FYE March 2016

Second Quarter
Financial Briefing
SupplementalppData
NAGASE & CO., LTD.
November 30, 2015

ContentsP/L Trends
P.2
Profitability Trends
P.3
Net Sales by Segment
P.4
Operating Profit by Segment
P.5
Operating Profit Ratios by Segment
P.6
Net Sales by Region (Destination)
P.7
B/S Trends
P.8
Turnover Period Trends
P.9
C/F Trends
P.10
Operating C/F Trends Excluding Changes in Working Capital P.11((Reference 1)) Numerical Data/Indicators ((FY2006- FY2015))
P.12

㹎㹊7UHQGV
1,000

9,000

900

8,000800

7,000700
6,0006005,000
500
4,000
400
3,000
300
2 000
2,000

200

1,000

100
00
FY05

FY06

FY07

FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15
forecast

Grossprofit

Selling,generalandadministrativeexpenses

Operatingprofit

OrdinaryincomeNetincome

Mfg.operatingprofit

Netsales㹎㹊7UHQGV㻔㻔㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㻌㼥㼑㼚㻕㼥 㻕㻲㼅㻜㻡㻲㼅㻜㻢㻲㼅㻜㻣㻲㼅㻜㻤㻲㼅㻜㻥㻲㼅㻝㻜㻲㼅㻝㻝

㻲㼅㻝㻞

㻲㼅㻝㻟

㻲㼅㻝㻠㻌

㻲㼅㻝㻡㻌
㼒㼛㼞㼑㼏㼍㼟㼠

㻺㼑㼠㻌㼟㼍㼘㼑㼟㻢㻠㻤㻘㻜㻞㻟 㻣㻜㻝㻘㻟㻞㻝 㻣㻢㻠㻘㻣㻡㻡 㻣㻝㻡㻘㻞㻟㻤 㻢㻜㻟㻘㻥㻠㻥 㻢㻢㻜㻘㻞㻝㻟 㻢㻟㻝㻘㻤㻡㻠 㻢㻢㻢㻘㻞㻣㻞 㻣㻞㻟㻘㻞㻝㻞 㻣㻡㻥㻘㻣㻝㻟 㻤㻞㻟㻘㻜㻜㻜㻳㼞㼛㼟㼟㻌㼜㼞㼛㼒㼕㼠㻌㻢㻣㻘㻢㻠㻜㻣㻟㻘㻢㻟㻥㻤㻜㻘㻡㻜㻢㻣㻝㻘㻡㻞㻣㻢㻡㻘㻠㻝㻡㻣㻟㻘㻜㻜㻤㻣㻝㻘㻢㻞㻤㻤㻞㻘㻡㻤㻟㻤㻤㻘㻥㻟㻢㻥㻝㻘㻥㻥㻝㻥㻣㻘㻟㻜㻜㻿㼑㼘㼘㼕㼚㼓㻘㻌㼓㼑㼚㼑㼞㼍㼘㻌㼍㼚㼐㻌㼜㼍㼐㼙㼕㼚㼕㼟㼠㼞㼍㼠㼕㼢㼑㻌㼑㼤㼜㼑㼚㼟㼑㼟㻌㻡㻜㻘㻜㻠㻟㻡㻝㻘㻥㻣㻜㻡㻣㻘㻠㻠㻟㻡㻥㻘㻜㻜㻠㻡㻞㻘㻞㻤㻢㻡㻠㻘㻞㻣㻢㻡㻤㻘㻞㻜㻜㻢㻣㻘㻜㻜㻠㻣㻟㻘㻝㻠㻢㻣㻟㻘㻤㻟㻤㻣㻣㻘㻤㻜㻜㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㼜㼞㼛㼒㼕㼠㻌㻝㻣㻘㻡㻥㻢㻞㻝㻘㻢㻢㻥㻞㻟㻘㻜㻢㻟㻝㻞㻘㻡㻞㻞㻝㻟㻘㻝㻞㻤㻝㻤㻘㻣㻟㻞㻝㻟㻘㻠㻞㻣㻝㻡㻘㻡㻣㻤㻝㻡㻘㻣㻤㻥㻝㻤㻘㻝㻡㻟㻝㻥㻘㻡㻜㻜㻻㼞㼐㼕㼚㼍㼞㼥㻌㼕㼚㼏㼛㼙㼑㻌㻝㻤㻘㻣㻥㻤㻞㻟㻘㻞㻟㻝㻞㻠㻘㻤㻞㻟㻝㻟㻘㻜㻡㻞㻝㻠㻘㻣㻝㻞㻞㻜㻘㻢㻞㻡㻝㻡㻘㻢㻥㻜㻝㻣㻘㻥㻞㻣㻝㻣㻘㻥㻜㻡㻞㻜㻘㻟㻢㻢㻞㻜㻘㻢㻜㻜㻺㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㻝㻞㻘㻤㻥㻞㻝㻟㻘㻡㻢㻣㻝㻜㻘㻜㻜㻡㻡㻘㻤㻜㻤㻣㻘㻡㻟㻣㻝㻞㻘㻤㻞㻟㻤㻘㻡㻣㻜㻝㻠㻘㻝㻤㻞㻝㻝㻘㻢㻢㻟㻝㻝㻘㻟㻝㻤㻝㻞㻘㻝㻜㻜㻹㼒㼓㻚㻌㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼜㼞㼛㼒㼕㼠㻌㻟㻘㻡㻥㻥㻠㻘㻤㻟㻡㻡㻘㻢㻝㻢㻝㻘㻥㻠㻜㻠㻘㻢㻡㻝㻡㻘㻠㻟㻠㻠㻘㻞㻜㻥㻡㻘㻤㻜㻟㻟㻘㻣㻝㻢㻡㻘㻜㻠㻣㻡㻘㻟㻢㻟㻹㼒㼓㻚㻌㼞㼍㼠㼕㼛㻹㼒㼓㼞㼍㼠㼕㼛㻔㼛㼜㼑㼞㼍㼠㼕㼚㼓㻌㼜㼞㼛㼒㼕㼠㻕㻞㻜㻚㻡㻑㻞㻞㻚㻟㻑㻞㻠㻚㻠㻑㻝㻡㻚㻡㻑㻟㻡㻚㻠㻑㻞㻥㻚㻜㻑㻟㻝㻚㻟㻑㻟㻣㻚㻟㻑㻞㻟㻚㻡㻑㻞㻣㻚㻤㻑㻞㻣㻚㻡㻑



3URILWDELOLW\7UHQGV
14%12%10%8%6%4%2%0%
FY05

FY06

FY07

FY08

Grossprofitratio

FY09

FY10

Operatingprofitratio

FY11

FY12

FY13

Ordinaryincomeratio

FY14

FY15 forecast
FY15forecast

Netincomeratio

3URILWDELOLW\7UHQGV)<)<)<)<)<)<)<)<)<)<)<
IRUHFDVW㻳㼞㼛㼟㼟㻌㼜㼞㼛㼒㼕㼠㻌㼞㼍㼠㼕㼛㻌㻝㻜㻚㻠㻑㻝㻜㻚㻡㻑㻝㻜㻚㻡㻑㻝㻜㻚㻜㻑㻝㻜㻚㻤㻑㻝㻝㻚㻝㻑㻝㻝㻚㻟㻑㻝㻞㻚㻠㻑㻝㻞㻚㻟㻑㻝㻞㻚㻝㻑㻝㻝㻚㻤㻑㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㼜㼞㼛㼒㼕㼠㻌㼞㼍㼠㼕㼛㻌㻞㻚㻣㻑㻟㻚㻝㻑㻟㻚㻜㻑㻝㻚㻤㻑㻞㻚㻞㻑㻞㻚㻤㻑㻞㻚㻝㻑㻞㻚㻟㻑㻞㻚㻞㻑㻞㻚㻠㻑㻞㻚㻠㻑㻻㼞㼐㼕㼚㼍㼞㼥㻌㼕㼚㼏㼛㼙㼑㻌㼞㼍㼠㼕㼛㻌㻞㻚㻥㻑㻟㻚㻟㻑㻟㻚㻞㻑㻝㻚㻤㻑㻞㻚㻠㻑㻟㻚㻝㻑㻞㻚㻡㻑㻞㻚㻣㻑㻞㻚㻡㻑㻞㻚㻣㻑㻞㻚㻡㻑㻺㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼞㼍㼠㼕㼛㻞㻚㻜㻑㻝㻚㻥㻑㻝㻚㻟㻑㻜㻚㻤㻑㻝㻚㻞㻑㻝㻚㻥㻑㻝㻚㻠㻑㻞㻚㻝㻑㻝㻚㻢㻑㻝㻚㻡㻑㻝㻚㻡㻑

