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.

May 12, 2023

Consolidated Financial Results

for the Fiscal Year Ended March 31, 2023

(Under Japanese GAAP)

Company name: Taoka Chemical Co., Ltd

Listing:

Tokyo Stock Exchange

Securities code:

4113

URL:

https://www.taoka-chem.co.jp

Representative:

Yasuaki Sasaki, President

Inquiries:

Yasuhito Katsumoto, General Manager, Business Services Office

Telephone:

+81-6-7639-7400

Scheduled date of annual general meeting of shareholders:

June 22, 2023

Scheduled date to commence dividend payments:

June 2, 2023

Scheduled date to file annual securities report:

June 22, 2023

Preparation of supplementary material on financial results:

None

Holding of financial results briefing: Yes (for institutional investors and analysts)

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

1. Consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Consolidated operating results

(Percentages indicate year-on-year changes.)

Net income

Sales revenue

Operating income

Ordinary income

attributable to

owners of the

parent

Fiscal year ended

Millions of

%

Millions of

%

Millions of

%

Millions of

%

yen

yen

yen

yen

March 31, 2023

30,166

(6.8)

451

(83.3)

457

(83.6)

310

(84.9)

March 31, 2022

32,374

1.0

2,708

(32.6)

2,798

(31.1)

2,063

(21.1)

Note: Comprehensive income

For the fiscal year ended March 31, 2023: ¥ 337 million [(83.8)%]

For the fiscal year ended March 31, 2022: ¥ 2,079 million [(21.4)%]

Diluted net

Ratio of

Ratio of

Net income

Return on

ordinary

operating

income

per share

equity

income to

income to net

per share

total assets

sales

Fiscal year ended

Yen

Yen

%

%

%

March 31, 2023

21.68

－

1.9

1.4

1.5

March 31, 2022

144.03

－

12.9

9.3

8.4

Reference: Share of profit (loss) of entities accounted for using equity method For the fiscal year ended March 31, 2023: ¥ － million For the fiscal year ended March 31, 2022: ¥ － million

Note: Effective on October 1, 2021, the Company split one common share into five shares. Net income per share was calculated under the assumption that this stock split was conducted at the beginning of the previous consolidated fiscal year.

(2) Consolidated financial position

Total assets

Net assets

Equity-to-asset

Net assets per

ratio

share

As of

Millions of yen

Millions of yen

%

Yen

March 31, 2023

31,069

16,570

53.3

1,156.45

March 31, 2022

32,417

16,749

51.7

1,168.92

Reference: Equity

As of March 31, 2023: ¥16,570 million

As of March 31, 2022: ¥16,749 million

(3) Consolidated cash flows

Cash flows from

Cash flows from

Cash flows from

Cash and cash

operating

investing

financing

equivalents at end

activities

activities

activities

of period

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

1,478

(4,339)

2,995

853

March 31, 2022

(1,329)

(2,075)

(273)

718

2. Cash dividends

Annual dividends per share

Total cash

Payout ratio

Ratio of

First

Second

Third

dividends to

Fiscal

dividends

quarter-

quarter-

quarter-

Total

(Consolidated)

net assets

year-end

(Total)

(Consolidated)

end

end

end

Yen

Yen

Yen

Yen

Yen

Millions of

%

%

yen

Fiscal year ended

−

90.00

−

18.00

−

515

25.0

3.2

March 31, 2022

Fiscal year ended

−

18.00

−

9.00

27.00

386

124.5

2.3

March 31, 2023

Fiscal year ending

March 31, 2024

−

9.00

−

9.00

18.00

64.5

(Forecast)

Note: Effective on October 1, 2021, the Company split one common share into five shares. The year-end dividend per share for the fiscal year ended March 31, 2022 is stated by taking into account the effect of the stock split, and the total annual dividend is stated as "−." When the effect of the stock split is taken into account, the second quarter-end dividend per share and annual dividend per share for the fiscal year ended March 31, 2022 will be ¥18.00 and ¥36.00, respectively.

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

(Percentages indicate year-on-year changes.)

