NH Foods Group
Data Book
2024
Issued on July 31, 2024

Financial data

As of July 31, 2024

Financial data

Consolidated Financial Statements (past ten years)
NH Foods Ltd. and Subsidiaries
For the Years Ended March 31
Net sales
Operating income
Profit before tax[Net profit for the period from continuing operations before income taxes, etc.]

Profit attributable to owners of the parent[Net profit attributable to owners of the parent]

Business profit
Total assets
Total equity attributable to owners of the parent
Interest-bearing liabilities
Cash flows from operating activities
Cash flows from investing activities
Free cash flow
Cash flows from financing activities
Capital expenditures
Depreciation and amortization

USGAAP

IFRS(¥ million)

3/15

3/16

3/17

3/18

3/18

3/19

3/20

3/21

3/22

3/23

3/24

1,199,956
47,7701,229,324
49,2071,202,293
53,802

1,269,201
49,2181,258,463
ー

1,234,180
ー

1,229,826
ー

1,106,351
ー

1,151,886
ー

1,259,792
ー

1,303,432

43,79735,30949,11250,45552,79830,26727,03947,604

51,76022,16240,59931,04821,77935,004

37,14737,552

19,561

19,21432,61648,04916,63728,078

ー

ー

ー

ー

ー

661,567
353,664
136,758
29,681(31,517)(1,836)(17,187)
35,694
18,951

682,855
356,353
154,583
52,535(49,139)
3,396
8,182
36,79919,445720,276
404,126
138,284
65,254(38,271)
26,983(11,439)
43,765
19,765755,076
440,793
110,948
54,626(49,006)
5,620(27,508)
41,466
21,23450,589734,528
417,982
111,401
53,284(48,194)
5,090(27,110)
41,201
20,71438,311
741,388
401,014147,00930,844(45,110)(14,266)
2,932
47,82022,417

43,772
768,861
404,414
176,493
65,464(36,728)
28,736(3,077)35,75923,961

52,426825,405
433,595
193,750
82,518(57,827)
24,691(14,934)
67,161
21,67948,116909,213479,069
211,407
33,387(22,837)
10,550(12,162)
57,537
23,62325,596
937,155
492,913242,055
11,331(63,677)(52,346)
28,417
59,12425,472

44,939958,237
527,503214,852
86,586(39,224)
47,362(53,189)
44,157
26,686¥297.70¥7.16¥304.86¥245.56(¥31.72)¥213.84¥343.59(¥0.12)¥343.47¥348.46ー¥352.26
ー¥183.21
ー¥186.70ー¥348.46¥352.26¥183.21¥186.70¥311.13¥6.84¥317.97¥381.91¥88.01¥469.92¥176.27(¥13.83)¥162.44¥273.70¥1.00¥273.70¥279.50¥6.72¥286.22¥3,472.37¥46.00¥230.61(¥29.72)¥200.89¥3,498.72¥33.00¥322.66(¥0.12)¥322.54¥3,832.95¥52.00¥342.07ー¥350.00ー¥181.48ー¥186.64ー¥342.07¥4,100.70¥53.00¥350.00¥3,888.48¥53.00¥181.48¥3,896.64¥90.00¥186.64¥3,929.43¥90.00¥311.05¥6.84¥317.89¥4,243.70¥94.00¥381.82¥87.99¥469.81¥4,681.82¥102.00¥176.25(¥13.83)¥162.42¥4,808.70¥110.00ーーー¥5,138.81¥119.00

4.0
ー

3.1
ー

3.6
ー

4.6
ー

4.0
ー

2.2
ー

3.5
ー

9.4
6.6

4.8
4.9

4.8
5.3

7.8
5.9

10.5
5.0

3.4
2.4

5.5
4.1

Per share amounts
Basic earnings per share[Basic net profit per share attributable to owners of the parent]

Continuing operations (¥)
Discontinued operations (¥)
Total (¥)
Diluted earnings per share [Diluted earnings per share for the period
attributable to owners of the parent]

Continuing operations (¥)
Discontinued operations (¥)
Total (¥)
Total equity per share attributable to owners of the parent (¥)
Cash dividends (¥)

