2021/2/3
IR (2897 1 )
NISSIN FOODS HOLDINGS CO., LTD. IR Office (TSE 2897)
2021 3 3
FY 3/2021 3Q Financial Supplemental Data
Page
Consolidated Statements of Income
1. 2020 3 3Q 2021 3 3Q 1. Financial Summary Results of FY 3/2020 3Q vs. FY 3/2021 3Q 1
2. 2019 3 2020 3 2. Financial Summary Results of FY 3/2019 vs. FY 3/2020 1
3. 2020 3 2021 3 3. Financial Summary of FY 3/2020 Results vs. FY 3/2021 Plan 1
4. 2020 3 2021 3 4. Financial Summary of FY 3/2020 Results vs. FY 3/2021 Revised Plan 1
5. 5. Consolidated Statements of Income 2
Financial Results by Segment
1. Revenue by Segment (Yearly) 3
2. Operating Profit and Operating Profit Margin by Segment (Yearly) 3
3. Revenue by Segment (Quarterly) 4
4. Operating Profit by Segment (Quarterly) 4
Major Factors for Difference in Operating Profit (Non-recurring Income and Expenses)
1. 2020 3 3Q 2021 3 3Q 1. Differences in Operating Profit of FY 3/2020 3Q vs. FY 3/2021 3Q 5
2. 2020 3 2021 3 2. Differences in Operating Profit of FY 3/2020 Results vs. FY 3/2021 Plan 5
3. 2021 3 3. Major Factors for Non-recurring Income and Expenses of FY 3/2021 (Quarterly) 6
4. 2020 3 4. Major Factors for Non-recurring Income and Expenses of FY 3/2020 (Quarterly) 6
Factors of Changes in Operating Profit
2021 3 Changes in Operating Profit of FY 3/2021 (Quarterly) 7
Exchange Rates and Foreign Exchange Impact
1. 1. Assumed Exchange Rates 8
2. 2. Exchange Rates 8
3. 3. Results of Overseas Businesses excluding Foreign Exchange Impact 9
Results of Associates Accounted for using the Equity Method (Quarterly) 10
2016 3 Main New Consolidated Companies (FY 3/2016-) 10
2016 3 Main Changes of Investment Ratios (FY 3/2016-) 10
Consolidated Statements of Financial Position (Quarterly) 11
Consolidated Statements of Income and Consolidated Cash Flows
1. ( ) 1. Consolidated Statements of Income (Quarterly) 12
2. ( ) 2. Consolidated Cash Flows (Quarterly) 12
2020 Medium-Term Business Plan 2021 Digest 13
Summary of Selected Data (Yearly)
1. 2018 3 - 1. Summary of Selected Data (FY 3/2018-) 15
2. J-GAAP -2018 3 2. Summary of Selected Data (J-GAAP) (-FY 3/2018) 17
Historical Data
1. 1. Operating Profit and Adjusted Operating Profit 19
2. EPS 2. Profit Attributable to Owners of the Parent and (Adjusted) EPS 19
3. (ROE) 3. Equity Attributable to Owners of Parent and ROE 19
4. 4. Capex, Depreciation and Amortization 20
5. 5. Cash Dividends per Share and Payout Ratio 20
6. PER 6. Market Capitalization of the year-end and PER 20
Worldwide Network of the NISSIN FOODS Group 21
IR 2021 3 IR News (FY 3/2021) 22
4 Monthly Year-on-Year Sales Amount Growth Rates for 4 Major Domestic Companies
1. 2021 3 1. YoY Change in Sales Amount (FY 3/2020 vs. FY 3/2021) 23
2. 2020 3 2. YoY Change in Sales Amount (FY 3/2019 vs. FY 3/2020) 23
Bag-type and Cup-type Instant Noodles Production in Japan 24
Average Price incl. Tax of Mainstay Products at Mass Merchandise Stores 24
Volume and Amount of Instant Noodles Production in Japan 25
) (CY2013-CY2019 Global Demand for Instant Noodles (by Region) (CY2013-CY2019 26
Market Data of Domestic Businesses 27
*FY 3/2021 2020 4 1 2021 3 31 / FY 3/2021 is between April 1, 2020 and March 31, 2021.
*2019 3 1Q IFRS / The company has applied IFRS from the 1Q of FY 3/2019.
* / Figures are calculated based on thousand yen and rounded down to the nearest million yen.
*FY (Fiscal Year), CY (Calendar Year).
/ Consolidated Statements of Income
1. 2020 3 3Q 2021 3 3Q / Financial Summary Results of FY 3/2020 3Q vs. FY 3/2021 3Q
/ Mil. Yen
FY 3/2020 FY 3/2021
3Q 3Q
Changes in Amount Changes in Ratio
/ Results / Results
/ Revenue 348,044 373,859 25,814 7.4%
/ Operating profit 35,533 49,966 14,433 40.6%
Profit attributable to owners of the parent 25,648 36,281 10,632 41.5%
2. 2019 3 2020 3 / Financial Summary Results of FY 3/2019 vs. FY 3/2020
/ Mil. Yen
FY 3/2019 FY 3/2020
/ Results / Results Changes in Amount Changes in Ratio
/ Revenue 450,984 468,879 17,894 4.0%
/ Operating profit 28,967 41,252 12,285 42.4%
Profit attributable to owners of the parent 19,356 29,316 9,960 51.5%
ROE (%) 5.9 9.0 3.1 -
EPS ( / Yen) 185.8 281.4 95.6 -
EPS / Adjusted EPS ( / Yen)*1 225.0 278.0 53.0 -
3. 2020 3 2021 3 / Financial Summary of FY 3/2020 Results vs. FY 3/2021 Plan
/ Mil. Yen
FY 3/2020 FY 3/2021
/ Results / Plan Changes in Amount Changes in Ratio
/ Revenue 468,879 486,000 17,120 3.7%
/ Operating profit 41,252 43,500 2,247 5.4%
Profit attributable to owners of the parent 29,316 30,500 1,183 4.0%
ROE (%) 9.0 9.0 0.0 -
EPS ( / Yen) 281.4 293 12 -
EPS / Adjusted EPS ( / Yen)*1 278.0 281 3 -
4. 2020 3 2021 3 / Financial Summary of FY 3/2020 Results vs. FY 3/2021 Revised Plan*2
/ Mil. Yen
FY 3/2021
FY 3/2020
/
/ Results Changes in Amount Changes in Ratio
Revised Plan*2
/ Revenue 468,879 500,000 31,120 6.6%
/ Operating profit 41,252 53,000 11,747 28.5%
Profit attributable to owners of the parent 29,316 37,500 8,183 27.9%
EPS ( / Yen) 281.4 360 79 -
*1 EPS ± ÷ ( )
*1 Adjusted EPS (Operating profit ± Other income,expenses Income tax expense - Profit attributable to non-controlling interests) / Average number of
shares outstanding (excluding treasury shares)
*2 2021 3 2021 1 5 / FY 3/2021 Plan was revised and announced on January 5, 2021.
