For Immediate Release

October 28, 2021

Taoka Chemical Reports Consolidated Financial Results
For the Half-Year Ended September 30, 2021
The Taoka Chemical Group’s consolidated sales revenue for the half-year ended
September 30, 2021 increased by ¥953 million compared with the same period of theprevious fiscal year, to ¥16,855 million. The Group posted operating income of ¥1,829
million, ordinary income of ¥1,867 million and net income attributable to owners of theparent of ¥1,336 million.
The financial results of Taoka Chemical by business segment for the half-year period
were as follows:
Chemicals Segment
Sales revenue of this segment was ¥16,566 million, a ¥922 million increase compared tothe same period of the previous fiscal year.
Fine chemicals group
Though shipments of electronic materials increased, sales of monomers for optical resins
and agrochemical intermediates decreased. As a result, the group sales revenue decreasedby ¥598 million, to ¥9,996 million.
Functional chemicals group
Demand of adhesives and rubber additives recovered. As a result, the group sales revenue
increased by ¥640 million to ¥1,964 million.
Specialty polymers & varnish group
Demand of paper chemicals recovered and demand of varnish steadily increased. As aresult, the group sales revenue increased by ¥505 million, to ¥2,312 million.
Plasticizers group
Owing to a recovery in demand, shipments of plasticizers increased. As a result, the groupsales revenue increased by ¥375 million, to ¥2,292 million.
Others (Analytical Services)
While sales of industrial waste analysis decreased, sales of composition and structuralanalysis and asbestos analysis increased. As a result, the segment sales revenue increasedby ¥31 million, to ¥289 million.

Reasons of the difference between the consolidated forecast for the half-year ended
September 30, 2021 announced on May 12, 2021 and actual results announced today(April 1, 2021- September 30, 2021)(Millions of yen, unless otherwise indicated)
Sales
Operating Ordinary Net income Net income
revenueincomeincomeattributable
per share
to owners of (yen)the parent
Previous forecast
16,000
1,400
1,400
1,000
69.78
(A)
Revised forecast
16,855
1,829
1,867
1,336
93.25
(B)
Variance in amount855
429
467336(B)-(A)Variance in
5.3
30.7
33.4
33.6
percentage (%)
FY2020 results for
15,901
1,829
1,861
1,268
88.50
the same period(Reasons for the Difference)
Sales revenue for the half-year ended September 30, 2021 outperformed the previously
announced forecast, boosted by an increase in sales revenue of rubber additives, varnish,plasticizers and electric materials.
Operating income, ordinary income and net income attributable to owners of the parent
exceeded those in the previous forecast due to our cost reduction efforts based on efficient
production enabled by continuous operation during the second quarter and less loss on
disposal of fixed assets.
The Group revised its consolidated financial forecast for FY2021.
Revised Consolidated Financial Forecast for the Year Ending March 31, 2022
(April 1, 2021 – March 31, 2022)(Millions of yen, unless otherwise indicated)
Sales
Operating Ordinary Net income Net income
revenueincomeincomeattributable
per share
to owners of (yen)the parent
Previous forecast
34,000
3,700
3,700
2,600
181.44(A)
Revised forecast
33,000
3,000
3,000
2,100
146.55(B)
Variance in amount(1,000)
(700)
(700)
(500)
(B)-(A)
Variance in(2.9)(18.9)(18.9)(19.2)
percentage (%)
FY2020 results for
32,057
4,015
4,062
2,615
182.52the same period(Reasons for the Revision)
The Group forecasts an increase in sales revenue of rubber additives, varnish, plasticizers
and electric materials but forecasts a decrease in sales revenue of monomers for opticalresins due to the inventory adjustment of customers. As a result, the forecast of sales
revenue of the Group is expected to fall below those in the previous forecast.

Operating income, ordinary income and net income attributable to owners of the parent
are also expected to be less than those in the previous forecast due to a decrease in sales
revenue and an increase in raw material prices.
Dividend

FY Ended Mar. 31,2021 (Result)
FY Ending Mar. 31,2022 (Result)
FY Ending Mar. 31,2022 (Forecast)

Annual dividend per share
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Jun. 2021 Sep. 2021 Dec. 2021 Mar. 2022
-

70.00

-

90.00

(Yen)
Total-

90.00

160.00-18.00-The Company resolved to conduct a share split at the meeting of the board of directorsheld on June 24, 2021. Effective on October 1, 2021, the Company split one ordinary
share into five shares. Forecasts of dividend per share and net income per share, without
factoring in the effects of the share split, are as follows.

2nd Quarter Sep. 2021
4th Quarter Mar. 2022

Dividend per share
90.00
90.00

(Yen)
Net income per share
466.25732.74

Summary of Consolidated Results(1) Results of Operation

Sales Revenue
Operating Income
Income before Taxes
Net Income
Net Income Attributable toOwners of the Parent
Comprehensive Income
Net Income per Share

6 Month endedSeptember 30, 2021
Yen(Millions)
16,855
1,829
1,863
1,336

USD(Thousands)
150,600
16,34916,648
11,938

1,336
1,329

11,938
11,878
USD
0.83

Yen

93.25

6 Month ended
September 30,2020
Yen(Millions)
15,901
1,829
1,781
1,268

Yen

1,268
1,278
88.50

(Note)
Effective on October 1, 2021, the Company split one ordinary share into five shares.
However, net income per share has been calculated on the assumption that the share
split took place on April 1, 2020.
(2) Financial Position

Total Assets
Total Equity

As of Mar. 31,
As of September 30, 2021
2021
Yen
USD
Yen(Millions)(Thousands)(Millions)
28,279252,673
27,95816,309145,724
15,237(3) Results of Operation by Business Segment
Sales Revenue

Fine Chemicals
Functional Materials
Specialty Polymers & Varnish
Plasticizers
Chemicals Segment
OthersTotal

6 Month ended
September 30, 2021

Yen(Millions)
9,996
1,964
2,312
2,292
16,566289
16,855

USD(Thousands)
89,317
17,555
20,662
20,482148,0172,582
150,600

6 Month ended
September 30,2020
Yen(Millions)
10,595
1,324
1,807
1,917
15,644257
15,901(Note)
U.S. dollar amounts are translated from yen for convenience only at the rate of¥111.92= $1 prevailing on September 30, 2021.