2021/11/5
IR (2897 1 )
NISSIN FOODS HOLDINGS CO., LTD. IR Office (TSE 2897)
2022 3 2
FY 3/2022 2Q Financial Supplemental Data
Page
Summary
1. 2021 3 2Q 2022 3 2Q 1. Financial Summary Results of FY 3/2020 2Q vs. FY 3/2021 2Q 1
2. 2021 3 2Q 2022 3 2Q 2. Financial Summary Results of FY 3/2021 2Q vs. FY 3/2022 2Q (Constant Currency Basis) 1
3. 2021 3 2022 3 3. Financial Summary of FY 3/2021 Results vs. FY 3/2022 Plan 1
2022 3 FY 3/2022 Plan by Segment
1. 1. Plan of Revenue by Segment (Yearly) 2
2. 2. Plan of Core Operating Profit and Core Profit Margin by Segment (Yearly) 2
2022 3 FY 3/2022 Results by Segment
1. 1. Revenue by Segment (Quarterly) 3
2. 2. Core Operating Profit by Segment (Quarterly) 3
3. 3. Revenue by Segment on Constant Currency Basis (Quarterly) 4
4. 4. Core Operating Profit by Segment on Constant Currency Basis (Quarterly) 4
Consolidated Statements of Income 5
Main Items of Other Income and Expenses 6
Exchange Rates
1. 1. Exchange Rates (Yearly) 7
2. 2. Exchange Rates (Quarterly) 7
Factors of Changes in Core Operating Profit of Existing Businesses 8
Consolidated Statements of Financial Position (Quarterly) 9
Consolidated Statements of Income and Consolidated Cash Flows
1. ( ) 1. Consolidated Statements of Income (Quarterly) 10
2. 2. Consolidated Statements of Income on Constant Currency Basis (Quarterly) 10
3. ( ) 3. Consolidated Cash Flows (Quarterly) 10
2016 3 - Main New Consolidated Companies (FY 3/2016-) 11
Mid-Long Term Growth Strategy Digest 12
Summary of Selected Data (Yearly) 13
4 Monthly Year-on-Year Sales Amount Growth Rates for 4 Major Domestic Companies
1. 2022 3 1. YoY Change in Sales Amount (FY 3/2021 vs. FY 3/2022) 15
2. 2021 3 2. YoY Change in Sales Amount (FY 3/2020 vs. FY 3/2021) 15
Average Price incl. Tax of Mainstay Products at Mass Merchandise Stores 16
Volume and Amount of Instant Noodles Demand in Japan 17
) (CY2014-CY2020 Global Demand for Instant Noodles (by Region) (CY2014-CY2020 18
Market Data of Domestic Non-Instant Noodles Business 19
*FY 3/2022 2021 4 1 2022 3 31
*2019 3 1Q IFRS
*
*FY (Fiscal Year), CY (Calendar Year).
*2022 3 1Q
*FY 3/2022 is between April 1, 2021 and March 31, 2022.
*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).
*Revenue, Core operating profit from exisiting businesses and Operating profit are disclosed on a constant currency basis (constant currency basis: foreign currency amounts for
the current period are converted to yen using the exchange rate for the same period of the previous fiscal year)
/ Summary
1. 2021 3 2Q 2022 3 2Q / Financial Summary Results of FY 3/2021 2Q vs. FY 3/2022 2Q
/ Mil. Yen
FY 3/2021 FY 3/2022
2Q 2Q
Changes in Amount Changes in Ratio
/ Results / Results
Revenue
COVID-19
Including COVID-19 impact 241,131 33,905 14.1%
COVID-19 275,037
Excluding COVID-19 impact 229,099 45,937 20.1%
*1
Core operating profit of existing businesses
COVID-19
Including COVID-19 impact
31,846 (4,725) (14.8%)
COVID-19 27,120
Excluding COVID-19 impact 23,671 3,448 14.6%
Operating profit
COVID-19
Including COVID-19 impact 31,840 (5,004) (15.7%)
COVID-19 26,836
Excluding COVID-19 impact 23,666 3,169 13.4%
Profit attributable to owners of the parent 21,973 17,122 (4,851) (22.1%)
2. 2021 3 2Q 2022 3 2Q / Financial Summary Results of FY 3/2021 2Q vs. FY 3/2022 2Q (Constant Currency Basis)*2
/ Mil. Yen
FY 3/2022
FY 3/2021
2Q
2Q
Changes in Amount Changes in Ratio
/ Results
Constant currency basis
Revenue
COVID-19
Including COVID-19 impact 241,131 29,381 12.2%
COVID-19 270,512
Excluding COVID-19 impact 229,099 41,412 18.1%
Core operating profit of existing businesses *1
COVID-19
Including COVID-19 impact 31,846 (5,141) (16.1%)
COVID-19 26,704
Excluding COVID-19 impact 23,671 3,032 12.8%
Operating profit
COVID-19
Including COVID-19 impact 31,840 (5,415) (17.0%)
COVID-19 26,425
Excluding COVID-19 impact 23,666 2,758 11.7%
3. 2021 3 2022 3 / Financial Summary of FY 3/2021 Results vs. FY 3/2022 Plan
/ Mil. Yen
FY 3/2021 FY 3/2022
/ Results / Plan Changes in Amount Changes in Ratio
Revenue
COVID-19
Including COVID-19 impact 506,107 33,892 6.7%
COVID-19 540,000
Excluding COVID-19 impact 489,632 50,367 10.3%
*1
Core operating profit of existing businesses
COVID-19
Including COVID-19 impact
52,382 (5,382) (10.3%)
COVID-19 47,000
Excluding COVID-19 impact 41,872 5,127 12.2%
*3
Operating profit
(13,032) (23.5%)
COVID-19 55,532
Including COVID-19 impact 42,500 (11,032) (19.9%)
COVID-19
44,500 (2,522) (5.6%)
Excluding COVID-19 impact 45,022
(522) (1.2%)
31,000 (9,828) (24.1%)
Profit attributable to owners of the parent*3
40,828
33,000 (7,828) (19.2%)
298 (94)
EPS ( / Yen)*3 391.9 -
317 (75)
*1 - -
Core operating profit of existing businesses Operating profit - Other income and expenses as non-recurring income and expenses - Profit / loss from new businesses
*2 2022
Foreign currency amounts in FY 3/2022 on constant currency basis are converted into yen at the exchange rate for the same period in FY 3/2021.
