Kewpie : FY2023 1H Financial Meeting(1.37MB)

FY2023 1H

Financial Meeting

July 5, 2023 Kewpie Corporation

1. Overview of FY2023 1H Results
2. Efforts toward
   2H and Beyond
3. Reference Materials

© Kewpie Corporation All rights reserved.

Notes regarding the information in this document

• The amounts stated in this document are rounded to the nearest 100 million yen when figures are presented in billions of yen.
• The numbers related to Overseas cover the period from October through September of the following year and include exports from Japan. Exports from Japan from December through November of the following year are included in the results.
• Changes Overseas of the first half of FY2023 includes foreign exchange effects (Net sales +¥3.5 billion, operating income +¥0.3 billion). Changes Overseas of year plan for FY2023 includes foreign exchange effects (Net sales +¥4.0 billion, operating income +¥0.4 billion).

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1. Overview of FY2023 1H Results

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Overview of FY2023 1H Results

Summary

Net sales	¥220.4bn
+¥5.5bn
			+¥4.6bn
	Increase in sales (+¥12.9bn)
	¥6.8bn
	+¥9.5bn
Operating income
-¥11.3bn

Decrease in income (-¥7.4bn)	-¥4.6bn

• Increase in unit prices due to price revisions for Food Service and the egg market
• Sales increase due to Overseas growth
• Effect of price revisions
• Impact of a spike in main raw material prices
• Impact of soaring prices of energy and raw materials in general

Ordinary income	¥7.6bn	Profit attributable to	¥4.8bn
							owners of parent
		Decrease in income (-¥7.4bn)		Decrease in income (-¥4.1bn)
	(¥bn)			FY2022	FY2023	YoY change	YoY change
			Results	(%)
	Net sales		207.5	220.4	+12.9	+6%
			Japan	177.7	186.0	+8.2	+5%
			Overseas	29.8	34.4	+4.6	+15%
	Operating income		14.2	6.8	-7.4	-52%
			Japan	13.0	6.6	-6.4	-49%
			Overseas	4.1	3.5	-0.6	-15%
	Company-wide expenses	-2.9	-3.2	-0.3	-
	Ordinary income		15.0	7.6	-7.4	-50%
	Profit attributable to			8.9	4.8	-4.1	-46%
	owners of parent
	Operating income ratio	6.9%	3.1%	-3.8%		4
© Kewpie Corporation All rights reserved.

FY2023 1H Factors behind Changes in Operating Income

Operating income

FY2023 1H ¥6.8bn

YoY change -¥7.4bn

(¥bn)

Factors causing

Factors causing

decreases

increases

-18.6

+11.2

Change in gross profit resulting from

+1.2

+0.2

+1.0

increase (decrease) in net sales

Change in gross profit margin

-7.1

-2.9

-4.2

Of which, the impact of a spike in main

-11.3

-5.7

-5.6

raw material prices

Of which, the effect of price revisions

+9.5

+4.5

+5.0

Of which, the impact of soaring prices

-4.6

-2.2-2.4

of energy and raw materials in general

Of which, others such as a shift to

-0.7

-0.7

+0.0

products with more added value

Sales promotion expenses and

-0.9

-0.3

-0.6

advertising expenses

Transportation and warehousing

+0.5

+0.2

+0.3

expenses

Other selling, general and administrative

-0.8

-0.2

-0.6

(SG&A) expenses

1Q YoY change

Common business/ Company-wide

-0.3

-0.2

-0.1

2Q YoY change

expenses

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