Reference Materials of Financial Results for the Fiscal
Year Ended March 31, 2024

May 14, 2024

Corporate Information
Mission of the Taiheiyo Cement Group
Onoda
CementCo., Ltd.
1881

Our mission is to contribute to social infrastructuredevelopment by providing solutions that areenvironmentally efficient, enhance our competitive
position and bring value to our stakeholders.

Chichibu
Onoda
CementCorporation

Chichibu
CementCo., Ltd.
1923

Asano
CementCo., Ltd.
1883

1994

Nihon
CementCo., Ltd.
1947

1998

EstablishedMay 3, 1881

Capital86,174 million yen

BUNKYO GARDEN GATE TOWER, 1-1-1, Koishikawa,
Headquarters Bunkyo-ku,
Tokyo 112-8503, Japan
Number of
employees

Consolidated: 12,540
Non-consolidated: 1,821 (not including seconded staff)

Subsidiaries

200 (including 129 consolidated subsidiaries
and 4 equity-method subsidiaries)

Affiliates

103 (including 38 equity-method affiliates)（ as of March 31, 2023 ）2024©TAIHEIYO CEMENT

2Market Area
◆ Cement plant◇ Clinker grinding plant
Redding◆
Mojave◆◆Oro Grande◆Rillito●TAIHEIYO CEMENTHEADQUARTERS
Japan◆Nghi Son

534,537million yen
Clinker
production capacity 17,642thousand tonnes

Net sales

◆Cebu

◇Lae

Asia-Pacific
Net sales
72,736million yen
Clinker
production capacity 4,440thousand tonnes

United States
Net sales
279,001million yen
Clinker
production capacity 5,280thousand tonnes［Cement Plants］❶ Kamiiso Plant❷ Ofunato Plant❸ Kumagaya plant❹ Saitama Plant❺ Fujiwara Plant❻ Oita Plant

❽

❾
❺
❻

❶
❷

❸
❹❼

［Group Production Plants］❼ DC Co., Ltd.
❽ Myojo Cement Co., Ltd.
❾ Tsuruga Cement Co., Ltd.
（as of March 31, 2023）
2024©TAIHEIYO CEMENT

3

Contents
1．Highlights of Consolidated P.5
Financial Results
2．Financial Results for the
Fiscal 2024

P.8(1)Consolidated Segment Information

P.9(2)Consolidated Statements of Income

P.14(3)Consolidated Balance Sheets

P.15(4)Consolidated Statements of Cash
Flows

P.16

3．Forecast for the Fiscal
2025

4．Shareholder Returns

P.23

Appendix

P.25

P.17

(1)Consolidated Statements of Income

P.19(2)Consolidated Segment Information

P.20

2024©TAIHEIYO CEMENT

4

1． Highlights of Consolidated Financial Results2024©TAIHEIYO CEMENT

51．Highlights of Consolidated Financial Results《Summary of Financial Results》
 Sales and profit increased from the previous year due to penetration of sales priceincreases in domestic cement, strong performance of U.S.A. subsidiaries, and penetrationof sales price increases in domestic businesses The dividend is scheduled 70 yen/share as planned(Million yen）

FY2023

FY2024

Change809,542886,275+76,733

Operating profit

4,456

56,470+52,013

Ordinary profit

1,015

59,472+58,457(33,206)

43,272+76,479

70

70

ーNet sales

Profit attributable to owners of parent
Dividend per share (Yen)2024©TAIHEIYO CEMENT

61．Highlights of Consolidated Financial Results《Main Indicators》
FY2023

FY2024

Change

0.6

6.4

+5.8

Basic earnings per share (Yen)(283.7)371.1+654.8

Net assets per share (Yen)

4,228.5

4,872.9+644.5Return on equity (ROE)(%)

(6.6)

8.2

+14.8

Capital adequacy ratio (%)

39.0

42.1

+3.1

Net debt/equity ratio (Times)

