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Presentation for Investors 3Q FY2025 (April 1, 2025 - December 31, 2025) Financial Results Presented by DAIMON Hideki Director, Senior Executive Vice President & CFO February 9, 2026 Translation of presentation materials for the conference call held on February 9, 2026
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2 01 3Q FY2025 Financial Results P3 02 Segment Performance P11 03 ESG Topics P31 04 Appendix P36 C o n t e n t s
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3 C o n t e n t s 01 3Q FY2025 Financial Results P3
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4 3Q FY2025 Financial Summary 1. Hereinafter referred to as 1-3Q Shareholder Returns ◼ Dividend ¥180/share (Full-Year) 【vs. FY2024】 up ¥6/share 【vs. Outlook as of Nov 2025】 unchanged ◼ Share Repurchase a ¥10.5 billion ¥1.5 billion (Announced in March 2025, Completed in April 2025) ¥9.0 billion (Announced in May 2025, Completed until February 2026) ◼ Total Payout Ratio Outlook 78.8% 3Q vs. 3Q FY2024 ◼ Sales up ¥8.7 billion (+15%) ◼ OP up ¥2.6 billion (+21%) ◼ Net Income up ¥1.0 billion (+9%) 1-3Q Total1 vs. 1-3Q FY2024 ◼ Sales up ¥20.6 billion (+12%) ◼ OP up ¥3.9 billion (+10%) ◼ Net Income up ¥3.3 billion (+11%) 3Q vs. 3Q Outlook as of Nov 2025 ◼ Sales above target ¥5.8 billion ◼ OP above target ¥3.4 billion ◼ Net Income above target ¥3.9 billion FY2025 Outlook ◼ FY2025 Outlook for full year remain unchanged from those announced in Nov 2025 (Outlook by segment also remain unchanged) 株主還元 25年2Qの表現を踏襲
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5 3Q FY2025 Financial Summary YOY Change (¥billion) 1. Net Income = Profit Attributable to Owners of Parent 2. EBITDA = Operating Profit + Depreciation and amortization FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Sales 118.2 56.6 174.8 130.1 65.3 195.4 +11.9 (+10%) +8.7 (+15%) +20.6 (+12%) Operating Profit 28.3 12.8 41.1 29.6 15.4 45.0 +1.3 (+4%) +2.6 (+21%) +3.9 (+10%) Non-Operating Income/Expenses -0.4 2.6 2.2 0.2 1.3 1.5 +0.6 -1.3 -0.7 Foreign exchange Gains/Losses -0.8 1.8 1.0 -0.4 0.9 0.5 +0.4 -0.9 -0.5 Ordinary Income 27.9 15.4 43.3 29.8 16.7 46.5 +1.9 (+7%) +1.3 (+9%) +3.2 (+7%) Extraordinary Income/Losses 0.8 0.0 0.8 0.0 0.0 0.0 -0.8 0.0 -0.8 Net Income1 20.5 11.2 31.7 22.8 12.2 35.0 +2.3 (+11%) +1.0 (+9%) +3.3 (+11%) EBITDA2 34.5 16.7 51.2 36.6 19.5 56.1 +2.1 +2.8 +4.9 EPS (¥/share) 148.78 81.49 230.27 168.45 90.65 259.10 +19.67 +9.16 +28.83 Dividend (¥/share) 70 - 70 70 - 70 0 - 0 Total amount of Dividend 9.6 - 9.6 9.4 - 9.4 -0.2 - -0.2 OP Margin 24.0% 22.5% 23.5% 22.8% 23.5% 23.0% -1.2pt +1.0pt -0.5pt FX Rate (¥/$) 153 152 153 146 154 149 - - -
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6 3Q FY2025 Financial Summary Compared to Outlook (¥billion) 1. Net Income = Profit Attributable to Owners of Parent 2. EBITDA = Operating Profit + Depreciation and amortization FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook 3Q 1-3Q 3Q 1-3Q 3Q Sales 59.5 189.6 65.3 195.4 +5.8 Operating Profit 12.0 41.6 15.4 45.0 +3.4 Non-Operating Income/Expenses -0.6 -0.4 1.3 1.5 +1.9 Foreign exchange Gains/Losses -0.8 -1.2 0.9 0.5 +1.7 Ordinary Income 11.4 41.2 16.7 46.5 +5.3 Extraordinary Income/Losses 0.0 0.0 0.0 0.0 0.0 Net Income1 8.3 31.1 12.2 35.0 +3.9 EBITDA2 - - 19.5 56.1 - EPS (¥/share) - - 90.65 259.10 - Dividend (¥/share) - 70 - 70 - Total amount of Dividend - 9.4 - 9.4 - OP Margin 20.2% 21.9% 23.5% 23.0% - FX Rate (¥/$) 145 146 154 149 -
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7 Analysis of Changes in OP 45.0billion 41.1billion OP increase due to sales increase in Semis Materials and Inorganic Materials (+19%) OP decrease due to sales decrease in Custom Chemicals Performance Materials Agro Chemicals Healthcare FY2025 Actual FY2024 Actual YOY Change Outlook as of Nov 2025 vs. Outlook 15.4billion +2.6billion（+21%） +3.4billion YOY Change +4.3 billion YOY Change -1.2 billion YOY Change -0.6 billion 3Q 1-3Q Performance Materials vs. Outlook +1.3 billion YOY Change +1.4 billion OP increase due to sales increase in Semis Materials OP increase due to sales increase in Semis Materials and Inorganic Materials Chemicals OP decrease due to sales decrease in FINEOXOCOL etc.YOY Change -0.2 billion Healthcare YOY Change flat 12.8billion （¥） FY2025 Actual FY2024 Actual YOY Change +3.9billion（+10%） Agro OP increase due to sales increase in GRACIA and Fluralaner etc. OP increase due to sales increase in LEIMAY and GRACIA etc.vs. Outlook +0.8 billion YOY Change +1.2 billion 12.0 billion （¥） 1. Fixed cost etc.: including inventory adjustment cost YOY Change flat vs. Outlook in line vs. Outlook +0.2 billion OP increase due to sales increase in Custom Chemicals OP decrease due to fixed cost etc.１ up despite sales increase in LEIMAY and ALTAIR etc. (-6%)
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8 Breakdown of Non-Operating Income/Expenses and Extraordinary Income/Losses YoY Change FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Interest income, dividend income 0.59 0.66 1.25 1.17 0.30 1.47 +0.58 -0.36 +0.22 Equity in earnings of affiliates 0.14 0.33 0.47 0.16 0.34 0.50 +0.02 +0.01 +0.03 Foreign exchange gains/losses1 -0.83 1.78 0.95 -0.45 0.90 0.45 +0.38 -0.88 -0.50 Interest expense -0.35 -0.14 -0.49 -0.22 -0.07 -0.29 +0.13 +0.07 +0.20 Loss on disposal of non- current assets, others 0.05 0.01 0.06 -0.46 -0.14 -0.60 -0.51 -0.15 -0.66 Non-Operating Income/Expenses -0.40 2.64 2.24 0.20 1.33 1.53 +0.60 -1.31 -0.71 Extraordinary Income 0.82 0.00 0.82 0.00 0.00 0.00 -0.82 0.00 -0.82 Extraordinary Losses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extraordinary Income/Losses 0.82 0.00 0.82 0.00 0.00 0.00 -0.82 0.00 -0.82 1. FX Rate (¥/$): 2024/3 151.40, 2024/9 142.82, 2024/12 158.17, 2025/3 149.53, 2025/9 148.89, 2025/12 156.54 （¥billion）
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9 Cash Flows Free cash flow in 1-3Q FY2025 is ¥36.5 billion, an increase of ¥2.6 billion from 1-3Q FY2024 1. Including amortization of goodwill 2. Including intangible assets FY2024 Actual FY2025 Actual YOY Change 1-3Q 1-3Q CF from operating activities 47.3 51.8 +4.5 Income before income taxes & non-controlling interests 44.2 46.5 +2.3 Extraordinary loss (income) -0.8 0.0 +0.8 Depreciation & amortization1 10.1 11.2 +1.1 Income taxes paid -11.6 -16.5 -4.9 Working capital, others 5.4 10.6 +5.2 CF from investing activities -13.4 -15.3 -1.9 Purchase of PPE2 -12.7 -13.2 -0.5 Purchase and sales of investment securities -0.1 -0.1 0.0 Others -0.6 -2.0 -1.4 Free cash flow 33.9 36.5 +2.6 CF from financing activities -27.4 -31.5 -4.1 Payout to shareholders (dividend) -22.7 -23.6 -0.9 Payout to shareholders (share repurchase) -10.0 -8.3 +1.7 Borrowings 5.3 0.6 -4.7 Others 0.0 -0.2 -0.2 Effect of exchange rate change on cash & cash equivalents -0.1 1.6 +1.7 Change in cash & cash equivalents 6.4 6.6 +0.2 Cash & cash equivalents at end of period 29.2 34.0 +4.8 （¥billion）
