Kikkoman Corporation
Fact Book
Business Information
Fiscal 2019
- The information in this presentation is based on Kikkoman's best knowledge at the time it was prepared. This presentation does not constitute a promise or guarantee that the company will achieve its numerical targets or necessarily implement the strategies outlined.
-
Changes in fiscal year ends etc.
In 2001, Kikkoman changed its fiscal year from January - December to April - March.
Calendar years in this chart, unless otherwise noted before 2001 represent from January to December, from 2001 onwards represent the fiscal periods from April to March, respectively.
Example. 2000 = January - December 2000, 2018 = April 2018 - March 2019 - Changes in revenue recognition standard
Certain domestic consolidated subsidiaries have changed their revenue recognition standard for fiscal 2014 onwards.
1
2
〔1-1〕Major Business Activities
- Foods-Manufacturing and Sales
Soy Sauce | Food Products | Beverages | Liquor and |
Wine | |||
- Foods-Manufacturing and Sales
Asia & Oceania | North America |
Del Monte | Other Foods |
- Others
Biochemical business, chemicals, logistics and other businesses
- Foods-Wholesale
Sales of oriental food products in Japan and overseas
3
〔1-2〕Consolidated Results for Fiscal 2019
Net Sales :¥ 453,565
Unit: millions of yen
Holding Company and Eliminations | ||||||
Eliminations | -3,242-1% | Eliminations | ||||
-12,605-4% | ||||||
Others | -12,287-7% | |||||
21,427 | Foods-Manufacturing | |||||
12% | Japan | Overseas | Foods- | and Sales | ||
93,510 | ||||||
Foods-Manufacturing and Sales | 183,794 | 273,013 | ||||
Wholesale | 34% | |||||
174,654 | 41% | 60% | 192,109 | |||
95% | 70% |
4
〔1-3〕Consolidated Results for Fiscal 2019 (Net Sales by Division)
Unit: millions of yen
Net Sales-Japan:¥ 183,794
Eliminations
-12,287-7%
Soy Sauce | ||||||
49,781 29% | ||||||
Foods- | Food | |||||
Manufacturing | ||||||
Products | ||||||
and Sales | ||||||
60,188 | 34% | |||||
174,654 | ||||||
95% | Beverages | |||||
53,719 | 31% | |||||
Others | ||||||
21,427 | Liquor and Wine | Eliminations | ||||
12% | ||||||
11,145 | 6% | |||||
-180-0% | ||||||
Net Sales-Overseas:¥ 273,013
Eliminations
-12,605-4%
Foods- | Foods- | Soy Sauce | |
75,394 | 81% | ||
Wholesale | Manufacturing | ||
192,109 | and Sales | ||
70% | 93,510 | ||
34% | Other Foods | ||
12,305 | 13% |
Del Monte 5,810 6%
5
〔1-4〕Consolidated Results for Fiscal 2019 (Operating Profit by Segment)
Operating Profit :¥ 38,417 | Unit: millions of yen | |||||
Eliminations | Holding Company and Eliminations | Eliminations | ||||
31 | -1,106 | -3% | -221 | |||
0% | -1% | |||||
Others | ||||||
1,773 | ||||||
14% | Japan | Foods - Wholesale | Foods- | |||
Foods- | ||||||
12,403 | 8,597 | Manufacturing | ||||
Manufacturing | 32% | Overseas | 32% | and Sales | ||
and Sales | ||||||
10,597 | 27,121 | 18,745 | ||||
69% | ||||||
86% | 71% | |||||
6
〔1-5〕Consolidated Results for Fiscal 2019
(Net Sales and Operating Profit by Geographical Segment)
Unit : millions of Yen | |||
Net Sales :¥453,565 | Operating Profit : ¥38,417 | ||
Holding Company
and Eliminations
-3,242-1%
Japan Overseas 183,794 273,013
41% 60%
6,154 2%
Holding Company
and Eliminations
-1,106
-3%
197,946 | Japan | Overseas | 18,130 | ||
73% | 67% | ||||
12,403 | 27,121 | ||||
32% | 71% | ||||