*3 2022 3 5 10%
Plan of consolidated financial results for the FY 3/2022 are disclosed with certain range, in order to actively invest in new business within 5 ~ 10% of core operating profit of existing businesses.
1
2022 3 / FY 3/2022 Plan by Segment
1 / Plan of Revenue by Segment (Yearly) / Mil. Yen
FY 3/2021 (Excl. COVID19) (2)
FY 3/2021
FY 3/2022 vs FY 3/2022 / Plan (3)
/ Revenue *5
Excl. / Plan (3)
Results (1) COVID19 (2) Changes in Amount Changes in Ratio
NISSIN FOOD PRODUCTS 205,624 202,824 207,000 4,175 2.1%
MYOJO FOODS 37,551 36,191 37,500 1,308 3.6%
Domestic Instant Noodles 243,175 239,015 244,500 5,484 2.3%
Chilled, frozen foods and beverages
*1 77,696 75,861 77,000 1,138 1.5%
Confectionery
*1 41,091 40,529 65,000 24,470 60.4%
Domestic Non-Instant Noodles 118,788 116,391 142,000 25,608 22.0%
*2,3 3,342 4,696 2,500 (2,196) (46.8%)
Domestic others
Domestic 365,306 360,103 389,000 28,896 8.0%
The Americas 70,873 61,257 74,000 12,742 20.8%
*4 48,177 47,630 55,000 7,369 15.5%
China (Incl. H.K.)
*2 12,651 12,517 13,500 982 7.9%
Asia
EMEA
*2 9,098 8,123 8,500 376 4.6%
EMEA
Overseas 140,801 129,528 151,000 21,471 16.6%
Group total
506,107 489,632 540,000 50,367 10.3%
2. / Plan of Core Operating Profit and Core Operating Profit Margin by Segment (Yearly)
/ Upper: Core Operating Profit, Lower: Core Operating Profit Margin / Mil. Yen
FY 3/2021 (Excl. COVID19) (2)
FY 3/2021
FY 3/2022 vs FY 3/2022 / Plan (3)
/ Core operating profit
Excl. / Plan*5 (3)
Results (1) COVID19 (2) Changes in Amount Changes in Ratio
31,989 26,649 28,000 1,350 5.1%
NISSIN FOOD PRODUCTS 15.6% 13.1% 13.5% 0.4%
3,117 2,115 2,400 284 13.5%
MYOJO FOODS 8.3% 5.8% 6.4% 0.6%
35,107 28,764 30,400 1,635 5.7%
Domestic Instant Noodles 14.4% 12.0% 12.4% 0.4%
3,419 2,506 3,000 493 19.7%
*1
Chilled, frozen foods and beverages 4.4% 3.3% 3.9% 0.6%
2,562 2,313 3,100 786 34.0%
*1
Confectionery 6.2% 5.7% 4.8% (0.9%)
5,981 4,820 6,100 1,279 26.5%
Domestic Non-Instant Noodles 5.0% 4.1% 4.3% 0.2%
838 625 1,000 375 60.2%
Domestic others*2,3 25.1% 13.3% 40.0% 26.7%
41,927 34,210 37,500 3,289 9.6%
Domestic 11.5% 9.5% 9.6% 0.1%
4,045 2,225 3,900 1,674 75.3%
The Americas 5.7% 3.6% 5.3% 1.6%
5,540 5,002 5,500 497 9.9%
*4
China (Incl. H.K.) 11.5% 10.5% 10.0% (0.5%)
4,021 3,966 4,600 633 16.0%
*2,6
Asia 31.8% 31.7% 34.1% 2.4%
EMEA 1,847 1,469 1,500 30 2.1%
*2,6
EMEA 20.3% 18.1% 17.6% (0.4%)
15,456 12,663 15,500 2,836 22.4%
Overseas 11.0% 9.8% 10.3% 0.5%
57,383 46,874 53,000 6,125 13.1%
Domestic and overseas total 11.3% 9.6% 9.8% 0.2%
Other reconciliations
*7 (115) (115)
(6,000) (998) -
Group expenses
*7 (4,885) (4,885)
Core operating profit of existing businesses
*8 52,382 41,872 47,000 5,127 12.2%
(4,500) (2,720)
*1,7,9 (1,780) (1,780) -
New businesses (2,500) (720)
42,500 2,407 6.0%
50,601 40,092
44,500 4,407 11.0%
Core operating profit*9 7.9% (0.3%)
10.0% 8.2%
8.2% 0.1%
*1 2022 3
*2
*3
*4
*4
*5
*6 IFRS
*7
*8 - -
*9 2022 3 5 10%
*1 Change in Segment from FY 3/2022.
*2 These are included in "Others" in the "Segment Information" of Summary of Consolidated Financial Statements.
*3 "Domestic others" includes NISSIN FOODS HOLDINGS and NISSIN ASSET MANAGEMENT, etc.
*4 The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*4 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.).
*5 Yen-based presentation of earnings forecasts are based on actual exchange rates for the previous fiscal year
*6 Gain and loss on investments accounted for using the equity method is included in IFRS.
*7 These are included in "Reconciliations" in the "Segment Information" of Summary of Consolidated Financial Statements.
*8 Core operating profit of existing businesses Operating profit - Other income and expenses as non-recurring income and expenses - Profit / loss from new businesses
*9 Forecasts of consolidated financial results for the FY 3/2022 are disclosed with certain range, in order to actively invest in new business within 5 ~ 10% of core operating profit of existing businesses.
