Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

March 1, 2022

Press Release

Company Name: MORINAGA & CO., LTD.

Representative: Eijiro Ota, Representative Director, President

(Code: 2201; First Section of Tokyo Stock Exchange)

Contact: Ayako Kunichika

Executive Officer, General Manager,

Corporate Communication Division

(TEL: +81-03-3456-0150)

Notice Regarding Result of Share Tendering for Morinaga Milk's Acquisition of Own Shares

via ToSTNeT-3

Morinaga & Co., Ltd. (the "Company") hereby announces the result of tendering (the "Transaction") a portion of its held ordinary shares of Morinaga Milk Industry Co., Ltd. ("Morinaga Milk") when Morinaga Milk acquired its own shares on March 1, 2022, via the Tokyo Stock Exchange off-auction own share repurchase trading system (ToSTNeT-3). Details are as follows.

1. Overview of the Transaction

(1)

Number of shares held before tender:

6,289,777 (incl. 1,040,000 deemed held shares)

Ratio of total number of shares issued (excluding treasury shares): 12.70%

(2)

Sale price per share:

5,760 yen

(3)

Number of shares sold:

4,300,000

(4) Total sale amount:

24,768,000,000 yen

(5)

Number of shares held after Transaction:

1,989,777 (incl. 1,040,000 deemed held shares)

Ratio of total number of shares issued (excluding treasury shares): 4.01%

2. Impact on financial results

In the "Notice Regarding Sale of Investment Securities, Booking of Extraordinary Income, and Revision of Full-Year Forecasts", released on February 28, 2022, the Company announced the revision of its consolidated results forecast for the fiscal year ending March 31, 2022, on the assumption of the sale of 4,300,000 ordinary shares of Morinaga Milk.

Because, as announced above, the sale of 4,300,000 ordinary shares of Morinaga Milk held by the

Company was completed today, no changes have been made to the full-year consolidated results forecast announced on February 28, 2022.

(Reference)

Consolidated results forecast for the fiscal year ending March 31, 2022 (as announced on February 28, 2022) and consolidated results for the fiscal year ended March 31, 2021

Profit

Net sales

Operating

Ordinary

attributable to

Net income

income

income

owners of

per share

parent

Consolidated forecast for

Million yen

Million yen

Million yen

Million yen

Yen

the fiscal year ending

179,200

18,000

18,500

28,000

556.91

March 31, 2022

Consolidated results for

the fiscal year ended

168,240

19,176

19,782

13,416

266.73

March 31, 2021

(Note) The Company has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter of the fiscal year ending March 31, 2022. The results for the fiscal year ended March 31, 2021, are the figures after retroactive application of said accounting standard.

*The results forecast in this release has been prepared based on information available as of the date of this release. Actual results may differ from the forecast due to various factors.

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Morinaga & Co. Ltd. published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 01:37:08 UTC.