79

Introduction

Value Creation Story

Financial &Non-Financial Strategy

Sustainability

Risk Management

Governance

Financial /Corporate Information

80

Financial / Corporate Information

Overview of Full-Year 2022 Results
Analysis of Operating 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 has grown by 4% versus the previous fiscal year. This wasdue to demand being supported by recovery in the number ofpeople returning to the streets of Japan with the easing of
COVID-19 restrictions, revitalization of economic activity, and arecord-breaking heat wave contributing to volume growth, while theprice 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 business andconsumer behaviors. Under these circumstances, we positioned
2022 as “The year of building a foundation for sustainable growth”
and built 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, andexecuting effective campaigns to capture opportunities for therecovery in traffic. In addition, to respond to current cost pressuresand 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 carefully
negotiated with customers and made efforts to reflect revised prices
as soon as possible, particularly for vending machines. In
manufacturing and supply chain fields, while faced with risingcommodity and utility prices, we built a supply chain that can
flexibly respond to sudden changes in demand by revamping ourSales and Operations Planning process and leveraging our Saitama
and Akashi Mega Distribution Centers, two of the largest automateddistribution centers in Japan by storage and shipping capacities.
Although we experienced a surge in demand during thesummer-the period of peak demand- coinciding with a recovery intraffic and the heat wave, our efforts resulted in a stable supply of
products. We worked to reduce costs through efficient use of
manufacturing facilities and reviewing our distribution network.
In addition, we realized ESG targets that are based on creating
shared value with society. To achieve our 2030 Package Vision,
which aims for a World Without Waste, we worked on the design
aspects of product packaging, such as expanding the use of 100%
recycled PET bottles and establishing a recycling scheme incollaboration with local governments and partner companies for thesteady 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 andselling products produced from recycled materials. To reducegreenhouse gas (GHG) emissions, we enhanced our climate-related
financial disclosure and promoted activities based on therecommendations of the Task Force on Climate-related Financial
Disclosure (TCFD). In other efforts to contribute to local communities
through business, we 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 worked to raise understanding of LGBTQ throughinternal and external awareness-raising opportunities to create a

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

Analysis of Financial Position
better working environment. Such ESG initiatives have been positively
appraised, and for the fifth consecutive year we have been selected
as a component of the DJSI Asia Pacific, a leading global ESG
investment index. Details for the fiscal year earnings are as follows.
Business Performance Summary(Unit: millions of yen)

2021

2022

Change (%)

Revenue

785,837

807,430

2.7

Business loss

(14,662)(14,443)—

Net loss attributable toowners of parent(2,503)(8,070)—*1 “Business loss” is a measure of our underlying or recurring business performance.
Business 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 loss attributable to owners of parent for 2021 is a total of continuing operationand discontinued operation results.

Consolidated revenue was 807,430 million yen (2.7% increaseof 21,594 million yen from the same period of the previous year).
Although there was negative impact on sales volume following theprice revisions, sales volume increased by 3% versus the previous
year. This was due to the introduction of new products andchannel-specific efforts to meet diversifying consumer needs, which
supported capturing the opportunity of traffic recovery and increased
demand due to the heat wave. Volume growth in the profitablevending channel and the improvement in wholesale revenue percase through price revisions contributed to the increase in revenue.
In the fourth quarter (October 1, 2022 to December 31, 2022), withthe price revisions implemented in October for small package
products, wholesale revenue per case improved in all channels.
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 of transformation.
However, external factors such as commodities, yen depreciationand 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 business income
improved versus the previous year, operating income improved
versus the previous year due to gains on sales of fixed assets and adecrease in temporary paid leave expenses. Other income(non-recurring) for the fiscal year included gains on sales of property,
plant, and equipment of 4,561 million yen and 3,329 million yen ingovernment subsidies for employment adjustment. Other expenses(non-recurring) included 2,168 million yen in temporary paid leave
expenses, 1,298 million for transformation 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 due to theabsence 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.

Assets at the end of the year were 826,737million yen, a decreaseof 40,375 million yen compared with the end of the prior fiscal
year-end period. This is mainly due to a decrease in “cash and cash
equivalents” resulting from redemption of bonds, and a decrease in“property, plant and equipment” because 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 prior year
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, adecrease of 16,093 million yen from the end of the prior year
period. This is mainly due to a decrease in “Retained earnings” as aresult of dividend payments.