2
2022 3 / FY 3/2022 Results by Segment
1 / Revenue by Segment (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2021 (COVID19 / Excl. COVID19) (2)
FY 3/2021 (1) FY 3/2022 (3)
(COVID19 Excl. COVID19) (2) vs FY 3/2022 / Change in Ratio (3)
Revenue
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD PRODUCTS 48,063 48,969 57,884 50,706 205,624 45,663 48,969 57,884 50,306 202,824 46,577 51,948 98,526 2.0% 6.1% 4.1%
MYOJO FOODS 9,659 8,463 9,912 9,515 37,551 8,599 8,463 9,912 9,215 36,191 9,411 9,283 18,694 9.4% 9.7% 9.6%
Domestic Instant Noodles 57,722 57,433 67,796 60,222 243,175 54,263 57,433 67,796 59,522 239,015 55,988 61,231 117,220 3.2% 6.6% 4.9%
Chilled, frozen foods and 20,053 19,270 19,265 19,106 77,696 18,792 19,312 19,262 18,494 75,861 20,216 20,773 (40,989) - 40,989 7.6% 7.6% (312.8%) (100.0%) 7.6%
beverages*1
Confectionery*1
7,642 7,083 10,433 15,931 41,091 7,075 7,062 10,449 15,942 40,529 17,063 17,740 34,803 141.2% 151.2% 146.2%
Domestic Non-Instant Noodles 27,696 26,354 29,699 35,038 118,788 25,867 26,375 29,712 34,436 116,391 37,279 38,514 75,793 44.1% 46.0% 45.1%
Domestic others*2,3
792 871 745 933 3,342 1,217 1,256 1,031 1,190 4,696 498 564 1,062 (59.1%) (55.1%) (57.0%)
Domestic 86,211 84,659 98,241 96,193 365,306 81,348 85,065 98,540 95,150 360,103 93,766 100,310 (40,989) - 194,076 15.3% 17.9% (141.6%) (100.0%) 16.6%
The Americas 17,743 17,772 17,767 17,589 70,873 13,785 15,219 16,057 16,194 61,257 20,221 22,196 42,418 46.7% 45.8% 46.2%
11,512 12,769 11,050 12,845 48,177 11,184 12,550 11,050 12,845 47,630 12,247 13,633 25,880 9.5% 8.6% 9.0%
China (Incl. H.K.)*4
2,954 3,290 3,227 3,178 12,651 2,806 3,335 3,196 3,178 12,517 3,391 3,879 7,270 20.9% 16.3% 18.4%
Asia*2
EMEA
2,138 2,079 2,439 2,440 9,098 1,779 2,024 2,332 1,985 8,123 2,830 2,560 5,391 59.1% 26.4% 41.7%
EMEA*2
Overseas 34,349 35,911 34,486 36,054 140,801 29,555 33,130 32,637 34,204 129,528 38,691 42,269 - - 80,960 30.9% 27.6% (100.0%) (100.0%) 29.2%
Group total 120,561 120,570 132,727 132,248 506,107 110,904 118,195 131,177 129,354 489,632 132,457 142,579 (40,989) - 275,037 19.4% 20.6% (131.2%) (100.0%) 20.1%
2. / Core Operating Profit by Segment (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2021 (COVID19 / Excl. COVID19) (2)
FY 3/2021 (1) FY 3/2022 (3)
(COVID19 Excl. COVID19) (2) vs FY 3/2022 / Change in Ratio (3)
Core Operating Profit
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD PRODUCTS 8,700 7,927 10,002 5,359 31,989 5,004 7,134 9,719 4,791 26,649 6,982 8,392 ####### ####### 15,375 39.5% 17.6% 26.7%
MYOJO FOODS 1,584 732 708 92 3,117 899 582 708 (74) 2,115 996 705 ####### ####### 1,701 10.8% 21.2% 14.9%
Domestic Instant Noodles 10,285 8,659 10,710 5,452 35,107 5,903 7,716 10,427 4,717 28,764 7,979 9,097 ####### ####### 17,076 35.2% 17.9% 25.4%
Chilled, frozen foods and 1,600 1,164 621 33 3,419 1,024 1,062 558 (138) 2,506 1,230 1,260 (2,490) - 2,490 20.1% 18.7% - - 19.4%
beverages*1
Confectionery*1
970 720 1,014 (143) 2,562 790 682 1,000 (160) 2,313 1,015 1,157 ####### ####### 2,173 28.5% 69.6% 47.5%
Domestic Non-Instant Noodles 2,570 1,884 1,636 (109) 5,981 1,814 1,745 1,559 (298) 4,820 2,245 2,418 ####### ####### 4,664 23.8% 38.6% 31.0%
Domestic others*2,3
176 596 (96) 161 838 254 571 (197) (2) 625 548 698 ####### ####### 1,246 115.5% 22.3% 51.0%
Domestic 13,032 11,140 12,249 5,504 41,927 7,972 10,032 11,789 4,415 34,210 10,773 12,214 (2,490) - 22,987 35.1% 21.7% - - 27.7%
The Americas 1,906 1,480 577 81 4,045 1,026 1,022 291 (114) 2,225 1,174 974 ####### ####### 2,149 14.4% (4.7%) 4.9%
China (Incl. H.K.)*4
1,536 1,516 856 1,631 5,540 1,391 1,220 758 1,631 5,002 1,107 1,312 ####### ####### 2,420 (20.4%) 7.6% (7.3%)
1,217 1,246 850 707 4,021 1,143 1,259 856 707 3,966 1,005 1,187 ####### ####### 2,192 (12.1%) (5.7%) (8.8%)
Asia*2,5
EMEA
740 554 628 (76) 1,847 596 532 585 (244) 1,469 553 (450) ####### ####### 103 (7.2%) - (90.9%)
EMEA*2,5
Overseas 5,400 4,797 2,912 2,345 15,456 4,157 4,034 2,491 1,980 12,663 3,840 3,024 - - 6,864 (7.6%) (25.0%) (100.0%) (100.0%) (16.2%)
Other reconciliations*6
(32) (50) 4 (37) (115) (32) (50) 4 (37) (115) (27) (28) ####### ####### (55) - - -
Group expenses*6
(1,221) (1,221) (1,221) (1,221) (4,885) (1,221) (1,221) (1,221) (1,221) (4,885) (1,338) (1,338) ####### ####### (2,676) - - -
Core operating profit of existing 17,179 14,666 13,945 6,590 52,382 10,876 12,795 13,063 5,137 41,872 13,248 13,872 (2,490) - 27,120 21.8% 8.4% - (100.0%) 14.6%
businesses*7
New businesses*1,6
(108) (157) (487) (1,027) (1,780) (108) (157) (487) (1,027) (1,780) (261) (419) ####### ####### (680) - - -
Core operating profit
17,071 14,508 13,457 5,563 50,601 10,768 12,637 12,575 4,110 40,092 12,987 13,452 (2,490) - 26,440 20.6% 6.5% (34.1%) (100.0%) 13.0%
*1 2022 3
*2
*3
*4
*3
*5 IFRS
*6
*7 - -
*1 Change in Segment from FY 3/2022.
