Ajinomoto Co., Inc. · TSE:2802

Ajinomoto — Investor Presentation (June 2025)

35 slides from Ajinomoto's investor presentation, June 2025

  1. Slide 1: Ajinomoto Co., Inc. (2802)

    AJINOMOTO CO., INC（2802） (As of June. 2025) 1 Copyright © 2025 Ajinomoto Co., Inc. All rights reserved

  2. Slide 2: 1. Overview

    1. Overview Established year Business operation 1909 Number of factory 121 affiliated companies 117 in31countries and regions Number of employee Number of R&D 34,860 Over 1,700 (As of March 31, 2025) 2 Copyright © 2025 Ajinomoto Co., Inc. All rights reserved

  3. 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

  4. Slide 4: 3. Aspiration (Purpose)

    3. Aspiration (Purpose) Contributing to the well-being of all human beings, our society, and our planet with “AminoScience” 4 Copyright © 2025 Ajinomoto Co., Inc. All rights reserved

  5. 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

  6. 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 Film® (ABF) 6 Copyright © 2025 Ajinomoto Co., Inc. All rights reserved

  7. Slide 7: 6-1. Sales and Business Profit History

    6． Sales and Business Profit 6-1． Sales and Business Profit History Sales (%) Business Profit 260 15% (%) 160 Business Profit Margin (RHS) 240 220 140 200 10% 180 120 160 140 5% 100 120 100 80 80 0% • Sales / Business Profit (LHS）: % with FY11 as 100 • IFRS from FY15 Business profit FY11-FY14 show o

  8. Slide 8: 6-2. FY2024 Sales and Business Profit by Segments

    6． Sales and Business Profit 6-2． FY2024 Sales and Business Profit by Segments ＜Sales＞ Other 1% EMEA FY24 ¥1,530.5billion Healthcare ＆ 10% Japan Others 21% 34% Americas Frozen Foods Seasonings & Foods 27% 19% 59% Asia 29% ＜Business Profit＞ Other 3% EMEA FY24 Healthcare & Others Americas ¥159.3billio

  9. Slide 9: 7-1. Seasonings & Foods

    7. Core Business Strategies Sales of Seasonings & Foods ： 7-1. Seasonings & Foods ¥896.0 B yen（FY24） ●Japan ¥291.8 B yen（FY24） ●Overseas ¥604.1 B yen（FY24） Sales ratio of area ＜Home use：Japan＞ 7％ ・Seasonings ・Over 130 country & AJI-NO-MOTO®,Hondashi®, region 23％ （Thai,Indonesia, Vietnam, Consomme, C

  10. Slide 10: 7-1. Seasonings & Foods Sales and Business Profit

    7. Core Business Strategies 7-1. 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 29% (%) 240 Business Profit Asia 210 56% 180 150 120 90 Sauce & Seasonings and Quick N

  11. Slide 11: 7-1. Seasonings & Foods: Product range spread

    7. Core Business Strategies 7-1. Seasonings & Foods FY25 Forecast organic growth rate: 6.7％ Reduced-salt products and Product range spread Increasing added value health value-added (unit price growth) products Menu-specific seasonings Flavor seasonings Umami seasonings Other Japan Thailand Indonesia

  12. Slide 12: 7-2. Frozen Foods

    7. Core Business Strategies Frozen Foods Sales： 7-2. Frozen Foods 289.3 B yen（FY24） ●Japan 86.7 B yen（FY24） ●Overseas 202.6 B yen（FY24） Percentage of Overseas Sales 3％ for Geographical Areas ＜Home-use：Japan＞ ・Mainly in 10％ Gyoza North America, 「ザ★®(THE)」bland Europe, Thailand, Yawaraka Wakadori Kara

  13. Slide 13: 7-2. Frozen Foods Sales and Business Profit

    7. Core Business Strategies 7-2. Frozen Foods M&A Sales mainly in in North America From Structural Japan Japan Reform to Growth and Europe (%) 270 Sales 240 210 180 150 North 120 America 90 (%) 230 Business Profit 180 Europe 130 80 30 * % with FY11 as 100 * Business profit does not take into account

  14. Slide 14: 7-2. Frozen Foods: Growth in the Asian Category

    7. Core Business Strategies 7-2. 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 Growth of the Asian Asian category (US$ million) category Asian CAGR Local currency basis

  15. Slide 15: 7-2. Frozen Foods: Initiatives for a Robust Earnings Structure

    7. Core Business Strategies 7-2. Frozen Foods : Initiatives for a Robust Earnings Structure In Frozen Foods, we are reducing assets: 19⇒14 factories overseas, 7⇒6 factories in Japan. We aim to reduce non-current assets by approximately ¥3.5 billion and achieve an ROIC of 5% in 2025. China Europe 3⇒1

