March 1, 2017
To Whom it May Concern,
C o m p a n y
Representative

C o c a - C o l a W e s t Company, Limited
Tamio Yoshimatsu
Representative
Director andPresident( T S E / F S E
C o d e2 5 7 9 )I n q u i r i e s Director/Senior
Exec.Officer, Planning & Yas un ori Kog a
Finance Division（TEL 092-641-8774）
C o m p a n y C o c a - C o l a East Japan C o . , L t d .
Representative Representative
Calin Dragan
Director andPresident( T S E C o d e
2 5 8 0)I n q u i r i e s Senior Executive
Officer Finance
Johan Rolf
Function（TEL 03-5575-3859）

Submission of Form F-4 to the U.S. Securities and Exchange Commission
As announced on September 30, 2016 in “Announcement Regarding Proposed Integration and Share Exchange
Agreement between Coca-Cola West Co., Ltd. and Coca-Cola East Japan Co., Ltd., and Shift to Holding Company Structure
through Company Split, Change of Trade Name and Partial Amendment of Articles of Incorporation of Coca-Cola West Co.,
Ltd.; Integrated Company to be Named Coca-Cola Bottlers Japan Inc.”, Coca-Cola West Company, Limited (hereinafterreferred to as “CCW”) and Coca-Cola East Japan Co., Ltd. (hereinafter referred to as “CCEJ”) have been working for thebusiness integration of the companies (hereinafter referred to as the “Business Integration”) to be effective on April 1, 2017upon the approvals at the general meetings of shareholders of both companies.
Please be informed that CCW filed a Form F-4registration statement (hereinafter referred to as “Form F-4”) to the U.S.
Securities and Exchange Commission (hereinafter referred to as “SEC”) on February 24, 2017 (US Eastern Time) as requiredby the United States Securities Act in conjunction with Business Integration, and it became effective on February 28, 2017
(US Eastern Time).

1. Details of the filed Form F-4
Form F-4 includes consolidated financial statements prepared in accordance with International Financial ReportingStandards (hereinafter referred to as “IFRS”), as well as qualitative information such as the structure of the Business1Integration, business overview of CCW and CCEJ, and analyses on the financial condition and results of operations ofboth companies. The consolidated financial statements under IFRS were prepared for the purpose of filing the Form
F-4 with the SEC in connection with the Business Integration. For future adoption of IFRS in Japan, appropriate actions
will be made taking various factors into consideration.
We plan to file an annual report on Form 20-F, which will include consolidated financial statements under IFRS as ofand for the year ended December 31, 2016, with the SEC.

2. Access to the filed Form F-4
Form F-4 can be viewed on ”EDGAR” (Electronic Data Gathering, Analysis, and Retrieval system), an electronic
disclosure system run by SEC.
(https://www.sec.gov/Archives/edgar/data/1672908/000119312517054853/0001193125-17-054853-index.htm)<Reference>
Major financial information of CCW and CCEJ under IFRS included in Form F-4(1) CCW
・ Consolidated Financial Results for the Year Ended December 31, 2015 [IFRS]・ Consolidated Statements of Financial Position (as of the date transferred to IFRS, for the Year Ended December
31, 2014 and 2015)
・ Consolidated Statements of Profit or Loss (for the Year Ended December 31, 2014 and 2015)
・ Consolidated Statements of Comprehensive Income (for the Year Ended December 31, 2014 and 2015)
・ Primary Differences between Japanese GAAP and IFRS (for the Year Ended December 31, 2015)
・ Consolidated Financial Results of Q2 for the Year Ended December 31, 2016 [IFRS]・ Consolidated Statements of Financial Position (for the Year Ended December 31, 2015 and for Q2 of the Year
Ended December 31, 2016)
・ Consolidated Statements of Profit or Loss (for Q2 of the Year Ended December 31, 2015 and 2016)
・ Consolidated Statements of Comprehensive Income (for Q2 of the Year Ended December 31, 2015 and 2016)(2) CCEJ・ Consolidated Financial Results for the Year Ended December 31, 2015 [IFRS]・ Consolidated Statements of Financial Position (as of the date transferred to IFRS, for the Year Ended December
31, 2014 and 2015)
・ Consolidated Statements of Profit or Loss (for the Year Ended December 31, 2014 and 2015)
・ Consolidated Statements of Comprehensive Income (for the Year Ended December 31, 2014 and 2015)
・ Primary Differences between Japanese GAAP and IFRS (for the Year Ended December 31, 2015)
・ Consolidated Financial Results of Q2 for the Year Ended December 31, 2016 [IFRS]・ Consolidated Statements of Financial Position (for the Year Ended December 31, 2015 and for Q2 ofthe Year
Ended December 31, 2016)
・ Consolidated Statements of Profit or Loss (for Q2 of the Year Ended December 31, 2015 and 2016)
・ Consolidated Statements of Comprehensive Income (for Q2 of the Year Ended December 31, 2015 and 2016)2