1HW6DOHVE\6HJPHQW
NetSalesl

NetSalesShare

3,00045%40%

2,50035%
2,00030%25%

1,50020%
1,00015%
10%

500
5%0%

0

FunctionalMaterials䠄formerlyChemicals䠅Electronics

AdvancedMaterials&Processing䠄formerlyPlastics䠅
Automotive&EnergyLife&Healthcare䠄formerlyLifeScience䠅

FunctionalMaterials䠄formerlyChemicals䠅

AdvancedMaterials&Processing䠄formerlyPlastics䠅

Electronics

Automotive&EnergyLife&Healthcare䠄formerlyLifeScience䠅

1HW6DOHVE\6HJPHQW
㻔㻹㼕㼘㼘㼕㼛㼚㼟 㼛㼒 㼥㼑㼚㻕㻔㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕)<)<)<)<)<)<)<)<)<)<)<
IRUHFDVW1HWW6DOHV㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘 㻹㼍㼠㼑㼞㼕㼍㼘㼟㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻯㼔㼑㼙㼕㼏㼍㼘㼟㸧㻞㻞㻞㻘㻞㻤㻞 㻞㻠㻣㻘㻜㻥㻠 㻞㻢㻣㻘㻤㻟㻢 㻞㻠㻤㻘㻠㻢㻝 㻞㻟㻣㻘㻝㻞㻠 㻞㻡㻟㻘㻞㻥㻜 㻝㻣㻣㻘㻝㻞㻢 㻝㻢㻣㻘㻜㻝㻣 㻝㻢㻥㻘㻥㻣㻟 㻝㻢㻤㻘㻞㻟㻥 㻝㻣㻣㻘㻢㻜㻜㻭㼐㼢㼍㼚㼏㼑㼐㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㻒㻌㻼㼞㼛㼏㼑㼟㼟㼕㼚㼓㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻼㼘㼍㼟㼠㼕㼏㼟㸧㻞㻞㻥㻘㻞㻣㻤 㻞㻠㻠㻘㻢㻤㻝 㻞㻣㻠㻘㻢㻢㻜 㻞㻡㻟㻘㻜㻞㻥 㻝㻥㻞㻘㻡㻢㻥 㻞㻞㻞㻘㻝㻜㻜 㻞㻝㻣㻘㻥㻞㻥 㻞㻝㻠㻘㻞㻝㻠 㻞㻟㻥㻘㻞㻞㻠 㻞㻡㻠㻘㻝㻢㻡 㻞㻤㻞㻘㻠㻜㻜㻱㼘㼑㼏㼠㼞㼛㼚㼕㼏㼟㻝㻟㻞㻘㻜㻤㻢 㻝㻡㻜㻘㻣㻥㻢 㻝㻢㻟㻘㻤㻟㻟 㻝㻡㻟㻘㻞㻡㻡 㻝㻝㻣㻘㻡㻥㻝 㻝㻟㻟㻘㻢㻠㻜 㻝㻝㻜㻘㻠㻥㻡 㻝㻞㻡㻘㻜㻝㻠 㻝㻟㻣㻘㻜㻞㻢 㻝㻠㻥㻘㻥㻠㻣 㻝㻢㻞㻘㻠㻜㻜㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㻒㻌㻱㼚㼑㼞㼓㼥㻌㻙㻸㼕㼒㼑㻌㻒㻌㻴㼑㼍㼘㼠㼔㼏㼍㼞㼑㻌㸦㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻸㼕㼒㼑㻌㻿㼏㼕㼑㼚㼏㼑㸧㸧㻻㼠㼔㼑㼞㼀㼛㼠㼍㼘㻙㻙㻙㻙㻙㻣㻢㻘㻝㻝㻟㻤㻟㻘㻜㻢㻤㻥㻥㻘㻠㻠㻝 㻝㻜㻥㻘㻤㻡㻝 㻝㻝㻣㻘㻠㻜㻜㻡㻢 㻠㻜㻠 㻡㻟㻘㻡㻡㻢㻡㻢㻘㻠㻜㻠㻡㻟 㻡㻡㻢㻡㻢 㻠㻤㻥㻡㻢㻘㻠㻤㻥㻡㻤 㻥㻜㻡㻡㻤㻘㻥㻜㻡㻡㻡 㻡㻠㻞㻡㻡㻘㻡㻠㻞㻡㻜 㻞㻠㻣㻡㻜㻘㻞㻠㻣㻠㻥 㻝㻣㻜㻠㻥㻘㻝㻣㻜㻣㻢 㻝㻝㻢㻣㻢㻘㻝㻝㻢㻣㻢 㻤㻝㻜㻣㻢㻘㻤㻝㻜㻣㻢 㻢㻝㻜㻣㻢㻘㻢㻝㻜㻤㻞 㻟㻜㻜㻤㻞㻘㻟㻜㻜㻣㻘㻥㻣㻞㻝㻘㻥㻟㻠㻝㻘㻡㻤㻡㻝㻘㻝㻞㻝㻥㻟㻠㻝㻘㻜㻝㻤㻤㻠㻝㻣㻟㻣㻥㻜㻜㻌㻥㻜㻜㻡㻘㻝㻥㻝㻢㻠㻤㻘㻜㻞㻟 㻣㻜㻝㻘㻟㻞㻝 㻣㻢㻠㻘㻣㻡㻡 㻣㻝㻡㻘㻞㻟㻤 㻢㻜㻟㻘㻥㻠㻥 㻢㻢㻜㻘㻞㻝㻟 㻢㻟㻝㻘㻤㻡㻠 㻢㻢㻢㻘㻞㻣㻞 㻣㻞㻟㻘㻞㻝㻞 㻣㻡㻥㻘㻣㻝㻠 㻤㻞㻟㻘㻜㻜㻜

1HW6DDOHV6KDUH

㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻯㼔㼑㼙㼕㼏㼍㼘㼟㸧㻟㻠 㻟㻑㻟㻠㻚㻟㻑㻟㻡 㻞㻑㻟㻡㻚㻞㻑㻟㻡 㻜㻑㻟㻡㻚㻜㻑㻟㻠 㻣㻑㻟㻠㻚㻣㻑㻟㻥 㻟㻑㻟㻥㻚㻟㻑㻟㻤 㻠㻑㻟㻤㻚㻠㻑㻞㻤 㻜㻑㻞㻤㻚㻜㻑㻞㻡 㻝㻑㻞㻡㻚㻝㻑㻞㻟 㻡㻑㻞㻟㻚㻡㻑㻞㻞 㻝㻑㻞㻞㻚㻝㻑㻞㻝 㻢㻑㻞㻝㻚㻢㻑㻭㼐㼢㼍㼚㼏㼑㼐㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㻒㻌㻼㼞㼛㼏㼑㼟㼟㼕㼚㼓㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻼㼘㼍㼟㼠㼕㼏㼟㸧㻟㻡㻚㻠㻑㻟㻠㻚㻥㻑㻟㻡㻚㻥㻑㻟㻡㻚㻠㻑㻟㻝㻚㻥㻑㻟㻟㻚㻢㻑㻟㻠㻚㻡㻑㻟㻞㻚㻞㻑㻟㻟㻚㻝㻑㻟㻟㻚㻡㻑㻟㻠㻚㻟㻑㻱㼘㼑㼏㼠㼞㼛㼚㼕㼏㼟㻞㻜㻚㻠㻑㻞㻝㻚㻡㻑㻞㻝㻚㻠㻑㻞㻝㻚㻠㻑㻝㻥㻚㻡㻑㻞㻜㻚㻞㻑㻝㻣㻚㻡㻑㻝㻤㻚㻤㻑㻝㻤㻚㻥㻑㻝㻥㻚㻣㻑㻝㻥㻚㻣㻑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㻒㻌㻱㼚㼑㼞㼓㼥㻌㻙㻙㻙㻙㻙㻙㻝㻞㻚㻜㻑㻝㻞㻚㻡㻑㻝㻟㻚㻣㻑㻝㻠㻚㻡㻑㻝㻠㻚㻟㻑㻸㼕㼒㼑㻌㻒㻌㻴㼑㼍㼘㼠㼔㼏㼍㼞㼑㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥 㻸㼕㼒㼑 㻿㼏㼕㼑㼚㼏㼑㸧㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻸㼕㼒㼑㻌㻿㼏㼕㼑㼚㼏㼑㸧㻤㻚㻣㻑㻣㻚㻢㻑㻣㻚㻠㻑㻤㻚㻞㻑㻥㻚㻞㻑㻣㻚㻢㻑㻣㻚㻤㻑㻝㻝㻚㻠㻑㻝㻜㻚㻢㻑㻝㻜㻚㻝㻑㻝㻜㻚㻜㻑㻻㼠㼔㼑㼞㻝㻚㻞㻑㻜㻚㻣㻑㻜㻚㻟㻑㻜㻚㻞㻑㻜㻚㻞㻑㻜㻚㻝㻑㻜㻚㻞㻑㻜㻚㻝㻑㻜㻚㻝㻑㻜㻚㻝㻑㻜㻚㻝㻑㼀㼛㼠㼍㼘㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑

