Summary of Consolidated Financial Statements
for First Quarter of Fiscal Year Ending March 31, 2022(Japan GAAP)
August 12, 2021
Listed Exchanges: TSE
Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.
Code:
4028
URL http://www.iskweb.co.jp
Representative:(Title) Executive Director President (Name) Hideo Takahashi
Contact:(Title) Managing Executive Officer (Name) Yasunobu Kawazoe
Scheduled date of securities report submission: August 13, 2021
Scheduled date of dividend payment commencement: —Tel +81-6-6444-1850(Any amount less than one million yen is rounded down to the nearest million yen or nil.)1.

Consolidated Financial Results for First Quarter of Fiscal Year Ended March 31, 2022(April 1, 2021 to June 30, 2021)(1) Consolidated Operating Results
Net sales
millions of yen
29,783
24,6981Q, 2021
1Q, 2020(Note) Comprehensive income:(Percentages represent changes from same period in previous year.)
Profit attributable toOperating income
Ordinary income
owners of parent% millions of yen% millions of yen% millions of yen
%
20.6
2,187
163.4
2,436
309.9
2,435
464.8
-6.0
830
-27.8
594
-45.1
431
-10.7

as of June 30, 2021: 3,179million yen (885.4%), as of June 30, 2020: 322million yen (-4.4%)
Net income per share

Net income per share after full dilution

Yen
60.94
10.78

1Q, 2021
1Q, 2020

Yen(2) Consolidated Financial Position
Total assets
millions of yen
1Q, 2021
184,847
Year ended March 31, 2021
180,021(Reference) Equity capital:

Net assets
millions of yen
81,72379,515

Capital adequacy ratio
%
44.2
44.2

as of June 30, 2021: 81,723million yen, as of March 31, 2021: 79,515 million yen

2. Dividends
Dividends per share(Record date)June 30(Q1-end)

September 30(Q2-end)YenYear ended March 31, 2021
Year ended March 31, 2022
Year ending March 31, 2022
(Forecast)

December 31(Q3-end)March 31
(Year-end)

Annual

Yen
0.00

Yen


Yen
18.00

Yen
18.00

0.00



18.00

18.00

(Note) Modification in the dividend forecast for current quarter: No modification
3. Forecast for Consolidated Results for the Full Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)(Percentages represent forecasted changes from the previous year for the full year results,
and forecasted changes from the same period in the previous year for the interim results.)

Net salesInterim (First 2Qs)
Full year

millionsof yen57,000103,000

Operating income%millionsof yen3,200
6,300

Profit attributable toEarnings per shareowners of parent
millions%%Yenof yen
2,700
67.57


-20.9
3,600
6.7
90.09

Ordinary income
%


21.8

millionsof yen3,100
4,700(Note) Modification in the dividend forecast for current quarter: Modified(Note) The year-on-year changes in operating income and ordinary income for the first six months of the fiscal year ending March
31, 2022 exceeded 1,000% and therefore are referred to as “－”.
(Note) Financial forecasts for the year ending March 31, 2022 are in line with the Accounting Standard for Revenue Recognition.
This is why the rate of increase (decrease) in net sales in FY2020 before applying the standard cannot be announced.
* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-1-4. Other information(1) Significant changes in subsidiaries during the period(changes in specified subsidiaries resulting in the change in consolidation scope): No change(2) Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: Not adopted(3) Changes in accounting principles, procedures, and the method of presentation
1) Changes due to revisions of accounting standards etc.
: Adopted
2) Changes other than those defined in 1) above: Adopted3) Changes in accounting procedures: Not adopted
4) Changes in the method of presentation: Not adopted(4) Issued shares (common shares)
1) Issued shares as of period-end (including repurchased treasury shares)
As of June 30, 2021: 40,383,943 shares
As of March 31, 2021: 40,383,943 shares
2) Number of shares of treasury stock as of period-end
As of June 30, 2021: 428,016 shares
As of March 31, 2021: 427,338 shares
3) Average number of outstanding shares during period
1Q 2021: 39,956,193 shares
1Q 2020: 39,960,583 shares*This quarterly financial results release is not subject to certified public accountants or auditing firm.
* Notes on proper use of forecast and other matters
The forecast of financial results presented in this document is the result of management’s assessment based upon currently available assumptions,prospects and plans for the future. Actual results and dividend payments may differ from these forecasts, due to risks and uncertain factors, such as
the global economy, competition, and foreign currency fluctuations.

* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-2-

5. Consolidated Financial Statements, and Main Notes(1) Consolidated Balance Sheet(Unit: millions of yen)
As of March,2021(summary)

Account Category

As of June 2021

ASSETS
Current Assets
Cash and deposits
Notes and accounts receivable – trade
Notes and accounts receivable-trade and contract assets

25,941

30,077

34,235－―39,910

Merchandise and finished goods
Work in process

31,1805,040

27,961
4,738

Raw materials and supplies

18,253

16,369Other
Allowance for doubtful accounts

3,456-1,104

3,909-1,113

Total current assets

117,003

121,853

Noncurrent Assets
Property, plant and equipment
Machinery, equipment net

20,056

21,105

Others , net

27,051

25,376

Total property , plant and equipment

47,10746,482

551

524

6,187
8,547

6,540
8,867

Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Net defined benefit asset

10

10

Other
Allowance for doubtful accounts

698
-84

653
-84

Total investments and other assets

15,35815,98763,01762,993

180,021

184,847

Total noncurrent assets
Total Assets* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-3-

(Unit: millions of yen)Account Category

As of March,2021(summary)

As of June 2021

LIABILITIESCurrent Liabilities
Notes and accounts payable – trade
Short-term loans payable

14,476

18,063

16,423

16,047

Currents portion of bonds

1,118
614

1,118
468

Income tax payable
Reserve

942

1,438

Other

8,627

9,101

Total current liabilities

42,203

46,238

5,017

4,912

33,1301,741

31,951
1,673

Noncurrent Liabilities
Bonds payable
Long-term loans payable
Provision for environment and safety improvement
Other provision
Net defined benefit liability
Liabilities from application of equity method
Other
Total noncurrent liabilities
Total Liabilities
NET ASSETS
Shareholder’s equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholder’s equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total Liabilities and Net Assets* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation

-4-

227

287

12,693451

12,950
606

5,040

4,505

58,302

56,885100,506

103,124

43,42043,42010,627

10,627

27,872-730

29,337-731

81,18982,653-308-71-1,286

-794

-78

-64

-1,67479,515
180,021-930
81,723
184,847

(2) Consolidated Statements of Income(Unit: millions of yen)
Q1 2021(April 1,2021 toJune 30,2021)

Q1 2020(April 1,2020 toJune 30,2020)

Account Category
Net sales

24,69829,783

Cost of sales

18,083

22,344Gross profit

6,615

7,438

Selling, general and administrative expenses

5,784

5,250

830

2,187

Interest income

84Dividends income
Foreign exchange income

91
―

136
282

Gain on sales of raw materials
Other

90
44

87
64

Total non-operating income

234

574

Interest expenses
Financial fee

139
62

138
93

Equity in losses of affiliates

169

31

Foreign exchange loss
Other

9
88

―
61

Total non-operating expenses

470

326

594

2,436

Gain on forgiveness of debts
Other

―
―

552
11

Total extraordinary income―

563

Loss on disposal of non-current assets

314

283

Total extraordinary loss

314

283

279

2,717

Operating income
Non-operating income

Non-operating expenses

Ordinary income
Extraordinary income

Extraordinary loss

Income before income taxes and minority interests
Income taxes

184

452

Income taxes – deferred

-335

-170

Total income taxes

-151

282

Net income

431

2,435

Profit attributable to owners of parent

431

2,435

* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-5-

(Unit: millions of yen)
Q1 2020(April 1,2020 toJune 30,2020)

Account Category
Profit

Q1 2021(April 1,2021 toJune 30,2021)

