Consolidated Financial Results for the Year Ended March 31, 2022
(JPGAAP)May 13, 2022

Stock Exchange: Tokyo
Name of listed company: Nissan Chemical Corporation
URL: https://www.nissanchem.co.jp/
Code Number: 4021
Representative: YAGI Shinsuke, President
Inquiry to: ARITA Nobuhiro, Managing Associate Executive Officer Head of Finance and Accounting Department Tel. +81 3 4463 8401
Scheduled dividend payment date : June 29, 2022
Scheduled date of annual shareholders' meeting: June 28, 2022
Scheduled date of submitting the Annual Securities Report : June 28, 2022
Supplemental information: Yes
Financial results meeting: Yes (for institutional investors and analysts)(Amounts rounded down to the nearest million yen)

1. Consolidated Financial Results for the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(1) Consolidated Operating Results(% indicates the rate of increase/decrease year on year)

OperatingincomeNet salesYear ended March 31, 2022
Year ended March 31, 2021
(Note) Comprehensive income:Ordinary
incomeNet income attributable toowners of parent

Million yen%

Million yen%

Million yen%

Million yen%

207,972(0.5)

50,95919.8

53,69022.3

38,77615.9

209,1211.1

42,53010.0

43,8939.7

33,4708.7

Year ended March 31, 2022

: 36,511 million yen, 5.6 %Year ended March 31, 2021

: 38,663 million yen, 44.7%

Basic earnings
per share

Ratio ofnet income toshareholders' equity

Diluted net income
per shareYen

231.73

Year ended March 31, 2021
(Reference) Equity in earnings of affiliates: Year ended March 31, 2022

: 950 million yen: Year ended March 31, 2021

: 1,123 million yen

Ratio of operating
income tonet sales

%

%

%

19.2

19.7

24.5

17.5

17.0

20.3

Yen

271.88Year ended March 31, 2022

Ratio of ordinary
income tototal assets(2) Consolidated Financial Position
Total assets

As of March 31, 2022
As of March 31, 2021
(Reference) Shareholders' equity:

Net assets

Net assets
per share

Equity ratio

Million yen

Million yen%

Yen279,687

208,00973.6

1,454.01

265,509200,56274.9

1,384.13

As of March 31, 2022 : 205,912 million yen
As of March 31, 2021 : 198,828 million yen(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at
end of period

Cash flows fromfinancing activities

Million yen

Million yen

Million yen

Million yen

Year ended March 31, 2022

41,949(12,395)(27,868)

34,658Year ended March 31, 2021

39,939(12,854)(25,629)

32,380Total
cash dividends(annual)Dividend
Ratio ofpayoutdividendratio
to net assets(consolidated) (consolidated)

2. Cash Dividends
Cash dividends per shareFirst
quarter

Secondquarter

Third
quarterYear-end

AnnualYen

YenMillion yen%%

Year ended March 31, 2021

46.00

58.00

104.0014,97944.9

7.9

Year ended March 31, 2022

50.00

72.00

122.0017,30644.9

8.6

Year ending March 31, 2023
(Outlook)

66.00

88.00

154.00

Yen

Yen

Yen

54.8

3. Outlook of Consolidated Financial Results for the Fiscal Year Ending March 31, 2023 (From April 1, 2022 to March 31, 2023)(% indicates the rate of increase/decrease against the same period of the previous year)
OperatingincomeNet sales

Ordinary
incomeNet income attributable toowners of parent

Basic earnings
per share

Million yen%

Million yen%

Million yen%

Million yen%

Yen

Six months
ending September 30, 2022

101,100

10.1

26,00021.9

26,30018.1

19,30018.5

136.77

Year ending March 31, 2023

219,000

5.3

53,5005.0

54,1000.8

39,6002.1

280.904. Notes(1) Changes in significant consolidated subsidiaries(Changes in specified subsidiaries involving changes in scope of consolidation): None(2) Changes of accounting policies and accounting estimates, and restatement
1. Changes of accounting policies due to revisions of accounting standards: Yes

2. Changes of accounting policies other than the above: None3. Changes in accounting estimates: None4. Restatements: None(Note) Please refer to [4. Consolidated Financial Statements (5) Notes to Consolidated Financial Statements"(Changes in Accounting Policies)"] on page 15 for further details.
(3) Number of shares outstanding (common shares)
1. Number of shares outstanding (including treasury shares)
As of March 31, 2022

