Consolidated Financial Results
for the Fiscal Year Ended March 31, 2021
[Japanese GAAP]
April 27, 2021
Company name: SHIKOKU CHEMICALS CORPORATION
Stock exchange listing: Tokyo Stock Exchange
Code number: 4099
URL: https://www.shikoku.co.jp/
Representative: Naoto Tanaka, President and C.E.O.
Contact: Kazuhiko Katayama, Executive Officer, General Manager of Finance & Accounting Department
Phone: +81-877-22-4111
Scheduled date of annual general shareholders’ meeting: June 24, 2021
Scheduled date of commencing dividend payments: June 4, 2021
Scheduled date of filing annual securities report: June 24, 2021
Availability of supplementary briefing material on annual financial results: Available
Schedule of annual financial results briefing session: Scheduled(Amounts less than one million yen are rounded down)
1. Consolidated Financial Results for the Year Ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Year ended
Million yen%
Million yen%
Million yen%
Million yen%
March 31, 2021
49,590
(3.8)
7,401
(5.7)
7,997
(0.3)
5,760
2.7
March 31, 2020
51,564
(2.4)
7,848
(2.5)
8,022
(4.9)
5,610
3.9
(Note) Comprehensive income: Year ended March 31, 2021: ¥7,732 million [75.2 %]Year ended March 31, 2020: ¥4,412 million [21.0 %]Basic earnings
per share

Dilutedearnings
per share

Return on
equityRatio ofordinary profit
to total assets

Ratio ofoperating profit
to net sales

Year ended
Yen
Yen
%
%
%
March 31, 2021
103.277.9
7.7
14.9
March 31, 2020
96.92
8.0
8.3
15.2
(Reference) Share of profit (loss) of entities accounted for using equity method: Year ended March 31, 2021: Year ended March 31, 2020: (2) Consolidated Financial Position
Total assets

Net assets

Million yen

Equity ratio

Net assets per share

Million yen%

Yen

107,344
As of March 31, 2021
76,566
100,896
As of March 31, 2020
71,647(Reference) Equity: As of March 31, 2021: ¥75,718 million
As of March 31, 2020: ¥70,839 million

70.5
70.2

1,360.26
1,241.76(3) Consolidated Cash Flows

Year ended
March 31, 2021
March 31, 2020

Cash and cash
equivalents
at year-end

Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Million yen

Million yen

Million yen

Million yen

7,411
7,385

(2,999)(6,018)89
3,875

37,20732,607

2. Dividends
1stquarterend
Year ended
March 31, 2020
Year ended
March 31, 2021
Year ending
March 31, 2022
(Forecast)

Annual dividends
2nd
3rd
Yearquarter- quarterend
end
end

Total

Total
dividends(annual)Payout ratio(consolidated)

Ratio ofdividends to
net assets(consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

–

12.00

–

12.00

24.00

1,389

24.8

2.0

–

12.00

–

12.00

24.00

1,338

23.2

1.8

–

12.00

–

12.00

24.00

22.3

3. Forecast of Consolidated Financial Results for the Year Ending March 31, 2022 (from April 1, 2021 to March
31, 2022)(% indicates changes from the previous corresponding period.)
Profit attributable
Basic earnings
Net sales
Operating profit
Ordinary profit
to owners ofper share
parentFull year

Million yen

51,500% Million yen% Million yen% Million yen

%

Yen

3.9

8.1

3.8

4.2

107.79

8,000

8,300

6,000

* Notes:(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: No
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (ordinary shares)
1) Total number of issued shares at the end of the period (including treasury shares):
March 31, 2021: 55,877,263 shares
March 31, 2020: 58,948,063 shares2) Total number of treasury shares at the end of the period:
March 31, 2021: 212,603 shares
March 31, 2020: 1,900,015 shares
3) Average number of shares during the period:
Year ended March 31, 2021: 55,782,227 sharesYear ended March 31, 2020: 57,892,498shares* Explanation regarding the appropriate use of financial results forecasts and other special items
The above financial results forecasts are based on information currently available to the Company as of the dateof this report, and do not constitute a guarantee of future results. Actual results may differ significantly from these
forecasts due to a wide range of factors. For information about the above financial results forecasts, please refer to“(4) Future Outlook” under “1. Overview of Operating Results, etc.” on page 4 of the attached documents to thefinancial statements.

