2022 Australia (Brisbane)
Inabata Australia Pty. Ltd.

2023 Czech Republic (Prague)
Inabata Europe GmbH,
Czech Branchlnabata Philippines, Inc.

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
businessof plastic
compounds.

1987 Thailand (Samut Prakan)
SIK (Thailand) Ltd.

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

1995 Indonesia (Bekasi)
PT. S-IK Indonesia

2002 China (Dalian)Inabata Industry & Trade(Dalian F.T.Z.) Co., Ltd.

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

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

2022 Thailand (Chonburi)

2007 China (Shanghai)

Clover Plastics (Thailand)Co., Ltd.

Shanghai Inabata Fine
Chemical Co., Ltd.

2008 Mexico (Monterrey)
NH Inabata, S. de R.L. de C.V.

2009 Indonesia (Bekasi)
PT. Inabata Creation
Indonesia

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

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

2013 Vietnam (Da Nang)Apple Film Da Nang Co., Ltd.

7

8

Our Business

The Inabata 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

ChemicalsWith LCD components, materials for digital printing, materials forsemiconductors, and other products as our income-generating
pillars, we are also venturing into new fields such as automobiles
and life sciences. In addition, we are focusing on equipment
related to semiconductors, automobiles, and renewable energy,
which are expected to grow.

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.

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

Chemicals Division

P10

Operating profit

Net sales

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

300

8

120

6.90

6.42

112.6

3

89.8
5.26

2.77

2.78

2.20

78.6

200

Our major strengths are our capability to propose ideas thatleverage our global network based on our highly specialized

2
4

60

knowledge, in addition to building processing and distribution
networks for supply of competitive materials and other products.
Keeping business with existing clients at our core, we seek
to expand in Europe, the United States, and Southeast Asia
by strengthening relations with business partners in Japanand abroad.

Products & Services

100

0

The Information & Electronics Division I is strengthening its
businesses related to displays—mainly LCDs and organic LEDs
(OLEDs), semiconductors, and plastic for LED encapsulants.

P12

Net sales
238.0 239.1

Exploring new businesses
centered around FPDs

P13

P11

(Billions of yen)

247.7

Information & Electronics Division I

1

FY2021 FY2022 FY2023

0

FY2021 FY2022 FY2023

0Life Industry

FY2021 FY2022 FY2023

0

FY2021 FY2022 FY2023

Sales Department I

Sales Department III

We focus on display-related businesses, conducting R&D
and expanding applications for LED encapsulants and heatdissipation plastics.

We provide materials and products for power semiconductor
wafers, edge AI chips, various semiconductor products, IP for
semiconductors, and multi-layer ceramic capacitors. We also plan
M&As and explore investment opportunities in promising start-ups.

Products

Plastics

After Sumitomo Pharmaceuticals Co., Ltd. (now Sumitomo
Pharma Co., Ltd.) was established following the separation of ourpharmaceuticals division in 1984, we focused on sales of materials forpharmaceutical products as our main business and also expanded into
the food industry. We aim to offer consumers healthy and comfortable
lives as a provider of pharmaceuticals and food products.

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.

Life Industry Division

Plastics Division I
Plastics Division II

Polarizing films, materials for polarizing films, alignment layer materials,
color resist, materials for backlights, materials for OLEDs, various surface
treatment equipment, various films, driver ICs, materials for non-wovenmasks, plastic for LED encapsulants, heat dissipation plastics, materials for
special-use tape for displays

Products

Materials for silicon carbide wafers, lithium tantalate wafers, nickel powder,
non-volatile memory, IP for power semiconductors, compute-in-memory
chips, semiconductor modules, and higher-end substrates

Sales Department II
We focus on displays, semiconductor manufacturing equipment,
and semiconductor domains such as mask blanks.
Products

P14

P15

Vacuum deposition equipment for displays and semiconductors, various
inspection equipment, heaters, conveyors, cleaners, mask blanks forsemiconductors, pellicles, EUV MASK PODs, etc.

P17

Net sales

Operating profit

Net sales

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

3

400

53.5

60

38.2

2.61

43.6

363.9 360.4

10.20

1.93

2

10

1.48

8.67

9.87

200

30

5

1

0

15

316.2

FY2021 FY2022 FY2023

0

FY2021 FY2022 FY2023

0

FY2021 FY2022 FY2023

0

FY2021 FY2022 FY2023

Information & Electronics Division I
Note: Figures are rounded down to the nearest 0.1 billion yen.

910

Information & Electronics Division II

Harnessing our strengths as a shosha to expand
digital printing and imaging business
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 clients, based on our highly specialized knowledge ofthe industry, which we have cultivated over our long history.
We work closely with Inabata Group companies throughout
the world to provide clients 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).

