To whom it may concern
November 6, 2017
Company name: Nissan Chemical Industries, Ltd.
Representative: Kojiro Kinoshita, President(Code number: 4021, The first section of TSE)

Revision of Financial Results Forecast, Interim Dividend Payment and Dividend Forecast
Nissan Chemical Industries Ltd. (“the Company”) announces the revision of its forecast for the fiscal year
ending March 31, 2018.
At the same time, the Company announces that the Board of Directors’ Meeting held on November 6,2017 resolve to revise the interim dividend payment and dividend forecast for the fiscal year ending
March 31, 2018.
1. Revision of Financial Results Forecast(1) Revision of financial results forecast for the year ending March 31, 2018
(Millions of Yen)
NetSalesOperating
IncomeOrdinary
IncomeNet Income
Attributable toOwners ofParent

Basic Earnings
per share (Yen)Previous Forecast (A)(announced onAugust 4, 2017)

189,000

32,50033,30025,200167.33

Revised Forecast (B)192,000

34,50036,10027,000179.23

Change (B-A)

3,000

2,000

2,800

1,800

―

Rate of Change (%)

1.6%

6.2%

8.4%

7.1%

―

180,289

31,43831,71324,026156.97(Ref.) Results for theYear Ended March 31,2017

(2) Business segment information of revised forecast
PreviousForecast
Net Sales

Chemicals

35.5

35.1

(0.4)

57.6

58.5

0.9

56.3

58.2

1.9

Pharmaceuticals

6.9

7.3

0.4

Trading

61.5

60.3

(1.2)

Others

21.7

21.4

(0.3)

Adjustment(50.5)(48.8)

1.7

Total

189.0

192.0

3.0

3.6

3.7

0.1

12.3

13.9

1.6

15.6

15.6

－

Pharmaceuticals

0.9

1.0

0.1

Trading2.0

2.0－

Others

0.5

0.7

0.2

Adjustment

(2.4)

(2.4)

－

Total

32.5

34.5

2.0

Performance
Materials
AgriculturalChemicals

Operating
Income(Billions of yen)
RevisedChangeForecast

Chemicals
Performance
Materials
Agricultural
Chemicals(3) Reasons for revision
In the first half, sales of display materials and active ingredients of veterinary pharmaceuticals wereabove the previous forecast. In the second half, sales of our group business products will be expected toenjoy solid growth. As a result, the Company revised its forecast for the year ending March 31, 2018 asabove.

2. Revision of Interim Dividend Payment and Dividend Forecast for the Year Ending March 31, 2018
(1) Details of Interim Dividend PaymentPrevious forecast
Dividend for the year
Results for the year ended(announced onended September
September 30, 2016
August 4, 2017)30, 2017
Date of record
September 30, 2017
September 30, 2017
September 30, 2016
Dividend per share
32.00 yen
28.00 yen
24.00 yen
Total dividends
4,814 million yen
3,667 million yen
Effective date
December 4, 2017
December 5, 2016
Source of dividends
Retained earnings
Retained earnings

(2) Details of revisionInterim
Previous forecast(announced on August 4, 2017)

Dividends per share (yen)Year-end
Annual28.00Revised forecast
Results

32.00

Results for the year
ended March 31, 2017

24.00

32.00

60.00

34.00

66.00

28.00

52.0

(3) Reasons for revision
The Company’s basic policy of profit allocation is returning to shareholders by improving its value
through increasing revenue in the medium and long terms.
We aim to realize dividend payout ratio to be 40% for the year ended March 31, 2019 and maintain total
payout ratio to be 70% in medium-term business plan “Vista2021” launched from April 2016.
According to this policy and the above revised forecast, the Company increases interim payment to32.00 yen from 28.00 yen (increase of 4.00 yen), and year-end dividend forecast for the year ending
March 31, 2018 to 34.00 yen from 32.00 yen (increase of 2.00 yen). As a result, the annual dividend will
be 66.00 yen (dividend payout ratio will be 36.8%).
Note: The above forecasts are based on information available at the time of the preparation of thisdocument. Actual results may differ from these forecasts due to various factors which may be beyond
company control.