Financial Results
Briefing for the
Fiscal Year Ended
March 31, 2023

SEIKA CORPORATION(TSE Prime Market: 8061)

Dear every stakeholders, first of all, I would like to express mysincere appreciation to you all, for your continuous interest in
SEIKA CORPORATION.
I am Akihiko Sakurai, President of SEIKA CORPORATION.
Thank you for joining us for the financial results briefing and for yourcontinued interest in SEIKA CORPORATION.
We have decided to hold the financial results briefing for the fiscal
year ended March 31, 2023 and also to post a video of the briefing
at a later date.
I hope that this briefing and video presentation will give you a better
understanding of SEIKA CORPORATION.
Now I will start the proceedings.

CONTENTS
01

02

03

Summary of Consolidated
Financial Results for the Fiscal
Year Ended March 31, 2023

TopicsConsolidated Forecast
for the Fiscal Year Ending
March 31, 2024

04

05

Issues to be
Addressed

New Medium-Term
Management Plan
VIORB2030 Phase1

Reference Materials

2

In this financial results presentation, I plan to explain the mattersshown here in this slide.

01
Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023

3

Now let me start with the summary of consolidated financial results
for the fiscal year ended March 31, 2023.

Summary of Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
2022/3 Result

2023/3 Result

Change (YoY)

Transaction value

134.26 billion yen

175.74 billion yen+30.9 %Net sales

85.31 billion yen

93.31 billion yen+9.4 %

Operating income

3.82 billion yen

4.64 billion yen+21.2 %

Ordinary income

3.88 billion yen

6.29 billion yen+62.0 %

Profit attributable toowners of parent(adjusted profit *)2.25 billion yen

5.00 billion yen+122.6 %(2.8)* Including negative goodwill of 1.71 billion yen, adjusted profit excluding transient factors was 2.8 billion yen.

Amount of orders
received

83.14 billion yen

90.25 billion yen

7.11 billion yen

Order backlog

58.76 billion yen

55.69 billion yen-3.07 billion yen
4Please look at slide 4.
This shows a summary of the consolidated financial results.
In circumstances that remained uncertain with the COVID-19
pandemic, the soaring prices of resources and raw materials and the
sharp depreciation of the yen, we posted:
Transaction value of 175.74 billion yen,
Net sales of 93.31 billion yen,operating income of 4.64 billion yen,ordinary income of 6.29 billion yen, andProfit of 5 billion yen.
Ordinary income and profit increased significantly due to gains on
the sale of cross-held shares and the recording of negative goodwill
associated with the acquisition of TVE Co., Ltd.
Regarding orders:
Orders received amounted to 90.25 billion yen andthe order backlog stood at 55.69 billion yen.

Business Summary by Segment (Net Sales and Income)Power Plant(In million yen)

Net sales

Segment income

1,192

1,319

15,46911,3632022/3Result2023/3ResultIncrease in the number of projects due
to newly constructed power plants in the
Sanin area
2022/3Result2023/3ResultChemicals and Energy Plant
Net sales

22,261

Promotion of sales transactions topower plants in the Hokuriku area
contributed to business results(In million yen)Segment income

26,4251,183745

2022/3ResultStrong results in negotiations overfacility maintenance for powercompanies in the West Japan area

2023/3Result2022/3ResultMajor projects to newly install or update
in-house power generating facilities forcompanies including major steel, oil
refining, chemical and paper companies
contributed to business results.

2023/3Result5

Next, I will report on results in terms of net sales and income bysegment.
In the Power Plant business, both net sales and segment income
increased, reflecting an increase in negotiations over facility
maintenance for power companies in West Japan area, an increase inprojects connected with the construction of new power plants in the
Sanin area, and the promotion of sales transactions to power plants in
the Hokuriku area.
In the Chemicals and Energy Plant business, major projects for inhouse power generating equipment and other facilities for companies
including major steel, oil refining, chemical and paper companies
contributed to the results, leading to a rise in net sales and segment
income.

