Meiji Holdings Co., Ltd. · TSE:2269
Meiji — Q1 FY2023 Earnings Presentation
20 slides from Meiji's earnings presentation, Aug 8, 2023
Slide 1: Financial Results for the Q1 of FYE March 2024 (FY2023)
Financial Results for the Q1 of FYE March 2024 (FY2023) (From April 1, 2023 to June 30, 2023) August 8, 2023 (Note) A two-for-one common stock split was issued on April 1, 2023. EPS and cash dividends per share are calculated on the assumption that the stock split was conducted at the beginning of F
Slide 2: Summary for Q1 FY2023 Consolidated Results
Summary for Q1 FY2023 Consolidated Results (JPY bn) FY2022 FY2023 FY2023 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +6.3% Net sales 247.1 262.7 +15.6 48.3% 544.0 +8.1% Operating profit 18.0 19.4 +1.4 60.9% 32.0 Op. profit margin 7.3% 7.4% +0.1 pt ― 5.9% Profit attributable to -27.6% 16.0 1
Slide 3: Food: Summary – Q1 FY2023
Food: Summary – Q1 FY2023 （JPY bn） FY2022 FY2023 FY2023 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +7.0% Net sales 204.3 218.7 +14.3 49.5% 441.4 +4.8% Operating profit 14.5 15.2 +0.6 58.7% 25.9 Analysis of changes in operating profit Q1 Results - FY2022 14.5 : Increased due to price hike +
Slide 4: Food: Penetrate price hikes/ Recover and grow sales volume
Food: Penetrate price hikes/ Recover and grow sales volume Effects on operating profit Effect of price hike on sales volume (JPY bn) Sales With measures against 30.0 volume sales decline Price hike + decrease Price hike in product amount +28.0 Regain sales volume to the same level as 20.0 before the
Slide 5: Food: Analysis of Operating Profit – Q1 FY2023
Food: Analysis of Operating Profit – Q1 FY2023 (JPY bn) Frozen Other/ Segment Yogurt ＆ Chocolate & Nutrition Drinking milk B to B dessert & Overseas domestic Total cheese gummy ready meal subsidiaries Q1 Operating Profit – FY2022 14.5 6.1 4.1 2.6 -0.3 0.4 0.7 -0.4 1.1 Due to increased/decreased +10.
Slide 6: Food: Q1 FY2023 Results by business
Food: Q1 FY2023 Results by business Yogurt & cheese (JPY bn) Net sales FY2023 Q1 Q1 Results YoY Change YoY changes +2.6% Functional yogurt +4.7% Net sales 51.5 +1.2 +8.6% Yogurt -0.9% Operating profit 6.6 +0.5 Cheese +6.2% Market size • Yogurt: +5 to +6% Meiji’s Monthly Sales（YoY, ▲: Price hike）
Slide 7: Food: Q1 FY2023 Results by business
Food: Q1 FY2023 Results by business Nutrition Chocolate & gummy (JPY bn) (JPY bn) FY2023 FY2023 Q1 Results YoY Change Q1 Results YoY Change +7.7% +3.0% Net sales 31.2 +2.2 Net sales 22.6 +0.6 +4.5% -4.4% Operating profit 4.3 +0.1 Operating profit 2.4 -0.1 Market size Market size • Sports pro
Slide 8: Pharmaceutical: Summary – Q1 FY2023
Pharmaceutical: Summary – Q1 FY2023 （JPY bn） FY2022 FY2023 FY2023 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +3.0% Net sales 42.8 44.1 +1.2 42.9% 102.9 +20.7% Operating profit 3.8 4.6 +0.7 63.1% 7.3 Analysis of changes in operating profit Q1 Results - FY2022 3.8 Due to increased/decreased
Slide 9: Pharmaceutical: Analysis of Operating Profit – Q1 FY2023
Pharmaceutical: Analysis of Operating Profit – Q1 FY2023 (JPY bn) Domestic ethical Overseas ethical Segment Total Human Vaccine Veterinary drug pharmaceuticals pharmaceuticals Q1 Operating Profit – FY2022 3.8 2.0 1.9 -0.6 0.4 Due to increased/decreased sales +0.1 +0.3 -0.1 -0.1 ― Impact of drug pric