Financial indicators
ー

ー

ー

ー

4.0
9.2
6.4

4.0
6.1
6.5

4.5
9.2
7.0

3.9
8.8
6.2

Total equity attributable to owners of the parent ratio[Total equity ratio] (%)

53.5

52.2

56.1

58.4

56.9

54.1

52.6

52.5

52.7

52.6

55.0

Interest-bearing liabilities / Equity ratio[Equity ratio] (Times)

0.39

0.43

0.34

0.25

0.27

0.37

0.44

0.45

0.44

0.49

0.41

Interest coverage ratio (Times)
Payout ratio (consolidated) (%)

24.2
30.2

35.1
30.9

57.4
30.3

44.7
30.4

43.1
30.1

24.2
49.1

40.6
48.2

61.6
29.6

27.9
21.7

6.3
67.7

41.1
43.5

Business profit ratio (%)
Operating profit ratio (%)
Return on equity (ROE) (%)
Return on invested capital (ROIC) (%)

2

Financial data
Notes:
1. NH Foods Ltd. has voluntarily applied International Financial Reporting Standards (IFRS) to consolidated financial statements for the first quarter of the fiscal year ended March 31, 2019.
Where items differ from the USGAAP or IFRS standards, the corresponding USGAAP item is shown in [ ].
2. Figures have been rounded to the nearest unit.
3. As of April 1, 2018, NH Foods Ltd. carried out a share consolidation at a ratio of one share for each two shares of common stock.
Total NH Foods Ltd. shareholders’ equity per share, basic earnings per share attributable to NH Foods Ltd. shareholders and diluted earnings per share attributable to NH Foods Ltd. shareholders werecomputed on the assumption that the share consolidation was carried out at the beginning of the fiscal year ended March 31, 2015.
Cash dividends represent the actual payment prior to the relevant share consolidation.
4. Operating income represents net sales less cost of goods sold and selling, general and administrative expenses.
5. Starting from the fiscal year ended March 31, 2020, NH Foods Group discloses business profit (calculated by deducting the cost of goods sold, and selling, general andadministrative expenses from net sales, and making adjustments of currency gains and losses as determined by the Group, adjustments in accordance with IFRS, and adjustments of non-recurring
items) in place of the operating income results disclosed previously. The purpose of this change is to provide a clear indication of profit earned through business activities.
The figures for the fiscal years ended March 31, 2018 and March 31, 2019 have been restated retroactively.
6. Interest-bearing liabilities under USGAAP consists of short-term bank loans, current maturities of long-term debt and long-term debt,
less current maturities (including zero coupon convertible bonds) in the consolidated balance sheets.
7. Capital expenditures represent additions to tangible and intangible fixed assets.
Because it has been decided not to include increases in right-of-use assets in capital expenditures, the figures for the fiscal years ending March 2020 through March 2023 have been retroactively adjusted.
8. Depreciation and amortization consist of depreciation of tangible fixed assets and amortization of intangible fixed assets.
Because it has been decided not to include amortization of right-of-use assets in depreciation and amortization,
the figures for the fiscal years ending March 2020 through March 2023 have been retroactively adjusted.
9. ROE (%) = Profit attributable to owners of the parent / Average total equity attributable to owners of the parent × 100
Free cash flow (million yen) = Cash flows provided by operating activities + Cash flows used in investing activities
Total equity attributable to owners of the parent ratio (%) = Total equity attributable to owners of the parent / Total assets × 100
Interest-bearing liabilities/equity ratio (times) = Interest-bearing liabilities / Total equity attributable to owners of the parent
Interest coverage ratio (times) = Cash flows provided by operating activities / Interest paid
10. In the fiscal year ended March 2022, we sold our entire shareholding in Marine Foods Corporation, a consolidated subsidiary.
As result, Marine Foods Corporation and its subsidiaries, etc., are now classified as non-continuous businesses.
The ratio of business profit to net sales was calculated using business profit after adjustment for discontinued operations (¥50,532 million in the fiscal year ended March 31, 2021).
Please refer to Note 11 for business profit after adjustment for discontinued operations in the fiscal year ended March 31, 2022.
11. In the fiscal year ended March 31, 2023, we decided to sell our entire shareholding in our consolidated subsidiary, Breeders & Packers Uruguay S.A., to Minerva S.A. As a result, Breeders & Packers Uruguay S.A.
is now classified as a discontinued operation. Net sales and profit for the period before income tax for the fiscal years ended March 31, 2023 and March 31, 2022 are therefore shown as the amounts for continuing
operations, excluding discontinued operations.
The ratio of business profit to net sales was calculated using business profit after adjustment for discontinued operations (¥45,987 million in the fiscal year ended March 31, 2024,¥28,191 million in the fiscal year ended March 31, 2023, ¥46,222 million in the fiscal year ended March 31, 2022).

