Summary of Consolidated Financial Statements
for Fiscal Year Ended March 31, 2018 (Japan GAAP)
June 2, 2018
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) Kenichi Tanaka
Contact:(Title) Managing Executive Officer (Name) Yasunobu Kawazoe Tel +81-6-6444-1850
Scheduled date of a general meeting of shareholders: June 28, 2018
Scheduled date of securities report submission: June 29, 2018
Scheduled date of dividend payment commencement: —(Any amount less than one million yen is rounded down to the nearest million yen or nil.)
1. Consolidated Financial Results for Fiscal Year Ended March 31, 2018 (April 1, 2017 to March 31, 2018)(1) Consolidated Operating Results(Percentages represent changes from same period in previous year.)
Profit attributable to
Net sales
Operating income
Ordinary income
owners of parent
millions of yen% millions of yen% millions of yen% millions of yen%
FY ended March 31, 2018
108,001
6.3
10,022
19.1
8,414
41.5
3,442
-9.5
FY ended March 31, 2017
101,601
-1.3
8,415
1.2
5,948
-15.1
3,804 -58.4(Reference) Comprehensive income
FY ended March 31, 2018: 4,166million yen (2.8%), FY ended March 31, 2017: 4,053million yen (-50.3%)
Net income per Net income per share
Ratio of ordinary
Ratio of operating
Return on equity
share
after full dilution
income to total assets income to net sales
Yen
Yen
%
%
%
FY ended March 31, 2018
86.12
5.3
5.3
9.3

FY ended March 31, 2017
95.15
6.2
3.7
8.3

(Reference) Equity in earnings (losses) of affiliates:
FY ended March 31, 2018: -51 million yen, FY ended March 31, 2017:-951 million yen* Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share. Accordingly, net income
per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.
(2) Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
millions of yen
Millions of yen%
Yen
FY ended March 31, 2018
159,767
67,13742.0
1,679.77
FY ended March 31, 2017
156,871
62,98140.1
1,575.53(Reference) Equity capital: FY ended March 31, 2018: 67,137 million yen, FY ended March 31, 2017:62,981 million yen(3) Consolidated Cash Flows
Cash flow from operating Cash flow from investing Cash flow from financing Balance of cash and cash
activities
activities
activities
equivalents at period end
millions of yen
millions of yen
millions of yen
millions of yen
FY ended March 31, 2018
16,607-6,030-8,50830,297
FY ended March 31, 2017
14,631-5,950-9,62728,156

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

September 30(Q2-end)December 31(Q3-end)

Yen

Yen

Yen
Year ended March 31, 2017
Year ended March 31, 2018Year ending March 31, 2019
(Forecast)March 31
(Year-end)

Yen

Total
Dividend
dividends paid payout ratio
Annual(annual)(consolidated)

Yen




0.00
0.00




0.00
0.00

0.00
0.00



0.00



0.00

0.00

* 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-

millions ofyen

Ratio ofdividends to
net assets(consolidated)

%




%



3. Forecast for Consolidated Results for the Full Year Ending March 31, 2019 (April 1, 2018 - March 31, 2019)(Percentages represent forecasted changes from the previous year for the full year results, andforecasted changes from the same period in the previous year for the interim results.)

Net salesInterim (First 2Qs)
Full year

millionsof yen53,000109,000

Operating income
%
0.2
0.9

millionsof yen-100
4,400

Profit attributable toEarnings per shareowners of parent
millions%%Yenof yen-1,000-25.01


