This flash report is unaudited and the translation of the Japanese language version.
Consolidated Financial Summary for
the Third Quarter Ended September 30, 2022 (IFRS)
November 10, 2022 | ||
Listed company name: Coca-Cola Bottlers Japan Holdings Inc. | Listed stock exchanges: Tokyo | |
Code number: 2579 | URL: https://en.ccbj-holdings.com/ | |
Delegate: | Title: Representative Director & President | Name: Calin Dragan |
Contact: | Title: Head of Controllers Senior Group Division, Finance, Name: Ishikawa Tatsuhiro Phone: +81-800-919-0509 |
Expected date of quarterly report submission: November 11, 2022
Schedule for dividends payment: -
Preparation of supplementary materials on quarterly financial results: Yes
Holding of quarterly financial results conference: Yes
(Fractions of one million yen are rounded off)
1. Consolidated financial results for the third quarter 2022 (from January 1, 2022 to September 30, 2022)
- Consolidated financial results (year-to-date)
(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss) | |||||||||||||||||||||||||||
Revenue | Business income (loss) Operating income | Net income (loss) | attributable to owners of Total comprehensive | ||||||||||||||||||||||||
the parent | income (loss) | ||||||||||||||||||||||||||
million yen | % | million yen | % | million yen | % | million yen | % | million yen | % | million yen | % | ||||||||||||||||
3rd Quarter, 2022 | 612,321 | 3.9 | (11,196) | - | (7,053) | - | (5,191) | - | (5,194) | - | (3,147) | - | |||||||||||||||
3rd Quarter, 2021 | 589,531 | (1.5) | (14,023) | - | (19,978) | - | (1,552) | - | (1,535) | - | 2,428 | - | |||||||||||||||
Earnings (Loss) per share | Diluted earnings per share | ||||||||||||||||||||||||||
yen | yen | ||||||||||||||||||||||||||
3rd Quarter, 2022 | (28.96) | - | |||||||||||||||||||||||||
3rd Quarter, 2021 | (8.56) | ||||||||||||||||||||||||||
- |
*1. "Business Income" is a measure of our recurring business performance that is calculated as costs of goods and selling, general and administrative expenses are deducted from revenue, and other income and expenses which we believe are recurring in nature are added and subtracted accordingly.
2. Net income and Net income attributable to owners of parent for third quarter 2021 results is a total of continuing operation and discontinued operation results.
(2) Consolidated financial position
Total assets | Total equity | Equity attributable to parent owners | Ratio of equity attributable to | ||
parent owners | |||||
million yen | million yen | million yen | % | ||
Sep. 30, 2022 | 831,736 | 478,694 | 478,559 | 57.5 | |
Dec. 31, 2021 | 867,111 | 492,451 | 492,320 | 56.8 |
2. Dividends
Dividends per share | |||||
First quarter | Second quarter | Third quarter | Fiscal year | Total | |
yen | yen | yen | yen | yen | |
FY ended December 2021 | - | 25.00 | - | 25.00 | 50.00 |
FY ending December 2022 | - | 25.00 | - |
FY ending December 2022 | 25.00 | 50.00 | |||
(forecast) | |||||
Note: Revisions to the cash dividends forecasts most recently announced: None |
3. Forecast for consolidated financial results 2022 (With January 1, 2022 to December 31, 2022)
(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss) | Earnings per | |||||||||||||
Revenue | Business income (loss) | Operating income (loss) | Net income (loss) | attributable to owners of the | ||||||||||
parent | share | |||||||||||||
million yen | % | million | % | million yen | % | million yen | % | million yen | % | yen | ||||
yen | ||||||||||||||
Full year of 2022 | 819,700 | 4.3 | (14,600) | - | (11,100) | - | (7,900) | - | (7,900) | - | (44.05) | |||
Note: Revisions to the forecasts of consolidated operating results most recently announced: None |
Notes | ||
(1) Changes in significant subsidiaries during the current period: | None | |
(2) Changes in accounting policies and changes in accounting estimates: | ||
1) | Changes in accounting policies as required by IFRS: | None |
2) | Changes other than the accounting policies in 1) above: | None |
3) | Changes in accounting estimates: | Yes |
- For details, please refer to "2. Condensed Consolidated Financial Statements and Notes (4) Notes to Condensed Consolidated Financial Statements (Changes in Accounting Estimates)" on page 12 of the attached materials.
- Number of outstanding shares (common shares)
1) The number of outstanding shares (including treasury shares):
3rd Quarter, September 2022: | 206,268,593 shares |
FY Ended December 2021: | 206,268,593 shares |
2) The number of treasury shares: | |
3rd Quarter, September 2022: | 26,927,411 shares |
FY Ended December 2021: | 26,924,631 shares |
3) The number of average shares outstanding: | |
3rd Quarter, September 2022: | 179,342,725 shares |
3rd Quarter, September 2021: | 179,346,486 shares |
- The consolidated financial summary is not subject to quarterly review procedures conducted by certified public accountant or audit firm.
- Explanation regarding appropriate use of the forecast, other special instructions
The figures in the above forecast are based on information available at the time of issuance of this report, and the actual results may be changed materially due to a number of inherent uncertainties in the forecast. Furthermore, please refer to "1. Qualitative Information on the Financial Summary for this Quarter (3) Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results" on page 5 for matters relating to performance forecasts.
