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, 2022 (IFRS)
February 9, 2023
Listed company name: Coca-Cola Bottlers Japan Holdings Inc.
Listed stock exchanges: Tokyo
Code number: 2579
URL: https://en.ccbj-holdings.com/
Delegate: Title: Representative Director & President
Name: Calin Dragan
Contact: Title: Head of Controllers Senior Group Division, Finance, Name: Tatsuhiro Ishikawa Phone: +81-800-919-0509
Expected date of general shareholders meeting: March 28, 2023
Expected date of the dividend payment: March 29, 2023
Expected date of submission of annual securities report: March 29, 2023
FY 2022 supplementary information: Yes
FY 2022 financial presentation: Yes(Fractions of one million yen are rounded)

1. Consolidated financial results for the fiscal year ended December 31, 2022 (from January 1, 2022 to December 31, 2022)(1) Consolidated financial results
Revenuemillionyen

Dec. 31, 2022 807,430
Dec. 31, 2021 785,837(Percentages indicate changes over the same period in the prior fiscal year)
Operatingincome(loss)

Business Income(loss)
millionyen％％

millionyen％

millionyen％

millionyen％

million
yen

％

－
－

(11,513)(20,971)－－(8,059)(2,525)－－(8,070)(2,503)－－(4,994)759－－

2.7 (14,443)(0.8) (14,662)

Net loss per share

Net income(loss)

Net income(loss) for
the year attributable Total comprehensive
to owners of theincome(loss)
parentRatio of income to equity
Ratio of income before tax Ratio of Operating income
attributable to owners of
to total assets
to revenue
the parent％％％

Diluted earnings per share

yen

yen

Dec. 31, 2022
(45.00)
－
(1.7)
(1.5)
(1.4)
(13.96)
－
(0.5)
(2.4)
(2.7)
Dec. 31, 2021
Reference: Investment gain(loss) on equality method accounted for using equity method
Fiscal Year 2022: 46 million yen
Fiscal Year 2021: (162) million yen*1. “Business Income” is a measure of our recurring business performance that is calculated as costs of goods and selling, generaland administrative expenses are deducted from revenue, and other income and expenses which we believe are recurring in nature
are added and subtracted accordingly.
2. Net loss and Net loss for the year attributable to owners of parent for FY 2021 result is a total of continuing operation anddiscontinued operation results.

(2) Consolidated financial position
Total assets

Dec. 31, 2022
Dec. 31, 2021

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

826,737
867,111476,358
492,451476,216
492,32057.6
56.8

2,655.38
2,745.12(3) Consolidated cash flows
Net cash from (used in)Investing activities

Operating activities

Financing activities

Cash and cash equivalents
at end of year

Year ended

million yen

million yen

million yen

million yen

Dec. 31, 2022
Dec. 31, 2021

42,71735,982(23,090)
15,271(46,050)(67,134)

84,074110,497

2. Dividends
Dividends per share(Record date)

1Q

2Q

3Q

Year ended

yen
－
－

yen
25.00
25.00

yen
－
－

－

25.00

－

Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2023
(forecast)Year-end

Annual

yen

yen

25.00
25.00

50.00
50.00

25.00

50.00

Total dividend
Dividend
Ratio of dividends
payments
payout ratio
to net assets（annual）(consolidated)(consolidated)%%
million yen
－
8,967
1.8
8,967
1.9
－
－

3. Forecast of consolidated financial results 2023 (from January 1, 2023 to December 31, 2023)
Revenue

Full year
2023

Business Income(Percentages indicate changes over the same period in the prior fiscal year)
Net income for the year
Earnings per
Operating income
Net income
attributable to owners
shareof the parent

million yen％

millionyen％

millionyen

847,100

4.9(5,000)－(5,300)％－

millionyen％

million yen％

yen(4,300)－(4,300)－(23.98)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: Yes* For details, please refer to "3. Consolidated Financial Statements and Notes (5) Notes to Consolidated Financial Statements(Changes in Accounting Estimates)" on page 16 of the attached materials.

(3) Number of outstanding shares (common shares)
1) Number of outstanding shares at the end of period (including treasury shares):
FY 2022: 206,268,593 shares
FY 2021: 206,268,593 shares
2) Number of treasury shares:
FY 2022: 26,928,478 shares
FY 2021: 26,924,631 shares
3) The number of average shares outstanding:
FY 2022: 179,342,220 shares
FY 2021: 179,345,969 shares(Reference) Summary of the Non-consolidated Financial Results
1. Non-consolidated financial results for the fiscal year ended December 31, 2022 (from January 1, 2022 to December 31, 2022)(1) Non-consolidated financial results(Percentages indicate changes over the same period in the prior fiscal year)

Operating revenue
Year ended

Dec. 31, 2022
Dec. 31, 2021

Operating income

Net income

million yen%

million yen%

million yen%

million yen

%

5,640
5,797

(2.7)
(69.8)

