Meiji Holdings Co., Ltd. · TSE:2269

Meiji — Q3 FY2024 Earnings Presentation

26 slides from Meiji's earnings presentation, Feb 10, 2025

  1. Slide 1: Financial Results for the Q1-Q3 of FYE March 2025 (FY2024)

    Financial Results for the Q1-Q3 of FYE March 2025 (FY2024) (From April 1, 2024 to December 31, 2024) February 10, 2025 0 © Meiji Holdings Co., Ltd. All rights reserved.

  2. Slide 2: Summary for Q1-Q3 FY2024 Consolidated Results

    Summary for Q1-Q3 FY2024 Consolidated Results (JPY bn) FY2023 FY2024 FY2024 Q1-Q3 Q1-Q3 vs. FY2024 YoY Change Plan Results Results Plan +5.0% Net sales 833.0 875.0 75.5% 1,159.0 +42.0 +19.6% (Overseas sales) 98.6* 117.9 77.3% 152.4 +19.2 -4.7% Operating profit 69.7 66.4 77.3% 86.0 -3.2 Op. profit ma

  3. Slide 3: Food: Summary – Q1-Q3 FY2024

    Food: Summary – Q1-Q3 FY2024 （JPY bn） FY2023 FY2024 FY2024 Q1-Q3 Q1-Q3 vs. FY2024 YoY Change Plan Results Results Plan +3.3% Net sales 679.4 701.6 +22.1 76.8% 913.8 +1.7% Operating profit 48.6 49.4 +0.8 75.0% 66.0 Analysis of changes in operating profit Japan：+3.9 Overseas：-3.0 Q1-Q3 Results - FY202

  4. Slide 4: Food: Overcome Cost Increase, Realizing Value-Added Strategy

    Food: Overcome Cost Increase, Realizing Value-Added Strategy (JPY bn) Impact on Operating profit Price increase + 30 Product amount change  Rising market prices for cocoa beans caused costs hike. FX rates remain high, energy costs expected to increase 20 +30.4 +30.0  Continue to pursue value-added

  5. Slide 5: Food: Analysis of Operating Profit by Business – Q1-Q3 FY2024

    Food: Analysis of Operating Profit by Business – Q1-Q3 FY2024 (JPY bn) Food Food Dairy Chocolate Nutrition Other Total solutions Q1-Q3 Op. profit –FY2023 48.6 13.6 10.7 13.3 8.4 2.3 Due to increased/decreased Sales +14.7 +2.2 +5.1 +0.9 +6.8 -0.3 Changes in COGS -11.9 -1.9 -5.2 +0.5 -4.5 -0.8 Changes

  6. Slide 6: Food: Q1-Q3 FY2024 Results by Business (Dairy)

    Food: Q1-Q3 FY2024 Results by Business  Dairy  Functional yogurt sales (%) （JPY bn） FY2024 6 Q1-Q3 YoY Other than R-1 (TTL) Results Change R-1 R-1 4 -2.0% Double-digit Consumer: ＋4% 2 Net sales 203.7 +1.3 -4.1 decrease FY24 Q1-Q3 パーソナ Home delivery: -10% 0 Sales* ル パーソナル +18.8% TTL: +1% -2 Op. pro

  7. Slide 7: Food: Q1-Q3 FY2024 Results by Business (Chocolate, Nutrition)

    Food: Q1-Q3 FY2024 Results by Business  Chocolate  Nutrition （JPY bn） FY2024 （JPY bn） FY2024 Q1-Q3 YoY Q1-Q3 YoY Results Change Results Change +12.7% +6.1% Net sales 126.3 +14.2 Net sales 95.0 +5.4 +5.4% -1.1% Op. profit 11.3 +0.5 Op. profit 13.2 -0.1  Market size in Japan (Q1-Q3)  Market size i

  8. Slide 8: Food: Q1-Q3 FY2024 Results by Business (Food Solution, Others)

    Food: Q1-Q3 FY2024 Results by Business  Food Solution  Others （JPY bn） FY2024 （JPY bn） FY2024 Q1-Q3 YoY Q1-Q3 YoY Results Change Results Change +6.1% -1.6% Net sales 149.5 +8.5 Net sales 126.9 -2.0 -22.8% -10.1% Op. profit 6.5 -1.9 Op. profit 2.1 -0.2  Net sales  Net sales • B to B: Increased fr

