This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

Consolidated Financial Summary for
Fiscal Year Ended December 31, 2023 (IFRS)
February 14, 2024
Listed company name: Coca-Cola Bottlers Japan Holdings Inc.
Code number: 2579
Delegate: Title: Representative Director & President
Contact: Title: Head of Controllers Senior Group Division, Finance,

Listed stock exchanges: Tokyo
URL: https://en.ccbj-holdings.com/
Name: Calin Dragan
Name: Tatsuhiro Ishikawa Phone: +81-800-919-0509

Expected date of general shareholders meeting: March 26, 2024
Expected date of the dividend payment: March 28, 2024
Expected date of submission of annual securities report: March 27, 2024
FY 2023 supplementary information: Yes
FY 2023 financial presentation: Yes(Fractions of one million yen are rounded to the nearest million)

1. Consolidated financial results for the fiscal year ended December 31, 2023 (from January 1, 2023 to December 31, 2023)(1) Consolidated financial results
Revenue(Percentages indicate changes over the same period in the previous fiscal year)

Business Income

millionyen

millionyen%

Dec. 31, 2023 868,581
Dec. 31, 2022 807,430

Net income for the
Total comprehensive
year attributable toincomeowners of the parent

Net income%

millionyen%

millionyen%

millionyen%

million
yen

%

－
－

3,441
(11,513)

－
－

1,903
(8,059)－－1,871(8,070)－－2,241(4,994)

－
－

7.6
2,025
2.7 (14,443)

Earnings per share

Operating income

Diluted earnings per share

yen

yen

Ratio of income to equity
Ratio of income before tax Ratio of Operating income
attributable to owners of
to total assets
to revenue
the parent%%%

Dec. 31, 2023
10.43
10.36
0.4
(45.00)－(1.7)
Dec. 31, 2022
Reference: Investment gain(loss) on equality method accounted for using equity method
Fiscal Year 2023: (7) million yen
Fiscal Year 2022: 46 million yen

0.4
(1.5)

0.4
(1.4)

※ “Business income” is measure of our recurring business performance. “Business income” deducts cost of sales and selling, general and administrative
expenses from revenue and includes other income and expenses which we believe are recurring in nature.

(2) Consolidated financial position
Total assets

Dec. 31, 2023
Dec. 31, 2022

Equity attributable toEquity attributable to parent Ratio of equity attributableowners of the parent per
ownersto parent owners
share

Total equity

million yen

million yen

million yen%

yen

844,832
826,737

470,021476,358

469,847
476,21655.6
57.6

2,618.49
2,655.38(3) Consolidated cash flows
Net cash generated from (used for)
Operating activities
Investing activities
Financing activities
Year ended

million yen

million yen

million yen

million yen

59,102
42,717(14,287)(23,090)(15,229)(46,050)

113,660
84,074

Dec. 31, 2023
Dec. 31, 2022
2. Dividends

Dividends per share
1Q
yen
－
－

Year ended

Cash and cash equivalents
at end of year

2Q
yen

3Q
yen
－
－

Year-endyen

Annualyen

Total dividend
Dividend
Ratio of dividends
payments
payout ratio
to net assets(annual)(consolidated)(consolidated)%%
million yen
8,967
－
1.9
9,124
1.9
479.4

25.00
25.00
50.00
Dec. 31, 2022
25.00
25.00
50.00
Dec. 31, 2023
Dec. 31, 2024
－
25.00
－
25.00
50.00
(forecast)
3. Forecast of consolidated financial results 2024 (from January 1, 2024 to December 31, 2024)

130.0(Percentages indicate changes over the same period in the previous fiscal year)
Revenue

FY
2024

Business Income

Operating income

Income before tax

Net income

Net income for theyear attributable toowners of the parent

Earnings per
sharemillionyen%

millionyen%

millionyen%

millionyen%

millionyen%

million
yen

%

yen

882,400

1.6

10,000393.8

11,900245.8

11,100

244.3

6,900

262.6

6,900

268.8

38.45

1

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

Notes(1) Changes in significant subsidiaries during the current period:: None(2) Changes in accounting policies, changes in accounting estimates:
1) Changes in accounting policies as required by IFRS:
2) Changes other than those in 1) above
3) Changes in accounting estimates: None: None: None(3) Number of outstanding shares (common shares)
1) Number of outstanding shares at the end of period (including treasury shares):
FY 2023: 206,268,593 shares
FY 2022: 206,268,593 shares
2) Number of treasury shares:
FY 2023: 26,834,199 shares
FY 2022: 26,928,478 shares
3) The number of average shares outstanding:
FY 2023: 179,382,511 shares
FY 2022: 179,342,220 shares
Notes: The Company has introduced Executive reward BIP Trust and Stock-granting ESOP Trust during the current year. The Company shares held bythese trusts are included in the treasury shares to be deducted from the number of treasury shares at the end of the year and the number of average shares
during the year.