Table of Contents
1. Overview of Operating Results, etc. ............................................................................................................. 2(1) Overview of Operating Results for the Year under Review ..................................................................... 2(2) Overview of Financial Position for the Year under Review ..................................................................... 4(3) Overview of Cash Flows for the Year under Review ............................................................................... 4(4) Future Outlook ......................................................................................................................................... 4
2. Basic Policy on Selection of Accounting Standards ..................................................................................... 4
3. Consolidated Financial Statements and Principal Notes .............................................................................. 5(1) Consolidated Balance Sheets ................................................................................................................... 5(2) Consolidated Statements of Income and Comprehensive Income ........................................................... 7(3) Consolidated Statements of Changes in Shareholders’ Equity ................................................................. 9(4) Consolidated Statements of Cash Flows ................................................................................................ 11(5) Notes to Consolidated Financial Statements .......................................................................................... 12(Notes on going concern assumption) .................................................................................................... 12(Segment information, etc.) .................................................................................................................... 12(Per share information) ........................................................................................................................... 13(Significant subsequent events) .............................................................................................................. 14

1

1. Overview of Operating Results, etc.
(1) Overview of Operating Results for the Year under Review
The Japanese economy during the fiscal year under review deteriorated sharply against the backdrop of the
spread of the novel coronavirus disease (COVID-19) and the issuing of the state of emergency declaration in
April 2020. Although signs of recovery were seen mainly in individual consumption after the lifting of thedeclaration, the economy slowed down following the reissuing of the state of emergency declaration in January
2021. Even after the declaration was lifted, the number of infected people has rebounded, and the pace ofeconomic activity resumption has remained slow. As for overseas economies, it is expected that economic activity
will gradually resume and recovery will be accelerated by various economic measures, particularly in the UnitedStates and China, but various risks remain, including delayed vaccine rollout, spread of mutant strains, andinflation concerns due to the expansion of fiscal stimulus.
Under these circumstances, for the fiscal year under review, the Group posted net sales of ¥49,590 million(down 3.8% year-on-year), operating profit of ¥7,401 million (down 5.7% year-on-year) and ordinary profit of¥7,997 million (down 0.3% year-on-year), all of which fell below the previous year’s results, while profit
attributable to owners of parent increased from the previous year to ¥5,760 million (up 2.7% year-on-year).
Operating results by segment are as follows.
1) Chemicals operations(Inorganic chemicals)
Sales of insoluble sulfur, a material for radial tires, remained sluggish both in Japan and abroad during thefirst half of the year, affected by the global production adjustments for automobiles and tires amid the spread of
COVID-19. However, sales recovered sharply in the second half of the year as production activities normalized.
Sales of carbon disulfide for rayon and cellophane, and sodium sulfate for bath agents and detergents remainedsluggish.
(Organic chemicals)
Regarding cyanuric acid derivatives for disinfectants, while sales of agents for swimming pools were stagnant
in the domestic market, affected by the cancellation of swimming lessons at schools due to the spread of COVID19, sales of agents for plumbing systems (sanitary devices) were strong with increased demand for disinfection
and sterilization as a result of rising awareness of hygiene at homes. Sales remained strong in the U.S. market
with increased demand for agents for home swimming pools, supported by favorable weather conditions fromspring and restrictions on outings.
(Fine chemicals)
Regarding Glicoat-SMD, a heat-resistant soluble OSP (Organic Solderability Preservative) for printed wiringboards, sales largely exceeded the previous year’s result during the second half of the year on the back of recovery
in the electronics market mainly in China and Taiwan. Sales of advanced & specialty chemicals such as epoxy
resin curing agent (imidazoles) grew in newly developed products although sales were affected by the deteriorationin market conditions in products for automobile-related use.
As a result, net sales for the chemicals operations segment were ¥29,850 million (down 1.0% year-on-year),and segment profit was ¥5,664 million (up 0.1% year-on-year).
2) Housing Materials operations
With the spread of COVID-19, there has been a strong sense of uncertainty over the prospects of domestic
and foreign economies, causing a wait-and-see attitude to continue as seen in a growing trend of investments
being deferred. Given the weakness in housing starts and capital investment, sales of interior, exterior finishes
and paving materials and exterior products remained sluggish.
As a result, net sales for the housing materials operations segment were ¥18,760 million (down 9.0% yearon-year), and segment profit was ¥3,505 million (down 11.6% year-on-year), both falling below the previous
year’s results.
2

Reference information[Sales results](Million yen)

Year ended
March 31, 2020
(from April 1, 2019
to March 31, 2020)

Segment nameYear ended
March 31, 2021
(from April 1, 2020
to March 31, 2021)

YoY change (%)

Chemicals operations
Inorganic chemicals

11,913

10,435

87.6

Organic chemicals

10,146

10,709105.5

Fine chemicals

8,090

8,705

107.6

Subtotal

30,15029,85099.0

Interior, exterior finishes andpaving materials

1,665

1,475

88.6

Exterior products

18,954

17,28591.2

Subtotal

20,61918,76091.0

50,77048,611

95.7

794

979

123.2

51,564

49,59096.2

Housing Materials operations

Total of reportable segments
Other
Total
(Note) Figures above are exclusive of consumption taxes.

