Business Results for

1Q(Three months) of FYE 3/2023
August 5th, 2022
STELLA CHEMIFA CORPORATION
Securities code: 4109

Index【Business Results】【Reference Material】（Corporate Profile ・ Introduction of Our Business）

・Performance Highlights

P. 3

・Corporate Profile

P. 18

・Financial Summary

P. 4－11・Subsidiaries & Associates

P. 19

・Financial Forecast

P. 12－15

・Introduction of Our Business

P. 20－33

・Shareholder Return

P. 16

2

Performance Highlights[1Q(Three months) of FYE 3/2023 Results]
 Both domestic and overseas sales of Semiconductors increased year on year.
 The price of anhydrous hydrofluoric acid(AHF), a key raw material, rose year on year.

 Equity method affiliates in China performed well due to surging prices of electrolytes forlithium-ion secondary batteries in the Chinese market, resulting in recording equity method
investment income.

[Full-year Forecast] It is expected that an extraordinary profit of more than 1.2 billion yen will be recorded in 2Q
due to the sale of investment securities held (1 unlisted security).
 We will pay close attention to how earnings will be affected by uncertainties such as theprice of anhydrous hydrofluoric acid(AHF) and trends in foreign exchange rates.
3

Financial Summary(million yen)

1Q
(Three months)of FYE 3/2022

1Q(Three months)of FYE 3/2023

Increase/
Decrease

Percentage
Increase/
Decrease

Sales Revenue

8,896

9,764

867

9.8

Gross Profit

2,297

2,163

-134

-5.8

Operating Profit

1,291

1,291

-0

-0.0

Ordinary Profit

1,282

1,783

500

39.1

802

1,295

492

61.4

Earnings Per Share (yen)62.66

103.55

Capital Expenditures

332

1,026

694

209.2

Depreciation & Amortization

663

663

-0

-0.1

Research & Development Expenses

170

123

-47

-27.9

Quarterly Profit Attributable to
Owners of Parent

4

Sales Revenue and Operating Profit
by Business Segment
Operating Profit

Sales Revenue
Increase/
Decrease％

1Q(Three months)of FYE 3/2022

1Q(Three months)of FYE 3/2023

Amount

％

868

11.3

1,401

1,135

-265

-19.0

1,146

5

0.5

193

154

-38

-20.1

7

-

-7

-

-182

-

182

‐

38

40

1

4.0

2

3

1

68.1

‐

‐

‐

‐

-123

-2

120

‐

8,896

9,764

867

9.8

1,291

1,291

-0

-0.0

1Q
(Three months)of FYE 3/2022

1Q(Three months)of FYE 3/2023

AmountHigh-Purity
ChemicalBusiness

7,708

8,577

Transportation
Business

1,141(million yen)

MedicalBusiness

Other

Eliminations
and Corporate

Total

Increase/
Decrease

5

Sales Revenue of High-Purity
Chemical Business (Breakdown)(million yen)

1Q
(Three months)
Of FYE 3/2022

1Q(Three months)
Of FYE 3/2023

Increase/
Decrease

Percentage
Increase/
Decrease

Sales Revenue Constituent Ratio
Of High-Purity Chemicals
Purchased Goods

Semiconductors

4,191

4,738

547

13.1

17%
Industrial
Hydrofluoric Acid

992

Energy

527

-465

-46.9

Sales Revenue
8.5 billion Yen（Abroad 56.2%）

8%
GeneralProduct

Electronic Materials

270

297

27

10.1

10% Electronic
Materials

Semiconductors
55%

Energy6%4%General Products

546

844

298

54.6

Semiconductors Shipping Ratio by Country
Other

Industrial
Hydrofluoric Acid

881

704

-177

Singapore-20.1

TaiwanPurchased Goods

826

1,465

638

South Korea

77.2

Japan

Total

7,708

8,577

868

11.3

1Q(Three months) 1Q(Three months)of FYE 3/2022

of FYE 3/2023

6

Analysis of Operating Profit（Year on year）
Including decreased shipments ofEnergy Business (－)/
increased shipments of
Semiconductors Business (+)(million yen)

1,291

1,291

Higher raw material prices (－)
Higher selling prices (+)

High-Purity Chemical Business -2657

Change of Quarterly Operating Profit(million yen)

1,400

1,116

1,200
1,000

884

1,179

1,291

1,156

1,291
1,072 1,062

902

800
600
400
200

0

FYE 3/2021

FYE 3/2022

FYE 3/2023

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Sales
Revenue

8,222

8,389

8,315

7,965

8,896

9,212

9,015

10,171

9,764

Operating
Profit

884

902

1,116

1,179

1,291

1,156

1,072

1,062

1,291

10.8%

10.8%

13.4%

14.8%

14.5%

12.5%

11.9%

10.4%

13.2%

Operating
Profit Margin

2Q

3Q

4Q

8

Transitions in Trade Statistics Value ofAnhydrous Hydrofluoric Acid(AHF)( yen/kg )(Note) Different from our purchase prices. Only for reference regarding price fluctuations.

