Summary of Consolidated Financial Statements
for Third Quarter of Fiscal Year Ending March 31, 2021(Japan GAAP)
February 10, 2021
Listed Exchanges: TSE
Name of Listed Company: Ishihara Sangyo Kaisha, Ltd.
Code:
4028
URL https://www.iskweb.co.jp/
Representative:(Title) Executive Director President (Name) Kenichi Tanaka
Contact:(Title) Director(Name) Yasunobu Kawazoe
Scheduled date of securities report submission: February 12, 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 Third Quarter of Fiscal Year Ended March 31,2021(April 1, 2020 to December 31, 2020)(1) Consolidated Operating Results
Net sales
millions of yen
67,87470,6853Q, 2020
3Q, 2019(Note) Comprehensive income:

%
-4.0
-6.5

(Percentages represent changes from same period in previous year.)
Operating income
Ordinary income
Net income
millions of yen% millions of yen%
millions of yen%
-508-1,249-2,789
1,327 -76.6
661 -88.6-1,231

as of December 31, 2020: -2,649 million yen (%),as of December 31, 2019: -1,478 million yen (%)Net income per share

Net income per share after full dilution

Yen-69.80-30.81

3Q, 2020
3Q, 2019

Yen(2) Consolidated Financial Position
Total assets
millions of yen
3Q, 2020
169,288
Year ended March 31, 2020
172,437(Reference) Equity capital:

Net assets
Millions of yen
73,21976,669

Capital adequacy ratio
%
43.3
44.5

as of December 31, 2020: 73,219 million yen, as of March 31, 2020: 76,669 million yen

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

September 30(Q2-end)Yen

December 31(Q3-end)Year ended March 31, 2020



Yen
0.00

Year ended March 31, 2021



0.00

March 31
(Year-end)

Yen



Year ending March 31, 2021
(Forecast)

Annual

Yen
20.00

Yen
20.00

12.00

12.00

(Note) 1. Modification in the dividend forecast for current quarter: No modification
2. Breakdown of the year-end dividend for the year endend March 31,2020 :Ordinary dividend
12.00yen
Comemorative divideds of the 100ｔｈ anniversary 8.00yen
3. Forecast for Consolidated Results for the Full Year Ending March 31, 2021 (April 1, 2020 - March 31, 2021)(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 sales

Full year

Operating income

Ordinary income

Net income

Earnings per share

millionsof yen%millionsof yen%millionsof yen%millionsof yen%Yen

100,000

-1.1

3,500

-43.4

3,300

-38.3

1,300

-44.9

32.53

(Note) Modification in the dividend forecast for current quarter: Modified* 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(2) Adoption of simplified accounting treatment and special accounting treatment for quarterly consolidated statement: No(3) Changes in accounting principles, procedures, and the method of presentation
1) Changes due to revisions of accounting standards etc.
: No
2) Changes other than those defined in 1) above: No3) Changes in accounting procedures: No4) Changes in the method of presentation: No(4) Issued shares (common shares)
1) Issued shares as of period-end (including repurchased treasury shares)
As of December 31, 2020: 40,383,943 shares
As of March 31, 2020: 40,383,943 shares
2) Number of shares of treasury stock as of period-end
As of December 31, 2020: 425,719shares
As of March 31, 2020: 423,188 shares
3) Average number of outstanding shares during period
3Q 2020: 39,959,649 shares
3Q 2019: 39,963,671 shares*Quarterly financial results are outside the scope of quarterly review.
*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-2-

5. Consolidated Financial Statements(1) Consolidated Balance Sheet(Unit: millions of yen)Account Category

As of March 31, 2020
(summary)

As of December 31, 2020

ASSETS
Current Assets
Cash and deposits

20,92522,892

Notes and accounts receivable – trade
Merchandise and finished goods

32,05932,664

23,31232,402Work in process

6,047

6,205

Raw materials and supplies
Other

15,004
4,683

19,483
4,303

Allowance for doubtful accounts-1,060-1,192

Total current assets

110,324

107,407

Machinery equipment, net
Others, net

17,634
28,636

20,111
25,721

Total property, plant and equipment

46,27145,832470

544

Investments and other assets
Investment securities

5,932

6,056

Deferred tax assets

8,427

8,726

Net defined benefit asset
Other

9
1,085

9
794

Non-current Assets
Property, plant and equipment

Intangible assets

Allowance for doubtful accounts

-84

-82

Total investments and other assets

15,371

15,504

Total non-current assets
Total Assets

62,112

61,880172,437

169,288(Unit: millions of 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-3-

Account Category

As of March 31, 2020
(summary)

As of December 31, 2020

17,433

17,716

15,86920,903

684
371

684
222

1,113

898

LIABILITIESCurrent Liabilities
Notes and accounts payable – trade
Short-term loans payable
Currents portion of bonds
Income taxes payable
Provision
Other

8,266

8,649

Total current liabilities

43,73749,074

3,036
28,053

2,589
23,580

2,052

1,905

－
12,884109
12,885

Non-current Liabilities
Bonds payable
Long-term loans payable
Provision for environment and safety improvement
Other provision
Net defined benefit liability
Liabilities application from equity method

