Member of the Financial Accounting Standards Foundation

Consolidated Financial Summary for
the First Quarter Ended March 31, 2016 (Japanese Standard)
April 26, 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: May 13, 2016
FY 2016 1Q supplementary information: Yes
FY 2016 1Q 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: －(Fractions of one million yen are round off)

１．Consolidated financial results for the 1st quarter 2016 (from January 1, 2016 to March 31, 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%

1st quarter 2016
1st quarter 2015

100,545
91,116

10.3
(4.0)

2,209
(1,246)－－2,069(1,290)－－953(1,252)－－

Note: Comprehensive income
1Q 2016: (333) million yen <－%>

Diluted earnings
per share

Earnings pershare
Year ended

1st quarter 2016
1st quarter 2015

1Q 2015: (496) million yen <－%>

yenyen8.73(11.47)－－（2）Consolidated financial position
Total assets

Net assets (excl. minorityinterests) to total assets

Net assets

As ofmillion yen

million yen%

1st quarter 2016
Full year 2015

369,861
378,105

258,223
260,878

69.7
68.9

Reference: Net assets (excl. minority interests)
1Q 2016: 257,846 million yen
End of 2015: 260,493 million yen

２．Dividends(Record date)

End of 1Q

Dividends per share
End of 2Q
End of 3Q
Year-end

AnnualYear endedyenyenyenyenyen

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

－－

20.00

－

21.00

41.00

22.00

－

22.00

44.00

Note: Revisions to the cash dividends forecasts most recently announced: None
End of 2Q FY 2016 dividend (forecast): an ordinary dividend of 21.00 yen, a commemorative dividend of 1.00 yen
FY 2016 ending dividend (forecast) : an ordinary dividend of 21.00 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%

yen455,200

3.3

16,00012.2

15,0009.3

8,800(11.7)

80.63

Note: Revisions to the forecasts of consolidated financial results most recently announced: None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 financial
statement: None: None

（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) above
3) Changes in accounting estimates
4) Restatement of prior period financial statements after error corrections: Yes: None: Yes: None（4）Number of outstanding shares (common share)
1) Number of outstanding shares at the end of period (including treasury shares):
1Q 2016: 111,125,714 shares
FY 2015: 111,125,714 shares
2) Number of treasury shares at the end of period:
1Q 2016: 1,987,267 shares
FY 2015: 1,986,911 shares
3) Average number of outstanding shares at end of period (three months):
1Q 2016: 109,138,597 shares
1Q 2015: 109,141,335 shares* Indication regarding execution of quarterly review procedures
At the time of disclosure of this quarterly financial summary, the review procedures for quarterly financial statements inaccordance with the Financial Instruments and Exchange Act are in progress.
* 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 First-Quarter 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…

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)
April 26, 2016

1123556999

1. Situation of Consolidated Profit and Loss
(January 1, 2016 to March 31, 2016)(million yen, %)1Q 2016
1Q 2015
actualplan*vs. plan

actualchange

vs. last year

% changechange% change

Net revenues

91,116

97,100100,545

3,445

3.5

9,429

10.3

Operating income (loss)(1,246)

(300)

2,209

2,509－

3,456－

Recurring income (loss)(1,290)

(500)

2,069

2,569－

3,360－

Profit (loss) attributable toowners of parent(1,252)

(600)

953

1,553－

2,206－* The above plan is based on performance forecast announced as of February 3, 2016.

2. Profits Change Factor (vs. plan)(January 1, 2016 to March 31, 2016)(million yen)

1Q 2016
plan*changeactualMain factors for increase/decrease

Net revenues

97,100100,545

3,445

Cost of goods sold46,80048,4691,669

Gross profit

50,30052,076

1,776

SG&A

50,60049,866

(300)

2,209

2,509

Non-operating income

100

159

59

Non-operating expenses

300

299

(0)

Recurring income (loss)

(500)

2,069

2,569

Profit (loss) before income taxes

(500)

2,069

2,569

75

1,094

1,019(575)

975

1,550

Profit attributable tonon-controlling interests

2521(3)

Profit (loss) attributable toowners of parent

(600)

953

1,553

Profit (loss)

3,580

Impact on the healthcare and skincare business(134)

Impact on the soft drink business

1,609

Impact on the healthcare and skincare business

166

Decrease of sales equipment cost

(196)

Decrease of sales promotion & ad expenses(143)(733) Decrease of supplies expenses

Operating income (loss)

Total income taxes

Impact on the soft drink business

Decrease of repair expenses(53)

Impact on the healthcare and skincare business(243)* The above plan is based on performance forecast announced as of February 3, 2016.