*2 These are included in "Others" in the "Segment Information" of Summary of Consolidated Financial Statements.
*3 "Domestic others" includes NISSIN FOODS HOLDINGS and NISSIN ASSET MANAGEMENT, etc.
*4 The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*4 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.).
*5 Gain and loss on investments accounted for using the equity method is included in IFRS.
*6 These are included in "Reconciliations" in Summary of Consolidated Financial Statements.
*7 Core operating profit of existing businesses Operating profit - Other income and expenses as non-recurring income and expenses - Profit / loss from new businesses
3
2022 3 / Calculated on a constant currency basis for the overseas business in the quarterly results for the FY 3/2022 in this page.
3. / Revenue by Segment on Constant Currency Basis (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2022 FY 3/2021 (COVID19 / Excl. COVID19) (2)
FY 3/2021 (1)
(COVID19 Excl. COVID19) (2) Constant Currency Basis*5 (3) vs FY 3/2022 / Change in Ratio (3)
Revenue
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD PRODUCTS 48,063 48,969 57,884 50,706 205,624 45,663 48,969 57,884 50,306 202,824 46,577 51,948 98,526 2.0% 6.1% 4.1%
MYOJO FOODS 9,659 8,463 9,912 9,515 37,551 8,599 8,463 9,912 9,215 36,191 9,411 9,283 18,694 9.4% 9.7% 9.6%
Domestic Instant Noodles 57,722 57,433 67,796 60,222 243,175 54,263 57,433 67,796 59,522 239,015 55,988 61,231 117,220 3.2% 6.6% 4.9%
Chilled, frozen foods and 20,053 19,270 19,265 19,106 77,696 18,792 19,312 19,262 18,494 75,861 20,216 20,773 (40,989) - 40,989 7.6% 7.6% (312.8%) (100.0%) 7.6%
beverages*1
Confectionery*1
7,642 7,083 10,433 15,931 41,091 7,075 7,062 10,449 15,942 40,529 17,063 17,740 34,803 141.2% 151.2% 146.2%
Domestic Non-Instant Noodles 27,696 26,354 29,699 35,038 118,788 25,867 26,375 29,712 34,436 116,391 37,279 38,514 75,793 44.1% 46.0% 45.1%
Domestic others*2,3
792 871 745 933 3,342 1,217 1,256 1,031 1,190 4,696 498 564 1,062 (59.1%) (55.1%) (57.0%)
Domestic 86,211 84,659 98,241 96,193 365,306 81,348 85,065 98,540 95,150 360,103 93,766 100,310 (40,989) - 194,076 15.3% 17.9% (312.8%) (100.0%) 16.6%
The Americas 17,743 17,772 17,767 17,589 70,873 13,785 15,219 16,057 16,194 61,257 19,489 21,007 40,497 41.4% 38.0% 39.6%
China (Incl. H.K.)*4
11,512 12,769 11,050 12,845 48,177 11,184 12,550 11,050 12,845 47,630 11,366 12,583 23,950 1.6% 0.3% 0.9%
2,954 3,290 3,227 3,178 12,651 2,806 3,335 3,196 3,178 12,517 3,239 3,752 6,992 15.5% 12.5% 13.8%
Asia*2
EMEA
2,138 2,079 2,439 2,440 9,098 1,779 2,024 2,332 1,985 8,123 2,541 2,453 4,995 42.8% 21.2% 31.3%
EMEA*2
Overseas 34,349 35,911 34,486 36,054 140,801 29,555 33,130 32,637 34,204 129,528 36,638 39,798 - - 76,436 24.0% 20.1% (100.0%) (100.0%) 21.9%
Group total 120,561 120,570 132,727 132,248 506,107 110,904 118,195 131,177 129,354 489,632 130,404 140,108 (40,989) - 270,512 17.6% 18.5% (131.2%) (100.0%) 18.1%
4. / Core Operating Profit by Segment on Constant Currency Basis (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2022 FY 3/2021 (COVID19 / Excl. COVID19) (2)
FY 3/2021 (1)
(COVID19 Excl. COVID19) (2) Constant Currency Basis*5 (3) vs FY 3/2022 / Change in Ratio (3)
Core Operating Profit
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
NISSIN FOOD PRODUCTS 8,700 7,927 10,002 5,359 31,989 5,004 7,134 9,719 4,791 26,649 6,982 8,392 ####### ####### 15,375 39.5% 17.6% 26.7%
MYOJO FOODS 1,584 732 708 92 3,117 899 582 708 (74) 2,115 996 705 ####### ####### 1,701 10.8% 21.2% 14.9%
Domestic Instant Noodles 10,285 8,659 10,710 5,452 35,107 5,903 7,716 10,427 4,717 28,764 7,979 9,097 ####### ####### 17,076 35.2% 17.9% 25.4%
Chilled, frozen foods and 1,600 1,164 621 33 3,419 1,024 1,062 558 (138) 2,506 1,230 1,260 (2,490) - 2,490 20.1% 18.7% - - 19.4%
beverages*1
Confectionery*1
970 720 1,014 (143) 2,562 790 682 1,000 (160) 2,313 1,015 1,157 ####### ####### 2,173 28.5% 69.6% 47.5%
Domestic Non-Instant Noodles 2,570 1,884 1,636 (109) 5,981 1,814 1,745 1,559 (298) 4,820 2,245 2,418 ####### ####### 4,664 23.8% 38.6% 31.0%
Domestic others*2,3
176 596 (96) 161 838 254 571 (197) (2) 625 548 698 ####### ####### 1,246 115.5% 22.3% 51.0%
Domestic 13,032 11,140 12,249 5,504 41,927 7,972 10,032 11,789 4,415 34,210 10,773 12,214 (2,490) - 22,987 35.1% 21.7% - (100.0%) 27.7%
The Americas 1,906 1,480 577 81 4,045 1,026 1,022 291 (114) 2,225 1,123 891 ####### ####### 2,014 9.4% (12.8%) (1.6%)
China (Incl. H.K.)*4
1,536 1,516 856 1,631 5,540 1,391 1,220 758 1,631 5,002 1,020 1,190 ####### ####### 2,210 (26.7%) (2.5%) (15.4%)
