Member of the Financial Accounting Standards Foundation

Consolidated Financial Summary for
the Second Quarter Ended June 30, 2016 (Japanese Standard)August 12, 2016
Listed company name: Coca-Cola West Company, Limited
Code number: 2579
Delegate: Title: Representative Director, President
Contact: Title: Department Manager, Finance Department
Expected date of quarterly report submission: August 12, 2016
FY 2016 2Q supplementary information: Yes
FY 2016 2Q financial presentation: Yes

Listed stock exchanges: Tokyo and Fukuoka
URL: http://www.ccwest.co.jp/english
Name: Tamio Yoshimatsu
Name: Masakiyo Uike
Phone: +81-92-641-8585
Expected date of the dividend payments: September 1, 2016

(Fractions of one million yen are round off)

１．Consolidated financial results for the 2nd quarter 2016 (from January 1, 2016 to June 30, 2016)（Percentages indicate changes over the same period in the prior fiscal year）（1）Consolidated financial results
Net revenues

Operating income

Profit attributableto owners of parent

Recurring income

Year ended

million yen%million yen%million yen%million yen%

2nd quarter 2016
2nd quarter 2015

219,306
200,994

9.1(1.1)

8,883
2,430265.5(14.9)

8,630
2,295

275.9
(20.2)

4,633
8,857

(47.7)
930.1

Note: Comprehensive income
2Q 2016: 1,299 million yen < (87.2) %>2Q 2015: 10,128 million yen < 296.8% >Diluted earnings
per share

Earnings pershare
Year ended

yenyen

2nd quarter 2016
2nd quarter 2015

42.45
81.15

－－（2）Consolidated financial position
Total assets

Net assets (excl. minorityinterests) to total assets

Net assets

As ofmillion yen

million yen%

2nd quarter 2016
Full year 2015

375,025
378,105

259,854
260,87869.268.9Reference: Net assets (excl. minority interests)
2Q 2016: 259,466 million yen
End of 2015: 260,493 million yen

２．Dividends(Record date)

End of 1QDividends per share
End of 2Q
End of 3Q
Year-end

AnnualYear ended

yen

yen

yen

yen

yen

Full year 2015
Full year 2016
Full year 2016
(forecast)

－－

20.00
22.00

－

21.00

41.00

－

24.00

46.00

Note: Revisions to the cash dividends forecasts most recently announced: Yes
End of 2Q FY 2016 dividend: an ordinary dividend of 21.00 yen, a commemorative dividend of 1.00 yen
FY 2016 ending dividend (forecast): an ordinary dividend of 23.00 yen, a commemorative dividend of 1.00 yen

３．Forecast of consolidated financial results 2016 (from January 1, 2016 to December 31, 2016)（Percentages indicate changes over the same period in the prior fiscal year）

Net revenues
Full year 2016

Operating income

Recurring income

Profit attributableto owners of parent

Earnings
per share

million yen%

million yen%

million yen%million yen%

Yen

460,200

4.5

20,50043.7

18,80037.0

10,8008.3

98.95

Note: Revisions to the forecasts of consolidated financial results most recently announced: Yes

Notes（1）Changes in significant subsidiaries during the current period(changes in specified subsidiaries resulting in change in scope of consolidation)（2）Application of special accounting for preparing the quarterly consolidated financialstatement（3）Changes in accounting policies, changes in accounting estimates, and restatement of priorperiod financial statements after error corrections
1) Changes in accounting policies due to revisions to accounting standards and otherregulations
2) Changes other than those in 1) above3) Changes in accounting estimates
4) Restatement of prior period financial statements after error corrections: None: None: Yes: None: Yes: None

