Ajinomoto Co., Inc. · TSE:2802
Ajinomoto — H1 FY2014 Earnings Presentation
17 slides from Ajinomoto's earnings presentation, Nov 10, 2014
Slide 1: Consolidated Results First Half of the FY Ending March 31, 2015
Consolidated Results First Half of the FY Ending March 31, 2015 (Interim FY2014) 1. Overview 2. Financial Position 3. Segment Information November 10, 2014 Hiromichi Oono Member of the Board and Corporate Vice President Ajinomoto Co., Inc. Copyright © 2014 Ajinomoto Co., Inc. All rights reserved.
Slide 2: 1. (1) Overview of Results
1. (1) Overview of Results (¥ Billion) YoY FY2014 Interim Progress YoY Change Interim Change (Revised FY2014 July-Sept. July-Sept. FY2013 Forecast) (A) Amount % (A)/(B) 2014 2013 Amount % (B) Net sales 467.6 468.9 -1.3 0% 1,008.0 46% 240.0 235.2 4.8 2% Domestic Food Products 147.3 144.3 3.0 2% 312.3
Slide 3: 1. (2) Comments on Results for Interim FY2014
1. (2) Comments on Results for Interim FY2014 Net sales remained almost at the level of the previous first half year because of growth in sales of Overseas Food Products and Domestic Food Products, despite impact of spin-off of infusion and dialysis business units in Pharmaceuticals and decrease in
Slide 4: 1. (3) Comments on Results for Interim FY2014
1. (3) Comments on Results for Interim FY2014 Ordinary income (¥ Billion) Interim YoY July-Sept. YoY < Interim FY2014 > ( )= YoY change Progress FY2014 Change 2014 Change None Non-operating 3.3 - -1% 1.2 -19% < Q2-FY2014 > ( )=YoY change income (net) None 31.9 43% -4% Ordinary income 16.4 3% Net inc
Slide 5: 2. Financial Position
2. Financial Position (¥ Billion) Sept. 30, 2014: Total assets 1,111.8 ¥18.6 billion increase in total assets from March 31, 2014 *Increase in yen values of the balance sheets of overseas Current Liabilities subsidiaries after currency translation assets 422.7 558.2 Net Cash Flow (¥ Billion) assets
Slide 6: 3. (1) Change by Business Segment
3. (1) Change by Business Segment Net sales (¥ Billion) 468.9 Apr.-Sept. 2013 Domestic Food Products +3.0 Effect of Overseas Food Products Currency Translation +9.1 Bioscience Products & Fine Chemicals Overseas Food -3.4 Products: +0.1 Pharmaceuticals Bioscience Products & -9.1 Fine Chemicals: +3.4
Slide 7: 3. (2) Domestic Food Products
3. (2) Domestic Food Products (¥ Billion) <Reference> Interim Progress Interim YoY July-Sept. July-Sept. YoY FY2014 FY2013 Change 2014 2013 Change 147.3 47% 144.3 3.0 Net sales 76.3 74.1 2.2 92.7 - 92.2 0.5 *1 Seasonings & processed foods 48.4 47.3 1.1 54.6 - 52.1 2.5 *2 Frozen foods 27.9 26.8 1.1 1
Slide 8: 3. (3) Overseas Food Products
3. (3) Overseas Food Products (¥ Billion) <Reference> Interim Progress Interim YoY July-Sept. July-Sept. YoY FY2014 FY2013 Change 2014 2013 Change 153.1 48% 144.1 9.1 Net sales 78.8 72.7 6.1 128.0 47% 118.9 9.1 *1 Consumer foods 66.1 60.8 5.3 Umami seasonings for 25.1 50% 25.2 0.0 *2 processed food
Slide 9: 3. (4) Bioscience Products & Fine Chemicals
