Interim report
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Brilliance through Chemistry Financial Results Summary for the 1st Quarter of the Fiscal Year Ending March 31 , 2027 Nippon Soda Co. , Ltd. August 7 , 2026 Nisso NIPPON SODA CO . , LTD . 1
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Contents 2 １ Financial Results for the 1st Quarter of the Fiscal Year Ending March 31, 2027 ・Overview ・Performance by Segment ・Performance Summary of Chemical Materials ・Performance Summary of Agri Business ２ Forecast of Financial Results for the Fiscal Year Ending March 31, 2027 (announced on May 14, 2026) ・Overview of Performance Forecast ・Performance Forecast by Segment ３ Reference Material ・Various Indicators ・Business Details ・Overview of Business Group 3 4 5 6 7 8 9 10 11 1 ２ ３ Consolidated performance forecast for the first half of the fiscal year ending March 31, 2027 has not changed from the forecast announced on May 14, 2026. Furthermore, the consolidated performance forecast for the fiscal year will be reviewed when announcing the financial results for the first half of the fiscal year.
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3.2 3.9 4.5 3.5 3.7 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 33 34 39 46 34 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Change(%)Change(amount)2027/3 1Q2026/3 1Q（Billions of yen） 4.9%1.6134.2532.64Net Sales 18.3%0.583.733.16Operating profit (2.9%)(0.04)1.301.33Share of profit of entities accounted for using equity method 23.2%1.055.584.53Ordinary profit 2.0%0.063.283.21Profit attributable to owners of parent 4.6%2.7061.258.5Earnings per Share (JPY) 10.5%15.1159.4144.3Exchange rate (JPY/USD) 13.2%21.7185.5163.8Exchange rate (JPY/EUR) Overview （Billions of yen） 【Quarterly Net sales】【 Quarterly Operating profit】 3 【Operating profit difference (Y-on-Y)】 1.5 0.03 (0.4) (0.5) 3.7Rate difference (0.3) Rate difference 1.23.2 ・Sales increased in Agri Business and Trading & Logistics. ・Sales decreased in Chemical Materials. ・Due to exchange rate being weaker than the previous fiscal year, foreign exchange gains were recorded. ・Costs related to the closure of the Mizushima Plant were recorded as extraordinary losses. （Billions of yen）（ Billions of yen） Price difference Volume difference Material purchase price difference Others‘26/3 ‘27/3 ‘26/3 ‘27/3 ‘26/3 1Q ‘27/3 1Q Operating profit Difference: 0.6
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Performance by Segment ・Chemical Materials︓ Sales increased in Specialty chemicals. Sales decreased in Pharmaceuticals & industrial fungicides. Sales decreased in Industrial chemicals and Eco-business due to the termination of sales of sodium cyanide, water treatment agent NISSO HI-CHLON and other products. ・Agri Business︓ Sales grew for the export of insecticide MOSPILAN and fungicide PANCHO. Sales increased in the growth products; fungicides PYTHILOCK, MIGIWA and acaricide DANYOTE. Sales decreased for the export of acaricide NISSORUN. ・Trading & Logistics︓ Sales increased in organic chemicals and construction-related products. ・Engineering︓Plant construction work decreased. ・Eco Solutions︓Sales increased in non-ferrous metals. *Adjustments︓Profit generated between segments was eliminated with the completion of the expanded production facility for pharmaceutical excipient NISSO HPC. 4 Operating profitNet sales Change (%) Change (Amount)2027/3 1Q2026/3 1QChange (%) Change (Amount)2027/3 1Q2026/3 1Q(Billions of yen) 3.3%0.072.222.15(5.5%)(0.55)9.429.97Chemical Materials -0.640.40(0.24)21.8%1.548.587.04Agri Business 18.6%0.130.800.689.5%1.0612.2011.13Trading & Logistics 31.2%0.170.700.53(26.0%)(0.63)1.792.42Engineering 287.4%0.080.110.039.1%0.192.262.07Eco Solutions -(0.51)(0.51)(0.00)----Adjustments 18.3%0.583.733.164.9%1.6134.2532.64Total *