1,927
1,540

25.1
(89.6)

1,869
1,201

55.6
(91.6)

1,562
18,395(91.5)
16.9

Earnings per
share

Dec. 31, 2022
Dec. 31, 2021

Recurring income

Diluted earnings per
share
yen

yen

8.71

8.68
102.33102.57

(2) Non-consolidated financial position
Total assets

Net assets

Net assets (excl. noncontrolling interests) tototal assets

Net assets(excl. non-controllinginterests) per share

As ofmillion yen

million yen%

yen

Dec. 31, 2022
Dec. 31, 2021

502,941

344,40268.5

1,920.38

64.7

1,961.66

543,410
351,812Reference: Net assets (excl. non-controlling interests)
Fiscal Year 2022: 344,402 million yen
Fiscal Year 2021: 351,812 million yen* 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 to management at the time of issuance of thisreport, and the actual results may be changed due to a number of inherent uncertainties in the forecast.
Furthermore, please refer to “1. Overview of Operating Results, etc. (1) Analysis of Operating Results(Outlook for next fiscal year)” on page 5 for matters relating to performance forecasts.

Table of contentsPage

1. Overview of Operating Results, etc. …………………………………………………………………………………………

2(1) Analysis of Operating Results ……………………………………………………………………………………………

2(2) Analysis of Financial Position ……………………………………………………………………………………………

6(3) Basic Policies for Income Distribution and Dividends for FY2022 and FY2023……………………………………….

6

2. Basic Concept Concerning the Selection of Accounting Standards………………………………………………………….

7

3. Consolidated Financial Statements and Notes ……………………………………………………………………………….

8(1) Consolidated Statement of Financial Position…………………………………………………………………………….

8(2) Consolidated Statements of Income and Comprehensive Income ……………………………………………………….

10(Consolidated Statements of Income) ……………………………………………………………………………………

10(Consolidated Statements of Comprehensive Income) ………………………………………………………………….

11(3) Consolidated Statements of Changes in Equity …………………………………………………………………………

12(4) Consolidated Statements of Cash Flows …………………………………………………………………………………

14(5) Notes to Consolidated Financial Statements ……………………………………………………………………………

16(Notes Relating to Going Concern Assumption) ………………………………………………………………………

16(Changes in Accounting Policies) ………………………………………………………………………………………

16(Segment Information, etc.) ……………………………………………………………………………………………

16(Stock Per Share Information) ……………………………………………………………………………………….…

16(Significant Subsequent Events) …………………………………………………………………………………………

16

4. Others …………………………………………………………………………………………………………………………

17(1) Changes in Key Consolidated Management Indicators ………………………………………………………………

17(2) Officer Change (as of March 28, 2023) ………………………………………………………………………………

18

1

1. Overview of Operating Results, etc.
(1) Analysis of Operating Results(Overview of Full-year 2022 Results)
Coca-Cola Bottlers Japan Holdings Inc. (“CCBJH,” the “Company,” or “we”) have announced full-year results for the fiscal
year (January 1, 2022, to December 31, 2022).
In this fiscal year, the total domestic nonalcoholic ready-to-drink (NARTD) beverage industry volume is estimated to havegrown by 4% versus the previous fiscal year. This was due to demand being supported by recovery in the number of people
returning to the streets of Japan with the easing of COVID restrictions, revitalization of economic activity, and a record-breaking
heat wave contributing to volume growth, while the price revisions implemented by various beverage companies impacted
demand. On the other hand, the business environment remained uncertain and challenging as the severe competitive environment
continued and rising commodity and utility prices, as well as the rapid acceleration of the yen's depreciation impacted businessand consumer behaviors.
Under these circumstances, we have positioned 2022 as "The year of building a foundation for sustainable growth" and havebeen working to build a foundation for steady and sustainable growth as well as to promote further transformation. In commercial
activities, we worked to grow sales volume and sales revenue by introducing new products, responding to diversifying consumer
needs, and executing effective campaigns to capture opportunities for the recovery in traffic. In addition, to respond to current
cost pressures and to strengthen the earnings foundation for the future, we revised prices for our products ahead of the industry
despite the continued severe competitive environment. For the price revisions, we have carefully negotiated with customers andmade efforts to reflect revised prices as soon as possible, particularly for vending machines. In manufacturing and supply chain
fields, while faced with rising commodity and utility prices, we have been building a supply chain that can flexibly respond tosudden changes in demand by revamping our Sales and Operations Planning process and leveraging our Saitama and Akashi
Mega Distribution Centers, two of the largest automated distribution centers in Japan by storage and shipping capacities.
Although we experienced a surge in demand during the summer-the period of peak demand- coinciding with a recovery in traffic
and the heat wave, our efforts resulted in a stable supply of products. We also worked to reduce costs through efficient use of
manufacturing facilities and reviewing our distribution network.
We are realizing ESG targets that are based on creating shared value with society. To achieve our 2030 Package Vision, whichaims for a World Without Waste, we have been working on the design aspects of product packaging, such as expanding the useof 100% recycled PET bottles and establishing a recycling scheme in collaboration with local governments and partner companies
for the steady collection of high-quality packages. In addition, for further recycling of resources, we have established the CAN
to CAN horizontal recycling system of aluminum cans and started manufacturing and selling products produced from recycledmaterials. To reduce greenhouse gas (GHG) emissions, we have enhanced our climate-related financial disclosure and promoted
activities based on the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD). In other efforts tocontribute to local communities through business, we have implemented water source conservation activities, donated products
to food banks, and placed vending machines to support local activities. As part of our efforts to promote diversity, we haveworked to raise understanding of LGBTQ through internal and external awareness-raising opportunities to create a better working
environment. Such ESG initiatives have been positively appraised, and for the fifth consecutive year we have been selected as acomponent of the DJSI Asia Pacific, a leading global ESG investment 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
Friday, February 10, 2023 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.

