MORESCO Corporation
MORESCO Group delivers sustainable one-of-a-kind products

The 66th Ordinary General Meeting of Shareholders(From March 1, 2023 to February 29, 2024)

Tokyo Stock Exchange Standard Market 5018 (Petroleum and Coal Products)
May 30, 2024

Copyright © MORESCO Corporation All Rights Reserved.

⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

Copyright © MORESCO Corporation All Rights Reserved.

2⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

Copyright © MORESCO Corporation All Rights Reserved.

3

Business Environment - Volume of automobile production
Volume of automobile production in areas where our business sites are located
10,000 units(% compared toprevious year)

5,862
5,384
Southeast/
South Asia

4,728

5,381

5,000

907
1,071
1,010
706

China

China
（2,700）Japan

FY2020(+3.0%)

881

UnitedStates

FY2019(+8.9%)FY2021(+6.0%)

959
NEV

3,013
1,994

2,054

( +11.6%)

790

872

( +10.3%)

FY2022

FY2023

Source: Prepared by MORESCO based on data released by MarkLines Co., Ltd.
Note 1: Data is aggregated based on MORESCO’s fiscal year (Japan: March to February, overseas: January to December).
Note 2: Data for Southeast/South Asia includes only Thailand, Indonesia, and India, where we have operating sites.
Copyright © MORESCO Corporation All Rights Reserved.

4

Business Environment - Trends in crude oil, foreign exchange, and naphtha prices*

Exchange rate (¥/$)

180

148.9

160
140
120
100
20-4Q

21-1Q

21-2Q

21-3Q

21-4Q

22-1Q

22-2Q

22-3Q

22-4Q

23-1Q

23-2Q

23-3Q

23-4Q

Dubai crude oil price ($/b)
Domestic naphtha price (1,000 yen/kl)

120
100

83.4

80

72.8

60
40
20
0
20-4Q

21-1Q

21-2Q

21-3Q

21-4Q

22-1Q

22-2Q

22-3Q

* The average exchange rate in the fiscal year ended February 2024 was ¥141.2/$1.
Note: The prices of crude oil and naphtha and the exchange rates are on a three-month average basis.
Copyright © MORESCO Corporation All Rights Reserved.

22-4Q

23-1Q

23-2Q

23-3Q

23-4Q

5

Consolidated Statement of Income
Both sales and profit increased due to the correction of selling prices and an increase in the overseas
sales volume. Recorded extraordinary gains resulting from the conversion of an equity-method affiliate
to a wholly-owned subsidiary.
(Million yen)

FY2022

FY2023 Year-on-year change

Net sales

30,33331,886+5.1%

Gross profit

8,129

8,984

+10.5%

7,606

7,759

+2.0%

523

1,225

+134.2%523

601+15.0%

Ordinary profit

1,046

1,826

+74.6%

Profit before tax

1,046

2,055

+96.5%

615

1,283+108.8%

SG&A

Operating profit
Non-operating profit(loss)

Profit** Profit attributable to owners of parent

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6

Net sales by Business Segment
Sales of products related to automobiles and sanitary materials were robust. On the other
hand, investments in data centers continued to be sluggish.
(Million yen)
Special Lubricants

Hot Melt Adhesive

FY2022
15,105

7,664

Year-onFY2023 year change
16,2478,430

31,88630,333LiquidParaffin &Sulfonates+8%

Hot Melt
Adhesive+10%Synthetic
Lubricants

1,703

1,337

▲22%

Liquid Paraffin &Sulfonates

3,793

3,909

+3%

Other

2,068

1,963

▲5%

Total net sales

30,33331,886+5%

Other

Synthetic Lubricants

Copyright © MORESCO Corporation All Rights Reserved.

Special
Lubricants

FY2022

FY2023

7

Special Lubricants[Net sales] Up 7.6% year on year (¥16,247 million)[Sales volume] Up 1.5% year on year

➢ DC fluids

Million yen

In addition to an increase in the volume ofautomobile production, shipments ofminimum-quantity spray-type lubricantsalso increased.