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10 Balance Sheets 2024/12 2025/3 2025/12 vs. 2025/3 Liabilities 101.0 94.6 94.6 0.0 Accounts payable 23.7 19.9 23.7 +3.8 Borrowings, CP & Bonds 47.7 40.5 40.9 +0.4 Others 29.6 34.2 30.0 -4.2 Net assets 228.8 236.2 245.5 +9.3 Shareholders' equity1 213.1 222.9 226.0 +3.1 Valuation difference on available-for-sale securities 7.7 7.0 10.4 +3.4 Foreign currency translation adjustment 3.9 1.8 4.0 +2.2 Non-controlling interests 3.2 2.9 3.7 +0.8 Remeasurements of defined benefit plans 0.9 1.6 1.4 -0.2 Total liabilities & net assets 329.8 330.8 340.1 +9.3 ▍Breakdown of Investment Securities 1. Change in shareholders’ equity +3.1 = Net Income 35.0 – Dividend and others 31.9 2. Net D/E Ratio = (Borrowings + Bonds + CP - Cash) / Shareholders' equity 3. 2025/3 15.6 + Acquisition 0.0 + Sales and valuation difference +4.9 = 2025/12 20.5 4. Strategic shareholdings on net assets = strategic shareholdings (Non-consolidated basis, Listed shares + Unlisted shares) / Net assets (Consolidated basis) 2024/12 2025/3 2025/12 vs. 2025/3 2018/3 Listed shares3 (Number of stocks held, Non-consolidated basis) 16.5 (24) 15.6 (24) 20.5 (24) +4.9 (0) 30.0 (55) Unlisted shares 2.2 2.3 2.4 +0.1 1.7 Subsidiaries/Associate shares 6.7 6.5 8.2 +1.7 6.8 Total 25.4 24.4 31.1 +6.7 38.5 2024/12 2025/3 2025/12 vs. 2025/3 Current assets 205.4 210.4 208.9 -1.5 Cash 29.2 27.5 34.0 +6.5 Accounts receivable 73.0 89.1 77.0 -12.1 Inventories 90.6 80.1 84.7 +4.6 Others 12.6 13.7 13.2 -0.5 Fixed assets 124.4 120.4 131.2 +10.8 Total PPE 77.9 72.4 76.6 +4.2 Intangible assets 13.0 13.5 12.9 -0.6 Investment securities 25.4 24.4 31.1 +6.7 Others 8.1 10.1 10.6 +0.5 Total assets 329.8 330.8 340.1 +9.3 （¥billion） Equity Ratio 68.4% 70.5% 71.1% Net D/E Ratio2 0.09 0.06 0.03 Strategic shareholdings on net assets4 7.4% 6.9% 8.4% 17.0% Reference
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11 C o n t e n t s 02 Segment Performance P11
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Performance Materials 12 52.8 58.8 63.0 65.5 71.6 81.7 82.6 84.6 100.1 109.7 12.5 14.2 15.0 17.0 22.4 27.6 25.4 22.5 29.3 32.1 23.7% 24.1% 23.8% 26.0% 31.3% 33.8% 30.8% 26.6% 29.3% 29.3% 0% 5% 10% 15% 20% 25% 30% 35% 40% -5.0 5.0 15.0 25.0 35.0 45.0 55.0 65.0 75.0 85.0 95.0 105.0 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025E Sales OP OP Margin Overview ▍ Performance Materials – Recent Financial Performance2・3 （¥billion） ▍ FY2025 Outlook by Segment (¥billion)1 OP Agrochemicals 95.9 Performance Materials 109.7 Chemicals 39.6Healthcare 5.3 Others 21.7 Agrochemicals 26.0 Chemicals 0.8 Healthcare 1.5 Others -1.4 Performance Materials 32.1 Sales 1. Outlook as of Nov 2025 2. FY2025- : New OP Method adopted. FY2024 Actual have been restated based on the new method (see p48). 3. Organizational changes in Healthcare and Planning and Development division were implemented in April 2022. Figures for FY2020 and before are based on the pre-restructuring organization, while figures after FY2020 reflect the post-restructuring structure. Reference Presentation for R&D of Performance Materials (June 21, 2022） 1 272.2 Agrochemicals 95.9 Performance Materials 109.7 Chemicals 39.6 59.0 Agrochemicals 26.0 Chemicals 0.8 Performance Materials 32.1 Healthcare 5.3 Others 21.7 Healthcare 1.5 Others -1.4
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Performance Materials 13 Sales Growth Rate of Main Products 1. EUV materials: Both Under Layer and Si-HM for EUV ◼ DP Materials: 【1-3Q】 Sales YOY +1％, Sales below target ◼ Semis Materials: 【1-3Q】 Sales YOY +23%, Sales above target ◼ Inorganic Materials: 【1-3Q】 Sales YOY +9%, Sales in line with target Main Products YOY Change vs. Outlook as of Nov 2025 3Q 1-3Q 3Q Total Display Materials -10% +1% Below Total Semis Materials +32% +23% Above ARC® +31% +17% Above Multi layer process materials +39% +36% Above EUV materials1 +36% +21% In line Total Inorganic Materials +9% +9% In line Total Segment +12% +12% Above
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Performance Materials 14 3Q FY2025 YOY Change (¥billion) 【3Q】 Sales & OP down 【1-3Q】 Sales & OP up 【3Q】【1-3Q】 Sales & OP up Mainly advanced materials up ARC® 【3Q】 【1-3Q】 Sales up in SNOWTEX (polishing) Inorganic Materials Semis Materials Display Materials 【3Q】 【1-3Q】 Sales & OP up Photo IPS 【3Q】 Sales flat 【1-3Q】 Sales up (large monitor up) Rubbing IPS 【3Q】【1-3Q】 Sales down VA Multi layer process materials EUV materials 【3Q】【1-3Q】 Sales down 【3Q】【1-3Q】 Sales up Fixed cost & others 【3Q】 up ¥1.0 billion 【1-3Q】 up ¥1.8 billion 【3Q】【1-3Q】 Sales up 【3Q】【1-3Q】 Sales up FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Sales 48.6 25.6 74.2 54.4 28.6 83.0 +5.8 +3.0 +8.8 OP 14.5 8.0 22.5 17.4 9.4 26.8 +2.9 +1.4 +4.3 Fixed cost & others 【3Q】 up ¥1.1 billion 【1-3Q】 up ¥2.1 billion Fixed cost & others 【1-3Q】 up ¥0.1 billion 1. FY2024 Actual have been restated based on the new method (see p48) 3D packaging process materials 【3Q】 Sales down 【1-3Q】 Sales up
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Performance Materials 15 3Q FY2025 Compared to Outlook (¥billion) Display Materials 【3Q】 Sales below target OP in line with target Photo IPS Sales in line with target Rubbing IPS Sales in line with target VA Sales below target 【3Q】 Sales & OP above target Mainly advanced materials up ARC® Sales above target in SNOWTEX (polishing) Sales below target in Oilfield materials Inorganic Materials Semis Materials 【3Q】 Sales in line with target, OP above target Multi layer process materials EUV materials Sales in line with target Sales above target Sales below target FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook 3Q 1-3Q 3Q 1-3Q 3Q Sales 27.4 81.8 28.6 83.0 +1.2 OP 8.1 25.5 9.4 26.8 +1.3 Fixed cost & others 【3Q】 less than outlook ¥0.2 billion 3D packaging process materials Sales above target
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Agrochemicals 16 52.0 58.1 62.7 64.0 63.8 65.8 81.6 82.1 86.2 95.9 13.2 16.4 18.4 19.3 18.2 18.1 23.1 23.4 25.9 26.0 25.4% 28.2% 29.3% 30.2% 28.5% 27.5% 28.3% 28.5% 30.0% 27.1% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 0.0 20.0 40.0 60.0 80.0 100.0 120.0 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025E Sales OP OP Margin Overview ▍ Agrochemicals – Recent Financial Performance2・3 （¥billion） 1. Outlook as of Nov 2025 2. FY2025- : New OP method adopted. FY2024 Actual have been restated based on the new method (see p48). 3. Organizational changes in Healthcare and Planning and Development division were implemented in April 2022. Figures for FY2020 and before are based on the pre-restructuring organization, while figures after FY2020 reflect the post-restructuring structure. 1 ▍ FY2025 Outlook by Segment (¥billion)1 OPSales 272.2 Agrochemicals 95.9 Performance Materials 109.7 Chemicals 39.6 59.0 Agrochemicals 26.0 Chemicals 0.8 Performance Materials 32.1 Healthcare 5.3 Others 21.7 Healthcare 1.5 Others -1.4
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Agrochemicals 17 Sales Growth Rate of Main Products （before discount） 1. ROUNDUP AL for general household account for 28% of total ROUNDUP sales (1-3Q FY2025 Actual) 2. VERDAD was launched in 4Q FY2024 3. Total segment sales YOY include discount Reference ROUNDUP Business Briefing （January 22, 2020） Main Products （Agro: in order of FY2024 Sales amount） Types YOY Change vs. Outlook as of Nov 2025 3Q 1-3Q 3Q ROUNDUP1 Herbicide +29% +5% Above ALTAIR Herbicide +43% +49% Above GRACIA Insecticide +76% +6% Above LEIMAY Fungicide +84% +56% Above TARGA Herbicide -68% +6% Below PERMIT Herbicide +31% +18% Above DITHANE Fungicide +52% +33% In line VERDAD2 Herbicide - - Above Fluralaner Animal Health products +30% +8% Below Total Segment3 - +32% +14% Above Animal Health Agro Agrochemicals Business Briefing （January 13, 2026） 【1-3Q】 Sales YOY +14％, Sales above target ▍GRACIA Sales Aiming at ¥10.0 billion FY2018 Actual FY2019 Actual FY2020 Actual FY2021 Actual FY2022 Actual FY2023 Actual FY2024 Actual FY2025 Outlook FY20XX Aiming at ¥12.5 billion ◼ Initial peak sales target of ¥10.0 billion was achieved in FY2024 ◼ Sales target was revised upward to ¥12.5 billion in May 2025 as of Nov 2025
