Oji Holdings Corporation (Code No. 3861  Tokyo Stock Exchange) https://www.ojiholdings.co.jp/ Hiroyuki Isono, President & Chief Executive Officer Akio Hasebe, Executive Officer 03-3563-1111 +81-3-3563-1111(overseas) June 29, 2022 Start of dividend payout: June 7, 2022 June 29, 2022 Statutory annual report to be presented: (All yen figures are rounded down to the nearest one million yen) 1. Results for the Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022) (Unaudited)
Note: Oji Holdings has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. effective from the beginning of the current consolidated fiscal year. The figures for the fiscal year ending March 31, 2022 are the figures after the application of the accounting standards. (2) Consolidated Financial Condition

2. Cash Dividends

3. Consolidated Financial Forecasts for the Year Ending March 2023 (April 1, 2022-March 31, 2023) (Figures shown in percentage for the full year are ratios compared to the previous year,

4. Notes
(1) Changes in important subsidiaries (changes regarding specified subsidiaries accompanying changes in the scope of consolidation) :  None (2) Changes in accounting methods compared with recent consolidated accounting periods Changes due to accounting standard changes : Yes (1) None (ii)   Changes besides (i) : (iii)  Accounting estimate change : None None (iv)  Restatement : (Note)Please refer to "Consolidated Quarterly Financial Statements and Notes (Changes in accounting policies)" on page 11 of the attached document for more details. (3) Outstanding balance of issued shares  (common stock) (ï)  Outstanding balance of issued shares at t the end of fiscal year (Including treasury shares) FY2021 1,014,381,817 FY2020 (ii) Outstanding balance of treasury shares at t he end of fiscal year FY2020 FY2021 23,764,570 (iii)  Weighted average number of shares during fiscal year FY2020 990,497,836 FY2021

(Reference)
1. Results for the Year Ended March 31, 2022 (April 1, 2021 - March 31, 2022) (1) Non-consolidated Business Results
(2) Non-consolidated Financial Condition

NOTICE
• This document is out of the scope of the audit procedures required by Financial Instruments and Exchange Act, and audit procedures for consolidated financial statement have not been finished as of the date of publication. • Forecasts released are based on expectations of f future economic conditions as of the date of publication. The actual results may differ drastically from these forecasts due to various factors that may arise in the future. • This document is an excerpt translation of the Japanese original and is only for reference purposes. In the event of any discrepaney between this translation and the Japanese original, the latter shall prevail.
1. Qualitative Information Concerning Business Performance and Financial Situation

(1) Qualitative Information Concerning Business Performance Consolidated net sales for FY2021 increased by ¥111.2 billion to ¥1,470.2 billion (year-on-year increase of 8.2%) due to a gradual recovery in demand, resulting from the resumption of economic activities that had been stagnant due to the spread of COVID-19,and higher pulp sales prices. Overseas sales ratio increased by 4.3 points from the previous year to 33.5%. Consolidated operating profit increased by ¥35.3 billion to ¥120.1 billion (year-on-year increase of 41.7%)  due to increased sales volume, higher pulp sales prices, and cost reduction efforts throughout the Group, although raw materials and fuel prices have sharply increased. Ordinary profit increased by ¥52.0 billion to ¥135.1 billion (year-on-year increase of 62.7%) due in part to foreign exchange gains from revaluation of foreign currency-denominated receivables and payables as well as an increase in operating profit. Profit before taxes increased by ¥48.4 billion to ¥129.3 billion (year-on-year increase of 59.8%), and profit attributable to owners of parent decreased by ¥37.9 billion to ¥87.5 billion (year-on-year increase of 76.3%). Effective from the beginning of the current  consolidated fisical year, Oji Holdings has applied "Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020)" and has changed the accounting method for revenue recognition. “Consolidated Financial Statements and Notes (Changes in accounting policies)” on page 11 of the attached document show more details. In its FY2019-2021 Medium-term Management Plan, the Oji Group set "Profitability Improvement of Domestic Business", ""Expansion of Overseas Business", and "Promotion of Innovation"" as the fundamental policies, and aimed to become a global corporate group,which stably maintains consolidated operating profit of more than ¥100.0 billion through, "Contribution to a Sustainable Society". We operated our business with the following management targets for FY2021: consolidated operating profit of more than ¥150.0 billion, overseas sales ratio of 40%, return on equity (ROE) of 10.0%, and net debt-to-equity ratio of 0.7 times. However, we were unable to achieve the targets except for those for ROE and net debt-to-equity ratio due to the economic stagnation and delay in recovery caused by the spread of COVID-19. Meanwhile, we steadily implemented business structure reforms in light of diversity of consumption structure, lifestyles, and working styles caused by the spread of COVID-19, and strategic measures to improve our corporate value based on the Medium-term Management Plan. In domestic business, we worked to improve capital efficiency by restructuring our production system our production system in response to the structural changes the structural changes in demand and by utilizing effectively our facilities our facilities, and strived to enhance profitability by concentrating management resources on promising businesses. In regard to overseas business, mainly in packaging business in Southeast Asia, we organically expanded the existing operations and also created synergies among our businesses as well as operations. Also, we promoted the development and the early commercialization of new businesses and new products that meet the needs of the environment and society. As a result of the efforts, we achieved a record-high consolidated operating profit of ¥120.1 billion in FY2021.

