Itoham Yonekyu Holdings, Inc. · TSE:2296

Itoham Yonekyu — FY2024 Earnings Presentation

43 slides from Itoham Yonekyu's earnings presentation, May 2, 2025

  1. Slide 1: FY2024 Financial Results

    ITOHAM YONEKYU HOLDINGS INC. （TSE Prime：2296） FY2024 Financial Results (Ended March 31, 2025) May 02, 2025

  2. Slide 2: FY2024 Results Summary FY2025 Forecast

    FY2024 Results Consolidated  Sales increased by +3.5%, Ordinary profit decreased by -20.3%. Summary Business Segment  [Processed Food Division] Increased in sales and ordinary profit. Profits increased through price revisions although raw material costs remained high and logistics costs increased.

  3. Slide 3: Contents

    01 Earnings Results ・Consolidated FY2024 Results / FY2025 Forecast 4 ・Processed Food Division FY2024 Results / FY2025 Forecast 10 ・Meat Division FY2024 Results / FY2025 Forecast 16 02 Supplemental Data 23 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from

  4. Slide 4: Consolidated FY2024 Results

    01 Earnings Results （FY2024 Results） [Consolidated] FY2024 Full year result billion yen Previous % Year-on-Year forecast Amount Change FY2024 Results of sales Change Change% Rev 6-Feb Sales 988.8 - +33.2 +3.5% 985.0 +3.8 • Increase in sales and ordinary profit Operating profit 19.6 2.0% -2.8 -12.4%

  5. Slide 5: Consolidated FY2024 Ordinary Profit Factors

    01 Earnings Results （FY2024 Results） billion yen +0.8 [Consolidated] -5.9 経常利益増減分析 FY2024 Results • 経営統合後のシナジー発現に Increase / decrease factors 伴い、稼ぐ力が着実に向上、 of ordinary 当社の強みは profit (YoY) 安定した基礎収益力と認識 • Processed Food : +0.8B Ordinary Profit •• Ordinary 稼ぐ力を原資に成長投資を実 Meat : -5.9B 行、2035年度で経常利益500億 2

  6. Slide 6: Consolidated FY2025 Forecast

    01 Earnings Results （FY2025 Forecast） FY2025 full year financial earnings forecast billion yen [Consolidated] % Year-on-Year Amount of sales Change Change% FY2025 Forecast • Expect to increase sales Sales 1,030.0 - +41.2 +4.2% and profits Operating profit 26.5 2.6% +6.9 +35.4% Sales : +41.2B Ordinar

  7. Slide 7: Consolidated FY2025 Ordinary Profit Factors

    01 Earnings Results （FY2025 Forecast） billion yen +1.0 +6.0 [Consolidated] 経常利益増減分析 FY2025 Forecast • 経営統合後のシナジー発現に Increase / decrease factors 伴い、稼ぐ力が着実に向上、 当社の強みは of ordinary profit (YoY) Ordinary 安定した基礎収益力と認識 Profit • Processed Food : +1.0B Ordinary 27.5 Profit 稼ぐ力を原資に成長投資を実 billion yen • Meat :

  8. Slide 8: Consolidated Shareholder Returns

    103.7% Dividend payout ratio incl. 01 Earnings Results commemorative dividend DOE incl. commemorative dividend 62.8% 6.8% [Consolidated] 47.5% 45.7% 47.0% Dividend Payout 43.9% 40.8% Ratio 35.2% 30.6% 3.1% 3.1% 2.7% 2.7% 2.7% 2.3% 2.3% 2.6% Shareholder Returns DOE 10th anniversary • Execute total 10

  9. Slide 9: Contents

    01 Earnings Results ・Consolidated FY2024 Results / FY2025 Forecast 4 ・Processed Food Division FY2024 Results / FY2025 Forecast 10 ・Meat Division FY2024 Results / FY2025 Forecast 16 02 Supplemental Data 23 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from

  10. Slide 10: Processed Food Division FY2024 Results

    01 Earnings Results （FY2024 Results） [Processed Food Division] Segment Info FY2024 full year financial earnings results billion yen % Year-on-Year Previous forecast Amount Change FY2024 Results of sales Change Change% Rev 6-Feb (1Q)100％ 横12.73 縦3.22 Processed Sales 400.9 - +9.2 (2Q~)90％横11.55、縦4.14

