Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q3 FY2022 Earnings Presentation

20 slides from Meiji's earnings presentation, Feb 9, 2023

  1. Slide 1: Financial Results for the Q1-Q3 of FYE March 2023 (FY2022)

    Financial Results for the Q1-Q3 of FYE March 2023 (FY2022) (From April 1, 2022 to December 31, 2022) February 9, 2023 0 © Meiji Holdings Co., Ltd. All rights reserved.

  2. Slide 2: Summary for Q1-Q3 FY2022 Consolidated Results

    Summary for Q1-Q3 FY2022 Consolidated Results (JPY bn) FY2021 FY2022 FY2022 Q1-Q3 Q1-Q3 vs. FY2022 Plan YoY Change Results Results Plan (Rev. Feb 9) +3.7% Net sales 769.9 798.0 +28.1 75.4% 1,058.0 -18.1% Operating profit 79.0 64.7 -14.2 83.5% 77.5 Op. profit margin 10.3% 8.1% -2.1 pt ― 7.3% Profit a

  3. Slide 3: Food: Summary – Q1-Q3 FY2022

    Food: Summary – Q1-Q3 FY2022 (JPY bn) FY2021 FY2022 FY2022 Q1-Q3 Q1-Q3 vs. FY2022 Plan YoY Change Results Results Plan (Rev. Feb 9) +3.8% Net sales 626.3 649.9 +23.6 75.5% 861.2 -26.9% Operating profit 61.7 45.1 -16.5 75.2% 60.0 Analysis of changes in operating profit Q1-Q3 Results - FY2021 61.7 : D

  4. Slide 4: Food: Summary – Q1-Q3 FY2022 (Yogurt and Cheese)

    Food: Summary – Q1-Q3 FY2022  Yogurt and Cheese Business (JPY bn) FY2022 Sales vs. FY2021 Q1 Q2 Q3 Q1-Q3 Results YoY Change Functional yogurt -9.8% -7.8% +3.1% -4.9% Net sales 151.5 -7.8 Yogurt -6.1% -5.9% -8.9% -36.4% Cheese -9.5% -8.0% +0.2% Operating profit 16.9 -9.6 Price hike  Market Size ・Fu

  5. Slide 5: Pharmaceutical: Summary – Q1-Q3 FY2022

    Pharmaceutical: Summary – Q1-Q3 FY2022 (JPY bn) FY2021 FY2022 FY2022 Q1-Q3 Q1-Q3 vs. FY2022 Plan YoY Change Results Results Plan (Rev. Feb 9) +3.0% Net sales 144.4 148.7 +4.2 75.3% 197.5 +14.4% Operating profit 18.3 21.0 +2.6 105.2% 20.0 Analysis of changes in operating profit Q1-Q3 Results - FY2021

  6. Slide 6: Revised FY2022 Full-year Plan: Consolidated

    Revised FY2022 Full-year Plan (JPY bn) FY2021 FY2022 FY2022 Full-year Full-year Full-year Rev. Plan Rev. Plan YoY Change Results (Rev. Feb. 9) (Rev. Nov. 8) +4.4% Net sales 1,013.0 1,058.0 +449 1,052.5 Consolidated -16.6% Operating profit 92.9 77.5 -15.4 83.5 Op. profit margin 9.2% 7.3% -1.8 pt 7.9%

  7. Slide 7: Food: Strategies to Overcome Cost Increases

    Food: Strategies to Overcome Cost Increases  Though cost increases remain high, the effects of (JPY bn) price hikes and product content reductions Effects of cost increase on gradually become evident operating profit 15.0  Difference from the full-year plan as of November: Price hike + +20.3 +19.8

  8. Slide 8: Appendix

    Appendix 7 © Meiji Holdings Co., Ltd. All rights reserved.

  9. Slide 9: Financial Position as of December 2022

    Financial Position as of December 2022 (JPY bn) Results as of Dec. 2022 Change Main Factors for Change - Notes and accounts receivable-trade (+43.8) +18.6% Current assets 540.4 +84.8 - Cash and deposits (+20.3) - Raw materials and supplies (+10.5) - Other (+7.9) +1.9% - Buildings and structures, net

  10. Slide 10: Consolidated Cash Flows – Q1-Q3 FY2022

    Consolidated Cash Flows – Q1-Q3 FY2022 (JPY bn) FY2022 Q1-Q3 Results YoY Change Main Factors for Change - Profit before income taxes (-15.8) Cash flows from - Decrease in contract liability (-14.3) 36.6 -38.4 - Decrease (increase) in trade receivables (-12.8) operating activities - Increase (decreas

