Itoham Yonekyu Holdings, Inc. · TSE:2296

Itoham Yonekyu — Q1 FY2024 Earnings Presentation

51 slides from Itoham Yonekyu's earnings presentation, Aug 1, 2024

  1. Slide 1: FY2024 Financial Results for Q1

    ITOHAM YONEKYU HOLDINGS INC. （Tokyo Prime：2296） FY2024 Financial Results for Q1 (Apr 1, 2024 – Jun 30, 2024) August 01, 2024

  2. Slide 2: Q1 Results Summary and Forecast for FY2024

    Q1 Results Consolidated Summary for Q1  Sales increased by 3.6%. Ordinary profit decreased by -22.0%. Forecast for FY2024 Segment  In the Processed Food Division : Increase in sales and in ordinary profit. Price revisions offset high raw material prices and increases in logistics and manufacturing

  3. Slide 3: Contents

    01 Earnings Results ・FY2024 Q1 Result 4 3 13 ・Full Year Forecast for FY2024 21 02 Supplemental Data 29 03 Appendix 42 04 Business summary Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is rounded off to second decimal pla

  4. Slide 4: Consolidated FY2024 Q1 Result

    01 Earnings Results （Q1） [Consolidated] FY2024 Q1 result billion yen % Year-on-Year FY2024 Q1 result Amount of sales Change Change% Increase in sales and decrease in ordinary profit Sales 235.8 - +8.2 +3.6% • Sales increased 8.2 billion yen Operating (1Q)100％ 横12.73、縦3 (+3.6%) due to price revisions

  5. Slide 5: Consolidated Ordinary Profit Factors

    01 Earnings Results （Q1） [Consolidated] billion yen +0.6 -1.7 経常利益増減分析 FY2024 Q1 result Ordinary Profit Factors +0.9 +0.2 • 経営統合後のシナジー発現に 伴い、稼ぐ力が着実に向上、 -0.4 • Processed Food Division ： 当社の強みは +0.3 安定した基礎収益力と認識 + 0.6 billion yen -1.5 • Meat division ： Ordinary -0.5 -0.1 Profit • -稼ぐ力を原資に成長投資を実行、 1.7

  6. Slide 6: Processed Food Division Q1 Segment Info

    01 Earnings Results （Q1） [Processed Food Division] Segment Info FY2024 Q1 financial earnings results billion yen % Year-on-Year Amount FY2024 Q1 result of sales (1Q)100％ 横12.73 縦3.22 Change Change% (2Q~)90％横11.01、縦4.14 Increase in sales and Processed Sales 96.9 - +2.8 +2.9% Food in ordinary profit O

  7. Slide 7: Processed Food Division Ordinary Profit Factors

    01 Earnings Results （Q1） [Processed Food Division] Ordinary profit factors billion yen Q1 Actual Ordinary Profit Factors FY2022 Main Factors 1.6 Ordinary profit • +1.0 billion yen of price Sales Volume -0.3 ・Volume decreased due to price revisions and revision effects, etc. consumers' reluctance to

  8. Slide 8: Processed Food Division Topics

    01 Earnings Results （Topics） [Processed Food Division] Consumer/Commercial Growth rate Growth rate by product ％ ％ volume amount amount Growth by category and Ham & Sausages Consumer Commercial -1.8 -4.8 +0.9 -0.3 THE GRAND Alt Bayern Pork Bits / Cheese In -2.1 +4.1 product Total -3.0 +0.5 Sausages T

  9. Slide 9: Meat Division Q1 Segment Info

    01 Earnings Results （Q1） [Meat Division] Segment Info FY2024 Q1 financial earnings results billion yen % Year-on-Year Amount FY2024 Q1 result of sales (1Q)100％ 横12.73 縦3.22 Change Change% (2Q~)90％横11.01、縦4.14 Increase in sales and Meat Sales 138.9 - +5.4 +4.1% decrease in ordinary profit Division Or

  10. Slide 10: Meat Division Ordinary Profit Factors

    01 Earnings Results （Q1） [Meat Division] Ordinary profit factors billion yen Q1 Actual Ordinary Profit Factors FY2022 Main Factors 4.3 Ordinary profit • Domestic business : Profit Sales Volume -0.2 ・Decrease in volume mainly of High-priced domestic and imported beef decreased by - 1.5 billion yen du

  11. Slide 11: Meat Division Topics

    01 Earnings Results （Topics） Domestic/Imported Growth rate ％ [Meat Division] our company (excluding ANZCO) volume amount Topics beef Domestic -3.5 -3.3 +3.2 +5.4 Imported pork Domestic -1.5 +3.2 • In the domestic business, Imported -0.1 -0.4 demand shifted from beef and poultry Domestic +11.1 -0.1 p

