Date: July 26, 2024

Summary of Consolidated Financial Statements
for the First Quarter Ended June 30, 2024 (IFRS Basis)
Listed company name:
Nitto Denko Corporation
Stock exchange listing: Tokyo Stock Exchange, Prime Market
Code Number:
6988
URL
https://www.nitto.com/
Company Representative: Hideo Takasaki, President
Contact Person:
Yasuhiro Iseyama, Senior Executive Vice President, Director of Corporate Accounting & Finance Division
Phone:+81-6-7632-2101
Estimated starting date of dividend paying:
Preparation of supplementary explanatory materials:
Holding of quarterly earnings release conference:Yes
Yes (for investment analysts and institutional investors)(All monetary values noted herein are rounded down to the nearest million yen)

1. Consolidated financial results for the three months ended June 30, 2024
(1) Operating results
OperatingprofitRevenue
Millionsof yenFor the three months ended
June 30, 2024
For the three months ended
June 30, 2023%

Millionsof yen(% of change from same period in the previous year)

Profit before
income taxes%

Millions

Net profit%

of yenMillionsof yen%Net profit
attributable toowners of theparent company

Total
comprehensive
incomeMillions

Millionsof yen%of yen%249,31019.6

50,696126.2

50,599128.2

36,145137.9

36,128138.2

70,88344.2

208,455(3.7)

22,411(41.8)

22,176(42.7)

15,191(42.6)

15,168(42.6)

49,140(19.7)

Basic earnings per share
For the three months ended
June 30, 2024
For the three months ended
June 30, 2023

Diluted earnings per share

Yen

Yen

257.27257.17105.52105.48(2) Financial position
Total assets

As of June 30, 2024
As of March 31, 2024

Millions of yen
1,304,340
1,251,087

Total equity
Millions of yen
1,022,558
985,048

Equity attributable to ownersof the parent company

Ratio of equity attributable toowners of the parent company
to total assets

Millions of yen
1,021,529
984,020

%
78.3
78.7

2. Dividends
Dividends per share
1Q

2Q

3Q

Year-end

Annual

Yen

Yen

Yen

Yen

Yen

March, 2024-

130.00-130.00260.00March, 2025

140.00

-

28.00

-

(Forecast)March, 2025

(Note) 1. Revision of dividend forecast in the current quarter: No
2. The Company resolved at a meeting of its Board of Directors on May 24, 2024, the stock split scheduled to be effective on
October 1, 2024 with a record date of September 30, 2024. Each share common stock will be split into five shares. The above
annual dividend per share forecast for the fiscal year ending March 31, 2025 is based on a number of shares taking into
account the stock split. The total annual dividend per share forecast for the fiscal year ending March 31, 2025 is not presented
because the total of the interim dividend and the year-end dividend cannot be calculated due to effect of the stock split.
Without taking the stock split into account, the year-end dividend per share forecast for the fiscal year ending March 31, 2025
would be 140 yen and the total annual dividend per share forecast for the fiscal year ending March 31, 2025 would be 280
yen.
3. Forecast for fiscal year ending March 31, 2025(% of change from same period in the previous year)
Revenue
Millionsof yenOperating profit%

Millionsof yen%Profit before
income taxes
Millionsof yenNet profit
attributable toowners of theparent company

Net profit%

Millions%of yenMillionsof yenBasic earnings
per share%

YenFirst half

523,000

16.4

112,000

73.7

111,900

74.2

80,00080.7

80,00080.9

113.93

Annual

982,000

7.3

180,000

29.4

180,000

29.6

130,000

26.5

130,000

26.6

185.14(Note) 1. Revision of consolidated forecast in the current quarter: Yes
2. The Company resolved at a meeting of its Board of Directors on May 24, 2024, the stock split scheduled to be effective on
October 1, 2024 with a record date of September 30, 2024. Each share common stock will be split into five shares. The above
basic earnings per share forecast for the fiscal year ending March 31, 2025 is based on the assumption that the stock split isconducted at the beginning of the fiscal year ending March 31, 2025. Without taking the stock split into account, the first half
basic earnings per share forecast for the fiscal year ending March 31, 2025 would be 569.67 yen and the annual basic
earnings per share forecast for the fiscal year ending March 31, 2025 would be 925.71 yen.
- Others(1) Significant changes in the scope of consolidation during the period: No(2) Changes in accounting policies applied and changes in accounting estimates
1. Changes in accounting policies required by IFRS: No
2. Changes in accounting policies other than the above: No
3. Changes in accounting estimates: No(3) Number of issued shares (Common stock)
1. Number of issued shares at the end of the period (including treasury shares)
As of June 30, 2024: 143,551,735
As of March 31, 2024: 143,551,735
2. Number of treasury shares at the end of the period
As of June 30, 2024: 3,199,585
As of March 31, 2024: 2,104,272
3. Average number of issued shares during the period (cumulative from the beginning of the period)
April-June 2024: 140,432,117
April-June 2023: 143,748,140

- Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants
or an audit firm: Yes (voluntary)- Explanations for adequate utilization of the forecast and other special matters
The forward-looking statements shown in this report, including the forecast, are prepared based on information available to theCompany and on certain assumptions deemed reasonable as of the issuing date of the report. Consequently, the statements herein
do not constitute promises regarding actual results by the Company. Actual results may differ materially from forecasted figuresdue to various unknown factors. For conditions regarding this forecast and precaution for use, please refer to “1. Overview ofoperating results, etc. (3) Explanation of forecasts and other projections” on page 6 of the Attachment to this summary of
consolidated financial results.

(Attached Documents)
Index
1. Overview of operating results, etc...........................................................................................................................................

2(1) Overview of operating results during the period...............................................................................................................

2(2) Overview of financial position during the period..............................................................................................................

6(3) Explanation of forecasts and other projections..................................................................................................................

6

2. Quarterly Consolidated Financial Statements and Key Notes................................................................................................

8(1) Quarterly consolidated statement of financial position.....................................................................................................

8(2) Quarterly consolidated statement of profit or loss and quarterly consolidated statement of comprehensive income.......

10(3) Quarterly consolidated statement of changes in equity.....................................................................................................

12(4) Quarterly consolidated statement of cash flows................................................................................................................

13(5) Notes on quarterly consolidated financial statements........................................................................................................

14(Notes on going concern assumption).........................................................................................................................

14(Notes on quarterly consolidated financial statements)...............................................................................................

14(Additional infomation)...............................................................................................................................................

15(Segment information).................................................................................................................................................

17(Notes on dividends)......................................................................................................................................................

19(Equity and other equity items)....................................................................................................................................

19(Revenue).....................................................................................................................................................................

20(Per share information).................................................................................................................................................

22(Significant subsequent events)...................................................................................................................................

22

-1-

1. Overview of operating results, etc(1) Overview of operating results during the period
During the first quarter of the fiscal year ending March 31, 2025 (April 1, 2024 through June 30, 2024), the economic
environment saw a change, as the European Central Bank (ECB) began to cut interest rates, reflecting the global monetary
tightening associated with inflation. In the United States, signs of a slowdown in consumer spending have begun to emerge, andin the equity markets, expectations for the Federal Reserve Board (FRB) to cut interest rates are increasing. In China, personal
consumption remained sluggish due to the prolonged real estate recession as well as further tightening in spending by the harsh
employment environment, especially among young people. In Japan, corporate capital investment remained strong in addition to
the strong business performance of export-oriented companies. On the other hand, the depreciation of the yen and theaccompanying rise in prices have reduced consumer spending, weighing on economic recovery. In the foreign exchange market,
the yen temporarily exceeded 160 yen to the dollar, a historic level of depreciation, as the timing of the start of interest rate cutsin the United States has not been fixed.
In the key markets of Nitto Group (the “Group”) under these circumstances, demand for our products increased due to higherthan-expected demand for high capacity Hard Disk Drives (HDDs) used in data centers and production being ahead of schedulein mobile devices and automotive displays.
The yen’s exchange rate against the U.S. dollar for the first quarter ended June 30, 2024 was 154.6 yen to the dollar, a 14.4%
depreciation of the yen compared with the same period of the previous year, and the effect of the weaker yen increased operating
profit by 11.3 billion yen.
As a result of the above, revenue increased by 19.6% from the same period of the previous year (changes hereafter are given incomparison with the same period of the previous year) to 249,310 million yen. Operating profit increased by 126.2% to 50,696
million yen, profit before income taxes increased by 128.2% to 50,599 million yen, net profit increased by 137.9% to 36,145
million yen, and net profit attributable to owners of the parent company increased by 138.2% to 36,128 million yen.
Summary of results by segment① Industrial Tape
In Functional Base Products, revenue increased from the same period of the previous year. Demand for assembly materials
used in high-end smartphones increased due to the expansion of models adopting these materials. Additionally, demand forprocess materials used in the production of semiconductor memories and ceramic capacitors continued its gradual recovery. In
automotive materials, demand for insulation materials used in hybrid vehicles increased.
As a result of the above, revenue increased by 10.5% to 89,150 million yen and operating profit increased by 53.8% to 11,470
million yen.
②

Optronics
In Information Fine Materials, revenue increased from the same period of the previous year. Demand for optical films andother peripheral materials increased, as the productions of Chinese high-end smartphones, Electric Vehicles (EV) and Plug-in
Hybrid Electric Vehicles (PHEV) remained strong. Demand for transparent conductive films (ITO) for tablets also increased.
In Circuit Materials, revenue increased from the same period of the previous year. The spread of generative AI has pushed up
the demand for storage used in data centers as well as for HDDs with higher capacity, and thus the demand for Circuit
Integrated Suspension (CIS) increased significantly. In addition, demand for high-precision circuits used in high-end
smartphones increased.
As a result of the above, revenue increased by 30.1% to 135,801 million yen and operating profit increased by 126.9% to45,444 million yen.

