(Reference Translation)
May 09, 2017OSAKA SODA CO., LTD.
CONSOLIDATED FINANCIAL RESULTS
For the Fiscal Year Ended March 31, 2017
(Prepared under Japan GAAP, unaudited)

Company name:OSAKA SODA CO.,LTD

Stock Exchange Listing:Tokyo

Securities code:

4046

URL: http://www.osaka-soda.co.jp

Representative:

Tamotsu Sato, Representative Director, Chief Executive Officer

For inquiry:

Takuya Kajino, General Manager, Administration Division(Telephone: +81-6-6110-1560)

Scheduled date of general shareholders meeting:June 29, 2017

Scheduled date of commencement of dividend payment:

June 12, 2017

Scheduled date of filing of securities report:

June 30, 2017

Supplementary materials prepared for the financial results:

Yes

Annual financial results briefings:

Yes

1. Consolidated Financial Results(Amounts are rounded down to the nearest million yen)

(1) Results of Operations
Year ended
March 31, 2017

March 31, 2016

Change *Change *Net sales

Millions of yen

93,509(8.4)%

102,125

0.7%

Operating income

Millions of yen

6,586

2.2%

6,443

24.6%

Ordinary income

Millions of yen

6,536

1.5%

6,439

12.0%

Net income attributable to owners of parent

Millions of yen

4,320

19.8%

3,606

4.5%

Comprehensive income

Millions of yen

5,485

262.8%

1,512(78.0)%Net income per share

Yen

41.01

-

34.23

-

Diluted net income per share

Yen

34.02

-

28.43

-

Return on equity

%

8.6

-

7.5

-

Return on total assets

%

6.6

-

6.5

-

Operating income ratio

%

7.0

-

6.3

-

Note: Percent changes are year-on-year comparisons(2)Financial Condition
As of March 31, 2017

As of March 31, 2016

Total assets

Millions of yen

101,503

97,027

Net assets

Millions of yen

52,72548,296Equity *Millions of yen

52,72548,296

%

51.9

49.8

Yen

500.50458.43Equity ratio
Net assets per share(Yen)

Note: Equity = “Total net assets” minus “Subscription rights to shares”

1

(3)Cash Flows
Year ended
March 31, 2017

March 31, 2016

Cash flows from operating activities

Millions of yen

8,490

5,031

Cash flows from investing activities

Millions of yen(3,145)(2,535)

Cash flows from financing activities

Millions of yen(3,506)(3,433)

Cash and cash equivalents at end of year

Millions of yen

20,532

19,036

2. Dividends
Year ending

Year ended

Year ended

March 31, 2018

March 31, 2017

March 31, 2016

(Forecast)End of first quarter

Yen

-

-

End of second quarter

Yen

5.50

5.00

End of third quarter

Yen

-

-

End of fourth quarter

Yen

5.50

6.00

5.00*

Full year

Yen

11.00

11.00

10.00

-

1,158

1,053

5.00*

Payment of dividends

Millions of yen

Dividend payout ratio

%

25.2

26.8

29.2

Ratio of dividend to net assets

%

-

2.3

2.2

Note: Osaka Soda Co., Ltd., on October 1st, 2017 which is the effective date, is scheduled to execute theshare consolidation of its common shares at a ratio of 1-for 5. The dividends per share forecast for yearending March 31, 2018 is calculating based on the number of shares prior to the share consolidation.
For further details on the share consolidation, refer to the notice regarding “Changes in the Number of
Shares per Share Unit, Share Consolidation, and Partial Amendment to the Articles of Incorporation”
announced today.
3. Earnings Forecast for the fiscal year ending March 31, 2018
End of second quarter

Full-year

Change*Change*Net sales

Millions of yen

47,0000.2%

100,000

6.9%

Operating income

Millions of yen

3,300(4.6)%

7,000

6.3%

Ordinary income

Millions of yen

3,300

19.2%

7,000

7.1%

Net income

Millions of yen

2,200

19.0%

4,600

6.5%

Yen

19.93

-

43.37

-

Earnings per share

Note: Percent changes are year-on-year comparisons.