300

250

200

150

100
1Q

(yen/kg)
Average
Price

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023
1Q

220

186

168

225

275

Source: Prepared by our company based on the Ministry of Finance’s “Trade Statistics of Japan” (http://www.customs.go.jp/toukei/info/)9

Change of Shipping Volume of High-Purity
Hydrofluoric Acid (Semiconductors)(t)
100,000

Full-year 94,100

90,00080,00070,000

2nd Half 48,400

Full-year 69,300

Full-year 71,100

2nd Half 32,700

2nd Half 35,700

1st Half 36,600

1st Half 35,400

Full-year 75,100

60,00050,000

2nd Half 38,400

40,00030,00020,000

1st Half 45,700
1st Half 36,700
1Q(Three months)

10,00019,1000

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023
10

Balance Sheet

Jun.30,2022

Increase/
Decrease

Percentage
Increase/
Decrease

56,59856,495-102-0.2

15,895

16,190294

1.9Operating receivables

8,642

8,374

-268

-3.1

Inventory assets

5,271

4,252

-1,018-19.3

21,667

22,273

605

2.8

375

347

-28

-7.5

13,86912,484-1,385-10.0

Operating liabilities

3,522

3,470

-51

-1.5

Interest-bearing liabilities

5,594

5,222

-372

-6.7

Net Assets

42,72844,011

1,282

3.0

Equity capital

42,17043,446

1,276

3.0

Liabilities and Net Assets

56,59856,495-102-0.2

FYE 3/2022
End-of-Year

AssetsCash and deposits(million yen)

Property, plant, and equipment

Intangible assets
Liabilities

11Financial Forecast(million yen)

FYE 3/2022
ActualFYE 3/2023
Forecast

Increase/
Decrease

Percentage
Increase/
Decrease

Sales Revenue

37,29637,500203

0.5Operating Profit

4,583

4,600

16

0.4

Ordinary Profit

5,707

5,800

92

1.6

Profit Attributable to Owners of
Parent

5,364

4,200

-1,164-21.7

Earnings Per Share (yen)422.97335.63

60

60

13.7

9.6

Capital Expenditures

2,648

4,900

2,251

85.0

Depreciation & Amortization

2,713

2,500

-213

-7.9

744

600

-144

19.4

Dividend (yen)ROE (%)

Research & Development Expenses

12Forecast on Sales Revenue andOperating Profit by Business Segment

Sales Revenue
FYE 3/2022
ActualFYE 3/2023
Forecast

32,330Operating Profit
Increase/
Decrease

FYE 3/2022
ActualFYE 3/2023
Forecast

Amount％Amount％32,930

599

1.9

4,776

3,990

-786

-16.5

4,676

4,370

-306

-6.6

764

570

-194

-25.5

MedicalBusiness

100

-

-100

-

-729

-

729

-

Other

189

200

10

5.6

20

30

9

43.2

-

-

-

-

-248

10

258

-

37,29637,500

203

0.5

4,583

4,600

16

0.4

(million yen)
High-Purity
ChemicalBusiness
Transportation
Business

Eliminations
and Corporate

Total

Increase/
Decrease

13

Change in Classification ofHigh-Purity Chemical BusinessIn the High-Purity Chemical Business, we have used nine categories for presentation. However, in light of the current
business strategy and business scale, we will change the number of categories to six as shown in the following table fromthe fiscal year ending March 2023.
New categories in High-Purity Chemical Business (from the fiscal year ending March 2023)
New categories (six)Semiconductors
EnergyElectronic Materials

General Products

Industrial Hydrofluoric Acid

Purchased Goods

New categories in detail(Reference)
Old categories

High-purity Hydrofluoric Acid for
Semiconductors/LCDs

Semiconductors/
LCDs

Fluoride materials for batteries

Batteries

Enriched Boron

General Products

Fluoride materials for raw materials used
for semiconductor devices/capacitors

Semiconductor
Devices

R&D Products(Phosphor materials etc)

