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

July 12, 2024

Non-consolidated Financial Results
for the Fiscal Year Ended May 31, 2024
(Under Japanese GAAP)
Company name:
MIMASU SEMICONDUCTOR INDUSTRY CO., LTD.
Listing:
Tokyo Stock Exchange
Securities code:
8155
URL:
https://www.mimasu.co.jp/
Representative:
Tatsuro Yako, Representative Director and President
Inquiries:
Takayuki Nakajima, General Manager of Management Headquarters
Telephone:+81-27-372-2021
Scheduled date of annual general meeting of shareholders:August 29, 2024
Scheduled date to commence dividend payment:–
Scheduled date to file annual securities report:
August 29, 2024
Preparation of supplementary material on financial results:
None
Holding of financial results meeting:
None(Millions of yen with fractional amounts rounded down, unless otherwise noted)

1. Non-consolidated financial results for the fiscal year ended May 31, 2024 (from June 1, 2023 to
May 31, 2024)(1) Non-consolidated operating results
Net sales
Fiscal year ended
May 31, 2024
May 31, 2023

Operating profit

Millions of yen% Millions of yen

89,10990,936(2.0)
22.2

Basic earnings
per share
Fiscal year ended
May 31, 2024
May 31, 2023
Reference:(Percentages indicate year-on-year changes.)% Millions of yen

10,312
11,177

Diluted earnings
per share

Yen

Ordinary profit

(7.7)
47.9

10,152
11,001Return on equity

Yen

222.47237.16––

Profit% Millions of yen

(7.7)
45.4

7,146
7,618

%

(6.2)
48.6

Ratio of ordinary
Ratio of operating
profit to total
profit to net sales
assets

%

%

%

9.0
10.4

8.3
9.6

11.6
12.3

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended May 31, 2024: ¥– million
For the fiscal year ended May 31, 2023: ¥– million(2) Non-consolidated financial position
Total assets
As of
May 31, 2024
May 31, 2023
Reference:

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

121,181
124,339

81,58976,396

67.3
61.4

2,539.85
2,378.18

EquityAs of May 31, 2024:
As of May 31, 2023:¥81,589 million¥76,396 million

(3) Non-consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended
May 31, 2024
May 31, 2023

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of
periodMillions of yen

Millions of yen

Millions of yen

Millions of yen

18,567
14,272(18,260)(10,494)(2,078)(1,862)

19,47821,2402. Cash dividends
Annual dividends per share

Fiscal year ended
May 31, 2023
Fiscal year ended
May 31, 2024
Fiscal year ending
May 31, 2025
(Forecast)First
quarterend

Secondquarterend

Third
quarterend

Fiscalyear-end

Yen

Yen

Yen

Yen

Total

Total cash
dividends(Total)Payout ratio

Ratio ofdividends to
net assets%%

Yen Millions of yen

–

32.00

–

32.00

64.00

2,055

27.0

2.8

–

32.00

–

0.00

32.00

1,027

14.4

1.3

–

–

–

–

–

–

Note: As announced in “Announcement of Revision of Year-End Dividend Forecast (No Dividend) for the Fiscal YearEnding May 31, 2024” dated April 25, 2024, the Company will not pay a year-end dividend for the fiscal year ended
May 31, 2024, in light of the tender offer by Shin-Etsu Chemical Co., Ltd. (the “Tender Offeror”) for the commonshares of the Company. In addition, as announced in “Announcement of Opinion in Support of the Commencement of
the Tender Offer for Shares of the Company by the Company’s Affiliate Shin-Etsu Chemical Co., Ltd. andRecommendation to Tender” dated June 20, 2024, the Company has not presented the dividend forecast for the fiscal
year ending May 31, 2025 due to the planned delisting of the Company’s shares after the tender offer by the Tender
Offeror and a series of subsequent procedures are carried out.

3. Non-consolidated earnings forecasts for the fiscal year ending May 31, 2025 (from June 1, 2024 to
May 31, 2025)
As announced in “Announcement of Opinion in Support of the Commencement of the Tender Offer for Shares of theCompany by the Company’s Affiliate Shin-Etsu Chemical Co., Ltd. and Recommendation to Tender” dated June 20,
2024, the Company has not presented the earnings forecasts for the fiscal year ending May 31, 2025 due to the planneddelisting of the Company’s shares after the tender offer by the Tender Offeror and a series of subsequent procedures arecarried out.

