Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q3 FY2023 Earnings Presentation

26 slides from Meiji's earnings presentation, Feb 8, 2024

  1. Slide 1: Financial Results for the Q1-Q3 of FYE March 2024 (FY2023)

    Financial Results for the Q1-Q3 of FYE March 2024 (FY2023) (From April 1, 2023 to December 31, 2023) February 8, 2024 (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 beg

  2. Slide 2: Summary for Q1-Q3 FY2023 Consolidated Results

    Summary for Q1-Q3 FY2023 Consolidated Results (JPY bn) FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 YoY Change Plan Results Results Plan +4.4% Net sales 798.0 833.0 +34.9 75.8% 1,098.5 +7.7% Operating profit 64.7 69.7 +4.9 87.1% 80.0 Op. profit margin 8.1% 8.4% +0.3 pt ― 7.3% Profit attributable to -

  3. Slide 3: Food: Summary – Q1-Q3 FY2023

    Food: Summary – Q1-Q3 FY2023 （JPY bn） FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 YoY Change Plan Results Results Plan +4.5% Net sales 649.9 679.4 +29.5 76.3% 891.1 +7.8% Operating profit 45.1 48.6 +3.5 79.8% 61.0 Analysis of changes in operating profit Q1-Q3 Results - FY2022 45.1 : Increased due to

  4. Slide 4: Food: Strategies to Overcome Cost Increase

    Food: Strategies to Overcome Cost Increase Effects on operating profit Price Hikes in FY2023 (JPY bn) Mar. 2023 Ice cream +4 to +9% 35.0 Price hike + decrease in product amount Chocolate and gummy +5 to +10% 25.0 Yogurt +4 to +6% Functional Yogurt +4% Apr. 2023 15.0 +30.4 +30.0 Cheese +6 to +13% SAV

  5. Slide 5: Food: Analysis of Operating Profit by Business – Q1-Q3 FY2023

    Food: Analysis of Operating Profit by Business – Q1-Q3 FY2023 (JPY bn) Frozen Other/ Segment Yogurt ＆ Chocolate & Nutrition Drinking milk B to B dessert & Overseas domestic Total Cheese gummy ready meal subsidiaries Q1-Q3 Operating Profit – FY2022 45.1 16.9 12.8 8.8 -1.7 2.2 3.1 -0.2 3.0 Due to incr

  6. Slide 6: Food: Q1-Q3 FY2023 Results by Business -1

    Food: Q1-Q3 FY2023 Results by Business -1  Yogurt and Cheese Sales of FY2023 Q1-Q3 (JPY bn) FY2023 YoY Change Q1-Q3 YoY Change Functional yogurt +1.5% Results Yogurt -1.8% Meiji Bulgaria Yogurt LB81 Plain (400g) +1.2% Net sales 153.3 +1.8 +1.9% Cheese +3.4% +10.1% Op. Profit 18.6 +1.7 Meiji Bulgari

  7. Slide 7: Food: Q1-Q3 FY2023 Results by Business -2

    Food: Q1-Q3 FY2023 Results by Business -2  Nutrition  Chocolate and Gummy (JPY bn) (JPY bn) FY2023 FY2023 Q1-Q3 Q1-Q3 Results YoY Change Results YoY Change +7.7% +1.0% Net sales 97.6 +6.9 Net sales 75.9 +0.7 +13.1% -2.2% Op. Profit 14.5 +1.6 Op. Profit 8.6 -0.1  Market size (Q1-Q3)  Market size

  8. Slide 8: Pharmaceutical: Summary – Q1-Q3 FY2023

    Pharmaceutical: Summary – Q1-Q3 FY2023 （JPY bn） FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 YoY Change Plan Results Results Plan +3.6% Net sales 148.7 154.0 +5.3 74.0% 208.1 +8.4% Operating profit 21.0 22.8 +1.7 103.6% 22.0 Analysis of changes in operating profit Q1-Q3 Results - FY2022 21.0 Due to i

  9. Slide 9: Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2023

    Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2023 (JPY bn) Domestic ethical Overseas ethical Segment Total Human Vaccine Veterinary drug pharmaceuticals pharmaceuticals Q1-Q3 Operating Profit – FY2022 21.0 9.3 6.2 4.2 1.1 Due to increased/decreased sales +1.4 +1.7 -0.3 +0.1 ― Impact of dru

  10. Slide 10: Outlook for FY2023: No Revision

    Outlook for FY2023: No Revision (JPY bn) FY2022 FY2023 Full-year Full-year Plan YoY Change Results +3.4% Net sales 1,062.1 1,098.5 +36.3 +6.1% Operating profit 75.4 80.0 +4.6 Op. profit margin 7.1% 7.3% +0.2 pt -26.5% Profit attributable to owners of parent 69.4 51.0 -18.4 EPS (JPY) 247.39 182.89 -6

  11. Slide 11: Appendices

    Appendices 10 © Meiji Holdings Co., Ltd. All rights reserved.

  12. Slide 12: Consolidated Financial Results – Q1-Q3 FY2023

    Consolidated Financial Results – Q1-Q3 FY2023 (JPY bn) FY2023 Q1-Q3 Results YoY Change Main factors for the change +4.4% Net sales 833.0 +34.9 ― Details on page 1-2, page 7 +7.7% Operating profit 69.7 +4.9 ― Details on page 1-2, page 7 -32.7% - Share of profit of entities accounted for using equity

  13. Slide 13: Financial Position as of December 2023

    Financial Position as of December 2023 (JPY bn) Results as of Dec. 2023 Change Main Factors for Change +18.7% - Notes and accounts receivable-trade (+49.2) Current assets 558.9 +88.0 - Cash and deposits (+28.7) +1.8% - Buildings and structures, net (+15.7) - Land (+7.3) Non-current assets 676.9 +11.

