F isc a l Ye a r E nde d F e brua ry 2015 Re sults Brie fing As a food innovator, we handle all aspects of food production and pioneer the evolution of food WARABEYA NICHIYO CO., LTD. (2918) April 10, 2015
Ove rvie w of F ina nc ia l Re sults for F Y2/ 15 a nd F ull- ye a r F ore c a st for F Y2/ 16 (Consolida te d ba sis) 2
Consolida te d fina nc ia l re sults for F Y2/ 15 (Millions of yen) FY2/14 FY2/15 Vs YoY Forecast Results Forecast Re sults 186,531 204,000 15,149 -2,319 201,680 Net sales (100.0) (100.0) <8.1> <-1.1> (100.0) 3,718 4,200 418 -62 Operating 4,137 income (2.0) (2.1) <11.3> <-1.5> (2.1) 3,957 4,500 544 2 Ordinary 4,502 income (2.1) (2.2) <13.8> <0.1> (2.2) 2,272 2,450 502 325 Net 2,775 income (1.2) (1.2) <22.1> <13.3> (1.4) 129.01 139.09 28.54 18.46 EPS (Yen) 157.55 * Figures in ( ) show sales ratio, and figures in < > show change (%). Estimates for FY2/15 announced on October 2, 2014. 3
Ne t sa le s by se g me nt (c onsolida te d ba sis) F ood Produc ts Busine ss F ood Ing re die nts Busine ss (Millions of yen) L og istic s Busine ss Othe r Busine ss (Millions of ye n) FY2/14 Change F Y2/ 15 201,680 200,000 186,531 15,149 186,531 7,226 201,680 12,817 T ota l ne t sa le s 175,048 (100.0) <8.1> 6,092 (100.0) 12,607 6,304 25,227 11,742 23,548 Food Products 144,282 12,127 156,409 150,000 23,340 Business (77.4) <8.4> (77.6) Food 23,548 1,678 25,227 Ingredients 100,000 (12.6) <7.1> (12.5) Business 156,409 144,282 Logistics 12,607 209 133,661 12,817 Business (6.8) <1.7> (6.4) 50,000 6,092 1,133 7,226 Other Business (3.2) <18.6> (3.5) 0 F Y2/ 13 F Y2/ 14 F Y2/ 15 * Figures in ( ) show ratio to total sales, and figures in < > show change (%). Ma jor re a sons for g rowth in c onsolidate d ne t sa le s in F Y2/ 15: a pprox. ¥15.1 billion inc re a se ye a r on ye a r Food Products Business : Increased approx. ¥12.1 billion (Increased delivery point stores and increased sales growth for rice balls and chilled boxed meals) Food Ingredients Business : Increased approx. ¥1.6 billion (Increased sales of processed marine products and processed chicken products) Logistics Business : Increased approx. ¥0.2 billion (Increased orders for delivery to Seven-Eleven stores in Japan) Other Business : Increased approx. ¥1.1 billion (Increased sales of Food Manufacturing Equipment Business) 4
Ope ra ting inc ome by se g me nt (c onsolida te d ba sis) (Millions of yen) F ood Pr oduc ts Busine ss F ood Ing re die nts Busine ss L og istic s Busine ss Othe r Busine ss FY2/14 Change F Y2/ 15 Inte r- se g me nt tra nsa c tions (Millions of ye n) 418 T ota l ope ra ting 3,718 4,137 4,137 <11.3> inc ome 3,918 3,718 513 Food Products 4 296 2,970 508 2,974 209 298 Business <0.2> 3,400 127 387 320 237 Food 82 Ingredients 237 320 <34.8> Business 2,200 170 Logistics Business 127 298 <134.4> 2,970 2,974 2,932 4 1,000 Other Business 508 513 <0.8> Inter-segment 156 -125 30 transactions <–> (200) F Y2/ 13 F Y2/ 14 F Y2/ 15 * Figures in ( ) show ratio to total sales, and figures in < > show change (%). (Millions of yen) Effect of sales stronger Food Products Business turnover +700 Start-up losses at Urawa Plant -600 Operating loss at Kagawa Plant -350* Elimination of earnings impact of (* -450 in FY2/14 -800 in FY2/15) heavy snow falls in FY2/14, other factors +250 Food Ingredients Business +80 Logistics Business +170 Inter-segment transactions +150 <De c re a sing fa c tors> <Inc re a sing fa c tors> Sub- tota l of de c re ase s - 1,000 Sub- tota l of inc re a se s +1,400 T ota l (YoY): a pprox. +400 5
Non- ope ra ting inc ome / e xpe nse s a nd e xtra ordina ry inc ome / losse s in F Y2/ 15 (Millions of yen) FY2/14 Change F Y2/ 15 3,718 418 4,137 Ope ra ting inc ome (2.0) <11.3> (2.1) 686 689 3 Non-operating (0.4) (0.3) <0.5> income 447 324 -122 Non-operating (0.2) (0.2) <-27.4> expenses 3,957 544 4,502 Ordina ry inc ome (2.1) <13.8> (2.2) – 84 84 Extraordinary income (–) (0.0) <–> 89 200 110 Extraordinary losses (0.0) (0.1) <123.0> 3,867 518 Inc ome be fore 4,386 (2.1) <13.4> (2.2) inc ome ta xe s 1,595 16 Curre nt inc ome 1,611 (0.9) <1.0> (0.8) ta xe s 2,272 502 2,775 Ne t inc ome (1.2) <22.1> (1.4) *Figures in ( ) show sales ratio, and figures in < > show change (%). 6