（4）Number of outstanding shares (common share)
1) Number of outstanding shares at the end of period (including treasury shares):
2Q 2016: 111,125,714 shares
FY 2015: 111,125,714 shares
2) Number of treasury shares at the end of period:
2Q 2016: 1,987,992 shares
FY 2015: 1,986,911 shares
3) Average number of outstanding shares at end of period (six months):
2Q 2016: 109,138,332 shares
2Q 2015: 109,140,853 shares* Indication regarding execution of quarterly review procedures
These Consolidated Financial Results are not subject to the quarterly review procedures provided for by the Japanese
Financial Instruments and Exchange Act. And at the time of the disclosure of these Consolidated Financial Results, thequarterly review procedures of the Consolidated Financial Statement have been completed.
* Explanation regarding appropriate use of the forecast, other special instructions
Figures in the above forecast are based on information available to management at the time of announcement.
Due to number of inherent uncertainties in the forecast, actual results may differ materially from the forecast.

Consolidated Results
For The Second-Quarter Ended June 30, 2016
Appendix

1 . Situation of Consolidated Profit and Loss…

2 . Profits Change Factor (vs. plan)…

3 . Profits Change Factor (vs. last year)…

4 . Consolidated Balance Sheet and Change Factor…

5 . Investment, Depreciation, Cash Flow (consolidated)…

6 . Projections (consolidated)…

7 . Sales Information…

8 . Number of Vending Machines, Market Share…

9 . Home Market Share…

10 . Segment Information…

-Creating a happy tomorrow for everyone-

Coca-Cola West Co., Ltd. (2579)
August 12, 2016

11235
67101010

1. Situation of Consolidated Profit and Loss
(January 1, 2016 to June 30, 2016)(million yen, %)2Q 2016
2Q 2015
actualvs. planvs. last year

plan*

actual200,994

213,500

219,306

5,806

2.7

18,312

9.1

Operating income

2,430

4,500

8,883

4,383

97.4

6,452

265.5

Recurring income

2,295

4,200

8,630

4,430

105.5

6,335

275.9

Profit attributable to owners of parent

8,857

2,200

4,633

2,433110.6(4,224)(47.7)Net revenues

change% changechange% change* The above plan is based on performance forecast announced as of February 3, 2016.

2. Profits Change Factor (vs. plan)(January 1, 2016 to June 30, 2016)(million yen)

2Q 2016changeMain factors for increase/decrease

plan*

actualNet revenues

213,500

219,306

5,806

Cost of goods sold103,200

105,8212,621

Gross profit

110,300

113,485

3,185

SG&A

105,800

104,602

Impact from the soft drink business

6,344

Impact from the healthcare and skincare business(537)

Impact from the soft drink business

3,218

Impact form the healthcare and skincare business(33)

Decrease of promotion & ad expenses(358)

Decrease of sales equipment cost

(268)

Decrease of repair expenses(111)

Decrease of supplies expenses(109)(1,197) Decrease of fuel expenses(108)

Increase in personnel cost832

Increase of business consignment expenses

293

Increase of transportation expenses

143

Impact from the healthcare and skincare business (825)Operating income

4,500

8,883

4,383

Non-operating income

400

514

114

Non-operating expenses

700

766

66

Recurring income

4,2008,630

4,430

Extraordinary losses－754754

Profit before income taxes

4,200

7,876

3,676

Total income taxes

1,950

3,210

1,260

Profit

2,250

4,665

2,415

5031(18)

2,200

4,633

2,433

Profit attributable tonon-controlling interests
Profit attributable toowners of parent

Loss on disaster

605

Loss on valuation of investment securities

148* The above plan is based on performance forecast announced as of February 3, 2016.

