Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022
<Under Japanese GAAP>May 10, 2022
These financial statements have been prepared for reference only in accordance with accounting principles and practices generally accepted in Japan.

Stock exchange listing: Tokyo (Prime Market)
NAGASE & CO., LTD.
Code number:8012
URL (https://www.nagase.co.jp/english/)Representative:
Kenji Asakura, Representative Director and President
Contact:
Yoshihisa Shimizu, Executive Officer, General Manager, Corporate Management Department
TEL:+81-3-3665-3103
Annual general meeting of stockholders (scheduled): June 20, 2022
Start of distribution of dividends (scheduled): June 21, 2022
Securities report filing (scheduled): June 21, 2022
Supplementary documents: Yes
Investors’ meeting: Yes(Note: Amounts have been rounded down to the nearest million yen.)

1.

Consolidated Results for the Fiscal Year Ended March 31, 2022
(April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results
Net salesFYE March 2022
FYE March 2021

Gross profit(% = year-on-year change)

Operating income

Ordinary income

Profit attributable toowners of the parent

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

780,557
625,24524.8

139,494
114,600

21.7
9.2

35,263
21,91660.9
14.3

36,49722,85459.7
19.8

25,93918,829

37.8
24.3

－

(Notes) 1. Comprehensive income

FYE March 2022:¥28,608 million (10.3% decrease)

FYE March 2021:¥31,887 million (790.7%)

2. At the beginning of the fiscal year ended March 2022, the Company adopted the Accounting Standard for Revenue
Recognition (Accounting Standards Board of Japan (ASBJ) Statement No. 29, March 31, 2020). Results for the fiscal year
ended March 2021 reflect a retroactive application of this accounting standard. As a result, net sales affected by thisretroactive application do not show the year-on-year rate of change in the fiscal year ended March 2021.
Earnings per
share

Earnings per
share (diluted)

Return on equity

Ordinary income/total assets

Operatingincome/net sales

Yen

Yen

%

%

%

FYE March 2022
FYE March 2021

213.46151.91




7.7
5.9

5.3
3.7

4.5
3.5

(Reference)Equity in earnings of affiliates

FYE March 2022:
FYE March 2021:(¥1,031) million(¥327) million(2) Consolidated Financial Position
Total assets
FYE March 2022
FYE March 2021
(Reference)Equity capital

Net assets

Shareholders’equity ratio

Net assets per share

Millions of yen

Millions of yen%

Yen

739,720
640,587

355,092
338,43146.5
51.5

2,868.22
2,670.09

FYE March 2022:
FYE March 2021:¥344,261 million¥329,687 million(3) Consolidated Cash Flows
Cash flows fromoperating activitiesFYE March 2022
FYE March 2021

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents, end of theyear

Millions of yen

Millions of yen

Millions of yen

Millions of yen(17,776)
20,391(7,664)
2,643

27,282(25,866)

53,33648,553

2.

Dividends
Annual Dividends per Share
Fiscal
2Q
3Q
year end

1Q

Total dividends
paid

Annual(full fiscal year)

Dividends/

Payout ratio

net assets(consolidated)(consolidated)

Yen

Yen

Yen

Yen

Yen

Millions of yen

%

%





22.00
24.00
30.00





24.00
30.00
30.00

46.00
54.00
60.00

5,691
6,514

30.3
25.1
24.7

1.8
1.9

FYE March 2021
FYE March 2022
FYE March 2023 (forecast)(Note) A year-end dividend for FYE March 2022 includes regular dividend of ¥24 per share and special dividend of ¥6
per share.
3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2023
(April 1, 2022 to March 31, 2023)(% = year-on-year change)

Gross profit
Full fiscal year

Operating income

Profit attributable toowners of the parent

Ordinary income

Earnings per
share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

159,000

14.0

38,0007.8

39,0006.9

28,5009.9241.35* Notes(1) Changes in major subsidiaries during the period (changes in specified subsidiaries accompanying changes in thescope of consolidation): No
New: ― (Company name:)
Excluded: ― (Company name:)(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial
statements after error correctionsi.
Changes in accordance with revisions to accounting and other standards: Yes
ii. Changes in items other than (i) above: Noiii. Changes in accounting estimates: No
iv. Restatement of prior period financial statements after error corrections: No(Note) For details, please refer to 3. Consolidated Financial Statements and Notes (5) Notes Related to Consolidated Financial
Statements (Change in Accounting Policy), on P.16 of this document.

(3) Number of shares issued and outstanding (common stock)i.
Number of shares issued and outstanding as of the fiscal period end (including treasury stock)
March 31, 2022
120,908,285 shares March 31, 2021
124,408,285 shares
ii.

iii.

Number of treasury stock as of the fiscal period end
March 31, 2022
881,767 shares

March 31, 2021

933,995 shares

Average number of shares during the period
121,522,286 shares
March 31, 2022

March 31, 2021

123,955,784 shares* These consolidated financial statements are not subject to audit by an independent audit corporation* Cautionary Statement with Respect to Forecasts of Consolidated Business Results
The earnings forecasts presented in this document are based upon currently available information and assumptions deemed rational. A
variety of factors could cause actual results to differ materially from forecasts.
For matters related to earnings forecasts, please refer to 1. Business Performance, (4) Future Outlook, on P.6 of this document.

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Attachments
1. Business Performance2(1) Review of Business Performance2(2) Review of Financial Position

5(3) Summary of Cash Flows

5(4) Future Outlook

6(5) Dividend Policy and Dividends for the Fiscal Years Ending March 2021 and 2022

7

2. Basic Policy on the Selection of Accounting Standards

7

3. Consolidated Financial Statements and Notes

8(1) Consolidated Balance Sheets

8(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

10(3) Consolidated Statements of Changes in Shareholders’ Equity

12(4) Consolidated Statements of Cash Flows

14(5) Notes Related to Consolidated Financial Statements

16(Assumption for Going Concern)

16(Change in Accounting Policy)

16(Additional Information)

16(Segment Information, etc.)