Please note that the reference materials attached are excerpts from financial statements and other information in theForm F-4 and they are not intended to comprehensively reflect the contents included in the Form F-4.
Thank you,3

In conjunction with Business Integration, CCW filed Form F-4 to SEC. Form F-4 includes the prospectus and otherdocuments. The Form F-4 has been declared effective, and CCW has arranged the prospectus contained in the Form F-4 tobe distributed to CCEJ’s shareholders who are resident in the U.S., prior to the General Shareholders’ Meeting at which
the Business Integration will be voted upon. The Form F-4 and the prospectus, as they may be amended from time totime,include important information related to both companies, the Business Integration, and other relevant data. We
request that the CCEJ’s U.S. shareholders, to which the said prospectus are distributed, carefully read through Form F-4,
which was filed to SEC with respect to the Business Integration, the prospectus, and other documents, prior to exercising
the voting rights for the Business Integration at the General Shareholders’ Meeting. All document submitted to SEC withrespect to the Business Integration are available free of charge on the SEC’s homepage (www.sec.gov). In addition, such
documents may be mailed free of charge upon request. To make a request, please contact the person below:
Company Name： Coca-Cola West Company, Limited
Address： 7-9-66, Hakozaki, Higashi-ku, Fukuoka-shi, Fukuoka, Japan, 812-8650
Person in charge： Masakiyo Uike, Finance Department
Tell： +81-92-641-8585

Email：masakiyo-uike@ccwest.co.jp

4Summary of Consolidated Financial Statements (IFRS)
for the Fiscal Year Ended December 31st, 2015
March 1, 2017
Stock Exchange:
Tokyo Stock Exchange/ Fukuoka Stock Exchange

Listed Company Name:

Coca-Cola West Company, Limited

Security Code:2579

URL: http://www.ccwest.co.jp/

Representative:（Title）

Representative Director & President（Name）Tamio Yoshimatsu（Amounts are rounded to the nearest one million yen）

１． Consolidated Financial Results for the Fiscal Year Ended December 31, 2015
（1）Consolidated Operating Results
Operating
Net Sales
Profit before tax
IncomeFY 2015
FY 2014

Net profit attributableto Owners of the parent

Total comprehensive
incomeMillion Yen

Million Yen

Million Yen

Million Yen

Million Yen

Million Yen

429,289414,230

13,822
9,775

13,717
10,043

9,717
6,300

9,649
6,267

12,4997,559

Net Income per
Share
FY 2015
FY 2014

Net profit

Diluted Net Income
per Share
Yen

Yen

88.40
57.42

-

（2）Consolidated Financial Position
Total Assets
FY 2015
FY 2014Net Assets

Million Yen

Million Yen

431,472
391,421

293,068
285,109（3）Consolidated Cash FlowsNet cash flows fromoperating activitie s
FY 2015
FY 2014

Net cash flows used ininvesting activitie s

Net cash flows from / (used in)f i na n ci n g ac ti v it i e s

Cash and cash equivalents
at the end of the year

Million Yen

Million Yen

Million Yen

Million Yen

44,52336,459(28,961)(17,191)

22,282(37,576)

79,82841,9835

【CONSOLIDATED STATEMENTS OF FINANCIAL POSITION】
Coca-Cola West Company, Limited(Millions of yen)
January 1, 2014

