Slide 1: Briefing Materials for FY2024 Financial Results
Briefing Materials for FY2024 Financial Results Kagome Co., Ltd. Securities Code: 2811 Figures in these materials ・ Amounts are rounded down to the nearest 0.1 billion yen. Part of amounts for core operating income are rounded down to the nearest 10 million yen. ・ Percentages are rounded to one deci
Slide 2: Topics
Topics 1. Summary of Financial Results for FY2024 2. Progress of the Third Mid-Term Management Plan and FY2025 Earnings Forecast 3. Looking Ahead to the Next Decade 2 ©2025 Kagome Co., Ltd.
Slide 3: 1. Summary of Financial Results for FY2024
1. Summary of Financial Results for FY2024 3 ©2025 Kagome Co., Ltd.
Slide 4: FY2024 Consolidated Results
FY2024 Consolidated Results ・ Revenue and each profit indicator reached record highs. ・ Revenue: Revenue increased on the addition of Ingomar as a consolidated subsidiary. ・ Core operating income: Core operating income rose thanks to price revisions and demand stimulation measures, etc., which cover
Slide 5: FY2024 Results by Segment
FY2024 Results by Segment ・ Domestic Processed Food: Beverages and Food – Other categories posted increased revenue and higher core operating income, while Direct Marketing recorded increased revenue, but lower core operating income. ・ International: The effects of Ingomar’s consolidation and inclus
Slide 6: FY2024 Domestic Processed Food Business
FY2024 Domestic Processed Food Business ・ Revenue rose across all categories thanks to demand stimulation measures implemented after price revisions in February. ・ Core operating income was also up with the exception of Direct Marketing where we implemented strategic investments in the 4Q. Revenue C
Slide 7: FY2024 Domestic Processed Food Business—Trend After Price Revisions
FY2024 Domestic Processed Food Business —Trend After Price Revisions ・ Vegetable beverages and institutional and industrial use: Maintained performance after price revisions as sales volume and value exceeded the previous fiscal year. ・ Foods for consumer use: Despite quarterly ups and downs, on a f
Slide 8: FY2024 International Business
FY2024 International Business ・ Revenue increased significantly on the addition of Ingomar as a consolidated subsidiary. ・ Core operating income increased amid rising selling prices linked to positive market conditions. Revenue Core operating income Unit: billion yen 35.00 Unit: billion yen Core ope
Slide 9: FY2024 Factors Contributing to Core Operating Income Changes
FY2024 Factors Contributing to Core Operating Income Changes Changes in core operating income were as follows: FY2023 results 19.47 Unit: billion yen Increase in profits from +11.91 (1) Domestic Processed Food higher revenue Change in cost -6.87 Cost reduction, etc. +1.41 (2) -5.4 Business Rising lo
Slide 10: FY2024 Factors Contributing to Operating Income and Net Income Changes
FY2024 Factors Contributing to Operating Income and Net Income Changes ・ Net income rose from the previous year on higher core operating income and other revenues. FY2024 Result FY2023 Unit: billion yen YoY Change Result Core operating income 27.09 +7.61 39.1% 19.47 Other income 10.07 (1) +9.43 ― 0.
Slide 11: FY2024 Changes to Statement of Financial Condition
FY2024 Changes to Statement of Financial Condition ・ Assets and Liabilities both increased on the addition of Ingomar as a consolidated subsidiary. Details of Changes from the Previous Fiscal Year End Assets/Liabilities and Equity (Unit: billion yen) 362.4 billion yen (+96.7 billion yen YoY) Equity
Slide 12: FY2024 Changes in Cash Flow
FY2024 Changes in Cash Flow Free cash flows: Declined YoY following an increase in expenditures in cash flows from investing activities. Cash flows from financing activities: Declined YoY due to repayment of borrowings, despite disposal of treasury shares. FY2024 Result FY2023 Unit: billion yen YoY
Slide 13: 2. Progress of the Third Mid-Term Management Plan and FY2025 Earnings Forecast
