For the Fiscal Year Ended March 31, 2020

Annual Select® 2020

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.
Thanks to your support, we at Tayca celebrated our centenary of foundation on December 22, 2019. The
reason that we have survived through so much change in society and the market environment over those
100 years is primarily thanks to the support of our stakeholders. From the fiscal year ending March 31,
2021, we will be moving forward under MOVING-10, which we have formulated as our 10-year long-term
management vision for the start of a new history. Under this vision, we are working to further expand ourbusiness and strengthen our revenue foundation by conducting activities that are more focused on
profitability and accelerating our portfolio shift from general goods to functional goods.

I. Summary of Selected Financial Data (Consolidated)

Net sales

150th term

151st term

152nd term

153rd term

154th term

Fiscal year ended
March 31, 2016

Fiscal year ended
March 31, 2017

Fiscal year ended
March 31, 2018

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2020

36,61838,241

42,521

47,38545,435

4,873

5,969

6,108

6,033

5,798

3,218

4,070

3,624

4,007

3,830

1,852

5,560

4,422

3,029

3,056

34,344

39,22443,04345,356

46,94048,19853,97558,84363,91663,554723.07

1,659.21

1,819.24

1,916.26

2,010.70

67.64

172.41

154.13

170.47163.70

–

–

–

–

–

70.9

72.3

72.7

70.5

73.3

9.6

11.1

8.9

9.1

8.4

7.8

8.8

18.3

14.9

8.7

5,743

7,375

4,002

4,830

5,165

(2,881)(1,749)(4,992)(3,787)(5,498)(1,708)(1,459)

(536)

1,270

(2,346)

8,461

12,614

11,086

13,388

10,713

628

645

702

758

793

(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 154th term (from April 1, 2019 to March 31,2020) has ended and as such we hereby offer the following report
regarding the settlement of accounts, etc.

Hirofumi Yamazaki
Representative Director, President Executive Officer

III. Performance for the Current Fiscal Year
During the fiscal year ended March 31, 2020 (the “current fiscal year”), the Group posted net sales of ¥45,435
million (down 4.1% from the previous fiscal year). This reflected weak sales both in Japan and abroad forgeneral usage titanium dioxide and surfactants despite firm sales of functional fine particle products forcosmetics and conductive polymers and related products for capacitors.
Meanwhile, mainly owing to an increased depreciation burden accompanying extension work for the
manufacturing facility for functional fine particle products, operating profit was ¥5,808 million (up 0.1% fromthe previous fiscal year) and ordinary profit was ¥5,798 million (down 3.9% from the previous fiscal year).
Profit attributable to owners of parent was ¥3,830 million (down 4.4% from the previous fiscal year) as a resultof extraordinary loss including the recognition of impairment loss, etc. associated with the Vietnam subsidiary,
despite the recording of a gain on sales of investment securities.
For the current fiscal year, Tayca plans to pay a year-end dividend of ¥22 per share, bringing the annual dividend
to ¥40 per share when combined with the interim dividend, which was ¥18 per share.
Business Related to Titanium Dioxide
In regard to general usage titanium dioxide, both sales volume and net sales fell year on year owing to weaksales for paints both in Japan and abroad.
In regard to specialty use micro titanium dioxide and surface treatment products, demand for cosmetics products
both in Japan and abroad 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 ¥24,564 million (up 0.3% from the previous fiscal year)
and segment profit was ¥3,331 million (down 7.1% from the previous fiscal year).
Other Business
Meanwhile, in regard to surfactants, sales volume and net sales decreased year on year as sales in Japan for
detergents were weak and sales by consolidated subsidiaries in Thailand and Vietnam were also weak.
In regard to conductive polymers and related products for capacitors, sales were robust, which led to year-onyear increases for both sales volume and net sales.

-2-Sales volume and net sales of sulfuric acid and pollution-free anti-corrosive pigment were on lower than theprevious fiscal year due to the effects of a lull in demand.
Net sales in the warehousing business exceeded those of the previous fiscal year due to year-on-year rises in thequantity of items in storage.
In regard to piezoelectric materials, net sales decreased year on year due to inventory adjustments by customersof those for medical devices and those for washing machines.
As a result of the above, net sales for this business were ¥20,870 million (down 8.8% from the previous fiscal
year), and segment profit was ¥2,500 million (up 10.9% from the previous fiscal year).