31,242 | 11% | 4,606 | 17% | ||
37,670 | 14% | ||||
2,559 | 9% | ||||
1,824 | 7% |
North America
Europe
Asia & Oceania
The total of Others and Eliminations within the overseas segment. | 7 |
8
〔2-1〕Overseas - Changes in Kikkoman's Soy Sauce Sales Volume (1974-2018)
1974 Sales Volume=100 | Average Annual Growth Rate 1974-2018 |
7.6% | |
2,470
100
1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Source: Kikkoman Data 9
〔2-2〕Overseas - Changes in Net Sales of Kikkoman Soy Sauce and Breakdown of Sales by Region
2009 Sales =100
200 | |||||||
173 | 182 | ||||||
159 | |||||||
150 | 148 | ||||||
111 | 119 | 127 | 138 | ||||
105 | |||||||
100 | |||||||
100 | |||||||
50
0
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Breakdown of sales by region in Overseas Soy Sauce Business of Kikkoman (2018 Sales)
Others and
Asia &Elimination
Oceania 19%
North
America
Europe63%
17%
Average Annual Growth Rate 2009-2018:6.9%
Note) Figures in the table above represent the actual change on a local currency basis, excluding the translation difference, indexed to consolidated sales in 2009.
10
〔2-3〕Overseas - Changes in Net Sales of Kikkoman Soy Sauce (2009-2018)
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
400
350
300
250
200
150
100
50
0
2009 Sales =100 | 362 | |||||||||||||||||||||||||||||||||
* | ||||||||||||||||||||||||||||||||||
225 | ||||||||||||||||||||||||||||||||||
* | ||||||||||||||||||||||||||||||||||
152 | * | |||||||||||||||||||||||||||||||||
* | ||||||||||||||||||||||||||||||||||
100 | 100 | 100 | ||||||||||||||||||||||||||||||||
North America | Europe | Asia & Oceania | ||
Average Annual Growth Rate | Average Annual Growth Rate | Average Annual Growth Rate | ||
(2009-2018) : 4.8% | (2009-2018) : 9.4% | (2009-2018): 15.4% |
Notes) 1. Figures in the table above represent the actual change on a local currency basis excluding the translation difference, indexed to consolidated sales in 2009.
* 2. (Asia & Oceania) Sales at subsidiaries in China and Taiwan have been included since 2014.11
* 3. (Asia & Oceania) Sales at a subsidiary in China have been included since 2016.
〔2-4〕Overseas - Kikkoman Soy Sauce Production Bases
(As of March, 2019)
Hebei, China | Wisconsin, USA | ||||||
Netherlands | Jiangsu, China | California, USA | |||||
Taiwan
Singapore
12
〔2-5〕Overseas - Changes in Kikkoman's Share of the U.S. Home-Use Soy Sauce Market (Volume)(2009-2018)
Kikkoman | Brand B | Others | |||
100%
50%
58.8 | 57.7 | 57.6 | 56.3 | 55.5 | 55.7 | 56.7 | 58.0 | 57.7 | 57.4 |
0%
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years. | Source: Kikkoman Data | 13 |
〔2-6〕Overseas - Changes in U.S. Market Breakdown of Sales for Kikkoman Soy Sauce (2009-2018)
Home use Food service use Industrial use
160 | 2009 Sales = 100 | 152 | ||||||||
140 | 12% | 13% | 13% | |||||||
120 | 12% | 12% | ||||||||
12% | 12% | |||||||||
100 | 100 | 13% | ||||||||
13% | ||||||||||
12% | 49% | 49% | 50% | |||||||
48% | 49% | |||||||||
80 | 48% | |||||||||
47% | ||||||||||
46% | 46% | 46% | ||||||||
60 | ||||||||||
40 | 37% | |||||||||
20 | 42% | 41% | 41% | 41% | 40% | 40% | 39% | 39% | 38% | |
0 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Source: Kikkoman Data 14
〔2-7〕Overseas - Changes in Consolidated Net Sales of Kikkoman's Foods-Wholesale Business (2009-2018)
2009 Sales = 100
250
200
150
197