General Products

Fluoride materials for catalysts

Catalysts

Fluoride materials for toothpaste(Tin Fluoride）

General Products

Other Fluoride materials

General Products

Hydrofluoric Acid for surface treatment

Surface
Treatment

Anhydrous Hydrofluoric Acid foralternatives for CFCs

Alternatives for
CFCs

GypsumGypsumAnhydrous Hydrofluoric Acid foralternatives for CFCs(Purchase & Sale)

Alternatives for
CFCs

Purchased Goods

Other

14

(million yen)
Semiconductors

FYE 3/2022
ActualFYE 3/2023
Forecast

Increase/
Decrease

Sales Revenue Constituent Ratio

Percentage
Increase/
Decreaseof High-Purity Chemicals
Purchased

17,85919,570

1,710

9.6

Goods

Industrial

Hydrofluoric Acid 14%

Sales Revenue
28.75 billion Yen Semiconductors
59%（Abroad 54.5%）

11%

3,121

Energy1,500-1,621-51.9

GeneralProducts
7%

Electronic Materials

1,280

1,320

39

Electronic Materials 4%

3.1

Energy5%General Products

2,246

2,440

193

8.6

Semiconductors Shipping Ratio by Country
100%

Industrial
Hydrofluoric Acid

3,919

3,600

-319

-8.1

Other
Singapore

Purchased Goods

3,904

4,500

595

Taiwan15.3

South Korea
Japan

合計

32,33032,930599

1.9

FYE 3/2022

FYE 3/2023

ActualForecast

15

Shareholder Return
Stella Chemifa’s basic policy is to provide stable and continuous dividend payments, giving comprehensive
consideration to factors including its financial condition and profit level. Retained earnings will be allocatedto capital investment and R&D investment, and will be proactively utilized for future business development
to enhance corporate value.
 FYE3/2022

 Annual dividend: 60 yen per share (Annual dividends 50yen,Special dividends 10yen)

 The Company repurchased 300,000 of its own shares,
worth 840 million yen.
 FYE3/2023

 Annual dividend forecast: 60 yen per share

65

Special dividends

60

Annual dividends (yen per share)

55

Dividend payout ratio（%）

50

30.2

10

20.4

24.7

17.9
14.2

45
40
35

45

45

47

50

60

FYE3/2019

FYE3/2020

FYE3/2021

FYE3/2022

FYE3/2023(Forecast)

30

50.0
45.0
40.0
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0

16

Reference Material（Corporate Profile ・ Introduction of Our Business）

Corporate Profile(as of June 30, 2022)
Corporate NameSTELLA CHEMIFA CORPORATIONHead Of f ice

Meiji Yasuda Seimei Osaka Midosuji Bldg. 10F,
4-1-1 Fushimi-machi, Chuo-ku, Osaka City, Osaka

Founded/EstablishedFebruary 1916 / February 1944

Capital Fund

4,829,782,512 yen

Representatives

Representative Director, President and Chief Executive Officer: Aki Hashimoto
Representative Director, Senior Managing Director(Products Management Group): Kiyonori Saka

U

R

L

https://www.stella-chemifa.co.jp/english/

Number of Employees

289

Sales Department

Osaka Sales Department (Chuo-ku, Osaka city, Osaka)
Tokyo Sales Department (Chiyoda-ku, Tokyo)

F a c t o r y

Sanpo Factory(Sakai-ku, Sakai City, Osaka)
Izumi Factory (Izumiotsu City, Osaka)
Kitakyushu Factory (Yahatanishi-ku, Kitakyushu City, Fukuoka)
18

Subsidiaries & Associates

At home (3 companies)
Transportation BusinessBLUE EXPRESS, Inc.

Sakai-ku, Sakai City, OsakaO t h e r

B u s i n e s sBLUE AUTO TRUST Co., Ltd.

Sakai-ku, Sakai City, Osaka

MedicalBusiness

STELLA PHARMA CORPORATION

Chuo-ku, Osaka city, Osaka

Abroad (６ companies)
High-Purity Chemical Business

STELLA CHEMIFA SINGAPORE PTE LTD

Singapore

Transportation Business

STELLA EXPRESS (Singapore) PTE LTD

Singapore

High-Purity Chemical BusinessBlue Express (Shanghai) International Trade Inc.