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Agrochemicals 18 3Q FY2025 YOY Change （¥billion） Fixed cost & others 【3Q】 up ¥1.3 billion : including fixed cost up ¥0.5 billion and inventory adjustment cost up ¥0.8 billion 【1-3Q】 up ¥4.2 billion : including fixed cost up ¥2.1 billion (rebound from temporary decrease in expense of ¥1.2 billion in FY2024 and higher R&D expenses associated with new products development in FY2025) inventory adjustment cost up ¥2.1 billion (Increase in carryover fixed costs due to higher shipments in FY2025) 【3Q】 Sales & OP up 【1-3Q】 Sales up, OP down ROUNDUP GRACIA Fluralaner PERMIT ROUNDUP Sales up (ML: partial shipment shifted from 4Q) ALTAIR Sales up (domestic: increased demand due to a surge in rice prices) GRACIA Sales up (export: shipment skewed to 3Q in FY2025) LEIMAY Sales up (export: sales up due to increased demand in Europe) Fluralaner Sales up (API: sales up, royalties: down due to decrease in certain royalty rates) Sales up (ML: volume up due to completion of distribution inventory adjustment, partial shipment shifted from 4Q) Sales up (domestic: sales expansion) Sales up (export: sales up due to increased demand in Americas) Sales up (API: sales up due to partial shipment shifted from FY2024, royalties: down, affected by JPY appreciation and decrease in certain royalty rates) FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Sales 39.2 14.6 53.8 42.3 19.2 61.5 +3.1 +4.6 +7.7 OP 14.4 3.8 18.2 12.0 5.0 17.0 -2.4 +1.2 -1.2 LEIMAY Sales up (export: sales up due to increased demand in Europe) 1. FY2024 Actual have been restated based on the new method (see p48) PERMIT Sales up (export: sales up due to increased demand in Americas) ALTAIR Sales up (domestic: increased demand due to a surge in rice prices)
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Agrochemicals 19 3Q FY2025 Compared to Outlook （¥billion） 【3Q】 Sales & OP above target ROUNDUP Fluralaner PERMIT LEIMAY Sales above target (export: partial shipment shifted from 4Q) Sales above target (ML: partial shipment shifted from 4Q) Sales above target (export: sales up due to increased demand in Europe) Sales below target slightly (API: sales above target, royalties: sales below target) FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook as of Nov 2025 3Q 1-3Q 3Q 1-3Q 3Q Sales 16.8 59.1 19.2 61.5 +2.4 OP 4.2 16.2 5.0 17.0 +0.8 ALTAIR GRACIA Sales above target (domestic: increased demand due to a surge in rice prices) Sales above target (export: sales up due to increased demand in Americas)
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Agrochemicals 20 Main Products Existing productsNew products ・Pipeline Launch Products Application Product development type Notes 2002 ROUNDUP Herbicide Acquired Acquired domestic business from Monsanto, continuing to grow 2008 LEIMAY Fungicide In-house 2008 STARMITE Insecticide In-house 2009 PULSOR (THIFLUZAMIDE) Fungicide Acquired Acquired world business from Dow 2010 ROUNDUP AL Herbicide In-house For general household shower-type herbicide market, launched ROUNDUP ALⅡ in FY2016 and ALⅢ in FY2017 2011 ALTAIR Herbicide In-house For paddy rice. Launched in Korea in FY2011 and in Japan in FY2012 2013 Fluralaner Animal health product In-house Started to be supplied to MAH1 as the API of BRAVECTO® 2014 BRAVECTO®2 Veterinary medical product for companion animals - Launched in several countries in EU in April 2014, in USA in June 2014 and in Japan in July 2015 2017 TRANSFORM / EXCEED / VIRESCO Insecticide Licensed-in Licensed from Dow 2018 GRACIA Insecticide In-house Effective against a wide range of serious pests, having less negative impact on honeybees. Launched in Korea in FY2018, in Japan in FY2019, and In India and Indonesia in FY2021. Expanding sales countries (expected peak sales ¥12.5 billion) 2019 QUINTEC (QUINOXYFEN) Fungicide Acquired Acquired world business from Corteva. Protective fungicide highly effective in controlling powdery mildew in fruits and vegetables 2020 DITHANE (MANCOZEB) Fungicide Acquired Acquired Japan and Korea business from Corteva in December 2020. Protective fungicide with significant efficacy against various plant diseases in fruits and vegetables 2024 VERDAD (DIMESULFAZET) (NC-653) Herbicide In-house For paddy rice. Effective against resistant weeds, having excellent safety to rice (expected peak sales ¥6.0 billion) 2027 RYZONIC (IPTRIAZOPYRID) (NC-656) Herbicide In-house Our first foliar application rice herbicide with excellent efficacy against resistant grass weeds (expected peak sales ¥15.0 billion3) 2028 PREXIO (FENMEZODITIAZ) (NC-520) Insecticide Joint development Insecticide for paddy rice co-developed with BASF. Highly effective against planthoppers (expected peak sales ¥2.5 billion including mixture products) Expected peak sales of new products ¥41.0 billion3 1. MAH: MSD Animal Health, the global animal health business unit of Merck 2. BRAVECTO®: the product name developed by MAH, containing the active substance Fluralaner 3. Expected peak sales of RYZONIC were revised upward from ¥10.0 billion to ¥15.0 billion in January 2026
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Agrochemicals 21 Agrochemicals Product Portfolio Expand product portfolio through sales expansion of existing products, launching in-house developed products, acquisition and introduction of pesticides ▍Nissan Chemical Sales Distribution▍Nissan Chemical Sales Trend FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Outlook Fungicide & Insecticide others Fungicide Insecticide Herbicide Herbicide 41% Herbicide 59% Insecticide 29% Insecticide 21% Fungicide 27% Fungicide 18% 0% 25% 50% 75% 100% Total Global Market (CY2023) Nissan Chemical (FY2024) Fungicide & Insecticide others 3% Fungicide & Insecticide others 2% No.1 in the domestic agrochemicals sales ranking (Oct 2023- Sep 2024) In Agrochemical sales(excluding Fluralaner), domestic sales are higher than export sales. Distribution by Region ▍Export ratio of agrochemicals business (FY2024 Actual)1・2 Asia 56%Europe/ Africa 28% North/Central/ South America 16% Export Sales 37% Domestic Sales 63% 1. Sales before discount 2. Excluding Fluralaner as of Nov 2025
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Agrochemicals 22 API of Animal Health Product Fluralaner ◼ Developed and launched by MAH１ ◼ Veterinary medical products providing 12 weeks2 of continuous protection for dogs and cats against fleas and ticks with immediate effect, nearly 3 times longer than any monthly products in the market. ◼ Chewable tablet for dogs launched in: ⚫ April 2014 EU, thereafter, USA, Japan, etc. ⚫ July 2020 monthly chews for puppies in USA ◼ Spot-on solution for dogs and cats launched in: ⚫ July 2016 EU, thereafter, USA, Japan, etc. ◼ Injectable solution for dogs (BRAVECTO® Quantum) ⚫ Providing 12 months3 of continuous protection ⚫ Launched in Australia in June 2024, and thereafter, in Europe, etc. ⚫ Launched in USA in August 2025 ◼ Poultry medicine against red mite (administered via drinking water) ⚫ Launched in EU in 2017, thereafter, Korea, Middle East and Japan. ◼ Cattle medicine ⚫ Launched in Brazil in 2022, thereafter Mexico ◼ Sheep medicine ⚫ Launched in Australia and New Zealand in 2023 ◼ BRAVECTO® Plus ⚫ spot-on solution for cats ⚫ Launched in EU in July 2018, thereafter, USA, Japan, etc. ◼ BRAVECTO® TriUNO ⚫ Three-in-one chewable tablet for dogs ⚫ Providing 1 month of continuous protection ⚫ Approved in EU countries and Latin America in October 2024 ◼ Invented by Nissan Chemical and supplied to MAH1 as the active pharmaceutical ingredient of BRAVECTO® and EXZOLT® ◼ Currently, BRAVECTO® series and EXZOLT® are available in more than 100 countries ◼ Compound patent ⚫ Fluralaner’s compound patent expires in March 2025, but many countries have the patent term extension system • Some EU countries including UK, France, and Germany – already extended to February 2029 • USA - extended to June 2027 IV. EXZOLT® I. Fluralaner 1. MAH: MSD Animal Health, the global animal health business unit of Merck 2. 