Disclaimer: This document is a translation of the Japanese original. The Japanese original has been disclosed in Japan in accordance with Japanese accounting standards and the Financial Instruments and Exchange Act. This document does not contain or constitute any guarantee and the Company will not compensate any losses and/or damage stemming from actions taken based on this document. In the case that there is any discrepancy between the Japanese original and this document, the Japanese original is assumed to be correct.

Supplementary Materials

First Quarter of Fiscal 2024

I.

Consolidated Performance Highlights ……………………………………… P. 1

II.

Currency Exchange Rates …………………………………………………… P. 1

III.

Net Sales and Operating Profit by Segment [FY2024 Performance] ……… P. 2-3

July 27, 2023

Nisshin Seifun Group Inc.

The statements contained in this document are based on various assumptions and do not constitute any guarantee or definite promise that projections of future performance or related business policies will actually be realized.

I. Consolidated Performance Highlights

FY2021

FY2022

FY2023

FY2024

1Q

1Q

1Q

1Q

Net sales *1

(Billions of yen)

165.7

159.2

189.3

208.2

Operating profit *1

(Billions of yen)

5.2

7.3

8.9

11.9

Operating profit ratio

(%)

3.1

4.6

4.7

5.7

Ordinary profit *1

(Billions of yen)

6.5

8.8

9.9

13.1

Ordinary profit ratio

(%)

3.9

5.5

5.2

6.3

Profit attributable to owners of parent *1

(Billions of yen)

4.3

5.5

6.3

8.7

Profit attributable to owners of parent ratio

(%)

2.6

3.5

3.3

4.2

*1 The Company applied the "Accounting Standard for Revenue Recognition" (ASBJ No. 29) from the start of FY2022.

Overseas sales

(Billions of yen)

36.7

41.9

60.0

64.0

Overseas sales ratio

(%)

22.2

26.3

31.7

30.7

Overseas operating profit

(Billions of yen)

0.3

1.2

2.3

3.5

Overseas operating profit ratio

(%)

6.3

15.9

26.2

29.3

Capital expenditures (construction base)

(Billions of yen)

3.8

3.9

3.6

6.0

Depreciation and amortization

(Billions of yen)

5.3

5.5

5.6

5.4

Operating profit before amortization of goodwill,

(Billions of yen)

7.1

9.6

11.1

12.6

others *2

Amortization of goodwill, others *2

(Billions of yen)

1.9

2.2

2.2

0.8

*2 "Amortization of goodwill, others" refers to amortization of goodwill and intangible assets (customer-related assets).

FY2024

Forecast

820.0

39.0

4.8

39.5

4.8

26.0

3.2

237.1

28.9

11.3

29.0

26.0

24.0

42.1

3.1

II. Currency Exchange Rates (Average rate during the period)

FY2023

FY2024

1Q

1Q

USD

125.9

135

CAD

99.4

99.3

AUD

91.6

89.6

NZD

84.1

83.3

THB

3.7

3.9

INR

1.7

1.7

(Yen)

FY2023

FY2024

Forcast

134.8 131.0

102.4 96.0

92.8 88.0

84.5 82.0

3.8 3.8

1.7 1.6

-1-

III. Net Sales and Operating Profit by Segment [FY2024 Performance]

Net Sales [FY2024 Performance]

(Billions of yen)

FY2023

FY2024

Composition

Composition

Difference

[Impact of

YoY

1Q

1Q

from

currency

ratio

ratio

previous

exchange rate

Change

year

fluctuations]

Domestic

43.3

22.9%

54.2

26.0%

10.9

125.2%

Flour Milling

Overseas

53.7

28.3%

57.5

27.6%

3.8

[1.5]

107.1%

Total

96.9

51.2%

111.7

53.6%

14.7

115.2%

Domestic

42.0

22.2%

45.1

21.7%

3.1

107.4%

Processed Food

Overseas

4.7

2.5%

4.7

2.2%

(0.1)

[0.1]

98.4%

Total

46.7

24.7%

49.8

23.9%

3.0

106.5%

Prepared Dishes

Domestic

35.4

18.7%

37.4

18.0%

2.0

105.5%

and Other

Overseas

-

-

-

-

-

-

-

Prepared Foods

Total

35.4

18.7%

37.4

18.0%

2.0

105.5%

Domestic

8.6

4.6%

7.5

3.6%

(1.1)

87.1%

Others

Overseas

1.6

0.8%

1.9

0.9%

0.3

[0.0]

119.9%

Total

10.2

5.4%

9.4

4.5%

(0.8)

92.1%

Domestic

129.3

68.3%

144.2

69.3%

14.9

111.5%

Total

Overseas

60.0

31.7%

64.0

30.7%

4.0

[1.7]