Business Summary by Segment (Net Sales and Income)Industrial Machinery
Net sales(In million yen)Segment income

1,691

39,62935,191

Large projects drove sales, including
film manufacturing equipment for major
manufacturers and the new constructionof plants for producers of health foods.

1,1432022/3Result2023/3Result2022/3Result2023/3ResultGlobal BusinessNet sales

16,4902022/3ResultNippon Daiya Valve Co., Ltd. performed
strongly.

(In million yen)Segment income

11,787733

2023/3Result2022/3ResultThe Tsurumi (Europe) GmbH Group's
results had a positive impact.

489
2023/3ResultPerformance was negatively affected toa significant degree by restrictions onsales activities and delayed projects in
China and Southeast Asia during the
COVID-19 pandemic.

6

In the Industrial Machinery business, large projects related to film
manufacturing equipment for major textile manufacturers and the
new construction of plants for producers of health foods
contributed to business results. Combined with strong
performance by Nippon Daiya Valve, net sales and segment
income both recorded increases.
Finally, in the Global business, net sales and segment income
decreased. Despite the buoyant performance of the Tsurumi(Europe) GmbH Group, which deals with industrial water pumps,
sales activities were restricted and projects were delayed in China
and Southeast Asia due to the COVID-19 pandemic.

Business Summary by Segment(In billion yen)

Net sales

2022/3Result2023/3ResultSegment income

Change2022/3Result2023/3ResultChangePower Plant

11.36

15.47

+4.11

1.19

1.32

+0.13

Chemicals andEnergy Plant

22.26

26.43

+4.16

0.75

1.18

+0.44

Industrial Machinery

35.19

39.63

+4.44

1.14

1.69

+0.55

Global Business

16.49

11.79

-4.70

0.73

0.49

-0.24

Total

85.31

93.31

+8.00

3.82

4.68

+0.87
7

This slide includes a table of net sales and income results for theindividual segments. I have just explained them.
Please take a look to review them.

02
Topics8

Next, I will be talking about some topics related to the Seika Group.

Topic (1) Initiatives Aimed at the Nuclear Power Business
Main Established Sites
Genden Tsuruga Office

Launch of sales distributor operations
for nuclear power plant equipment in
the West Japan area

Mihama Office
Wakasa Branch
Takahama Office
Oi OfficeFrom April 1, 2023 we launched sales distributor operations
related to nuclear power plant equipment of Mitsubishi Heavy
Industries, Ltd. in the West Japan area.
In connection with this, we increased the number of personnel
and established a new site.

Genkai Office

Kawauchi Office

Yawatahama Office

Capital Alliance with TVE Co., Ltd.
TVE's core business is the sale and maintenance of highpressure valves for power plants, nuclear power plants inparticular, and generates around 8 billion yen in sales.
In each of our businesses including the power plant business,
which is a major driver of revenue, we implement operations
that are wide-ranging and closely connected, and TVE has ahigh degree of synergy with the company.

Office5-12-1, Nishi Tachibana-cho, Amagasaki-shi, Hyogo

Business
Activities

Manufacturing, sale and maintenance of various valves,
manufacturing and sale of various cast steel products

Capital1,739,559 thousand yen (As of March 31, 2023)

Date of
Establishment

March 16, 2000

We will strive to expand earnings in the Seika Group bycomplementing and supporting each other's strengths,
including the transfer of commercial rights held by TVE.
9First, I would like to talk about an initiative aimed at our nuclear powerbusiness.
On April 1, 2023, we launched operations as a sales distributor for the
nuclear power plant equipment of Mitsubishi Heavy Industries, Ltd.
(MHI) in the West Japan area.
Since our founding, we have provided sales distributor services for thethermal power plant products of MHI in the West Japan area, and in thislatest development, we have entered into a new sales distributor
agreement with MHI for nuclear power plant-related equipment.
As a result, we have increased personnel by around 30 people toprepare, and have established seven new sites including branches andoffices.
We also acquired approximately 300,000 additional shares in TVE Co.,
Ltd. (formerly Toa Valve Engineering), which is owned by KITZ
Corporation, and entered into a capital alliance with TVE, making it anequity method affiliate company.
TVE is a leading manufacturer of high-pressure valves in the field of
nuclear and thermal power generation, which generates about 8 billion
yen in sales.
This share acquisition and capital alliance is expected to expand
commercial rights and we believe it will contribute to revenue.