China

Transportation BusinessBlue Express (Shanghai) International Freight Forwarding Co., Ltd.

China

High-Purity Chemical Business

Zhejiang Blue Star Chemical Co., Ltd.

China

High-Purity Chemical Business

Quzhou BDX New Chemical Materials Co., Ltd.

China

19

Introduction of Our Business
Manufacture and applications of hydrogen fluoride

CaF2+ H2SO4 =2HF

Calcium fluoride(Fluorite)

Concentrated
sulfuric acid

Hydrogenfluoride* There are five main grades of fluorite purity,and for semiconductor applications, highquality fluorite with a purity of 97% or higher
is required.

+ CaSO4
Calcium
sulfateConcretematerials, etc.

Reaction and refinement using our proprietary technology

Treatment of
surface such as
stainless steel

Raw materials
such asalternatives for
CFCs

Etching agent for
semiconductor
liquid crystals

Materials forlithium-ion
secondarybatteries

Camera lens materials
for semiconductor
manufacturing
equipment

Reaction catalyst
Other products

20Introduction of Our Business
High-Purity Chemical Business
Semic o nduc to rs

・Manufacture and sale of chemicals for etching and cleaning in the semiconductor and LCD panel manufacturing processes
・Manufacture and sale of additives to improve the performance of lithium-ion secondary batteries

E

n

e

r

g

y
・Manufacture and sale of concentrated boron (boron 10) used for nuclear power and cancer therapy (BNCT)・Manufacture and sale of tantalum production aids for tantalum capacitors
E l e c t r o n i c

・Manufacture and sale of raw materials for camera and stepper lenses

M a t e r i a l s・Manufacture and sale of R&D products in the small-quantity production stage・Manufacture and sale of raw materials for production of phosphors and phosphors used for LEDs
・Manufacture and sale of a range of chemicals and catalysts for the manufacture of pharmaceutical intermediates, etc.

General Products

・Manufacture and sale of toothpaste additives to prevent tooth decay and gingivitis
・Manufacture and sale of other fluorine compounds

I n d u s t r i a l

・Manufacture and sale of hydrofluoric anhydride, raw materials for CFCs and fluoropolymers

Hydrofluoric Acid・Manufacture and sale of chemicals used for acid cleaning of stainless steel and slimming of LCD panels

Purchased Goods

・Sales of purchased goods

21Introduction of Our Business- Semiconductors -Ultra-High Purification Technology••

Impurity levels of less than 1 ppt (1×10-12) are controlled by ultra-purification and ultra-cleaning
technologies
Mass production of ultra-pure chemicals for ultra-high integrated circuit

Ultra High Purity•

Hydrofluoric acid (HF) is the only chemical capable of etching out silicon oxide film•

Chemical solutions are indispensable to the semiconductor manufacturing process andrequire ultra-high purity

Hydrofluoric Acid

Ultra High Purity Buffered
Hydrofluoric Acid•

In particular, dilute hydrofluoric acid is used in a number of semiconductor processes•

Mixed aqueous solution of hydrofluoric acid (HF) and ammonium fluoride (NH4F)•

Mainly used in processes such as etching and cleaning of insulation films•

Chemicals with etch rates ranging from tens of Å/min to thousands of Å/min can be produced

Example of Application (Photolithography Process)(1) Photoresist coating
on silicon wafer(heat drying)(2) ExposureLight(3) Development(4) Etching(Dissolve silicon oxide filmwith hydrofluoric acidchemicals)(5) Photoresist
stripping

Photoresist
Silicon oxide film

Silicon substrate

22

Introduction of Our Business- Semiconductors -Production capacity of High Purity Hydrofluoric Acid for Semiconductors
Kitakyushu Factory

Kitakyushu City, Fukuoka

30,000 t /year

Sanpo Factory

Sakai City, Osaka

65,000 t /year

STELLA CHEMIFASINGAPORE

Singapore

10,000 t /year

105,000 t /year* As a comprehensive manufacturer of fluorine compounds, we use our own
technology to do everything from manufacturing to filling.
23

Introduction of Our Business- Energy -Additives Additive for electrolytic solution to improve the performance oflithium-ion secondary batteries
 High-temperature endurance・High conductivity・
Increased capacity・Low resistance・Flame retardanceIzumi Factory's manufacturingbuilding (Izumiotsu City, Osaka)