: 143,000,000 shares

As of March 31, 2021

: 145,000,000 shares

2. Number of treasury shares
As of March 31, 2022

: 1,383,611 shares

As of March 31, 2021

: 1,351,888 shares

3. Average number of shares outstanding over the year
As of March 31, 2022

: 142,624,319 shares

As of March 31, 2021

: 144,438,465 shares

July 30,2019. The shares held by the Trust are included in the number of treasury shares at the end of the period, and they
are included in the number of treasury shares deducted in calculating the average number of shares outstanding over theperiod. The number of shares held by the Trust (included in treasury shares) at the end of the period was 164,000 shares.
In addition, the average number of shares held by the Trust during the period was 164,275 shares.
This is not included in the average number of shares outstanding.
* Presentation regarding implementation status of audit proceduresThis financial release is not subject to audit procedures based on Financial Instruments and Exchange Law in Japan.
Audit procedures of financial statements based on Financial Instruments and Exchange have not been completed at the time of disclosure.
* Explanations regarding appropriate use of business outlook and other special notes
The business outlook contained in this report is based on information available at the time of disclosure.
Actual operating results may differ materially from the outlook due to various factors.
The prerequisite information of outlook and other items are on page 3 to page 4.
For supplemental information, please refer to our website.
The transcript of financial results briefing will be released on our website as well.

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3

4

5

6

7

8

2. Consolidated Financial Statements(1) Consolidated Balance Sheets(Million yen)
As ofMarch 31, 2021

As ofMarch 31, 2022

AssetsCurrent assets
Cash and deposits

32,38034,658Notes and accounts receivable - trade73,937

79,979Merchandise and finished goods

33,774

37,66423

15

12,853

14,496Work in process
Raw materials and supplies
Accounts receivable - other

2,534

2,824

Short-term loans receivable

1,223

1,541

Other

2,892

4,140

Allowance for doubtful accounts

(31)

(41)

159,588

175,279

68,43869,443

Accumulated depreciation and impairment loss

(43,601)(45,158)

Buildings and structures, net

24,83724,284

Machinery, equipment and vehicles

140,790145,129(128,053)(132,567)

12,736

12,561

Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures

Accumulated depreciation and impairment loss
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation and impairment loss
Tools, furniture and fixtures, net

39,77541,345(36,742)(37,384)

3,033

3,960

Land

8,996

8,809

Construction in progress

2,233

3,561

Total property, plant and equipment

51,83753,177

548

1,736

Other

11,581

10,044

Total intangible assets

12,12911,78035,89430,217

2

3,323

205

918

Intangible assets
SoftwareInvestments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Net defined benefit asset

2,478

1,844

Other

3,483

3,256

Allowance for doubtful accounts

(110)

(110)

Total investments and other assets
Total non-current assets
Total assets

941,95339,450105,921

104,408

265,509279,687(Million yen)
As ofMarch 31, 2021

As ofMarch 31, 2022

Liabilities
Current liabilities
Notes and accounts payable - trade16,29819,043

Short-term loans payable

20,937

20,981

Current portion of long-term loans payable

552

552

Income taxes payable

7,113

8,710

Provision for bonuses

2,250

2,285

7

-

Other

Provision for directors' bonuses

12,585

14,398

Total current liabilities

59,74465,971Long-term loans payable

1,184

1,182

Deferred tax liabilities

1,310

69

171

698

-

626

91

200

Non-current liabilities

Provision for business structure improvement
Provision for loss on business of subsidiaries and affiliates
Provision for share-based remuneration for directors(and other officers)
Net defined benefit liability
Other
Total non-current liabilities

249

290

2,196

2,638

5,202

5,706

64,947

71,678

Capital stock

18,942

18,942

Capital surplus

13,613

13,613Retained earnings

161,708

172,393

Treasury shares(7,340)(8,261)

Total shareholders' equity

186,923

196,688

11,3598,304

Foreign currency translation adjustment

81

898

Remeasurements of defined benefit plans

463

21

11,904

9,223

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

10

1,733

2,097

200,562

208,009265,509279,687

(2) Consolidated Statements of Income / Consolidated Statements of Comprehensive Income- Consolidated Statements of Income(Million yen)
Year Ended
March 31, 2021