2* Notes(1) Changes in significant subsidiaries during the period (Changes in specified subsidiaries resulting in thechange in scope of consolidation):

None(2) Changes in accounting policies, accounting estimates and restatements of revisions
1) Changes in accounting policies due to revisions of accounting standards, etc.:
2) Changes in accounting policies other than 1):
3) Changes in accounting estimates:
4) Restatement of revisions:

None

None

None

None

(3) Number of outstanding shares (common stock)1) Number of shares outstanding at the end of the period (including treasury shares)
As of March 31, 2017:

111,771,671

Shares

As of March 31, 2016:

111,771,671

Shares

As of March 31, 2017:

6,428,225

Shares

As of March 31, 2016:

6,419,632

Shares2) Number of treasury shares at the end of period

3) Average number of shares outstanding in each period
Year ended March 31, 2017:

105,348,625

SharesYear ended March 31, 2016:

105,356,370

Shares* Status of audit procedure:This financial results are not subject to the audit procedure in accordance with the Financial Instruments
and Exchange Act. The audit procedure of consolidated financial statements has not been completed at thetime of disclosure.

*Appropriate use of financial forecasts, other special notes
This material contains forward-looking statements such as earnings forecast about OSAKA SODA CO., LTD.
and its group companies (“Osaka Soda Group”). These forward-looking statements are based on the current
assumptions and beliefs of Osaka Soda Group in light of the information currently available to it, and containknown and unknown risks, uncertainties and other factors. Osaka Soda Group therefore wishes to caution
readers that actual results could be materially different from any future results.

DISCLAIMER:

This is an English translation of the original Japanese document and is prepared for reference. Should there
be any inconsistency between the translation and the Japanese original, the latter shall prevail.

3

4. Results of Operations and Financial Condition(1) Results of Operations
During the fiscal year ended March 31, 2017, Japan’s economy has continued to recover moderately as atrend, against the background of improvement in the employment and income situation, although the outlook
remains uncertain due to the slowdown in Asia’s emerging countries including China, sharp volatility in foreign
currency exchange and concerns over protectionism on a global scale as a result of US presidential elections.
Under the circumstance, net sales were ¥93,509 million, a decrease of 8.4% due to unit price down by negative
currency effects despite continued steady shipment of products and structural reforms to improve profitabilityin “Housing Facilities and Others”. Operating income was ¥6,586 million, an increase of 2.2% compared to thesame period of fiscal 2015. Ordinary income was ¥6,536 million, an increase of 1.5% compared to the same
period of fiscal 2015. Net income attributable to owners of the parent was ¥4,320 million, an increase of 19.8%
compared to the same period of fiscal 2015. All three levels of profitability posted record high for the second
consecutive year.
Osaka Soda Group has built the profitable structure that cannot be easily affected by environmental changes,
strengthening competitiveness by cost down in Chlor-Alkali and Epichlorohydrin, expanding high value added
business centering on Functional Chemical Products such as health-care related business and synthetic resin
and rubber, and implementing structural reforms to enhance competitiveness. Accordingly, the net sales
decreased but the operating income increased in comparison to the same period of fiscal 2015.
Basic Chemical Products
In Chlor-Alkali, net sales decreased due to the effect of market conditions despite continued steady volume
increase.
In Epichlorohydrin, net sales decreased due to a decline in domestic demand and weak market conditions
despite continued steady export sales.
As a result, net sales were ¥41,783 million, a decrease of 1.9% compared to the same period of fiscal 2015.
Functional Chemical Products
In Separation Media in Pharmaceutical Industry (Silica Gel for Liquid Chromatography), net sales increased
due to continued steady sales to Europe and China in biomedical application as well as an increase in domestic
sales for analysis and purification of active pharmaceutical ingredients.
In Active Pharmaceutical Ingredients and their Intermediates, net sales increased due to continued steadysales in “Antiviral Drug”, “Anti-Insomnia Drug”, “Agent for Anti-immune Disease”, and new active
pharmaceutical ingredients .
In Diallyl Phthalate Resin, net sales decreased due to a decline in unit price by strong yen despite volume
increase reflecting an increase in domestic sales as well as sales to new customers using UV printing inks in
Europe and America.
In Allyl Ethers, net sales decreased due to a decline in unit price by strong yen despite volume increasereflecting an increase in application for silane coupling agents.
In Epichlorhydrin Rubber and related businesses, net sales decreased due to a decline in unit price by strong
yen despite volume increase reflecting a steady export sales to China and India.
As a result, net sales were ¥36,338 million, a decrease of 4.0% compared to the same period of fiscal 2015.
Housing Facilities and Others
Net sales were ¥15,387 million, an increase of 29.0% compared to the same period of fiscal 2015.