Information & Electronics Division III

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

Products & Services

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 and equipment for products related to imaging,semiconductors, and automobiles.

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 materials and products for agriculture

Sales Department II

Products

Optical film materials

Resin additives, plasticizers, various functional
additives, etc.

Various functional
materials

Materials for semiconductors, photographic
chemicals, printing plates, ceramic materials,
inorganic materials, intermediates (including
custom synthesis), etc.

Materials related todecorative films

Various films for automobiles, building materials,
and home appliances; TOM forming machines,
etc.

Agriculture

Various animal feeds, etc.

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

Ink ingredients

Dyes, pigments, solvents, resins, various additives

OthersResins, film products, molded components, etc.

The Information & Electronics Division III provides highly
specialized solutions that cover a wide range of activities, fromsupplying raw and processing materials to manufacturing
products, in various fields such as renewable energy-related
items, batteries, semiconductors and electronics components,
and industrial materials.

As part of our forward-thinking strategy, we are directing ourefforts toward fuel cells and hydrogen generation equipment,aligning with the anticipated future of a hydrogen society.
Furthermore, we are focusing on next-generation rechargeable
batteries, such as lithium-ion batteries, which are the main
power source for environmentally friendly electric automobiles.

We make meticulous efforts to meet client 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.

We are also working on the IoT services business to make thetasks of “detecting how things are working” and “knowing thecondition of things,” which had been dependent on manuallabor, more efficient through IoT.

In the field of renewable energy, which is expected to be theenergy source of the future, we are focusing on the businessof electric power via solar power generation and biomass
power generation, in addition to materials for solar cells.

We will continue to strive to develop human resources withspecialized knowledge and skill, as well as strengthen our
global network. Our goal is to serve as a solution provider toresolve the problems faced by our clients.

Products & Services

Information & Electronics Division II

Sales Department I

Sales Department III

We sell various industrial products.

We sell products, materials, and environmental materials in theenergy generation field.

Products

Variousindustrial,
electronics, andoptics materials

Sensors, robots,and IoT

Various industrial and electronics materials, such asfunctional films (industrial, electronics, and opticsuse), alumina, pitch-based carbon fiber, fluorine resin,silicone, glass, non-woven fabric, adhesives;apparel-related materials, personal care materials,
phase change materials, biochemical ingredients,
chemical synthesis services, film deposition
services, environmental temperature systems,
phosphorescent materials
3D sensors, sensor materials, collaborative robots,
autonomous mobile robots (AMRs), wirelesschargers, network equipment, AI & softwaredevelopment, materials related to 5G technology,
near infrared ray spectrometers, smart inspection
support services, various IoT systems

Products

Energy generation

Solar power generation system-related items (solar
panels, power inverters, mounting structures),photovoltaic materials (metal paste, encapsulants,
glass, various films), hydrogen energy (fuel cells
and related materials), biomass power generation(biomass power generators, biomass fuel)Environmental
materials

Fluorine resin films for agriculture, highlybiodegradable electrical insulation oil

Sales Department II
We sell materials related to semiconductors and electronic devices,various industrial materials, and products in the energy storage field.
Products

11

Semiconductor
and electronics
peripheral
components

Si wafers, compound semiconductor wafers, bottom
anti-reflective coating (BARC), semiconductor
encapsulants and their materials, dicing tapes,
semiconductor wafer coating materials

Energy storage

Lithium-ion battery materials, capacitor materials

Information & Electronics Division III

12

Chemicals Division

Providing a wide range of chemical materials catering
to industrial products, automobiles, and housing
The Chemicals Division leverages our advantages as a shosha,
or Japanese trading company, with manufacturing andprocessing bases to offer optimum products, materials,
and services to clients, by creating synergy between thethree chemicals departments that handle the upstream
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 to petrochemicals,such as plastics, urethane, and fibers. The Performance
Chemicals Department provides a wide range of materials,

such as additives and solvents, to the mainstay paints, inks,
and adhesives industries. The Mobility Chemicals Department
sells airbag, tire, and gasket materials, thermal interface
materials, and other materials used in automobiles as well as
ships and aircraft.

Products & Services

Specialty Chemicals Department

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) andprocurement of development products and materials. 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

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, inorganic materials for public infrastructure and civil engineering,etc.

Performance Chemicals Department
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.

Products

Materials for airbags, tires, friction materials, and gaskets; display parts forautomobiles, thermal interface materials and motor materials for the
EV market.