1
5. / Consolidated Statements of Income
/ Mil. Yen
FY 3/2020 FY 3/2021
3Q 3Q / YoY
/ Results / Results
Ratio to Ratio to Changes in Changes in
Amount Amount
Revenue Revenue Amount Ratio
Revenue
348,044 100.0% 373,859 100.0% 25,814 7.4%
Cost of sales
222,152 63.8% 236,866 63.4% 14,713 6.6%
Gross profit
125,892 36.2% 136,993 36.6% 11,100 8.8%
Promotional expenses
9,227 2.7% 8,218 2.2% (1,009) (10.9%)
Advertising expenses
10,391 3.0% 10,128 2.7% (263) (2.5%)
Distribution expenses
27,767 8.0% 30,974 8.3% 3,207 11.5%
General and administrative expenses
46,924 13.5% 47,167 12.6% 243 0.5%
Total selling, general and administrative 94,310 27.1% 96,488 25.8% 2,177 2.3%
expenses
Gain on investments accounted for 3,533 1.0% 4,532 1.2% 999 28.3%
using the equity method
Other income
1,139 0.3% 6,196 1.7% 5,057 444.0%
Other expenses
720 0.2% 1,267 0.3% 546 75.8%
Operating profit
35,533 10.2% 49,966 13.4% 14,433 40.6%
Finance income
2,153 0.6% 1,633 0.4% (520) (24.2%)
Finance costs
713 0.2% 920 0.2% 206 28.9%
Profit before tax 36,973 10.6% 50,679 13.6% 13,706 37.1%
Income tax expense 9,994 2.9% 12,464 3.3% 2,470 24.7%
Profit 26,978 7.8% 38,215 10.2% 11,236 41.6%
Profit attributable to non-controlling 1,330 0.4% 1,934 0.5% 603 45.4%
interests
Profit attributable to owners of the parent 25,648 7.4% 36,281 9.7% 10,632 41.5%
Comprehensive income 22,522 6.5% 54,562 14.6% 32,039 142.3%
2
/ Financial Results by Segment
1 / Revenue by Segment (Yearly) / Mil. Yen
FY 3/20 Results
FY 3/19 vs FY 3/20
FY 3/2019 FY 3/2020 FY 3/2021 vs FY 3/21 Plan
/ Revenue
/ Results / Results / Plan*6
Changes in Amount Changes in Ratio Changes in Amount Changes in Ratio
NISSIN FOOD PRODUCTS
193,256 201,314 8,058 4.2% 206,000 4,685 2.3%
MYOJO FOODS
32,882 36,532 3,650 11.1% 36,540 7 0.0%
Chilled and frozen foods
55,424 57,306 1,882 3.4% 59,500 2,193 3.8%
42,204 41,934 (269) (0.6%) 44,500 2,565 6.1%
Confectionery and beverages *1
4,178 4,105 (72) (1.7%) 3,460 (645) (15.7%)
Domestic others*1,2
Domestic
327,945 341,194 13,248 4.0% 350,000 8,805 2.6%
The Americas
63,425 65,922 2,496 3.9% 68,000 2,077 3.2%
41,447 43,083 1,635 3.9% 47,000 3,916 9.1%
China (incl. H.K.)*3
11,378 11,250 (127) (1.1%) 13,500 2,249 20.0%
Asia*1
EMEA
6,787 7,429 641 9.5% 7,500 70 1.0%
EMEA*1
Overseas
123,038 127,684 4,645 3.8% 136,000 8,315 6.5%
Group total
450,984 468,879 17,894 4.0% 486,000 17,120 3.7%
2. / Operating Profit and Operating Profit Margin by Segment (Yearly)
/ Upper: Operating Profit, Lower: Operating Profit Margin / Mil. Yen
FY 3/20 Results
FY 3/19 vs FY 3/20
FY 3/2019 FY 3/2020 FY 3/2021 vs FY 3/21 Plan
/ Operating profit
/ Results / Results / Plan*6
Changes in Amount Changes in Ratio Changes in Amount Changes in Ratio
23,699 27,573 3,873 16.3% 28,000 426 1.5%
NISSIN FOOD PRODUCTS 12.3% 13.7% 1.4% 13.6% (0.1%)
2,041 2,193 151 7.4% 2,200 6 0.3%
MYOJO FOODS 6.2% 6.0% (0.2%) 6.0% 0.0%
1,534 1,410 (124) (8.1%) 1,700 289 20.5%
Chilled and frozen foods 2.8% 2.5% (0.3%) 2.9% 0.4%
2,468 2,193 (274) (11.1%) 2,400 206 9.4%
Confectionery and beverages *1,4 5.8% 5.2% (0.6%) 5.4% 0.2%
6,509 956 (5,553) (85.3%) 1,150 193 20.3%
Domestic others*1,2 155.8% 23.3% (132.5%) 33.2% 9.9%
36,253 34,327 (1,926) (5.3%) 35,450 1,122 3.3%
Domestic 11.1% 10.1% (1.0%) 10.1% 0.1%
(5,234) 4,080 9,315 - 4,300 219 5.4%
The Americas (8.3%) 6.2% 14.4% 6.3% 0.1%
3,843 4,865 1,022 26.6% 4,900 34 0.7%
China (incl. H.K.)*3 9.3% 11.3% 2.0% 10.4% (0.9%)
1,822 2,397 575 31.6% 3,400 1,002 41.8%
Asia*1,4 16.0% 21.3% 5.3% 25.2% 3.9%
EMEA 630 1,071 441 70.0% 1,400 328 30.6%
EMEA*1,4 9.3% 14.4% 5.1% 18.7% 4.2%
1,062 12,416 11,354 1,069.0% 14,000 1,583 12.8%
Overseas 0.9% 9.7% 8.9% 10.3% 0.6%
(3,119) (100) 3,019 - (50) 50 -
Other reconciliations *5
(5,227) (5,389) (162) - (5,900) (510) -
Group expenses*5
28,967 41,252 12,285 42.4% 43,500 2,247 5.4%
Group total 6.4% 8.8% 2.4% 9.0% 0.2%
*1
*2
*3
*3
*4 IFRS
*5
*6 2021 3 2021 1 5
*1 These are included in "Others" in the "Segment Information" of Summary of Consolidated Financial Statements.
*2 "Domestic others" includes NISSIN FOODS HOLDINGS and NISSIN ASSET MANAGEMENT, etc.
*3 The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*3 The results in China (including H.K.) are based on the consolidation policy of NISSIN FOODS HOLDINGS. Disclosure may differ from that of NISSIN FOODS CO.,LTD. (located in H.K.).
*4 Gain and loss on investments accounted for using the equity method is included in IFRS.
*5 These are included in "Reconciliations" in Summary of Consolidated Financial Statements.
*6 FY 3/2021 Plan was revised and announced on January 5, 2021. As the details of the revised plan are not disclosed, the initial plan is shown.
