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 Three Months Ended June 30, 2022
[Under Japanese GAAP]
August 5, 2022
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 to file quarterly securities report: August 10, 2022
Scheduled date to commence dividend payments: —Preparation of supplementary material on quarterly financial results: Yes
Holding of quarterly financial results briefing: No(Yen amounts are rounded down to millions, unless otherwise noted.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2022 (April 1, 2022 - June 30, 2022)(1) Consolidated Operating Results (cumulative)(% indicates changes from the previous corresponding period.)
Profit attributable toSales revenue
Operating profit
Ordinary profit
owners of parent
Three months ended Millions of yen% Millions of yen% Millions of yen% Millions of yen%
June 30, 2022
9,764
9.8
1,291
(0.0)
1,783
39.1
1,295
61.4
June 30, 2021
8,896
8.2
1,291
46.1
1,282
52.3
802
67.4
(Note) Comprehensive income: For three months ended June 30, 2022: ¥1,738 million [73.0%]
For three months ended June 30, 2021: ¥1,005 million [330.2%]
Basic earnings
Diluted earnings
per shareper share
Three months ended
Yen
Yen
June 30, 2022
103.55–June 30, 2021
62.66–
(2) Consolidated Financial Position
Total assets

Net assets

Millions of yen

56,495
As of June 30, 2022
56,598
As of March 31, 2022
(Reference) Equity: As of June 30, 2022: ¥43,446 million
As of March 31, 2022: ¥42,170 million
2. Cash DividendsFirstquarter-end
Yen

Equity-to-asset ratio

Millions of yen

Secondquarter-end
Yen

Net assets per share%

44,01142,728Yen

3,471.87
3,369.93

76.9
74.5

Annual dividends
Thirdquarter-end
Yen

Fiscal year ended
24.00
March 31, 2022
Fiscal year ending
March 31, 2023
Fiscal year ending
March 31, 2023
30.00
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None

Fiscalyear-end

Total
Yen

Yen

36.00

60.00

30.00

60.00

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 - March 31,
2023)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Sales revenue
Operating profit
Ordinary profit
to owners ofper share
parentMillions of yen% Millions of yen% Millions of yen% Millions of yen

Full year
37,500
0.5
4,600
0.4
5,800
1.6
(Note) Revision to the financial results forecast announced most recently: None

4,200

%

Yen

(21.7)

335.63* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
Newly included: – (Company name: –)Excluded: – (Company name: –)(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: Yes(3) 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
(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2022:
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 June 30, 2022:
As of March 31, 2022:

699,291 shares
699,457 shares

3) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year):Three months ended June 30, 2022:
12,513,797 shares
Three months ended June 30, 2021:
12,813,519 shares* These quarterly consolidated financial results are exempt from quarterly review 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. Qualitative Information
on Quarterly Financial Results for the Period under Review, (3) Explanation of Consolidated Financial Results
Forecast and Other Forward-Looking Information” on page 2 of the Attachments of quarterly consolidated financial
results.

Table of Contents - Attachments
1. Qualitative Information on Quarterly Financial Results for the Period under Review ........................... 2(1) Explanation of Operating Results .................................................................................................... 2(2) Explanation of Financial Position .................................................................................................... 2(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information.............................................................................................................................................................. 2
2. Quarterly Consolidated Financial Statements and Principal Notes ...................................................... 4(1) Quarterly Consolidated Balance Sheet ............................................................................................. 4(2) Quarterly Consolidated Statements of Income and Comprehensive Income ................................... 6
Quarterly Consolidated Statement of Income
Three Months Ended June 30 ....................................................................................................... 6
Quarterly Consolidated Statement of Comprehensive Income
Three Months Ended June 30 ....................................................................................................... 7(3) Notes to Quarterly Consolidated Financial Statements .................................................................... 8(Notes on going concern assumption) ......................................................................................... 8(Accounting methods adopted particularly for the preparation of quarterly consolidated
financial statements).................................................................................................................... 8(Segment information, etc.) ......................................................................................................... 9(Significant subsequent events) ................................................................................................. 111