0.65

0.52

(0.14)

Operating profit to net sales ratio (%)

《Environmental Factors》
FY2023
Average exchange rate (Yen/US$)
Average procurement price of imported coal, etc. for domestic (C&F $/t)

FY2024

Change

131.6

140.7

+9.0

340

210

(130)

2024©TAIHEIYO CEMENT

72．Financial Results for the Fiscal 2024

2024©TAIHEIYO CEMENT

82．Financial Results for the Fiscal 2024
(1) Consolidated Segment Information(Million yen)

Net sales
FY2023

FY2024

Operating profit
ChangeFY2023

FY2024

ChangeDomestic

255,740

295,169+39,429(36,918)(1,408)+35,509

Overseas Subsidiaries, etc.

297,301

334,700+37,399

22,01934,191+12,172

Total

553,041

629,870+76,828(14,898)

32,783+47,682

Mineral Resources Business

82,70687,674+4,968

5,556

8,455

+2,899Environmental Business

77,911

68,254(9,656)

5,871

6,138

+266

Construction Materials Business

68,27073,456+5,185

2,351

4,208

+1,856

Other

86,92689,397+2,471

5,108

4,691

(417)

Total

868,855

948,653+79,797

3,989

56,276+52,286

Elimination(59,313)(62,378)(3,064)

466

193

(273)

Consolidated Total

809,542886,275+76,733

4,456

56,470+52,013

Cement Business2024©TAIHEIYO CEMENT

92．Financial Results for the Fiscal 2024
①The Domestic Cement Business

13,1292,438

12,9502,552

Net sales (Million yen)

255,740

295,169

 Decrease in sales volume of cement and soil
stabilizers due to decrease in domestic demand(179)  On the other hand, operating losses improved due+114
to penetration of cement and soil stabilizers sales
prices increases+39,429

Operating profit (Million yen)

(36,918)(1,408)+35,509

FY2023

FY2024

Sales volume (Thousand t)
Domestic
ExportNet Sales (Hundred million yen)

ChangeOperating Profit (Hundred million yen)2024©TAIHEIYO CEMENT

10

《Appendix》Domestic cement demand・Cement exports・Amount of waste, etc. utilized
Domestic cement demand・Cement exports・Amount of waste, etc. utilized (Ten thousand t)

5,756

5,908 5,898

5,550
5,008
4,273 4,161 4,265

2,878 2,959

3,089 3,072

2,946

2,629 2,599 2,707

4,457

2,852

4,770

4,555

4,266 4,177 4,187 4,258
4,097

3,026 2,921
2,805 2,799 2,833 2,858 2,742

3,867 3,788
3,728

2,615 2,629

3,457

2,487
(Unpublished)

1,037 1,027

FY05

FY06

959

FY07

1,002 1,067 1,105

FY08

FY09

FY10

997

FY11

1,001

FY12

963

FY13

Domestic
cement demand

850

FY14

942

FY15

Cementexports

1,181
1,058 1,153
1,037 1,053 1,111 1,148

FY16

FY17

FY18

FY19

FY20

FY21

FY22

814

FY23

686

FY24

Amount of waste, etc.
utilized

Data created from statistical data of the Japan Cement Association
2024©TAIHEIYO CEMENT

112．Financial Results for the Fiscal 2024
②Overseas Subsidiaries, etc.
FY2023

FY2024

Net sales (Million yen)

297,301

334,700

Operating profit (Million yen)

22,01934,191《U.S.A.》FY2023

FY2024

Cement (Thousand t)

6,693

6,825

Ready-mixed concrete (Thousand cy)(Hundred million yen)

5,596
2,310

6,101
2,840

(Million $)

1,755

2,019

(Hundred million yen)

259

390

(Million $)

197

277

Net sales
Operating profit

 Continued strong performance in U.S.A. covered the
difficult situation in Southeast Asia, and as a result,+37,399
increased in sales and profit