4

(2) Financial Condition
AssetsCurrent assets were ¥58,739 million, an increase of 2.8% since March 31, 2016. The increase was due
primarily to an increase of ¥2,500 million in short term investment securities, a decrease of ¥1,004 million in
cash and deposits.
Noncurrent assets were ¥42,764 million, an increase of 7.2% since March 31, 2016. The increase was due
primarily to an increase of ¥1,198 million in property, plant, and equipment, an increase of ¥1,773 million in
investment securities.
As a result, Total assets were ¥101,503 million, an increase of 4.6% since March 31, 2016.
Liabilities
Current liabilities were ¥31,390 million, an increase of 2.4% since March 31, 2016. The decrease was due
primarily to an increase of ¥346 million in notes and accounts payable-trade.
Noncurrent liabilities were ¥17,387 million, a decrease of 3.7% since March 31, 2016. The decrease wasdue primarily to a decrease of ¥2,160 million in long term loan payable.
As a result, Total liabilities were ¥48,778 million, an increase of 0.1% since March 31, 2016.
Net assets
Net assets were ¥52,725 million, an increase of 9.2% since March 31, 2016.
(3) Cash flow
Cash and cash equivalents at the end of fiscal year were ¥20,532million, an increase of ¥1,496 million
compared to the previous fiscal period.
Cash flows from operating activities
Net cash provided by operating activities amounted to ¥8,490 million, due primarily to ¥5,953 million in income
before income taxes and ¥2,923 million in depreciation.
Cash flows from investing activities
Net cash used in investing activities amounted to ¥3,145million, due primarily to cash outflows of ¥2,038 million
in purchase of property, plant, and equipment.
Cash flows from financing activities
Net cash used in financing activities amounted to ¥3,506 million, due primarily to repayment of ¥2,440 million
in repayments of long term loan payable and cash dividends paid of ¥1,052 million.
(4) Outlook
With regard to the economic outlook, Japan’s economy is expected to continue delivering solid growth against
the background of improvement of employment and income situation. However, downside risks still dominate
global economic prospects due to the possible change in the political and economic framework that areassociated with nationalist pressures. There appeared to be that the nation as being more divided than united
in some countries.
Osaka Soda Group regards this movement as a turning point, aims to strengthen the profitability in order toimplement the business strategies aggressively. To achieve this, Osaka Soda Group focuses on launching
new products, expanding global sales, and accelerating healthcare business expansion. Osaka Soda Groupalso needs to evolve more profitable group, developing its high value-added products and creating new
products and new fields for next generation on the back of completion of new R&D building in October 2017.
Basic Chemical Products
Osaka Soda Group focuses on developing an efficient production system taking introduction of cutting-edge
technology including “Internet of Things” into consideration to enhance more competitiveness in product quality
and cost reduction.

5

In Chlor-Alkali products, Osaka Soda Group works on sales price adjustments reflecting price changes in fueland raw materials and boosts competitiveness increasing efficiency in electrolysis.
In Allyl Chloride and Epichlorohydrin which is the raw materials of derivative products, Osaka Soda Group
works improvement of production efficiency and sales expansion both within and outside the country.
Functional Chemical Products
In Epichlorhydrin Rubber, Diallyl Phthalate Resin, and Allyl Ethers which are our primary products, Osaka
Soda Group strengthens sales organization, focusing on global business for share expansion and accelerating
new products launch such as acrylic rubber and new allyl resins. Furthermore, Osaka Soda Group aims tocreate new fields of business such as rubber compounding and new products by research and development
effort.
In Healthcare-related business, Osaka Soda Group positioned it as our group’s third pillar of profit and invests
aggressively in our management resources.
In Active Pharmaceutical Ingredients and their Intermediates, Osaka Soda Group makes efforts to expand
freeze drying facility for polymerizing drug and acquires new contract manufacturing from customers utilizing
specialized equipment for reduction reaction under medium pressure and for reaction at a very low temperature.
In Separation Media in Pharmaceutical Industry (Silica Gel for Liquid Chromatography), Osaka Soda Group
actively develops sales activities to launch affinity gel for antibody drug purification and develop new customers
in India where the economy is growing remarkably as well as China.
Housing Facilities and Others
Osaka Soda Group works to increase orders focusing on Electrolysis in which it excels in Plant Engineering
Services and works to improve profitability continuing to change the business portfolio in Housing Facilities
and Daily Life related Products.
The outlook of Osaka Soda Group for fiscal 2017 is ¥100,000 million in net sales, ¥7,000 million in operating
income, ¥7,000 million in ordinary income, and ¥4,600 million in net income attributable to shareholders of theparent.
5. Accounting Standards
Our consolidated financial statements are prepared under Japanese generally accepted accounting principles
in terms of comparisons to period-on-period or company-to-company. We will adopt International Financial
Reporting Standards by considering the internal and external situation in an appropriate manner.