December 31, 2014

December 31, 2015

AssetsCurrent assets
Cash and cash equivalents

60,27541,98379,828Trade and other receivables

36,19436,43938,536

Other financial assets

11,108

1,114

1,077

Inventories

29,772

29,57531,555

Other current assets

1,466

2,112

2,351

Total current assets

138,815

111,223

153,347

Property, plant and equipment

189,024

184,212

189,519

Goodwill and Intangible assets

56,823

58,83549,378Investment property

6,261

5,431

5,008

Equity-method investees

504

961

969

Other financial assets

22,614

23,691

26,961

Deferred tax assets

10,779

6,270

5,867

Other non-current assets

218

798

423

Total non-current assets

286,223

280,198

278,125

425,038

391,421431,472

Non-current assets

Total assets

6Coca-Cola West Company, Limited(Millions of yen)
January 1, 2014

December 31, 2014

December 31, 2015

Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

41,33541,95744,251

Borrowings and bonds payable

32,518

2,568

2,518

Other financial liabilities

525

346

370

Income taxes payable

3,034

1,917

1,983

Other current liabilities

7,949

9,422

11,235

Total current liabilities

85,361

56,21060,35725,081

22,58949,974

Other financial liabilities

740

1,289

1,273

Defined benefit liabilities

11,196

8,360

7,561

Deferred tax liabilities

17,46415,027

16,088Provisions

984

995

1,030

Other non-current liabilities

2,149

1,842

2,121

Total non-current liabilities

57,614

50,102

78,047

142,975

106,312

138,404

Share capital

15,232

15,232

15,232

Capital surplus

109,072

109,072

109,072

Treasury shares(4,578)(4,581)(4,587)Retained earnings

156,667

158,602164,355

Other reserves

5,293

6,409

8,612

281,686

284,734

292,684

377

375

384

282,063

285,109

293,068

425,038

391,421431,472

Non-current liabilities
Borrowings and bonds payable

Total liabilities

EquityEquity attributable to owners of theCompany:

Total equity attributable to owners of theCompany

Non-controlling interests
Total equity
Total liabilities and equity

7

【CONSOLIDATED STATEMENTS OF PROFIT OR LOSS】
Coca-Cola West Company, Limited(Millions of yen)
Year ended
December 31, 2014

Year ended
December 31, 2015

Net sales

414,230

429,289

Cost of sales

230,677

235,795

Gross profit

183,553

193,494

Selling, general and administrative expenses

170,930

177,498

Other income

1,501

8,622

Other expense

4,857

10,467

Share of profit/(loss)of equity-method investees

508

(329)

Operating profit

9,775

13,822Finance income

942

587

Finance expense

674

692

Profit for the year before income tax

10,043

13,717

Income tax expense

3,743

4,000

Net profit for the year

6,300

9,717

Owners of the Company

6,267

9,649

Non-controlling interests

33

68

57.42

88.40

Net profit for the year attributable to:Earnings per share
Basic and diluted earnings per share (yen)8【CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME】

Year ended
December 31, 2014
Net profit for the year

Coca-Cola West Company, Limited(Millions of yen)
Year ended
December 31, 2015

6,300

9,717

Remeasurement of defined benefit pension plans

158

588

Share of other comprehensive loss of equity-method investees

(15)

(9)

143

579

Gains on available-for-sale financial assets

1,100

2,202

Foreign currency translation differences of foreign operations

16

1

1,116

2,203

Total other comprehensive income for the year, net of tax

1,259

2,782

Comprehensive income for the year

7,559

12,499Owners of the parent

7,526

12,431

Non-controlling interests

33

68

Other comprehensive income, net of tax
Items that will not be reclassified subsequently to profit or loss

Sub-total
Items that may be reclassified subsequently to profit or loss

Sub-total

Comprehensive income attributable to：9

【Primary Differences between Japanese GAAP and IFRS (December 31, 2015)】
Key reconciliation items related to total equity resulting from the adoption of IFRS are as follows:(Millions of yen)
December 31, 2015
Japanese GAAP

260,878

A. Revenue recognition(669)

B. Property, plant and equipment

43,521

C. Goodwill

3,435

D. Financial instruments

1,404

E. Employee benefits(5,938)

F. Transport and distribution costs

1,537

G. Government grant(684)

H. Business combination-

I. Income tax expenses(11,169)

Others753

IFRS

293,068

Key reconciliation items related to comprehensive income for the year resulting from the adoption of IFRS are as follows:(Millions of yen)
For the year ended December 31, 2015
Profit before
income taxes

Income tax
expenseNet profit

Other
comprehensive
incomeTotal
comprehensive
incomeJapanese GAAP

15,229(5,240)

9,989

1,229

11,218

A. Revenue recognition
B. Property, plant and equipment
C. Goodwill
D. Financial instruments
E. Employee benefits
F. Transport anddistribution costs(169)(1,057)785
71(1,041)

44
2,285

-

(175)
(54)

(125)
1,228
785
(104)
(1,095)

281
715

(125)
1,228
785
177
(380)

27

27

54

-

54

G. Government grant

23

(37)

(14)

-

(14)

H. Business combination

155

(120)

35

15

50

I. Income tax

(75)

(707)

(782)

61

(721)

13,717(4,000)

