Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q1 FY2024 Earnings Presentation

28 slides from Meiji's earnings presentation, Aug 9, 2024

  1. Slide 1: Financial Results for the Q1 of FYE March 2025 (FY2024)

    Financial Results for the Q1 of FYE March 2025 (FY2024) (From April 1, 2024 to June 30, 2024) August 9, 2024 0 © Meiji Holdings Co., Ltd. All rights reserved.

  2. Slide 2: Summary for Q1 FY2024 Consolidated Results

    Summary for Q1 FY2024 Consolidated Results (JPY bn) FY2023 FY2024 FY2024 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +6.1% Net sales 262.7 278.7 +15.9 49.6% 561.5 +5.1% Operating profit 19.4 20.4 +1.0 56.9% 36.0 Op. profit margin 7.4% 7.4% -0.1 pt ― 6.4% Profit attributable to +20.3% 11.5 1

  3. Slide 3: Food: Summary – Q1 FY2024

    Food: Summary – Q1 FY2024 （JPY bn） FY2023 FY2024 FY2024 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +3.3% Net sales 218.7 225.9 +7.2 49.8% 453.3 -11.0% Operating profit 15.2 13.5 -1.6 45.1% 30.0 Analysis of changes in operating profit Q1 Results - FY2023 15.2 : Increased due to price increa

  4. Slide 4: Food: Analysis of Operating Profit – Q1 FY2024

    Food: Analysis of Operating Profit – Q1 FY2024 (JPY bn) Segment Food Dairy Chocolate Nutrition Other Total solutions Q1 Operating Profit – FY2023 15.2 5.2 3.2 3.8 2.5 0.4 Due to increased/decreased sales +3.4 +1.0 +0.4 +0.5 +1.5 +0.1 Changes in COGS -2.3 -1.2 -1.0 +0.7 -0.9 +0.1 Changes in other SG&

  5. Slide 5: Food: Q1 FY2024 Results by business (Dairy)

    Food: Q1 FY2024 Results by business  Dairy  Sales by main category* (JPY bn) FY2024 Q1 Results FY2024 Q1 YoY Change Net sales YoY changes -0.0% Net sales 67.2 -0.0 Functional yogurt -5.7% -5.9% Operating profit 4.8 -0.3 Yogurt -0.6%  Market size in Japan (Q1) Drinking milk +5.3% • Yogurt: Largely

  6. Slide 6: Food: Q1 FY2024 Results by business (Chocolate, Nutrition)

    Food: Q1 FY2024 Results by business  Chocolate  Nutrition (JPY bn) (JPY bn) FY2024 FY2024 Q1 Results YoY Change Q1 Results YoY Change +7.1% +11.0% Net sales 37.3 +2.4 Net sales 30.5 +3.0 -29.2% +10.3% Operating profit 2.2 -0.9 Operating profit 4.1 +0.3  Market size in Japan (Q1)  Market size in

  7. Slide 7: Food: Q1 FY2024 Results by business (Food Solution, Others)

    Food: Q1 FY2024 Results by business  Food Solution  Others (JPY bn) (JPY bn) FY2024 FY2024 Q1 Results YoY Change Q1 Results YoY Change +2.0% +2.0% Net sales 48.1 +0.9 Net sales 42.6 +0.8 -36.4% +29.8% Operating profit 1.6 -0.9 Operating profit 0.5 +0.1  Net sales  Net sales • BtoB: Increased • I

  8. Slide 8: Food: Q1 FY2024 Results by business (Overseas)

    Food: Q1 FY2024 Results by business  China  Overseas • Drinking milk and yogurt for the consumer market - Decreased both in sales and profit: Narrowed down sales (JPY bn) destinations for the execution of the revival plan FY2023 FY2024 FY2024 • Drinking milk and cream for the commercial market Q1

  9. Slide 9: Pharmaceutical: Summary – Q1 FY2024

    Pharmaceutical: Summary – Q1 FY2024 （JPY bn） FY2023 FY2024 FY2024 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan +19.8% Net sales 44.1 52.9 +8.7 48.7% 108.6 +61.2% Operating profit 4.6 7.4 +2.8 87.0% 8.5 Analysis of changes in operating profit Q1 Results - FY2023 4.6 Due to increased/decreased

