Disclaimer: This document is an English translation of the original document in Japanese and has been
prepared solely for reference purposes. In the event of any discrepancy between this English
translation and the original in Japanese, the original shall prevail in all respects.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
[Under Japanese GAAP]May 9, 2023
Company name: STELLA CHEMIFA CORPORATION
Listing: Tokyo Stock Exchange
Securities code: 4109
URL: https://www.stella-chemifa.co.jp
Representative: Aki Hashimoto, Representative Director, President and Chief Executive Officer
Inquiries: Yasuhiko Nakashima, Director, Executive Officer and General Manager, Accounting Department
Telephone: +81- 6-4707-1512
Scheduled date of annual general meeting of shareholders: June 27, 2023
Scheduled date to commence dividend payments: June 2, 2023
Scheduled date to file annual securities report: June 28, 2023
Preparation of supplementary material on financial results: Yes
Holding of financial results briefing: Yes (for institutional investors)(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated financial results for the fiscal year ended March 31, 2023 (April 1, 2022 - March 31, 2023)(1) Consolidated Operating Results(Percentages indicate year-on-year changes.)
Profit attributable toSales revenue
Operating profit
Ordinary profit
owners of parent
Fiscal year ended
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
March 31, 2023
35,382(5.1)
3,514(23.3)
4,347(23.8)
2,280(57.5)March 31, 2022
37,296
13.4
4,583
12.3
5,707
42.0
5,364
81.3
(Note) Comprehensive income: For the fiscal year ended March 31, 2023: ¥2,609 million [(54.0)%]
For the fiscal year ended March 31, 2022: ¥5,671 million [112.9%]
DilutedRatio ofRatio of
Basic earnings
Return on
earnings
ordinary profit
operating profit
per share
equityto total assets
to sales revenue
per share
Fiscal year ended
Yen
Yen
%
%
%
March 31, 2023
186.03
–
5.4
7.8
9.9
March 31, 2022
422.97
–
13.7
10.4
12.3
(Reference) Share of profit (loss) of entities accounted for using equity method:
For the fiscal year ended March 31, 2023: ¥329 million
For the fiscal year ended March 31, 2022: ¥994 million(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

Equity-to-asset ratio

Millions of yen

55,471
As of March 31, 2023
56,598
As of March 31, 2022
(Reference) Equity: As of March 31, 2023: ¥42,875 million
As of March 31, 2022: ¥42,170 million

43,162
42,728

Net assets per share

%

Yen

77.3
74.5

3,568.67
3,369.93(3) Consolidated Cash Flows

Fiscal year ended
March 31, 2023
March 31, 2022

Cash and cash
equivalents at theend of period

Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

5,634
5,403

(3,281)(5,674)(3,717)94

14,72815,538

2. Cash dividendsFirstquarterend

Annual dividends
SecondThird
Fiscalquarter- quarteryearend
end
end

Yen

Yen

Yen

Yen

Total
Yen

Total cash
dividends(Total)Payout ratio(Consolidated)

Ratio ofdividends to
net assets(Consolidated)%%

Millions ofyen

Fiscal year ended
–
24.00
–
36.00
60.00
766
14.2
1.9
March 31, 2022
Fiscal year ended
–
30.00
–
30.00
60.00
735
32.3
1.7
March 31, 2023
Fiscal year ending
March 31, 2024
–
–
60.00
–
–
–
(Forecast)(Note) The year-end dividend for the fiscal year ending March 31, 2024 is undecided because it will be determinedbased on the future outlook and consideration of the shareholder return method.
3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 - March 31,2024)(Percentages indicates changes from the previous corresponding period.)
Profit attributable toEarnings
Sales revenue
Operating profit
Ordinary profit
owners of parent
per share
Millions of yen

Full year

32,300% Millions of yen

(8.7)

2,800

% Millions of yen(20.3)

2,450% Millions of yen(43.7)

1,650

%

Yen

(27.7)

