Kewpie : Summary of Consolidated Financial Statements for the Third Quarter of the Fiscal Year Ending November 30, 2023(531KB)

Summary of Consolidated Financial Statements

for the Third Quarter of the Fiscal Year Ending November 30, 2023

[JAPAN GAAP]

	October 5, 2023
Listed company name:	Kewpie Corporation
Listed exchange:	Tokyo Stock Exchange
Securities code:	2809
URL:	https://www.kewpie.com/en/
Representative:	Mitsuru Takamiya,
	Representative Director, President and Chief Executive Corporate Officer
Contact:	Takumi Tomita,
	Corporate Officer in charge of Accounting and Finance

Scheduled date for filing quarterly securities report: October 13, 2023

Scheduled date for dividend payment: -

Quarterly supplementary data: Yes

Quarterly results briefing: None

(Amounts are rounded down to the nearest million yen.)

1. Consolidated business results for the third quarter of the fiscal year ending November 30, 2023 (From December 1, 2022 to August 31, 2023)

1. Consolidated operating results (Cumulative)

(Percentage figures show changes from the sameperiod of the previous year.)

		Net sales		Operating income
		Millions of yen		%	Millions of yen		%
	Nine months ended	335,897		5.6	13,341		(37.7)
	August 31, 2023
	Nine months ended	318,214		4.7	21,407		(2.3)
	August 31, 2022
	(Note) Comprehensive income: Nine months ended August 31, 2023
		Nine months ended August 31, 2022

Ordinary income	Profit attributable to
owners of parent
Millions of yen	%	Millions of yen	%
15,083	(34.3)	11,081	(23.8)
22,945	(1.9)	14,541	0.1

¥15,207 million (Decrease of 39.5%) ¥25,149 million (Increase of 23.3%)

		Earnings per share	Earnings per share
				(diluted)
			Yen			Yen
	Nine months ended		79.72			-
	August 31, 2023
	Nine months ended		104.61			-
	August 31, 2022
(2) Consolidated financial position
			Total assets			Net assets	Equity ratio
			Millions of yen		Millions of yen	%
	As of August 31, 2023	418,768		302,522	65.5
	As of November 30, 2022	403,384		294,623	66.4
	(Reference) Shareholders' equity:	As of August 31, 2023		¥274,230 million
			As of November 30, 2022	¥267,657 million

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2. Dividends

		Annual dividend per share
	End of 1st	End of 2nd	End of 3rd			Year-end
	quarter	quarter	quarter
	Yen
	Yen	Yen	Yen
Fiscal year 2022	-	20.00	-	27.00
Fiscal year 2023	-	23.00	-
Fiscal year 2023 (Forecast)							27.00

(Note) Revision to the most recently announced forecast of dividends: None

Total

Yen

47.00

50.00

3. Forecasts of consolidated operating results for the fiscal year ending November 30, 2023 (From December 1, 2022 to November 30, 2023)

(Percentage figures show changes from the previous year.)

		Net sales		Operating income	Ordinary income	Profit attributable to	Earnings
			owners of parent	per share
		Millions of yen		%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
	Year ending	453,300		5.3	18,000	(29.2)	19,900	(27.0)	12,000	(25.2)	86.33
	November 30, 2023
	(Note) Revision to the	most recently	announced	forecast of	consolidated	operating results: Yes

*Notes

1. Changes in significant subsidiaries during the nine months (Changes in specified subsidiaries resulting in the change in the scope of consolidation): None
2. Application of special accounting treatments for the preparation of quarterly consolidated financial statements: None
3. Changes in accounting policies and estimates, and restatements
4. 1. Changes in accounting policies due to revision of accounting standards: Yes
   2. Changes in accounting policies due to reasons other than "a)" (above): None
   3. Changes in accounting estimates: None
   4. Restatements: None
5. Number of issued shares (common stock)
6. 1. Number of issued shares at the end of the period (including treasury stock):

August 31, 2023	141,500,000 shares
November 30, 2022	141,500,000 shares
b) Number of shares of treasury stock at the end of the period:
August 31, 2023	2,496,748 shares
November 30, 2022	2,495,894 shares

c) Average number of shares during the period (cumulative from the beginning of the fiscal year):

December 1, 2022 to August 31, 2023	139,003,619 shares
December 1, 2021 to August 31, 2022	139,004,505 shares

• The summary of quarterly consolidated financial statements is outside the scope of quarterly review procedures by certified public accountants or an audit corporation.
• Statement for an appropriate usage of the forecasts of operating results and other special notes

The forecasts and other forward looking statements contained in this summary are based on the information currently available to the Company and certain assumptions considered reasonable by the Company. Therefore, they are not guaranteed to be achieved by the Company. As a result, the forecasts of operating results may differ significantly from the actual operating results due to various factors.