8 weeks for Rhipicephalus sanguineus ticks 3. 11 months for Rhipicephalus sanguineus ticks II. BRAVECTO® for Ecto III. BRAVECTO® for Endecto I. Fluralaner II. BRAVECTO® for external parasites (Ecto) III. BRAVECTO® for both internal and external parasites (Endecto) IV. EXZOLT® ◼ BRAVECTO® series and EXZOLT®, which contain the active pharmaceutical ingredient of Fluralaner invented by Nissan Chemical, are currently available in more than 100 countries. ◼ BRAVECTO® 's greatest feature is its effectiveness, which lasts up to 12 weeks (competing products last up to about 1 month) ◼ Long-term supply agreement with MAH1 for Fluralaner extended, joint R&D to create new animal health products (News release on April 11, 2025)
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Agrochemicals 23 Sales Trend of Fluralaner ▍Nissan Chemical’s Revenues are Consisted from Following Two Factors ・Sales of Fluralaner to MAH1 as API2 of BRAVECTO® and EXZOLT® products ・Running royalties received from MAH ▍FY2021 - FY2025 Sales Trend (including royalties) ◼ Large sales increase in FY2022 due to shipments shifted from FY2021 to FY2022 and JPY depreciation. Actual exchange rate is ¥136/$. ◼ Actual exchange rate for FY2023 is ¥145/$. ◼ Actual exchange rate for FY2024 is ¥153/$. ◼ FY2025 outlook is +12% YOY, with API sales increase by +47% due to shipments shifted from FY2024. Assumed exchange rate for 2H FY2025 is ¥145/$. ▍BRAVECTO® series R&D MAH is developing new internal and external parasiticides for pets with Fluralaner as the API, and expanding the number of the countries for existing products. ▍FY2024 - FY2025 Quarterly Sales (including royalties) 1. MAH: MSD Animal Health, the global animal health business unit of Merck 2. API: Active Pharmaceutical Ingredient FY2021 Actual FY2022 Actual FY2023 Actual FY2024 Actual FY2025 Outlook Our Fluralaner sales tend to be larger in 1H due to MAH’s BRAVECTO® and EXOLT® sales trend. FY2024 FY2025 Outlook 4Q 3Q 2Q 1Q as of Nov 2025 as of Nov 2025 +12% (API sales +47%, including partial shipment shifted from FY2024）
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Chemicals 24 Overview 34.8 34.9 35.7 34.3 31.9 37.6 39.0 35.6 37.8 39.6 3.8 3.4 3.0 1.3 1.5 3.8 1.4 0.0 0.4 0.8 10.9% 9.7% 8.4% 3.8% 4.7% 10.1% 3.6% 0.1% 1.1% 2.0% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025E Sales OP OP margin ▍ Chemicals – Recent Financial Performance2･3 （¥billion） 1. Outlook as of Nov 2025 2. FY2025- : New OP method adopted. FY2024 Actual have been restated based on the new method (see p48). 3. Organizational changes in Healthcare and Planning and Development division were implemented in April 2022. Figures for FY2020 and before are based on the pre-restructuring organization, while figures after FY2020 reflect the post-restructuring structure 1 ▍ FY2025 Outlook by Segment (¥billion)1 OPSales 272.2 Agrochemicals 95.9 Performance Materials 109.7 Chemicals 39.6 59.0 Agrochemicals 26.0 Chemicals 0.8 Performance Materials 32.1 Healthcare 5.3 Others 21.7 Healthcare 1.5 Others -1.4
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Chemicals 25 3Q FY2025 YOY Change （¥billion） FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Sales 17.9 10.2 28.1 18.8 10.1 28.9 +0.9 -0.1 +0.8 Fine Chemicals 6.3 3.4 9.7 6.8 3.2 10.0 +0.5 -0.2 +0.3 Basic Chemicals 11.6 6.8 18.4 12.0 6.9 18.9 +0.4 +0.1 +0.5 OP -0.3 0.5 0.2 -0.1 0.3 0.2 +0.2 -0.2 0.0 （¥billion） FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook 3Q 1-3Q 3Q 1-3Q 3Q Sales 10.3 29.1 10.1 28.9 -0.2 Fine Chemicals 3.1 9.9 3.2 10.0 +0.1 Basic Chemicals 7.2 19.2 6.9 18.9 -0.3 OP 0.3 0.2 0.3 0.2 0.0 【3Q】 Sales & OP down 【3Q】 Sales below target, OP in line with target 【1-3Q】 Sales up, OP flat ▍YOY Change ▍Compared to Outlook 1. FY2024 Actual have been restated based on the new method (see p48) In Fine Chemicals, OP down due to sales down in FINEOXOCOL In Basic Chemicals, OP down due to fixed costs & others up despite sales up in high purity sulfuric acid (demand increase for semiconductors) In Fine Chemicals, OP up due to sales up in FINEOXOCOL and environmental related products In Basic Chemicals, OP down due to fixed costs & others up despite sales up in high purity sulfuric acid (demand increase for semiconductors) and urea/AdBlue® In Fine Chemicals, sales above target in TEPIC In Basic Chemicals, sales below target in high purity sulfuric acid and nitric acid products
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Chemicals 26 Flow Chart of Selected Basic and Fine Chemicals Products (No change from the May 2025 announcement) sulfur urea melamine cyanurate isocyanuric acid environmental related product nitric acid TEPIC high purity sulfuric acid AdBlue®ammonia high purity ammonia chlorine sulfuric acid (Semiconductor cleaners) Domestic largest manufacturer (agent used for sterilizing, disinfectant for swimming pool and septic tanks, etc.) (general applications: painting electronic materials: solder resist, LED sealants) (flame retardant)（agent used for gallium nitride； LED materials） (solution of urea in demineralised water for diesel vehicles) production terminated in June 2022 purchase melamine from outside （adhesive agent） HI-LITE environmental related products natural gas After Aug 2016 naphtha (nitric acid, nitrous acid and nitrate of soda: metal dissolution, surface treatment, antifoam agent, etc.) Before Aug 2016 Purchased materials Basic Chemicals Fine Chemicals ◼ Core products are ammonia related products and sulfuric acid related products ◼ FY2024 ammonia domestic production capacity share 11% ◼ Focus on high value-added products, such as high purity sulfuric acid, instead of pursuing scale melamine
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Healthcare 27 8.0 7.5 7.0 7.0 6.7 6.6 6.7 6.3 6.0 5.3 1.7 1.2 1.0 0.9 0.4 2.8 3.0 2.8 1.9 1.5 21.3% 16.0% 14.3% 12.9% 6.0% 42.4% 44.8% 44.4% 31.7% 28.3% 0% 10% 20% 30% 40% 50% 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025E Sales OP OP Margin ▍ Healthcare – Recent Financial Performance2・3 （¥billion） Overview 1. Outlook as of Nov 2025 2. FY2025- : New OP method adopted. FY2024 Actual have been restated based on the new method (see p48). 3. Organizational changes in Healthcare and Planning and Development division were implemented in April 2022. Figures for FY2020 and before are based on the pre-restructuring organization, while figures after FY2020 reflect the post-restructuring structure. 1 ▍ FY2025 Outlook by Segment (¥billion)1 OPSales 272.2 Agrochemicals 95.9 Performance Materials 109.7 Chemicals 39.6 59.0 Agrochemicals 26.0 Chemicals 0.8 Performance Materials 32.1 Healthcare 5.3 Others 21.7 Healthcare 1.5 Others -1.4
