For the Fiscal Year Ended March 31, 2021

Annual Select® 2021

Tayca Corporation
4-11-6 Tanimachi, Chuo-ku, Osaka(Securities Code: 4027)+81-6-6943-6401

Corporate Profile
The history of “Tayca Corporation” dates back to 1919, when the company was founded as “Teikoku Jinzo
Fertilizer Co., Ltd.” Ever since its foundation, based on the sulfuric acid-related technology, we have
expanded business through the research, production and marketing of various industrial chemical products,
adapting ourselves to the changing needs of time and society. These products include items such astitanium dioxide, surfactants, and various types of functional fine particle products and piezoelectricmaterials.
Thanks to your support, we celebrated our 100th anniversary in 2019.
We will aim to be a company needed by society for the next 100 years, with each and every employee
using their own mind and making their own proposals in order to respond to the diversification of themarket going forward. Furthermore, by creating new value that takes into consideration the global
environment, we will work on business activities aiming to realize a sustainable society and to enhance
corporate value.
The Group will work together unitedly to further raise corporate value while adequately and flexibly
responding with speed to the rapidly changing environment.

I. Summary of Selected Financial Data (Consolidated)

Net sales

151st term

152nd term

153rd term

154th term

155th term

Fiscal year ended
March 31, 2017

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

38,241

42,521

47,38545,43538,402

5,969

6,108

6,033

5,798

2,740

4,070

3,624

4,007

3,830

1,927

5,560

4,422

3,029

3,056

4,222

39,22443,04345,356

46,94050,23053,97558,84363,91663,554

69,177

1,659.21

1,819.24

1,916.26

2,010.70

2,152.62

172.41

154.13

170.47163.70

83.16

–

–

–

–

–

72.3

72.7

70.5

73.3

72.1

11.1

8.9

9.1

8.4

4.0

8.8

18.3

14.9

8.7

17.8

7,375

4,002

4,830

5,165

4,953

(1,749)(4,992)(3,787)(5,498)(4,905)(1,459)

(536)

1,270

(2,346)

2,519

12,614

11,086

13,388

10,713

13,250

645

702

758

793

834

(Millions of yen)

Ordinary profit(Millions of yen)

Profit attributable to ownersof parent(Millions of yen)Comprehensive income(Millions of yen)

Net assets(Millions of yen)

Total assets(Millions of yen)

Net assets per share(Yen)

Basic earnings per share(Yen)

Diluted earnings per share(Yen)

Equity-to-asset ratio(%)

Rate of return on equity
(ROE)
(%)

Price-earnings ratio (PER)(Times)Net cash provided by (usedin) operating activities(Millions of yen)

Net cash provided by (usedin) investing activities(Millions of yen)

Net cash provided by (usedin) financing activities(Millions of yen)

Cash and cash equivalents at
end of period(Millions of yen)

Number of employees(Persons)

Notes: 1.
2.
3.

4.

“Net sales” does not include consumption taxes.
“Diluted earnings per share” is not provided since there are no potential shares.
Tayca Corporation conducted a share consolidation of common stock at a ratio of 1 share for every 2 shares on October 1,
2017. Accordingly, “Net assets per share” and “Basic earnings per share” have been calculated on the assumption that theshare consolidation was conducted at the beginning of the 151st term (fiscal year ended March 31, 2017).
Tayca Corporation and its subsidiaries (the “Group”) have applied the “Partial Amendments to Accounting Standard for Tax
Effect Accounting” (ASBJ Statement No. 28, February 16, 2018) and relevant Guidances effective from the beginning of the
153rd term (fiscal year ended March 31, 2019). The selected financial data shown for the 152nd term (fiscal year ended March
31, 2018) has been adjusted retrospectively to reflect the new accounting standards.

-1-II. Top Message

Tayca Corporation’s 155th term (from April 1, 2020 to March 31,2021) has ended and as such we hereby offer the following report
regarding the settlement of accounts, etc.