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2.2 1.0 1.7 0.9 2.2 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 10 8 10 10 9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q '26/3 価格差 数量差 材料価格差 その他 '27/3 ・Industrial chemicals︓Sales of sodium cyanide were terminated. ・Specialty chemicals︓Sales increased in resin additive NISSO-PB for materials used in AI servers. ・Eco-business︓Sales of water treatment agent NISSO HI-CHLON were terminated. ・Pharmaceuticals & industrial fungicides︓Sales increased in pharmaceutical excipient NISSO HPC. Sales decreased in active pharmaceutical ingredients. *Inventory valuation gains increased. Performance Summary of Chemical Materials ‘26/3 1Q ‘27/3 1Q 5 2.2 1.1 (1.1) (0.3) 0.5 2.2 Rate difference 0.4 Rate difference (0.1) Main factors of changeChange (Amount)2027/3 1Q2026/3 1Q(Billions of yen) (0.55)9.429.97Net sales Sodium cyanide↓(0.07)2.222.28Industrial chemicals 0.182.952.77Fine chemicals NISSO-PB↑0.232.332.11Specialty chemicals NISSO HI-CHLON↓(0.20)1.101.30Eco-business NISSO HPC↑, Active pharmaceutical ingredient↓(0.44)3.914.35Pharmaceuticals & industrial fungicides (0.25)(3.09)(2.84)Subsidiaries sales, elimination of transactions 0.072.222.15Operating profit （Billions of yen）（ Billions of yen） （Billions of yen） Price difference Volume difference Material purchase price difference Others‘26/3 ‘27/3 ʻ26/3 ‘27/3 【Quarterly net sales】【 Quarterly operating profit】【 Operating profit difference (Y-on-Y)】 Operating profit Difference: 0.07 *
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2.0 1.7 2.0 0.4 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 7 12 13 20 9 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q '26/3 1Q 価格差 数量差 材料価格差 その他 '27/3 1Q Performance Summary of Agri Business ‘26/3 1Q ‘27/3 1Q 6 (0.2) 0.3 1.3 (0.1) (0.9) 0.4 Rate difference 0.8 Main factors of changeChange (Amount)2027/3 1Q2026/3 1Q(Billions of yen) 1.548.587.04Net sales PANCHO↑,TOPSIN-M↑,MIGIWA↑,PYTHILOCK↑1.516.515.00Fungicides MOSPILAN↑, DANYOTE↑, NISSORUN↓1.123.432.31Insecticides/acaricides 0.020.470.44Herbicides (0.03)0.070.10Others (1.09)(1.89)(0.80)Subsidiaries sales, elimination of transactions 0.640.40(0.24)Operating profit 3.2％70.3％67.1％Overseas sales ratio 【Quarterly net sales】【 Quarterly operating profit】 （Billions of yen）（ Billions of yen） 【Operating profit difference (Y-on-Y)】 （Billions of yen） Price difference Volume difference Material purchase price difference Others Rate Difference (0.2) ‘26/3 ‘27/3 ‘26/3 ‘27/3 ・Fungicides︓Sales grew for the export of PANCHO, TOPSIN-M, MIGIWA, and PYTHILOCK. ・Insecticides/acaricides︓Sales grew for the export of insecticide MOSPILAN. Sales increased in acaricide DANYOTE. Sales decreased for the export of acaricide NISSORUN. *Inventory valuation gains decreased. (0.2) Operating profit Difference: 0.6 *
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'24/3 実績 価格差 数量差 材料価格差 その他 '25/3 予想 8.1 10.0 11.9 16.9 13.9 16.1 15.0 14.2 '20/3 '21/3 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 145 139 153 173 154 155 152 152 '20/3 '21/3 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 ・In Agri Business, inventory valuation gains are expected to decrease as a reversal of the rise in certain raw material costs recorded in the previous fiscal year. ・Share of profit of entities accounted for using the equity method decreased due to the reversal effect of foreign exchange gains recorded in the previous fiscal year. ・Assumed exchange rates: 1 USD = 150 JPY, 1 EUR = 175 JPY 7 13.9 1.0 0.4 1.2 (3.9) 12.6 Operating profit Difference: (1.3) Overview of Performance Forecast (announced on May 14, 2026) 【Net sales】 （Billions of yen） Forecast 【Operating profit】 （Billions of yen） 【Operating profit difference (Y-on-Y) 】 （Billions of yen） Forecast ‘24/3 Results Price difference Volume difference Material purchase price difference Others ‘25/3 Forecast Change (%) Change (Amount) 2027/3 Forecast2026/3 Results(Billions of yen) Full-year1st Half 0.1％0.11152.2068.00152.09Net Sales (5.1％)(0.77)14.205.9014.97Operating profit (27.3％)(1.66)4.401.606.06Share of profit (loss) of entities accounted for using equity method (17.4％)(3.99)19.007.5022.99Ordinary profit (13.5％)(2.47)15.804.8018.27Profit attributable to owners of parent (12.4％)(41.8)294.889.5336.5Net income per share (JPY) (0.3％)(0.4)150.0150.0150.4Exchange rate (JPY/USD) 0.7％1.3175.0175.0173.7Exchange rate (JPY/EUR)