* Notes(1) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations:None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(2) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of May 31, 2024

35,497,183 shares

As of May 31, 2023

35,497,183 shares(ii) Number of treasury shares at the end of the period
As of May 31, 2024

3,373,565 shares

As of May 31, 2023

3,373,211 shares(iii) Average number of shares outstanding during the period
Fiscal year ended May 31, 2024

32,123,908 sharesFiscal year ended May 31, 2023

32,124,283 shares* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Proper use of earnings forecasts, and other special matters
As announced in “Announcement of Opinion in Support of the Commencement of the Tender Offer for
Shares of the Company by the Company’s Affiliate Shin-Etsu Chemical Co., Ltd. and Recommendation
to Tender” dated June 20, 2024, the Company has not presented the earnings forecasts for the fiscal year
ending May 31, 2025 due to the planned delisting of the Company’s shares after the tender offer by theTender Offeror and a series of subsequent procedures are carried out.

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Attached Materials
Index
1. Overview of operating results and others ................................................................................................. 2(1) Overview of operating results for the fiscal year ............................................................................... 2(2) Overview of financial position for the fiscal year .............................................................................. 3(3) Overview of cash flows for the fiscal year ......................................................................................... 3(4) Future outlook .................................................................................................................................... 3(5) Basic policy on profit sharing and dividends for the current fiscal year and the next fiscal year ...... 3
2. Basic policy on selection of accounting standards.................................................................................... 4
3. Non-consolidated financial statements and significant notes thereto ....................................................... 5(1) Non-consolidated balance sheet ......................................................................................................... 5(2) Non-consolidated statement of income .............................................................................................. 7(3) Non-consolidated statement of changes in equity .............................................................................. 8(4) Non-consolidated statement of cash flows ....................................................................................... 10(5) Notes to non-consolidated financial statements ............................................................................... 11
Notes on premise of going concern .................................................................................................. 11
Share of profit (loss) of entities accounted for using equity method, etc. ........................................ 11
Segment information ........................................................................................................................ 11
Per share information ....................................................................................................................... 14
Significant subsequent events........................................................................................................... 15-1-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

1. Overview of operating results and others(1) Overview of operating results for the fiscal year(i) General overview
During the fiscal year ended May 31, 2024, the Japanese economy followed a trend of moderate
recovery overall due to factors that include improvements in capital investments and personal
consumption despite the impact of the worldwide surge in resource prices, a downswing in the
global economy and other factors.
Production of semiconductor silicon wafers was continuously affected by inventory adjustments inthe device market. However, capital investments among semiconductor-related companies, theprimary users of the products of MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (the“Company”), were firm.
Amid such business environment, the Company engaged in concerted efforts to improve its
operating results, which entailed striking a balance between promoting its cutting-edge processing
technologies and lowering costs, while also actively proceeding to promote sales of products
developed in-house.
As a result, net sales decreased by 2.0% year on year to ¥89,109 million, operating profit was¥10,312 million (down 7.7% year on year), ordinary profit was ¥10,152 million (down 7.7%), andprofit was ¥7,146 million (down 6.2%).
(ii) Overview by segment
Operating results by segment are as follows. Note that the amounts of net sales and profit include
the amounts related to intersegment transactions.
Semiconductor Division
The division was affected by inventory adjustments in the device market.
As a result, net sales in this division amounted to ¥47,079 million (down 11.9% year on year), andsegment profit (operating profit) was ¥7,249 million (down 11.6%).
Industrial Sales Division
In this division, we actively engaged in sales promotions of products developed in-house as well asother products handled by the division.
As a result, sales of other products handled by the division increased, net sales in this division
amounted to ¥43,695 million (up 10.9% year on year), and segment profit (operating profit) was¥2,600 million (up 4.4%).
Engineering DivisionThis division specifically assumes the role of development and as such has been actively
developing in-house products and selling them through the Industrial Sales Division.
In addition, the division has been actively engaged in developing, designing and manufacturing
devices for use in the Semiconductor Division.
As a result, net sales in this division amounted to ¥5,690 million (down 27.3% year on year), andsegment profit (operating profit) was ¥866 million (down 22.4%).