Hirofumi Yamazaki
Representative Director, President Executive Officer

During the fiscal year ended March 31, 2021 (the “current fiscal year”), the Group posted net sales of ¥38,402
million (down 15.5% from the previous fiscal year), operating profit of ¥2,927 million (down 49.6% from theprevious fiscal year), ordinary profit of ¥2,740 million (down 52.7% from the previous fiscal year) and profit
attributable to owners of parent of ¥1,927 million (down 49.7% from the previous fiscal year).
Effective from the current fiscal year, the Group has reclassified its reportable segments in conjunction with theclarification of operational classifications. The previous two reportable segments, “Business Related to Titanium
Dioxide” and “Other Business” have been reclassified as two reportable segments, “Functional Chemical
Business” and “Electronic Material and Basic Chemical Business.”

Net sales (millions of yen)

Operating profit (millions of yen)

151st term

152nd term

153rd term

154th term

155th term

151st term

152nd term

153rd term

154th term

155th term

(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

Profit attributable toowners of parent (millions of yen)

Ordinary profit (millions of yen)

151st term

152nd term

153rd term

154th term

155th term

151st term

152nd term

153rd term

154th term

155th term

(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

March 31, 2021)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)-2-

The operating results by segment are as follows.
Functional Chemical BusinessIn regard to general usage titanium dioxide, both sales volume and net sales fell year on year owing to thesignificant impact of the decline in demand for architecture and automobiles in first half of the fiscal year.
Both sales volume and net sales of specialty use micro titanium dioxide, micro zinc oxide and surface treatment
products fell year on year due to decline in demand for ultra-violet (UV) radiation protection, which is a primaryuse for the above-mentioned products, affected by factors such as people refraining from going out and thedissipation of demand by inbound tourists to Japan.
As a result of the above, net sales for this business were ¥19,442 million (down 20.9% from the previous fiscal
year) and segment profit was ¥912 million (down 72.6% from the previous fiscal year).
Operating profit (millions of yen)

Net sales (millions of yen)

151st term

152nd term

153rd term 154th term

155th term

151st term

152nd term

153rd term

154th term

155th term

(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

Electronic Material and Basic Chemical BusinessIn regard to surfactants, both sales volume and net sales fell year on year owing to decreased sales for industrial
detergents due to weak demand from restaurants.
In regard to conductive polymers and related products for capacitors, sales for use in automobiles fell, but sales
volume increased from the previous fiscal year and net sales were on par with the previous fiscal year owing tofirm sales for use in personal computers due to an increase of people working from home, etc.
Sales volume and net sales of pollution-free anti-corrosive pigment and sulfuric acid were on lower level thanthe previous fiscal year, affected by a lull in demand.
Sales volume and net sales of piezoelectric materials were lower than the previous fiscal year due to the effects
of inventory adjustments by some customers, despite robust sales to overseas customers for medical equipment
applications.
As a result of the above, net sales for this business were ¥17,713 million (down 9.5% from the previous fiscal
year), and segment profit was ¥1,813 million (down 17.6% from the previous fiscal year).
Net sales (millions of yen)

Operating profit (millions of yen)

151st term 152nd term

153rd term

154th term

155th term

151st term

152nd term 153rd term

154th term 155th term

(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2021)-3-

OtherNet sales in the warehousing business fell below those of the previous fiscal year due to decreases in freight
movement as a result of logistics slowdowns.
As a result of the above, net sales for this business were ¥1,245 million (down 4.0% from the previous fiscal
year), and segment profit was ¥213 million (down 28.6% from the previous fiscal year).