2

Summary of Consolidated Financial Results(In million JPY except sales volume)
Change(%)

Full-year (January to December)

2021

2022

Revenue

785,837

807,430

2.7

467

480

3

Gross Profit

350,505

351,755

0.4

Selling, General & Administrative Expenses

363,750

365,295

0.4

Other income (Recurring)

887

974

9.8

Other expenses (Recurring)

2,142

1,924

(10.2)

Investment gain (loss) on equity method

(162)

46

－

(14,662)(14,443)－

Other income (Non-recurring)

9,251

8,338

(9.9)

Other expenses (Non-recurring)

15,5605,408(65.2)

Operating Loss

(20,971)(11,513)－

Net Loss Attributable to Owners of Parent(2,503)(8,070)－Q4 (October to December)

2021

2022

Revenue

196,306

195,109

(0.6)

116

113

(3)

Gross Profit

89,68284,439(5.8)

Selling, General & Administrative Expenses

89,882

86,973(3.2)

Other income (Recurring)

237

280

18.2

Other expenses (Recurring)

635

982

54.7

Investment loss on equity method

(41)

(11)

－

Business Loss

(639)

(3,247)－

Other income (Non-recurring)

3,667

900

(75.4)

Other expenses (Non-recurring)

4,021

2,114

(47.4)

Operating Loss

(993)

(4,460)－

Net Loss Attributable to Owners of Parent(968)(2,876)－

Sales volume (million cases)

Business Income (Loss)

Sales volume (million cases)

Change(%)* 1. “Business Income (loss)” is a measure of our underlying or recurring business performance. Business Income (loss) deducts cost of goods
and selling, general and administrative expenses from revenue, and includes other income and expenses which we believe are recurring in
nature.
2. Net Income (Loss) Attributable to Owners of Parent for 2021 is a total of continuing operation and discontinued operation results.
3. Sales volume in 2021 is revised retroactively due to changes of counting segmentation and scope in some products.

Consolidated revenue was 807,430 million yen (2.7% increase of 21,594 million yen from the same period of the previousyear). Although there was negative impact on sales volume following the price revisions, sales volume increased by 3% versus
the previous year. This was due to the introduction of new products and channel-specific efforts to meet diversifying consumer
needs, which supported capturing the opportunity of traffic recovery and increased demand due to the heat wave. Volume growthin the profitable vending channel and the improvement in wholesale revenue per case through price revisions contributed to theincrease in revenue. In the fourth quarter (October 1, 2022 to December 31, 2022), with the price revisions implemented in
October for small packages, wholesale revenue per case increased in all channels.

3

Consolidated business loss was 14,443 million yen (14,662 million yen loss in prior year period) and improved versus theprevious year. We have achieved profit improvement of about 20 billion yen in areas that are under our control, such as volume
growth, price revisions, and cost savings through improved manufacturing, logistics efficiency and acceleration oftransformation. However, external factors such as commodities, yen depreciation and higher utility costs had significant impact
on our business.
Consolidated operating loss was 11,513 million yen (20,971 million yen loss in prior year period). In addition to businessincome improved versus the previous year, operating income improved versus the previous year due to gains on sales of fixed
assets and a decrease in temporary paid leave expenses. Other income (non-recurring) for the fiscal year includes gains on salesof property, plant, and equipment of 4,561 million yen and 3,329 million yen in government subsidies for employment
adjustment. Other expenses (non-recurring) includes 2,168 million yen in temporary paid leave expenses, 1,298 million fortransformation related expense, 1,104 million yen in special retirement allowances related to the voluntary employee retirement
programs, and 812 million yen in losses on sales and disposals of property, plant, and equipment.
Net income attributable to owners of the parent was a loss of 8,070 million yen (2,503 million yen loss in prior year period).
While operating income improved from the previous period, income attributable to owners of the parent company got worse dueto the absence of a gain on transfer of shares of subsidiary Q'sai Co., Ltd. Recorded in discontinued operations in the previous
year being recorded in discontinued operations.