5,068
4,586

3,772
3,059

➢ Cutting fluids

1,920

Sales to new customers in Southeast/
South Asia and North America increased.

➢ Vacuum oil
Export to China was sluggish.

2,025

1,140 1,127

Vacuum
oil

3,537

3,292

863

Hydraulicfluid

DC fluid
FY2022

Copyright © MORESCO Corporation All Rights Reserved.

963

Cutting Forging oil
fluidsOther

FY20238

Hot Melt Adhesive[Net sales] Up 10.0% year on year (¥8,430 million)[Sales volume] Up 8.0% year on year

Million yen

6,069➢Hygiene applications

5,445

Sales of products for disposable diapers
applications were favorable in major areas.

➢Adhesive
Sales volume increased due to priceadjustments as well as sales growth inSoutheast/South Asia.

966

Hygiene applications

Adhesive
FY2022

Copyright © MORESCO Corporation All Rights Reserved.

1,007

1,253

1,354

Other

FY20239

Liquid Paraffin & Sulfonates[Net sales] Up 3.1% year on year (¥3,909 million)[Sales volume] Down 4.5% year on year

Million yen➢Liquid Paraffin
Net sales increased slightly due to sales
price adjustments, despite a decline in sales
volume of products for polystyrene
plasticizer applications.

2,747

2,845

➢Sulfonates

777

764

Remained roughly even from a year ago.

301

269

Liquid Paraffin

Sulfonates

FY2022

Copyright © MORESCO Corporation All Rights Reserved.

Other

FY202310

Synthetic Lubricants[Net sales] Down 21.5% year on year (¥1,337 million)[Sales volume] Down 12.4% year on year

(Unit: Million yen)➢High temperature lubricating oils

1,038

1,069

Sales increased due to price adjustments,
as well as the recovery trend seen in thelatter half of the fiscal year.

613➢HD lubricants

220

Sales decreased due to the impact ofsluggish investments in data centers.

48

52

High temperaturelubricating oils

HD lubricants
FY2022

Copyright © MORESCO Corporation All Rights Reserved.

Other

FY202311⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

Copyright © MORESCO Corporation All Rights Reserved.

12

Consolidated Statement of Income
Factors behind change
Net sales••

Recovery in automobile production
Adjustments of sales prices

Operating profit•••

Securing gross profit by adjustingsales priceAn increase in shipment of highvalue-added products
Curtailment of selling, general andadministrative expenses

Profit••Recording of extraordinary gains
resulting from the conversion of anequity-method affiliate to a whollyowned subsidiary
Recognition of foreign exchange
gains(Million yen)

FY2022

FY2023Year-on-yearchangeNet sales

30,33331,886

+5.1%
+5.1%

Gross profit

8,129

8,984

+10.5%

SG&A

7,606

7,759

+2.0%

R&D expenses(1,246)(1,321)+6.0%

Operating profit

523

1,225

+134.2%+134.2%Non-operating
profit (loss)

523

601

+15.0%

Ordinary profit

1,046

1,826

+74.6%

Profit before tax

1,046

2,055

+96.5%

615

1,283+108.8%+108.8%

Profit** Profit attributable to owners of parent
Copyright © MORESCO Corporation All Rights Reserved.

13

Quarterly Trends in Consolidated Sales and Consolidated Gross Profit Margin

Recovery in the margin due to the promotion of price adjustments and an increase in sales ofhigh-value-added products
Million yen

9,000

Consolidated sales
Consolidated gross profit margin

7,854

7,596

7,790

8,345

8,155

6,000

30%
29.1%

29.1%
26.6%

27.4%

27.0%

3,000

29.0%

27.1%

24.7%

0

20%

22-1Q

22-2Q

22-3Q

22-4Q

23-1Q

Copyright © MORESCO Corporation All Rights Reserved.