100
50
100
0 | |||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Average Annual Growth Rate 2009-2018: 7.8%
Note) Figures in the table above represent actual change on a local currency basis excluding | ||
the translation difference. | Source: Kikkoman Data | 15 |
〔2-8〕Overseas - Locations ofMajor Group Companies in Wholesale Business (As of March, 2019)
Locations of JFC Group Companies
Sweden
Norway
Germany
Netherlands
▲
U.K. ▲▲
France
Italy
Austria
Russia
Canada | ||||||||
▲ | ||||||||
China | ▲ | |||||||
▲ | Japan | U.S.A. | Mexico | |||||
▲ | ▲ | |||||||
▲ ▲ | Taiwan | ▲ | ||||||
▲ | ||||||||
Hong Kong | ||||||||
Thailand | ||||||||
Malaysia | ▲ | |||||||
▲ | New Zealand | Brazil | ||||||
Singapore | ▲ | |||||||
Australia | 16 |
〔2-9〕Overseas -Major Production, Sales and Wholesale Bases in North America (As of March, 2019)
Vancouver * | ||||||||||||
Calgary * | Montréal * | |||||||||||
Seattle | Portland | Toronto* | Boston | |||||||||
New York | ||||||||||||
Folsom | Walworth | Baltimore | ||||||||||
Sacramento | Denver | |||||||||||
Columbus | ||||||||||||
San Francisco | Chicago | |||||||||||
Las Vegas | Production Bases of Soy Sauce | |||||||||||
Los Angeles | Atlanta | (Kikkoman Foods, Inc.) | ||||||||||
San Diego | Phoenix | Dallas | Sales Bases of Soy Sauce | |||||||||
Orlando | ||||||||||||
(Kikkoman Sales USA, Inc.) | ||||||||||||
Baton Rouge | ||||||||||||
Honolulu | ||||||||||||
Houston | Miami | Wholesale Bases | ||||||||||
(JFC International Inc.)
Note) Wholesale bases with an asterisk (*) are bases of JFC International (Canada) Inc. | 17 |
〔2-10〕Overseas -Major Production, Sales and Wholesale Bases in Europe (As of March, 2019)
Stockholm (Sweden)
Oslo
(Norway)
Hoogezand Sappemeer
(Netherlands)
Amsterdam
(Netherlands)
Moscow
(Russia)Production Base of Soy Sauce
(Kikkoman Foods Europe B.V.)
Düsseldorf
Sales Bases of Soy Sauce (Kikkoman Trading Europe GmbH)
London
(U.K.) Paris
(France)
(Germany)
Wholesale Bases (JFC Group)
Wien
(Austria)
Milan | |
(Italy) | 18 |
〔2-11〕Overseas -Major Production, Sales and Wholesale Bases in Asia (As of March, 2019)
Shi Jia Zhuang Beijing
Production Bases of Soy Sauce
President Kikkoman
Zhenji Foods Co., Ltd.
Shanghai | |||
Kunshan | |||
Kikkoman Shanghai | |||
Kunshan President Kikkoman | |||
Trading Co., Ltd. | |||
Biotechnology Co., Ltd. | |||
Sales Bases of Soy Sauce
Hong Kong
Taipei
Wholesale Bases (JFC Group)
Tainan
President Kikkoman Inc.
Bangkok
KTA(Thailand)Co ., Ltd.
Kuala Lumpur
Singapore
Kikkoman (S) Pte Ltd
Kikkoman Trading
Asia Pte. Ltd.
19
〔2-12〕Overseas -Major Production, Sales and Wholesale Bases in Oceania (As of March, 2019)
Sales Base of Soy Sauce
(Kikkoman Australia Pty. Limited)
Brisbane
Perth
Wholesale Bases (JFC Group)
Sydney
Gold Coast
Adelaide
Auckland
Melbourne Canberra Wellington
20
〔2-13〕Overseas - Del Monte Business in Asia & Oceania
Xiamen (China)
Del Monte Foods (Xiamen) Co., Ltd.*3
Areas subject to | |||
trademark licensing | |||
Trat (Thailand) | |||
Siam Del Monte | Production Bases of | ||
Company Limited *2 | Del Monte Products | ||
Sales Base of | |||
Singapore | Del Monte Products | ||
Del Monte Asia Pte Ltd |
Notes) 1. Kikkoman has permanently acquired the trademark and sales rights to Del Monte processed foods in Japan, and Asia and Oceania (except in the Philippines).