-60.8
1,800
-47.7
45.03

Ordinary income
%


-56.1

millionsof yen-700
3,300

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) Changes in accounting principles, procedures, and the method of presentation
1) Changes due to revisions of accounting standards etc.
: Not adopted
2) Changes other than those defined in 1) above: Not adopted
3) Changes in accounting estimates: Not adopted
4) Restatement: Not adopted(3) Issued shares (common shares)
1) Number of shares outstanding at the end of the period (including repurchased treasury shares)
FY ended March 31, 2018: 40,383,943 shares
FY ended March 31, 2017: 40,383,943 shares
2) Number of treasury shares at the end of the period
FY ended March 31, 2018:415,701 shares
FY ended March 31, 2017:409,374 shares
3) Average number of shares during the period
FY ended March 31, 2018:39,971,331 shares
FY ended March 31, 2017: 39,979,359 shares* Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share. Accordingly, thenumber of shares outstanding at the end of the period, number of treasury shares at the end of the period and average number ofshares during the period have been calculated as if the said share consolidation was conducted at the beginning of the previous
fiscal year.
(Reference) Summary of Non-Consolidated Operating Results
1. Non-Consolidated Financial Results for Fiscal Year Ended March 31, 2018 (April 1, 2017 to March 31, 2018)(1) Non-Consolidated Operating Results(Percentages represent changes from same period in previous year.)Net sales
Operating income
Ordinary income
Net income
millions of yen% millions of yen% millions of yen% millions of yen%
FY ended March 31, 2018
81,281
8.6
9,453
61.6
7,883
48.2
3,124 -16.1
FY ended March 31, 2017
74,847
-2.5
5,849
35.2
5,319
71.8
3,725

Net income per shareafter full dilution
Yen
Yen
FY ended March 31, 201878.17
FY ended March 31, 201793.19
* Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share. Accordingly, net income
per share has been calculated as if the said share consolidation was conducted at the beginning of the previous fiscal year.
Net income per share(2) Non-Consolidated Financial Position
Total assets
Net assets
Capital adequacy ratio
Net assets per share
millions of yen
millions of yen%
Yen
FY ended March 31, 2018
144,123
56,92339.5
1,424.22
FY ended March 31, 2017
141,946
53,69637.8
1,343.27(Reference) Equity capital: FY ended March 31, 2018: 56,923 million yen, FY ended March 31, 2017:53,696 million yen
2. Forecast for Non-Consolidated Financial Results for Fiscal Year Ending March 31, 2019 (April 1, 2018 to March 31, 2019)(Percentages represent forecasted changes from the previous year for the full year results, andforecasted changes from the same period in the previous year for the interim results.)

Full year

Net sales
millionsof yen81,000%-0.3

Operating income
millions%of yen1,800-81.0* 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-

Ordinary income
millions%of yen1,900-75.9

Net income
Earnings per share
millions%Yenof yen
1,100
-64.8
27.52

*This 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 theglobal 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-3-5. Consolidated Financial Statements(1) Consolidated Balance Sheet
Account Category(Unit: millions of yen)
Current consolidated FY(March 31, 2018)

Previous consolidated FY(March 31, 2017 )ASSETS
Current Assets
Cash and deposits
Notes and accounts receivable – trade28,34625,40730,29729,880

Merchandise and finished goods

30,242

22,908Work in process
Raw materials and supplies

3,932
12,9304,525
14,060

Deferred tax assets
Other

1,438
1,901

2,166
2,128

Allowance for doubtful accounts

-194

-413

104,004

105,554

35,92236,809

Accumulated depreciation-24,112-24,759

Buildings and structures, net

11,81012,050Machinery, equipment and vehicles

Total current assets
Noncurrent Assets
Property, plant and equipment
Buildings and structures

109,327

109,477

Accumulated depreciation-92,128-92,116022,258

17,19817,360Land
Leased assets

5,312
3,077

5,709
2,762

Accumulated depreciation-1,819-1,682

Leased assets, net

1,258

1,080

Construction in progress
Other

2,970
3,908

3,972
3,870

-3,274-3,200634

670

39,18340,843

Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible asset
Leased assets

7

9

Other

173

381

Total intangible assets

181

391

Investment securities

3,775

4,184

Deferred tax assets
Net defined benefit asset

7,962
16

7,420
14

Other

1,914

1,493

Allowance for doubtful accounts

-167

-133

Total investments and other assets

13,501

12,978Investments and other assets

Total non-current assets

52,86654,213

Total Assets

156,871

159,767* 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-

Previous consolidated FY(March 31, 2017)

Current consolidated FY(March 31, 2018)

Notes and accounts payable – trade
Short-term loans payable

10,341

12,08813,65010,410Current portion of long-term loans payable

13,489280

13,537390

Account Category
LIABILITIESCurrent Liabilities

Current portion of bonds
Lease obligations

477

448

743
3,717

1,554
4,337

653

767

30
357

35
133



261

6

1

Other

3,562

4,024

Total current liabilities

47,31047,990

Income taxes payable
Accrued expenses
Provision for bonuses
Provision for sales returns
Provision for environment and safety improvement
Provision for repairs
Provision for loss on liquidation of subsidiaries andassociates