23-2Q

23-3Q

23-4Q
14

Segment Profits and Losses[Japan]Recorded higher sales and profits as the sales volume of major products exceeded the previous fiscal year
and the price adjustments progressed.
[China]Both sales and profits declined due to lower operation rates at Japanese automobile manufacturers and a
decline in demand for hot melt adhesives for filters.
[Southeast/South Asia] Recorded higher sales and profits due to the recovery in the automobile production volume and the sales
expansion of hot melt adhesives.
[North America]
Recorded higher sales and profits due to an increase in shipment of minimum-quantity spray-type lubricants.

Net sales

Operating profit

Million yen

Million yen

25,000700

20,22920,000586

600

19,637500
15,000

400
311

309

300

10,000

5,870
5,000

6,737

181

200

118

3,814 3,536
1,011 1,384

0

123
87

100
33
0

Japan

China
Results of the fiscal
2023/2月期実績

year ended February
2023

Southeast/South Asia

North America

Japan

China
Results of the fiscal
2023/2月期実績

Results of the fiscal
2024/2月期実績

year ended February
2024

year ended February
2023

Copyright © MORESCO Corporation All Rights Reserved.

Southeast/South Asia

North America

Results of the fiscal
2024/2月期実績

year ended February
2024

15

Consolidated Balance sheet(Unit: Million yen)

Factors behind change

Cash and deposits

Property, plant and equipment

ChangeChange5,636+1,380Trade payables

4,908

▲236

6,105

+3,252

Trade receivables

7,942

+346

Interest-bearing
liabilities

Machinery and equipment, etc.
+498

Inventories

6,687

+381

Other current
liabilities

1,912

▲162

•

Land

Other

725

+72

Other non-current
liabilities

1,006

+299

•

Construction in progress ▲458

20,989+2,180Total liabilities

13,931+3,153

Share capital/
capital surplus

4,089

▲6

•

Buildings and structures +1,119

•

+293

Intangible assets•

Goodwill+451

Total current assets
Property, plant andequipment

10,140+1,540Intangible assets

1,228

+639

Retained earnings

14,674+914

Investments and
other

4,695

+693

Treasury shares

△561

+6

Accumulatedcomprehensive
income

1,924

+678

Non-controllinginterests

2,996

+290

+2,856

Total net assets

23,122+1,883+5,036

Total liabilities
and capital

37,053+5,036

Interest-bearing liabilities•

Short-term borrowings

+659

•

Long-term borrowings+2,593
Total non-current
assetsTotal assets

16,06337,053Copyright © MORESCO Corporation All Rights Reserved.

Note) Change: comparison with the end of the fiscal year ended February 2023

16

Consolidated Cash flow
(Unit: Million yen)

Factors behind change
Operating cash flow•••

＋2,934

Profit before income taxes
2,055
Depreciation 1,188
Gain on bargain purchase▲285＋2,819▲123

Investment cash flow••

Purchase of property, plant andequipment ▲2,527
Acquisition of businesses▲1,224

Financial cash flow
•
•

5,566

▲4,2504,186

Balance at
beginning of
periodOperating CF

Investment CF

Financial CF

Translation
adjustments,
etc.

Balance at endof period

Long-term borrowings 3,536
Dividends ▲369

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17

FY2024 Earnings Forecast(Million yen)

FY2023
Estimate➢Premises of the fullyear forecasts
Crude oil price: 97$/b
Exchange rate:$145 dollars/¥1➢Dividend/share(forecasts)

Forecasts for the
fiscal year ending
February 2025

YoY

Net sales

31,88634,000

6.6%

Operating profit

1,225

1,500

22.5%

Ordinary profit

1,826

1,850

1.3%

Profit

1,283

1,050

▲18.2%

Interim: ¥20; year-end: ¥25

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18

Topics for Fiscal Year Ended February 2024
Strengthening of global businessexpansion

Cross Technologies Group, Inc.

MORESCO (ZHEJIANG) FUNCTIONAL
MATERIAL CO., LTD.

