Interim report
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepan cy between this translated document and the Japanese original, the original shall prevail. Consolidated Financial Results for the Six Months Ended May 31, 2025 [Japanese GAAP] July 10, 2025 Company name: OSAKA ORGANIC CHEMICAL INDUSTRY LTD. Listing: Tokyo Stock Exchange Securities code: 4187 URL: https://www.ooc.co.jp/ Representative: Masayuki Ando Representative Director and CEO Inquiries: Soichi Honda Director, Corporate Officer, General Manager of Administration Division Telephone: +81-6-6264-5071 Scheduled date to file semi-annual securities report: July 10, 2025 Scheduled date to commence dividend payments: August 4, 2025 Preparation of supplementary material on financial results: Yes Holding of financial results briefing: Yes (for institutional investors and analysts, and for individual investors) (Yen amounts are rounded down to millions, unless otherwise noted.) 1. Consolidated Financial Results for the Six Months Ended May 31, 2025 (December 1, 2024 to May 31, 2025) (1) Consolidated Operating Results (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % May 31, 2025 17,400 13.4 2,922 57.2 3,040 52.9 2,132 5.6 May 31, 2024 15,338 7.5 1,859 (4.1) 1,988 (4.1) 2,020 25.8 (Note) Comprehensive income: Six months ended May 31, 2025: ¥ 1,962 million [ (10.8) %] Six months ended May 31, 2024: ¥ 2,198 million [ 14.3 %] Basic earnings per share Diluted earnings per share Six months ended Yen Yen May 31, 2025 103.71 - May 31, 2024 95.44 - (2) Consolidated Financial Position Total assets Net assets Capital adequacy ratio As of Millions of yen Millions of yen % May 31, 2025 58,637 45,157 75.7 November 30, 2024 59,964 46,139 75.8 (Reference) Equity: As of May 31, 2025: ¥ 44,393 million As of November 30, 2024: ¥ 45,435 million
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2. Dividends Annual dividends 1st quarter-end 2nd quarter-end 3rd quarter-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended November 30, 2024 - 32.00 - 34.00 66.00 Fiscal year ending November 30, 2025 - 35.00 Fiscal year ending November 30, 2025 (Forecast) - 34.00 69.00 (Note) Revision to the forecast for dividends announced most recently: Yes 3. Consolidated Financial Results Forecast for the Fiscal Year Ending November 30, 2025(December 1, 2024 to November 30, 2025) (Percentages indicate year-on-year changes.) Net sales Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Full year 34,000 4.0 5,000 8.5 5,200 9.4 3,500 (13.5) 165.50 (Note) Revision to the financial results forecast announced most recently: None * Notes: (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 1 (Company name: OSAKA ORGANIC CHEMICAL INDUSTRY KOREA LTD. ) Excluded: - (Company name: ) (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement 1) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes 2) Changes in accounting policies due to other reasons: None 3) Changes in accounting estimates: None 4) Restatement: None (Note) For details, please see “2. Semi -annual Consolidated Financial Statements and Notes (4) Notes to Semi -annual Consolidated Financial Statements, Changes in Accounting Policies” on page 10 of the attachments to the Consolidated Financial Results for the Six Months Ended May 31, 2025. (4) Number of issued shares (common shares) 1) Total number of issued shares at the end of the period (including treasury shares): May 31, 2025: 22,410,038 shares November 30, 2024: 22,410,038 shares 2) Number of treasury shares at the end of the period: May 31, 2025: 2,072,611 shares November 30, 2024: 1,283,303 shares 3) Average number of shares outstanding during the period: Six months ended May 31, 2025: 20,559,885 shares Six months ended May 31, 2024: 21,166,133 shares * Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. * Proper use of earnings forecasts, and other special matters The forward-looking statements in this document, including forecasts of financial results, are based on information currently available to the Company and are subject to a number of uncertainties. Accordingly, actual results may differ from the forecasts due to changes in business conditions and other factors. Please refer to “ Explanation of Consolidated Financial Results Forecast and Other Forward -looking Statements ” on page 3 of the attached materials for matters related to forecasts of financial results.