Year Ended
March 31, 2022

Net sales

209,121

207,972

Cost of sales

121,376

106,883

Gross profit

87,745101,089

Selling, general and administrative expenses

45,21450,129Operating income

42,53050,959Non-operating income
Interest income

1649

Dividend income

981

768

Equity in earnings of affiliates

1,123

950

-

1,134

668

918

2,790

3,821

Interest expenses

69

73

Loss on disposal of non-current assets

696

682

Loss on sales of non-current assets

4

116

Plant stop losses

177

108

Foreign exchange losses

52

-

Other

426

109

Foreign exchange gains
Other
Total non-operating income
Non-operating expenses

Total non- operating expenses
Ordinary income

1,427

1,090

43,89353,690Extraordinary income
Gain on sales of investment securities

1,588

3,366

Total extraordinary income

1,588

3,366

Extraordinary losses
Loss on valuation of investment securities-

477

Business structure improvement expenses

-

1,792

Loss on business of subsidiaries and affiliates-

626

Total extraordinary losses

-

2,896

Income before income taxes and non-controlling interests

45,481

54,160

Income taxes - current

12,037

14,713

Income taxes - deferred

(50)

312

Total income taxes

11,98615,026

Net income

33,495

39,13425

357

33,47038,776

Net income attributable to non-controlling interests
Net income attributable to owners of parent11

- Consolidated Statements of Comprehensive Income(Million yen)
Year Ended
March 31, 2021
Net income

Year Ended
March 31, 2022

33,495

39,134

Valuation difference on available-for-sale securities

3,575(3,055)

Foreign currency translation adjustment

1,075

875

514

(442)

1

0

Other comprehensive income

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income

5,167(2,622)

38,66336,511

38,54036,095122

416(Comprehensive income attributable to)
Owners of parent
Non-controlling interests12(3) Consolidated Statements of Changes in Net Assets
For the Year Ended March 31, 2021(From April 1, 2020 to March 31, 2021)(Million yen)
Total shareholders' equity
Capital stock

Balance at beginning of current
periodCapital surplus

18,942

13,613Retainedearnings

Treasury shares

146,997(2,470)Total
shareholders'equity177,082

Changes of items during period
Dividends of surplus(13,629)(13,629)

Net income attributable to ownersof parent

33,47033,470Share repurchase(10,002)(10,002)1

1(5,130)5,130-

Disposal of treasury shares
Cancellation of treasury shares
Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period--

14,710(4,870)9,840

18,942

13,613

161,708(7,340)186,923

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements
accumulateddifference ontranslationof defined benefit
otheravailable-for-saleadjustment
planscomprehensive
securities
incomeBalance at beginning of current
period

7,782

(896)

51

6,834

Non-controllinginterests

1,610

Total
net assets

185,528

Changes of items during period
Dividends of surplus(13,629)

Net income attributable to ownersof parent

33,470Share repurchase(10,002)

Disposal of treasury shares

1

Cancellation of treasury shares-

Net changes of items other thanshareholders' equity

3,577

978

514

5,070

123

5,193

Total changes of items during period

3,577

978

514

5,070

123

15,033

Balance at end of current period

11,35981463

11,904

1,733

200,56213

For the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)(Million yen)
Total shareholders' equity
Capital stock

Balance at beginning of current
periodCumulative effects of changes inaccounting policies
Restated balance

Retainedearnings

Capital surplus

18,942

13,613

Treasury shares

161,708(7,340)(1,548)18,942

13,613

160,160

Total
shareholders'equity186,923
1,548(7,340)185,375

Changes of items during period
Dividends of surplus(15,468)(15,468)

Net income attributable to ownersof parent

38,776

38,776

Share repurchase(12,003)(12,003)88

Disposal of treasury shares

0Cancellation of treasury shares(0)(11,074)

11,074---

12,233(920)

11,313

18,942

13,613

172,393(8,261)

196,688

Net changes of items other thanshareholders' equity
Total changes of items during period
Balance at end of current period

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurements
accumulateddifference ontranslationof defined benefit
otheravailable-for-saleadjustment
planscomprehensive
securities
incomeBalance at beginning of current
periodCumulative effects of changes inaccounting policies
Restated balance