Analysis of Cash Flows
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 other liabilities,” 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
resulted mainly from “Acquisitions of property, plant and equipment
and intangible assets” etc., as a result of strategic, investments thatserve as a foundation for growth, alongside “Proceeds from sales ofproperty, plant and equipment and intangible assets” as part of theefforts to optimize the 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 endof the year was 84,074 million yen, a decrease of 26,422 million yen
from the end of the prior fiscal year-end.

Capital Expenditures
The Group implemented capital expenditure totaling 42,540 million
yen in the fiscal year ended on December 31, 2022. The
expenditures were mainly for the introduction of vending machines
to the market with the aim of strengthening sales capabilities,
improvement of manufacturing efficiency, acquisition of new productsupport facilities, and investments in Akashi Mega DC for
optimization of logistics networks in the Kansai area. Capital
expenditures include tangible fixed assets, right-to-use assets, andintangible assets.

Research and Development
No relevant matters apply.

Policies for Profit Distribution and Dividends
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 fundinvestment for sustainable growth for our business and further
enhancement of corporate value. We set a basic policy regarding
dividends, which includes active redistribution of profits while placing
the highest priority on paying dividends in a stable manner, bycomprehensively reviewing the business performance and level ofretained 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 a year-end
dividend of 25 yen per share for a total annual dividend of 50 yen per
share in the fiscal year ending December 31, 2022.
On future shareholder returns, we stay committed bycomprehensively reviewing its business performance trends andfinancial conditions, and examining the best approaches that could
be taken by including the share repurchase program.

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

81

Introduction

Financial &Non-Financial Strategy

Value Creation Story

Sustainability

Risk Management

Governance

Financial /Corporate Information

82

Financial / Corporate Information

Key Financial and Non-Financial Data
JGAAP

2012

2013

2014

2015

2016

2017

IFRS

Operating Results (Fiscal Year):

2017

2018

2019

2020

2021

2022

Operating Results (Fiscal Year):

Revenue(Millions of yen)

386,637

431,711424,406

440,476

460,455

872,623

Revenue(Millions of yen)

837,069

927,307914,783

791,956

785,837

807,430

Gross Profit

Gross Profit(Millions of yen)412,782

452,151

441,060

362,916

350,505

351,755

(%)

49.3

48.8

48.2

45.8

44.6

43.6

(Millions of yen)

40,177

23,276

15,042

169(14,662)(14,443)(Millions of yen)

190,795

215,287

212,881

223,951

238,611450,249

Gross Profit Margin

(%)

49.3

49.9

50.2

50.8

51.8

51.6

Gross Profit Margin

Operating Income(Millions of yen)

13,463

15,927

11,00814,262

21,14340,579Business Income

(%)

3.5

3.7

2.6

3.2

4.6

4.7

Business Income Margin

(%)

4.8

2.5

1.6

0.0

—

—

EBITDA(Millions of yen)

—

—

—

—

—

—

EBITDA(Millions of yen)

81,56070,807

71,99359,08342,49831,343Net Income Attributable to Ownersof the Parent(Millions of yen)

6,031

13,625

4,482

9,970

5,245

25,244Net Income Attributable to Ownersof the Parent(Millions of yen)

21,967

10,117(57,952)(4,715)(2,503)(8,070)Cash Flows from Operating Activities(Millions of yen)

26,32440,082

28,62840,422

34,38872,450Cash Flows from Operating Activities(Millions of yen)

73,014

51,244

42,62943,71635,982

42,717

Cash Flows from Investing Activities(Millions of yen)

(14,243)(16,493)(9,590)(24,994)(19,921)(41,090)

Cash Flows from Investing Activities(Millions of yen)

(14,299)(48,628)(68,308)(52,076)

15,271(23,090)

Free Cash Flow

(Millions of yen)

12,08023,58819,037

15,427

14,46731,359

Free Cash Flow

(Millions of yen)

58,715

2,616(25,679)(8,360)51,253

19,628Cash Flows from Financing Activities(Millions of yen)

(7,149)(8,286)(37,498)

22,416(7,546)(26,159)

Cash Flows from Financing Activities(Millions of yen)