(Reference) Summary of the Non-consolidated Financial Results
1. Non-consolidated financial results for the fiscal year ended December 31, 2023 (from January 1, 2023 to December 31, 2023)(1) Non-consolidated financial results(Percentages indicate changes over the same period in the prior fiscal year)

Operating revenue
Year ended

Dec. 31, 2023
Dec. 31, 2022

million yen

Operating income

Recurring income

Net income%

million yen%

million yen%

million yen

6,052

7.3

1,548

(19.7)

1,301(30.4)

1,349(13.7)

5,640

(2.7)

1,927

25.1

1,869

55.6

1,562

(91.5)

Earnings per
share

Dec. 31, 2023
Dec. 31, 2022%

Diluted earnings per
share
yen

yen

7.52
8.71

7.47
8.68

(2) Non-consolidated financial position
Total assets

Net assets

Net assets to total assets

Net assets
per share

As ofmillion yen

million yen%

yen

Dec. 31, 2023
Dec. 31, 2022

498,355

336,84467.6

1,877.26

Reference: Net assets

502,941
Fiscal Year 2023: 336,844 million yen

344,402
68.5
Fiscal Year 2022: 344,402 million yen

1,920.38※ The consolidated financial summary is not subject to audit procedures conducted by certified public accountant or audit firm.
※ Explanation regarding appropriate use of the forecast, other special instructions
Figures in the above forecast are based on information available at the time of issuance of this report, and the actual results may be changed materially due to anumber of inherent uncertainties in the forecast. Furthermore, please refer to “1. Qualitative Information on the Financial Summary (1) Qualitative
Information on Consolidated Financial Results (outlook for next fiscal year) on page 7.

2

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

Table of Contents
1. Qualitative Information on the Financial Summary .............................................................................................................................. 4(1) Qualitative Information on Consolidated Financial Results............................................................................................................. 4(2) Qualitative Information on Consolidated Financial Position ........................................................................................................... 8(3) Basic Policies for Income Distribution and Dividends for FY2023 and FY2024 ............................................................................ 8
2. Basic Concept Concerning the Selection of Accounting Standards ....................................................................................................... 8
3. Condensed Consolidated Financial Statements and Notes .................................................................................................................... 9(1) Condensed Consolidated Statement of Financial Position ............................................................................................................... 9(2) Condensed Consolidated Statements of Income and Comprehensive Income ............................................................................... 11(3) Condensed Consolidated Statements of Changes in Equity............................................................................................................ 13(4) Condensed Consolidated Statements of Cash Flows...................................................................................................................... 14(5) Notes to Consolidated Financial Statements .................................................................................................................................. 16(Notes Relating to Going Concern Assumption) ............................................................................................................................. 16(Segment Information, etc.) ............................................................................................................................................................. 16(Earnings per share information) ..................................................................................................................................................... 16(Subsequent Events) ........................................................................................................................................................................ 16
4. Others .................................................................................................................................................................................................. 17
Changes in key consolidated management indicators...................................................................................................................... 173