  11. Slide 11: Processed Food Division Ordinary Profit Factors

    01 Earnings Results （FY2024 Results） [Processed Food Division] Ordinary profit factors billion yen H1 H2 Year Main Factors FY2024 Variance analysis results results results change FY2023 from of ordinary profit Ordinary profit 3.5 5.5 9.0 prev. [Quantity] - Quantity decreased due to price revision an

  12. Slide 12: Processed Food Division Growth by Category

    01 Earnings Results （FY2024 Results） ※2 「総務省家計調査」 世帯当たり支出金額_名目増減率_前年同月比 Consumer/Commercial Growth rate Growth rate by product ％ ％ [Processed Food Division] volume amount amount Ham & Sausages Consumer -2.0 +1.2 THE GRAND Alt Bayern -1.0 Commercial -4.0 +1.2 Pork Bits / Cheese In +3.4 -2.8 +1.2 Saus

  13. Slide 13: Processed Food Division FY2025 Forecast

    01 Earnings Results （FY2025 Forecast） [Processed Food Division] Segment Info FY2025 full year financial earnings forecast billion yen % Year-on-Year FY2025 Forecast Amount (1Q)100％ 横12.73 of sales縦3.22 Change Change% (2Q~)90％横11.01、縦4.14 Increase in sales and Processed Sales 410.0 - +9.1 +2.3% ordin

  14. Slide 14: Processed Food Division Ordinary Profit Factors FY2025

    01 Earnings Results （FY2025 Forecast） [Processed Food Division] Ordinary profit factors billion yen H1 H2 Year Main Factors FY2025 Forecast Forecast Forecast Forecast FY2024 [Quantity] Variance analysis of Ordinary profit 3.9 5.8 9.8 - In FY2025 1H, the trend since price revision in ordinary profit

  15. Slide 15: Contents

    01 Earnings Results ・Consolidated FY2024 Results / FY2025 Forecast 4 ・Processed Food Division FY2024 Results / FY2025 Forecast 10 ・Meat Division FY2024 Results / FY2025 Forecast 16 02 Supplemental Data 23 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from

  16. Slide 16: Meat Division FY2024 Results

    01 Earnings Results （FY2024 Results） [Meat Division] Segment Info FY2024 full year financial earnings results billion yen % Year-on-Year Previous forecast Amount Change FY2024 Results of sales Change Change% Rev 6-Feb (1Q)100％ 横12.73 縦3.22 Meat Sales 587.9 - +24.0 (2Q~)90％横11.55、縦4.14 +4.2% 580.0 +7

  17. Slide 17: Meat Division Ordinary Profit Factors

    01 Earnings Results （FY2024 Results） [Meat Division] Ordinary profit factors billion yen H1 H2 Year Main Factors FY2024 Results results results results change FY2023 from [Quantity] Variance Analysis of Ordinary profit 9.5 8.6 18.1 prev. - Domestic chicken sales volume was increasing Ordinary Profit

  18. Slide 18: Meat Division FY2024 Sales Performance

    01 Earnings Results （FY2024 Results） Domestic/Imported Growth rate ％ [Meat Division] our company (excluding ANZCO) volume amount FY2024 Sales Performance beef Domestic -5.2 +1.5 Imported -5.9 +2.8 • Domestic demand was shifting pork Domestic -1.4 +5.3 from beef, pork to chicken due Imported +1.7 +13

  19. Slide 19: Meat Division FY2025 Forecast

    01 Earnings Results （FY2025 Forecast） [Meat Division] Segment Info FY2025 full year financial earnings forecast billion yen % Year-on-Year Amount FY2025 Forecast of sales (1Q)100％ 横12.73 縦3.22 Change Change% (2Q~)90％横11.01、縦4.14 Increase in sales and Meat Sales 620.0 - +32.1 +5.5% in ordinary profit

