F ir st Half of the F isc al Ye ar E nding F e br uar y 2017 (1H F Y2/ 17) Re sults Br ie fing WARABE YA NI CHI YO HOL DI NGS CO., L T D. (2918) Oc to b e r 7, 2016
Ove r vie w of F inanc ial Re sults for 1H F Y2/ 17 and F ull- ye ar F or e c ast for F Y2/ 17 (Consolidate d Basis) 1
Consolidate d financ ial r e sults for 1H F Y2/ 17 (Millio ns o f ye n) 1H F Y2/ 16 1H F Y2/ 17 Vs Yo Y F o re c a st F o re c a st Re sults Re sults a t b e g inning o f F Y a t b e g inning o f F Y 108,430 111,200 1,227 -1,541 109,658 Ne t sale s (100.0) (100.0) <1.1> <-1.4> (100.0) 2,386 2,800 640 227 3,027 Ope r ating inc ome (2.2) (2.5) <26.8> <8.1> (2.8) 2,677 2,900 610 387 3,287 Or dinar y inc ome (2.5) (2.6) <22.8> <13.4> (3.0) Pr ofit attr ibutable 1,890 1,750 -246 -105 1,644 to owne r s of par e nt (1.7) (1.6) <-13.0> <-6.0> (1.5) E PS (Ye n) 107.47 99.78 -13.69 -6.00 93.78 (attr ibutable to owne r s of par e nt) *F ig ure s in ( ) sho w sa le s ra tio , a nd fig ure s in < > sho w c ha ng e (%). E stima te s fo r 1H F Y2/ 17 a nno unc e d o n April 13, 2016. 2
F or e c ast and diffe r e nc e fac tor s (Millio ns o f ye n) 1H F Y2/ 17 [Diffe re nc e fa c to rs] Vs. F o re c a st F o re c a st -1,650 F o o d Pro duc ts Busine ss Re sults a t b e g inning o f F Y Ric e Ba ll -1,700 111,200 -1,541 109,658 Sushi -200 Ne t sale s (100.0) (100.0) <-1.4> De lic a te sse n ite ms -300 Chille d Ja pa ne se swe e ts +600 F o o d I ng re die nts, L o g istic s, +110 Othe r Busine sse s (Millio ns o f ye n) 1H F Y2/ 17 [Diffe re nc e fa c to rs] Vs. F o re c a st F o re c a st o o d Pro duc ts Busine ss +170 F Re sults a t b e g inning o f F Y Of which, Sa le s sho rtfa ll a t e xisting pla nts -140 Of which, De c line in utilitie s c o sts 2,800 227 3,027 +240 Ope r ating Of which, Ne w Pla nts inc ome +110 (2.5) <8.1> (2.8) F o o d I ng re die nts, L o g istic s, +60 Othe r Busine sse s *F ig ure s in ( ) sho w sa le s ra tio , a nd fig ure s in < > sho w c ha ng e (%). E stima te s fo r 1H F Y2/ 17 a nno unc e d o n April 13, 2016. 3
Consolidate d ne t sale s by se gme nt (YoY) (Millio ns o f ye n) * F ig ure s in < > sho w c ha ng e (%). F ood Produc ts F ood Ingr e dients Business Busine ss 1H 1H Cha ng e Cha ng e fa c to rs L ogistic s Othe r F Y2/ 16 F Y2/ 17 Busine ss Busine ss (Millions 109,658 108,430 1,227 of ye n) 3,029 T otal ne t 108,430 109,658 4,442 <1.1> 7,490 sale s 7,029 13,318 Inc re a se d d e live ry po int 13,042 90,000 sto re s a nd inc re a se d sa le s 1,902 F o o d 83,917 85,820 g ro wth fo r c hille d b o xe d <2.3> Pro d uc ts me a ls, b re a d pro d uc ts a nd c hille d Ja pa ne se swe e ts 60,000 276 F o o d Hig he r sa le s o f fish ro e , 13,042 13,318 <2.1> Ing re d ie nts sa lmo n a nd tro ut 85,820 83,917 Gro wth in tra nsa c tio n 461 vo lume in jo int d istrib utio n 7,029 7,490 L o g istic s <6.6> b usine ss supplying Se ve n- 30,000 E le ve n Pullb a c k in sa le s in F o o d Ma nufa c turing E q uipme nt -1,412 4,442 3,029 Othe r Busine ss a fte r la rg e o rd e rs <-31.8> in the sa me pe rio d o f the 0 pre vio us fisc a l ye a r 1H F Y2/ 16 1H F Y2/ 17 4
