Hakudo : Notice Concerning Revisions to Financial Results Forecasts and Dividend Forecasts

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.

	December 8, 2021
Company name:	Hakudo Co., Ltd.
Name of representative:	Koji Tsunoda, President
	(Securities code: 7637; 1st Section
	of the Tokyo Stock Exchange)
Inquiries:	Akihiro Taniguchi,
	Executive General Manager
	Administration Division
	(Telephone: [phone])

Notice Concerning Revisions to Financial Results Forecasts and Dividend Forecasts

Hakudo Co., Ltd. (the "Company") hereby announces, in light of the most recent financial results and operating trends, that it has revised the financial results forecasts announced on August 10, 2021, as well as dividend forecasts announced on November 10, 2021, as described below.

1. Revisions to the full-year consolidated financial results forecasts for the fiscal year ending March 31, 2022 (April 1, 2021 through March 31, 2022)

				Profit attributable
	Net sales	Operating profit	Ordinary profit	to owners of	Earnings per share
	(Millions of yen)	(Millions of yen)	(Millions of yen)	parent	(Yen)
				(Millions of yen)
Previously announced	52,000	3,420	3,500	2,400	211.61
forecasts (A)
Revised forecasts (B)	54,300	4,070	4,170	2,850	251.28
Change (B-A)	2,300	650	670	450
Change (%)	4.4%	19.0%	19.1%	18.8%
(Reference)
Actual consolidated results	39,219	1,981	2,083	1,281	113.01
for the previous fiscal year
(Fiscal year ended March 31,
2021)

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2. Revisions to the full-yearnon-consolidated financial results forecasts for the fiscal year ending March 31, 2022 (April 1, 2021 through March 31, 2022)

	Net sales	Ordinary profit	Profit	Earnings per share
	(Millions of yen)	(Millions of yen)	(Millions of yen)	(Yen)
Previously announced	49,000	3,250	2,220	195.73
forecasts (A)
Revised forecasts (B)	51,300	3,920	2,650	233.65
Change (B-A)	2,300	670	430
Change (%)	4.7%	20.6%	19.4%
(Reference)
Actual non-consolidated
results for the previous fiscal	37,017	2,011	1,226	108.12
year
(Fiscal year ended March 31,
2021)

1. Reason for revisions to the financial results forecasts
   The Company expects to exceed the previously announced forecast based on forecasted sales increases that exceed expectations for the robust semiconductor manufacturing equipment industry, and the impact of rising prices in the raw materials market. Therefore, the Company has revised net sales, operating profit, ordinary profit and profit attributable to owners of parent, which were announced on August 10, 2021, for the full-year consolidated and non-consolidated financial results forecasts for the fiscal year ending March 31, 2022.
2. Details of revisions to dividend forecasts

			(Yen)
		Annual dividends
	Second quarter-	Fiscal-year end	Total
	end
Previous forecasts announced		48.00	96.00
on November 10, 2021
Revised forecasts		62.00	110.00
Actual results for the current	48.00
fiscal year
Actual results for the
previous fiscal year	0.00	58.00	58.00
(Fiscal year ended March 31,
2021)

Note: Previous forecasts and revised forecasts for the year-end dividend include 90th anniversary memorial dividend of ¥9.00.

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5. Reason for revisions to the dividend forecasts

In light of the revisions to the consolidated and non-consolidated financial results forecasts for the full year (April 1, 2021 through March 31, 2022), the Company has revised the year-end dividend from the previously forecasted ¥48.00 per share to ¥62.00 per share.

Note: The forecasts contained in the above are based on information currently available to the Company as of the date of release of this document and include a considerable number of uncertain factors. Accordingly, actual results may differ from the forecasted values due to changes in the business conditions.

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