Ajinomoto Co., Inc. · TSE:2802
Ajinomoto — Q1 2026 Earnings Presentation
16 slides from Ajinomoto's earnings presentation, Aug 4, 2025
Slide 1: FY2025 Financial Results for Q1
Ajinomoto Co., Inc. (2802) FY2025 (ending March 31, 2026) Financial Results for Q1 Masataka Kaji Corporate Fellow General Manager, IR Office August 4, 2025 Note: Business profit (consolidated) in this material: Sales -Cost of sales -Selling expenses, Research & development expenses and General & adm
Slide 2: Today's Message
Today’s Message • Despite the effect of the sale of Ajinomoto Althea Inc., Q1-FY2025 sales were 103% of the previous year with currency translation excluded, while business profit was 112% of the previous year with currency translation excluded, double-digit growth. With the effect of price increase
Slide 3: I-1. Digest of the First Quarter (April - June)
I-1. Digest of the First Quarter (April - June) Profit attributable to owners of the Sales: Business profit: parent company: Level with the previous year Increased Increased ¥364.0 billion ¥47.2 billion ¥32.2 billion 99.6% of FY2024 109.7% of FY2024 134.4% of FY2024 Excluding currency translation: 1
Slide 4: I-2. Changes in Business Profit (Q1 Results by P&L Factor)
I-2. Changes in Business Profit (Q1 Results by P&L Factor) Increased GP from Investment in intangible (¥ bil.) an improved profit structure assets to bring growth 50 -2.3 0.8 6.2 Investment in marketing: Approx. +¥0.3 bil. -0.5 Investment in Increased international consumer R&D: Approx. +¥0.2 bil. 4
Slide 5: I-2. Changes in Business Profit (Q1 Results by Disclosed Segment)
I-2. Changes in Business Profit (Q1 Results by Disclosed Segment) (¥ bil.) 50 3.8 0.0 0.1 1.2 -1.1 47.2 43.0 30 Q1-FY24 Seasonings Frozen Foods Healthcare Other Shared Q1-FY25 Actual and Foods and Others companywide Actual expenses (Ref.) FY2025 Forecast vs. FY2024 Actual (¥ bil.) 200 17.0 0.0 5.0 1
Slide 6: I-2. Changes in Business Profit (Q1 Results by Disclosed Segment)
I-2. Changes in Business Profit (Q1 Results by Disclosed Segment) Reference: Factors behind changes when currency translation is excluded (¥ bil.) 50 4.0 0.0 0.1 2.1 -0.9 48.4 43.0 30 Q1-FY24 Seasonings Frozen Foods Healthcare Other Shared Q1-FY25 Actual and Foods and Others companywide Actual expen
Slide 7: I-3. Key Financial Results by Segment (1)
I-3. Key Financial Results by Segment (1) Segment/Area Business Overview, Q1-FY2025 Sauce and Seasonings and Quick Nourishment(excluding coffee) grew in both unit price and volume. Sales Coffee revenue grew due to the unit price growth under price increases. Overall, increased Japan revenue. Profit
Slide 8: I-3. Key Financial Results by Segment (2)
I-3. Key Financial Results by Segment (2) Segment/Area Business Overview, Q1-FY2025 Functional Revenue increased significantly in electronic materials due to firm demand for PCs and servers, Sales Materials as well as growth in AI applications. (electronic materials and Business Profit increased sig
Slide 9: II-1. Seasonings and Foods
II-1. Seasonings and Foods Breakdown of sales of Sauce and Seasonings and Quick Nourishment (Japan and overseas) FY2025 Forecast Japan sales: 107% Overseas sales: 109% (local currency basis) Volume 98% Unit prices 109% Volume 106% Unit prices 103% Q1-FY2025 Actual Japan sales: 109% Overseas sales: 1
Slide 10: II-2. Frozen Foods
II-2. Frozen Foods Start of new efforts to strengthen mainstay Gyoza (a radical strategic review of frozen foods in Japan is underway). Brand logo renewal Launch of new variety products (strengthening of intangible assets) Strengthening of connection between corporate brand AJINOMOTO® and Launch of
Slide 11: II-3. Healthcare and Others (Functional Materials)
II-3. Healthcare and Others (Functional Materials) Significant growth in revenue and profit continued (six consecutive quarters) under recovery and expansion in the semiconductor market. In Q1-FY2025, year-on-year revenue and business profit growth exceeded the forecast. Sales of Functional Material
Slide 12: II-3. Healthcare and Others Bio-Pharma Services (CDMO Services)
II-3. Healthcare and Others Bio-Pharma Services (CDMO Services) Revenue and profit increased in all three main existing business companies in Q1-FY2025. Business profit margin improved significantly for all of Bio-Pharma Services (sales: -¥1.2 billion; business profit: +¥2.9 billion). Q1-FY25 Region
Slide 13: Reference: Growth Paths by Segment
Reference: Growth Paths by Segment Segment Organic growth Business profit ROIC EBITDA margin (Vs. prev. year) (Vs. prev. year) FY24 Q1-FY25 FY25 FY24 Q1-FY25 FY25 FY24 FY25 FY24 Q1-FY25 FY25 Sauce & actual forecast actual forecast forecast actual forecast actual actual actual actual Seasonings Seaso
Slide 14: 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 15: Appendix Reference: Changes in Business Profit (Q1 Results by P&L Factor)
Appendix Reference: Changes in Business Profit (Q1 Results by P&L Factor) Factors behind changes when currency translation is excluded Increased GP from Investment in intangible (¥ bil.) an improved profit structure assets to bring growth 50 6.3 -5.6 0.8 4.0 Investment in marketing: Approx. -¥0.1 bi
Slide 16: Consolidated Statements of Income
Consolidated Statements of Income Excluding currency Cumulative Cumulative translation FY25 full-year Difference Vs. prev. year YTD progress (¥ Billion) Q1-FY25 Q1-FY24 (A) – (B) (A) / (B) Vs. prev. year forecast (A) / (C) (A) (B) (A) / (B) (C) Sales 364.0 365.5 -1.5 99% 102% 1,618.0 22% Business pr