  10. Slide 10: Status of Approval Applications for the Self-amplifying mRNA Vaccine

    Pharmaceutical: Q1 FY2024 Status of Approval Applications for the Self-amplifying mRNA Vaccine On May 31, we applied for approval of partial change ahead of the launch to market for our vaccine targeting the 2024/2025 season infectious strain (JN.1) 2023 2024 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 1

  11. Slide 11: Outlook for FY2024 (No revisions)

    Outlook for FY2024 (No revisions) (JPY bn) FY2023 Results FY2024 Plan H1 Full-year H1 YoY Change Full-year YoY Change +2.8% +4.8% Net sales 546.0 1,105.4 561.5 +15.4 1,159.0 +53.5 -19.0% +2.0% Operating profit 44.4 84.3 36.0 -8.4 86.0 +1.6 Op. profit margin 8.1% 7.6% 6.4% -1.7 pt 7.4% -0.2 pt -24.8%

  12. Slide 12: Appendices

    Appendices 11 © Meiji Holdings Co., Ltd. All rights reserved.

  13. Slide 13: Consolidated Financial Results for Q1 FY2024

    Consolidated Financial Results for Q1 FY2024 (JPY bn) FY2024 Q1 Result YoY Change Main factors for the change +6.1% Net sales 278.7 +15.9 ― Details on page 1-2 and 8 +5.1% Operating profit 20.4 +1.0 ― Details on page 1-2 and 8 +5.3% Non-operating profit 1.4 +0.0 - Foreign exchange gains (+0.1) - Div

  14. Slide 14: Financial Position as of June 2024

    Financial Position as of June 2024 (JPY bn) Results as of Jun. 2024 Change Main Factors for Change -1.1% - Cash and deposits (-15.9) Current assets 556.6 -6.3 - Merchandise and finished goods (+9.0) +0.6% - Machinery, equipment and vehicles, net (+2.7) Non-current assets 646.0 +3.7 - Buildings and s

  15. Slide 15: Consolidated Cash Flows for Q1 FY2024

    Consolidated Cash Flows for Q1 FY2024 (JPY bn) FY2024 Q1 Results YoY Change Main Factors for Change - Decrease in trade payables (-5.9) Cash flows from operating - Increase in inventories (-4.8) -19.4 -21.8 activities - Income taxes paid (-3.0) - Gain on sale of investment securities (-2.7) Cash flo

  16. Slide 16: Analysis of Consolidated Operating Profit – Q1 FY2024

    Analysis of Consolidated Operating Profit – Q1 FY2024 （JPY bn） Consolidated Operating Profit Food Pharma Other Q1 Results - FY2023 19.4 15.2 4.6 -0.3 Due to increased/decreased *1 +3.4 +0.8 ― sales +4.2 Impact of drug price revision +0.4 ― +0.4 ― *2 -2.3 +0.2 ― Changes in costs of goods sold -2.1 Ch

  17. Slide 17: Food: Net Sales and Op. Profit by Business

    Food: Net Sales and Op. Profit by Business (JPY bn) FY2023 FY2024 FY2024 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan -0.0％ Net sales 67.3 67.2 -0.0 49.2％ 136.7 Dairy -5.9% Op. profit 5.2 4.8 -0.3 43.8% 11.1 +7.1％ Net sales 34.8 37.3 +2.4 52.8% 70.7 Chocolate -29.2% Op. profit 3.2 2.2 -0.9 7

  18. Slide 18: Food: Sales by Main Product for Q1 FY2024

    Food: Sales by Main Product for Q1 FY2024 (JPY bn) FY2023 FY2024 FY2024 Q1 Results Q1 Results YoY Change vs. H1 Plan H1 Plan Yogurt 19.7 19.6 -0.6% 49.7% 39.4 Functional yogurt 23.9 22.6 -5.7% 47.4% 47.5 Cheese 7.2 6.6 -8.5% 50.1% 13.2 Chocolate 21.3 23.1 +8.8% 54.3% 42.6 Infant formula and enteral