3. (4) Bioscience Products & Fine Chemicals <Reference> (¥ Billion) Interim Progress Interim YoY July-Sept. July-Sept. YoY FY2014 FY2013 Change 2014 2013 Change 108.3 45% 111.6 -3.4 Net sales 55.1 56.6 -1.5 43.9 43% 47.5 -3.5 *1 Feed-use amino acids 22.9 23.8 -0.9 41.1 - 39.2 1.9 *2 Amino acids 20.6
Slide 10: 3. (5) Pharmaceuticals
3. (5) Pharmaceuticals <Reference> (¥ Billion) Interim Progress Interim YoY July-Sept. July-Sept. YoY FY2014 FY2013 Change 2014 2013 Change 18.8 43% 27.9 -9.1 *1 Net sales 9.4 11.1 -1.8 0.2 7% 1.5 -1.3 *2 Operating income 0.0 1.1 -1.1 -0.7 42% -0.8 0.1 Shared companywide expenses -0.3 -0.3 0.0 *1 De
Slide 11: 3. (6) Other Business
3. (6) Other Business (¥ Billion) <Reference> Interim Progress Interim YoY July-Sept. July-Sept. YoY FY2014 FY2013 Change 2014 2013 Change 40.1 44% 41.0 -0.9 *1 Net sales 20.4 20.6 -0.2 1.0 - 1.1 -0.1 Edible oils & coffee products 0.5 0.6 -0.1 -0.8 323% 0.2 -0.9 *2 Operating income -0.4 0.1 -0.5 0.9
Slide 12: 3. (7) Net Sales by Business & Geographical Area
3. (7) Net Sales by Business & Geographical Area Upper row: Interim FY2014; Iower row: Interim FY2013. Figures in parentheses represent YoY change. (¥ Billion) Japan Asia Americas Europe Total Domestic Food 135.5 (0.7) 2.9 (0.0) 6.9 (1.2) 1.9 (1.1) 147.3 (3.0) Products 134.9 2.9 5.7 0.8 144.3 Overse
Slide 13: 3. (8) Operating Income by Business & Geographical Area
3. (8) Operating Income by Business & Geographical Area Upper row: Interim FY2014; Iower row: Interim FY2013. Figures in parentheses represent YoY change. (¥ Billion) * Japan Asia Americas Europe Other Total Domestic Food 12.2 (-0.8) 0.9 (-0.2) 0.7 (0.0) 0.3 (0.1) -3.9 (-0.4) 10.1 (-1.3) Products 13
Slide 14: 3. (9) Comments on Operating Income by Business & Geographical Area
3. (9) Comments on Operating Income by Business & Geographical Area Interim FY2014 Change Compared with Same Period of Previous Year 1. Overseas Food Products (¥ Billion) [YoY change] Japan +0.3; Asia +3.2; Americas +0.5; Europe +0.1; Other* -0.5; Total +3.6 Asia: Increase due to higher sales of con
Slide 15: (Reference) Interim FY2014 Trends in Overseas Consumer Food Products
(Reference) Interim FY2014 Trends in Overseas Consumer Food Products Net sales by product Net sales by region Other North 1% America Europe Other processed 1% 6% foods South 15% America Beverages AJ-NO- 16% FY2014/1H MOTO® FY2014/1H 9% ¥128.0 ¥128.0 39% billion billion Asia Other 77% seasonings 36%
Slide 16: (Reference) Feed-Use Lysine Market Price and CBOT Spread Trend
(Reference) Feed-Use Lysine Market Price and CBOT Spread* Trend *The spread is the price difference between soybean meal and corn on the Chicago Board of Trade (CBOT). (USD/kg, CIF) (USD/ST） 3.0 Feed-Use Lysine Market Price(USD/kg) & CBOT Spread（USD/ST) 320 2.5 270 Spread 220 2.0 170 1.5 120 1.0 Lys
Slide 17: Forward-looking statements disclaimer
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 and do not represent a commitment from Ajinomoto Co., Inc. that they will be achieved. A number of factors could ca