-2-

③

Human LifeIn Life Science, revenue increased from the same period of the previous year. In the oligonucleotide contract manufacturingbusiness, while the revenue continues to be strained by the deteriorating nucleic acid drug market, demand for nucleic acidTMsynthesis materials (NittoPhase ) increased. Additionally, preparation is underway at our new plant established in
Massachusetts, United States for production of projects that are expected to be commercialized at a future date. In nucleic aciddrug discovery, Phase 1 clinical trial of intractable cancer drug has been completed and the Group continues to work toward
out-licensing its pipeline.
In Membrane (high-polymer separation membrane), revenue did not reach the level of the same period of the previous year. In
addition to the strategic downsizing business for seawater desalination, demand for high-polymer separation membrane forvarious industrial applications decreased, mainly in China.
In Personal Care Materials, revenue increased from the same period of the previous year. Profitability improved as revenue of
new products in hygiene materials for diapers and environmentally friendly products using biodegradable technologies
expanded.
As a result of the above, revenue increased by 7.6% to 31,517 million yen and operating loss amounted to 3,185 million yen.
(operating loss of 2,937 million yen was reported in the same period of the previous year)④

OthersPlease note that this segment includes new products that have not generated sufficient revenue yet. Primarily, the Group is
conducting kits sales of flexible sensor to developers.
As a result of the above, revenue decreased by 69.4% to 1 million yen and operating loss amounted to 1,756 million yen.
(operating loss of 1,284 million yen was reported in the same period of the previous year)-3-

(Reference) Segment Information(Millions of yen)
For the three months ended
June 30, 2023

For the three months ended
June 30, 2024

Revenue
Industrial Tape

Optronics

Human Life

OthersAdjustment
Total

Revenue

Y-o-Y (%)

Revenue

80,69389,150110.5

Operating profit

7,457

11,470153.8

Information Fine Materials
Circuit Materials

86,645
17,718105,11130,689

121.3
173.2

Total

104,363

135,801

130.1

Operating profit

20,03245,444226.9

Life Science
Membrane

9,140
8,294

10,173
8,201

111.3
98.9

Personal Care Materials

11,843

13,141

111.0

Total

29,27831,517

107.6

Operating profit(2,937)(3,185)

-

3

1

30.6

Operating profit(1,284)(1,756)-

Revenue(5,884)(7,159)-

Revenue

Operating profit(856)(1,277)-

Revenue

208,455

249,310

119.6

Operating profit

22,411

50,696226.2-4-

(Reference) Segment Information (annual forecast)(Millions of yen)
Forecasts of fiscal year ending March 31, 2025
Revenue

Industrial Tape

Optronics

Human Life

OthersAdjustment
Total

Y-o-Y (%)

Revenue

369,500

104.9

Operating profit

50,500128.6

Information Fine Materials
Circuit Materials

368,500
124,000

100.9
118.6

Total

492,500

104.8

Operating profit

145,500

117.4

Life Science
Membrane

50,50031,500121.7
96.1

Personal Care Materials

57,000

113.5

Total

139,000

111.6

Operating profit

(500)

-

-

-

Operating profit(7,500)-

Revenue(19,000)-

Revenue

Operating profit(8,000)-

Revenue

982,000

107.3

Operating profit

180,000

129.4

-5-

(2) Overview of financial position during the period
The Group’s financial position at the end of the first quarter of the fiscal year ending March 31, 2025 was as follows.
Compared with the end of the fiscal year ended March 31, 2024, total assets increased by 53,252 million yen to 1,304,340
million yen and total liabilities increased by 15,742 million yen to 281,781 million yen. Total equity increased by 37,509 million
yen to 1,022,558 million yen. This was mainly due to a 17,740 million yen increase in retained earnings, a 15,014 million yen
increase in treasury shares and a 34,783 million yen increase in other components of equity from the end of the fiscal year ended
March 31, 2024. As a result, the ratio of equity attributable to owners of the parent company to total assets changed from 78.7%
at the end of the fiscal year ended March 31, 2024 to 78.3% at the end of the first quarter of the fiscal year ending March 31,
2025.
The main changes in assets were a decrease in cash and cash equivalents of 26,487 million yen, an increase in trade and otherreceivables of 23,999 million yen, an increase in inventories of 9,131 million yen, an increase in other financial assets 3,242
million yen, an increase in other current assets of 10,901 million yen, an increase in property, plant and equipment of 20,825
million yen, an increase in right-of-use assets of 1,141 million yen, an increase in goodwill of 3,777 million yen, an increase ininvestments accounted for using equity method of 6,253 million yen, an increase in financial assets of 1,182 million yen. In termsof liabilities, trade and other payables increased by 7,182 million yen, income tax payables increased by 3,133 million yen, othercurrent financial liabilities increased by 2,462 million yen, other current liabilities increased by 2,685 million yen.
(3) Explanation of forecasts and other projections
In the business environment surrounding the Group, revenue is expected to be boosted due to an increase in demand for CIS usedin data centers and a weaker-than-expected yen exchange rate.
Given the financial results of the period under review and the circumstances described above, the full-year forecasts for the fiscal
year ending March 31, 2025, were revised.
Revision of consolidated forecasts for the six months ending September 30, 2024 (April 1, 2024 through September 30, 2024)
Revenue