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・Chemical Materials: Pharmaceutical excipient NISSO HPC, resin additive NISSO-PB, and KrF photoresist material VP-POLYMER performed steadily. Sales of products such as sodium cyanide, water treatment agent NISSO HI-CHLON were discontinued at the end of FY 2026/3. ※Net sales of discontinued products in FY 2026/3 : JPY 2.38 billion ・Agri Business: Sales of fungicides PYTHILOCK and MIGIWA, and acaricide DANYOTE, which are growth products, are expected to perform steadily. Inventory valuation gains are expected to decrease as a reversal of the rise in certain raw material costs recorded in the previous fiscal year. Selling prices are expected to decrease due to intense competition with generic agrochemicals, particularly in South America. Research and development expenses are expected to increase, mainly due to higher testing costs associated with the registration application for the new insecticide NI-40. ・Engineering: Profitability of plant construction works is expected to improve. ・Eco Solutions: Depreciation expenses associated with equipment upgrades are expected to be recorded. ・Assumed exchange rates: 1 USD = 150 JPY, 1 EUR = 175 JPY 8 Performance Forecast by Segment (announced on May 14, 2026) Operating profitNet sales Change (%) Change (Amount) 2027/3 Forecast2026/3 Results Change (%) Change (Amount) 2027/3 Forecast2026/3 Results(Billions of yen) Full-year1st HalfFull-year1st Half 15.4％0.886.603.905.72(5.6％)(2.11)35.3018.2037.41Chemical Materials (18.0％)(0.99)4.500.385.49(0.6％)(0.30)52.2018.8052.50Agri Business 0.4％0.012.281.152.273.9％1.6945.5021.7043.81Trading & Logistics 31.5％0.361.501.001.142.1％0.188.704.008.52Engineering (20.5％)(0.11)0.420.470.536.5％0.6410.505.309.86Eco Solutions -(0.92)(1.10)(1.00)(0.18)----Adjustments (5.1%)(0.77)14.205.9014.970.1%0.11152.2068.00152.09Total
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5.8 6.3 6.4 6.6 7.1 8.2 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 8.6 9.1 7.8 7.8 8.1 9.2 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 13.1 13.3 7.5 10.3 10.7 22.0 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 Forecast * Dividends are calculated based on the share split implemented on October 1, 2024. 9 ※1 ※2 Reference Materials: Various Indicators 【Capital investments】 （Billions of yen） Forecast ※1 Expanded production facility of pharmaceutical excipient NISSO HPC ※2 Mass production facility of new fungicide MIGIWA ※3 Expanded production facility of Krf photoresist material VP-POLYMER ※4 Expanded production facility of pharmaceutical excipient NISSO HPC Temperature-controlled automated warehouse for pharmaceuticals （logistics) 【Depreciation】 （Billions of yen) Forecast 【R&D expenses】 （Billions of yen) Forecast 【Financial Position】 39 32 26 29 39 40 32 49 50 52 135 142 142 141 146 156 169 188 187 205 0.29 0.23 0.18 0.21 0.27 0.26 0.19 0.26 0.27 0.26 '17/3 '18/3 '19/3 '20/3 '21/3 '22/3 '23/3 '24/3 '25/3 '26/3 Interest-bearing debt Equity capital D/E ratio (Times) D/E ratio＝ Interest-bearing debt / Equity capital ＊ ＊Equity capital ＝ Net assets – Non-controlling interests 49.4 108.2 49.3 40.1 52.1 51.4 74.6 54.3 28.4 31.2 35.7 43.1 39.6 40.2 47.5 30 40 40 55 90 120 120 140 160 160 '18/3 '19/3 '20/3 '21/3 '22/3 '23/3 '24/3 '25/3 '26/3 '27/3 Total return ratio(%) Dividend ratio(%) Dividend per share(Yen) 【Shareholder Returns】 Purchase of treasury shares (since FY2019/3). 1. Purchased ¥5.0 billion from Feb to Oct 2020. 2. Purchased ¥2.0 billion from Feb to Jun 2021. 3. Purchased ¥2.0 billion from Nov 2023 to Mar 2024. 4. Purchased ¥5.0 billion from May 2025 to Jan 2026. In all cases above, all acquired shares were cancelled. ※3 （Interest-bearing debt / Equity capital : Billions of yen） * ※4
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10 Reference Materials: Business Details Main Products (As of June 30, 2026) Net sales 2026/3 Results 2025/3 Results 2024/3 Results（Billions of yen） 37.4136.4436.06Chemical Materials Caustic soda, Liquid chlorine, Hydrochloric acid, Phosphorus oxychloride, and Phosphorus trichloride9.2610.4511.31Industrial chemicals Metallic sodium, Specialty isocyanates, Alcoholate, Organic titanate, and Color developer for thermal paper11.6510.779.23Fine chemicals NISSO-PB, VP-POLYMER, 1,2-SBS, and TITABOND8.217.326.49Specialty chemicals TAKE-ONE, HIDION, Slime removing agents, and BISTRATOR4.695.645.58Eco-business NISSO HPC, Faropenem-sodium antibiotic, NISSO SSF, BESTCIDE, BIOCUT, MILLCUT, and NISSOCOAT14.7113.0611.53Pharmaceuticals & industrial fungicides (11.11)(10.81)(8.08)Subsidiaries sales, elimination of transactions 52.5053.5953.04Agri Business TOPSIN-M, BEFRAN, BELLKUTE, PYTHILOCK, TRIFMINE, PANCHO, MIGIWA, AGRI-MYCIN, AGROCARE (biological pesticide), MASTERPIECE (biological pesticide), FANTASISTA, MONSIEUR BORDEAUX, and LABILITE 23.2324.4423.94Fungicides MOSPILAN, NISSORUN, DANYOTE, ROMDAN, GREENGUARD, and PHOENIX18.8517.3622.52Insecticides/ acaricides NABU, TOPMERIT, CONCLUDE, and ALPHARD3.283.463.18Herbicides (0.27)(0.30)(0.40)Others 7.418.633.80Subsidiaries sales, elimination of transactions Trading : Chemicals, functional products, synthetic resins, industrial devices, and construction-related products Logistics : Warehousing and transportation services 43.8142.8240.90Trading & Logistics Plant construction, and civil engineering and construction8.5213.1416.34Engineering Waste treatment and resource recycling9.869.218.09Eco Solutions 152.09155.20154.43Total