Consolida te d ba la nc e she e ts a t e nd- F Y2/ 15 (Millions of yen) (Millions of yen) [L ia bilitie s a nd End-FY2/14 Change End-FY2/14 Change [Asse ts] E nd- F Y2/ 15 E nd- F Y2/ 15 ne t a sse ts] 4,021 Curre nt 22,031 3,563 29,044 26,053 32,607 Curre nt a sse ts lia bilitie s -370 L ong - te rm 10,223 9,853 2,449 42,059 lia bilitie s 44,509 F ixe d a sse ts [Inte re sting - (-453) (9,425) (8,971) be a ring de bt] [T a ng ible fixe d (1,769) (37,768) (39,537) a sse ts] 3,651 32,255 35,906 T ota l lia bilitie s (231) (348) (580) [Inta ng ible a sse ts] 2,361 38,848 41,210 T ota l ne t a sse ts [Inve stme nts (448) (3,942) [Common – (8,049) (4,391) (8,049) a nd othe r a sse ts] stoc k] 6,013 71,104 T ota l lia bilitie s 6,013 71,104 77,117 77,117 T ota l a sse ts a nd ne t a sse ts Total assets as of end-FY2/15: approx. ¥6.0 billion increase Total liabilities/net assets as of end-FY2/15: approx. ¥6.0 billion increase Increase in current liabilities (accounts payable - other, notes and Increase in current assets (cash and deposits, notes and accounts accounts payable - trade, etc.): approx. ¥4.0 billion receivable - trade, etc.): approx. ¥3.5 billion Decrease in long-term liabilities: approx. ¥0.3 billion Increase in fixed assets: approx. ¥2.4 billion Increase in net assets (retained earnings, other comprehensive income, etc.) : approx. ¥2.3 billion 7
Consolida te d sta te me nts of c a sh flows for F Y2/ 15 (Millions of yen) FY2/14 Change F Y2/ 15 3,867 Income before income taxes 4,386 3,854 Depreciation and amortization 4,382 Decrease (increase) in notes and accounts -1,347 - 1,668 receivable - trade -514 Decrease (increase) in inventories 236 Increase (decrease) in notes and accounts payable 551 1,964 - trade 477 Increase (decrease) in accounts payable - other 2,674 288 Other 803 7,178 Subtotal 12,780 -1,566 Income taxes paid - 1,651 137 Other 109 5,749 5,488 11,238 Ca sh flows from ope ra ting a c tivitie s -2,957 Purchase of tangible fixed assets - 5,752 -323 Other - 308 -3,280 -2,780 Ca sh flows from inve sting a c tivitie s - 6,061 -1,788 -1,275 - 3,064 Ca sh flows from fina nc ing a c tivitie s Ne t inc re a se (de c re a se ) in c a sh a nd c a sh 712 1,421 2,134 e quiva le nts 6,711 2,134 Ca sh a nd c a sh e quiva le nts a t the e nd of pe riod 8,846 8
F ina nc ia l fore c a st for F Y2/ 16 (c onsolida te d ba sis) (Millions of yen) FY2/15 F Y2/ 16 Change Results F ore c a st 201,680 13,319 215,000 Ne t sa le s (100.0) <6.6> (100.0) 4,137 362 Ope ra ting 4,500 (2.1) <8.8> inc ome (2.1) 4,502 97 Ordina ry 4,600 (2.2) <2.2> inc ome (2.1) 2,775 124 2,900 Ne t inc ome (1.4) <4.5> (1.3) 157.55 7.09 E PS (Ye n) 164.64 *Figures in ( ) show sales ratio, and figures in < > show year-on-year change (%). 9
Summa ry of Busine ss Pe rforma nc e in F Y2/ 15 a nd F uture Busine ss Pla ns 10
Summa ry of busine ss pe rforma nc e in F Y2/ 15 Consolidated results Net sales ¥201.6 billion (YoY +8.1%) Sales have expanded more than ¥10.0 billion year on year for four straight years Operating income ¥4.1 billion (YoY +11.3%) Temporary increase in costs related to new plants (Urawa, Kagawa) Ordinary income ¥4.5 billion (YoY +13.8%) Net income ¥2.7 billion (YoY +22.1%) Consolidated net sales exceed ¥200 billion • Urawa Plant dedicated to supply chilled rice products starts • operations (June 2014) Continued growth in chilled products • 11
Pla nne d busine ss de ve lopme nts Continue d imple me nta tion of ke y me dium- te rm stra te g ie s < Key medium-term strategies > (1) Reinforce production capabilities (2) Implement initiatives in growth fields (3) Develop and actively utilize personnel 12
(1) Re inforc e produc tion c a pa bilitie s Expanding and strengthening our presence in the Tohoku area Integrating operation of Iwate Plant and Fukushima Plant WARABEYA NICHIYO CO., LTD. Production Headquarters T ohoku Are a Produc tion Div. Scheduled to start Made a subsidiary operations May 2015 March 2015 Iwa te Pla nt F ukushima Pla nt (forme r WARABE YA F UKUSHIMA CO., L T D.) [Plant Overview] [Plant Overview] Location: Kitakami City, Iwate Pref. Location: Koriyama City, Products: Rice-based products, Fukushima Pref. noodle, delicatessen Products: Rice-based products items Production capacity: Production capacity: 150,000 meals per day 250,000 meals per day Plants exclusively supplying Seven-Eleven Other manufacturing sites 13
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