Consolidate d ope r ating inc ome by se gme nt (YoY) * F ig ure s in < > sho w c ha ng e (%). F ood Produc ts F ood Ingre die nts L og istic s (Millio ns o f ye n) Busine ss Busine ss Busine ss Othe r Inte r-se g me nt 1H F Y2/ 16 Cha ng e 1H F Y2/ 17 Busine ss tr a nsa c tions 640 T otal ope r ating 3,027 2,386 3,027 (Millions <26.8> inc ome of ye n) 263 143 2,386 804 232 F o o d Pro d uc ts 1,609 2,414 <50.0> 550 -41 2,000 87 F o o d Ing re d ie nts 274 232 <-15.1> 274 56 L o g istic s 87 143 2,414 <63.8> -287 1,609 Othe r 550 263 <-52.1> Inte r-se g me nt 108 -135 - 27 tra nsa c tio ns <-> (50) -135 - 27 1H F Y2/ 16 1H F Y2/ 17 (Millio ns o f ye n) Impro ve me nt in pro fita bility a t K a g a wa Pla nt +230 Ope r a ting inc ome fr om I mpro ve me nt in pro fita b ility (na rro we r thr e e ne w lo sse s) a t Ura wa Pla nt +230 pla nts up Na rro we r sta rt-up lo sse s a t F o o d 940 million YoY I wa te Pla nt +480 Pro duc ts Busine ss Ope ra ting I nc re a se in pe rso nne l e xpe nse s -350 inc o me fro m De c line in utilitie s c o sts +340 e xisting pla nts I nc re a se in de pre c ia tio n a nd a mo rtiza tio n -60 do wn Othe r -70 140 millio n Yo Y F o o d Ing re die nts, L o g istic s a nd Othe r Busine sse s / Inte r-se g me nt tra nsa c tio ns -160 Ne gative impac t on profits -640 T otal YoY: appr ox. - 640 Positive impac t on profits +1,280 5
Non- ope r ating inc ome / e xpe nse s and e xtr aor dinar y inc ome / losse s in 1H F Y2/ 17 (Millio ns o f ye n) 1H F Y2/ 16 Cha ng e 1H F Y2/ 17 2,386 640 3,027 Ope r ating inc ome (2.2) <26.8> (2.8) 443 483 40 Non- ope r ating (0.4) (0.4) <9.0> inc ome 153 70 223 Non- ope r ating (0.1) <45.9> (0.2) e xpe nse s 2,677 610 3,287 Or dinar y inc ome (2.5) <22.8> (3.0) － － － E xtr aor dinar y ( － ) ( － ) < － > inc ome (Curre nt fisc a l ye a r) 450 Nic hiyo : Pro visio n fo r lo ss o n b usine ss o f 132 317 450 E xtr aor dinar y sub sid ia rie s a nd a sso c ia te s d ue to fixe d a sse t (0.1) <240.2> (0.4) losse s impa irme nt lo sse s fo r F re vo F a rm Co ., L td . 2,545 292 2,837 Inc ome be for e (Yo Y c ha ng e ) 538 (2.3) <11.5> (2.6) inc ome taxe s (1) De c re a se in ta x b re a ks o n c a pita l inve stme nt 324 654 538 1,193 Cur r e nt inc ome (2) Pro visio n fo r lo ss o n b usine ss o f sub sid ia rie s (0.6) <82.4> (1.1) taxe s a nd a sso c ia te s o utsid e the sc o pe o f ta x-e ffe c t a c c o unting 159 1,890 -246 1,644 Pr ofit attr ibutable to *F ig ure s in ( ) sho w sa le s ra tio , (1.7) <-13.0> (1.5) owne r s of par e nt a nd fig ure s in < > sho w c ha ng e (%). 6
