The History of Nissan ChemicalCore Technologies for Sustainable Growth[Existing Technologies]

Japan’s first chemical fertilizer manufacturer founded 136 years ago by TAKAMINE Jokichi, who was called “Father ofBiotechnology”.
His pioneering spirit has been passed down and continues to this very day.

Fine Organic Synthesis

Functional Polymer
DesignUltrafine Particle
Control

250,000

Optical Control[New Technologies]
Microbial Control(million yen)

Biological Evaluation

Information Science1887

1923

1965

1989

2016

At the time of founding

Establishment of company foundation
for business diversification

Acquired new technological ideas
through entry into the petrochemical businessRestarted as a value-creatingcompany

To be a future-creating company with sustainable growth
based on our core technologies

Tokyo Jinzo Hiryo, the Nissan Chemical’s predecessor organization, started in 1885 when
TAKAMINE Jokichi, who was called the “Father ofBiotechnology”, brought phosphoric ore from the
US back to Japan. Takamine, who strongly felt
the need for improve the fertilizer used in Japanese agriculture to help make Japan a modern
nation, approached SHIBUSAWA Eiichi, known
as the “Father of Japanese Capitalism”, the following year with the idea of the commercialization of fertilizer. SHIBUSAWA Eiichi, who wasfrom a wealthy farming family, deeply agreed
with Takamine’s proposal. He establishedJapan’s first chemical fertilizer manufacturer in1887 becoming chairman (president) himself.
With the Company policy “to dedicate ourselves to prosperity of the nation by agricultural fertility”, the company contributed to the increase of domestic food production.

In the first half of the twentieth century, amid avariety of M&A activities by domestic corporates, the three companies were joined in 1923.
The Company then promoted business diversification and entered under the umbrella of Nissan
zaibatsu (Nissan Concern Company Group) in1937, which was the 50th anniversary of its founding, renamed Nissan Chemical Industries.
After World War II, under the separation directive based on the Corporate Reconstruction
and Improvement Law, the fat and oil section
was separated into Nippon Oil and Fats (currentNOF) in 1949 and Nissan Chemical Industries
newly started.

In 1965, we established Nissan Petrochemicals and entered the petrochemical business. However, the petrochemical industry experienced a structural slump due tothe impact of the oil crises. The Company
worked to rebuild its business, but it was
unable to improve its profitability and began rationalization. The Company exitedthe petrochemical business in 1988.
Although resulting in a large deficit,
this business brought the penetration oft e c h n o l o g i ca l i d e a s t o t h e C o m p a n y,which led to the development of new technologies and businesses such as finechemicals.

In 1989, we launched our mid-term business plan declaring the comeback as a value-creating company oriented with its
two pillars: high-tech fields such as agrochemicals and pharmaceuticals, and technology fields such as functional products
and chemicals. The results of continued
R&D investment in this difficult situation
emerged. By the early 1990s, we releaseda large number of agrochemicals on themarket and entered the semiconductor
field. In the 2000s, sales of the active ingredient of LIVALO®*, an anti-cholesterol
drug, increased significantly and we acquired exclusive marketing rights inJapan to ROUNDUP®, the world’s largest
herbicide. This was followed by the creation of new agrochemicals that are themain products at present.

In 2016, the Company launched the longterm business plan “Progress2030” looking ahead to 2030, recognizing the importance of expanding its business domains
for sustainable growth.
We expand our business transcending
the framework of industry and accelerate
this effort toward the future. In order toclarify this stance, in 2018, we changed ourname to Nissan Chemical Corporation.
In 2022, in light of the significant changes in the business environment, which
was the premise for the formulation of
Progress2030, we have launched the newlong-term business plan “Atelier2050”,
looking ahead to 2050, in order to chart acourse for the Group to continue to develop and contribute to solving social issues.

* LIVALO® is a registered trademark of Kowa Company, Ltd.

SHIBUSAWA Eiichi (second from left) visiting Oji
Plant just after the completion of the three-company joint.
Seen on the left is TANAKA
Eihachiro who served ascompany president from1923 to 1941.

200,00040(%)

Nissan Petrochemicals Chiba Plant (1968)

Three-company Joint
Manufacture of sulfuric acid, soda, etc.

Kanto Soda

150,00030Nippon Kagaku Hiryo(renamed from Nippon Seimi Seizo)
The land in Ojima 1-chome, Koto-ku, Tokyo, now known as Kamayabori,
had been selected for its convenience in transporting raw materialsand products. In 1888, the production of superphosphate (fertilizer)
started.

Dainippon Jinzo Hiryo(surviving company)

100,000

Collapse of Lehman
Brothers

20

50th anniversary of its founding
Entered under the umbrella of
Nissan zaibatsu and renamed

Nissan Chemical Industries

50,000

Expansion of theimports ofpetrochemical
products in JapanFounder TAKAMINE Jokichi (left)
Jinzo Hiryo advertisement from an agricultural magazine in 1891(right)Impact of the two oilcrises

Blooming of researchfindingsEntering thesemiconductor field

10⚫ T he changes in sales and operating margins for the Nissan Chemical on a non-consolidated basis from FY1950 to FY1976 and for the Nissan Chemical Group on a consolidated
basis from FY1977 to FY2022.
⚫  The figures for November and the following May or October and the following April are totaled so that the figures for the year are close to the March results.

Sales (left axis)⚫ Including effects of changes in accounting policies from FY2021.

01886

18961906

1916

Nissan Chemical Corporation

1926
9Integrated Report 2023

1936

1946

1956

1966

1976

1986
Nissan Chemical Corporation

1996
10

Operating margin (right axis)

2006

Integrated Report 2023

2016

0(FY)