Changein exchange+20,685+12,172+2,333

 U.S.A. demand fell 2.5% year-on-year due to a
slowdown in housing demand caused by high+132
interest rates+505  Sales and profit increased due to penetration of+530
sales price increases and the effect of acquisitions(+263)(full-year effect of acquisition in July 2022) and+130
others, despite the impact of bad weather in the first+80
quarter

Change2024©TAIHEIYO CEMENT

122．Financial Results for the Fiscal 2024
③Mineral Resources, Environmental, Construction Materials and Other Business
FY2023MineralResources
Business
Environmental
Business
Construction
Materials
Business

FY2024

Change(Million yen)

Main Factors of Changes in Net Sales and Operating Profit(Net Change)

Net sales

82,70687,674+4,968Operating profit

5,556

8,455

+2,899Net sales

77,911

68,254(9,656) Decrease in fuel sales

Operating profit

5,871

6,138

+266

Net sales

68,27073,456+5,185

Operating profit

2,351

4,208

+1,856

Net sales

86,92689,397+2,471

Operating profit

5,108

4,691

(417)

Increase in aggregate sales volume in the Hokkaido, and Kansai region
Increase in various type of costs passed on to sales prices

Sales of calcium carbonate used for flue gas desulfurization and gypsum
remained strong
Ground improvement projects and Shield tunnels construction related
business were strong
Price optimization of ALC (Autoclaved Lightweight Concrete),construction and civil engineering materials

Other2024©TAIHEIYO CEMENT

13

2．Financial Results for the Fiscal 2024
(２)Consolidated Statements of Income(Million yen)

FY2023

FY2024

Change809,542886,275+76,733

4,456

56,470+52,013(3,440)3,002+6,443

1,015

59,472+58,457(17,382)(1,438)+15,944(16,366)

58,034+74,401

Income taxes

17,872

14,358(3,513)

Profit attributable to non-controlling interests(1,032)403+1,435(33,206)

43,272+76,479

Net sales
Operating profit
Non-operating income and expenses
Ordinary profit
Extraordinary income and losses
Profit before income taxes

Profit attributable to owners of parent2024©TAIHEIYO CEMENT

14

2．Financial Results for the Fiscal 2024
(Million yen)

31, 2023

31, 2024

ChangeCash and deposits

79,84280,101+259

Trade receivables

182,963

206,584+23,620

Inventories

138,373

123,177(15,195)

Other

29,22820,425(8,803)

Total current assets

430,408430,289(118)

Total property, plant and equipment

620,083

653,910+33,827

Total intangible assets

39,76639,083(683)

Total investments and other assets

178,604

214,967+36,363

Total non-current assets
Total assets

Exchange rate at end of period (Yen/US$)

838,454

907,961+69,507

1,268,862

1,338,251+69,388

As of Dec.

As of Dec.

31, 2022

31, 2023

132.7

141.8

As of Mar.

31, 2023

31, 2024

Change385,784

368,103(17,680)

Non-current liabilities

354,221373,762+19,541

740,005

741,866+1,861

Share capital

86,174

86,174ーCapital surplus

49,72950,051+322

Retained earnings

342,880

379,125+36,245

Treasury shares(13,738)(17,942)(4,204)

465,045

497,409+32,363

Accumulated other comprehensive income

29,91165,801+35,890

Non-controlling interests

33,89933,174(725)

528,857

596,384+67,527

1,268,862

1,338,251+69,388

As of Mar.

As of Mar.

31, 2023

31, 2024

Total liabilities

Total shareholders' equity

Total net assets
Total liabilities and net assets

Change+9.1

As of Mar.
Current liabilities

Shareholders' equity

As of Mar.

Liabilities

As of Mar.