106.7%

Total

189.3

100%

208.2

100%

18.9

110.0%

  • Analysis of Net Sales Difference from Previous Year

FY2024

Composition

Forecast

ratio

217.1 26.5%

209.9 25.6%

427.0 52.1%

179.6 21.9%

20.4 2.5%

200.0 24.4%

153.0 18.7%

  • -

153.0 18.7%

33.2 4.0%

6.8 0.8%

40.0 4.9%

582.9 71.1%

237.1 28.9%

820.0 100%

(Billions of yen)

Flour Milling

+14.7

Domestic wheat flour shipments (down 2.7% YoY)

(1.2)

・Flour price revisions accompanying revised wheat prices, others

+11.4

(Incl. effect of new consolidation)

Bran prices

+0.7

Overseas sales

+3.8

Processed Food

+3.0

Processed Food sales

+2.3

Household-use flour sales

(0.1)

Prepared mix product sales

+0.7

Pasta-related sales

+0.8

Frozen food sales

+1.3

Overseas processed food sales

(0.2)

Other

(0.2)

Oriental Yeast sales

+1.0

Nisshin Pharma sales

(0.3)

Prepared Dishes and Other Prepared Foods

+2.0

Prepared dishes and other prepared foods sales

+2.0

Others

(0.8)

NBC Meshtec sales

+0.2

Facility construction sales, others (Nisshin Engineering, others)

(1.0)

Total

+18.9

-2-

Operating Profit [FY2024 Performance]

(Billions of yen)

FY2023

FY2024

FY2024

Difference

[Impact of

YoY

1Q

Composition

1Q

Composition

from

currency

Forecast

Composition

ratio

ratio

previous

exchange rate

Change

ratio

year

fluctuations]

Domestic

2.2

25.0%

3.5

29.6%

1.3

158.2%

9.3

23.8%

Flour Milling

Overseas

1.5

17.1%

3.4

28.4%

1.9

[0.1]

222.6%

10.3

26.4%

Total

3.7

42.1%

6.9

57.9%

3.1

184.3%

19.6

50.3%

Domestic

2.3

25.5%

2.4

20.1%

0.1

105.7%

10.2

26.2%

Processed Food

Overseas

0.6

7.2%

(0.1)

(0.9)%

(0.7)

[0.0]

-

0.5

1.3%

Total

2.9

32.7%

2.3

19.2%

(0.6)

78.8%

10.7

27.4%

Prepared Dishes

Domestic

0.7

7.4%

1.4

12.1%

0.8

220.4%

3.3

8.5%

and Other

Overseas

-

-

-

-

-

-

-

-

-

Prepared Foods

Total

0.7

7.4%

1.4

12.1%

0.8

220.4%

3.3

8.5%

Domestic

1.4

16.3%

0.9

7.9%

(0.5)

65.4%

4.8

12.3%

Others

Overseas

0.2

1.9%

0.2

1.8%

0.0

[0.0]

126.7%

0.5

1.3%

Total

1.6

18.2%

1.2

9.7%

(0.5)

71.7%

5.3

13.6%

Domestic

(0.0)

-

0.1

1.0%

0.1

-

0.1

0.3%

Adjustments

Overseas

-

-

-

-

-

-

-

-

-

Total

(0.0)

-

0.1

1.0%

0.1

-

0.1

0.3%

Domestic

6.5

73.8%

8.4

70.7%

1.8

128.2%

27.7

71.0%

Total

Overseas

2.3

26.2%

3.5

29.3%

1.2

[0.1]

149.7%

11.3

29.0%

Total

8.9

100%

11.9

100%

3.0

133.9%

39.0

100%

Amortization of goodwill, others (Deducted from above)

FY2023

FY2024

Difference from

1Q

1Q

previous year

Flour Milling

1.8

0.4

(1.4)

Processed Food

0.0

0.0

-

Prepared Dishes and Other Prepared Foods

0.4

0.4

-

Total

2.2

0.8

(1.4)

  • Analysis of Operating Profit Difference from Previous Year

FY2024

Forecast

1.5

0.0

1.6

3.1

(Billions of yen)

Flour Milling

+3.1

Domestic wheat flour shipment volume

(0.2)

Sales expansion costs

+0.3

Bran prices

+0.7

Cost related, others (Incl.effect of new consolidation)

+0.4

Overseas operating profit

+1.9

Processed Food

(0.6)

Shipment volume

(0.3)

Sales expansion costs

+0.0

Cost related, others

+0.4

Overseas operating profit

(0.7)

(incl. Oriental Yeast, Nisshin Pharma exports)

Prepared Dishes and Other Prepared Foods

+0.8

Sales

+0.4

Cost related, others

+0.4

Others

(0.5)

Sales

(0.2)

Cost related, others

(0.3)

Adjustments

+0.1

Intersegment transaction eliminations

+0.1

Total

+3.0

-3-

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Disclaimer

Nisshin Seifun Group Inc. published this content on 17 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2023 07:38:05 UTC.