Member of the Financial Accounting Standards Foundation

Consolidated Financial Summary for
the Third Quarter Ended September 30, 2016 (Japanese Standard)
October 31, 2016
Listed company name: Coca-Cola West Company, Limited
Listed stock exchanges: Tokyo and Fukuoka
Code number: 2579
URL: http://www.ccwest.co.jp/english
Delegate: Title: Representative Director, President
Name: Tamio YoshimatsuContact: Title: Department Manager, Finance Department
Name: Masakiyo Uike Phone: +81-92-641-8585
Expected date of quarterly report submission: November 11, 2016 Expected date of the dividend payments: －FY 2016 3Q supplementary information: Yes
FY 2016 3Q financial presentation: Yes(Fractions of one million yen are round off)

１．Consolidated financial results for the 3rd quarter 2016 (from January 1, 2016 to September 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%

3rd quarter 2016
3rd quarter 2015

353,710
329,661

7.3
1.8

19,025
11,50765.343.9

18,32011,29462.2
40.9

10,627
14,347(25.9)
291.6

Note: Comprehensive income
3Q 2016: 8,129 million yen < (44.1) %>Diluted earnings
per share

Earnings pershare
Year ended

3rd quarter 2016
3rd quarter 2015

3Q 2015: 14,532 million yen < 160.4% >yenyen97.37
131.45－－（2）Consolidated financial position
Total assets

Net assets (excl. minorityinterests) to total assets

Net assets

As ofmillion yen

million yen%

3rd quarter 2016
Full year 2015

382,513378,105

264,282
260,878

69.0
68.9

Reference: Net assets (excl. minority interests)
3Q 2016: 263,880 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 ended

yenyenyenyenyen

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: None
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: 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 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) above
3) 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):
3Q 2016: 111,125,714 shares
FY 2015: 111,125,714 shares
2) Number of treasury shares at the end of period:
3Q 2016: 1,988,335 shares
FY 2015: 1,986,911 shares
3) Average number of outstanding shares at end of period (nine months):
3Q 2016: 109,138,069 shares
3Q 2015: 109,140,468 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 Third-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)
October 31, 2016

1123556999

1. Situation of Consolidated Profit and Loss
(January 1, 2016 to September 30, 2016)(million yen, %)3Q 2016
3Q 2015
actualplan*

actualvs. planchangevs. last year

% changechange% change

Net revenues

329,661

351,300

353,710

2,410

0.7

24,049

7.3

Operating income

11,507

18,20019,025

825

4.5

7,518

65.3

Recurring income

11,294

17,60018,320

720

4.1

7,026

62.2

Profit attributable to owners of parent

14,347

10,30010,627327

3.2(3,720)(25.9)* The above plan is based on performance forecast announced as of August 12, 2016.

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

3Q 2016changeMain factors for increase/decrease

plan*

actualNet revenues

351,300

353,710

2,410

Cost of goods sold168,300

170,213

1,913

Gross profit

183,000

183,497

497

SG&A

Operating income

164,800

164,471

19,025825

Non-operating income

600

633

33

Non-operating expenses

1,200

1,339

139

Recurring income

17,60018,320720

Extraordinary income－761

Extraordinary losses7001,849

1,149

Profit before income taxes

16,90017,232332

Total income taxes

6,500

6,559

59

Profit10,40010,673273

100

45(54)

10,30010,627

327

Profit attributable toowners of parent

3,361

Impact from the healthcare and skincare business(950)

Impact from the soft drink business

1,397

Impact form the healthcare and skincare business(899)

Decrease of sales equipment cost(106)

Decrease of transportation expenses(94)(328) Increase in personnel cost

18,200

Profit attributable tonon-controlling interests

Impact from the soft drink business

445

Increase of business consignment expenses

103

Impact from the healthcare and skincare business(716)

761 Gain on sales of non-current assets

744

Loss on abandonment of inventories

648

Loss on disaster446* The above plan is based on performance forecast announced as of August 12, 2016.

