Mitsubishi Chemical : Notice Regarding Revision to Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021

	February 3, 2021
Company name:	Mitsubishi Chemical Holdings Corporation
Representative:	Hitoshi Ochi
	Representative Corporate Executive Officer,
	President & Chief Executive Officer
	TSE code no.:4188, 1st section
Contact:	Osamu Shimizu
	General Manager,
	Public Relations and Investor Relations Office
Tel:	[+81] (0)3-6748-7120

Notice Regarding Revision to Consolidated Financial Results Forecast

for the Fiscal Year Ending March 31, 2021

Mitsubishi Chemical Holdings Corporation has revised the forecast that it announced on November 4, 2020 for the fiscal year ending March 31, 2021, as follows.

1. Revision to consolidated financial results forecast for fiscal 2020 (April 1, 2020 - March 31, 2021)

(Billions of yen; unless otherwise noted)

	Sales	Core	Operating	Net	Net income		Net income
	attributable to
	operating		per share
	revenue	income	income	owners of
	income		(yen)
				the parent
Previous forecast (A)	3,175.0	140.0	4.0	(34.0)	(59.0)	(41.54)
(announced on November 4, 2020)
Revised forecast (B)	3,193.0	153.0	23.0	(22.0)	(48.0)	(33.80)
Difference (B－A)	18.0	13.0	19.0	12.0	11.0
Difference (%)	0.6	9.3	475.0	－	－
Reference:	3,580.5	194.8	144.3	86.6	54.1	38.08
Results for fiscal 2019

Notes:

 The forecast for net income before taxes has been changed from ¥(16.0) billion to 4.0 billion.

 Core operating income is operating income (loss) after excluding certain gains and expenses attributable to non-recurring factors.

2. Reason for revision

For the full fiscal year, sales revenue and all the earnings accounts following core operating income should exceed the previous forecast. This would be due largely to the recovery of demand, primarily for automotive applications and the rise in market conditions of methyl methacrylate (MMA) and other products have exceeded the previous forecast announced on November 4, 2020.

Reference:

Core operating income by segment

(Billions of yen)

	Revised forecast	Previous forecast	Difference
Performance Products	54.0	51.0	3.0
Chemicals	6.0	(8.0)	14.0
Industrial Gases	81.0	80.0	1.0
Health Care	13.0	13.0	－
Others	(1.0)	4.0	(5.0)
Total	153.0	140.0	13.0

Forward-Looking Statements

The forward-looking statements are based largely on the Company's expectations and information available as of the date hereof, and are subject to risks and uncertainties which may be beyond the Company's control. Actual results could differ materially due to numerous factors, including, without limitation, market conditions, and the effect of industry competition.