Slide 1: AJINOMOTO CO., INC (2802)
AJINOMOTO CO., INC（2802） (As of September 2026) 1 Copyright © 2026 Ajinomoto Co., Inc. All rights reserved
Slide 2: 1. Overview
1. Overview Established year Business operation 1909 Number of factory 121 affiliated companies 126 in 40 countries and regions Number of employee Number of R&D 34,787 Over 1,700 (As of March 31, 2026) 2 Copyright © 2026 Ajinomoto Co., Inc. All rights reserved
Slide 3: 2. Our Founding Aspiration and Now
2. Our Founding Aspiration and Now Commercialized AJI-NO-MOTO® in 1909 from amino acids (umami ingredients) contained in kelp dashi. Our founding aspiration Contribute to society through food Commitment to improve the nutrition of Japanese people with umami Dr. Kikunae Ikeda, Saburosuke Suzuki II, D
Slide 4: 3. Aspiration (Purpose)
3. Aspiration (Purpose) Contributing to the well-being of all human beings, our society, and our planet with “AminoScience” Sustainable agrifood systems 4 Copyright © 2026 Ajinomoto Co., Inc. All rights reserved
Slide 5: 4. What is "AminoScience"?
4. What is “AminoScience”? A collective term for the various materials, functions, technologies, and services derived from research and implementation processes with a rigorous focus on the function of amino acids. It also refers to the Ajinomoto Group’s unique scientific approach to connect these t
Slide 6: 5. Using Amino Acids as a Source for Range of Business
5. Using Amino Acids as a Source for Range of Business Ajinomoto Build-up FilmTM (ABFTM) 6 Copyright © 2026 Ajinomoto Co., Inc. All rights reserved
Slide 7: 6-1. Sales and Business Profit History
6． Sales and Business Profit 6-1. Sales and Business Profit History Sales Business Profit 280 14.0% 180 260 Business Profit Margin (RHS) 12.0% 240 160 220 10.0% 200 140 8.0% 180 6.0% 160 120 140 4.0% 100 120 2.0% 100 80 80 0.0% • Sales / Business Profit (LHS）: % with FY11 as 100 • IFRS from FY15 Bus
Slide 8: 6-2. FY2025 Sales and Business Profit by Segments
6． Sales and Business Profit 6-2. FY2025 Sales and Business Profit by Segments ＜Sales＞ Other 1% EMEA FY25 Healthcare & 11% Japan ¥1,583.7 billion Others 22% Americas 36% Business Segment 24% Geographical Area Frozen Foods Seasonings & Foods Asia 18% 59% 29% ＜Business Profit＞ EMEA Other 3% 6% America
Slide 9: 7. Shift from structural reform to growth
7. Shift from structural reform to growth We aim to achieve a highly profitable, unique, and robust structure by shifting to growth in the four outcome-driven focused growth areas through evolution of core businesses and business model transformation (BMX) . Four focused growth areas Bio & Fine Heal
Slide 10: 8. ASV Indicators
8. ASV Indicators 8. ASV Indicators We will promote “medium-term ASV initiatives” which improves our execution capabilities and continue to take on the challenge of ambitious “ASV indicators.” Some uncertainties are expected. Nevertheless, we will work in unison as the Group and with excitement to a
Slide 11: 8. 2030 ASV Indicators
8. ASV Indicators 8. 2030 ASV Indicators We are focused on the steady achievement of our FY26 forecast toward the attainment of the 2030 ASV targets. FY26 FY30 Ref.: Aim for FY23 FY24 FY25 plan 3x EPS Revised Forecast approx. Approx. Approx. (vs. FY2022） ROE 11.0% 9.0% 17.7% 16% 20% (Excluding the i
Slide 12: 9-1. Seasonings & Foods
9. Core Business Strategies Sales of Seasonings & Foods： 9-1. Seasonings & Foods ¥936.9 B yen（FY25） Japan: Sales ¥311.5 B（FY25） Overseas: Sales ¥625.3 B（FY25） Home use Sales composition of area ・Mainly in Asia, (overseas) ・Seasonings Europe, Brazil, etc. 7％ AJI-NO-MOTO®,Hondashi®, 23％ Asia (excl. Ja
Slide 13: 9-1. Seasonings & Foods
9. Core Business Strategies 9-1. Seasonings & Foods Toward regrowth Expansion of Slowing growth in through high emerging markets emerging markets value-added (%) 210 Sales 180 EMEA 3% 150 Americas 12% 120 Japan 90 30% (%) 270 Business Profit Asia 55% 210 150 Sauce & Seasonings and Quick Nourishment
Slide 14: 9-1. Seasonings & Foods
9. Core Business Strategies 9-1. Seasonings & Foods Achieve steady organic growth through strengthening products tailored to local food cultures, increasing added value (unit price growth), and expanding the product range of reduced-salt products and health value-added products. FY26 Forecast organi
Slide 15: 9-2. Frozen Foods
9. Core Business Strategies Frozen Foods Sales： 9-2. Frozen Foods ¥290.3 B (FY25） Japan: Sales ¥ 87.4 B（FY25） Overseas: Sales ¥ 202.8 B（FY25） Home use Sales composition of area ・Mainly in Gyoza 5％ (overseas) North America, “ザ★®(THE)” brand 10％ Yawaraka Wakadori Kara-Age Europe, Asia, Americas (fried
Slide 16: 9-2. Frozen Foods
9. Core Business Strategies 9-2. Frozen Foods M&A Sales mainly in From Structural Japan in North America Japan Reform to Growth and Europe (%) 270 Sales 210 North America 150 90 (%) Business Profit 230 180 Europe 130 80 30 * % with FY11 as 100 * Business profit does not take into account common expe
Slide 17: 9-2. Frozen Foods: Growth in the Asian Category
9. Core Business Strategies 9-2. Frozen Foods : Growth in the Asian Category Focus on core categories (especially the Asian category) Expansion of the Asian category is expected to continue. Share of market for Asian category Local currency basis CAGR Asian Launch of Japanese-style gyoza (Hane Gyoza
Slide 18: 9-3. Healthcare and Others
9. Core Business Strategies Sales of Healthcare and Others : 9-3. Healthcare and Others ￥341.5 B (FY25） Electronic materials and others: Amino acids for pharmaceuticals and foods : Sales ¥ 100.7 B（FY25） Sales Approx. ¥ 63.0 B（FY25） Ajinomoto Build-Up FilmTM (ABFTM) : ・Infusions A film-type insulatin
Slide 19: 9-3. Healthcare and Others
9. Core Business Strategies 9-3. Healthcare and Others Restructuring commoditized Animal Nutrition and ・The structural reform businesses and Domestic Pharmaceutical was completed concentrate on highly Businesses Commoditized ・Highly profitable (%) profitable businesses 210 180 Functional Materials O
Slide 20: 9-3. What is Ajinomoto Build-up Film (ABF)?