Housing Materials Department
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.
Products

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

Housing Materials Development Department
Chemicals Division

Life Industry Division

The Housing Materials Department deals in eco-friendly
building materials required by the housing, housing materials,
and housing equipment industries, as well as particle board,lumber, housing equipment, and plastic products and theirmaterials. The Housing Materials Development Department isin charge of new business development.

We develop new businesses for wood and housing materials.
We make efforts to achieve the Sustainable Development Goals(SDGs), effectively utilize forest resources, review the supply
chain, and develop new products.

Pursuing food and life science businesses that leadto healthy, comfortable lifestyles
The Life Industry Division is expanding two of its business areas:
the food business, which handles agricultural and marine
products, and the life science business, which mainly deals inmaterials for pharmaceuticals and consumer goods, such as
insect repellents and insecticides, daily goods, and cosmetics.
Our life science business offers total solutions ranging fromthe manufacturing of ingredients for pharmaceutical products
and cosmetics overseas, procurement of materials forpharmaceutical products and equipment and materials forregenerative medicine, custom synthesis, and pharmaceuticallogistics services, to material procurement, planning anddevelopment, and contract manufacturing for household goods.

In the food business, we not only import and sell safe andreliable agricultural and marine products from around the world
but also grow blueberries, cultivate wakame seaweed, andprocess marine products in Japan, and engage in agricultural andmarine product processing in Vietnam. Our business covers awide area from upstream to downstream.
In addition, we are striving to conduct trilateral business, such as
marketing Japanese food products like shrimp tempura, nori
seaweed, wasabi, and frozen sushi and frozen desserts tooverseas markets, along with marketing frozen fruits andvegetables grown in North and South America to the
Asian market.

Products & Services

Life Science Osaka Sales Department,Life Science Tokyo Sales Department
We support global material procurement for everything fromconsumer goods to pharmaceuticals used in various scenes in thelife science field. We also provide total solutions for building
supply chains for various types of products.
Products

Pharmaceuticals
industry

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

Consumer goods Substances for insect repellents and insecticides,
industry
solvents, attractants, adhesives, materials fordaily goods, cosmetic substances, other finechemical materials

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

Agricultural
products

Frozen fruits: blueberry, mango, grape, strawberry, etc.
Frozen vegetables: spinach, broccoli, kabocha squash,
burdock root, etc.
Dried vegetables: perilla, nozawana (pickled turnip greens),
coriander, etc.

Marineproducts

Shrimp, crab (king crab, snow crab), shellfish, squid,
yellowtail, eel, tuna, whitebait, wakame seaweed, frozen
sushi, etc.

Environment Microbial preparations for drainage facility sludge reduction,
relatedfood residue treatment equipment, etc.

Life Industry Division

13

14

Business model for the plastic compound business

Plastics Division I

North America

Asia

Growing with our clients as a partner providing
creative solutions

Local factoryof resinmanufacturer

Base resin

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

also have our own warehouses overseas and are working toenhance our logistics functions. By improving our overseas
bases in this way, we can provide meticulous support to clients
who wish to move factories overseas or begin production
abroad. In addition to plastic compounds, we will also engage
in joint ventures and cross-industry collaborations while further
strengthening and expanding our manufacturing bases andprocessing technologies in Japan and overseas, taking
advantage of the Group’s strengths in excellent development
capabilities and unique technology.

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

Plastic
compoundproducts

Relatedmaterials

Automobiles,
OA, homeappliances

Local factoryof parts
molding
manufacturer

Mainlyautomobiles

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

Information sharing on
clients and markets

Latest information on clients andmarkets obtained through compounding business contributes
to expansion of trading businessInformation sharing on
clients and markets

Japan

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 clients.

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

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

Product manufacturer’shead office

Products & Services

Polymer Department I, Polymer Department II
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.

Automotive Products Department I,
Automotive Products Department II
We provide comprehensive solutions for plastic materials,
logistics, and financing for manufacturing equipment, mainly
targeting the automotive market.

Products

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

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

Performance Plastics Department

Business Development Department

We offer an optimized global supply of plastic materials with afocus on OA, home appliance, and electric and electronic
product markets.

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.

We act as a coordinator between customers and suppliers. For
Japanese clients planning for global expansion, we offer support
by providing information on such topics as market research
results, labor, and legal issues.

Inabata has obtained ISCC PLUS, a certification issued by theInternational Sustainability & Carbon Certification (ISCC),
demonstrating our capability to provide materials that reduce
environmental impact.

