Translation from the Original Japanese Version.

July 27, 2023

Company name: Toho Titanium Co., Ltd.

Representative: Yasuji Yamao, Representative Director and President

Code number: 5727 (Prime Market of the Tokyo Stock Exchange)

Contact person: Hiromu Tomeba, General Manager, Planning, Corporate Management Division

Telephone: +81-45-394-5521

Notice of Revision to Consolidated Earnings Forecasts for

the Six Months Ending September 30, 2023

Toho Titanium Co., Ltd. announced today revision to its consolidated earnings forecasts for the six months ending September 30, 2023 that were announced on May 8, 2023 as follows:

1. Revision to the consolidated earnings forecast for the six months ending September 30, 2023 (From April 1, 2023 to September 30, 2023)

(Millions of yen)

Operating

Ordinary

Profit

Net income

Net sales

attributable to

per share

income

income

owners of parent

(yen)

Previous Forecast (A)

38,200

1,100

900

500

7.03

Revised Forecast (B)

37,700

1,200

1,500

1,000

14.05

Difference (B－A)

(500)

100

600

500

－

Difference (%)

(1.3)

9.1

66.7

100.0

－

Results for the six months

38,890

5,823

6,406

4,536

63.74

ended September 30, 2022

2. Reasons for the revision

For the six months ending September 30, 2023, sales of THC catalysts and ultra-fine nickel powder are expected to decrease due to lower sales volume mainly caused by the economic slowdown in China, but profits are expected to increase compared to the previously announced forecast due to the progress of yen depreciation and other factors.

The consolidated financial forecast for the FY2023 remains unchanged at this point because we anticipate the yen will continue to depreciate, while carefully examining the sales of THC catalysts and ultrafine nickel due to the prolonged economic stagnation in China. If it becomes necessary to revise the FY2023 consolidated earnings forecast, we will promptly disclose the revised forecast.

Business performance forecasts and other forward-looking statements contained in this document are based on the information that is presently available to the Company and on certain assumptions that the Company considers reasonable. The Company makes no representations that those forecasts and other forward-looking statements are achievable. Actual results may differ materially from the forecasts due to various factors.

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Toho Titanium Co. Ltd. published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 06:34:03 UTC.