Appendix-1

3. Profits Change Factor (vs. last year)(January 1, 2016 to June 30, 2016)(million yen)

2Q 2015

2Q 2016Main factors for increase/decreasechangeNet revenues

200,994

219,306

18,312

Cost of goods sold99,742

105,821

6,079

Gross profit

101,252

113,485

12,233

SG&A

Operating income

98,821

104,602

Impact from the soft drink business
Impact from the healthcare and skincare business

Impact from the soft drink business
Impact from the healthcare and skincare business

1,764

Increase of sales promotion & ad expenses

1,483

Increase of sales commission

1,384

5,780 Increase of transportation expenses

360

Increase of repair expenses

108

Decrease of depreciation cost(2,824)

Non-operating income

572

514

(57)

Non-operating expenses

707

766

59

Recurring income

2,295

8,630

6,335

Extraordinary income

8,520

－

Decrease of sales equipment cost(386)Impact from the healthcare and skincare business(293)(8,520) Gain from negative goodwill
Loss on disaster

754

279 Loss on valuation of investment securities
Loss on retirement of fixed assets

Profit before income taxes

10,3407,876(2,464)

Total income taxes

1,469

3,210

1,741

Profit8,871

4,665(4,205)

1331

18

8,857

4,633

(4,224)

Profit attributable toowners of parent336

Increase of bussiness consignment expenses

6,452

Profit attributable tonon-controlling interests

11,896

3,885

8,883

475

171

Increase of personnel cost

2,430

Extraordinary losses

18,140Appendix-2(8,445)605
70(396)

4. Consolidated Balance Sheet and Change Factor(million yen)

Current assets
Cash and deposits
Trade notes and accounts
receivable
Marketable securities
Merchandise andfinished goods
Work in process
Raw materials and supplies
Other
Allowance for
doubtful accounts
Fixed assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment,vehicles, net
Sales equipment, net
LandConstruction in progress
Other, net
Intangible assets
Goodwill
Other
Investments and other assets
Investment securities
Net defined benefit asset
Other
Allowance for
doubtful accounts
Total assets

Dec.31
2015

Jun.302016

157,888
49,955

159,189
56,960

1,301
7,005

30,086

31,5771,490

30,001

14,11027,73531,447

3,712 Increase in inventories for demand season

600
2,305
17,575651
4,580
20,288

50
2,274
2,713

(372)

(426)

(53)

220,217150,178
33,230215,836
153,630
32,187(4,381)
3,452(1,043)

21,381

20,653(728)

30,31363,20469
1,978
38,401
31,762
6,638
31,63735,382
63,102422
1,881
36,36930,611
5,757
25,83622,382

17,223

－
9,830

57
9,152

(574)

(597)

(22)

378,105

375,025(3,079)changeMain factors for increase/decrease(15,890) Decrease by redemption of marketable securities

5,069 Increase by scaling investments for vending machines
(101)
353
(96)
(2,032)(1,151)(881)(5,801)
Decrease by the decline of market capitalization(5,159)of investment securities
57
(677)

Total assets
375,025
378,105

Total
assetsCurrent
assets159,189
157,888

Property,plant andequipment

153,630
150,178
36,36938,401Intangible
assetsInvestments
and otherassets(million yen)Jun.302016
Dec.31
2015

25,836
31,637050,000100,000

150,000

200,000

Appendix-3

250,000

300,000

350,000

400,000(million yen)Dec.31
2015

Jun.302016changeMain factors for increase/decrease

Current liabilities
Trade notes andaccounts payable
Current portion of longterm loans payable
Accrued income taxes
Other accounts payable
Provision for promotion
expenses
Other
Long-term liabilities
Bonds payable
Long-term loans payable

56,00655,432(574)

19,532

21,028

1,495

2,517

1,267

(1,249)2,112
21,426

2,308
22,466

195
1,040

355

382

26

10,061
61,22150,000201

7,978
59,73850,000192(2,082)(1,482)－(8)

Net defined benefit liability

3,375

3,386

11163

178

15

7,480
117,227
256,569
15,231109,072
136,851(4,586)

5,980
115,171258,907
15,231109,072
139,193(4,589)(1,500)(2,056)
2,338
－－
2,341
(3)

3,924

559

(3,365)5,2171,855(3,362)

(177)

(594)

(416)

1765

48

(1,132)