Vietnam

Products

42,000MT/Y

China

Thailand

12,600MT/Y

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

Various materials reducing environmental impact (recycled materials,
bioplastics, biodegradable plastics, etc.), cellulose nanofiber (CNF) and resin
composite materials, stretchable printed circuit boards (PCBs), technology tojoin materials of different substances, “impact-processed” aluminum products

Annual production capacity of resin compounds (MT/Y)

37,200MT/Y
Malaysia

Philippines

19,700MT/Y(As of July 1, 2024)

Mexico22,300MT/Y

28,800MT/Y
Indonesia

33,000MT/Y

7 locations in 7 countries Total annual production capacity: 195,600MT/Y
Plastics Division I

15

Plastics Compound Business Office16

Inabata’s Business by Region

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

Net sales by geographical segment

The Americas

Europe

6.0 %

2.6 %

(45.6 billion yen)

(19.8 billion yen)

Northeast Asia

Plastics Division II

Providing total solutions for films and sheets
The Plastics Division II is involved in planning, selecting
materials, and manufacturing/processing films and sheets. We
also plan final products and deal with almost everything related
to packaging materials. We handle a wide range of products
including industrial products such as polyethylene resins andfilm products. We also deal in films for processing, laminatedproducts, resins for sheets and molded products, and materials
for sporting goods.

trading company, we are capable of providing a comprehensive
solution from procurement of materials to molding products inaddition to sales and marketing services.

We have three manufacturing subsidiaries and one sales andmarketing subsidiary in Japan. We also operate factories inThailand, Indonesia, and Vietnam. As a shosha, or Japanese

As a comprehensive packaging planner in the film industry, we
will continue to expand our business in Japan and overseas.

These manufacturing and sales companies are working toward
the realization of a circular society for resources by producing
and selling products from recycled resin materials
manufactured by affiliated companies.

Total(175.3 billion yen)

766.0Southeast Asia

FY 2023

22.9 %

Japan

44.9 %

billion yen

23.6 %(344.0 billion yen)

(181.0 billion yen)Japan
Trading company(As of July 1, 2024)

Manufacturing & processing baseAikei Farms Yoichi Co., Ltd.

Products & Services

Aikei Farms Shakotan Co., Ltd.

Industrial Materials Department

Sports & Lifestyle Department

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

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

Products

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

Ulvac Coating Corp.

Products

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

Shiojiri Office
Maruishi Techno Co., Ltd.

Film & Performance Materials Department
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 forenvironmentally friendly plastic

Iwate Office
Nagoya Office
I & P Co., Ltd.
*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

Inabata Fine Tech Co., Ltd.

Taiyo Plastics Co., Ltd.

Osaka Head Office
Maruishi Chemical
Trading Co., Ltd.

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

Inabata Optech Co., Ltd.

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

Plastics Division II

17

Kyushu Office(Kirishima)

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

Hamamatsu Office

Tokyo Head Office*(temporary location)* 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 toearly 2026.

18

Inabata’s Business by Region

Southeast Asia and India

Note: Figures for net sales and operating profit are based on FY2023, and the consolidated number of employees is as of March 31, 2024.

181.0 billion yen Operating profit 6.9 billion yen
Consolidated number of employees
2,493

Net sales

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

Koji Nakano
Managing
Executive Officer
General Manager,
Southeast Asia

ActionIn 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 34 bases across 9
countries. We will further cultivate Southeast Asia’s rapidly growing automotive business while
focusing on developing new products in the energy, food, and agriculture fields. Within the energy
field, we will particularly work on products that reduce environmental impact, mainly those related torecycling and solar power. The growing economy of India is of utmost importance. In addition toexisting plastics-related business, we are working on expanding the chemicals and information &electronics areas, with a plan to enhance our workforce and the organization in India.
Business• Plastics for automobiles, home appliances,
OA equipment• Materials for printers• Materials and rubber products for the
automotive industry• Materials and products for packaging

Facilities

Trading company

Manufacturing & processing base

We are involved in businesses in the automotive, environmental and energy, food products, and life
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 arefocused on selling plastics for automobiles and motorcycles, and functional chemicals.

Max Inoue
General Manager,
The Americas

Gurugram
Ahmedabad

India

Hanoi

Myanmar

Pune

Chennai

Initiatives for a decarbonized society

Haiphong

Vietnam
YangonAyutthaya Da Nang
Bangkok
Binan
Samut Prakan
Sriracha
Duc Trong
Philippines
Thailand Chonburi Ho Chi Minh City
PenangKuala Lumpur

As part of the sustainability strategy in our medium-term management
plan NC2026, we began processing garbage bags containing biomass
materials at our manufacturing companies in Japan and overseas, andbegan selling these to the Japanese market. In Thailand, we launcheda resin recycling and processing plant and began sales domestically inthe country. We will also utilize the manufacturing functions at a newcompany launched in Japan to develop plastic of various grades.
We will contribute to building a sustainable society by developing
environmentally friendly products while launching sales activities
in India, such as those related to solar power generation.

