Table of Contents for Attached Materials
1. Qualitative Information on Quarterly Results(1) Business Performance(2) Financial Position........................................................................................................ 2.............................................................................................................................. 2..................................................................................................................................... 4(3) Outlook of Consolidated Financial Results and Other Forward-looking Information .................................................... 4(4) Basic Policy on Distribution of Earnings
2. Consolidated Financial Statements......................................................................................................... 5................................................................................................................... 6(1) Consolidated Balance Sheets ...................................................................................................................... 6(2) Consolidated Statements of Income / Consolidated Statements of Comprehensive Income ......................................... 8(3) Consolidated Statements of Cash Flows.......................................................................................................10(4) Notes to Consolidated Financial Statements..................................................................................................11(Notes on Assumption of Going Concern).................................................................................................11(Notes on Significant Changes in Shareholders' Equity)................................................................................ 11(Changes in Accounting Policies) ............................................................................................................ 11(Segment Information).........................................................................................................................12(Significant Subsequent Events) ...................................................................................................................... 121

1 Qualitative Information on Quarterly Results(1) Business Performance
During the third quarter of the current fiscal year (April 1, 2021 to December 31, 2021), the domestic economy showed signs of recovery
toward the end of the period, mainly in personal consumption. However it failed to achieve a full-fledged recovery as a result of sluggish domestic
consumption and exports, mainly due to the spread of the COVID-19 and reduced automobile production caused by parts supply shortages.
Under these circumstances, sales of Basic Chemicals and Fine Chemicals increased in the Chemicals Segment. In the Performance Materials
Segment, Display Materials, Semiconductor Materials and Inorganic materials performed well. In the Agricultural Chemicals Segment, sales
increased. In the Pharmaceuticals Segment, although sales of drug discovery decreased, sales of "Custom Chemicals" (custom manufacturing
and process researching services for pharmaceutical companies) increased.
As a result, business performances for this period were as follows. Sales and each income exceeded the same period of previous fiscal year
and the outlook announced in November. In addition, operating income, ordinary income, and net income attributable to owners of the parent
achieved record highs.
3Q FY2020(Million yen, amount rounded down to the nearest million yen)
3Q FY2021
Change from3Q FY2021
Change(Outlook)
Outlook

Sales

138,228

141,337+3,109138,500+2,837

Operating income

23,62033,935+10,31430,700+3,235

Ordinary income

24,02635,779+11,753

32,100+3,679Net income attributableto owners of parent

18,39725,640+7,24323,600+2,040Notes: (1) The outlook is described on page 9 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)(2) There was an error in net income attributable to owners of parent in the outlook for the third quarter. The figure changed
from 25,100 million yen to 23,600 million yen after the revision. The figure after the revision is used for comparison
with the outlook.
(3) Regarding the acquisition of the Mancozeb Fungicide Product Line from Corteva, Inc. on December 18, 2020,
provisional accounting was applied during the third quarter of previous consolidated fiscal year, though it was finalized
at the end of the previous consolidated fiscal year. As a result, the figures of operating income, ordinary income, andincome before income taxes and non-controlling interests increased by 59 million yen, while net income and net
income attributable to owners of parent increased by 43 million yen by the recalculation of the third quarter of previous
consolidated fiscal year. The determined amount is used for the comparison and analysis with the preceding
consolidated fiscal year.
The Company adopted "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, revised on March 31, 2020) andother standards from the first quarter of the fiscal year ending March 31, 2022. For supplemental information, please refer to[2.Consolidated Financial Statement (4) Notes to Consolidated Financial Statements "(Changes in Accounting Policies)"] on page 10.
Explanations by segments are as below.
The Chemicals Segment
In Basic Chemicals, sales of melamine (adhesives agent for particle board) and high purity sulfuric acid (agent used for cleaning
semiconductor) increased. In Fine Chemicals, sales of "TEPIC" (powder coating agent for paint, sealants, etc.) and cyanuric acid (rawmaterial for sterilizing and disinfecting agents) of environmental chemicals also performed well.
As a result, sales of this segment were 27,557 million yen (an increase of 4,527 million yen) and operating income was 2,464 million
yen (an increase of 1,890 million yen). Compared to the outlook (Note), sales were above 0.9 billion yen and operating income wasabove 0.3 billion yen.
(Note) The outlook is described on page15 and 16 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)