Ⅲ. Forecasts for the Next Fiscal Year
Regarding the economic outlook, we expect that the future will remain uncertain due to concern regarding aresurgence of infections because of new COVID-19 variants.
Regarding the impact of the spread of COVID-19, although it is difficult to accurately estimate when thesituation will come under control, the Group assumes that the economic environment will move toward a certain
degree of recovery by the end of the next fiscal year. Regarding the Group’s earnings forecast for the fiscal year
ending March 31, 2022, revenue is expected to increase and profits are expected to decline year on year due torising fuel prices despite the gradual recovery of demand for general usage titanium dioxide, functional fineparticle products, etc.
Despite general usage titanium dioxide showing signs of recovery, we expect that the difficult situation on theearnings front will continue due to rising fuel prices.
We are expecting demand for specialty use micro titanium dioxide, micro zinc oxide, and surface treatment
products to recover steadily due to widespread vaccination mainly in Europe and the United States, despite
declining demand for ultra-violet (UV) radiation protection, which is a primary use for the above-mentioned
products, due to the global spread of COVID-19.
As for electronic materials for medical devices, we will work to further expand sales as we expect that demand
will continue to be strong going forward.
Regarding the Basic Chemical Business, robust demand is expected for daily goods such as detergents.
Under these circumstances, the Group will work together unitedly to further raise corporate value while
adequately and flexibly responding with speed to the rapidly changing environment.
In regard to the forecasts of consolidated performance for the next fiscal year, we expect net sales of ¥42,200
million, operating profit of ¥2,200 million, ordinary profit of ¥2,800 million, and profit attributable to owners ofparent of ¥1,800 million.
Furthermore, in regard to the dividend for the next fiscal year, we plan to bring the annual dividend to ¥36 pershare: a combination of an interim dividend of ¥18 per share and a year-end dividend of ¥18 per share.

-4-IV. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)(Thousands of
U.S. dollars)

As of March 31,
2020

As of March 31,
2021

As of March 31,
2021

10,792
13,302
6,913
982
3,728
546
(2)
36,261

13,32911,395
7,164
1,116
3,342
634
(2)
36,979120,384
102,91764,703
10,07930,1845,726(18)
333,986

5,151
5,646
1,699
2,959
444
15,901

6,724
7,774
1,695
936
493
17,62460,72970,213
15,308
8,453
4,452
159,176

1,858
274
2,133

1,536
230
1,767

13,872
2,077
15,959

8,435
481
71
292
(23)
9,258
27,29363,554

11,797
637
71
323
(23)
12,80632,19869,177

106,548
5,753
641
2,917
(207)
115,661
290,805
624,792

AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-5-

(Millions of yen)(Thousands of
U.S. dollars)

As of March 31,
2020

As of March 31,
2021

As of March 31,
2021

4,787
605
754
1,034
405
3,346
10,934

3,914
465
1,950
442
350
2,875
9,999

35,3504,199
17,611
3,992
3,161
25,96690,308

1,652
89
608
16
1
3,236
75
5,679
16,613

4,038
56
1,692
9
–
3,152
–
8,948
18,94736,470505
15,281
81–
28,468–80,816
171,125

9,855
6,766
28,551(2,458)42,714

9,855
6,766
29,551(2,459)43,71489,008
61,109266,898(22,209)394,815

4,008

6,370

57,532

(85)
112
(151)
3,885
340
46,94063,554

61
(187)
(71)
6,173
341
50,23069,177550(1,688)(641)
55,753
3,079
453,666
624,792

Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Current portion of long-term borrowings
Income taxes payable
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Lease obligations
Deferred tax liabilities
Long-term accounts payable - other
Provision for environmental measures
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-6-

(2) Consolidated Statements of Income andConsolidated Statements of Comprehensive Income(Consolidated Statements of Income)(Millions of yen)(Thousands of
U.S. dollars)

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Fiscal year ended
March 31, 2021

45,43533,072
12,362
6,554
5,808

38,402
29,377
9,025
6,097
2,927

346,838
265,326
81,51155,06626,436

3
225
–
–
–
–
68
296

1
213
162
119
118
24
92
732

9
1,923
1,463
1,074
1,065

45
81
–
87
92
307
5,798

50
19
826
–
23
918
2,740

451
171
7,460
–
207
8,291
24,747

–
425
425

180
129
309

1,625
1,165
2,790

309
162
25
–
14
4
515
5,708
1,864
(8)
1,855
3,852
22
3,830

–
261
48
12
–
–
321
2,728
829
(49)
779
1,949
22
1,927

–
2,357
433
108
–
–
2,899
24,638
7,487
(442)
7,035
17,602
198
17,404

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Compensation income
Income on compensation
Subsidies for employment adjustment
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on abandonment of inventories
Costs related to the suspension of operations
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Compensation for forced relocation
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses
Impairment losses
Loss on retirement of non-current assets
Loss on valuation of investments in capital
Head office relocation expenses
Loss on valuation of investment securities
Loss on sale of golf club membership
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