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

1. Qualitative Information on the Financial Summary(1) Qualitative Information on Consolidated Financial Results
Coca-Cola Bottlers Japan Holdings Inc. (“CCBJH,” the “Company,” or “we”) announced the full-year results for the fiscal
year (January 1, 2023, to December 31, 2023).
In this fiscal year, the total domestic nonalcoholic ready-to-drink (NARTD) beverage industry volume is estimated to havegrown by about 1% versus the previous fiscal year. Although demand continued to increase on the back of a recovery in traffic,
resumption of economic activity and the heat wave, the negative impact on demand from the price revisions implemented bybeverage companies had an impact. The business environment remained uncertain as the rising commodity, utility prices, andthe yen's depreciation impacted business and consumer behavior.
Under these circumstances, we have positioned 2023 as the “Year of profit focus,” and have prioritized improving profitability.
In commercial activity, we implemented two price revisions as one of the most important initiatives for profitability improvementwith a focus on steady implementation and maintaining shipping prices following the price revisions. In addition, we have beenthoroughly implementing disciplined commercial activities throughout the year to maximize the effects of improved profitability
and investment efficiency. To capture the increased demand from both the record breaking heat wave and recovery in traffic, wehave worked to grow revenue by growing sales volume and improving wholesale revenue per case by introducing new products,
implementing efficient and effective marketing activities, and strengthening customer engagement. In the manufacturing andsupply chain fields, while faced with rising commodity, utility prices, and the yen's depreciation, to capture the opportunity ofincreased demand for sales volume and profit growth, we have worked on the stable operation of the Sales and Operations
Planning process (S&OP), which was revamped in the previous year, and improved the supply network to ensure stable supplyof products and reduction of total manufacturing and logistics costs. We expanded capacity with a new line at the Ebina Plant
and other initiatives to improve manufacturing processes. We reduced transport distance per case by building a supply networkby area and leveraging Mega Distribution Centers (DCs).
In August, we announced “Vision 2028,” our strategic business plan that runs from 2024 to 2028. KPI targets are annual revenue
growth of 2 to 3%, a business income margin of 5% or higher, and return on invested capital (ROIC) of 5% or higher by 2028.
We have outlined our key strategies and commitments to achieve this plan. Additionally, we are working to implement key
transformation initiatives ahead of schedule. We are executing marketing and human capital investments to foster growth in 2024
and beyond. This effort aims to start "Vision 2028" with a strong momentum.
We are working to realize ESG targets based on creating shared value with society. We have launched several collaborative
initiatives with our customers and government agencies. These include conserving water resources and enhancing PET bottle
recycling. Through collaboration to foster a recycling-based society, we aim to reduce environmental impact and expand business
opportunities.
To contribute to communities through business activity, we donate products to food banks and deploy vending machines that
support local activities. As part of our human capital management, we promote Diversity, Equity & Inclusion (DE&I) to createa friendly working environment for employees with different backgrounds and values. Our ESG initiatives, including these
efforts, have received high recognition. For the sixth consecutive year, leading global ESG investment index DJSI Asia Pacifichas selected our company as a component of the index.
Details for the fiscal year earnings are as follows. Please also refer to our earnings presentation material available on the
Company IR website (https://en.ccbj-holdings.com/ir/library/presentation.php) to be used in our earnings conference call on
Thursday, February 15, 2024 at 1:30 PM (JST). These will include details of the results and outlook. The earnings presentation
audio webcast will be available live and on demand through our company website.

4

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

Summary of Business Performance(Millions of yen except sales volume)

Full Year (January to December)
807,430478
351,755
365,295
974
1,924
46
(14,443)
8,338
5,408
(11,513)868,581492
384,216
381,022
728
1,890
(7)
2,025
4,429
3,012
3,441

Change
(%)
7.6
3
9.2
4.3
(25.3)(1.8)－－(46.9)(44.3)－(8,070)1,871－

204,756
113
89,621
93,062194588(8)(3,842)
2,252
1,089(2,680)(1,991)

Change
(%)
4.9
1
6.1
7.0
(30.9)(40.1)－－
150.1(48.5)－－

2022
Revenue
Sales volume (million cases)
Gross Profit
Selling, General & Administrative Expenses
Other income (Recurring)
Other expenses (Recurring)
Investment income (loss) on equity method
Business Income (Loss)
Other income (Non-recurring)
Other expenses (Non-recurring)Operating Income (Loss)Net Income (Loss) Attributable to Owners of Parent

2023(For reference)The fourth quarter (October to December)
2022
195,109112
84,43986,973280
982(11)(3,247)900
2,114(4,460)(2,876)

Revenue
Sales volume (million cases)
Gross Profit
Selling, General & Administrative Expenses
Other income (Recurring)
Other expenses (Recurring)
Investment loss on equity method
Business Loss
Other income (Non-recurring)
Other expenses (Non-recurring)Operating Loss
Net Loss Attributable to Owners of Parent2023* 1. “Business income(loss)” is measure of our recurring business performance. “Business income(loss)” deduct cost of sales and selling, generaland administrative expenses from revenue, and includes other income and expenses which we believe are recurring in nature.
2. Sales volume in 2022 is revised retroactively due to changes of counting segmentation and scope in some products.

Consolidated revenue was 868,581 million yen (an increase of 61,150 million yen or 7.6% from the previous year). Despite
the negative impact on volume following price revisions, sales volume increased by 3% versus the previous year. This wasachieved with the introduction of new products, effective marketing activities captured demand opportunity from recovering
traffic, and the heat wave. Efforts were also made to strengthen customer engagement. Since 2022 we have implemented a seriesof price revisions. Our efforts to enhance and maintain revised shipping prices of products have improved wholesale revenue
per-case in all channels, with revenue growth exceeding the sales volume growth rate.
Consolidated business income improved by 16,468million yen and was 2,025 million yen (14,443 million yen loss in prioryear period). This improvement is attributed to profit contributions from top-line growth, sales volume, and wholesale revenue
per case. A reduction in marketing expense, achieved through cost-effectiveness, also played a role. Lower logistics costs fromsupply chain improvements were also a factor. Despite the impact of higher commodity and utility prices, and yen depreciation,
profitability improved. Commercial activities captured growth opportunities from the heat wave. The steady implementation of
key transformation initiatives to improve profitability generated benefits ahead of plan. Full-year business income returned to
profit and exceeded the plan that was revised upwards in November 2023.