3
3 / Revenue by Segment (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021 FY 3/2020 vs FY 3/2021 / Change in Amount & Change in Ratio
Revenue 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD 43,414 49,050 58,304 50,544 201,314 48,063 48,969 57,884 154,917 4,648 10.7% (80) (0.2%) (420) (0.7%) 4,147 2.8%
PRODUCTS
MYOJO FOODS
8,391 8,705 9,862 9,573 36,532 9,659 8,463 9,912 28,035 1,267 15.1% (241) (2.8%) 49 0.5% 1,075 4.0%
Chilled and frozen 13,568 14,353 14,986 14,397 57,306 15,704 15,123 15,598 46,425 2,135 15.7% 769 5.4% 611 4.1% 3,516 8.2%
foods
Confectionery and 10,517 9,955 10,434 11,027 41,934 11,992 11,230 14,101 37,324 1,474 14.0% 1,275 12.8% 3,666 35.1% 6,417 20.8%
beverages*1
*1,2 977 1,087 1,121 919 4,105 792 871 745 2,409 (185) (18.9%) (215) (19.8%) (376) (33.5%) (776) (24.4%)
Domestic others
Domestic
76,870 83,151 94,709 86,462 341,194 86,211 84,659 98,241 269,112 9,341 12.2% 1,507 1.8% 3,531 3.7% 14,380 5.6%
The Americas
15,128 16,440 16,923 17,429 65,922 17,743 17,772 17,767 53,283 2,614 17.3% 1,332 8.1% 844 5.0% 4,791 9.9%
*3 9,635 11,332 10,184 11,931 43,083 11,512 12,769 11,050 35,332 1,877 19.5% 1,436 12.7% 866 8.5% 4,180 13.4%
China (incl. H.K.)
*1 2,737 2,873 2,857 2,782 11,250 2,954 3,290 3,227 9,472 217 7.9% 416 14.5% 370 13.0% 1,004 11.9%
Asia
EMEA
*1 1,522 1,668 2,009 2,229 7,429 2,138 2,079 2,439 6,658 616 40.5% 411 24.6% 430 21.4% 1,458 28.0%
EMEA
Overseas
29,023 32,314 31,974 34,371 127,684 34,349 35,911 34,486 104,747 5,325 18.3% 3,596 11.1% 2,512 7.9% 11,434 12.3%
Group total
105,894 115,466 126,683 120,834 468,879 120,561 120,570 132,727 373,859 14,666 13.9% 5,103 4.4% 6,043 4.8% 25,814 7.4%
4. / Operating Profit by Segment (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021 FY 3/2020 vs FY 3/2021 / Change in Amount & Change in Ratio
Operating profit 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD 4,668 7,068 10,676 5,161 27,573 8,730 7,816 10,017 26,565 4,062 87.0% 748 10.6% (658) (6.2%) 4,152 18.5%
PRODUCTS
MYOJO FOODS
612 719 1,093 (232) 2,193 1,610 752 718 3,080 997 162.7% 32 4.6% (374) (34.3%) 654 27.0%
Chilled and frozen 723 297 460 (70) 1,410 1,566 890 573 3,029 843 116.6% 592 199.4% 112 24.5% 1,548 104.6%
foods
Confectionery and 594 525 458 614 2,193 1,327 1,006 1,049 3,383 733 123.5% 480 91.4% 590 128.8% 1,804 114.3%
beverages*1,4
*1,2 256 232 769 (302) 956 234 697 (277) 653 (22) (8.8%) 465 200.2% (1,047) - (605) (48.1%)
Domestic others
Domestic
6,855 8,843 13,458 5,170 34,327 13,468 11,162 12,081 36,712 6,613 96.5% 2,319 26.2% (1,377) (10.2%) 7,555 25.9%
The Americas
1,396 1,006 1,212 465 4,080 1,910 1,491 587 3,989 514 36.8% 485 48.2% (625) (51.5%) 374 10.4%
*3 839 1,451 748 1,826 4,865 1,607 1,479 930 4,017 768 91.6% 27 1.9% 182 24.3% 978 32.2%
China (incl. H.K.)
836 921 948 (308) 2,397 1,245 1,259 847 3,352 409 49.0% 338 36.7% (101) (10.7%) 646 23.9%
Asia*1,4
EMEA
*1,4 160 237 779 (106) 1,071 718 527 611 1,857 557 347.2% 289 121.8% (168) (21.6%) 679 57.6%
EMEA
Overseas
3,232 3,617 3,689 1,877 12,416 5,482 4,758 2,976 13,217 2,250 69.6% 1,140 31.5% (712) (19.3%) 2,678 25.4%
Other (113) (18) 11 20 (100) (37) (70) 4,529 4,420 75 - (52) - 4,518 39,587.9% 4,541 -
*5
reconciliations
*5 (1,347) (1,347) (1,347) (1,347) (5,389) (1,461) (1,461) (1,461) (4,383) (113) - (113) - (113) - (341) -
Group expenses
Group total
8,627 11,094 15,811 5,719 41,252 17,452 14,388 18,125 49,966 8,825 102.3% 3,294 29.7% 2,314 14.6% 14,433 40.6%
*1
*2
*3
*3
*4 IFRS
*5
*1 These are included in "Others" in the "Segment Information" of Summary of Consolidated Financial Statements.
*2 "Domestic others" includes NISSIN FOODS HOLDINGS and NISSIN ASSET MANAGEMENT, etc.
*3 The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*3 The results in China (including H.K.) are based on the consolidation policy of NISSIN FOODS HOLDINGS. Disclosure may differ from that of NISSIN FOODS CO.,LTD. (located in H.K.).
*4 Gain and loss on investments accounted for using the equity method is included in IFRS.
*5 These are included in "Reconciliations" in Summary of Consolidated Financial Statements.
4
/ Major Factors for Difference in Operating Profit (Non-recurring Income and Expenses)
1. 2020 3 3Q 2021 3 3Q / Differences in Operating Profit of FY 3/2020 3Q vs. FY 3/2021 3Q
/ Mil. Yen
FY 3/2020 FY 3/2021
Difference in Non-
3Q 3Q Difference in
/ Results / Results Operating Profit
recurring Income Main Items of Non-recurring Income and Expenses *1
and Expenses
22,412 26,565 4,152 (75) FY 3/2021 103 / Impairment loss of property (103)
NISSIN FOOD PRODUCTS
2,425 3,080 654 (25)
MYOJO FOODS
FY3/2020 462 / Impact of liquidation of associate 462
1,480 3,029 1,548 (133) FY3/2021
Chilled and frozen foods 320 / Impact of liquidation of associate 320
1,578 3,383 1,804 (49)
Confectionery and beverages
1,258 653 (605) 302 FY 3/2020 355 / Impairment loss of property (355)
Domestic others
29,156 36,712 7,555 19
Domestic
3,614 3,989 374 (49)
The Americas
3,039 4,017 978 (6)
China (incl. H.K.)
2,706 3,352 646 12
Asia
EMEA
1,178 1,857 679 (63)
EMEA
10,538 13,217 2,678 (106)
Overseas
(120) 4,420 4,541 4,597 FY3/2021 4,589 / Gain on step acquisition (KOIKE-YA) 4,589
Other reconciliations
Group expenses
(4,042) (4,383) (341) -
35,533 49,966 14,433 4,510
Operating profit
2. 2020 3 2021 3 / Differences in Operating Profit of FY 3/2020 Results vs. FY 3/2021 Plan
/ Mil. Yen
FY 3/2020 FY 3/2021 Difference in Non-
*2 Difference in
/ Results / Plan
Operating Profit
recurring Income Main Items of Non-recurring Income and Expenses *1
and Expenses
27,573 28,000 426 (63)
NISSIN FOOD PRODUCTS
2,193 2,200 6 221
MYOJO FOODS
FY3/2020 462 / Impact of liquidation of associate 462
1,410 1,700 289 (128)
Chilled and frozen foods FY3/2021 300 / Impact of liquidation of associate 300
2,193 2,400 206 13
Confectionery and beverages
956 1,150 193 656 FY 3/2020 355 / Impairment loss of property (355), etc.