3

Financial data

Consolidated Financial Summary
Profitability Indicators

(％)

3/20

3/21

3/22

3/23

3/24

Gross profit ratio

16.7

18.0

17.3

14.1

15.6

Selling, general and administrative expenses ratio

13.5

13.7

13.6

13.2

13.2

Business profit ratio

3.6

4.5

4.0

2.2

3.5

1.6

2.8

4.2

1.3

2.2

Return on sales*1*1

Return on sales (%) = Profit attributable to Owners of The Parent/Net sales×100

Gross profit ratio
(％)

(％)

20

18.0

16.7

Selling, general and administrative
expenses ratio

20
17.3
14.1

15.6

15

13.5

13.7

(％)

6
13.6

13.2

13.2
4

4.5
3.6

4.0

3/20

3/21

3/22

3/23

3/24

2.8
3

0
3/20

3/21

3/22

3/23

3/24

2.2

1.6

1.3

1

2

0

0

3.5
2.2

5

4.2

5

10

10

Return on sales

Business profit ratio
(％)

-1
3/20

3/21

3/22

3/23

3/24

3/20

3/21

3/22

3/23

3/24

Total Assets, Total Equity attributable to Owners of The Parent and Interest-Bearing Liabilities
3/20

3/21

3/22

(¥ million)

3/23

3/24

Total assets

768,861

825,405909,213937,155

958,237

Total equity attributable to owners of the parent

404,414433,595

479,069

492,913527,503

Interest-bearing liabilities

176,493

193,750

211,407242,055

214,852

Interest-bearing liabilities(¥ million)

300,000
200,000

193,750
176,493

242,055
214,852
211,407

100,000
0
3/20

3/21

3/22

3/23

3/24

4

Financial data

Stability and Liquidity Indicators
3/20
Total equity attributable to owners of the parent ratio (%)
Interest-bearing liabilities/equity ratio (Times) *2

*1

3/21

3/22

3/23

3/24

52.6

52.5

52.7

52.6

55.0

0.44

0.45

0.44

0.49

0.41

Interest-bearing liabilities/cash flow ratio (%) *3

37.1

42.6

15.8

4.7

40.3

Interest coverage ratio (Times) *4

40.6

61.6

27.9

6.3

41.1

*1

Total equity attributable to owners of the parent ratio [NH Foods Ltd. shareholders’ equity ratio] (%) = Total equity attributable to owners of the parent/Total assets×100*2

Interest-bearing liabilities/equity ratio (Times) = Interest-bearing liabilities/Total equity attributable to owners of the parent*3

Interest-bearing liabilities/cash flow ratio (%) = Net cash provided by operating activities/Interest-bearing liabilities×100*4Interest coverage ratio (Times) = Net cash provided by operating activities/Interest paid

Total equity attributable toowners of the parent ratio

Interest-bearing liabilities/
equity ratio(Times)

0.8

80

(％)

52.6

60

52.5

52.7

52.6

Interest coverage ratio(Times)

55.0

0.6

0.44

0.45

0.44

0.49

60

0.41

40

0.4

40

20

0.2

20

0.0

0
3/20

3/21

3/22

3/23

3/24

3/20

3/21

3/22

3/23

0

3/24

61.6
41.1

40.6
27.9
6.3
3/20

3/21

3/22

3/23

3/24

Return Indicators

(％)

