Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

October 31, 2023
Company name:Taoka Chemical Co., Ltd.

Name of Representative:

Yasuaki Sasaki, President(Securities code: 4113; TSE Standard Market)

Inquiries:

Yasuhito Katsumoto, General Manager, Business Services Office(Telephone: +81-6-7639-7400)

Differences between Financial Forecasts and Actual Resultsfor Six Months Ended September 30, 2023, and Revisions to Full-Year Financial Forecasts
Taoka Chemical Co., Ltd. (the “Company”) hereby announces the differences arising between its
consolidated financial forecasts for the six months ended September 30, 2023 announced on May
12, 2023, and its actual results for the same period announced today. In addition, at the meeting of
the Board of Directors held on October 31, 2023, the Company has made revisions to its full-year
consolidated financial forecasts for the fiscal year ending March 31, 2024, as detailed below.
1. Differences between consolidated financial forecasts and actual results for the six months ended
September 30, 2023 (April 1, 2023 through September 30, 2023)(Millions of yen, unless otherwise specified)
Sales
Operating
Ordinary
Net income
Net income
revenueincomeincomeattributable to per shareowners of the (yen)parentPrevious forecasts (A)15,000
150
150
100
6.98
Actual results
14,811
573
620
459
32.09
(B)
Difference (B)-(A)
(189)
423
470
359
Difference (%)
(1.3)
282.0
313.3
359.0
(Reference) Actual
results for the six
15,264
249
279
191
13.35
months ended
September 30, 2022

2. Revisions to full-year consolidated financial forecasts for the current fiscal year
(April 1, 2023 through March 31, 2024)(Millions of yen, unless otherwise specified)
Sales
Operating
Ordinary
Net income
Net income
revenueincomeincomeattributable to per shareowners of the (yen)parentPrevious forecasts (A)32,000
700
700
400
27.92
Revised forecasts (B)28,000700700400
27.92
Change (B)-(A)(4,000)000
Change (%)(12.5)
0.0
0.0
0.0(Reference) Actual
results for the previous
30,166
451
457
310
21.68
fiscal year ended March31, 2023

(Reasons for the differences and the revisions)
Sales revenue for the six months ended September 30, 2023 decreased as the shipments of vanish andrubber additives fell short of the previous forecasts. Though sales decreased, the Company madeefforts to purchase raw materials at lower prices, to reduce expenses, and to improve the production
efficiency. As a result, operating income, ordinary income and net income attributable to owners of
the parent exceeded those in the previous forecasts.
Sales revenue for the fiscal year ending March 31, 2024 is expected to decrease from the previousfiscal year, because sales trends are expected to remain unchanged as customers continues adjusting
inventory. The Company has left the forecasts for operating income, ordinary income and net income
attributable to owners of the parent unchanged from those in the previous forecasts.
Cautionary Statement
These statements are based on the information available as of the date of announcement of thisdocument. Actual results may differ materially from the forecasts for a number of reasons.