1. Qualitative Information on Quarterly Financial Results for the Period under Review(1) Explanation of Operating Results
The Japanese economy showed signs of normalized economic activities for the three months ended June 30,
2022, with eased COVID-19 restrictions. The outlook, however, still remains uncertain due to the escalation of
the Russia-Ukraine conflict and the impact of rapid weakening of the yen.
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 three months ended June 30, 2022, both domestic and overseas sales
in the Semiconductors increased, backed by the booming global demand for semiconductors. As a result, sales
revenue increased to 9,764 millions of yen (up 9.8% year on year).
In terms of profits, operating profit amounted to 1,291 millions of yen (down 0.0% year on year) despite
the increased shipment volume in the Semiconductors, as the impact of supply and demand in the Chinese market
led to a year-on-year increase in the price of anhydrous hydrofluoric acid, a key raw material. Ordinary profit
amounted to 1,783 millions of yen (up 39.1% year on year) and profit attributable to owners of parent 1,295
millions of yen (up 61.4% year on year), as a result of recording share of profit of entities accounted for using
equity method. This was due to a significant rise in the sales price following a surge in the market price in China
for electrolytes for lithium-ion secondary batteries sold by the Quzhou BDX New Chemical Materials Co., Ltd.,an equity method affiliate, resulting in the affiliate’s robust operating results.
(2) Explanation of Financial Position(Assets)
Current assets decreased by 1,130 millions of yen (3.7%) from the end of the previous fiscal year to 29,450
millions of yen. The main reasons for this decline included decreases of 537 millions of yen in raw materials andsupplies and 381 millions of yen in merchandise and finished goods.
Non-current assets increased by 1,028 millions of yen (4.0%) from the end of the previous fiscal year to
27,045 millions of yen. The main reasons for this growth included increases of 605 millions of yen in property,
plant and equipment and 451 millions of yen in investments and other assets.
Consequently, total assets decreased by 102 millions of yen from the end of the previous fiscal year to56,495 millions of yen.
(Liabilities)
Current liabilities decreased by 1,148 millions of yen (11.7%) from the end of the previous fiscal year to 8,655
millions of yen. The main reasons for this decline included decreases of 921 millions of yen in income taxes
payable and 208 millions of yen in accounts payable - other.
Non-current liabilities decreased by 236 millions of yen (5.8%) from the end of the previous fiscal year to3,829 millions of yen. The main reason for this decline included a decrease of 296 millions of yen in long-termborrowings.
Consequently, total liabilities decreased by 1,385 millions of yen from the end of the previous fiscal year to
12,484 millions of yen.
(Net assets)
Net assets at the end of the first quarter of the fiscal year under review amounted to 44,011 millions of yen, an
increase of 1,282 millions of yen from the end of the previous fiscal year. The main reason for this growth
included an increase of 840 millions of yen in retained earnings.
Consequently, the equity-to-asset ratio was 76.9% (74.5% at the end of the previous fiscal year).

(3) Explanation of Consolidated Financial Results Forecast and Other Forward-Looking Information2

Consolidated financial results forecasts for the fiscal year ending March 31, 2023 have not been revised fromthe forecasts announced on May 10, 2022.

3

2. Quarterly Consolidated Financial Statements and Principal Notes(1) Quarterly Consolidated Balance Sheet(Millions of yen)
As of March 31, 2022
AssetsCurrent assets
Cash and deposits
Notes and 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, net
Machinery, equipment and vehicles, net
Land
Leased assets
Construction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Other
Total investments and other assets
Total non-current assets
Total assets

4

As of June 30, 2022

15,895
8,577
65
2,175
1,510
1,584
789
(17)
30,581

16,190
8,292
81
1,793
1,411
1,046
652
(18)
29,450

6,535
4,772
5,467
132
3,147
1,611
21,667

6,442
4,689
5,467
130
4,000
1,542
22,273

375
375

347
347

3,973
3,973
26,01656,5984,425
4,425
27,04556,495

(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
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
Retirement benefit liability
Provision for retirement benefits for directors (andother officers)
Provision for share awards
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