137.33* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: – (Company name: –)Excluded: – (Company name: –)(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to revisions to accounting standards and other regulations: None
2) Changes in accounting policies due to other reasons: None
3) Changes in accounting estimates: None
4) Restatement: None
(3) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2023:
13,213,248 shares
As of March 31, 2022:
13,213,248 shares
2) Number of treasury shares at the end of the period
As of March 31, 2023:
As of March 31, 2022:

1,198,814 shares
699,457 shares

3) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023:
12,260,466 sharesFiscal year ended March 31, 2022:
12,683,891 shares

(Reference) Overview of non-consolidated financial results
1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (April 1, 2022 - March 31, 2023)(1) Non-consolidated Operating Results(Percentages indicate year-on-year changes.)
Sales revenue
Operating profit
Ordinary profit
ProfitFiscal year ended
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
March 31, 2023
20,482(12.1)
2,509(41.4)
3,591 (28.6)
1,801 (57.9)
March 31, 2022
23,307
10.4
4,284
21.9
5,029
21.9
4,280 44.9

Fiscal year ended
March 31, 2023
March 31, 2022

Basic earnings
per share

Diluted earnings
per share

Yen

Yen

146.97337.46––(2) Non-consolidated financial position
Total assets
Millions of yen

Net assets
Millions of yen

As of March 31, 2023
38,505
As of March 31, 2022
40,113(Reference) Equity: As of March 31, 2023: ¥30,668 million
As of March 31, 2022: ¥31,096 million

30,71631,145Equity-to-asset ratio

Net assets per share

%

Yen

79.6
77.5

2,552.61
2,484.99* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Explanation of the proper use of financial results forecast and other notes
The forward-looking statements in this document, including financial results forecasts, are based on the informationin current possession of the Company and the assumptions it believes are reasonable. They are not intended as theCompany’s promise to achieve them. Note also that actual financial results may differ significantly from them. For
the assumptions that form the basis of financial results forecasts and notes on their use, see “1. Overview of Operating
Results, etc. (4) Future Outlook” on page 4 of the Attachments.

Table of Contents - Attachments
1. Overview of Operating Results, etc. ..................................................................................................... 2(1) Overview of Operating Results for the Fiscal Year under Review ................................................... 2(2) Overview of Financial Position for the Fiscal Year under Review .................................................. 3(3) Overview of Cash Flows for the Fiscal Year under Review ............................................................. 3(4) Future Outlook ................................................................................................................................. 4(5) Significant Events Relating to Going Concern Assumption ............................................................ 4
2. Basic Policy on Selection of Accounting Standards ............................................................................. 4
3. Consolidated Financial Statements and Principal Notes ...................................................................... 5(1) Consolidated Balance Sheet ............................................................................................................. 5(2) Consolidated Statements of Income and Comprehensive Income ................................................... 7(3) Consolidated Statement of Changes in Net Assets ........................................................................... 9(4) Consolidated Statement of Cash Flows .......................................................................................... 11(5) Notes to Consolidated Financial Statements .................................................................................. 13(Notes on going concern assumption) ....................................................................................... 13(Segment information, etc.) ....................................................................................................... 13(Per share information) .............................................................................................................. 16(Significant subsequent events) ................................................................................................. 16