2

The Performance Materials Segment
In Display Materials, sales of "SUNEVER" (LCD alignment coating) for notebook PCs and monitors performed well. In Semiconductor
Materials, sales of anti-reflective coating for semiconductors (ARC®*) and multilayer materials (OptiStack®*) increased, reflecting favorable
operation by customers. In Inorganic materials, sales of "SNOWTEX" for polishing electronic materials and hard coating, and Organo /Monomer sol (various kinds of coating materials, resin additive) were steady. Sales of Oilfield materials (for enhancing oil recovery) decreased.
As a result, sales of this segment were 60,515 million yen (an increase of 6,698 million yen) and operating income was 20,783 million yen (anincrease of 3,775 million yen). Compared to the outlook (Note), sales were above 0.4 billion yen and operating income was above 1.0 billion
yen.
(Note) The outlook is described on page 15 and 16 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)* ARC®, OptiStack® are registered trademarks of Brewer Science, Inc.
The Agricultural Chemicals Segment
Due to adoption of "Accounting Standard for Revenue Recognition" from FY2021, the frequency of royalty appropriation doubled from every
6 months to every quarters, resulting in sales increase of Fluralaner (active ingredients for veterinary pharmaceuticals). In Japanese domestic
market, sales of "ROUNDUP" (non-selective leaf treatment herbicide) were firm, but shipments of "ALTAIR" (paddy rice herbicide) and"GRACIA" (insecticide) declined. In overseas market, sales of "GRACIA" decreased, but sales of "QUINTEC" (fungicide), "TARGA" (herbicide)and "SANMITE" (insecticide and acaricide) performed well. In addition, "DITHANE" (fungicide), which was acquired in the third quarter of
FY2020, contributed to sales both domestically and overseas.
As a result, sales of this segment were 36,880 million yen (an increase of 4,929 million yen) and operating income was 10,073 million yen (anincrease of 3,577 million yen). Compared to the outlook (Note), sales were above 0.7 billion yen and operating income was above 1.1 billion
yen.
(Note) The outlook is described on page 15 and 16 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)
The Pharmaceuticals Segment
Sales of "LIVALO" (anti-cholesterol drug) increased in Japan, but decreased overseas due to the impact of increased sales of genericdrugs. In "Custom Chemicals", sales of active pharmaceutical ingredients (generic) increased.
As a result, sales of this segment were 5,263 million yen (an increase of 842 million yen) and operating income was 892 million yen(an increase of 899 million yen). Compared to the outlook (Note), sales were above 0.1 billion yen and operating income was above
0.1 billion yen.
(Note) The outlook is described on page 15 and 16 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)
Trading
Sales of this segment were 58,623 million yen (an increase of 7,148 million yen) and operating income was 2,136 million yen (anincrease 224 million yen). Compared to the outlook (Note), sales were above 2.2 billion yen and operating income was above 0.2
billion yen.
(Note) The outlook is described on page 15 and 16 of the 2Q FY2021 Presentation Materials (announced on November 11, 2021)
OthersSales of this segment were 16,484 million yen (an increase of 334 million yen) and operating income was 193 million yen (a decrease of 200
million yen).

3(2) Financial Position(Position of Assets, Liabilities and Net Assets)
Total assets as of December 31, 2021 was 254,735 million yen (a decrease of 10,774 million yen from March 31, 2021). It is mainly due tothe decrease of notes and accounts receivable - trade.
Also, total liabilities as of December 31, 2021 was 55,355 million yen (a decrease of 9,591 million yen). It is mainly due to the decrease of
short-term loans payable.
Net assets as of December 31, 2021 was 199,379 million yen (a decrease of 1,182 million yen).
As a result of these factors, equity ratio was 77.5% (an increase of 2.6% from March 31, 2021).
(Position of Cash Flow)
Deducting income taxes paid from income before income taxes and non-controlling interests, depreciation and gain and loss on working
capital, net cash provided by operating activities for the nine months ended December 31, 2021 was 35,008 million yen (34,617 million yen
for the same period of the previous year).
Due to the investment on plant and equipment, net cash used in investing activities for the nine months ended December 31, 2021 was
6,781 million yen (10,857 million yen).
Due to the decrease in loans payable, payment for dividends and share repurchase, net cash used in financing activities for the nine months
ended December 31, 2021 was 35,505 million yen (33,835 million yen).
As a result of these factors, cash and cash equivalents at the end of this period was 25,155 million yen, reflecting exchange of 52 million yen.
It decreased by 7,225 million yen from March 31, 2021 (20,575 million yen).

