Member of the Financial Accounting Standards Foundation

Consolidated Financial Summary for
The Third Quarter Ended September 30, 2011 (Japanese standard)
October 31, 2011
Listed company name: Coca-Cola West Company, Limited
Listed stock exchange listings: Tokyo, Osaka, Fukuoka
Code number: 2579
URL http://www.ccwest.co.jp/english
Delegate: Title: Representative Director, President
Name: Tamio YoshimatsuContact:Title: Manager of FinanceName: Makoto Tsunomachi
Phone: +81-92-641-8585
Scheduled date for filing of quarterly financial report: November 10, 2011
Scheduled dividend payments: FY 2011 3Q Supplementary information: Yes
FY 2011 3Q Financial presentation: Yes(Fractions of one million yen are round off)

１．Consolidated financial results for 3Q 2011 (from January 1, 2011 to September 30, 2011)（Percentages indicate changes over the same period in the prior fiscal year）（1）Consolidated financial results (nine months)
Net revenues

Operating income

Net income

Ordinary income

Million yen%

Million yen%

Million yen%

Million yen%

3Q 2011305,903

8.8

13,23242.9

13,10631.2

6,067(2.2)

3Q 2010281,279

(1.0)

9,262

490.1

9,989 537.46,202-

Diluted earnings
per share

Earnings per share
Yen

Yen

3Q 201160.68-

3Q 201062.04-（2）Consolidated financial position
Total assets
Million yen

End of 3Q 2011

Net assets (excl.
minority interests) tototal assets

Net assets
Million yen

346,119

Net assets (excl.
minority interests)
per share
Yen％

227,135

65.5

End of 2010
346,032
226,267(Ref.) Net assets (excl. minority interest) End of 3Q 2011 226,783 million yen

2,268.45

65.3
End of 2010

2,260.03
225,943 million yen

２．Dividends
Cash dividends per share
End of 1Q

End of 2Qyen

End of 3Q
Yen

End of year

yen

FY 201020.00
FY 201120.00
FY 2011（Forecast）(Note) Revision of dividend forecast during this quarter: NoneYearlyyen-Yen

20.00

40.00

20.00

40.00

３．Forecast of consolidated financial results 2011 (from January 1, 2011 to December 31, 2011)（percentages represent changes from previous year）

Net revenues
Full year 2011

Operating income

million yen％ million yen

408,000

8.6

16,000Recurring income％ million yen

33.3

15,600％

million yen

％

23.2

7,200

(5.0)

(Note) Revision of forecast of consolidated financial results during this quarter: None1

Basic net income
per share

Net income

Yen72.02

CCWEST consolidated financial summery for the third quarter ended September 30, 2011

４．Other（1）Changes in significant subsidiaries during the period (changes in specified subsidiaries
accompanying changes in scope of consolidation)（2）Adoption of simplified accounting policies and typical accounting procedures for preparationof the quarterly consolidated financial statements: None: Yes（3）Change in accounting principle, procedures, and presentation for preparation of the quarterly
consolidated financial statements
1) Changes due to amendment of accounting standard: Yes
2) Changes due to other than the above: None
（4）Number of outstanding shares (common share)
1) Number of outstanding shares at the end of period (including treasury shares):
3Q 2011: 111,125,714 shares
FY 2010: 111,125,714 shares
2) Number of treasury shares at the end of period:
3Q 2011: 11,153,378 shares
FY 2010: 11,152,136 shares
3) Average number of outstanding shares at end of period (nine months)
3Q 2011: 99,972,990 shares
3Q 2010: 99,974,839 shares* 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 tonumber of inherent uncertainties in the forecast, actual results may differ materially from the forecast.