3/20

3/21

3/22

3/23

3/24

Return on equity (ROE) *5

4.8

7.8

10.5

3.4

5.5

Return on invested capital (ROIC) *6

5.3

5.9

5.0

2.4

4.1

*5

Return on equity (ROE) (%) = Profit attributable to owners of the parent/Average total equity attributable to owners of the parent×100*6

Return on invested capital (ROIC) (%) = Invested capital turnover × Business profit rate × (1 – Tax rate)

Return on invested capital (ROIC)

Return on equity (ROE)
(％)

(％)

15

8
10.5

6

7.8

10

5.5

4.8
3.4

5

5.3

5.9

5.0

4

4.1
2.4

2

0

0
3/20

3/21

3/22

3/23

3/24

3/20

3/21

3/22

3/23

3/24

5

Financial data

Efficiency Indicators
3/20
Inventory turnover (Times)

3/21

*1

Total assets turnover (Times)*1

Inventory turnover (Times) = Net sales/Average inventories*2

Total assets turnover (Times) = Net sales/Average total assets*3

Inventory turnover (Days) = 365/Inventories turnover(Times)(Times)

10

2.5
10.8

10.6

10.1

9.6

9.2

3/24

10.6

10.1

9.6

9.2

1.6

1.5

1.3

1.3

1.4

33.8

34.5

36.1

38.0

39.7

Inventory turnover

Total assets turnover

Inventory turnover

3/23

10.8
*2

Inventory turnover (Days) *3

3/22(Days)

50

1.6

1.5

1.3

1.5

1.4

1.3

40

34.5

36.1

38.0

39.7

33.8

3/20

3/21

3/22

3/23

3/24

30

5

20

0.5

10
0
3/20

3/21

3/22

3/23

3/24

(0.5)
3/20

3/21

3/22

3/23

3/24

0

Cash Flows(¥ million)

3/20

3/21

3/22

3/23

3/24

Cash flows from operating activities

65,46482,51833,387

11,331

86,586

Cash flows from investing activities(36,728)(57,827)(22,837)(63,677)(39,224)

28,736

24,691

10,550(52,364)

47,362

Cash flows from financing activities(3,077)(14,934)(12,162)

28,417(53,189)

Cash and cash equivalents at end of the year

72,39983,83185,37464,986

65,465

Free cash flow

*4

*4

Free cash flow = Net cash from operating activities + Net cash from investing activities

Cash flows from operating activities

Cash flows from investing activities

86,58682,51865,46450,000(22,837)(40,000) (36,728)

33,387
11,331(60,000)

0
3/21

3/22

3/23

3/24

(57,827)(63,677)
3/20

3/21

3/22

40,00028,736 24,691

3/23

10,550(10,000) (3,077)(50,000)(52,364)(100,000)
3/24

28,41747,362

0(39,224)(80,000)
3/20(¥ million)

100,0000(20,000)

50,000Cash flows from financing activities(¥ million)(¥ million)(¥ million)

100,000

Free cash flow

3/20

3/21

3/22

3/23

(14,934)(12,162)(60,000)
3/24(53,189)
3/20

3/21

3/22

3/23

3/24

6

Financial data

R&D, Capital Expenditures, Depreciation and Amortization
3/20(¥ million)

3/21

3/22

3/23

3/24

R&D expenditures

3,195

3,268

3,206

3,339

3,155

Capital expenditures

35,75967,161

57,537

59,124

44,157

Depreciation and amortization

23,961

21,67923,62325,472

26,686(¥ million)(¥ million)(¥ million)

4,000

Depreciation and amortization

Capital expenditures

R&D expenditures
3,195 3,268 3,206 3,339 3,155

3,000

60,0002,000

40,0001,000

20,000

0
3/20

3/21

3/22

3/23

67,16180,000

3/24

30,00057,537 59,124

35,75944,15723,961 21,679 23,623

25,472 26,686

20,00010,000

0

3/20

3/21

3/22

3/23

0

3/24

3/20

3/21

3/22

3/23

3/24

Other Data
3/20
Number of employees (consolidated)

3/21

3/22

3/23

3/24

17,33917,16816,192

16,064

15,42912,791

12,222

11,457

10,986

10,483

90.0

94.0

102.0

110.0

119.0

48.2

29.6

21.7

67.7

43.5

High (¥)

4,940

5,100

5,100

4,370

5,449

Low (¥)

2,900

3,220

3,220

3,490

3,765

Average number of temporary employees
Dividend per share (¥)*1

Payout ratio (consolidated) (%)
Stock price*1

Cash dividends represent the actual payment prior to the relevant share consolidation.