Operating profit (millions of yen)

Net sales (millions of yen)150th term

151st 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 ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

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)

152nd term 153rd term 154th term

Profit attributable toowners of parent (millions of yen)

Ordinary profit (millions of yen)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 ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended(Fiscal year ended

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 the economic outlook, while it remains difficult to predict when the novel coronavirus disease(COVID-19) will clear up, there is an ever-rising risk of a sudden economic downturn both in Japan and abroad
and we expect the economic environment to become more severe.
The spread of COVID-19 is affecting the economy in a broad range of ways. The Group expects those effects tocontinue for a certain part of the fiscal year ending March 31, 2021, based on the external information, etc.
Regarding general usage titanium dioxide, due to an expected decline in demand for automotive paints, thesituation is expected to become more difficult on the earnings front. In regard to specialty use micro titanium
dioxide, micro zinc oxide, and surface treatment products, as there is concern over the effects on demand for
ultra-violet (UV) radiation protection, which is a primary use for the above-mentioned products, we are closely
watching future developments and working to maintain and further expand sales of these products.
Regarding surfactants, due to an expected rise in demand for daily goods such as detergents, sales are expected
to strengthen. As for conductive polymers and related products for capacitors and piezoelectric materials for
medical devices, we will work to expand sales to respond to an expected increase in demand.
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.

-4-

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

As of March 31,
2019

As of March 31,
2020

As of March 31,
2020

13,467
14,768
5,043
775
3,119
438
(2)
37,60910,792
13,302
6,913
982
3,728
546
(2)
36,261

99,163
122,227
63,521
9,023
34,2555,016(18)
333,189

4,447
4,962
1,291
2,362
468
13,532

5,151
5,646
1,699
2,959
444
15,90147,33051,87915,611
27,1894,079
146,108

2,117
74
2,191

1,858
274
2,133

17,072
2,517
19,599

9,736
444
64
361
(23)
10,583
26,307
63,916

8,435
481
71
292
(23)
9,258
27,29363,55477,506
4,419
652
2,683
(211)
85,068250,785
583,975

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,
2019

As of March 31,
2020

As of March 31,
2020

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

4,787
605
754
1,034
405
3,346
10,93443,986
5,559
6,928
9,501
3,721
30,745
100,468

2,408
120
981
16
1
3,327
–
6,856
18,560

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

15,179
817
5,586
147
9
29,734689
52,182
152,650

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

9,855
6,766
28,551(2,458)42,71490,55462,170262,344(22,585)
392,483

4,856

4,008

36,828

33
48
(241)
4,698
306
45,356
63,916

(85)
112
(151)
3,885
340
46,94063,554(781)
1,029(1,387)35,6973,124
431,314583,975

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, 2019

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2020

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

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

417,485
303,886
113,590
60,22253,367

3
221
14
63
302

3
225
–
68
296

27
2,067
–
624
2,719

42
9
–
9
11
73
6,033

45
81
87
36
55
307
5,798

413
744
799
330
505
2,820
53,275

–
–

425
425

3,905
3,905

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

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

2,839
1,488
229
128
36
4,732
52,44817,127(73)
17,04435,394202
35,192

Net 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
Compensation for damage
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Extraordinary losses
Impairment loss
Loss on retirement of non-current assets
Loss on valuation of investments in capital
Loss on valuation of investment securities
Loss on sales of golf club memberships
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, 2019

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2020

4,053

3,852

35,394

(859)
22
(160)

(848)
(118)
81

(7,791)(1,084)
744

(27)

90

826

(1,024)
3,029

(795)
3,056

(7,304)28,080

2,987

3,017

27,722

41

39

358

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 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, 2019
(Millions of yen)
Shareholders’ equity
Share capital
Balance at beginning of
periodCapital surplus

9,855

Retained earnings

6,766

Treasury shares

22,217

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

Changes during period
Dividends of surplus

(705)

(705)

Profit attributable toowners of parent

4,007

4,007

Purchase of treasury shares

(2)

(2)

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

–

–

3,302

(2)

3,299

9,855

6,766

25,520(1,791)40,351

Accumulated other comprehensive income

Balance at beginning of
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

Changes during period
Dividends of surplus(705)