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Healthcare 28 3Q FY2025 YOY Change, Compared to Outlook （¥billion） 【3Q】 Sales up, OP flat 【1-3Q】 Sales & OP down Sales up in LIVALO export, Sales down in Custom Chemicals FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Sales 3.3 1.1 4.4 2.8 1.2 4.0 -0.5 +0.1 -0.4 OP 1.3 0.4 1.7 0.7 0.4 1.1 -0.6 0.0 -0.6 ▍YOY Change 1. FY2024 Actual have been restated based on the new method (see p48). （¥billion） 【3Q】 Sales & OP above target FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook 3Q 1-3Q 3Q 1-3Q 3Q Sales 1.0 3.8 1.2 4.0 +0.2 OP 0.2 0.9 0.4 1.1 +0.2 Sales above target in Custom Chemicals ▍Compared to Outlook
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29 3Q FY2025 Financial Results YOY Change by Segment （¥billion） FY2024 Actual FY2025 Actual YOY Change 1H 3Q 1-3Q 1H 3Q 1-3Q 1H 3Q 1-3Q Performance Materials Sales 48.6 25.6 74.2 54.4 28.6 83.0 +5.8 (+12%) +3.0 (+12%) +8.8 (+12%) OP 14.5 8.0 22.5 17.4 9.4 26.8 +2.9 (+20%) +1.4 (+18%) +4.3 (+19%) Agrochemicals Sales 39.2 14.6 53.8 42.3 19.2 61.5 +3.1 (+8%) +4.6 (+32%) +7.7 (+14%) OP 14.4 3.8 18.2 12.0 5.0 17.0 -2.4 (-17%) +1.2 (+34%) -1.2 (-6%) Chemicals Sales 17.9 10.2 28.1 18.8 10.1 28.9 +0.9 (+5%) -0.1 (-1%) +0.8 (+3%) OP -0.3 0.5 0.2 -0.1 0.3 0.2 +0.2 (-) -0.2 (-33%) 0.0 (+16%) Healthcare Sales 3.3 1.1 4.4 2.8 1.2 4.0 -0.5 (-14%) +0.1 (+1%) -0.4 (-10%) OP 1.3 0.4 1.7 0.7 0.4 1.1 -0.6 (-46%) 0.0 (0%) -0.6 (-36%) Trading, Others, Adjustment Sales 9.2 5.1 14.3 11.8 6.2 18.0 +2.6 +1.1 +3.7 OP -1.6 0.1 -1.5 -0.4 0.3 -0.1 +1.2 +0.2 +1.4 Total Sales 118.2 56.6 174.8 130.1 65.3 195.4 +11.9 (+10%) +8.7 (+15%) +20.6 (+12%) OP 28.3 12.8 41.1 29.6 15.4 45.0 +1.3 (+4%) +2.6 (+21%) +3.9 (+10%) 1. Including inter-segment sales/transfers 2. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (added as consolidated subsidiaries from FY2024), Nihon Hiryo ,and others Adjustment: Planning & Development Division and others (see p46, p47 for breakdown) 3. FY2024 Actual have been restated based on the new method (see p48)
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30 3Q FY2025 Financial Results Compared to Outlook by Segment （¥billion） FY2025 Outlook as of Nov 2025 FY2025 Actual vs. Outlook 3Q 1-3Q 3Q 1-3Q 3Q Performance Materials Sales 27.4 81.8 28.6 83.0 +1.2 OP 8.1 25.5 9.4 26.8 +1.3 Agrochemicals Sales 16.8 59.1 19.2 61.5 +2.4 OP 4.2 16.2 5.0 17.0 +0.8 Chemicals Sales 10.3 29.1 10.1 28.9 -0.2 OP 0.3 0.2 0.3 0.2 0.0 Healthcare Sales 1.0 3.8 1.2 4.0 +0.2 OP 0.2 0.9 0.4 1.1 +0.2 Trading, Others, Adjustment Sales 4.0 15.8 6.2 18.0 +2.2 OP -0.8 -1.2 0.3 -0.1 +1.1 Total Sales 59.5 189.6 65.3 195.4 +5.8 OP 12.0 41.6 15.4 45.0 +3.4 1. Including inter-segment sales/transfers 2. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (added as consolidated subsidiaries from FY2024), Nihon Hiryo ,and others, Adjustment: Planning & Development Division and others (see p46, p47 for breakdown)
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31 C o n t e n t s 03 ESG Topics P31
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32 December 2025 Updated and disclosed “Corporate Governance Report " Two female Outside Directors appointed (re-elected), as a result, the Board of Directors includes 4 Outside Directors out of 10 One female Outside Audit & Supervisory Board Member appointed (newly elected), as a result, the Board of Audit & Supervisory includes 3 Outside Directors out of 4 Announced incorporating ESG indicators into the officers’ remuneration system (65% base remuneration, 28% performance-related remuneration, 7% remuneration in stock. Out of the 28% performance-related remuneration, 90% is profit-linked and 10% is ESG-linked.) ESG E (Environment） S （Social） G (Governance） Announced its Diversity Statement and Diversity VisionApril 2021 October 2025 June 2022 Reduced GHG emissions by melamine production stop (26,000 tons, equivalent to about 7% of FY2018) Established Nomination and Remuneration Advisory Committee as an optional advisory body of the Board of DirectorsApril 2019 June 2019 Introduced a performance-linked stock compensation plan called a Board Benefit Trust for Board of Directors, etc. Published “Integrated Report 2025 ” Decided to work on realization of carbon neutrality by 2050 Established new long-term target for reducing greenhouse gas (GHG) emissions(see p35)May 2022 June 2022 June 2022 Established Climate Change Committee June 2025
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33 ◼ January 2023 Acquired for 2 consecutive years ESG Index and Third-party Recognition Certified Health & Productivity Management Organization (White 500) S&P/JPX Carbon Efficient Index Participation in External Initiatives Dow Jones Sustainability Asia Pacific Index “Childcare Support Company” Kurumin FTSE MSCI ◼ December 2024 Selected as a constituent for 7 consecutive years ◼ June 2025 Selected as a constituent for 7 consecutive years ◼ June 2025: Selected as a constituent of FTSE4Good Index Series, FTSE Blossom Japan Index for 6 consecutive years ◼ June 2025: Selected as a constituent of FTSE Blossom Japan Sector Relative Index for 4 consecutive years 1. FTSE Russell confirms that Nissan Chemical has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. The FTSE Blossom Japan Sector Relative Index is used by a wide variety of market participants to create and assess responsible investment funds and other products. ◼ May 2025: Upgraded from A to AA (MSCI ESG Rating) ◼ June 2025: Selected as a constituent of MSCI Nihonkabu ESG Select Leaders Index for 2 consecutive years 2. THE INCLUSION OF NISSAN CHEMICAL CORPORATION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF NISSAN CHEMICAL CORPORATION BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES. ◼ March 2025: Acquired for 9 consecutive years Morningstar ◼ December 2025: Selected as a constituent of Japan ex-REIT Gender Diversity Tilt Index for 3 consecutive years CDP ◼ January 2026: Selected as A List for CDP Water Security
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34 Specified materiality that we should engage to realize corporate image of 2027. Aim to have sustainable growth with society by promoting initiatives. Provision of New Value for Helping to Enrich People’s Lives Strengthening of Nissan Chemical’s Business Base Continuous Improvement of Responsible Care Activities 1 2 3 Nissan Chemical Sustainable Agenda1 Rate of total sales of products and services that contribute to solving social issues in consolidated net sales 60% or more 1. A plan to pursue “what we can do for the future of the globe and human ”by providing products and services that contribute to solving social issues GHG Emission Target Reduced by 30% or more compared to FY2018 Our Materiality Strengthening of Corporate Governance, Risk Management and Compliance Promote Diversity Proportion of female researchers 18% or more Materiality (revised in Vista2027 Stage II) (No change from the May 2025 announcement) Personnel retention and trainings Positive response rate in survey of employee attitude 65% or more (revised upward from maintain at least 55%)