5

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
Consolidated operating income improved by 14,954million yen and was 3,441 million yen (11,513 million yen loss in prioryear period). In addition to business income growing versus the previous year being the primary reason, there was a cycling
impact of gains from Government subsidies for temporary leave recorded in the previous year which lowered other income (nonrecurring). Other income (non-recurring) includes 4,401 million yen in gains on sales and disposals of property, plant, andequipment, which was realized in the process of improving the balance sheet this year. Other expenses (non-recurring) include
2,491 million yen in business structure improvement expenses related to the implementation of fundamental transformation.
Net income attributable to owners of the parent improved by 9,941 million yen with operating income growing from the prioryear period and was 1,871 million yen (8,070 million yen loss in prior year period).
Sales volume trends (% change from same period of previous fiscal year)
Sales volume grew by 3% for the full year. As a benefit of the price revisions, wholesale revenue per case improved by morethan double digits versus the previous year in all channels. For the fourth quarter (October 1, 2023, to December 31, 2023),
although impacted by a decrease in volume from the October price revisions for large PET bottles, sales volume increased by
1% with the cycling of the price revisions for small packages implemented in the previous fiscal year.
By channel, sales volume declined by 4% in supermarkets despite campaigns and product launches to capture opportunities
for increased demand driven by recovering traffic and the heat wave. In the main this was due to a decrease in volume following
the series of price revisions implemented since 2022. Sales volume at drugstores and discounters despite being impacted byprice revisions increased by 2% with sales volume growth in large and medium PET bottles, reflecting market expansion in thischannel as consumers become more cost-conscious. Vending sales volume grew by 1%, supported by the market share base wehave built to date and by campaigns implemented through the Coke ON smartphone app, contributing to capturing demand fromthe heat wave and traffic recovery. The price revision of small PET bottle and can products continued to impact vending volume.
Wholesale revenue per case in vending improved greatly from the previous year with the price revisions. In CVS, although thecompetitive environment remained severe, efforts aimed at expanding our mainstay products carried at customer stores,
expanding shelf space and strengthening customer engagement, have started to show results from the third quarter onwards
resulting in a 5% increase in sales volume for the full year. In retail & food, sales volume increased by 10% with the traffic
returning to restaurants and amusement facilities. In online, volume grew by 12% despite the intensifying competitiveenvironment, strengthened product lineup and tie-up promotions implemented together with contributions from major online
customers.
By beverage category performance, sparkling sales volume grew by 3%, with volume growth centered around Coca-Cola atvending and restaurants with the recovery in traffic, and contributions from product renewals such as Sprite. Sales volume oftea products declined by 1% due to impact from the price revisions, despite the contributions from Yakan no Mugicha fromSokenbicha which continues to enjoy sales growth since its launch and from the heat wave driving demand. Coffee sales volume
increased by 2%, supported by the new Georgia THE Black, launched together with the Georgia rebranding. Medium PET bottle
products captured at-home demand, despite volume being impacted from the price revisions. In sports, sales volume decreased
by 4% due to the price revision impact, despite the contribution from new product Aquarius NEWATER. Water sales volume
grew by 13% with demand driven by the heat wave and contributions from the I LOHAS Natural Water with the 2022 renewedbottle design and I LOHAS Peach. Juice sales volume increased by 13% with the recovery at restaurants as well as contributions
from new product Minute Maid Gyutto! Fruits.
In the alcohol category, despite the contributions from new products such as Jack Daniel's & Coca-Cola, and non-alcoholic
beverages such as Yowanai Lemon-dou which has been performing well since its launch, sales volume was impacted by theprice revisions and declined by 12%6This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(Outlook for next fiscal year)
Regarding outlook for the total domestic NARTD beverage market, although the increase in traffic is expected to continue tocontribute to an increase in demand for beverages, the market will be affected by the cycling of the heat wave in 2023 and a
decline in consumer sentiment due to domestic inflation, including price revisions for beverages, we expect a slight decrease
from 2023 on a volume basis in the beverage market in 2024. In addition, the outlook for commodity and utility prices, package
material prices, and exchange rates remains uncertain, so due to these external factors expected to increase cost pressures, we
expect the environment to remain challenging.
Under these circumstances, we have positioned 2024 as "a year to strongly build up profit," as the first year of the strategic
business plan "Vision 2028," announced in August 2023, and we will work on top-line growth strategy focused on profit
maximization, cost saving by promoting company-wide transformation and further strengthening the business foundation.
In the commercial area, we will focus on initiatives aimed at profitable top line growth, through investing in core categories,
strengthening our product portfolio through innovation, further transformation of vending channels leveraging technology,
thoroughly conducting commercial activities that emphasize profitability including price revisions and strengthening strategic
partnerships with key customers. Regarding initiatives by channel, in the important vending channel, we will continue to pushahead with our key transformation initiatives such as placing new vending machines focusing on investment efficiency,
implement various measures to increase sales revenue per vending machine and investing in technology foundation that willlead to future growth. In the over the counter channel, we will implement initiatives tailored to the industry and characteristics
of our customers, such as product development and sales floor expansion to meet consumer needs and disciplined commercial
activities including optimization of marketing investments. In the food service channel, we will continue to work on expanding
the line of our products by customers and optimization of sales equipment and product lineup with emphasis on profitability.
In January 2024, we implemented a reorganization centered on these three channels, with the aim of speeding up decisionmaking and improving the driving force of each channel's growth strategy in the commercial organization. In addition, as astrong partnership that will drive growth, we will continue to strengthen our partnership with Coca-Cola (Japan) Co., Ltd.
In the supply chain area, we will strive to further optimize our supply chain network by leveraging the strong infrastructure
built to date. Specifically, by increasing manufacturing capacity through improved plant productivity, building a flexible
manufacturing system and optimizing the logistics network, we will promote a "local production for local consumption
model," manufacturing products in factories close to the place of consumption, pursue total optimization of the end-to-end
process, and reduce transport distance per case to reduce costs and address social issues. Also, by improving the accuracy of
the Sales and Operations Planning( S&OP) process and leveraging our mega-DCs, we aim for stable and low-cost supply. We
will also work to improve asset turnover through consolidation of sales and distribution centers, effective utilization of existing
facilities, and reduction of product inventories by improving the accuracy of inventory management.
In the field of back office and IT, as part of our digital transformation (DX), we will further standardize and automate businessprocesses using technology, integrate various IT systems and data, and promote data-driven management. In addition, we will
improve ROIC (return on invested capital) as stated in "Vision 2028" by improving capital efficiency through appropriate
management of capital investment and improvement of the balance sheet. We will also focus on promoting sustainability
strategies and human capital management that contribute to sustainable growth.
As a result, we expect consolidated revenue in fiscal year 2024 will be 882,400 million yen, an increase of 1.6% versus
previous year with benefits from price revisions, due to sales volume growth +0.5% versus previous year and improvements
in mix and wholesale revenue per case. Consolidated business income is expected to be 10,000 million yen, an increase of
393.8% versus previous year. Consolidated operating income is expected to be 11,900 million yen, an increase of 245.8%
versus previous year. Net income attributable to the owners of the parent is expected to be 6,900 million yen, an increase of
268.8% versus previous year.