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 1 〇 Contents of Attachments 1. Overview of Results of Operations ........................................................................................................................... 2 (1) Results of Operations for the Period under Review ............................................................................................. 2 (2) Financial Position for the Period under Review .................................................................................................. 3 (3) Explanation of Consolidated Financial Results Forecast and Other Forward- looking Statements ...................... 3 2. Semi-annual Consolidated Financial Statements and Notes ..................................................................................... 4 (1) Semi-annual Consolidated Balance Sheet ............................................................................................................ 4 (2) Semi-annual Consolidated Statements of Income and Comprehensive Income .................................................. 6 Semi-annual Consolidated Statement of Income ................................................................................................. 6 Semi-annual Consolidated Statement of Comprehensive Income ....................................................................... 7 (3) Semi-annual Consolidated Statement of Cash Flows .......................................................................................... 8 (4) Notes to Semi-annual Consolidated Financial Statements ................................................................................. 10 Going Concern Assumption ............................................................................................................................... 10 Significant Changes in Shareholders’ Equity ..................................................................................................... 10 Changes in Scope of Consolidation or Scope of Application of Equity Method ................................................ 10 Changes in Accounting Policies ......................................................................................................................... 10 Additional Information ....................................................................................................................................... 10 Segment and Other Information .......................................................................................................................... 11 Significant Subsequent Events ........................................................................................................................... 12
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 2 1. Overview of Results of Operations (1) Results of Operations for the Period under Review During the first half of the fiscal year under review, the Japanese economy maintained a moderate recovery trend due to improvements in the employment and income environments, as well as the effects of various government policies. However, there has been some stagnation in certain areas due to factors such as sluggish personal consumption against a backdrop of soaring food prices. Additionally, the outlook remains uncertain due to the impact of U.S. trade policy, the situation in the Middle East, and other issues. Under these circumstances, we launched the new medium -term management plan Progress & Development 2030 (P&D 2030) covering the period from the fiscal year ended November 30, 2024 to the fiscal year ending November 30, 2030. Based on our Group management philosophy, P&D 2030 has set a management vision of “providing value to the global market as a leading company in specialty acrylic acid esters.” Under this vision, we will promote sustainable management that takes ESG into account, aiming to increase corpor ate value and achieve sustainable growth. In the Chemical Products Business, we worked to improve profit ratios mainly by integrating and closing products and improving production efficiency, and focused on expanding sales of environmentally friendly products, such as those derived from biomass. In the Electronic Materials Business, the Group worked to accelerate the development of cutting-edge semiconductor materials and to develop new applications for photoresist materials. In the Specialty Chemicals Business, the Group worked to strengthen the o verseas expansion of cosmetic raw materials and expand sales of high-purity special solvents. In the current fiscal year, following a subsidiary in South Korea established last year, we are planning to establish a joint venture company as a sales base in North America, and we will work to strengthen our overseas sales system by acquiring new customers and cultivating new markets. As a result, for the first half of the fiscal year under review, net sales were 17,400 million yen (up 13.4% year on year), operating profit was 2,922 million yen (up 57.2% year on year), ordinary profit was 3,040 million yen (up 52.9% year on year), and profit attributable to owners of parent was 2,132 million yen (up 5.6% year on year). Business results by segment are explained below (excluding inter-segment transactions). 