9,717

2,782

12,499IFRS

A. Revenue recognition
a. Under Japanese GAAP, the Group recognizes revenue when goods are shipped from its warehouses. Under IFRS, revenue isrecognized when the goods have been delivered and accepted by the end-customer.
b. Under Japanese GAAP, estimated cost to be incurred from utilization of points granted to customers is recognized as a provision forpoint service program. Under IFRS, the fair value of benefits to be exchanged for the points are deferred and recognized as revenues
when the customers utilize those points.
B. Property, plant and equipment
Under Japanese GAAP, a declining balance method was applied to majority of the property plant and equipment as a matter of policy
choice. Under IFRS the straight-line method is applied considering the pattern of consumption of the economic benefits embodied inthose assets. Under Japanese GAAP, useful lives of property, plant and equipment are determined with reference to Japanese tax
regulations. Under IFRS useful lives of property, plant and equipment are determined based on the period in which the asset’s future
economic benefits are expected to be consumed.

C. Goodwill
Under Japanese GAAP, goodwill is amortized over a period in which the economic benefits are expected to be realized.
Under IFRS, goodwill is not amortized and instead is tested for impairment at least annually.

10

D. Financial instruments
a. Under Japanese GAAP, transaction costs related to the issuance of bonds were recognized as an expense as incurred.
Under IFRS, transaction costs are deducted from the related liability. After initial recognition, the bonds are measured
at amortized cost using the effective interest method.
b. Under Japanese GAAP, equity securities with unquoted market price are measured based on their historical costs andare impaired when necessary. Under IFRS, they are classified as available-for-sale financial assets and measured atfair value.
c. Under Japanese GAAP, impairment loss on investment in equity securities with quoted market price classified asavailable-for-sale are recognized only if the fair value of the investment has declined significantly. Under IFRS,
impairment losses on these investments are recognized if there is objective evidence that an available-for-saleasset is impaired.
E. Employee benefitsa. Upon transition to IFRS, unused paid absences are recognized as other current liabilities. Such accrual is not required
under Japanese GAAP.
b. Under Japanese GAAP, actuarial gains and losses of retirement benefit obligations in the defined benefit plans arerecognized as other comprehensive income when incurred and charged to expense over the service period. Under
IFRS, actuarial gains and losses are recognized as other comprehensive income when incurred and transferred toretained earnings immediately. Under Japanese GAAP, past service costs are recognized in profit or loss over the
average remaining service periods of the employees. However, under IFRS, past service is recognized as incurred.
c. Difference in actuarial assumptions such as discount rate between Japanese GAAP and IFRS resulted in additionalrecognition of retirement benefit costs.
F. Transportation and distribution costs
Under Japanese GAAP, transportation and distribution costs are expensed as incurred and presented as selling, generaland administrative expenses. Under IFRS, transportation and distribution costs related to inventories delivered fromfactories to sales offices are treated as a part of cost of production, which are allocated to cost of sales and inventories.
G. Government grantUnder Japanese GAAP, government grant is recognized as revenue when the Group receives the government grant.
Under IFRS, government grant is recognized in other income over useful lives regularly of which the associatedequipment that was purchased using the government grant are utilized.
H. Business combination
On May 18, 2015, the Company acquired 100 % of the shares and voting interests in Shikoku CCBC and its threesubsidiaries. Under Japanese GAAP, the Group commenced consolidation of Shikoku CCBC and its three subsidiaries onJune 30, 2015. Under IFRS, these subsidiaries were consolidated from the acquisition date, May 18, 2015.
I. Income tax
a. Temporary differences arising from differences in recognition and measurement items resulted in an increase ofdeferred tax assets and liabilities.
b. Under Japanese GAAP, the Group recognized deferred tax assets in accordance with prescribed classification
categories as prescribed by Japanese GAAP which are based on historical taxable income. Under IFRS, deferred tax
assets are recognized to the extent that management reviews the realizability of them and determines it is probablethat taxable profits will be available for tax losses and deductible temporary differences.

11

Summary of Consolidated Financial Statements (IFRS)
for the Second Quarter of the Year Ended December 31st, 2016
March 1, 2017
Stock Exchange:
Tokyo Stock Exchange/ Fukuoka Stock Exchange

Listed Company Name:

Coca-Cola West Company, Limited

Security Code:2579

URL: http://www.ccwest.co.jp/

Representative:（Title）

Representative Director & President（Name）Tamio Yoshimatsu（Amounts are rounded to the nearest one million yen）

１． Consolidated Financial Results for the Second Quarter Ended June 30, 2016
（1）Consolidated Operating Results(YTD)
Operating
Net Sales
Profit before tax
IncomeQ2 2016 YTD
Q2 2015 YTD