Domestic others
34,327 35,450 1,122 699
Domestic
4,080 4,300 219 64
The Americas
4,865 4,900 34 (38)
China (incl. H.K.)
2,397 3,400 1,002 758 FY 3/2020 657 / Impairment loss of property (657)
Asia
EMEA
1,071 1,400 328 (66)
EMEA
12,416 14,000 1,583 717
Overseas
(100) (50) 50 108
Other reconciliations
Group expenses
(5,389) (5,900) (510) -
41,252 43,500 2,247 1,525
Operating profit
*1 / "()" presents loss in "Main Items of Non-recurring Income and Expenses".
*2 2021 3 2021 1 5 / FY 3/2021 Plan was revised and announced on
January 5, 2021. As the details of the revised plan are not disclosed, the initial plan is shown.
5
3. 2021 3 / Major Factors for Non-recurring Income and Expenses of FY 3/2021 (Quarterly)
/ Mil. Yen
FY 3/2021
1Q 2Q 3Q 4Q FY Main Items of Non-recurring Income and Expenses
NISSIN FOOD PRODUCTS 29 (110) 15 (64) 2Q 103 / Impairment loss of property (103)
MYOJO FOODS 25 19 10 55
Chilled and frozen foods 311 3 7 322 1Q 320 / Impact of liquidation of associate 320
Confectionery and beverages 12 7 (20) (0)
Domestic others (74) 18 66 10
Domestic 304 (60) 79 323
The Americas 4 11 9 25
China (incl. H.K.) 70 (36) 74 108
Asia 28 13 (3) 38
EMEA
EMEA
(22) (26) (17) (66)
Overseas 81 (39) 63 106
Other reconciliations (5) (20) 4,525 4,499 3Q 4,589 / Gain on step acquisition (KOIKE-YA) 4,589
Non-recurring income and expenses 380 (119) 4,668 4,929
4. 2020 3 / Major Factors for Non-recurring Income and Expenses of FY 3/2020 (Quarterly)
/ Mil. Yen
FY 3/2020
1Q 2Q 3Q 4Q FY Main Items of Non-recurring Income and Expenses
NISSIN FOOD PRODUCTS 44 0 (33) 45 55
MYOJO FOODS 14 22 44 (242) (161)
Chilled and frozen foods 456 1 (2) (56) 398 1Q 462 / Impact of liquidation of associate 462
Confectionery and beverages 12 23 13 (40) 8
Domestic others 18 (340) 30 (331) (623) 2Q 355 / Impairment loss of property (355)
Domestic 547 (294) 51 (625) (321)
The Americas 28 44 1 (121) (47)
China (incl. H.K.) 25 76 13 69 184
Asia 5 4 15 (764) (738) 4Q 657 / Impairment loss of property (657)
EMEA
EMEA
(3) (22) 22 (33) (36)
Overseas 56 102 53 (850) (637)
Other reconciliations (16) (26) (55) (27) (125)
Non-recurring income and expenses 586 (218) 49 (1,502) (1,084)
6
/ Factors of Changes in Operating Profit
2021 3 / Changes in Operating Profit of FY 3/2021 (Quarterly)
/ Mil. Yen
FY 3/2021
1Q 2Q 3Q 4Q Total
/ Plan*4
Domestic 6,855 8,843 13,458 29,156 34,327
FY 3/2020 Overseas 3,232 3,617 3,689 10,538 12,416
Operating profit Reconciliations*2 (1,460) (1,365) (1,335) (4,162) (5,490)
Total 8,627 11,094 15,811 35,533 41,252
/ Marginal profit*1,3
Domestic 4,604 390 698 5,693 3,036
Overseas 1,476 1,051 787 3,314 1,585
Revenue Reconciliations*2 382 700 264 1,346 573
Total 6,463 2,142 1,750 10,355 5,196
Domestic 1,057 788 (38) 1,807 (952)
Overseas 505 105 (1,063) (452) (709)
Cost of goods sold ratio Reconciliations*2 (496) (756) (69) (1,322) (598)
Total 1,066 137 (1,171) 32 (2,260)
Domestic (402) (18) (546) (967) (1,273)
Overseas 61 (295) (369) (603) (457)
Distribution cost ratio Reconciliations*2 (33) (63) (90) (187) (117)
Total (375) (378) (1,006) (1,759) (1,849)
/ Fixed expenses
Domestic (98) (86) (60) (246) (207)
Overseas (50) (65) 55 (60) (42)
Depreciation and
amortization Reconciliations*2 2 1 2 6 4
Total (146) (150) (2) (299) (245)
Domestic 1,000 (233) (350) 416 133
Overseas (8) 107 (150) (52) (105)
Advertising expenses Reconciliations*2 - - - - -
Total 992 (126) (502) 364 28
Domestic 696 1,180 (1,346) 531 (313)
Overseas (206) (31) 178 (59) 279
General and administrative
expenses Reconciliations*2 94 (53) (282) (241) (430)
Total 585 1,096 (1,450) 231 (464)
/ Others
Domestic (1) 64 238 301 0
Gain(loss)on investments Overseas 447 410 (160) 698 315
accounted for using the Reconciliations*2 - - - - -
equity method
Total 446 475 78 1,000 315
Domestic (242) 234 27 19 699
Overseas 25 (141) 9 (106) 717
Other income and losses Reconciliations*2 11 5 4,580 4,597 108
Total (205) 98 4,618 4,510 1,525
Domestic 6,613 2,319 (1,376) 7,555 1,122
Overseas 2,250 1,140 (712) 2,678 1,583
Changes in operating profit Reconciliations*2 (38) (166) 4,404 4,199 (459)
Total 8,825 3,294 2,315 14,433 2,247
Domestic 13,468 11,162 12,081 36,712 35,450
FY 3/2021 Overseas 5,482 4,758 2,976 13,217 14,000
Operating profit Reconciliations*2 (1,499) (1,532) 3,068 36 (5,950)
Total 17,452 14,388 18,126 49,966 43,500
*1
( × ) ② ③
*2 ( )
*3 2020 3 2
*4 2021 3 2021 1 5
*1 The analysis of marginal profit is based on the amount obtained by adding selling expenses to revenue.
[Method of calculating increase/decrease factors]
1. Marginal profit = (Revenue in the current fiscal year x Ratio of revenue in the previous fiscal year) – Expenses in the current fiscal year
2. Fixed expenses = Expenses in the previous fiscal year – Expenses in the current fiscal year
3. Others = Results in the previous fiscal year – Results in the current fiscal year
*2 The analysis is made based on comparison using the rate from the previous fiscal year, variable costs in increase/decrease factors in each segment and subtotals
(domestic and overseas) and grand totals are not in accord. Therefore, reconciliations are used.
