Financial Results Summary

for the Three Months of the Fiscal Year

Ended March 31, 2023

Nippon Soda Co., Ltd.

August 2, 2022

1

Contents

１．Consolidated Financial Results for the Three Months of the Fiscal Year Ended March 31, 2023

・Overview

...

3

・Performance by segment

...

4

・Net Sales by sub-segments of Chemicals

...

5

・Net Sales by sub-segments of Agro Products

...

6

２．Revised Forecast of Consolidated Financial Results

for the First Half of the Fiscal Year Ending March 31, 2023

・Overview

...

8

・Performance forecast by segment

...

9 - 10

３．Forecast of Consolidated Financial Results

for the Fiscal Year Ending March 31, 2023

・Overview

... 12

・Performance forecast by segment

... 13

４．Reference Materials

... 14 - 15

2

Consolidated Financial Results for the Three Months of the Fiscal Year Ended March 31, 2023 (Overview)

(Billions of yen)

2022/3 1Q

2023/3 1Q

Change

Change (%)

(amount)

Net sales

31.83

40.44

8.61

27.1%

Operating profit

2.34

5.84

3.50

149.6%

Share of profit of entities accounted

0.04

1.62

1.58

for using equity method

Ordinary profit

2.68

8.69

6.01

224.3%

Profit attributable to owners of parent

1.73

5.85

4.12

237.8%

Exchange rate (JPY/USD)

109.3

129.4

20.2

Exchange rate (JPY/EUR)

131.4

137.8

6.4

・Increased sales of the Agro Products, Chemicals and Trading Businesses

【Operating profit （year on year）】

・Revised sales price due to a substantial rise in costs of raw materials and fuel

・Recorded inventory valuation gain, due to a rise in costs of raw materials and fuel

・Increased share of profit of entities accounted for using equity method

・Exchange rate changed for the weak yen

1.34 （2.35）

2.57

（Billions of yen）

1.94 5.84

・Operating profit difference : 3.50 breakdown

Price difference : 2.57（of which, rate difference : 1.63）

Volume difference : 1.34

Material purchase price difference : (2.35)

(of which, rate difference : (0.73))

Others : 1.94 (of which, inventory valuation gain : 2.44)

2.34

Operating

profit

difference: 3.50

'22/3 1Q

Price

Volume

Material

Others

'23/3 1Q

difference

difference

Purchase

Price difference

3

(Performance by segment)

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

(Billions of yen)

2022/3

1Q

2023/3 1Q

Change (amount)

Net sales

Operating

Net sales

Operating

Net sales

Operating

profit

profit

profit

Chemicals

9.91

1.26

11.48

1.83

1.56

0.57

Agro Products

8.86

0.16

13.44

2.93

4.58

2.77

Trading

8.46

0.27

9.46

0.38

0.99

0.11

Transportation and Warehousing

1.09

0.15

1.11

0.19

0.02

0.04

Construction

1.25

0.38

2.35

0.10

1.10

（0.29)

Others

2.25

0.31

2.60

0.27

0.36

(0.03)

Adjustments

-

(0.19)

-

0.14

-

0.34

Total

31.83

2.34

40.44

5.84

8.61

3.50

・Chemicals Business : Increased pharmaceutical additive "NISSO HPC" and KrF photo resist material "VP-POLYMER" Revised sales price due to a substantial rise in cost of raw materials and fuel

・Agro Products Business : The sales for export increased in insecticide "MOSPILAN", fungicide "Pancho", "TOPSIN-M", "PYTHILOCK" and acaricide "NISSORUN", as front-loaded demand occurred in those products due to the disruptions in global marine transportation and anticipation of rising sales prices.

・Trading Business : Increased various organic chemicals

・Transportation and Warehousing : Increased Warehousing business, decreased Transportation business

・Construction Business : Increased plant construction work (Decreased profit due to adjustments regarding the Accounting Standard for Construction Contracts)

4

(Net sales by sub-segmentsof Chemicals)

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

(Billions of yen)

consolidated-

Industrial chemicals

Fine chemicals

Specialty chemicals

Eco-business

Non

Pharmaceuticals &

intermediates, Biocides

Subtotal

Subsidiaries sales, elimination of transactions, etc.

Net sales of Chemicals

2022/3 1Q

2023/3 1Q

Change

Main factors of change

(amount)

3.31

3.10

(0.21)

Phosphorus chloride↑

Caustic potash↓, Potassium carbonate↓

2.16

2.65

0.49

Secondary battery materials↑

1.50

1.75

0.25

VP-POLYMER↑

1.62

1.22

(0.39)

NISSO HI-CHLON↓

2.01

2.75

0.75

NISSO HPC↑

10.59

11.47

0.89

(0.67)

0.01

0.68

9.91

11.48

1.56

・Industrial chemicals : Increased phosphorus chloride due to revising in sales price

Terminated the production of caustic potash and potassium carbonate due to implementation of structural reforms

・Fine chemicals : Increased secondary battery materials

・Specialty chemicals : Growth in sales of KrF photo resist

material "VP-POLYMER"

・Pharmaceuticals : Growth in sales of pharmaceutical additive "NISSO HPC"

【Chemicals : Quarterly net sales and operating profit】

1Q

2Q

3Q

4Q (Billions of yen）

Net sales

Operating profit

60

3

2.64

2.47

50

46.60

2.5

43.89

0.24

（2nd half）

40

13.70

（2nd half）

2

0.78

0.96

30

23.40

1.5

0.20

10.51

20

1

（1st half）

1.83

9.76

（1

st

half）

1.26

1.68

10

0.5

9.91

11.48

23.20

0

0

'22/3

'23/3

'23/3

'22/3

'23/3

'23/3

results

1Q

Forecast

results

1Q

Forecast

5

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Nippon Soda Co. Ltd. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 08:01:11 UTC.