2. Siam Del Monte Company Limited is manufacturing products in Tetra Recart packages.21
3. Del Monte Foods (Xiamen) Co., Ltd. is manufacturing tomato ketchup and chili sauce products.
〔2-14〕Overseas - The History of the Overseas Operations
1957 A soy sauce sales company was established in the U.S. (San Francisco, California) 1969 Participated in management of Foods - Wholesale business in the U.S.
1973 Shipments began at a soy sauce production plant in the U.S. (Walworth, Wisconsin) 1979 A soy sauce sales company was established in Europe (Düsseldorf, Germany)
1984 Shipments began at a soy sauce production plant in Singapore
1990 Shipments began at a joint venture soy sauce production plant in Taiwan (Tainan) 1997 Shipments began at a soy sauce production plant in Europe (Hoogezand Sappemeer,
the Netherlands)
1998 Shipments began at the second U.S. soy sauce plant (Folsom, California)
22
〔2-15〕Overseas - The History of the Overseas Operations
2002 Shipments began at a joint venture soy sauce production plant in China (Kunshan, Jiangsu Province)
2006 Shipments began at a joint-venture Del Monte plant in Thailand (Trat Province) 2008 Shipments began at a joint-venture Del Monte plant in China
(Xiamen, Fujian Province)
2009 Shipments began at a joint venture soy sauce production plant in China (Shi Jia Zhuang, Hebei Province)
2014 A soy sauce sales company was established in China (Shanghai)
23
24
〔3-1〕Japan - Changes in Expenditure for Soy Sauce and Tsuyuand Tarein Japanese Family Income and Expenditure Survey
(1992-2018)
(Yen) | Soy Sauce | Tsuyu and Tare | ||
6,000 |
5,000 |
4,000 |
3,000 |
2,000 |
1,000 |
0 |
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 |
Note) Charts and graphs refer to calendar years.
Source: Statistics Bureau, Ministry of Internal Affairs and Communications | 25 |
〔3-2〕Japan - Changes in Soy Sauce Market (Volume) (1990-2018)
(1,000KL)
1,400
1,200
1,000
757,000KL
800
600
400
200
0
1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years.
Source: The Japan Soy Sauce Brewers Association | 26 |
〔3-3〕Japan - Changes in Number of Soy Sauce Breweries (1989-2017)
(Companies)
2,400
2,200
2,000
1,800 | * | |||||||||||||||||||||||||
1,600 | 1,211 | |||||||||||||||||||||||||
1,400 | ||||||||||||||||||||||||||
1,200
1,000
800
1989 1992 1995 1999 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Notes) *1. There has been a change in the way statistics have been compiled.
While the number of Japanese soy sauce breweries increased in 2005 as a result of this change, it is not believed there has actually been a change in the downward trend heretofore.
2.Charts and graphs refer to calendar years.