2SHUDWLQJ3URILWE\6HJPHQW
Operating ProfitbySegment

OperatingProfitRatiobySegment

10060%

9050%

80
7040%
60
50

30%

4020%

30
20

10%
1000%

FunctionalMaterials䠄formerlyChemicals䠅Electronics

FunctionalMaterials䠄formerlyChemicals䠅Electronics

AdvancedMaterials&Processing䠄formerlyPlastics䠅
Automotive & EnergyAutomotive&Energy

AdvancedMaterials&Processing䠄formerlyPlastics䠅
Automotive & Energy
Automotive&EnergyLife&Healthcare䠄formerlyLifeScience䠅Life&Healthcare䠄formerlyLifeScience䠅

2SHUDWLQJ3URILWE\6HJPHQW
㻔㻹㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕

2SHUDWLQJ3URILWE\66HJPHQW)<)<)<)<)<)<)<)<)<)<)<
IRUHFDVW㻡 㻢㻡㻤㻡㻘㻢㻡㻤㻣 㻜㻝㻡㻣㻘㻜㻝㻡㻣 㻥㻟㻤㻣㻘㻥㻟㻤㻡 㻟㻠㻢㻡㻘㻟㻠㻢㻢 㻣㻤㻣㻢㻘㻣㻤㻣㻥 㻜㻥㻟㻥㻘㻜㻥㻟㻢 㻞㻤㻡㻢㻘㻞㻤㻡㻠 㻟㻢㻤㻠㻘㻟㻢㻤㻠 㻟㻞㻤㻠㻘㻟㻞㻤㻠 㻟㻜㻞㻠㻘㻟㻜㻞㻠 㻠㻜㻜㻠㻘㻠㻜㻜㻢㻘㻢㻣㻣㻢㻘㻡㻟㻡㻢㻘㻝㻟㻤㻞㻘㻠㻠㻟㻞㻘㻞㻣㻣㻠㻘㻣㻢㻣㻞㻘㻥㻣㻥㻟㻘㻝㻣㻝㻟㻘㻣㻜㻣㻠㻘㻤㻜㻠㻡㻘㻠㻜㻜㻠 㻠㻢㻜㻠㻘㻠㻢㻜㻢 㻝㻢㻝㻢㻘㻝㻢㻝㻣 㻜㻟㻝㻣㻘㻜㻟㻝㻟 㻜㻠㻢㻟㻘㻜㻠㻢㻞 㻣㻣㻤㻞㻘㻣㻣㻤㻡 㻤㻞㻣㻡㻘㻤㻞㻣㻢 㻜㻝㻥㻢㻘㻜㻝㻥㻢 㻠㻞㻝㻢㻘㻠㻞㻝㻢 㻠㻞㻝㻢㻘㻠㻞㻝㻡 㻡㻤㻟㻡㻘㻡㻤㻟㻢 㻣㻜㻜㻢㻘㻣㻜㻜㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㻒㻌㻱㼚㼑㼞㼓㼥㻌㻙㻙㻙㻙㻙㻙㻥㻟㻢㻣㻢㻟㻝㻘㻜㻞㻤㻞㻘㻞㻞㻥㻞㻘㻜㻜㻜㻸㼕㼒㼑㻌㻒㻌㻴㼑㼍㼘㼠㼔㼏㼍㼞㼑㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻸㼕㼒㼑㻌㻿㼏㼕㼑㼚㼏㼑㸧㻝㻘㻞㻢㻟㻞㻘㻜㻜㻞㻝㻘㻢㻢㻥㻝㻘㻝㻢㻥㻥㻠㻞㻥㻡㻢㻣㻜㻢㻠㻘㻜㻥㻟㻠㻘㻜㻜㻜㻟㻘㻝㻡㻣㻟㻘㻠㻜㻜㻙㻣㻢㻞㻙㻟㻡㻤㻙㻠㻝㻝㻢㻞㻡㻝㻟㻝㻠㻝㻞㻢㻡㻞㻝㻡㻞㻜㻝㻌㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻯㼔㼑㼙㼕㼏㼍㼘㼟㸧㻭㼐㼢㼍㼚㼏㼑㼐㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㻒㻌㻼㼞㼛㼏㼑㼟㼟㼕㼚㼓㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻼㼘㼍㼟㼠㼕㼏㼟㸧㻱㼘㼑㼏㼠㼞㼛㼚㼕㼏㼟

㻻㼠㼔㼑㼞

㻙

2SHUDWLQQJ3URILW6KDUH
E\\6HJPHQW㻿㼡㼎㻌㼠㼛㼠㼍㼘㻯㼛㼞㼜㼛㼞㼍㼠㼑㻛㻱㼘㼕㼙㼕㼚㼍㼠㼕㼛㼚㼟㼀㼛㼠㼍㼘㻝㻣㻘㻞㻥㻣 㻞㻝㻘㻟㻡㻢 㻞㻞㻘㻣㻟㻢 㻝㻞㻘㻝㻢㻤 㻝㻞㻘㻣㻥㻝 㻞㻜㻘㻢㻡㻥 㻝㻣㻘㻜㻢㻤 㻝㻥㻘㻜㻤㻟 㻝㻥㻘㻣㻜㻝 㻞㻜㻘㻞㻣㻤 㻞㻝㻘㻥㻜㻜㻞㻥㻥㻟㻝㻞㻟㻞㻢㻟㻡㻟㻟㻟㻢 㻙㻝㻘㻥㻞㻣 㻙㻟㻘㻢㻠㻝 㻙㻟㻘㻡㻜㻡 㻙㻟㻘㻥㻝㻞 㻙㻞㻘㻝㻞㻡 㻙㻞㻘㻠㻜㻜㻝㻣㻘㻡㻥㻢 㻞㻝㻘㻢㻢㻥 㻞㻟㻘㻜㻢㻟 㻝㻞㻘㻡㻞㻞 㻝㻟㻘㻝㻞㻤 㻝㻤㻘㻣㻟㻞 㻝㻟㻘㻠㻞㻣 㻝㻡㻘㻡㻣㻤 㻝㻡㻘㻣㻤㻥 㻝㻤㻘㻝㻡㻟 㻝㻥㻘㻡㻜㻜㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻯㼔㼑㼙㼕㼏㼍㼘㼟㸧㻟㻞㻚㻣㻑㻟㻞㻚㻤㻑㻟㻠㻚㻥㻑㻠㻟㻚㻥㻑㻡㻟㻚㻝㻑㻠㻠㻚㻜㻑㻟㻢㻚㻤㻑㻞㻞㻚㻥㻑㻞㻞㻚㻜㻑㻞㻝㻚㻞㻑㻞㻜㻚㻝㻑㻟㻤㻚㻢㻑㻟㻜㻚㻢㻑㻞㻣㻚㻜㻑㻞㻜㻚㻝㻑㻝㻣㻚㻤㻑㻞㻟㻚㻝㻑㻝㻣㻚㻡㻑㻝㻢㻚㻢㻑㻝㻤㻚㻤㻑㻞㻟㻚㻣㻑㻞㻠㻚㻣㻑㻭㼐㼢㼍㼚㼏㼑㼐㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㻒㻌㻼㼞㼛㼏㼑㼟㼟㼕㼚㼓㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥 㻼㼘㼍㼟㼠㼕㼏㼟㸧㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻼㼘㼍㼟㼠㼕㼏㼟㸧㻱㼘㼑㼏㼠㼞㼛㼚㼕㼏㼟㻞㻡㻚㻤㻑㻞㻤㻚㻤㻑㻟㻜㻚㻥㻑㻞㻡㻚㻜㻑㻞㻝㻚㻣㻑㻞㻤㻚㻞㻑㻟㻡㻚㻟㻑㻟㻟㻚㻢㻑㻟㻞㻚㻢㻑㻞㻣㻚㻡㻑㻟㻜㻚㻢㻑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㻒㻌㻱㼚㼑㼞㼓㼥㻌㻙㻙㻙㻙㻙㻙㻡㻚㻡㻑㻠㻚㻜㻑㻡㻚㻞㻑㻝㻝㻚㻜㻑㻥㻚㻝㻑㻸㼕㼒㼑㻌㻒㻌㻴㼑㼍㼘㼠㼔㼏㼍㼞㼑㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥 㻸㼕㼒㼑 㻿㼏㼕㼑㼚㼏㼑㸧㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻸㼕㼒㼑㻌㻿㼏㼕㼑㼚㼏㼑㸧㻣㻚㻟㻑㻥㻚㻠㻑㻣㻚㻟㻑㻥㻚㻢㻑㻣㻚㻠㻑㻠㻚㻢㻑㻠㻚㻝㻑㻞㻝㻚㻠㻑㻞㻜㻚㻟㻑㻝㻡㻚㻢㻑㻝㻡㻚㻥㻑㻻㼠㼔㼑㼞㻙㻠㻚㻠㻑㻙㻝㻚㻣㻑㻙㻜㻚㻞㻑㻝㻚㻟㻑㻜㻚㻜㻑㻜㻚㻝㻑㻜㻚㻤㻑㻝㻚㻠㻑㻝㻚㻝㻑㻝㻚㻜㻑㻙㼀㼛㼠㼍㼘㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑 㻝㻜㻜㻚㻜㻑㻝㻜㻜㻑㻝㻜㻜㻑