  12. Slide 12: Full Year Forecast for FY2024

    01 Earnings Results ・FY2024 Q1 Result 4 ・Full Year Forecast for FY2024 13 02 Supplemental Data 21 03 Appendix 29 04 Business summary 42 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is rounded off to second decimal place

  13. Slide 13: Consolidated Full-year Earnings Forecast

    (Please See P. ● for details of earnings forecasts) 01 Earnings Results （ Full-year earnings forecast ） [Consolidated] FY2024 full year financial earnings forecast billion yen Full-year earnings % Year-on-Year Previous forecast Amount Change forecast of sales Change Change% Rev 2-May • Expect increa

  14. Slide 14: Consolidated Full-year Ordinary Profit Factors

    01 Earnings Results （ Full-year earnings forecast ） billion yen [Consolidated] +1.7 -0.9 経常利益増減分析 Ordinary Profit Factors +10.0 •• 経営統合後のシナジー発現に Processed Food Division : +0.2 +0.3 伴い、稼ぐ力が着実に向上、 + 1.7 billion yen +0.7 当社の強みは -8.5 安定した基礎収益力と認識 -1.9 -0.4 • Meat Division : - 0.9 billion yen • 稼ぐ力を原資に成長

  15. Slide 15: Full-year Forecast and Q1 Profit Progress

    01 Earnings Results （ Full-year earnings forecast ） Consolidated Full-year operating Q1（Apr.-Jun.） Reference : Progress of ordinary profit forecast 0% 25% 50% 75% Full-year 100% f’cast Q1 results (over-the-counter transition) • （Q1）Profit progress at Sales 24.3% 970.0 235.8 each stage was below the

  16. Slide 16: Processed Food Division Full-year Forecast

    01 Earnings Results （ Full-year earnings forecast ） [Processed Food Division] Segment Info FY2024 full year financial earnings forecast billion yen Full-year earnings % Year-on-Year Previous forecast Amount Rev 2-May Change forecast of sales Change Change% (1Q)100％ 横12.73 縦3.22 Processed Sales (2Q~)

  17. Slide 17: Processed Food Division Ordinary Profit Factors Forecast

    01 Earnings Results （ Full-year earnings forecast ） [Processed Food Division] Ordinary profit factors billion yen H1 H2 Year forecast forecast forecast Ordinary Profit Factors FY2023 Main Factors 3.5 5.5 9.0 Ordinary profit • +10.7 billion yen of price Sales Volume -0.4 -0.3 -0.7 ・Volume decreased d

  18. Slide 18: Meat Division Full-year Forecast

    01 Earnings Results （ Full-year earnings forecast ） [Meat Division] Segment Info FY2024 full year financial earnings forecast billion yen Full-year earnings % Year-on-Year Previous forecast Amount Rev 2-May Change forecast of sales Change Change% (1Q)100％ 横12.73 縦3.22 Sales (2Q~)90％横11.55、縦4.14 570.

  19. Slide 19: Meat Division Ordinary Profit Factors Forecast

    01 Earnings Results （ Full-year earnings forecast ） [Meat Division] Ordinary profit factors billion yen H1 H2 Year forecast forecast forecast Ordinary Profit Factors FY2023 Main Factors 9.5 8.6 18.1 Ordinary profit • In the domestic business, Sales Volume -0.1 +0.2 +0.1 ・Expect increase in chicken s

  20. Slide 20: Supplemental Data

    01 Earnings Results ・FY2024 Q1 Result 4 ・Full Year Forecast for FY2024 13 02 Supplemental Data 21 03 Appendix 29 04 Business summary 42 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is rounded off to second decimal place

  21. Slide 21: Profit / Loss

    03 Supplemental Data Year Actual Sale of each country and region billion yen billion yen Profit / Loss FY2023 FY2024 FY2023 FY2024 Q1 Q1 Change Q1 Q1 Change Sales 227.6 235.8 +8.2 Sales 227.6 235.8 +8.2 COGS 195.4 203.6 +8.3 Japan 196.5 199.2 +2.7 Gross Profit 32.2 32.1 -0.1 Overseas Total 31.0 36.6

  22. Slide 22: S,G & A Expenses and Non-operational Gain/Loss

    03 Supplemental Data S,G & A Expenses Non-operational Gain/Loss billion yen billion yen S,G & A Expenses FY2023 FY2024 FY2023 FY2024 Non-operational G/L Q1 Q1 Change Q1 Q1 Change Non-Operational G/L 0.3 0.4 +0.2 Sales 227.6 235.8 +8.2 Non-controlling -0.3 0.5 +0.7 Selling, General and interests 26.9