[Overseas net sales]Year ended March 31, 2020
(from April 1, 2019 to March 31, 2020)

Year ended March 31, 2021
(from April 1, 2020 to March 31, 2021)

Net sales(Million yen)

Net sales(Million yen)Overseas net sales toconsolidated net sales (%)

Overseas net sales toconsolidated net sales (%)

Asia

7,320

14.2

7,319

14.8

North America

5,564

10.8

5,943

12.0

Other regions

1,931

3.7

1,741

3.5

Total

14,81528.7

15,00430.3

Consolidated net
sales

51,564

49,5903

(2) Overview of Financial Position for the Year under Review(Status of assets, liabilities and net assets)
Total assets increased by ¥6,448 million from the end of the previous fiscal year to ¥107,344 million. Major
increases were ¥3,098 million in investment securities and ¥3,035 million in construction in progress.
Liabilities increased by ¥1,529 million from the end of the previous fiscal year to ¥30,778 million. A major
increase was ¥3,800 million in long-term borrowings.
Net assets increased by ¥4,918 million from the end of the previous fiscal year to ¥76,566 million. Major
increases were ¥1,947 million in treasury shares and ¥1,816 million in valuation difference on available-for-salesecurities.
As a result, equity ratio rose to 70.5%, from 70.2% at the end of the previous fiscal year.
(3) Overview of Cash Flows for the Year under Review
Cash flows provided by operating activities totaled ¥7,411 million (an increase of ¥25 million year-on-year).
Major cash inflows were profit before income taxes of ¥8,258 million and depreciation of ¥1,835 million, while
a major cash outflow was income taxes paid of ¥2,388 million.
Cash flows used in investing activities totaled ¥2,999 million (a decrease of ¥3,019 million year-on-year).
The major component was purchase of property, plant and equipment of ¥3,618 million.
Cash flows provided by financing activities totaled ¥89 million (a decrease of ¥3,786 million year-on-year).
A major cash inflow was proceeds from long-term borrowings of ¥3,900 million, while major cash outflows werepurchase of treasury shares of ¥1,605 million and dividends paid of ¥1,354 million.
As a result, cash and cash equivalents totaled ¥37,207 million (an increase of ¥4,599 million from the end of
the previous fiscal year).
(4) Future Outlook
Consolidated financial results forecast for the year ending March 31, 2022 is as follows.
Net sales

Operating profit

Ordinary profit(Million yen)
Profit attributableto owners of parent

Year ending March 31, 2022
51,500
8,000
8,300
6,000
(full-year)
Year ended March 31, 2021
49,590
7,401
7,997
5,760
(full-year)
Change (%)
3.9
8.1
3.8
4.2
(Note) The major exchange rates assumed in the above financial results forecast were ¥105 to $1 and ¥128 to €1.
The above financial results forecasts are based on information currently available to the Company as of the date ofthis report, and do not constitute a guarantee of future results. Actual results may differ significantly from these
forecasts due to a wide range of factors.

2. Basic Policy on Selection of Accounting Standards
The Group plans to adopt Japanese GAAP in preparing its consolidated financial statements for the time being,
given that the Group has little need to raise funds from overseas and considering the burden of preparing its
consolidated financial statements based on the International Financial Reporting Standards (IFRS). However, theGroup will consider the adoption of IFRS depending on future needs.

43. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable – trade
Electronically recorded monetary claims - operating
Securities
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
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Retirement benefit asset
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

5

As of March 31, 2021

26,607
13,0572,095
11,000
6,912
47
3,100
283
(0)
63,10325,907
12,637
2,678
13,999
6,259
46
3,024
471
(1)
65,024

5,148
3,929
8,849
736
651
19,315
143

5,040
3,176
8,857
3,771
646
21,492
165

16,607
1,159
201
368
(3)
18,33337,792
100,896

19,705
324
309
325
(3)
20,662
42,319107,344(Million yen)
As of March 31, 2020
Liabilities
Current liabilities
Notes and accounts payable – trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accrued expenses
Income taxes payable
Accrued consumption taxes
Notes payable - facilities
Electronically recorded obligations - facilities
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Provision for retirement benefits for directors (andother officers)
Retirement benefit liability
Asset retirement obligations
Provision for share awards
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
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

6

As of March 31, 2021

6,530
415
2,730
693
1,396
1,356
313
58
53
4,201
17,747

6,602
338
2,530
74
1,418
1,389
201
17
75
3,055
15,702

7,157
1
1,111

10,957
16
1,111

88

77

2,201
379
23
537
11,50029,248

2,134
379
32
365
15,07530,7786,867
5,815
56,063(2,183)66,5636,867
5,740
57,140(236)
69,512

1,972
(4)
2,533
(109)
(115)
4,276
808
71,647
100,896

3,789
(27)
2,533
(90)
0
6,205
847
76,566
107,344(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Transportation and storage costs
Advertising expenses
Salaries
Retirement benefit expenses
Provision for retirement benefits for directors (and otherofficers)
Research and development expenses
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Miscellaneous income
Total non-operating income
Non-operating expenses
Interest expenses
Loss on sale of notes receivable - trade
Sales discounts
Foreign exchange losses
Loss on abandonment of inventories
Miscellaneous losses
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Subsidy income
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Impairment losses
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes- current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

7

For the year ended
March 31, 2020
51,56430,47921,085For the year ended
March 31, 2021
49,59029,50620,083

4,532
674
2,211
170

4,525
410
2,222
193

20

17

1,338
4,289
13,236
7,848

1,207
4,105
12,682
7,401

23
476
－
35
535

47
452
169
98
767

14
0
137
174
25
9
362
8,022

20
－
125
－
－
24
171
7,997

1
5
44
50

0
478
35
513

19
－
－
19
8,053
2,401
7
2,408
5,644
33
5,610

39
66
147
252
8,258
2,452
7
2,459
5,798
38
5,760

Consolidated Statements of Comprehensive Income(Million yen)
For the year ended
March 31, 2020
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

8

5,644

For the year ended
March 31, 2021
5,798

(1,237)(0)(16)
22(1,231)
4,412

1,821
(23)
18
116
1,933
7,732

4,389

7,689

22

42

(3) Consolidated Statements of Changes in Shareholders’ Equity
Year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)(Million yen)
Shareholders’ equity
Share capital

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Acquisition of treasury shares bystock ownership plan trust
Disposal of treasury shares bystock ownership plan trust
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

Retainedearnings

Capital surplus

6,867

5,740

51,798

(322)

75
5,815

64,084(1,345)(1,345)

5,610

5,610
(1,786)(1,786)

(166)

(166)

91

166

(1,861)(2,183)

2,478
66,563

75

－
6,867

Total
shareholders’equityTreasuryshares

4,265
56,063

Accumulated other comprehensive income

Balance at beginning of
periodChanges during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
sharesAcquisition of treasury
shares by stock
ownership plan trust
Disposal of treasury
shares by stock
ownership plan trust
Net changes in items
other than shareholders'equityTotal changes during period
Balance at end of period

Valuationdifferenceonavailablefor-salesecurities

Deferred
gains orlosses onhedges

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit
plans

Total
accumulated
othercomprehensive income

Noncontrollinginterests

Total net
assets

3,199

(4)

2,533

(93)

(137)

5,498

788

70,370(1,345)5,610(1,786)(166)
166(1,226)

(0)

－

(16)

22

(1,221)19(1,201)(1,226)
1,972

(0)
(4)

－
2,533

(16)
(109)

22
(115)

(1,221)
4,276

19
808

1,277
71,647

9

Year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(Million yen)
Shareholders’ equity
Share capital

Balance at beginning of period
Changes during period
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Disposal of treasury shares bystock ownership plan trust
Net changes in items other thanshareholders' equity
Total changes during period
Balance at end of period

Retainedearnings

Capital surplus

6,867

5,815

56,0639(84)(2,183)66,563(1,354)(1,354)

5,760

5,760

(3,329)

(75)
5,740

－
6,867

Total
shareholders’equityTreasury shares(1,605)137
3,413(1,605)
146
－

2

2

1,947
(236)

2,949
69,512

1,076
57,140

Accumulated other comprehensive income
Valuation
Deferreddifference on
gains oravailablelosses on
for-salehedgessecurities