Net profit

Net profit attributableto Owners of the Company

Total comprehensive
incomeMillion Yen

Million Yen

Million Yen

Million Yen

Million Yen

Million Yen

211,061
198,048

3,681
8,244

3,445
8,479

2,046
6,803

2,015
6,740

(2,361)
9,228

Basic net Income perShare
Q2 2016 YTD
Q2 2015 YTD

Diluted Net Income
per Share

Yen

Yen

18.46
61.76

-

（2）Consolidated Financial Position
Total Assets
Q2 2016 YTD
FY 2015Net Assets

Million Yen

Million Yen

425,458
431,472

288,385
293,068（3）Consolidated Cash FlowsNet cash flows fromoperating activitie s

Net cash flows used ininvesting activitie s

Net cash flows from / (used in)f i na n ci n g ac ti v it i e s

Cash and cash equivalents
at the end of the year

Million Yen

Million Yen

Million Yen

Million Yen

8,766
12,877(14,002)(19,745)(3,802)
25,97570,83961,089Q2 2016 YTD
Q2 2015 YTD

12

【CONSOLIDATED STATEMENTS OF FINANCIAL POSITION】
Coca-Cola West Company, Limited(Millions of yen)
December 31, 2015

June 30, 2016

AssetsCurrent assets
Cash and cash equivalents

79,82870,839Trade and other receivables

38,53641,141Other financial assets

1,077

1,138

Inventories

31,55537,732Other current assets

2,351

3,354

Total current assets

153,347

154,204

Property, plant and equipment

189,519

188,595

Goodwill and intangible assets

49,37849,120Investment property

5,008

4,841

Equity-method investees

969

865

Other financial assets

26,961

21,984

Deferred tax assets

5,867

5,521

Other non-current assets

423

328

Total non-current assets

278,125

271,254431,472

425,458

Non-current assets

Total assets

13Coca-Cola West Company, Limited(Millions of yen)
December 31, 2015

June 30, 2016

Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

44,25147,055

Borrowings and bonds payable

2,518

1,268

Other financial liabilities

370

325

Income taxes payable

1,983

2,947

Other current liabilities

11,235

9,661

Total current liabilities

60,357

61,256

Borrowings and bonds payable

49,97449,987

Other financial liabilities

1,273

1,222

Defined benefit liabilities

7,561

7,604

Deferred tax liabilities

16,088

13,791

Provisions

1,030

1,034

Other non-current liabilities

2,121

2,179

Total non-current liabilities

78,04775,817

138,404

137,073

Share capital

15,232

15,232

Capital surplus

109,072

109,072

Treasury shares(4,587)(4,590)Retained earnings

164,355

164,247

Other reserves

8,612

4,036

292,684

287,997384

388

293,068

288,385

431,472

425,458

Non-current liabilities

Total liabilities

EquityEquity attributable to owners of the Company

Total equity attributable to owners of the Company
Non-controlling interests
Total equity
Total liabilities and equity14

【CONSOLIDATED STATEMENTS OF PROFIT OR LOSS】
Coca-Cola West Company, Limited(Millions of yen)Six months ended
June 30,2015

Six months ended
June 30,2016

Net sales

198,048

211,061

Cost of sales

109,511

114,246

Gross profit

88,537

96,815

Selling, general and administrative expenses

86,61991,722Other income

8,304

288

Other expense

1,814

1,307

Share of loss of equity-method investees

(164)

(393)

Operating profit

8,244

3,681

Finance income

331

260

Finance expense

96

496

Profit for the period before income tax

8,479

3,445

Income tax expense

1,676

1,399

Net profit for the period

6,803

2,046

Owners of the Company

6,740

2,015

Non-controlling interests

63

31

61.76

18.46

Net profit for the period attributable to:Earnings per share
Basic and diluted earnings per share (yen)15【CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME】
Coca-Cola West Company, Limited(Millions of yen)Six months ended
June 30,2015
Net profit

Six months ended
June 30,2016

6,803

2,046

Remeasurement of defined benefit pension plan s

(70)

143

Share of other comprehensive income of equity-method investees

-

26

(70)

169

Gain(loss) on available-for-sale financial assets

2,496(4,625)

Foreign currency translation differences of foreign operations

(1)

49

2,495

(4,576)

Total other comprehensive income (loss) for the period, net of tax

2,425(4,407)

Comprehensive income(loss) for the period

9,228(2,361)

Owners of the Company

9,165(2,392)

Non-controlling interests

63

31

Other comprehensive income(loss), net of tax
Items that will not be reclassified subsequently to profit or loss

Sub-total
Items that may be reclassified subsequently to profit or loss

Sub-total

Comprehensive income(loss) attributable to：16Summary of Consolidated Financial Statements (IFRS)
for the Fiscal Year Ended December 31st, 2015
March 1, 2017
Listed Company Name:

Coca-Cola East Japan Co., Ltd.