*3 From the 2Q of FY 3/2020, the calculation method has been changed in order to more accurately express the impact of price revisions.
*4 FY 3/2021 Plan was revised and announced on January 5, 2021. As the details of the revised plan are not disclosed, the initial plan is shown.
7
/ Exchange Rates and Foreign Exchange Impact
/ Assumed Exchange Rates
/ Yen
/ Each rate is an average rate calculated based on daily rates for the period.
FY 3/2021
/ Country FY 3/2015 FY 3/2016 FY 3/2017 FY 3/2018 FY 3/2019 FY 3/2020
Currency
Assumed*1
/ Consolidated Subsidiaries
the U.S.
USD 109.93 120.14 108.38 110.85 110.91 108.74 107.00
The
Mexico
MXN 8.01 7.26 5.64 5.99 5.74 5.61 5.70
Americas
Brazil
BRL 44.57 30.60 32.93 34.47 29.34 26.52 26.00
Hong Kong
HKD 13.65 15.49 13.97 14.20 14.14 13.91 14.00
China
China
CNY 17.19 18.85 16.11 16.75 16.54 15.60 15.59
Singapore
SGD 83.51 88.10 78.75 81.74 81.69 79.28 80.00
India
INR 1.75 1.90 1.63 1.73 1.60 1.55 1.60
Asia Thailand
THB 3.26 3.54 3.09 3.31 3.43 3.52 3.50
Vietnam
VND 0.00499 0.00553 0.00487 0.00488 0.00479 0.00468 0.00480
Indonesia
IDR 0.00820 0.00840 0.00780 0.00770 0.00790
EMEA Europe
EUR 140.42 134.31 120.33 129.70 128.41 120.82 121.00
/ Associates Accounted for using the Equity Method
Asia Philippines
PHP 2.68 2.31 2.25 2.11 2.12 2.10
EMEA
Russia
RUB 2.79 2.00 1.63 1.93 1.77 1.69 1.65
*1 2021 1 5
*1: FY 3/2021 Plan was revised and announced on January 5, 2021. As the details of the revised plan are not disclosed, the initial assumed exchange rates
are shown.
2 / Exchange Rates
/ Yen
FY 3/2015 FY 3/2016 FY 3/2017 FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021
/ Country
Currency 3Q 3Q 3Q 3Q 3Q 3Q 3Q
/ Consolidated Subsidiaries
the U.S.
USD 106.87 121.70 106.63 111.70 111.14 108.67 106.11
The
Mexico
MXN 8.02 7.54 5.66 6.06 5.74 5.64 4.84
Americas
Brazil
BRL 45.50 31.63 31.85 34.82 29.37 27.18 19.71
Hong Kong
HKD 13.28 15.70 13.75 14.31 14.18 13.87 13.69
China
China
CNY 16.72 19.26 15.95 16.64 16.61 15.60 15.44
Singapore
SGD 81.87 88.69 79.17 81.60 81.80 79.48 77.03
India
INR 1.71 1.92 1.60 1.75 1.61 1.56 1.43
Asia Thailand
THB 3.18 3.59 3.08 3.27 3.41 3.52 3.39
Vietnam
VND 0.00487 0.00556 0.00486 0.00491 0.00481 0.00468 0.00457
Indonesia
IDR 0.00820 0.00840 0.00780 0.00770 0.00730
EMEA Europe
EUR 139.54 134.77 121.17 128.53 129.49 121.05 122.38
/ Associates Accounted for using the Equity Method
Asia Philippines
PHP 2.71 2.33 2.25 2.10 2.11 2.17
EMEA
Russia
RUB 2.91 2.05 1.59 1.92 1.79 1.68 1.53
8
3 / Results of Overseas Businesses excluding Foreign Exchange Impact
/ Mil. Yen
FY 3/2020 FY 3/2021 / YoY FY 3/2021 / YoY
3Q 3Q 3Q
( )
FX Impact
Results*1 Results*1 Changes in Changes in Results Changes in Changes in
Amount Ratio (Disclosed)
*2 Amount Ratio
/ Revenue
/ The Americas 48,492 61,405 12,913 26.6% (8,122) 53,283 4,791 9.9%
/ China (incl. H.K.) 31,151 35,736 4,584 14.7% (404) 35,332 4,180 13.4%
/ Asia 8,468 9,998 1,530 18.1% (525) 9,472 1,004 11.9%
EMEA / EMEA 5,200 6,585 1,385 26.6% 72 6,658 1,458 28.0%
/ Revenue 93,312 113,726 20,413 21.9% (8,979) 104,747 11,434 12.3%
/ Operating Profit
/ The Americas 3,614 4,947 1,333 36.9% (958) 3,989 374 10.4%
/ China (incl. H.K.) 3,039 4,064 1,024 33.7% (46) 4,017 978 32.2%
/ Asia 2,706 3,377 671 24.8% (25) 3,352 646 23.9%
EMEA / EMEA 1,178 1,978 800 67.9% (121) 1,857 679 57.6%
/ Operating profit 10,538 14,368 3,829 36.3% (1,151) 13,217 2,678 25.4%
*1: FY 3/2021 3Q FY 3/2021 3Q ×FY 3/2020 3Q
*1:
*2: FY 3/2021 3Q ( ) FY 3/2021 3Q ×FY 3/2021 3Q
*1: FY 3/2021 3Q Results = FY 3/2021 3Q local currency results multiplied by the average FX rates of FY 3/2020 3Q
*1: If there is a newly consolidated company, the average FX rates for current year are applied.
*2: FY 3/2021 3Q Results (Disclosed)= FY 3/2021 3Q local currency results multiplied by the average FX rates of FY 3/2021 3Q
9
/ Results of Associates Accounted for using the Equity Method (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021
Ratio of
Company Segment 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Share-holding *5
Confectionery and 34.53% 24 53 (16) 98 159 22 117 222 362
KOIKE-YA*1 beverages
Asia
20.02% 604 668 743 716 2,733 702 771 671 2,146
Thai President*2
NURC*3 Asia
49.00% 190 193 192 158 736 229 263 227 720
EMEA
EMEA
33.50% 184 158 535 35 914 494 396 412 1,303
MAREVEN*4
/ Total 1,003 1,073 1,455 1,009 4,543 1,449 1,549 1,533 4,532
*1 KOIKE-YA Inc.
2020 12 3Q 5 / Became a consolidated subsidiary in December 2020, 5 months of
gain on investments accounted for using the equity method accounted for 3Q.
*2 Pub. Co., Ltd. / Thai President Foods Public Company Limited.
*3 - Corporation / NISSIN-UNIVERSAL ROBINA CORP.
*4 Ltd. / MAREVEN FOOD HOLDINGS LIMITED.
*5 2020 3 / The column of "Ratio of Shareholding" shows the ratio at the end of March 2020.
2016 3 / Main New Consolidated Companies (FY 3/2016-)
2016 3 1 / From FY 3/2016 1Q
Zhejiang Nissin Foods Co., Ltd. (China)
2016 3 3 / From FY 3/2016 3Q
Ltda.
NISSIN FOODS DO BRASIL LTDA. (The Americas)
2017 3 1 / From FY 3/2017 1Q
PT.