Balance at beginning of
periodChanges during period
Dividends of surplus
Profit attributable toowners of parent
Purchase of treasury
shares
Disposal of treasury
sharesCancellation of treasury
shares
Disposal of treasury
shares by stock
ownership plan trust
Net changes in items
other than shareholders'equityTotal changes during period
Balance at end of period

1,972

(4)

Revaluation
reserve forland

Foreigncurrencytranslation
adjustment

Remeasurementsof defined
benefit
plans

Total
accumulated
othercomprehensive income

Noncontrollinginterests

Total net
assets

2,533

(109)

(115)

4,276

808

71,647(1,354)5,760(1,605)
146
－
2

1,816

(23)

－

18

116

1,928

39

1,968

1,816
3,789

(23)
(27)

－
2,533

18
(90)

116
0

1,928
6,205

39
847

4,918
76,56610

(4) Consolidated Statements of Cash Flows(Million yen)
For the year ended
March 31, 2020
Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Increase (decrease) in retirement benefit liability
Decrease (increase) in retirement benefit asset
Interest and dividend income
Interest expenses
Loss (gain) on sale of investment securities
Subsidy income
Loss on retirement of property, plant and equipment
Loss (gain) on sale of property, plant and equipment
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividends received
Interest paid
Subsidies received
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of securities
Proceeds from redemption of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Payments for retirement of property, plant and equipment
Purchase of investment securities
Proceeds from sale and redemption of investment
securities
Decrease (increase) in time deposits
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of treasury shares
Proceeds from sale of treasury shares
Dividends paid
Dividends paid to non-controlling interests
Other, net
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

11

For the year ended
March 31, 2021

8,053
2,189
－
13
29
(500)
14
(5)
(44)
19
(1)
1,459
(631)
(1,902)
189
(9)
8,874
500
(16)
44
(2,017)
7,385

8,258
1,835
66
(36)
29
(499)
20
(331)
(35)
39
(0)
(131)
747
(22)
(126)
(527)
9,286
500
(21)
35
(2,388)
7,411(4,000)1,000(1,479)2(13)(2,506)(3,200)4,500(3,618)0(32)(3,255)

6

1,613

1,000
(27)
(6,018)1,000(6)(2,999)

800
7,200
(945)
(1,786)－(1,345)
(3)
(44)
3,875
(76)
5,166
27,441
32,607

(200)
3,900
(718)
(1,605)146(1,354)
(3)
(75)
89
98
4,599
32,607
37,207

(5) Notes to Consolidated Financial Statements(Notes on going concern assumption)
There is no relevant information.
(Segment information, etc.)
1. Overview of reportable segments
The Group’s reportable segments are components within the Group for which discrete financial information isavailable and are regularly reviewed by the Company’s Board of Directors for the purpose of determining theallocation of management resources and evaluating performance.
Each business division of the Company formulates comprehensive strategies for domestic and overseas
businesses in relation to the products and services it handles and carries out business activities accordingly.
Therefore, the Group is comprised of segments that are classified according to products and services based on its
business divisions. The two reportable segments of the Group are “Chemicals operations” and “Housing Materials
operations.”
The “Chemicals operations” segment is engaged in the production and sale of chemical products such as
inorganic chemicals, organic chemicals and fine chemicals. The “Housing Materials operations” segment is engaged
in the production and sale of building and construction materials such as interior and exterior decorative walls,
exterior products and aluminum shutters.
2. Calculation methods of net sales, profit, loss, assets and other items by reportable segment
The method of accounting for the business segments reported are the same as those described in “Important
Matters that Form the Basis for Preparing Consolidated Financial Statements.”
Profit of the reportable segments is based on operating profit.
Inter-segment net sales and transfers are based on market price.
3. Information on net sales, profit (loss), assets and other items by reportable segment
For the year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)(Million yen)
Reportable segment
Housing
Chemicals
Materials
Total
operations
operations

Other(Note) 1

Total

Amount recorded inconsolidated
Adjustment(Note) 2 financial statements(Note) 3

Net sales
Net sales to outside
30,15020,619 50,770
794
51,564－51,564
customers
Inter-segment net sales
0
5
5
237
243
(243)
－
or transfers
Total
30,151
20,624 50,775
1,032
51,808(243)
51,564
Segment profit
5,656
3,966
9,622
91
9,714
(1,865)
7,848
Segment assets
41,353
16,445 57,798
1,800
59,59941,296
100,896
Other items
Depreciation
1,738
260
1,999
53
2,052
135
2,188
Impairment losses
－
－
－
－
－
－
－
Increase in property, plantand equipment and
1,640
243
1,884
2
1,886
74
1,961
intangible assets(Notes) 1. The “Other” category represents business segments not included in the reportable segments, and includes
the IT systems operations and food operations.
2. The adjustment for segment profit of ¥(1,865) million includes inter-segment eliminations of ¥0 million