Topic (2)Acquisition of
Non-current Assets
Nippon Daiya Valve Co., Ltd. has acquired allｃleased land and buildings with the aim ofstabilizing its business foundations and expanding its business in the medium- to long-term.
Going forward, we will consider the optimum arrangement of plants and warehouses,
pursuing capital investment to expand production capacity.

Acquired land
10

Moving on to the next topic —Our consolidated subsidiary Nippon Daiya Valve Co., Ltd., Japan's
first diaphragm valve manufacturer, has been leasing all land where
its head office and plant are located and several plants and otherbuildings from Daiichi Sankyo Cop., Ltd. to conduct its operations,but has now acquired all leased land and buildings with the aim ofstabilizing its business foundations and expanding its business in themedium- to long-term.
In the future we will think about the optimum arrangement for theseplants and warehouses, making capital investments to expand
production capacity.

Returns to Employees and Human Resource Initiatives
Raising Starting Salaries for New Graduate Hiresand Increasing Base Salary Table Amounts
SEIKA implemented the increases with the aim of securing and fostering the development of the humanresources who will lead its sustainable growth as a corporate group.
The base salary table increases, including the amounts equivalent to regular salary increases, represent a wage
hike of around 5% on average.

Enhancements to the Employee Stock Ownership Scheme
Effective April 1, 2023, the employee stock ownership scheme which we run for the purposes listed below was
expanded to include the employees of consolidated subsidiaries, and incentives were increased from theprevious 5% to 10%.
Enhance the sense of ownership and awareness of participation in management by having employees being
actual shareholders
Aim to enhance medium- to long-term corporate value with the same perspective as shareholders
Enhance the awareness of contributions to the SEIKA Group
Contribute to increased trading volume and enhance liquidity in the stock market

Other Human Resource Initiatives
Reforms to Personnel Systems
Career recruitment (experts, area specialists, career returnees, utilization of Group human resources)
Improvements to the work environment
11

Lastly I would like to talk about returns to employees and human resource initiatives.
To maintain and raise employee motivation and encourage the growth of each individual,
SEIKA treats investments in human resources as one of its most important challenges.
As part of those measures, we raised starting salaries for new graduate hires in FY2023
and increased base amounts in the salary table for existing employees.
We also made enhancements to the employee stock ownership system on April 1, 2023,
expanding eligibility to the employees of consolidated subsidiaries, and raising
incentives from the previous 5% to 10%.
By having the employees of the SEIKA Group themselves become actual shareholders,
this scheme aims to enhance their sense of belonging and participation in management,
and also strive to enhance medium- to long-term corporate value from the same
perspective as shareholders.
In conjunction with this, the scheme helps increase share trading volume and improveliquidity in the stock market by ensuring stable demand for the purchase of stock in thecompany.
In other human resource initiatives, we are currently considering the introduction of anew personnel system. The aim of this will be to help employees develop career plansand provide a diverse range of options for how they work, by revising the current gradebased system and improving how the results of employees evaluations and reviews arereflected. Additionally, we will also focus more on hiring and engage in diverse
recruitment activities in anticipation of medium- to long-term business growth.

03
Consolidated Forecast for the Fiscal YearEnding March 31, 2024

12

I will now move on the consolidated forecast for the fiscal year
ending March 31, 2024.