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35 ◼ Focus on improving production technology and adopting renewable energy etc., in addition to conventional efforts, to achieve carbon neutrality by 2050 ◼ GHG emissions target for FY2027: Reduce by at least 30% compared to FY2018 (SCOPE1+2, non-consolidated basis) Reduction of GHG Emissions 363 327 318 345 328 285 278 0 100 200 300 400 FY2018 Actual FY2019 Actual FY2020 Actual FY2021 Actual FY2022 Actual FY2023 Actual FY2024 Actual FY2027 Target (Thousands of tons of -CO2e) ◼ Zero N2O emissions from nitric acid plants (Planned investment of ¥830 million, variable cost of ¥70 million/year) ◼ Melamine production shutdown ◼ Converting fuels at Onoda Plant ◼ Promoting reduction of GHG emissions through full-scale introduction of ICP ◼ Reduction of CFC equipment ◼ Upgrade to energy-efficient equipment Initiatives in Medium-Term Plan Vista2027 (FY2022-2027) △30% FY 2019 2020 2021 2022 2023 2024 Nissan Chemical (consolidated basis) 346 337 364 346 305 315 Average of 4 major general chemical manufacturers (consolidated basis) 9,275 8,928 9,226 8,390 7,803 7,691 ▍Comparison of GHG emissions with general chemical manufacturers （Thousands of tons -CO2e）
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36 C o n t e n t s 04 Appendix P36
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37 Medium-Term Plan Vista2027 Stage II (FY2025-2027) （announced in May 2025) （¥billion） （¥billion） 1. Net Income = Profit Attributable to Owners of Parent 2. EBITDA = Operating Profit + Depreciation and amortization 3. Net D/E Ratio = (Borrowings + Bonds + CP – Cash) / Shareholders’ equity 4. The figures of Planning and Development Division are internal figures of Trading, Others, Adjustment 5. The figures in Medium-Term Plan don’t include the impact of future strategic investments (M&A) 6. FY2025- : New OP method adopted FY2024 Actual have been restated based on the new method (see p48) ▍PL ▍Segment FY2024 Actual FY2025 Outlook as of Nov 2025 FY2027 Mid-Term Plan FY2027 previous Mid-Term Plan Sales 251.4 277.2 293.0 285.0 Operating Profit 56.8 59.0 65.0 67.0 Ordinary Income 58.0 59.0 65.5 68.0 Net Income1 43.0 44.0 48.0 50.0 EBITDA2 71.2 74.9 83.4 - EPS(¥/share) 313.26 328.22 366.28 371.67 Equity Ratio 70.5% - 71.9% - Net D/E Ratio3 0.06 - 0.05 - （Financial Target） FY2024 Actual FY2025～FY2027 Mid-Term Plan FY2027 previous Mid-Term Plan OP Margin 22.6% 20% or more 20% or more ROE 18.7% 18% or more 18% or more Dividend Payout Ratio 55.5% 55% or more 55% or more Total Payout Ratio 82.0% 75% or more 75% or more FX Rate （¥/$） 153 FY2025：146 FY2026～2027：140 FY2024 Actual FY2025 Outlook as of Nov 2025 FY2027 Mid-Term Plan FY2027 previous Mid-Term Plan Performance Materials Sales 100.1 109.7 122.4 117.2 OP 29.3 32.1 34.2 38.0 Agrochemicals Sales 86.2 95.9 97.5 82.3 OP 25.9 26.0 25.9 21.0 Chemicals Sales 37.8 39.6 43.7 40.1 OP 0.4 0.8 2.4 3.9 Healthcare Sales 6.0 5.3 6.4 11.5 OP 1.9 1.5 2.4 4.3 Trading, Others, Adjustment Sales 21.3 21.7 23.0 33.9 OP -0.7 -1.4 0.1 -0.2 Planning and Development4 Sales 0.3 0.1 1.1 4.4 OP -4.9 -5.6 -5.0 -4.7 Total Sales 251.4 272.2 293.0 285.0 OP 56.8 59.0 65.0 67.0 （¥billion）
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38 ROE Trend (Fiscal Year) (¥billion) 1. as of Nov 2025 1 ◼ Position ROE as the most important financial indicator for a long time ◼ Medium-Term Plan FY2025-2027 Target: 18% or more ◼ FY2024 Actual: 18.7% 15.5 10.1 12.8 13.0 11.0 13.9 16.7 18.2 22.4 24.0 27.1 29.4 30.8 33.5 38.8.041.1 38.0 43.0 44.0 15.6% 10.3% 12.6%11.9% 9.5% 11.4% 12.7% 12.7% 14.6%15.1% 16.1%16.6%16.9%17.5% 19.2% 19.4% 17.1% 18.7%18.5% 0% 5% 10% 15% 20% 0.0 10.0 20.0 30.0 40.0 50.0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Net Income (left axis) ROE (right axis) ◼ Mid-Term Plan FY2019-2021 Target : Maintain above 16% ⇒ Achieved
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39 4.1 4.1 4.3 4.9 5.7 6.8 7.9 10.2 12.1 13.1 15.0 17.3 23.1 22.8 23.8 24.2 2.8 0.0 5.0 5.0 6.0 9.0 9.0 9.0 9.0 10.0 10.0 12.0 9.0 10.0 11.5 10.5 53% 37% 67% 59% 64% 71% 70% 71% 72% 75% 75% 76% 78% 86% 82% 79% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0 10 20 30 40 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Share Repurchase Amount (composition of Net Income) (left axis) Total Dividend Amount (composition of Net Income) (left axis) Total Payout Ratio (right axis) （21%） （36%） （30%） （32%） （40%） （37%） （33%） （30%） （32%） （30%） （32%） （37%） （31%） （29%） （32%） （31%） （33%） (38%） （42%） （43%） （45%） （22%） （56%） （31%） Shareholders Return Policy - Total Payout Ratio ◼ Medium-Term Plan FY2025-2027 Target: 75% or more ◼ FY2024 Actual: 82.0% (Fiscal Year) (¥billion) （45%） （60%） （26%） ◼ Maintain an aggressive shareholders return policy ◼ Mid-Term Plan FY2019-2021 Target : 72.5% in FY2019, 75% after FY2020 ⇒ Achieved （24%） （55%） （56%） （26%） 1. as of Nov 2025 1
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40 Shareholders Return Policy – Dividend Payout Ratio 累進配当的なコメント ◼ Increase Dividend Payout Ratio Target to 55% from 45% in Medium-Term Plan (announced in May 2022) ◼ Current Medium-Term Plan (FY2025-2027) target: 55% or more ◼ Stable and continuous dividend policy ◼ Maintained Dividend at the same amount (¥164/share) despite FY2023 Profit down from FY2022 ◼ Dividend for FY2024 (¥174/share), FY2025 Outlook (¥180/share), increase for 2 consecutive years (¥/share) (Fiscal Year) 75.94 64.52 83.74 102.11 113.99 143.37 156.97 180.30 197.67 210.09 231.73 271.88 291.36 272.82 313.26 328.22 24 24 26 30 36 44 52 68 82 90 104 122 164 164 174 180 31.6% 37.2% 31.0% 29.4% 31.6% 30.7% 33.1% 37.7% 41.5% 42.8% 44.9% 44.9% 56.3% 60.1% 55.5% 54.8% 0% 20% 40% 60% 0 100 200 300 400 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E EPS (left axis) Dividend/Share (left axis) Dividend Payout Ratio (right axis) 1. Outlook as of Feb 2025 1 ◼ Gradually increased from 30.7% in FY2015 to 44.9% in FY2021 1. as of Nov 2025
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41 Shareholders Return Policy - Share Repurchase Fiscal Year 2006 2007 2008 2010 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total Shares purchased (thousand shares)1 3,500 3,399 7,355 2,167 6,372 3,263 2,764 3,333 2,621 2,292 1,682 2,138 1,829 2,033 1,356 1,665 2,335 50,104 Purchase costs (¥billion)1 4.7 5.0 8.0 2.8 5.0 5.0 6.0 9.0 9.0 9.0 9.0 10.0 10.0 12.0 9.0 10.0 11.5 135.0 Shares cancelled (thousand shares) 3,000 3,635 7,000 3,000 6,000 4,000 3,000 2,000 2,000 3,000 2,000 3,000 1,000 2,000 1,700 2,500 2,000 50,835 Shares issued at FY end (million shares) 185 181 174 171 165 161 158 156 154 151 149 146 145 143 141 139 137 - Treasury shares at FY end (thousand shares)2 1,367 1,233 1,660 885 1,258 522 287 1,621 2,242 1,535 1,218 523 1,352 1,384 1,029 187 518 - Total payout ratio(%) (dividend + share repurchase) 60 56 118 53 67 59 64 71 70 71 72 75 75 76 78 86 82 - Fiscal Year 2020 2021 2022 2023 2024 2025 1H 2H Total 1H 2H Total 1H 2H Total 1H 2H Total 1H 2H Total Total Shares purchased (thousand shares)1 1,334 495 1,829 1,262 771 2,033 683 673 1,356 805 860 1,665 1,061 1,274 2,335 2,865 Purchase costs (¥billion)1 7.0 3.0 10.0 7.0 5.0 12.0 5.0 4.0 9.0 5.0 5.0 10.0 5.0 6.5 11.5 10.5 Shares cancelled (thousand shares) 3 1,000 0 1,000 2,000 0 2,000 1,700 0 1,700 1,500 1,000 2,500 1,000 1,000 2,000 1,000 ◼ Started share repurchase in FY2006 only to enhance ROE ◼ Repurchased ¥135.0 billion, 50.10 million shares (26.7% of shares issued) in total from FY2006 to FY2024 ◼ Cancelled all repurchased shares. Continue to strengthen shareholders return through share repurchase ◼ Completed a ¥1.5 billion share repurchase in April 2025, completed a ¥9.0 billion share repurchase until February 2026 announced in May 2025 (¥10.5 billion in total) ▍FY2006 - 2024 Shareholders Return (no share repurchase in FY2009 and FY2011) ▍FY2020 - 2025 Share Repurchase and Cancel Program 1. Excluding share acquisitions for performance-based compensation 2. Including share acquisitions for performance-based compensation 3. The Date of Cancellation in FY2025 is November 10 ▍Cash Management Policy (Non-consolidated basis) Level of Target Cash Balance= Minimum required level + 1/3 of annual scheduled long-term borrowings repayment + 1/3 of short-term borrowings outstanding + Contingent risk reserves