  23. Slide 23: Balance Sheet

    03 Supplemental Data billion yen FY2023 FY2024 FY2023 FY2024 Change Change Year end Q1 Year end Q1 Balance Sheet Current Assets 272.0 297.6 +25.6 Total Liabilities 177.2 204.0 +26.8 Cash and Term Deposits 23.2 23.9 +0.6 Current Liabilities 161.2 187.5 +26.3 Receivables 111.0 116.0 +5.0 Fixed Liablil

  24. Slide 24: Cash Flow Statement

    03 Supplemental Data billion yen Cash flow FY2023 FY2024 Q1 Q1 Change statement ①Cash Flow from Operation 0.3 -4.6 -4.9 Income Before Taxes 5.3 4.4 -0.9 Depreciation 2.9 3.1 +0.3 Change in Recievables -3.1 -4.8 -1.8 Change in Inventories -18.5 -19.5 -1.0 Change in Payables 14.0 11.3 -2.7 Others -0.3

  25. Slide 25: Itemized Sales

    決算補足データData 03 Supplemental Itemized Sales 商品分類別実績 Itemized Sales billion yen Consolidated Processed Food Div. Meat Div. FY2023 FY2024 FY2023 FY2024 FY2023 FY2024 Q1 Q1 change Q1 Q1 change Q1 Q1 change Sales 227.6 235.8 +8.2 94.1 96.9 +2.8 133.5 138.9 +5.4 Ham & Sausage 44.6 45.0 +0.4 41.6 42.0 +0.4

  26. Slide 26: Full-year Earnings Forecast Details

    03 決算補足データ Supplemental Data billion yen H1 H2 Year FY2024 FY2023 Last FY2024 FY2023 Last FY2024 FY2023 Last Change Chage Change Chage Change Chage F'cast results F'cast F'cast results F'cast F'cast results F'cast Full-year earning Rev 1-Aug Rev 2-May Rev 1-Aug Rev 2-May Rev 1-Aug Rev 2-May forecast

  27. Slide 27: Profit Change Analysis Trends

    03 決算補足データ Supplemental Data billion yen Processed Food Div. Q1 H1 H2 Year results Rev 2-May. F'cast Rev 2-May. F'cast Rev 2-May. F'cast FY2022 Ordinary profit 1.6 3.5 3.5 5.5 5.5 9.0 9.0 Profit change Sales Volume Gross Margin,SG&A -0.3 +1.0 -0.3 +4.2 -0.4 +2.9 -0.1 +3.8 -0.3 +7.8 -0.4 +8.0 -0.7 +1

  28. Slide 28: Appendix

    01 Earnings Results ・FY2024 Q1 Result 4 ・Full Year Forecast for FY2024 13 02 Supplemental Data 21 03 Appendix 29 04 Business summary 42 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is rounded off to second decimal place

  29. Slide 29: Overseas Markets

    04 Appendix Pork Carcass - Spain Picnic - USA Overseas Markets Pork Bellies - USA Loin - USA Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 29

  30. Slide 30: CPI

    04 Appendix Beef Chicken CPI Pork Processed Meat Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. Date：Ministry of Internal Affairs and Communications 30

  31. Slide 31: Ham & Sausage Domestic Supply

    04 Appendix Domestic Production Imports 55,000 FY2022 3,500 FY2022 FY2023 3,300 FY2023 FY2024 Ham & Sausage 50,000 3,100 FY2024 Supply 2,900 Domestic (ton) Import (ton) 45,000 2,700 2,500 Apr.-May 40,000 2,300 2,100 【Domestic】 YoY -2.4% FY2023 89,304 ton 35,000 1,900 FY2024 87,174 ton 1,700 30,000 1

  32. Slide 32: Ham/Sausage Domestic Market Share

    Date：QPR™ 04 Appendix ham/sausage domestic market ham/sausage domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Ham/Sausage domestic market share 【 Share 】 Apr.-Jun. Last year 21.1％ This year 22.1％ YoY +1.1％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb.

  33. Slide 33: Wiener Domestic Market Share

    Date：QPR™ 04 Appendix Wiener domestic market Wiener domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Wiener domestic market share 【 Share 】 Apr.-Jun. Last year 20.3％ This year 20.7％ YoY +0.4％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【sha

  34. Slide 34: Slice Pack of Ham, Bacon Domestic Market

    Date：QPR™ 04 Appendix Slice pack of ham, bacon, etc. domestic market Slice pack of ham, bacon, etc. domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Slice pack of ham, bacon, etc. domestic market share 【 Share 】 Apr.-Jun. Last year 20.3％ This year 22.3％ YoY +2

  35. Slide 35: Pizza/Snacks Domestic Market Share

    Date：QPR™ 04 Appendix Pizza/Snacks domestic market Pizza/Snacks domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Pizza/Snacks domestic market share 【 Share 】 Apr.-Jun. Last year 30.7％ This year 33.7％ YoY +3.0％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. F

  36. Slide 36: Hamburger Steak/Meatball Domestic Market

    Date：QPR™ 04 Appendix Hamburger steak/Meatball domestic market Hamburger steak/Meatball domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Hamburger steak/ Meatball domestic market share 【 Share 】 Apr.-Jun. Last year 11.7％ This year 12.6％ YoY +0.9％ Apr. May Jun.

