Kikkoman Corporation

Fact Book

Business Information

Fiscal 2019

  1. 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.
  2. 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
  3. Changes in revenue recognition standard
    Certain domestic consolidated subsidiaries have changed their revenue recognition standard for fiscal 2014 onwards.

1

2

1-1Major 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

1-2Consolidated 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

1-3Consolidated 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

1-4Consolidated 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

1-5Consolidated 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

2-1Overseas - 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

2-2Overseas - 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 2009-20186.9

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

2-3Overseas - 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.

2-4Overseas - Kikkoman Soy Sauce Production Bases

(As of March, 2019)

Hebei, China

Wisconsin, USA

Netherlands

Jiangsu, China

California, USA

Taiwan

Singapore

12

2-5Overseas - 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

2-6Overseas - 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

2-7Overseas - 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

2-8Overseas - 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

2-9Overseas -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

2-10Overseas -Major Production, Sales and Wholesale Bases in Europe (As of March, 2019)

Stockholm (Sweden)

Oslo

(Norway)

Hoogezand Sappemeer

(Netherlands)

Amsterdam

Netherlands

Moscow

RussiaProduction 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

2-11Overseas -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

KTAThailandCo ., Ltd.

Kuala Lumpur

Singapore

Kikkoman (S) Pte Ltd

Kikkoman Trading

Asia Pte. Ltd.

19

2-12Overseas -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

2-13Overseas - 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.

2-14Overseas - 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

2-15Overseas - 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

3-1Japan - 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

3-2Japan - 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

3-3Japan - 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

3-4Japan - 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*

16.7Others

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

3-5Japan - 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

3-6Japan - 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

3-7Japan - 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

3-8Japan - 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)

3-9Japan - 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)

3-10Japan - 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

3-11Japan - 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)

3-12Japan - 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)

3-13Japan - 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

3-14Annual 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)

39

4-1Global 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

40

4-2Outline 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

41

42

5-3Recent 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

5-4Recent 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

5-5Recent 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

  1. 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.

45

5-6Business 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.

46

47

6-1Overview 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

6-2Corporate 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

49

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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