Sales volume trends (% change from previous year)
Full-year sales volume increased by 3% with the recovery in traffic and increased demand from the heat wave, despite theprice revisions having a negative volume impact. By channel, supermarkets, drugstores, and discounters were impacted by theprice revisions and from the severe competition, despite the execution of campaigns to capture the traffic recovery and active
introduction of new products. As a result, sales volume at supermarkets declined by 5%, while sales volume at drugstores anddiscounters increased by 1%, partly due to an easing trend from the impact of volume declines of large PET following the pricerevisions. Vending volume increased by 3%, despite the volume impact from the price revisions in October for small packages,
the market share base we have built and the implementation of campaigns through the Coke ON smartphone app contributed tocapturing the traffic recovery and demand from the heat wave. In addition, vending machine placement activities -one of our
key initiatives- progressed at a faster pace than planned throughout the year. The number of operating vending machines
increased by more than 10,000 units from last year, contributing to growth in both volume and value share. CVS sales decreased
by 1% due to the continued severe competitive environment and with volume being impacted by the price revisions, despite
efforts to strengthen activities to acquire sales space for core and new products, and efforts to implement campaigns incollaboration with customers. In retail & food, volume increased by 18% with the recovery in customer traffic returning to dineat restaurants. In online, volume grew by 23%, supported by growth in all categories, achieved even during the period of traffic
recovery by capturing demand for at-home consumption with the high convenience it offers. Offerings of label-less products,
tie-up promotions with major online customers, and the acquisition of subscription type consumers supported the growth.
By beverage category performance, sparkling sales volume grew by 1%, despite the volume impact from the price revisions,volume growth centered around Coca-Cola at vending and restaurants with the recovery in traffic, and contributions from new
products such as Fanta Premier Lemon. Sales volume of tea products decreased by 1% due to the price revision impact, despite
the tailwind from the traffic recovery and heat wave, contributions from Yakan no Mugicha from Hajime which continues toenjoy steady sales growth since its launch in the previous year and new products such as Ayataka Cafe Hojicha Latte. Coffee
sales volume increased by 2%, supported by new products such as Georgia Black, strengthening of the Costa Coffee lineup, andgrowth in bottle can packages in the immediate consumption channels. Sports grew by 7%, with restrictions being lifted on
events and other activities, also benefiting from the heat wave. Water sales volume grew by 8% with the traffic recovery and theheat wave, the launch of the new I LOHAS Natural Water with the renewed bottle design for the first time in 13 years, andcapturing at-home consumption demand.
In the alcohol category, renewals for the Lemon-dou brand and expanding the product offerings, launch of the non-alcoholic
beverage Yowanai Lemon-dou, and introduction of the Lemon-dou Uchiwari Lemon to capture new demand contributed to sales
volume. However, the cycling impact of new products launches in the previous year and of the at home-drinking demand thatgrew with COVID had an impact and volume decreased by 15%.

4

(Outlook for next fiscal year)
Regarding the outlook for the overall domestic NARTD beverage market, as the transition to a new phase of post-COVID
progresses, although the increase in traffic and revitalization economic activity will lead to an increase in demand for beverages,
the market trend is expected to be impacted by decline in consumer sentiment due to continuing impact of domestic inflation,
beverage price revisions and the cycling of the heat wave in the previous year is expected to have an impact. Additionally,
continued volatility in the commodity, forex, and utility is expected, which will make it a challenging environment for
profitability.
Under these circumstances, in 2023, we will prioritize improving profitability. As part of this, in order to respond to cost
increases caused by external factors and to strengthen our earnings foundation base, we will revise the prices of some products,
such as can and large PET, effective from May 1 shipment. In addition, we will work to thoroughly implement a sales strategy
that emphasizes profitability and investment efficiency and promote further transformation to realize stable and low-cost
operations.
In the commercial area, in order to steadily recover sales revenue and establish a profit structure to achieve sustainable growth,
we will work top priority to improving the price per case through an appropriate pricing strategy centered on the implementationof price revisions. Regarding sales volume, although we expect the negative impact on sales volume by price revision, we will
implement strategies focusing on core categories, expand our product portfolio based on innovation, and implement marketinginvestments that emphasize effectiveness and efficiency. Regarding our important vending channel, we will work by developing
new locations that emphasize investment efficiency and by utilizing digital platforms such as the smartphone app “Coke ON”.
In the over the counter channel, we will actively develop new products, expand sales floors, implement appropriate pricing andmarketing strategies, and strengthen customer engagement. Furthermore, we will continue to strengthen our partnership with
Coca-Cola (Japan) Co., Ltd.
In the supply chain area, we will work to build a supply chain network that realizes high quality, low cost, and stable supply. In
addition to focusing on stable operation of the S&OP process that was revamped in 2022, we will further strengthen thecooperation between the commercial (planning / sales) and the supply chain to work on the timely and low-cost supply of
products in line with changes in the environment. In terms of manufacturing, we will work to improve manufacturing capacity
by operating a new manufacturing line at the Ebina Plant, promote efficiency in manufacturing processes, and build a flexible
manufacturing system. In term of logistics, we will work to optimize the logistics network through the stable operation at "Akashi
Mega DC" which started operation in 2022, consolidation of sales centers and the reduction and optimal distribution of productinventory. In 2023, procurement costs are expected to continue to increase significantly due to soaring prices of commodity andutility, fluctuations in exchange rates, we will strive to mitigate the impact of cost increases throughout the value chain byimplementing all improvement activities centered on stable and low-cost operations.
As the foundation of the entire business, we aim to further accelerate the standardization of business processes and the efficiency
improvement by digital transformation (DX), and to establish a robust cost structure that can counteract the changing
environment with agility. We will also focus on improving our balance sheet from the perspective of appropriate management of
capital. Additionally, we will implement a people strategy based on our company’s “Mission, Vision and Values”, we willcontinue to promote activities to realize ESG targets based on creating shared value, with societysuch as initiatives aiming for azero-waste society, reducing greenhouse gas (GHG) emissions, and activities that contribute to local communities throughbusiness.
As a result, we expect consolidated revenue in 2023 will be 847,100 million yen, an increase of 4.9% versus 2022 due to pricerevisions, although sales volume decline of 2% versus 2022. Consolidated business loss is expected to be 5,000 million yen (In2022, Business loss was 14,443 million yen). Consolidated operating loss is expected to be 5,300 million yen (In 2022, Operating
loss was 11,513 million yen). Net loss attributable to the owners of the parent is expected to be 4,300 million yen (In 2022, Netloss attributable to the owners of the parent was 8,070 million yen).