➢ Acquisition of businesses in North
America✓✓Strengthening of stable supply by securing
production bases
Sales expansion of American parts
manufacturers➢ Business restructuring in China✓✓

Streamlining of the Special Lubricants Business
Strengthening of development systems

Shareholder returns➢ Commemorative dividends➢ Purchase of treasury shares

Purchase of treasury shares◼ Purchase period: March 1, 2024 to April 30, 2024
◼ Number of shares purchased: 71,600◼ Purchase price:¥ 99,894,600◼ Method of purchase: Purchase through a market at
Tokyo Stock Exchange
Copyright © MORESCO Corporation All Rights Reserved.

19

Topics for Fiscal Year Ended February 2024
Recognized for 4 consecutive years
Health & Productivity Management Outstanding Organization(Large Enterprise Category)Initiatives

Health management declaration
MORESCO believes that the physical and mental health of its

employees is essential for the sustainable development of thecompany. We will promote the health of our employees in order torealize "a company where each and every person grows

up in a rich environment and creates new value."➢ Shortened work hour system for family care/childcare, flextime
system➢ Encouraging all employees to improve paid leave utilization rate
(Target: 60% or more)➢ Periodic stress checks

Structure
Health Management Officer

FY2021

FY2022

FY2023

Paid leave
utilization rate

73%

74%

76%

Stress checkattendance rate

88%

86%

86%

(Representative Director, President)

Director in charge of Human
Resources

Industrial physicians

Human Resources segment

Health insurance
associations

Public Relations segment

Copyright © MORESCO Corporation All Rights Reserved.

20⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

Copyright © MORESCO Corporation All Rights Reserved.

21

Summary of the 9th Medium-Term Management Plan
- Business performance[Net sales]

Increased due to an increase in shipments resulting from recovery in automobile production, as
well as the weaker yen[Operating profit]

Remained at a certain level due to a time lag between soaring raw material prices and sales priceincreases, sluggish data center investment, etc.

Net sales

Operating profit

Million yen

Million yen

40,000Plan

30,33330,00025,88027,3002,500

ResultPlan

Result2,260

31,88629,8002,000

27,700

1,670

1,434

1,500

1,225

1,200

20,0001,000

523

10,000500

00FY2021

FY2022

FY2023Copyright © MORESCO Corporation All Rights Reserved.

FY2021

FY2022

FY202322

Summary of the 9th Medium-Term Management Plan
- Major achievements and ongoing issues
Medium-Term Corporate Policies

Major achievements

Ongoing issues

1) Contribute to realization of a sustainable
society(Promotion of sustainability management)⚫ Start of the certification system for MORESCO Green SX ⚫ Expansion of MORESCO Green SX products⚫ Acceleration of product development on the theme(hereinafter “MGS”) products*of environmental responsiveness⚫ Establishment of Corporate Sustainability Department
and committees

2) Increase added value of business anddevelop new business fields⚫ Progress in price correction in key areas⚫ Reinforcement of company-wide development system⚫ Industry-academia collaboration with externalorganizations⚫ Expansion of target products by continuing pricecorrection activities⚫ Commercialization of research results in new
business fields

3) Reduce manufacturing costs and improve
quality⚫ Renewal of aging equipment, system automation (quality
control), etc.

⚫ Deployment of domestic know-how overseas

4) Improve operational efficiency in theadministrative division⚫ Work style reform using DX (choice of diverse work
styles)⚫ Further improvement in operational efficiency byutilizing DX/AI technology, etc.

5) Enhance compliance⚫ Expansion of in-house training programs⚫ Establishment of a global compliance system

Overseas strategy◼ Promote business development in China,
North America, and emerging countries⚫ Introduction of executive officers in charge for our three ⚫ Improving profitability of China businessmajor overseas areas (Southeast/South Asia, China, and ⚫ Business expansion in North America and Mexico
North America)⚫ Restructuring of China business⚫ Reinforcement of the North American lubricant businessthrough acquisitions

Capital strategy◼ Promote ROIC management to enhancecapital efficiency⚫ Establishment of ROIC project team and enhancement of ⚫ Utilization of ROIC indicators, etc.
employee awareness* Products that may significantly contribute to the issues of materiality based on evaluation of the entire product cycle, from procurement of raw materials to disposal, are certified as MORESCO Green SX products.
(Reference) https://www.moresco.co.jp/en/sustainability/sdgs.php
Copyright © MORESCO Corporation All Rights Reserved.

23⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

Copyright © MORESCO Corporation All Rights Reserved.

24

10th Medium-Term Management Plan - Basic policies and major initiatives
Theme of the 10th Medium-Term Management Plan

Achieving both “realization of a sustainable society” and “increasing added
value of business”
Basic policies

Major initiatives

Promotion of Sustainability Management• Promotion of carbon neutrality・Increasing MGS product sales ratio• Efforts to reduce environmental impact

Enhancement of Our Product Portfolio• Development and sales expansion of high-value-added products• Response to circular economy

Creation of Next-Generation Business• Promotion of Project MOLGADC (・Focus on life science business• Development of technology to create non-petrochemical materials• Promoting businesses related to perovskite solar cells)

Innovation of Business Processes

Improvement of the Return on Capital• Innovation of production processes• Promotion of DX• Addressing logistics issues• Measures to improve PBR・Shareholder returns• Promotion of human capital management• Strengthening IR activities

Copyright © MORESCO Corporation All Rights Reserved.

25

10th Medium-Term Management Plan - Business targets
FY2023
Estimate

FY2024
Forecast

31,88634,00038,000

-

7%

6%

1,225

1,500

2,700

3.8%

4%

7%

Ordinary profit

1,826

1,850

3,000

ROE

6.6%

-

8% level

Consolidated payout ratio

32.4%

39.3%

30% or more

29%

-

40%

-

-

Million yen

Net sales
Sales growth rate

Performance

Operating profit
Operating profit margin

FY2026
Plan

Capital efficiency

Non-financial
targets

Sales ratio of MGS products
CO₂ emissions reduction rate
* Compared to 2013(2022 result)34%(2022 result)

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26

10th Medium-Term Management Plan - Net sales by business segment
Division

Special Lubricants(Synthetic Lubricants)

FY2023
Estimate

FY2024
Forecast

FY2026
Plan

17,584

19,50021,600（1,337）（1,350）（1,700）Million yen

38,00034,00031,886

Other
LiquidParaffin &Sulfonates

Hot Melt
Adhesive

Hot Melt Adhesive

8, 430

8,400

9,600
Synthetic LubricantsLiquid Paraffin &Sulfonates

3,909

4,000

4,300
Special
Lubricants

Other(including subsidiaries)

Total net sales

1,963

2,100

2,500

31,88634,00038,000

Copyright © MORESCO Corporation All Rights Reserved.

FY2023
Estimate

FY2024
Forecast

FY2026Plan

27

Growth strategy and capital/financial strategy – Measures to improve PBR

Capital and financial
strategies

Growth strategy➢ Advance both growth strategy and capital/financial strategy to achieve “improvement of the return on capital”

Promotion of Sustainability Management/Enhancement of Our Product Portfolio/Creation of
Next-Generation
Business Business
Creationof Next-Generation

Restructuring⚫

Development and sales of MGS products which is high-value-added products⚫

Promote enhancement of a product portfolio⚫

Launch nanoemulsion products and out-license autophagy activating drugs in the life science business⚫

Expand business in overseas growth markets centered around Southeast/South Asia, North America, and China

Promotion of profitability improvement measures/Shareholder
returns/Human
capitalImprovement of the
Return on Capitalmanagement/Strengthening IR activities⚫

Promote measures that will lead to improved profitability in each business division (utilization of ROIC indicators, etc.)⚫

Positioning shareholder returns as a key management issue, implement a dividend policy aimed at a consolidated
dividend payout ratio of 30% or more⚫

Promote human capital management⚫

Enhance IR information and hold active dialogue with investors

Copyright © MORESCO Corporation All Rights Reserved.