2Consolidated Results
For The Third-Quarter 2011
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

…

-Creating a happy tomorrow for everyone-

Coca-Cola West Co., Ltd. (2579)
October 31, 2011

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1. Situation of Consolidated Profit and Loss
(January 1, 2011 to September 30, 2011)(million yen, %)3Q 2010
actual

3Q 2011
vs. planvs. last year

plan*

actual281,279

310,500

305,903(4,596)(1.5)

24,624

8.8

Operating income

9,262

13,10013,232

132

1.0

3,970

42.9

Recurring income

9,989

12,70013,106

406

3.2

3,116

31.2

Net income

6,202

5,700

6,067

367

6.4(135)(2.2)

Net revenues

change% changechange% change* The above plan is based on performance forecast announced as of February 4, 2011.

2. Profits Change Factor (vs. plan)(January 1, 2011 to September 30, 2011)(million yen)

3Q 2011changeplan*

actualNet Revenues

310,500

305,903(4,596)

Cost of goods sold156,500

157,192

692

Gross profit

154,000

148,710(5,289)

SG&A

140,900

135,477

13,10013,232132Non-operating income

1,200

1,105(94)

Non-operating expenses

1,600

1,231(368)

Rucurring income

12,70013,106100431

Extraordinary losses

800

Income before income taxes,
minority interests and other adjustments

Impact on the soft drink business(3,717)

Impact on the health food business(1,570)Decrease of sales equipment cost

(1,101)

Decrease of sales promotion & ad expenses(518)

Decrease in personnel cost(480)

Decrease of sales commission(327)(5,422) Decrease of depreciation

Operating income

Extraordinary income

Main factors for increase/decrease(286)

Decrease of maintenance cost(248)

Decrease of business consignment expenses(242)

Decrease of transportation expenses(217)

Impact on the health food business(1,338)406
331 Gain on sales of property

382

1,619

819 Loss on disposal of inventories

490

12,00011,918(81)Income taxes

6,210

5,816(393)

Income before minority interests

5,790

6,102

312

9034(55)

5,700

6,067

367

Minority interests
Net income* The above plan is based on performance forecast announced as of February 4, 2011.

Appendix-1

3. Profits Change Factor (vs. last year)(January 1, 2011 to September 30, 2011)(million yen)

3Q 2010

3Q 2011Main factors for increase/decreasechangeNet Revenues

281,279

305,903

24,624

Cost of goods sold154,233

157,192

2,959

Gross profit

127,045

148,710

21,665

SG&A

117,783

135,477

Impact on the soft drink business

753

Impact on the health food business

20,961

Increase of sales promotion & ad expenses

3,995

Increase of sales commission

394

Decrease in personnel cost

(1,971)

17,694 Decrease of sales equipment cost

(1,309)Decrease of depreciation(723)Decrease of transportation expenses(265)

Impact on the health food business

17,393Operating income

9,262

13,232

3,970

Non-operating income

1,631

1,105(525) Equity in earnings of affiliates(453)

Non-operating expenses

903

1,231

327 Loss on retirement of noncurrent assets

152

9,989

13,106

3,116

328

431

102

Recurring income
Extraordinary income
Extraordinary losses

53

1,619

Effect of applying assets retirement
1,566 obligation accounting standards

726

Loss on disposal of inventories

490

Income before income taxes,
minority interests and other adjustments10,265

11,918

1,652

Income taxes

4,051

5,816

1,764

Income before minority interests－6,102

6,102

Minority interests

1034

23

6,202

6,067

(135)

Net income

Appendix-2

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

Current assets

Dec.31
2010

Sep.302011

103,796

116,747

12,951

24,20825,272

1,063

23,50727,0983,591

15,737

24,2408,503 Acquisition of marketable securities

22,355

20,775(1,579)

231

353

121

Cash and deposits
Trade notes andaccounts receivable
Marketable securities
Merchandise andfinished goods
Work in processchangeMain factors for increase/decrease

Raw materials and supplies

1,396

2,464

1,068

Other

16,545

16,803

257

(186)

(261)

(74)

242,236

229,371(12,864)

133,943

133,950

734,992

34,498(493)