Northeast Asia

The Americas

Malaysia

Indonesia• Plastics for the mobility, OA, electric andelectronic, and home appliance areas• Components for FPDs
• Functional chemicals compliant withenvironmental regulations

JakartaBekasiSurabaya

175.3 billion yen Operating profit 3.6 billion yen
Consolidated number of employees
463

Net sales

Facilities

Trading company

Seoul

China

ActionStrengthening collaboration with business locations
and divisions to expand sales
In the Northeast Asia region, which has undergone significant change inthe business environment, we will expand sales in the mobility andsemiconductor sectors by strengthening collaboration among locations
and divisions within the region and offering products with new supply
chain functions that only we can provide. We will also increase exportsof Chinese-made chemicals, plastics, and environmental products.

19

Manufacturing & processing base

DalianTianjinChengduChongqing

Hefei
Wuhan

Taipei
Guangzhou

DongguanHong Kong
ShenzhenTainanTaiwanHsinchuTaichung

Trading company

Manufacturing & processing baseDetroit
NovatoLos Angeles United States
Tijuana

New York

MexicoSilaoQueretaro

Brazil
Sao Paulo

19.8 billion yen Operating profit 0.7 billion yen
Consolidated number of employees
77

Net sales

EuropeWe operate businesses centered on chemicals, energy, automobiles, life sciences, andother 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 materials
for the EV battery field and developing plant-based materials for the cosmetics field.

Kenichi Oba

South Korea

Nanjing
Wuxi
ShanghaiNingboFacilities

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
Beijing• Electronics materials (including those related
to semiconductors)• Digital printing material (inkjet, toner)• Functional chemicals• Plastics• Processed products in agriculture andmarine industries• Components related to the environment andenergy industry (including those for EV
batteries and solar power)• Materials for pharmaceutical products

Improving production facilities at our plastic
compounding factory in Mexico

In this core region that accounts for 23% of our consolidated net sales, we offer businesses leveraging our
network spread over 20 cities in China, Taiwan, and South Korea. Starting mainly with FPD 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 resourcesin growth sectors, such as semiconductors, energy, EV and mobility, medical products and medicine,
agriculture and food products, high-tech materials, and environment-related products.

Executive Officer
General Manager,
Northeast Asia

Business

ActionJohorSingapore

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

Takaharu Ookura Business45.6 billion yen Operating profit 0.7 billion yen
Consolidated number of employees
323

Net sales

ActionBusiness• Inkjet products and materials• EV-related products• Medical products, materials for cosmetics• Functional chemicals• Hydrogen-related products• Synthetic resins (automobiles, recycling)

Focusing on the development and sale of natural
materials with technology from investee start-ups
In France, we have invested in Antofénol, a start-up with unique
technology capable of efficiently generating plant extracts. We arefocusing on developing natural material products that are eco-friendly,
upcycling in nature, and sustainable. Our aim is to expand our businessin a wide range of areas including cosmetics, fragrances, food products,
living environments, and life sciences.

Facilities

Trading company

Manufacturing & processing base

United Kingdom
Normandy

Shrewsbury Germany
Dusseldorf
PragueParis

FranceCzech

Istanbul

Turkey20

Global Network

Inabata’s network extending acrossapproximately 70 bases in 19 countries worldwide
Sales and number of employees by region (FY2023 or as of March 31, 2024)

Trading company

Manufacturing & processing baseJapan
Number of employees

Europe

1,275

The Americas

Number of employees

Net sales

19.8

77

Number of employees

Northeast Asia

billion yen

Net sales

Number of employees

Net sales

175.3

463

Net sales

344.0

45.6

billion yen

323

billion yen

billion yen

Overseas network

19

countries

70

Approx.

bases

Number of employees
Consolidated

4,631

Southeast Asia and India
Net sales

Number of employees

181.0

Non-consolidated

748

2,493

billion yen

EuropeSoutheast Asia / India / Australia

Germany

Dusseldorf

Singapore

FranceSuburb 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,
Duc Trong

United Kingdom Shrewsbury(suburb of
Birmingham)
TurkeyIstanbul

Czech

PragueBangkok,Samut Prakan(suburb of Bangkok),
Ayutthaya,
Sriracha(suburb of Laem Chabang),
Chonburi

China

Myanmar

YangonTaiwanIndia

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

Hsinchu, Tainan,
Taichung, Taipei

South Korea

Seoul

ThailandAustralia

21

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

Japan

The Americas

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

United States

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

MexicoQueretaro, Tijuana,
Silao

Brazil

Sao Paulo(Locations of sales and marketing offices only)

Brisbane22Consolidated Subsidiaries and Affiliates (As of July 1, 2024)

Consolidated subsidiaries
Company Name

Trading company

Countries and Regions

Manufacturing & processing baseBusiness

Japan

Countries and Regions

Business

Guangzhou Inabata Trading Co., Ltd.