28

Promotion of Sustainability Management - Initiatives toward carbon neutrality➢ 46% reduction in GHG emissions from internal energy consumption by 2030
(compared to 2013)➢ Achieve carbon neutrality by 2050, including Scope 1, 2, and 3

Expressed endorsement on November 11, 2022

Scope 1, 2 GHG emissions* by MORESCO Group (in Japan)
Unit: t-CO2

11,0357,302

7,100(▲36%)

5,959(▲46%)

2013

2017

2018

2019
Scope 1 direct emissions

2020

2021

2022

2023

2030

Scope 2 indirect emissions*The reduction rate for 2023 is a provisional figure obtained before the electricity emission factor for the fiscal year was finalized.
Copyright © MORESCO Corporation All Rights Reserved.

29

Promotion of Sustainability Management - MORESCO Green SX products sales ratio➢ Promoting efforts to improve existing products and develop new products to achieve 2030 targets➢ Promoting enhancement of a product portfolio by expanding sales of MORESCO Green SX products which is highvalue-added products

Sales ratio targets

Representative products
Water-soluble minimum quantity
spray-type lubricant
GRAPHACE MQ series

50%

Energy conservation
Environmental protection

40%
Improving work environment

29%
Water-glycol fire-resistant hydraulic
fluid
HYDOL

CO₂ emission reduction

New oil

Extracting
reusablecomponents

Used oil

Environmental protection
FY2022 result

FY2026 target

FY2030 target

Copyright © MORESCO Corporation All Rights Reserved.

30

Creation of Next-Generation Business - Corporate R&D system➢ Establish a development system across Divisions, based on collaborations within the company and with industry,
government, and academia. Flexibly review priority projects.
➢ Promote MOLGADC*, a company-wide project, and achieve results.

Priority projects

Division A

Division B

Division C

Overseassubsidiaries
Cooperating
universities

Co-creation/
cooperating companies• Development of nanoemulsion in the life science field• Drug discovery and development of autophagy
activators, etc.

R&D
meetings• Solving basic
issues• Solvingcommonissues• Hub function
for exchange/flow• In-house production of polymers from non-petroleumderived raw materials• Development of materials for non-silicon photovoltaic
devices• Deployment of development methods applying
machine learning• Circular products and next-generation product group・・・・・・・・・・* Named after the initials of priority projects (initially five projects). Now expanded to eightCopyright © MORESCO Corporation All Rights Reserved.

Creation of new technologies,
new basic technologies, and new
businesses

Project MOLGADC overview

31Creation of Next-Generation Business - Life science business
Commercialization of nanoemulsion

Patent applications in the drug development field➢ Establish a mass production system in response to
adoption by major cosmetics manufacturers➢ Develop nanoemulsion containing CBD(cannabidiol)➢ Develop in-house cosmetics containing
nanoemulsion➢ Invested in AutoPhagyGO, a venture started from a
university, in July 2020 and commenced joint
research and development.
➢ Made the first application for a patent related to
autophagy activating drugs at the end of February
2024.

Nanoemulsion MORESCO-NANOREACH

12nm *➢

Horny layer➢
Intercellular space
Granular
layer

Approx. 40 nm➢

Autophagy research refers to research that leads to prevention
and cure of various phenomena and diseases related to aging.
In the joint research, drug development activities are being
undertaken for autophagy that can be expected to improve
lifestyle-related diseases.
The aim is to obtain important compounds, thepharmacological efficacy of which is improved.

* nm: nanometer 10−9 meters (m) = one billionth of a meter

Copyright © MORESCO Corporation All Rights Reserved.

32

Creation of Next-Generation Business- Development of technology to create non-petrochemical materials➢ Promote the establishment of technology to synthesize non-petrochemical hydrocarbons from methane, which has a high global
当社の合成・精製技術を活用
warming potential, as a raw material➢ Produce 10 tons of bio formic acid per year by 2026, and aim for domestic production and in-house procurement of nonpetrochemical materials in the future
Biopolymer(tentative name)Hokko bio-gas plant
BiogasMethanefermentation

Bio formic acid
Chemical reaction(light + air + catalyst)

Aiming for use of
our products as raw
materials

Photo taken in April 2024

Cow excrement, food waste, etc.