Appendix-1

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

3Q 2015

3Q 2016Main factors for increase/decreasechangeNet revenues

329,661

353,71024,049

Cost of goods sold162,145

170,213

8,067

Gross profit

167,515

183,497

15,981SG&A

Operating income

156,008

164,471

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

2,533

Increase of sales promotion & ad expenses

2,417

Increase of sales commission

1,588

8,463 Increase of transportation expenses

275

Increase of repair expenses

154

Decrease of depreciation cost

(4,485)Non-operating income

802

633

(168)

Non-operating expenses

1,015

1,339

Recurring income

11,294

18,3207,026

Extraordinary income

8,449

761

(7,688)Decrease of sales equipment cost(545)Impact from the healthcare and skincare business(211)

323 Loss on retirement of fixed assets

Gain from negative goodwill
Gain on sales of non-current assets
Loss on disaster

1,169 Loss on abandonment of inventories
Loss on retirement of fixed assets

Profit before income taxes

19,064

17,232(1,832)

Total income taxes

4,715

6,559

1,844

Profit14,34910,673(3,676)245

43

14,347

10,627(3,720)

Profit attributable tonon-controlling interests
Profit attributable toowners of parent

166

Increase of bussiness consignment expenses

7,518

1,849

15,814

5,791

19,025

679

51

Increase of personnel cost

11,507Extraordinary losses

23,998

Appendix-2

164(8,375)
744
1,052
648(600)

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, netLand
Construction 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

Sep.302016

157,888
49,955

166,716
66,511

8,828
16,55530,08632,5872,501

30,001

17,111(12,889) Decrease by redemption of marketable securities

27,735

26,689(1,045)600
2,305
17,575726
4,637
18,889

125
2,331
1,313

(372)

(436)

(64)

220,217150,178
33,230215,796
153,657
31,335(4,421)
3,478(1,895)

21,381

20,522(859)

30,31363,20469
1,978
38,401
31,762
6,638
31,63737,331
62,482
192
1,794
35,39030,036
5,353
26,74922,382

17,703

－
9,830

373
9,206

(574)

(534)

40

378,105

382,513

4,407

changeMain factors for increase/decrease

7,017 Increase by scaling investments for vending machines
(722)
122
(184)
(3,011)(1,726)(1,284)(4,888)Decrease by the decline of market capitalization(4,678)of investment securities
373
(623)

Total assets
382,513378,105

Totalassets
Currentassets

166,716
157,888

Property,plant andequipment

153,657
150,178
35,39038,401Intangible
assetsInvestments
and otherassets(million yen)

Sep.302016
Dec.31
2015

26,74931,637050,000100,000

150,000

200,000

Appendix-3

250,000

300,000

350,000

400,000(million yen)Dec. 312015

Sep. 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

56,00658,0412,03519,532

19,258

(273)

2,517

17(2,500)

2,112
21,426

4,671
22,140

2,558
713

355

381

26

10,061
61,22150,000201

11,57260,18850,000188

1,510(1,032)－(13)

Net defined benefit liability

3,375

3,369

(5)

163

185

21

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

6,445
118,230
262,499
15,231109,072
142,786(4,590)(1,035)
1,002
5,930
－
－
5,934
(4)

3,924

1,381

(2,543)

5,217

2,187

(3,029)

(177)

(510)

(332)

1776

59(1,132)

(372)

759

384
260,878402
264,282

173,404

378,105

382,513

4,407

Liabilities for directors'
retirement benefits
Other
Total liabilities
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Accumulated othercomprehensive income
Valuation difference on
available-for-sale securities
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

382,513378,105

Total liabilities
and net assets

118,230
117,227

Totalliabilities

Sep. 30
2016

58,04156,006

Current
liabilities
Long-term
liabilities

Dec. 312015

60,18861,221
264,282
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(January 1, 2016 to September 30, 2016)(million yen)

3Q 2015
Investment

Building & Structure
Machinery & Equipment
Sales equipment
Other
TotalDepreciation

3Q 2016

380
2,078
8,793
1,338
12,591
17,685723
2,738
10,7692,209
16,44012,7492015
actual
440,476
14,262
13,723
9,970

