November 10, 2023

Listed Company Name:

Chugai Mining Co., Ltd.

Representative:
For Inquiry:
Website:(Stock code no.: 1491, Tokyo Stock Exchange Standard Market)
Takeo NISHIMOTO, CEO and President
Isao SAKURABA, IR Center (Telephone: 03-3201-1541)
www.chugaikogyo.co.jp

Differences between Business Performance Outlook and Actual Results for the Second Quarter
and Revision to Business Performance Outlook for the Fiscal Year Ending in March 2024

The actual performance figures announced today differed from the consolidated business performance outlook for thecumulative second quarter of the fiscal year ending in March 2024 announced on May 12, 2023 as follows.
The consolidated business performance outlook for fiscal year ending in March 2024 announced on May 12, 2023 isalso amended as follows.

1.

Differences between the Consolidated Business Performance Outlook and the Actual Results for theCumulative Second Quarter of the Consolidated Fiscal Year Ending in March 2024 (April 1, 2023 – September30, 2023)

Revenue

Recurring
ProfitCurrent Net
Profit perShare

Million Yen

Million Yen

Million Yen

Million Yen

Yen

Previously Announced Outlook (A)41,8003102802700.94

Revised Outlook (B)51,087240228

2210.77

Change in Value (B－A)

9,287

△70

△52△49Rate of Change (%)

22.2

△22.6

△18.6

△18.1

42,973

371

338

134

Reference: Previous Year's Performance(Q2 of the Period Ending March 2023)

2.

Operating
ProfitCurrent Net
ProfitAttributableto Ownersof theParent

0.47

Revision to Consolidated Business Performance Outlook for the Current Consolidated Fiscal Year Ending
March 2024 (April 1, 2023 – March 31, 2024)

Revenue

Operating
ProfitRecurring
ProfitCurrent Net
ProfitAttributableto Ownersof theParent

Current Net
Profit per
ShareMillion Yen

Million Yen

Million Yen

Million Yen

Yen

Previously Announced Outlook (A)84,500

630

490

470

1.63

Revised Outlook (B)98,300580

4604501.56

Change in Value (B－A)

13,800△50△30△2016.3

△8.0

△6.1

△4.3

84,822794648398

Rate of Change (%)
Reference: Previous Year's Performance(Fiscal year ending March 2023)
Copyright ©2023 Chugai Mining Co. Ltd.

All Rights Reserved

1.38

3.

Reason for the Revisions
During the first half of the current fiscal year, gold prices, in our precious metal business remained high due toheightened geopolitical risks such as in Russia and Ukraine, and as a result, the trading volume of gold bullion
significantly exceeded our initial forecast and net sales increased from the previously announced forecast of 9,287
million yen. On the other hand, operating profit, recurring profit, and net income attributable to our corporateshareholders for the period under review were affected by a foreign exchange gain of 37 million yen on overseas
investments due to the depreciation of the yen resulting from the difference in interest rates between Japan andthe U.S. and other factors. Operating profit, recurring profit, and net income attributable to owners of the parent
decreased by 70 million yen, 52 million yen, and 49 million yen, respectively, from the previously announced
forecasts, mainly due to the recording of 62 million yen in inventory valuation losses resulting from a temporary
decline in gold prices and other factors at the end of the second quarter.
As for the consolidated business performance outlook for the full year, although there are concerns about risinginterest rates in the precious metals business due to policy revisions by the Japanese and U.S. monetary authorities,
gold prices are expected to remain high due to heightened geopolitical risks such as the situations in Russia andUkraine and in the Middle East. As a result, the Company expects revenues to increase by 13,800 million yen since
the volume of gold bullion transactions is expected to increase from the previously announced forecast.
On the other hand, operating income, ordinary income, and net income attributable to owners of the parent areexpected to fall short of the previously announced forecasts as shown above due to expected increases in energy
and resource prices and other costs resulting from the weaker yen.
The Company will announce promptly should there be a need to revise the earnings forecast.

Note: The above projection was established based on information available to the Company at the time of thisannouncement and the actual business performance may differ from these figures in the event of unforeseenelements taking effect after this announcement.

This is an English translation of the financial report created in Japanese.
Should there be any discrepancies between the Japanese original and the English translation, the Japanese original shall prevail.

Copyright ©2023 Chugai Mining Co. Ltd.

All Rights Reserved