Profit attributable toowners of parent

4,007

Purchase of treasury shares(2)

Net changes in items otherthan shareholders’ equity

(859)

22

(156)

(27)

(1,020)33(987)

Total changes during period

(859)

22

(156)

(27)

(1,020)33

2,312

Balance at end of period

4,856

33

48

(241)

4,698

306

45,356-9-

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- 10 -

Fiscal year ended March 31, 2020
(Thousands of U.S. dollars)
Shareholders’ equity
Share capital
Balance at beginning of
periodCapital surplus

90,554Retained earnings

62,170Total shareholders’equityTreasury shares

234,494(16,456)

370,770

Changes during period
Dividends of surplus(7,341)(7,341)

Profit attributable toowners of parent

35,19235,192

Purchase of treasury shares(6,128)(6,128)

Disposal of treasury shares

00

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

27,841(6,128)21,71290,55462,170262,344(22,585)

392,483

Accumulated other comprehensive income

Balance at beginning of
periodValuationdifference on
availablefor-salesecurities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

44,620

303

441

Total
Non-controlling
Remeasurements accumulated
interestsof definedotherbenefit planscomprehensive
income(2,214)

43,1682,811

Total net
assets416,760

Changes during period
Dividends of surplus(7,341)

Profit attributable toowners of parent

35,192

Purchase of treasury shares(6,128)

Disposal of treasury shares0

Net changes in items otherthan shareholders’ equity(7,791)(1,084)588

826(7,461)

312(7,148)

Total changes during period(7,791)(1,084)588

826(7,461)

312

14,554

Balance at end of period

36,828

(781)

1,029

(1,387)35,6973,124

431,314- 11 -

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

Fiscal year ended
March 31, 2019

Fiscal year ended
March 31, 2020

Fiscal year ended
March 31, 2020

5,860
2,054
235
–
–
173
57
(224)
42
(1,421)
(318)
148
63
(24)
6,645
224
(42)
(1,997)
4,830

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

52,44823,7982,131(3,905)
2,839
1,488
349
(2,095)413
14,490(24,552)(5,421)(1,543)
1,065
61,4992,095(413)(15,721)47,459(3,458)
(11)
0
(317)
(3,787)(5,534)
(11)
536
(489)
(5,498)(50,849)
(101)
4,925
(4,493)(50,519)

(119)
3,177
(1,046)
(2)
(701)
(8)
(27)
1,270

(66)
–
(777)
(667)
(798)
(5)
(31)
(2,346)(606)–(7,139)(6,128)(7,332)(45)(284)(21,556)

(11)

4

36

2,301
11,086
13,388(2,675)
13,388
10,713(24,579)
123,017
98,437

Cash flows from operating activities
Profit before income taxes
Depreciation
Amortization of goodwill
Loss (gain) on sales of investment securities
Impairment loss
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 sales 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 -

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, 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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Fiscal year ended March 31, 2020
(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

24,564–20,870900

45,435
900

–
(900)

45,435–

Total

24,564

21,771

46,336(900)

45,435

Segment profit

3,331

2,500

5,831

(23)

5,808

Segment assets

28,085

16,64044,725

18,82863,554

1,652
–

935
232

2,587
232

3
–

2,590
232

4,552

845

5,397

155

5,553

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 ¥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.

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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 25, 2020)
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
525 persons (as of March 31, 2020)
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 25, 2020)
Chairman
Representative Director, President Executive Officer
Director, 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
Masahiko Nishino
Shunji Idei
Tamataro Iwasaki
Akira Miyazaki
Hiroyuki Yamada
Hitoshi Tanaka
Koji Yamamoto
Mamiko Ozaki** Outside Audit and Supervisory Committee Member- 16 -

Stock Status (as of March 31, 2020)
Total number of authorized shares:
Total number of issued shares:
Number of shareholders:

75,000,000 shares
25,714,414 shares
3,995

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 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

Number of shares held(Thousands)
2,918
1,784
1,630
1,470

Shareholding ratio (%)
12.59
7.69
7.03
6.34

1,009

4.35

976

4.21

864

3.73

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 ¥108.83 = U.S. $1, the approximate rate of exchange at March 31, 2020, 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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