  11. Slide 11: Food: Analysis of Op. Profit by Business – Q1-Q3 FY2022

    Food: Analysis of Op. Profit by Business – Q1-Q3 FY2022 (JPY bn) Food Chocolate Frozen Other/ Yogurt ＆ Drinking Segment Nutrition & B to B dessert & Overseas domestic cheese milk subsidiaries Total gummy ready meal Q1-Q3 Operating Profit – FY2021 61.7 26.6 16.7 9.5 -0.2 2.2 2.7 -0.3 4.2 Due to incre

  12. Slide 12: Food: Sales by Main Product

    Food: Sales by Main Product (JPY bn) FY2022 FY2021 FY2022 vs. FY2022 Full-year Q1-Q3 Q1-Q3 YoY Change Full-year plan Results Results plan (Rev. Feb. 9) Yogurt 62.4 58.0 -6.9% 75.7% 76.7 Functional yogurt 73.8 70.2 -4.9% 72.1% 97.4 Cheese 22.5 21.3 -5.7% 76.2% 27.9 Chocolate 69.6 71.3 +2.4% 71.1% 100

  13. Slide 13: Food: Q1-Q3 FY2022 Results by Business -1

    Food: Q1-Q3 FY2022 Results by Business -1  Nutrition  Chocolate and Gummy (JPY bn) FY2022 (JPY bn) FY2022 Q1-Q3 Q1-Q3 Results YoY Change Results YoY Change +5.4% +4.8% Net sales 90.6 +4.6 Net sales 75.2 +3.4 -23.5% -7.9% Operating profit 12.8 -3.9 Operating profit 8.8 -0.7  Market size  Market s

  14. Slide 14: Food: Q1-Q3 FY2022 Results by Business -2

    Food: Q1-Q3 FY2022 Results by Business -2 Sales in each region (JPY bn)  Overseas Business 68.6 Local (JPY bn) FY2022 4.0 currency Q1-Q3 52.6 YoY Change Export, elimination Results 4.2 27.7 +15% Europe/US +30.3% Net sales 49.9 +11.6 SE Asia 20.2 China 15.2 — 9.9 Operating profit -0.2 +3% +0.1 18.3

  15. Slide 15: Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2022

    Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2022 (JPY bn) Domestic Overseas Segment ethical ethical Human Veterinary Total pharma- pharma- vaccine drug* ceuticals ceuticals Q1-Q3 Operating Profit – FY2021 18.3 3.1 2.9 13.0 -0.6 Due to increased/decreased +4.9 +7.6 +1.6 -1.5 -2.8 sales Imp

  16. Slide 16: Pharmaceutical: Q1-Q3 FY2022 Results by Business

    Pharmaceutical: Q1-Q3 FY2022 Results by Business  Domestic ethical pharmaceuticals  Human vaccine (JPY bn) FY2022 (JPY bn) FY2022 Q1-Q3 Q1-Q3 Results YoY Change Results YoY Change +10.4% -24.5% Net sales 73.5 +6.9 Net sales 28.1 -9.1 +201.6% -62.9% Operating profit 9.3 +6.2 Operating profit 4.8 -8

  17. Slide 17: Pharmaceutical: Development of Inactivated COVID-19 Vaccine (KD-414)

    Pharmaceutical: Development of Inactivated COVID-19 Vaccine (KD-414) 2022 2023 １ ２ ３ ４ ５ ６ ７ ８ ９ 10 11 12 １ ２ ３ ４ ５ ６ ７ ８ ９ 10 11 12 P I/II clinical study (Safety study, n=210) Adults P II/III clinical study (n=2,000, immunogenic study) P III clinical study (n=750/group, active controlled study, a t

  18. Slide 18: Consolidated FY2022 Full-year Plan

    Consolidated FY2022 Full-year Plan (JPY bn) FY2022 FY2022 FY2022 FY2021 Full-year Full-year Full-year Full-year YoY Results Plan Plan Plan (Rev. Feb. 9) Change (Int. May 12) (Rev. Nov. 8) +4.4% Net sales 1,013.0 1,058.0 +44.9 1,035.5 1,052.5 -16.6% Operating profit 92.9 77.5 -15.4 92.5 83.5 Op. prof

  19. Slide 19: Market Prices of Main Raw Materials Imported

    Market Prices of Main Raw Materials Imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 5,000 6,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000 0 0 (GBP/MT) Cocoa beans (USD/lb) Sugar 2,500 25 2,000 20 1,500 15 1,000 10 500 5 0 0 18 © Meiji Holdings Co., Ltd. All rights reserved. Source: Blo

  20. Slide 20:  Information in this material is not intended to solicit sale or purchase of

     Information in this material is not intended to solicit sale or purchase of shares in Meiji Holdings. The final decision relating to investments should be made based on the judgment of users themselves.  Business forecasts and other forward-looking statements are based on information available at

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