For the Fiscal Year Ended March 31, 2019

Annual Select® 2019

Tayca Corporation
3-6-13 Kitahama, Chuo-ku, Osaka(Securities Code: 4027)+81-6-6208-6400

Corporate Profile
The history of “Tayca Corporation” dates back to 1919, when the company was founded as “Teikoku Jinzo
Fertilizer Co., Ltd.,” with sulfuric acid and superphosphate fertilizer as its key products. Ever since its
foundation, based on the sulfuric acid-related technology, we have devoted ourselves to the production andmarketing of various industrial chemical products, adapting ourselves to the changing needs of time andsociety. These products include items such as titanium dioxide, surfactants, and various types ofphosphates.
At present, we utilize sulfonation, surface treatment, and dispersion technologies that we have perfected
over many years to create specialty products, including conductive polymers and related products for highperformance capacitors, and surface treatment products and micro titanium dioxide for cosmetics. We are
likewise working actively to extend these technologies to expand our business. At the same time, we are
striving to construct new businesses that will support Tayca in the future. Our targets include theenvironment and energy sector, the electrical and electronics sector, and the medical and health care sector,
and we are working towards the early commercialization of new products in these sectors.
In 2019, Tayca will celebrate the 100th anniversary of its foundation. To mark this occasion, we definedwhat the ideal future for Tayca is in our “Challenge 100” vision, and ensured that it was common
knowledge for all of our employees. Also, under the motto of “Let’s fly to our limitless future,” we plan on
working towards revitalizing our personnel and organization and build a stronger management structure.

I. Summary of Selected Financial Data (Consolidated)

Net sales

149th term

150th term

151st term

152nd term

153rd term

Fiscal year ended
March 31, 2015

Fiscal year ended
March 31, 2016

Fiscal year ended
March 31, 2017

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 201937,12036,61838,241

42,521

47,385

3,920

4,873

5,969

6,108

6,033

2,460

3,218

4,070

3,624

4,007

4,646

1,852

5,560

4,422

3,029

33,11334,344

39,22443,04345,356

48,12648,19853,97558,84363,916691.58723.07

1,659.21

1,819.24

1,916.26

50.26

67.64

172.41

154.13

170.47

–

–

–

–

–

68.4

70.9

72.3

72.7

70.5

7.8

9.6

11.1

8.9

9.1

8.6

7.8

8.8

18.3

14.9

4,675

5,743

7,375

4,002

4,830

(2,254)(2,881)(1,749)(4,992)(3,787)(747)(1,708)(1,459)

(536)

1,270

7,334

8,461

12,614

11,086

13,388

617

628

645

702

758

(Millions of yen)

Ordinary profit(Millions of yen)

Profit attributable to owners ofparent(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 (used in)operating activities(Millions of yen)

Net cash provided by (used in)investing activities(Millions of yen)

Net cash provided by (used in)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
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 153rd term (from April 1, 2018 to March 31, 2019) has
ended and as such we hereby offer the following report regarding thesettlement of accounts, etc.

Masao Nagita
President

III. Performance for the Current Fiscal Year
During the fiscal year ended March 31, 2019 (the “current fiscal year”), the Group posted net sales of ¥47,385
million (up 11.4% from the previous fiscal year). In addition to the contribution from the higher net sales fromconsolidated subsidiaries, such as TRS Technologie, Inc. in the United States, which was made a subsidiary inJanuary 2018, other factors included the continuing strong sales of specialty use micro titanium dioxide andsurface treatment products.
Meanwhile, mainly owing to a rise in manufacturing costs related to titanium ore and fuels, operating profit was¥5,803 million (down 4.0% from the previous fiscal year), ordinary profit was ¥6,033 million (down 1.2% fromthe previous fiscal year), and profit attributable to owners of parent was ¥4,007 million (up 10.6% from theprevious fiscal year).
Business Related to Titanium Dioxide
Net sales of general usage titanium dioxide rose year on year as sales in Japan were generally level year on year
while exports benefited from an increase in orders, mainly from the Southeast Asian market.
In regard to specialty use micro titanium dioxide and surface treatment products, domestic sales and exports forcosmetics products were strong and both sales volume and net sales increased year on year.
As a result of the above, net sales for this business were ¥24,495 million (up 7.0% from the previous fiscal year).
Other BusinessWith regard to sales of surfactants in Japan, sales to the daily-use items such as detergents, which are the primary
use of these products, were robust, with both sales volume and net sales increasing year on year. Meanwhile,
sales by consolidated subsidiaries in Thailand and Vietnam were strong, and net sales increased year on year.
Sales volume and net sales of sulfuric acid maintained stable year-on-year levels.
In regard to pollution-free anti-corrosive pigment, although sales in Japan were on par with the previous fiscal
year, both sales volume and net sales rose year on year in exports.
In regard to conductive polymers and related products, sales for capacitors proceeded briskly, which led to
year-on-year increases for both sales volume and net sales.