Net assets

Non-current assets

Current assets(３)Consolidated Balance Sheets

Interest-bearing debt (Million yen)

403,485

370,469

Change(33,016)2024©TAIHEIYO CEMENT

15

2．Financial Results for the Fiscal 2024
(４)Consolidated Statements of Cash Flows(Million yen)

FY2023

FY2024

ChangeCash flows from operating activities(268)

140,543+140,812

Cash flows from investing activities(93,344)(82,138)+11,206

Cash flows from financing activities

112,080(59,476)(171,556)

Effect of exchange rate change on cash and cash equivalents

2,048

1,350

(697)

Net increase (decrease) in cash and cash equivalents

20,515278(20,236)

99

39

(59)

Cash and cash equivalents at beginning of period

50,21370,828+20,614

Cash and cash equivalents at end of period

70,82871,146

+318

Other

2024©TAIHEIYO CEMENT

16

3．Forecast for the Fiscal 2025

2024©TAIHEIYO CEMENT

17

3．Forecast for the Fiscal 2025
《Precondition》
 The precondition for the FY 2025 forecast is as follows
FY2024(Actual)
Domestic cement demand (Ten thousand t)

Change

3,457

3,500

+43

210

165

(45)

140.7

145.0

+4.3

Average procurement price of imported coal, etc. for domestic (C&F $/t）
Average exchange rate (Yen/US$)FY2025(Forcast)(Sensitivity: Impact on operating profit)100 million yen negative impact by 1 yen drop in foreighn exchange《Summary for the Fiscal 2025 Forecast》
 Expect to increase in sales and profits from the previous year Domestic cement business is expected to increase in operating profit due to an
improvement of coal prices
 Overseas subsidiaries, etc. are expected to increase in sales and profit due to a strong
performance in the U.S.A.
 Depreciation expense decreased by 7.8 billion yen due to change in depreciation method(declining-balance method → straight-line method)2024©TAIHEIYO CEMENT

18

3．Forecast for the Fiscal 2025
(１) Consolidated Statements of Income(Hundred million yen)

FY2024(Actual)
Net sales
Operating profit
Non-operating income and expenses
Ordinary profit
Extraordinary income and losses
Profit before income taxes
Income taxes
Profit attributable to non-controlling interests
Profit attributable to owners of parent

FY2025(Forcast)

Change

8,862

9,600

+738

564

840

+276

30

(5)

(35)

594

835

+241

(14)

(5)

+9

580

830

+250

143

190

+47

4

20

+16

432

620

+188

2024©TAIHEIYO CEMENT

19

3．Forecast for the Fiscal 2025
(２) Consolidated Segment Information(Hundred million yen)

Net sales
FY2024(Actual)FY2025(Forcast)

Operating profit
ChangeFY2024(Actual)FY2025(Forcast)

ChangeDomestic

2,951

3,140

+189

(14)

150

+164

Overseas Subsidiaries, etc.

3,347

3,660

+313

341

425

+84

Total

6,298

6,800

+502

327

575

+248

Mineral Resources Business

876

960

+84

84

100

+16

Environmental Business

682

750

+68

61

61

ー

Construction Materials Business

734

810

+76

42

50

+8

Other

893

950

+57

46

55

+9

Total

9,486

10,270

+784

562

841

+279

Elimination

(623)

(670)

(47)

1

(1)

(2)

Consolidated Total

8,862

9,600

+738

564

840

+276

Cement Business※Decrease in depreciation expenses due to change in depreciation method (declining-balance method → straight-line method)
Domestic Cement: 49 hundred million yen, Mineral Resources: 11 hundred million yen, Environmental: 3 hundred million yen,
Construction Materials: 3 hundred million yen, Other: 10 hundred million yen
2024©TAIHEIYO CEMENT

20

3．Forecast for the Fiscal 2025
①The domestic Cement Business
FY2024FY2025(Actual)(Forcast)

ChangeSales volume (Thousand t)
Domestic
ExportNet sales (Hundred million yen)
Operating profit (Hundred million yen)

Net Sales (Hundred million yen)

12,9502,552

13,300
3,300

+350
+748

2,951

3,140

+189

(14)

150

+164

 Expect to increase in sales volume of cement andsoil stabilizers due to a slight increase in domestic
demand Expect to Increase in operating profit due to a
price improvement of coal, etc.