  19. Slide 19: Food: Strategies to Overcome Cost Increase

    Food: Strategies to Overcome Cost Increase  Price Increases in FY2023 and FY2024 (JPY bn) Effects on operating profit 15.0 Chocolate and gummy +5 to +10% Price increase + decrease in product amount Yogurt +4 to +6% Functional Yogurt +4% Apr. 2023 10.0 Cheese +6 to +13% SAVAS (powder) +4 to +5% SAVA

  20. Slide 20: Market Prices of Main Raw Materials Imported

    Market Prices of Main Raw Materials Imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 4,000 5,000 4,000 3,000 3,000 2,000 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 19 © Meiji Holdings Co., Ltd. All rights reserved. Source: Bloomber

  21. Slide 21: Pharmaceutical: Analysis of Operating Profit – Q1 FY2024

    Pharmaceutical: Analysis of Operating Profit – Q1 FY2024 (JPY bn) Domestic Overseas Vaccines and Segment Total pharmaceuticals pharmaceuticals Veterinary drugs (Japan) Q1 Operating Profit – FY2023 4.6 3.9 1.7 -1.0 Due to increased/decreased sales +0.8 +1.0 +0.2 -0.4 Impact of drug price revision +0.

  22. Slide 22: Pharmaceutical: Net Sales and Op. Profit by Business

    Pharmaceutical: Net Sales and Op. Profit by Business (JPY bn) FY2023 FY2024 FY2024 YoY Q1 Results Q1 Results vs. H1 Plan H1 Plan Change +15.7% Domestic Net sales 24.5 28.4 +3.8 53.6％ 53.1 pharmaceuticals +53.9% (Japan) Op. profit 3.9 6.1 +2.1 84.0% 7.3 +40.4% Net sales 13.2 18.6 58.5% 31.9 Overseas

  23. Slide 23: Pharmaceutical: Q1 FY2024 Results by business

    Pharmaceutical: Q1 FY2024 Results by business  Domestic pharmaceuticals (Japan)  Overseas pharmaceuticals (JPY bn) (JPY bn) FY2024 FY2024 Q1 Results YoY Change Q1 Results YoY Change +15.7% +40.4% Net sales 28.4 +3.8 Net sales 18.6 +5.3 +53.9% +76.4% Operating profit 6.1 +2.1 Operating profit 3.0 +

  24. Slide 24: Pharmaceutical: Q1 FY2024 Results by business (Vaccines and Veterinary)

    Pharmaceutical: Q1 FY2024 Results by business  Vaccines and Veterinary drugs (JPY bn) FY2024 Q1 Results YoY Change -7.9% Net sales 5.8 -0.5 － Operating profit -1.7 -0.6  Net sales • Decreased in sales of four-in-one combination vaccine • Contract revenues accrued in the previous period but not acc

  25. Slide 25: Pharmaceutical: R&D Pipeline - Infectious and others

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

  26. Slide 26: Pharmaceutical: R&D Pipeline - Vaccine

    Pharmaceutical: R&D Pipeline - 2 Code No. Efficacy Classification Target Disease Stage (Generic Name) Pentavalent vaccine against diphtheria, Launched (Japan), tetanus, pertussis, poliovirus, and KD-370 Vaccine Product name: Quintovac Aqueous Suspension Injection Haemophilus influenzae type b (Five-

  27. Slide 27: Pharmaceutical: R&D Pipeline - Veterinary Drugs

    Pharmaceutical: R&D Pipeline - 3 Code No. Efficacy Classification Stage Launched (Japan), Product name: FORCYL ME4137 Injectable antibacterial drug for cattle (Launched on May 27, 2024) ME4137 Injectable antibacterial drug for swine Filed (Japan) Veterinary Drugs KD-412* Vaccine for cattle Filed (Ja

  28. Slide 28: 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

Meiji Holdings — Q1 FY2024 Earnings Presentation on 6ix