Ajinomoto Co., Inc. · TSE:2802
Ajinomoto — Q1 FY2014 Earnings Presentation
18 slides from Ajinomoto's earnings presentation, Jul 31, 2014
Slide 1: Consolidated Results First Quarter Ended June 30, 2014
Consolidated Results First Quarter Ended June 30, 2014 1. Overview 2. Financial Position 3. Segment Information July 31, 2014 Ajinomoto Co., Inc. Copyright © 2014 Ajinomoto Co., Inc. All rights reserved.
Slide 2: 1. (1) Overview of Results
1. (1) Overview of Results (¥ Billion) Apr.-June Apr.-June FY2014 Progress YoY Change 2014 2013 (Forecast) (A) Amount % (B) A/B Net sales 227.6 233.7 -6.1 -3% 1,008.0 23% Domestic Food Products 71.0 70.1 0.8 1% 312.3 23% Overseas Food Products 74.4 71.4 3.0 4% 322.2 23% Bioscience Products & 53.2 55
Slide 3: 1. (2) Comments on Results for the First Three Months of FY2014
1. (2) Comments on Results for the First Three Months of FY2014 Net sales decreased overall due to impact of spin-off of infusion and dialysis business units in Pharmaceuticals and decrease in sales of feed-use amino acids, despite growth in sales of Overseas Food Products and Domestic Food Products
Slide 4: 1. (3) Comments on Results for the First Three Months of FY2014
1. (3) Comments on Results for the First Three Months of FY2014 Ordinary income (¥ Billion) Apr.-June Apr.-June Change Full-year Progress * None 2014 2013 Amount % Forecast Non-operating 2.2 1.9 0.2 11% - - income (net) Ordinary income 15.5 17.2 -1.7 -10% 75.0 21% Net income (¥ Billion) Apr.-June Ap
Slide 5: 2. Financial Position
2. Financial Position (¥ Billion) ¥6.2 billion decrease in total assets from March 31, 2014 June 30, 2014: Total assets 1,087.0 *Decrease in yen values of the balance sheets of overseas subsidiaries after currency translation Current Liabilities assets 430.6 545.1 Cash Flow (¥ Billion) Net June 2014
Slide 6: 3. (1) Change by Business Segment
3. (1) Change by Business Segment Net sales (¥ Billion) 233.7 Apr.-June 2013 Domestic Food Products +0.8 Overseas Food Products Effect of Currency Translation +3.0 Bioscience Products & Fine Chemicals Overseas Food -1.9 Products: -2.3. Pharmaceuticals Bioscience Products & -7.3 Fine Chemicals: +1.4
Slide 7: 3. (2) Domestic Food Products
3. (2) Domestic Food Products (¥ Billion) Full-year Apr.-June 2014 Progress Apr.-June 2013 Change Forecast Net sales 71.0 312.3 23% 70.1 0.8 Seasonings & 44.3 - - 44.8 -0.5 *1 processed foods Frozen foods 26.7 - - 25.3 1.4 *2 Operating income 5.0 28.8 17% 6.1 -1.2 *3 Seasonings & 5.7 - - 6.5 -0.8 pr
Slide 8: 3. (3) Overseas Food Products
3. (3) Overseas Food Products (¥ Billion) Full-year Apr.-June 2014 Progress Apr.-June 2013 Change Forecast Net sales 74.4 322.2 23% 71.4 3.0 Consumer foods 61.9 271.7 23% 58.2 3.8 *1 Umami seasonings for 12.4 50.4 25% 13.2 -0.8 *2 processed food mfrs. Operating income 7.8 28.2 28% 6.1 1.6 *3 Shared
Slide 9: 3. (4) Bioscience Products & Fine Chemicals
3. (4) Bioscience Products & Fine Chemicals (¥ Billion) Full-year Apr.-June 2014 Progress Apr.-June 2013 Change Forecast Net sales 53.2 238.4 22% 55.0 -1.9 Feed-use amino acids 21.1 102.3 21% 23.7 -2.6 *1 Amino acids 20.5 - - 19.0 1.5 *2 Specialty chemicals 10.7 - - 11.1 -0.4 *3 Operating income 0.8