OperatingprofitProfit before
income taxes

Net profit

Millions of yen Millions of yen Millions of yen Millions of yen

Net profit
Basic earnings
attributable to owners
per shareof the parent company

Millions of yen

Yen

Previous forecast (A)448,000

68,50068,50048,00048,00068.36

Revised forecast (B)523,000

112,000

111,900

80,00080,000113.93Difference (B) – (A)75,00043,50043,40032,00032,000-Rate of change (%)

16.7

63.5

63.4

66.7

66.7

-

449,344

64,47264,24044,264

44,216

61.78(Reference)
Consolidated financial
results for the six months
ended September 30, 2023

-6-

Revision of consolidated forecasts for the fiscal year ending March 31, 2025 (April 1, 2024 through March 31, 2025)
Revenue

OperatingprofitProfit before
income taxes

Net profit

Millions of yen Millions of yen Millions of yen Millions of yen

Net profit
Basic earnings
attributable to owners
per shareof the parent company

Millions of yen

Yen

Previous forecast (A)910,000

140,000

140,000

100,000

100,000

142.42

Revised forecast (B)982,000

180,000

180,000

130,000

130,000

185.14

Difference (B) – (A)72,00040,00040,00030,00030,000-Rate of change (%)

7.9

28.6

28.6

30.0

30.0

-

(Reference)
Consolidated financial
915,139
139,132
138,901
102,755
102,679
143.91
results for the fiscal year
ended March 31, 2024
(Note) 1. The above results and forecasts are forward-looking statements determined by the Company based on currently available

information that may include risks and uncertainties. Please be aware that actual results may vary significantly due tovarious factors.
2. The Company resolved at a meeting of its Board of Directors on May 24, 2024, the stock split scheduled to be effective on
October 1, 2024 with a record date of September 30, 2024. Each share common stock will be split into five shares. The above
basic earnings per share forecast for the six months ending September 30, 2024 and for the fiscal year ending March 31,
2025 are based on the assumption that the stock split is conducted at the beginning of the fiscal year ending March 31, 2025.
Without taking the stock split into account, the first half basic earnings per share forecast for the fiscal year ending March 31,
2025 would be 569.67 yen and the annual basic earnings per share forecast for the fiscal year ending March 31, 2025 would
be 925.71 yen.

-7-

2. Quarterly Consolidated Financial Statements and Key Notes(1) Quarterly consolidated statement of financial position(Millions of yen)
As of March 31, 2024

As of June 30, 2024

AssetsCurrent assets
Cash and cash equivalents

342,269

315,782

Trade and other receivables

209,341

233,340

Inventories
Other financial assets

136,804
5,220

145,936
8,462

Other current assets

24,32135,223

Total current assets

717,957

738,745

Property, plant and equipment
Right-of-use assets

378,535
19,321

399,360
20,462

Goodwill
Intangible assets

66,056
20,674

69,833
20,796

Investments accounted for using equity method

2,115

8,369

Financial assets
Deferred tax assets

9,192
20,985

10,374
20,196

Other noncurrent assets

16,248

16,200Noncurrent assets

Total noncurrent assets
Total assets-8-533,130

565,5941,251,087

1,304,340

(Millions of yen)
As of March 31, 2024

As of June 30, 2024

Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

98,965

106,148

345

338

Income tax payables
Other financial liabilities

13,40238,396

16,53540,859Other current liabilities

55,74658,431

Total current liabilities

206,856

222,314

Other financial liabilities
Defined benefit liabilities

20,84333,13020,63333,649Deferred tax liabilities
Other noncurrent liabilities

3,427
1,779

3,424
1,759

Total noncurrent liabilities

59,182

59,467

266,038

281,781

26,783

26,783

Borrowings

Noncurrent liabilities

Total liabilities
EquityEquity attributable to owners of the parent company
Share capital
Capital surplus