Non-current Liabilities
Bonds payable

280

2,010

27,500878

20,575
720

1,052

3,641

64
12,60240
12,777

780

716

Other

605
2,814

908
3,248

Total non-current liabilities

46,57944,63893,89092,62943,42010,62643,42010,627

11,293

14,735Long-term loans payable
Lease obligations
Provision for environment and safety improvement
Provision for repairs
Net defined benefit liability
Asset retirement obligations
Liabilities from application of equity method

Total Liabilities
NET ASSETS
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income

-709

-719

64,631

68,064

565

669

-0
-1,670
-1,071-545-524-1,650-926

Total net assets

62,981

67,137

Total Liabilities and Net Assets

156,871

159,767* 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-(2) Consolidated Statements of Income

Account Category
Net sales

Previous consolidated FY(April 1, 2016 to
March 31, 2017)
101,601(Unit: millions of yen)
Current consolidated FY(April 1, 2017 toMarch 31, 2018)
108,001

Cost of sales

70,62374,070Gross profit

30,97833,930

Selling, general and administrative expenses

22,562

23,908Operating income

8,415

10,022

Interest income
Dividend income

30
96

35
181

Commission fee

186

150

Gain on sales of raw materials
Other

103
214

99
181

Total non-operating income

631

649

1,125
951

919
51

Foreign exchange losses

372

708

Other

650

577

Non-operating income

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method

Total non-operating expenses

3,099

2,257

5,948

8,414

Subsidy income

32

6Total extraordinary income

32

6Loss on disposal of non-current assets

566

612

Impairment loss
Provision of allowance for environment and safety
improvement
Other

967

55

1

2,783

32

52

Ordinary income
Extraordinary income

Extraordinary losses

Total extraordinary losses

1,567

3,503

Income before income taxes

4,413

4,917

Income taxes – current

939

1,563

Income taxes – deferred

-330

-88

Total income taxes

608

1,474

Net income

3,804

3,442

Profit attributable to owners of parent

3,804

3,442

* 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-

(Consolidated Comprehensive Income Statement)
Previous consolidated FY(April 1, 2016 to
March 31, 2017)
3,804(Unit: millions of yen)
Current consolidated FY(April 1, 2017 toMarch 31, 2018)
3,442

Deferred gains or losses on hedges

321
-0

103
0

Foreign currency translation adjustment

-419

718

Remeasurements of defined benefit plans
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income

234

21

112

-119

Account Category
Net income
Other comprehensive income
Valuation difference on available-for-sale securities

249

723

Comprehensive income

4,053

4,166

(Comprehensive income attributable to)Comprehensive income attributable to owners of parent

4,053

4,166

* 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-

(3) Statement of Changes in Net Assets
Previous consolidated FY (April 1, 2016 to March 31, 2017)(Unit: millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning of current period

Capitalsurplus43,420Retainedearnings

10,626

7,489

TreasurysharesTotal shareholders'equity-702

60,834

Changes of items during period
Profit attributable to owners of parent

3,804

Purchase of treasury shares
Disposal of treasury shares

0

3,804
-6

-6

0

0

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period



0

3,804

-6

3,797

43,42010,626

11,293-709

64,631

Accumulated other comprehensive income
Valuationdifferenceonavailablefor-salesecurities
Balance at
beginning ofcurrent period

243

Deferred
gains orlosses onhedges

Foreigncurrencytranslation
adjustment

Remeasurements ofdefined benefit plans

Total
accumulated
othercomprehensive
income-1,363-780-1,900Total net assets

58,933

Changes of
items during
periodProfit attributable to3,804

owners of parent
Purchase ofTreasury shares-6

Disposal oftreasury shares0

Net changesof items otherthanshareholders'equity

322

-0

-307

234

249

249

Total changesof items
during period

322

-0

-307

234

249

4,047

Balance at
end of current
period565-0-1,670-545-1,65062,981* 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-

Current consolidated FY (April 1, 2017 to March 31, 2018)(Unit: millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning of current period

Capitalsurplus43,420Retainedearnings

10,626

Treasuryshares

11,293

Total shareholders'equity-709

64,631

Changes of items during period
Profit attributable to owners of parent

3,442

Purchase of treasury shares
Disposal of treasury shares

0

3,442
-10

-10

0

0

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period



0

3,442

-10

3,432

43,42010,627

14,735-719

68,064

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at
beginning ofcurrent period