5(2) Analysis of Financial Position
Assets at the end of the year were 826,737million yen, a decrease of 40,375 million yen to compared with the end of the priorfiscal year-end period. This is mainly due to a decrease in "cash and cash equivalents" resulting from redemption of bonds, anda decrease in "property, plant and equipment" as a result of balance sheet improvement through consolidation of sales centers,
while the Akashi Mega DC was newly established.
Liabilities at the end of the year were 350,378 million yen which decreased by 24,282 million yen from the end of the prioryear period. This is mainly due to a decrease in “Bonds and debts” under current liabilities upon the redemption of bonds.
Equity at the end of the year was 476,358 million yen, a decrease of 16,093 million yen from the end of the prior year period.
This is mainly due to a decrease in “Retained earnings” as a result of dividend payments.
The statement of cash flow conditions for the current fiscal year is as follows:<The Cash Flows from Operation Activities>
Net cash generated from operating activities was 41,717 million yen (35,982 million net cash generated in the previous year
period). This results mainly from the 12,491 million yen net loss before tax, “Depreciation and amortization”, “Increase in otherliabilities ”, etc. alongside “Gain on sale of property, plant and equipment” and “Increase in other liabilities” etc.
<The Cash Flows from Investing Activities>
Net cash used in from investing activities was 23,090 million yen (15,271 million yen outflow in the previous year period),This results mainly from “Acquisitions of property, plant and equipment and intangible assets” etc., as a result of strategic,
investments that will serve as a foundation for growth, alongside “Proceeds from sales of property, plant and equipment andintangible assets” as part of the efforts to optimize its balance sheet.
<The Cash Flows from Financing Activities>
Net cash used in financing activities was 46,050 million yen (67,134 million yen net cash used in the previous year period),
driven by “Payments for bond redemption” and “Dividends paid”.
As a result of these activities, cash, and cash equivalents at the end of the year was 84,074 million yen, a decrease of 26,422
million yen from the end of the prior fiscal year-end.
(3) Basic Policies for Income Distribution and Dividends for FY2022 and FY2023
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.
We paid an interim dividend of 25 yen per share and plan to pay a year-end dividend of 25 yen per share, 2022, for a total
annual dividend of 50 yen per share to pay. In the fiscal year ending December 31, 2022, despite the fact that the businessenvironment remained as challenging as the previous fiscal year due to the significant impact of rising commodity and utility
prices on business activities.
For the fiscal year ending December 31, 2023, we expect rising commodity and utility prices to continue to have a significant
impact on our business. We seek to maintain its basic policy on stable dividend payment by setting the dividend forecast ofannual total of 50 yen per share paid as interim dividend and another 25 yen per share as year-end dividend, which is sameamount as in the fiscal year ending December 31, 2022
On future shareholder returns, we stay committed by comprehensively reviewing its business performance trends and financial
conditions, and examining the best approaches that could be taken by including the share repurchase program.

6

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 the international
comparability of financial statements and contributing to the improved convenience for shareholders and investors of the Company.