17(Per-Share Data)

23(Significant Subsequent Events)

23

- 1 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

1. Business Performance(1) Review of Business Performancea.

General Summary of Results

The global economy during the consolidated fiscal year under review experienced a general recovery in activities that had
been stagnant due to the spread of COVID-19, as regulations were eliminated or eased in response to the progress of a thirdround of vaccinations across various countries. Throughout the year, uncertainty intensified due to soaring raw materials
prices, the impact of semiconductor shortages, ongoing logistics disruptions, and the escalation of the situation in Ukraine.
However, it was also a year in which many felt we were entering an era of the new normal.
Among the regions where the NAGASE Group operates, economic activity remained strong particularly in Greater China,
which demonstrated a significant recovery. In North America, recovery in employment and expansion of personal consumption
resulted in stabilized economic activity overall. In Japan, corporate earnings improved; however, measures to prevent
infections had a limiting effect on personal consumption and failed to generate a significant economic recovery.
In this environment, the NAGASE Group contributed to the maintenance of supply chains in related industries andexperienced earnings growth. As a result of the preceding, earnings for the current consolidated fiscal year were as follows.
(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year
ChangeChange (%)(March 31, 2021)(March 31, 2022)
Net sales

625,245

780,557

155,31224.8

Gross profit

114,600

139,494

24,894

21.7

Operating income

21,91635,263

13,346

60.9

Ordinary income

22,85436,497

13,643

59.7

Profit before income taxes
Profit attributable to owners

29,27239,557

10,28435.1

18,82925,939

7,109

37.8

of the parent*

At the beginning of the current consolidated fiscal year, the Company adopted the Accounting Standard for Revenue
Recognition (ASBJ Statement No. 29, March 31, 2020). Indicators for the previous fiscal year reflect a retroactive applicationof this accounting standard.
・ For performance in the current fiscal year, higher profit in all segments resulted in all stages of profit below gross profit
reaching record highs.
・ Factors behind the higher profits were the recovery of the automobile-related business, which was greatly affected by
COVID-19 in the first half of the prior consolidated fiscal year, the continued strong performance of the electronics-related
business and resins business from the second half of the prior consolidated fiscal year, and performance of the Prinova
Group in the Life & Healthcare Segment driving up profits. For details, see b. Segment Summary.
・ Profit attributable to owners of the parent amounted to ¥25.9 billion, up ¥7.1 billion, mainly due to the impact of loss on
valuation of investment securities and impairment losses, despite an increase in ordinary income of ¥13.6 billion.

- 2 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022b.

Segment Summary

The following describes performance by segment.
Note that from the beginning of the current consolidated fiscal year, the names and categorizations for reportable segments
have been partially amended. Year-on-year amounts and ratios for the previous fiscal year are calculated after rearranging
reportable segment classifications to match those of the current fiscal year.
Functional Materials(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year

ChangeChange (%)(March 31, 2021)(March 31, 2022)

Net sales

75,294

99,874

24,58032.6

Gross profit

15,562

19,819

4,256

27.4

Operating income

4,712

7,823

3,111

66.0

The major factors behind performance were as follows.

・ Raw materials sales recovered for coating and urethane raw materials as well as those related to processing
industrial oil solutions and plastic materials, driven by a recovery in automobile production
・ Sales trended strong in areas like electronics chemicals for the electronics industry, such as for semiconductorrelated products
・ Operating income increased due to an increase in gross profit
Advanced Materials & Processing(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year
(March 31, 2021)(March 31, 2022)

ChangeChange (%)

Net sales

209,715

257,283

47,56822.7

Gross profit

26,81632,313

5,497

20.5

Operating income

7,311

10,858

3,546

48.5

The major factors behind performance were as follows.

・ Sales increased for resins in the office equipment, appliance, and video game device markets due to increased
demand, and profitability improved due to soaring market conditions
・ Sales increased for resins for industrial and packaging applications, as well as dyes and additives, due torecovery in demand
・ Sales decreased for digital print processing materials and conductive materials
・ Operating income increased due to an increase in gross profit- 3 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Electronics & Energy(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year
(March 31, 2021)(March 31, 2022)

ChangeChange (%)

Net sales

110,770

128,131

17,36015.7

Gross profit

25,581

29,767

4,185

16.4

Operating income

8,408

10,278

1,870

22.2

The major factors behind performance were as follows.

・ Sales increased for display materials and related to precision processing materials for semiconductors
・ Sales related to formulated epoxy resins increased, primarily for mobile devices and semiconductors
・ Sales related to photolithography materials increased with increased demand for displays
・ Operating income increased due to an increase in gross profit
Mobility(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year

ChangeChange (%)(March 31, 2021)(March 31, 2022)

Net sales

78,783103,389

24,60531.2

Gross profit

8,983

12,718

3,734

41.6

Operating income

1,851

4,131

2,280

123.2

The major factors behind performance were as follows.

・ Sales increased for resins domestically and overseas, primarily in ASEAN, due to recovery in automobile
production, and profitability increased owing to rising market conditions
・ Sales increased in functional materials and functional components for interior and exterior fittings andelectrification
・ Operating income increased due to an increase in gross profit
Life & Healthcare(Millions of yen)
Prior Consolidated Current Consolidated
Fiscal Year
Fiscal Year
(March 31, 2021)(March 31, 2022)

ChangeChange (%)

Net sales

150,331

191,634

41,30327.5

Gross profit

37,47144,757

7,285

19.4

Operating income

6,512

9,429

2,916

44.8

The major factors behind performance were as follows.

・ Materials sales, manufacturing, and processing all trended strongly in the nutrition-related business・ Sales increased related to food materials, primarily TREHA™, and in cosmetics materials, primarily AA2G™, owing torecovery in demand

・ Sales increased for pharmaceutical raw materials and intermediates
・ Operating income increased due to an increase in gross profit
OthersNo special matters to disclose.

