Member of the Financial Accounting Standards Foundation

Consolidated Financial Summary for
the Second Quarter Ended June 30, 2012 (Japanese standard)
Listed company name: Coca-Cola West Company, Limited
Code number: 2579
Delegate: Title: Representative Director, President
Contact: Title: Manager of Finance
Expected date of quarterly report submission: August 10, 2012
Expected date of the dividend payments: September 3, 2012
FY 2012 2Q supplementary information: Yes
FY 2012 2Q financial presentation: Yes

August 2, 2012
Listed stock exchanges: Tokyo, Osaka and Fukuoka
URL: http://www.ccwest.co.jp/english
Name: Tamio Yoshimatsu
Name: Makoto Tsunomachi Phone: +81-92-641-8585(Fractions of one million yen are round off)

１．Consolidated financial results for the 2nd quarter 2012 (from January 1, 2012 to June 30, 2012)（Percentages indicate changes over the same period in the prior fiscal year）（1）Consolidated financial results
Net revenues

Operating income

million yen

Net income

Recurring income%

million yen%million yen%million yen%

2Q 2012
184,300 (3.0)
2Q 2011
189,933
12.3
Note: Comprehensive income
2Q 2012: 1,114 million yen ((31.1)%)

3,157
6,014(47.5)
369.8

3,086
6,016(48.7)
318.3

1,003
2,363(57.5)
191.5

Earnings per share
2Q 2012
2Q 2011

2Q 2011: 1,617 million yen (－%)
Diluted earnings
per shareyenyen

10.03
23.64

－－

（2）Consolidated financial position
Total assets

Net assets (excl.
minority interests) tototal assets

Net assets

million yen

million yen％

End of 2Q 2012
339,495
End of 2011
342,560
Reference: Net assets (excl. minority interests)
End of 2Q 2012: 226,494 million yen

226,845
227,86466.7
66.4

End of 2011: 227,491 million yen

２．Dividends（Record date）

End of 1Q

Dividends per share
End of 3Q

End of 2Q
yenyen－20.00
Full year 2011－
20.00
Full year 2012
Full year 2012
（Forecast）
Note: Revisions to the dividend forecasts most recently announced: None

Year-end

Annual

yen

yen

yen

－

21.00

41.00

－

21.00

41.00

３．Forecast of consolidated financial results 2012 (from January 1, 2012 to December 31, 2012)（Percentages indicate changes over the same period in the prior fiscal year）

Net revenues
million yen

Full year 2012

Operating income％

392,800 (1.7)

Recurring income

Earnings
per share

Net income％million yen％million yen％

Yen

14,700 (10.7)

14,800(7.8)

7,400

5.8

74.02

million yen

Note: Revisions to the forecasts of consolidated financial results most recently announced: Yes

Notes（1）Changes in significant subsidiaries during the current period(changes in specified subsidiaries resulting in change in scope of consolidation): None（ 2 ） Application of special accounting for preparing the quarterly consolidated financial : Nonestatement（3）Changes in accounting policies, changes in accounting estimates, and restatement of priorperiod financial statements after error corrections
1) Changes in accounting policies due to revisions to accounting standards and otherregulations
2) Changes other than those in 1) above
3) Changes in accounting estimates
4) Restatement of prior period financial statements after error corrections: None: None: None: None（4）Number of outstanding shares (common share)
1) Number of outstanding shares at the end of period (including treasury shares):
2Q 2012: 111,125,714 shares
FY 2011: 111,125,714 shares
2) Number of treasury shares at the end of period:
2Q 2012: 11,154,569 shares
FY 2011: 11,153,881 shares
3) Average number of outstanding shares during the period (six months)
2Q 2012: 99,971,496 shares
2Q 2011: 99,973,100 shares* Indication regarding execution of quarterly review procedures
At the time of disclosure of this quarterly financial summary, the review procedures for quarterly financial statementsin accordance with the Financial Instruments and Exchange Act are in progress.
* Explanation regarding appropriate use of the forecast, other special instructionsFigures in the above forecast are based on information available to management at the time of announcement.
Due to number of inherent uncertainties in the forecast, actual results may differ materially from the forecast.