(26,717)(55,835)(73,994)

20,912(67,134)(46,050)

Cash and Cash Equivalents at
End of Fiscal Year

(Millions of yen)

39,49560,27541,83079,82886,727

118,741

Cash and Cash Equivalents at
End of Fiscal Year

(Millions of yen)

118,742

65,510113,825

126,378

110,497

84,074

Total Assets(Millions of yen)

337,348

374,418

337,260

378,105

377,468

883,918

Total Assets(Millions of yen)

929,304

877,472

952,444939,603

867,111826,737

Interest-Bearing Debt

(Millions of yen)

81,385

102,814

246,521271,233

214,124

179,970(Times)

0.1

0.2

0.5

0.5

0.4

0.4

(Millions of yen)

655,038

580,906

506,491

502,093492,451

476,358

Operating Income Margin

Cash Flow Status (Fiscal Year):

Cash Flow Status (Fiscal Year):

Financial Position (End of Fiscal Year):

Financial Position (End of Fiscal Year):(Millions of yen)

—

—

—

—

—

—

Interest-Bearing Debt

D/E Ratio(Times)

—

—

—

—

—

—

D/E Ratio

Net Assets(Millions of yen)

231,056

257,936

254,150

260,878

261,173

627,485

Net Profit per Share (EPS)

(Yen)

60.33

128.15

41.07

91.35

48.05

144.26

Basic Earnings per Share (EPS)(Yen)

125.5352.68(322.22)(26.29)(13.96)(45.00)Net Assets per Share (BPS)(Yen)

2,307.44

2,359.82

2,325.19

2,386.81

2,389.28

3,070.01

3,204.90

3,163.63

2,797.03

2,745.12

41.00

41.00

2,821.27

2,655.38

(Yen)

41.00

41.00

46.00

44.00

Equity Attributable to Owners of
the Parent per Share (BPS)(Yen)

Annual Dividend per Share
Consolidated Dividend Payout Ratio

(%)

68.0

32.0

99.8

44.9

95.7

30.5

Annual Dividend per Share

(Yen)

44.00

50.00

50.00

25.00

50.00

50.00

Stock Price at End of Year

(Yen)

1,333

2,227

1,661

2,457

3,445

4,115

Consolidated Dividend Payout Ratio

(%)

35.1

94.9

—

—

—

—

Stock Price at End of Year

(Yen)

4,115

3,285

2,791

1,609

1,320

1,437

Per-Share Information:

Total Equity
Per-Share Information:

Other Financial Data:

Other Financial Data:

Return on Equity (ROE)

(%)

2.6

5.6

1.8

3.9

2.0

5.7

Return on Assets (ROA)

(%)

4.1

4.7

3.0

3.8

5.5

6.3

Equity Income Margin Attributable to
Owners of the Parent (ROE)

(%)

4.6

1.6

(10.7)

(0.9)

(0.5)

(1.7)

Equity Ratio

(%)

68.4

68.8

75.2

68.9

69.1

70.9

Total Assets / Pre-tax Profit Ratio (ROA)

(%)

5.6

1.6

(6.1)

(1.3)

(2.4)

(1.5)

Price Earnings Ratio (PER)(Times)

22.1

17.4

40.4

26.9

71.7

28.5

Price Book Value Ratio (PBR)(Times)

0.6

0.9

0.7

1.0

1.4

1.3

Percentage of Equity Attributable to
Owners of the Parent

(%)

70.4

66.2

53.1

53.4

56.8

57.6

Capital Expenditure(Millions of yen)

20,031

20,242

22,783

16,181

25,72842,539Price Earnings Ratio (PER)(Times)

32.8

62.4

(8.7)

(61.2)(94.6)(31.9)

Depreciation(Millions of yen)

20,64323,75822,94324,04817,49137,352

Price Book Value Ratio (PBR)(Times)

1.3

1.0

1.0

0.6

0.5

0.5

(Millions of yen)

42,53953,136

103,882

65,52140,18442,540

Outstanding Shares at End of Year

(1,000 shares)

111,126

111,126

111,126

111,126

111,126

206,269

Depreciation and Amortization Expenses (Millions of yen)

41,38347,531

56,951

59,58357,16045,786

Treasury Stock at End of Year

(1,000 shares)