-2-The warehousing business was impacted from the strong wind and rain damage caused by typhoons but net sales
maintained the same level year on year.
Piezoelectric materials realized an increase in net sales year on year due to strong sales for medical devices andthe contribution from the current fiscal year of sales by the consolidated subsidiary in the United States.
As a result of the above, net sales for this business were ¥22,890 million (up 16.6% from the previous fiscal
year).

Operating profit (millions of yen)

Net sales (millions of yen)

(Forecast)(Forecast)

150th term

151st term

152nd term

153rd term

154th term

150th term

151st term

152nd term

153rd term

154th term

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

March 31, 2016)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2016)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

Profit attributable toowners of parent (millions of yen)

Ordinary profit (millions of yen)
(Forecast)(Forecast)

150th term

151st term

152nd term

153rd term

154th term

150th term

151st term

152nd term

153rd term

154th term

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

March 31, 2016)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)

March 31, 2016)

March 31, 2017)

March 31, 2018)

March 31, 2019)

March 31, 2020)-3-

IV. Forecasts for the Next Fiscal Year
Regarding general usage titanium dioxide, although demand is currently stronger than supply, supply anddemand is expected to reach equilibrium. Also taking into account the continued rise in fuel prices, earnings
situation is expected to become more difficult in the future.
In regard to specialty use micro titanium dioxide, micro zinc oxide, and surface treatment products, as global
interest has increased for ultra-violet (UV) radiation protection and because demand continued to be strong forthe above-mentioned products as a treatment for preventing damage caused by UV radiation, the market for themis expected to expand in the future. Accordingly, we are actively investing in production facilities and working to
expand sales of these products.
In regard to surfactants, while expansion of demand in the Japanese detergent market is not expected, Tayca is
working hard in the detergent market in Southeast Asia to expand the sales operations of the Thailand subsidiary(TAYCA (Thailand) Co., Ltd.) and the Vietnam subsidiary (TAYCA (VIETNAM) CO., LTD.), and to further
boost its competitive capabilities by ensuring cooperation among the three manufacturing locations, including
Japan.
In regard to conductive polymers and related products for capacitors and piezoelectric materials for medical
devices, Tayca expects these markets to expand and is working to expand sales.
In regard to the consolidated performance for the next fiscal year, Tayca expects net sales of ¥52,000 million,
operating profit of ¥6,800 million, ordinary profit of ¥7,000 million, and profit attributable to owners of parentof ¥4,500 million.

-4-

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

As of March 31,
2018

As of March 31,
2019

As of March 31,
201911,165
13,381
4,668
731
3,239
447
(2)
33,63013,467
14,768
5,043
775
3,119
438
(2)
37,609121,313133,033
45,428
6,981
28,0963,945(18)338,789

4,316
4,790
1,294
291
431
11,123

4,447
4,962
1,291
2,362
468
13,53240,05944,698
11,62921,277
4,215
121,898

2,393
58
2,452

2,117
74
2,191

19,070666
19,736

10,956
290
57
356
(23)
11,63625,212
58,843

9,736
444
64
361
(23)
10,583
26,307
63,91687,703
3,999
576
3,251
(207)
95,333236,978575,767

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,
2018

As of March 31,
2019

As of March 31,
2019

5,234
761
1,019
1,084
381
2,538
11,020

5,343
630
777
878
384
3,690
11,704

48,130
5,675
6,999
7,909
3,459
33,240105,431

35
152
1,343
16
1
3,230
4,779
15,800

2,408
120
981
16
1
3,327
6,856
18,56021,691
1,080
8,837
144
9
29,97061,760167,192

9,855
6,766
22,217(1,788)37,052

9,855
6,766
25,520(1,791)40,351

88,77560,949229,889(16,133)
363,489

5,716

4,856

43,743

11
205
(213)
5,718
272
43,04358,843

33
48
(241)
4,698
306
45,356
63,916297
432(2,170)42,3202,756
408,575
575,767

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
Total current liabilities
Non-current liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Long-term accounts payable - other
Provision for environmental measures
Retirement benefit liability
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
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, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2019

42,52130,543
11,9775,935
6,042

47,38535,29012,0956,291
5,803

426,853
317,899
108,954
56,67052,274

5
178
–
53
237

3
221
14
63
302

27
1,990
126
567
2,720

33
7
120
9
171
6,108

42
9
–
20
73
6,033

378
81
–
180
657
54,346

472
142
1
616
5,491
1,882
(48)
1,834
3,657
33
3,624

–
173
–
173
5,860
1,795
11
1,806
4,053
45
4,007

–
1,558
–
1,558
52,78816,16999
16,26836,510405
36,095Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on abandonment of inventories
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary losses
Impairment loss
Loss on retirement of non-current assets
Other
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-