(3) Outlook of Consolidated Financial Results and Other Forward-looking Information
Outlook for the year ending March 31, 2022 was revised as follows based on the cumulative third quarter and demand outlook. For
the exchange rate of the fourth quarter, it is assumed that 1 U.S. dollar is 107 yen.
year ending March 31, 2022 (April 1, 2021 to March 31, 2022)(Billion yen, amounts rounded to the nearest billion yen)
(Reference)
Increase or
RevisedRate of change
decrease
Results
for theoutlook(B)
(%)
(B-A)
previous fiscal year

Previous
outlook(A)Net sales

205.5

208.3

+2.8

+1.4%

209.1

Operating income

47.4

50.0

+2.6

+5.5%

42.5

Ordinary income

48.8

51.8

+3.0

+6.1%

43.9

Net income attributable toowners of parent

36.4

37.3

+0.9

+2.5%

33.5

Basic earnings per share

255.10 yen

261.60 yen+6.50 yen

+2.5%

231.73 yen

Revision of consolidated net sales and operating income outlook for the year ending March 31, 2022
(Billion yen, amounts rounded to the nearest billion yen)
Net sales
Operating income
Previous

RevisedPrevious

RevisedChemicals

36.4

37.3

2.9

3.2

Performance Materials

80.9

81.3

26.3

27.3

Agricultural Chemicals

65.8

66.5

18.2

19.3

Pharmaceuticals

6.3

6.4

0.5

0.6

Trading

75.1

77.3

2.3

2.5

Others

23.5

24.3

0.6

0.7

Adjustment(82.5)(84.8)

(3.4)

(3.6)

Total

205.5

208.3

47.4

50.0

4

(4) Basic Policy on Distribution of Earnings
venue in themedium and long terms.
In medium-Stage II launched from April 2019, the company aims to realize dividend payout ratio to be 45%

and total payout ratio to be 75% after FY2019.

5

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

As ofDecember 31, 2021

AssetsCurrent assets
Cash and deposits

32,38025,155

Notes and accounts receivable - trade73,93760,583Merchandise and finished goods

33,774

41,812

23

195

Raw materials and supplies

12,853

16,139

Other

6,650

7,156

(31)

(37)

159,588

151,006

Buildings and structures, net

24,837

24,415

Other, net

27,00027,436

Total property, plant and equipment

51,83751,852

548

748

Other

11,581

11,103

Total intangible assets

12,12911,85235,89430,826

2

3,324

Other

6,167

5,984

Allowance for doubtful accounts

(110)

(110)

Total investments and other assets

41,95340,024Work in process

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
SoftwareInvestments and other assets
Investment securities
Long-term loans receivable

Total non-current assets
Total assets

6

105,921103,728

265,509

254,735

(Million yen)
As ofMarch 31, 2021

As ofDecember 31, 2021

Liabilities
Current liabilities
Notes and accounts payable - trade16,29819,584

Short-term loans payable

21,489

8,882

Income taxes payable

7,113

3,360

Provision for bonuses

2,250

717

7

-

Other

12,585

17,137

Total current liabilities

59,744

49,682

1,184

963

171

1,060

-

626

Provision for share-based remuneration for directors (and other o

91

130

Net defined benefit liability

249

277

Provision for directors' bonuses

Non-current liabilities
Long-term loans payable
Provision for business structure improvement
Provision for loss on business of subsidiaries and affiliates

Other

3,506

2,614

Total non-current liabilities

5,202

5,673

64,94755,355

Capital stock

18,942

18,942

Capital surplus

13,613

13,613Retained earnings

161,708

159,257

Treasury shares(7,340)(3,261)

Total shareholders' equity

186,923

188,552

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive income
11,3598,301

Foreign currency translation adjustment

Valuation difference on available-for-sale securities

81

148

Remeasurements of defined benefit plans

463

418

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

7

11,904

8,868

1,733

1,958

200,562

199,379

265,509

254,735

(2) Consolidated Statements of Income / Consolidated Statements of Comprehensive Income- Consolidated Statements of Income(Million yen)
Nine Months Ended
December 31, 2020