2SHUDWLQJ3URILW5DWLRVE\6HJPHQWV
6%5%4%3%2%1%0%
FY05

FY06

FunctionalMaterials䠄formerlyChemicals䠅

FY07

FY08

FY09

AdvancedMaterials&Processing䠄formerlyPlastics䠅

FY10FY11Electronics

FY12

Automotive&Energy

FY13FY14FY15forecastLife&Healthcare䠄formerlyLifeScience䠅

Total

2SHUDWLQJ3URILW5DWLRVE\6HJPHQWV㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕)<)<)<)<)<)<)<)<)<)<)<
IRUHFDVW㻲㼡㼚㼏㼠㼕㼛㼚㼍㼘㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻯㼔㼑㼙㼕㼏㼍㼘㼟㸧㻞㻚㻡㻑㻞㻚㻤㻑㻟㻚㻜㻑㻞㻚㻞㻑㻞㻚㻥㻑㻟㻚㻢㻑㻟㻚㻡㻑㻞㻚㻢㻑㻞㻚㻡㻑㻞㻚㻢㻑㻞㻚㻡㻑㻭㼐㼢㼍㼚㼏㼑㼐㻌㻹㼍㼠㼑㼞㼕㼍㼘㼟㻌㻒㻌㻼㻼㼞㼛㼏㼑㼟㼟㼕㼚㼓㻌㼕㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻼㼘㼍㼟㼠㼕㼏㼟㸧㻞 㻥㻑㻞㻚㻥㻑㻞 㻣㻑㻞㻚㻣㻑㻞 㻞㻑㻞㻚㻞㻑㻝 㻜㻑㻝㻚㻜㻑㻝 㻞㻑㻝㻚㻞㻑㻞 㻝㻑㻞㻚㻝㻑㻝 㻠㻑㻝㻚㻠㻑㻝 㻡㻑㻝㻚㻡㻑㻝 㻡㻑㻝㻚㻡㻑㻝 㻥㻑㻝㻚㻥㻑㻝 㻥㻑㻝㻚㻥㻑㻱㼘㼑㼏㼠㼞㼛㼚㼕㼏㼟㻟 㻠㻑㻟㻚㻠㻑㻠 㻝㻑㻠㻚㻝㻑㻠 㻟㻑㻠㻚㻟㻑㻞 㻜㻑㻞㻚㻜㻑㻞 㻠㻑㻞㻚㻠㻑㻠 㻠㻑㻠㻚㻠㻑㻡 㻠㻑㻡㻚㻠㻑㻡 㻝㻑㻡㻚㻝㻑㻠 㻣㻑㻠㻚㻣㻑㻟 㻣㻑㻟㻚㻣㻑㻠 㻝㻑㻠㻚㻝㻑㻙㻙㻙㻜㻚㻥㻑㻝㻚㻜㻑㻞㻚㻜㻑㻝㻚㻣㻑㻭㼡㼠㼛㼙㼛㼠㼕㼢㼑㻌㻒㻌㻱㼚㼑㼞㼓㼥㻌㻙㻙㻙㻝㻚㻞㻑㻸㼕㼒㼑㻌㻒㻌㻴㼑㼍㼘㼠㼔㼏㼍㼞㼑㻌㸦㼒㼛㼞㼙㼑㼞㼘㼥㻌㻸㼕㼒㼑㻌㻿㼏㼕㼑㼚㼏㼑㸧㻞㻚㻞㻑㻟㻚㻣㻑㻟㻚㻜㻑㻞㻚㻜㻑㻝㻚㻣㻑㻝㻚㻥㻑㻝㻚㻠㻑㻡㻚㻠㻑㻡㻚㻞㻑㻠㻚㻝㻑㻠㻚㻝㻑㼀㼛㼠㼍㼘㻞㻚㻣㻑㻟㻚㻝㻑㻟㻚㻜㻑㻝㻚㻤㻑㻞㻚㻞㻑㻞㻚㻤㻑㻞㻚㻝㻑㻞㻚㻟㻑㻞㻚㻞㻑㻞㻚㻠㻑㻞㻚㻠㻑