Stock Exchange: Tokyo Stock Exchange

Security Code:2580

URL: http://www.ccej.co.jp/

Representative:（Title）

Representative Director, President（Name）Calin Dragan（Amounts are rounded to the nearest one million yen）

２． Consolidated Financial Results for the Fiscal Year Ended December 31, 2015
（1）Consolidated Operating Results
Operating
Net Sales
Profit before tax
IncomeFY 2015
FY 2014

Net profit attributableto Owners of the parent

Total comprehensive
incomeMillion Yen

Million Yen

Million Yen

Million Yen

Million Yen

Million Yen

548,021519,053

9,096
11,8059,224
11,809

5,199
7,353

5,187
7,340

6,734
7,938

Net Profit per
Share
FY 2015
FY 2014

Net profit

Diluted Net Profit
per Share
Yen

Yen

41.37
60.64

41.31
60.61

（2）Consolidated Financial Position
Total Assets
FY 2015
FY 2014Net Assets

Million Yen

Million Yen

380,314352,247

229,531
212,445（3）Consolidated Cash FlowsNet cash flows fromoperating activitie s
FY 2015
FY 2014

Net cash flows used ininvesting activitie s

Net cash flows from / (used in)f i na n ci n g ac ti v it i e s

Cash and cash equivalents
at the end of the year

Million Yen

Million Yen

Million Yen

Million Yen

41,473
13,669(34,320)(39,856)(11,057)
22,13023,26827,17217

【CONSOLIDATED STATEMENTS OF FINANCIAL POSITION】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)
January 1, 2014

December 31, 2014

December 31, 2015

AssetsCurrent assets
Cash and cash equivalents

31,22927,172

23,268Trade and other receivables

45,61547,29957,439Other short-term financial assets

2,577

2,052

1,128

Inventories

32,17033,86735,924

Other current assets

6,816

14,9407,233

Total current assets

118,407125,330

124,992

157,154

183,522

213,319

Intangible assets

3,620

6,438

10,608Long-term financial assets

19,751

17,252

16,757

Investments in associates

703

1,400

1,021

Deferred tax assets

13,582

12,366

9,202

Other non-current assets

4,271

5,939

4,415

Total non-current assets

199,081

226,917

255,322

317,488352,247

380,314

Non-current assets
Property, plant and equipment

Total assets

18

Coca-Cola East Japan Co., Ltd.
(Millions of yen)
January 1, 2014

December 31, 2014

December 31, 2015

Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

50,71254,71964,554

Short-term loans

30

16,117

5,160

Current portion of long-term loans

-

-

1,235

Short-term lease obligations

3,518

3,311

4,001

Provisions

130

958

1,152

Income tax payable

1,606

2,564

1,136

Other current liabilities

9,114

9,654

9,648

Total current liabilities

65,11087,32386,886

Bonds-

13,95529,905Long-term loans

-

13

2,521

Long-term lease obligations

10,765

8,439

5,146

Provisions

4,250

3,366

2,524

Retirement benefit liabilities

24,64722,29920,886

Deferred tax liabilities

2,782

2,604

1,014

Other non-current liabilities

1,992

1,803

1,901

Total non-current liabilities

44,43652,47963,897

109,546

139,802150,783

Common stock

6,500

6,500

6,500

Capital surplus

143,137

143,135

157,314Retained earnings

58,041

61,66663,891

Treasury shares(1,164)(1,171)(1,178)

Accumulated other comprehensive income

1,220

1,891

2,420

19

224

421

207,753

212,245

229,368

189

200

163

207,942

212,445

229,531317,488352,247

380,314

Non-current liabilities

Total liabilities

EquityStock acquisition rights
Equity attributable to owners of the parent
Non-controlling interests
Total equity
Total liabilities and equity

19

【CONSOLIDATED STATEMENTS OF PROFIT OR LOSS】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)
Year ended
December 31, 2014

Year ended
December 31, 2015

Revenue

519,053548,021

Cost of goods sold289,330

303,429

Gross profit

229,723

244,592

Selling, general and administrative expenses

216,864

232,363

Other operating income

1,603

1,295

Other operating expenses

3,364

3,856

Share of profit/(loss) of associates

707

(572)