-2-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(2) Overview of financial position for the fiscal year
Total assets as of the end of the fiscal year under review were ¥121,181 million, down ¥3,158 million
from the end of the previous fiscal year, mainly reflecting decreases in cash and deposits and tradereceivables, despite an increase in property, plant and equipment. Total liabilities were ¥39,592 million,
down ¥8,350 million, mainly reflecting a decrease in accounts payable - other. Total net assets were
¥ 81,589 million mainly reflecting an increase of ¥ 5,090 million in retained earnings.
(3) Overview of cash flows for the fiscal year
Cash and cash equivalents (“cash”) as of the end of the fiscal year under review amounted to ¥19,478
million, a decrease of ¥1,761 million from the end of the previous fiscal year.
The status of the respective cash flow categories and factors thereof were as follows:
Cash flows from operating activities
Net cash provided by operating activities during the fiscal year under review amounted to ¥18,567
million (up ¥4,294 million year on year). This was mainly due to an increase in cash largely attributableto profit before income taxes of ¥10,310 million, depreciation of ¥9,983 million, and a decrease in tradereceivables of ¥4,877 million, despite a decrease in cash largely attributable to an increase ininventories of ¥1,134 million, and income taxes paid of ¥5,293 million.
Cash flows from investing activities
Net cash used in investing activities during the fiscal year under review amounted to ¥18,260 million(up ¥7,765 million year on year). This was mainly due to purchase of property, plant and equipment of¥22,932 million, in association with capital investments carried out during the fiscal year under review.
Cash flows from financing activities
Net cash used in financing activities during the fiscal year under review amounted to ¥2,078 million(up ¥215 million year on year). This was mainly due to dividends paid of ¥2,055 million.
(4) Future outlook
The earnings forecasts for the fiscal year ending May 31, 2025 are not presented because, as stated in
our news release “Announcement of Opinion in Support of the Commencement of the Tender Offer for
Shares of the Company by the Company’s Affiliate Shin-Etsu Chemical Co., Ltd. andRecommendation to Tender” dated June 20, 2024, the Company’s stock is planned to be delisted due toa tender offer by the tender offeror and the implementation of a series of procedures subsequent to thetender offer.
(5) Basic policy on profit sharing and dividends for the current fiscal year and the next fiscal year
The Company considers improvement of operating results and sharing of profits with its shareholders
as important management issues. The Company’s basic policy is to provide shareholders withsustainable and stable dividends while securing internal reserves necessary for the enhancement ofmanagement base. As such, we will make use of our internal reserve funds making effective investment
for business enhancement toward future growth.
Annual dividends for the fiscal year will be ¥32 per share because, as stated in the news release (inJapanese) “Notice concerning revision of expected year-end dividends (no dividends) for the fiscal year
ending May 31, 2024,” dated April 25, 2024, a year-end dividend will not be paid.
In addition, concerning dividends for the following fiscal year, the dividend forecasts for the fiscal year
ending May 31, 2025 are not presented because, as stated in our news release “Announcement of-3-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Opinion in Support of the Commencement of the Tender Offer for Shares of the Company by theCompany’s Affiliate Shin-Etsu Chemical Co., Ltd. and Recommendation to Tender” dated June 20,
2024, the Company’s stock is planned to be delisted due to a tender offer by the tender offeror and theimplementation of a series of procedures subsequent to the tender offer.

2. Basic policy on selection of accounting standards
The Company’s policy, for the time being, is to prepare the non-consolidated financial statements inaccordance with the Japanese GAAP taking into consideration the comparability between nonconsolidated financial statements over different accounting periods and of different companies.
The Company will respond appropriately concerning the adoption of the International Financial
Reporting Standards (IFRS) upon consideration of various factors in Japan and overseas.

