Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2023
(Based on Japanese GAAP)
August 10, 2023
Company name:KENKO Mayonnaise Co., Ltd.

Stock exchange listing: Tokyo
Stock code:
2915
Representative:
Inquiries:

URL

https://www.kenkomayo.co.jp

President and Representative Director
Director and Executive Vice PresidentKunikazu Shimamoto
Yoichi Terajima

Scheduled date to file Quarterly Securities Report:
Scheduled date to commence dividend payments:

August 10, 2023–

Preparation of supplementary material on quarterly financial results:
Holding of quarterly financial results meeting:

NoNo

TEL

03-5941-7682(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023)(1) Consolidated operating results (cumulative)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Three months ended June 30, 2023
21,402
6.6
199 (42.0)
244 (29.5)
142 (41.6)
Three months ended June 30, 2022
20,0859.9344 (14.7)
347 (16.4)
244 (11.0)
Earnings per share

Diluted earnings per share

Yen
8.83
15.00

Three months ended June 30, 2023
Three months ended June 30, 2022

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
62,37462,229As of June 30, 2023
As of March 31, 2023

Equity ratio

Millions of yen
37,17736,794

%
59.6
59.1

2. Cash dividends
Annual dividends per share

Year ended March 31, 2023
Year ending March 31, 2024

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
8.00

Yen–

Yen
9.00

Yen
17.00

10.00

–

15.00

25.00

Year ending March 31, 2024 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
Net sales
Full year

Millions of yen
87,400Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
Earnings per shareowners of parent% Millions of yen% Millions of yen% Millions of yen
%
Yen
6.1
1,220–
1,300 667.8
570
17.4
35.05

1

4. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2023
(changes in specified subsidiaries resulting in the change in scope of consolidation):(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

NoYes(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

No
No

Restatement of prior period financial statements:

No(4) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of June 30, 2023

16,476,000 shares As of March 31, 2023

16,476,000 shares

Number of treasury shares at the end of the period
As of June 30, 2023

350,578 shares As of March 31, 2023

350,578 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2023

16,125,422 shares Three months ended June 30, 2022

216,275,422 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2023

As of June 30, 2023

AssetsCurrent assets
Cash and deposits

12,28911,818Notes receivable - trade
Accounts receivable - trade65
13,21867
13,606Merchandise and finished goods
Work in process

2,514
15

2,792
17

Raw materials and supplies
Other

1,092
456

1,326
259

Allowance for doubtful accounts
Total current assets

(0)

(0)

29,651

29,887

10,68810,518

7,711
6,021

7,260
6,021

0315

0292

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net

24,73824,094

Intangible assets
Investments and other assets

Total property, plant and equipment

807

921

Investment securities
Deferred tax assets

5,582
178

6,132
100

Other
Allowance for doubtful accounts

1,300(30)1,269(30)

Total investments and other assets
Total non-current assets
Total assets

3

7,031

7,471

32,57732,48762,22962,374

(Millions of yen)
As of March 31, 2023

As of June 30, 2023

Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating

11,479845

11,853
1,013

Current portion of long-term borrowings
Income taxes payable

1,144
228

931
114

Other provisions
Other456
3,931

207
3,954

Total current liabilities

18,087

18,075

Non-current liabilities
Long-term borrowings

4,321

4,171

347
2,679

309
2,640

Retirement benefit liability
Other
Total non-current liabilities

7,348

7,122

25,43525,197

Shareholders' equity
Share capital

5,424

5,424

Capital surplus
Retained earnings

5,691
24,635

5,691
24,633

Total liabilities
Net assets

Treasury shares
Total shareholders' equity

(530)

(530)

35,22135,218

1,573
15

1,945
32

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4(15)

(19)

1,572

1,958

36,79437,17762,22962,374

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Net sales

20,085

21,402

Cost of sales

16,034

17,550Gross profit

4,050

3,852

Selling, general and administrative expenses

3,706

3,652

344

199–

9Interest and dividend income
Other

19251738

Total non-operating income

45651613169–
6

Operating profit
Non-operating income
Share of profit of entities accounted for using equity method

Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method
Other
Total non-operating expenses

4220347

244

Gain on change in equity
Subsidy income

241–1

Total extraordinary income

26100

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on retirement of non-current assets

00

Profit before income taxes

Total extraordinary losses

373

245

Income taxes

129

103

Profit244

142

Profit (loss) attributable to owners of parent

244

142

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2022

Three months ended
June 30, 2023

Profit244

142

Other comprehensive income
Valuation difference on available-for-sale securities

(123)

372

0(4)

259

17

136

385

Comprehensive income

380

528

Comprehensive income attributable toComprehensive income attributable to owners of parent380528

Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income6