7This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(2) Qualitative Information on Consolidated Financial Position
Assets at the end of the year were 844,832 million yen, an increase of 18,096 million yen from the end of the previous fiscal
year. This is mainly due to an increase in “Cash and cash equivalents” and “Trade and other receivables”, while a decrease in“Property, plant, and equipment” through the progress made in balance sheet optimization.
Liabilities at the end of the year were 374,812 million yen, an increase of 24,434million yen from the end of the previous
fiscal year. This is mainly due to an increase in “Trade and other payables” and “Income taxes payables.”Equity at the end of the year was 470,021 million yen, a decrease of 6,338 million yen. This mainly reflects a decrease in“Retained earnings” due to dividend payments, while net income for the year was recorded.
The cash flow conditions for the current fiscal year are as follows:<Cash Flows from Operating Activities >Net cash generated from operating activities was 59,102 million yen (42,717 million yen generated from operating activities
in the previous fiscal year). This is mainly due to an income before income taxes of 3,224 million yen, “Depreciation andamortization” and an “Increase in trade and other payables” were recorded.
<Cash Flows from Investing Activities>
Net cash used for investing activities was 14,287million yen (23,090 million yen used for investment activities in the previous
fiscal year). This is mainly due to “Payments for acquisitions of property, plant, and equipment and intangible assets,” while“Proceeds from sales of property, plant and equipment and intangible assets” and “Proceeds from sale of other financial assets”
through the progress made in balance sheet optimization were recorded.
<Cash Flows from Financing Activities>
Net cash used for financing activities was 15,229 million yen (46,050 million yen used for financing activities in the previous
fiscal year). This is mainly due to “Dividends paid.”
As a result of these activities, cash and cash equivalents at the end of the year were 113,660 million yen, an increase of
29,586 million yen compared to the end of the previous fiscal year.
(3) Basic Policies for Income Distribution and Dividends for FY2023 and FY2024
We periodically review its capital structure and dividend payout ratio to maximize shareholder returns while maintaining
flexibility to pursue growth opportunities. We seek to use retained earnings to fund investment for sustainable growth for ourbusiness and further enhancement of corporate value.
We set its basic policy regarding dividends, which includes active redistribution of profits while placing the highest priority
on paying dividends in a stable manner, by comprehensively reviewing the business performance and level of retained earnings.
In addition, we have set a payout ratio target of 30% or more for net income attributable to owners of the parent. We pay interim
and year-end dividends. For the fiscal year ending December 31, 2023, we paid an interim dividend of 25 yen per share and plan
to pay a year-end dividend of 25 yen per share, for a total annual dividend of 50 yen per share to pay. For the fiscal year ending
December 31, 2024, we seek to maintain its basic policy on stable dividend payment by setting the dividend forecast of annual
total of 50 yen per share paid (25 yen per share as interim dividend and 25 yen per share as year-end dividend), which is sameamount as in the fiscal year ending December 31, 2023.
On future shareholder returns, we stay committed by comprehensively reviewing its business performance trends andfinancial conditions and examining the best approaches that could be taken by including the share repurchase program.