565

Deferred
gains orlosses onhedges-0Foreigncurrencytranslation
adjustment

Remeasurements ofdefined benefit plans

Total
accumulated
othercomprehensive
income-1,670-545-1,650Total net assets

62,981

Changes of
items during
periodProfit attributable toowners of parent

3,442

Purchase oftreasury shares-10

Disposal oftreasury shares0

Net changesof items otherthanshareholders'equity

103

0

599

21

723

723

Total changesof items
during period

103

0

599

21

723

4,156

Balance at
end of current
period669--1,071-524-926

67,137* 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-9-

(4) Statement of Consolidated Cash Flows

Account Category(Unit: millions of yen)Previous consolidated FY Current consolidated FY(April 1, 2016 to(April 1, 2017 toMarch 31, 2017)
March 31, 2018)

Cash flows from operating activities
Income before income taxes

4,413

4,917

Depreciation and amortization

4,660

4,638

Impairment loss

967

55

Increase (decrease) in allowance for doubtful accounts

-14

186

Increase (decrease) in net defined benefit liability

-2

199

-16

-5

-473

2,364

Increase (decrease) in other provision

-127

355

Interest and dividend income

-127

-217

Interest expenses

1,125

919

146

211

1,087

83

Increase (decrease) in provision for loss on liquidation ofsubsidiaries and associates
Increase (decrease) in provision for environment and safety
Improvement

Foreign exchange losses (gains)Share of (profit) loss of entities accounted for using equity
methodLoss (gain) on disposal of noncurrent assets

240

219

Decrease (increase) in notes and accounts receivable-trade-617-4,060Decrease (increase) in inventories

5,267

6,089

5

89

Increase (decrease) in notes and accounts payable-trade

584

1,579

Increase (decrease) in other current liabilities

-443

240

Decrease (increase) in other current assets

Other

22

43

16,697

17,911116

126-1,142

-873

15

6

Income taxes paid

-1,054-563

Cash flows from operating activities

14,631

16,607

SubtotalInterest and dividends income received
Interest expenses paid
Proceeds from insurance income* 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-10-

Account Category

Previous consolidated FY(April 1, 2016 to
March 31, 2017)(Unit: millions of yen)
Current consolidated FY(April 1, 2017 toMarch 31, 2018)

Cash flows from investing activities
Payments into time deposits-0-0Proceeds from withdrawal of time deposits

190

Purchase of investment securities-1,094-73

Purchase of non-current assets-5,303-5,851

Proceeds from sales of non-current assets

581

160

Payments of loans receivable

-362

-664

Collection of loans receivable

255

260

Others-27-53-5,950-6,030Cash flows from investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from issuance of bonds
Redemption of bonds
Repayments of lease obligations
Repayments of installment payables
Proceeds from deposits received-208-3,240

5,890

8,980

-14,159

-15,857
2,400

-280

-560

-558
-91

-512
-134

1,611

2,744

Net decrease (increase) in treasury shares-1,825-6-2,318-9Cash flows from financing activities-9,627-8,508-106

71

Repayment of deposits payable

Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents-1,052

2,140

Cash and cash equivalents at beginning of period

29,20828,156

Cash and cash equivalents at end of period

28,15630,297* 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-11-

(Segment Information)
1. Business Segment Information
Previous consolidated fiscal year (April 1, 2016 to March 31, 2017)
Inorganic
Chemicals

Organic
Chemicals(Unit: millions of yen)

Other
Businesses

Total

Adjustments(Note 1)

Amount reported
on consolidated
financialstatements(Note 2)

Net sales
Sales to outside
customers
Internal sales ortransfers among
segments
Total
Segment profit
Segment assets
Other elements
Depreciation/amortization expenses
Impairment loss
Increase in tangible
and intangible Fixed
Assets47,05451,063

3,033

101,601

101,601





3.593

3,593

-3,593



47,504
5,019
67,55551,063
4,910
52,390

6,627
516
2,943

105,195
10,447
122,889-3,593-2,031
33,982

101,601
8,415
156,871

3,157

897

95

4,110

104

4,215

62

730

-

792

174

967

3,982

1,408

2

5,393

48

5,442

(Note) 1. Adjustments include the following items:(1) “Adjustments in segment profit” (− 2,031million) includes elimination of transactions between segments (− 42million) and corporate
expenses not allocated to reporting segments (− 1,988 million). Corporate expenses mainly comprise general expenses not allocable toreporting segments.
(2) “Adjustments in segment assets” ( 33,982llion) includes offsetting of receivables and payables between segments (− 762million) andcorporate assets not allocated to reporting units ( 34,745million). Corporate assets mainly comprise surplus funds (cash and securities),
long-term investments (investment securities) and corporate assets, all held by the parent company and not allocable to reporting
segments.
2. Segment profits are adjusted with the operating profit reported on the consolidated profit and loss statement.