2016
plan
460,200
20,50018,80010,8006. 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
Building & Structure
Machinery & Equipment
Sales equipment
OtherTotal
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-5change
19,723
6,237
5,076
829

% change
4.5
43.7
37.0
8.3

7. Sales Information(January 1, 2016 to September 30, 2016)<Sales volume by brand>(thousand cases, %)3Q 2015

Core 8

Coca-Cola
Coca-Cola Zero
Fanta
Georgia
Sokenbicha
Aquarius
Ayataka
I LOHAS
Other
Total (excl. Shikoku)
Shikoku

3Q 2016% change

11,351
4,937
6,079
33,168
7,895
16,776
13,286
10,49359,135
163,120

11,993
5,346
6,090
35,236
8,042
17,231
14,904
12,59659,438170,876

5.7
8.3
0.2
6.2
1.9
2.7
12.2
20.00.5
4.8

5,832

14,917

155.8

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%

36.2%

34.8%

6.4%

7.4%

I LOHAS

8.2%

8.7%

Ayataka

10.3%

10.1%

Aquarius

4.9%

4.7%

Sokenbicha

20.3%

20.6%

Georgia

3.7%
3.0%

3.6%
3.1%

Fanta
Coca-Cola Zero

7.0%

7.0%

Coca-Cola

3Q 2015

3Q 2016

Other40%

20%

0%

Appendix-6

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

3Q 2016% change

51,75351,871
20,038
8,718
18,705
12,035
163,120

52,10655,992
22,1898,740
19,123
12,726
170,876

0.7
7.9
10.7
0.3
2.2
5.7
4.8

5,832

14,917

155.8

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%

7.4%

7.4%

Other

11.5%

11.2%

Food service

5.3%

5.1%

Retail

12.3%

13.0%

CVS

31.8%

32.8%

Supermarket, etc.

31.7％

30.5%

Vending

3Q 2015

3Q 2016

60%

40%

20%0%

Appendix-7

<Sales volume by package>(thousand cases, %)3Q 2015

PET

Small-sized (less than 850ml)
Medium-sized (less than 1,500ml)
Large-sized (1,500ml or more)
SubtotalCan
Other
Syrup, powder
Total (excl. Shikoku)
Shikoku

3Q 2016% change

46,461
1,173
34,98382,61740,454
10,391
29,657
163,120

50,2602,383
36,49989,14240,704
10,99230,037
170,876

8.2
103.1
4.3
7.9
0.6
5.8
1.3
4.8

5,832

14,917

155.8

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%

18.2%

17.6%

Syrup, powder

6.4%

6.4%

Other

24.8%

23.8%

Can

21.4%

Large PET

60%

40%

21.4%

1.4%

0.7%

Medium PET

20%
28.5%

29.4%

3Q 2015

3Q 2016

0%

Appendix-8

Small PET

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

Dec.312015

Sep. 30
2016

297
22319

Can vending machine
Cup vending machine
Total (excl. Shikoku)change29620316

(1)
(2)
(3)

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

42Shikoku

40(2)

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

31.0

(Source : McNET Inc., May to June)

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

3Q 2015

3Q 2016

Total (excl. Shikoku)
Supermarkets
CVS
Retail stores

22.2
22.1
22.5
18.2

22.7
22.2
22.6
17.9

Drug stores

22.8

22.5

Discount stores

23.2

25.4

－23.3

Shikoku

Note: Market share in 3Q 2015 is revised retroactively due to changes in data acquisition candidates by the research company.
(Source : Intage Inc.)

10. Segment Information(January 1, 2016 to September 30, 2016)(million yen)

3Q 2015

Net revenues
To outside customers
and consumers
Intersegment sales ortransfers

Segment profit

Soft drink

Healthcare andskincare

305,263

3Q 2016
Total

Soft drinkHealthcare andskincare

24,397

329,661

329,261

24,449353,710305,263

24,397

329,661

329,261

24,449353,710－－－－－－

9,369

2,138

11,507

16,5092,516

19,025Total

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

Appendix-9