11,155

1,982

1,984

1,987

1,989

2,016

7,877

9,650

8,324

8,837

8,616

17,197

Number of Directors

10

11

12

11

14

9

Number of Outside Directors

2

2

2

2

4

4

Non-Financial Data (End of Fiscal Year):

Number of Employees at End of Year
Average number of temporary employees
not included in the above

1,890

2,059

1,949

2,613

2,499

4,403

Notes: 1. The data through 2016 represents results for Coca-Cola West Co., Ltd. prior to the business integration. The data for 2017 represents results for Coca-Cola Bottlers
Japan Holdings Inc. from the second quarter.
2. Amounts are rounded down to the nearest unit under Japanese standards and rounded up or down to the nearest unit under IFRS. Percentages are rounded up or down
to the nearest unit.
3. In December 2020, as a result of the decision to sell all shares in Q’sai held by the Company, the Healthcare and Skincare business has been classified as a discontinued
operation and assets and liabilities of the Healthcare and Skincare business have been classified as the assets held for sale and liabilities directly related to assets held forsales. Therefore, these are excluded from the above major financial data for 2020 and 2021.
This sale of shares was completed on February 1, 2021.
4. Figures for percentage of women in manager positions and women in manager and leader positions refer to the beverage business.
5. Water usage is the total amount of water used in the manufacture of products (excluding water in products) in the beverage business.
6. Greenhouse gas emissions refers to the supply chain emissions (Scope 1-3) in the beverage business. Some emission factors and the scope of data were revised from the2021 results.

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

Capital Expenditure
Non-Financial Data (End of Fiscal Year):
Outstanding Shares at End of Year

(1,000 shares)

206,269

206,269

206,269

206,269

206,269

206,269

Treasury Stock at End of Year

(1,000 shares)

2,016

22,793

26,917

26,92026,92526,92817,197

17,10016,95916,27415,083

14,484

9

9

9

9

9

9

Number of Employees at End of Year
Average number of temporary employees
not included in the above

4,403

Number of Directors

3,578

4,008

3,777

3,416

4

4

6

7

7

7

(%)

—

3.9

4.2

5.8

6.3

6.6

Number of Outside Directors
Women in Manager Positions

3,957

(%)

—

6.8

7.3

9.3

9.9

10.0

(1,000 m3)—

13,99813,316

12,56012,993

13,287

Water Replenishment Rate

(%)

—

277

322

364

353

420

Greenhouse Gas Emissions(1,000 tons-CO2e)

—

—

2,347

2,076

2,366

2,339

Women in Manager and Leader Positions
Water Usage

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

83

Introduction

Financial &Non-Financial Strategy

Value Creation Story

Sustainability

Risk Management

Financial / Corporate Information

Financial / Corporate Information

External Evaluations (As of May 2023)

Company Overview and Stock Information (As of December 31, 2022)

Our initiatives to resolve social issues have been recognized by both the government and outside institutions.

Coca-Cola Bottlers Japan Holdings Inc.

EcoVadis Sustainability
SurveyReceived Silver rating in 2022

Nikkei SDGs
Management Survey
Awarded 4.0 stars in 2022

14,484

Number of employees

Nikkei Smart WorkManagement Survey
Awarded 4.5 stars in 2022

L-boshi Certification
Awarded 2 stars in 2019

Eco-First Program
Members
Certified in 2023

Green Partner 2022

Tokyo Metropolitan Government
Women’s Participation Awards
Awarded in 2021

New Diversity Management
Selection 100
Awarded in 2020

PRIDE Index 2022
Awarded Gold

PRIDE Index 2022
Awarded Rainbow

Number of shares per
trading unit

100 shares

Composition of shareholders (1 unit: 100 shares)(As of December 31, 2022)
Number of shares
owned (thousands)

Percentage ofvoting rights (%)

Coca-Cola (Japan) Company, Limited

27,956

15.59

The Master Trust Bank of Japan, Ltd. (Trust Account)

19,404

10.82

Custody Bank of Japan, Ltd. (Trust Account)

5,755

3.21

Ichimura Foundation for New Technology

5,295

2.95

Satsuma Shuzo Co., Ltd.

4,736

2.64

Senshusha Co., Ltd.