Source: The Japan Soy Sauce Brewers Association | 27 |
〔3-4〕Japan - Soy Sauce Market Share (Volume) Breakdown by Brand (January-December 2018)
Higashimaru
3.9%
Marukin
4.0%
Shouda
6.5%
Yamasa
11.7%
2nd-Ranked
Major 9 Companies*
16.7%Others
23.5%
Higeta | Kikkoman |
5.1% | 28.6% |
Kikkoman Group Total 33.7% |
*(2nd-Ranked Major 9 Companies)
Ichibiki, Wadakan, Fundokin, Yamamori, Fujijin, Marushichi, | |
Sanbishi, Maruten, Kinoene | 28 |
Source: Nikkan Keizai Tsushinsha | |
〔3-5〕Japan - Changes in Soy Sauce Market Share (Volume) Breakdown (2009-2018)
Kikkoman+Higeta | Yamasa | Shouda | |||||
(%) | Marukin | Higashimaru | 2nd-Ranked Major 9 Companies | ||||
Others | |||||||
100
50
30.0 | 30.5 | 30.7 | 31.2 | 31.8 | 32.7 | 32.7 | 33.2 | 33.4 | 33.7 |
0
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years. | Source: Nikkan Keizai Tsushinsha |
29 |
〔3-6〕Japan - Breakdown of Kikkoman Soy Sauce Shipments by Packages in Market (Volume) (2009-2018)
(%) | Less than 1L | 1L | 1.8L, 2L | Over 2L | |||||
100 | |||||||||
48.9 | 50.2 | 51.4 | 52.8 | 52.5 | 53.3 | 53.1 | 53.3 | 54.3 | 54.8 |
50 | |||||||||
12.8 | 12.0 | 11.5 | 10.8 | 10.1 | 9.3 | 8.9 | 8.4 | 8.0 | 7.8 |
27.0 | 24.4 | 23.9 | 22.5 | 21.9 | 20.4 | 19.4 | 18.4 | 17.3 | 16.4 |
11.3 | 13.4 | 13.2 | 13.9 | 15.5 | 17.0 | 18.6 | 19.9 | 20.4 | 21.0 |
0 | |||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Source: Kikkoman Data | 30 |
〔3-7〕Japan - Changes in Kikkoman Tsuyuand TareSales (1994-2018)
500 | 1994 Sales = 100 | ||||||||||||||||||||||||
424 | |||||||||||||||||||||||||
400 | Launch of | * | |||||||||||||||||||||||
"Yakiniku no Tare" | |||||||||||||||||||||||||
in 1997 | |||||||||||||||||||||||||
300 | Launch of | ||||||||||||||||||||||||
"Hon Tsuyu" | |||||||||||||||||||||||||
in 1995 | |||||||||||||||||||||||||
200 | |||||||||||||||||||||||||
100 | 100 | ||||||||||||||||||||||||
0 | 1994 | 95 | 96 | 97 | 98 | 99 | 00 | 01 | 02 | 03 | 04 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |
Average Annual Growth Rate 1994-2018: 6.2%
Note) *Sales declined in 2016 due to a revision to the price system of Hon Tsuyu. | 31 |
Source: Kikkoman Data |
〔3-8〕Japan - Changes in Seasoning Mixes Market (Home use) (Amount) (2002-2018)
160 | Japanese-Style | Western-Style | Korean and Ethnic | Chinese | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2002 Market = 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
140 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years. | |
Source: INTAGE SRI, Seasoning mixes (normal temperature), | 32 |
January 2002-December 2018, Size of market, Base value (2002 Market total = 100) | |
〔3-9〕Japan - Changes in Japanese-Style Seasoning Mixes* Market (Home use) (Amount) (2002-2018)
800 | 2002 Market = 100 | ||||||||||||||||
700 | 641 | ||||||||||||||||
600 | |||||||||||||||||
500 | Launch of | ||||||||||||||||
400 | "Uchi-no-Gohan" | ||||||||||||||||
in 2002 | |||||||||||||||||
300 | |||||||||||||||||
200 | 100 | ||||||||||||||||
100 | |||||||||||||||||
0 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Notes) *1.The business performance of Japanese-Style Seasoning Mixes is recorded in the Food Products Division in the Company.
2.Charts and graphs refer to calendar years.
Source: INTAGE SRI, Seasoning mixes (normal temperature), | 33 |
January 2002-December 2018, Size of market, Base value (2002 Market total = 100) |
〔3-10〕Japan - Changes in Beverages Market (Volume) (2009-2018)
Production volume in 2009 = 100
Tomato Juice | Vegetable Juice | ||||||||
300 | 261 | ||||||||
250 | |||||||||
200 | |||||||||
150 | 126 | ||||||||
100 | |||||||||
100 | |||||||||
50 | |||||||||
0 | |||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years.