Consolidated Forecast for the Fiscal Year Ending March 31, 2024
2024/3
Forecast

2023/3ResultChange Vs.
2023/32027/03
Forecast(In billion yen)

Change Vs.
2023/3

Transaction value(Note)

175.7

200.0

+13.8 %

220.0 +25.2 %Net sales

93.3

95.0

+1.8 %

110.0 +17.9 %Operating income

4.6

3.7

-20.2 %

5.2 +12.2 %Ordinary income

6.3

4.3

-31.6 %

5.2

Profit attributableto owners of parent(adjusted profit*)

5.0

2.9

-42.0 %

-30.0 %
3.5 (+25.0)(2.8)(+3.6)-17.3 %

* Including negative goodwill of 1.71 billion yen, adjusted profit excluding transient factors was 2.8 billion yen.

InterimYear-end

90

80

65

Changes in
dividends

45
25

55

40

40

100
Forecast

20

25

35

40

2021/32022/32023/32024/3(Forecast)

2027/3

13

This slide outlines the consolidated forecast for the fiscal year
ending March 31, 2024.
The forecasts are: Transaction value of 200 billion yen,
net sales of 95 billion yen,operating income of 3.7 billion yen,ordinary income of 4.3 billion yen, andprofit attributable to owners of parent of 2.9 billion yen.
For the current fiscal year, we forecast a full-year dividend of 80
yen per share, consisting of an interim dividend of 40 yen per shareand a year-end dividend of 40 yen per share, with a payout targetof 35%.
Also note that for the fiscal year ending March 31, 2027 we
forecast 3.5 billion yen in profit attributable to owners of parent, inwhich case we expect to issue an annual dividend of 100 yen per
share.

Three New Business Segments
To establish clear divisions enabling us to trace a part of growth and other changes over thelong term form the first year of VIORB2030 Phase 1, our new medium-term business plan, we
have shifted from the previous four business segments to three segments.

<Old>
Power Plant<New>
EnergyBusiness

Chemicals andEnergy Plant

Industrial
Machinery
Industrial
Machinery

Global Business

Energy generation-related
facilities including thermal,
nuclear and renewable

EnergyBusiness
Functional materials,
foods and beverages,
plant equipment andrelated facilities

Industrial
Machinery

Product
Business

Product
Business

Elemental machinery, materials,
automation equipment, electrical,
electronics and semiconductors, special
measurement and related products
14

To coincide with the launch of VIORB2030 Phase 1, the new mediumterm business plan we will start to work on from this fiscal year, wehave switched from the existing four business segments to three Energy, Industrial Machinery and Product, in order to make ourinitiatives in each business easier to understand and more effective.

Fiscal Year Ending March 31, 2024:
Consolidated Forecast for the Energy Business(Net Sales and Income)Net sales

Segment income(In billion yen)2024/3

31.3

32.0

35.0

Temporary increase in cost burden due
to up-front investment
Lull in the delivery of large projects

2.1

1.8
2027/30.9

2023/3Result2024/3
Forecast

2027/3
Forecast

2023/3Result2024/3
Forecast

Development of stable revenue frombusiness inquiries related to nuclear
power generation

2027/3
Forecast

Growth in demand from the switch tohydrogen, biomass and ammonia based
fuels (co-firing and single firing) at
existing gas and coal-fired power plants

15

Now, we will briefly look at the net sales and income forecasts forindividual segments.
First in the Energy Business, we expect a temporary increase incost burden due to up-front investment and a lull in the delivery ofmajor projects, projecting net sales of 32 billion yen with segment
income of 0.9 billion yen.
Over the period up to the fiscal year ending March 2027, which willbe the final year of the medium-term business plan, we will ensureprofitability related to nuclear power generation and also focus on
business talks for the conversion of coal-fired thermal power plants
to ammonia co-firing, as well as hydrogen gas turbines, aiming toroughly double segment income to 1.8 billion yen.

