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November 9, 2016
Dear Sirs and Mesdames
Itoham Yonekyu Holdings Inc.
President and Representative Director: Isao Miyashita(Tokyo Stock Exchange Securities Code: 2296)
Inquiries: Akira Kotake
Manager Investor Relations Section
Tel: +81-3-5723-8619

Itoham Yonekyu Group Announces New Medium-term Management Plan

The group today announced its new medium-term management plan “Medium-term Management
Plan 2020” (hereafter “The Plan”) covering the five years from April 1, 2016.
The Plan places emphasis on growing product categories and sales channels (adhering to growingmarkets) while expanding current business. It also pursues the synergy effect, enhancescompetitiveness and reorganizes functions.
For the corporate image to push across,the group has set the following groupprinciple. ”Contribute to the realization of sound and affluent society through business.” In the final
year of the Plan, the group shall attain net sales of 1 trillion yen, ordinary income of 30 billion yen
and realize the group’s vision.

1. Corporate Image TargetedGroup Principle
VisionContribute to the realization of sound and affluent society through business.
A leading food company that continuously evolves with its employees byembracing the spirit of fairness and the challenge to progressions.
・ Supply products and services of high value by pursuing safety, security
and quality

ActionGuidelines

・ Build and expand trust by making good on promises・ Capacity development through broad-minded communication andmutual understanding・ Honest and transparent actions with top priority on compliance・ Business actions with awareness to global environment12. Basic Strategies
Streamlining / Enhancement ofBusiness Scale Expansion

Competitiveness

Adhere to Growing Markets

Optimization of production

・ Target growing product categories andsales channels

Streamline and enhance competiveness in・ Expand overseas production and sales

procurement operations

Expand current businessStreamline and enhance competiveness in・ Increase share in ham/sausage

logistical operations

・ Increase domestic meat production
・ Reach actual demand throughReorganization of functions

personnel and innovation

3. Performance Targets

Net SalesYear Ending

Year Ending

March 2021 (plan)

March 2016 (actual)¥1,000.0 billion¥817.4 billion

Ordinary Income¥30.0 billion¥18.2 billion(Synergy Effect)¥5.0 billion

Ordinary Income Rate

3.0%

2.2%

(Operating Segment Information)
Year Ending

Year Ending

March 2021 (plan)

March 2016 (actual)

OperatingNet Sales
Processed Foods

IncomeNet Sales

OperatingIncome¥400.0 billion¥16.0 billion¥276.3 billion¥7.7 billion¥600.0 billion¥14.5 billion¥539.7 billion¥9.9 billion－¥-1.5 billion¥1.3 billion¥-0.2 billion¥1,000.0 billion¥29.0 billion¥817.4 billion¥17.3 billion

Division
Meat Division
Others/Adjustment
Consolidated*Actuals for year ending March 20016 are sum of Itoham Foods Inc. and Yonekyu Co.
Yonekyu results for year ending March 2016 comprise of 13 months.

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4. Investments and Returns to Shareholders
Capital Investments¥83 billion including business scale expansion mentioned in the plan
within the next 5 years

Returns toTargeted payout ratio of 30% with steady payout to the shareholders asShareholders

the base

The current plans, forecasts, strategies and other items contained in this presentation include our forecasts for businessresults. These forecasts are not historical facts; they are our judgment based on currently available information.
We do not guarantee these forecast business results, and they contain elements of risk and uncertainty.
The purpose of this presentation is not to solicit investment, but to give all investors a deeper understanding of Itoham
Yonekyu Holdings.
We have taken care over the content of this presentation, but we do not accept any responsibility for errors in thecontent, tampering by third parties, or errors that may occur during downloading.

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