1000Millionsofyen

1HW6DOHVE\5HJLRQ㸦'HVWLQDWLRQ㸧
5,000

60%

4,500
50%
4,000

3,500
40%
3,000

2,500
2,500

30%

2,000
20%
1,500

1,000
10%
500

00%
FY 05
FY05
Japan

FY 06
FY06

FY 07
FY07

Overseas

FY 08
FY08

NortheastAsia

FY 09
FY09

FY 10
FY10SoutheastAsia

FY 11
FY11

FY 12
FY12NorthAmerica

FY 13
FY13Europe&Other

FY 14
FY14
OverseasShare

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1RQFXUUHQW
1RQ
FXUUHQWDVVHWV
DVVHWV H[FOXGLQJ
H[FOXGLQJLQYHVWPHQWVLQVHFXULWLHV
LQYHVWPHQWV LQ VHFXULWLHV(TXLW\FDSLWDO㹀㹑7UHQGV㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕㻌㻲㼅㻌㻝㻡㻌㻞㻽㻲㼅㻌㻜㻡㻌㻲㼅㻌㻜㻢㻌 㻲㼅㻌㻜㻣㻌 㻲㼅㻌㻜㻤㻌㻲㼅㻌㻜㻥㻌㻲㼅㻌㻝㻜㻌㻲㼅㻌㻝㻝㻌㻲㼅㻌㻝㻞㻌㻲㼅㻌㻝㻟㻌㻲㼅㻌㻝㻠㼀㼛㼠㼍㼘㻌㼍㼟㼟㼑㼠㼟㻌㻟㻥㻢㻘㻣㻣㻟㻠㻞㻞㻘㻤㻡㻥㻠㻝㻥㻘㻤㻢㻥㻟㻠㻜㻘㻥㻢㻤㻟㻢㻤㻘㻜㻤㻤㻟㻣㻡㻘㻟㻟㻢㻠㻡㻜㻘㻤㻠㻞㻠㻤㻢㻘㻣㻠㻣㻠㻥㻤㻘㻝㻠㻝㻡㻠㻢㻘㻡㻞㻡 㻡㻟㻞㻘㻝㻢㻝㻯㼍㼟㼔㻌㼍㼚㼐㻌㼐㼑㼜㼛㼟㼕㼠㼟㻞㻟㻘㻡㻟㻥㻞㻝㻘㻥㻞㻞㻞㻟㻘㻠㻥㻜㻟㻢㻘㻝㻟㻣㻠㻞㻘㻤㻜㻣㻠㻣㻘㻞㻜㻞㻞㻥㻘㻝㻤㻠㻠㻢㻘㻢㻥㻟㻟㻠㻘㻥㻤㻜㻠㻜㻘㻡㻣㻡㻠㻟㻘㻠㻞㻣㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻌㻥㻟 㻟㻞㻤㻥㻟㻘㻟㻞㻤㻤㻤 㻜㻢㻡㻤㻤㻘㻜㻢㻡㻢㻞 㻡㻠㻢㻢㻞㻘㻡㻠㻢㻠㻟 㻡㻢㻥㻠㻟㻘㻡㻢㻥㻡㻟 㻢㻤㻤㻡㻟㻘㻢㻤㻤㻡㻜 㻣㻞㻢㻡㻜㻘㻣㻞㻢㻠㻥 㻜㻝㻠㻠㻥㻘㻜㻝㻠㻡㻢 㻤㻣㻜㻡㻢㻘㻤㻣㻜㻢㻢 㻞㻣㻡㻢㻢㻘㻞㻣㻡㻥㻞 㻢㻟㻤㻥㻞㻘㻢㻟㻤㻤㻜 㻤㻜㻣㻤㻜㻘㻤㻜㻣㻺㼛㼚㻙㼏㼡㼞㼞㼑㼚㼠㻌㼍㼟㼟㼑㼠㼟㻌㻔㼑㼤㼏㼘㼡㼐㼕㼚㼓㻌㼕㼚㼢㼑㼟㼠㼙㼑㼚㼠㼟㻌㼕㼚㻌㼟㼑㼏㼡㼞㼕㼠㼕㼑㼟㻕㻟㻣㻘㻝㻠㻡㻠㻟㻘㻝㻢㻤㻠㻣㻘㻣㻜㻤㻠㻤㻘㻞㻡㻝㻠㻢㻘㻢㻞㻡㻠㻣㻘㻟㻜㻢㻝㻝㻥㻘㻡㻠㻣㻝㻞㻠㻘㻝㻞㻢㻝㻞㻡㻘㻡㻜㻟㻝㻞㻠㻘㻜㻟㻥 㻝㻞㻞㻘㻞㻢㻝㻵㼚㼠㼑㼞㼑㼟㼠㻙㼎㼑㼍㼞㼕㼚㼓㻌㼐㼑㼎㼠㻌㻞㻠㻘㻤㻟㻠㻞㻜㻘㻠㻥㻝㻟㻟㻘㻟㻠㻞㻟㻝㻘㻟㻠㻜㻞㻝㻘㻤㻤㻢㻞㻣㻘㻝㻞㻡㻤㻤㻘㻣㻝㻜㻥㻤㻘㻠㻞㻡㻥㻞㻘㻤㻞㻤㻥㻤㻘㻠㻥㻟㻱㼝㼡㼕㼠㼥㻌㼏㼍㼜㼕㼠㼍㼘㻝㻥㻢㻘㻢㻞㻜㻞㻜㻡㻘㻜㻤㻠㻞㻜㻜㻘㻡㻡㻡㻝㻤㻠㻘㻢㻜㻜㻝㻥㻡㻘㻟㻠㻡㻞㻜㻝㻘㻡㻝㻣㻞㻜㻠㻘㻣㻜㻢㻞㻞㻤㻘㻡㻜㻡㻞㻠㻢㻘㻣㻞㻟㻞㻤㻝㻘㻟㻥㻤 㻞㻣㻡㻘㻢㻠㻞㻺㼑㼠㻌㼃㼛㼞㼠㼔㻌㻾㼍㼠㼕㼛㻠㻥㻚㻢㻑㻠㻤㻚㻡㻑㻠㻣㻚㻤㻑㻡㻠㻚㻝㻑㻡㻟㻚㻝㻑㻡㻟㻚㻣㻑㻠㻡㻚㻠㻑㻠㻢㻚㻥㻑㻠㻥㻚㻡㻑㻡㻝㻚㻡㻑㻥㻥㻘㻝㻤㻤㻡㻝㻚㻤㻑

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S \$FFRXQWVUHFHLYDEOHWXUQRYHU$FFRXQWVSD\DEOHWXUQRYHU

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,QYHVWLQJ&)

)LQDQFLQJ&)

㹁㹄7UHQGV㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕㻲㼅㻌㻜㻡㻲㼅㻌㻜㻢㻲㼅㻌㻜㻣㻌 㻲㼅㻌㻜㻤㻌 㻲㼅㻌㻜㻥㻌 㻲㼅㻌㻝㻜㻌 㻲㼅㻌㻝㻝㻌 㻲㼅㻌㻝㻞㻌 㻲㼅㻌㻝㻟㻌 㻲㼅㻌㻝㻠㻌㻡㻘㻢㻥㻜㻌㻝㻤㻘㻡㻣㻢㻌㻲㼅㻌㻝㻡㻌㻞㻽㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻯㻛㻲㻌㻌㻙㻞㻘㻟㻠㻝㻌㻝㻜㻘㻤㻡㻡㻌㻙㻞㻘㻡㻤㻢㻌㻟㻢㻘㻝㻢㻝㻌㻞㻣㻘㻤㻣㻡㻌㻝㻜㻘㻥㻥㻣㻌㻝㻞㻘㻣㻞㻝㻌㻝㻡㻘㻠㻣㻠㻌㻥㻘㻠㻞㻟㻌㻵㼚㼢㼑㼟㼠㼕㼚㼓㻌㻯㻛㻲㻌㻌㻙㻟㻘㻤㻜㻥㻌㻙㻡㻘㻞㻜㻟㻌㻙㻣㻘㻜㻜㻥㻌 㻙㻝㻝㻘㻜㻢㻞㻌㻙㻥㻘㻠㻟㻤㻌㻙㻥㻘㻝㻠㻣㻌 㻙㻤㻝㻘㻜㻢㻢㻌㻙㻥㻘㻡㻞㻥㻌 㻙㻝㻠㻘㻝㻣㻝㻌㻙㻣㻘㻣㻟㻞㻌㻙㻡㻘㻟㻤㻞㻌㻲㼕㻲㼕㼚㼍㼚㼏㼕㼚㼓㻌㻯㻛㻲㻌㼕 㻯㻛㻲㻥 㻟㻟㻜㻥㻘㻟㻟㻜㻌㻙㻤㻘㻠㻞㻜㻌㻤 㻠㻞㻜㻝㻜 㻣㻟㻤㻝㻜㻘㻣㻟㻤㻌㻙㻡㻘㻡㻠㻥㻌㻡 㻡㻠㻥 㻙㻝㻝㻘㻣㻡㻟㻌㻝㻝 㻣㻡㻟㻟 㻡㻢㻠㻟㻘㻡㻢㻠㻌㻡㻢 㻥㻢㻝㻡㻢㻘㻥㻢㻝㻌㻝 㻝㻢㻠 㻙㻝㻝㻘㻤㻟㻟㻌㻝㻘㻝㻢㻠㻌㻝㻝 㻤㻟㻟㻙㻟㻘㻞㻜㻡㻌㻟 㻞㻜㻡㻙㻤㻢㻣㻌㻤㻢㻣㻺㼑㼠㻌㼕㼚㼏㼛㼙㼑㻌㼎㼑㼒㼛㼞㼑㻌㼠㼍㼤㼑㼟㻌㻞㻜㻘㻡㻤㻟㻌㻞㻟㻘㻜㻥㻡㻌㻞㻜㻘㻞㻢㻠㻌㻝㻝㻘㻝㻤㻟㻌㻝㻟㻘㻡㻟㻠㻌㻞㻜㻘㻥㻝㻤㻌㻝㻢㻘㻡㻟㻢㻌㻝㻥㻘㻠㻡㻤㻌㻝㻤㻘㻟㻡㻟㻌㻝㻤㻘㻥㻤㻥㻌㻥㻘㻤㻠㻢㻌㻰㼑㼜㼞㼑㼏㼕㼍㼠㼕㼛㼚㻌㼍㼚㼐㻌㼍㼙㼛㼞㼠㼕㼦㼍㼠㼕㼛㼚㻌㻟㻘㻡㻞㻤㻌㻠㻘㻝㻝㻜㻌㻡㻘㻝㻟㻝㻌㻡㻘㻠㻞㻡㻌㻡㻘㻥㻣㻢㻌㻢㻘㻟㻤㻣㻌㻣㻘㻞㻣㻟㻌㻣㻘㻠㻠㻡㻌㻤㻘㻢㻟㻠㻌㻥㻘㻞㻥㻞㻌㻠㻘㻣㻠㻣㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻌㻙㻝㻣㻘㻝㻟㻢㻌㻙㻟㻘㻤㻞㻢㻌 㻙㻝㻥㻘㻥㻡㻣㻌㻞㻟㻘㻠㻢㻝㻌㻣㻘㻜㻡㻝㻌 㻙㻝㻝㻘㻣㻡㻡㻌 㻙㻝㻞㻘㻢㻠㻥㻌㻙㻢㻘㻝㻞㻡㻌 㻙㻝㻡㻘㻡㻝㻤㻌 㻙㻝㻢㻘㻜㻠㻠㻌㻙㻞㻣㻡㻌㼃㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻌㻝㻝㻢㻘㻝㻞㻞㻌 㻝㻝㻥㻘㻥㻠㻤㻌 㻝㻟㻥㻘㻥㻜㻡㻌 㻝㻝㻢㻘㻠㻠㻠㻌 㻝㻜㻥㻘㻟㻥㻟㻌 㻝㻞㻝㻘㻝㻠㻤㻌 㻝㻟㻟㻘㻣㻥㻣㻌 㻝㻟㻥㻘㻥㻞㻞㻌 㻝㻡㻡㻘㻠㻠㻜㻌 㻝㻣㻝㻘㻠㻤㻠㻌 㻝㻣㻝㻘㻣㻡㻥㻌100millionsofyen㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻯㻛㻲㻌㻔㼑㼤㼏㼘㼡㼐㼕㼚㼓㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻕㻌)<)<)<)<)<)<)<)<)<)<)<4
2SHUDWLQJ&)
H[FOXGLQJ&KDQJHLQZRUNLQJFDSLWDO ,QYHVWLQJ&)