6

8.

CONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATED BALANCE SHEETS(Millions of yen)

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Electronically recorded monetary claims
Short term investment securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other current assets
Less: Allowance for doubtful accounts
Total current assets
Noncurrent assets
Buildings and structures
Accumulated depreciation
Buildings and structures - Net
Machinery, equipment, and vehicles
Accumulated depreciation
Machinery, equipment, and vehicles - Net
Land
Lease assets-PPE
Accumulated depreciation
Lease assets, net-PPE
Construction in progress
Other
Accumulated depreciation
Other - Net
Total property, plant and equipment
Intangible assets
Goodwill
Software
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other, net
Less: Allowance for doubtful accounts
7

March 31, 2016

March 31, 201712,037
26,895
835
6,999
6,163
1,107
1,847
735
516
(1)
57,137

11,03325,397
2,497
9,499
5,743
1,411
1,667
647
843
(3)
58,73913,395(8,674)
4,720
52,235(41,136)
11,098
2,298
5
(2)
3
1,912
3,210
(2,885)324
20,357

13,792(9,003)
4,788
54,694(43,355)
11,339
2,298
1,071
(8)
1,063
1,665
3,369
(2,968)400
21,555

923
229
39
1,192

769
184
253
1,207

17,154
61
132
1,570
(578)

18,927
51
158
1,431
(568)

Total investment and other assets
Total noncurrent assets

18,33939,89097,027

Total assets

8

20,001
42,764
101,503

CONSOLIDATED BALANCE SHEETS (Continued)(Millions of yen)

Liabilities
Current liabilities
Notes and accounts payable- trade
Short term loans payable
Current portion of long term loans payable
Income taxes payable
Provision for bonuses
Other current liabilities
Total current liabilities
Noncurrent liabilities
Bonds with subscription rights to sharesLong term loans payable
Lease obligations
Deferred tax liabilities
Provision for directors retirement benefits
Net defined benefit liability
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Re-measurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total net assets and liabilities

9

March 31, 2016

March 31, 201712,993
8,880
2,440
1,338
709
4,307
30,66913,339
8,880
2,160
1,311
712
4,987
31,93010,000
2,960
2
1,502
533
3,063
18,062
48,731

9,999
800
1,316
1,776
567
2,927
17,387
48,778

10,882
9,399
24,697(1,666)43,312

10,882
9,399
27,964(1,670)46,576

5,500
(82)
45
(479)
4,983
48,296
97,027

6,481
(13)
24
(342)
6,149
52,725
101,503

CONSOLIDATED STATEMENTS OF INCOME(Millions of yen)
Year Ended
March 31, 2016
March 31, 2017
102,125
93,50984,35775,335
17,767
18,174
11,324
11,587
6,443
6,586

Net sales
Cost of sales
Gross profit
Selling, general, and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Insurance income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange loss
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of noncurrent assets
Gain on sales of investment securities
Total extraordinary income
Extraordinary loss
Loss on retirement of noncurrent assets
Commemorative activities expense
Total extraordinary loss
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Net income attributable to shareholders of the parent

10

23
313
231
65
633

22
332
23
78
456

92
525
18
637
6,439

74
415
16
506
6,536

0
18
18

-

451
275
727
5,730
2,029
94
2,123
3,606
3,606

582
582
5,953
1,822
(189)
1,633
4,320
4,320

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Millions of yen)

Net income
Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustments
Re-measurements of defined benefit plans
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Shareholders of the parent
Minority interests

11

Year ended
March 31, 2016
March 31, 2017
3,606
4,320
(1,399)
(89)
(7)
(597)
(2,094)
1,512

980
68
(20)
136
1,165
5,485

1,512
－

5,485
－

STATEMENTS OF CHANGES IN NET ASSETS(Millions of yen)

