Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

August 7, 2023

Summary of Consolidated Financial Results for the Three Months Ended

June 30, 2023 (Under Japanese GAAP)

Company name:

Mitsubishi Gas Chemical Company, Inc.

Listing:

Tokyo Stock Exchange

Securities code:

4182

URL:

https://www.mgc.co.jp/eng/

Representative:

Masashi Fujii, Representative Director, President

Inquiries:

Satoshi Takizawa, General Manager, Investor Relations Department

TEL:

+81-3-3283-5041

Scheduled date to file quarterly securities report:

August 10, 2023

Scheduled date to commence dividend payments:

-

Presentation of supplementary material on quarterly financial results: Yes

(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)

(1) Summary of consolidated income statement (cumulative)

(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

Profit attributable to

owners of parent

Three months ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

June 30, 2023

187,008

(3.6)

6,211

(67.0)

7,025

(71.8)

19,844

23.2

June 30, 2022

193,982

21.2

18,844

28.9

24,884

34.5

16,113

12.3

Note:

Comprehensive income Three months ended June 30, 2023

¥31,831 million

[4.0%]

Three months ended June 30, 2022

¥30,611 million

[81.0%]

Basic earnings per

Diluted earnings per

share

share

Three months ended

Yen

Yen

June 30, 2023

97.00

-

June 30, 2022

77.73

-

(2) Consolidated financial position

Total assets

Net assets

Equity ratio

As of

Millions of yen

Millions of yen

%

June 30, 2023

1,109,722

703,457

56.7

March 31, 2023

1,029,317

671,249

59.0

Reference: Equity

As of June 30, 2023

¥629,750 million

As of March 31, 2023

¥607,613 million

- 1 -

2. Dividends

Annual dividend

First quarter-end

Second quarter-end

Third quarter-end

Fiscal year-end

Total

Yen

Yen

Yen

Yen

Yen

Fiscal year ended

-

40.00

-

40.00

80.00

March 31, 2023

Fiscal year

ending March 31,

-

2024

Fiscal year

ending March 31,

40.00

-

40.00

80.00

2024 (Forecast)

Note:

Revisions to the forecast most recently announced: No

3. Consolidated business forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)

(Percentages indicate year-on-year changes.)

Profit attributable to

Basic

Net sales

Operating profit

Ordinary profit

earnings per

owners of parent

share

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

Six months ending

September 30,

380,000

(3.8)

14,000

(58.2)

16,000

(68.0)

25,000

(27.0)

122.19

2023 (cumulative)

Fiscal year ending

840,000

7.5

46,000

(6.2)

49,000

(29.8)

47,000

(4.2)

229.71

March 31, 2024

Note:

Revisions to the forecast most recently announced: Yes

- 2 -

* Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. Application of special accounting for preparing quarterly consolidated financial statements: None
  3. Changes in accounting policies, changes in accounting estimates, and restatement
    1. Changes in accounting policies due to revisions to accounting standards and other regulations: None
    2. Changes in accounting policies due to other reasons: None
    3. Changes in accounting estimates: None
    4. Restatement: None
  5. Number of issued shares (common stock)
    1. Number of issued shares at term end (including treasury stock)

As of June 30, 2023

222,239,199

As of March 31, 2023

222,239,199

(ii) Number of shares of treasury stock at term-end

As of June 30, 2023

17,661,473

As of March 31, 2023

17,660,740

(iii) Average number of outstanding shares (cumulative from the beginning of the fiscal year)

Three months ended June 30, 2023

204,578,056

Three months ended June 30, 2022

207,311,458

  • Quarterly financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
  • Proper use of earnings forecasts, and other special matters (Caution concerning forward-looking statements)
    The forward-looking statements, including earnings forecasts, contained in these materials are based on information currently available to the Company and on certain assumptions deemed to be reasonable. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. A number of factors could cause actual results to differ materially from expectations.
    (How to access supplementary material on quarterly financial results)
    The supplementary material on quarterly financial results is disclosed on the same day as this quarterly financial results report, and it is made available on the Company's website.

- 3 -

Consolidated Financial Statements

1. Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2023

As of June 30, 2023

Assets

Current assets

Cash and deposits

108,378

97,264

Notes and accounts receivable - trade,

176,626

186,456

and contract assets

Securities

93

56

Merchandise and finished goods

89,367

126,331

Work in process

22,331

20,201

Raw materials and supplies

66,444

72,390

Other

20,775

28,338

Allowance for doubtful accounts

△767

△711

Total current assets

483,249

530,327

Non-current assets

Property, plant and equipment

Buildings and structures, net

102,143

106,527

Machinery, equipment and vehicles, net

87,890

95,431

Other, net

123,733

133,629

Total property, plant and equipment

313,767

335,588

Intangible assets

Goodwill

4,425

20,246

Other

7,555

8,393

Total intangible assets

11,980

28,639

Investments and other assets

Investment securities

200,101

193,692

Other

22,141

23,446

Allowance for doubtful accounts

△1,922

△1,973

Total investments and other assets

220,320

215,165

Total non-current assets

546,068

579,394

Total assets

1,029,317

1,109,722

- 4 -

(Millions of yen)

As of March 31, 2023

As of June 30, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

88,342

102,965

Short-term borrowings

47,913

69,655

Income taxes payable

5,274

3,976

Provisions

6,714

4,449

Other

72,197

77,960

Total current liabilities

220,442

259,007

Non-current liabilities

Bonds payable

20,000

20,000

Long-term borrowings

74,680

79,297

Provisions

3,383

2,921

Retirement benefit liability

4,453

5,943

Asset retirement obligations

5,272

5,368

Other

29,835

33,727

Total non-current liabilities

137,625

147,257

Total liabilities

358,068

406,264

Net assets

Shareholders' equity

Share capital

41,970

41,970

Capital surplus

34,293

35,496

Retained earnings

521,426

533,088

Treasury shares

△23,838

△23,839

Total shareholders' equity

573,852

586,715

Accumulated other comprehensive income

Valuation difference on available-for-

8,950

10,298

sale securities

Deferred gains or losses on hedges

110

58

Foreign currency translation adjustment

22,894

30,996

Remeasurements of defined benefit plans

1,805

1,681

Total accumulated other comprehensive

33,760

43,034

income

Non-controlling interests

63,636

73,707

Total net assets

671,249

703,457

Total liabilities and net assets

1,029,317

1,109,722

- 5 -

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MGC - Mitsubishi Gas Chemical Co. Inc. published this content on 07 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 06:05:52 UTC.