- 4 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(2) Review of Financial Position(Millions of yen)
Prior Consolidated
Fiscal Year

Current Consolidated
Fiscal Year

(March 31, 2021)(March 31, 2022)

ChangeChange (%)

Current assets

401,751

514,286

112,534

28.0

Non-current assets

238,835

225,434(13,401)(5.6)

Total assets

640,587739,720

99,133

15.5

Liabilities

302,155

384,628

82,472

27.3

Net assets

338,431355,092

16,661

4.9

51.5

46.5

(5.0) p－Shareholders’ equity ratio (%)

・ Current assets increased mainly due to an increase in inventories and accounts receivable
・ Non-current assets decreased due to a decline in fair values and sales of investments in securities
・ Liabilities increased mainly due to an increase in accounts payable and short-term loans
・ Net assets increased due to the recording of profit attributable to owners of the parent and an increase in translation
adjustments, despite a decrease in net unrealized holding gain on securities.
・ As a result, the Company recorded a shareholders’ equity ratio of 46.5%, down 5.0 points compared to 51.5% from the endof the prior consolidated fiscal year(3) Summary of Cash Flows
Prior Consolidated Fiscal Year
(March 31, 2021)(Millions of yen)
Current Consolidated Fiscal Year
(March 31, 2022)

Cash flows from operating activities

20,391(17,776)

Cash flows from investing activities

2,643(7,664)

Cash flows from financing activities(25,866)

27,282

・ Net cash used in operating activities was mainly due to a ¥63.1 billion decrease in cash stemming from an increase inworking capital, offset in part by ¥ 39.5 billion in income before income taxes
・ Net cash used in investing activities was mainly due to ¥8.8 billion in purchases of property, plant and equipment and ¥3.8
billion in purchases of shares of subsidiaries resulting in change in scope of consolidation, offset in part by ¥7.7 billion inproceeds from sales of investments in securities
・ Net cash provided by financing activities was mainly due to a net increase of ¥33.3 billion in short-term loans and a netincrease of ¥17.0 billion in commercial paper, offset in part by ¥12.0 billion in repayments of long-term loans and ¥6.0
billion in purchases of treasury stock- 5 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

FYE March
2018

FYE March
2019

FYE March
2020

FYE March
2021

FYE March2022

Shareholders’ equity ratio

53.3％

54.2％

49.9％

51.5％

46.5％

Shareholders' equity ratio basedon market value

39.7％

34.7％

25.9％

33.3％

29.5％

Interest-bearing debt to cash
flow ratio (years)

4.1

4.9

4.1

5.8

-

Interest coverage ratio (times)

16.3

10.4

23.9

19.1

-

Shareholders’ equity ratio: Equity capital/total assets
Shareholders' equity ratio based on market value: Market capitalization/total assets
Interest-bearing debt to cash flow ratio: Interest-bearing debt/operating cash flow
Interest coverage ratio: Operating cash flow/interest payments(Note) 1. Indicators are calculated based on consolidated figures.
2. Market capitalization is calculated using the closing price at the end of the year multiplied by the number ofoutstanding shares at the end of the year (less treasury stock at cost).
3. Operating cash flow is net cash provided by operating activities as shown in the consolidated statements of cash
flows. Interest-bearing debt is all liabilities in the consolidated balance sheets for which interest is payable.
Interest payments are the amount of interest paid as presented in the consolidated statements of cash flows.
4. Interest-bearing debt to cash flow ratio or interest coverage ratio are not presented for the fiscal year ended
March 31, 2022, as operating cash flow was negative.

(4) Future Outlook
a. Performance Forecast for the Fiscal Year Ending March 2023
We project that the environment surrounding the NAGASE Group in the next fiscal year will see limited restrictions on
economic activities due to COVID-19 and that economic activities will advance under an assumption of the new normal.
Although the situation in Ukraine does not have a significant impact on our business, since we have few direct transactions
with either Russia or Ukraine, we expect indirect impact in the form of fluctuations in the market for raw materials due to therise of crude oil prices and an increase in logistics costs due to the sharp rise in ocean freight rates. Accordingly, we must steer
our business with greater consideration for geopolitical risks than ever before. In addition, there are concerns that sharp
fluctuations in exchange rates and interest rates, as well as global inflation, will affect consumer spending and corporate
earnings.
In this environment, we expect many of the business fields related to our group to continue to perform well, and we haveformulated the following assumptions for the next fiscal year.
In the food-related business, which we identified as a focus business under the ACE 2.0 Medium-term Management Plan, we
expect Prinova Group sales to increase due to expanding consumer activity and rising health consciousness in Europe and theAmericas. In addition, we expect the supply of high-end models for electronic devices in the semiconductor-related products
business to recover and remain strong. With respect to our automobile-related business, which we identify as a base business,the impact of ongoing shortages of general-purpose semiconductors on production volume is an issue. However, we expect
soaring resin market prices continuing from the previous fiscal year to contribute to steady sales. As we advance various
measures, including investments in research and development and investments related to DX, we will engage in companywide business replacements and reallocations of resources, improving profitability and efficiency to secure a certain level ofprofit increase.
These forecasts have been developed based on foreign exchange rates of ¥120 to the U.S. dollar and ¥18.5 to the RMB.

- 6 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Further, these forecasts were calculated based on information available at the time and on reasonable determinations ofconditions. Actual results may vary significantly due to a variety of factors, including business conditions overseas and inJapan and exchange rate trends. Any issues that require disclosure in the future will be disclosed promptly if importantdevelopments relating to our forecasts for the fiscal year ending March 2023 occur.
(Millions of yen)
Gross profit

Operating income

Ordinary income

Profit attributable toowners of the parent

FYE March 2023 Forecast

159,000

38,00039,00028,500FYE March 2022 Actual

139,494

35,26336,49725,939Change＋14.0％

＋7.8％

＋6.9％

＋9.9％

b. Operating Income Forecast by Segment(Millions of yen)FYE March 2022
ActualFYE March 2023
Forecast

ChangeFunctional Materials

7,823

8,300

＋6.1％

Advanced Materials & Processing

10,858

11,700＋7.8％

Electronics & Energy

10,278

11,500＋11.9％

Mobility

4,131

4,400

＋6.5％

Life & Healthcare

9,429

11,200＋18.8％

Others(7,258)(9,100)-Total Operating Income

35,26338,000＋7.8％(5) Dividend Policy and Dividends for the Fiscal Years Ending March 2021 and 2022
Dividends are paid based on consolidated cash flows and investment conditions. Our basic policy is to pay continuously
increasing dividends in consideration of consolidated earnings and financial structure, while improving profitability andstrengthening our corporate structure. In addition, we will consider the flexible implementation of share buybacks with an eye
toward efficiency.
Based on this policy, the NAGASE Group declared a year-end dividend of ¥30 per share, which includes special dividend of¥6 per share considering the current fiscal year’s consolidated performance and financial position. As a result, the scheduled
full-year cash dividend including the interim dividend will amount to ¥54 per share, an increase of ¥8 per share from the priorfiscal year.
After a comprehensive consideration of our forecast earnings capacity (our present consolidated earnings forecasts adjusted forspecial circumstances) and of our stability and continuity of dividend payments, we forecast a full-year dividend of ¥60 per
share for the next fiscal year. This dividend will consist of a ¥30 per share interim dividend and a ¥30 per share year-end
dividend.