399

716

Other

5,603

5,208

Total non-current liabilities

52,02946,994

95,767

96,06843,42043,42010,62725,298

10,627
21,710Total Liabilities
NET ASSETS
Shareholder’s equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity

-727

-729

78,61875,028-429-239-1,216-1,313-302-255

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--1,948-1,80976,66973,219172,437

169,288(2) Consolidated Statements of Income(Unit: millions of yen)
Q3 2019(April 1, 2019 to
December 31, 2019)

Account Category

Q3 2020(April 1, 2020 to
December 31, 2020

Net sales
Cost of sales

70,68551,94467,87451,491Gross profit

18,741

16,382

Selling, general and administrative expenses

17,36916,891

Operating profit(loss) (-)

1,372

-508

Non-operating income
Interest income

42

21

Dividend income

275

143

Reversal of allowance for doubtful accounts


79

355

Gain sales of raw materials
Other

155

107

Total non-operating income

552

763

Interest expenses

464

402

Financial fee
Share of loss of entities accounted for using equity method

142
111

182
435

Foreign exchange losses

312

297

Other

231

186

135

Non-operating expenses

Total non-operating expenses

1,263

1,505

661

-1,249Gain on insurance adjustment

189



Total extraordinary income

189


314

Loss on disposal of non-current assets


475

Loss on withdrawal from business

758

Loss on liquidation of subsidiaries and affiliates

334



Other

55



Ordinary profit(loss) (-)
Extraordinary income

Extraordinary loss
Impairment loss

502

Total extraordinary loss

864

1,574

Net loss before income taxes (-)-13-2,824

Income taxes-current
Income taxes – deferred

314
903

313
-348

Total income taxes

1,217

-35

Net loss (-)-1,231-2,789Net loss attributable to owners of parent (-)-1,231-2,789* 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)
Q3 2019(April 1, 2019 to
December 31, 2019)

Account Category
Net loss (-)

Q3 2020(April 1, 2020 to
December 31, 2020)-1,231-2,789-81

190

Other comprehensive income
Valuation difference on available for sale securities

-0



-264

-83

Remeasurements of defined benefit plans, net of tax

51

47

Share of other comprehensive income of entities accounted
for using equity method

47

-13

-246

139

-1,478-2,649-1,478-2,649Deferred gains or losses on hedges
Foreign currency translation adjustment

Total other comprehensive income
Comprehensive income(Breakdown)Comprehensive income attributable to owners of parent* 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-

(3) Notes to Quarterly Consolidated Financial Statements(Note to events and conditions which indicate there could be substantial doubt about going concern assumption)
We do not note significant changes.

(Note to significant changes in shareholders' equity)
We do not note significant changes.

* 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-6. Segment Information【Business Segment Information】
3Q of Fiscal Year Ended March 31, 2020 (April 1, 2019 to December 31, 2019)(1)Information relating sales, profits, losses, for each reporting unit
(Unit: millions of yen)
Inorganic
Chemicals

Organic
Chemicals

Other
Businesses

37,86530,280

2,539





Total

37,865

Segment profit

1,993

Sales
(1) Sales to externalcustomers(2) Intersegment sales
and transfers

Elimination/
Corporate

Consolidated

70,685



70,685

2,914

2,914

-2,914



30,2805,454

73,600-2,91470,685

789

330

3,114

-1,741

1,372

Total

(Note) 1. Adjustment include the following items(1) Adjustment in segment profit (-￥1,741million) includes elimination of transaction between segments(￥15million) andcorporate expenses not allocated to reporting segments(-￥1,757million). 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
33,864

Asia
13,936

America

Europe11,270Other

11,511

Total
102

70,685(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 fixed assets by segment
We do not note significant changes.

* 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-

【Business Segment Information】
3Q of Fiscal Year Ended March 31, 2021(April 1, 2020 to December31, 2020)(1)Information relating sales, profits, losses, for each reporting unit
(Unit: millions of yen)
Adjustment

Amount reported on
consolidated financial
statements

67,874



67,874

3,503

3,503

-3,503



30,6486,130

71,377-3,50367,874

1,772

294

1,399

-1,908-508

Inorganic
Chemicals

Organic
Chemicals

Other
Businesses

34,59830,6482,627(2) Intersegment sales
and transfers





Total

34,598Segment profit or loss (-)

-667

Sales
(1) Sales to externalcustomers

Total(Note) 1. Adjustment include the following items(1) Adjustment in segment profi or losst (-￥1,908 million) includes elimination of transaction between segments(￥28million) and corporate expenses not allocated to reporting segments(-￥1,936 million). Corporate expenses
mainly comprise general expenses not allocated segments.
(2) Segment profit or loss is adjusted to be consistent with operating loss shown on the quarterly consolidated income
statement.

(2)Geographical information
Net Sales(Unit: millions of yen)Japan
32,999Asia

America
12,645

Europe10,097Other

11,935

Total
196

67,874(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 non-current assets by segment(Significant impairment loss on non-current assets)
In the Inorganic Chemicals segment , we posted an impairment loss on non-current asset of 314million yen for machineries andequipment.
In the Organic Chemicals segment , we posted an impairment loss on non-current asset of 54million yen for machineries andequipment.

* 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-