FOR IMMEDIATE RELEASE
May 14, 2019
Nichirei Corporation

Announcement of Revision of the Nichirei Management Principles
and Formulation of Long-term Management Goals toward 2030
Nichirei Corporation announces that it has revised the Nichirei Management Principles andformulated its long-term management goals toward 2030 in order to realize sustainable growthby creating value that is unique to Nichirei.
I. Background
Since our founding in 1945, we have contributed to the advancement of society andimprovement of people’s lives through our businesses centered on refrigeration technologythat have produced numerous innovations. In 2005, we shifted to a holding company
structure, which has accelerated managerial decision-making and business expansion, andachieved steady growth driven especially by the processed foods and logistics businesses.
However, changes in our business environment have grown increasingly intense on aglobal scale. In order to realize the sustainable enhancement of enterprise value, whileclarifying our direction and fully exhibiting our strengths in diverse businesses that support
people’s diet and health, we have decided to revise the Nichirei Management Principles andhave formulated long-term management goals toward 2030.
II. Revision of Nichirei Management Principles
The new Nichirei Management Principles are as follows.
Mission (no change)
Focus on Lifestyles, and Provide True Satisfaction
VisionWe will continue to support good eating habits and health by leveraging
our state-of-the-art manufacturing practices that optimize nature’sbounty, along with our leading-edge logistics services.
Note: For more details on the new Nichirei Management Principles, please see the Attachment.

III. Formulation of Long-term Management Goals Toward 2030
(Recognition of the business environment)
The prospect of a significant decline in the Japanese population presents concerns over thelikelihood of a dwindling domestic consumer market. However, new demand will likely
arise from the growing need to save time and the diversification of consumption patterns,
resulting from changes in family composition and lifestyles. Outside of Japan, the frozen
foods and logistics markets are poised to expand, supported by an increasing consumer
orientation toward health and high quality, combined with population growth and progress indevelopment of refrigeration infrastructure in emerging countries. Meanwhile, expectations
and demands toward companies will undoubtedly become more diversified and sophisticatedtoward realizing a sustainable community.
In consideration of this business environment, we have formulated a vision toward2030 based on the new Nichirei Management Principles.
(Vision toward 2030)
The Company will promote innovation to create new value that solves the problems ofcustomers and society, and to contribute to people’s good dietary life and health.
In the domestic operations, we aim to firmly establish ourselves as the most profitablecompany in the processed foods and logistics businesses, by providing higher added value
and maximizing capital efficiency. In the overseas operations, we target an overseas sales
ratio of 30%, particularly through M&A and alliances to expand scale and operating area. Inaddition, we look to establish new earnings pillars by creating new businesses.
Nichirei Group’s Consolidated Target Figures
TargetFiscal year 2030

Net sales

1 trillion yen

Overseas sales ratio

30%

Operating profit margin

8%

Inquiries
Nichirei Corporation
Group Communication
E-mail: irinfo@nichirei.co.jp

Note: Aside from historical facts, Nichirei's present plans, forecasts and strategies as outlined in this publicationconsist of forward-looking statements about future business performance. These forecasts of future businessperformance and explanations of future business activities may or may not include words such as "believe,""expect," "plan," "strategy," "estimate," "anticipate" or other similar expressions. These statements are basedon the information available to Nichirei management at the time of publication. Actual results may differ
significantly from these forecasts for a variety of reasons, and readers are therefore advised to refrain frommaking investment decisions based solely on these forward-looking statements. Nichirei will not necessarily
revise its forward-looking statements in accordance with new information, future events, and other results.

Attachment

NICHIREI MANAGEMENT PRINCIPLES
I. MISSION
Focus on Lifestyles, and Provide True Satisfaction

II. VISION
We will continue to support good eating habits and health by leveraging our stateof-the-art manufacturing practices that optimize nature’s bounty, along with ourleading-edge logistics services.

III. GUIDING PRINCIPLES
1. Prioritize customers, safety, and quality
The corner stone of our business activities involves putting customers first andearning their long-lasting trust by ensuring safe, high-quality products andservices, and safety at every stage of our operations.
2. Ethical operations
We are committed to ensuring fair competition. Unethical practices make it
difficult to do business and can threaten the Group’s existence, given the timeneeded to regain trust once it has been lost.
3. Transparent management
Our operations are transparent and we are beholden to our stakeholders toaccurately and impartially disclose management-related information in order toenhance our corporate value and continue to earn stakeholders’ trust.
4. Sustainable communities
As a food- and health-related enterprise, we strive to help communities deal withissues they face by understanding their members’ livelihoods and future
prospects. We aim to make communities more sustainable by ensuring ourbusiness initiatives reflect their economic, social, and environmental situation.
5. Value creation
We will continue to create new value by drawing from our open, innovative
organizational culture and business practices.