49,92849,928Retained earnings
Treasury shares
Other components of equity

808,062(23,298)
122,544825,802(38,312)
157,327

Total equity attributable to owners of the parent
company

984,020

1,021,529

1,028

1,028

985,048

1,022,558

1,251,087

1,304,340

Noncontrolling interests
Total equity
Total liabilities and equity-9-(2) Quarterly consolidated statement of profit or loss and Quarterly consolidated statement of comprehensive income(Quarterly consolidated statement of profit or loss)(Millions of yen)
For the three month ended
June 30, 2023

For the three month ended
June 30, 2024

Revenue
Cost of sales

208,455
142,362

249,310
150,849

Gross profit

66,093

98,460

Selling, general and administrative expenses

35,77837,194

Research and development expenses
Other income

10,864
4,841

11,123
2,806

Other expenses

1,880

2,251

Operating profit

22,411

50,696

Finance income

424
665

728
709

5

(115)

Profit before income taxes

22,17650,599

Income tax expenses

6,985

14,454

Net profit

15,19136,145

Net profit attributable to:
Owners of the parent company

15,16836,128Finance expenses
Share of profit of investments accounted forusing the equity method

Noncontrolling interests22

17

15,19136,145

Basic earnings per share (Yen)

105.52257.27

Diluted earnings per share (Yen)

105.48257.17

Total
Earnings per share attributable to owners of the parent company- 10 -

(Quarterly consolidated statement of comprehensive income)(Millions of yen)
For the three months ended
June 30, 2023
Net profit

For the three months ended
June 30, 2024

15,19136,14511(6)33,88834,539

0

(0)

49

204

Total other comprehensive income

33,94934,737

Total comprehensive income

49,14070,883

Owners of the parent company
Noncontrolling interests

49,11624

70,862
20

Total

49,14070,883

Other comprehensive income
Items that will not be reclassified to profit or loss
Net changes on financial assets measured at fair value
through other comprehensive income
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign
operations
Net changes in fair value of cash flow hedges
Share of other comprehensive income of investments
accounted for using equity method

Total comprehensive income attributable to:- 11 -

(3) Quarterly consolidated statement of changes in equity
For the three months ended June 30, 2023
(Millions of yen)
Equity attributable to owners of the parent company
Noncontrolling Total equity
interests

SharecapitalCapitalsurplusRetainedearnings

TreasurysharesOther
componentsof equity

Total

26,78350,047786,269(27,631)

66,741

902,211983

903,194

Net profit--

15,168--15,16822

15,191Other comprehensive
income----33,94733,947

1

33,949Total comprehensive
income--15,168-33,947

49,11624

49,140Share based
remunerationtransactions

-

(47)

-

-

48

1

-

1

Dividends--(17,510)--(17,510)(28)(17,538)

Changes in treasury
shares-(3)-(28,064)-(28,068)-(28,068)

Total transactions withowners-(51)(17,510)(28,064)48(45,577)(28)(45,605)

Balance as of June 30,
2023

26,78349,996783,928(55,696)

100,738

905,750979

906,729

Balance as of April 1,
2023

For the three months ended June 30, 2024
(Millions of yen)
Equity attributable to owners of the parent company
Noncontrolling Total equity
interests

SharecapitalCapitalsurplusRetainedearnings

TreasurysharesOther
componentsof equity

Total

26,78349,928808,062(23,298)

122,544984,020

1,028

985,048

Net profit--

36,128--36,12817

36,145

Other comprehensive
income----34,73334,733

3

34,737

Total comprehensive
income--36,128-34,73370,862

20

70,883

Share based
remunerationtransactions

-

-

-

-

49

49

-

49

Dividends--(18,388)--(18,388)(20)(18,408)

Changes in treasury
shares---(15,014)-(15,014)-(15,014)

Total transactions withowners--(18,388)(15,014)49(33,352)(20)(33,373)

Balance as of June 30,
2024

26,78349,928825,802(38,312)

157,327

1,021,529

1,028

1,022,558

Balance as of April 1,
2024- 12 -

(4) Quarterly consolidated statement of cash flows(Millions of yen)
For the three months ended
June 30, 2023

For the three months ended
June 30, 2024

Cash flows from operating activities
Profit before income taxes
Depreciation and amortization
Impairment losses
Increase (decrease) in defined benefit liabilities
Decrease (increase) in trade and other receivables
Decrease (increase) in inventories
Increase (decrease) in trade and other payables
Increase (decrease) in advances received
Interest and dividend income
Interest expenses paid

22,176
14,801

50,59915,839

47
382

29
515

(11,099)
2,449
4,690

(14,612)(4,009)
5,622

1,192
320

2,137
619

(124)

(151)

Income taxes (paid) refunded
Others(18,666)(4,599)(10,872)(14,157)

Net cash provided by (used in) operating activities

11,56931,559(16,785)(22,662)

Proceeds from sale of property, plant and equipment
and intangible assets

20

69

Decrease (increase) in time deposits
Purchase of investment securities
Purchase of shares of subsidiaries and affiliates