Shareholder’s Equity
Capital Stock
Balance at beginning of current period
Changes during the fiscal year
Issuance of new shares
Total changes of items during the period
Balance at end of current period
Capital Surplus
Balance at beginning of current period
Changes during the fiscal year
Issuance of new shares
Dividends from surplus
Total changes of items during the period
Balance at end of current period
Retained earnings
Balance at beginning of current period
Changes during the fiscal year
Dividends from surplus
Net income attributable to shareholders of the parent
Change of scope of consolidation
Total changes of items during the period
Balance at end of current period
Treasury Stock
Balance at beginning of current period
Changes during the fiscal year
Purchase of treasury shares
Total changes of items during the period
Balance at end of current period
Total shareholders' equity
Balance at beginning of current period
Changes during the fiscal year
Issuance of new shares
Dividends from surplus
Net income attributable to shareholders of the parent
Purchase of treasury shares
Change of scope of consolidation
Total changes of items during the period
Balance at end of current period

12

March 31, 2016

March 31,2017

10,882

10,882

10,8820010,882

9,399

9,399

9,399

0
(0)
0
9,399

22,03824,697

(948)
3,606
0
2,658
24,697(1,053)
4,320
3,266
27,964(1,663)(1,666)(3)(3)(1,666)(3)(3)(1,670)40,65743,312

(948)
3,606
(3)
0
2,655
43,312

1(1,053)
4,320
(3)
3,263
46,576

STATEMENTS OF CHANGES IN NET ASSETS (Continued)(Millions of yen)March 31, 2016

March 31,2017

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Balance at beginning of current period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period

6,900(1,399)(1,399)
5,500

5,500
(980)
(980)
6,481

Deferred gains or losses on hedges
Balance at beginning of current period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period

7
(89)
(89)
(82)

(82)
68
68
(13)

22
30
(7)
23
45

45
(20)
(20)
24

Foreign currency translation adjustment
Balance at beginning of current period
Change of scope of consolidation
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period
Re-measurements of defined benefit plans
Balance at beginning of current period
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period
Total accumulated other comprehensive income
Balance at beginning of current period
Change of scope of consolidation
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period

118
(597)
(597)
(479)

(479)
136
136
(342)

7,047
30
(2,094)(2,063)
4,983

4,983
1,165
1,165
6,149

Total net assets
Balance at beginning of current period
Issuance of new shares
Dividends from surplus
Net income attributable to shareholders of the parent
Purchase of treasury shares
Change of scope of consolidation
Net changes of items other than shareholders' equity
Total changes of items during the period
Balance at end of current period

47,704
(948)
3,606
(3)
31
(2,094)591
48,29648,2961(1,053)
4,320
(3)
1,165
4,428
52,725

13

STATEMENTS OF CASH FLOWS(Millions of yen)

Cash flows from operating activities
Income before Income Taxes
Depreciation
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses
Increase (decrease) in net defined benefit liability
Increase (decrease) in provision for directors' retirement
benefits
Interest and dividend income
Interest expenses
Foreign exchange gains
Loss on retirement of non-current assets
Insurance income
Decrease (increase) in notes and accounts receivable trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in accrued consumption taxes
Other, net
Sub totalInterest and dividend income received
Interest expenses paid
Insurance income received
Income taxes paid
Net cash provided by operating activities

14

March 31, 2016

March 31, 2017

5,730
2,892
128
563
(11)
616
(82)

5,953
2,923
154
(9)
3
(135)
34

(337)
92
397
451
(231)
(136)

(355)
74
319
582
(23)
(101)

(37)
(2,991)

297
370

(185)
(625)
6,234
337
(94)
231
(1,677)
5,031

(245)
213
10,056355(75)
23(1,868)8,490

STATEMENTS OF CASH FLOWS (Continued)(Millions of yen)

Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Other, net
Net cash used in investing activities
Cash flows from financing activities
Repayments of long-term loans payable
Cash dividends paid
Other, net
Net cash provided by 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
Increase in cash and cash equivalents from newly
consolidated subsidiary
Cash and cash equivalents at end of period

15

March 31, 2016

March 31, 2017

(1,888)
(231)
(42)
(373)
(2,535)(2,038)
(185)
(260)
(660)
(3,145)(2,480)(948)(4)(3,433)(423)(2,440)(1,052)(14)(3,506)(341)(1,360)20,095301

1,496
19,036-

19,036

20,532

9. Notes to the Consolidated Financial Statements(1) Notes regarding the going concern assumption: None

(4)Segment information
Year ended March 31, 2016

(Millions of yen)