2. Basic Concept Concerning the Selection of Accounting Standards
Coca-Cola Bottlers Japan Holdings Group (The Group) discloses consolidated Financial Statements based on International
Financial Reporting Standards (IFRS) starting from the fiscal year ending December 2018, with a view to enhancing theinternational comparability of financial statements and contributing to the improved convenience for shareholders and investorsof the Company.

8

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

3. Condensed Consolidated Financial Statements and Notes(1) Condensed Consolidated Statement of Financial Position
Previous fiscal year
As of December 31, 2022
AssetsCurrent assets:
Cash and cash equivalents
Trade and other receivables
Inventories
Other financial assets
Other current assets
Total current assets
Non-current assets:
Property, plant, and equipment
Right-of-use assets
Intangible assets
Investments accounted for using the equity
methodOther financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets

9(Millions of yen)
Current fiscal year
As of December 31, 2023

84,074
103,346
71,051
542
13,108113,660
120,069
71,651
88
8,288

272,122

313,756

425,009
21,841
65,865

401,687
23,89463,819322

310

15,88820,581
5,110
554,615

11,89825,222
4,245
531,077

826,737

844,832This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
Previous fiscal year
As of December 31, 2022

(Millions of yen)
Current fiscal year
As of December 31, 2023

Liabilities and equity
Liabilities
Current liabilities:
108,254
1,000
5,122
654
1,272
20,339116,61240,979
5,267
1,111
4,176
29,297

Total current liabilities
Non-current liabilities:
Bonds and debts
Lease liabilities
Other non-current financial liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities

136,641

197,443

155,701
18,146
8
17,817
1,761
17,157
3,147
213,737

114,802
20,34915
19,856
1,781
16,757
3,809
177,369

Total liabilities

350,378

374,812Equity:Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income

15,232451,264
94,209(85,667)
1,177

15,232
451,389
88,365(85,362)223

Equity attributable to owners of parent
Non-controlling interests

476,216
142

Total equity

476,358

469,847174
470,021826,737

844,832

Trade and other payables
Bonds and debts
Lease liabilities
Other financial liabilities
Income taxes payables
Other current liabilities

Total liabilities and equity

10This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(2) Condensed Consolidated Statements of Income and Comprehensive Income(Consolidated Statements of Income)Revenue
Cost of sales
Gross profit
Selling and general administrative expenses
Other income
Other expenses
Investment income(loss) on equity method
Operating income (loss)
Financial revenue
Financial expense
Income (Loss) for the year before income taxes
Income tax expense (benefit)
Net income (loss) for the year

For the year ended
December 31, 2022
807,430
455,675
351,755
365,295
9,312
7,332
46
(11,513)264
1,242(12,491)(4,432)(8,059)Net income (loss) for the year attributable to
Owners of the parent
Non-controlling interests
Earnings (Losses) per share (yen)Diluted earnings per share (yen)11(Millions of yen)
For the year ended
December 31, 2023
868,581484,364
384,216
381,022
5,156
4,902
(7)
3,441
535
753
3,224
1,321
1,903

(8,070)
11

1,871
32

(45.00)
-

10.43
10.36

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(Consolidated Statements of Comprehensive Income)Net income (loss) for the period
Other comprehensive income
Items that will not be reclassified subsequently to income or
loss:
Remeasurements of defined benefit plans
Net change in financial assets measured at fair value
through other comprehensive income
Subtotal
Items that may be reclassified subsequently to income orloss:
Cash flow hedges

For the year ended
December 31, 2022
(8,059)(Millions of yen)
For the year ended
December 31, 2023
1,903

1,523

33

292

893

1,815

926

1,250

(587)

Subtotal
Total other comprehensive income for the period

1,250
3,065

(587)
338

Total comprehensive income for the period(4,994)2,241

Comprehensive income attributable to:
Owners of parent
Non-controlling interests(5,005)
11

2,209
32

12

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(3) Condensed Consolidated Statements of Changes in Equity
The previous fiscal year ended December 31, 2022
(Millions of yen)
Equity attributable to owners of the parent