2. Progress of the Third Mid-Term Management Plan and FY2025 Earnings Forecast 13 ©2025 Kagome Co., Ltd.
Slide 14: Progress of the Third Mid-Term Management Plan
Progress of the Third Mid-Term Management Plan ・ The earnings forecast for 2025, the final year of the plan, calls for revenue of 300 billion yen and core operating income of 24 billion yen. ・ CAGR for the third Mid-Term Management Plan, which emphasizes growth, grew significantly for both revenue a
Slide 15: Third MTMP: Investment Results vs. Plan
Third MTMP: Investment Results vs. Plan ・ Set to accelerate investments for sustainable growth in the second half, both organically and inorganically. ・ Proactively spending on capital investment in the International Business including Ingomar to achieve medium- to long-term growth. ・ Continuing to
Slide 16: Third MTMP: Domestic Processed Food Business
Third MTMP: Domestic Processed Food Business ・ Domestic Processed Food Business: Continues to face rising costs and profit generation is now the segment’s most important issue. ・ Efforts are now underway to restore core operating income to the level seen in 2021 (before major cost increases). Restor
Slide 17: Third MTMP: International Business
Third MTMP: International Business ・ International Business: Both revenue and core operating income increased following the addition of Ingomar as a consolidated subsidiary. ・ Tomato paste prices are now falling, but through collaboration within the Group, we will minimize the impacts of market cond
Slide 18: FY2025 Earnings Forecast
FY2025 Earnings Forecast Domestic Processed Food Business: Revenue is expected to increase, but core operating income will decline because of rising raw materials prices and logistics costs, etc. International Business: Revenue is forecast to decline due to the effects of declining tomato paste pric
Slide 19: FY2025 Factors Contributing to Core Operating Income Changes
FY2025 Factors Contributing to Core Operating Income Changes ・ Domestic Processed Food Business: Revenues are forecast to increase, but core operating income will decline due to continued increases in raw materials prices, etc. ・ International Business: Core operating income is expected to decline s
Slide 20: FY2025 Domestic Processed Food Business: Beverages
FY2025 Domestic Processed Food Business: Beverages ・ The vegetable beverages market is expected to reverse course toward growth driven by tomato juice. ・ Despite the impacts of surging vegetable prices, vegetable juice has become the chosen means of easing vegetable intake shortages. Vegetable bever
Slide 21: FY2025 Domestic Processed Food Business: Beverages
FY2025 Domestic Processed Food Business: Beverages ・ Focus on growing demand for tomato juice and Yasai Seikatsu 100. ・ Look to make full-fledged foray into almond milk market as a new domain. Kagome Tomato Juice Yasai Seikatsu 100 Almond Breeze Full-fledged market entry Blood pressure and 30th anni
Slide 22: FY2025 Domestic Processed Food Business: Vegetable Beverages
FY2025 Domestic Processed Food Business: Vegetable Beverages ・ Identify consumer needs for vegetable intake as a healthy habit and accelerate the growth of demand in the vegetable beverage market (volume basis). Kagome Tomato Juice: marketing strategy Yasai Seikatsu 100: marketing strategy ■ Aim to
Slide 23: FY2025 Domestic Processed Food Business: Plant-Based Milk
FY2025 Domestic Processed Food Business: Plant-Based Milk ・ Launch full-scale efforts for Almond Breeze, which Kagome began manufacturing and selling in September 2024. ・ Tackle the challenge of creating new demand in Japan’s almond milk market. Almond milk market trends Marketing strategy ■Room for
Slide 24: FY2025 Domestic Processed Food Business: Food - Other
FY2025 Domestic Processed Food Business: Food - Other ・ Kagome Napolitan Stadium 2025 will be held to increase demand for tomato ketchup. ・ For institutional and industrial use products, we will promote earnings structure reforms in conjunction with labor shortages and strengthening plant-based food
Slide 25: FY2025 International Business: Changes in Market Conditions
FY2025 International Business: Changes in Market Conditions ・ Larger production yields of processing tomatoes in 2023 and 2024 have cancelled out worldwide inventory shortages of tomato paste. ・ Prices of processing tomatoes and tomato paste have declined since peaking with the 2023 crop. ・ Kagome s
Slide 26: FY2025 International Business: Factors Contributing to Core Operating Income Changes
FY2025 International Business: Factors Contributing to Core Operating Income Changes ・ International Business: Forecast calls for downturn in both revenue and core operating income to 132.5 billion yen and 11.9 billion, respectively. ・ Core operating income set to decrease due mainly to weaker selli
Slide 27: FY2025 International Business: Ingomar
FY2025 International Business: Ingomar ・ Ingomar forecasts a decline in revenue and core operating income due to the downturn in the tomato paste market, but the decline should be smaller than the market due to its long-term customer contracts, etc. ・ In the short term, core operating income will de
Slide 28: FY2025 International Business: Strategy
FY2025 International Business: Strategy ・ We will make maximum use of Ingomar and strengthen the management foundation of the International Business through Group collaboration. ・ Ingomar's synergistic effects are expected to generate core operating income of approximately 2 billion yen (cumulative)
Slide 29: FY2025 Operating Income/Net Income
FY2025 Operating Income/Net Income ・ Operating income/net income: In addition to a decrease in core operating income, net income will also decrease due to the recognition of a mark-to-market gain on the 20% existing equity stake in Ingomar in FY2024. Comparison with final year of 2nd MTMP FY2025 For
Slide 30: Third MTMP: Shareholder Returns
Third MTMP: Shareholder Returns ・ FY2024: Increased ordinary dividend by 5 yen because initial forecast was exceeded and added a commemorative dividend of 10 yen, for a total dividend of 57 yen per share. ・ FY2025: Plan to increase ordinary dividend from FY2024 by 1 yen to 48 yen per share ・ Also, p