(767)

364

384
260,878387
259,8543(1,023)

378,105

375,025(3,079)Liabilities for directors'
retirement benefits
Other
Total liabilities
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Accumulated othercomprehensive income
Net unrealized gains (loss)
on other marketable secrities

Deferred gains or losses
on hedges
Foreign currencytranslation adjustment
Remeasurements ofdefined benefit plans
Non-controlling interests
Total net assets
Total liabilities andnet assets

Decrease by the decline of market capitalizationof investment securities

Total liabilities and net assets

375,025
378,105

Total liabilities
and net assets

115,171
117,227

Totalliabilities

Jun.302016

55,43256,006

Current
liabilities
Long-term
liabilities

Dec.31
2015

59,73861,221
259,854
260,878

Total net assets(million yen)0

50,000100,000

150,000

200,000

Appendix-4

250,000

300,000

350,000

400,000

5. Investment, Depreciation, Cash Flow (consolidated)(January 1, 2016 to June 30, 2016)(1) Investment, Depreciation(million yen)2Q 2015
Investment

Building and construction
Machinery & Equipment
Sales equipment
OtherTotal
Depreciation

2Q 2016

301
1,621
6,226
1,112
9,261
11,323

452
1,643
7,463
1,585
11,144
8,269(2) Cash Flow(million yen)

2Q 2015
Cash flow fromoperating activities
Cash flow frominvesting activities
Cash flow fromfinancing activities
Cash and cash equivalents
at the end of 2Q

2Q 2016

12,0094,506(18,940)(9,807)

26,038(3,737)61,08970,839Appendix-5

6. Projections (consolidated)(January 1, 2016 to December 31, 2016)(1)Earnings(million yen, %)2015
actualNet revenues
Operating income
Recurring income
Profit attributable to owners of parent

440,476
14,262
13,723
9,970

2016
plan
460,200
20,50018,80010,800(2)Investment, Depreciation(million yen)2015
actualInvestment

Land
Building and construction
Machinery & Equipment
Sales equipment
Other
Total
Depreciation

0650
2,887
10,817
1,826
16,181
24,048

2016
plan
4,755
2,127
6,761
16,452
4,022
34,11817,591

Appendix-6

change19,723
6,237
5,076
829

% change
4.5
43.7
37.0
8.3

7. Sales Information(January 1, 2016 to June 30, 2016)<Sales volume by brand>(thousand cases, %)2Q 2015

Core 8

Coca-Cola
Coca-Cola ZeroFanta
Georgia
Sokenbicha
Aquarius
Ayataka
I LOHAS
OtherTotal (excl. Shikoku)
Shikoku

2Q 2016% change

6,824
2,977
3,617
22,101
4,605
8,515
7,642
6,209
36,552
99,042

7,067
3,246
3,528
23,672
4,553
7,986
8,785
7,583
37,160103,579

3.6
9.0
(2.4)
7.1
(1.1)
(6.2)
14.9
22.1
1.7
4.6

－8,941－Note: Sales volume in 2015 is revised retroactively due to changes of counting segmentation in some products andcalculation method in the affiliated company.

<Composition of brand (excl. Shikoku)>
100%

80%

60%

40%

36.9%

35.9%

6.3%

7.3%

I LOHAS

7.7%

8.5%

Ayataka

8.6%

7.7%

Aquarius

4.6%

4.4%

Sokenbicha

22.3%

22.9%

Georgia

3.7%
3.0%

3.4%
3.1%

Fanta
Coca-Cola Zero

6.9%

6.8%

Coca-Cola

2Q 2015

2Q 2016

Other

20%

0%

Appendix-7

<Sales volume by channel>(thousand cases, %)2Q 2015
Vending*1
Supermarket, etc. *2
CVS*3
Retail*4
Food service*5OtherTotal (excl. Shikoku)