Nine Months Ended
December 31, 2021

Net sales

138,228

141,337

Cost of sales

81,60570,895Gross profit

56,62370,441

Selling, general and administrative expenses

33,00236,506

Operating income

23,62033,935Non-operating income
Interest income

1131

Dividend income

696

521

Equity in earnings of affiliates

432

840

Foreign exchange gains
Other
Total non-operating income

-

309

449

712

1,590

2,415

Non-operating expenses
Interest expenses

55

55

Loss on disposal of non-current assets

426

386

Plant stop losses

50

40

Foreign exchange losses

450

-

Other

201

89

1,185

571

24,02635,779Gain on sales of investment securities

1,057

3,316

Total extraordinary income

1,057

3,316

Total non- operating expenses
Ordinary income
Extraordinary income

Extraordinary losses
Loss on valuation of investment securities-

298

Business structure improvement expenses

-

2,165

Loss on business of subsidiaries and affiliates

-

626

-

3,090

Income before income taxes and non-controlling interests

Total extraordinary losses

25,08336,005

Income taxes - current

6,068

9,205

Income taxes - deferred

606

881

Total income taxes

6,675

10,087

Net income

18,40825,91811277

18,39725,640Net income attributable to non-controlling interests
Net income attributable to owners of parent8

- Consolidated Statements of Comprehensive Income(Million yen)

Net income

Nine Months Ended
December 31, 2020

Nine Months Ended
December 31, 2021

18,40825,9183,003(3,057)

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

572

62

Remeasurements of defined benefit plans, net of tax

5

(45)

Share of other comprehensive income of entities accounted forusing equity method

1(0)Total other comprehensive income
Comprehensive income

3,583(3,040)21,991

22,877

21,91722,60474

273(Comprehensive income attributable to)
Owners of parent
Non-controlling interests9(3) Consolidated Statements of Cash Flows(Million yen)
Nine Months Ended
December 31, 2020

Nine Months Ended
December 31, 2021

Income before income taxes and non-controlling interests

25,08336,005

Depreciation and amortization

7,455

7,218

Business structure improvement expenses

-

2,165

Loss on business of subsidiaries and affiliates-

626

Loss on valuation of investment securities-

298

Amortization of goodwill

53

77

Cash flows from operating activities

Interest and dividend income
Loss (gain) on sales of investment securities
Interest expenses
Loss (gain) on disposal of non-current assets

(708)

(553)

(1,058)(3,316)

55

55

426

386

Decrease (increase) in notes and accounts receivable - trade25,432

13,375Decrease (increase) in inventories(10,680)(11,628)

316

3,275

Other

(2,211)(1,303)

Subtotal

44,164

46,683

Interest and dividend income received

1,268

1,180

Increase (decrease) in notes and accounts payable - trade

Interest expenses paid

(52)

(55)

Income taxes paid

(10,763)(12,799)

Net cash provided by (used in) operating activities

34,61735,008Cash flows from investing activities
Purchase of investment securities

(115)

(129)

Proceeds from sales of investment securities

2,308

4,174

Purchase of shares of subsidiaries

(302)

(19)

(6,048)(6,229)Payments for retirement of property, plant and equipment

(379)

(325)

Purchase of intangible assets

(388)

(897)

(5,384)-Purchase of property, plant and equipment

Payments for transfer of business
Payments of long-term loans receivable-(3,322)

Net decrease (increase) in short-term loans receivable

(390)

(184)

Purchase of long-term prepaid expenses

(214)

(97)

59

250

(10,857)(6,781)(12,884)(12,708)

Other
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Cash dividends paid
Dividends paid to non-controlling interests
Share repurchase
Other

(320)

(276)

(13,629)(15,468)-(48)(7,001)(7,003)-0(33,835)(35,505)

12

52

Net increase (decrease) in cash and cash equivalents(10,063)(7,225)

Cash and cash equivalents at beginning of period

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

20,57525,155

Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents10(4) Notes to Consolidated Financial Statements(Notes on Assumption of Going Concern)

Not applicable.
(Notes on Significant Changes in Shareholders' Equity)
The Company made a stock payment of 1,000 shares to the eligible party on April 23, 2021 based on the trust agreement of the Board
Benefit Trust (BBT) resolved by the Board of Director's meeting on July 30, 2019. In addition, the Company made a stock payment of 800 shares to the eligible

party on July 21, 2021. As a result, treasury shares decreased by 8 million yen during the third quarter of current consolidated fiscal year. Also, the Company
canceled 1,000,000 treasury shares on May 10, 2021 based on the resolution of Board of Directors' meeting held on April 23, 2021. Furthermore, the Company

canceled 1,000,000 treasury shares on August 31, 2021 based on the resolution of Board of Directors' meeting held on August 24, 2021. As a result, retained
earnings and treasury shares decreased by 11,074 million yen during the third quarter of current consolidated fiscal year.
In addition, the Company repurchased 1,261,600 treasury shares based on the resolution of Board of Directors' meeting held on May 14, 2021.
As a result, treasury shares increased by 6,999 million yen during the third quarter of current consolidated fiscal year.
(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 third quarter of the fiscal year ending March 31, 2022, net sales decreased by 12,648 million yen, cost of sales decreased by
15,710 million yen while Operating income, Ordinary income and income before taxes and non-controlling interests increased 3,062 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.