2. Basic Policy on the Selection of Accounting Standards
The NAGASE Group intends to use Japanese accounting standards for the time being to allow for inter-company comparability.
We have been studying the adoption of International Financial Reporting Standards (IFRS) for some time, and we plan to makethe appropriate policy choice in the future, considering external trends and other factors.

- 7 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

3. Consolidated Financial Statements and Notes(1) Consolidated Balance Sheets(Millions of yen)
Prior Consolidated Fiscal Year
(March 31, 2021)

Current Consolidated Fiscal Year
(March 31, 2022)

49,254
242,558
88,1301,654
7,457
13,259(563)
401,751

54,211
289,862
142,5902,401
12,533
13,935(1,248)514,286

59,327(34,422)
24,90564,956(47,962)
16,99320,05428,074(19,131)
8,943
70,89661,430(36,003)
25,42764,794(47,271)
17,523
20,39830,318(21,112)
9,205
72,55430,216
7,488
26,89364,59829,492
5,912
29,66465,07093,719
211
2,929
1,903
4,689
(112)
103,340
238,835
640,587

75,600
24
3,139
3,572
5,583
(112)
87,809225,434
739,720ASSETS
Current assets
Cash and time deposits
Notes and accounts receivable
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Less allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures (net)
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles (net)
Land
Other
Accumulated depreciation
Other (net)Total property, plant and equipment
Intangible fixed assets
Goodwill
Technology-based assets
Other
Total intangible fixed assets
Investments and other assets
Investments in securities
Long-term loans receivable
Retirement benefit asset
Deferred tax assets
Other
Less allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 8 -NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Millions of yen)
Prior Consolidated Fiscal Year
(March 31, 2021)
LIABILITIESCurrent liabilities
Notes and accounts payable
Short-term loans
Current portion of long-term loans
Commercial paper
Current portion of bonds
Accrued income taxes
Accrued bonuses for employees
Accrued bonuses for directors
Other
Total current liabilities
Long-term liabilities
Bonds
Long-term loans
Deferred tax liabilities
Retirement benefit liability
Other
Total long-term liabilities
Total liabilities
NET ASSETS
Shareholders’ equity
Common stock
Capital surplus
Retained earnings
Less treasury stock, at cost
Total shareholders’ equity
Accumulated other comprehensive income
Net unrealized holding gain on securities
Deferred gain on hedges
Translation adjustments
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets- 9 -Current Consolidated Fiscal Year
(March 31, 2022)

119,941
33,05012,025
8,000
3,565
6,042
203
23,310206,139

149,036
73,121
8,752
25,00010,000
7,100
7,648
497
26,678307,836

30,00034,514
16,077
13,292
2,131
96,016302,155

20,00028,244
12,31013,2382,998
76,791
384,628

9,699
10,646
265,920(1,503)284,763

9,699
10,639280,015(1,534)
298,820

43,57672
1,006
268
44,924
8,743
338,431640,587

31,732
178
13,690(161)
45,441
10,830355,092
739,720

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)(Millions of yen)
Prior Consolidated Fiscal Year
(April 1, 2020 March 31, 2021)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Selling expenses
Employee salaries and allowances
Provision for accrued bonuses for employees
Provision for accrued bonuses for directors
Depreciation and amortization other than amortizationof goodwill
Retirement benefit expenses
Provision for retirement benefits for directors
Allowance for doubtful accounts
Amortization of goodwill
Other
Total selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Rent income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Equity in losses of affiliates
Other
Total non-operating expenses
Ordinary income
Extraordinary gains
Gain on sales of non-current assets
Gain on receipt of donated non-current assets
Gain on sales of investment securities
Gain on sales of shares of subsidiaries and affiliates
Gain on sales of investments in capital of subsidiaries
and affiliates
Subsidy income
Other
Total extraordinary gains
Extraordinary losses
Loss on sales of non-current assets
Loss on disposal of non-current assets
Loss on impairment of fixed assets
Loss on sales of investment securities
Loss on valuation of investments securities
Loss on sales of shares of subsidiaries and affiliates
Other
Total extraordinary losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit for the period
Profit attributable to non-controlling interests
Profit attributable to owners of the parent- 10 -

Current Consolidated Fiscal Year
(April 1, 2021 March 31, 2022)

625,245
510,645
114,600

780,557
641,062
139,494

14,87730,8283,609
175

19,90733,977
4,522
287

6,558

6,716

1,936
19
(62)
2,344
32,396
92,683
21,916

769
42
612
2,478
34,918104,231
35,263

149
1,163
263
417
766
2,759

156
1,395
272
1,283
822
3,929

1,064
327
430
1,821
22,854

1,176
1,031
486
2,695
36,497

86
5,774
2,657

16
719
7,037
-

-

314

163
51
8,733

75
229
8,392

23
92
1,824
10
155
1
206
2,314
29,272
7,851
1,775
9,626
19,646816
18,829

177
453
2,974
6
1,436
59
224
5,333
39,557
12,826(141)
12,684
26,872932
25,939

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Consolidated Statements of Comprehensive Income)(Millions of yen)
Prior Consolidated Fiscal Year
(April 1, 2020 March 31, 2021)
Profit for the period
Other comprehensive income
Net unrealized holding gain (loss) on securities
Deferred gain on hedges
Translation adjustments
Remeasurements of defined benefit plans
Share of other comprehensive gain of affiliates
accounted for by the equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Shareholders of the parent
Non-controlling interests- 11 -

Current Consolidated Fiscal Year
(April 1, 2021 March 31, 2022)

19,646

26,872

10,94569
7
963(11,844)106
13,623
(430)