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42 R&D Expenses Trend 12.6 13.6 13.7 14.2 15.0 15.8 16.1 17.2 17.8 17.2 16.5 16.0 16.8 17.3 19.1 22.1 8.2% 9.2% 8.9% 8.7% 8.7% 8.9% 8.9% 8.9% 8.7% 8.3% 7.9% 7.7% 7.4% 7.6% 7.6% 8.1% 0% 2% 4% 6% 8% 10% 0.0 10.0 20.0 30.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E R&D expenses(left axis) R&D expenses/sales(right axis) ◼ R&D expenses increased in Performance Materials, especially Semis, and Agrochemicals ◼ Maintain about 7-9% R&D expenses/sales in recent years (¥billion) (Fiscal Year) 1. as of Nov 2025 1 ◼ Value R&D as a future-creating enterprise that responds to social needs with unique, innovative technologies ◼ Temporary decrease in R&D expenses in FY2020 and FY2021 due to COVID-19 2. A change in the calculation method for partial expenses of Planning & Development Division was implemented in FY2025, FY2024 Actual was restated
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43 R&D Investment Philosophy FY2024 Actual Segments Sales (¥billion) OP (¥billion) OP Margin R&D expenses (¥billion) R&D Expenses/Sales Performance Materials 100.1 29.3 29.3% 8.3 8.3% Agrochemicals 86.2 25.9 30.0% 4.5 5.2% Others1 - - - 6.3 - Total (including Others1) 251.4 56.8 22.6% 19.1 7.6% ▍R&D Expenses by Segment ◼ Achieve high OP margin despite aggressive investment in R&D ◼ About 40% of professional staff engaged in R&D 1. Including Planning and Development Div. , Chemicals and Healthcare ▍Professional Staff Distribution ▍Researchers R&D 470 Others 835 Chemicals 5 Performance Materials 210 Agrochemicals 105 Healthcare 20 Planning and Development Div. and Others 130 Total:1,305 （as of Sep 2025） Total:470 （as of Sep 2025） 2. The stuff number indicated is round number ▍Professional Staff Distribution ▍Researchers
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44 Long-term Financial Performance Trend 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Sales 174.4 169.2 160.2 149.0 154.2 148.6 153.8 163.7 171.2 176.9 180.3 193.4 204.9 206.8 209.1 208.0 228.1 226.7 251.4 272.2 Operating Profit 20.8 24.8 17.4 19.2 19.8 15.5 19.5 22.2 25.3 28.6 31.4 35.0 37.1 38.6 42.5 51.0 52.3 48.2 56.8 59.0 Ordinary Income 21.2 24.4 16.9 19.2 19.4 15.9 20.5 23.7 26.4 29.5 31.7 36.2 39.1 40.0 43.9 53.7 55.8 51.6 58.0 59.0 Net Income 14.0 15.5 10.1 12.8 13.0 11.0 13.9 16.7 18.2 22.4 24.0 27.1 29.4 30.8 33.5 38.8 41.1 38.0 43.0 44.0 EBITDA 30.5 34.5 27.6 30.1 30.3 25.9 29.1 30.8 33.8 38.3 40.3 45.5 48.0 49.2 53.0 61.2 63.3 62.0 71.2 74.9 OP Margin 12.0% 14.6% 10.9% 12.8% 12.9% 10.4% 12.7% 13.6% 14.8% 16.2% 17.4% 18.1% 18.1% 18.7% 20.3% 24.5% 22.9% 21.3% 22.6% 21.7% ROE 14.7% 15.6% 10.3% 12.6% 11.9% 9.5% 11.4% 12.7% 12.7% 14.6% 15.1% 16.1% 16.6% 16.9% 17.5% 19.2% 19.4% 17.1% 18.7% 18.5% EPS (¥/share) 75.43 85.15 57.26 74.00 75.94 64.52 83.74 102.11 113.99 143.37 156.97 180.30 197.67 210.09 231.73 271.88 291.36 272.82 313.26 328.22 Dividend (¥/share) 20 20 22 24 24 24 26 30 36 44 52 68 82 90 104 122 164 164 174 180 Dividend Payout Ratio 26.5% 23.5% 38.4% 32.4% 31.6% 37.2% 31.0% 29.4% 31.6% 30.7% 33.1% 37.7% 41.5% 42.8% 44.9% 44.9% 56.3% 60.1% 55.5% 54.8% Share Repurchase 4.7 5.0 8.0 ‐ 2.8 - 5.0 5.0 6.0 9.0 9.0 9.0 9.0 10.0 10.0 12.0 9.0 10.0 11.5 - Total Assets 177.3 172.7 172.3 181.4 183.4 190.1 199.2 208.0 223.9 228.2 231.7 246.0 247.0 249.5 265.5 279.7 298.7 323.5 330.8 - Net Assets 99.3 101.2 96.8 107.7 112.4 119.6 126.7 137.8 151.3 156.9 163.7 176.4 182.1 185.5 200.6 208.0 221.5 230.9 236.2 - Cash 11.0 7.6 9.7 14.8 21.1 27.9 31.9 30.8 31.3 35.3 35.7 37.7 36.2 30.6 32.4 34.7 29.6 22.7 27.5 - Liabilities with Interest 32.4 34.4 45.5 42.1 39.9 38.9 38.1 36.1 35.1 33.1 30.8 28.6 26.6 24.6 22.7 22.7 27.3 41.0 40.5 - Equity Ratio 55.3% 58.0% 55.5% 58.7% 60.7% 62.4% 63.0% 65.7% 66.9% 68.1% 69.9% 71.0% 73.0% 73.7% 74.9% 73.6% 73.1% 70.3% 70.5% - Capex 7.7 13.8 10.7 14.4 8.7 8.9 8.1 9.1 8.7 9.5 13.5 14.4 9.9 15.5 14.3 12.4 19.4 20.2 17.6 21.5 Depreciation 9.7 9.7 10.2 11.0 10.4 10.5 9.5 8.5 8.5 9.7 8.9 10.5 10.9 10.5 10.4 10.2 11.0 13.8 14.4 15.9 R&D Expenses 9.9 12.5 13.7 13.1 12.6 13.6 13.7 14.2 15.0 15.8 16.1 17.2 17.8 17.2 16.5 16.0 16.8 17.3 19.1 22.1 R&D Expenses/Sales 5.7% 7.4% 8.6% 8.8% 8.2% 9.2% 8.9% 8.7% 8.7% 8.9% 8.9% 8.9% 8.7% 8.3% 7.9% 7.7% 7.4% 7.6% 7.6% 8.1% (¥billion) 1. FY2021- : Including effects of changes in accounting policies 2. FY2024- : R&D expenses include some costs of the Planning & Development division 3. Capex: Cash flows basis 4. FY2025E: Outlook as of Nov 2025.
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45 Sales and OP Trend by Segment 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Performance Materials 42.8 49.4 51.8 52.8 58.8 63.0 65.5 71.6 81.7 82.6 84.6 100.1 109.7 Agrochemicals 39.1 45.7 47.5 52.0 58.1 62.7 64.0 63.8 65.8 81.6 82.1 86.2 95.9 Chemicals 35.5 34.3 34.3 34.8 34.9 35.7 34.3 31.9 37.6 39.0 35.6 37.8 39.6 Healthcare 11.6 8.8 8.7 8.0 7.5 7.0 7.0 6.7 6.6 6.7 6.3 6.0 5.3 Trading 50.7 54.4 55.6 55.2 59.5 67.9 67.9 69.8 80.4 99.1 103.8 117.2 121.6 Others 21.4 20.9 20.9 24.0 21.5 24.6 22.4 23.8 23.6 26.4 30.1 29.2 31.8 Adjustment -37.4 -42.3 -41.9 -46.5 -46.9 -56.0 -54.3 -58.5 -87.7 -107.3 -115.8 -125.1 -133.7 Total 163.7 171.2 176.9 180.3 193.4 204.9 206.8 209.1 208.0 228.1 226.7 251.4 272.2 Performance Materials 8.8 12.0 12.0 12.5 14.2 15.0 17.0 22.4 27.6 25.4 22.5 29.3 32.1 65.9 Agrochemicals 6.2 9.2 10.8 13.2 16.4 18.4 19.3 18.2 18.1 23.1 23.4 25.9 26.0 115.2 Chemicals 1.9 1.9 3.9 3.8 3.4 3.0 1.3 1.5 3.8 1.4 0.0 0.4 0.8 33.5 Healthcare 4.9 2.3 2.0 1.7 1.2 1.0 0.9 0.4 2.8 3.0 2.8 1.9 1.5 8.5 Trading 1.5 1.7 1.8 1.7 1.8 2.0 2.1 2.5 2.9 3.7 3.7 4.1 3.6 44.7 Others 0.8 0.6 0.5 1.0 0.6 0.9 0.7 0.8 0.7 0.9 0.6 0.6 1.5 20.6 Adjustment -1.9 -2.4 -2.4 -2.5 -2.6 -3.2 -2.7 -3.3 -4.9 -5.2 -4.8 -5.4 -6.5 42.4 Total 22.2 25.3 28.6 31.4 35.0 37.1 38.6 42.5 51.0 52.3 48.2 56.8 59.0 330.8 Performance Materials 20.6% 24.3% 23.2% 23.7% 24.1% 23.8% 26.0% 31.3% 33.8% 30.8% 26.6% 29.3% 29.3% 44.5% Agrochemicals 15.9% 20.1% 22.7% 25.4% 28.2% 29.3% 30.2% 28.5% 27.5% 28.3% 28.5% 30.0% 27.1% 22.5% Chemicals 5.4% 5.5% 11.4% 10.9% 9.7% 8.4% 3.8% 4.7% 10.1% 3.6% 0.1% 1.1% 2.0％ 1.2％ Healthcare 42.2% 26.1% 23.0% 21.3% 16.0% 14.3% 12.9% 6.0% 42.4% 44.8% 44.4% 31.7% 28.3% 22.4% Trading 3.0% 3.1% 3.2% 3.1% 3.0% 2.9% 3.1% 3.6% 3.6% 3.7% 3.6% 3.5% 3.0% 9.2% Others 3.7% 2.9% 2.4% 4.2% 2.8% 3.7% 3.1% 3.4% 3.0% 3.4% 2.0% 2.1% 4.7% 2.9% Total 13.6% 14.8% 16.2% 17.4% 18.1% 18.1% 18.7% 20.3% 24.5% 22.9% 21.3% 22.6% 21.7% 17.2% ▍OP (B) ▍OP Margin (B)/(A) ▍Sales (A) ▍Segment Assets (FY2024)(D) ▍ROA(FY2024) (B)/(D) 1. Including inter-segment sales/transfers 3. FY2021: Including Sales decrease due to changes in accounting policies 4. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (Added as a consolidated subsidiary from FY2024), Nihon Hiryo Adjustment: Planning & Development Division and others 6. Organizational changes in Healthcare and Planning and Development division were implemented in April 2022. Figures for FY2020 and before are based on the pre-restructuring organization, while figures after FY2020 reflect the post-restructuring structure. 7. FY2025E: Outlook as of Nov 2025 2. FY2019- : Consolidation items (such as unrealized gain on inventories) were included in each segment until FY2018, but are included in “Adjustment” from FY2019 5. FY2025- : New OP method adopted FY2024 Actual have been restated based on the new method (see p48) (¥billion)