11,35981463

11,904Non-controllinginterests

1,733

Total
net assets

200,562(1,548)

11,35981463

11,904

1,733

199,013

Changes of items during period
Dividends of surplus(15,468)

Net income attributable to ownersof parent

38,776

Share repurchase(12,003)

Disposal of treasury shares

8

Cancellation of treasury shares-

Net changes of items other thanshareholders' equity(3,055)

816

(442)

(2,680)363(2,317)

Total changes of items during period(3,055)

816

(442)

(2,680)

363

8,995

Balance at end of current period

8,304

898

21

9,223

2,097

208,00914

(4) Consolidated Statements of Cash Flows(Million yen)
Year Ended
March 31, 2021

Year Ended
March 31, 2022

Cash flows from operating activities
Income before income taxes and non-controlling interests

45,481

54,160Depreciation and amortization

10,346

10,119Business structure improvement expenses

-

1,792

Loss on business of subsidiaries and affiliates-

626

Loss on valuation of investment securities-

477

Amortization of goodwill

78

103

Interest and dividend income
Loss (gain) on sales of investment securities

(997)

(817)

(1,588)(3,366)

Interest expenses

69

73

Loss (gain) on disposal of non-current assets

696

682

Decrease (increase) in notes and accounts receivable - trade(1,016)(5,704)

Decrease (increase) in inventories(2,398)(6,230)

Increase (decrease) in notes and accounts payable - trade

(842)

2,523

Other

(671)

(1,163)

Subtotal

49,15953,277

Interest and dividend income received

1,925

1,913

Interest expenses paid

(69)

(73)

Income taxes paid

(11,076)(13,168)

Net cash provided by (used in) operating activities

39,93941,949Purchase of investment securities

(159)

(190)

Proceeds from sales of investment securities

3,063

4,248

Purchase of shares of subsidiaries(1,209)(22)

Purchase of property, plant and equipment(8,254)(11,253)

(598)

(466)

Cash flows from investing activities

Payments for retirement of property, plant and equipment
Purchase of intangible assets
Payments for transfer of business
Payments of long-term loans receivable(688)(1,133)(5,384)--(3,322)

Net decrease (increase) in short-term loans receivable

522

(262)

Purchase of long-term prepaid expenses

(222)

(188)

Other
Net cash provided by (used in) investing activities

77

196

(12,854)(12,395)(2,017)

(345)

660

550

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Dividends paid to non-controlling interests
Share repurchase
Other
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(640)

(552)

(13,629)(15,468)-(48)(10,002)(12,003)-

0(25,629)(27,868)

284

591

Net increase (decrease) in cash and cash equivalents

1,741

2,277

Cash and cash equivalents at beginning of period

30,63932,380Cash and cash equivalents at end of period

32,38034,65815

(5) Notes to Consolidated Financial Statements(Notes on Assumption of Going Concern)
Not applicable.

(Changes in Accounting Policies)(Application of "Accounting Standard for Revenue Recognition," etc.)