9. Core Business Strategies 9-3. Healthcare and Others : What is Ajinomoto Build-up FilmTM (ABFTM)? IC chip Film-type insulation material protecting the core components in personal computers Motherboard Semiconductor packaging substrate Cross-section of packaging substrate Semiconductor IC chip pack
Slide 21: 9-3. Larger and more multilayer package substrates and increased ABF usage
9. Core Business Strategies 9-3. Healthcare and Others : Larger and more multilayer package substrates and increased ABFTM usage per substrate We continue to evolve ABFTM, achieving performance in step with the technological evolution of package substrates. Package substrates are expected to become
Slide 22: 9-3. Bio-Pharma Services business (CDMO)
9. Core Business Strategies 9-3. Healthcare and Others : Bio-Pharma Services business (CDMO) Grow the Bio-Pharma business through Ajinomoto Group’s proprietary manufacturing technology and solution development capabilities that address the API demand, performance, quality, and development speed nece
Slide 23: 9-3. Features of Ajinomoto's Oligonucleotide Contract Business
9. Core Business Strategies 9-3. Healthcare and Others : Features of Ajinomoto’s Oligonucleotide Contract Business Only CDMO company using AJIPHASE®, a proprietary liquid-phase manufacturing technology, in addition to solid-phase manufacturing technology Solid-phase synthesis (Osaka) AJIPHASE® Fast
Slide 24: 9-3. Issues in ADC Design and the Value of Our Unique Technology
9. Core Business Strategies 9-3. Healthcare and Others : Issues in ADC Design and the Value of Our Unique Technology is a breakthrough technology enabling easy creation of site-specific ADCs with high efficacy and low toxicity Conventional ADCs Site-specific ADCs Mixture: anticancer drug bound to di
Slide 25: 10. Financial strategy: Shareholder Returns and Investment for Growth
10. Financial strategy Shareholder Returns and Investment for Growth We will strengthen our capability to generate cash flow, premised on business growth. We will enhance shareholder returns and increase our corporate value while making necessary future- oriented investments. Operating cash flow FY2
Slide 26: 10. Financial strategy: Shareholder Returns
10. Financial strategy Shareholder Returns In FY2026, too, we plan to increase our dividend under our progressive dividend policy. We are now engaged in the repurchase of up to ¥80 billion in shares, as announced on November 6, 2025. We will continue working to enhance shareholder returns wit h the
Slide 27: Continuous strengthening of shareholder returns
10. Financial strategy Continuous strengthening of shareholder returns We will strengthen shareholder returns by introducing a progressive dividend policy, adopting dividends based on normalized EPS, and continuing dynamic share buybacks. FY20–25 MTP Shareholder Shareholder Return Policy Going Forwa
Slide 28: 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 29: Reference Links
Reference Links Ajinomoto Group IR https://www.ajinomoto.co.jp/company/en/ir/ Ajinomoto Group ASV Report (Integrated Report) https://www.ajinomoto.co.jp/company/en/ir/library/annual.html Medium-Term ASV Initiatives 2030 Roadmap https://www.ajinomoto.co.jp/company/en/ir/event/medium_term.html Ajinomo
Slide 30: (Reference) 2030 ASV indicators | Social value
(Reference) 2030 ASV indicators | Social value We will contribute to extending the healthy life expectancy for one billion people by promoting initiatives based on the “Nutrition Without Compromise” approach. Initiatives for advancing our approach of nutrition without compromise (Commitment to Nutri
Slide 31: (Reference) 2030 ASV indicators | Social value
(Reference) 2030 ASV indicators | Social value We are working to reduce our environmental impact by 50% by 2030 and to achieve carbon neutrality by 2050. Issues KPIs Targets FY25 (Results) Scope 1, 2 Total FY30：Reduced by 50％ (vs. FY18) 49％ reduction Greenhouse gas Response to Scope 3 Total FY30：Red
Slide 32: (Reference) What Are Amino Acids?
(Reference) What Are Amino Acids? About 20% Lipids The 20 Types of Amino Acids and Saccharides That Make Up Proteins Approx. 100,000 Isoleucine Glycine About 20% types of proteins Leucine Alanine Proteins Lysine Serine Methionine Aspartate Phenylalanine Asparagine About 60% Water Threonine Glutamate
Slide 33: (Reference) Raw materials and Production Method
(Reference) Raw materials and Production Method Production process of glutamic acid by fermentation ● ● ● Glucose and glutamic acid producing microbe ● ● ● are key substances to produce glutamic acid Glucose by fermentation. Sugar cane Molasses (a kind of sugar) in molasses extracted from sugar cane