73. Consolidated Financial Statements and Notes(1) Consolidated Statement of Financial Position
As ofDecember 31, 2021
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

8(Millions of yen)
As ofDecember 31, 2022

110,497
105,320
67,583
1,320
16,27584,074
103,346
71,051
542
13,108300,995

272,122434,994
25,144
66,219425,009
21,841
65,865281

322

19,511
13,960
6,006
566,116

15,88820,581
5,110
554,615

867,111826,737

As ofDecember 31, 2021

(Millions of yen)
As ofDecember 31, 2022

Liabilities and equity
Liabilities
Current liabilities:
103,260
30,990
4,050
－
1,139
9
16,085
155,535

108,254
1,000
5,122
654
1,272
－
20,339136,641

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

156,622
22,462－
17,605
2,137
17,3792,920

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

Total non-current liabilities
Total liabilities

219,125
374,660

213,737
350,378

15,232450,832
109,273(85,661)2,644
492,320
131

15,232451,264
94,209(85,667)
1,177
476,216142

492,451

476,358

867,111826,737

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

Equity:Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income(loss)
Equity attributable to owners of parent
Non-controlling interests
Total equity
Total liabilities and equity9(2) Consolidated Statements of Income and Comprehensive Income(Consolidated Statements of Income)For the year ended
December 31, 2021
Continuing operations
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 benefit
Net income(loss) for the year from continuing operations
Discontinued operations
Net income(loss) for the year from discontinued
operations
Net income (loss) for the year

(Millions of yen)
For the year ended
December 31, 2022

785,837
435,332
350,505
363,750
10,13817,702(162)(20,971)377
1,089(21,683)(6,653)(15,029)

807,430
455,675
351,755
365,295
9,312
7,332
46
(11,513)264
1,242(12,491)(4,432)(8,059)12,505－(2,525)(8,059)

Income(Loss) from continuing operations attributable toowners of parent(15,008)(8,070)

Income(loss) from discontinued operations attributable toowners of parent

12,505－

Non-controlling interests

(21)

11

Earnings (Loss) per share (yen)Continuing operations
Discontinued operations
Earnings (Loss) per share(83.68)69.72(13.96)(45.00)－(45.00)Net income (loss) for the year attributable to
Owners of the parent

10

(Consolidated Statements of Comprehensive Income)Net income (loss) for the period
Other comprehensive income(loss).
Items that will not be reclassified subsequently toincome or loss:
Remeasurements of defined benefit plans
Share of other comprehensive income(loss) ofinvestments accounted for using equity method
Net change in financial assets measured at fair value
through other comprehensive income
Subtotal
Items that may be reclassified subsequently toincome(loss):
Cash flow hedges

For the year ended
December 31, 2021
(2,525)(Millions of yen)
For the year ended
December 31, 2022
(8,059)

(395)

1,523

(12)

－

854

292

448

1,815

2,836

1,250

2,836
3,283

1,250
3,065

Total comprehensive income (loss) for the period

759(4,994)Comprehensive income (loss) attributable to:
Owners of parent
Non-controlling interests

780
(21)

(5,005)
11

Subtotal
Total other comprehensive income (loss) for the period11(3) Consolidated Statements of Changes in Equity
For the year ended at December 31, 2021
(Millions of yen)
Equity attributable to owners of the parent company

Capitalstock

Capitalsurplus

Accumulated otherAccumulatedcomprehensive
otherincome of disposal
Retained Treasury comprehensive groups classified as
earnings sharesincomefor sale

15,232450,605

120,473(85,654)

1,095

－

－

(2,503)－－－(2,503)(21)(2,525)

－

－

－

－

3,283

－

3,283

－

3,283

－

－

(2,503)

－

3,283

－

780

(21)

759

Dividends of surplus－－(8,967)－－－(8,967)－(8,967)Purchase of treasury stock

－

－

－

(8)

－

－

(8)

－

(8)

Disposal of treasury stock

－

(0)

－

1

－

－

0

－

0

Transactions of sharebased payment

－

227

－

－

－

－

227

－

227

－

－

378

－

(378)

－

－

－

－

－

－

－

－

(1,356)－(1,356)－(1,356)

－

-

(107)

－

－

107

－

(297)

(297)

－

227

(8,697)(7)(1,734)

107(10,103)(297)(10,400)

15,232450,832

109,273(85,661)2,644－

492,320131

492,451

Balance as of January 1, 2021
Comprehensive income(loss)
for the period
Net income(loss) for theperiodOther comprehensive
income (loss)
Total comprehensive income(loss) for the period
Transactions with owners,
etc.