Operating Profit (Hundred million yen)2024©TAIHEIYO CEMENT

21

3．Forecast for the Fiscal 2025
②Overseas Subsidiaries , etc.

Net sales (Hundred million yen)
Operating profit (Hundred million yen)

FY2024FY2025

Change(Actual)(Forcast)

in exchange

3,347

3,660

341

425

+313
+101
+84

 U.S.A. and Asia, etc. is expected to increase in sales
and profit
 The new Philippine plant is scheduled to start
commercial production in July 2024

+13

《U.S.A.》

Cement (Thousand t)

Operating profit

FY2025(Actual)(Forcast)

Change(Hundred million yen)

6,825
6,101
2,840

6,875
6,080
3,008

+167

(Million $)

2,019

2,074

+54

(Hundred million yen)

390

418

+28

(Million $)

277

288

+11

Ready-mixed concrete (Thousand cy)
Net sales

FY2024+49(21)

 U.S.A. is expected to increase in national demand by
about 1.0% from the previous year, supported byinfrastructure investment, etc., although a slowdown
in private demand is expected
 Sales volume is expected to be similar to theprevious year. However, sales and profit are expected
to increase due to price increases and cost
reductions
2024©TAIHEIYO CEMENT

22

4．Shareholder Returns

2024©TAIHEIYO CEMENT

23

4. Shareholder Returns
 70 yen/share (including interim dividend of 35 yen/share) is scheduled in fiscal 2023 as planned
 80 yen/share (including interim dividend of 40 yen/share) is planned to increase by 10 yen in fiscal 2024

《Shareholder Return Policy》
Total return ratio: 33% or more
Maintaining steady dividends:Dividend per share of 80 yen or more
Agile acquisition of treasury shares

100.0

100.0%

90.0

90.0%

80.0

80.0%

70.0

70.0%

60.0

60.0%

50.0

50.0%

40.0

40.0%

30.0

30.0%

20.0

20.0%

10.0

10.0%

0.0

0.0%
2020

2021

Interim dividends

2022

2023

Year-end dividends

2024

2025
(Forcast)
Total return ratio2024©TAIHEIYO CEMENT

24

Appendix

2024©TAIHEIYO CEMENT

25

Transition Data
(1) Interest-bearing Debt

(2) Capital Investment(Hundred million yen)

4,035
2,661
853
1,808
As of Mar.
31, 2020

2,481
739
1,742
As of Mar.
31, 2021

2,706

708

1,094
3,704
618

3,800
700

675
3,327
2,031

As of Mar.
31, 2022

Taiheiyo Cement

As of Mar.
31, 2023(Hundred million yen)

3,086

As of Mar.
31, 2024

Consolidaed subsidiaries

3,100

As of Mar.
31, 2025(Focast)

776

500

894
660
366

733

759

422

483

683
631

276

294

311

275

263

FY20

FY21

FY22

FY23

FY24

Taiheiyo Cement

411

FY25
(Forcast)

Consolidaed subsidiaries2024©TAIHEIYO CEMENT

26

Transition Data
(3) Depreciation Expenses(4) Research and Development Expenses(Hundred million yen)

644
488

304

526

328

663

(Hundred million yen)

645

560

342

184

198

218

FY20

FY21

FY22

Taiheiyo Cement

417

437

457

227

226

188

FY23

FY24

FY25
(Forcast)

Consolidaed subsidiaries

52

44

46

9

8

35

38

43

FY20

FY21

FY22

9

Taiheiyo Cement

59

56

63
11

10

8

49

48

52

FY23

FY24

FY25
(Forcast)

Consolidaed subsidiaries※ Change in depreciation method from FY 2025
(declining-balance method to straight-line method)2024©TAIHEIYO CEMENT

27

Transition Data
(5)Sales Volume of Cement in Overseas Subsidiaries(6)Overview of Business in the U.S.A.