  9. Slide 9: Food: Q1-Q3 FY2024 Results by Business (Overseas)

    Food: Q1-Q3 FY2024 Results by Business  Overseas (JPY bn)  China FY2023 FY2024 FY2024 Q1-Q3 Q1-Q3 vs. Plan • Drinking milk and yogurt for consumer market YoY YoY - Decreased in sales, increased in profit due to narrowing down sales Results Results FY2024 (Rev. Nov) Change Change Plan area/client a

  10. Slide 10: Pharmaceutical: Summary – Q1-Q3 FY2024

    Pharmaceutical: Summary – Q1-Q3 FY2024 （JPY bn） FY2023 FY2024 FY2024 Q1-Q3 Results Q1-Q3 Results YoY Change vs. FY2024 Plan Plan +13.0% Net sales 154.0 174.0 +20.0 70.8% 245.8 -10.8% Operating profit 22.8 20.3 -2.4 81.2% 25.0 Analysis of changes in operating profit Q1-Q3 Results - FY2023 22.8 Due to

  11. Slide 11: Pharmaceutical: Net sales and Op. Profit by Business

    Pharmaceutical: Net sales and Op. Profit by Business *Revised （JPY bn） FY2023 FY2024 FY2024 FY2024 Q1-Q3 Q1-Q3 YoY vs. FY2024 Plan YoY Difference Plan Results Results Change Plan (Rev. Feb) Change from Nov (Rev. Nov) +12.1% +10.9% Domestic Net sales 77.6 87.0 +9.3 74.5% 116.7 +11.5 ー 116.7 pharmaceu

  12. Slide 12: FY2024 Plan: Unchanged

    FY2024 Plan: Unchanged (JPY bn) FY2023 FY2024 Results Plan YoY Change +4.8% Net sales 1,105.4 1,159.0 +53.5 +2.0% Operating profit 84.3 86.0 +1.6 Op. profit margin 7.6% 7.4% -0.2 pt Profit attributable to -1.3% 50.6 50.0 owners of parent -0.6 EPS (JPY) 181.64 181.74 +0.10 Cash dividends per share 95

  13. Slide 13: Appendices

    Appendices 12 © Meiji Holdings Co., Ltd. All rights reserved.

  14. Slide 14: Analysis of Consolidated Operating Profit – Q1-Q3 FY2024

    Analysis of Consolidated Operating Profit – Q1-Q3 FY2024 (JPY bn) Consolidated Operating Profit Food Pharma Other 48.6 22.8 -1.7 Q1-Q3 Results - FY2023 69.7 +14.7 +4.7 ― Due to increased/decreased sales +19.4 *1 ― +1.4 ― Impact of drug price revision +1.4 -11.9 +0.5 ― Changes in costs of goods sold

  15. Slide 15: Food: Analysis of Operating Profit by Business – FY2024 Plan

    Food: Analysis of Operating Profit by Business – FY2024 Plan (JPY bn) Food Food Dairy Chocolate Nutrition Other Total solutions Op. profit –FY2023 64.3 19.6 15.5 16.7 9.8 2.4 Due to increased/decreased sales +26.3 +3.6 +10.1 +4.1 +9.5 -1.2 Changes in COGS -17.6 -1.8 -9.7 -0.8 -4.3 -0.8 Changes in ot

  16. Slide 16: Food: Net Sales and Op. Profit by Business

    Food: Net Sales and Op. Profit by Business （JPY bn） FY2023 FY2024 FY2024 Q1-Q3 Q1-Q3 Plan YoY Vs. FY2024 YoY Results Results Change Plan (Rev. Nov) Change -2.0% -1.5% Net sales 207.8 203.7 -4.1 75.4% 270.1 -4.0 Dairy +18.8% +13.2% Op. profit 13.6 16.2 +2.5 72.7% 22.2 +2.5 +12.7% +5.2% Net sales 112.