Fiscal Year Ending March 31, 2024:
Consolidated Forecast for the Industrial Machinery Business(Net Sales and Income)Net sales(In billion yen)Segment income

2024/338.0

Expected sales from manufacturing line
automation projects for major foodcompanies and chemical
manufacturers

33.0

Bookbinding equipment for government
agencies will contribute to sales

2027/3

0.8
0.5
* N/A

2023/3ResultExpanding revenue from business talks
related to labor savings* N/A

2024/3
Forecast

2027/3
Forecast

2023/3Result2024/3
Forecast

Accelerating expansion of sales
activities for eco-friendly products

2027/3
Forecast* N/A due to segment changes
16

Next, I would like to talk about the Industrial Machinery Business.
In the fiscal year ending March 31, 2024, we expect to generatesales from manufacturing line automation projects for major foodcompanies and chemical manufacturers, as well as bookbinding
equipment for government agencies. We project net sales of 33
billion yen, with segment income of 0.5 billion yen.
Over the period up to the fiscal year ending March 2027, we will
push forward to develop the foundations for growth of the Industrial
Machinery Business Segment, by firmly targeting business talks
related to "energy and resource conservation" and "circular
economy" set forth in the VIORB 2030 long-term vision, and utilizing
investment to drive the development of new commercial products.

Fiscal Year Ending March 31, 2024:
Consolidated Forecast for the Product Business(Net Sales and Income)Net sales

Segment income(In billion yen)2024/3

37.0

2.6

30.0

2.2

* N/A

Sales of standalone measurement
equipment and electronic devices willremain on par with the previous year.
Performance of major affiliates will
perform strongly, although not as wellas in the previous year.

* N/A

2027/3Further growth in the results of strongly
performing affiliate companies such as
Nippon Daiya Valve and Seika Daiya
Engine2023/3Result2024/3
Forecast

2027/3
Forecast

2023/3Result2024/3
Forecast

2027/3
Forecast* N/A due to segment changes
17

And the last but not least segment is the Product business.
The Product Business is made up of standalone measurement
equipment and electronic devices, as well as Group companies thatdeal with unique equipment, including Nippon Daiya Valve (NDV),
Seika Digital Image (SDI), Seika Daiya Engine (SDE) and Tsurumi(Europe) GmbH (TEG).
In the fiscal year ending March 31, 2024, we expect sales ofstandalone measurement equipment and electronic devices toremain on par with the previous year, and project strong
performance at our major affiliates of NDV, SDE, Shikishimakiki and
TEG, although not as much as the previous year. We forecast net
sales of 30 billion yen, with segment income of 2.2 billion.
In the fiscal year ending March 2027, the business results ofaffiliates including NDV and SDE will rebound from the effects ofbeefed up personnel numbers. We also project growth in businessresults from new initiatives such as the drone business, whichmakes use of standalone measurement equipment.

Consolidated Forecast for the Fiscal Year Ending
March 31, 2024 by Segment(In billion yen)

Net sales
2023/3ResultEnergy Business

31.3

Industrial Machinery

2024/3
Forecast

Segment income
2027/3
Forecast

32.0

35.0

33.0

38.0

62.0
Product Business

Total

93.3

2023/3Result2.1

2024/3
Forecast

2027/3
Forecast

0.9

1.8

0.5

0.8

2.3

2.6

3.7

5.2

2.6

30.0

37.0

95.0

110.0

4.7

18

This slide includes a table showing the net sales and income
forecasts for the individual segments.

Reduction Target for Cross-held Shares
To further improve asset efficiency and for other reasons, we will further reduce our cross-heldshares, setting the target of bringing cross-held shares as a percentage of consolidated
net assets down to less than 20% by the fiscal year ending March 2025.