￥

￥

￥

￥

￥

￥

Current consolidated fiscal year (April 1, 2017 to March 31, 2018)
Inorganic
Chemicals

Organic
Chemicals(Unit: millions of yen)
Other
Businesses

Total

Adjustments(Note 1)

Amount reported
on consolidated
financialstatements(Note 2)

Net sales
Sales to outside
customers
Internal sales ortransfers among
segments
Total
Segment profit
Segment assets
Other elements
Depreciation/amortization expenses
Impairment loss
Increase in tangible
and intangible Fixed
Assets54,44150,4603,098

108,001

108,001





4,937

4,937

-4,937

54,441
7,984
69,54250,4603,575
51,705

8,035
618
2,798

112,938
12,177124,046-4,937-2,15535,721

108,001
10,022
159,767

3,178

873

48

4,100

114

4,214

55





55



55

5,334

788

23

6,146

293

6,439

(Notes) 1. Adjustments include the following items:(1) “Adjustments in segment profit” (− 2,155million) includes elimination of transactions between segments (− 79 million) and corporate
expenses not allocated to reporting segments (− 2,076million). Corporate expenses mainly comprise general expenses not allocable toreporting segments.
(2) “Adjustments in segment assets” ( 35,721million) includes offsetting of receivables and payables between segments (− 958million)
and corporate assets not allocated to reporting units ( 36,679million). Corporate assets mainly comprise surplus funds (cash andsecurities), long-term investments (investment securities) and corporate assets, all held by the parent company and not allocable toreporting segments.
2. Segment profits are adjusted with the operating profit reported on the consolidated profit and loss 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-12-

【Related information】

Previous consolidated fiscal year (April 1, 2016 to March 31, 2017)
1. Information by product and service
Disclosure of this information is omitted since its classification is identical with the classification of reporting segments.

2. Geographical information(1) Net sales by region(Unit: millions of yen)
Japan

Asia
46,733(Notes)Americas18,709Europe11,298

Other

Total

24,583

275

101,601

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 andregions included in each geographic segment are as follows, excluding Japan:(1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, and Singapore(2) Americas: United States, Canada, Brazil, Argentina, and Mexico(3) Europe: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and Eastern Europe, plus the Middle
East(4) Other: Australia, New Zealand, and Africa(2) Tangible fixed assets(Unit: millions of yen)
Japan

Asia
38,130(Notes)Americas137

Europe

Total

885

30

39,183

1. Tangible fixed assets 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 as follows, excluding Japan:(1) Asia: Taiwan(2) Americas: United States(3) Europe: Belgium

Current consolidated fiscal year (April 1, 2017 to March 31, 2018)
1. Information by product and service
Disclosure of this information is omitted since its classification is identical with the classification of reporting segments.

2. Geographical information(1) Net sales by region(Unit: millions of yen)
Japan

Asia
50,308(Notes)Americas22,928Europe12,38422,097

Other

Total
283

108,001

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 andregions included in each geographic segment are as follows, excluding Japan:(1) Asia: China, Taiwan, South Korea, Thailand, Indonesia, and Singapore(2) Americas: United States, Canada, Brazil, Argentina, and Mexico(3) Europe: Germany, Netherlands, France, the United Kingdom, Belgium, Italy, and Eastern Europe, plus the Middle
East(4) Other: Australia, New Zealand, and Africa* 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-13-

(2) Tangible fixed assets(Unit: millions of yen)
Japan

Asia
39,809(Notes)Americas141

Europe
849

Total
43

40,843

1. Tangible fixed assets 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 as follows, excluding Japan:(1) Asia: Taiwan(2) Americas: United States(3) Europe: Belgium

・Per Share Information

Previous consolidated fiscal year
(April 1, 2016 to March 31, 2017)

Current consolidated fiscal year
(April 1, 2017 to March 31, 2018)

Net assets per share

1,575.53yen

1,679.77 yen

Net income per share

95.15 yen

86.12 yen

(Notes) 1. Information on diluted earnings per share is not given since there are no potential ordinary shares.
2. Effective October 1, 2016, the Company consolidated its common shares at the ratio of 10 shares to 1 share.
Accordingly, net income per share have been calculated as if the said share consolidation was conducted at the
beginning of the previous fiscal year.