China

Guangzhou

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

Shanghai Inabata Trading Co., Ltd.

China

Shanghai

Import & export and sale of synthetic resinsand chemicals

Company Name

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, foodShanghai Inabata Fine Chemical Co., Ltd.

China

ShanghaiProcessing of coating materials

N · I · C Co., Ltd.

Japan

Tokyo

Processing and sale of plastic film products

Inabata Korea & Co., Ltd.

South Korea

Seoul

Import & export and sale of electronic materials

Ordiy Co., Ltd.

Japan

Osaka

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

Taiwan Inabata Sangyo Co., Ltd.

TaiwanHsinchu

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

Kansai Kobunshi Co., Ltd.

Japan

Yamato-Koriyama, Nara

Manufacturing of plastic films

Daigo Tsusho Co., Ltd.

Japan

Shizuoka

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

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

MexicoSilao

Compounding of resins

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.

FranceIssy-les-Moulineaux(Paris suburb)

Import & export and sale of chemicals

Pharmasynthese S.A.S.

FranceNormandy

Manufacturing of pharmaceuticals, materials
for cosmetics, and fine chemicals

Inabata Europe GmbHGermany

Dusseldorf

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

Inabata UK Ltd.

UnitedKingdom

Shrewsbury(Birmingham suburb)

Property management, warehousing

Taiyo Plastics Co., Ltd.

Japan

Hasuda, Saitama

Manufacturing of plastic films

Novacel Co., Ltd.

Japan

Tokyo

Compounding of resins

Maruishi Chemical Trading Co., Ltd.

Japan

Osaka

Sale of chemicals

Maruishi Techno Co., Ltd.

Japan

Nagoya, Aichi

Sale of water treatment chemicals for air
conditioning systems, maintenance of air
conditioning equipment, sale of various paints

Southeast Asia / India
Inabata India Private Ltd.

India

Gurugram(Delhi suburb)

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

PT. IK Precision Indonesia

Indonesia

Bekasi (Jakarta suburb)

Molding and processing of synthetic resins

PT. Inabata Creation Indonesia

Indonesia

Bekasi (Jakarta suburb)

Processing of grip tapes for tennis rackets

PT. Inabata Indonesia

Indonesia

Jakarta

Import & export and sale of synthetic resinsand chemicals

PT. S-IK Indonesia

Indonesia

Bekasi (Jakarta suburb)

Compounding of resins

Inabata Malaysia Sdn. Bhd.

Malaysia

Kuala Lumpur

Import & export and sale of synthetic resins

SIK Color (M) Sdn. Bhd.

Malaysia

Johor

Compounding of resins

IK Plastic Compound Phils. Inc.

Philippines

Binan (Manila suburb)

Compounding of resins

Inabata Philippines, Inc.

Philippines

Binan (Manila suburb)

Sale of synthetic resins

Inabata Singapore (Pte.) Ltd.

Singapore

Singapore

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

Novacel Singapore (Pte.) Ltd.

Singapore

Singapore

Compounding of resins

Apple Film Co., Ltd.

ThailandSamut Prakan(Bangkok suburb)

Manufacturing of plastic films

Hi-Tech Rubber Products Co., Ltd.

ThailandAyutthaya

Molding and processing of rubber products

IKT Consulting Co., Ltd.

Thailand

Bangkok

Sale of machinery and provision of various
services

Inabata Thai Co., Ltd.

Thailand

Bangkok

Import & export and sale of synthetic resins,chemicals, food, and machineryNovacel (Thailand) Co., Ltd.

Thailand

Bangkok

Compounding of resins

SIK (Thailand) Ltd.

ThailandSamut Prakan(Bangkok suburb)

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

Vietnam

Haiphong

Compounding of resins

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

China

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

Inabata Sangyo (H.K.) Ltd.

China

Hong Kong

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

Novacel (Hong Kong) Ltd.

China

Hong Kong

Compounding of resins

SIK Vietnam Co., Ltd.

The Americas

EuropeEquity-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 Name

Other affiliates
Countries 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 sale ofresin products, etc.

Company NameJapan

Southeast Asia
Clover Plastics (Thailand) Co., Ltd.
Northeast Asia
Tianjin Inabata Trading Co., Ltd.

