Toho Titanium : Notice of Revision to Earnings Forecasts for the Six Months Ending September 30, 2022

Translation from the Original Japanese Version.

July 28, 2022

Company name: Toho Titanium Co., Ltd.

Representative: Yasuji Yamao, Representative Director and President

Code number: 5727 (Prime Market of the Tokyo Stock Exchange)

Contact person: Hiromu Tomeba, General Manager, Planning, Corporate Management Division

Telephone: [phone]

Notice of Revision to Consolidated Earnings Forecasts for

the Six Months Ending September 30, 2022

Toho Titanium Co., Ltd. announced today revision to its consolidated earnings forecasts for the six months ending September 30, 2022 that were announced on May 10, 2022 as follows:

1. Revision to the consolidated earnings forecast for the six months ending September 30, 2022 (From April 1, 2022 to September 30, 2022)

				(Millions of yen)
		Operating	Ordinary	Profit	Net income
	Net sales	attributable to	per share
	income	income
		owners of parent	(yen)
Previous Forecast (A)	41,600	4,600	4,400	2,800	39.34
Revised Forecast (B)	41,600	4,800	5,000	3,400	47.77
Difference (B－A)	-	200	600	600	－
Difference (%)	-	4.3	13.6	21.4	－
Results for the six months	26,280	2,622	2,583	1,871	26.30
ended September 30, 2021

2. Reasons for the revision

For the six months ending September 30, 2022, sales volume of ultra-fine nickel powder, a key product in the Chemicals business, is expected to decrease due to a decline in demand, but we expect to increase its profit compared with the previous forecast as mentioned above, mainly due to higher sales prices of titanium metal products and the depreciation of the yen.

The consolidated financial forecast for the FY2022 remains unchanged at this time due to the extremely uncertain outlook for the global economy, including the continued sharp rise in energy prices following Russia's invasion of Ukraine and policy rate hikes by central banks to control inflation. If it becomes necessary to revise the FY2022 consolidated earnings forecast, we will disclose it promptly.

Business performance forecasts and other forward-looking statements contained in this document are based on the information that is presently available to the Company and on certain assumptions that the Company considers reasonable. The Company makes no representations that those forecasts and other forward-looking statements are achievable. Actual results may differ materially from the forecasts due to various factors.