1) Chemical Products Business In the Chemical Products Business, sales of automotive coatings were on a recovery trend in the acrylic acid ester group, while sales of products for display adhesives and UV inkjet inks remained strong. In the methacrylate ester group, sales were weak. As a result, net sales were 6,526 million yen (up 8. 9% year on year) and segment profit was 1,004 million yen (up 18.3% year on year). 2) Electronic Materials Business In the Electronic Materials Business, sales of raw materials for cutting -edge EUV resists decreased in the semiconductor materials group, but sales of raw materials for ArF resists, which are the Company’s mainstay, recovered, and Group-wide sales increased significantly. In the display materials group, sales for insulating films for touch panels were robust, but sales for the group as a whole were flat. In addition, sales of other groups decreased. As a result, net sales were 7,816 million yen (up 17.4% year on year) and segment profit was 1,302 million yen (up 102.2% year on year). 3) Specialty Chemicals Business In the Specialty Chemicals Business, sales were flat in the cosmetics materials group. In the functional materials
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 3 group, sales were flat. Sales of high-purity specialty solvents at subsidiaries remained strong. As a result, net sales were 3,058 million yen (up 13.8% year on year) and segment profit was 617 million yen (up 73.3% year on year). (2) Financial Position for the Period under Review Total assets at the end of the first half of the current fiscal year decreased by 1,327 million yen from the end of the previous fiscal year to 58,637 million yen. This was mainly attributable to a decrease of 459 million yen in cash and deposits, a decrease of 842 million yen in property, plant and equipment, and a decrease of 108 million yen in investment securities. Liabilities at the end of the first half of the current fiscal year decreased by 345 million yen from the end of the previous fiscal year to 13,479 million yen. This was mainly due to an increase of 204 million yen in notes and accounts payable - trade, a decrease of 129 million yen in the current portion of long-term borrowings, a decrease of 273 million yen in long-term borrowings, and a decrease of 45 million yen in income taxes payable. Net assets at the end of the first half of the current fiscal year decreased by 982 million yen from the end of the previous fiscal year to 45,157 million yen. This was mainly due to an increase of 1,406 million yen in retained earnings, an increase of 2,1 96 million yen in treasury shares, and a decrease of 193 million yen in valuation difference on available-for-sale securities. Cash Flows Cash and cash equivalents at the end of the first half of the current fiscal year decreased by 459 million yen from the end of the previous fiscal year to 12,587 million yen. Net cash provided by operating activities was 3,650 million yen compared with 5,473 million yen provided in the first half of the previous fiscal year. This was mainly attributable to profit before income taxes of 3,040 million yen, depreciation of 1,469 million yen, decrease in consumption taxes payable/consumption taxes refund receivable of 427 million yen, and income taxes paid of 906 million yen. Net cash used in investing activities was 711 million yen compared with 460 million yen provided in the first half of the previous fiscal year. This was mainly due to purchase of property, plant and equipment of 57 2 million yen and purchase of investment securities of 120 million yen. Net cash used in financing activities was 3,375 million yen compared with 1,906 million yen used in the first half of the previous fiscal year. This was mainly due to repayments of long -term borrowings of 402 million yen, purchase of treasury shares of 2,226 million yen, and dividends paid of 718 million yen. (3) Explanation of Consolidated Financial Results Forecast and Other Forward -looking Statements The consolidated financial results forecast announced on January 9, 2025, remain unchanged.