Slide 10: 3. (5) Pharmaceuticals
3. (5) Pharmaceuticals (¥ Billion) Full-year Apr.-June 2014 Progress Apr.-June 2013 Change Forecast Net sales 9.4 44.0 21% 16.8 -7.3 *1 Operating income 0.2 3.5 5% 0.4 -0.2 *2 Shared companywide expenses -0.4 -1.6 22% -0.5 0.1 *1 Decrease in sales of self-distributed products due to impact of spin-o
Slide 11: 3. (6) Other Business
3. (6) Other Business (¥ Billion) Full-year Other Business Apr.-June 2014 Progress Apr.-June 2013 Change Forecast Net sales 19.7 91.1 22% 20.4 -0.7 *1 Edible oils & Coffee products 0.5 - - 0.5 -0.1 Operating income -0.4 -0.2 198% -0.0 -0.4 *2 Edible oils & Coffee products 0.4 - - 0.5 -0.1 Shared com
Slide 12: 3. (7) Net Sales by Business & Geographical Area
3. (7) Net Sales by Business & Geographical Area Upper row: Apr.-June 2014; lower row: Apr.-June 2013 Figures in parentheses represent YoY change. (¥ Billion) Japan Asia Americas Europe Total Domestic Food 65.3 (-0.5) 1.4 (0.0) 3.4 (0.7) 0.9 (0.5) 71.0 (0.8) Products 65.7 1.4 2.7 0.4 70.1 Overseas F
Slide 13: 3. (8) Operating Income by Business & Geographical Area
3. (8) Operating Income by Business & Geographical Area Upper row: Apr.-June 2014; lower row: Apr.-June 2013 Figures in parentheses represent YoY change. (¥ Billion) * Japan Asia Americas Europe Other Total Domestic Food 6.0 (-1.0) 0.5 (-0.0) 0.3 (0.0) 0.1 (0.0) -1.9 (-0.2) 5.0 (-1.2) Products 7.0 0
Slide 14: 3. (9) Comments on Operating Income by Business & Geographical Area
3. (9) Comments on Operating Income by Business & Geographical Area Apr.-June FY2014 Change Compared with Same Period of Previous Year 1. Overseas Food Products (¥ Billion) [YoY change] Japan +0.1; Asia +1.3; Americas +0.4; Europe -0.1; Other* -0.0; Total +1.6 Asia: Increase due to higher sales of c
Slide 15: (Reference) FY2014/Q1 Trends in Overseas Consumer Food Products
(Reference) FY2014/Q1 Trends in Overseas Consumer Food Products Net sales by product Net sales by region Other Nouth 1% America Other Europe processed 1% 6% foods South 16% America AJI-NO- Beverages 16% MOTO® 9% FY2014/Q1 FY2014/Q1 39% ¥61.9 ¥61.9 billion billion Asia Other 77% seasonings 35% FY2014
Slide 16: (Reference) Feed-Use Lysine Market Price and CBOT Spread Trend
(Reference) Feed-Use Lysine Market Price and CBOT Spread* Trend *The spread is the price difference between soybean meal and corn on the Chicago Board of Trade (CBOT). (USD/kg, CIF) (USD/ST） 3.0 Feed-Use Lysine Market Price(USD/kg) & CBOT Spread（USD/ST) 320 2.5 270 Spread 220 2.0 170 1.5 120 1.0 Lys
Slide 17: (Reference) Change in Consolidated First Quarter Net Sales
(Reference) Change in Consolidated First Quarter Net Sales Copyright © 2014 Ajinomoto Co., Inc. All rights reserved. 16
Slide 18: Forward-looking statements disclaimer
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 and do not represent a commitment from Ajinomoto Co., Inc. that they will be achieved. A number of factors could ca