Operating profit

11,805

9,096

Finance income

453

1,084

Finance costs

449

956

Profit before tax

11,809

9,224

Income tax expense

4,456

4,025

Net profit

7,353

5,199

Owners of the parent

7,340

5,187

Non-controlling interests

13

12

7,353

5,199

Basic, profit attributable to owners of the parent（Yen）

60.64

41.37

Diluted, profit attributable to owners of the parent（Yen）

60.61

41.31

Net profit attributable to:

Net profit

Earnings per share20【CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)
Year ended
December 31, 2015

Year ended
December 31, 2014
Net profit

7,353

5,199

Remeasurement of defined benefit (assets)/liabilities(76)(1,011)

Share of other comprehensive loss of associates

(10)

(5)

671

529

Total other comprehensive income

585

1,535

Total comprehensive income

7,938

6,734

Owners of the parent

7,927

6,720

Non-controlling interests

11

14

7,938

6,734

Other comprehensive income
Items that will not be reclassified subsequently to profit or loss

Items that may be reclassified subsequently to profit or loss
Net gains on revaluation of available-for-sale financial assets

Total comprehensive income attributable to：Total comprehensive income21

【Primary Differences between Japanese GAAP and IFRS（As of December 31, 2015）】

Impacts on retained earnings(Millions of yen)Japanese GAAP
Recognition and measurement
A.
Adjustments to deemed cost for property, plant and equipment
B.
Recognition and measurement of assets under IFRS businesscombination accounting
C.
Equity method accounting adjustments
D. Remeasurement of retirement benefit liabilities
E.
Recognition of liabilities for vacation accruals
F.
Recognition of liabilities for other long-term employee benefits
OthersSubtotal
The scope of consolidation
IFRS

As of December 31, 2015
68,455478
531
565(4,273)(1,537)(514)(45)(4,795)231
63,891A.

Adjustments to deemed cost for property, plant and equipment
Upon transition to IFRS, the fair value of items of property, plant and equipment except for land and construction in progress wasused as their deemed cost as of the transition date.

B.

Recognition and measurement of assets under IFRS business combination accounting
The identifiable assets acquired and liabilities assumed in business combinations were recognized and measured based on businesscombination accounting under IFRS.

C.

Equity method accounting adjustments
The Group’s associates which are accounted for under the equity method adopt Japanese GAAP in preparing their separate financial
statements. The financial information of such associates were converted to comply with IFRS, for the purpose of the Group’s
application of equity method accounting under IFRS.

D.

Remeasurement of retirement benefit liabilities
Under Japanese GAAP, actuarial gains and losses and past-service costs are initially recognized in other comprehensive income andare reclassified to profit or loss each period over certain period not longer than the average remaining service periods of theemployees. Under IFRS, remeasurements of the retirement benefit liabilities including actuarial gain and loss recognized in othercomprehensive income are not reclassified to profit or loss in a subsequent period but may be transferred within equity. Also, under
IFRS, past-service costs resulting from plan amendments are recognized in the consolidated statement of profit or loss when such
amendments occur.
In addition, under Japanese GAAP, the expected return on pension assets is calculated by the excepted rate of return that isdetermined based on the yield on extremely low-risk long-term debt securities, however, under IFRS, there is no concept of expected
return on plan assets and the retirement benefit liabilities are calculated by applying the discount rate, which reference to market
yield of AA credit-rated corporate bonds. Further under IFRS, mortality rates that took into account the future change prediction
were used foractuarial calculations, whereas under Japanese GAAP, such future change prediction is not required to be reflected
into the rate.

E.

Recognition of liabilities for vacation accruals
Pursuant to Japanese GAAP, the Group did not recognize vacation accruals to which the employees are entitled. Under IFRS, suchaccruals were recognized.

F.

Recognition of liabilities for other long-term employee benefits
Under Japanese GAAP, certain special vacations awarded to employees with long service history were not recognized. Under IFRS,
these vacations accruals were recognized as other non-current liabilities.

22

Summary of Consolidated Financial Statements (IFRS)
for the Second Quarter of the Year Ended December 31st, 2016
March 1, 2017
Listed Company Name:

Coca-Cola East Japan Co., Ltd.