1,217 1,246 850 707 4,021 1,143 1,259 856 707 3,966 988 1,153 ####### ####### 2,142 (13.5%) (8.4%) (10.9%)
Asia*2,6
EMEA
740 554 628 (76) 1,847 596 532 585 (244) 1,469 567 (486) ####### ####### 80 (4.8%) - (92.8%)
EMEA*2,6
Overseas 5,400 4,797 2,912 2,345 15,456 4,157 4,034 2,491 1,980 12,663 3,699 2,748 - - 6,448 (11.0%) (31.9%) (100.0%) (100.0%) (21.3%)
Other reconciliations*7
(32) (50) 4 (37) (115) (32) (50) 4 (37) (115) (27) (28) ####### ####### (55) - - -
Group expenses*7
(1,221) (1,221) (1,221) (1,221) (4,885) (1,221) (1,221) (1,221) (1,221) (4,885) (1,338) (1,338) ####### ####### (2,676) - - -
Core operating profit of existing 17,179 14,666 13,945 6,590 52,382 10,876 12,795 13,063 5,137 41,872 13,107 13,596 (2,490) - 26,704 20.5% 6.3% - (100.0%) 12.8%
businesses*8
New businesses*1,7
(108) (157) (487) (1,027) (1,780) (108) (157) (487) (1,027) (1,780) (261) (419) ####### ####### (680) - - -
Core operating profit
17,071 14,508 13,457 5,563 50,601 10,768 12,637 12,575 4,110 40,092 12,846 13,177 (2,490) - 26,023 19.3% 4.3% (35.1%) (100.0%) 11.2%
*1 2022 3
*2
*3
*4
*3
*5 2021 2020 FY3/2022 2Q FY3/2021 2Q
*6 IFRS
*7
*8 - -
*1 Change in Segment from FY 3/2022.
*2 These are included in "Others" in the "Segment Information" of Summary of Consolidated Financial Statements.
*3 "Domestic others" includes NISSIN FOODS HOLDINGS and NISSIN ASSET MANAGEMENT, etc.
*4 The business plan for China segment specifies targets set solely by NISSIN FOODS HOLDINGS.
*4 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.).
*5: Constant currency basis: Foreign currency amounts in FY 3/2022 are converted into yen at the exchange rate for the same period in FY 3/2021 (e.g., constant currency for FY 3/2022 2Q is FY 3/2021 2Q foreign exchange rate)
*6 Gain and loss on investments accounted for using the equity method is included in IFRS.
*7 These are included in "Reconciliations" in Summary of Consolidated Financial Statements.
*8 Core operating profit of existing businesses Operating profit - Other income and expenses as non-recurring income and expenses - Profit / loss from new businesses
4
/ Consolidated Statements of Income
/ Mil. Yen
FY 3/2021 FY 3/2022
2Q 2Q / YoY
/ Results / Results
Ratio to Ratio to Changes in Changes in
Amount Amount
Revenue Revenue Amount Ratio
Revenue 241,131 100.0% 275,037 100.0% 33,905 14.1%
Cost of sales 152,135 63.1% 179,107 65.1% 26,972 17.7%
Gross profit
88,996 36.9% 95,929 34.9% 6,933 7.8%
Promotional expenses 5,136 2.1% 6,104 2.2% 967 18.8%
Advertising expenses 5,944 2.5% 7,405 2.7% 1,461 24.6%
Distribution expenses 19,432 8.1% 23,648 8.6% 4,215 21.7%
General and administrative expenses 29,902 12.4% 34,024 12.4% 4,121 13.8%
Total selling, general and administrative 60,415 25.1% 71,182 25.9% 10,766 17.8%
expenses
Gain on investments accounted for 2,999 1.2% 1,692 0.6% (1,306) (43.6%)
using the equity method
Other income 1,091 0.5% 912 0.3% (179) (16.4%)
Other expenses 831 0.3% 516 0.2% (314) (37.8%)
Operating profit 31,840 13.2% 26,836 9.8% (5,004) (15.7%)
Finance income 1,025 0.4% 1,299 0.5% 273 26.7%
Finance costs 718 0.3% 267 0.1% (451) (62.8%)
Profit before tax 32,148 13.3% 27,868 10.1% (4,279) (13.3%)
Income tax expense 8,745 3.6% 9,328 3.4% 582 6.7%
Profit 23,402 9.7% 18,539 6.7% (4,862) (20.8%)
Profit attributable to non-controlling 1,428 0.6% 1,417 0.5% (11) (0.8%)
interests
Profit attributable to owners of the parent 21,973 9.1% 17,122 6.2% (4,851) (22.1%)
Comprehensive income 39,478 16.4% 21,605 7.9% (17,873) (45.3%)
5
/ Main Items of Other Income and Expenses
/ Mil. Yen
FY 3/2021 FY 3/2022
2Q 2Q Changes in *1
Main Items of Other Income and Expenses
/ Results / Results Amount
NISSIN FOOD PRODUCTS (80) 44 125
MYOJO FOODS 45 12 (32)
Chilled, frozen foods and beverages *2 322 188 (133)
Confectionery*2 13 62 48
Domestic others (56) 14 71
Domestic 244 323 79
The Americas 15 28 13
China (incl. H.K.) 34 (73) (107)
Asia 41 3 (38)
EMEA
EMEA (48) 76 125
Overseas 42 34 (7)
Other reconciliations (25) (69) (43)
Existing businesses total 260 288 27
New businesses*2 - 107 107
Group total 260 396 135
*1
*2 2022 3
*1 "()" presents loss in "Main Items of Other Income and Expenses".
*2 Change in Segment from FY 3/2022.
6
/ Exchange Rates
1 / Exchange Rates (Yearly)
/ Yen
/ Each rate is an average rate calculated based on daily rates for the period.
FY 3/2022
/ Country FY 3/2016 FY 3/2017 FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021
Currency Plan*1
/ Consolidated Subsidiaries
the U.S.