(Simple sum of consolidated subsidiaries)(Ten thousand t)

Net sales(Million US$)

1,341

1,431

1,491

FY20

FY21

FY22

1,755

FY23

2,019

2,074

FY24

FY25
(Forcast)

Operating Profit
129

FY20

(Million US$)

193

211

197

FY21

FY22

FY23

277

288

FY24

FY25
(Forcast)

2024©TAIHEIYO CEMENT

28

Forecast for the First Half of Fiscal 2025
(1)Consolidated Statements of Income(Hundred million yen)

Net sales

FY2024FY2025Six months

Six months(Actual)(Forcast)

Change

4,185

4,640

+455

Operating profit

177

345

+168

Ordinary profit

201

345

+144

Profit attributable to owners of parent

136

265

+129

※Decrease in depreciation expenses due to change in depreciation method (declining-balance method → straight-line method): 33million yen

2024©TAIHEIYO CEMENT

29

Forecast for the First Half of Fiscal 2025
(2) Consolidated Segment Information(Hundred million yen)

Net sales

Operating profit

FY2024Six months(Actual)FY2025Six months(Forcast)

Domestic

1,442

1,570

+128

(60)

42

+102

Overseas Subsidiaries, etc.

1,541

1,770

+229

139

200

+61

Total

2,983

3,340

+357

78

242

+164

Mineral Resources Business

429

470

+41

40

46

+6

Environmental Business

325

360

+35

30

28

(2)

Construction Materials Business

341

370

+29

18

16

(2)

Other

403

430

+27

9

13

+4

Total

4,483

4,970

+487

178

345

+167

Elimination

(297)

(330)

(33)

(0)

(0)

ー

Consolidated Total

4,185

4,640

+455

177

345

+168

Cement BusinessChangeFY2024Six months(Actual)FY2025Six months(Forcast)

Change※ Decrease in depreciation expenses due to change in depreciation method (declining-balance method → straight-line method)
Domestic Cement: 21 hundred million yen, Mineral Resources: 4 hundred million yen, Environmental: 1 hundred million yen,
Construction Materials: 1 hundred million yen, Other: 4 hundred million yen
2024©TAIHEIYO CEMENT

30Key Player in the Formation of a Circular Economy
The Taiheiyo Cement Group will continue to fulfill its role as a supplier of criticalmaterials for national resilience and as a key player in the formation of a circular
economy, while progressing with the steady transition to carbon neutrality.

Utilization of waste
and by-products• Coal ash• Blast furnace slag
• Various industrial waste• Construction soil
• Municipal waste• Incineration residues• Household water and sewage sludgeetc.

Key player inthe formation ofa circular economy

Currently, the amount of waste andby-products used in the cement
industry in Japan is equivalent toabout 10% of the total amount ofmaterials recycled in Japan.

Our group uses waste and byproducts generated in local
communities and otherindustries as raw materials andfuel to produce cement with arecycling rate of over 40%.

Uses in the developmentof social infrastructure
and the living environment• Roads• Railways• Ports and harbors• Bridges• Tunnels• Schools• Hospitals• Commercial buildings• Levees• Seawalls• Underground facilities
and more• Housing• DamsSupply criticalmaterials fornational resilience2024©TAIHEIYO CEMENT

31

Carbon Neutrality Transition Plan
CO₂ emissions from cement manufacturing process are 60% raw material-derived and
40% energy-derived.
By 2030,● Completion of maximized use of existing technologies to reduce CO₂ emissions derived from energy and raw materials● Completion of technological development of innovative technologies (CO₂ capture and CO₂ utilization)

Toward 2050, we will sequentially deploy innovative technologies to deliver carbon neutrality
throughout the entire supply chain.
Use of renewable energy,hydrogen, synthetic methane, etc.