Basis for calculation
・Net income per share
Previous consolidated fiscal year
(April 1, 2016 to March 31, 2017)

Current consolidated fiscal year
(April 1, 2017 to March 31, 2018)

3,804

3,442

Amount not attributable to common stock(million yen)

Net income attributable to parent company
shareholders of common stock (million yen)

3,804

3,442

Average number of shares of common stockduring period (1,000 shares)

39,97939,971

At end of previous consolidated FY(March 31, 2017)

At end of current consolidated FY(March 31, 2018)

62,981

67,137

Net assets attributable to common stock at theend of consolidated fiscal year (million yen)

62,981

67,137

Number of shares of common stock used as
basis for calculation of net assets per share(1,000 shares)

39,97439,968

Profit attribute to owners of parent(million yen)

Basis for calculation
・Net assets per share

Total net assets on consolidated balance sheet(million yen)Amount deducted from total net assets on
consolidated balance sheet : (million yen)

* 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-14-6. Non-Consolidated Financial Statements, etc.
(1) Balance Sheet(Unit: millions of yen)
Current fiscal year
(March 31, 2018)

Previous fiscal year
(March 31, 2017)

Account Category
ASSETS
Current Assets
Cash and deposits
Notes receivable – trade24,180361

25,201
1,050

Accounts receivable – trade29,56329,936Merchandise and finished goods
Work in process

19,9792,917

17,8703,569

Raw materials and supplies
Advance payments - trade

7,393
260

7,680
22

190

209

747
1,394

720
1,700

Prepaid expenses
Deferred tax assets
Short-term loans receivable
Other

832

765

Allowance for doubtful accounts

-333

-468

87,48888,260

Buildings
Structures

6,642
3,100

6,639
3,412

Machinery and equipment

12,611

12,702

VehiclesTools, furniture and fixtures

15
499

19
487

Land

4,500

4,499

Leased assets
Construction in progress

1,152
2,866

1,012
3,023

Total property, plant and equipment

31,39031,797

145
7

341
9

Total current assets
Noncurrent Assets
Property, plant and equipment

Intangible assets
SoftwareLeased assets
Other

8

8

162

359

Investments and other assets
Investment securities

1,591

1,761

Shares of subsidiaries and associates

11,767

11,912

551
96

2,009
91

Total intangible assets

Long-term loans receivable from subsidiaries and affiliates
Long-term loans receivable from employees
Long-term prepaid expenses

1,341

939

Deferred tax assets
Other

7,397
326

6,838
302

Allowance for doubtful accounts

-167

-149

Total investments and other assets

22,90523,705

Total non-current assets

54,45855,862

Total Assets

141,946

144,123* 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-15-

(Unit: millions of yen)
Current fiscal year
(March 31, 2018)

Previous fiscal year
(March 31, 2017)

Account Category
LIABILITIESCurrent Liabilities
Notes payable – trade

276

194

Accounts payable – trade
Short-term loans payable

7,569
13,410

7,029
9,830

Current portion of long-term loans payable

12,25912,939Current portion of bonds
Lease obligations

280
437

390
414

Accounts payable – other

2,897

4,643

Accrued expenses
Income taxes payable

2,912
459

3,520
959

Deposits received

3,494

4,607

463
357

545
133

Other

1,305

1,299

Total current liabilities

46,12446,508Provision for bonuses
Provision for environment and safety improvement

Non-current Liabilities
Bonds payable
Long-term loans payable
Lease obligations

280

2,010

24,325804

18,893679

Long-term deposits received

3,019

2,604

Provision for retirement benefits
Provision for environment and safety improvement

