Morinaga Milk Industry Co., Ltd. · TSE:2264
Morinaga Milk Industry — Q3 FYE March 2025 Earnings Presentation
19 slides from Morinaga Milk Industry's earnings presentation, March 2025
Slide 1: Q3 results overview and full-year forecast
First, I would like to provide an overview of Q3 results, and then I will explain the forecast for the full year. 1
Slide 2: Financial results for Q3
I will now explain the financial results for Q3. 2
Slide 3: Summary of Q3 results
Please see this page, the summary. Operating profit was JPY25.5 billion, a decrease of JPY2.5 billion from the previous year. However, the three-month period of Q3 saw record-high profits of JPY8 billion, an increase of JPY0.8 billion, which aligns with the plan to recover in H2. Domestic sales cont
Slide 4: Q3 financial figures and net profit
The numerical figures are as described. The difference in net profit for the quarter was larger than the previous year due to the extraordinary income recorded in the previous year from the sale of the former Tokyo plant site. 4
Slide 5: Results by business segment
The results by business sector. In the nutritional and healthcare foods business, sales increased due to contributions from yogurt, nutritional food and CLINICO, but profits decreased due to cost increases and higher sales promotion expenses. In the core dairy foods business, sales increased due to
Slide 6: Results by sub-segment
These are the results for each sub-segment. The contents are as described. 6
Slide 7: Results of global business subsidiaries
These are the results of subsidiaries in global business. The contents here are also as described. MILEI is positioned as the core of our global business. The Company has been performing well and is expected to make a stable contribution to profit in the future. As for our subsidiaries in Pakistan,
Slide 8: Factors in operating profit increase or decrease
These are the factors attributable to the increase or decrease in operating profit. Efforts are underway to offset the cost increases, colored in red, with business growth and rationalization, colored in blue. As for overseas subsidiaries, Q1 was significantly impacted by MILEI’s reactionary decline
Slide 9: Outlook for the full fiscal year
From now on, I will explain the outlook for the full fiscal year. 9
Slide 10: Full-year plan with no revisions
There are no revisions to the plan. Operating profit is projected to be JPY28.5 billion, an increase of JPY0.7 billion. The details of the initiatives are as described. There have been no major changes since the announcement of Q2 financial results, but on January 27, we announced price revisions st
Slide 11: Q4 profit increase required to reach plan
Calculating backward from the full-year plan, we need to increase profit by JPY3.2 billion in Q4. This is a larger amount than in the past. Although the domestic consumption environment are of some concern, the contribution of MILEI in global businesses to profits, the impact of sales promotion expe
Slide 12: Initiatives and closing
The contents are as shown in the slide, and there are no revisions to the plan. That is all for the explanation. Thank you for your attention. 12
Slide 13: Appendix
Appendix 13
Slide 14: Target sales and operating profit by segment
(Reference) Target Sales and Operating Profit for Each Business Segment for FYE March 2025 ME norinaga (Unit: billion yen) Net sales Operating profit (operating profit to net sales) FYE Mar. 2025 1 target FYE Mar. 2025 V0 on year -FYEMar. 2025 Year on FYE Mar. 2025 —Year-on-year_ = FYEMar. 2025 _—_Y
Slide 15: Sub-segment net sales targets for FYE March 2025
No revision (Reference) Subsegment Net Sales Targets for FYE March 2025 to forecasts Sha morinaga Tunit: billion yen FYE Mar. 2025 Net sales target a. Year on year net =a, Year on year Nutrition and Healthcare Foods Business Yogurt 27.6 +5% 56.7 +5% (Home deliveries, etc) 8.3 9% 16.3 “11% Nutritiona
Slide 16: Forecast fluctuations to operating profit
No re’ (Reference) Forecasts of Fluctuations to Operating Profit in FYE March 2025 to forecasts () : 2H plan Change in selling unit prices +8.5 (3.2) Sales volume +0.4 (0.6) Product mix +3.5 (2.1) FYE March 2024 +12.4(5.9) +2.4(3.1) -13.2(-6.7) -0.9(1.7) Business growth Operation cost +1.9 (1.5) Sal
Slide 17: Dairy ingredient market data
(Reference) Dairy Ingredient Market Data (Last 5 Years) tha Zentrale Milchmarkt Berichterstattung GmbH (ZMB, Central Milk Market Reporting Agency in Germany) Culinary-use whey powder price (€/ton) Fonterra Global Dairy Trade (GDT) auction prices for lactose (USS/ton) 1,700 1,500 &s 1,300 \ 1,100 = 9
Slide 18: Notice regarding repricing of certain products
Reference) Announcement on January 27, 2025 “Notice Regarding Repricing of Certain Products” = snorin naga Price revisions for beverages from March, and for yogurt, cheeses, et January 27, 2025 Notice Regarding Repricing of Certain Products Morinaga Milk Industry Co., Ltd. (hereinafter “the Company”
Slide 19: Cautionary note regarding business forecasts
morinaga the MORINAGA MILK INDUSTRY CO.,LTD. Cautionary Note Regarding Business Forecasts Figures for plans, policies, and other figures included in this report other than actual past results are forecasts of future business performance, and are calculated based on management’s estimates and underst
Morinaga Milk Industry — Q3 FYE March 2025 Earnings Presentation on 6ix