(II) Overview of Business Performance by Segment
The Oji Group's four reporting segments are: "Household and Industrial Materials", "Functional Materials", "Forest Resources and Environment Marketing", and "Printing and Communications Media". Each of the reporting segment consists of those that are recognized to be similar in terms of economic characteristics, manufacturing methods or processes of products, markets in which products are sold, and types of customers, among the constituent units of the Oji Group. Business segments that are not included in the reporting segments are classified as "Others".
Major business lineup for the segments are as follows.
- Household and Industrial Materials: Containerboard/corrugated containers, boxboard/folding cartons, packing paper/paper bags, household paper, disposable diapers, etc. - Functional Materials: Specialty paper, thermal paper, adhesive materials, film, etc. - Forest Resources and Environment Marketing: Pulp, energy, forest plantation/lumber processing, etc. - Printing and Communications Media: Newsprint, printing/publication/communication paper, etc. - Others: Real estate, engineering, trading business, logistics, etc. As stated in "Change in accounting policies", "Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020)" has been adopted from the beginning of the current  consolidated fisical year  and the accounting method for revenue recognition and the method used to calculate profit and loss for business segments have been changed. As a result of this change, compared to the previous method, net sales of FY2021 decreased by ¥2.5 billion for Household and Industrial Materials segment, ¥13.4 billion for Functional Materials segment, ¥0.6 billion for Forest Resources and Environment Marketing segment, ¥26.7 billion for Printing and Communications Media segment, and ¥6.7 billion for Others. The effect on profit or loss for each segment is immaterial. ○Household and Industrial Materials In FY2021, net sales amounted to ¥700.7 billion (year-on-year increase of 8.2%), and operating profit was ¥26.1 billion (year-on- year decrease of 31.4%). Regarding domestic business, sales amount increased from the previous year due to continued steady sales of containerboard and corrugated containers for e-commerce industry as a result of a trend of staying home to prevent the spread of COVID-19, in addition to the overall recovery in demand of containerboard, corrugated containers, boxboard and packing paper. As for disposable diapers, sales amount decreased from the previous year. As for household paper, sales amount increased from the previous year. Regarding overseas business, sales amount increased from the previous year. Although sales of disposable diapers at major retailers in Malaysia were not strong due to the spread of COVID-19, strong sales of containerboard and corrugated containers mainly in Southeast Asia and the penetration of price increases contributed to the increase in sales amount.
○Functional Materials
In FY2021, net sales amounted to ¥184.7 billion (year-on-year increase of 1.3%), and operating profit was ¥15.3 billion (year-on- year increase of 33.0%). Regarding domestic business, sales amount decreased from the previous year due to the adoption of the "Accounting Standard for Revenue Recognition". On the other hand, demands for films for condensers used in electric vehicles and general industrial use, and packaging films for foods and general goods remained strong. Regarding overseas business, sales amount of thermal paper increased from the previous year due to a gradual recovery in demand, despite the continued impact of a trend of staying home to prevent the spread of COVID-19 and economic stagnation.
○Forest Resources and Environment Marketing
In FY2021, net sales amounted to ¥314.5 billion (year-on-year increase of 28.2%), and operating profit was ¥55.5 billion (year-on- year increase of 233.1%). Regarding domestic business, sales amount increased from the previous year. Although sales volume of energy business decreased from the previous year due to an increase in in-house electricity consumption resulting from higher capacity utilization at domestic mills, exports of dissolving pulp, mainly to China, showed signs of recovery from the economic stagnation caused by the spread of COVID-19. Regarding overseas business, sales volume of pulp business decreased from the previous year, while sales amount increased due to higher pulp sales prices.
○ Printing and Communications Media
In FY2021, net sales amounted to ¥244.5 billion (year-on-year increase of 0.2%), and operating profit was ¥17.8 billion (year-on- year increase of 59.5%). Regarding domestic business, sales volume increased from the previous year due to the rebound from the economic stagnation caused by the spread of COVID-19 in the previous year in printing paper for commercial printing use, although demands for newsprint and printing paper for publication use continued to decrease from the previous year. However, sales amount decreased from the previous year due to the adoption of the "Accounting Standard for Revenue Recognition". Regarding overseas business, sales amount increased from the previous year at Jiangsu Oji Paper Co., Ltd., as China is recovering from the economic stagnation caused by the spread of COVID-19.