-4-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

3. Non-consolidated financial statements and significant notes thereto(1) Non-consolidated balance sheet(Millions of yen)
As of May 31, 2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Advance payments to suppliers
Prepaid expenses
Income taxes refund receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings, net
Structures, net
Machinery and equipment, net
Vehicles, net
Tools, furniture and fixtures, net
Land
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Prepaid pension costs
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets-5-

As of May 31, 2024

27,240961
39,101
4,692
1,370
4,347
374
1,368
–
1,607
(4)
81,05920,4781,351
33,834
4,016
2,368
5,158
41
766
51
1
(3)
68,066

21,502
934
8,461
68
831
2,686
–
3,298
37,78320,997
1,181
8,192
59
1,100
2,833
1,024
12,862
48,252

358
451
809

399
391
790

461
148
–
3,988
88
4,687
43,280124,339

607
89
316
2,974
83
4,072
53,114
121,181MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(Millions of yen)
As of May 31, 2023
Liabilities
Current liabilities
Notes payable - trade
Accounts payable - trade
Lease liabilities
Accounts payable - otherAccrued expenses
Income taxes payable
Contract liabilities
Deposits received
Provision for bonuses for directors (and otherofficers)
Provision for product warranties
Other
Total current liabilities
Non-current liabilities
Lease liabilities
Provision for retirement benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings
Legal retained earnings
Other retained earnings
General reserve
Retained earnings brought forward
Total retained earnings
Treasury shares
Total shareholders’ equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Total valuation and translation adjustments
Total net assets
Total liabilities and net assets-6-

As of May 31, 2024

1,315
29,604
–
9,441
3,008
3,172
644
42

235
30,367
59
4,938
1,984
–
275
43

94

66

16
396
47,73512505
38,488

–
41
5
160
207
47,943

974
–
5
124
1,103
39,592

18,824

18,824

18,77818,77818,77818,778

689

689

7,900
34,876
43,466(4,772)
76,2957,900
39,96748,556(4,773)81,385

140
(39)
100
76,396124,339

256
(52)
204
81,589121,181MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(2) Non-consolidated statement of income(Millions of yen)
Fiscal year ended
May 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Gain on sale of valuable resource
Surrender value of insurance policies
Gain on sale of non-current assets
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale and retirement of non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Subsidy income
Compensation income
Total extraordinary income
Extraordinary losses
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit-7-

Fiscal year ended
May 31, 2024

90,93669,54021,395
10,218
11,177

89,10973,087
16,021
5,709
10,312

1
12
44
15
–
4
24
103

1
15
29
19
32
3
32
134

0
277
1
278
11,001

10
283
1
294
10,152

–
–
–
–

18
100
42
160

–
–
11,001
4,719(1,336)
3,383
7,618

2
2
10,310
2,188
975
3,164
7,146

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(3) Non-consolidated statement of changes in equity
Fiscal year ended May 31, 2023
(Millions of yen)
Shareholders’ equity
CapitalsurplusRetained earnings
Other retained earnings

Share capital

Balance at beginning of period

18,824

Legal capital Legal retained
surplusearnings

18,778689

Retainedearnings
brought
forwardGeneralreserve
7,900

Total
retainedearnings

Treasuryshares(4,770)Total
shareholders’equity29,121

37,71070,541Dividends of surplus(1,863)(1,863)(1,863)

Profit

7,618

7,618

7,618

Changes during period

Purchase of treasury shares

(1)

(1)

Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

5,755

5,755

(1)

5,753

18,824

18,778689

7,900

34,876

43,466(4,772)

76,295

Valuation and translation adjustments
Valuationdifferenceonavailablefor-salesecurities
Balance at beginning of period

112

Deferred
gains orlosses onhedgesTotalvaluationandtranslation
adjustments

Total net
assets61

70,602(51)

Changes during period
Dividends of surplus(1,863)

Profit

7,618

Purchase of treasury shares
Net changes in items other thanshareholders’ equity

(1)
28

11

39

39

Total changes during period

28

11

39

5,793

Balance at end of period

140

(39)

100

76,396-8-

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Fiscal year ended May 31, 2024
(Millions of yen)
Shareholders’ equity
CapitalsurplusRetained earnings
Other retained earnings

Share capital

Balance at beginning of period

18,824

Legal capital Legal retained
surplusearnings

18,778689

Retainedearnings
brought
forwardGeneralreserve
7,900

Total
retainedearnings

Treasuryshares(4,772)

Total
shareholders’equity34,876

43,46676,295

Dividends of surplus(2,055)(2,055)(2,055)

Profit

7,146

7,146

7,146

Changes during period

Purchase of treasury shares

(1)

(1)

Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

–

–

–

–

5,090

5,090

(1)

5,089

18,824

18,778689

7,900

39,96748,556(4,773)81,385

Valuation and translation adjustments
Valuationdifferenceonavailablefor-salesecurities
Balance at beginning of period

140

Deferred
gains orlosses onhedgesTotalvaluationandtranslation
adjustments

Total net
assets100

76,396(39)

Changes during period
Dividends of surplus(2,055)

Profit

7,146

Purchase of treasury shares
Net changes in items other thanshareholders’ equity

(1)
116

(13)

103

103

Total changes during period

116

(13)

103

5,192

Balance at end of period

256

(52)

204

81,589-9-MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(4) Non-consolidated statement of cash flows(Millions of yen)
Fiscal year ended
May 31, 2023
Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses for
directors (and other officers)
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for retirement benefits
Decrease (increase) in prepaid pension costs
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)
Loss on retirement of property, plant and equipment
Compensation income
Subsidy income
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Proceeds from compensation
Subsidies received
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Purchase of treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 10 -

Fiscal year ended
May 31, 2024

11,0018,239(0)10,310
9,983
(0)

4

(27)

(56)
(343)
–
(14)
0
1
56
–
–
(3,002)(4,751)
6,797
814
18,74514(0)(4,487)––
14,272

(4)
(41)
(316)
(17)
10
(9)
13
(42)
(100)
4,877
(1,134)(316)
524
23,70917(8)(5,293)42
100
18,567(12,000)
12,000(10,119)
9
(142)
(14)
–
(227)
(10,494)(4,000)9,000(22,932)
12
(196)
(13)
43
(174)
(18,260)(1)(1,861)–(1,862)(1)(2,055)(21)(2,078)

(1)

9

1,913
19,326
21,240(1,761)
21,24019,478MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)(5) Notes to non-consolidated financial statements
Notes on premise of going concern
Not applicable.
Share of profit (loss) of entities accounted for using equity method, etc.
Not applicable.
Segment information
1. Overview of reportable segments
Reportable segments are constituent units of the Company for which financial information isseparately available. These segments have their operating results and allocation of businessresources reviewed periodically by the Company’s Board of Directors.
The Company engages in business through its three business divisions, namely the Semiconductor
Division, Industrial Sales Division and Engineering Division, all three of which serve as reportablesegments.
The Semiconductor Division engages in processing and sales of semiconductor materials such as
prime wafers and reclaimed wafers. The Industrial Sales Division engages in sales of precision
instruments such as measuring instruments, testing devices, and products incidental to suchproducts, as well as products manufactured by the Engineering Division. The Engineering Division
engages in development, design and manufacturing of devices that include semiconductor-related
automation equipment.
2. Methods of calculating the amounts of net sales, profit or loss, assets, liabilities, and other items foreach reportable segment
The accounting treatment method for reported business segments is in accordance with theaccounting policies adopted for preparing the non-consolidated financial statements.
The profit stated for a reportable segment is a figure based on operating profit. Intersegment
revenue and transfer figures are based on prevailing market prices.

- 11 -

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

3. Information on the amounts of net sales, profit or loss, assets, liabilities, and other items for eachreportable segment
Fiscal year ended May 31, 2023
Reportable segments
Semiconductor
Industrial
Division
Sales Division
Net sales
Sales from externalcustomers
Intersegment sales ortransfers
Total
Segment profit
Segment assets
Other items
Depreciation
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Engineering
Division

Total(Millions of yen)Amounts inthe nonAdjustments consolidated(Note) 1
financialstatements(Note) 2