33
(32)
-

(2,928)(343)(6,256)

1,871-

Cash flows from investing activities
Purchase of property, plant and equipment andintangible assets

Proceeds from sale of shares of subsidiaries resulting
in change in scope of consolidation
Others0(7)(14,892)(32,130)

(17)

(6)

Repayment of lease liabilities
Decrease (increase) in treasury shares
Cash dividends paid
Others(2,032)(28,115)(17,510)(33)(2,074)(15,014)(18,388)(28)

Net cash provided by (used in) financing activities(47,708)(35,511)

Effect of exchange rate changes on cash and cash
equivalents

7,466

9,595

Reclassification of cash and cash equivalents included in
assets held for sale in the opening balance

1,920

-

Net increase (decrease) in cash and cash equivalents(41,645)(26,487)

Cash and cash equivalents at the beginning of the period

329,966

342,269

Cash and cash equivalents at the end of the period

288,321315,782

Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings- 13 -

(5) Notes on quarterly consolidated financial statements(Notes on going concern assumption)
Not applicable.
(Notes on quarterly consolidated financial statements)
1. Reporting entity
Nitto Denko Corporation (the “Company”) is a corporation domiciled in Japan. The quarterly consolidated financial statements
above comprise the Company and its subsidiaries (the “Group”) and the Group’s affiliates. The Group is engaged mainly in the“Industrial Tape business,” the “Optronics business,” the “Human Life business,” and “Others” (related businesses with a broad
range of products). See “Segment information,” for details.
2. Basis of preparation(1) Accounting standards compliance
The Group’s quarterly consolidated financial statements, which meet the requirements of a “specified company complying
with any designated international accounting standards” defined in Article 1-2 of the Regulation on Consolidated Financial
Statements, have been prepared in accordance with IAS 34 as prescribed in Article 312 of the Regulation on Consolidated
Financial Statements. The quarterly consolidated financial statements should be read in conjunction with the Group’s
consolidated financial statements for the fiscal year ended March 31, 2024, since the quarterly consolidated financial
statements do not include all the information required in the annual consolidated financial statements.
(2) Presentation currency and units
The quarterly consolidated financial statements are presented in Japanese yen and figures less than a million yen are rounded
down to the nearest million yen.
(3) Significant accounting estimates and judgments
When preparing the quarterly consolidated financial statements, management makes judgments, estimates, and assumptions
that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual
results may vary from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis, and the effectof revised accounting estimates is recognized in the current and future accounting periods.
The quarterly consolidated financial statements are prepared based on the same judgments, estimations and assumptions as
those applied and described in the Group’s consolidated financial statements for the fiscal year ended March 31, 2024
(4) Approval of the quarterly consolidated financial statements
The quarterly consolidated financial statements were approved by Hideo Takasaki, President, and Yasuhiro Iseyama, CFO on
July 26, 2024.
3. Material accounting policies
Material accounting policies implemented in the quarterly consolidated financial statements are the same as the accounting
policies implemented in the Group’s consolidated financial statements for the fiscal year ended March 31, 2024.

- 14 -

(Additional information)(Stock split, partial amendment of articles of incorporation)
The Company resolved at a meeting of its Board of Directors on May 24, 2024, the stock split and partial amendment to the articles
of incorporation.
1. Stock split(1) Purpose of the stock split
The purpose is to lower the stock price per investment unit through the stock split, thereby creating more accessible investment
environment for investors, and to expand the investor base and improve the liquidity of the Company’s stock.
(2) Overview of stock split①Method of the stock split
Each share of common stock owned by shareholders listed or recorded in the closing shareholder register on the record date of
September 30, 2024, will be split into five shares.
②Number of shares to be increased by the stock split
Total number of issued shares before the stock split

143,551,735 shares

Number of shares to be increased by the stock split

574,206,940 shares

Total number of issued shares after the stock split

717,758,675 shares

Total number of authorized shares after the stock split

2,000,000,000 shares(Note) The above total number of issued shares and number of shares to be increased are based on the total number of issued
shares and outstanding as of June 30, 2024, and may change due to the exercise of stock acquisition rights to shares andcancellation of treasury shares between June 30, 2024, and the record date for the stock split.
③Schedule for the stock split
Public notice of record date (scheduled)

September 10, 2024

Record date

September 30, 2024

Effective date

October 1, 2024

2. Impact on per share information
Per share information for the previous and current fiscal years, assuming that the stock split had been conducted at the beginningof the previous fiscal year, is as follows.