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 4 2. Semi-annual Consolidated Financial Statements and Notes (1) Semi-annual Consolidated Balance Sheet (Thousands of yen) As of November 30, 2024 As of May 31, 2025 Assets Current assets Cash and deposits 13,047,614 12,587,853 Notes and accounts receivable - trade, and contract assets 11,252,037 11,301,113 Electronically recorded monetary claims - operating 374,384 467,403 Finished goods 4,799,006 4,613,616 Work in process 2,070,025 2,216,491 Raw materials and supplies 1,989,293 2,140,893 Other 773,069 688,251 Allowance for doubtful accounts (18,415) (17,272) Total current assets 34,287,015 33,998,349 Non-current assets Property, plant and equipment Buildings and structures, net 8,327,194 8,114,577 Machinery, equipment and vehicles, net 7,530,545 6,873,544 Land 2,172,476 2,172,476 Construction in progress 94,679 82,556 Other, net 290,291 329,877 Total property, plant and equipment 18,415,187 17,573,031 Intangible assets Goodwill 23,333 13,333 Other 50,538 42,862 Total intangible assets 73,871 56,195 Investments and other assets Investment securities 6,197,896 6,089,256 Shares of subsidiaries and associates 96,958 - Retirement benefit asset 758,144 775,155 Deferred tax assets 1,927 3,079 Other 133,712 142,258 Total investments and other assets 7,188,638 7,009,749 Total non-current assets 25,677,697 24,638,976 Total assets 59,964,713 58,637,326
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 5 (Thousands of yen) As of November 30, 2024 As of May 31, 2025 Liabilities Current liabilities Notes and accounts payable - trade 5,924,864 6,129,811 Current portion of long-term borrowings 2,188,610 2,059,102 Accounts payable - other 1,524,265 1,666,453 Income taxes payable 895,161 849,747 Provision for bonuses for directors (and other officers) 42,210 17,610 Other 1,154,766 1,015,727 Total current liabilities 11,729,879 11,738,452 Non-current liabilities Long-term borrowings 1,337,923 1,064,621 Deferred tax liabilities 634,911 562,498 Provision for share awards for directors (and other officers) 35,086 4,409 Other 86,937 109,471 Total non-current liabilities 2,094,858 1,741,000 Total liabilities 13,824,737 13,479,452 Net assets Shareholders' equity Share capital 3,600,295 3,600,295 Capital surplus 3,513,436 3,513,349 Retained earnings 38,727,951 40,134,430 Treasury shares (3,129,535) (5,326,068) Total shareholders' equity 42,712,148 41,922,006 Accumulated other comprehensive income Valuation difference on available-for-sale securities 2,344,090 2,150,461 Foreign currency translation adjustment 132,235 82,754 Remeasurements of defined benefit plans 246,812 238,345 Total accumulated other comprehensive income 2,723,138 2,471,562 Non-controlling interests 704,689 764,304 Total net assets 46,139,976 45,157,874 Total liabilities and net assets 59,964,713 58,637,326
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 6 (2) Semi-annual Consolidated Statements of Income and Comprehensive Income Semi-annual Consolidated Statement of Income (Thousands of yen) For the six months ended May 31, 2024 For the six months ended May 31, 2025 Net sales 15,338,151 17,400,699 Cost of sales 11,021,532 11,886,265 Gross profit 4,316,618 5,514,434 Selling, general and administrative expenses 2,456,824 2,591,489 Operating profit 1,859,793 2,922,944 Non-operating income Interest income 1,239 4,099 Dividend income 66,183 70,246 Foreign exchange gains 67,322 - Insurance claim income - 101,270 Other 20,012 45,763 Total non-operating income 154,757 221,379 Non-operating expenses Interest expenses 4,609 4,395 Foreign exchange losses - 96,073 Commission for purchase of treasury shares 602 2,400 Loss on investments in investment partnerships 591 506 Donations 20,000 - Other 10 0 Total non-operating expenses 25,813 103,376 Ordinary profit 1,988,737 3,040,946 Extraordinary income Gain on sale of investment securities 815,207 - Total extraordinary income 815,207 - Extraordinary losses Loss on retirement of non-current assets 1,048 750 Total extraordinary losses 1,048 750 Profit before income taxes 2,802,896 3,040,196 Income taxes - current 814,754 866,459 Income taxes - deferred (65,250) (35,895) Total income taxes 749,503 830,563 Profit 2,053,393 2,209,632 Profit attributable to non-controlling interests 33,299 77,415 Profit attributable to owners of parent 2,020,093 2,132,216
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 7 Semi-annual Consolidated Statement of Comprehensive Income (Thousands of yen) For the six months ended May 31, 2024 For the six months ended May 31, 2025 Profit 2,053,393 2,209,632 Other comprehensive income Valuation difference on available-for-sale securities 94,328 (189,214) Foreign currency translation adjustment 46,475 (49,480) Remeasurements of defined benefit plans, net of tax 4,448 (8,673) Total other comprehensive income 145,252 (247,368) Comprehensive income 2,198,645 1,962,263 Comprehensive income attributable to Comprehensive income attributable to owners of parent 2,160,155 1,880,641 Comprehensive income attributable to non-controlling interests 38,489 81,622