-7-

830
6,611

(Consolidated Statements of Comprehensive Income)(Millions of yen)(Thousands of
U.S. dollars)

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Fiscal year ended
March 31, 2021

3,852

1,949

17,602

(848)

2,362

21,333

(118)
81

146
(316)

1,318
(2,854)

90

79

713

(795)
3,056

2,272
4,222

20,52038,132

3,017

4,215

38,06939

654

ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net oftax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable to noncontrolling interests-8-(3) Consolidated Statements of Changes in Equity
Fiscal year ended March 31, 2020
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCapital surplus

9,855

Retained earnings

6,766

Total shareholders’equityTreasury shares

25,520(1,791)40,351

Changes during period
Dividends of surplus

(799)

(799)

Profit attributable toowners of parent

3,830

3,830

Purchase of treasury shares

(667)

(667)

Disposal of treasury shares

00

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

3,030

(667)

2,363

9,855

6,766

28,551(2,458)42,714

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

4,856

33

48

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income
(241)

4,698

306

Total net
assets45,356

Changes during period
Dividends of surplus(799)

Profit attributable toowners of parent

3,830

Purchase of treasury shares(667)

Disposal of treasury shares0

Net changes in items otherthan shareholders’ equity

(848)

(118)

64

90

(812)

34

(778)

Total changes during period

(848)

(118)

64

90

(812)

34

1,584

Balance at end of period

4,008

(85)

112

(151)

3,885

340

46,940-9-

Fiscal year ended March 31, 2021
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCapital surplus

9,855

Retained earnings

6,766

Total shareholders’equityTreasury shares

28,551(2,458)42,714

Changes during period
Dividends of surplus

(927)

(927)

Profit attributable toowners of parent

1,927

1,927

Purchase of treasury shares

(0)

(0)

Disposal of treasury shares

00

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

1,000

(0)

999

9,855

6,766

29,551(2,459)43,714

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

4,008

(85)

112

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income
(151)

3,885

340

Total net
assets

46,940Changes during period
Dividends of surplus(927)

Profit attributable toowners of parent

1,927

Purchase of treasury shares(0)

Disposal of treasury shares0

Net changes in items otherthan shareholders’ equity

2,362

146

(300)

79

2,288

0

2,289

Total changes during period

2,362

146

(300)

79

2,288

0

3,289

Balance at end of period

6,370

61

(187)

(71)

6,173

341

50,230- 10 -

Fiscal year ended March 31, 2021
(Thousands of U.S. dollars)
Shareholders’ equity
Share capital
Balance at beginning of
periodCapital surplus

89,008Retained earnings

61,109Total shareholders’equityTreasury shares

257,866(22,200)

385,783

Changes during period
Dividends of surplus(8,372)(8,372)

Profit attributable toowners of parent

17,404

17,404Purchase of treasury shares

(0)

(0)

Disposal of treasury shares

00

Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

–

–

9,031

(0)

9,022

89,008

61,109266,898(22,209)394,815

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

36,199

(767)

1,011

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income(1,363)35,0883,070

Total net
assets423,952

Changes during period
Dividends of surplus(8,372)

Profit attributable toowners of parent

17,404Purchase of treasury shares(0)

Disposal of treasury shares0

Net changes in items otherthan shareholders’ equity

21,333

1,318(2,709)713

20,6640

20,673

Total changes during period

21,333

1,318(2,709)713

20,664029,705

Balance at end of period

57,532550(1,688)(641)

55,753

3,079

453,666- 11 -

(4) Consolidated Statements of Cash Flows(Millions of yen)(Thousands of
U.S. dollars)

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2021

Fiscal year ended
March 31, 2021

5,708
2,590
232
(425)
309
162
38
(228)
45
1,577
(2,672)
(590)
(168)
116
6,693
228
(45)
(1,711)
5,165

2,728
2,737
219
(129)
–
261
31
(215)
50
1,782
(48)
(794)
50
(505)
6,168
215
(50)
(1,380)
4,953

24,63824,7201,977(1,165)–
2,357
279(1,941)451
16,094(433)(7,171)451(4,561)55,708
1,941(451)(12,463)
44,734(5,534)
(11)
536
(489)
(5,498)(4,857)
(6)
175
(216)
(4,905)(43,867)(54)
1,580(1,950)(44,300)