Number of employees (consolidated)
20,00017,339Dividend per share(¥)

17,168 16,192 16,064

150
15,42915,000

100

90.0

94.0

3/20

3/21

102.0

110.0

3/22

3/23

119.0

10,000
50

5,000
0
3/20

3/21

3/22

3/23

3/24

0
3/24

7

Financial data

Segment Information
By Operating Segment
Processed Foods
Business Division

Fresh MeatsBusiness Division

Overseas
Business Division

OthersConsolidated(before adjustment
for discontinued
operations)

Transfer todiscontinued
operations

Consolidated(after adjustment
for discontinued
operations)

Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit (loss)
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit (loss)
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit (loss)
AssetsDepreciation and amortization
Capital expenditures
Net sales(1) External customers(2) Intersegment
Segment expenses
Segment profit
AssetsDepreciation and amortization
Capital expenditures(¥ million)
3/20
498,781473,953
24,828
485,413
13,368
293,662
11,16816,995685,630
612,545
73,085653,597
32,033342,144
7,752
11,735
254,649
129,374
125,275
252,799
1,850
115,226
3,115
6,032
16,553
13,2883,265
15,992561
29,377269
1,092
1,229,826
1,229,826
ー
1,186,054
43,772
768,861
33,03847,802
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー

3/21
489,362
463,526
25,836471,385
17,977308,769
11,72026,032656,668
591,576
65,092
615,425
41,243341,364
8,012
15,966
223,649
112,155
111,494
223,753(104)
123,427
3,126
4,955
11,758
8,581
3,177
13,536(1,778)27,535258
19,181
1,176,101
1,176,101
ー
1,123,675
52,426825,405
33,93982,902
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー

3/22
496,700
469,953
26,747
482,021
14,679271,700
12,666
11,038683,301
621,531
61,770585,958
35,573364,830
8,705
17,083
267,623
142,799
124,824265,2142,409
159,0293,482
3,321
13,80910,631
3,178
15,378(1,569)50,421276
21,806
1,246,442
1,246,442
ー
1,198,326
48,116909,21336,37980,395(94,556)(94,556)
ー(92,662)(1,894)ー(1,724)(1,121)
1,151,886
1,151,886
ー
1,105,664
46,222909,21334,65579,274