Reclassification fromaccumulated othercomprehensive
income(loss) to retained
earnings
Reclassification fromaccumulated othercomprehensive
income(loss) to nonfinancial assets
Changes due to loss ofcontrol
Total transactions withowners, etc.
Balance as of December 31,
2021

12

(107)

Total

Noncontrollinginterests

501,643450

502,093

Total

For the year ended at December 31, 2022
(Millions of yen)
Equity attributable to owners of the parent company

Capitalstock

CapitalsurplusRetainedearnings

Treasuryshares

Accumulated
othercomprehensive
income15,232450,832

109,273(85,661)2,644

492,320131

492,451－－(8,070)－－(8,070)11(8,059)

－

－

－

－

3,065

3,065

－

3,065

－

－

(8,070)－

3,065(5,005)

11(4,994)

Dividends of surplus－－(8,967)－－(8,967)－(8,967)Purchase of treasury stock

－

－

－

(6)

－

(6)

－

(6)

Disposal of treasury stock

－

(0)

－

0

－

0

－

0

Transactions of share-based
payment

－

432

－

－

－

432

－

432

－

－

1,974

－

(1,974)

－

－

－

－

－

－

－

(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

Balance as of January 1, 2022
Comprehensive income(loss)
for the year
Net income (loss) for theperiodOther comprehensive
income (loss)
Total comprehensive income(loss) for the period
Transactions with owners, etc.

Reclassification fromaccumulated othercomprehensive
income(loss) to retained
earnings
Reclassification fromaccumulated othercomprehensive
income(loss) to nonfinancial assets
Total transactions withowners, etc.
Balance as of December 31,
2022

13

Noncontrollinginterests

Total

Total

(4) Consolidated Statements of Cash Flows(Millions of yen)
For the year ended
December 31, 2021

For the year ended
December 31, 2022

Cash flows from operating activities
Income (loss) before income taxes from continuing
operations(21,683)(12,491)

Income for the year before income taxes from discontinued
operations

12,841－

57,160744(12,841)
(708)
235
(261)
928
162
(1,519)45,786
20
－
－
(655)
(237)
750
(46)
(4,587)

1,604

2,111

(9,320)
597
3,568
9,426
2,126
749
(74)

2,603
(3,450)
2,611
1,379
2,541
4,910
2,521

43,7351
259(844)(10,122)
2,953
35,982

43,7670237(654)(4,820)4,187(39,263)(32,674)

4,377

7,127

7,400

－

(53)
7,614
34,490705
15,271

(25)
2,432
－
51
(23,090)

Adjustments for:
Depreciation and amortization
Impairment loss
Gain on sales of subsidiaries' stock
Gain on sales of stocks of subsidiaries and affiliates
Change in allowance for doubtful accounts
Interest and dividends income
Interest expenses
Investment (gain) loss on equity method
Gain on sale of property, plant and equipment
Loss on disposal and sale of property, plant and equipment
and intangible assets
Decrease (increase) in trade and other receivables
Decrease (increase) in inventories
Decrease (increase) in other assets
Increase (decrease) in trade and other payables
Increase (decrease) in net defined benefit liabilities
Increase (decrease) in other liabilities
Other operating activities
SubtotalInterest received
Dividends received
Interest paid
Income taxes paid
Income taxes refund
Net cash generated from operating activities
Cash flows from investing activities
Acquisitions of property, plant and equipment and intangible
assetsProceeds from sales of property, plant and equipment andintangible assets
Proceeds from collection of loans receivable resulting fromsales of stock in subsidiaries
Purchases of other financial assets
Proceeds from sale of other financial assets
Proceeds from sale of stock of subsidiaries
Other investing activities
Net cash generated from (used in) investing activities

14

42,717

For the year ended
December 31, 2021
Cash flows from financing activities
Increase (decrease) in short-term loans payable
Repayments of long-term loans payable
Bond redemption
Dividends paid
Proceeds from disposal of treasury stock
Purchases of treasury stock
Repayments of lease liabilities
Net cash used in financing activities
Net increase (decrease) in cash and cash equivalents
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, 2022

(50,000)(1,072)－(8,967)0(8)(7,088)(38)(1,065)(30,000)(8,967)0(6)(5,974)(67,134)(15,881)
126,378
110,497(46,050)(26,422)
110,497
84,074

(5) Notes to Consolidated Financial Statements(Notes Relating to Going Concern Assumption)
Not applicable.
(Changes in Accounting Estimates)(The Change in useful life of Property, Plant and Equipment)
The group depreciated its sales equipment mainly over a useful life period of 9 years. However, as consumer spending patterns
have been impacted by the pandemic, we have decided to further strengthen the margin & ROI-focus commercial strategy from 2022
and determined the policy to utilize our sales equipment on a longer-term basis and more efficiently than in the past. Also, these are
to be reflected in our new mid-term business plan, which is under development. As a result, the main useful life of sales equipment
has been revised to 11 years and it was applied prospectively from this first quarter.
As a result of this change, operating loss, and loss before tax for the year ended December 31, 2022 decreased by 8,333million
yen, respectively, compared with those based on the previous useful life.