  20. Slide 20: Meat Division Ordinary Profit Factors FY2025

    01 Earnings Results （FY2025 Forecast） [Meat Division] Ordinary profit factors billion yen H1 H2 Year Main Factors Forecast Forecast Forecast FY2025 Forecast FY2024 [Quantity] 5.8 6.4 12.2 - Plan quantity reduction through strict position Variance Analysis of Ordinary profit management and inventory

  21. Slide 21: Meat Division ANZCO Foods

    01 Earnings Results （ANZCO Foods） ※MLA ANZCO Business Performance million NZ＄ Transition of beef 90CL price : US and imported from NZ Income Before Taxes Sales [Meat Division] Market Trends (ANZCO Foods) • In FY2024, Profits were declined due to rising procurement and manufacturing costs and SG&A ex

  22. Slide 22: Contents

    01 Earnings Results ・Consolidated FY2024 Results / FY2025 Forecast 4 ・Processed Food Division FY2024 Results / FY2025 Forecast 10 ・Meat Division FY2024 Results / FY2025 Forecast 16 02 Supplemental Data 23 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from

  23. Slide 23: Profit / Loss

    02 Supplemental Data Year Results Sale of each country and region billion yen billion yen Profit / Loss FY2023 FY2024 FY2023 FY2024 Year Year Change Year Year Change Sales 955.6 988.8 +33.2 Sales 955.6 988.8 +33.2 COGS 823.0 855.5 +32.5 Japan 817.2 839.9 +22.7 Gross Profit 132.6 133.3 +0.7 Overseas

  24. Slide 24: SG&A Expenses and Non-operational Gain/Loss

    02 Supplemental Data SG & A Expenses Non-operational Gain/Loss billion yen billion yen SG & A Expenses FY2023 FY2024 FY2023 FY2024 Non-operational G/L Year Year Change Year Year Change Non-Operational G/L 3.7 1.2 -2.5 Sales 955.6 988.8 +33.2 Non-controlling 0.5 1.2 +0.7 Selling, General and interest

  25. Slide 25: Balance Sheet

    02 Supplemental Data billion yen FY2023 FY2024 FY2023 FY2024 Change Change Year end Year end Year end Year end 272.0 277.2 +5.2 Total Liabilities 177.2 180.7 +3.4 Balance Sheet Current Assets Cash and Term Deposits 23.2 21.0 -2.2 Current Liabilities 161.2 144.4 -16.8 Receivables 111.0 103.2 -7.8 Fix

  26. Slide 26: Cash Flow Statement

    02 Supplemental Data billion yen FY2023 FY2024 Cash Flow Year Year Change Statement ①Cash Flow from Operation 29.4 10.0 -19.4 Income Before Taxes 22.5 19.3 -3.3 Depreciation 12.5 13.0 +0.5 Change in Recievables -14.8 7.8 +22.5 Change in Inventories -0.8 -18.1 -17.3 Change in Payables 5.7 -9.0 -14.6

  27. Slide 27: Results by Product Category

    決算補足データData 03 Supplemental 02 商品分類別実績 Results by billion yen Product Category Consolidated Processed Food Div. Meat Div. FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 Year Year change Year Year change Year Year change Sales 955.6 988.8 +33.2 391.6 400.9 +9.2 563.9 587.9 +24.0 Ham & Sausage 183.6 187.6

  28. Slide 28: Quarterly Results

    02 決算補足データ 03 Supplemental Data billion yen Q1 Q2 Q3 Q4 FY2024 Apr - Jun Jul - Sep Oct - Dec Jan - Mar FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 FY2023 Quarterly Results results results Change results results Change results results Change results results Change Sales 235.8 227.6 +8.2 255.1 24

  29. Slide 29: FY2025 Forecast Details

    02 決算補足データ 03 Supplemental Data billion yen H1 H2 Year FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 Change Change Change F'cast results F'cast results F'cast results Rev 2-May Rev 2-May Rev 2-May FY2025 Sales 530.0 490.9 +39.1 500.0 497.9 +2.1 1,030.0 988.8 +41.2 Forecast Details Operating profit 12.5