  14. Slide 14: Consolidated Cash Flows for Q1-Q3 FY2023

    Consolidated Cash Flows for Q1-Q3 FY2023 (JPY bn) FY2023 Q1-Q3 Results YoY Change Main Factors for Change Cash flows from operating - Change in inventories (+13.3) 64.5 +27.8 activities - Income taxes paid (+12.4) Cash flows from investing -29.4 +12.3 - Purchase of property, plant and equipment (+11

  15. Slide 15: Analysis of Consolidated Operating Profit – Q1-Q3 FY2023

    Analysis of Consolidated Operating Profit – Q1-Q3 FY2023 （JPY bn） Consolidated Operating Profit Food Pharma Other Q1-Q3 Results - FY2022 64.7 45.1 21.0 -1.4 Due to increased/decreased +27.1 +1.4 ― sales +28.5 *1 Impact of drug price revision -2.5 ― -2.5 ― Changes in costs of goods sold -22.4 *2 -21.

  16. Slide 16: Food: Net sales and Op. Profit by Business

    Food: Net sales and Op. Profit by Business (JPY bn) FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 YoY Change Full-year Full-year Plan YoY Change Results Results Plan +1.2% +1.1% Net sales 151.5 153.3 +1.8 74.9% 204.7 +2.1 Yogurt & cheese +10.1% +7.6% Op. profit 16.9 18.6 +1.7 71.8% 25.9 +1.8 +7.7% +7.

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

    Food: Net sales and Op. Profit by Business (JPY bn) FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 YoY Change Full-year Full-year Plan YoY Change Results Results Plan +6.0% +4.6% Net sales 45.6 48.3 +2.7 79.8% 60.6 +2.6 Frozen dessert& ready meal +15.9% +19.1% Op. profit 3.1 3.6 +0.5 94.4% 3.8 +0.6 +12

  18. Slide 18: Food: Sales by Main Product for FY2023

    Food: Sales by Main Product for FY2023 (JPY bn) FY2022 FY2023 FY2023 Q1-Q3 Q1-Q3 vs. FY2023 Full-year Results Results YoY Change Full-year Plan YoY Change Plan Yogurt 58.0 57.0 -1.8% 74.9% 76.1 +0.0% Functional yogurt 70.2 71.2 +1.5% 73.2% 97.3 +2.0% Cheese 21.3 22.0 +3.4% 77.0% 28.6 +1.5% Chocolate

  19. Slide 19: Food: Q1-Q3 FY2023 Results by Business - Overseas

    Food: Q1-Q3 FY2023 Results by Business - Overseas  Overseas Business Sales by Region (JPY bn) 78.2 Local (JPY bn) currency FY2023 68.5 4.0 （YoY） Q1-Q3 Export/Elimination 56.0 4.0 YoY Change +10% Results 49.9 1.7 32.4 US & Europe 27.7 3.5 +15% +12.3% SE Asia 23.3 +10% Net sales 56.0 +6.1 19.6 +14% 1

  20. Slide 20: 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 4,500 30 4,000 25 3,500 3,000 20 2,500 15 2,000 1,500 10 1,000 5 500 0 0 19 © Meiji Holdings Co., Ltd. All rights reserv

  21. Slide 21: Pharmaceutical: Net sales and Op. Profit by Business

    Pharmaceutical: Net sales and Op. Profit by Business (JPY bn) FY2022 FY2023 vs. FY2023 FY2023 Q1-Q3 Q1-Q3 YoY Change Full-year Full-year Plan YoY Change Results Results Plan +6.4% +4.1% Net sales 73.5 78.2 +4.7 75.0% 104.3 +4.1 Domestic ethical pharmaceuticals -4.1% -18.0% Op. profit 9.3 8.9 -0.3 10

  22. Slide 22: Pharmaceutical: Q1-Q3 FY2023 Results by Business

    Pharmaceutical: Q1-Q3 FY2023 Results by Business  Domestic ethical pharmaceuticals  Human vaccine (JPY bn) FY2023 (JPY bn) FY2023 Q1-Q3 Q1-Q3 Results YoY Change YoY Change Results +6.4% -2.5% Net sales 78.2 +4.7 Net sales 27.4 -0.7 -4.1% +37.2% Operating profit 8.9 -0.3 Operating profit 5.8 +1.5 

  23. Slide 23: Pharmaceutical: R&D Pipeline - Infectious disease / New fields

    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 ME3208 (Belumosudil) ROCK2 inhibitor Chronic Graft Vers

  24. Slide 24: Pharmaceutical: R&D Pipeline - Vaccine

    Pharmaceutical: R&D Pipeline - 2 Code No. Efficacy Classification Target Disease Stage (Generic Name) Pentavalent vaccine against diphtheria, KD-370 Vaccine tetanus, pertussis, poliovirus, and Approved (Japan) haemophilus influenza type b Self-amplifying mRNA vaccine against ARCT-154 Vaccine Approve

  25. Slide 25: Pharmaceutical: R&D Pipeline - Veterinary Drugs

    Pharmaceutical: R&D Pipeline - 3 Code No. Efficacy Classification Stage ME4137 Injectable antibacterial drug for cattle Filed (Japan) ME4137 Injectable antibacterial drug for swine Filed (Japan) KD-412* Vaccine for cattle Filed (Japan) Veterinary Drugs MD-22-3002 Anti-inflammatory drug for cattle, s

  26. Slide 26: 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

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