(Note) This document has been translated from the Japanese original for reference purposes only. In the event ofany discrepancy between this translated document and the Japanese original, the original shall prevail.

February 22, 2024
Company Name: Tokuyama Corporation
Representative Name: Hiroshi Yokota,
Representative Director, President and Executive Officer(Code No. 4043, Prime Market, TSE)
Contact: Tetsuya Nakano, General Manager
Corporate Communications & Investor Relations Dept.
TEL: +81-3-5207-2552

Notice Concerning a Company Split (Simplified Absorption-type Split) with a SubsidiaryTokuyama Corporation (hereinafter referred to as “Tokuyama” or “the Company”) hereby announces its
Board of Directors had resolved to transfer part of the rights and obligations of the sales business(hereinafter referred to as “the Business”) for the Company’s chlor-alkali products (liquid caustic soda, solid
caustic soda, sodium hypochlorite, liquid chlorine, hydrochloric acid, methyl chloride, methylene chloride,chloroform, carbon tetrachloride, and propylene oxide ) and soda calcium chloride products (cullet, sodium
bicarbonate (excluding pharmacopoeia sodium bicarbonate ), and crystalline layered sodium silicate) toTokuyama Soda Trading Co., Ltd., (hereinafter referred to as “TST”) through a company split (hereinafterreferred to as “the Company Split”) at a meeting held on February 22, 2024. Brief details are presented asfollows.
The Company Split will take the form of a simplified absorption-type split with a fully-owned consolidated
subsidiary. Accordingly, certain disclosure items and details have been omitted.
1. Purpose of the Company Split
Tokuyama will open a Chemical Products Sales Management Office on April 1, 2024, which will oversee theChemical Products Sales Department and PVC Sales Department in an effort to integrate operations.
Coinciding with this move, Tokuyama will completely overhaul its sales organization for chemical products,and further enhance the sales functions and product lineups of TST. In order to achieve this, the Company
will transfer a part of sales functions for chlor-alkali products and others, in addition to the soda ash andcalcium chloride, offered by the Chemical Products Sales Departments.
As a result of this sales organization revision, Tokuyama seeks to further reinforce its integrated operations
for the soda calcium chloride, chlor-alkali, and PVC businesses, and to centralize the chemical products
businesses of the Tokuyama Group. At the same time, the Company will expand sales activities with the aimof further enhancing customer service.

12. Outline of the Company Split(1) Schedule of the Company Split
Resolutions at the Board of Director’s meetings

February 22, 2024

Conclusion of the contract for absorption-type company split

February 22, 2024 (planned)

Effective date

April 1, 2024 (planned)

Note: The Company Split qualifies as a simplified absorption-type split and summary absorption-type split
pursuant to Article 784, Paragraph 2 and Article 794, Paragraph 1 of the Companies Act, wherefore theabsorption-type split agreement does not require approval by the General Meeting of Shareholders.
(2) Method of the Company Split
In the Company Split, Tokuyama will be the split company and TST will be the succeeding company.
(3) Allotment of shares accompanying the Company Split
In the Company Split, no shares or other consideration will be allocated.
(4) Treatment of stock acquisition rights and bonds with stock acquisition rights
Not applicable.
(5) Increase/decrease in capital accompanying the Company Split
There will be no change in the capital of Tokuyama accompanying the Company Split.
(6) Rights and obligations to be succeeded by the succeeding company
Succession the part of the rights and obligations of the sales business for chlor-alkali products and soda
calcium chloride products.
(7) Expected fulfillment of obligations
Tokuyama has judged that there will be no problem in the fulfillment of obligations by Tokuyama and TST.
3. Outlines of the split company and the succeeding company(1) Outlines of the split company(i) Company Name
Tokuyama Corporation(ii) Location
1-1 Mikage-cho, Shunan City, Yamaguchi(iii)Name and Title ofHiroshi Yokota, Representative Director, President and Executive Officer
Representative(iv) Description of
Production and sales of inorganic and organic industrial chemicals,Businesscement ,building materials, electrical materials, life science, eco business(v) Capital
10,000 million yen(vi) Establishment
February 1918(vii) Number of
72,072,056 shares
Outstanding Shares(as of March 31, 2023)(viii) Fiscal Year End
March 312(ix) Major Shareholders
and Ratios ofShareholding(as of March 31, 2023)

The Master Trust Bank of Japan, Ltd. (trust account)
16.94%
Custody Bank of Japan, Ltd. (trust account)
7.14%
Nippon Life Insurance Company
3.01%
The Yamaguchi Bank, Ltd.
2.28%
GOLDMAN SACHS INTERNATIONAL
2.14%(x) Financial Position and Results in Preceding Fiscal Year (Unit: Millions of yen, except per shareamounts)
Fiscal year ended
Fiscal year ended
Fiscal year ended
March 31, 2021
March 31, 2022
March 31, 2023
(Consolidated)(Consolidated)(Consolidated)
Total Assets
386,794433,210478,342
Net Assets
205,261
232,917
241,602
Net Assets per share
2,758.37
3,120.25
3,189.01
Sales
302,407
293,830
351,790
Operating Income
30,921
24,53914,336
Ordinary Income
30,79625,855
14,783
Profit24,53428,0009,364
Earnings per share351.11389.09130.15(2) Outlines of the succeeding company(i) Company Name
Tokuyama Soda Trading Co., Ltd.,(ii) Location
Ichigo Nihonbashi East Building., 7-8 Nihonbashibakurocho 2-chome,
Chuo-ku,(iii)Name and Title of
Hisanori Tanaka, Representative Director, President
Representative(iv) Description ofSales of soda ash, calcium chloride, solid caustic soda, isopropyl alcohol andBusinessother chemicals(v) Capital
10 million yen(vi) Establishment
March 2014(vii) Number of200 shares
Outstanding Shares(as of March 31, 2023)(viii) Fiscal Year End
March 31(ix) Major Shareholders
Tokuyama Corporation 100%and Ratios ofShareholding(x) Financial Position and Results in Preceding Fiscal Year (Unit: Millions of yen, except per shareamounts)
Fiscal year ended March 31, 2023 (Consolidated)
Total Assets
9,551
Net Assets
692
Net Assets per share3,463,904
Sales773
Operating Income486
Ordinary Income477
Profit307
Earnings per share
1,538,441

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4. Outline of the business of Tokuyama to be split(1) The business of Tokuyama to be split
Succession the part of the rights and obligations of the sales business for chlor-alkali products and soda
calcium chloride products.
(2) Performance of the business of Tokuyama to be split (Net sales for the year ending in March 2023)
Net sales: ¥1,460 million
5. Outline of the situation after the Company Split
The names, addresses, representative titles and names, business profiles, capital amounts, and fiscal years ofTokuyama and TST will not be affected by the Company Split.
6. Impact on Business Performance
Since the succeeding company is a wholly-owned consolidated subsidiary of the Company, the impact of theCompany Split on the Company's consolidated financial results will be minimal. However, if there are anymatters that should be announced in the future, we will promptly announce them.

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