20,15521,518

1,363

Allowance for
doubtful accounts
Fixed assets
Property, plant andequipment
Buildings and structures, net
Machinery, equipment,
vehicles, net
Sales equipment, net

21,20922,175966

Land53,982

52,935(1,047)

Lease assets, net

2,066

1,418(647)

7

1(5)

Other, net

1,528

1,401(126)

Intangible assets

54,45452,656(1,798)Goodwill

50,172

48,149(2,023)

Other
Investments andother assets

4,282

4,507

224

53,83842,764(11,073)

Investment securities

26,69024,475(2,215)

Advanced payments
for retirement expenses

10,934

6,124(4,810) Decrease by unification of retirement benefit scheme

Other16,773

12,737(4,036)

(560)

(572)

(12)

346,032

346,11986

Construction in progress

Allowance for
doubtful accounts
Total assets

Total assets
Totalassets

346,119
346,032

Currentassets

116,747
103,796

Property,plant andequipment

133,950
133,943Intangible
assets52,65654,454

Investments
and otherassets

42,76453,838(million yen)0

50,000

Sep.302011
Dec.31
2010

100,000

150,000

200,000

Appendix-3

250,000

300,000

350,000

400,000(million yen)Dec.31
2010
Current liabilities
Trade notes andaccounts payable
Current portion of longterm loans payable

Sep.302011changeMain factors for increase/decrease

43,415

50,114

6,698

14,61520,014

5,398

2,567

2,567

－

Lease obligations

1,031

759

(272)

Accrued income taxes

1,616

1,649

32

Other accounts payable

15,55815,749190Provision for sales
promotion expenses

169

188

19

7,854

9,185

1,330

Long-term liabilities

76,34968,869(7,480)Bonds payable

50,00050,000－Long-term loans payable

12,816

10,278(2,538)

Lease obligations

1,231

944(287)

Allowance for employee'retirement benefits

5,622

1,103

Liabilities for directors'
and corporate auidtors'
retirement benefits

10211412(207)

Other

Negative goodwill(4,519) Decrease by unification of retirement benefit scheme

207－6,3696,429

59

Total liabilities

119,765

118,983(781)

Shareholders' equity

226,199

228,265

2,066

Other

Common stock

15,231

15,231－

Capital surplus

109,072

109,072－

Retained earnings

127,657

129,725

2,068

Treasury stock(25,761)(25,763)

(1)

(255)

(1,482)(1,226)(255)(1,482)(1,226)

324

352

28

Net assets

226,267

227,135

867

Total liabilities andnet assets

346,032

346,119

86

Valuation and translation
adjustments
Net unrealized gains (loss) onother marketable secrities

Minority interests

Total liabilities and net assets

346,119
346,032

Total liabilities
and net assets

118,983
119,765

Totalliabilities

Sep.302011

50,114
43,415Current
liabilities

Dec.31
2010

68,86976,349Long-term
liabilities

227,135
226,267

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, 2011 to September 30, 2011)(1) Investment, Depreciation(million yen)

3Q 2010Land

3Q 2011
－

1,482

1,688

Machinery & Equipment

3,935

4,964

Sales equipment

6,224

7,888

Other

1,809

2,776

Total

13,465

17,317

Depreciation

16,596

15,893Investment

13Buildings(2) Cash Flow(million yen)

3Q 2010
Cash flow fromoperating activities
Cash flow frominvesting activities
Cash flow fromfinancing activities
Cash and cash equivalents
at end of 3Q

3Q 201123,33333,159(11,250)(20,663)(5,264)(8,287)78,03941,643

Appendix-5

6. Projections (consolidated)(January 1, 2011 to December 31, 2011)(1)Earnings(million yen, %)2010
actualNet Revenues
Operating Income
Recurring Income
Net Income

375,764
12,003
12,659
7,582

2011
plan
408,000
16,00015,6007,200(2)Investment, Depreciation(million yen)2010
actualInvestment