3/23
417,738
390,397
27,341
412,720
5,018
278,588
12,234
10,730750,109685,332
64,777721,027
29,082410,977
9,157
19,273
321,429
186,449
134,980
326,465(5,036)
162,728
4,076
4,000
17,052
13,8183,234
17,535(483)
75,469709
20,6191,289,995
1,289,995
ー
1,264,399
25,596
937,155
38,37967,519(30,203)(30,203)ー(32,798)
2,595
ー
(664)
(360)
1,259,792
1,259,792
ー
1,231,601
28,191
937,155
37,715
67,1593/24
431,233
402,029
29,204
421,503
9,730
281,634
12,3899,793
780,596
719,861
60,735746,570
34,026
422,583
9,013
25,896289,964
167,985
121,979
287,504
2,460
168,887
3,720
7,199
23,866
20,664
3,202
21,9461,920
75,7442,202
777
1,314,055
1,314,055
ー
1,269,116
44,939958,237
39,66160,939(10,623)(10,623)ー(11,581)
958
ー
ー
(90)
1,303,432
1,303,432
ー
1,257,535
45,897958,237
39,66160,849Notes:
1. Depreciation and amortization consist of depreciation of property,
plant and equipment and amortization of intangible assets.
2. Capital expenditures represent the additions to property,
plant and equipment and intangible assets.
3. Since the fiscal year ended March 31, 2020, the new “segment profit”
has been calculated by deducting the cost of goods sold and selling,
general and administrative expenses from net sales, and accounting forforeign exchage gains and losses determined by the Group, while
excluding adjustments in accordance with IFRS and non-recurring items.
Since the fiscal year ended March 31, 2018, “segment profit”
has been presented by applying the new calculation method from theviewpoint of the comparability with the fiscal year ended March 31, 2020.
4. The consolidated figures were calculated by deducting eliminations,adjustments and others from the results for each business division.
5. From the first quarter of the fiscal year ending March 2022,
the Company has classified the team business and new business into
“Other” for the purpose of expanding into new business areas.
In addition, from the first quarter of the fiscal year ending March 2022,
we have changed the method of calculating sales in order to more
appropriately reflect the performance of the reporting segment.
Regarding this change, the figures before the previous fiscal year
have been retroactively revised. However, the figures before
the fiscal year ended March 2020 have not been audited.
6. Net sales and profits (losses), etc., and capital expenditure for the seafood businessof The Marine Foods Corporation and its subsidiaries, etc., which are included in the
results for Processed Foods Business Division, have been reallocated as part of
the transfer of The Marine Foods Corporation to the discontinued business category.
This discontinued business is included in the results for Processed Foods Business
Division as the reporting segment. However, the results for the fiscal year ended
March 2021 and earlier years have not been adjusted retrospectively.
7. Net sales and profits (losses), etc., and capital expenditure relating to Breeders & Packers Uruguay
S.A., which is included in our overseas business operations, have been transferred to discontinued
operations. Discontinued operations are included in the Overseas Business Division reporting
segment.
However, the results for the fiscal year ended March 31, 2021 and earlier years have not beenadjusted retrospectively.

8

Financial data

By Geographical Area(¥ million)

3/20
Asia & Europe

Americas

Australia

Notes:Net sales

3/21

3/22

3/23

3/24

73,89856,42364,771

66,37655,823(1) External customers

25,86923,32426,301

32,466

31,256(2) Intersegment

48,02933,09938,47033,91024,567

Segment profit (loss)

809

(818)

(428)

(1,180)1,525

84,54788,050100,486

123,759

126,717(1) External customers

21,757

20,28825,61434,33437,242(2) Intersegment

62,79067,76274,87289,42589,475

Segment profit (loss)

698

2,722

1,198

1,731

2,391

98,82680,947105,193

133,677

108,572(1) External customers

81,74968,54390,884

119,649

99,487(2) Intersegment

17,077

12,40414,30914,0289,085

Segment profit (loss)

1,466(1,048)2,585(4,473)(518)

Net sales

Net sales

1. The total of each area is not equal to the Overseas Business Division total, by reason of the elimination of intersegment transactions.
2. The Americas includes North and South American businesses.
3. Breeders & Packers Uruguay S.A. is included in Australia.

Net Sales by Product3/20
Category
Hams and sausages

130,982(¥ million)

3/21
132,425

3/22
131,147

3/23
130,1613/24

1,500,000

135,150

Processed foods

228,833

223,585

224,976

235,166

237,870

Fresh meats

711,753

672,880

702,160

791,972

826,710

Beef

296,913

256,999273,225

312,372

323,288

Pork

226,612229,450

230,762251,001

265,390

Chicken

166,032

166,222

179,549

209,570

218,921

Other fresh meats

22,196

20,20918,62419,02919,111

Dairy products

33,61431,96735,21436,19438,963

Others124,644

115,244

58,38966,29964,739Total

1,229,826

1,176,101

1,151,886

1,259,792

1,303,432

Notes:Net Sales by Product Category(¥ million)
1,229,826

1,250,000

1,176,101

1,259,792

1,303,432

1,151,886

1,000,000
750,000
500,000
250,000
0

3/20

Hams and sausages

3/21
Processed foods

3/22
Fresh meats

3/23
Dairy products

3/24
Others

4. Net sales for the fiscal year ended March 31, 2022 exclude the results for the seafood business of The Marine Foods Corporation and its subsidiaries, etc.
5. Net sales for the fiscal years ended March 31, 2022 through March 31, 2024 exclude beef business results relating to Breeders & Packers Uruguay S.A.

