Mitsubishi Gas Chemical Company, Inc.
March 19, 2013

Notice of Recording of Extraordinary Losses and Revision of Business Forecasts

Mitsubishi Gas Chemical Company, Inc. (MGC) has decided to post in its financial statements
for the fiscal year ending March 31, 2013 (FY2012) an extraordinary loss due to the structuralreform of meta-xylene (MX) and purified isophthalic acid (PIA) businesses. Accordingly, thecompany revises the FY2012 business forecasts that it announced on February 5, 2013.

1. Recording of Extraordinary Losses due to restructuring of MX-PIA Businesses
The PIA business continued to face a difficult business environment due to the prolonged
appreciation of the yen against other currencies and a worsened demand-supply balancecaused by increases in production capacity at competitors. Under one of the basic strategies(“restructuring loss-making businesses”) stated in the “MGC Will2014” Mid-term Management
Plan, MGC has strived to improve the profitability of the business. Nevertheless, it remains
unlikely that the environment of this business will turn for the better in the foreseeable future.
MGC therefore decided to discontinue PIA production at the Matsuyama, Ehime plant of A.G.
International Chemical Co., Inc. (AGIC), a consolidated subsidiary of MGC, in November 2013,
and remove the production facilities for another use. AGIC will accordingly post the losses
caused due to this decision, such as an impairment in the remaining book value of the PIA
production facilities and costs for removing the facilities and preparing the land, as
extraordinary losses in the financial statements to be published at the end of March 2013.
MGC will not only post a valuation loss in its stake in AGIC, but also transfer AGIC’s MX
production facilities using PIA raw material to MGC and write off these facilities to arecoverable amount. Assuming that the subsidiary will be liquidated following the removal of
the facilities and preparation of the land at the Matsuyama plant, MGC will also report anallowance for the relevant losses.
Following the above decision, the MGC financial statements for FY2012 will post ¥15 billion(¥18 billion in non-consolidated terms) in business structural reform expenses as an
extraordinary loss. This extraordinary loss will include the previously announced loss due tothe withdrawal from the coenzyme Q10 business.
For the immediate future, the PIA production at the AGIC plant in Mizushima, Okayama, will
be continued after being transferred to MGC. This business is expected to keep profitability.

2. Revision of consolidated business forecasts
Fiscal year ending March 31, 2013 (April 1, 2012 - March 31, 2013)(Millions of yen)
Net sales

Operatingincome

Ordinary
incomeNet income

Net income
per share (¥)

Previously announced forecasts (A)470,000

10,00024,000

5,000

11.07

Revised forecasts (B)470,000

10,00026,000(10,000(22.14)

Change (B – A)--2,000(15,000)-

Change (%)

--

8.3

-

-

452,217

9,083

26,116

12,327

27.28

Results for the previous period(ended March 31, 2012)

(Reference) Revision of non-consolidated business forecasts
Fiscal year ending March 31, 2013 (April 1, 2012 - March 31, 2013)(Millions of yen)
Net sales

Operatingincome

Ordinaryincome

Net income

Net income
per share (¥)

Previously announced forecasts (A)370,000

5,000

23,000

5,000

11.07

Revised forecasts (B)370,000

6,000

25,000(10,000)(22.14)

Change (B - A)

-1,0002,000(15,000)-Change (%)

-

20.0

8.7-

-

349,892(882)

18,126

7,390

16.36

Results for the previous period(ended March 31, 2012)

In connection with the posting of the expenses for improving business structure and thecurrent business outlook, MGC studied the recoverability of deferred income taxes anddecided to reverse them partially. This has made us anticipate the net results for FY2012 to
decline from the previously announced forecast to a negative figure, which has been reflectedin the revised full-year MGC performance forecasts. These performance forecasts assume
exchange rates of ¥90=$1 and ¥120=€1 for the unelapsed period of the fiscal year.
The previously forecasted year-end dividend of ¥6 per share remains unchanged.

Forecasts, etc., recorded in this document contain forward-looking statements that are based on management’s estimates,
assumptions and projections at the time of publication. A number of factors could cause actual results to differ materiallyfrom expectations.