254

282

12,241
31,887

1,736
28,60830,774
1,112

26,482
2,126

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(3) Consolidated Statements of Changes in Shareholders’ Equity
Prior Consolidated Fiscal Year (April 1, 2020 - March 31, 2021)(Millions of yen)
Shareholders’ equity
Common stock
Balance, beginning of period

Capital surplus

9,699

Retained earnings

10,646

Less treasury stock, atcost

257,067

Total shareholders’equity(5,071)

272,342

ChangesCash dividends(5,456)(5,456)

Profit attributable to ownersof the parent

18,82918,829Purchase of treasury stock
Disposal of treasury stock0

Cancellation of treasury
stock

(0)

Equity transactions with
non-controlling interests(0)(4,520)

(952)

(952)

0

0

4,520

(0)

Changes other thanshareholders’ equity
accounts (net)Total changes
Balance, end of period

-

(0)

8,852

3,568

12,4209,699

10,646

265,920(1,503)284,763

Accumulated other comprehensive income

Balance, beginning of period

Net unrealized
holding gain on
securities

Deferred gain
on hedges

32,6183Translation
adjustments
1,051

Remeasurementsof defined benefit
plans

(694)

Total
Non-controlling
Total net assets
accumulated
interests
othercomprehensive
income32,9797,921

313,243

ChangesCash dividends(5,456)

Profit attributable to ownersof the parent

18,829Purchase of treasury stock(952)

Disposal of treasury stock0

Cancellation of treasury
stock

-

Equity transactions with
non-controlling interests(0)

Changes other thanshareholders’ equity
accounts (net)10,957

69

(45)

963

11,944822

12,767

Total changes

10,957

69

(45)

963

11,944822

25,188

Balance, end of period

43,576

72

1,006

268

44,924

8,743

338,431- 12 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Current Consolidated Fiscal Year (April 1, 2021 - March 31, 2022)(Millions of yen)
Shareholders’ equity
Common stock
Balance, beginning of period

Capital surplus

9,699

Less treasury stock, at
cost

Retained earnings

10,646

265,920

Total shareholders’equity(1,503)284,763

ChangesCash dividends(5,876)(5,876)

Profit attributable to ownersof the parent

25,93925,939Purchase of treasury stock(6,006)(6,006)

0

0

5,975

-

Disposal of treasury stock0

Cancellation of treasury
stock

(0)

Equity transactions with
non-controlling interests

(0)

(0)

Changes in scope of
consolidation

(6)

(6)

(5,975)

Changes in scope of equity
affiliates

7

7

Changes other thanshareholders’ equity
accounts (net)Total changes
Balance, end of period-(6)

14,094(30)

14,057

9,699

10,639280,015(1,534)

298,820

Accumulated other comprehensive income

Balance, beginning of period

Net unrealized
holding gain on
securities

Deferred gain
on hedges

43,576

72

Translation
adjustments
1,006

Remeasurementsof defined benefit
plans

268

Total
Non-controlling
Total net assets
accumulated
interests
othercomprehensive
income44,924

8,743

338,431

ChangesCash dividends(5,876)

Profit attributable to ownersof the parent

25,939Purchase of treasury stock(6,006)

Disposal of treasury stock0

Cancellation of treasury
stock

-

Equity transactions with
non-controlling interests(0)

Changes in scope of
consolidation(6)

Changes in scope of equity
affiliates
Changes other thanshareholders’ equity
accounts (net)7(11,843)

106

12,684

(430)

516

2,086

2,603

Total changes(11,843)

106

12,684

(430)

516

2,086

16,661

Balance, end of period

31,732

178

13,690(161)

45,441

10,830355,092- 13 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(4) Consolidated Statements of Cash Flows(Millions of yen)
Current Consolidated
Fiscal Year
(April 1, 2021 March 31, 2022)

Prior Consolidated
Fiscal Year
(April 1, 2020 March 31, 2021)
Operating Activities
Income before income taxes
Depreciation and amortization other than amortization of
goodwill
Loss on impairment of fixed assets
Amortization of goodwill
Subsidy income
Share of loss of entities accounted for using equity method
Increase (decrease) in retirement benefit liability
Increase in retirement benefit asset
Interest and dividend income
Interest expenses
Exchange gain, net
Gain on sales of investment securities, investments in capital,
shares of subsidiaries and affiliates, and investments in capital ofsubsidiaries and affiliates, net
Loss on valuation of investment securities, investments incapital, shares of subsidiaries and affiliates, and investments incapital of subsidiaries and affiliates, net
Increase in notes and accounts receivable
Increase in inventories
Increase in notes and accounts payable
Other
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Investing activities
Purchases of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchases of intangible fixed assets included in other assets
Purchases of investments in securities
Proceeds from sales of investments in securities
Purchases of investments in capital
Proceeds from sales of investments in capital
Purchases of shares of subsidiaries resulting in change in scopeof consolidation
Proceeds from sales of shares of subsidiaries resulting in changeof scope of consolidation
Decrease (increase) in short-term loans receivable included inother current assets, net
Decrease (increase) in time deposits, net
Proceeds from subsidy income
Payments of leasehold and guarantee deposits
Other
Net cash provided by (used in) investing activities- 14 -

29,27239,557

11,008

11,216

1,824
2,344
(163)
327
1,395
(1,174)(1,312)
1,064
(24)

2,974
2,478
(75)
1,031
(599)
(869)
(1,551)
1,176
(778)

(8,419)(7,285)

155

1,436

(17,641)(1,034)8,623
2,544
28,7971,950(1,067)(9,288)20,391(34,234)(49,346)
20,465
4,859(9,544)
1,926(1,202)(8,956)(17,776)(8,864)448(704)(3,260)
6,027
(47)
57

(8,830)326(1,624)(1,317)
7,736
890

-

(3,848)

8,010

587

319

(83)

290
163
202
2,643

(137)
75
(1,352)(86)(7,664)

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Prior Consolidated
Fiscal Year
(April 1, 2020 March 31, 2021)
Financing activities
Increase in short-term loans, net(Decrease) increase in commercial paper, net
Proceeds from long-term loans
Repayments of long-term loans
Purchase of treasury stock
Cash dividends paid
Cash dividends paid to non-controlling interests
Other
Net cash (used in) provided by financing activities
Effects of exchange rate changes on cash and cash equivalents
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of the year
Cash and cash equivalents, at end of the period- 15 -