BonChi Co., Ltd. (Confectionery and beverages), PT.NISSIN FOODS INDONESIA (Asia)
2017 3 4 / From FY 3/2017 4Q
MC Marketing & Sales ( )
MC Marketing & Sales(Hong Kong) Limited (China)
2019 3 1 / From FY 3/2019 1Q
Kagome Nissin Foods (H.K.) Co., Ltd. (China)
2020 3 3 / From FY 3/2020 3Q
Zhuhai Nissin Packaging Company Limited (China)
2020 3 4 / From FY 3/2020 4Q
Hong Kong Eastpeak Limited (China), SHANGHAI EASTPEAK TRADING CO., LTD (China)
2021 3 / From FY 3/2021 1Q
CO.,LTD.
NISSIN FOODS ASIA CO., LTD. (Asia)
2021 3 / From FY 3/2021 2Q
Valley Farm Holdings Limited (China)
2021 3 / From FY 3/2021 3Q
KOIKE-YA Inc. (Confectionery and beverages)
2016 3 / Main Changes of Investment Ratios (FY 3/2016-)
2015 11 17 100 66.0
*
Investment ratio decreased from 100% to 66.0% on November 17, 2015
PTE.LTD.
NISSIN FOODS SINGAPORE PTE. LTD.
*
2015 12 3 100 66.0
Investment ratio decrease from 100% to 66.0% on December 3, 2015 *
CO., LTD.
NISSIN FOODS THAILAND CO., LTD.
*
2016 4 1 100 66.0
Investment ratio decrease from 100% to 66.0% on April 1, 2016*
PT.
PT.NISSIN FOODS INDONESIA
*
2016 5 27 100 65.6
Investment ratio decrease from 100% to 65.6% on May 27, 2016*
LTD.
Nissin Foods India Ltd.
2017 12 11 98.5 73.9
Investment ratio decrease from 98.5% to 73.9% on December 11, 2017 by Hong Kong subsidiary's listing
NISSIN FOODS CO., LTD (China incl. H.K.) in charge of overall control of China business including those conducted in Hong Kong area.
2019 3 25 73.9 70.0
Investment ratio decrease from 73.9% to 70.0% on March 25, 2019 by partial disposal of shares in the Hong Kong subsidiary
NISSIN FOODS CO., LTD (China incl. H.K.) in charge of overall control of China business including those conducted in Hong Kong area.
* / Strategic alliance with Mitsubishi Corp.
10
/ Consolidated Statements of Financial Position (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021
Compared with
the Preivous Main Reasons of the Differences between Previous Year
1Q 2Q 3Q 4Q Period End
Period End
Assets
Cash and cash equivalents 60,163 60,588 59,173 68,796 8,632
Trade and other receivables 77,932 66,874 74,533 91,511 13,579 Increase due to change in consolidated subsidiary
Inventories 32,454 37,967 39,442 38,262 5,808
Income taxes receivable 2,701 2,905 568 838 (1,863)
Other financial assets 10,273 10,251 14,732 12,185 1,911
Other current assets 4,258 5,538 5,973 6,833 2,575
Total current assets 187,784 184,126 194,423 218,427 30,643
Property, plant and equipment 240,063 240,611 243,008 253,880 13,817 Increase due to change in consolidated subsidiary
Goodwill and intangible assets 3,806 4,444 4,597 12,264 8,458 Increase due to change in consolidated subsidiary
Investment property 7,108 7,096 7,085 7,365 256
Investments accounted for using the equity method 47,436 43,478 45,539 40,302 (7,134) Decrease due to change in consolidated subsidiary
Other financial assets 77,209 93,347 101,318 104,596 27,386 Increase due to gain on valuation of investment securities
Deferred tax assets 12,844 12,563 12,365 12,388 (455)
Other non-current assets
368 401 481 522 153
Total non-current assets 388,837 401,943 414,394 431,320 42,482
Total assets 576,621 586,069 608,818 649,748 73,126
Liabilities
Trade and other payables 104,815 102,292 102,989 120,225 15,409 Increase due to change in consolidated subsidiary
Borrowings 6,631 6,666 5,944 6,314 (316)
Provisions 337 196 254 258 (79)
Accrued income taxes 6,294 5,312 8,207 7,829 1,535
Other financial liabilities 3,418 3,582 4,051 3,852 433
Other current liabilities 20,183 16,049 16,765 17,614 (2,568)
Total current liabilities 141,681 134,100 138,214 156,095 14,414
Borrowings 41,630 41,157 40,726 42,099 469
Other financial liabilities 18,350 18,146 17,448 18,356 6
Defined benefit liabilities 5,828 5,940 6,037 7,910 2,081
Provisions 207 226 226 197 (10)
Deferred tax liabilities 12,393 14,093 16,077 16,898 4,504
Other non-current liabilities 2,467 2,423 2,371 2,754 287
Total non-current liabilities 80,877 81,988 82,887 88,217 7,339
Total liabilities 222,558 216,089 221,102 244,312 21,753
Equity
Share capital 25,122 25,122 25,122 25,122 -
Capital surplus 50,639 50,640 50,638 50,638 (1)
Treasury shares (6,660) (6,659) (6,655) (6,656) 3
Other components of equity 12,275 21,820 28,808 29,014 16,738 Increase due to gain on valuation of investment securities
Retained earnings 246,616 252,955 262,887 271,476 24,859
Total equity attributable to owners of the parent 327,994 343,879 360,801 369,595 41,601
Non-controlling interests 26,068 26,100 26,914 35,839 9,771 Increase due to change in consolidated subsidiary
Total equity 354,063 369,980 387,716 405,435 51,372
Total liabilities and equity 576,621 586,069 608,818 649,748 73,126
11
/ Consolidated Statements of Income and Consolidated Cash Flows
1 / Consolidated Statements of Income (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Revenue
105,894 115,466 126,683 120,834 468,879 120,561 120,570 132,727 373,859
Gross profit
37,178 41,399 47,314 41,387 167,279 45,242 43,753 47,996 136,993
Operating profit
8,627 11,094 15,811 5,719 41,252 17,452 14,388 18,125 49,966
Profit before tax
9,292 11,135 16,545 5,676 42,650 17,979 14,168 18,531 50,679
Profit
6,159 8,221 12,597 4,143 31,122 12,818 10,584 14,812 38,215
Profit attributable to owners of the 5,800 7,669 12,178 3,668 29,316 12,095 9,878 14,307 36,281
parent
2 / Consolidated Cash Flows (Quarterly)
/ Mil. Yen
FY 3/2020 FY 3/2021
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Cash flows from operating activities
13,206 7,399 20,805 16,122 57,533 19,652 14,660 18,257 52,571
Cash flows from investing activities
(12,029) (12,405) (7,979) (7,999) (40,413) (10,301) (13,843) (4,300) (28,445)
Cash flows from financing activities
(2,255) 2,687 (7,493) (3,082) (10,142) (8,400) (2,457) (5,741) (16,599)
Effect of exchange rate changes on (1,466) (1,312) 1,255 (2,416) (3,939) (525) 225 1,406 1,106
cash and cash equivalents
Net increase (decrease) in cash and (2,544) (3,629) 6,587 2,624 3,037 425 (1,415) 9,622 8,632
cash equivalents
Cash and cash equivalents at 57,125 54,581 50,951 57,539 57,125 60,163 60,588 59,173 60,163
beginning of quarters
Cash and cash equivalents at end of 54,581 50,951 57,539 60,163 60,163 60,588 59,173 68,796 68,796
quarters
12
2020 / Medium-Term Business Plan 2021 Digest
1 EARTH FOOD CREATOR / NISSIN FOODS Group Philosophy "EARTH FOOD CREATOR"
We contribute to society and the planet by gratifying people everywhere with pleasures and delights food can provide.