1

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Fiscal Year under Review
Despite the gradual easing of economic restrictions associated with the COVID-19 pandemic, the outlook for
the Japanese economy for the fiscal year under review still remains uncertain owing to a variety of factors,
including the sharp rise in prices of raw materials resulting from the prolonged Russia-Ukraine conflict and thesudden fluctuations in exchange rates in response to global monetary tightening policies.
In this environment, the Group continued to supply a diverse range of fluoride products in line with theneeds of customers mainly in the information and communication industry in Japan and overseas, as well as
developing the chemical product distribution business based on the unique know-how acquired in thetransportation of special cargo.
In regard to the performance for the fiscal year under review, despite a decrease in the shipment volume in
the Semiconductors, revenue increased owing to efforts to pass through the rise in prices of raw materials;
however, there was also a decrease in the shipment volume in the Energy and the Industrial Hydrofluoric Acid.
As a result, sales revenue decreased to 35,382 millions of yen (down 5.1% year on year).
In terms of profits, operating profit amounted to 3,514 millions of yen (down 23.3% year on year), in
addition to a reduction in sales revenue, the impact of supply and demand in the Chinese market and theweakening yen led to a year-on-year increase in the price of anhydrous hydrofluoric acid, a key raw material.
Ordinary profit amounted to 4,347 millions of yen (down 23.8% year on year) due to a decline in operating profit
despite recording share of profit of entities accounted for using equity method for Quzhou BDX New Chemical
Materials Co., Ltd., an equity method affiliate. Moreover, while recording gain on sale of investment securities
as extraordinary income due to sale of an unlisted security, impairment loss in property, plant and equipment(construction in progress), which is held for the purpose of raising the production, was recorded as extraordinary
losses regarding additives for lithium-ion secondary batteries in the Energy under the High-purity Chemical
Business. As a result, profit attributable to owners of parent amounted to 2,280 millions of yen (down 57.5%
year on year).
<High-purity Chemical>
In the High-purity Chemical Business, despite the shipment volumes in the Semiconductors, a mainstay of thebusiness, decreasing from the previous fiscal year due to the impact of a gradual decline in production centeredon memory manufacturers, the Company’s major purchasers, sales revenue in the Semiconductors amounted to
19,049 millions of yen (up 6.7% year on year) owing to efforts to pass through the rise in prices of raw materials.
However, sales revenue for the High-purity Chemical Business amounted to 30,707 millions of yen (down 5.0%
year on year) owing to a decrease in the shipment volumes in the Energy and the Industrial Hydrofluoric Acid.
In terms of profits, operating profit amounted to 2,961 millions of yen (down 38.0% year on year) due to a
reduction in sales revenue, as well as the effects of an increase in the price of anhydrous hydrofluoric acid, a key
raw material, from the previous fiscal year.

<Transportation>
In the Transportation Business, sales revenue amounted to 4,504 millions of yen (down 3.7% year on year), as aresult of the decreased transportation-related transaction volume from the previous fiscal year.
In terms of profits, operating profit amounted to 533 millions of yen (down 30.2% year on year) due to anincrease in transportation-related costs such as rises in diesel prices.
<Medical>As Stella Pharma Corporation, which operates as a medical business, was changed from a consolidated
subsidiary to an equity method affiliate, no actual results for this segment were recorded during the fiscal year
under review.

2

In the previous fiscal year, sales revenue amounted to 100 millions of yen and operating loss amounted to
729 millions of yen.
<Other>In other business lines, sales revenue amounted to 170 millions of yen (down 10.0% year on year) and operating
profit amounted to 30 millions of yen (up 46.8% year on year), as a result of a decrease in revenue from theinsurance agency business from the previous fiscal year.

(2) Overview of Financial Position for the Fiscal Year under Review(Assets)
Current assets at the end of the fiscal year under review decreased by 1,966 millions of yen (6.4%) from the endof the previous fiscal year to 28,615 millions of yen. The main reasons for this decline included a decrease of
798 millions of yen in cash and deposits and of 1,504 millions of yen in accounts receivable - trade. Non-current
assets increased by 839 millions of yen (3.2%) from the end of the previous fiscal year to 26,856 millions of yen.
The main reasons for this increase included an increase of 957 millions of yen in property, plant and equipment.
Consequently, total assets at the end of the fiscal year under review decreased by 1,126 millions of yen fromthe end of the previous fiscal year to 55,471 millions of yen.
(Liabilities)
Current liabilities at the end of the fiscal year under review decreased by 909 millions of yen (9.3%) from theend of the previous fiscal year to 8,894 millions of yen. The main reason for this decline included a decrease of
985 millions of yen in income taxes payable. Non-current liabilities decreased by 651 millions of yen (16.0%)
from the end of the previous fiscal year to 3,414 millions of yen. The main reason for this decline included a
decrease of 932 millions of yen in long-term borrowings.
Consequently, total liabilities at the end of the fiscal year under review decreased by 1,560 millions of yen
from the end of the previous fiscal year to 12,309 millions of yen.
(Net assets)
Total net assets at the end of the fiscal year under review amounted to 43,162 millions of yen, an increase of 434
millions of yen from the end of the previous fiscal year. The main reasons for this growth included increases of
1,454 millions of yen in retained earnings, 653 millions of yen in foreign currency translation adjustment, and
1,348 millions of yen in treasury shares, which is a deduction.
Consequently, the equity-to-asset ratio was 77.3% (74.5% at the end of the previous fiscal year).