53,44337,493–90,936–90,936

2

1,907

7,823

9,734

(9,734)–53,4468,201
61,46939,401
2,490
30,134

7,823
1,115
3,858

100,671
11,80895,462(9,734)(631)
28,87790,936
11,177
124,339

8,161
–

21
–

19
–

8,202
–

37
–

8,239
–

15,41985

34

15,53960

15,600Notes: 1. “Adjustments” include the following:(1) “Adjustments” of negative ¥631 million in “Segment profit” indicate the elimination of intersegment
transactions.
(2) “Adjustments” of ¥28,877 million in “Segment assets” include negative ¥4,970 million for the elimination ofintersegment transactions and ¥33,848 million of corporate assets that are not allocated to any reportablesegment. The corporate assets are mainly funds to manage surplus assets (cash and deposits) and assets
related to administration departments that are not attributable to a reportable segment.
(3) “Adjustments” of ¥37 million in “Depreciation” and “Adjustments” of ¥60 million in “Increase in property,
plant and equipment and intangible assets” under “Other items” are mainly related to corporate assets that are
not attributable to a reportable segment.
2. Segment profit is adjusted with operating profit in the non-consolidated statement of income.
3. Because the Engineering Division specifically assumes the role of development and its sales are conducted
through the Industrial Sales Division, it does not generate “Sales from external customers.”- 12 -

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Fiscal year ended May 31, 2024
Reportable segments
Semiconductor
Industrial
Division
Sales Division
Net sales
Sales from externalcustomers
Intersegment sales ortransfers
Total
Segment profit
Segment assets
Other items
Depreciation
Impairment losses
Increase in property,
plant and equipment
and intangible assets

Engineering
Division

Total(Millions of yen)Amounts inthe nonAdjustments consolidated(Note) 1
financialstatements(Note) 2

47,07742,031–

89,109–89,109

2

1,663

5,690

7,356

(7,356)–47,0797,249
63,39943,6952,600
32,144

5,690
866
4,079

96,465
10,716
99,623(7,356)(404)
21,558

89,10910,312
121,181

9,898
–

25
–

22
–

9,946
–

36
–

9,983
–

20,4067

520,41936

20,456

Notes: 1. “Adjustments” include the following:(1) “Adjustments” of negative ¥404 million in “Segment profit” indicate the elimination of intersegment
transactions.
(2) “Adjustments” of ¥21,558 million in “Segment assets” include negative ¥3,052 million for the elimination ofintersegment transactions and ¥24,610 million of corporate assets that are not allocated to any reportablesegment. The corporate assets are mainly funds to manage surplus assets (cash and deposits) and assets
related to administration departments that are not attributable to a reportable segment.
(3) “Adjustments” of ¥36 million in “Depreciation” and “Adjustments” of ¥36 million in “Increase in property,
plant and equipment and intangible assets” under “Other items” are mainly related to corporate assets that are
not attributable to a reportable segment.
2. Segment profit is adjusted with operating profit in the non-consolidated statement of income.
3. Because the Engineering Division specifically assumes the role of development and its sales are conducted
through the Industrial Sales Division, it does not generate “Sales from external customers.”- 13 -

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Per share information(Yen)
Fiscal year ended May 31, 2023
Net assets per share
Basic earnings per share

Fiscal year ended May 31, 2024

2,378.18

2,539.85

237.16222.47

Notes: 1. Diluted earnings per share are not presented because there are no potential shares.
2. The basis for calculation of net assets per share is as follows:
As of May 31, 2023

As of May 31, 2024

Total net assets (Millions of yen)

76,396

81,589Amount deducted from total net
assets (Millions of yen)––Amount of net assets at the end of the
fiscal year related to common share(Millions of yen)

76,396

81,589Number of issued common shares(Thousands of shares)

35,49735,497

Number of common shares held astreasury shares (Thousands of shares)

3,373

3,373

Number of common shares at the endof the fiscal year used for calculationof net assets per share (Thousands ofshares)32,12332,123

3. The basis for calculation of basic earnings per share is as follows:
Fiscal year ended May 31, 2023

Fiscal year ended May 31, 2024

7,618

7,146

–

–

Profit related to common share(Millions of yen)

7,618

7,146

Average number of common shares
outstanding during the period(Thousands of shares)

32,124

32,123

Basic earnings per share
Profit (Millions of yen)Amount not attributed to commonshareholders (Millions of yen)

- 14 -

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)

Significant subsequent events
Tender offer for shares of the Company
The Company resolved, at its Board of Directors meeting held on June 20, 2024, to express its
opinion in support of the tender offer (the “Tender Offer”) for common shares of the Company by theCompany’s affiliate Shin-Etsu Chemical Co., Ltd. (the “Tender Offeror”), and to recommend thatshareholders of the Company tender their shares in the Tender Offer. The above resolution of theBoard of Directors was reached on the premise that the Tender Offeror intends to make the Company
its wholly-owned subsidiary through the Tender Offer and a series of subsequent procedures, and that
the Company’s stock will be delisted.
(1) Overview of the Tender Offeror
(i)

Name

Shin-Etsu Chemical Co., Ltd.