Slide 31: 3. Looking Ahead to the Next Decade
3. Looking Ahead to the Next Decade 31 ©2025 Kagome Co., Ltd.
Slide 32: Core Thinking for the Next Decade
Core Thinking for the Next Decade ・ We looked back on our efforts to date and came up with three core ideas for predicting future changes in the business environment and examining our vision. (1) Achieve sustainable growth by solving social issues (2) Create value from agriculture and deliver it to
Slide 33: The Next Decade: Two Directions of Growth Strategies
The Next Decade: Two Directions of Growth Strategies ・ Social issues such as the worsening environment, food shortages caused by world population growth, and a decline in the population involved in agriculture are becoming more serious, while technology continues to evolve. ・ Utilizing evolving tech
Slide 34: Strengthening Foundation for Growth: Agricultural R&D
Strengthening Foundation for Growth: Agricultural R&D ・ We will strengthen agricultural research and development infrastructure through powerful collaboration between GARBiC*, Ingomar and contracted farmers. ・ We aim to establish plant varieties and cultivation techniques with low environmental impa
Slide 35: Strengthening Foundation for Growth: Agricultural R&D
Strengthening Foundation for Growth: Agricultural R&D ・ In 2024, in collaboration with Ingomar's raw materials division and contracted farm technicians, we studied the technical needs of tomato cultivation in California. ・ Key issues were set based on importance and feasibility, and efforts are now
Slide 36: Strengthening Foundation for Growth: Health Research
Strengthening Foundation for Growth: Health Research ・ Our Diet & Well-being Research Institute will research the potential of vegetables and plant-based products from various angles. ・ Our goal is to contribute to mental and physical well-being with vegetables and agriculture. Diet & Well-being Res
Slide 37: Thank you for your attention
Thank you for your attention 37 ©2025 Kagome Co., Ltd.
Slide 38: Reference
Reference 38 ©2025 Kagome Co., Ltd.
Slide 39: Topics in Domestic Processed Food Business—Beverages (2024)
Topics in Domestic Processed Food Business— Beverages (2024) ・Tomato juice achieved record high shipment volume for three consecutive years following the acquisition of beauty-minded consumers and repeat purchasers. ・Sales of the Yasai Seikatsu 100 series are performing well after the introduction o
Slide 40: Topics in Domestic Processed Food Business—Direct Marketing (2024)
Topics in Domestic Processed Food Business— Direct Marketing (2024) ・ Rising number of subscription customers especially for mainstay Tsubuyori Yasai. ・ Downturn in core operating income following strategic investments in advertising, etc. Number of subscription customers up 3% YoY Soups experienced
Slide 41: Topics in Domestic Processed Food Business—Food - Others (2024)
Topics in Domestic Processed Food Business— Food - Others (2024) ・ Sales remained strong, and volume did not experience a major drop even after price revisions to tomato ketchup. ・ Core operating income was up on revenue growth, etc., despite rising raw materials prices. Foods for consumer use Reven
Slide 42: Topics in International Business (2024)
Topics in International Business (2024) ・ Ingomar became a consolidated subsidiary. ・ Core operating income rose on price revisions linked to the market. Unit: billion yen Revenue Core operating income FY2024 Result FY2023 FY2024 Result FY2023 Unit: billion yen YoY YoY YoY (excludes forex Result YoY
Slide 43: International Business—Factors Contributing to Core Operating Income Changes
International Business— Factors Contributing to Core Operating Income Changes ・Changes in core operating income for the International Business in FY2024 were as follows: 2.2 Includes 2.2 for Ingomar as equity-method affiliate Unit: billion yen (1) +3.5 (2) +0.4 (1) Primary processing +3.3: consolida
Slide 44: International Business—Ingomar's PMI and Group Synergies
International Business— Ingomar’s PMI and Group Synergies ・ Ingomar’s post merger integration (PMI) is progressing as planned. ・ We will continue working to maximize Group synergies. Progress of Ingomar’s PMI and main initiatives going forward Production efficiency and Improving management Agricultu
Slide 45: Topics in International Business (2024)
Topics in International Business (2024) Yield decreased due to poor crop growth caused by the extreme heat, and although unit selling prices increased, the sales volume decreased significantly, and revenue fell. Increases in unit selling prices outweighed the impact of the lower sales volume, result
Slide 46: Strengthening Management Foundation—Sustainability Initiatives
Strengthening Management Foundation— Sustainability Initiatives ・ Began operations of a storage battery system at Fujimi Plant. ・ Formed a consortium for joint development of AI-powered produce sorter that detects quality information of fresh tomatoes without damaging them. Began joint development a
Slide 47: Strengthening Management Foundation—Improve Employee Engagement
Strengthening Management Foundation— Improve Employee Engagement ・ Our efforts to improve employee engagement have paid off, as engagement survey scores have risen steadily. ・ We will further improve employee health and engagement by promoting health and productivity management measures. Improve emp