USD 120.14 108.38 110.85 110.91 108.74 106.06 106.06
The MXN 7.26 5.64 5.99 5.74 5.61 4.93 4.93
Mexico
Americas
Brazil
BRL 30.60 32.93 34.47 29.34 26.52 19.62 19.62
Hong Kong
HKD 15.49 13.97 14.20 14.14 13.91 13.68 13.68
China
China
CNY 18.85 16.11 16.75 16.54 15.60 15.67 15.67
Singapore
SGD 88.10 78.75 81.74 81.69 79.28 77.65 77.65
India
INR 1.90 1.63 1.73 1.60 1.55 1.44 1.44
Asia Thailand
THB 3.54 3.09 3.31 3.43 3.52 3.42 3.42
Vietnam
VND 0.00553 0.00487 0.00488 0.00479 0.00468 0.00457 0.00457
Indonesia
IDR 0.00820 0.00840 0.00780 0.00770 0.00740 0.00740
EMEA Europe
EUR 134.31 120.33 129.70 128.41 120.82 123.70 123.70
/ Associates Accounted for using the Equity Method
Asia Philippines
PHP 2.68 2.31 2.25 2.11 2.12 2.17 2.17
EMEA Russia
RUB 2.00 1.63 1.93 1.77 1.69 1.49 1.49
*1 2022 3
Yen-based plan is based on actual exchange rates for the previous fiscal year
2 / Exchange Rates (Quarterly)
/ Yen
FY 3/2016 FY 3/2017 FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021 FY 3/2022
/ Country
Currency 2Q 2Q 2Q 2Q 2Q 2Q 2Q
/ Consolidated Subsidiaries
the U.S.
USD 121.80 105.29 111.06 110.26 108.63 106.92 109.80
The MXN 7.69 5.73 6.11 5.76 5.64 4.72 5.49
Mexico
Americas
Brazil
BRL 37.10 31.18 34.83 29.24 27.56 19.87 20.89
Hong Kong
HKD 15.71 13.57 14.24 14.05 13.86 13.80 14.13
China
China
CNY 19.44 15.94 16.42 16.75 15.68 15.26 16.99
Singapore
SGD 89.08 80.89 80.69 81.64 79.34 76.74 81.80
India
INR 1.93 1.59 1.74 1.62 1.57 1.43 1.50
Asia Thailand
THB 3.65 3.15 3.24 3.43 3.49 3.38 3.42
Vietnam
VND 0.00558 0.00500 0.00489 0.00479 0.00467 0.00459 0.00478
Indonesia
IDR 0.00840 0.00850 0.00790 0.00770 0.00730 0.00770
EMEA Europe
EUR 134.17 124.62 126.29 129.85 121.42 121.30 130.90
/ Associates Accounted for using the Equity Method
Asia Philippines
PHP 2.72 2.40 2.27 2.11 2.13 2.16 2.25
EMEA Russia
RUB 2.10 1.60 1.94 1.84 1.69 1.57 1.45
* 2022 3
Foreign currency amounts in FY 3/2022 on constant currency basis are converted into yen at the exchange rate for the same period in FY
3/2021.
7
/Factors of Changes in Core Operating Profit of Existing Businesses
Changes in Core Operating Profit of Existing Businesses for the FY 3/2022 on Constant Currency Basis (Quarterly)
/ Mil. Yen
FY 3/2022
/ Constant Currency Basis*1 1Q 2Q 3Q 4Q Total
/ Plan*6
/ Domestic 13,032 11,140 24,173 41,927
FY 3/2021 / Overseas 5,400 4,797 10,198 15,456
Core operating profit for existing businesses / Reconciliations
*2
(1,253) (1,271) (2,525) (5,000)
/ Total 17,179 14,666 31,846 52,382
/ Marginal profit*3
/ Domestic (1,503) 1,112 (391) (1,518)
/ Overseas 1,679 2,506 4,185 2,335
Revenue / Reconciliations
*2
66 528 595 0
/ Total 242 4,146 4,389 816
/ Domestic 232 (189) 43 121
/ Overseas (2,235) (2,360) (4,596) (82)
Cost of goods sold ratio*4 / Reconciliations
*2
365 237 602 0
/ Total (1,637) (2,312) (3,950) 39
/ Domestic (16) (22) (38) (474)
/ Overseas (490) (343) (833) (141)
Distribution cost ratio / Reconciliations*2 (48) (225) (273) 0
/ Total (555) (590) (1,145) (615)
/ Fixed expenses
/ Domestic (294) (309) (604) (818)
/ Overseas (115) (235) (351) 36
*4
Depreciation and amortization / Reconciliations*2 (1) 1 0 40
/ Total (410) (544) (955) (742)
/ Domestic (1,187) 515 (672) 391
/ Overseas (44) (18) (62) (1,004)
Advertising expenses / Reconciliations*2 - - - 0
/ Total (1,231) 496 (734) (613)
/ Domestic 300 (379) (79) (2,666)
/ Overseas (215) (654) (869) (1,169)
General and administrative expenses *4 / Reconciliations*2 (494) (635) (1,130) (1,040)
/ Total (410) (1,669) (2,079) (4,876)
/ Others
/ Domestic (22) (117) (140) (362)
/ Overseas (279) (942) (1,221) 70
Gain (loss) on investments accounted for
using the equity method / Reconciliations*2 - - - -
/ Total (301) (1,059) (1,361) (291)
/ Domestic 232 464 697 900
Business combination*5 / Total 232 464 697 900
/ Domestic (2,258) 1,073 (1,185) (4,427)
/ Overseas (1,700) (2,048) (3,749) 43
Changes in core operating profit for existing
businesses / Reconciliations
*2
(111) (94) (206) (1,000)
/ Total (4,071) (1,069) (5,141) (5,382)
FY 3/2022
/ Domestic 10,773 12,214 22,987 37,500
/ Overseas 3,699 2,748 6,448 15,500
Core operating profit for existing businesses / Reconciliations
*2
(1,365) (1,366) (2,731) (6,000)
(Constant currency basis)
/ Total 13,107 13,596 26,704 47,000
/ Overseas 140 275 416 -
Impact of exchange rate / Total 140 275 416 -
/ Domestic 10,773 12,214 22,987 37,500
FY 3/2022 / Overseas 3,840 3,024 6,864 15,500
Core operating profit for existing businesses / Reconciliations*2 (1,365) (1,366) (2,731) (6,000)
/ Total 13,248 13,872 27,120 47,000
*1 2022 3 FY3/2022 2Q FY3/2021 2Q
*2 ( )
*3
( × )
*4
*5
*6
*1 Constant currency basis: Foreign currency amounts in FY 3/2022 are converted into yen at the exchange rate for the same period in FY 3/2021 (e.g., constant currency for FY 3/2022 2Q is FY
3/2021 2Q foreign exchange rate)
*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 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
*4 The amount of cost of goods sold ratio, depreciation and amortization, and general and administrative expenses of plan for the FY 3/2022
has been partially changed since the current 2nd quarter.