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

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2019

3,657

4,053

36,510

611
53
102
(2)
765
4,422

(859)
22
(160)
(27)
(1,024)
3,029(7,738)198(1,441)(243)(9,224)27,285

4,375

2,987

26,907

46

41

369

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparentComprehensive income attributable tonon-controlling interests-8-(3) Consolidated Statements of Changes in Equity
Fiscal year ended March 31, 2018
(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Changes of items during
periodCapital surplus

9,855

Retained earnings

6,766

Treasury shares

19,204

Total shareholders’equity(1,780)34,047

Dividends of surplus

(611)

(611)

Profit attributable toowners of parent

3,624

3,624

Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

(8)

(8)

–

–

3,012

(8)

3,004

9,855

6,766

22,217(1,788)37,052

Accumulated other comprehensive income
Valuationdifference on
availablefor-salesecurities
Balance at beginning ofcurrent period
Changes of items during
period5,104

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

(42)

116

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income
(211)

4,967

209

Total net
assets39,224

Dividends of surplus(611)

Profit attributable toowners of parent

3,624

Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

(8)
611

53

89

(2)

751

62

814

611

53

89

(2)

751

62

3,819

5,716

11

205

(213)

5,718

272

43,043-9-

Fiscal year ended March 31, 2019
(Millions of yen)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Changes of items during
periodCapital surplus

9,855

Retained earnings

6,766

Treasury shares

22,217

Total shareholders’equity(1,788)37,052

Dividends of surplus

(705)

(705)

Profit attributable toowners of parent

4,007

4,007

Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

(2)

(2)

–

–

3,302

(2)

3,299

9,855

6,766

25,520(1,791)40,351

Accumulated other comprehensive income

Balance at beginning ofcurrent period
Changes of items during
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

5,716

11

205

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income
(213)

5,718

272

Total net
assets

43,043

Dividends of surplus(705)

Profit attributable toowners of parent

4,007

Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

(2)
(859)

22

(156)

(27)

(1,020)

33

(987)

(859)

22

(156)

(27)

(1,020)

33

2,312

4,856

33

48

(241)

4,698

306

45,356- 10 -

Fiscal year ended March 31, 2019
(Thousands of U.S. dollars)
Shareholders’ equity
Capital stock
Balance at beginning ofcurrent period
Changes of items during
periodCapital surplus

88,775Retained earnings

60,949Treasury shares

200,135

Total shareholders’equity(16,106)

333,771

Dividends of surplus(6,350)(6,350)

Profit attributable toowners of parent

36,09536,095Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period

(18)

(18)

–

–

29,745(18)

29,71888,77560,949229,889(16,133)

363,489

Accumulated other comprehensive income

Balance at beginning ofcurrent period
Changes of items during
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

51,490

99

1,846

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income(1,918)51,5082,450

Total net
assets387,739

Dividends of surplus(6,350)

Profit attributable toowners of parent

36,095Purchase of treasury shares
Net changes of items otherthan shareholders’ equity
Total changes of items during
periodBalance at end of current
period(18)(7,738)198(1,405)(243)(9,188)297(8,891)(7,738)198(1,405)(243)(9,188)297

20,82643,743297

432(2,170)42,3202,756

408,575- 11 -

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

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2019

5,491
1,986
–
142
38
(183)
33

5,860
2,054
235
173
57
(224)
42

52,78818,502
2,116
1,558
513
(2,017)378(1,712)(1,421)(12,800)(1,576)(318)(2,864)

1,315

148

1,333

(261)
475
5,749
183
(33)
(1,897)
4,002

63
(24)
6,645
224
(42)
(1,997)
4,830

567
(216)
59,8592,017(378)(17,989)
43,509(2,134)(10)(2,749)(97)(4,992)(3,458)
(11)
–
(317)
(3,787)(31,150)(99)–(2,855)(34,114)

605
–
(516)

(119)
3,177
(1,046)(1,071)
28,619(9,422)

25

–

–

(8)
(609)
(8)
(24)
(536)

(2)
(701)
(8)
(27)
1,270

(18)
(6,314)(72)(243)
11,440

(2)

(11)

(99)

(1,528)
12,614
11,086

2,301
11,086
13,38820,72799,864
120,601

Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss on retirement of non-current assets
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Decrease (increase) in notes and accounts receivable- tradeDecrease (increase) in inventories
Increase (decrease) in notes and accounts payable trade
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividend income received
Interest expenses 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
Purchase of shares of subsidiaries
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from share issuance to non-controllingshareholders
Purchase of treasury shares
Cash 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 -