)LQDQFLQJ&)

㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻯㻛㻲㻌㻔㼑㼤㼏㼘㼡㼐㼕㼚㼓㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻕㻌㻔㼙㼕㼘㼘㼕㼛㼚㼟㻌㼛㼒㻌㼥㼑㼚㻕㻲㼅㻌㻝㻟㻌 㻲㼅㻌㻝㻠㻲㼅㻌㻝㻡㻌㻲㼅㻝㻡㻞㻽㻲㼅㻌㻜㻡㻲㼅㻌㻜㻢㻲㼅㻌㻜㻣㻲㼅㻌㻜㻤㻲㼅㻌㻜㻥㻲㼅㻌㻝㻜㻲㼅㻌㻝㻝㻲㼅㻌㻝㻞㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻯㻛㻲㻌㻌㻙㻞㻘㻟㻠㻝㻝㻜㻘㻤㻡㻡㻙㻞㻘㻡㻤㻢㻟㻢㻘㻝㻢㻝㻞㻣㻘㻤㻣㻡㻝㻜㻘㻥㻥㻣㻡㻘㻢㻥㻜㻝㻤㻘㻡㻣㻢㻝㻞㻘㻣㻞㻝㻝㻡㻘㻠㻣㻠㻥㻘㻠㻞㻟㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼣㼛㼞㼗㼕㼚㼓㻌㼓㼓㼏㼍㼜㼕㼠㼍㼘㻌㻙㻝㻣㻘㻝㻟㻢㻝㻣 㻝㻟㻢㻙㻟㻘㻤㻞㻢㻟 㻤㻞㻢㻙㻝㻥㻘㻥㻡㻣㻝㻥 㻥㻡㻣㻞㻟 㻠㻢㻝㻞㻟㻘㻠㻢㻝㻣 㻜㻡㻝㻣㻘㻜㻡㻝㻙㻝㻝㻘㻣㻡㻡㻝㻝 㻣㻡㻡㻙㻝㻞㻘㻢㻠㻥㻝㻞 㻢㻠㻥㻙㻢㻘㻝㻞㻢㻢 㻝㻞㻢㻙㻝㻡㻘㻡㻝㻤㻝㻡 㻡㻝㻤㻙㻝㻢㻘㻜㻠㻠㻝㻢 㻜㻠㻠㻙㻞㻣㻡㻞㻣㻡㻻㼜㼑㼞㼍㼠㼕㼚㼓㻌㻯㻛㻲㻔㼑㼤㼏㼘㼡㼐㼕㼚㼓㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㼣㼛㼞㼗㼕㼚㼓㻌㼏㼍㼜㼕㼠㼍㼘㻕㻌㻌㻝㻠㻘㻣㻥㻡㻝㻠㻘㻢㻤㻝㻝㻣㻘㻟㻣㻝㻝㻞㻘㻣㻜㻜㻞㻜㻘㻤㻞㻠㻞㻞㻘㻣㻡㻞㻝㻤㻘㻟㻟㻥㻞㻠㻘㻣㻜㻝㻞㻤㻘㻞㻟㻥㻟㻝㻘㻡㻝㻤㻥㻘㻢㻥㻤㻵㼚㼢㼑㼟㼠㼕㼚㼓㻌㻯㻛㻲㻌㻌㻙㻟㻘㻤㻜㻥㻙㻡㻘㻞㻜㻟㻙㻣㻘㻜㻜㻥㻙㻝㻝㻘㻜㻢㻞㻙㻥㻘㻠㻟㻤㻙㻥㻘㻝㻠㻣㻙㻤㻝㻘㻜㻢㻢㻙㻥㻘㻡㻞㻥㻙㻝㻠㻘㻝㻣㻝㻙㻣㻘㻣㻟㻞㻙㻡㻘㻟㻤㻞㻲㼕㼚㼍㼚㼏㼕㼚㼓 㻯㻛㻲㻲㼕㼚㼍㼚㼏㼕㼚㼓㻌㻯㻛㻲㻌㻥㻘㻟㻟㻜㻙㻤㻘㻠㻞㻜㻤㻘㻠㻞㻜㻝㻜㻘㻣㻟㻤㻙㻡㻘㻡㻠㻥㻡㻘㻡㻠㻥㻙㻝㻝㻘㻣㻡㻟㻝㻝㻘㻣㻡㻟㻟㻘㻡㻢㻠㻡㻢㻘㻥㻢㻝㻝㻘㻝㻢㻠㻙㻝㻝㻘㻤㻟㻟㻝㻝㻘㻤㻟㻟㻙㻟㻘㻞㻜㻡㻟㻘㻞㻜㻡㻙㻤㻢㻣㻤㻢㻣12㻞㻟㻘㻜㻢㻟㻞㻠㻘㻤㻞㻟㻞㻜㻘㻞㻢㻠㻝㻜㻘㻜㻜㻡㻠㻝㻥㻘㻤㻢㻥㻞㻜㻤㻘㻟㻣㻣㻝㻤㻜㻘㻜㻟㻥㻞㻜㻘㻡㻝㻡㻔㻝㻤㻘㻢㻝㻟㻕㻔㻝㻘㻥㻞㻞㻕㻞㻜㻜㻘㻡㻡㻠㻞㻝㻘㻢㻢㻥㻞㻟㻘㻞㻟㻝㻞㻟㻘㻜㻥㻡㻝㻟㻘㻡㻢㻣㻠㻞㻞㻘㻤㻡㻥㻞㻝㻝㻘㻢㻣㻞㻝㻣㻜㻘㻥㻢㻝㻟㻠㻘㻝㻞㻝㻔㻟㻞㻘㻟㻠㻤㻕㻔㻝㻘㻣㻣㻞㻕㻞㻜㻡㻘㻜㻤㻞

Operating profit (millions of yen)

Ordinary income (millions of yen)

Net income before taxes (millions of yen)

Net income (millions of yen)

Total assets (millions of yen)

Net assets (millions of yen)

Shareholders' equity(Translation adjustments)

Equity capital

FY2007

㻣㻢㻠㻘㻣㻡㻡

㻝㻤㻟
㻣㻘㻢㻟㻥
㻠㻚㻥
㻞㻚㻠
㻝㻟㻤㻘㻠㻜㻤
㻥㻘㻤㻜㻣

㻝㻞㻟
㻢㻚㻤
㻟㻚㻟
㻝㻟㻤㻘㻠㻜㻤
㻥㻘㻥㻣㻡

ROE (%) Net income/Equity capital

ROA (%) Net income/Total assets㻝㻘㻜㻝㻤䕧㻌㻟㻝㻚㻠㻝㻞㻘㻡㻞㻢䕧㻌㻞㻣㻚㻡㻝㻣㻚㻜䠄㻜㻚㻜㻌㻗㻌㻝㻣㻚㻜㻕㻞㻘㻝㻤㻢㻞㻝㻚㻤㻝㻚㻢㻣㻝㻚㻞㻥㻝㻘㻠㻤㻡䕧㻌㻢㻚㻝㻝㻣㻘㻞㻤㻤㻝㻚㻟㻝㻤㻚㻜䠄㻣㻚㻡㻌㻗㻌㻝㻜㻚㻡㻕㻞㻘㻟㻝㻝㻝㻣㻚㻜㻝㻚㻞㻝㻝㻚㻞㻞

Fiscal year end

Change (%)

Fiscal year end

Year avg.