*5 Business combination = Actual core operating income of newly consolidated companies for the current fiscal year
*6 Foreign exchange rates applied for FY 3/2022 plan are based on actual exchange rates for the FY 3/2021
8
/ Consolidated Statements of Financial Position (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2022
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 90,294 82,492 86,159 (4,134)
Trade and other receivables 84,837 76,286 83,738 (1,099)
Inventories 40,901 44,193 43,723 2,822
Income taxes receivable 1,629 1,908 791 (837)
Other financial assets 6,890 7,962 8,409 1,519
Other current assets 4,563 13,660 10,530 5,967
Total current assets 229,117 226,504 233,353 4,236
Property, plant and equipment 257,135 258,662 256,618 (517)
Goodwill and intangible assets 12,476 12,545 12,246 (230)
Investment property 7,369 7,362 7,344 (24)
Investments accounted for using the equity method 42,333 42,946 42,622 289
Other financial assets 100,990 85,473 88,504 (12,485)
Deferred tax assets 12,174 12,528 12,484 310
Other non-current assets
1,933 1,870 1,795 (137)
Total non-current assets 434,413 421,390 421,618 (12,795)
Total assets 663,530 647,894 654,971 (8,559)
Liabilities
Trade and other payables 119,275 112,877 110,398 (8,876)
Borrowings 9,647 9,669 12,930 3,282
Provisions 204 100 - (204)
Accrued income taxes 8,050 7,729 10,897 2,846
Other financial liabilities 3,855 3,889 3,100 (755)
Other current liabilities 19,617 17,896 18,532 (1,085)
Total current liabilities 160,650 152,163 155,859 (4,791)
Borrowings 38,283 38,415 34,832 (3,450)
Other financial liabilities 18,601 18,750 18,567 (34)
Defined benefit liabilities 5,151 5,171 5,176 24
Provisions 203 217 125 (77)
Deferred tax liabilities 16,722 14,887 15,721 (1,001)
Other non-current liabilities 2,481 2,472 2,430 (51)
Total non-current liabilities 81,444 79,914 76,854 (4,590)
Total liabilities 242,095 232,077 232,713 (9,382)
Equity
Share capital 25,122 25,122 25,122 -
Capital surplus 50,636 50,389 50,271 (365)
Treasury shares (6,658) (11,833) (15,682) (9,024) Impact of acquisition of treasury shares etc.
Other components of equity 34,217 33,479 34,128 (89)
Retained earnings 280,697 284,768 294,013 13,315
Total equity attributable to owners of the parent 384,016 381,926 387,853 3,837
Non-controlling interests 37,419 33,890 34,404 (3,014)
Total equity 421,435 415,817 422,258 822
Total liabilities and equity 663,530 647,894 654,971 (8,559)
9
/ Consolidated Statements of Income and Consolidated Cash Flows
1 / Consolidated Statements of Income (Quarterly)
/ Mil. Yen
FY 3/2021
FY 3/2021 FY 3/2022
(COVID19 / Excl. COVID19)
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Revenue
120,561 120,570 132,727 132,248 506,107 110,904 118,195 131,177 129,354 489,632 132,457 142,579 275,037
Gross profit
45,242 43,753 47,996 44,763 181,756 - - - - - 46,731 49,197 95,929
Core operating profit of existing businesses
17,179 14,666 13,945 6,590 52,382 10,876 12,795 13,063 5,137 41,872 13,248 13,872 27,120
Operating profit
17,452 14,388 18,125 5,565 55,532 11,113 12,553 17,244 4,111 45,022 13,248 13,587 26,836
Profit before tax
17,979 14,168 18,531 5,553 56,233 - - - - - 14,003 13,864 27,868
Profit
12,818 10,584 14,812 5,124 43,340 - - - - - 8,565 9,974 18,539
Profit attributable to owners of the parent
12,095 9,878 14,307 4,547 40,828 - - - - - 7,894 9,228 17,122
2 / Consolidated Statements of Income on Constant Currency Basis (Quarterly)
/ Mil. Yen
FY 3/2021
FY 3/2021 FY 3/2022
(COVID19 / Excl. COVID19)
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Revenue (Constant Foreign Exchange Rate Base)
120,561 120,570 132,727 132,248 506,107 110,904 118,195 131,177 129,354 489,632 130,404 140,108 270,512
Core operating profit of existing businesses 17,179 14,666 13,945 6,590 52,382 10,876 12,795 13,063 5,137 41,872 13,107 13,596 26,704
(Constant Foreign Exchange Rate Base)
Operating profit (Constant Foreign Exchange Rate 17,452 14,388 18,125 5,565 55,532 11,113 12,553 17,244 4,111 45,022 13,115 13,310 26,425
Base)
3 / Consolidated Cash Flows (Quarterly)
/ Mil. Yen
FY 3/2021 FY 3/2022
1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4Q FY
Cash flows from operating activities
19,652 14,660 18,257 20,143 72,714 3,724 13,299 17,023
Cash flows from investing activities
(10,301) (13,843) (4,300) 1,916 (26,528) 4,205 (2,182) 2,022
Cash flows from financing activities
(8,400) (2,457) (5,741) (2,447) (19,046) (16,656) (7,573) (24,229)
Effect of exchange rate changes on cash and cash (525) 225 1,406 1,885 2,991 924 123 1,047
equivalents
Net increase (decrease) in cash and cash 425 (1,415) 9,622 21,498 30,130 (7,801) 3,667 (4,134)
equivalents
Cash and cash equivalents at beginning of quarters
60,163 60,588 59,173 68,796 60,163 90,294 82,492 90,294
Cash and cash equivalents at end of quarters
60,588 59,173 68,796 90,294 90,294 82,492 86,159 86,159
10
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), 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 1 / From FY 3/2021 1Q
CO.,LTD.