8.4 billion yen

To a level below

8.0 billion yen

28.04%

20%

7.6 billion yen

25.68%

21.27%

2021/32022/3
Cross-held Shares

2023/32024/32025/3

Cross-held Shares as a Percentage of Consolidated Net Assets

19

As disclosed in February of the last fiscal year, based on the
Corporate Governance Code we determine the appropriateness ofshareholdings after verifying the effects of retaining cross-heldshares, and are making progress in reducing our cross-held sharesfor the purpose of improving asset efficiency, among other aims.
We are moving forward with the target of reducing cross-heldshares as a percentage of consolidated net assets to a level under
20% by the fiscal year ending March 2025.

Our Aspirations

Expanded corporate value(the challenge to achieve a PBR over 1.0x)

Market capitalization
As of March 31, 2023

25.3 billion yen

2026/3 Target

40 billion yen or greater(PBR of over 1.0x)(PBR 0.71 times)

Dividend Payout Ratio

Improved Management
Efficiency
ROE

Maintain

35% (goal)

Maintain in the

8% range20

Next, in response to the request issued by the Tokyo Stock Exchange
on March 31, 2023 for "Action to Implement Management that is
Conscious of Cost of Capital and Stock Price," after first analyzing thecurrent situation at Seika, we will start considering specific initiatives
to achieve a PBR of more than 1.0 times.
While maintaining a dividend payout ratio of 35% and an ROE of 8%,
we will target a market capitalization of 40 billion yen in the fiscal year2026.
We will announce details about these initiatives this autumn.

04
Issues to be Addressed

21

Next I would like to talk about the issues to be addressed.

Issues to be Addressed <Business Perspective>(1) Practicing and driving the implementation of management and businessactivities based on the VIORB2030 Phase 1 Medium-term Business Plan
Adopting the environment as a key theme, we will aim to meet stakeholder expectations while achieving
sustainable growth and the enhancement of corporate value in the medium and long term.

(2) Early stabilization of management in sales distributor operations related tonuclear power generating equipment
We have entered into a sales distributor agreement related to nuclear power plant equipment with
Mitsubishi Heavy Industries, and have simultaneously secured various distribution rights related tonuclear power plant equipment for the products of other manufacturers.
We will achieve stable management at an early stage.

(3) Expanding commercial rights utilizing business investment, etc., securing
competitive commercial products
To acquire new good quality commercial rights and commercialize the competitive technologies andproducts we have on hand, we will establish systems to coordinate between sales locations and the HQside and engage in business investment.
On the financing side, we will introduce cash management that includes credit lines and maximize
surplus funding.

22

We see the issues to be addressed on the business side as follows.
(1) Practicing and driving the implementation of management andbusiness activities based on the VIORB2030 Phase 1 Medium-term
Business Plan
(2) Early stabilization of management in sales distributor operations
related to nuclear power generating equipment(3) Expanding commercial rights utilizing business investment, etc.,
securing competitive commercial productsIssues to be Addressed <Management Side>(1) Implementing human resources measures aimed at the motivation and growth of
employees as a management resource
To achieve optimum personnel placements that leverage the abilities of each employee and maximize our performance as anorganization, we are pursuing human resources-related measures such as revisions to personnel systems, the development of
more sophisticated training schemes and workstyle innovations.
Additionally, from the perspective of corporate sustainability, we are continuing with initiatives to actively cultivate management
personnel.

(2) Developing more sophisticated consolidated management and strengthening sales
capabilities on a global and Group basis
As a corporate group made up of 29 companies spanning 13 countries, we will recognize and define the strengths of eachcompany, and focus management resources accordingly.
Moreover, we will transition our trading company-type overseas subsidiaries to a business implementation system equivalent tothe core Company's sales locations, raise the involvement of Sales Headquarters and strive to enhance sales capabilities.

(3) Action to implement management that is conscious of cost of capital and stock priceIn response to the request issued by the Tokyo Stock Exchange on March 31, 2023, after first analyzing the current situation at theCompany, we will strive to make improvements to achieve a PBR of more than 1.0 times and an ROE of at least 8%.