Net income

Net

attributable to

Sales revenue

Operating income

Ordinary income

income

owners of the

per share

parent

Millions of

%

Millions of

%

Millions of

%

Millions of

%

Yen

yen

yen

yen

yen

Second

quarter-end

15,000

(1.7)

150

(39.8)

150

(46.3)

100

(47.7)

6.98

(Cumulative)

Full year

32,000

6.1

700

55.2

700

52.9

400

28.8

27.92

* Notes

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
  2. 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
  4. Number of issued shares (common shares)
    1. Total number of issued shares at the end of the period (including treasury shares)

As of March 31, 2023

As of March 31, 2022

14,440,000 shares

14,440,000 shares

(ii) Number of treasury shares at the end of the period

As of March 31, 2023

As of March 31, 2022

111,140 shares

111,140 shares

(iii) Average number of shares outstanding during the period

Fiscal year ended March 31, 2023

Fiscal year ended March 31, 2022

14,328,860 shares

14,328,860 shares

Note: Effective on October 1, 2021, the Company split one common share into five shares. The above numbers of shares were calculated under the assumption that this stock split was conducted at the beginning of the previous consolidated fiscal year.

[Reference] Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31, 2023)

(1) Non-consolidated operating results

(Percentages indicate year-on-year changes.)

Sales revenue

Operating income

Ordinary income

Net income

Fiscal year ended

Millions of

%

Millions of

%

Millions of

%

Millions of

%

yen

yen

yen

yen

March 31, 2023

27,520

(11.8)

267

(89.7)

314

(88.5)

219

(89.1)

March 31, 2022

31,217

(0.5)

2,594

(34.2)

2,723

(31.9)

2,006

(22.0)

Net income

Diluted net

income

per share

per share

Fiscal year ended

Yen

Yen

March 31, 2023

15.29

－

March 31, 2022

140.03

－

(2) Non-consolidated financial position

Total assets

Net assets

Equity-to-asset

Net assets per

ratio

share

As of

Millions of yen

Millions of yen

%

Yen

March 31, 2023

30,277

16,283

53.8

1,136.42

March 31, 2022

31,928

16,591

52.0

1,157.92

Reference: Equity

As of March 31, 2023: ¥16,283 million

As of March 31, 2022:

¥16,591 million

  • 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 regarding forward-looking statements and others)
    The forward-looking statements, including financial forecasts, contained in this report are based on information currently available to the Company and certain assumptions deemed to be reasonable. Accordingly, they are not intended to be construed as assurance that they will be accomplished in the future. Note that actual results may differ materially from the forecasts for a number of reasons.

Though sales prices of products increased reflecting a steep rise in raw material prices, sales revenue of monomers for optical resins and rubber additives decreased. As a result, the Taoka Chemical Group's consolidated sales revenue for the fiscal year ended March 31, 2023 decreased by ¥2,207 million compared with the previous fiscal year, to ¥30,166 million. The Group posted operating income of ¥451 million, ordinary income of ¥457 million and net income attributable to owners of the parent of ¥310 million.

The financial results of Taoka Chemical by business segment for the fiscal year were as follows:

Division

Fiscal year ended

Fiscal year ended

Change

March 31, 2022

March 31, 2023

Millions of Composition Millions of Composition Millions of

Year-on-year

yen

ratio (%)

yen

ratio (%)

yen

rate (%)

Fine Chemicals

17,153

52.9

13,856

45.9

(3,296)

(19.2)

Functional Chemicals

3,807

11.8

3,285

10.9

(522)

(13.7)

Functional Polymers and

10,813

33.4

12,403

41.1

1,590

14.7

Additives

Chemicals Segment

31,774

98.1

29,545

97.9

(2,228)

(7.0)

Analytical Services

599

1.9

620

2.1

21

3.6

Total

32,374

100.0

30,166

100.0

(2,207)

(6.8)

Note: The "Analytical Services," which previously composed the "Others" segment, has been presented as a reportable segment because its quantitative importance has increased.

Chemicals Segment

Sales revenue of this segment was ¥29,545 million, a ¥2,228 million decrease compared to the previous fiscal year.

Fine Chemicals Division

Though sales prices of products increased reflecting a steep rise in raw material prices, shipments of monomers for optical resins, pharmaceutical intermediates, and agrochemical intermediates decreased. As a result, the division sales revenue decreased by ¥3,296 million to ¥13,856 million.

Functional Chemicals Division

Shipments of adhesives and rubber additives decreased. As a result, the division sales revenue decreased by ¥522 million to ¥3,285 million.

Functional Polymers and Additives Division

Sales of varnish in China contributed to the increase in the division sales revenue for the full year and sales prices of products increased reflecting a steep rise in raw material prices. As a result, the division sales revenue increased by ¥1,590 million to ¥12,403 million.

Analytical Services Segment

Sales revenue of asbestos analysis and evaluation of hazardous substances increased. As a result, the segment sales revenue increased by ¥21 million to ¥620 million.

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Taoka Chemical Co. Ltd. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 06:12:08 UTC.