Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q1 FY2025 Earnings Presentation

24 slides from Meiji's earnings presentation, Aug 6, 2025

  1. Slide 1: Financial Results for the Q1 of FYE March 2026 (FY2025)

    Financial Results for the Q1 of FYE March 2026 (FY2025) (From April 1, 2025 to June 30, 2025) August 6, 2025 0 © Meiji Holdings Co., Ltd. All rights reserved.

  2. Slide 2: Summary for Q1 FY2025 Consolidated Results

    Summary for Q1 FY2025 Consolidated Results (JPY bn) FY2024 FY2025 FY2025 Q1 Results Q1 Results YoY change vs. H1 Plan H1 Plan -1.8% Net sales 278.7 273.5 -5.1 46.4% 589.0 -13.4% Operating profit 20.4 17.7 -2.7 44.9% 39.5 Op. profit margin 7.4% 6.5% -0.9pt ー 6.7% Profit attributable to -27.6% 13.9 10

  3. Slide 3: Food: Summary – Q1 FY2025

    Food: Summary – Q1 FY2025 （JPY bn） FY2024 FY2025 FY2025 Q1 Results Q1 Results YoY change vs. H1 Plan H1 Plan -0.5% Net sales 225.9 224.8 -1.1 48.4% 464.7 +1.1% Operating profit 13.5 13.6 +0.1 46.1% 29.7 Analysis of changes in operating profit Q1 Results - FY2024 13.5 : Impact of price increase +9.2

  4. Slide 4: Food: Analysis of Operating Profit by Business – Q1 FY2025

    Food: Analysis of Operating Profit by Business – Q1 FY2025 (JPY bn) Segment Food Dairy Chocolate Nutrition Other Total solutions Q1 Operating Profit – FY2024 13.5 4.8 2.2 4.1 1.6 0.5 Due to increased/decreased sales +4.1 -0.0 +3.6 -0.8 +1.7 -0.4 Changes in COGS -4.1 -0.2 -2.0 -0.7 -1.0 -0.2 Changes

  5. Slide 5: Maintain Swift Response to Overcome Cost Increase

    Food: Maintain Swift Response to Overcome Cost Increase Impact on Operating profit +60.4 (JPY bn) Price increase + Product amount change  For Q1 FY2025, cost increased by JPY 5.0 bn mainly from 30 +28.8 +34.0 cocoa beans and raw milk in Japan 20  Further cost increase expected in Q2, but the trend

  6. Slide 6: Food: Q1 FY2025 Results by business (Dairy)

    Food: Q1 FY2025 Results by business  Dairy business  Domestic (Japan) (JPY bn) FY2025 FY2025  Market size (Q1) Q1 Results YoY change H1 Plan YoY change • Yogurt (incl. Functional yogurt): +3 to +4% -0.5% +1.3% Net Sales 66.9 -0.3 137.3 +1.7 • Drinking milk: -3 to -4% Domestic (Japan) 66.0 -0.7% 1

  7. Slide 7: Food: Q1 FY2025 Results by business (Chocolate)

    Food: Q1 FY2025 Results by business  Chocolate business (JPY bn) FY2025 FY2025  Domestic (Japan) Q1 Results YoY change H1 Plan YoY change  Market size (Q1) +3.9% +6.4% • Chocolate: +8 to +9% Net Sales 38.7 +1.4 78.7 +4.7 • Gummy: +17 to +18% +9.8% +5.1% Domestic (Japan) 24.8 +2.2 46.7 +2.2  Choc

  8. Slide 8: Food: Q1 FY2025 Results by business (Nutrition)

    Food: Q1 FY2025 Results by business  Nutrition business (JPY bn) FY2025 FY2025  Domestic (Japan) Q1 Results YoY change H1 Plan YoY change  Market size (Q1) Net Sales 29.1 -4.5% 64.0 +2.8% • Sports protein (ready-to-drink): -1 to -2% -1.3 +1.7 -5.3% +1.9%  Infant formula: Significantly decreased

  9. Slide 9: Food: Q1 FY2025 Results by business (Food solutions)

    Food: Q1 FY2025 Results by business  Food solutions business (JPY bn) FY2025 FY2025  Domestic (Japan) Q1 Results YoY change H1 Plan YoY change  B2B business: Higher sales contributed from price increase +1.2% +4.7% and enhanced proposals activities Net Sales 48.7 +0.5 104.0 +4.6  Cheese for B2C:

  10. Slide 10: Pharmaceutical: Summary – Q1 FY2025

    Pharmaceutical: Summary – Q1 FY2025 （JPY bn） FY2024 FY2025 FY2025 Q1 Results Q1 Results YoY change vs. H1 Plan H1 Plan -7.3% Net sales 52.9 49.0 -3.8 39.1% 125.3 -35.5% Operating profit 7.4 4.7 -2.6 38.9% 12.3 Analysis of changes in operating profit Q1 Results - FY2024 7.4 Due to increased/decreased

  11. Slide 11: Pharmaceutical: Q1 FY2025 Net sales by Major Area

    Pharmaceutical: Q1 FY2025 Net sales by Major Area (JPY bn) FY2025 FY2025 Q1 Results YoY change H1 Plan YoY change -16.6% +6.9% Infectious Diseases *1 9.0 -1.7 23.3 +1.5 -19.0% +9.8% Sulbacillin 2.8 -0.6 7.8 +0.7 +8.1% +34.4% TAZOPIPE 1.9 +0.1 5.2 +1.3 -32.2% +20.6% Domestic MEIACT 1.1 -0.5 3.9 +0.6

  12. Slide 12: Outlook for FY2025 (No revisions for H1 and Full-year)

    Outlook for FY2025 (No revisions for H1 and Full-year) (JPY bn) FY2024 Results FY2025 Plan H1 Full-year H1 YoY change Full-year YoY change +3.5% +3.5% Net sales 569.0 1154.0 589.0 +19.9 1,195.0 +40.9 -11.0% +7.4% Operating profit 44.3 84.7 39.5 -4.8 91.0 +6.2 Op. profit margin 7.8% 7.3% 6.7% -1.1 pt

  13. Slide 13: Appendices

    Appendices 12 © Meiji Holdings Co., Ltd. All rights reserved.

