Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q1 FY2022 Earnings Presentation

19 slides from Meiji's earnings presentation, Aug 9, 2022

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

    Financial Results for the Q1 of FYE March 2023 (FY2022) (From April 1, 2022 to June 30, 2022) August 9, 2022 0 © Meiji Holdings Co., Ltd. All rights reserved.

  2. Slide 2: Summary for Q1 FY2022 Consolidated Results

    Summary for Q1 FY2022 Consolidated Results (JPY bn) FY2021 FY2022 FY2022 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +4.8% Net sales 235.9 247.1 +11.2 48.7% 507.0 -3.1% Operating profit 18.6 18.0 -0.5 44.0% 41.0 Op. profit margin 7.9% 7.3% -0.6 pt ― 8.1% Profit attributable to +28.2% 12.4 1

  3. Slide 3: Food: Summary – Q1 FY2022

    Food：Summary – Q1 FY2022 (JPY bn) FY2021 FY2022 FY2022 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +2.3% Net sales 199.8 204.3 +4.5 49.4% 414.0 -25.3% Operating profit 19.4 14.5 -4.9 42.5% 34.1 Analysis of changes in operating profit : Sales of nutrition business, B to B business, and Q1 Re

  4. Slide 4: Food: Analysis of Operating Profit – Q1 FY2022

    Food：Analysis of Operating Profit – Q1 FY2022 (JPY bn) Chocolate Frozen Other/ Segment Yogurt ＆ Drinking Nutrition & B to B dessert & Overseas domestic Total cheese milk subsidiaries gummy ready meal Q1 Operating Profit – FY2021 19.4 10.0 4.8 2.1 -0.0 0.3 0.5 0.1 1.4 Due to increased/decreased +0.4

  5. Slide 5: Food: Q1 FY2022 Results by business

    Food: Q1 FY2022 Results by business  Yogurt & cheese (JPY bn) Net sales FY2022 Q1 YoY changes Q1 Results YoY Change -7.5% Functional yogurt -9.8% Net sales 50.2 -4.0 Yogurt -6.1% -39.0% Operating profit 6.1 -3.9 Cheese -9.5%  Market size • Yogurt: -5 to -6% Meiji’s Monthly Sales (YoY, %) • Cheese:

  6. Slide 6: Food: Functional Yogurt, Recovering Growth Trajectory

    Food: Functional Yogurt, Recovering Growth Trajectory R-1 • Sales decreased year-on-year in Q1 But sales of Mitasukarada series, released in April, remain above plan • Six labelless bottles in a box will be released after August • Boost sales using effective marketing and attractive products LG21 •

  7. Slide 7: Food: Q1 FY2022 Results by business

    Food: Q1 FY2022 Results by business  Nutrition  Chocolate & gummy (JPY bn) (JPY bn) FY2022 FY2022 Q1 Results YoY Change Q1 Results YoY Change +5.8% +5.5% Net sales 28.9 +1.5 Net sales 22.0 +1.1 -14.4% +23.0% Operating profit 4.1 -0.6 Operating profit 2.6 +0.4  Market size  Market size • Sports p

  8. Slide 8: Food: Strategies to Overcome Cost Increase

    Food: Strategies to Overcome Cost Increase Effect of material costs increase on full-year operating profit in FY2022 Initial plan (FX: JPY 120/USD) Additional forecasts (FX: JPY 135/USD) • Materials cost increase about JPY 9.5 billion about JPY 12.5 billion (including increase in raw milk • Energy c

  9. Slide 9: Pharmaceutical: Summary – Q1 FY2022

    Pharmaceutical: Summary – Q1 FY2022 (JPY bn) FY2021 FY2022 FY2022 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +18.3% Net sales 36.2 42.8 +6.6 46.1% 93.0 — Operating profit -0.6 3.8 +4.4 49.2% 7.7 Analysis of changes in operating profit Q1 Results - FY2021 -0.6 Due to increased/decreased sal

  10. Slide 10: Pharmaceutical: Analysis of Operating Profit – Q1 FY2022

    Pharmaceutical: Analysis of Operating Profit – Q1 FY2022 (JPY bn) Domestic Overseas Segment ethical ethical Human Veterinary Total pharma- pharma- Vaccine drug* ceuticals ceuticals Q1 Operating Profit – FY2021 -0.6 -0.7 0.1 0.3 -0.3 Due to increased/decreased +4.4 +4.8 +0.1 +0.3 -0.8 sales Impact of

  11. Slide 11: Pharmaceutical: Q1 FY2022 Results by business

    Pharmaceutical: Q1 FY2022 Results by business  Domestic ethical pharmaceuticals  Human vaccine (JPY bn) (JPY bn) FY2022 FY2022 Q1 Results YoY Change Q1 Results YoY Change +32.6% -4.8% Net sales 23.1 +5.7 Net sales 4.3 -0.2 ― ― Operating profit 2.0 +2.8 Operating profit -0.6 -0.9  Market size  Ne

  12. Slide 12: 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) Announced P II/III clinical study (immunogenic study, n=2,000） preliminary results on July 6 Third inoculation Early Adults

  13. Slide 13: Outlook for FY2022 (No revisions)

    Outlook for FY2022 (No revisions) (JPY bn) FY2021 Results FY2022 Plan H1 Full-year H1 YoY Change Full-year YoY Change +1.3% +2.2% Net sales 500.7 1,013.0 507.0 +6.2 1,035.5 +22.4 -18.5% -0.5% Operating profit 50.3 92.9 41.0 -9.3 92.5 -0.4 Op. profit margin 10.1% 9.2% 8.1% -2.0 pt 8.9% -0.2 pt Profit

  14. Slide 14: Appendix

    Appendix 13 © Meiji Holdings Co., Ltd. All rights reserved.

  15. Slide 15: Financial Position as of June 2022

    Financial Position as of June 2022 (JPY bn) Results as of Jun. 2022 Change Main Factors for Change +5.6% - Cash and deposits (+20.3) - Merchandise and finished goods (+7.0) Current assets 481.1 +25.5 - Other (+4.4) - Notes and accounts receivable-trade (-9.6) +0.2% - Machinery, equipment and vehicle

  16. Slide 16: Consolidated Cash Flows for Q1 FY2022

    Consolidated Cash Flows for Q1 FY2022 (JPY bn) FY2022 Q1 Results YoY Change Main Factors for Change - Profit before income taxes (+4.0) - Change in trade payables (+2.4) - Income taxes paid (+2.0) Cash flows from operating - Other (+8.1) 4.7 +0.5 activities - Gain on sale of property, plant and equi

  17. Slide 17: Food: Sales by Main Products for Q1 FY2022

    Food: Sales by Main Products for Q1 FY2022 (JPY bn) FY2021 FY2022 FY2022 vs. Full-year Q1 Results Q1 Results YoY Change H1 Plan Plan Yogurt 21.2 19.9 -6.1% 46.5% 42.8 Functional yogurt 25.3 22.8 -9.8% 45.3% 50.3 Cheese 7.5 6.8 -9.5% 49.9% 13.6 Chocolate 19.8 20.5 +3.5% 49.8% 41.1 Infant formula and

  18. Slide 18: Market Prices of Main Raw Materials Imported

    Market Prices of Main Raw Materials Imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 4,500 7,000 4,000 6,000 3,500 5,000 3,000 4,000 2,500 3,000 2,000 2,000 (GBP/MT) Cocoa (USD/lb) Sugar 2,500 25 2,000 20 1,500 15 1,000 10 500 5 17 © Meiji Holdings Co., Ltd. All rights reserved. Source: Bloomberg

  19. Slide 19:  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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