NISSIN FOODS ASIA CO., LTD. (Asia)
2021 3 2 / From FY 3/2021 2Q
Valley Farm Holdings Limited (China)
2021 3 3 / From FY 3/2021 3Q
KOIKE-YA Inc. (Confectionery)
2022 3 / From FY 3/2022 1Q
Ming Fong Packaging & Chemicals Limited (China)
11
/ Mid- to Long-Term Growth Strategy Digest
1 CSV / NISSIN FOODS Group Creating Shared Value (CSV) Management
EARTH FOOD CREATOR
To achieve sustainable growth while solving environmental and social issues as an “EARTH FOOD CREATOR”, constantly creating new food cultures through
innovation.
Mission Enduring Values: Peace will come to the world when there is enough food, Create foods to serve society, Eat wisely for beauty and health, Food
related jobs are a sacred profession
Vision EARTH FOOD CREATOR
4 / Four Attributes
Value
Creative, Unique, Happy, Global
2 / Mid- to Long-Term Growth Strategy
CSV 3
NISSIN FOODS Group will engage in three mid- to long-term growth strategies, pursuing the Group’s vision and sustainable growth based on CSV management.
#
Growth Strategy Overview
1 Strengthen Cash Generation Capabilities of Make a significant shift in profit portfolio through aggressive growth in Overseas and Non-Instant Noodles Businesses, while
Existing Businesses pursuing sustainable growth
2 EARTH FOOD CHALLENGE 2030 A challenge to utilize finite resources effectively and reduce the impact of climate change
Lengthen the life cycles of existing businesses
3 Co-create foods of the future with food science
Pursue New Businesses
Become a company that provides food and health solutions through technology
10 / Growth Targets Over the Next 10 Years: Profit Structure and Profit Growth Levels
Business Overseas Domestic Non-Instant Noodles Business Domestic Instant Noodles Business
30% 45% 10% 15% 60% 40%
Target Structure Current 30% 45% Current 10% 15% Current 60% 40%
1 2 1
Growth Targets High-single Digit to Double Digit High-single Digit Outpace Market Growth
2
100
The Leading Company in the High-Value-Added Build a Second Profit Pillar Next to the Instant
Strategic Goal A Century Brand Company
Market Noodles Business
Global Branding
Deepen CUP NOODLES branding to further solidify Deepen efforts to develop demand, penetrate
Future Strategic Leverage growth and profitability improvement in
competitive advantage, and roll out operational brands, develop markets, and strengthen supply
Direction each business, focusing on added value by
strategies according to markets, competitive capabilities to continue to grow over the medium to
pursuing Group synergies on both the supply and
environment, and the Group’s own competitive long term, steadily increasing sales and profits,
demand sides
abilities even in mature markets
3 / Quantitative Targets
4 CSV
NISSIN FOODS Group is committed to achieving four mid- to long-term economic value (financial) targets through CSV management: (1) Sustainable profit growth, (2)
Efficient use of capital, (3) Safe use of debt, and (4) Stable shareholder returns. The group will pursue these targets while also pursuing targets related to social value
and environmental value (non-financial).
Value Classification Management Indicator Mid- to Long-Term Target
*1
1
Growth potential Core operating profit growth rate*1 for existing businesses (constant currency Mid-single digit
10%
ROE
Efficiencies 10% over the long term
EBITDA 2
Financial Safety Net debt / EBITDA ratio 2x
Dividend policy Progressive dividends
Stable shareholder returns
TSR TOPIX 1
Relative TSR vs. TOPIX (Foods) >1x
*3
100%
Sustainable Palm Oil Procurement Ratio*3
IFRS 100
12.3
Effective use of finite resources Water Usage Per million yen of revenue (IFRS basis)
16 3
(50%)
Non-Financial*2 Total Waste Reduction Compared to FY 3/2016/Japan
CO2 Scope 1+2 19 3
(30%)
Reduction of CO2 Emissions (Scope1+2) Compared to FY 3/2019
Reduce climate change impact
CO2 Scope 3 19 3
(15%)
Reduction of CO2 Emissions (Scope 3) Compared to FY 3/2019
*1 IFRS Non-GAAP
*2 2031 3
*3
*1 A non-GAAP key performance indicator calculated by deducting other income and expenses (defined as income/expenses from new businesses targeted by aggressive up-front investment and non-recurring
income/expenses) from IFRS operating profit
*2 Non-financial targets reflect FY3/2031 figures
*3 Based on external certifications and independent assessments
12
/ Summary of Selected Data (Yearly)
/ Mil. Yen
FY 3/2018 FY 3/2019 FY 3/2020 FY 3/2021 FY 3/2022
/ Results / Results / Results / Results / Plan
Domestic revenue
323,115 327,945 341,194 365,288 389,000
Overseas revenue
117,794 123,038 127,684 140,801 151,000
Revenue
440,909 450,984 468,879 506,107 540,000
Growth rate (%)
- 2.3 4.0 7.9 6.7
Portion of overseas revenue (%)
26.7 27.3 27.2 27.8 28.0
Overseas OP ratio (%)
17.9 2.8 26.6 27.4 -
Cost of sales
282,837 295,823 301,599 324,350 -
Cost of sales ratio (%)
64.1 65.6 64.3 64.1 -
Advertising expenses ratio (%)
3.3 3.2 3.0 3.2 -
Distribution expenses ratio (%)
7.6 8.0 7.9 8.3 -
Promotional expenses ratio (%)
2.7 2.7 2.7 2.3 -
Core operating profit of existing businesses *1
- - - 52,382 47,000
Core operating profit ratio of existing businesses - - - 10.4 8.7
(%)
Core operating profit growth rate for existing - - - - 12.2
businesses (constant currency) (%)
42,500
Operating profit*2
35,175 28,967 41,252 55,532
44,500
7.9
Operating profit ratio (%)*2
8.0 6.4 8.8 11.0
8.2
31,000
Profit attributable to owners of the parent *2
29,134 19,356 29,316 40,828
33,000
Comprehensive income
37,178 8,409 13,355 70,687 -
Total equity
353,128 352,545 35