  30. Slide 30: Contents

    01 Earnings Results ・Consolidated FY2024 Results / FY2025 Forecast 4 ・Processed Food Division FY2024 Results / FY2025 Forecast 10 ・Meat Division FY2024 Results / FY2025 Forecast 16 02 Supplemental Data 23 03 Appendix 31 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from

  31. Slide 31: Overseas Markets

    03 Appendix Pork Carcass - Spain Picnic - USA Overseas Markets Pork Bellies - USA Loin - USA Copyright © 2025 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 31

  32. Slide 32: CPI Index

    03 Appendix Beef Chicken CPI Index Pork Processed Meat Copyright © 2025 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. Date：Ministry of Internal Affairs and Communications 32

  33. Slide 33: Ham & Sausage Supply

    03 Appendix Domestic Production Imports Ham & Sausage Supply Apr.-Feb. 【Domestic】 YoY -4.6% FY2023 521,636 ton FY2024 497,780 ton 【Import】 YoY +7.7% FY2023 30,621 ton FY2024 32,977 ton (ton) Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【Total】 YoY -3.9% Domestic FY2023 Volume 45,6

  34. Slide 34: Ham/Sausage Domestic Market Share

    Date：QPR™ 03 Appendix ham/sausage domestic market ham/sausage domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Ham/Sausage Domestic Market Share 【 Share 】 Apr.-Mar. Last year 21.4％ This year 22.1％ YoY +0.7％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb.

  35. Slide 35: Wiener Domestic Market Share

    Date：QPR™ 03 Appendix Wiener domestic market Wiener domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Wiener Domestic Market Share 【 Share 】 Apr.-Mar. Last year 19.6％ This year 20.2％ YoY +0.6％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【sha

  36. Slide 36: Slice Pack of Ham, Bacon, etc.

    Date：QPR™ 03 Appendix Our share Slice pack of ham, bacon, etc. domestic market Slice pack of ham, bacon, etc. domestic market Value per 100 monitors year-on-year Average price year-on-year Slice Pack of Ham, Bacon, etc. Domestic Market Share 【 Share 】 Apr.-Mar. Last year 21.2％ This year 21.9％ YoY +0

  37. Slide 37: Pizza/Snacks Domestic Market Share

    Date：QPR™ 03 Appendix Our share Pizza/Snacks domestic market Pizza/Snacks domestic market Value per 100 monitors year-on-year Average price year-on-year Pizza/Snacks Domestic Market Share 【 Share 】 Apr.-Mar. Last year 33.9％ This year 33.8％ YoY -0.1％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. F

  38. Slide 38: Hamburger steak/Meatball Domestic Market

    Date：QPR™ 03 Appendix Our share Hamburger steak/Meatball domestic market Hamburger steak/Meatball domestic market Value per 100 monitors year-on-year Average price year-on-year Hamburger steak/ Meatball Domestic Market Share 【 Share 】 Apr.-Mar. Last year 13.7％ This year 14.2％ YoY +0.5％ Apr. May Jun.

  39. Slide 39: Processed Chicken Food Domestic Market

    Date：QPR™ 03 Appendix Our share Processed chicken food domestic market Processed chicken food domestic market Value per 100 monitors year-on-year Average price year-on-year Processed Chicken Food Domestic Market Share 【 Share 】 Apr.-Mar. Last year 23.2％ This year 22.0％ YoY -1.2％ Apr. May Jun. Jul. A

  40. Slide 40: Marketed Volume/Ending Stock/Market Price (Beef)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Beef) Domestic Bee

  41. Slide 41: Marketed Volume/Ending Stock/Market Price (Pork)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Pork) Domestic Por

  42. Slide 42: Marketed Volume/Ending Stock/Market Price (Chicken)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products ※bone-in meat base Marketed Volume/ Ending Stock/ Market Price

  43. Slide 43: Contact Information

    Contact Information ALT ITO Bldg. 1-6-21, MITA, MEGURO-KU, TOKYO , 153-8587, JAPAN ITOHAM YONEKYU HOLDINGS INC. Public & Investor Relations Office TEL : +81-3-5723-6892 You can also contact us from the company website. https://www.itoham-yonekyu-holdings.com The current plans, forecasts, strategies

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