4,088

2.28

Coca-Cola Holdings West Japan, Inc.

4,075

2.27

Mitsubishi Heavy Industries Machinery Systems, Ltd.

3,912

2.18

MCA Holdings Co., Ltd.

3,408

1.90

Bnymsanvas Agent/Clients Lux Ucits Non Treaty 1

3,192

1.78

Shareholder

CDP 2022 Supplier
Engagement Rating survey
Selected for the highest rating asa “Supplier Engagement Leader”

206,269 thousand shares (Common share)

Note: The Company has issued only common shares, and has not issued any class shares or preferred shares

Major shareholders

CDP scores for 2022
Climate change “A”
Water security “A-”

Outstanding shares

Number of shareholders 77,268 (Shareholders with voting rights
excluding treasury stock: 60,500)

15,232 million yen

Capital
S&P/JPX
Carbon Efficient Index

500,000 thousand shares

Authorized shares

December 20, 1960

Founded2579

Securities code

Tokyo Midtown Tower, 9-7-1 Akasaka,
Minato-ku, Tokyo 107-6211, Japan

Headquarters

FTSE Blossom Japan
Sector Relative Index

84

Corporate Profile
Company name

Dow Jones Sustainability
Asia Pacific Index(DJSI Asia Pacific)

Financial /Corporate Information

Governance

Financial institutions
20.10%(41 shareholders,
358,920 units)

Individuals and others
15.97%(59,274 shareholders,
285,189 units)

Securities companies
4.13%(33 shareholders,
73,713 units)

Other domestic corporations
36.87%(695 shareholders,
658,321 units)

Foreign corporations
22.93%(457 shareholders,
409,471 units)

Note: Figures related to major shareholders, above, and composition of shareholders are calculated
and presented excluding 26,928 thousand shares of treasury stock held by the Company.

Bond Information
Total amount issued Coupon
rate (%)(Million yen)

Health & Productivity
Management Outstanding
Organization 2023
White 500

Certified as Sports Yell
Company 2023 by
Japan Sports Agency

Cancer Ally Award 2022
Received Silver

Good Career Company
Award 2022
Received Innovation Award

SSON Impact Award

Note: Awarded to CCBJH and some of its Group companies.
Also received the Director’s Award for Excellence in Disability Hiring in 2019 from the Bureau of Industrial and Labor Affairs, and obtained ISO 14001 (Environmental
Management System) certification and FSSC 22000 (Food Safety Management System) certification.

Maturity date

CCBJH 1st Series of Unsecured Straight Bond

40,0000.100

September 19, 2024

CCBJH 2nd Series of Unsecured Straight Bond

60,0000.200

September 18, 2026

CCBJH 2nd Series of Unsecured Straight Bond

50,0000.270

September 19, 2029

Rating Information
2020

2021

2022

Japan Credit Rating Agency, Ltd. (JCR) long-term issuer rating

AA-

AA-

AA-

Rating and Investment Information, Inc. (R&I) issuer rating

A+

A+

A+

Stock price and stock trading volume
Stock price (Yen)Participation in External Initiatives (As of May 2023)

Stock trading volume (1,000 shares)

30,00028,00026,000We are working to resolve social issues through participation in a number of external initiatives.

24,000

Nikkei Index (Close)

22,000CCBJH stock price
CCBJH stock trading volume

20,00018,00016,000The United Nations
Global Compact

The CEO Water Mandate

Task Force on Climate-related
Financial Disclosures (TCFD)

TCFD Consortium

GX League

4,000

35,0003,500

30,0003,000

25,0002,500

20,0002,000

Japan Climate Initiative(JCI)

Taskforce on Nature-related
Financial Disclosures (TNFD)

30by30 Alliancefor Biodiversity

Business for Marriage Equality(BME)

Business Support for LGBT Equality
in JapanNote: In addition, we have endorsed the Leading Tenant Action Policy from the Ministry of the Environment, which summarizes companies’ efforts at decarbonization. We havealso formulated and published “Declaration of Partnership Building” in support of the aims of building a sustainable relationship where large corporations and small andmedium-sized enterprises can grow together.