Net assets per share (yen)(Interim dividend + Year-end dividend)

Dividend amount (based on resolution)

Payout ratio (%)

Dividend yield (%)

Fiscal year endPER㻜㻚㻢㻡㻝㻟㻚㻜㻤㻜㻚㻥㻟㻝㻠㻚㻜㻡㻝㻥㻚㻥㻠㻜㻚㻣㻣㻝㻡㻜㻘㻞㻣㻠㻞㻣㻚㻟㻝㻚㻜㻤㻝㻚㻠㻜㻝㻚㻡㻤㻝㻚㻟㻣㻞㻣㻚㻟㻞㻘㻜㻡㻣䠄㻣㻚㻜㻌㻗㻌㻥㻚㻜㻕㻝㻢㻚㻜㻟㻢㻚㻤㻝㻝㻘㻜㻥㻜㻡㻟㻚㻢㻝㻘㻝㻢㻥㻝㻘㻡㻝㻥㻚㻢㻜㻡㻤㻚㻢㻠㻝㻞㻤㻘㻡㻠㻥㻥㻘㻤㻡㻥㻝㻟㻤㻘㻠㻜㻤㻞㻚㻝㻠㻚㻜㻣㻘㻝㻣㻟㻞㻟㻡㻝㻥㻡㻘㻟㻠㻟㻔䕧㻡㻘㻞㻞㻡㻕㻔㻝㻠㻘㻥㻢㻝㻕㻥㻘㻣㻠㻠㻝㻤㻡㻘㻡㻥㻥㻞㻜㻞㻘㻣㻡㻟㻟㻢㻤㻘㻜㻤㻤㻣㻘㻡㻟㻣㻝㻟㻘㻡㻟㻠㻝㻠㻘㻣㻝㻞㻝㻟㻘㻝㻞㻤㻢㻜㻟㻘㻥㻠㻥

FY2009㻥㻚㻥㻞㻜㻚㻢㻟㻝㻞㻣㻘㻞㻞㻥㻞㻞㻚㻜㻝㻚㻠㻞㻝㻚㻟㻝㻞㻚㻞㻝㻞㻚㻞㻞㻞㻞㻚㻝㻞㻘㻤㻞㻣䠄㻥㻚㻜㻌㻗㻌㻝㻟㻚㻜㻕㻞㻞㻚㻜䕧㻌㻝㻞㻚㻜㻥㻘㻣㻡㻡䕧㻌㻝㻡㻚㻟㻥㻥㻜㻝㻘㻡㻢㻤㻚㻜㻠㻥㻥㻚㻣㻢㻝㻞㻤㻘㻡㻝㻠㻥㻘㻤㻥㻠㻝㻟㻤㻘㻠㻜㻤㻟㻚㻠㻢㻚㻡㻣㻘㻡㻢㻠㻞㻟㻡㻞㻜㻝㻘㻡㻝㻢㻔䕧㻣㻘㻢㻝㻜㻕㻔㻝㻟㻘㻝㻤㻤㻕㻡㻘㻡㻣㻜㻝㻥㻡㻘㻥㻠㻢㻞㻜㻥㻘㻟㻝㻢㻟㻣㻡㻘㻟㻟㻢㻝㻞㻘㻤㻞㻟㻞㻜㻘㻥㻝㻤㻞㻜㻘㻢㻞㻡㻝㻤㻘㻣㻟㻞㻢㻢㻜㻘㻞㻝㻟FY2010㻝㻡㻚㻟㻢㻜㻚㻢㻠㻝㻟㻝㻘㻡㻥㻥㻟㻢㻚㻜㻝㻚㻡㻞㻝㻚㻜㻥㻞㻚㻠㻥㻞㻚㻟㻠㻟㻢㻚㻜㻟㻘㻜㻤㻠䠄㻝㻞㻚㻜㻌㻗㻌㻝㻞㻚㻜㻕㻞㻠㻚㻜㻟㻚㻠㻝㻜㻘㻜㻤㻠㻟㻚㻠㻝㻘㻜㻞㻠㻝㻘㻡㻥㻞㻚㻤㻣㻢㻢㻚㻢㻥㻝㻞㻤㻘㻡㻝㻠㻥㻘㻤㻥㻠㻝㻟㻤㻘㻠㻜㻤㻞㻚㻝㻠㻚㻞㻣㻘㻥㻞㻣㻝㻝㻜㻞㻜㻠㻘㻣㻜㻢㻔䕧㻥㻘㻝㻥㻝㻕㻔㻝㻞㻘㻣㻟㻝㻕㻟㻘㻡㻝㻤㻞㻜㻝㻘㻝㻤㻤㻞㻝㻞㻘㻣㻠㻠㻠㻡㻜㻘㻤㻠㻞㻤㻘㻡㻣㻜㻝㻢㻘㻡㻟㻢㻝㻡㻘㻢㻥㻜㻝㻟㻘㻠㻞㻣㻢㻟㻝㻘㻤㻡㻠FY2011㻝㻜㻚㻞㻡㻜㻚㻢㻠㻝㻠㻡㻘㻟㻠㻞㻟㻠㻚㻥㻝㻚㻡㻞㻜㻚㻡㻢㻞㻚㻣㻟㻞㻚㻞㻣㻞㻟㻚㻠㻟㻘㻞㻥㻡䠄㻝㻟㻚㻜㻌㻗㻌㻝㻟㻚㻜㻕㻞㻢㻚㻜㻞㻟㻚㻜㻝㻞㻘㻟㻥㻤㻝㻞㻚㻜㻝㻘㻝㻠㻣㻝㻘㻤㻜㻟㻚㻟㻜㻝㻝㻝㻚㻟㻝㻝㻞㻢㻘㻣㻝㻡㻝㻝㻘㻢㻥㻟㻝㻟㻤㻘㻠㻜㻤㻟㻚㻜㻢㻚㻡㻥㻘㻞㻡㻜㻡㻜㻞㻞㻤㻘㻡㻜㻡㻔䕧㻝㻘㻞㻞㻟㻕㻔㻝㻣㻘㻥㻠㻟㻕㻝㻢㻘㻣㻝㻞㻞㻝㻝㻘㻣㻥㻞㻞㻟㻣㻘㻤㻜㻢㻠㻤㻢㻘㻣㻠㻣㻝㻠㻘㻝㻤㻞㻝㻥㻘㻠㻡㻤㻝㻣㻘㻥㻞㻣㻝㻡㻘㻡㻣㻤㻢㻢㻢㻘㻞㻣㻞FY2012㻝㻟㻚㻤㻥㻜㻚㻢㻢㻝㻢㻝㻘㻥㻢㻣㻟㻜㻚㻡㻝㻚㻡㻜㻜㻚㻢㻝㻞㻚㻟㻝㻞㻚㻞㻜㻟㻜㻚㻡㻟㻘㻡㻡㻣䠄㻝㻠㻚㻜㻌㻗㻌㻝㻠㻚㻜㻕㻞㻤㻚㻜㻝㻥㻚㻢㻝㻠㻘㻤㻞㻤㻝㻝㻚㻞㻝㻘㻞㻣㻡㻝㻘㻥㻠㻞㻚㻞㻜㻥㻝㻚㻤㻢㻝㻞㻣㻘㻜㻟㻟㻝㻝㻘㻟㻣㻡㻝㻟㻤㻘㻠㻜㻤㻞㻚㻠㻠㻚㻥㻡㻘㻝㻢㻤㻜㻞㻠㻢㻘㻣㻞㻟㻔㻞㻘㻞㻟㻥㻕㻔㻞㻠㻘㻣㻞㻡㻕㻞㻣㻘㻟㻠㻢㻞㻝㻥㻘㻟㻣㻣㻞㻡㻝㻘㻤㻥㻞㻠㻥㻤㻘㻝㻠㻝㻝㻝㻘㻢㻢㻟㻝㻤㻘㻟㻡㻟㻝㻣㻘㻥㻜㻡㻝㻡㻘㻣㻤㻥㻣㻞㻟㻘㻞㻝㻞FY2013㻝㻣㻚㻢㻢㻜㻚㻣㻝㻝㻥㻥㻘㻤㻞㻝㻟㻟㻚㻣㻝㻚㻠㻠㻜㻚㻠㻜㻞㻚㻞㻞㻝㻚㻥㻝㻟㻟㻚㻣㻟㻘㻤㻝㻜䠄㻝㻡㻚㻜㻌㻗㻌㻝㻡㻚㻜㻕㻟㻜㻚㻜㻞㻥㻚㻡㻝㻥㻘㻞㻜㻣㻞㻟㻚㻠㻝㻘㻡㻣㻟㻞㻘㻞㻝㻡㻚㻝㻤㻤㻥㻚㻝㻜㻝㻞㻣㻘㻜㻟㻞㻟㻣㻢㻝㻞㻣㻘㻠㻜㻤㻞㻚㻞㻠㻚㻟㻢㻘㻝㻜㻞㻜㻞㻤㻝㻘㻟㻥㻤㻔㻥㻘㻠㻣㻤㻕㻔㻠㻠㻘㻥㻞㻜㻕㻡㻡㻘㻜㻢㻥㻞㻞㻢㻘㻟㻞㻤㻞㻤㻣㻘㻡㻜㻜㻡㻠㻢㻘㻡㻞㻡㻝㻝㻘㻟㻝㻤㻝㻤㻘㻥㻤㻥㻞㻜㻘㻟㻢㻢㻝㻤㻘㻝㻡㻟㻣㻡㻥㻘㻣㻝㻟FY2014㻙㻙㻙㻟㻟㻚㻢㻝㻚㻠㻟㻙㻙㻙㻟㻟㻚㻢㻠㻘㻜㻢㻡䠄㻝㻢㻚㻜㻌㻗㻌㻝㻢㻚㻜㻕㻟㻞㻚㻜㻙㻙㻙㻙㻞㻘㻞㻣㻡㻚㻣㻜㻥㻡㻚㻞㻡㻝㻞㻣㻘㻜㻟㻞㻟㻣㻢㻝㻞㻣㻘㻠㻜㻤㻙㻠㻚㻞㻢㻘㻣㻥㻝㻜㻞㻤㻥㻘㻜㻤㻣㻔㻥㻘㻠㻢㻡㻕㻔㻠㻠㻘㻥㻞㻜㻕㻡㻠㻘㻡㻥㻣㻞㻟㻠㻘㻠㻥㻜㻞㻥㻡㻘㻤㻣㻤㻙㻝㻞㻘㻝㻜㻜㻞㻜㻘㻡㻜㻜㻞㻜㻘㻢㻜㻜㻝㻥㻘㻡㻜㻜㻤㻞㻟㻘㻜㻜㻜