Consolidated Results
For The Second-Quarter 2012
Appendix

1 . Situation of Consolidated Profit and Loss…

2 . Profits Change Factor (vs. plan)…

3 . Profits Change Factor (vs. last year)…

4 . Consolidated Balance Sheet and Change Factor…

5 . Investment, Depreciation, Cash Flow (consolidated)…

6 . Projections (consolidated)…

7 . Sales Information…

8 . Number of Vending Machines, Market Share…

9 . Home Market Share…

10 . Segment Information…

-Creating a happy tomorrow for everyone-Coca-Cola West Co., Ltd. (2579)
August 2, 2012

1123567
1010101. Situation of Consolidated Profit and Loss
(January 1, 2012 to June 30, 2012)(million yen, %)2Q 2011
actual

2Q 2012
plan*

actual189,933

183,100

Operating income

6,014

Recurring income
Net income

Net revenues

vs. last year

vs. planchange% changechange% change

184,300

1,200

0.7(5,633)

(3.0)

4,400

3,157

(1,242)(28.2)(2,857)(47.5)

6,016

4,300

3,086

(1,213)(28.2)(2,929)(48.7)

2,363

2,100

1,003

(1,096)(52.2)(1,360)(57.5)* The above plan is performance forecast announced as of February 7, 2012.

2. Profits Change Factor (vs. plan)(January 1, 2012 to June 30, 2012)(million yen)

2Q 2012changeMain factors for increase/decrease

plan*

actualNet revenues

183,100

184,300

1,200

Cost of goods sold

91,20093,5802,380

Gross profit

91,90090,720(1,179)

SG&A

Operating income

87,50087,562

62

4,400

3,157

(1,242)Non-operating income

700

449(250)

Non-operating expenses

800520(279)

4,300

3,086(1,213)

Extraordinary income－－－

Extraordinary losses

－

31

31

Income before income taxes
and minority interests

4,300

3,054

(1,245)

Income taxes

2,150

2,039(110)

Income before minority interests

2,150

1,015

(1,134)50

11(38)

2,100

1,003(1,096)

Recurring income

Minority interests
Net income

Impact on the soft drink business

253

Impact on the health food business

947

Impact on the soft drink business(1,920)

Impact on the health food business

1,211

Increase of business consignment expenses

114

Decrease in personnel cost(370)

Decrease of miscellaneous expenses(339)

Decrease of sales commission(306)

Decrease of repair expenses(263)

Decrease of depreciation(123)

Impact on the health food business

303* The above plan is based on performance forecast announced as of February 7, 2012.

Appendix-1

740

Increase of sales promotion & ad expenses

3. Profits Change Factor (vs. last year)(January 1, 2012 to June 30, 2012)(million yen)

2Q 2011

2Q 2012changeImpact on the soft drink business(6,322)

Impact on the health food business

1,494

Impact on the soft drink business(2,971)

Impact on the health food business

1,369

Increase of sales promotion & ad expenses

1,103

Increase of business consignment expenses

420

Increase of transportation expenses

358

Decrease in personnel cost(589)

Decrease of depreciation(409)

Decrease of supplies expenses(200)

Decrease of sales equipment cost

(116)

Impact on the health food business

683

Effect of applying assets retirement(1,197) obligation accounting standards(726)

Net revenues

189,933

184,300(5,633)

Cost of goods sold97,331

93,580(3,751)Gross profit

92,60290,720(1,881)

SG&A

Operating income

86,58787,562

975

6,014

3,157

(2,857)

Non-operating income

851

449

(401)

Non-operating expenses

849

520

(328)

6,016

3,086

(2,929)431－(431)

Recurring income
Extraordinary income
Extraordinary losses

1,228

31

Main factors for increase/decrease

Loss on disposal of inventories
Income before income taxes
and minority interests

5,219

3,054

(2,164)

Income taxes

2,835

2,039

(795)

Income before minority interests

2,384

1,015(1,368)

2011(8)2,363

1,003(1,360)

Minority interests
Net income

Appendix-2(483)4. Consolidated Balance Sheet and Change Factor(million yen)

Current assets
Cash and deposits
Trade notes andaccounts receivable
Marketable securities
Merchandise andfinished goods
Work in process
Raw materials and supplies
Other
Allowance for
doubtful accounts
Fixed assets
Property, plant andequipment
Buildings and structures, net
Machinery, equipment,
vehicles, net
Sales equipment, net
LandConstruction in progress
Other, net
Intangible assets
Goodwill
Other
Investments andother assetsInvestment securities
Advanced payments
for retirement expenses
Other
Allowance for
doubtful accounts
Total assets

