February 10, 2023

Company name

ADEKA CORPORATION

Stock exchange listing Tokyo (code no. TSE 4401)

Representative

HIDETAKA SHIROZUME

PRESIDENT AND CHIEF EXECUTIVE OFFICER

Contact

FUMITAKE KOYAE

OPERATING OFFICER AND GENERAL MANAGER,

LEGAL AFFAIRS & PUBLICITY DEPARTMENT

Notice revision of Consolidated financial forecasts for FY 2022

ADEKA CORPORATION (President and Chief Executive Officer: Hidetaka Shirozume) is pleased to announce that it has revised its consolidated financial forecasts for fiscal 2022（April 1, 2022 - March 31, 2023）which announced on August 10, 2022

1. Revision of consolidated financial forecasts

Fiscal 2022 Full year(April 1, 2022 - March 31, 2023)

Profit

Basic

Operating

Ordinary

attributable

Net sales

earnings per

profit

profit

to owners of

share

parent

Million yen

Million yen

Million yen

Million yen

Yen

Previous forecast

(A)

420,000

37,000

36,900

22,000

213.58

Newly revised forecast (B)

403,000

32,000

32,000

19,000

185.25

Change

(B-A)

△17,000

△5,000

△4,900

△3,000

Rate of change (%)

△4.0

△13.5

△13.3

△13.6

(ref.)Results for the previous

361,234

34,032

35,658

23,687

229.65

corresponding period

*Effective from the first quarter of the fiscal year ending March 31, 2023, the Company has changed its method of converting revenues and expenses of some overseas subsidiaries.

The figures for the previous fiscal year (the fiscal year ended March 31, 2022) are the figures after retrospective application of a change in accounting policy.

2. Reasons of Revision

In view of such factors as the operating results for the nine months ended December 31, 2022 and recent market trends, the Company revises the full-year consolidated financial results forecast for the fiscal year ending March 31, 2023, which was announced on August 10, 2022.

Net sales are projected to fall below the previously announced figures. Behind the projection are signs of economic deceleration that deepened across the globe causing a decline in demand for overall chemical products, in addition to the protracted impact of decreased automobile production and panel production adjustments.

In terms of profit, operating profit is forecast to fall below the initial plan in the Chemicals Products Business and the Food Products Business. Accordingly, the Company revises the previously announced figures for each of operating profit, ordinary profit, and profit attributable to owners of parent.

〈Continued on the next page〉

The primary factor in the Chemicals Products Business is a decrease in sales volumes of polymer additives and display-related materials.

In the Food Products Business, costs for utilities, auxiliary materials, packaging materials, and logistics costs have been on the rise, alongside a decline in sales volumes. Despite the pursuit of sales price revisions currently underway, the results are expected to fall below the initial plan as price revisions will take some time before exercising an effect on the operating results.

Our assumptions for the exchange rates for the fourth quarter are 130 yen against the U.S. dollar and 140 yen against the Euro.

Note : The forecast performance and business plans specified in this document have been prepared based on information available as of the date of publication, as well as on various prerequisites; therefore, the actual results may differ from these forecasts or plans depending on various factors that may arise hereafter. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

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Adeka Corporation published this content on 17 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2023 07:45:03 UTC.