Table of Contents | ||
1. Qualitative Information on the Financial Summary for this Quarter ..................................................................................................... | 2 | |
(1) | Qualitative Information on Consolidated Financial Results............................................................................................................. | 2 |
(2) | Qualitative Information on Consolidated Financial Position ........................................................................................................... | 5 |
(3) | Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results ............................................. | 5 |
2. Condensed Consolidated Financial Statements and Notes .................................................................................................................... | 6 | |
(1) | Condensed Consolidated Statement of Financial Position............................................................................................................... | 6 |
(2) | Condensed Consolidated Statements of Income and Comprehensive Income................................................................................. | 8 |
(3) | Condensed Consolidated Statements of Changes in Equity........................................................................................................... | 10 |
(4) | Notes to Condensed Consolidated Financial Statements ............................................................................................................... | 12 |
(Notes Relating to Going Concern Assumption) ............................................................................................................................. | 12 | |
(Changes in Accounting Estimates) ................................................................................................................................................. | 12 | |
(Segment Information) .................................................................................................................................................................... | 12 |
1
1. Qualitative Information on the Financial Summary for this Quarter
- Qualitative Information on Consolidated Financial Results
Coca-Cola Bottlers Japan Holdings Inc. ("CCBJH," the "Company," or "we") announced third quarter results for the fiscal year ending December 31, 2022 (January 1, 2022, to September 30, 2022).
In this year-to-date third quarter period (January 1, 2022 to September 30, 2022), the total domestic nonalcoholic ready-to-drink (NARTD) beverage industry volume is estimated to have grown by 5% to the same period of the previous fiscal year. This was due to continued recovery in the number of people returning to the streets of Japan since the lifting of restrictions on activities due to COVID and the heat wave contributing to volume growth. On the other hand, the business environment remained uncertain and challenging as the severe competitive environment continued and rising commodity prices as well as the rapid acceleration of the yen's depreciation impacted businesses and consumer behavior.
Under these circumstances, we have positioned 2022 as the "year of building a foundation for sustainable growth" and have been working to build a foundation for steady and sustainable growth and to promote further transformation. In commercial activities, we worked to grow sales volume and sales revenue by introducing new products, responding to diversifying consumer needs, and executing effective campaigns to capture opportunities for the recovery in traffic. In addition, as part of our profitability focused pricing strategy, we implemented price revisions for large PET in May and engaged in negotiations with customers on price revisions for small packages to be implemented from October 1. In manufacturing and supply chain fields, while faced with rising commodity prices, we have been building a supply chain that can flexibly respond to sudden changes in demand by revamping our Sales and Operations Planning process and leveraging our Saitama and Akashi Mega Distribution Centers, two of the largest automated distribution centers in Japan by storage and shipping capacities. Despite the sharp increases in demand with the recovery in traffic and the heat wave, these efforts have resulted in a stable supply of our products.
We are realizing ESG targets that are based on creating shared value with society. In the third quarter, we were awarded a Silver rating by the globally recognized EcoVadis sustainability survey for the second consecutive year. Moreover, aiming for greater sustainable materials used in PET bottles to realize a World Without Waste, we have been working on the design aspects of product packaging,and establishing a solid bottle collection and recycling scheme in collaboration with local governments and partner companies. In other areas, we are conserving water sources, donating our products to food banks and placing vending machines to support local communities.
Details for the year-to-date third quarter earnings are as follows. Please also refer to our earnings presentation material posted on the Company IR website (https://en.ccbj-holdings.com/ir/library/presentation.php) to be used in our earnings conference call on Friday, November 11, 2022 at 1:30 PM (JST). These will include details of the results and full-year outlook. The earnings presentation audio will be available live and on demand as an audio webcast on our company website.
2
Summary of Consolidated Financial Results
(Millions of yen, excluding sales volume)
Year-to-date Q3 (January 1 to September 30)
2021 | 2022 | Change | |
(%) | |||
Revenue | 589,531 | 612,321 | 3.9 |
Sales volume (million cases) | 351 | 367 | 5 |
Gross Profit | 260,823 | 267,317 | 2.5 |
Selling, General & Administrative Expenses | 273,868 | 278,322 | 1.6 |
Other income (Recurring) | 650 | 694 | 6.7 |
Other expenses (Recurring) | 1,507 | 942 | (37.5) |
Investment income (loss) on equity method | (121) | 57 | - |
Business Income (Loss) | (14,023) | (11,196) | - |
Other income (Non-recurring) | 5,584 | 7,438 | 33.2 |
Other expenses (Non-recurring) | 11,539 | 3,295 | (71.4) |
Operating Income (Loss) | (19,978) | (7,053) | - |
Net Income (Loss) Attributable to Owners of the Parent | (1,535) | (5,194) | - |
(Millions of yen, excluding sales volume) | |||
(For reference) Q3 (July 1 to September 30) | |||
2021 | 2022 | Change | |
(%) | |||
Revenue | 220,222 | 236,373 | 7.3 |
Sales volume (million cases) | 134 | 143 | 7 |
Gross Profit | 97,554 | 104,179 | 6.8 |
Selling, General & Administrative Expenses | 96,574 | 97,047 | 0.5 |
Other income (Recurring) | 235 | 173 | (26.4) |
Other expenses (Recurring) | 452 | 276 | (38.9) |
Investment income on equity method | 12 | (4) | - |
Business Income | 776 | 7,025 | 805.6 |
Other income (Non-recurring) | 982 | 780 | (20.6) |
Other expenses (Non-recurring) | 3,486 | 426 | (87.8) |
Operating Income (Loss) | (1,728) | 7,379 | - |
Net Income (Loss) Attributable to Owners of the Parent | (1,181) | 4,705 | - |
Note: 1. "Business Income (Loss)" is a measure of our underlying or recurring business performance. Business Income (loss) deducts cost of sales and selling, general and administrative expenses from revenue, and includes other income and expenses which we believe are recurring in nature.
2. Net Income (Loss) Attributable to Owners of Parent in 2021 is a total of continuing operation and discontinued operation results.
3
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Coca-Cola Bottlers Japan Inc. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 07:46:07 UTC.