Dec.31
2011

Jun.30
2012

119,197
25,208116,018
22,831(3,179)(2,376)25,33527,1801,844

26,73814,904

21,95428,857

6,903 Increase in inventories for demand season

464
1,450
18,550570
2,875
19,345

105
1,424
794

(504)

(546)

(41)

223,362

223,476113

130,218

133,548

3,330

33,52533,743217

20,497

20,297(200)

20,82052,774395
2,204
52,19847,474
4,723

22,44052,5982,563
1,905
50,96946,045
4,924

1,620
(175)
2,167
(299)
(1,229)(1,429)200

40,946

38,958(1,987)

24,58324,464

(119)

5,827

5,229

(598)

11,1099,827(1,282)

(574)

(561)

13

342,560

339,495(3,065)changeMain factors for increase/decrease(11,833) Negotiable deposit redemption

Total assets
Total
assets339,495
342,560

Current
assets116,018
119,197

Property,plant andequipment

133,548130,218
50,96952,198Intangible
assetsInvestments
and otherassets(million yen)Jun.302012
Dec.31
2011

38,95840,946050,000

100,000

150,000

200,000

Appendix-3

250,000

300,000

350,000

400,000(million yen)Dec.31
2011
Current liabilities
Trade notes andaccounts payable
Current portion of longterm loans payable
Accrued income taxes
Other accounts payable
Provision for sales
promotion expenses
Other
Long-term liabilities
Bonds payable
Long-term loans payable

Jun.302012changeMain factors for increase/decrease

46,57946,090(488)

18,657

19,268

611

2,542

2,517

(25)

2,750
15,656

1,044
16,538(1,705)
882

160

168

8

6,812
68,11650,00010,273

6,552
66,55950,0009,014(259)(1,557)－(1,258)

Allowance for employees'
retirement benefits

1,018

968

(49)

Liabilities for directors'
and corporate auidtors'
retirement benefits

117

128

10

6,707
114,695
229,195
15,231109,072
130,655(25,764)

6,447
112,649
228,098
15,231109,072
129,559(25,764)(259)(2,045)(1,096)－－(1,096)(0)(1,703)(1,603)99(1,703)(1,603)99373
227,864351
226,845(21)(1,019)342,560

339,495(3,065)

Other
Total liabilitiesShareholders' equity
Common stock
Capital surplus
Retained earnings
Treasury stock
Accumulated othercomprehensive income
Net unrealized gains (loss) onother marketable secrities

Minority interests
Net assets
Total liabilities andnet assets

Total liabilities and net assets

339,495
342,560

Total liabilities
and net assets

112,649
114,695

Totalliabilities

Jun.302012

46,09046,579Current
liabilities

Dec.31
2011

66,55968,116Long-term
liabilities

226,845
227,864

Net assets(million yen)

050,000

100,000

150,000

200,000

Appendix-4

250,000

300,000

350,000

400,000

5. Investment, Depreciation, Cash Flow (consolidated)(January 1, 2012 to June 30, 2012)(1) Investment, Depreciation(million yen)

2Q 2011

Investment

Land
Buildings
Machinery & Equipment
Sales equipment
OtherTotal
Depreciation

2Q 2012
20
1,957
2,085
5,944
4,129
14,137
10,073

－
1,345
2,441
5,816
2,662
12,265
10,383(2) Cash Flow(million yen)

2Q 2011
Cash flow fromoperating activities
Cash flow frominvesting activities
Cash flow fromfinancing activities
Cash and cash equivalents
at end of 2Q

2Q 2012

16,0171,228(7,384)(815)(4,790)(3,710)41,276

31,267

Appendix-5

6. Projections (consolidated)(January 1, 2012 to December 31, 2012)(1)Earnings(million yen, %)2011
actualNet revenues
Operating income
Recurring income
Net income

2012
plan

399,717
16,46916,044
6,997

392,800
14,70014,8007,400(2)Investment, Depreciation(million yen)2011
actualInvestment

Land
Buildings
Machinery & Equipment
Sales equipment
Other
Total
Depreciation－1,811
5,571
9,518
4,299
21,201
21,371

Appendix-6

2012
plan20
2,033
8,435
9,889
3,787
24,16621,296

change(6,917)(1,769)(1,244)402% change(1.7)(10.7)(7.8)
5.8

7. Sales information(January 1, 2012 to June 30, 2012)<Sales volume by brand>(thousand cases, %)2Q 2011
6,423
3,000
3,746
19,373
5,485
8,281
3,135
3,071
33,26285,776