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46 1. Including inter-segment sales/transfers 2. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (Added as a consolidated subsidiary from FY2024), Nihon Hiryo Adjustment: Planning & Development Division and others Quarterly Sales Trend by Segment (FY2022 - 3Q FY2025) (¥billion) FY2022 Actual FY2023 Actual FY2024 Actual FY2025 Actual 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Performance Materials 21.8 20.2 20.6 20.0 82.6 20.8 19.7 21.4 22.7 84.6 23.5 25.1 25.6 25.9 100.1 25.9 28.5 28.6 Agrochemicals 19.7 16.0 13.1 32.8 81.6 18.8 16.5 13.2 33.6 82.1 20.4 18.8 14.6 32.4 86.2 26.6 15.7 19.2 Chemicals 10.4 9.4 10.1 9.1 39.0 9.1 8.8 9.6 8.1 35.6 8.9 9.0 10.2 9.7 37.8 9.3 9.5 10.1 Fine Chemicals 4.2 3.5 3.3 2.8 13.8 3.0 3.0 3.0 2.6 11.6 3.1 3.2 3.4 3.2 12.9 3.4 3.4 3.2 Basic Chemicals 6.2 5.9 6.8 6.3 25.2 6.1 5.8 6.6 5.5 24.0 5.8 5.8 6.8 6.5 24.9 5.9 6.1 6.9 Healthcare 1.7 1.5 1.6 1.9 6.7 2.0 1.5 1.3 1.5 6.3 1.5 1.8 1.1 1.6 6.0 1.6 1.2 1.2 Trading 23.7 24.0 27.0 24.4 99.1 24.3 24.5 28.3 26.7 103.8 27.5 28.8 30.8 30.1 117.2 30.0 28.8 35.7 Others 6.5 5.9 6.7 7.3 26.4 6.4 5.9 6.0 11.8 30.1 6.3 5.7 8.8 8.4 29.2 7.9 6.9 7.7 Adjustment -25.5 -25.8 -29.4 -26.6 - 107.3 -26.5 -26.1 -30.2 -33.0 -115.8 -29.4 -29.7 -34.5 -31.5 -125.1 -31.4 -30.4 -37.2 Total 58.3 51.2 49.7 68.9 228.1 54.9 50.8 49.6 71.4 226.7 58.7 59.5 56.6 76.6 251.4 69.9 60.2 65.3 FY2025 Outlook as of Nov 2025 3Q 4Q 27.4 27.9 16.8 36.8 10.3 10.5 3.1 3.5 7.2 7.0 1.0 1.5 31.1 31.7 7.5 9.5 -34.6 -35.3 59.5 82.6 3Q 4Q Total
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47 Quarterly OP Trend by Segment (FY2022 - 3Q FY2025) (¥billion) FY2022 Actual FY2023 Actual FY2024 Actual FY2025 Actual 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q Performance Materials 7.9 6.0 6.9 4.6 25.4 6.5 4.6 6.3 5.1 22.5 7.1 7.4 8.0 6.8 29.3 8.2 9.2 9.4 Agrochemicals 6.8 5.3 3.1 7.9 23.1 6.6 5.0 2.9 8.9 23.4 7.0 7.4 3.8 7.7 25.9 8.6 3.4 5.0 Chemicals 1.7 -0.6 0.4 -0.1 1.4 0.9 -1.0 0.4 -0.3 0.0 0.7 -1.0 0.5 0.2 0.4 0.7 -0.8 0.3 Healthcare 0.8 0.7 0.6 0.9 3.0 1.1 0.7 0.5 0.5 2.8 0.6 0.7 0.4 0.2 1.9 0.5 0.2 0.4 Trading 1.0 0.9 1.0 0.8 3.7 0.9 0.9 1.0 0.9 3.7 1.0 1.0 1.1 1.0 4.1 1.1 0.9 0.9 Others 0.1 0.0 0.2 0.6 0.9 0.2 0.0 -0.3 0.7 0.6 0.1 -0.1 0.1 0.5 0.6 0.5 0.3 0.2 Adjustment -1.0 -1.4 -1.6 -1.2 -5.2 -1.2 -1.1 -1.5 -1.0 -4.8 -2.1 -1.5 -1.1 -0.7 -5.4 -1.5 -1.7 -0.8 Total 17.3 10.9 10.6 13.5 52.3 15.0 9.1 9.3 14.8 48.2 14.4 13.9 12.8 15.7 56.8 18.1 11.5 15.4 FY2025 Outlook as of Nov 2025 3Q 4Q 8.1 6.6 4.2 9.8 0.3 0.6 0.2 0.6 0.8 0.8 0.0 0.7 -1.6 -1.7 12.0 17.4 1. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (Added as a consolidated subsidiary from FY2024), Nihon Hiryo Adjustment: Planning & Development Division and others 2. FY2025- : New OP method adopted. FY2024 Actual have been restated based on the new method (see p48).
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48 FY2024 Actual (old method basis) FY2024 Actual (new method basis) Change 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total Performance Materials 7.0 7.4 7.9 6.7 29.0 7.1 7.4 8.0 6.8 29.3 +0.1 0.0 +0.1 +0.1 +0.3 Agrochemicals 6.9 7.3 3.7 7.7 25.6 7.0 7.4 3.8 7.7 25.9 +0.1 +0.1 +0.1 0.0 +0.3 Chemicals 0.7 -1.1 0.5 0.1 0.2 0.7 -1.0 0.5 0.2 0.4 0.0 +0.1 0.0 +0.1 +0.2 Healthcare 0.6 0.7 0.3 0.3 1.9 0.6 0.7 0.4 0.2 1.9 0.0 0.0 +0.1 -0.1 0.0 Trading 1.0 1.0 1.1 1.0 4.1 1.0 1.0 1.1 1.0 4.1 0.0 0.0 0.0 0.0 0.0 Others 0.1 -0.1 0.1 0.5 0.6 0.1 -0.1 0.1 0.5 0.6 0.0 0.0 0.0 0.0 0.0 Adjustment -1.9 -1.3 -0.8 -0.6 -4.6 -2.1 -1.5 -1.1 -0.7 -5.4 -0.2 -0.2 -0.3 -0.1 -0.8 Total 14.4 13.9 12.8 15.7 56.8 14.4 13.9 12.8 15.7 56.8 0.0 0.0 0.0 0.0 0.0 1. Trading: Nissei Corporation, Others: Nissan Butsuryu, Nissan Green & Landscape, Nissan Engineering, NC Tokyo Bay, Nippon Polytech (Added as a consolidated subsidiary from FY2024), Nihon Hiryo Adjustment: Planning & Development Division and others Changes in calculation methods of OP by segment ◼ From FY2025, OP by segment is calculated using a new method ◼ In the new method, some costs and others of DX and the Planning & Development division, which were previously allocated to each segment, are excluded from the segments and included in “Adjustment” ◼ The FY2024 Actual have been restated based on the new method, and the impact of this change is outlined below (¥billion)
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49 Segment Products Main Applications Performance Materials Display Materials SUNEVER LCD alignment coating (Main Mode) VA (Vertical Alignment) TV IPS (In-Plane Switching) Smartphone, Tablet, PC, Monitor, Automobile Semis Materials ARC®(ArF, KrF) bottom anti-reflective coating for semiconductors OptiStack® multi layer process material for semiconductors (Si -HM/SOC) EUV materials EUV process materials (Under Layer/Si-HM) 3D packaging process materials temporary adhesive materials Inorganic Materials SNOWTEX water dispersed colloidal silica sol for polishing silicon wafers, special steel sheets Organo/Monomer Sol film coating, antistatic interference shielding, electronic printing materials, resin additive Oilfield materials for enhancing oil recovery Agrochemicals Herbicide TARGA soybean, rapeseed, sugarbeet PERMIT corn, sugarcane, rice ROUNDUP non-selective herbicide for orchard, noncrop land ALTAIR rice VERDAD rice Insecticide GRACIA vegetables, tea, fruits Fungicide LEIMAY potato, vegetables, grape DITHANE (MANCOZEB) fruits, vegetables Animal health product Fluralaner active substance of BRAVECTO ® (veterinary medical product for dogs and cats) and EXZOLT ® (for poultry, cattle, and sheep) Chemicals Fine Chemicals TEPIC epoxy compound for LED sealants, solder resist, painting Melamine cyanurate flame retardant Environmental related products agent used for sterilizing, disinfectant for swimming pool and septic tanks, etc. FINEOXOCOL cosmetics, lubricants, adhesive Basic Chemicals Melamine (sales ended in December 2022) adhesive agent AdBlue® solution of urea in demineralised water for diesel vehicles to reduce NOx High purity sulfuric acid agents used for cleaning semiconductors Ammonia, Sulfuric acid, Nitric acid, Urea Healthcare LIVALO API anti-cholesterol drug Custom Chemicals custom manufacturing and solution proposal business for pharmaceutical companies 1. ARC® and OptiStack® are registered trade mark of Brewer Science, Inc. 2. BRAVECTO® and EXZOLT® are registered trade mark of MAH. 3. AdBlue® is a registered trademark of German Automobile Industry Association (Verband der Automobilindustrie). Main Products by Segment
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50 Disclaimer and Copyright The forward looking statements in this material are based on information available at the time of preparation of the material. Although they reflect our current expectations, these statements are not guarantees of future performance, but include a number of risks and uncertainties. Actual results may largely differ from these statements due to various factors which may be beyond company control. No information in this material is provided as an offer to buy or sell the shares of the company. We urge users of the material to make investment decision based upon own judgment. All rights reserved to Nissan Chemical Corporation.