2 EARTH FOOD CREATOR / Embodiment of the "EARTH FOOD CREATOR" Concept
FY 3/2016 / Results FY 3/2021 / Long Term Vision
EARTH FOOD CREATOR
Pursue global status. Gain a strong global reputation. Embody the "EARTH FOOD CREATOR"
22
11 30 50
Overseas sales ratio: 22% Overseas Operating profit ratio: More than 30% Overseas Operating profit ratio: More than 50%
Overseas Operating income ratio: 11%
ROE 7.4% ROE 8 / More than 8% ROE 10 / More than 10%
*1
1
5,700
Market Capitalization 570.0 Bil. We will steadily aim to achieve market capitalization of one trillion yen *1,
which regardless of the timing we consider a minimum target.
3 KPI / KPIs and Targets of the new Medium-Term Business Plan / Mil. Yen
J-GAAP IFRS IFRS
FY 3/2016 FY 3/2021 FY 3/2021
Theme KPI
/ Results / Plan*7 / Revised
( ) (Net sales) Revenue 468,100 480,000 486,000
Earning power
centered on core Adjusted Operating Income*2 24,700 - -
businesses Operating Profit - 42,500 43,500
Market Capitalization 570,000 - -
Net income*3 26,900 30,000 30,500
8
Corporate value in ROE (%) 7.4 More than 8%
9
the capital market *4
EPS ( ) / Adjusted EPS (Yen) (J-GAAP) 196 - -
*5,6
EPS ( ) / Adjusted EPS (Yen) (IFRS) 189 284 281
4 / Financial Policies
2,150 -
5
Five-year Investment Budget Capex: 215.0 billion yen, Business investment: -
FY 3/2021 (Control of the total amount of business investment including capital expenditure is required)
( / Plan*7)
40%
Policy on Shareholder Returns Payout ratio: 40% or above on the average for the five-year period
2,251 -
5
Five-year Investment BudgetCapex: 225.1 billion yen, Business investment: -
FY 3/2021 (Control of the total amount of business investment including capital expenditure is required)
( / Estimate) 2021 3 / 110
2017 3 -2021 3 5 :41.3
Policy on Shareholder Returns Dividend per share of FY 3/2021 (plan): 110 yen
Payout ratio: An average of 41.3% over the five years from FY 3/2017 to FY 3/2021 (Estimate)
/ Mil. Yen
J-GAAP IFRS 5 / Mid-Term Total
FY 3/2017 FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021 FY 3/2021
/ Results / Results / Results / Results / Estimate / Estimate
36,340 52,010 57,603 39,743 39,400 225,100
Capital Investment
*1 = ( ) 2
*2 -
*3 IFRS
*4 EPS= - ÷
*5 EPS IFRS
*6 IFRS EPS (IFRS ± - )÷ ( )
*7 2020 2019 5 9
*1 Market capitalization= Share price at year-end × Number of shares outstanding excluding treasury shares , Drop the last 2 figures
*2 Adjusted Operating income (J-GAAP) = Operating income(based on J-GAAP)-Impact from retirement benefit accounting
*3 Net income attributable to owners of parent based on J-GAAP, Profit attributable to owners of parent based on IFRS
*4 Adjusted EPS(J-GAAP)=(Adjusted Operating income after tax + Equity earnings of affiliate companies + Amortization of goodwill) /Average number of shares outstanding (excluding treasury shares)
*5 The method of calculating adjusted EPS was revised due to the introduction of IFRS.
*6 Adjusted EPS(IFRS)= (Operating Profit ± Other income,expenses - Income tax expense - Profit attributable to non-controlling interests) /Average number of shares outstanding (excluding treasury shares)
*7 The Medium-Term Business Plan 2021 was revised and announced on May 9, 2019.
13
5 / Strategy to Achieve Targets
Promoting Global Branding: Accelerate the expansion of high value-added CUP NOODLES worldwide with the aim of improving profitability outside Japan.
BRICs( )
Focusing on Priority Locations: Allocate management resources to BRICs (China, India, Brazil and Russia) as prioritized areas and realize profit growth.
Laying Stronger Foundations for our Domestic Profit Base: Realize sustainable stable profits through the cultivation of domestic instant noodles market
and the investment in sophisticating plants for higher safety and less workers.
2 1,000 /
Establish a second Primary Revenue Source: Confectionery and cereal business targets to achieve 100.0 billion yen. Profit growth of domestic
businesses contributed by chilled and frozen business and beverage business.
Developing and Strengthening Human Resources for Global Management Accelerate global management through the increase of managerial talent by
fostering human resource and employing external talents like the two wheels of a cart.
6 / Targets under the new Medium-Term Business Plan
/ Mil. Yen
IFRS
FY 3/2021 FY 3/2021
Difference
/ Domestic Plan*2 Revised Plan
/ Revenue 238,000 242,540 4,540
Instant noodles / Operating Profit 29,500 30,200 700
business
/ Operating Profit Margin (%) 12.4% 12.5% 0.1%
/ Revenue 103,000 104,000 1,000
Chilled and frozen,
Confectionery and
/ Operating Profit 5,200 4,100 (1,100)
beverages / Operating Profit Margin (%) 5.0% 3.9% (1.1%)
/ Overseas
/ Revenue 67,500 68,000 500
The Americas
/ Operating Profit 3,700 4,300 600
/ Operating Profit Margin (%) 5.5% 6.3% 0.8%
/ Revenue 47,000 47,000 -
/ Operating Profit 4,700 4,900 200
China (incl. H.K.)*1
/ Operating Profit Margin (%) 10.0% 10.4% 0.4%
/ Revenue 13,000 13,500 500
Asia
/ Operating Profit 2,700 3,400 700
/ Operating Profit Margin (%) 20.8% 25.2% 4.4%
/ Revenue 7,500 7,500 -
EMEA / Operating Profit 1,300 1,400 100
/ Operating Profit Margin (%) 17.3% 18.7% 1.4%
*1 / The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*2 2020 2019 5 9 / The Medium-Term Business Plan 2021 was revised and announced on May 9, 2019.
7 / Achieving Revenue and Operating Profit Targets
/ Domestic Business
□ / Instant noodles
□□ / NISSIN FOOD PRODUCTS
100 Targeting new markets and strengthening brand capabilities, with the aim of creating brands to last 100 years
Capital investment aimed at saving labor, improving safety/security and cutting costs
□□ / MYOJO FOODS
Growing core brands and developing new brands
/ Chilled and frozen foods
Building on technical and brand capabilities to expand high value-added products and increase margins
/ Confectionery and beverages
2 Developing confectionery business into a second pillar that generates revenue and profit
Continuing to grow Goro-Gra and expanding lactobacillus drinks in the healthcare market
◆ / Overseas Business
/ The Americas
Achieve substantial growth in Brazil, capitalizing on cup-type instant noodles growth
Strengthen product sales and brands based on an awareness of diversifying food needs in the U.S.