10,652
1,052

10,844
3,641

Asset retirement obligations
Other
Total non-current liabilities

779

714

1,212

1,302

42,12540,691

88,24987,19943,42043,420Legal capital surplus

9,155

9,155

Other capital surplus

640

640

Total capital surpluses

9,796

9,796

Legal retained earnings

269

269

Other retained earnings
Retained earnings brought forward

-63

3,061

Total Liabilities
NET ASSETS
Shareholders’ equity
Capital stock
Capital surplus

Retained earnings

Total retained earnings
Treasury shares
Total shareholders’ equity

206

3,331

-212

-222

53,21056,325486

598

Valuation and translation adjustments
Valuation difference on available-for-sale securities

486

598

Total net assets

Total valuation and translation adjustments

53,69656,923

Total Liabilities and Net Assets

141,946444,123* 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-16-

(2) Statements of Income
Account Category
Net sales(Unit: millions of yen)Previous fiscal year
Current fiscal year
(April 1, 2016 to March 31, 2017) (April 1, 2017 to March 31, 2018)
74,847
81,281

Cost of sales

51,70153,729Gross profit

23,14527,552

Selling, general and administrative expenses

17,29618,099Operating income

5,849

9,453

33
1,294

54
263

Gain on sales of raw materials
Other

103

99

151

117

Total non-operating income

1,583

535

1,154

965

454
505

573
566

2,114

2,105

5,319

7,883

30

6

30

6

502

553

967



Provision of allowance for environment and safety
improvement

1

2,783

Other

30

51

Total extraordinary losses

1,501

3,388

Income before income taxes

3,847

4,501

Income taxes - current

363

842

Income taxes – deferred

-241

533

Non-operating income
Interest income
Dividend income

Non-operating expenses
Interest expenses
Foreign exchange gains
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Impairment loss

Total income taxes

121

1,376

Net income (loss)

3,725

3,124

* 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-17-

(3) Statement of Changes in Net Assets
Previous consolidated FY (April 1, 2016 to March 31, 2017)(Unit: millions of yen)
Shareholders’ equity
Capital surplus
Capitalstock

Balance at beginningof current period

Legalcapitalsurplus

Othercapitalsurplus9,155

43,420Retained earnings

Total capitalsurpluses

640

Legal
retainedearnings

9,795

Other retained
earnings

Retained earnings
brought forward

269

Total retained
earnings-3,789-3,519

3,725

3,725

Changes of items
during period
Net income
Purchase of treasury
shares
Disposal of treasury
shares00

Net changes of items
other thanshareholders' equity
Total changes of
items during period





0

0



3,725

3,725

Balance at end ofcurrent period

43,420

9,155

640

9,796

269

-63

206

Valuation and translation
adjustments

Shareholders’ equity

TreasurysharesBalance at beginningof current period

-205

Total
shareholders'equityValuationdifference on
available-forsale securities

Total valuationand translation
adjustments

49,491

202

202

Total net
assets49,694

Changes of items
during period
Net income

3,725

3,725

Purchase of treasury
shares-6-6-6

Disposal of treasury
shares000

Net changes of items
other thanshareholders' equity

283

283

283

Total changes of
items during period

-6

3,719

283

283

4,002

Balance at end ofcurrent period-212

53,210486

486

53,696* 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-18-

Current consolidated FY (April 1, 2017 to March 31, 2018)(Unit: millions of yen)
Shareholders’ equity
Capital surplus
Capitalstock

Balance at beginningof current period

Legalcapitalsurplus

Othercapitalsurplus9,155

43,420Retained earnings

Total capitalsurpluses

640

Other retained
earnings

Legalretainedearnings

9,796

Retained earnings
brought forward

269

Total retained
earnings

-63

206

3,124

3,124

Changes of items
during period
Net income
Purchase of treasury
Shares
Disposal of treasury
Shares00

Net changes of items
other thanshareholders' equity
Total changes of
items during period
Balance at end ofcurrent period





0

0



3,124

3,124

43,420

9,155

640

9,796

269

3,061

3,331

Valuation and translation
adjustments

Shareholders’ equity

TreasurysharesBalance at beginningof current period

-212

Total
shareholders'equityValuationdifference on
available-forsale securities

Total valuationand translation
adjustments

53,210486

486

Total net
assets53,696

Changes of items
during period
Net income

3,124

3,124

Purchase of treasury
shares

-10

-10

-10

Disposal of treasury
shares000

Net changes of items
other thanshareholders' equity

111

111

111

Total changes of
items during period

-10

3,115

111

111

3,227

Balance at end ofcurrent period-222

56,325598

598

56,923* 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-19-