  37. Slide 37: Processed Chicken Food Domestic Market

    Date：QPR™ 04 Appendix Processed chicken food domestic market Processed chicken food domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Processed chicken food domestic market share 【 Share 】 Apr.-Jun. Last year 22.3％ This year 22.8％ YoY +0.4％ Apr. May Jun. Jul. A

  38. Slide 38: Marketed Volume/Ending Stock/Market Price (Beef)

    04 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Beef) Domestic Bee

  39. Slide 39: Marketed Volume/Ending Stock/Market Price (Pork)

    04 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Pork) Domestic Por

  40. Slide 40: Marketed Volume/Ending Stock/Market Price (Chicken)

    04 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products ※bone-in meat base Marketed Volume/ Ending Stock/ Market Price

  41. Slide 41: Business Summary

    01 Earnings Results ・FY2024 Q1 Result 4 ・Full Year Forecast for FY2024 13 02 Supplemental Data 21 03 Appendix 29 04 Business summary 42 Note: The financial information disclosed by Japanese GAAP and FY2024 shows from Apr 1, 2024 to March 31, 2025. This material is rounded off to second decimal place

  42. Slide 42: meat together: Group Philosophy and Vision

    02 Business summary Group Philosophy Contributing to sound and affluent societies Group Philosophy and through our business Vision Vision Be a leading food company that embodies fairness, rises to the challenge of transformation, and achieves sustainable growth with our employees Company’s Philosoph

  43. Slide 43: History

    02 Business summary History Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 43

  44. Slide 44: History

    02 Business summary History Copyright © 2024 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 44

  45. Slide 45: Business Portfolio and Products Portfolio

    02 Business summary Business Portfolio FY2023 Segment Country & Area Business Portfolio and Products Portfolio • Consolidated Sales Composition Processed Food Div. : 40% (approx.) Meat Div. : 60% (approx.) • Overseas sales ratio is 14.5% We expand worldwide sales on mainly ANZCO Foods Products Portf

  46. Slide 46: Processed Food Division Product Lineup / Market Share

    02 Business summary Domestic market share data：QPRTM（ 15-79 year old panel data ）,FY2023 [Processed Food Division] Product Lineup / Market Share • Expand market share by leveraging our strengths in product lineups that meet diverse needs and category management proposals Copyright © 2024 ITOHAM YONE

  47. Slide 47: Processed Food Division Initiatives

    02 Business summary [Processed Food Division] Enhancement of frozen Cost competitiveness products Exterior image of new Mishima Plant FY2023 Net Sales 16.9 billion yen April 2026 New Mishima Plant scheduled to start Initiatives operation. The factory will be state-of-the-art and Sales Target （FY2026

  48. Slide 48: Meat Division (Domestic) Value Chain / Market Share

    02 Business summary Domestic market share Distribution of production [Meat Division] Our research (including destinations for processing) ,FY2023 and processing bases We have built the strong production and live stock collection system （Domestic） Beef Pork Chicken at the main production area, Southe

  49. Slide 49: Meat Division (Domestic) Initiatives

    02 Business summary [Meat Division] Enhancement of Add Value Wagyu Export April 2024 Develop Company Brand Meat Line （Domestic）Initiatives New state-of-the-art beef processing facility in Towada Operations launched in April 2024, tripling processing capacity • We will handle the expansion of oversea

  50. Slide 50: Meat Division Overseas Expansion

    02 Business summary [Meat Division] ANZCO Foods UK ITOHAM AMERICA ANZCO Foods EU ITOHAM FOODS TRADING(Shanghai) Indiana Packers Overseas Expansion ITOHAM YONEKYU Holdings Asian Best ANZCO Foods Taiwan ≪By Region≫ Chicken *Sales basis • We have 11 bases in 9 ITOHAM BETAGRO Foods countries and regions

  51. Slide 51: Contact Information

    Contact Information ALT ITO Bldg. 1-6-21, MITA, MEGURO-KU, TOKYO , 153-8587, JAPAN ITOHAM YONEKYU HOLDINGS INC. Public & Investor Relations Office TEL : +81-3-5723-6889 You can also contact us from the company website. https://www.itoham-yonekyu-holdings.com The current plans, forecasts, strategies

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