Fuso Chemical : Notice of Regarding the Revision of the Medium-Term Management Plan

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 11, 2023

To whom it may concern:

Company name: Fuso Chemical Co., Ltd.

Representative: Shinichi Sugita, Representative Director and President (Securities code: 4368, Prime Market)

Inquiries: Hiroyuki Ito, Division Manager of Administration Phone: [phone]

Notice Regarding the Revision of the Medium-Term Management Plan

Our corporate group has decided to review its Medium-Term Management Plan ʻFUSO VISON 2025ʼ (FY2021-2025), which was announced on May 7, 2021, as follows.

１．Background for the revision to the Medium-Term Management plan

On May 7, 2021, we announced our medium-term management plan, 'FUSO VISION 2025,' which ends in FY2025, and have been working to achieve each strategic goal.

As the second year of the medium-term management plan ends, we have confirmed the progress made to date. Compared to the assumptions made at the time of the plan's formulation, the business environment surrounding our company has been positively impacted by dizzying changes in the market environment, such as the yen's depreciation trend in the foreign exchange market, surging raw material prices, and further progress in semiconductor miniaturization. In addition, the entire Group has taken measures to cope with these changes in the business environment. As a result, our business performance exceeded the initial forecast of the medium-term management plan.

Therefore, we have decided to change the management targets for the final year (FY2025) of the current medium-term management plan, 'FUSO VISION 2025,' considering the outlook for the future business environment and current performance trends. There is no change in the management policies and measures other than the management targets for the final year of the current medium-term management plan, 'FUSO VISION 2025'.

２．Details of Review of the Plan

(1) Management Targets for FY2025

(the final year of the medium-term management plan "FUSO VISION 2025")

	Initial	Revised
	Plan	Plan
Net sales	JPY 58.0	JPY 85.0
	billion	billion
Operating profit	JPY 14.0	JPY 19.0
	billion	billion
Operating profit before	JPY 20.0	JPY 30.0
depreciation and amortization	billion	billion

[Reference] Latest Results（FY ending March 31, 2023）

JPY 68.4 billion

JPY 18.9 billion

JPY 23.2 billion

※Details of the "Medium-Term Management Plan 'FUSO VISION 2025'", may be referred to on our website：https://fusokk.co.jp/eng/.