The Company adopted "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, revised on March 31, 2020) and other standards,
and applied accounting policy to recognize revenue with the amounts expected to be received in exchange for the promised goods or services as the controlof such goods or services are transferred to the customer at the beginning of the first quarter of FY 2021.
Major changes due to the adoption of Accounting Standard for Revenue Recognition are as follows:(1)Recognition of revenue related to agent transactions
For transactions where the Company s role in providing the product to the customer is fulfilled by an agent, the method of revenue recognition
has been changed to one in which the net amount after the amount paid to the supplier is deducted from the amount received from the customer is recognized
as revenue.
(2)Variable consideration
For transactions which include variable consideration in consideration, the Company includes such variable consideration within the transaction priceto the extent that it is highly probable that a significant reversal of previously recognized cumulative revenue will not occur when the uncertainty issubsequently resolved.
(3)Granting of license
As revenue for granting license, income from licensing was previously recognized upon deposit. However, if the nature of the covenant to granta license of the customer is the right to access the intellectual property rights over the term of the license, revenue is recognized over a certain period of time,and if the right to use the intellectual property at the time the license is granted, revenue is recognized at one point.
The application of such changes in accounting policies follows the transitional treatment prescribed in the proviso of paragraph 84 of Accounting Standard
for Revenue Recognition, such that the new accounting policy was applied from the beginning balance of retained earnings of the first quarter of FY 2021
to add to or deducted from the amount of beginning balance of retained earnings of the first quarter of FY 2021 the cumulative effects of applying
retrospectively the new accounting policy from the first quarter of the fiscal year ending March 31, 2022. The method prescribed in paragraph 86 of
Accounting Standard for Revenue Recognition was applied, however, with no retrospective application of the new accounting policy to the contract which arethat almost all amounts of revenues have been recognized in accordance with the prior treatments before the beginning of the first quarter of FY 2021.
In addition, applying the method prescribed in the proviso (1) of paragraph 86 of Accounting Standard for Revenue Recognition, for the contracts
which have been modified before the beginning of the first quarter of FY 2021, the cumulative effect is added to or deducted from the beginning balance ofthe retained earnings of the first quarter of FY 2021, based on the terms of the contracts that have been reflected all modifications in the contracts.
As a result, in the fiscal year ending March 31, 2022, net sales decreased by 22,885 million yen, cost of sales decreased by 22,807 million yen
while Operating income, Ordinary income and income before taxes and non-controlling interests decreased 77 million yen.
Also, the balance of retained earnings at the beginning of fiscal year ending March 31, 2022 decreased by 1,548 million yen.
(Application of "Accounting Standard for Fair Value Measurement," etc.)
The company adopted "Accounting Standard for Fair Value Measurement"(ASBJ Statement No.30, July 4, 2019) and other standards from the firstquarter of the fiscal year ending March 31, 2022. Based on the transition treatment prescribed in Paragraph 19 of "Accounting Standard for Fair Value
Measurement" and Paragraph 44-2 of "Accounting Standard for Financial Instruments" (ASBJ Statement No.10, July 4 2019), we have decided to apply
the new accounting policies set forth by "Accounting Standard for Fair Value Measurement" into the future. These changes had no impact on
the quarterly consolidated financial statements.

16

(Segment and Related Information)
Segment Information
1. General Information about reportable segments
The Company's reportable segments are components of the Group that engage in business activities, whose operating results are regularly
reviewed by the Board of Directors when making resource allocation and performance assessment decisions, and for which discrete financial
information is available.
Divisions by products and services are located in the headquarters, and each division works out a comprehensive strategy applicable to theirproducts and services and carries out their business activities.
The Company consists of segments based on divisions as follows:
Main Products

Segment

Basic chemicals (melamine, sulfuric acid, nitric acid, ammonia, etc.)
Chemicals

Fine chemicals (epoxy compound for LED sealants, solder resist and painting,flame retardants, chlorinated cyanuric acid for sterilizing, etc.)

Performance
Materials
Agricultural Chemicals
Pharmaceuticals

Display materials (LCD alignment coating, etc.)
Semiconductor materials (bottom anti-reflective coating for semiconductors, etc.)
Inorganic materials (hard coating materials, electronic information materials, polishing materials, etc.)
Agrochemicals (herbicides, insecticides, fungicides, combination fungicide and insecticide, and plant growth regulators)
Animal health products
LIVALO (anti-cholesterol drug), etc.
Custom Chemicals (custom manufacturing and solution proposal business for pharmaceutical companies)

Trading

Trading, etc.

OthersFertilizer, landscaping, transportation, engineering, etc.

2. Basis of measurement of reported segment income or loss, segment assets and other material items
The accounting policies for the reportable segments are consistent with the Company's accounting policies used in the preparationof its consolidated financial statements. Intersegment sales and income (loss) are recognized based on current market prices.

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3. Information Regarding Sales, Income (Loss), and Segment Assets of Reportable Segments
1) For the Year Ended March 31, 2021 (From April 1, 2020 to March 31, 2021)
Performance Agricultural
Chemicals
Materials
Chemicals(Million yen)Pharmaceuticals

Trading

Others

Total

Adjustment(Note)

Consolidated
Total
209,121

Sales
Customers

21,86762,60057,541

6,609

50,833

9,657

209,109

12

Intersegment

10,041

9,047

6,306

43

18,987

14,10658,533(58,533)

Total sales

31,90871,64863,848

6,652

69,82023,763

267,642(58,521)

Operating income (loss)