(4) Developing a sustainability-related management structure and publicizing our efforts
Our corporate motto (corporate philosophy) is to contribute to society through the expansion of business. In keeping with thestrategy defined in VIORB 2030, the long-term vision we formulated based on this philosophy, we will work towards achieving thesustainable growth of the Seika Group and enhanced corporate value in the medium and long term, while striving to realize asustainable society.
(Once the Sustainability Committee has been established, we will disclose more details including its role and how it will operate.)
23

We see the issues to be addressed on the management side as follows.
(1) Implementing human resources measures aimed at the motivationand growth of employees as a management resource(2) Developing more sophisticated consolidated management andstrengthening sales capabilities on a global and Group basis(3) Action to implement management that is conscious of cost of capitaland stock price(4) Developing a sustainability-related management structure andpublicizing our efforts

05
New Medium-Term Management Plan
VIORB2030 Phase1

24

Moving on, I would like to introduce our new medium-term
management plan.

Medium-Term Management Plan 2026
FY2023 - FY2026

VIORB2030 Phase 1

On this occasion I would like to give a brief overview of the new
VIORB2030 Phase 1 medium-term management plan we haveformulated.

Review of Re-SEIKA 2030 - the Previous Medium-term Management Plan
We largely achieved our targets for both indicators, consolidated operating income
and profit, including in FY2022, the final year of the plan.

Consolidated Operating Income and Profit
FY2020Results

Operating income

2.58
billion yen

Profit attributable toowners of parent

Assessment

2.72
billion yen

Numerical
targets

2.55
billion yen

1.90
billion yen

Achieved

FY2021Results

3.82
billion yen

2.25
billion yen

Numerical
targets

3.25
billion yen

2.30
billion yen

FY2022
Results

4.64
billion yen

5.00
billion yen

Partly achieved Achieved

Numerical
targets

3.70
billion yen

2.50
billion yen

Achieved

Including negative goodwill of 1.71 billion yen
26Here, I would first like to review Re-SEIKA 2023, the previous mediumterm management plan.
The three years of the previous medium-term plan were marked bydramatic changes to the business environment surrounding thecompany, including the acceleration of decarbonization around theworld and the global COVID-19 pandemic. However, by engaging inthe selection and concentration of management resources aimed atstrengthening our management foundations and pursuing fundamental
improvements to business efficiency, we achieved our declared targets
for both operating income and profit.

Positioning of VIORB2030 Phase 1,
the 2026 Medium-term Management Plan
The new medium-term management plan corresponds to the first half (2023 to 2026) of
VIORB 2030, our long-term management vision formulated in light of the businessenvironment surrounding Seika.
We will lay the foundations to achieve exponential growth in the second half of the vision(2027 to 2030).

Medium-Term Management Plan
VIORB2030 Phase 1

FY2023 - FY2026
Formulate singleyear business plans

Medium-Term Management Plan 2030
FY2027 - FY2030

Revise targets at themid point (year 2)

VIORB 2030 (FY2022 - FY2030)
27

The new medium-term management plan VIORB2030 Phase 1
corresponds to the first half (FY2023 to FY2026) of the VIORB 2030
Long-term Management Vision formulated in light of the businessenvironment surrounding Seika, while the second half of the vision(FY2027 to FY2030) has been designed to lay the groundwork forexponential growth.
And the end of FY2024, we will make revisions to target values for
FY2026, the final year of the plan.