Lithium Hexafluorophosphate High-purity electrolytes for lithium-ion secondary batteries* Manufacture and sale at our affiliate company in China (Quzhou BDX New Chemical Materials Co., Ltd. )Example of materials used in lithium-ion secondary batteries

Additives

Positive andnegative electrodeSeparator

Current
collector

Electrolyte

BinderProtective IC

PTC element

Quzhou BDX New Chemical
Materials Co., Ltd. (China)

24

Introduction of Our Business- Energy -Enriched Boron (Boron-10) and its features
 Natural boron is made up of two isotopes, boron-10(20%) and boron11(80%)
 Developed technology to enrich boron-10 to over 99%
 Established mass production technology of enriched boron for the first timein Japan(2000)
 Boron-10 has an extremely high capacity to absorb neutrons, and further
enriching it can increase its ability to absorb neutrons.

Production capacity
Enrichment plant(Izumiotsu City, Osaka)

Production Capacity

Products

6,000kg

Enriched Boron

10B

Enriched Boric Acid

H310BO3

36,000kg

K10BF475,000kg

Enriched Potassium
tetrafluoroborate

25

Introduction of Our Business- Energy -Applications of Enriched Boron Compounds
 Neutron-absorbing material of spent nuclear fuel transportation and storage containers Material of control rods of nuclear reactors and rack material of spent nuclear fuel pools Excess reaction control of pressurized-water reactors by dissolving into primary coolingwater
 Water source for facilities responding to specific major accidents, etc.
 Raw material for cancer treatment drugs (BNCT: Boron Neutron Capture Therapy)

Advantages of Using Enriched Boric Acid
(1) Improvement of corrosive environment in nuclear reactors
Required 10B concentration can be secured at 1/5 of natural products.
Operation at low concentration is possible, and corrosion in facilities can be reduced.
(2) Reduction of storage costs
Heating and heat retention are required to maintain the dissolution of boric acid water.
Enriched boric acid realizes the reduction in concentration, and reduces the problem of heatretention.
In addition, the storage tank can be made smaller.

(3) More reliable control
In the event of an emergency stop, more reliable control is possible, and since boric acid isharmful to the human body and the environment, the reduction of overall amount of boric
acid is an advantage.
26

Introduction of Our Business- General Products -Tin Fluoride 2017
The GMP inspection by USFDA for tin fluoride, an active ingredient of OTC anticaries drugs, wascompleted, and obtained official approval.
 2018Started marketing of “tin fluoride” as a GMP-compliant product.

<Actions of fluorine on teeth>■ To suppress Streptococcus mutans from producingacid (Cavity prevention)■ To promote tooth remineralization■ To form acid-resistant teeth (to form fluorapatite)* We expect to see big demand mainly inEurope and the US, where there is strong
Izumi Factory's manufacturing building
interest in dental health and beauty.
(Izumiotsu City, Osaka)
 We are also developing new applications other than toothpaste(e.g., hoof sterilization)
27

Introduction of Our Business- New Initiatives(Semiconductors) -Chemicals for semiconductors
 Development of functional chemical solutions to meet the requirements ofmanufacturers of DRAM, which is becoming increasingly smaller, and 3D NAND,
which is increasingly multilayered Smaller particle sizes will be guaranteed as logic and memory become smaller

Development andproposal of highly
functional chemicals

28

Introduction of Our Business- New Initiatives(Electronic Materials) Mini LED market/× 106 units

Phosphor-related Materials

Development of highly efficient and long-life fluoride phosphor
materials using our core technologies
Research on the use of mini LEDs for automotive display applications is
attracting attention.
 Red phosphor materials

LSA-61A

 Phosphor materials

NSM, PBFS Filler for LED sealant

MgF2, CaF2 nanoparticles

LCD
Color
filterLiquidcrystal

Backlight

25
20
15
10
5
0
2020

OLED
Self-light-emittingorganic material

Source: Yano Research Institute2019 LED Display Market and Future Prospects

30

2022

Mini LED
Color
filterLiquidcrystalMini LED
backlight

2024

2027

Micro LED
Phosphor sheet
Blue LED

Micro LED

Structural
diagram

Brightness

×

△

〇

〇

〇

Life

〇

×

〇

〇

〇

-40 to 100°C-30 to 80°C

-40 to 100°C-40 to 100°C-40 to 100°C

Done

Done

Under development

Under development

In the future

Working
temperature
Status ofdevelopment

29

Introduction of Our Business- New Initiatives(Electronic Materials) -PCB Materials (Low Dielectric Constant Materials)
As materials for high-frequency communication devices, used as additives (fillers) to resin and other materials for substrates.
4G resin materials