Slide 10: Pharmaceutical: Development of Self-Amplifying mRNA COVID-19 Vaccine (ARCT-154 Series)
Pharmaceutical: Development of Self-Amplifying mRNA COVID-19 Vaccine (ARCT-154 Series) 2023 2024 mRNA drugs and vaccines manufacturing site 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 of ARCALIS, Inc.* in Minami-soma City April 28 Application First application/ examination ARCT-154 June 30 Application Ad
Slide 11: Pharmaceutical: Development of Inactivated COVID-19 Vaccine (KD-414)
Pharmaceutical: Development of Inactivated COVID-19 Vaccine (KD-414) FY2022 FY2023 FY2024 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 P II/III clinical study Adults (n=2,000, immunogenic and safety confirmation) P III clinical study (n=1,500*, active controlled, immunogenic (efficacy) and safety
Slide 12: Outlook for FY2023 (No revisions)
Outlook for FY2023 (No revisions) (JPY bn) FY2022 Results FY2023 Plan H1 Full-year H1 YoY Change Full-year YoY Change +5.1% +3.8% Net sales 517.5 1,062.1 544.0 +26.4 1,102.0 +39.8 -25.9% +3.4% Operating profit 43.1 75.4 32.0 -11.1 78.0 +2.5 Op. profit margin 8.3% 7.1% 5.9% -2.5 pt 7.1% -0.0 pt -40.1
Slide 13: Appendices
Appendices 12 © Meiji Holdings Co., Ltd. All rights reserved.
Slide 14: Financial Position as of June 2023
Financial Position as of June 2023 (JPY bn) Results as of Jun. 2023 Change Main Factors for Change +6.8% - Cash and deposits (+20.5) - Merchandise and finished goods (+8.2) Current assets 502.8 +31.9 - Notes and accounts receivable-trade (-2.3) - Investment securities (+8.0) - Land (+7.7) +0.5% Non-
Slide 15: Consolidated Cash Flows for Q1 FY2023
Consolidated Cash Flows for Q1 FY2023 (JPY bn) FY2023 Q1 Results YoY Change Main Factors for Change Cash flows from operating 2.4 -2.3 - Decrease in trade payables (-3.6) activities Cash flows from investing - Proceeds from sales of shares of subsidiaries resulting in change in -5.6 +3.2 activities
Slide 16: Food: Sales by Main Product for Q1 FY2023
Food: Sales by Main Product for Q1 FY2023 (JPY bn) FY2022 FY2023 FY2023 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan Yogurt 19.9 19.7 -0.9% 49.1% 40.1 Functional yogurt 22.8 23.9 +4.7% 48.7% 49.1 Cheese 6.8 7.2 +6.2% 52.5% 13.7 Chocolate 20.5 21.3 +3.8% 50.3% 42.3 Infant formula and enteral
Slide 17: Pharmaceutical: Q1 FY2023 Results by business
Pharmaceutical: Q1 FY2023 Results by business Domestic ethical pharmaceuticals Overseas ethical pharmaceuticals (JPY bn) (JPY bn) FY2023 FY2023 Q1 Results YoY Change Q1 Results YoY Change +7.3% +0.0% Net sales 24.8 +1.6 Net sales 12.7 +0.0 +19.5% +14.2% Operating profit 2.5 +0.4 Operating profit
Slide 18: Market Prices of Main Raw Materials Imported
Market Prices of Main Raw Materials Imported (USD/MT) (USD/MT) Nonfat Dry Milk 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) (USD/lb) Cocoa Sugar 3,000 30 2,500 25 2,000 20 1,500 15 1,000 10 500 5 0 0 17 © Meiji Holdings Co., Ltd. All rights reserved. Source: Bloomb
Slide 19: Market of Influenza Vaccine
Market of Influenza Vaccine Influenza Vaccine Supply Volume in Japan million unit 40 36.49 35 Supply volume 33.88 33.46 33.42 32.62 Usage volume 29.28 28.88 29.73 29.42 30 27.84 32.74 28.67 26.96 26.43 27.17 25.18 25.5 25 23.13 28.25 25.81 26.49 25.65 26.42 26.3 25.97 20.74 20.82 24.51 24.47 25.1 25
Slide 20: 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