Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q1 FYE March 2020 Earnings Presentation

12 slides from Meiji's earnings presentation, Aug 6, 2019

1. Slide 1: Financial Results - Q1 FYE March 2020

   Financial Results - For the Q1 of FYE March 2020 - (From April 1, 2019 to June 30, 2019) August 6, 2019

2. Slide 2: Summary - Q1 FYE March 2020

   Summary - Q1 FYE March 2020 FYE March FYE March Plan - FYE March 2020 (JPY bn) 2019 2020 YoY vs. H1 Meiji HD (consolidated) Q1 Results Q1 Results Change H1 Plan Full-year (1Q-2Q) +0.9% Net sales 296.3 298.9 +2.5 47.8% 625.0 1,309.0 +4.4% Operating income 19.7 20.6 +0.8 46.9% 44.0 108.0 Op. income ma

3. Slide 3: Food Summary - Q1 FYE March 2020

   Food Summary - Q1 FYE March 2020 (JPY bn) FYE March FYE March Plan - FYE March 2020 2019 2020 H1 Food Segment Q1 Results Q1 Results YoY Change vs. H1 Plan Full-year (1Q-2Q) +0.2% Net sales 258.6 259.0 +0.4 48.5% 534.0 1,090.0 Operating +6.6% 18.4 19.6 +1.2 50.5% 39.0 90.0 income YoY Change in Operat

4. Slide 4: Food Sales by Mainstay Products

   Food Sales by Mainstay Products - Q1 FYE March 2020 (JPY bn) Plan - FYE March FYE March FYE March 2020 2019 Q1 2020 Q1 Results Results YoY vs. H1 Full-year Change H1 Plan (1Q-2Q) Yogurt 22.5 21.7 -3.8% 45.8% 47.4 90.6 Meiji Bulgaria Yogurt 21.0 19.8 -5.6% 47.8% 41.5 78.8 Functional yogurt 27.1 25.8

5. Slide 5: Food Analysis of Operating Income

   Food Analysis of Operating Income - Q1 FYE March 2020 Food Fresh and Other (JPY bn) Processed Corporate Segment Fermented Confectionery Nutrition Overseas Domestic Food Expenses Total Dairy Subsidiaries Q1 Op. Income – 18.4 11.3 1.6 3.1 3.1 -0.0 1.2 -2.1 FYE March 2019 Due to increased/decreased +2.

6. Slide 6: Pharma Summary - Q1 FYE March 2020

   Pharma Summary - Q1 FYE March 2020 (JPY bn) FYE March FYE March FYE March 2020 Plan 2019 2020 H1 Pharmaceutical YoY Change vs. H1 Plan Full-year Segment Q1 Results Q1 Results (1Q-2Q) +5.8% Net sales 37.8 40.0 +2.1 43.5% 92.1 220.5 Operating -34.3% 1.4 0.9 -0.5 19.2% 5.1 18.5 income YoY Change in Ope

7. Slide 7: Full-year Outlook - FYE March 2020 [No Change]

   Full-year Outlook - FYE March 2020 [No Change] (JPY bn) FYE March 2019 Results FYE March 2020 Plan Meiji HD (consolidated) H1 H1 Full-year YoY Full-year YoY (Q1-Q2) (Q1-Q2) Change Change Net sales 611.9 1,254.3 625.0 +2.1% 1,309.0 +4.4% +13.0 +54.6 Operating income 43.8 98.3 44.0 +0.4% 108.0 +9.8% +

8. Slide 8: Appendix

   Appendix 8 ｜ Aug. 6, 2019 ｜ Copyright © Meiji Holdings Co., Ltd. All rights reserved.

9. Slide 9: Financial Position as of June 2019

   Financial Position as of June 2019 Results (JPY bn) as of Jun. 2019 Change Main Factors for Change -0.1% - Notes and accounts receivable (-7.9) - Goods and products (+5.9) Current assets 420.8 -0.6 - Cash and deposits (+0.6) +0.5% - Buildings and structures (net) (+6.7) - Construction in progress (+

10. Slide 10: Yogurt and Chocolate Market Trends in Japan

    Yogurt and Chocolate Market Trends in Japan YoY Change (JPY bn) 5.0% 386.3 400.4 384.9 373.6 0.0% 346.8 348.4 Yogurt -5.0% -10.0% FY3/19 FY3/20 1Q 2Q 3Q 4Q 1Q FY3/14 FY3/15 FY3/16 FY3/17 FY3/18 FY3/19 (JPY bn) YoY Change 10.0% 526.0 550.0 537.0 486.0 504.0 Chocolate 452.0 5.0% 0.0% -5.0% FY3/19 FY3/

11. Slide 11: Market prices of main raw materials imported

    Market prices of main raw materials imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 2,500 4,500 4,000 2,000 3,500 1,500 3,000 1,000 2,500 (GBP/MT) Cocoa beans (Cent/Bushel) Sugar 2,500 25 2,000 20 1,500 15 1,000 10 500 5 11 ｜ Aug. 6, 2019 ｜ Copyright © Meiji Holdings Co., Ltd. All rights reserved.

12. Slide 12:  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.  Business forecasts and other forward-looking statements are based on information available at the time of the release of this presentation and reasonable assumptions made by the Company. Actual

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