Core 8

Coca-Cola
Coca-Cola Zero
Fanta
Georgia
Sokenbicha
Aquarius
Ayataka
I LOHAS
OtherTotal

2Q 2012% change

5,965
2,665
3,286
19,497
4,612
7,202
4,391
3,623
34,884
86,124(7.1)(11.2)(12.3)
0.6(15.9)(13.0)
40.018.0
4.90.4<Composition of brand>
100%

Other

80%

38.8%

40.5%

60%

3.6%
3.6%

4.2%

I LOHAS

5.1%

Ayataka

8.4%

Aquarius

5.4%

Sokenbicha

22.6%

Georgia

3.8%
3.1%

Fanta

3.5%
7.5%

6.9%

2Q 2011

2Q 2012

9.6%

40%

6.4%

22.6%
20%
4.4%

0%

Appendix-7

Coca-Cola Zero
Coca-Cola

<Sales volume by channel>(thousand cases, %)2Q 2011
Vending
Supermarket
CVS
RetailFood service
Other

2Q 201225,92521,445
9,362
6,015
8,788
14,24285,776*1*2*3*4*5

Total% change

24,834
22,380
10,152
5,716
9,130
13,911
86,124(4.2)
4.4
8.4(5.0)
3.9(2.3)
0.4*1 Vending : Retail sales business to distribute products through vending machine to consumers*2 Supermarket : Wholesale business for supermarket, drug store, discount store, home center chains*3 CVS : Wholesale business for convenience store chains*4 Retail : Wholesale business for grocery stores, liquor shops and other over-the-counter outlets*5 Food service : Syrup sale business for fast food restaurants, movie theaters, sports arena,'family restaurants,' and theme parks<Composition of channel>
100%

80%

60%

40%

16.6%

16.2%

Other

10.3%

10.6%

Food service

7.0%

6.6%

Retail

10.9%

11.8%

CVS

25.0%

26.0%

Supermarket

30.2%

28.8%

Vending

2Q 2011

2Q 201220%

0%

Appendix-8

<Sales volume by package>(thousand cases, %)2Q 2011
Small-sized (less than 1,000ml)
Medium-sized (less than 1,500ml)
Large-sized (1,500ml or more)
Subtotal

PETCanOther
Syrup, powder
Total

2Q 201218,125455
14,96033,541
26,997
5,721
19,51885,776% change

19,862496
15,80636,16325,784
5,629
18,54886,124

9.6
8.9
5.7
7.8
(4.5)
(1.6)
(5.0)
0.4

Notes: Changing quantity equivalent in some products, we adjust sales volume as far as 2011.

<Composition of package>
100%

22.8%

21.5%

Syrup, powder

6.5%

Other

29.9%

Can

18.4%

Large PET

80%
6.7%

60%
31.5%

40%

17.4%

0.6%

0.5%

Medium PET

20%

21.1%

23.1%

2Q 2011

2Q 2012

0%

Appendix-9

Small PET

8. Number of Vending Machines, Market Share(1) Number of vending machines(Units)End of2011
Can vending machine
Cup vending machine
Total

End of2Q 2012change244,710
24,060245,496
23,198786(862)

268,770

268,694(76)* Figures are the combined total of Coca-Cola West Co., Ltd. and Nishinihon Beverage Co., Ltd.

(2) Market share of vending machines
(%)

2011
32.2

Out market share

2012－(Source : Survey of vending machines (covering June to July), conducted by Intage Inc.)

9. Home Market Share
(January 1, 2012 to June 30, 2012)(%)

2Q 2011

2Q 2012

Total

21.5

22.4

Supermarkets
CVS
Retail stores
Drug stores

21.7
21.1
22.2
20.5

22.622.6
20.8
22.6(Source : Store Audit conducted by Intage Inc.)

10. Segment Information(million yen)

Net revenues
To outside customers
and consumers
Intersegment sales ortransfers

Segment profit

2Q 2011
Soft drink Health food Other
16,952
172,175
805

Total
189,933

2Q 2012
Soft drink Health food Total
18,447 184,300
165,853

172,175

16,952805

189,933

165,853

18,447

184,300－－－－－－－

3,951

2,051

11

6,014

420

2,737

3,157

Notes: Net revenues and segment profit correspond to net revenues and operating income reported in the consolidated statements of income.

Appendix-10