(66)
–
(777)
(667)
(798)
(5)
(31)
(2,346)

(107)
5,000
(1,411)
(0)
(924)
(5)
(31)
2,519

(966)
45,158(12,743)
0(8,345)(45)(279)
22,751

4

(29)

(261)

(2,675)
13,388
10,713

2,537
10,713
13,25022,91396,757
119,671

Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sale of investment securities
Impairment losses
Loss on retirement of non-current assets
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment
Purchase of investment securities
Proceeds from sale of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 12 -

V. Segment Information
1. Overview of reportable segments
The reportable segments are constituent units of Tayca for which separate financial information is available. The
Board of Directors periodically examines these segments for the purpose of deciding the allocation ofmanagement resources and evaluating operating performance.
Tayca’s reportable segments are its core businesses: Functional Chemical Business and Electronic Material andBasic Chemical Business.
Effective from the fiscal year ended March 31, 2021, the Group has reclassified its reportable segments inconjunction with the clarification of operational classifications. The previous two reportable segments, “Business
Related to Titanium Dioxide” and “Other Business” have been reclassified as two reportable segments,“Functional Chemical Business” and “Electronic Material and Basic Chemical Business.”
Segment information of the prior fiscal year is prepared and disclosed based on the reportable segmentclassifications after the change.
Main products belonging to each segment are as follows:(1) Functional Chemical Business:
Titanium dioxide, micro titanium dioxide, micro zinc oxide, surface treatment products, etc.
(2) Electronic Material and Basic Chemical Business:
Piezoelectric materials, conductive polymers and related products, surfactants, sulfuric acid, pollution-free
anti-corrosive pigment, etc.
2. Calculation method for net sales, profit or loss, assets, liabilities, and other items by reportable segment
Segment profit of reportable segment is calculated on an operating profit basis.
Inter-segment sales or transfers are based on actual market prices.
3. Information about net sales, profit or loss, assets, liabilities, and other items by reportable segment
Fiscal year ended March 31, 2020
(Millions of yen)
Reportable segment

Adjustment(Note 2)

Amountrecorded ontheconsolidated
financialstatements(Note 3)

Electronic
Functional

Material andChemical

BasicBusiness

Chemical

Other(Note 1)

Total

Business
Net sales
Net sales to externalcustomers
Inter-segment sales ortransfers
Total

24,564

19,573

44,1371,297–

45,435

–

–

–

1,476

(1,476)–

24,564

19,573

44,1372,774(1,476)45,435

Segment profit

3,331

2,201

5,532

299

(23)

5,808

Segment assets

28,085

14,76542,8501,875

18,82863,554

1,652
–

857
232

2,509
232

77
–

3
–

2,590
232

4,552

836

5,388

9

155

5,553

Other items
Depreciation
Amortization of goodwill
Increase in property, plantand equipment andintangible assets

Notes: 1. The classification “Other” refers to business segments not included in reportable segments, and includes the warehousing- 13 -

business, engineering, etc.
2. Details of “Adjustment” are as follows:(1) The adjustment of negative ¥23 million on segment profit represents inter-segment transaction eliminations.
(2) The adjustment of ¥18,828 million on segment assets includes negative ¥524 million of elimination of inter-segment
receivables by offsetting, etc. and ¥19,352 million of corporate assets that are not allocated to reportable segments.
(3) The adjustment of ¥3 million on depreciation in other items includes negative ¥46 million of inter-segment transaction
eliminations and ¥49 million of corporate assets that are not allocated to reportable segments.
(4) The adjustment of ¥155 million on increase in property, plant and equipment and intangible assets in other items includes
negative ¥64 million of inter-segment transaction eliminations and ¥219 million of corporate assets that are not allocated toreportable segments.
3. Segment profit is adjusted to operating profit in the consolidated statements of income.

