Slide 1: Forecast for FY2026 and Initiatives for Enhancing Corporate Value
Ajinomoto Co., Inc. (2802) Forecast for FY2026 (Ending March 31, 2027) and Initiatives for Enhancing Corporate Value Masataka Kaji Executive Officer, General Manager, IR Office August 6, 2026
Slide 2: Forward-looking statements
⚫Forward-looking statements, such as business performance forecasts, made in these materials are based on management's estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations. ⚫This material includes sum
Slide 3: Today's Message
Today’s Message • Revenue increased and profit significantly increased in Q1-FY2026. Sales, business profit, and profit attributable to owners of the parent company all set new records for Q1. Business profit was 127% of the previous year. • In the Food products business, the Seasonings and Foods bu
Slide 4: I-1. Digest of the First Quarter (April - June)
I-1. Digest of the First Quarter (April - June) Business profit: Profit attributable to owners of the Sales: Increased parent company: Significantly Increased (New record) Increased (New record) (New record) ¥412.1 billion ¥60.1 billion ¥36.4 billion 113% of FY2025 127% of FY2025 113% of FY2025 Excl
Slide 5: I-2. Changes in Business Profit (Q1 Results by P&L Factor)
I-2. Changes in Business Profit (Q1 Results by P&L Factor) Increased GP from Investment in intangible (¥ bil.) an improved profit structure assets to bring growth 70 7.2 -12.3 18.4 Investment in Personnel: -0.4 Approx. -¥2.6bil. Marketing: Approx. -¥1.5bil. 50 Investment in R&D: Approx. -¥0.6bil. Cu
Slide 6: I-2. Changes in Business Profit (Q1 Results by Disclosed Segment)
I-2. Changes in Business Profit (Q1 Results by Disclosed Segment) (¥bil) Q1-FY26 Actual vs. Q1-FY25 Actual 70 9.7 4.7 -0.2 -0.6 50 -0.6 60.1 47.2 30 Q1-FY25 Seasonings and Frozen Foods Healthcare and Other Shared Q1-FY26 Actual Foods Others companywide Actual expenses (¥bil) (Ref.) FY2026 Initial Fu
Slide 7: I-3. Key Financial Results by Segment (1)
I-3. Key Financial Results by Segment (1) Vs. Q1-FY2025 Business Overview, Q1-FY2026 Overall, revenue increased when both the Seasonings and Foods business Sales and Frozen Foods businesses are combined. Food Products business overall Business Overall, business profit increased when both the Seasoni
Slide 8: I-3. Key Financial Results by Segment (2)
I-3. Key Financial Results by Segment (2) Vs. Q1-FY2025 Business Overview, Q1-FY2026 Overall, revenue increased significantly. Functional Materials, Amino Acids for Sales Pharmaceuticals and Foods, and Bio-Pharma Services (CDMO) all saw Bio & Fine Chemicals increased revenue. business overall Busine
Slide 9: I-4. Revised Forecast for FY2026
Ⅰ-4. Revised Forecast for FY2026 Assumed exchange rate: ¥150/USD Revised upward forecasts for Sales, Business Profit and Profit attributable to owners of the parent company, reflecting strong performance in the Functional Materials business. Impact from Middle East tensions, which was not factored i
Slide 10: I-5. Impact of the Situation in the Middle East and Our Response Policy
I-5. Impact of the Situation in the Middle East and Our Response Policy Although increased costs due to the situation in the Middle East may have a -¥25.0 billion potential impact (reflecting Q1 results) for the full year, we will respond agilely to absorb this impact during FY2026. Impact of the si
Slide 11: I-5. Impact of the Situation in the Middle East (Food Products Business)
I-5. Impact of the Situation in the Middle East and Our Response Policy (Food Products Business*) (*Total of Seasonings and Foods and Frozen Foods) The impact of increased costs due to the situation in the Middle East, such as for raw materials and logistics, is expected to become fully apparent fro
Slide 12: I-6. Changes in Business Profit (FY2026 Forecast)
I-6. Changes in Business Profit (FY2026 Forecast) (¥ bil.) FY2026 Revised Forecast vs. FY2025 Actual 250 18.7 200 2.8 3.7 -0.9 -3.6 150 181.1 202.0 100 FY25 FY25 Actual Seasonings Seasonings Frozen Frozen Healthcareand Foods Healthcare Other Other Shared Shared FY26 FY26 Actual and Foods Foods and O
Slide 13: I-7. Sauce and Seasonings, and Quick Nourishment: Breakdown of Sales
I-7. Sauce and Seasonings, and Quick Nourishment: Breakdown of Sales Breakdown of sales of Sauce and Seasonings and Quick Nourishment (Japan and overseas) Japan（including coffee） Overseas Q1-FY26 Actual Q1-FY26 Actual Overseas Sales: 103% Japan Sales 105% （local currency basis） Volume 95% Unit price
Slide 14: I-8. Healthcare and Others (Functional Materials)
I-8. Healthcare and Others (Functional Materials) Reflecting Q1 results, the FY2026 forecast was revised upward (sales: +¥9.0 billion, business profit: +¥5.0 billion). Sales of ABFTM* for high-performance boards used in AI, servers, networks, etc. continue to be strong, and our product mix is also i
Slide 15: I-9. Healthcare and Others (Functional Materials)
I-9. Healthcare and Others (Functional Materials) We will begin preparations to merge Ajinomoto Fine-Techno Co., Inc., which serves as the core of the functional materials business, into Ajinomoto Co., Inc. through an absorption-type merger, with an effective date of April 1, 2027. For details, plea
Slide 16: I-10. Healthcare and Others (Bio-Pharma Services (CDMO Services))
I-10. Healthcare and Others (Bio-Pharma Services (CDMO Services)) In Q1-FY2026, both revenue and profit increased overall. Revenue and profit increased for small molecules and gene therapy (Forge). Although revenue and profit decreased for AJIPHASEⓇ due to the timing of shipments, results were in li
Slide 17: Reference: Growth Paths by Segment
Reference: Growth Paths by Segment Segment Organic growth Business profit ROIC EBITDA margin (Vs. prev. year) (Vs. prev. year) FY25 Q1-FY26 FY26 FY25 Q1-FY26 FY26 FY25 FY26 FY25 Q1-FY26 FY26 Sauce & actual Revised actual actual Revised actual Revised actual actual Revised actual Seasonings forecast
Slide 18: Message from the CEO
Message from the CEO We will think well, do well, and will aim to steadily achieve our FY2026 forecast, and achieve the goals of our 2030 Roadmap ahead of schedule. • Q1-FY2026 got off to a strong start, with business profit reaching a record high for a single quarter. • In addition to steady growth
Slide 19: Forward-looking statements
➢ Forward-looking statements, such as business performance forecasts, made in these materials are based on management's estimates, assumptions and projections at the time of publication. A number of factors could cause actual results to differ materially from expectations. ➢ This material includes s
Slide 20: Consolidated Statements of Income
Consolidated Statements of Income Excluding currency FY26 full- Q1-FY26 Q1-FY25 Difference Vs. prev. year translation YTD progress Vs. prev. year year forecast (¥ Bil) (A) (B) (A) – (B) (A) / (B) (A) / (C) (A) / (B) (C) Sales 412.1 364.0 48.0 113％ 105% 1,732.0 23% Business profit 60.1 47.2 12.8 127％