□ / China & Hong Kong
NO.1 Maintain overwhelming leading share of the growing premium market
Optimize balance of investment between expanding market area and increase capacity
/ Asia
Target high income earners, revolving around CUP NOODLES
Collaborate with Mitsubishi Corporation
Tailor strategies to suit individual countries
EMEA
Transition from stable profit base to revenue and profit growth phase in Europe
14
/ Summary of Selected Data (Yearly)
1. 2018 3 - / Summary of Selected Data (FY 3/2018-)
/ Mil. Yen
FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021
/ Results / Results / Results / Plan
Domestic revenue 323,115 327,945 341,194 350,000
Overseas revenue 117,794 123,038 127,684 136,000
Revenue 440,909 450,984 468,879 486,000
Growth rate (%) - 2.3 4.0 3.7
Portion of overseas revenue (%) 26.7 27.3 27.2 28.0
Overseas OP ratio (%) 17.9 2.8 26.6 28.3
Cost of sales
282,837 295,823 301,599 -
Cost of sales ratio (%)
64.1 65.6 64.3 -
Advertising expenses ratio (%)
3.3 3.2 3.0 -
Advertising expenses ratio (%)
7.6 8.0 7.9 -
Promotional expenses ratio (%) 2.7 2.7 2.7 -
Operating profit 35,175 28,967 41,252 43,500
Operating profit ratio (%) 8.0 6.4 8.8 9.0
Profit attributable to owners of the parent 29,134 19,356 29,316 30,500
Comprehensive income 37,178 8,409 13,355 -
Total equity 353,128 352,545 354,063 -
Total assets
528,726 557,577 576,621 -
Equity attributable to owners of the parent to total 62.4 58.6 56.9 -
assets (%)
ROE (%) 9.2 5.9 9.0 9.0
ROA (%)
7.3 5.7 7.5 -
* 2020 KPI ◆
*
* 2021 3 2021 1 5
* ◆ = KPIs of Medium-Term Business Plan 2021.
* "Domestic revenue" and "Overseas revenue" are based on the location to which goods are sold, therefore the figures differ from "Results by
* FY 3/2021 Plan was revised and announced on January 5, 2021. As the details of the revised plan are not disclosed, the initial plan is shown.
15
/ Mil. Yen
FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021
/ Results / Results / Results / Plan
EBITDA*1 52,101 49,182 62,985 63,604
Cash flows from operating activities 44,893 40,740 57,533 -
Cash flows from investing activities (47,784) (44,544) (40,413) -
Cash flows from financing activities (11,126) 13,069 (10,142) -
+ -
Working capital 41,866 44,240 53,052 -
(Accounts receivable + Inventory - Accounts payable)
Number of shares outstanding 104,134 104,156 104,170 -
(excluding treasury shares) (Thousands of shares)
( )
Number of shares outstanding 117,463 105,700 105,700 -
(including treasury shares) (Thousands of shares)
( )
Average number of shares outstanding (Thousands of shares) 104,122 104,150 104,165 -
1
Book-value per share (BPS) (Yen) 3,166.83 3,137.40 3,148.62 -
1
Basic earnings per share (EPS) (Yen) 279.81 185.85 281.45 293
( EPS)
Adjusted EPS*2 (Yen)
262.54 225.00 278.02 281
(3 )
Share price at year-end (Yen) 7,380 7,600 9,000 -
Market capitalization(excluding treasury shares) 768,511 791,591 937,536 -
Market capitalization(including treasury shares) 866,881 803,320 951,300 -
PER (Times) 26.4 40.9 32.0 -
Cash dividends per share (Yen) 90 110 110 110
Payout ratio (%) 32.2 59.2 39.1 37.6
Capex 52,010 57,602 39,742 39,400
Depreciation and amortization 17,752 20,304 25,191 25,400
R&D expenses 7,777 9,335 7,549 -
Number of employees (Person) 12,102 12,539 12,983 -
* 2020 KPI ◆
* 2021 3 2021 1 5 2021 2 3 2021 3
55 10 110 120
*1 EBITDA = ( ± - )
*2 EPS IFRS
EPS ( ± - )÷ ( )
* ◆ = KPIs of Medium-Term Business Plan 2021.
* FY 3/2021 Plan was revised and announced on January 5, 2021. As the details of the revised plan are not disclosed, the initial plan is shown.
As announced on February 3, 2021, the year-end dividend for FY 3/2021 (forecast) includes a "commemorative dividend of 1 trillion yen in market capitalization" of 10 yen
in addition to the ordinary dividend of 55 yen, resulting in an annual dividend forecast of 120 yen from 110 yen.
*1 EBITDA = (Operating profit ± Other income,expenses - Equity earnings of affiliates + Depreciation and amortization)
*2 The method of calculating adjusted EPS was revised due to the introduction of IFRS.
Adjusted EPS = (Operating profit ± Other income,expenses Income tax expense - Profit attributable to non-controlling interests)/ Average no. of shares outstanding (excluding
treasury shares)
16
2. J-GAAP 2018 3 / Summary of Selected Data (J-GAAP) (-FY 3/2018)
/ Mil. Yen
FY 3/2014 FY 3/2015 FY 3/2016 FY 3/2017 FY 3/2018
/ Results / Results / Results / Results / Results
Domestic net sales 343,931 348,821 367,142 385,696 394,078
Overseas net sales 73,689 82,755 100,941 110,019 122,322
Net sales 417,620 431,575 468,084 495,715 516,400
Growth rate (%) 9.1 3.3 8.5 5.9 4.2
Portion of overseas sales (%) 17.6 19.2 21.6 22.2 23.7
Overseas OP ratio (%) 5.2 5.8 9.4 10.8 9.2
Cost of sales 231,309 242,915 260,496 270,219 282,271
Cost of sales ratio (%) 55.4 56.3 55.7 54.5 54.7
Advertising expenses ratio (%) 2.8 2.9 3.1 3.1 2.8
Distribution expenses ratio (%) 5.8 6.3 6.3 6.3 6.5
Promotional expenses ratio (%) 18.2 18.1 17.5 17.7 17.6
Operating income 27,705 24,300 26,399 28,618 34,112
Adjusted Operating income *1
27,028 23,203 24,662 32,893 33,429
Operating income ratio (%) 6.6 5.6 5.6 5.8 6.6
Adjusted Operating income ratio (%) 6.5 5.4 5.3 6.6 6.5
Ordinary income 34,840 32,980 30,733 32,864 40,588
Net income attributable to owners of the parent 19,268 18,505 26,884 23,558 29,104
Comprehensive income 37,410 37,955 19,606 10,991 33,236
Total equity 342,300 369,852 371,688 353,517 391,776
Total assets 479,469 512,743 553,068 537,180 568,111
Ratio of equity attributable to owners of the parent to 69.4 70.6 65.1 63.5 64.5
total assets (%)
ROE (%) 6.0