TOKYO OHKA KOGYO CO., LTD.

Supplemental Data of Business Results― Fiscal Year ended December 2019 ―Feb. 13, 2020
TOKYO OHKA KOGYO CO., LTD.

© 2020 TOKYO OHKA KOGYO CO., LTD.

Summary01（Millions of yen）

FY2019/12

FY2018/12
ResultChange%(2,457)(2.3)

Net sales

105,277 102,820

Operating income

10,5059,546(959)(9.1)

Ordinary income

10,734

9,707(1,027)(9.6)

Profit attributable toowners of parent

6,875

5,410(1,465)(21.3)■Average exchange rate (US$)︓ ¥109.5／$（FY2018/12）⇒ ¥108.1／$（FY2019/12)■Net sales︓Decreased 2.3% year on year due to a slowdown in demand for semiconductors
triggered by the U.S.-China trade friction and also to the impact of theamendment to US GAAP Note
■Operating income︓Decreased 9.1% year on year due to a decrease in net sales■Profit︓Decreased 21.3% year on year due to an extraordinary loss and an increasein non-controlling interests ㏌ net income
Note︓ An overseas consolidated subsidiary adopting US GAAP applied ASC 606 “Revenue fromContracts with Customers” effective January 1, 2019.
© 2020 TOKYO OHKA KOGYO CO., LTD.

02Performance Forecasts by Business Segment（Millions of yen）

FY2019 /12

FY2018/12
ResultChange%

105,277

102,820(2,457)(2.3)

102,62198,986(3,635)(3.5)

Electronic functional
materials

58,79358,249

(544)

(0.9)

High purity chemicals

43,73340,674(3,059)(7.0)

9563(32)(33.3)

2,655

3,833

+1,178+44.4

10,505

9,546

(959)

(9.1)

14,765

13,462(1,303)

(8.8)

(883)

(286)

+597

－

(3,376)(3,628)(252)－Net sales
Material business

Other
Equipment business
Operating income
Material businessEquipment businessEliminations and corporate

Note1: Effective January 1, 2019, TOK changed the cost allocation method to evaluate and manage financial results by business segment
more appropriately, and part of corporate expenses was allocated to Material Business. Following this change, the year-on-yearcomparison is conducted using the figures reclassified under the new allocation method.
Note2:An overseas consolidated subsidiary adopting US GAAP applied ASC 606 “Revenue from Contracts with Customers”
effective January 1, 2019.
© 2020 TOKYO OHKA KOGYO CO., LTD.

Balance Sheets

03（Million of yen）

FY2019YoY

93,282(6,619)Cash and deposits

46,405(9,687)

Notes and accounts
receivable

23,887+1,347

Inventories

17,439+194

Property, plant and equipment

55,057+6,698

661+103

Investments and other assets

37,485+3,346

Current Liabilities

20,316(1,059)

10,345(1,036)

14,437+3,713

Total net asset

151,733+875

Total asset

186,486+3,529Current Assets

Intangible assets

Notes and accounts
payableLong-Term Liabilities

Note : An overseas consolidated subsidiary adopting US GAAP
applied ASC 606 “Revenue from Contracts withCustomers” effective January 1, 2019.

Buildings and structures +6,198
Machinery(2,748)
Furniture and fixtures
(308)
Land
(116)
Construction in progress +3,225

Long-term loans payable +1,272
Retained earnings+23
Treasury stock(1,153)
Unrealized gain on
available-for-sale securities +1,380
Foreign currencytranslation adjustments(271)© 2020 TOKYO OHKA KOGYO CO., LTD.

Cash Flows

04（Millions of yen）

FY2018FY2019Cash flows from operating activities+14,311+12,743

Income before income taxes andminority interests+9,814+8,657

Depreciation+7,063+7,216

Decrease (increase) in trade notes
and accounts receivable(420)(1,367)

Decrease (increase) in inventories(1,770)(388)

Decrease (increase) in trade notes
and accounts payable+1,092(943)

Increase (decrease) in advances
received

(147)

(37)

(2,221)(2,302)

Cash flows from investing activities(8,013)(17,286)

Cash flows from financing activities+4,333(5,789)

(741)

(289)

+9,889(10,621)

Income taxes paid

Translation adjustments
Net increase (decrease) in cash andcash equivalents

Major breakdown
Purchases of property,
plant and equipment(14,774)
Major breakdown
Proceeds from long-term loans
payable+1,372
Purchase of treasury shares(1,371)Dividends paid(incl. minority shareholders)(5,759)© 2020 TOKYO OHKA KOGYO CO., LTD.

05

Earnings Forecasts (Full-year)（Millions of yen）

FY2019Net sales

FY2020102,820 107,000

Forecast

Change%+4,180+4.1

Operating income

9,546

11,300+1,754+18.4

Ordinary income

9,707

11,700+1,993+20.5

Profit attributable toowners of parent

5,410

7,900+2,490+46.0■Exchange rate assumptions（US$）︓ ¥108.1／$（2019/12）⇒ ¥105.0／$（2020/12）■Net sales︓Material Business is assumed to advance to a growth stage in response to the recovery
trend in semiconductor production. Forecast to increase 4.1% year on year
■Operating in come︓
Forecast to increase 18.4% year on year due to profit increase in Material Business despite anincrease in corporate expenses■Profit attributable to owners of parent :Forecast to increase 46.0% year on year partly due to a rebound from declined profit attributableto owners of the parent in FY2019/12© 2020 TOKYO OHKA KOGYO CO., LTD.06

Performance Forecasts by Business Segment（Millions of yen）

FY2020 Forecast

FY2019Change%102,820

107,000 +4,180+4.1

Material business

98,986103,200 +4,214+4.3

Electronic
functional
materials

58,24960,400 +2,151+3.7

High purity
chemicals

40,67442,700 +2,026+5.0

Equipment business

3,833

3,800(33)

(0.9)

9,546

11,300 +1,754+18.4

13,462

15,300 +1,838+13.7

Net sales

Operating income
Material business
Equipment businessEliminations andcorporate

(286)

(100)

+186

－

(3,628)(3,900)(272)－© 2020 TOKYO OHKA KOGYO CO., LTD.

Capital Investments/Depreciation/R&D

07(Millions of yen)

FY2019FY2020 Forecast
Change%CapitalInvestments

14,1835,600(8,583)(60.5)

Depreciation

7,216

7,000(216)

(3.0)

R&D

8,879

9,500+621+7.0© 2020 TOKYO OHKA KOGYO CO., LTD.

www.tok.co.jp/eng(Note)
This presentation material contains forward-looking statements that
describe future prospects of TOKYO OHKA KOGYO CO., LTD. (theCompany) in terms of business planning, earnings and management
strategies. Such statements are based on management’s judgement,
derived from information available to it at the time such information
was prepared. Readers are cautioned not to rely solely on theseforward-looking statements, as actual results and strategies may
differ substantially according to changes in the Company’s businessenvironment.

© 2020 TOKYO OHKA KOGYO CO., LTD.