Source: Japan Soft Drink Association | 34 |
〔3-11〕Japan - Changes in Soy Milk Market (Volume) | |||||||||||||||||||||||||||||||||||||||||
(1977-2018) | |||||||||||||||||||||||||||||||||||||||||
(1,000KL) | |||||||||||||||||||||||||||||||||||||||||
400 | 363 | ||||||||||||||||||||||||||||||||||||||||
350 | |||||||||||||||||||||||||||||||||||||||||
300 | |||||||||||||||||||||||||||||||||||||||||
250 | 217 | ||||||||||||||||||||||||||||||||||||||||
200 | |||||||||||||||||||||||||||||||||||||||||
150 | 117 | ||||||||||||||||||||||||||||||||||||||||
100 | |||||||||||||||||||||||||||||||||||||||||
50 | |||||||||||||||||||||||||||||||||||||||||
5 | |||||||||||||||||||||||||||||||||||||||||
0 | |||||||||||||||||||||||||||||||||||||||||
1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years. |
Source: Kikkoman Data (1977-1982), | |
Ministry of Agriculture, Forestry and Fisheries (1983-2014), | 35 |
Japan Soymilk Association (2015-2018) |
〔3-12〕Japan - Changes in Soy Milk Market
(Volume, Breakdown)
Soy milk is defined by the Japanese Agricultural Standards (JAS) and is categorized into three classifications: soy milk, processed soy milk, and soy milk beverages.
Classification | Standard | Main products of Kikkoman | ||||
Soy milk | Solid soybean is 8% or more. | Oishi Muchosei Tonyu(tasty unprocessed soy milk) | ||||
Processed | Solid soybean is 6% or more. | Chosei Tonyu(processed soy milk) | ||||
soy milk | ||||||
(A) Fruit juice beverages: | (A) Tonyu Inryo(soy milk beverage) Fruit Mix | |||||
Soy milk | Solid soybean is 2% or more. | |||||
beverages | (B) Other beverages: | (B) Tonyu Inryo(soy milk beverage) Malt Coffee | ||||
Solid soybean is 4% or more. | ||||||
(1,000KL) | 339 | 363 | ||||
303 | 314 | |||||
256 | 265 | 280 | ||
197 | 209 | 220 | ||
Note) Charts and graphs refer to calendar years.
Source: Ministry of Agriculture, Forestry and Fisheries (2009-2014),36
Japan Soymilk Association (2015-2018)
〔3-13〕Japan - Changes in the Kikkoman's Share of
Soy Milk Market (Volume) (2009-2018)
Kikkoman | Others | |||
100%
50%
53.8 | 55.8 | 52.8 | 52.5 | 51.6 | 51.8 | 51.7 | 51.0 | 52.2 | 52.9 |
0% | |||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
Note) Charts and graphs refer to calendar years. | Source: Kikkoman Data 37 |
〔3-14〕Annual Consumption of Soy Milk and Dairy Milk Beverages by Country (2018)
Soy Milk (1,000 kl) | Dairy Milk Beverages | Soy Milk/Dairy Milk | |
(1,000 kl) | (%) | ||
Hong Kong | 70 | 59 | 117.3% |
Thailand | 709 | 716 | 99.1% |
Philippines | 48 | 105 | 46.1% |
Vietnam | 338 | 956 | 35.3% |
Taiwan | 154 | 457 | 33.7% |
Korea | 216 | 1,272 | 17.0% |
China | 1,626 | 9,813 | 16.6% |
Japan | 363 | 3,463 | 10.5% |
Australia | 80 | 2,303 | 3.5% |
Canada | 65 | 2,506 | 2.6% |
Spain | 86 | 3,537 | 2.4% |
Germany | 79 | 3,746 | 2.1% |
U.S.A. | 232 | 18,290 | 1.3% |
United Kingdom | 77 | 6,377 | 1.2% |
Brazil | 28 | 6,926 | 0.4% |
Notes) 1. | Figures above describe consumption volume from January through December 2018. | |
2. | Volumes in the charts and graphs are for products in containers, excluding powder and bulk sales. "Dairy milk beverages" comprising milk, white | |
milk beverages and processed milk differs from the grouping under the law and industry bylaws. | 38 | |
Source: 2018 Tetra Pak Forecast (figures on soy milk in Japan are the production volume of soy milk in Japan from Japan Soymilk Association) | ||
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〔4-1〕Global Vision 2030
Kikkoman Group Long-Term Vision
"Global Vision 2030"
~Striving with passion to create new values~
Kikkoman Corporation launched "Global Vision 2030" as our new vision of the future for the Kikkoman Group in April 2018. This vision states our "goals" and strategies to achieve these by the year 2030. The Kikkoman Group will work toward our ambitious goals with our theme "Striving with passion to
create new values" for the year 2030.
