Kaneka Q1 Report 2023

During the first three months (April 1 to June 30, 2023, “1Q”) of the fiscal year ending March 31, 2024,
the global economy remained sluggish due to ongoing inflation and tightening of monetary policy in
Europe and the U.S., and economic slowdown reflecting China’s faltering recovery. The pace of
economic recovery is uncertain with weak performance in the manufacturing sector, while some
recovery is noted in the service sector

Under these circumstances, Kaneka Group’s business performance for 1Q was as follows. Consolidated net sales were ¥182,740 million (down 5.2% year-on-year), operating income was ¥5,603 million (down 54.1% year-on-year), ordinary income was ¥6,674 million (down 54.8% year-onyear), and net income attributable to owners of parent was ¥4,241 million (down 59.7% year-on-year). Under the severe demand environment, overseas demands in Material Solutions Unit (SU), E & I Technology, and Performance Fibers remained sluggish, while Health Care SU and Nutrition SU steadily contributed to profits. Both sales and profits decreased compared to the previous 1Q. Ordinary income and net profit have steadily improved since the previous 3Q (October 1 to December 31, 2022).