658(22,000)
4,350(1,891)(952)(5,456)(290)(285)(25,866)913(1,918)50,471
48,553(Millions of yen)
Current Consolidated
Fiscal Year
(April 1, 2021 March 31, 2022)
33,32517,0001,900(12,039)(6,006)(5,876)(543)(477)
27,282
2,942
4,783
48,55353,336

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(5) Notes Related to Consolidated Financial Statements(Assumption for Going Concern)
No matters to report.
(Change in Accounting Policy)(Application of Accounting Standards for Revenue Recognition)
At the beginning of the current consolidated fiscal year, the Company adopted the Accounting Standard for Revenue
Recognition (ASBJ Statement No. 29, March 31, 2020). As a result, revenue is now recognized as the amount expected to bereceived in exchange for promised goods or services at the time of the transfer of their control to the customer.
As a result, in transactions for which the Company's performance obligations in its contracts with customers are determined to
be services as an agent arranging provision of goods or services by another party, the sales to customers previously recorded ona gross basis shall be offset by the corresponding cost of sales, and revenue shall be stated on a net basis.
Since these changes in accounting methods shall be applied retroactively as a rule, consolidated financial statements for thesame period in the prior fiscal year and for the end of the prior fiscal year shall be presented with retroactive application.
As a result, net sales and cost of sales each were reduced by ¥204,995 million in the previous consolidated fiscal year and¥244,835 million in the current consolidated fiscal year. Note that this change has no impact on any stage of profits below
gross profit for either of the aforementioned periods, nor on the amount of net assets.
(Application of Accounting Standard for Fair Value Measurement)
As of the beginning of the current consolidated fiscal year, the Company has applied the Accounting Standard for Fair Value
Measurement (ASBJ Statement No. 30, July 4, 2019). In accordance with the transitional treatment prescribed in Paragraph 19of the Accounting Standard for Fair Value Measurement and Paragraph 44-2 of Accounting Standard for Financial
Instruments (ASBJ Statement No. 10, July 4, 2019), new accounting policies prescribed by the Accounting Standard for Fair
Value Measurement have been adopted prospectively. There is no effect by this change on the consolidated financial
statements.

(Additional Information)(Accounting Treatment of Income Taxes and Local Corporation Taxes and Tax Effect Accounting for Same)The Company and certain consolidated subsidiaries had adopted the consolidated taxation system. However, the Company andthese subsidiaries submitted a notification indicating the intent to cease the application of the group tax sharing system during
the current consolidated fiscal year, thereby transitioning to the non-consolidated taxation system beginning with the next
consolidated fiscal year. In conjunction with this transition, the accounting treatment and presentation of tax effect accounting
related to income taxes and local corporation taxes now reflects the adoption of the non-consolidated taxation system
beginning with the next consolidated fiscal year, based on Practical Solution on the Accounting and Disclosure Under theJapanese Group Relief System (ASBJ PITF No. 42, August 12, 2021).
The accounting treatment and disclosure of income taxes and local corporation taxes are based on the consolidated taxation
treatment for the current consolidated fiscal year. Therefore, the Company follows Practical Solution on Tentative Treatment
of Tax Effect Accounting Under Consolidated Taxation System (Part 1) (ASBJ PITF No.5, February 16, 2018) and Practical
Solution on Tentative Treatment of Tax Effect Accounting Under Consolidated Taxation System (Part 2) (ASBJ PITF No.7,
February 16, 2018).

- 16 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Segment Information, etc.)
a. Segment Information
1. Reportable Segments(Change in Business Segments)
From the beginning of the current consolidated fiscal year, the Electronics Segment has been renamed to the Electronics &Energy Segment, and the Mobility & Energy Segment has been renamed to the Mobility Segment, with changes to businesssegmentation as follows.
For the purpose of promoting development of new businesses, the Energy Business Office previously classified under the
Mobility & Energy Segment, as well as the Advanced Information and Communications Project Team previously classified
under the Others/Corporate category, have been unified in the newly established Information and Communication・Energy
Office, classified under the Electronics & Energy Segment. In addition, for the purpose of expanding market share andimproving synergies, the fluorine business in the Specialty Chemicals Division, which was previously classified under the
Functional Materials Segment, has been moved to the Electronics & Energy Segment.
Segment information provided for the previous consolidated fiscal year is based on post-change classification methods.
The following describes the major products and services handled by each reportable segment.
The Functional Materials segment is engaged in the sales of materials for paints/inks, and adhesives, urethane materials andauxiliary materials, plastic materials, plastic additives, industrial oil solutions, water processing raw materials, surfactant raw
materials, fluorochemicals, encapsulant materials, 5G materials, silicone materials, environmental solutions andenvironment-related commercial products, sintered metal filters, and more for the paints/inks, resins, urethane foam, organic
synthesis, surfactants, electronics chemicals, communications equipment, water processing, metal processing, plastic andfilm processing, and other industries.
The Advanced Materials & Processing Segment is engaged in the sales of dyestuffs, pigments, functional pigments, digitalprint processing products, thermoplastic resins, thermosetting resins, automobile refinish paints, conductive coatings,
synthetic rubber, inorganic materials, plastics products, resin molding tools/dies, and more for the dye/additive, digital print
processing material, fiber processing, raw resin material, resin molding, functional film and sheet, appliance and officeautomation device, electronics, packaging material, construction material, and other industries.
The Electronics & Energy Segment is engaged in the sales of formulated epoxy resins, fluorine products, precisionabrasives, semiconductor assembly materials and devices, adhesives and encapsulant materials, display panel components
and devices, chemical management equipment for display manufacturing processes, low-temperature/vacuum equipment,
liquid state analysis equipment, LEDs, 3D printing products, design and manufacture of storage battery systems, solar
panels, optical wireless communication equipment, and other products for the semiconductor, electronic component, AR/VR,
environmental energy, 3D printing, heavy electrical and light electrical, HDD, automotive and aircraft, display, touch panel,
housing, lighting, storage battery, energy, renewable energy, security device, large-scale commercial facility, and otherindustries. Its main services include energy management system proposals, battery assessments, and health care services.
The Mobility Segment is engaged in the sales of plastic products in general, materials for secondary batteries, interior andexterior materials and components, materials for functional components, products for electrification, sensor components, invehicle electronics products, in-vehicle display-related components, self-driving-related products, and other products for theoverall mobility industry and related industries.
The Life & Healthcare segment is engaged in the sale of pharmaceutical/agricultural chemicals and materials, research
products, in vitro diagnostics, enzymes, food additives, food ingredients, sports nutrition products, nutrient premixes,
additives for cosmetics, feeds, surfactants, and medical appliances for the pharmaceutical, food and beverage, cosmetics,
agricultural, toiletries, and health care industries. The segment offers radiation measurement as one of its main services. In
addition, this segment sells cosmetics, health foods, and beauty foods directly to consumers.
(Application of Accounting Standards for Revenue Recognition)
As described in (Change in Accounting Policy), at the beginning of the current consolidated fiscal year, the Company
adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020), changing its
accounting method for revenue recognition. As a result, measurement methods have similarly been changed for businesssegment profit and loss.
Segment information provided for the previous consolidated fiscal year is based on the changed profit or loss measurement
method.
- 17 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