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Fiscal year ended March 31, 2021
(Millions of yen)
Reportable segment

Adjustment(Note 2)

Amountrecorded ontheconsolidated
financialstatements(Note 3)

Electronic
Functional

Material andChemical

BasicBusiness

Chemical

Other(Note 1)

Total

Business
Net sales
Net sales to externalcustomers
Inter-segment sales ortransfers

19,442

17,71337,156

1,245–

38,402

–

–

–

1,479

(1,479)–Segment assets

19,442912
28,43917,713
1,813
14,337

37,156
2,725
42,776

2,725
213
2,025

(1,479)(12)
24,37538,402
2,927
69,177

Other items
Depreciation

1,808

Total
Segment profit

2,628
219

33

–

819
219

75

Amortization of goodwill

–

–

2,737
219

Increase in property, plantand equipment andintangible assets

3,363

1,222

4,585

100

124

4,810

Notes: 1. The classification “Other” refers to business segments not included in reportable segments, and includes the warehousingbusiness, engineering, etc.
2. Details of “Adjustment” are as follows:(1) The adjustment of negative ¥12 million on segment profit represents inter-segment transaction eliminations.
(2) The adjustment of ¥24,375 million on segment assets includes negative ¥532 million of elimination of inter-segment
receivables by offsetting, etc. and ¥24,908 million of corporate assets that are not allocated to reportable segments.
(3) The adjustment of ¥33 million on depreciation in other items includes negative ¥45 million of inter-segment transaction
eliminations and ¥79 million of corporate assets that are not allocated to reportable segments.
(4) The adjustment of ¥124 million on increase in property, plant and equipment and intangible assets in other items includes
negative ¥40 million of inter-segment transaction eliminations and ¥164 million of corporate assets that are not allocated toreportable segments.
3. Segment profit is adjusted to operating profit in the consolidated financial statements.

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VI. History
December 1919
November 1920
October 1938
June 1939
March 1942
April 1942
June 1944
August 1945
April 1951
June 1961
July 1965
April 1967
April 1969
November 1969
May 1973
October 1981
June 1984
August 1989
February 1994
January 1996
April 1997
August 2000
October 2001
September 2006
February 2014
April 2017
January 2018

Teikoku Synthetic Fertilizer Co., Ltd. was founded for the production of superphosphate
fertilizers.
Osaka Factory was built for the production of superphosphate fertilizers and lead-chamber
sulfuric acid.
Equipment was installed in Osaka factory to produce sulfuric acid by the Lurgi Contact
Process, and production of dilute sulfuric acid began.
Production of fluorides, mainly artificial cryolite, began at Osaka Factory.
Okayama Factory was built for the production of fluorides.
Company was renamed Teikoku Kako Co., Ltd.
A plant in Owada, where sulfuric acid was produced by the Monsanto Contact Process, wasacquired.
Production of fluorides at Osaka and Okayama Factories discontinued.
Production of titanium dioxide at Okayama Factory began.
Production of surfactants at Osaka Factory began.
Production of superphosphate fertilizers discontinued.
A warehousing business (Funamachi Warehousing) started in the Osaka Factory premises.
Hyakushima Warehouse, now parts of Tayca Warehousing Co., Ltd., was built in the
Owada Factory premises, where a warehousing business started.
In order to join the Western Japan Sulfuric Acid Center of Dowa Mining Co., Ltd., Owada
Factory discontinued its operation.
To integrate warehousing operations, Tayca Warehousing Co., Ltd., wholly owned by thecompany, was established.
Production of condensed phosphates (K-White, K-Bond and K-Fresh) at Osaka Factorybegan.
Tayca Trading Co., Ltd., wholly owned by the company, was established with the principal
objective of selling chemicals.
Company was renamed Tayca Corporation, marking the 70th anniversary of its foundation.
Obtains ISO 9002 certification for the production of phosphoric acid (Osaka Factory),titanium dioxide products (Okayama Factory) and related products.
In stride with advances in the surface treatment field, Tayca opened its Osafune, Okayama
Factory and production commenced.
Tayca’s development division became a separate entity, and TFT Corporation wasestablished to manufacture and sell electro-ceramic products.
Acquires ISO 14001 certification at Osaka Factory and Okayama Factory.
TAYCA (Thailand) Co., Ltd. was established in Chonburi, Thailand to manufacturesurfactants.
To expand a surface treatment business, Tayca opened its Kumayama Factory andproduction commenced.
TAYCA (VIETNAM) CO., LTD. was established in Dong Nai, Vietnam to manufacturesurfactants.
Established JAPAN SERICITE CORPORATION for the principal objective of selling
sericite products, a joint venture with SANSHIN MINING IND. CO., LTD.
TRS Technologies, Inc. became a subsidiary in order to expand the piezoelectric materials
business.