  16. Slide 16: 7-3. Healthcare and Others

    7. Core Business Strategies Sales of Healthcare and Others : 7-3. Healthcare and Others ￥328.3 B yen （FY24） ●Electronic materials ●Amino acids for pharmaceuticals and foods and others 76.5 B yen（FY24） Approx.58.5 B yen（FY24） Ajinomoto Build-Up Film® (ABF) is a film-type insulating material that is u

  17. Slide 17: 7-3. Healthcare and Others Sales and Business Profit

    7. Core Business Strategies 7-3. 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 (%) Sales 180 Functional Materials

  18. Slide 18: What is Ajinomoto Build-up Film (ABF)?

    7. Core Business Strategies 7-3. Healthcare and Others : What is Ajinomoto Build-up Film® (ABF)? 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 packagi

  19. Slide 19: Development of ABF and Growth of ICT

    7. Core Business Strategies 7-3. Healthcare and Others : Development of ABF and Growth of ICT ✓ ABF is essential for semiconductor package substrates and is the de facto standard ✓ ABF usage grows due to shift to HPC* applications Toward ultra-high speed and ✓ ABF also contributes to the evolution o

  20. Slide 20: Bio-Pharma Services business (CDMO)

    7. Core Business Strategies 7-3. Healthcare and Others : Bio-Pharma Services business (CDMO) We will accelerate organic growth through new businesses based on Ajinomoto Co., Inc. fundamental technologies that enable differentiation. ⇒ Toward new growth drivers Sales estimate for CDMO services Sales

  21. Slide 21: Features of Ajinomoto's Oligonucleotide Contract Business

    7. Core Business Strategies 7-3. Healthcare and Others : Features of Ajinomoto’s Oligonucleotide Contract Business Only CDMO using AJIPHASE®, a proprietary liquid-phase manufacturing technology, in addition to solid-phase manufacturing technology Solid-phase synthesis (Osaka) AJIPHASE® Fast Synthesi

  22. Slide 22: Issues in ADC Design and the Value of Our Unique Technology

    7. Core Business Strategies 7-3. 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

  23. Slide 23: 8. Shift from structural reform to growth

    8.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 growth areas through evolution of core businesses and business model transformation (BMX) . Four growth areas Bio & Fine Healthcare ICT CAGR C

  24. Slide 24: 9. ASV Indicators

    9. ASV Indicators 9. 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

  25. Slide 25: 9. ASV Indicators: Economic and social value

    9. ASV Indicators 9. ASV Indicators We are adjusting existing KPIs for achieving our future vision, combining these with new needed metrics and changing to ASV indicators that will encourage further growth and challenges. Eat Well, Live Well. ASV Indicators Economic value Social value indicators ind

  26. Slide 26: 9. 2030 ASV indicators: Economic value

    9. ASV Indicators 9. 2030 ASV indicators Aim to steadily reach our FY2025 forecast to reach our 2030 ASV indicators. FY25 FY25 FY30 Ref.: Aim for FY22 FY23 FY24 forecast (plan) (plan) approx. 3x EPS Approx. (vs. FY2022） Approx. ROE 12.9% 11.0% 9.0% 16% 18% 20% (Excluding the impact of the Forge acqu

  27. Slide 27: 2030 ASV indicators: Social value

    9. ASV Indicators 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

  28. Slide 28: 2030 ASV indicators: Environmental impact

    9. ASV Indicators 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 FY23 (Results) Scope 1, 2 Total FY30：Reduced by 50％ (vs. FY18) 35％ reduction Greenhouse gas Response to Scope 3 Total FY

  29. Slide 29: 10. Financial strategy: Shareholder Returns and Investment for Growth

    10. Financial strategy Shareholder Returns and Investment for Growth (Our Thinking under the Medium-Term ASV Initiative) While generating record-high operating cash flow and making necessary investments for the future, we will aggressively buy back shares as a second tier of investments above WACC.

  30. Slide 30: Shareholder Returns and Investment for Growth

    10. Financial strategy Shareholder Returns and Investment for Growth A dividend increase based on a progressive dividend policy is scheduled for FY2025. Today, May 8, we announced a ¥100 billion share buyback and will further enhance shareholder returns. FY2024 (Based on pre-split shares) ◼ Dividend

  31. Slide 31: 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

  32. Slide 32: 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

  33. Slide 33: Reference Links

    Reference Links Ajinomoto Group IR https://www.ajinomoto.co.jp/company/en/ir/ Ajinomoto Group ASV Report (Integrated Report) 2024 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 Aj

  34. Slide 34: (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

  35. Slide 35: (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

Ajinomoto — Investor Presentation (June 2025) on 6ix