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

1,500

15,0001,000

10,000

500

5,000

0

1

2

3

4

5

6

2020

7

8

9

10

11

12

1

2

3

4

5

6

2021

7

8

9

10

11

12

1

2

3

4

5

6

2022

7

8

9

10

11

12

1

2

3

4

(Month)02023

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

85

Introduction

Value Creation Story

Financial &Non-Financial Strategy

Sustainability

Risk Management

Governance

Financial /Corporate Information

Third-Party Opinion

Financial / Corporate Information

Group Companies
Coca-Cola Bottlers Japan Inc.

Kadiac Co., Ltd.

Principal
business

Manufacturing, distribution, and sales of beverage
products and alcoholic products

Principal
business

Head office

Tokyo Midtown Tower, 9-7-1 Akasaka, Minato-ku,
Tokyo 107-6211, Japan

Head office

We asked Professor Ishikawa, Specially Appointed Professor of Eikei University of Hiroshima and Professor
Emeritus of Kobe University, an expert in 3R (Reduce, Reuse, Recycle), waste policy and LCA (Life Cycle
Assessment), for his opinion on the report.

Operational business of vending machines
1 Senshu Airport Minami, Sennan, Osaka 549-0021,
Japan

Representative Calin Dragan, Representative Director, President and CEO

Representative Hisashi Terahara, Representative Director and President

Masaki Ishikawa

Coca-Cola Customer Marketing Co., Ltd.

Coca-Cola Bottlers Japan Business Services Inc.

Specially Appointed Professor and Assistant to the President, Eikei University of Hiroshima
Professor Emeritus, Kobe University

Principal
business

Sales and export / import of beverage products,
nonessential beverage products, and otherbeverage products

Head office

Roppongi Hills North Tower, 6-2-31, Roppongi,
Minato-ku, Tokyo 106-0032, Japan

Representative Maki Kado, Representative Director and President

Coca-Cola Bottlers Japan Vending Inc.

Principal
business

Shared service business to support the sales ofbeverage, nonessential beverage, alcoholic beverage,
dairy beverage, and food products, Management ofbeverage sales equipment

Head office

Tokyo Midtown Tower, 9-7-1 Akasaka, Minato-ku,
Tokyo 107-6211, Japan

Operational business of vending machines

Coca-Cola Bottlers Japan Benefit Inc.

Head office

Sumitomo Fudosan Shinjuku Central Park Building,
6-18-1 Nishishinjuku, Shinjuku-ku, Tokyo 160-0023,
Japan

Principal
business

Operation of Special subsidiary company, recruitmentof persons with disabilities within the group, support
for retention, and related office work operations, etc.

Head office180, Kano, Okegawa-shi, Saitama 363-8601, JapanFV Japan Co., Ltd.
Principal
business

Manufacturing, processing, and sales of beverage
products and office coffee service business, etc.

Head officeSunshine 60 Bldg., 3-1-1 Higashi-Ikebukuro,
Toshima-ku, Tokyo 170-6018, Japan

Representative Tatsuhiko Sano, Representative Director and President

Professor Ishikawa specializes in environmental economics/environmental systems analysis. Has served
as an expert on the 3Rs, waste policy, and LCA at government and municipal councils. Specially
Appointed Professor, Department of Social System Design, Eikei University of Hiroshima since 2019.
Established the NPO Gomi-Japan in 2006 to reduce the generation of waste. Engaged in various
initiatives as representative director of Gomi-Japan such as a program to reduce packaging. The
program was awarded the Good Design Prize (New Area Design Division) in 2007, the 3Rs
Distinguished Service Prize, Prime Minister’s Award and the Kobe Youth Prize 2012, the Low Carbon
Cup, Minister of the Environment Prize Gold Award (Community Activity Category) in 2015 and the18th Green Purchasing Prize, Grand Award in 2017.

Representative Bjorn Ivar Ulgenes, Representative Director andChairman, President

Principal
business

Representative Takahide Baba, Representative Director and President

My impression after reading the integrated report was thatwith various stakeholders, including consumers, local

Representative Narihiko Uemura, Representative Director and President

CCBJH is making steady efforts to realize the goal of a “World

governments, and distribution businesses. In this regard, theBannai Saketen Inc.

Without Waste (Zero-Waste Society)” and is achieving results

promotion of horizontal recycling, in which used PET bottles are

despite major external impacts to management, such as thecollected and recycled into PET bottles in cooperation withDistribution and sales of alcoholic products

COVID-19 disaster and the sharp rise in raw material prices.