(3) Overview of Cash Flows for the Fiscal Year under Review
Cash and cash equivalents (hereafter “funds”) for the fiscal year under review decreased by 810 millions of yen
from the end of the previous fiscal year and amounted to 14,728 millions of yen at the end of the fiscal year
under review.
The status of cash flows and their contributing factors for the fiscal year under review are as follows.
[Cash flows from operating activities]
Funds provided by operating activities amounted to 5,634 millions of yen (up 231 millions of yen year onyear).
The major components included profit before income taxes of 3,366 millions of yen, depreciation of
2,593 millions of yen, impairment losses of 1,926 millions of yen, gain on sale of investment securities of
1,258 millions of yen, decrease in trade receivables of 1,688 millions of yen, and income taxes paid of 2,369
millions of yen.

3

[Cash flows from investing activities]
Funds used in investing activities amounted to 3,281 millions of yen (down 2,393 millions of yen year onyear).
The major components included purchase of property, plant and equipment of 4,586 millions of yen andproceeds from sale of investment securities of 1,295 millions of yen.
[Cash flows from financing activities]
Funds used in financing activities amounted to 3,717 millions of yen (funds provided of 94 millions of yen
for the previous fiscal year).
The major components included repayments of long-term borrowings of 1,494 millions of yen, purchaseof treasury shares of 1,348 millions of yen, and dividends paid of 825 millions of yen.

(4) Future Outlook
For the consolidated results forecast for the next fiscal year, although an increase in sales of enriched boron(boron-10) used in nuclear energy-related facilities is expected in the Energy under the High-purity Chemical
Business, sales in the Semiconductors, which is a mainstay of the business, are expected to be weak due to theslowdown in the semiconductor market. Accordingly, the Group forecasts sales revenue of 32,300 millions ofyen (down 8.7% year on year), operating profit of 2,800 millions of yen (down 20.3% year on year), ordinary
profit of 2,450 millions of yen (down 43.7% year on year), and profit attributable to owners of parent of 1,650
millions of yen (down 27.7% year on year).
<Consolidated Results Forecast of the Group>
For the fiscal year ended
March 31, 2023
(Actual results)
Millions of yen
Sales revenue
35,382
Operating profit
3,514
Ordinary profit
4,347
Profit attributable to2,280
owners of parent

For the fiscal year ending
March 31, 2024
(Forecast)Millions of yen
32,300
2,800
2,450
1,650

Increase/Decrease%(8.7)(20.3)(43.7)(27.7)(5) Significant Events Relating to Going Concern Assumption
Not applicable.

2. Basic Policy on Selection of Accounting Standards
The Group uses accounting principles generally accepted in Japan, in reflection of the fact that most parties withinterests in the Group are shareholders, creditors, and business partners within Japan and there is little need for
procurement of funds from outside Japan.
The Group’s policy with regard to the adoption of international accounting standards is to formulate
appropriate responses in light of conditions in Japan and overseas going forward.

43. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Electronically recorded monetary claims - operating
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
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Land
Leased assets
Construction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of March 31, 2023

15,895
35
8,542
65
2,175
1,510
1,584
789
(17)
30,581

15,097
31
7,038
41
2,124
1,701
1,671
924
(14)
28,615

20,147(13,612)
6,535
29,090(24,317)
4,772
5,467
132
3,147
8,759
(7,148)
1,611
21,66722,593(14,026)
8,567
28,955(24,427)
4,527
5,467
165
1,833
9,738
(7,675)
2,063
22,625

375
375

261
261

3,206
330
437
(0)
3,973
26,01656,598

3,055
457
458
(0)
3,970
26,85655,471

(Millions of yen)
As of March 31, 2022
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Electronically recorded obligations facilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (andother officers)
Provision for share awards
Retirement benefit liability
Asset retirement obligations
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-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