11

(Segment Information)
1. For the Nine Months Ended December 31, 2020 (From April 1, 2020 to December 31, 2020)
1) Information Regarding Sales, Income (Loss) of Reportable Segments
Chemicals

Performance
Materials

Agricultural
Chemicals(Million yen)Pharmaceuticals

Trading

Others

Total

Adjustments(1)

Consolidated
Total

Sales
Sales to outside customers

15,75347,16527,917

4,377

37,251

5,760

138,226

2

Intersegment Sales

7,276

6,651

4,033

43

14,223

10,38942,617(42,617)-

23,02953,817

31,951

4,420

51,474

16,150180,843(42,614)138,228574

17,008

6,496

(6)

1,911

393

26,377(2,757)

23,620

Total
Segment Profit or Loss
(Operating Income or Loss)

138,228

Note: The (2,757) million yen adjustments in segment profit includes (261) million yen in intersegment eliminations, 2 million yen sales not allocated to any
reporting segments, and (2,498) million yen corporate expenses not allocated to any reportable segments.
The corporate expenses are mainly group administrative expenses which do not belong to segments.
2) Information on impairment loss, goodwill, etc. on non-current assets by reportable segment(Major change in goodwill)
With the acquisition of the Mancozeb Fungicide Product Line from Corteva, Inc. in the Agricultural Chemicals segment, provisional accounting
was applied during the third quarter of current consolidated fiscal year. However, it was finalized at the end of the current consolidated
fiscal year. As a result, goodwill of 5,384 million yen, which was provisionally calculated for this reason during the third quarter of current
consolidated fiscal year, decreased by 5,200 million yen to 184 million yen due to the finalization of this accounting treatment.
2. For the Nine Months Ended December 31, 2021 (From April 1, 2021 to December 31, 2021)
1) Information Regarding Sales, Income (Loss) of Reportable Segments
Chemicals

Performance
Materials

Agricultural
Chemicals(Million yen)Pharmaceuticals

Trading

Others

Total

Adjustments(1)(2)

Consolidated
Total

Sales
Sales to outside customers

19,05151,502

31,956

5,228

42,8297,123

157,692(16,354)

Intersegment Sales

8,505

9,013

4,924

35

15,7939,360

47,632(47,632)

141,337-

Total

27,55760,51536,8805,263

58,623

16,484205,324(63,986)

141,337

Segment Profit or Loss
(Operating Income or Loss)

2,464

20,783

10,073

892

2,136

193

36,544(2,609)33,935

Notes: (1) The (16,354) million yen adjustments in sales to outside customers includes (16,369) million yen elimination of agent transactions due to the adoptionof Accounting Standard for Revenue Recognition, and 15 million yen sales not allocated to any reporting segments.
(2) The (2,609) million yen adjustments in segment profit includes (68) million yen in intersegment eliminations, 15 million yen sales not allocated to any
reporting segments, and (2,555) million yen corporate expenses not allocated to any reportable segments. The corporate expenses are mainly group
administrative expenses which do not belong to segments.
2) 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 first nine months of the current fiscal year increased by
3,062 million yen, compared with the previous method.
(Significant Subsequent Events)

The Company, at the board of Director's meeting held on February 4, 2022, has decided to repurchase its shares in the market
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(1) Class of shares: Common shares of the company(2) Total number of shares: Up to 1,000,000 shares(3) Total amount: Up to 5,000,000,000 yen(4) Period of repurchase: From February 7, 2022 to April 28, 2022

(0.70% of total shares outstanding, excluding treasury shares)(For reference) Number of treasury shares as of December 31, 2021
Total number of shares issued (excluding treasury shares) : 142,551,744 shares

Number of treasury shares:

448,256 shares* Not including 164,000 shares of treasury shares which the Board Benefit Trust (BBT) has hold.

12