FY2015 forecast

PBR : Share price / Net assets per share = Share price / (Net assets / No. of share) = (Share price x No. of shares) / Net assets = Market capitalization / Net assets

Earnings per share : Net income / Total number of shares issued and outstanding, excluding treasury stock

Net assets per share : Net assets / Total number of shares issued and outstanding, excluding treasury stock

Payout ratio : (Total number of shares issued and outstanding, excluding treasury stock x Dividends per share) / Net incomePER : Share price / Earnings per share = Share price / (Net income / No. of shares) = (Share price x No. of shares) / Net income = Market capitalization / Net income

Dividend yield : Dividends per share / Share priceJapan Government Bond 10-Year Note Yield : Used the present value/rate (closing price) provided by QUICKROA : Net income / {(Total assets, beginning of period + Total assets, end of period) /2}

Total return ratio : {(Total number of shares issued and outstanding, excluding treasury stock x Dividends per share) +Aquisition of Treasury shares} / Net incomeDividends on equity : (Total number of shares issued and outstanding, excluding treasury stock x Dividends per share) / { (Shareholders' equity, beginning of period + Shareholders' equity, end of period) /2}㻝㻢㻚㻤㻠㻜㻚㻡㻟㻥㻣㻘㻤㻟㻡㻟㻡㻚㻠㻝㻚㻜㻣㻝㻚㻟㻠㻝㻚㻢㻥㻞㻚㻝㻜㻟㻡㻚㻠㻞㻘㻜㻡㻣䠄㻤㻚㻜㻌㻗㻌㻤㻚㻜㻕㻝㻢㻚㻜䕧㻌㻟㻡㻚㻟㻤㻘㻝㻝㻜䕧㻌㻞㻡㻚㻞㻣㻢㻝㻝㻘㻠㻟㻡㻚㻤㻣㻠㻡㻚㻝㻣㻝㻞㻤㻘㻡㻢㻞㻥㻘㻤㻝㻟㻝㻟㻤㻘㻠㻜㻤㻝㻚㻡㻟㻚㻜㻣㻘㻜㻥㻢㻞㻟㻡㻝㻤㻠㻘㻡㻥㻤㻔䕧㻢㻘㻜㻝㻢㻕㻔㻣㻘㻥㻟㻥㻕㻝㻘㻥㻤㻣㻝㻤㻞㻘㻢㻝㻝㻝㻥㻝㻘㻥㻟㻝㻟㻠㻜㻘㻥㻢㻤㻡㻘㻤㻜㻤㻝㻝㻘㻝㻤㻟㻝㻟㻘㻜㻡㻞㻝㻞㻘㻡㻞㻞㻣㻝㻡㻘㻞㻟㻤

FY2008*Equity capital = (Shareholders' equity + Valuation and translation adjustments)

ROE : Net income / {(Equity capital, beginning of period + Equity capital, end of period) /2}

Fiscal year endPBR㻞㻝㻚㻤㻝㻟㻜㻘㻤㻣㻣

㻝㻣㻚㻜㻝㻥㻜㻘㻢㻢㻤

Total return ration (%)

Fiscal year end㻝㻚㻜㻤㻝㻚㻝㻡

Market capitalization (millions of yen)

㻝㻚㻞㻤

㻝㻚㻢㻡

Change (%)

Japan Government Bond 10-Year Note Yield
Fiscal year end(%)
Dividends on equity (%)

Dividends per share (yen)Nikkei Average (closing price)

Fiscal year end㻣㻣㻚㻤㻢㻝㻘㻡㻡㻥㻚㻥㻢㻝㻜㻡㻚㻤㻠
㻝㻘㻡㻥㻣㻚㻞㻢

Earnings per share (yen)

NAGASE & CO share price (closing price)㻝㻞㻤㻘㻡㻢㻟㻝㻞㻤㻘㻟㻥㻢

Total number of shares issued and outstanding(excluding treasury stock) (1,000 Shares)

Treasury stock (1,000 Shares)

Total number of shares issued and outstanding (1,000 Shares)

Minority interests

Stock acquisition rights㻢㻘㻠㻢㻡(Unrealized holding gain on securities)

Accumulated other comprehensive income (loss)

Net sales (millions of yen)㻣㻜㻝㻘㻟㻞㻝

FY2006㻔㻾㼑㼒㼑㼞㼑㼚㼏㼑㻌㻝㻕㻌㻺㼡㼙㼑㼞㼕㼏㼍㼘㻌㻰㼍㼠㼍㻛㻵㼚㼐㼕㼏㼍㼠㼛㼞㼟㻌㻔㻲㼅㻞㻜㻜㻢㻌㻙㻌㻲㼅㻞㻜㻝㻡㻌㼒㼛㼞㼑㼏㼍㼟㼠㻕㻼㻛㻸㻮㻛㻿㻵㼚㼐㼕㼏㼍㼠㼛㼞㼟

Stock

Share PriceDividends

Share Value