6

As of March 31, 2023

1,743
876
1,920
1,494
902
1,370
379

1,469
799
1,920
932
1,322
384
387

55

36

401
660
9,804

1,069
573
8,894

2,003

1,070

31

34

99
956
645
329
4,065
13,869

121
950
689
548
3,414
12,3094,829
8,793
29,450(1,642)
41,4304,829
8,793
30,904(2,991)
41,536

50
46
643
739
49
508
42,72856,598

42
－
1,296
1,339
48
238
43,16255,471

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statement of Income(Millions of yen)

Sales revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodRental income from land and buildings
Subsidy income
Foreign exchange gains
Consignment income from research and development
Other
Total non-operating income
Non-operating expenses
Interest expenses
Depreciation
Share issuance costs
Loss on valuation of derivatives
Loss on cancellation of insurance policies
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of shares of subsidiaries and associates
Gain on sale of investment securities
Gain on change in equity
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Loss on sale of non-current assets
Impairment losses
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

For the fiscal year ended
March 31, 2022
37,29628,394
8,902
4,318
4,583

For the fiscal year ended
March 31, 2023
35,382
27,972
7,410
3,896
3,514

10
3

34
3

994

329

27
44
102
17
39
1,240

29
129
283
－
197
1,008

35
6
37
3
16
18
116
5,707

32
－
－
130
－
11
175
4,347

21
1,182
－
－
1,203

13
－
1,258
129
1,401

70
0
－
70
6,840
1,786
28
1,814
5,026
(338)
5,364

453
1
1,926
2,382
3,366
1,426
(43)
1,383
1,983
(297)
2,280

7

Consolidated Statement of Comprehensive Income(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

For the fiscal year ended
March 31, 2022
5,026

For the fiscal year ended
March 31, 2023
1,983

7
35
541

(7)
(46)
574

60

105

645
5,671

626
2,609

5,949

2,880

(278)

(270)

8

(3) Consolidated Statement of Changes in Net Assets
Fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

4,829

7,311

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares bystocks payment trust
Capital increase of consolidated
subsidiaries
Sale of shares of consolidated
subsidiaries
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period－

Retainedearnings
24,719

(795)

(634)

(634)

5,364

5,364
(847)

(847)

0

0

1,605

1,605

(123)

(123)

1,481
8,793

4,829

Total
shareholders’equity36,065

Treasury shares

4,730
29,450(847)(1,642)

5,364
41,430

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares bystocks payment trust
Capital increase of
consolidated subsidiaries
Sale of shares of consolidated
subsidiaries
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

42

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

11

101

Total
accumulated
othercomprehensive

Shareacquisitionrights

Noncontrollinginterests

Total net
assets50

486

36,758income

155

(634)
5,364
(847)
0
1,605
(123)
7

35

542

584

(1)

21

605

7
50

35
46

542
643

584
739

(1)
49

21
508

5,969
42,7289

Fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders’ equity
Share capital

Capital surplus

4,829

8,793

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares bystocks payment trust
Capital increase of consolidated
subsidiaries
Sale of shares of consolidated
subsidiaries
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

－
4,829

Retainedearnings

Treasury shares

29,450(1,642)

Total
shareholders’equity41,430

(826)

(826)

2,280

2,280
(1,350)(1,350)

1

1

－

－

－

－

1,454
30,904－
8,793(1,348)(2,991)

105
41,536

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to ownersof parent
Purchase of treasury shares
Disposal of treasury shares bystocks payment trust
Capital increase of
consolidated subsidiaries
Sale of shares of consolidated
subsidiaries
Net changes in items otherthan shareholders’ equity
Total changes during period
Balance at end of period

50

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

46

643

Total
accumulated
othercomprehensive

Shareacquisitionrights

Noncontrollinginterests

Total net
assets49508

42,728income

739

(826)
2,280
(1,350)
1
－
－
(7)

(46)

653

599

(0)

(270)