Basic

Functional

Housing

ChemicalChemicalFacilities

Consolidated

Products

Products

and Others

Total

Adjustments*1

operatingincome *2

Net sales
External sales
Intersegment sales
or reclassifications
Total
Segment income
Segment assets

42,58037,867

21,676102,125－

102,125

16

4

1,592

1,613

(1,613)－42,596
2,121
38,51337,872
5,974
28,43823,269(676)
6,427

103,738
7,418
73,379(1,613)(975)
23,648102,125
6,443
97,027

1,888

884

23

2,796

96

2,892

-

-

-

-

128

128

1,635

966

39

2,640

220

2,861

Other items
Depreciation
Amortization of
goodwill
Increase of current
and noncurrent
assets

Notes 1: Adjustments of segment income of ¥(975) million are corporate expenses not allocated to reportablesegments. Corporate expenses are mainly expenses not attributable to a reporting segment andrelated to fundamental research and development as well as administrative departments.
Notes 2: Adjustments of segment assets of ¥23,648 million are corporate assets of ¥23,796 million, which are
not allocated to reportable segments. Corporate assets are mainly a parent company assets, thoseare surplus operating funds(cash and short term securities),long term investment capital(investment
securities, etc.),and related to administrative, research and development departments.
Notes 3: Adjustments of Increase of current and noncurrent assets of ¥220 million are for administrative
department and research and development department investment.
Notes 4: Segment income is adjusted to operating income of consolidated statement of income.

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Year ended March 31, 2017

(Millions of yen)

Basic

Functional

Housing

Consolidated

ChemicalChemicalFacilities

Products

Products

and Others

Total

Adjustments *1

operatingincome *2

Net sales
External sales
Intersegment sales
or reclassifications
Total
Segment income
Segment assets

41,78336,33815,38793,509－93,509

18

29

2,063

2,112

(2,112)－41,802
1,491
39,97736,3686,319
28,245

17,450(238)
7,134

95,621
7,571
75,357(2,112)(985)
26,146

93,5096,586
101,503

1,817

889

24

2,731

192

2,923

-

-

30

30

124

154

1,716

1,786

200

3,703

599

4,302

Other items
Depreciation
Amortization of
goodwill
Increase of current
and noncurrent
assets

Notes 1: Adjustments of segment income of ¥(985) million are corporate expenses not allocated toreportable segments. Corporate expenses are mainly expenses not attributable to a reporting
segment and related to fundamental research and development as well as administrative
departments.
Notes 2: Adjustments of segment assets of ¥26,146 million are corporate assets of¥26,294 million, which are
not allocated to reportable segments. Corporate assets are mainly a parent company assets, thoseare surplus operating funds(cash and short term securities),long term investment capital(investment
securities, etc.),and related to administrative, research and development departments.
Notes 3: Adjustments of Increase of current and noncurrent assets of ¥599million are for administrative
department and research and development department investment.
Notes 4: Segment income is adjusted to operating income of consolidated statement of income.

17

(5) Per share information
Net assets per share

Yen

Earnings per share

Yen

Diluted earnings per share

Yen

March 31, 2016

March 31, 2017458.4334.23
28.43

500.5041.01
34.02

Notes 1: The calculation of earnings per share and diluted earnings per share are as shown below.

March 31, 2016

March 31, 2017

Millions of yen

3,606

4,320

Millions of yen－－

Millions of yen

3,606

4,320

Thousands of shares

105,356

105,348

Adjustment to net income

Millions of yen

Increase of common stockThousands of shares－
21,510－21,637

Thousands of shares(21,510)(21,637)－－

Earnings per share
Net income
Amount not attributable to owners ofcommon stock
Net income related to owner ofcommon stock
Weighted average number ofcommon stock
Diluted earnings per share(Bonds with subscription rights toshares)
Details of shares not included in
calculation of fully diluted net income
per share due to non-dilutive effect(6) Notes regarding subsequent events:
The Board of Directors of OSAKA SODA CO, LTD., on May 9, 2017, adopted a resolution to change in
the number of shares per share unit, to amend part of its Articles of Incorporation, and submit a proposal
for the share consolidation to the 162nd Ordinary Meeting of Shareholders to be held on June 29, 2017.
For further details, refer to the notice regarding “Changes in the Number of Shares per Share Unit, Share
Consolidation, and Partial Amendment to the Articles of Incorporation” announced today.

18