Northeast Asia

23

The Americas
Inabata Brazil Import and Export Ltd.
Australia
Inabata Australia Pty. Ltd.

24

Environment, Society, Corporate Governance

Environmental initiatives

Corporate governance

Carbon Neutrality Declaration 2050

Sustainability-related certifications

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 byits business activities to net zero emissions* by
FY2050. In May 2024, as one of the goals ofsustainability medium-term plan 2026, we also set
interim targets to reduce emissions by 25% by
FY2026 and by 42% by FY2030, both compared to
FY2022 levels. While promoting energy-saving
activities and work efficiency improvements in our
offices and factories, we will also work to introduce
renewable energy and take other measures to reduce
GHG emissions toward achieving carbon neutrality.

In recent years, there has been growing momentum
for environmentally and socially conscious products.
Meanwhile, the world has become more discerning
against the practice of greenwashing*1. Amid thissocial context, the Inabata Group is working to acquire
sustainability-related certifications. As a trading
company supporting the supply chain, we haveobtained chain-of-custody (CoC)*2 certifications suchas forest certifications, sustainable fishing andaquaculture certifications, biomass and recycledmaterial certifications, and biomass fuel certifications.
Through our business, we will contribute to thepreservation of the global environment.

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 development ofsociety.” Based on this Mission, we consider it essential
to develop and build a solid corporate governancesystem that serves as a foundation to ensure* Our own GHG emissions: Scope 1 (use of fuel at our Company) and
Scope 2 (use of electricity and heat purchased by our Company)*1 The practice of attempting to appear environmentally friendly while
only making superficial efforts*2 A mechanism to certify proper management and processing
throughout the processing and logistics stages

Corporate governance system (As of July 1, 2024)
General Meeting of Shareholders

Nominating andRemuneration Committee

AdviceBoard of Directors

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 alsoestablished the Sociedade Luso-Nipónica de Osakain 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 andPortugal as the president of the Sociedade
Luso-Nipónica de Osaka.

ReportIndependent
Auditors

ReportAccounting Audit

Audit

Election /Dismissal

Direction
President

Management
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,
and Katsutaro Inabata established Institut francais duJapon - Kansai, where French language classes andcultural exchange programs between the twocountries are still held today. Additionally, the Société
franco-japonaise d’Osaka, which was set up by our
second president, Taro Inabata, in 1952, continues topromote mutual understanding and friendly relations
between Japan and France to today.

Report /Statement of Opinions

Audit andSupervisory Committee
Direction

Sustainability Committee

Japan–Portugal exchange

Audit /
ReportReportCompliance Committee

Japan–France exchangeElection /Dismissal

Proposal /ReportCollaboration

Election /Dismissal

Business Execution System

Social initiatives

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

Internal Audit Office

ReportShinsa Kaigi*

Internal Audit

Human Rights Affairs Committee
Executive
Officers

Export Control Committee

Sales Divisions / Administrative Offices / Group Companies Worldwide* An institution to review important matters related to business execution, investment and loan projects, and credit.

External evaluation
Inabata & Co., Ltd. has been selected as a constituent stock of the
FTSE Blossom Japan Index and the FTSE Blossom Japan Sector
Relative Index—environmental, social, and governance (ESG)
investment indices developed by global index provider FTSE Russell.
These indices are designed to measure the performance of Japanese
corporations that demonstrate strong ESG practices.
We will continue to advance ESG initiatives to raise our corporate value
over the long term while contributing to building a sustainable society.

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

25

Details of sustainability medium-term plan 2026

26

Financial Highlights

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

Net salesJapan

Operating profit(Billions of yen)Overseas

735.6
296.9

680.9

Japan

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

Ordinary profit

Net profit

766.0
344.0

20.3

20.0

280.5

7.9

21.6

21.1
6.6

(Billions of yen)

22.3
19.1 19.4

8.5

577.5

Dividends per share andshareholder return indicators
Dividends per share
Payout ratio
Total return ratio*

120

115

110

21.3
20.0

(Yen)

16.5

269.0

14.9

13.7

6.7
438.6
400.4

421.9

62.2%

63

13.3
12.1

12.0

47.1%

44.7%

308.5
7.9

27.6%
27.5%

FY2020

FY2021

FY2022

FY2020

FY2023

FY2021

FY2022

FY2020

FY2023

FY2021

FY2022

FY2023

FY202029.4%

FY2021

33.1%

33.5%

FY2022

FY2023

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

47.1%

0.0%

31.2%

360.4

0.1

239.1

(Billions of yen)

The Americas

Europe

6.0%

2.6%
19.8

45.6

Total assets(Billions of yen)