328

(7)
42

(46)
－

653
1,296

599
1,339

(0)
48

(270)
238

434
43,16210

(4) Consolidated Statement of Cash Flows(Millions of yen)
For the fiscal year ended
March 31, 2022
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for bonuses for directors(and other officers)
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Increase (decrease) in provision for retirement benefits for
directors (and other officers)
Increase (decrease) in provision for share awards
Interest and dividend income
Interest expenses
Subsidy income
Loss (gain) on sale and retirement of property, plant andequipment
Loss (gain) on sale of shares of subsidiaries and associates
Loss (gain) on sale of investment securities
Loss (gain) on valuation of derivatives
Share of loss (profit) of entities accounted for using equity
methodLoss (gain) on change in equity
Foreign exchange losses (gains)
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in other current assets
Increase (decrease) in other current liabilities
Decrease (increase) in consumption taxes refund
receivable
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries and associates
Proceeds from sale of shares of subsidiaries and associates
Payments for sale of shares of subsidiaries resulting inchange in scope of consolidation
Other payments
Other proceeds
Net cash provided by (used in) investing activities

11

For the fiscal year ended
March 31, 2023

6,840
2,713
－
0

3,366
2,593
1,926
(3)

7

(18)

3
52

7
(6)

(1)

3

24
(14)
35
(44)

21
(38)
32
(129)

49

441

(1,182)－
3－(1,258)
130

(994)

(329)

－
(237)
10
(1,128)
482
(139)
(35)

(129)
(354)
1,688
(130)
(446)
328
143

(40)

(480)

(73)
402
6,731
14
(35)
44
(1,351)
5,403

(219)
84
7,225
682
(32)
129
(2,369)
5,634

(399)
389
(2,702)
66
(18)
(306)
－
(516)
243

(333)
332
(4,586)
19
(2)
(2)
1,295
－
－

(2,511)－(15)
96(5,674)(34)
30(3,281)

(Millions of yen)
For the fiscal year ended
March 31, 2022
Cash flows from financing activities
Repayments of long-term borrowings
Proceeds from share issuance to non-controllingshareholders
Purchase of treasury shares
Repayments of lease liabilities
Dividends paid
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

For the fiscal year ended
March 31, 2023

(2,004)(1,494)

3,616

－

(847)
(36)
(633)
94
469
292
15,245
15,538(1,348)(48)(825)(3,717)554(810)
15,53814,728(5) Notes to Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.

(Segment information, etc.)[Segment information]
1. Overview of reportable segments
The reportable segments of the Company are individual units for which separate financial information is available
and which are subject to periodical review by the Board of Directors to determine the allocation of management
resources and to evaluate performance.
The Board of Directors and Management Meeting comprehensively assess the Group as a whole, formulate
strategies for each line of business based on reports from each subsidiary, and pursue business activities
accordingly.
The Company is thus composed of segments organized by business element and has two reportablesegments: High-purity Chemical, and Transportation.
The High-purity Chemical Business is engaged in the manufacture and sale of high-purity chemical
products; the Transportation Business is engaged in the transportation, storage, and customs clearance ofchemical agents.
2. Information on calculation methods for sales revenue, income (loss), assets, and other components by reportablesegment
The accounting method applied for the reportable segments is the same as stated in “Significant Matters in
Preparation of Consolidated Financial Statements.”
Reportable segment profit consists of figures based on operating profit.
Inter-segment sales and transfers are based on market prices.
3. Matters relating to changes in reportable segments, etc.
In the previous fiscal year, the Company sold part of its shares in Stella Pharma Corporation, which became an
equity method affiliate from a consolidated subsidiary. Accordingly, the “Medical” category has been excluded
from reportable segments from the fiscal year under review.

134. Information on sales revenue, profit or loss, assets, and other components by reportable segment
For the fiscal year ended March 31, 2022 (from April 1, 2021 to March 31, 2022)(Millions of yen)
Reportable segment
High-purity
ChemicalSales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers
Total
Segment profit (loss)
Segment assets
Other
Depreciation
Impairment losses
Investment in entities
accounted for using
equity method
Increase in property,
plant and equipment
and intangible
assetsTransportation

Medical

Other(Note)

Total

Total

32,3304,676

100

37,107

189

37,296

251

3,145

–

3,396

215

3,611

32,581
4,776
46,595

7,822
764
9,992

100
(729)

–

40,503
4,811
56,588404
20
268

40,908
4,832
56,856

2,179

504

28

2,712

0

2,713

–

–

–

–

–

–

1,996

–

1,032

3,028

–

3,028

2,087

512

46

2,647

1

2,648

(Note) The “Other” category is for non-reportable business segments, including insurance agency business andautomobile maintenance business.