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Table of contents
I. Quarterly consolidated financial statements and major notes	2
1. Quarterly Consolidated Balance Sheets	2

2. Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of

Comprehensive Income	4
(Quarterly Consolidated Statements of Income) (Nine months ended August 31, 2022 and
August 31, 2023)	4
(Quarterly Consolidated Statements of Comprehensive Income) (Nine months ended August
31, 2022 and August 31, 2023)	5
3. Notes Regarding Quarterly Consolidated Financial Statements	6
(Notes regarding assumption of a going concern)	6
(Notes regarding the significant changes in the amount of shareholders' equity)	6
(Changes in accounting policies)	6
(Segment information)	7

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1. Quarterly consolidated financial statements and major notes
   1. Quarterly Consolidated Balance Sheets

				(Millions of yen)
			Previous fiscal year	Current third quarter
			(As of November 30, 2022)	(As of August 31, 2023)
Assets
Current assets
Cash and deposits	57,825	60,304
Notes and accounts receivable - trade	59,414	69,074
Securities	10,000	1,300
Purchased goods and products	20,867	28,702
Work in process	2,659	2,220
Raw materials and supplies	13,551	15,613
Other	3,524	4,826
Allowances for doubtful accounts	(115)	(299)
Total current assets		167,726	181,741
Fixed assets
Tangible fixed assets
Buildings and structures	162,131	162,776
Accumulated depreciation	(97,130)	(100,696)
Net book value		65,001	62,079
Machinery, equipment and vehicles	153,551	154,663
Accumulated depreciation	(111,171)	(113,735)
Net book value		42,379	40,927
Land		30,529	30,763
Construction in progress	3,446	4,245
Other	18,768	19,285
Accumulated depreciation	(13,075)	(13,691)
Net book value		5,693	5,593
Total tangible fixed assets		147,050	143,610
Intangible fixed assets
Goodwill	364	227
Other		15,274	15,792
Total intangible fixed assets	15,639	16,020
Investments and other assets
Investment securities	45,633	49,558
Assets for retirement benefits	18,656	19,344
Other	8,798	8,587
Allowances for doubtful accounts	(119)	(94)
Total investments and other assets		72,969	77,395
Total fixed assets		235,658	237,026
Total assets			403,384	418,768

2

(Millions of yen)

Liabilities Current liabilities

Notes and accounts payable - trade Short-term loans payable Accrued income taxes

Reserves for bonuses Other reserves Other

Total current liabilities

Non-current liabilities

Bonds

Long-term loans payable

Liabilities for retirement benefits

Asset retirement obligations

Other

Total non-current liabilities

Total liabilities

Net assets

Shareholders' equity

Paid-in capital

Capital surplus

Earned surplus

Treasury stock

Total shareholders' equity

Accumulated other comprehensive income Unrealized holding gains (losses) on securities Unrealized gains (losses) on hedges Foreign currency translation adjustments Accumulated adjustments for retirement benefits

Previous fiscal year	Current third quarter
(As of November 30, 2022)	(As of August 31, 2023)
33,051	35,140
3,058	18,571
2,157	2,508
1,487	5,507
155	97
25,342	23,772
65,252	85,598
10,000	10,000
16,070	856
2,840	2,354
267	270
14,330	17,166
43,508	30,647
108,761	116,245
24,104	24,104
28,634	28,637
203,515	207,647
(5,840)	(5,842)
250,413	254,546
9,348	11,587
(1)	50
5,911	6,130
1,985	1,916

Total accumulated other comprehensive income	17,244	19,684
Non-controlling interests	26,965	28,291
Total net assets	294,623	302,522
Total liabilities and net assets		403,384	418,768

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