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VIII. Corporate Data
Basic Information (as of June 25, 2021)
Trade name:
Established:
Listed market:
Listed:Business year:
Capital stock:
Number of employees:
Head office:Telephone:
Consolidated subsidiaries:

Tayca Corporation
December 22, 1919
The First Section of the Tokyo Stock Exchange(Securities Code: 4027)
May 1949
From April 1 to March 31 of the following year
9,855,953,999 yen
558 persons (as of March 31, 2021)
4-11-6 Tanimachi, Chuo-ku, Osaka+81-6-6943-6401
Tayca Warehousing Co., Ltd.
Tayca Trading Co., Ltd.
TFT Corporation
Tayca M&M Corporation
JAPAN SERICITE CORPORATIONTAYCA (Thailand) Co., Ltd.
TAYCA (VIETNAM) CO., LTD.
TRS Technologies, Inc.

Directors and Audit & Supervisory Board Members (as of June 25, 2021)
Chairman
Representative Director, President Executive Officer
Director, Senior Managing Executive Officer
Director, Managing Executive Officer
Director, Senior Executive Officer
Director, Audit and Supervisory Committee Member (Standing)
Director*, Audit and Supervisory Committee Member**Director*, Audit and Supervisory Committee Member**Director*, Audit and Supervisory Committee Member**Director*, Audit and Supervisory Committee Member*** Outside Director

Masao Nagita
Hirofumi Yamazaki
Shunji Idei
Masahiko Nishino
Tamataro Iwasaki
Akira Miyazaki
Hiroyuki Yamada
Hitoshi Tanaka
Koji Yamamoto
Mamiko Ozaki** Outside Audit and Supervisory Committee Member- 17 -

Stock Status (as of March 31, 2021)
Total number of authorized shares:
Total number of issued shares:
Number of shareholders:

75,000,000 shares
25,714,414 shares
3,972

Major shareholders (Top 10)
Number of shares held(Thousands)

Name
QUINTET PRIVATE BANK (EUROPE) S.A.
107704
MITSUI & CO., LTD.
Mitsubishi Corporation
Yamada Sangyo Co., Ltd.
Custody Bank of Japan, Ltd. as trustee for Mizuho
Bank Retirement Benefit Trust Account reentrusted by Mizuho Trust and Banking Co., Ltd.
Tayca Corporation Trading-Partner Shareholding
Association
The Master Trust Bank of Japan, Ltd.
(Trust account)
NIPPON TOCHI-TATEMONO Co., Ltd.
Kansai Paint Co., Ltd.
SUMITOMO CORPORATION

Shareholding ratio (%)

2,903

12.52

1,784
1,630
1,470

7.69
7.03
6.34

1,009

4.35

997

4.30

976

4.21

694
612
500

2.99
2.64
2.15

* In addition to shares described above, Tayca Corporation holds 2,538 thousand shares as treasury shares.

* Annual Select is an English-language disclosure format developed by ZAIHON, INC. to increase the level of convenience of investors outside Japan based on Japanese-language
statutory disclosure material, timely disclosure material prescribed by securities exchanges and voluntarily disclosed IR material. Annual Select is a registered trademark of
ZAIHON, INC. Reproduction or copying without prior permission is prohibited.
* The financial statements in this Annual Select are stated in Japanese yen with amounts of less than one million yen omitted. As a result, the totals shown do not necessarily agreewith the sums of the individual amounts. The translation of Japanese yen amounts into U.S. dollar amounts is included solely for the convenience of investors outside Japan. Suchtranslation is carried out at the rate of ¥110.72 = U.S. $1, the approximate rate of exchange at March 31, 2021, and the resultant amounts are shown with amounts of less than 1,000
U.S. dollars omitted.
* While every best effort has been made to provide a translation meeting the quality standards required of professionals, the Company does not guarantee it is 100% accurate.
Therefore, please verify the original Japanese text for any final judgments made based on this information.

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