431

2,435

Valuation difference on available for sale securities

88

237

Deferred gains or losses on hedges

0

―

-194

505

Other comprehensive income

Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax

15

14

Equity in profit / loss of affiliated companies

-19

-13

Total other comprehensive income

-108

744

322

3,179

322

3,179

Comprehensive income(Breakdown )Comprehensive income attributable to the parent company* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-6-6. Segment Information【Business Segment Information】
1Q of Fiscal Year Ended March 31, 2021 (April 1, 2020 to June 30, 2020)(1) Information relating sales, profits, losses, for each reporting unit
(Unit: millions of yen)
Inorganic
Chemicals
Sales(1) Sales to externalcustomers(2) Intersegment sales
and transfers
Total
Segment profit

Organic
Chemicals

Other
Businesses

Elimination/
Corporate

Total

Consolidated

11,191

12,640866

24,698―24,698

―

―

515

515

-515

―

11,191388

12,640
1,014

1,381
23

25,214
1,426

-515
-596

24,698830(Note) 1. Adjustment include the following items(1) Adjustment in segment profit (-￥596million) includes elimination of transaction between segments(￥36million) andcorporate expenses not allocated to reporting segments(-￥632million). Corporate expenses mainly comprise general
expenses not allocated segments.
(2) Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated income statement.
(2) Geographical information
Net Sales(Unit: millions of yen)Japan
10,332

Asia

America
3,649Europe

4,155

Other

Total

6,494

66

24,698(Note) 1. Net sales by geographic segment are based on nations or regions where customers reside.
2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses.
Countries and regions included in each geographic segment are follows, excluding Japan:(1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, Singapore and India(2) Americas : United States of America, Canada, Brazil, Argentina, and Mexico(3) Europe : Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and East Europe and Middle East regions(4) Other: Australia, New Zealand and Africa(3) Information concerning impairment loss or goodwill on noncurrent assets by segment
We do not note any significant changes.
【Business Segment Information】
1Q of Fiscal Year Ended March 31, 2022 (April 1, 2021 to June 30, 2021)(1)Information relating sales, profits, losses, for each reporting unit

Inorganic
Chemicals
Sales(1) Sales to externalcustomers(2) Intersegment sales
and transfers
Total
Segment profit

Organic
Chemicals

Other
Businesses

Total

Adjustment(Unit: millions of yen)Amount reported on
consolidated financial
statements

14,263

14,755764

29,783―29,783

―

―

691

691

-691

―

14,263
1,585

14,755
1,153

1,455
28

30,474
2,767

-691
-579

29,7832,187(Note) 1. Adjustment include the following items(1) Adjustment in segment profit (-￥579million) includes elimination of transaction between segments(￥42million) andcorporate expenses not allocated to reporting segments(-￥622million). Corporate expenses mainly comprise general
expenses not allocated segments.
(2) Segment profit is adjusted to be consistent with operating income shown on the quarterly consolidated income statement.

* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-7-

(2)Geographical information
Net Sales(Unit: millions of yen)Japan
11,021

Asia

America
5,364Europe

5,169

Other
8,062

Total
165

29,783(Note) 1. Net sales by geographic segment are based on nations or regions where customers reside.
2. Grouping of countries and regions is based on the geographic proximity and relevance of businesses.
Countries and regions included in each geographic segment are follows, excluding Japan:(1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, Singapore and India(2) Americas : United States of America, Canada, Brazil, Argentina, and Mexico(3) Europe : Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and East Europe and Middle East regions(4) Other: Australia, New Zealand and Africa(3) Information concerning impairment loss or goodwill on noncurrent assets by segment
We do not note any significant changes.
(4) Matters Regarding the Changes in Reportable Segment, etc.

The Accounting Standard for Revenue Recognition, etc. has been applied since the beginning of the first quarter of thecurrent consolidated fiscal year. As a result of a change in the method of accounting treatment for revenue recognition,
the method of measuring profit or loss in each business segment has also been changed accordingly.
As a result of this change, segment sales for the first three months of the current consolidated fiscal year decreased by
26 million yen for the “Inorganic Chemicals” segment, 274 million yen for the “Organic Chemicals” segment, and
160 million yen for the “Other Business” segment, compared with the previous method. Also, segment profit of the“Inorganic Chemicals” decreased by 4 million yen and that segment profit of the “Other Business” increased by 26
million, compared with the previous method.

* This is an English translation of Summary originally written in Japanese and disclosed to TSE
For official purposes, the Japanese version takes preference over this English translation-8-