For the three months ended
June 30, 2023

For the three months ended
June 30, 2024

718,740,700

702,160,585

Basic earnings per share (Yen)

21.10

51.45

Diluted earnings per share (Yen)

21.10

51.43

Average number of issued shares
during the period (excluding treasury shares) (Shares)- 15 -

3. Partial amendment to the articles of incorporation(1) Reason for the amendment
In connection with the stock split, the Company will amend the total number of authorized shares described in Article 6 of theCompany’s articles of incorporation, effective as of October 1, 2024, pursuant to Article 184, Paragraph 2 of the Companies
Act of Japan.
(2) Details of the amendment
Details of the amendment are as follows. (Underlined parts indicate the amendment.)
Current articles on incorporation

Articles on incorporation after the amendment

Article 6. (Total number of authorized shares)

Article 6. (Total number of authorized shares)

The total number of shares authorized to be issued
by the Company shall be 400,000,000 shares.

The total number of shares authorized to be issued
by the Company shall be 2,000,000,000 shares.

(3) Schedule for the amendment
Date of resolution of the Board of Directions

May 24, 2024

Effective date

October 1, 2024

4. Others
As the effective date of this stock split is October 1, 2024, the interim dividend for the fiscal year ending March 31, 2025, will be
paid based on the number of shares before the stock split.
(Cancellation of treasury shares)
The Company resolved at the Board of Directors meeting held on June 21, 2024, to cancel a part of its treasury shares, inaccordance with the basic policy on the holding and cancellation of its treasury shares, pursuant to the provisions of Article 178 of
the Japanese Companies Act, as follows.
1. Details on the cancellation of the treasury shares(1) Class of shares to be cancelled: Common shares of the Company(2) Number of shares to be cancelled: 2,199,585 shares(Ratio to the number of issued shares before cancellation: 1.5%)(3) Cancellation date: July 16, 2024
2. Basic Policy on the Holding and Cancellation of Treasury Shares
The number of treasury shares held by the Company increased due to the repurchase under the provisions of the Article 165 of
the Japanese Companies Act conducted from February to May 2024. Therefore, we will cancel a part of the treasury shares basedon our basic policy regarding holding and cancellation of treasury shares: “The Company’s treasury shares that have been
repurchased will continue to be held on the condition that their specific uses have been clearly defined (e.g., remuneration for
Directors), and cancellation will be considered for any shares exceeding the required amount.”- 16 -

(Segment information)(1) Outline of reportable segments
Reportable segments of the Group are determined as segments whose separate financial information is available among theconstituent units of the Group and which are regularly used by the Board of Directors, the chief operating decision maker, todetermine the allocation of management resources and to evaluate their business results.
The Group has divisions by product, and each division develops comprehensive domestic and overseas strategies for its products
and conducts business activities.
The Group’s segments are based on three product divisions, and its three reportable segments are the Industrial Tape segment
the Optronics segment and the Human Life segment. Each reportable segment is grouped into one operating segment based on
similarities in products, markets, and other aspects.
Intersegment revenue is based on prevailing market prices.
Major products for each segment
Operating segment

Major products or businessIndustrial Tape

Functional Base Products (bonding and joining products, protective materials,
processing materials, automotive products, etc.)

Optronics

Information Fine Materials (optical films, etc.), Circuits Materials (CIS (Circuit Integrated
Suspension), high-precision circuits, etc.)

Human Life

Life Science (oligonucleotide contract manufacturing business, nucleic acid synthesis
materials, nucleic acid drug discovery, medical products, etc.), Membrane (high-polymer
separation membrane), Personal Care Materials (functional film for hygienic materials,
etc.)

OthersNew Business, Other Products- 17 -

(2) Information regarding revenue, profit or loss by segments
Segment information regarding the Group’s reportable segments is as follows.
For the three months ended June 30, 2023
(Millions of yen)
Reportable segments
Industrial
Tape
Revenue from externalcustomers
Intersegment revenue

79,508

Optronics Human Life
101,115

27,568

Total

Others

208,192

Total

3

Figures in
consolidated
Adjustment
statement ofincome208,196259

208,455

1,184

3,248

1,710

6,143

-

6,143

(6,143)-

Total segment revenue

80,693

104,363

29,278214,3363

214,340(5,884)208,455

Operating profit (loss)

7,457

20,032(2,937)24,552(1,284)23,268(856)

22,411

Finance income

424
(665)

Finance expenses
Share of profit ofinvestments accounted forusing the equity method

5

Profit before income taxes

22,176(Note) 1. Others is an operating segment that is not included in the reportable segments and consists of New Business.
2. Adjustment of operating profit (loss) in the amount of (856) million yen includes other incomes (losses) not allocated to eachsegment.
For the three months ended June 30, 2024
(Millions of yen)
Reportable segments
Industrial
Tape
Revenue from externalcustomers
Intersegment revenue

87,918

Optronics Human Life
131,833

29,283

Total
249,034

OthersTotal

1

Figures in
consolidated
Adjustment
statement ofincome249,036274

249,310

1,231

3,968

2,234

7,433

-

7,433

(7,433)-

Total segment revenue

89,150135,801

31,517

256,4681

256,469(7,159)249,310

Operating profit (loss)

11,47045,444(3,185)53,730(1,756)

51,973(1,277)50,696

Finance income

728

Finance expenses
Share of profit ofinvestments accounted forusing the equity method(709)

Profit before income taxes

50,599(115)(Note) 1. Others is an operating segment that is not included in the reportable segments and consists of New Business.
2. Adjustment of operating profit (loss) in the amount of (1,277) million yen includes other incomes (losses) not allocated toeach segment.