Appendix-1(71)3. Profits Change Factor (vs. last year)(January 1, 2016 to March 31, 2016)(million yen)

1Q 2015

1Q 2016Main factors for increase/decreasechangeNet revenues

91,116

100,545

9,429

Cost of goods sold44,93848,4693,530

Gross profit

46,17752,076

5,898

SG&A

47,42449,8662,441

Operating income (loss)(1,246)

2,209

3,456

Non-operating income

202

159

(43)

Non-operating expenses

246

299

53

Recurring income (loss)(1,290)

2,069

3,360

Profit (loss) before income taxes(1,290)2,0693,360

(45)

1,094

1,140(1,244)

975

2,220

721

14(1,252)

953

2,206

Total income taxes
Profit (loss)
Profit attributable tonon-controlling interests
Profit (loss) attributable toowners of parent

Appendix-2

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

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

9,409
20

5,771
127

Increase in personnel cost

1,788

Increase of sales promotion & ad expenses

1,010

Increase of business consignment expenses

825

Increase of sales commission

570

Decrease of depreciation cost

(1,425)Decrease of sales equipment cost

(163)

Decrease of transportation expenses(100)

Impact on the healthcare and skincare business(74)

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

Current assets
Cash and deposits
Trade notes andaccounts 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, netLand
Construction in progress
Other, net
Intangible assets
Goodwill
OtherInvestments andother assets
Investment securities
Other
Allowance for
doubtful accounts
Total assets

Dec.31
2015

Mar.31
2016

157,888
49,955

152,093
63,540(5,794)
13,58430,08627,332(2,753)30,001

14,105(15,895) Decrease by redemption of marketable securities

27,735

26,211(1,523) Decrease of inventory

600
2,305
17,575718
3,702
16,865

117
1,397
(710)

(372)

(384)

(11)

220,217150,178
33,230217,768
151,025
32,543(2,448)846(687)

21,381

20,324(1,057)30,31363,204
691,978
38,401
31,762
6,638

32,902
63,204204
1,845
37,33531,187
6,147

2,589 Increase by scaling investments for vending machines
－135
(133)
(1,066)
(575)
(490)

31,637

29,408(2,229)22,382

20,360(2,022)

9,830

9,609

(221)

(574)

(560)

14

378,105

369,861(8,243)changeMain factors for increase/decrease

Decrease by the decline of market capitalizationof investment securities

Total assets
369,861
378,105

Total
assetsCurrent
assets152,093
157,888

Property,plant andequipment

151,025
150,178

Intangible
assets37,33538,401

Investments
and otherassets

29,40831,637(million yen)0

50,000Mar.31
2016
Dec.31
2015

100,000

150,000

200,000

Appendix-3

250,000

300,000

350,000

400,000(million yen)Dec.31
2015
Current liabilities
Trade notes andaccounts payable
Current portion of longterm loans payable
Accrued income taxes
Other accounts payable
Provision for sales
promotion expenses
Other
Long-term liabilities
Bonds payable
Long-term loans payable
Net defined benefit liability
Liabilities for directors'
and corporate auidtors'
retirement benefits

Other
Total liabilitiesShareholders' equity
Common 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
Net assets
Total liabilities andnet assets

Mar. 312016changeMain factors for increase/decrease

56,00651,029(4,976)

19,532

18,725

(806)

2,517

1,267

(1,249)2,112
21,426632
20,983(1,480)
(442)

355

404

49

10,061
61,22150,000
201
3,375

9,015
60,60850,000197
3,298(1,045)
(612)
－
(4)
(76)

163

172

9

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

6,939
111,637
255,229
15,231109,072
135,513(4,587)(541)(5,589)(1,339)－－(1,338)
(0)

3,924

2,616

(1,308)

5,217

3,942

(1,275)

(177)

(397)

(220)

17

31

14

(1,132)

(959)

172

384
260,878377
258,223(6)(2,654)

378,105

369,861(8,243)

Total liabilities and net assets

369,861
378,105

Total liabilities
and net assets

111,637
117,227

Total
liabilities

Mar. 312016

51,02956,006

Current
liabilities
Long-term
liabilities

Dec.31
2015

60,60861,221
258,223
260,878

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(January 1, 2016 to March 31, 2016)(million yen)