<FY2022 Forecast and Future Outlook >
The forecast for the next fiscal year is based on net sales of ¥1,700.0 billion, operating profit of ¥105.0 billion, ordinary profit of ¥110.0 billion, and net profit attributable to owners of parent of ¥70.0 billion. Starting in FY2022, a new Medium-term Management Plan will be launched with FY2024 as the final year. We will continue to enhance our existing businesses, centering on the packaging business, and expand new businesses in Japan and overseas, aiming to increase the profitability and scale of our core businesses. At the same time, we will promote ESG management and address climate change issues through fuel conversion to zero coal consumption, expansion of renewable energy use, expansion of forest plantations and sustainable forest management, and development of environmentally friendly materials and products derived from plants. Through the efforts, we will strive to provide new sustainable value.

2. Outline of Business Performance and Financial Situation

Consolidated quarterly statements of comprehensive income

(Changes in accounting policies) (Application of Accounting Standard for Revenue Recognition, etc.) “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020. Hereinafter “Revenue Recognition Standard") and related guidelines have been adopted from the beginning of the current fiscal year. In line with this adoption, revenue is recognized at the time of the transfer of controls for promised goods or services to customers in the amount that reflects the consideration to which they expect to be entitled in exchange for those goods or services. The main changes due to the adoption of the new accounting standard are the accounting treatment of consideration paid to customers, such as sales incentives, and the accounting treatment of transactions in which purchased goods are sold to customers. With respect to sales incentives and other consideration paid to customers, a portion of the expenses that were previously recorded in selling, general and administrative expenses are now reduced from sales. In addition, as for transactions in which purchased goods are sold to customers, revenue was previously recognized at the total amount of consideration received from the customer, but has partly changed to be recognized at the net amount received from the customer less the amount paid to the supplier. In adopting the Revenue Recognition Standard, in accordance with the transitional treatment set forth in the proviso of Paragraph 84 of the Revenue Recognition Standard, the cumulative effect of retrospective application of the accounting policy to the beginning of the current fiscal year was charged to retained earnings at the beginning of the current fiscal year. The new accounting policy was applied from the beginning balance of the current fiscal year. However, the Group has applied the method prescribed in Paragraph 86 of the Revenue Recognition Standard and has not retrospectively applied the new accounting policy to contracts in which almost all the revenue amounts were recognized in accordance with the previous treatment prior to the beginning of the current fiscal year. In addition, the Group has applied the method prescribed in Paragraph 86, second sentence (1) of the Revenue Recognition Standard and accounted for contract changes made prior to the beginning of the current fiscal year based on the contract terms after reflecting all contract changes and added or subtracted the cumulative effect of such changes to retained earnings at the beginning of the current fiscal year. As a result, for the current fiscal year, net sales decreased by ¥49,989 million, cost of sales decreased by ¥20,405 million, selling, general and administrative expenses decreased by ¥29,325 million, non-operating expenses decreased by ¥120 million, operating profit decreased by ¥259 million, and ordinary profit and profit before income taxes each decreased by ¥ 139 million. In addition, the balance of retained earnings at the beginning of the current fiscal year increased by ¥110 million. The impact on information per share is immaterial. Due to the adoption of the Revenue Recognition Standard, "Trade notes and accounts receivable" which was presented in "Current assets" of the consolidated balance sheet for the previous fiscal year, is included in "Note receivable – trade", “Accounts receivable – trade”, and “Contract assets” from the current fiscal year. In accordance with the transitional treatment set forth in Article 89-2 of the Revenue Recognition Standard, consolidated financial statements for past periods have not been reclassified using the new presentation method. (Application of Accounting Standard for Fair Value Measurement, etc.) “Accounting Standard for Fair Value Measurement” (ASBJ Statement No. 30, July 4, 2019. Hereinafter “Fair Value Measurement Standard") and other standards have been adopted from the beginning of the current fiscal year, and in accordance with the transitional treatment set forth in Article 19 of Fair Value Measurement Standard and Article 44-2 of “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, July 4, 2019), the Group has determined to continue to apply new accounting policies prescribed by Fair Value Measurement Standard and other standards prospectively. The effects of this adoption on the consolidated financial statements is  immaterial.