  14. Slide 14: Analysis of Consolidated Operating Profit – Q1 FY2025

    Analysis of Consolidated Operating Profit – Q1 FY2025 （JPY bn） Consolidated Operating Profit Food Pharma Other 13.5 7.4 -0.4 Q1 Results - FY2024 20.4 *1 ＋4.1 -1.4 ― Due to increased/decreased sales +2.7 ― -0.6 ― Impact of drug price revision -0.6 -4.1 ＋0.1 ― Changes in costs of goods sold -4.0 *2 Ch

  15. Slide 15: Food: Q1 FY2025 Overseas Business Results

    Food: Q1 FY2025 Overseas Business Results  Overseas by region  China business (JPY bn) FY2025 (JPY bn) FY2025 FY2025 FY2025 Q1 YoY YoY Q1 YoY YoY H1 Plan H1 Plan Results change change Results change change -7.7% +30.6% -7.7% +30.6% Net sales 5.9 -0.4 14.8 +3.4 Net sales 5.9 -0.4 14.8 +3.4 China ー

  16. Slide 16: Sales by Main Product for Q1 FY2025

    Food: Sales by Main Product for Q1 FY2025 (JPY bn) FY2024 FY2025 FY2025 Q1 Results Q1 Results YoY change vs. H1 Plan H1 Plan Functional yogurt 22.6 22.3 -1.3% 49.9％ 44.6 Yogurt 19.6 20.6 +5.2% 51.1％ 40.3 Drinking milk, milk for home delivery 19.2 19.0 -0.9% 45.0％ 42.4 Chocolate 23.1 25.2 +9.0% 53.7％

  17. Slide 17: Market Prices of Main Raw Materials Imported

    Market Prices of Main Raw Materials Imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 4,000 6,000 5,000 3,000 4,000 2,000 3,000 2,000 1,000 1,000 0 0 (GBP/MT) Cocoa (USD/lb) Sugar 12,000 30 10,000 25 8,000 20 6,000 15 4,000 10 2,000 5 0 0 16 © Meiji Holdings Co., Ltd. All rights reserved. Source: Bl

  18. Slide 18: Pharmaceutical: Analysis of Operating Profit – Q1 FY2025

    Pharmaceutical: Analysis of Operating Profit – Q1 FY2025 (JPY bn) Domestic Overseas Vaccines and Segment Total pharmaceuticals pharmaceuticals Veterinary drugs (Japan) Q1 Operating Profit – FY2024 7.4 6.1 3.0 -1.7 Due to increased/decreased sales -1.4 -1.2 -0.2 +0.1 Impact of drug price revision -0.

  19. Slide 19: Pharmaceutical: Q1 FY2025 Results by business

    Pharmaceutical: Q1 FY2025 Results by business  Domestic pharmaceuticals (Japan)  Overseas pharmaceuticals (JPY bn) (JPY bn) FY2025 FY2025 FY2025 FY2025 Q1 Results YoY H1 Plan YoY Q1 Results YoY H1 Plan YoY change Change change Change -3.0% +7.9% -18.3% +6.7% Net sales 27.5 -0.8 57.9 +4.2 Net sales

  20. Slide 20: Pharmaceutical: Q1 FY2025 Results by business (Vaccines and Veterinary)

    Pharmaceutical: Q1 FY2025 Results by business  Vaccines and Veterinary drugs (JPY bn) FY2025 FY2025 Q1 Results YoY H1 Plan YoY change change +6.9% +18.4% Net sales 6.2 +0.3 31.6 +4.9 － -60.7% Op. profit -1.8 -0.1 1.7 -2.6  Net sales • Higher sales driven by five-in-one combination vaccine  Operat

  21. Slide 21: Pharmaceutical: R&D Pipeline - Infectious disease and others

    Pharmaceutical: R&D Pipeline - 1 Code No. Efficacy Classification Target Disease Stage (Generic Name) Infectious disease OP0595* (Nacubactam) β-lactamase inhibitor Infections caused by carbapenem-resistant bacteria Phase III (Japan, Overseas)** KD-380 Induction and maintenance therapy for patients w

  22. Slide 22: Pharmaceutical: R&D Pipeline - Vaccine

    Pharmaceutical: R&D Pipeline - 2 Code No. Efficacy Target Disease Stage (Generic Name) Classification Launched (Japan) Self-amplifying mRNA vaccine against COVID-19 - Received approval for partial amendment to KOSTAIVE Vaccine (18 years old or older), 16 dose vial manufacturing and marketing approva

  23. Slide 23: Pharmaceutical: R&D Pipeline - Veterinary Drugs

    Pharmaceutical: R&D Pipeline - 3 Code No. Efficacy Classification Stage Launched (Japan) ME4137 Injectable antibacterial drug for swine Product name: Forcyl S (Launched on January 6, 2025) KD-412* Vaccine for cattle Approved (Japan) Veterinary Drugs MD-22-3002 Anti-inflammatory drug for cattle, swin

  24. Slide 24: Information in this material is not intended to solicit sale or purchase of shares

     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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