- 18 -

(Notes on dividends)
For the three months ended June 30, 2023
Resolution
June 23, 2023
Ordinary General Meetingof Shareholders

Type of shares

Commonstock

Cash dividends
Dividends(Millions of yen) per share (Yen)

17,510Effective date

Source ofdividends

120 March 31, 2023 June 26, 2023

Retainedearnings

Record date

For the three months ended June 30, 2024
Resolution
June 21, 2024
Ordinary General Meetingof Shareholders

Type of shares

Commonstock

Cash dividends
Dividends(Millions of yen) per share (Yen)

18,388

Effective date

Source ofdividends

130 March 31, 2024 June 24, 2024

Retainedearnings

Record date(Equity and other equity items)(Repurchase of treasury shares)
Pursuant to the resolution at the Board of Directors meeting on January 26, 2024, the Company has acquired its treasury shares.
According to this repurchase, treasury shares increased by 1,095 thousand and 15,014 million yen in the first quarter of the fiscal
year ending March 31, 2025. As a result, the number of treasury shares at the end of the first quarter of the fiscal year ending March
31, 2025, was 3,199 thousand, and the book balance was 38,312 million yen.

- 19 -

(Revenue)
As described in (Segment information), the Group has three reportable segments which are the Industrial Tape segment the
Optronics segment and the Human Life segment. The relationship between the disaggregated revenues and the revenues fromexternal customers in each reportable segment is as follows.

For the three months ended June 30, 2023
(Millions of yen)Segment name
Industrial Tape

Optronics

Major products or business

Japan

Asia/
Oceania

Total

26,129

8,675

8,815

35,88779,508

Information Fine Materials

3,946

-

-

79,72883,674Circuits Materials

7,492

-

-

9,948

17,44011,438--89,676

101,115

Life Science

905

7,134

0

-

8,039

Membrane

624

3,893

1,099

2,163

7,781

-

1,154

10,488104

11,747

1,529

12,182

11,5882,268

27,568

0

3

-

-

3

259

-

-

-

259

39,35820,86020,404

127,832

208,455

Personal Care Materials
Total

OthersEuropeFunctional Base Products

Total

Human Life

Americas

New Business, Other Products

Adjustment
Total

Revenue by region is based on the location of each base, and the main countries and regions included in the classification
other than Japan are as follows.
Americas: United States, Mexico, Brazil
Europe: Belgium, France, Germany, Sweden, Turkey
Asia/Oceania: China, Korea, Taiwan, Singapore, Malaysia, Hong Kong, Thailand, Vietnam- 20 -

For the three months ended June 30, 2024
(Millions of yen)Segment name
Industrial Tape

Optronics

Major products or business

Japan

Asia/
Oceania

Total

25,706

9,019

9,066

44,12587,918

Information Fine Materials

6,995

-

-

94,694

101,689

Circuits Materials

13,491--

16,65230,143

20,486--111,346

131,833

Life Science

882

8,159

-

-

9,041

Membrane

598

3,807

1,333

1,454

7,194

-

984

11,97685

13,047

1,480

12,952

13,3101,540

29,283

-

1

-

-

1

274

-

-

-

274

47,947

21,973

22,377

157,012249,310

Personal Care Materials
Total

OthersEuropeFunctional Base Products

Total

Human Life

Americas

New Business, Other Products

Adjustment
Total

Revenue by region is based on the location of each base, and the main countries and regions included in the classification
other than Japan are as follows.
Americas: United States, Mexico, Brazil
Europe: Belgium, France, Germany, Sweden, Turkey
Asia/Oceania: China, Korea, Taiwan, Singapore, Malaysia, Hong Kong, Thailand, Vietnam- 21 -

(Per share information)
Basic earnings per share, diluted earnings per share and basis for calculations are as follows.
For the three months ended
June 30, 2023
(1) Basic earnings per share

For the three months ended
June 30, 2024

105.52 yen

257.27 yen

15,16836,128

143,748

140,432

105.48 yen

257.17 yen

53

50

Basis for calculation
Net profit attributable to ownersof the parent company(Millions of yen)
Average number of common shares(Thousands of shares)(2) Diluted earnings per share
Basis for calculation
Increase in the number ofcommon stock upon exercise of
the stock options(Thousands of shares)(Significant subsequent events)
Not applicable.

- 22 -