For the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)(Millions of yen)
Other
(Note)

Reportable segment
High-purity Chemical
Sales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers
Total
Segment profit (loss)
Segment assets
Other
Depreciation
Impairment losses
Investment in entities
accounted for using
equity method
Increase in property,
plant and equipment
and intangible
assetsTransportation

Total

Total

30,707

4,504

35,212

170

35,382

0

3,275

3,275

228

3,504

30,7072,961
45,876

7,780
533
9,586

38,4873,494
55,462399
30
290

38,8873,525
55,753

2,106
1,926

486
–

2,592
1,926

0
–

2,593
1,926

2,921

–

2,921

–

2,921

4,868

539

5,407

0

5,408

(Note) The “Other” category is for non-reportable business segments, including insurance agency business andautomobile maintenance business.

14

5. Differences between total amounts for reportable segments and amounts in the consolidated financial statements
and main details of these differences (matters relating to difference adjustments)(Millions of yen)
For the fiscal year ended
March 31, 2022

For the fiscal year ended
March 31, 2023

40,50338,487404

399

Inter-segment elimination(3,611)(3,504)

Sales revenue in the consolidated financial statements

37,29635,382

Sales revenue
Reportable segment total
Sales revenue in “Other” category(Millions of yen)
For the fiscal year ended
March 31, 2022

Profit

For the fiscal year ended
March 31, 2023

Reportable segment total

4,811

3,494

Profit in “Other” category

20

30Inter-segment elimination

(248)

(11)

Operating profit in the consolidated financial
statements

4,583

3,514
(Millions of yen)

For the fiscal year ended
March 31, 2022

For the fiscal year ended
March 31, 2023

Reportable segment total

56,58855,462

Assets in “Other” category

268

290

Corporate assets (Note)

59

8

(317)

(290)

56,59855,471

AssetsOther adjustments
Total assets in the consolidated financial statements(Note) Corporate assets are mainly long-term investment funds (investment securities and memberships) thathave not been attributed to a reportable segment.

15

(Per share information)

Net assets per share

For the fiscal year ended
March 31, 2022
3,369.93 yen

For the fiscal year ended
March 31, 2023
3,568.67 yen

Earnings per share

422.97 yen

186.03 yen(Notes) 1. Shares of the Company owned by Custody Bank of Japan, Ltd. (137,900 shares at the end of the
fiscal year under review and average of 138,271 shares during the year) and the treasury shares are
excluded from the calculation of the total number of common shares issued at the end of the fiscal
year under review used in calculating net assets per share, and the calculation of the average numberof common shares during the period used in calculating earnings per share.
2. Diluted earnings per share are not provided because the Company had no potential dilutive shares.
3. The basis for calculation of net assets per share is as follows.

For the fiscal year ended
March 31, 2022

For the fiscal year ended
March 31, 2023

Total net assets (Millions of yen)

42,72843,162

Deduction from total net assets(Millions of yen)

557

286

[Share acquisition rights (Millions of yen)]

(49)

(48)

[Non-controlling interests (Millions of yen)]

(508)

(238)

Net assets relating to common shares(Millions of yen)

42,17042,875

Number of common shares at end of periodused in the calculation of net assets per share(Thousand shares)

12,51312,014

4. The basis for calculation of earnings per share is as follows.
For the fiscal year ended
March 31, 2022
Profit attributable to owners of parent(Millions of yen)

For the fiscal year ended
March 31, 2023

5,364

2,280

–

–

Profit attributable to owners of parent
relating to common shares(Millions of yen)

5,364

2,280

Average number of common shares during
the period (Thousand shares)

12,683

12,260

Amount not attributable to commonshareholders (Millions of yen)

(Significant subsequent events)
Not applicable.
16