1Q 2015
Investment

Buildings
Machinery & Equipment
Sales equipment
Other
Total
Depreciation

1Q 2016

85
513
2,765
701
4,066
5,595

44
191
3,736
499
4,471
4,060

2015
actual
440,476
14,262
13,7239,970

2016
plan455,200
16,00015,0008,800

6. Projections (consolidated)(January 1, 2016 to December 31, 2016)(1)Earnings(million yen, %)Net revenues
Operating income
Recurring income
Profit attributable to owners of parent(2)Investment, Depreciation(million yen)2015
actualInvestment

Land
Buildings
Machinery & Equipment
Sales equipment
Other
Total
Depreciation

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

2016
plan
5,755
2,355
7,190
16,726
4,485
36,51317,801

Appendix-5

change14,723
1,737
1,276(1,170)% change
3.3
12.2
9.3
(11.7)

7. Sales Information(January 1, 2016 to March 31, 2016)<Sales volume by brand>(thousand cases, %)1Q 2015

Core 8

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

1Q 2016% change

2,985
1,301
1,576
10,945
1,927
2,820
3,375
2,310
16,98744,226

3,109
1,405
1,521
11,672
1,864
2,600
3,814
3,085
17,441
46,511

4.2
8.0
(3.5)
6.6
(3.3)
(7.8)
13.0
33.5
2.7
5.2

－3,973－Notes: Sales volume in 2015 is revised retroactively due to changing counting segmentation in some products.

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

80%

38.4%

37.5%

Other60%

5.2%

6.6%

I LOHAS

7.6%

8.2%

Ayataka

6.4%

5.6%

Aquarius

4.4%

4.0%

Sokenbicha

24.7%

25.1%

Georgia

3.6%
2.9%

3.3%
3.0%

Coca-Cola Zero

6.8%

6.7%

Coca-Cola

1Q 2015

1Q 2016

40%

20%

0%

Appendix-6

Fanta

<Sales volume by channel>(thousand cases, %)1Q 2015
Vending*1
Supermarket, etc. *2
CVS*3
Retail*4
Food service*5
OtherTotal (excl. Shikoku)
Shikoku1Q 2016% change

15,18012,169
5,804
2,267
5,202
3,604
44,226

15,541
13,018
6,670
2,215
5,491
3,576
46,511

2.4
7.0
14.9
(2.3)
5.6(0.8)
5.2－

3,973－*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%
Other

8.2%

7.7%

11.8%

11.8%

5.1%

4.8%

Retail

13.1%

14.3%

CVS

27.5%

28.0%

Supermarket, etc.

34.3％

33.4%

1Q 2015

1Q 2016

80%

Food service

60%

40%

20%

0%

Appendix-7Vending<Sales volume by package>(thousand cases, %)1Q 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

1Q 2016% change

12,310260
7,926
20,497
12,281
2,762
8,685
44,226

13,277368
8,447
22,093
12,5893,022
8,807
46,511

7.9
41.4
6.6
7.8
2.5
9.4
1.4
5.2

－

3,973

－

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

19.6%

18.9%

Syrup, powder

6.3%

6.5%

Other

27.8%

27.1%

Can

17.9%

18.2%

Large PET

80%

60%

40%

0.8%

0.6%

Medium PET

20%
27.8%

28.5%

1Q 2015

1Q 2016

0%

Appendix-8

Small PET

8. Number of Vending Machines, Market Share(1) Number of vending machines(thousands units)

Dec.31
2015

Mar. 31
2016

297
22319

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

298
21319

1(1)
0Notes: Figures are the combined total of Coca-Cola West Co., Ltd. and its affiliated company Nishinihon Beverage Co., Ltd.

42

Shikoku42(0)Notes: 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 March 31, 2016)(%)

1Q 2015

1Q 2016

TotalSupermarkets
CVS
Retail stores

22.7
22.5
23.3
19.9

23.2
23.2
23.7
17.9

Drug stores

23.9

23.2

Discount stores

22.7

24.0

Notes: Market share in 2015 is revised retroactively due to changes in data acquisition candidate by the research company.
(Source : Intage Inc.)

10. Segment Information(million yen)

1Q 2015

Net revenues
To outside customers
and consumers
Intersegment sales ortransfers

Segment profit (loss)

Soft drink

Healthcare andskincare

82,970

1Q 2016
Total

Soft drink

Healthcare andskincare

8,145

91,116

92,3808,165

100,545

82,9708,145

91,116

92,3808,165

100,545－－－－－－(1,855)608(1,246)

1,400

809

2,209

Total

Notes: Net revenues and segment profit (loss) are based on net revenues and operating income (loss) reported in the consolidated statements of income.

Appendix-9