August 9, 2022
To whom it may concern
Company name:
Representative:

Contact:

NIHON NOHYAKU CO., LTD.
Hiroyuki Iwata, Representative
Director, President(Stock Exchange Code: 4997, Prime
Market of the Tokyo Stock Exchange)
Masaki Yoshioka, General Manager ofGeneral Affairs & Legal Department(TEL: +81-3-6361-1400)

Notice of Revision to Forecast of Financial Results
NIHON NOHYAKU CO., LTD. (hereinafter referred to as the “Company”) has made the following
revisions to the forecasts of consolidated financial results for the six months ending September 30, 2022
(cumulative) and the full year ending March 31, 2023, announced on May 12, 2022.
1. Revision of forecast of consolidated financial results for the six months ending September 30,2022 (cumulative) (April 1, 2022 to September 30, 2022)(Millions of yen)
Net sales

Operating profit

Ordinary profit

Profitattributable toowners ofparent

Earnings per
share (Yen)Previous forecast
39,300
2,000
1,800
1,400
17.82
(A)
Current forecast (B)46,400
4,300
4,200
3,100
39.53
Difference (B-A)
7,100
2,300
2,400
1,700
Change (%)
18.1
115.0
133.3
121.4(Reference)
Results for theprevious first half
31,480
1,444
1,568
1,548
19.69
(Six months ended
September 30,2021)
Due to the retrospective application of the changes in accounting policies, the figures presented above in “(Reference)
Results for the previous first half (Six months ended September 30, 2021)” are those that have been restatedretrospectively.

12. Revision of forecast of consolidated financial results for the full year ending March 31, 2023
(April 1, 2022 to March 31, 2023)(Millions of yen)
Net sales

Operating profit

Ordinary profit

Profitattributable toowners ofparent

Earnings per
share (Yen)Previous forecast
91,300
6,900
6,200
4,500
57.29
(A)
Current forecast (B)98,000
8,800
7,800
5,400
68.86
Difference (B-A)
6,700
1,900
1,600
900
Change (%)
7.3
27.5
25.8
20.0
(Reference)
Results for the80,111
5,762
5,665
4,405
56.08
previous full year(Year ended March31, 2022)
Due to the retrospective application of the changes in accounting policies, the figures presented above in “(Reference)
Results for the previous full year (Year ended March 31, 2022)” are those that have been restated retrospectively.

3. Reasons for revision(1) Six months ending September 30, 2022 (cumulative)
Regarding domestic agrochemical sales, we expect sales to fall below the plan we prepared at
the beginning of the period due to the impact of distribution inventories. Regarding overseas
agrochemical sales, however, the movement of goods has been accelerated primarily due to thelogistics crunch and concerns about future price increases. In addition, sales are expected toincrease primarily in Brazil, where demand for agrochemicals has been trending higher.
Furthermore, the Japanese yen has been weaker than we expected at the beginning of the period.
As a result of these and other factors, we expect net sales to exceed our initial forecast.
In terms of profit, we expect operating profit, ordinary profit, and profit attributable to owners ofparent to exceed the initial forecast due to the increase in net sales shown above.
(2) Full year ending March 31, 2023
As for the forecast for the full year, regarding overseas agrochemical sales, we expect the sales
in Brazil to continue to grow from the third quarter onward. We have also weighed several factors,including the impact of recent trends in exchange rates. As a result, we expect net sales to exceed
our initial forecast.
In terms of profit, we expect operating profit, ordinary profit, and profit attributable to owners ofparent to exceed the initial forecast due to the increase in net sales shown above.
(Note) The above forecasts are based on information currently available, and actual results may differ from them
due to various factors that may arise in the future.

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