1,482

22,41618,202

357

2,498

831

45,790(3,260)42,530

Segment assets

30,76351,014

82,822

9,646

26,205

12,789213,241

52,268265,509

2,241

4,477

2,527

517

80

311

10,155

191

10,346

209,121

Other items
Depreciation andamortization

Amortization of goodwill
1
Increase of property,
4,903
plant and equipment
and intangible assets(Note) The adjustments are as follows:

77
3,174

78

6,426

475

137

388

78

15,504296

15,800(1) The (3,260) million yen adjustment in segment income includes 33 million yen in intersegment eliminations, 12 million yen sales
not attributable to any reporting segment, and (3,305) million yen corporate expenses not attributable to any reportable segment.
The corporate expenses are mainly group administrative expenses which do not belong to segments.
(2) The 52,268 million yen adjustment in segment assets includes (12,958) million yen in intersegment eliminations and 65,226
million yen in corporate assets not attributable to any reportable segment. The corporate assets are mainly group administrative assets which
do not belong to segments.
(3) The 191 million yen adjustment in depreciation and amortization is corporation expenses.
(4) The 296 million yen adjustment in increase of property, plant and equipment and intangible assets is corporate assets. The corporate assets
are mainly group administrative assets which do not belong to segments.
2) For the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)
Performance Agricultural
Chemicals
Materials
Chemicals(Million yen)Pharmaceuticals

Trading

Others

Total

Adjustment(Note)

Consolidated
Total
207,972

Sales
Customers

26,032

69,66457,965

6,580

59,644

10,877

230,764(22,792)

Intersegment

11,61512,0007,853

49

20,792

12,71765,031(65,031)-

Total sales

37,64881,66565,8196,630

80,437

23,595295,795(87,823)

207,972

Operating income (loss)

3,796

27,71918,338

947

2,903

692

54,398(3,438)50,959Segment assets

32,101

55,13390,6589,157

31,48912,175

230,715

48,972

279,687

2,547

3,860

2,563

541

73

299

9,886

233

10,119Other items
Depreciation andamortization

Amortization of goodwill
1
Increase of property,
2,338
plant and equipment
and intangible assets(Note) The adjustments are as follows:

101
5,725

1,472

103
651

20

614

10,823103

127

10,951(1) The (22,792) million yen adjustments in sales to outside customers includes (22,807) million yen elimination of agent transactions due to theadoption of Accounting Standard for Revenue Recognition, and 15 million yen sales not allocated to any reporting segments.
(2) The (3,438) million yen adjustment in segment income includes (72) million yen in intersegment eliminations, 15 million yen sales
not attributable to any reporting segment, and (3,381) million yen corporate expenses not attributable to any reportable segment.
The corporate expenses are mainly group administrative expenses which do not belong to segments.
(3)

The 10,877 million yen others in sales to outside customers

includes 0 million yen cost-recovery method due to the adoptionof Accounting Standard for Revenue Recognition.
(4) The 48,972 million yen adjustment in segment assets includes (14,985) million yen in intersegment eliminations and 63,958
million yen in corporate assets not attributable to any reportable segment. The corporate assets are mainly group administrative assets which
do not belong to segments.
(5) The 233 million yen adjustment in depreciation and amortization is corporation expenses.
(6) The 127 million yen adjustment in increase of property, plant and equipment and intangible assets is corporate assets. The corporate assets
are mainly group administrative assets which do not belong to segments.

4.Matters Related to Changes in Reportable Segments
beginning of the first quarter of FY 2021.Accordingly, the accounting method for revenue recognition has been changed, and the method for calculating
profit or loss in our business segments has been changed as well.
As a result of this change, net sales and segment income in the "Agricultural Chemicals" segment for the current fiscal year decreased by 78 million
yen, and net sales in the "Others" segment for the current fiscal year increased 0 million yen, compared with the previous method.

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Related Information
For the Year Ended March 31, 2021(From April 1, 2020 to March 31, 2021)
Sales by region

Japan

China

108,443

26,476

Korea

21,481Other Asia

25,175(Million yen)
Europe andConsolidated
the United
Total
States27,554

209,121

Note: Sales are classified to either countries or regions based on customers are located.
For the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)
Sales by region

Japan

China

99,16730,191

Korea

21,395

Other Asia

28,678(Million yen)
Europe andConsolidated
the United
Total
States28,537

207,972

Note: Sales are classified to either countries or regions based on customers are located.