2Q 2016% change

32,76529,77812,604
5,285
11,444
7,166
99,042

32,74531,987
14,022
5,235
11,702
7,888
103,579

(0.1)
7.4
11.2
(0.9)
2.3
10.1
4.6

－

8,941

－

Shikoku

Note: Sales volume in 2015 is revised retroactively due to changes of calculation method in the affiliated company.
*1 Vending : Retail sales business to distribute products through vending machine to consumers*2 Supermarket, etc. : Wholesale business for supermarket, drug store, discount store, etc.
*3 CVS : Wholesale business for convenience store chains*4 Retail : Wholesale business for grocery stores, liquor shops and other over-the-counter outlets*5 Food service : Wholesale business in the food-service market such as fast food restaurants, 'family restaurants', etc.

<Composition of channel (excl. Shikoku)>
100%

80%

7.2%

7.6%

Other

11.6%

11.3%

Food service

5.3%

5.1%

Retail

12.7%

13.5%

CVS

30.1%

30.9%

33.1％

31.6%

2Q 2015

2Q 2016

60%

Supermarket, etc.

40%

20%

0%

Appendix-8Vending<Sales volume by package>(thousand cases, %)2Q 2015

PET

Small-sized (less than 1,000ml)
Medium-sized (less than 1,500ml)
Large-sized (1,500ml or more)
SubtotalCan
OtherSyrup, powder
Total (excl. Shikoku)
Shikoku

2Q 2016% change

28,120662
19,58548,367
26,167
6,311
18,197
99,042

29,844
1,232
20,51951,595
26,638
6,664
18,682
103,579

6.1
86.2
4.8
6.7
1.8
5.6
2.7
4.6

－8,941－Note: Sales volume in 2015 is revised retroactively due to changes of calculation method in the affiliated company.

<Composition of package (excl. Shikoku)>
100%

80%

60%

40%

18.4%

18.1%

Syrup, powder

6.4%

6.4%

Other

26.4%

25.7%

Can

19.8%

19.8%

Large PET
1.2%

0.6%

Medium PET

20%
28.4%

28.8%

2Q 2015

2Q 2016

0%

Appendix-9

Small PET8. Number of Vending Machines, Market Share(1) Number of vending machines(thousand units)

Dec.31
2015

Jun.30
2016

297
22319

Can vending machine
Cup vending machine
Total (excl. Shikoku)change

297
20317

0(1)
(1)

Note: Figures are the combined total of Coca-Cola West Co., Ltd. and its affiliated company Nishinihon Beverage Co., Ltd.

42Shikoku

40(1)

Note: Figures are the number of can and cup vending machines of Shikoku Coca-cola bottling Co.,Ltd. and its affiliated company Shikoku Canteen Co., Ltd.

(2) Market share of vending machines
(%)

2015
Out market share(excl. Shikoku)

2016
－31.3

(Source : McNET Inc., May to June)

9. Home Market Share
(January 1, 2016 to June 30, 2016)(%)

2Q 2015

2Q 2016

Total (excl. Shikoku)
Supermarkets
CVS
Retail stores

22.1
21.8
23.3
18.7

22.8
22.4
23.2
17.8

Drug stores23.2

22.7

Discount stores

22.2

24.8

－

23.7

Shikoku

Note: Market share in 2Q 2015 is revised retroactively due to changes in data acquisition candidates by the research company.
(Source : Intage Inc.)

10. Segment Information(million yen)

2Q 2015

Net revenues
To outside customers
and consumers
Intersegment sales ortransfers

Segment profit

Soft drink

Healthcare andskincare

184,703

2Q 2016
Total

Soft drink

Healthcare andskincare

16,290200,994

202,844

16,462

219,306

184,703

16,290200,994

202,844

16,462

219,306－－－－－－

1,168

1,262

2,430

6,991

1,892

8,883

Total

Note: Net revenues and segment profit are based on net revenues and operating income reported in the consolidated statements of income.

Appendix-10