  17. Slide 17: Market Prices of Main Raw Materials Imported

    Market Prices of Main Raw Materials Imported (USD/MT) Nonfat Dry Milk (USD/MT) Cheese 6,000 4,000 5,000 3,000 4,000 3,000 2,000 2,000 1,000 1,000 0 0 (GBP/MT) Cocoa beans (USD/lb) Sugar 12,000 30 10,000 25 8,000 20 6,000 15 4,000 10 2,000 5 0 0 16 © Meiji Holdings Co., Ltd. All rights reserved. Sour

  18. Slide 18: Pharmaceutical: Q1-Q3 FY2024 Results by Business

    Pharmaceutical: Q1-Q3 FY2024 Results by Business  Domestic pharmaceuticals (Japan)  Overseas pharmaceuticals (JPY bn) FY2024 (JPY bn) FY2024 Q1-Q3 YoY Q1-Q3 YoY Results Change Results Change +12.1% +15.7% Net sales 87.0 +9.3 Net sales 49.2 +6.6 +32.7% +9.7% Operating profit 17.5 +4.3 Operating pro

  19. Slide 19: Pharmaceutical: Q1-Q3 FY2024 Results by Business (Vaccines and Veterinary)

    Pharmaceutical: Q1-Q3 FY2024 Results by Business  Vaccines and Veterinary drugs (JPY bn) FY2024 Q1-Q3 YoY Results Change +11.6% Net sales 37.7 +3.9 ー Operating profit -2.5 -7.2  Net sales • Shipment volume for influenza vaccine drastically increased  Operating profit • Posted loss due to increase

  20. Slide 20: Pharmaceutical: Net sales by Category in Japan

    Pharmaceutical: Net sales by Category in Japan （JPY bn） FY2023 FY2024 FY2024 Q1-Q3 Q1-Q3 YoY vs. FY2024 Plan YoY Results Results Change Plan (Rev. Nov) Change +14.3% +9.7% Infectious Diseases *1 31.7 36.2 +4.5 77.4% 46.8 +4.1 +34.1% +27.9% Immune System*1 13.3 17.8 +4.5 69.3% 25.7 +5.6 -0.3% +2.6% C

  21. Slide 21: Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2024

    Pharmaceutical: Analysis of Operating Profit – Q1-Q3 FY2024 (JPY bn) Domestic Pharma Overseas Vaccine/Veterinary pharmaceuticals Total (Japan) pharmaceuticals drugs Q1-Q3 Operating profit – FY2023 22.8 13.2 4.8 4.7 Due to increased/decreased sales +4.7 +0.9 +0.7 +3.1 Impact of drug price revision +1

  22. Slide 22: Pharmaceutical: Analysis of Operating Profit – FY2024 Plan

    Pharmaceutical: Analysis of Operating Profit – FY2024 Plan *Revised (JPY bn) Domestic Pharma Overseas Vaccine/Veterinary pharmaceuticals Total (Japan) pharmaceuticals drugs Op. profit – FY2023 22.7 15.8 4.9 1.9 Due to increased/decreased sales +6.1 +2.8 +0.1 +3.2 Impact of drug price revision +1.5 +

  23. Slide 23: R&D Pipeline – Infectious disease, Immune system

    Pharmaceutical: R&D Pipeline - 1 Code No. Efficacy Classification Target Disease Stage (Generic Name) Infectious disease OP0595* (Nacubactam) β-lactamase inhibitor Infections caused by carbapenem-resistant bacteria Phase III (Japan, Overseas)** Induction and maintenance therapy for patients with Imm

  24. Slide 24: R&D Pipeline – Vaccine

    Pharmaceutical: R&D Pipeline - 2 Code No. Efficacy Target Disease Stage (Generic Name) Classification Pentavalent vaccine against diphtheria, tetanus, Launched (Japan) KD-370 Vaccine pertussis, poliovirus, and Haemophilus influenza type b Product name: Quintovac Aqueous Suspension (Five-in-one combi

  25. Slide 25: R&D Pipeline – Veterinary Drugs

    Pharmaceutical: R&D Pipeline - 3 Code No. Efficacy Classification Stage Launched (Japan) ME4137 Injectable antibacterial drug for cattle Product name: FORCYL (Launched on May 27, 2024) Launched (Japan) ME4137 Injectable antibacterial drug for swine Product name: FORCYL S (Launched on January 6, 2025

  26. Slide 26: Information in this material is not intended to solicit sale or purchase of shares

     Information in this material is not intended to solicit sale or purchase of shares in Meiji Holdings. The final decision relating to investments should be made based on the judgment of users themselves.  Business forecasts and other forward-looking statements are based on information available at

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