12and corporate expenses in the amount of ¥(1,866) million not allocated to each reportable segment. The
relevant corporate expenses are mainly general and administrative expenses not allocated to thereportable segments.
The adjustment for segment assets of ¥41,296 million includes inter-segment eliminations of ¥(6) million
and corporate assets in the amount of ¥41,303 million not allocated to each reportable segment.
The adjustment for increase in property, plant and equipment and intangible assets of ¥74 million is theamount of capital expenditure related to corporate assets not allocated to each reportable segment.
3. Segment profit is adjusted with operating profit on the consolidated statements of income.

For the year ended March 31, 2021 (from April 1, 2020 to March 31, 2021)(Million yen)
Reportable segment
Housing
Chemicals
Materials
Total
operations
operations

Other(Note) 1

Total

Amount recorded inconsolidated
Adjustment(Note) 2 financial statements(Note) 3

Net sales
Net sales to outside
29,85018,760 48,611
979
49,590－49,590
customers
Inter-segment net sales
0
2
3
266
270
(270)
－
or transfers
Total
29,851
18,763 48,615
1,246
49,861(270)
49,590
Segment profit
5,664
3,505
9,170
130
9,301
(1,899)7,401
Segment assets
45,681
15,620 61,302
2,156
63,45843,885
107,344
Other items
Depreciation
1,425
225
1,651
53
1,705
129
1,835
Impairment losses
－
66
66
－
66
－
66
Increase in property, plantand equipment and
3,446
328
3,775
110
3,886
220
4,106
intangible assets(Notes) 1. The “Other” category represents business segments not included in the reportable segments, and includes
the IT systems operations and food operations.
2. The adjustment for segment profit of ¥(1,899) million includes inter-segment eliminations of ¥0 million
and corporate expenses in the amount of ¥(1,900) million not allocated to each reportable segment. The
relevant corporate expenses are mainly general and administrative expenses not allocated to thereportable segments.
The adjustment for segment assets of ¥43,885 million includes inter-segment eliminations of ¥(4) million
and corporate assets in the amount of ¥43,890 million not allocated to each reportable segment.
The adjustment for increase in property, plant and equipment and intangible assets of ¥220 million is theamount of capital expenditure related to corporate assets not allocated to each reportable segment.
3. Segment profit is adjusted with operating profit on the consolidated statements of income.

(Per share information)
Year ended March 31, 2020
Year ended March 31, 2021
(from April 1, 2020
(from April 1, 2019
to March 31, 2021)
to March 31, 2020)
Net assets per share
1,241.76 yen
1,360.26 yen
Basic earnings per share
96.92 yen103.27 yen(Notes) 1. The Company’s shares held in the trust related to the stock compensation plan, which are recorded astreasury shares under shareholders’ equity, are included in treasury shares that are excluded from thecalculation of the average number of shares during the period when calculating basic earnings per share,
and are also included in treasury shares that are excluded from the total number of issued shares at theend of the period when calculating net assets per share.
The average number of shares during the period excluded for the fiscal year under review was 148

13thousand shares, while the average number of shares during the period excluded for the previous fiscal
year was 150 thousand shares. Diluted earnings per share are not provided, as there are no dilutive shares.
2. The basis for calculation of basic earnings per share is as follows:Year ended March 31, 2020
Year ended March 31, 2021
(from April 1, 2020
(from April 1, 2019
to March 31, 2021)
to March 31, 2020)
Profit attributable to owners of parent
5,610
5,760
(Million yen)Amount not attributable to common––shareholders (Million yen)
Profit attributable to owners of parent related
5,610
5,760
to ordinary shares (Million yen)
Average number of ordinary shares during
57,89255,782the period (Thousand shares)
3. The basis for calculation of net assets per share is as follows:
As of March 31, 2021

As of March 31, 2020
Total net assets (Million yen)Amount deducted from total net assets(Million yen)(Non-controlling interests included inabove) (Million yen)Amount of net assets related to ordinary
shares at end of period(Million yen)
Number of ordinary shares used in thecalculation of net assets per share at end of
period (Thousand shares)(Significant subsequent events)
There is no relevant information.

14

71,64776,566

808

847

[808]

[847]

70,83975,71857,04855,664