Osaka Soda : Notice Concerning Revisions to Financial Results Forecasts and Dividend Forecasts for the Fiscal Year Ending March 31, 2023

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 5, 2022
Company name:	OSAKA SODA Co., Ltd.
Name of representative:	Kenshi Terada, Representative
	Director and President and Chief
	Executive Officer
	(Securities code: 4046; Tokyo
	Stock Exchange)
Inquiries:	Toru Imamura, General Manager,
	Administration Division
	(Telephone: [phone])

Notice Concerning Revisions to Financial Results Forecasts and

Dividend Forecasts for the Fiscal Year Ending March 31, 2023

OSAKA SODA Co., Ltd. (the "Company") hereby announces that in light of the most recent operating trends, a decision was passed at the meeting of the Board of Directors held on August 5, 2022, to revise the financial results forecasts and dividend forecasts for the fiscal year ending March 31, 2023 (April 1, 2022 through March 31, 2023), disclosed with the announcement of the financial results forecasts and dividend forecasts on May 12, 2022, as described below.

1. Revisions to consolidated financial results forecasts

1. Revisions to earnings forecasts for the first half of the fiscal year (April 1, 2022 through September 30, 2022)

			Consolidated net		Consolidated		Consolidated		Profit attributable		Consolidated
						to owners of
			sales		operating profit		ordinary profit			earnings per share
						parent
	Previously announced		Million yen		Million yen		Million yen		Million yen		Yen
	forecasts (A)	47,000	6,500	6,900	4,800	205.72
	Revised forecasts (B)	51,000	9,200	10,100	7,000	300.39
	Change (B-A)	4,000	2,700	3,200	2,200		―
	Change (%)	8.5%	41.5%	46.4%	45.8%		―
	(Reference)
	Actual consolidated results	42,157	5,694	6,158	4,421	189.55
	for the first half of the
	previous fiscal year

(2) Revisions to earnings forecasts for the full-year (April 1, 2022 through March 31, 2023)

		Consolidated net		Consolidated		Consolidated		Profit attributable		Consolidated
					to owners of
		sales		operating profit		ordinary profit			earnings per share
					parent
Previously announced		Million yen		Million yen		Million yen		Million yen		Yen
forecasts (A)	94,000	13,000	13,700	9,500	407.16
Revised forecasts (B)	98,000	15,700	16,900	11,700	501.97
Change (B-A)	4,000	2,700	3,200	2,200		―
Change (%)	4.3%	20.8%	23.4%	23.2%		―
(Reference)
Actual consolidated results	88,084	12,401	13,435	9,442	404.73
for the previous fiscal year

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(3) Reason for the revision

With regards to business performance in the six months ending September 30, 2022, we expect sales of Epichlorohydrin, Allyl Ethers, and other products for electronic materials, healthcare-related products such as pharmaceutical purification materials, active pharmaceutical ingredients (APIs) and their intermediates, and other products to exceed the forecast. In light of these circumstances, the Company has made upward revisions to the earnings forecast for the six months ending September 30, 2022, as described above.

On the other hand, the outlook is unclear owing to factors such as further increases in prices of raw materials and fuel and the decline in the number of automobiles produced. As such, the earnings forecast for the second half of the fiscal year has been maintained in line with initial forecasts and has not been revised. Accordingly, at present, the full-year earnings forecast has been revised upward taking into consideration only the revision to earnings forecasts for the first half of the fiscal year. Furthermore, the revised forecasts for each level of profit for the first six months of the fiscal year and the full year will be the Company's highest ever profit.

2. Revision to the dividend forecasts

(1) Details of revision

				Annual dividends
		Second quarter-end		Fiscal-year end	Total
	Previous forecasts	Yen		Yen	Yen
	41.00	41.00	82.00
	Revised forecasts	45.00	45.00	90.00
	Actual results for the current	-	-	-
	fiscal year
	Actual results for the	35.00	45.00	80.00
	previous fiscal year

(2) Reason for the revision

Based on the above revisions to the earnings forecast, and comprehensively taking into consideration the continuity of stable dividends, internal reserves for future business development, and other factors, the dividend for the end of the first six months of the fiscal year has been revised to ¥45, a ¥4 increase from the previous forecast of ¥41 per share. In addition, the year-end dividend forecast will also be increased by ¥4 from the previous forecast of ¥41 per share, to ¥45. As a result, the forecast for the annual dividend per share will be ¥90, an increase of ¥8 from the previous forecast and an increase of ¥10 from the results of the previous fiscal year.

• The above-mentioned forecasts are based on information currently available to the Company. Actual results may differ from the forecasts due to various factors in the future.

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