(%)
PI
4G

PPE

EPOXY

5G, beyond 5G resin materials
MPI:There is room for improvement
in dielectric properties

5G

LCP

:There are issues in formability

3G
6G
2G

Fluororesin
mixture:There are issues in formability

PPS:There are issues in heat resistance

Fiscal year
Figure. Forecast percentage of networks in global mobile networks(our forecast based on The Mobile Economy 2020)

Development of Materials for the Next-Generation
Battery[Metal-ion secondary batteries]

High-purity electrolytes for sodium-ion secondary
batteries (sodium hexafluorophosphate)[All-solid secondary batteries]

Fluoride materials for all solid-state batteries

Filler powderHigh frequency
signal transmission Adhesion
layer(copper wiring)
Substratesurface

Filler for suppression of dielectric loss
(transmission loss inside the substrate)[Fluoride-ion secondary batteries] Fluoride-ion conductor material
30Introduction of Our Business- Other product examples Optical Material-Related(Product information)◆Calcium Fluoride◆Aluminum Fluoride◆Magnesium Fluoride ◆Lead Fluoride◆Lithium Fluoride◆Strontium Fluoride◆Barium Fluoride

Reactive Catalyst-Related◆High Purity Boron Trifluoride◆Boron Trifluoride Diethyl Ether◆Boron Trifluoride n-Butyl Ether◆Boron Trifluoride Tetrahydrofuran◆Boron Trifluoride Monoethyl Amine ◆Boron Trifluoride Piperidine◆Boron Trifluoride Dimethyl Ether◆Boron Trifluoride Phenol◆Triethylamine 3HF

Surface Treatment, Alternatives for CFCs-Related

Nuclear Energy-Related◆Anhydrous Hydrofluoric Acid

◆10B Enriched Potassium Fluoroborate◆ 10B Enriched Boric Acid

◆55% Hydrofluoric Acid

Other Products◆Fluorosilicic Acid
◆Potassium Fluorosilicate◆Fluoroboric Acid
◆Tin Fluoroborate◆Copper Fluoroborate◆Lead Fluoroborate◆Zinc Fluoroborate◆Sodium Fluoroborate◆Potassium Fluoroborate◆Ammonium Hydrogenfluoride◆Sodium Fluoride◆Potassium Fluoride◆Ammonium Fluoride◆Potassium Hexafluorozirconate◆Potassium Hexafluorotitanate ◆Refined Calcium Fluoride ◆Potassium Hexafluorophosphate

Newly-Developed Products◆Detergents Contributing to Increase in Chemical Lifetime ◆Detergents Suppressing Etching of Silicon Nitride Film
◆Detergents Inhibiting Silicon and Polysilicon Damage◆Battery-Related（ Ionic Liquids, Electrolytes for Sodium Ion Batteries - Sodium Hexafluorophosphate,
Additives for Lithium-Ion Batteries,）◆Various Fluoride Nanoparticles Dispersant (Magnesium, Lithium, Ytterbium, Calcium, CNP-P)◆Phosphor materials◆Nuclear Energy Industry◆5G/6G (Information Communication Systems), Printed Circuit Board◆Special-Purpose Inorganic Fluorine Compounds◆Fluorinated Carbon Nano-Tubes

31

Introduction of Our Business* For details, please visit the website.

32

Introduction of Our Business- Transportation Business (HP URL)

Transportation BusinessBLUE EXPRESS, Inc.

T r a n s p o r t

Land transport ・Marine transport・Rail transport

Customs Clearance

Customs clearance ・Loading and Unloading

Warehousing

Providing multi-functional warehouses fully equipped with the latest systems

Supplying large and pressurized containers that meet ISO specifications,
medium-size IBC pressurized containers, as well as IBC containers with UN
Container services
specifications,and also offering services for cleaning, repairing and leasing thecontainers
Customs
clearance sites

Shipping terminals

Overseas Bases

Ohama OfficeSendai Office

Singapore

Osaka Office

Kanto Office

China(Shanghai)

Yokohama Office

Yokohama OfficeShimizu Office
Nagoya Office
Ohama Office
Kobe Office
Kitakyushu Office33