5

As of June 30, 2022

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

1,986
790
1,950
1,388
449
185

55

4

401
1,563
9,804

370
1,529
8,655

2,003
956

1,706
963

31

32

99
645
329
4,065
13,869

106
658
361
3,829
12,484

4,829
8,793
29,450(1,642)
41,4304,829
8,793
30,290(1,642)
42,271

50
46
643
739
49
508
42,72856,598

46
17
1,111
1,175
48
515
44,011
56,495

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income
Three Months Ended June 30(Millions of yen)

Sales revenue
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Gain on valuation of derivatives
Share of profit of entities accounted for using equity
methodSubsidy income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodLoss on valuation of derivatives
Share issuance costs
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Total extraordinary income
Extraordinary losses
Loss on abandonment of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes
ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

For the three months ended
June 30, 2021
8,896
6,599
2,297
1,005
1,291

For the three months ended
June 30, 2022
9,764
7,601
2,163
871
1,291

5

－

－

375

30
11
19
67

21
83
22
503

8

5

26

－

－
37
5
77
1,282

3
－
3
11
1,783

2
2

4
4

32
32
1,252
553
699
(103)
802

1
1
1,786
517
1,269
(26)
1,295

6

Quarterly Consolidated Statement of Comprehensive Income
Three Months Ended June 30(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 three months ended
June 30, 2021
699

For the three months ended
June 30, 2022
1,269

2
0
281

(3)
(28)
365

21

136

305
1,005

469
1,738

1,082

1,731

(76)

7

7

(3) Notes to Quarterly Consolidated Financial Statements(Notes on going concern assumption)
Not applicable.
(Accounting methods adopted particularly for the preparation of quarterly consolidated financial statements)(Calculation of tax expenses)
The Company has calculated tax expenses by reasonably estimating the effective tax rate after the application oftax effect accounting to profit before income taxes for the fiscal year including the first quarter of the fiscal year
under review and multiplying profit before income taxes by the estimated effective tax rate.

8

(Segment information, etc.)[Segment information]
I. For the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)
1. Information on sales revenue and profit or loss by reportable segment
Reportable segment
High-purity
ChemicalSales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers
Total
Segment profit (loss)

Transportation

Medical

Total(Millions of yen)
Other
(Note)

Total

7,708

1,141

7

8,858

38

8,896

125

723

–

848

53

901

7,833
1,401

1,864
193

7
(182)

9,706
1,412

91
2

9,798
1,414

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

2. Difference between the total amount of reportable segment profit or loss and the amount in the quarterly
consolidated statement of income and main details of this difference (matters relating to difference adjustments)(Millions of yen)
ProfitAmountReportable segment total

1,412

Profit in “Other” category

2Inter-segment elimination(123)

Operating profit in the quarterly consolidated
statement of income

1,291

3. Matters relating to changes in reportable segments, etc.
Not applicable.
4. Information on impairment losses on non-current assets or goodwill, etc. by reportable segment
Not applicable.

9II. For the three months ended June 30, 2022 (from April 1, 2022 to June 30, 2022)
1. Information on sales revenue and profit or loss by reportable segment

High-purity Chemical
Sales revenue
Sales revenue tooutside customers
Inter-segment sales
revenue or transfers
Total
Segment profit

Reportable segment
Transportation(Millions of yen)
Other
(Note)

Total

Total

8,577

1,146

9,724

40

9,764

0

750

750

58

808

8,577
1,135

1,897
154

10,474
1,290

98
3

10,573
1,293(Note) The “Other” category is for non-reportable business segments, including insurance agency business andautomobile maintenance business.

2. Difference between the total amount of reportable segment profit or loss and the amount in the quarterly
consolidated statement of income and main details of this difference (matters relating to difference adjustments)(Millions of yen)
ProfitAmountReportable segment total

1,290

Profit in “Other” category

3Inter-segment elimination(2)

Operating profit in the quarterly consolidated
statement of income

1,291

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 for the first quarter of the fiscal year under review.
4. Information on impairment losses on non-current assets or goodwill, etc. by reportable segment
Not applicable.

10(Significant subsequent events)(Sale of investment securities)
The Company, at the Board of Directors meeting held on July 20, 2022, resolved to sell its investment securities(one unlisted security). The sale was carried out on July 29, 2022.
Due to the sale, the Company expects to record gain on sale of investment securities of 1,237 millions of
yen as extraordinary income for the six months ending September 30, 2022.

11