Net assets

Equity capital(Billions of yen)

Equity ratio

427.3
389.0

380.4

200.1
173.8

353.2

174.9

179.4

Northeast Asia

22.9%
175.3

Total

27

766.0

766.0

FY2023

FY2023

Life Industry

ChemicalsSoutheast Asia

7.0%

14.7%

23.6%

53.5

Total

112.6

181.0

206.7
175.8

176.9

49.2%

181.5

45.0%

47.2%

46.8%

Japan

44.9%
344.0

FY2020

FY2021

FY2022

FY2023

FY2020

FY2021

FY2022

FY202328

Management (As of July 1, 2024)

Corporate Information (As of July 1, 2024)

Katsutaro Inabata
Director, President

Toyohiro Akao

Director, Senior Managing Executive Officer
Information & Electronics, Life Industry (assisting), Northeast Asia

Kenichi Yokota

Director, Senior Managing Executive Officer
Administrative Affairs

Katsutaro Inabata

Toyohiro Akao

Director, President

Director, Senior Managing
Executive Officer

Takashi Shigemori

Director(Advisor, Sumitomo Chemical Co., Ltd.)

Takako Hagiwara

Director(Representative Director, DDD Corp.)

Osamu Chonan

Director(Chairman, Kewpie Mirai Tamago Foundation)

Hisayuki Suekawa

Director(Unaffiliated Director, Morishita Jintan Co., Ltd.)

Kenichi Yokota

Takashi Shigemori

Director, Senior Managing
Executive Officer

Director

Nobukazu Kuboi

Director, Audit and Supervisory Committee Member

Minoru Sanari

Director, Audit and Supervisory Committee Member(Special Counsel, Hayakawa Law Offices)

Tomokazu Fujisawa

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

Noriya Yokota

Director, Audit and Supervisory Committee Member(Senior Advisor, Japan Activation Capital, Inc.)

Takako Hagiwara

Osamu Chonan

Director

Director

Shiho Ito

Director, Audit and Supervisory Committee Member(Shiho Ito Certified Public Accountant’s Office)Koji Nakano

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

Company nameInabata & Co., Ltd.

Organization

FoundedInformation &Electronics Division I

October 1, 1890
Incorporated

Information &Electronics Division II

June 10, 1918
Paid-in capital

Information &Electronics Division III

9,364 million yen
Domestic offices
Osaka Head Office, Tokyo Head Office,Nagoya Office, Iwate Office, Shiojiri Office,Shizuoka Office, Hamamatsu Office,
Kyushu Office (Kirishima)

Chemicals Division

Life Industry Division

Overseas offices
Approximately 70 locations in 19 countries including
Singapore, Bangkok, Jakarta, Shanghai, Hong Kong,
Taipei, Los Angeles, New York, and Dusseldorf
Number of employees (As of March 31, 2024)
Non-consolidated: 748(including employees seconded to Group companies)
Consolidated: 4,631
Independent auditors
KPMG AZSA LLC
Securities code

Plastics Division I

General Meetingof Shareholders

Board ofDirectors

Plastics Division II
Audit andSupervisory
Committee

Tokyo Stock Exchange Prime Market 8098

Shinya Kawai
Hisayuki Suekawa

Nobukazu Kuboi

Director

Director, Audit and Supervisory
Committee Member

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

WebsiteFinancial
Management Officewww.inabata.co.jp/english/
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
Northeast Asia (assisting),
General Manager, Information & Electronics Division I

Koichi Noda
Minoru Sanari

Tomokazu Fujisawa

Director, Audit and Supervisory
Committee Member

Director, Audit and Supervisory
Committee Member

General Affairs
OfficeDigital Promotion
OfficeYutaka Takahashi

Managing Executive Officer
Chemicals, Life Industry, the Americas, Europe,
General Manager, Chemicals Division

Plastics Compound
Business Office

Executive Officer
General Manager, Financial Management Office

Takaharu Ookura

Executive Officer
General Manager, Northeast Asia

Masato Tsunoda

Executive Officer
General Manager, Risk Management Office

Hiroyuki Furubayashi

Executive Officer
General Manager, Human Resources Office29

Noriya Yokota

Shiho Ito

Director, Audit and Supervisory
Committee Member

Director, Audit and Supervisory
Committee Member

Notes: 1. Directors Takako Hagiwara, Osamu Chonan, Hisayuki Suekawa,
Minoru Sanari, Tomokazu Fujisawa, Noriya Yokota, and Shiho Ito are
outside directors.
2. Executive officers’ roles noted in brackets are their roles at theplaces they have been seconded.

30