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 8 (3) Semi-annual Consolidated Statement of Cash Flows (Thousands of yen) For the six months ended May 31, 2024 For the six months ended May 31, 2025 Cash flows from operating activities Profit before income taxes 2,802,896 3,040,196 Depreciation 1,589,302 1,469,128 Amortization of goodwill 9,999 9,999 Increase (decrease) in allowance for doubtful accounts 859 (1,142) Increase (decrease) in provision for bonuses for directors (and other officers) 5,030 (24,600) Increase (decrease) in provision for share awards for directors (and other officers) 16,590 (30,677) Decrease (increase) in retirement benefit asset (8,400) (24,377) Interest and dividend income (67,423) (74,345) Insurance claim income - (101,270) Interest expenses 4,609 4,395 Foreign exchange losses (gains) (29,679) 62,892 Donation 20,000 - Loss on retirement of non-current assets 1,048 750 Loss (gain) on investments in investment partnerships 591 506 Loss (gain) on sale of investment securities (815,207) - Decrease (increase) in accounts receivable - trade, and contract assets (461,562) (157,934) Decrease (increase) in inventories 215,805 (123,828) Increase (decrease) in trade payables 772,336 230,754 Increase/decrease in consumption taxes payable/consumption taxes refund receivable 932,199 (427,805) Other, net 701,890 533,404 Subtotal 5,690,887 4,386,046 Interest and dividends received 67,423 74,345 Interest paid (4,495) (4,366) Payments for donations (20,000) - Proceeds from insurance income - 101,270 Income taxes refund (paid) (260,198) (906,901) Net cash provided by (used in) operating activities 5,473,617 3,650,394 Cash flows from investing activities Purchase of property, plant and equipment (593,611) (572,415) Purchase of investment securities - (120,057) Proceeds from sale of investment securities 1,054,352 - Other, net - (18,740) Net cash provided by (used in) investing activities 460,740 (711,212)
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 9 (Thousands of yen) For the six months ended May 31, 2024 For the six months ended May 31, 2025 Cash flows from financing activities Proceeds from long-term borrowings 200,000 - Repayments of long-term borrowings (1,044,602) (402,810) Redemption of bonds (12,500) - Repayments of lease liabilities (7,220) (6,296) Purchase of treasury shares (427,689) (2,226,503) Proceeds from disposal of treasury shares - 79 Dividends paid (595,488) (718,308) Dividends paid to non-controlling interests (19,488) (22,008) Net cash provided by (used in) financing activities (1,906,988) (3,375,846) Effect of exchange rate change on cash and cash equivalents 77,389 (101,056) Net increase (decrease) in cash and cash equivalents 4,104,758 (537,721) Cash and cash equivalents at beginning of period 7,890,809 13,047,614 Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation - 77,960 Cash and cash equivalents at end of period 11,995,567 12,587,853
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 10 (4) Notes to Semi-annual Consolidated Financial Statements Going Concern Assumption Not applicable. Significant Changes in Shareholders’ Equity In accordance with the resolution of the Board of Directors’ meeting held on January 24, 2025, the Company repurchased its own shares. As a result of this acquisition and other factors, treasury shares increased by 2,196,533 thousand yen in the six months ended May 31, 2025 to 5,326,068 thousand yen at the end of the first half of the current fiscal year. Changes in Scope of Consolidation or Scope of Application of Equity Method (Significant Change in the Scope of Consolidation) OSAKA ORGANIC CHEMICAL INDUSTRY KOREA LTD., which was a non -consolidated subsidiary in the previous fiscal year, is included in the scope of consolidation from the first half of the current fiscal year due to its increased importance. Changes in Accounting Policies (Application of “Accounting Standard for Current Income Taxes” and other standards) The Company applied “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27 on October 28, 2022; hereinafter, the “Revised Accounting Standard 2022”) and other standards from the beginning of the first half of the current fiscal year. Regarding the amendment to the accounting classification of income taxes (taxation of other comprehensive income), the Company follows the transitional treatment set forth in the proviso to Paragraph 20- 3 of the Revised Accounting Standard 2022 and the transitional treatment set forth in the proviso to Paragraph 65-2 (2) of “Guidance on Accounting Standard for Tax Effect Accounting” (ASBJ Guidance No. 28 on October 28, 2022). These changes in accounting policies have no impact on the semi-annual consolidated financial statements. Additional Information (Impact of Changes to Income Tax Rate) Following the enactment of the Act for Partial Revision of the Income Tax Act, etc. (Act No. 13 of 2025) by the Diet on March 31, 2025, the Special Defense Corporation Tax will be levied from fiscal years beginning on or after April 1, 2026. Accordingly, the effective statutory tax rate has been raised from 30.5% to 31.5% to account for deferred tax assets and deferred tax liabilities related to the temporary differences etc. that are expected to be eliminated in the fiscal years beginning on or after December 1, 2026. The impact of the change to the tax rate on the semi-annual consolidated financial statements is minimal.