Stock Exchange: Tokyo Stock Exchange

Security Code:2580

URL: http://www.ccej.co.jp/

Representative:（Title）

Representative Director, President（Name）Calin Dragan（Amounts are rounded to the nearest one million yen）

２． Consolidated Financial Results for the Second Quarter Ended June 30, 2016
（1）Consolidated Operating Results(YTD)
Operating
Net Sales
Profit before tax
IncomeQ2 2016 YTD
Q2 2015 YTD

Net profit

Net profit attributableto Owners of the parent

Total comprehensive
incomeMillion Yen

Million Yen

Million Yen

Million Yen

Million Yen

Million Yen

265,862
257,103

2,323
1,685

2,028
1,517

1,253
930

1,244
922

(8,334)
3,907

Net Profit per
Share
Q2 2016 YTD
Q2 2015 YTD

Diluted Net Profit
per Share
Yen

Yen

9.81
7.44

9.79
7.43

（2）Consolidated Financial Position
Total Assets
Q2 2016 YTD
FY 2015Net Assets

Million Yen

Million Yen

392,092
380,314217,233
229,531（3）Consolidated Cash FlowsNet cash flows fromoperating activitie s
Q2 2016 YTD
Q2 2015 YTD

Net cash flows used ininvesting activitie s

Net cash flows from / (used in)f i na n ci n g ac ti v it i e s

Cash and cash equivalents
at the end of the year

Million Yen

Million Yen

Million Yen

Million Yen

△561
1,416

△15,024△18,905

13,47823,79021,161
33,47323

【CONSOLIDATED STATEMENTS OF FINANCIAL POSITION】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)
December 31, 2015

June 30, 2016

AssetsCurrent assets
Cash and cash equivalents

23,26821,161

Trade and other receivables

57,43959,896

Other short-term financial assets

1,128

876

Inventories

35,924

41,636

Other current assets

7,233

12,292

Total current assets

124,992

135,861

Property, plant and equipment

213,319

210,856

Intangible assets

10,608

11,224Long-term financial assets

16,757

15,071

Investments in associates

1,021

857

Deferred tax assets

9,202

13,726

Other non-current assets

4,415

4,497

Total non-current assets

255,322

256,231

380,314392,092

Non-current assets

Total assets

24Coca-Cola East Japan Co., Ltd.
(Millions of yen)
December 31, 2015

June 30, 2016

Liabilities and Equity
Liabilities
Current liabilities
Trade and other payables

64,554

61,105

Short-term loans

5,160

29,000Current portion of long-term loans

1,235

1,040

Short-term lease obligations

4,001

890

Provisions

1,152

1,056

Income tax payable

1,136

1,854

Other current liabilities

9,648

9,186

Total current liabilities

86,886104,131

Bonds

29,90529,920Long-term loans

2,521

2,029

Long-term lease obligations

5,146

612

Provisions

2,524

2,469

Retirement benefit liabilities

20,88633,282

Deferred tax liabilities

1,014

828

Other non-current liabilities

1,901

1,588

Total non-current liabilities

63,89770,728150,783

174,859

Common stock

6,500

6,500

Capital surplus

157,314

157,324

Retained earnings

63,891

52,280Treasury shares(1,178)(1,153)

Accumulated other comprehensive income

2,420

1,629

Stock acquisition rights

421

480

229,368

217,060

163

173

229,531217,233

380,314392,092

Non-current liabilities

Total liabilities

EquityEquity attributable to owners of the parent
Non-controlling interests
Total equity
Total liabilities and equity25

【CONSOLIDATED STATEMENTS OF PROFIT OR LOSS】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)Six months ended
June 30,2015

Six months ended
June 30,2016

Revenue

257,103265,862

Cost of goods sold141,690

145,830

Gross profit

115,413120,032

Selling, general and administrative expenses

112,368

116,562

Other operating income

729

496

Other operating expenses

1,872

1,122

Share of profit/(loss) of associates

(217)

(521)

Operating profit

1,685

2,323

Finance income

228

251

Finance costs

396

546

Profit before tax

1,517

2,028

Income tax expense

587

775

Net profit

930

1,253

Owners of the parent

922

1,244

Non-controlling interests

8

9

930

1,253

Basic, profit attributable to owners of the parent（Yen）

7.44

9.81

Diluted, profit attributable to owners of the parent（Yen）

7.43

9.79

Net profit attributable to:

Net profit

Earnings per share26

【CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME】
Coca-Cola East Japan Co., Ltd.
(Millions of yen)Six months ended
June 30,2016

Six months ended
June 30,2015
Net profit

930

1,253

Remeasurement of defined benefit (assets)/liabilities

1,856(8,796)

Share of other comprehensive loss of associate s

(1)

-

1,122

(791)

Total other comprehensive income

2,977(9,587)

Total comprehensive income

3,907(8,334)

3,899(8,344)

8

10

3,907

(8,334)

Other comprehensive income
Items that will not be reclassified subsequently to profit or loss

Items that may be reclassified subsequently to profit or loss
Net gains/(losses) on revaluation of available-for-sale financial assets

Total comprehensive income attributable to：
Owners of the parent
Non-controlling interests
Total comprehensive income27