Capital stock

Balance as of January 1, 2022

CapitalsurplusRetainedearnings

Accumulated othercomprehensive
incomeTreasuryshares

15,232450,832

109,273(85,661)

Net loss for the period－－(8,070)

Other comprehensive income

－

－

－

－

－

(8,070)

Dividends of surplus－－

Purchase of treasury shares－－

Disposal of treasury shares－

Transactions of share-based payment

Noncontrollinginterests

Total

2,644

492,320

－

－

－

3,065

－

(8,967)
－

(0)

－

－

432

－

－

Total

131

492,451(8,070)11(8,059)

3,065

－

3,065

3,065

(5,005)

11(4,994)－－(8,967)－(8,967)

(6)

－

(6)

－

(6)

0

－

0

－

0

－

－

－

432

－

432

1,974

－

(1,974)－－－Comprehensive income for the period

Total comprehensive income for the period
Transactions with owners

Reclassification from accumulated other comprehensive
income to retained earnings
Reclassification from accumulated other comprehensive
income to non-financial assets
Total transactions with owners
Balance as of December 31, 2022

－

－

－

－

(2,558)(2,558)－(2,558)－432(6,993)(5)(4,532)(11,099)－(11,099)

15,232451,264

94,209(85,667)

1,177

476,216142

476,358

The current fiscal year ended December 31, 2023
(Millions of yen)
Equity attributable to owners of the parent

Capital stock

Balance as of January 1, 2023

CapitalsurplusRetainedearnings

Treasuryshares

15,232451,264

94,209(85,667)

Net income for the period

－

－

1,871

Other comprehensive income

－

－

－

－

－

1,871

Dividends of surplus－－

Purchase of treasury shares－－

Disposal of treasury shares

－

(149)

Transactions of share-based payment－－

Accumulated othercomprehensive income

Noncontrollinginterests

Total

Total

1,177

476,216142

476,358

－

－

1,871

32

1,903

－

338

338

－

338

－

338

2,209

32

2,241

(8,967)－－(8,967)－(8,967)

－

(5)

－

(5)

－

(5)

－

310

－

162

－

162

273

－

－

－

273

－

273

－

1,252

－

(1,252)－－－Comprehensive income for the period

Total comprehensive income for the period
Transactions with owners

Reclassification from accumulated other comprehensive
income to retained earnings
Reclassification from accumulated other comprehensive
income to non-financial assets
Total transactions with owners
Balance as of December 31, 2023

－

－

－

－

(41)

(41)

－

(41)

－

125

(7,715)305(1,293)(8,579)－(8,579)15,232

451,389

88,365(85,362)223

469,847174

470,021

13

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(4) Condensed Consolidated Statements of Cash Flows(Millions of yen)
For the year ended
December 31, 2022

For the year ended
December 31, 2023

(12,491)

3,224

45,786
20
(655)
(237)
750

46,460
288
(29)
(178)
660

(46)

7

(4,587)(4,425)

2,111

1,258

2,603
(3,450)
2,611
1,379
2,541
4,910
2,521
43,7670237(654)(4,820)4,187
42,717(16,711)
(600)
2,475
10,8402,089
10,0395,768
61,1640
178(577)(3,627)
1,964
59,102(32,674)(31,624)

7,127

11,806

(25)
2,432
51

(21)
5,542
11

(23,090)(14,287)

Cash flows from operating activities
Income (loss) before income taxes
Adjustments for:
Depreciation and amortization
Impairment loss
Decrease in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Shares of loss (income) of entities accounted for using
equity method
Gain on sale of property, plant, and equipment
Loss on disposal and sale of property, plant and equipment
and intangible assets(Increase) Decrease in trade and other receivables
Increase in inventories
Decrease in other assets
Increase in trade and other payables
Increase in net defined benefit liabilities
Increase in other liabilities
OthersSubtotalInterest received
Dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash generated from operating activities
Cash flows from investing activities
Payments for acquisitions of property, plant and equipment
and intangible assets
Proceeds from sales of property, plant and equipment andintangible assets
Payments for purchases of other financial assets
Proceeds from sale of other financial assets
OthersNet cash used for investing activities

14

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
For the year ended
December 31, 2022
Cash flows from financing activities
Decrease in short-term loans payable
Repayments of long-term loans payable
Payments for bond redemption
Dividends paid
Proceeds from disposal of treasury shares
Payments for purchases of treasury shares
Repayments of lease liabilities
Net cash used for financing activities
Net change in cash and cash equivalents (decrease)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year

15

For the year ended
December 31, 2023

(38)
(1,065)(30,000)(8,967)0(6)(5,974)－(1,000)－(8,967)162(5)(5,418)(46,050)(26,422)
110,497
84,074(15,229)
29,586
84,074
113,660