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 11 Segment and Other Information [Segment Information] I. For the first half ended May 31, 2024 (Dec. 1, 2023 – May 31, 2024) 1. Information on the amounts of sales, profits or losses by reportable segment and information on disaggregation of revenue (Thousands of yen) Reportable segment Adjustment (Note 1) Amounts shown on semi- annual consolidated statement of income (Note 2) Chemical Products Business Electronic Materials Business Specialty Chemicals Business Total Net sales Japan 2,891,864 5,603,440 2,014,018 10,509,324 — 10,509,324 Asia and Australia 1,889,611 978,146 604,461 3,472,219 — 3,472,219 Americas 805,793 70,090 46,888 922,772 — 922,772 Europe 404,984 7,693 21,156 433,834 — 433,834 Revenue from contracts with customers 5,992,254 6,659,371 2,686,524 15,338,151 — 15,338,151 Other revenues — — — — — — Sales to external customers 5,992,254 6,659,371 2,686,524 15,338,151 — 15,338,151 Inter-segment sales and transfers — — 200,157 200,157 (200,157) — Total 5,992,254 6,659,371 2,886,682 15,538,308 (200,157) 15,338,151 Segment profit 849,002 644,285 356,290 1,849,578 10,215 1,859,793 (Notes) 1. Segment profit in the above adjustment represents eliminations for inter-segment transactions. 2. Segment profit is adjusted to be consistent with the operating profit on the semi-annual consolidated statement of income. 2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment Not applicable. II. For the first half ended May 31, 2025 (Dec. 1, 2024 – May 31, 2025) 1. Information on the amounts of sales, profits or losses by reportable segment and information on disaggregation of revenue (Thousands of yen) Reportable segment Adjustment (Note 1) Amounts shown on semi- annual consolidated statement of income (Note 2) Chemical Products Business Electronic Materials Business Specialty Chemicals Business Total Net sales Japan 3,180,818 6,599,191 2,371,017 12,151,027 — 12,151,027 Asia and Australia 2,315,773 1,159,763 565,277 4,040,814 — 4,040,814 Americas 614,824 56,720 106,718 778,264 — 778,264 Europe 414,763 570 15,259 430,593 — 430,593 Revenue from contracts with customers 6,526,180 7,816,246 3,058,273 17,400,699 — 17,400,699 Other revenues — — — — — — Sales to external customers 6,526,180 7,816,246 3,058,273 17,400,699 — 17,400,699 Inter-segment sales and transfers — — 226,432 226,432 (226,432) — Total 6,526,180 7,816,246 3,284,705 17,627,131 (226,432) 17,400,699 Segment profit 1,004,292 1,302,562 617,524 2,924,379 (1,435) 2,922,944 (Notes) 1. Segment profit in the above adjustment represents eliminations for inter-segment transactions. 2. Segment profit is adjusted to be consistent with the operating profit on the semi-annual consolidated statement of income.
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OSAKA ORGANIC CHEMICAL INDUSTRY LTD. (4187) Financial Results for the First Half of FY11/25 12 2. Information related to impairment losses on non-current assets or goodwill, etc. for each reportable segment Not applicable. Significant Subsequent Events Not applicable.