Growth Strategy for the 2026 Medium-term Management Plan
VIORB2030 Phase 1
Pillars of Sales Strategy• Strengthen business foundations based on the energy business• Solve social issue and expand business across four priority domains,decarbonization, energy and resource conservation, circular economy and DX• Strategic business investment (envision a path toward growth together withbusiness partners, make business investments whose main purpose is to securecommercial rights and commercial products, create innovative businesses, anddevelop new revenue sources)

Establish a sustainable earnings structure
Human resources strategy• Introduction of personnel systems that champion the
success of diverse individuals and provide job
fulfillment to all employees• Career personnel, area specialists, career returnees
Promote a wide range of recruitment activities
including professional staff• Level up human resources with enhanced educationand training

Rebuilding of thebusiness portfolio• Engage in selection and concentration basedon careful examination of each business
entity's growth potential, and implement asset
replacement

Toughening the Seika Group28

We have declared three growth strategies: pillars of sales strategy,
rebuilding the business portfolio and human resource strategy.
The specifics are as follows.
- Strengthen the business foundations based on the energy business- Make strategic business investments in growth areas- Engage in selection and concentration based on a careful
examination of each business entity's growth potential, andimplement asset replacement- Develop a workplace environment in which all employees
experience job fulfillment

Main Measures of VIORB2030 Phase 1,
the 2026 Medium-term Management Plan
BusinessThree Segment
Measures
Invest around10 billion yen
in businesses

Strengthen Business
Coordination with
Overseas Sites● Shift to a three-segment structure and formulate highly effective businessstrategies for each
● Establish a structure that enables long-term stable business operation in the
nuclear energy business● Create new businesses in the fast-growing Southeast Asia region● Promote the development of new products related to green innovation● Acquire new pillars through M&A actions that secure new revenue bases● Prepare a 1 billion yen fund to support the SDGs
● Strengthen the business foundations of coordinated Group companies underleadership of the Sales Headquarters● Develop the four business domains established in VIORB 2030

Corporate
Reforms to

Personnel Systems
Promotion of Strategic

BPO● Implement a wide range of recruitment activities to recruit professional humanresources including career personnel, area specialists and career returnees
Enhanced education and training● Implement reforms to personnel systems enabling all employees to experience job
fulfillment● Instead of simply slimming down the corporate division, aim to maximize the use ofhuman resources as the most important resource of the organization, developing
more sophisticated operations on a Group basis, developing optimum personnel
allocations, and engaging in outsourcing as appropriate

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The key measures are as follows. Please take a look to review them.

Conclusion

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Promoting dialogue with shareholders andtaking action on disclosure
On March 31, 2023, a notice about "Better Dialogue with Shareholders and Related
Disclosure" was received from the Tokyo Stock Exchange. For its part, Seika will develop
systems to encourage constructive dialogue with shareholders and step up related efforts.

Conducting briefings for individual investors(six briefings per year planned)
In addition to planning six online investor seminars aimed at individual investors (three inthe first half and three in the second half), we are also considering inviting individual
investors to in-person briefings in major Japanese cities (Tokyo, Osaka and Fukuoka, etc.).
Through these efforts, we will promote a more in-depth understanding of the Seika Groupand encourage dialogue with shareholders.

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Seika will develop systems to encourage constructive dialogue withshareholders and step up related efforts.
In addition to results briefings for institutional investors, starting thisfiscal year we will hold briefings aimed at individual investors.
In addition to presenting online investor seminars, we areconsidering holding in-person briefings in major Japanese cities.
We will continue to pursue these initiatives to promote a deeper
understanding of the Seika Group, enhancing corporate value andachieving sustainable growth by receiving a range of feedback
through dialogue with shareholders.

Cautionary Note: Forward-Looking Statements:
All forward-looking statements contained herein are based on information available to SEIKACORPORATION as of the date hereof and actual results may differ materially from those in theforward-looking statements due to unforeseeable factors or uncertainties.
Figures in billions of yen or millions of yen presented herein are rounded down to the nearest billion
yen or to the nearest million yen respectively and numbers may not add up due to rounding.

IR Contact
Corporate Planning Dept., Tel: +81-3-5221-7117
E-mail: SMB076@jp.seika.com

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This is the end of the financial results briefing for the fiscal year ended
March 31, 2023.
We look forward to your continued support and guidance.
If you have any questions about this financial results briefing, pleasecontact our Corporate Planning Department, and its staff will respond.
Thank you very much for your time.