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.
(5) Notes to Consolidated Financial Statements(Notes Relating to Going Concern Assumption)
Not applicable.
(Segment Information, etc.)
As the Group operates a single segment of the beverage business, the reportable segment explanation is omitted.
(Earnings per share information)
The calculation of basic earnings(loss) per share attributable to owners of the parent is based on the net income (loss) attributableto owners of the parent and the weighted average number of common shares issued.
The basis for calculating the basic earnings (loss) per share and diluted earnings per share for previous fiscal year and current
fiscal year are as follows:
For the year ended
For the year ended
December 31, 2022
December 31, 2023
Income (Loss) attributable to owners of parent (millionsof yen)Weighted-average number of common shares issued (inthousands)
Increase in common shares
Share of share-based compensation (in thousands)
Diluted weight average number of shares (in thousands)
Earnings(losses) per share (yen)Diluted earnings per share (yen)(8,070)1,871

179,342

179,383－－

1,227
180,609(45.00)
－

10.43
10.36

Notes: 1. “Diluted earnings per share” is not shown in the previous fiscal year, as 751 thousand shares of share-based
compensation have an antidilutive effect.
2. We have introduced Executive reward BIP Trust and Stock-granting ESOP Trust. The Company shares held by thesetrusts are included in the treasury shares to be deducted from the weighted average number of common shares during theyear for calculating the amount of earnings(losses) per share and diluted earnings per share. The weighted average numberof common shares deducted was 26,886 thousand shares for current fiscal year.

(Subsequent Events)
Not applicable.

16This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or
omissions, the Japanese language version shall prevail.

4. Others
Changes in key consolidated management indicatorsIFRS
FY2019FY2020

FY2021

FY2022

FY2023(million yen)

890,009791,956

785,837

807,430

868,581

(%)

(4.0)

(11.0)

(0.8)

2.7

7.6

(million yen)

(58,904)(11,722)(20,971)(11,513)

3,441

Operating margin

(%)

(6.6)

(1.5)

(2.7)

(1.4)

0.4

Recurring income(million yen)

－

－

－

－

－

(%)

－

－

－

－

－

(million yen)

(58,922)(12,065)(21,683)(12,491)

3,224

(%)

(6.6)

(1.5)

(2.8)

(1.5)

0.4

(million yen)

(57,952)(4,715)(2,503)(8,070)

1,871

Net revenues attributable toowners of the company

(%)

(6.5)

(0.6)

(0.3)

(1.0)

0.2

Total comprehensive income(million yen)

(52,108)(2,228)759(4,994)

2,241

Earnings(Losses) per share(yen)(322.22)(26.29)(13.96)(45.00)10.43

Diluted earnings per share

(yen)

－

－

－

－

10.36

ROE

(%)

(10.7)

(0.9)

(0.5)

(1.7)

0.4

ROA

(%)

(6.4)

(1.3)

(2.4)

(1.5)

0.4

Total assets(million yen)

952,444939,603

867,111826,737

844,832

Total equity(million yen)

506,491

502,093492,451

476,358

470,021

Ratio of equity attributable toparent owners

(%)

53.1

53.4

56.8

57.6

55.6

Equity attributable to owners of
the parent per share(yen)

2821.27

2,797.03

2,745.12

2,655.38

2,618.49

Ratio of equity attributable toparent owners(times)(8.7)(61.2)(94.6)(31.9)

194.2

Revenues
Revenues growth rate
Operating income(loss)

Recurring income margin
Income (Loss) for the year before
income tax
Ratio of income for the year
before income tax to net sales
Net income(loss) attributable toowners of the company

Notes:
1.
2.

Fractions of one million yen are rounded to the nearest million. In addition, the ratio is rounded to the nearest number.
In the FY2020, the Healthcare and Skincare business has been classified as a discontinued operation as a result of thedecision to sell all shares in Q'sai held by the Company. As a result, revenue, Business Income and operating loss for theprevious financial year have been reclassified to the amounts for continuing operations excluding discontinued

3.

operations.
Diluted earnings per share through FY2020 are not shown in the above table, as there are no residual shares. Diluted
earnings per share is not presented in the FY2021 and FY2022, as the effects of dilutive stock on earnings per share are
antidilutive in the FY2021 and FY2022.

4.

The Company has introduced Executive reward BIP Trust and Stock-granting ESOP Trust in the FY2023.The Company
shares held by these trusts are recorded as treasury shares in the consolidated financial statements. Accordingly, theCompany shares held by these trusts are included in the treasury shares to be deducted from the end of years’ share forthe calculation of equity attributable to owners of the parent per share. Also, the Company shares held by these trusts areincluded in the treasury shares to be deducted from the number of weighted-average common shares during the year forthe calculation of basic earnings(losses) per share and diluted earnings per share.
End of document17