Information regarding impairment loss on non-current assets by reportable segments
For the Year Ended March 31, 2021 (From April 1, 2020 to March 31, 2021)
Performance
Materials

Chemicals

Agricultural
Chemicals

Pharmaceuticals

Trading

Others

Total

11

Impairment loss

Adjustment(Million yen)
Consolidated
Total

11

11

For the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)
Performance
Materials

Chemicals

Impairment loss

Agricultural
Chemicals

Pharmaceuticals

Trading

Others

Total

9

775

(Million yen)
Consolidated
Adjustment
Total

784

784

Information regarding amortization and unamortized balance on goodwill by reportable segments
For the Year Ended March 31, 2020 (From April 1, 2020 to March 31, 2021)
Performance
Materials

Chemicals

Balance as ofMarch 31, 2021

Agricultural
Chemicals

Pharmaceuticals

Trading

Others

Total

404

1

Adjustment

406(Million yen)
Consolidated
Total

406

For the Year Ended March 31, 2022 (From April 1, 2021 to March 31, 2022)
Chemicals

Balance as ofMarch 31, 2022

Performance
Materials

Agricultural
Chemicals

Pharmaceuticals

Trading

303

Others

Total

Adjustment

303

19

(Million yen)
Consolidated
Total

303

(Per Share Information)
Year Ended March 31, 2021

(Yen)
Year Ended March 31, 2022

Net assets per share

1,384.13

1,454.01

Net income per share

231.73271.88Notes:
1. Since residual securities do not exist, diluted net income per share is not presented.
and has recorded the shares held by the Trust as treasury shares in the consolidated financial statements.
Accordingly, for the purpose of calculating net assets per share, the shares held by the Trust (included in treasury shares) are
deducted from the number of shares outstanding at the end of the period.
In addition, for the purpose of calculating net income per share, the shares held by the Trust are
deducted in calculating the average number of shares outstanding during the period.
The number of shares held by the Trust at the end of the priod was 164,000 shares,
and the average number of shares held by the Trust during the period was 164,275 shares.
3. Net income per share is calculated on the following basis.
Year Ended March 31, 2021

Year Ended March 31, 2022

Net income per share
Net income attributable to owners of parent (Million yen)

33,47038,776

Amounts not allocated to ordinary shares (Million yen)
Net income allocated to ordinary shares (Million yen)
Average number of ordinary shares
outstanding during each year (shares)

33,47038,776

144,438,465

142,624,319

4. Net assets per share is calculated on the following basis.
Year Ended March 31, 2021
Net asset (Million yen)

Year Ended March 31, 2022

200,562

208,009

Amount deducted from net asset (Million yen)

1,733

2,097

(Non-controlling interest) (Million yen)
Net asset as of year end allocated toordinary shares (Million yen)
Number of ordinary shares as of year
end used to calculate net asset per share(1,733)(2,097)

198,828

205,912

143,648,112

141,616,389(Significant Subsequent Events)of the Japanese Corporation Act.
(1) Class of shares to be cancelled :Common shares of company(2) Number of shares to be cancelled :1,000,000 shares (0.70% of issued shares prior to cancellation)(3) Scheduled date of cancellation :May 10, 2022

Reference
Number of issued shares subsequent to cancellation (including treasury shares) : 142,000,000 shares

under Article 156 of the Japanese Corporation Act, as applied pursuant to Article 165, Paragraph 3 of the same Act.
(1) Purpose of repurchaseTo facilitate flexible implementation of capital policy in response to changes in the business environment.
(2) Details of repurchase
Class of shares:
Total number of shares:

Common shares of the company
Up to 1,000,000 shares (Rate of the maximum shares to be acquired
to the total outstanding shares: 0.71%)(3)Total amount(4)Period of repurchase

Up to 5,000,000,000 yen
From May 16, 2022 to July 29, 2022

Reference
Number of treasury shares as of May 10, 2022
Total number of shares issued (excluding treasury shares): 141,780,320 shares
Number of treasury shares:
219,680 shares* Not including 159,300 shares of treasury shares which the Board Benefit Trust (BBT) has hold.

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