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11 Consolidated subsidiaries (12) Company name Business activities Segment Nippon Soda Co., Ltd. Manufacturing, processing and marketing of industrial chemicals, synthetic resin and other plastic materials, dyes, pharmaceuticals, agrochemicals, veterinary pharmaceuticals, and various other kinds of chemical industrial products. Chemical Materials and Agri Business Trading & LogisticsDomestic sales, export and import of chemicals, functional products, synthetic resins, industrial devices, construction-related products, etc.Nisso Shoji Co., Ltd. Trading & LogisticsWarehousing, transportation, packaging, customs brokerage, insurance agency services, and leasing.Sanwa Soko Co, Ltd. Trading & LogisticsFreight trucking and transportation business, and cargo transportation handing business.Sanso Unyu Co., Ltd. Eco SolutionsManufacturing and sales of non-ferrous metals and industrial chemicals, and environmental development business.Nisso Metallochemical Co., Ltd. Engineering Integrated planning, design, construction management, sales and consulting for industrial and other types of facilities and equipment, machinery, piping, civil engineering, construction, etc. Nisso Engineering Co., Ltd. EngineeringDesign, construction, land development, excavation of soil and rock for civil engineering. Manufacturing and sales of concrete products.Nisso Kensetsu Co., Ltd. Agri Business Manufacturing and sales of fumigants for agrochemicals, pharmaceuticals and veterinary pharmaceuticals, and manufacturing, processing, sales, repackaging into smaller containers and packaging of other agrochemicals, pharmaceuticals and general industrial chemicals. Shinfuji Kaseiyaku Co., Ltd. Chemical Materials and Agri Business Manufacturing, sales and trial production of products under development including industrial chemicals, chemical products, functional dyes, pharmaceuticals, agrochemicals and their intermediates, synthetic resin molded products, dehumidifying agents and household general goods. Nisso Fine Co., Ltd. Agri BusinessSales of agrochemicals, agricultural materials and other products.Nisso Green Co., Ltd. Chemical Materials and Agri Business Export/import and wholesale of various products, manufacturing and sales of various products, and provision of consigned information research services related to technology. Nisso America Inc. Chemical Materials and Agri Business Export/import and wholesale of various products, manufacturing and sales of various products, and provision of consigned information research services related to technology. Nisso Chemical Europe GmbH Agri BusinessManufacturing of active agrochemical ingredients.Nisso Namhae Agro Co., Ltd. Equity-method affiliates（2） Manufacturing and sales of feed additives.Novus International, Inc. Export/import and wholesale sales of insecticides, fungicides, herbicides and other agrochemical products, and manufacturing and formulation of agrochemicals. Iharabras S/A. Indústrias Químicas Reference Materials: Overview of the Business Group (As of April 1, 2026)
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12 The forward-looking statements, including plans, outlook and strategies contained in this material are based on information currently available to the Company and on certain assumptions deemed to be reasonable by the Company, and these statements do not purport to be a promise by the Company to achieve such results. Actual business and other results may differ from the statements herein due to a number of factors. This document is not intended to solicit investment. Please make any investment decisions according to your own judgment. The monetary units in this table are billions of yen, rounded to the second decimal place. [Inquiries] Corporate Communication Section, General Affairs Department, Nippon Soda Co., Ltd. Email: info@nissogr.com