Mitsubishi Chemical : Operational Summary for the First Quarter of Fiscal Year Ending March 31, 2022

Operational Summary

for the First Quarter of Fiscal Year Ending March 31, 2022

August 4, 2021

Mitsubishi Chemical Holdings Corporation

Consolidated Financial Statements for FY2021 1Q Statements of Operations

Sales Revenue and Core Operating Income (Loss) by Business Segment

Analysis of Core Operating Income (Loss)

Overview of Business Segments

Special Items

Cash Flows

Statements of Financial Positions

Table of Contents

Page No.	Revised Forecast for 1H of FY2021
4	Statements of Operations
5	Sales Revenue and Core Operating Income (Loss)
by Business Segment
6	References 1
7	Statements of Operations [Quarterly Data]
11	Sales Revenue and Core Operating Income (Loss)
by Business Segment [Quarterly Data]
12	Business Segment Information
13	References 2
	Business Results (MTPC)

Page No.

15

16

Page No.

18

19

20

Page No.

22

Mitsubishi Chemical Holdings Corporation has adopted IFRS starting with FY2016 1Q.	2

List of Abbreviations

FY2021	April 1, 2021 - March 31, 2022
	1st Quarter (1Q):	April 1, 2021 - June 30, 2021
	2nd Quarter (2Q):	July 1, 2021 - September 30, 2021
	3rd Quarter (3Q):	October 1, 2021 - December 31, 2021
	4th Quarter (4Q):	January 1, 2022 - March 31, 2022
	1st Half (1H):	April 1, 2021 - September 30, 2021
	2nd Half (2H):	October 1, 2021 - March 31, 2022
FY2020	April 1, 2020 - March 31, 2021
	1st Quarter (1Q):	April 1, 2020 - June 30, 2020
	2nd Quarter (2Q):	July 1, 2020 - September 30, 2020
	3rd Quarter (3Q):	October 1, 2020 - December 31, 2020
	4th Quarter (4Q):	January 1, 2021 - March 31, 2021
	1st Half (1H):	April 1, 2020 - September 30, 2020
	2nd Half (2H):	October 1, 2020 - March 31, 2021
MCHC	Mitsubishi Chemical Holdings Corporation
MCC	Mitsubishi Chemical Corporation
MTPC	Mitsubishi Tanabe Pharma Corporation
LSII	Life Science Institute, Inc.
NSHD	Nippon Sanso Holdings Corporation

3

Consolidated Statements of Operations

Exchange Rate (¥/$)

Naphtha Price (¥/kl)

Sales Revenue

Continuing	Core Operating Income *1
	Special Items
	Operating Income
Operations
Financial Income/Expenses
(Dividend included above)
	(Foreign Exchange Gain/Loss included above)
	Income before Taxes
*
Income Taxes
2
Net Income (Loss) from
	Continuing Operations
	Net Income from Discontinued Operations

Net Income

Net Income Attributable to Owners of the Parent

Net Income Attributable to Non-Controlling Interests

*1 Share of profit of associates and joint ventures included.

109.8		107.4	109.7	2.4
47,700		25,000	45,400	22,700
				(Billions of Yen)
FY2021 1Q		FY2020 1Q	FY2019 1Q	Difference
928.3		722.7	916.4	205.6
88.7		15.0	70.1	73.7
(1.7)		8.7	(0.2)	(10.4)
87.0		23.7	69.9	63.3
(1.7)		(3.3)	(3.3)	1.6
[3.8]		[2.5]	[2.9]	[1.3]
[(0.0)]		[0.0]	[(0.3)]	[(0.1)]
85.3		20.4	66.6	64.9
(26.1)		(12.2)	(18.2)	(13.9)
59.2		8.2	48.4	51.0
-		-	0.5	-
59.2		8.2	48.9	51.0
49.9		5.2	37.8	44.7
9.3		3.0	11.1	6.3
4.6	0.2	5.0	4.4

2%	0.1
91%	2,300

Difference

• vs. FY2019 1Q

28%11.9

491% 18.6

(1.5)

267% 17.1

1.6

[0.9]

[0.3]

318% 18.7

(7.9)

10.8

(0.5)

10.3

866% 12.1

(1.8)

(0.4)

108.0

48,000

FY2021 1H

Forecast

(Announced on May 12)

1,774.0

102.5

(2.0)

100.5

(7.0)

[2.7]

[0.0]

93.5

(33.0)

60.5

-

60.5

44.0

16.5

• to 1H Forecast

52%

87%

87%

91%

113%

Core operating income is calculated as operating income (loss) excluding certain gains and expenses attributable to non-recurring factors (losses incurred by business withdrawal and streamlining, etc.).

4

Sales Revenue and Core Operating Income (Loss)

by Business Segment

											(Billions of Yen)
													FY2021 1H
							FY2021 1Q		FY2020 1Q		Difference		Forecast
										(Announced
													on May 12)
				Total Consolidated	Sales Revenue		928.3		722.7		205.6		1,774.0
				Core Operating Income		88.7		15.0		73.7		102.5
				Polymers & Compounds	Sales Revenue		80.1		60.1		20.0		139.0
				Core Operating Income		8.0		2.0		6.0		7.5
				Films & Molding Materials	Sales Revenue		120.2		94.3		25.9		216.0
				Core Operating Income		15.3		5.2		10.1		18.0
				Advanced Solutions	Sales Revenue		82.8		69.0		13.8		169.0
				Core Operating Income		3.3		4.1		(0.8)		7.0
			Performance Products	Sales Revenue		283.1		223.4		59.7		524.0
			Core Operating Income		26.6		11.3		15.3		32.5
				MMA	Sales Revenue		77.6		48.0		29.6		135.0
				Core Operating Income		12.3		(1.9)		14.2		17.0
				Petrochemicals	Sales Revenue		160.4		93.3		67.1		313.0
				Core Operating Income		16.0		(14.3)		30.3		2.0
				Carbon Products	Sales Revenue		53.9		44.4		9.5		100.0
				Core Operating Income		6.5		(1.4)		7.9		5.0
			Chemicals	Sales Revenue		291.9		185.7		106.2		548.0
			Core Operating Income		34.8		(17.6)		52.4		24.0
			Industrial Gases	Sales Revenue		216.8		182.9		33.9		415.0
			Core Operating Income		23.8		13.5		10.3		45.0
			Health Care	Sales Revenue		98.4		95.2		3.2		195.0
			Core Operating Income		4.7		8.9		(4.2)		3.0
			Others	Sales Revenue		38.1		35.5		2.6		92.0
			Core Operating Income		(1.2)		(1.1)		(0.1)		(2.0)
					[Inventory valuation gain/loss]
					Polymers & Compounds		1.0		(0.1)		1.1
					Petrochemicals		9.0		(14.7)		23.7
					Carbon Products		(0.6)		(0.5)		(0.1)
*1	Breakdown figures of segment are approximation for reference purpose only.	Total		9.4		(15.3)		24.7
*2 From Q2 FY2020, Qualicaps, Inc. has been reclassified from the Health Care segment to the Performance Products segment (Advanced Solutions).
	The segment information for FY2020 is accordingly restated.
*3	From Q1 FY2021, in tandem with building an organizational structure that conforms to growth business domains in KAITEKI Vision 30, the medium- to long-term basic management strategy for MCHC, the conventional breakdown of
	performance products into two classifications, functional products and performance chemicals, will be changed into three classifications, polymers and compounds, films and molding materials, and advanced solutions.	5
	In addition, the company is reclassifying the managing segments for some of its businesses and consolidated subsidiaries. Accordingly, for purposes of comparison, we are restated the results for FY2020.