※For details on the Global Vision 2030, please refer to the following materials.
- Japanese https://www.kikkoman.com/jp/corporate/management/vision2030.html
・English https://www.kikkoman.com/en/corporate/management/vision2030_en.html
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〔4-2〕Outline of Global Vision 2030
Striving with passion to Create New Values
Goals
1Make Kikkoman Soy Sauce a truly global seasoning
2Create new delicious experiences around the world, and contribute to richer, healthier lifestyles
3Become a company whose presence in global society is ever more meaningful, through activities unique to Kikkoman
Challenges toward 2030
Offering No.1 values
1Global No.1 strategy | 2Area No.1 strategy | 3 | Creating | ||
new businesses |
Utilizing management resources
1 | Fermentation and | 2 | Human resources/information/ | |
brewing technologies | cash flow |
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〔5-3〕Recent Business Reorganization and
Equity-Based Business Alliances in Japan (2004-2009)
Mar. 2004 Capital and business alliance with Kibun Foods Group (※)Apr. 2006 Transferred shochubusiness to Sapporo Breweries Ltd.
Jun. 2006 Kibun Food Chemifa Co., Ltd. becomes a consolidated subsidiary of Kikkoman (※)
Jun. 2008 Equity-based business alliances with Riken Vitamin Co., Ltd. (equity method)
Aug. 2008 Kibun Food Chemifa Co., Ltd. becomes a wholly owned subsidiary of Kikkoman (※)
Mar. 2009 Sold over half of interest in consolidated subsidiary Tone Coca-Cola Bottling Co., Ltd. (Coca-Cola business) to Coca-Cola (Japan) Company, Limited
Apr. 2009 Kibun Food Chemifa Co., Ltd. company name changed to Foodchemifa Co., Ltd. (※)
Note) An asterisk (※) shows the business restructuring related to the soy milk business. | 43 |
〔5-4〕Recent Business Reorganization and
Equity-Based Business Alliances in Japan (2010-2016)
Apr. 2010 Kikkoman Beverage Company takes on the beverage sales business of Foodchemifa Co., Ltd.'s Beverage Division through absorption-type company split (※)
Apr. 2011 Integration of the biochemical business, functional material business of the Health Food Sales Department, both in Kikkoman Food Products Company, and the chemicals business of Foodchemifa Co., Ltd.
Apr. 2011 Foodchemifa Co., Ltd. company name changed to Kikkoman Soyfoods Company. (※)
Jun.2016 Sale of 6,600,000 shares of Riken Vitamin Co., Ltd. (with the ratio of voting rights held changing from 34.5% to 6.5%)
(The equity-based business alliances continues.)
Note) An asterisk (※) shows the business restructuring related to the soy milk business. | 44 |
〔5-5〕Recent Business Reorganization and
Equity-Based Business Alliances Overseas (2005-2012)
Mar. 2005 Established Country Life, LLC through joint venture with local partner
Apr. 2006 Country Life, LLC becomes a wholly owned subsidiary of Kikkoman
Sep. 2008 Allergy Research Group acquired through a TOB, becomes a wholly owned subsidiary of Kikkoman
Dec. 2010 Acquired the shares of Yamakawa Trading Co. (Pte) Ltd. (renamed JFC
- Pte. Ltd.) and Yamakawa (H.K.) Limited making them wholly owned subsidiaries.
Aug. 2012 Naoi Group AS (renamed JFC Norden (Norway) AS) and the wholesale and retail divisions of Naoi Group AB are spun off (renamed JFC Norden (Sweden) AB) to make them wholly owned subsidiaries of Kikkoman.