Consolidate d balanc e she e ts at e nd- 1H F Y2/ 17 (Millio ns o f ye n) (Millio ns o f ye n) [L iabilitie s and E nd-F Y2/ 16 Cha ng e E nd- 1H F Y2/ 17 [Asse ts] E nd-F Y2/ 16 Cha ng e E nd- 1H F Y2/ 17 ne t asse ts] 5,763 23,423 29,187 Cur r e nt liabilitie s 7,091 30,235 37,326 Cur r e nt asse ts L ong- te r m 1,557 12,381 13,938 liabilitie s 940 47,099 48,040 F ixe d asse ts [Inte r e sting- (1,094) (10,886) (11,980) be ar ing de bt] [T angible fixe d (623) (41,345) (41,969) asse ts] 7,320 35,805 43,126 T otal liabilitie s (254) (689) (943) [Intangible asse ts] 711 41,529 42,240 T otal ne t asse ts [Inve stme nts (62) (5,064) (5,127) - (8,049) (8,049) [Common stoc k] and othe r asse ts] T otal liabilitie s 8,032 8,032 77,334 77,334 85,367 85,367 T otal asse ts and ne t asse ts T o ta l a sse ts a s o f e nd-1H F Y2/ 16: a ppro x. ¥8.0 b illio n inc re a se T o ta l a sse ts a s o f e nd-1H F Y2/ 17: a ppro x. ¥8.0 b illio n inc re a se T o ta l lia b ilitie s/ ne t a sse ts a s o f e nd-1H F Y2/ 17: a ppro x. ¥8.0 b illio n inc re a se 流動資産（売上債権等）の増加 ：約 70 億円 Inc re a se in c urre nt a sse ts (no te s a nd a c c o unts re c e iva b le - tra de , e tc .): I nc re a se in c urre nt lia bilitie s (no te s a nd a c c o unts pa ya b le , e tc .): a ppro x. ¥7.0 b illio n 固定資産の増加 ：約 9 億円 a ppro x. ¥5.7 b illio n I nc re a se in fixe d a sse ts: a ppro x. ¥0.9 b illio n I nc re a se in lo ng -te rm lia bilitie s: a ppro x. ¥1.5 b illio n Inc re a se in ne t a sse ts (re ta ine d e a rning s, o the r c o mpre he nsive inc o me , e tc .) : a ppro x. ¥0.7 b illio n 7
Consolidate d state me nts of c ash flows for 1H F Y2/ 17 (Millio ns o f ye n) 1H F Y2/ 17 I nc o me b e fo re inc o me ta xe s 2,837 De pre c ia tio n a nd a mo rtiza tio n 2,320 De c re a se (inc re a se ) in no te s a nd a c c o unts re c e iva b le - tra de - 3,894 De c re a se (inc re a se ) in inve nto rie s - 487 I nc re a se (de c re a se ) in no te s a nd a c c o unts pa ya b le - tra de 1,954 I nc re a se (de c re a se ) in a c c o unts pa ya b le - o the r 567 Othe r 2,123 Sub to ta l 5,421 I nc o me ta xe s pa id - 283 Othe r 278 Cash flows fr om ope r ating ac tivitie s 5,415 Purc ha se o f ta ng ib le fixe d a sse ts - 843 Othe r - 567 Cash flows fr om inve sting ac tivitie s - 1,411 Cash flows fr om financ ing ac tivitie s - 1,175 E ffe c t of e xc hange r ate c hange on c ash and c ash e quivale nts - 93 Ne t inc r e ase (de c r e ase ) in c ash and c ash e quivale nts 2,736 Cash and c ash e quivale nts at the e nd of pe r iod 9,229 8
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