VI. 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: Business Related to Titanium Dioxide and Other Business.
Business Related to Titanium Dioxide involves the production of products related to titanium dioxide, etc., at thefactory in the Okayama region, and Other Business primarily involves the production of products, etc., centeredon sulfonation at the Osaka Factory.
Main products belonging to each segment are as follows:(1) Business Related to Titanium Dioxide:
Titanium dioxide, micro titanium dioxide, micro zinc oxide, surface treatment products, photocatalytic
titanium dioxide, etc.
(2) Other Business:
Surfactants, sulfuric acid, pollution-free anti-corrosive pigment, conductive polymers and related products,
piezoelectric materials, 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, 2018
(Millions of yen)
Reportable segment

Amountrecorded on the
consolidated
financialstatements

Business
Related toTitanium
DioxideOther BusinessTotal

Net sales
Net sales to external customers
Inter-segment sales or transfers

22,883–

19,637755

42,521
755

–
(755)

42,521–

Total

22,883

20,392

43,276(755)

42,521

Segment profit

4,319

1,739

6,058

(16)

6,042

Segment assets

20,071

17,47937,551

21,292

58,843

1,182

807

1,989

(2)

1,986

916

722

1,638

40

1,679

Other items
Depreciation
Increase in property, plant andequipment and intangible assets

Adjustment(Notes)

Notes: 1. Details of “Adjustment” are as follows:(1) The adjustment of negative ¥16 million on segment profit represents inter-segment transaction eliminations.
(2) The adjustment of ¥ 21,292 million on segment assets includes negative ¥876 million of elimination of inter-segment
receivables by offsetting, etc. and ¥22,169 million of corporate assets that are not allocated to reportable segments.
2. Segment profit is adjusted to operating profit in the consolidated financial statements.

- 13 -

Fiscal year ended March 31, 2019
(Millions of yen)
Reportable segment

Amountrecorded on the
consolidated
financialstatements

Business
Related toTitanium
DioxideOther BusinessTotal

Net sales
Net sales to external customers
Inter-segment sales or transfers

24,495–22,890855

47,385
855

–
(855)

47,385–

Total

24,49523,74648,241(855)

47,385

Segment profit

3,584

2,254

5,839

(35)

5,803

Segment assets

23,426

18,061

41,48822,42863,916

1,197
–

866
235

2,064
235

(9)
–

2,054
235

3,741

895

4,637

(43)

4,593

Other items
Depreciation
Amortization of goodwill
Increase in property, plant andequipment and intangible assets

Adjustment(Notes)

Notes: 1. Details of “Adjustment” are as follows:(1) The adjustment of negative ¥35 million on segment profit represents inter-segment transaction eliminations.
(2) The adjustment of ¥22,428 million on segment assets includes negative ¥532 million of elimination of inter-segment
receivables by offsetting, etc. and ¥22,960 million of corporate assets that are not allocated to reportable segments.
2.

Segment profit is adjusted to operating profit in the consolidated financial statements.

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VII. 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
June 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 26, 2019)
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 1924
From April 1 to March 31 of the following year
9,855,953,999 yen
498 persons (as of March 31, 2019)
3-6-13 Kitahama, Chuo-ku, Osaka+81-6-6208-6400
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 26, 2019)
Representative Director, President Executive Officer
Representative Director, Senior Managing Executive Officer
Director, Managing Executive Officer
Director, Senior 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
Takeshi Hemmi
Masahiko Nishino
Shunji Idei
Akira Miyazaki
Hiroyuki Yamada
Hitoshi Tanaka
Koji Yamamoto
Mamiko Ozaki** Outside Audit and Supervisory Committee Member- 16 -

Stock Status (as of March 31, 2019)
Total number of authorized shares:
Total number of issued shares:
Number of shareholders:

75,000,000 shares
25,714,414 shares
3,647

Major shareholders (Top 10)
Name
KBL EPB S.A. 107704
MITSUI & CO., LTD.
Mitsubishi Corporation
Yamada Sangyo Co., Ltd.
Trust & Custody Services Bank, Ltd. as trustee forMizuho Bank Retirement Benefit Trust Accountre-entrusted by Mizuho Trust and Banking Co.,Ltd.
Tayca Corporation Trading-Partner Shareholding
Association
Japan Trustee Services Bank, Ltd. (Trust account)
NIPPON TOCHI-TATEMONO Co., Ltd.
The Master Trust Bank of Japan, Ltd.
(Trust account)
Kansai Paint Co., Ltd.

Number of shares held(Thousands)
2,390
1,784
1,630
1,470

Shareholding ratio (%)
10.16
7.58
6.93
6.25

1,009

4.29

959

4.08

805
694

3.42
2.95

675

2.87

612

2.60

* In addition to shares described above, Tayca Corporation holds 2,205 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 ¥111.01 = U.S. $1, the approximate rate of exchange at March 31, 2019, 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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