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〔5-6〕Business Overview of Other Food Businesses in North America
<Business Overview of Country Life, LLC>
- Along-established company in the health food industry, it has operated for more than 40 years manufacturing and selling health foods, etc. in the United States. With sales networks across the United States, it is one of the top brands, particularly for its channel of distributors dealing with natural foods.
<Business Overview of Allergy Research Group LLC>
- California-basedhealth foods manufacturer. Sells vitamins, minerals, and other health food products. Possesses strong medical doctor channels.
- Improve production capacity utilization rate by contracting manufacturing of Allergy Research Group LLC products to Country Life, LLC.
- Make complementary use of NewYork-based Country Life, LLC's locations to expand sales area for both companies.
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〔6-1〕Overview of Corporate Governance (As of June 25, 2019)
Basic Approach
The Company regards the enhancement of corporate value through the practice of the Group management philosophy as the basis of business management. To realize this, the improvement and strengthening of the corporate governance system is the most important management issue.
Organization
Structure | Company with Audit & |
Supervisory Board | |
Corporate officer system | Yes |
Executives
Directors | Audit & Supervisory | |
Board Members | ||
Number | 12 (4) | 4 (2) |
(including the number of outside appointments) | ||
Term of office | 1 year | 4 years |
Key steps taken to reinforce corporate governance
Time | Initiative | Purpose | |
March 2001 | Introduced corporate officer system | Clarified management responsibilities and accelerated decision-making and business execution | |
Appointed outside directors | |||
June 2002 | Increased management transparency and strengthened management oversight | ||
Established Nominating Committee and | |||
Remuneration Committee | |||
October 2009 | Adopted holding company structure | Clarified roles and responsibilities of holding company and operating companies and created a | |
structure to maximize Group synergies | |||
Nominating Committee and Remuneration Committee | |||
Composition | Role | ||
Proposes to the Board of Directors the selection and dismissal of directors and corporate | |||
Nominating | 6 members (4 outside directors, 2 directors) | officers as well as the entrustment and removal of managerial positions in addition to the | |
Committee | Committee chaired by an outside director | appointment of audit & supervisory board members. (The Audit & Supervisory Board | |
provides its consent for audit & supervisory board member candidates) | |||
Remuneration | 6 members (4 outside directors, 2 directors) | Decides on remuneration for directors and corporate officers. | 48 |
Committee | Committee chaired by an outside director | ||
〔6-2〕Corporate Governance System (As of June 25, 2019)
General Meeting of Shareholders
Appoint / Dismiss | Appoint / Dismiss | Appoint / Dismiss |
Auditor Accounting | Audit Accounting |
AuditAccounting |
Report | Audit | The Board of Directors | Nominating Committee | ||||||||||||||||||||||
The Audit & Supervisory Board | |||||||||||||||||||||||||
12 directors | |||||||||||||||||||||||||
4 board members | |||||||||||||||||||||||||
(including 4 outside directors) | Remuneration Committee | ||||||||||||||||||||||||
Report | (including 2 outside | ||||||||||||||||||||||||
board members) | |||||||||||||||||||||||||
Audit | Select/Appoint, Supervise | Discussion of important issues and report | |||||||||||||||||||||||
CommitteeManagementRisk | CommitteeAssuranceQuality | ||||||||||||||||||||||||
CEO | CommitteeEthicsCorporate | ||||||||||||||||||||||||
Group Management Committee | CommitteeControlInternal | EnvironmentGeneral CommitteePreservation | |||||||||||||||||||||||
Report | |||||||||||||||||||||||||
Internal Auditing | Holding company | ||||||||||||||||||||||||
Audit | |||||||||||||||||||||||||
Department | |||||||||||||||||||||||||
departments | |||||||||||||||||||||||||
Internal Control | Evaluate | ||||||||||||||||||||||||
Department | |||||||||||||||||||||||||
Report | |||||||||||||||||||||||||
Audit | Evaluate | ||||||||||||||||||||||||
Corporate | Company Holding |
Responsibility Social Committee |
Kikkoman Group companies | companies |
Operational |
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Disclaimer
Kikkoman Corporation published this content on 28 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2019 09:50:12 UTC