2. Net Sales, Income (Loss), Assets, Liabilities, and Other Items by Segment
Accounting treatment in each reportable segment follows the principles and procedures of the accounting treatments used toprepare the Company’s consolidated financial statements.
Income in reportable segments is defined as operating income. Intersegment sales/transfers are based on actual market
prices.

3. Information Related to Net Sales, Income (Loss), Assets, Liabilities, and Other Items by Segment
Prior Consolidated Fiscal Year (April 1, 2020 to March 31, 2021)(Millions of yen)
Reportable Segments
Advanced
Functional
Electronics
Materials &Materials& Energy
Processing

MobilityLife &
Healthcare

Total

Others(Note) 1

Total

Corporate Adjustments Consolidated(Note) 4(Note) 2(Note) 3

Net sales
Sales tocustomers
Intersegment
sales/transfers
Total
Segment income(loss)
Segment assets

75,294

209,715

110,770

78,783

150,331624,895

349

625,2450-625,245

680

1,546

1,951

2,069

328

6,577

5,059

11,636-(11,636)-

75,974211,262

112,72280,853

150,659

631,472

5,408

636,8810(11,636)625,245

4,712

7,311

8,408

1,851

6,512

28,795

157

28,952(7,479)443

21,916

79,048144,135

69,32653,659165,934

512,104

2,738

514,843

160,510(34,766)

640,587

472

1,040

1,496

280

5,788

9,077

104

9,181

1,827

-

11,008

105

89

40

-

2,108

2,344

-

2,344

-

-

2,344

1,787

720

451

-

27,25730,216-30,216--30,216

1,981

1,728

3,170

1,237

2,995

11,11382

11,196-(1)

11,195

399

1,974

1,222

242

5,744

9,583

11

9,595

1,160

-

10,755

Other items
Depreciation
and amortization
Amortization of
goodwill
Unamortizedbalance of
goodwill
Investments inequity affiliates
Increase inproperty, plant,
and equipment
and intangible
fixed assets(Note) 1. “Others” is a business segment consisting of businesses not included in Reportable Segments, and includes logistics
services, information processing services, and professional services.
2. Corporate segment income (loss) represents expenses not allocated to Reportable Segments or Others. Segment assets
under Corporate are assets not allocable to Reportable Segments or Others.
3. Adjustments are eliminations of intersegment transactions.
4. The sum of Segment income (loss) Total, Corporate, and Adjustments is equivalent to operating profit as presented in“Consolidated”.

- 18 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Current Consolidated Fiscal Year (April 1, 2021 to March 31, 2022)(Millions of yen)
Reportable Segments
Advanced
Functional
Electronics
Materials &Materials& Energy
Processing

MobilityLife &
Healthcare

Total

Others(Note) 1

Total

Corporate Adjustments Consolidated(Note) 4(Note) 2(Note) 3

Net sales
Sales tocustomers
Intersegment
sales/transfers
Total
Segment income(loss)
Segment assets

99,874257,283

128,131103,389

191,634

780,313244

780,557－－

780,557

711

777

2,319

2,389

452

6,649

4,649

11,298－(11,298)－

100,585

258,060

130,450

105,778

192,087

786,962

4,893

791,856－(11,298)

780,557

7,823

10,858

10,278

4,131

9,429

42,521

100

42,621(7,690)331

35,263

83,793

164,249

77,16368,492

218,060

611,759

2,838

614,598

190,048(64,926)

739,720

465

1,447

1,479

342

5,959

9,694

16

9,711

1,505

－

11,216

111

178

42

－

2,145

2,478

－

2,478

－

－

2,478

1,853

－

452

－

27,18629,492－29,492－－29,492

1,300

1,828

2,761

1,403

3,139

10,432

95

10,5280(0)

10,528

562

1,742

1,610

558

2,435

6,909

25

6,934

3,791

－

10,725

Other items
Depreciation
and amortization
Amortization of
goodwill
Unamortizedbalance of
goodwill
Investments inequity affiliates
Increase inproperty, plant,
and equipment
and intangible
fixed assets(Note) 1. “Others” is a business segment consisting of businesses not included in Reportable Segments, and includes information
processing services, and professional services.
2. Corporate segment income (loss) represents expenses not allocated to Reportable Segments or Others. Segment assets
under Corporate are assets not allocable to Reportable Segments or Others.
3. Adjustments are eliminations of intersegment transactions.
4.The sum of Segment income (loss) Total, Corporate, and Adjustments is equivalent to operating profit as presented in“Consolidated”.

- 19 -

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

b. Other Information
Prior Consolidated Fiscal Year (April 1, 2020 to March 31, 2021)
1. Products and Services
Omitted, as the same information has been disclosed under Segment Information.