Mitsubishi Estate Co., Ltd., Sugi Pharmacy Co., Ltd. and local

5-2, Jyoto-cho 2, Maebashi City, Gunma 371-0016,
Japan

Since the success of Coca-Cola’s I LOHAS, reduced

governments around the country, is particularly highly regarded

container weight has been promoted by many companies, andfrom the perspective of promoting voluntary collection by

is now making even greater progress, since it offers bothbusinesses and reducing CO2 emissions over the life cycle.

Principal
business
Head office

Representative Kengo Takenaka, Representative Director

Glossaryenvironmental benefits and reduced production costs. This is

In addition, the fact that activities aimed at horizontal

due to the fact that I LOHAS has changed consumer perception

recycling are not limited to “bottle-to-bottle” recycling of PETof extremely thin bottles from being difficult to use to a container

bottles, but have been expanded to “CAN to CAN” recycling ofthat is easy to crush. In the Integrated Report, I learned that thealuminum cans, pallets and shells used in logistics, and I think it

ELT

An abbreviation for Executive Leadership Team. Management organization in CCBJI Group including CEO andfunction heads.

fruits of this success are being harvested even more significantly

is an activity that should be expanded not only to the beveragewith the increase in lightweight products.

industry but also to other consumer goods in the future. In thisS&OP

An abbreviation for Sales and Operations Planning. S&OP is a method for optimizing the entire supply chain bysharing information among related divisions, such as manufacturing and sales, to accelerate decision-making.

In order to realize the goal of switching all PET bottles toCSV

An approach to resolving social problems through business and creating both economic value and social value.

DC

An abbreviation for distribution center.

Best practices

Refers to the most efficient techniques, methods, processes, or activities to achieve a certain result.
It also refers to the idea that there is a single technique or method that is the most efficient way to do a job.

Bottle-to-bottle

Collection, processing, and recycling of used PET bottles, which are then regenerated as PET bottles and used
as beverage containers.

SCM

An abbreviation for supply chain management. Refers to management methods that aim for total optimization ofefficiency in the flow of goods from production to final demand, including material procurement, manufacturing,
distribution, and sales. Can also refer to the overall mechanisms from production to final demand.

“Learn fromthe Forest” Project

Labelless products

World Without
Waste

Coca-Cola Bottlers Japan Inc. Integrated Report 2022

86

respect, Coca-Cola Bottlers Japan Holdings, Inc. is a pioneer insustainable materials by 2030, as set forth in the “2030expanding the scope of its activities to address the plastics

Packaging Vision,” it is essential to collaborate and cooperateissue for businesses, and is highly commendable.

In response to the third-party opinion
We would like to express our sincere gratitude to Professor

steadily implement each of these strategies and, with regard to

Ishikawa for his valuable feedback. As the first year ofsustainability, we will work to achieve the non-financial goal of

A nationwide environment protection & education program implemented by the Coca-Cola System in 2006.
The purpose is to have people experience different activities such as planting trees in the forest or in source water
areas and nature programs to understand the importance of nature and water, the relationship between people andnature, and the significance of protecting the environment by coming in contact with the forest and living things.
This project is also positioned as one of Coca-Cola’s global source water protection activities.

publication of the Integrated Report, this document clearly“CSV Goals” and creating shared value (CSV) with society,lays out our financial and non-financial strategies to achieve

which is at the core of our management.

Products sold without labels on containers. These products eliminate the effort required to remove labels,
making garbage separation easier and reducing plastic waste, making it convenient to the home as well as
friendly to the environment.
The Coca-Cola Company announced in 2018 that it would work toward a “world without waste” by launchinga global initiative to reduce its environmental impact.

profitable growth for the CCBJH Group, placing the highest

Our desire is to create value for our stakeholders andpriority on improving structural profitability. We are gratefulcontinue to be the preferred partner for decades to come. We

for the recognition we have received for our efforts based

will continue our journey toward sustainable growth andon these strategies, particularly the strengthening of ourincreased corporate value by delivering happy moments tosustainability strategy promotion. Going forward, we will

everyone while creating value.

Coca-Cola Bottlers Japan Inc. Integrated Report 2022