Land
Buildings
Machinery & Equipment
Sales equipment
OtherTotal
Depreciation

16
1,632
4,704
7,604
2,567
16,524
22,405

Appendix-6

2011
plan8753,902
9,755
10,887
4,911
30,33022,342change32,235
3,996
2,940(382)% change
8.6
33.3
23.2
(5.0)

7. Sales information(January 1, 2011 to September 30, 2011)＜Sales Volume by brand＞(thousand cases, %)3Q 2010

3Q 2011% change

10,69910,831+1.2

Coca-Cola Zero

4,848

5,041+4.0

Fanta

6,903

6,614(4.2)

Georgia

27,78528,376+2.1

Sokenbicha

9,683

9,781+1.0

Aquarius

17,724

17,370(2.0)

I LOHAS

4,332

5,335+23.2

Ayataka

3,543

6,025+70.0

Other55,07854,190

(1.6)

Total

140,595

143,562+2.1

Core 8

Coca-Cola＜Composition of brand＞
100%

80%

60%

40%

37.7%

Other

4.2%

Ayataka

3.1%

3.7%

I LOHAS

12.6%

12.1%

Aquarius

6.9%

6.8%

Sokenbicha

19.8%

19.8%

Georgia

4.9%

4.6%

Fanta

3.4%

3.5%

7.6%

7.5%

3Q 2010

3Q 2011

39.2%

2.5%

20%

0%

Appendix-7Coca-Cola Zero
Coca-Cola

＜Sales volume by channel＞(thousand cases, %)3Q 2010

3Q 2011% changeVending*1

44,472

41,415(6.9)

Supermarket*239,011

39,477+1.2

CVS

*3

14,797

15,244+3.0

Retail*4

9,901

10,017+1.2

Food service*5

13,937

14,398+3.3

Other

18,47623,011

+24.5

Total

140,595

143,562+2.1*1 Vending : Retail sales business to distribute products through vending machine to consumers*2 Supermarket : Wholesale business for supermarket, drug store, discount store, home center chains*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 : Syrup sale business for fast food restaurants, movie theaters, sports arena,'family restaurants,' and theme parks＜Composition of channel＞
100%
13.1%

80%

9.9%

16.0%

Other

10.0%

Food service

7.0%

Retail

10.6%

CVS

27.5%

Supermarket

28.8%

Vending

7.0%
10.5%
60%

27.8%
40%

20%
31.6%

0%
3Q 2010

3Q 2011

Appendix-8

＜Sales volume by package＞(thousand cases, %)3Q 2010PET

3Q 2011% change

Small-sized (less than 1021ml)

32,29432,815+1.6

Large-sized (more than 1,021ml)

28,01328,179+0.6

Subtotal

60,30760,993+1.1

Can41,22541,761

+1.3

Other

11,082

9,689(12.6)

Syrup, powder

27,98031,118

+11.2

Total

140,595

143,562+2.1＜Composition of package＞

100%

19.9%

21.7%

Syrup, powder

7.9%

6.7%

Other

29.3%

29.1%

Can

19.9%

19.6%

Large PET

23.0%

22.9%

Small PET

3Q 2010

3Q 2011

80%

60%

40%

20%

0%

Appendix-9

8. Number of Vending Machines, Market Share(1) Number of vending machines(Units)End of2010

End of3Q 2011changeCan vending machine

243,838

246,177+2,339Cup vending machine

25,902

24,477(1,425)

Total

269,740

270,654+914* Figures are the combined total of Coca-Cola West Co., Ltd. and Nishinihon Beverage Co., Ltd.

(2) Market share
(%)

2010
Out market share

2011
32.2

33.6

(Source : Survey of vending machines (covering May to June), conducted by Intage Inc.)

9. Home Market Share
(January 1, 2011 to September 30, 2011)(%)
3Q 2010

3Q 2011

Total22.1

21.7Supermarkets

22.9

22.0

CVS

20.0

21.2

Retail stores

23.5

21.6

Drug stores

21.2

21.0

(Source : Store Audit conducted by Intage Inc.)

Appendix-10