(ii)

Address

4-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo(iii)

Title and name of therepresentative

Yasuhiko Saitoh, President and Representative Director(iv)

Business description

Infrastructure materials business, electronics materials business, functional materials
business, and processing & specialized services(v)

Capital amount

119,419 million yen (as of March 31, 2024)(vi)

Date of establishment

September 16, 1926

(vii)

Major shareholders andshareholding ratio(As of March 31, 2024) (Note1)

The Master Trust Bank of Japan, Ltd. (Trust account)

18.46%

Custody Bank of Japan, Ltd. (Trust account)

6.98%

JP MORGAN CHASE BANK 385632(Standing proxy: Settlement & Clearing Services Department, Mizuho
Bank, Ltd.)

4.03%

Nippon Life Insurance Company(Standing proxy: The Master Trust Bank of Japan, Ltd.)

3.85%

The Hachijuni Bank, Ltd.
(Standing proxy: The Master Trust Bank of Japan, Ltd.)

2.95%

Meiji Yasuda Life Insurance Company(Standing proxy: Custody Bank of Japan, Ltd.)

2.68%

SSBTC CLIENT OMNIBUS ACCOUNT(Standing proxy: The Hongkong and Shanghai Banking Corporation
Limited, Tokyo Branch)

2.31%

GOVERNMENT OF NORWAY(Standing proxy: Citibank, N.A., Tokyo Branch)

1.99%

STATE STREET BANK WEST CLIENT – TREATY 505234(Standing proxy: Settlement & Clearing Services Department, Mizuho
Bank, Ltd.)

1.79%

JP MORGAN CHASE BANK 385781(Standing proxy: Settlement & Clearing Services Department, Mizuho
Bank, Ltd.)

1.33%(viii) Relationship between the Company and the Tender Offeror

Capital relationship

As of June 20, 2024, the Tender Offeror directly owns 13,733,824 shares of theCompany’s stock (ownership ratio (Note 2): 42.75%) and indirectly owns 359,424
shares of the Company’s stock (ownership ratio (Note 2): 1.12%) through Shin-Etsu
Handotai Co., Ltd., a wholly-owned subsidiary of the Tender Offeror, and thus holds
a total of 14,093,248 shares of the Company’s stock (ownership ratio (Note 2):43.87%), thereby making the Company an equity-method affiliate.

Personnel relationship

As of June 20, 2024, one of the Company’s Audit & Supervisory Board members
was formerly with the Tender Offeror.

Business relationship

The Tender Offeror mainly entrusts the Company with the processing ofsemiconductor silicon wafers for the Tender Offeror group. The Company mainly
sells products to the Tender Offeror group.

Status as a related party

The Company is an equity-method affiliate of the Tender Offeror and therefore is arelated party.

- 15 -

MIMASU SEMICONDUCTOR INDUSTRY CO., LTD. (8155)
Notes: 1. “Major shareholders and shareholding ratio (as of March 31, 2024)” is taken from “Status of Major
Shareholders” in the annual securities report (for the 147th fiscal year) submitted by the Tender Offeror onJune 20, 2024.
2. “Ownership ratio” reflects the ratio (rounded off to two decimal places) against the number of shares(32,123,881 shares) derived by taking the Company’s total number of issued shares as of February 29, 2024
(35,497,183 shares) and deducting the number of treasury shares owned by the Company as of the same date
(3,373,302 shares) stated in the “Non-consolidated Financial Results for the Nine Months Ended February
29, 2024 (Under Japanese GAAP)” disclosed by the Company on March 29, 2024.

(2) Overview of the Tender Offer(i) Class of shares, etc. to be tendered, etc.
Common shares(ii) Period of the Tender Offer, etc.
From Friday, June 21, 2024 to Monday, August 5, 2024 (31 business days)(iii) Share price of Tender Offer, etc.
¥3,700 per common share(iv) Number of shares planned to be purchased
Number planned to be purchased
Minimum number planned to be purchased
Maximum number planned to be purchased- 16 -

18,390,057 shares
7,682,076 shares– shares