(Segment Information, etc.)
As the Group operates a single segment of the beverage business, the reportable segment explanation will be omitted.
(Stock per share information)
The calculation of basic earnings per share is based on the net income for the year attributable to owners of the Company andthe weighted-average number of ordinary shares outstanding during the years.
The basis for calculating basic and diluted earnings per share is as follows.
For the year ended
December 31, 2021

For the year ended
December 31, 2022

Loss from continuing operations attributable toowners of parent(15,008)(8,070)

Profit from discontinued operations attributable toowners of parent

12,505－Weighted-average shares
outstanding (in thousands)

179,346

179,342(83.68)69.72(13.96)(45.00)－(45.00)ofordinary

share

Earnings (Loss) per share (yen)Continuing operations
Discontinued operations
Loss per share (yen)*Note: In the previous fiscal year and the current fiscal year, 415 thousand and 751 thousand shares of stock-based compensation
were accounted for antidilutive, "Diluted earnings per share" is not shown, respectively.
(Significant Subsequent Events)
Not applicable164. Others(1) Changes in Key Consolidated Management Indicators
IFRS

Revenues
Revenues growth rate
Operating income
Operating margin
Recurring income
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 attributable to owners(millionyen)(%)(millionyen)(%)(million

FY2019FY2020

FY2021

FY2022

927,307890,009785,837

785,837

807,430

10.8

(4.0)

(0.8)

(0.8)

2.7

14,682(58,904)(20,971)(20,971)(11,513)

1.6

(6.6)

(2.7)

(2.7)

(1.4)

－

－

－

－

－

－

－

－

－

－

14,767(58,922)(21,683)(21,683)(12,491)

1.6

(6.6)

(2.8)

(2.8)

(1.5)

10,117(57,952)(2,503)(2,503)(8,070)

1.1

(6.5)

(0.3)

(0.3)

(1.0)

3,197

(52,108)

759

759(4,994)yen)(%)(millionyen)(%)(millionof the company

yen)

Net revenues attributable to ownersof the company(%)

Total comprehensive income

FY2018(millionyen)

Earnings per share

(yen)

52.68

(322.22)(13.96)(13.96)(45.00)

Diluted earnings per share

(yen)

－

－

－

－

－

ROE

(%)

1.6

(10.7)

(0.9)

(0.5)

(1.7)

ROA

(%)

1.6

(6.4)

(1.3)

(2.4)

(1.5)

877,472

952,444939,603

867,111826,737

580,906

506,491

492,451

492,451

476,358

Total assets
Total equity(millionyen)(millionyen)

Ratio of equity attributable toparent owners

(%)

66.2

53.1

56.8

56.8

57.6

Equity attributable to owners of theparent per share(yen)

3,163.63

2821.27

2,745.12

2,745.12

2,655.38(times)

62.4

(8.7)

785,837(94.6)(31.9)

Ratio of equity attributable toparent owners*1. As for the amount is rounded off. In addition, the ratio is rounded off.
*2. In the fiscal year ending 31 December 2020, the Healthcare and Skincare business has been classified as a discontinued
operation as a result of the decision to sell all shares in Q'sai held by the Company. As a result, revenue, Business Income andoperating loss for the previous financial year have been reclassified to the amounts for continuing operations excluding
discontinued operations

17

(2) Officer Change (as of March 28, 2023)
1. New Director (excluding Director serving on the Audit & Supervisory Committee) Candidate
Name

Current
Director serving on the Audit & Supervisory Committee,

1

Celso Guiotoko

Coca-Cola Bottlers Japan Holdings Inc.
Director and Global Chief Digital Officer, Nishimoto Co., Ltd.

2. New Directors serving on the Audit & Supervisory Committee Candidates
Name

Current
Director (excluding Director serving on the Audit & Supervisory Committee)

1

Hiroshi Yoshioka

2

Sanket Ray

President of India and Southwest Asia, The Coca-Cola Company

3

Stacy Apter

Vice President & treasurer, The Coca-Cola Company

Coca-Cola Bottlers Japan Holdings Inc.

3. Retiring Directors
Directors serving on the Audit & Supervisory Committee
Name

Current

1

Irial Finan

Director serving on the Audit & Supervisory Committee (Outside Director)

2

Vamsi Mohan Thati

Director serving on the Audit & Supervisory Committee (Outside Director)

4. Reference Information(Board Members)(1) Directors (excluding Directors serving on the Audit & Supervisory Committee)
Representative Director

Calin Dragan

Representative Director

Bjorn Ivar Ulgenes

Director

Hiroko Wada

(Outside Director)

Director

Hirokazu Yamura(Outside Director)

Director

Celso Guiotoko(Outside Director)(2) Directors serving on the Audit & Supervisory Committee
Director

Hiroshi Yoshioka(Outside Director)

Director

Nami Hamada(Outside Director)

Director

Sanket Ray(Outside Director)

Director

Stacy Apter(Outside Director)* The appointment will be formalized by resolutions at the 2022 Ordinary General Meeting of Shareholders and the Board of Directors
Meeting to be held on March 28, 2023.

End of document18