Rawmaterial-derived● Expanded use of cement admixtures● Development of low-CO₂ cement

Popularization of blended cement andlow-CO₂ cement

Innovativetechnology● Establishment of CO₂ separation and recovery technology

Deployment of CO₂ separation and recovery technology
Popularization and use of CO₂ storage technology

Other than cement
production process● Optimization of the transportation by using EVs and quarry greening● Standardization of accounting for CO₂ uptake by concrete carbonation(recarbonation)

Deployment throughout the supply chain

Reduction of emissions intensity

20%

byor more throughout
the supply chain compared to 2000

Carbon neutrality● Energy saving● Expansion of alternative energy

Cement production
process

Energy-derived

2030

Interim Target

2024©TAIHEIYO CEMENT

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External Evaluation
FTSE Blossom Japan
Sector Relative Index［Consecutive A- rating since 2018］

Morningstar Japan ex-REIT
Gender Diversity Tilt Index

Platinum “Kurumin”
certification（GenDi J）

MSCI Japan ESG SelectLeaders Index
S&P/JPX
Carbon Efficient Index
CDP［Selected as the “Supplier Engagement Leader”］［Scored A for climate change, B for water］

R&I［Acquired in August 2023］

Health & Productivity Management
Outstanding Organization［Acquired in 2023］

Human Capital Management Quality
2023［Silver］

DBJ Environmental Rating［The Highest Rating for the eight consecutive year］

JCR［Consecutive A rating since 2020］2024©TAIHEIYO CEMENT

33

List of major News Releases
Jan.22.2024

Participation in "Circular Partners", an Industry-Government-Academia Partnership for a Circular Economy

Jan.24.2024

Assistance to affected areas and victims of the 2024 Noto Peninsula Earthquake

Jan.30.2024

Breakthrough by Dynamic Approach in Sewage High Technology Project (B-DASH Project) "Research and Demonstration
Project regarding Sewage Resources Utilization by using New Phosphorus Recovery System" Completion Ceremony Heldfor Phosphorus Recovery and Fertilizer Conversion Facility

Feb.6.2024

Taiheiyo Cement selected for CDP Climate Change "A List" (highest rating) for the second consecutive year in recognitionof our advanced environmental initiatives and transparency

Feb.21.2024

Taiheiyo Cement Corporation Renames "Carbon Neutral Technology Development Project Team" to "Carbon Neutral
Technology Development Department"

Feb.22.2024

Selected for "Human Capital Management Quality 2023 (Silver)" in the "Human Capital Survey 2023"

Feb.27.2024

Notice Concerning Changes in Representative Directors

Feb.29.2024

Taiheiyo Cement Obtains the Highest DBJ Environmental Rating for the eight consecutive year.

Mar.6.2024

Taiheiyo Cement has been selected as the "Supplier Engagement Leader", the highest rating in the "Supplier Engagement
Rating" by CDP

Mar.11.2024

Taiheiyo Cement is Recognized as a "Certified Health and Productivity Management Organization" for Two Consecutive
Years

Mar.21.2024

Installation of New Gas Engine Power Generation System at Fujiwara Plant

Apr.3.2024

Commencement of Demonstration Runs of C2SP Kiln® for CO2-capture Technology in the Cement Production Process

May.9.2024

Price revision of cement and cement-based soil stabilizers
2024©TAIHEIYO CEMENT

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Disclaimer

This document is a translation of the original Japanese version and provided for reference purposes
only. In the event of any discrepancy between the Japanese original and this English translation, theJapanese original shall prevail.
Forecasts and other forward-looking statements in this document are based on information available
to Taiheiyo Cement as of the date of the release of this document and on certain assumptions Taiheiyo
Cement deems reasonable, and therefore are subject to risks and uncertainties.
As such, Taiheiyo Cement does not offer any promise or guarantee that forecasts included in thisdocument will be realized in the future. Actual results may differ significantly due to a variety of factors.

2024©TAIHEIYO CEMENT

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