2. Geographical Information(1) Net sales(Millions of yen)
Reportable Segments
Functional
Materials

Advanced
Materials &Processing

OthersElectronics &EnergyMobilityLife &(Note) 3

Composition
(%)

Total

HealthcareJapan

31,951

60,83751,01424,25853,326349

221,737

35.5

Greater China

9,741

93,58140,29825,771

2,677-

172,071

27.5

ASEAN

19,13245,756

7,158

20,692

2,887-

95,626

15.3

Americas12,331

3,760

4,834

6,877

58,401-

86,20413.8

Europe

1,600

4,622

2,870

1,043

32,722-42,859

6.9

Other

537

1,156

4,595

139

316

-

6,745

1.0

Revenues from contracts
with customers

75,294

209,715

110,770

78,783

150,331349

625,245

100.0

Net sales to customers

75,294

209,715

110,770

78,783

150,331349

625,245100.0(Note) 1. Net sales are categorized by country or region, according to the location of the customer.
2. Major countries and regions in each category other than Japan(1) Greater China...... China, Hong Kong, Taiwan(2) ASEAN............... Thailand, Vietnam, Singapore(3) Americas............. U.S., Mexico(4) Europe................. U.K., Germany(5) Other................... Korea
3.“Others” is a business segment consisting of businesses not included in Reportable Segments, and includes
logistics service, information processing services, and professional services.

(2) Property, plant and equipment(Millions of yen)
Japan

Other
61,846

Total
9,050

3. Major Customers
Information not presented here, since no single customer accounts for 10% or more of consolidated net sales.

- 20 -

70,896

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

Current Consolidated Fiscal Year (April 1, 2021 to March 31, 2022)
1. Products and Services
Omitted, as the same information has been disclosed under Segment Information.

2. Geographical Information(1) Net sales(Millions of yen)
Reportable Segments
Functional
Materials

Advanced
Materials &Processing

OthersElectronics &EnergyMobilityLife &(Note) 3

Composition
(%)

Total

HealthcareJapan

40,971

69,12350,64031,55557,825244

250,360

32.1

Greater China

11,987

117,092

54,35430,534

3,594-

217,562

27.9

ASEAN

26,58058,9497,267

29,416

3,493-

125,707

16.1

Americas16,703

6,172

5,221

10,24979,243-

117,589

15.1

Europe

2,634

4,598

4,071

1,466

47,083-59,855

7.7

Other

996

1,347

6,575

167

394

-

9,481

1.1

99,874257,283

128,131103,389

191,634

244

780,557

100.0

99,874257,283

128,131103,389

191,634

244

780,557

100.0

Revenues from contracts
with customers

Net sales to customers(Note) 1. Net sales are categorized by country or region, according to the location of the customer.
2. Major countries and regions in each category other than Japan(1) Greater China...... China, Hong Kong, Taiwan(2) ASEAN............... Thailand, Vietnam, Singapore(3) Americas............. U.S., Mexico(4) Europe................. U.K., Germany(5) Other................... Korea
3.“Others” is a business segment consisting of businesses not included in Reportable Segments, and includes
information processing services, and professional service(2) Property, plant and equipment(Millions of yen)
Japan

Other
62,185

Total
10,3693. Major Customers
Information not presented here, since no single customer accounts for 10% or more of consolidated net sales.

- 21 -

72,554

NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

c. Impairment Losses of Non-Current Assets for Each Reportable Segment
Prior Consolidated Fiscal Year (April 1, 2020 to March 31, 2021)(Millions of yen)
Reportable Segments
Advanced
Functional
Electronics
Materials &Materials& Energy
Processing
Impairment
loss

-

843

Life &
Healthcare

Mobility

973

-

-

Corporate/
Elimination

Others
Total
1,817

-

7

Total

1,824

(Note) The Advanced Materials & Processing segment recorded impairment losses of ¥843 million for business assets related to color
former manufacturing business due to declining profitability. The Company wrote down the book value of these assets to theirrecoverable amounts.
We conducted a review of the future business plans for the business assets owned by a Taiwanese subsidiary in the polyimide
film and glass lamination business in the Electronics segment. As a result, we determined future cash flow will be less thanbook value. Therefore, the Company wrote down the book value of these assets to their recoverable amounts and recorded an
impairment loss of ¥951 million.

Current Consolidated Fiscal Year (April 1, 2021 to March 31, 2022)(Millions of yen)
Reportable Segments
Advanced
Functional
Electronics
Materials &Materials& Energy
Processing
Impairment
loss

-

2,974

-

Life &
Healthcare

Mobility--

Corporate/
Elimination

Others
Total
2,974

-

-

Total

2,974

(Note) The Company no longer expects the profitability originally anticipated for the product and manufacturing process development
business related to resins in the Advanced Materials & Processing segment. Therefore, the Company has written down thebook value of goodwill and other intangible fixed assets related to this business to their recoverable amounts, recording
impairment losses in the amount of ¥2,911 million.

d. Amortization and Unamortized Balance of Goodwill for Each Reportable Segment
Prior Consolidated Fiscal Year (April 1, 2020 to March 31, 2021)
Omitted, as the same information has been disclosed under Segment Information.

Current Consolidated Fiscal Year (April 1, 2021 to March 31, 2022)
Omitted, as the same information has been disclosed under Segment Information.

e. Information About Gain on Negative Goodwill for Each Reportable Segment
Prior Consolidated Fiscal Year (April 1, 2020 to March 31, 2021)
No matters to report.

Current Consolidated Fiscal Year (April 1, 2021 to March 31, 2022)
No matters to report.

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NAGASE & CO., LTD. (8012)
Consolidated Financial Statements for the Fiscal Year Ended March 31, 2022

(Per-Share Data)
Prior Consolidated Fiscal Year
(April 1, 2020 March 31, 2021)

Current Consolidated Fiscal Year
(April 1, 2021 March 31, 2022)

Net assets per share¥2,670.09¥2,868.22

Earnings per share¥151.91¥213.46(Note) 1. Information for diluted earnings per share is not presented, as the Company does not issue any stock with dilutive effects.
2. Basic earnings per share calculations are as shown below.
Prior Consolidated Fiscal Year
(April 1, 2020 March 31, 2021)

Current Consolidated Fiscal Year
(April 1, 2021 March 31, 2022)

Profit attributable to owners of the parent (millions of yen)

18,82925,939Profit attributable to common stock owners of the parent(millions of yen)

18,82925,939Average number of outstanding shares of common stock(shares)

123,955,784

121,522,286(Significant Subsequent Events)
No matters to report.

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