MORESCO participates in the Okoppe Town (Hokkaido) Carbon Neutral
Innovation Consortium (OCNIC) and aims to promote resource circulation andbiogas plants by utilizing its synthesis and refining technologies while
contributing to improving the productivity of bio formic acid.

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Silage (grass)33

Creation of Next-Generation Business - Sealant for perovskite solar cells➢ Participating in a consortium launched by Prof. Miyasaka, Toin University of Yokohama Contributing to
the commercialization of perovskite solar cells within 2026 by providing high-performance sealants
Prototype of next-generation solar cell “perovskite”

Participating in the consortium

Consortium
Peccel Technologies, Inc.
(Representative: Prof. Miyasaka)
MORESCO Corporation
MACNICA, Inc.
(Source: Toin University of Yokohama)

REIKO Co., Ltd.

Features of our sealantMitsubishi Chemical Corporation

1. No damage to perovskite elements even when directly bonded
2. Demonstrates excellent adhesion simply by pasting onto the base material(No heating or UV treatment required)

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34⚫ Business Report⚫ Report on Consolidated Financial Results

Contents⚫ Review of the 9th Medium-term Management Plan

⚫ Overview of the 10th Medium-term Management Plan

⚫ Agenda of General Meeting of Shareholders and Introductionof Directors

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35

Agendum 1
Disposal of Retained Earnings

Year-end dividends
25 yen per share of common stock(Ordinary dividend 20 yen, 65th anniversary commemorative
dividend 5 yen)
Total 230,819,500 yen(Annual dividend: 45 yen per share)

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36

Agendum 2
Partial Amendment of the Articles of Incorporation

Amendment draft(Purpose)

Article 2
1. through 3. (Same as the current provisions)
4. Manufacture and sale of pharmaceuticals, quasi-drugs, andcosmetics
5. through 16. (Same as the current provisions)

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37

Agendum 3Election of Six Directors (except Directors who are Audit andSupervisory Committee Members)

Candidates

Motohisa Morozumi
Nobuhiro Sewaki
Yasuo Sakane
Hirofumi Fujimoto
Jiro Hosomi (New)
Hiroko Fuji (Outside Director)
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38

Agendum 4Election of Four Directors Who Are Audit and Supervisory
Committee Members

Candidates

Mikio Honda
Kazuo Machigaki
Mikio Nakajo
Hidetoshi Nakatsuka

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39

Agendum 5
Revision of the Amount of Remuneration for Directors (except
Directors who are Audit and Supervisory Committee Members)

Six eligible Directors
Not more than 250 million yen per year(including not more than 20 million yen per year for
Outside Directors)

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40

Agendum 6
Revision of the Amount of Remuneration for Directors Who Are
Audit and Supervisory Committee Members

Four eligible Directors
Not more than 50 million yen per year

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41

Directors

Motohisa Morozumi
Nobuhiro Sewaki
Yasuo Sakane

Mikio Honda(Full-time Audit and Supervisory Committee Member)

Kazuo Machigaki(Audit and Supervisory Committee Member)

Hirofumi Fujimoto

Mikio Nakajo

Jiro Hosomi (New)

Hidetoshi Nakatsuka

Hiroko Fuji (Outside Director)(Audit and Supervisory Committee Member)(Audit and Supervisory Committee Member)

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42

Head Office and Research Center

Kobe City

Kobe Airport➢ Performance outlook and other information related to future forecasts and strategies contained in this material is based on the Company’s
decisions at the time of preparation of this material and is subject to change in the future without prior notice.
➢ The Company will not be held responsible for any damage caused by making investment decisions based solely on the performance outlook
and target figures provided in this material.
➢ Please note, copying or distributing this material without permission is prohibited.

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43