9

Financial data

Consolidated Financial Statements (IFRS)
Consolidated Statements of Financial Position(¥ million)
3/20

3/21

3/22

3/23

3/24

AssetsCurrent assets
Cash and cash equivalents
Trade and other receivables
Inventories
Biological assets
Other financial assets
Other current assets
Assets held for sale
Total current assets
Non-current assets
Property, plant and equipment
Right-of-use assets
Biological assets
Intangible assets and goodwill
Investments accounted for using the equity method
Other financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets

72,399130,213
114,520
21,335
11,7015,583
ー
355,751

83,831
127,067
107,906
23,581
15,0828,561
ー366,028

85,374136,017
119,980
32,75524,64815,096436
414,306

64,986146,660
141,930
27,984
9,098
25,171
12,189428,018

65,465
165,022
141,429
25,4205,711
20,31865423,430

284,060
35,545
1,883
8,953
13,91032,64729,745
6,367
413,110
768,861

325,629
38,362
1,314
10,6089,011
35,796
26,056
12,601
459,377
825,405

345,02246,0901,240
15,26912,41035,232
26,27913,365494,907909,213364,381
40,8981,517
20,193
9,087
27,58731,082
14,392
509,137
937,155

375,21144,814
1,531
25,822
9,835
30,01928,072
19,503534,807958,237

55,92499,802
3,178
18,87735,966
ー
213,747

59,322
98,983
9,748
25,29035,822
ー
229,165

90,056
103,7196,494
42,056
39,594
ー
281,919

102,199
106,027
1,795
15,806
41,35011,359278,536

59,247116,773
7,143
14,964
48,705ー
246,832

120,569
14,920
719
732
1,577
138,517352,264

134,428
14,543
683
581
1,696
151,931
381,096

121,351
12,951
754
1,045
1,639
137,740
419,659

139,856
12,394
1,108
889
1,591
155,838
434,374

155,605
12,491
1,184
874
2,049
172,203
419,035

36,294
72,639294,018
(173)
1,636
ー
404,414
12,183
416,597
768,861

36,294
71,240320,577(3,532)
9,016
ー
433,595
10,714444,309825,405

36,294
71,272360,900(2,856)
13,459ー
479,069
10,485489,554909,213

36,29471,095369,389(2,057)
17,193
999
492,913
9,868
502,781
937,155

36,294
71,110390,305(1,403)31,197
ー
527,503
11,699539,202958,237

Liabilities and equity
Current liabilities
Interest-bearing liabilities
Trade and other payables
Income taxes payable
Other financial liabilities
Other current liabilities
Liabilities that relate directly to assets held for sale
Total current liabilities
Non-current liabilities
Interest-bearing liabilities
Retirement benefit liabilities
Other financial liabilities
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityCommon stock
Capital surplus
Retained earnings
Treasury stock, at cost
Accumulated other comprehensive income
Accumulated other comprehensive income relating to the disposal
Total equity attributable to owners of the parent
Non-controlling Interests
Total equity
Total liabilities and equity

10Financial data

Consolidated Statements of Income(¥ million)

3/20

3/21

3/22

3/23

3/24

Net sales

1,229,826

1,176,101

1,151,886

1,259,792

1,303,432

Cost of goods sold1,024,296

964,367

952,971

1,082,760

1,099,801

166,030

161,215

156,552

166,080

172,074

Other income

3,592

8,497

10,62019,09820,685

Other expenses

14,79011,9568,512

12,191

12,010Financal income

1,285

1,942

2,200

3,360

3,219

Financal costs

3,903

1,534

3,935

1,830

2,979

Share of profit in investments accounted for using the equity method

1,355

1,406

9,024

2,773

127

Profit before tax

27,03948,874

51,76022,16240,599

Income tax expense

8,106

17,816

12,955

4,770

11,253

Profit18,93331,05847,647

15,97629,44819,21432,61648,04916,63728,078(281)(1,558)

(402)

(661)

1,370

18,93331,05847,647

15,97629,448Selling, general and administrative expenses

Profit attributable to:
Owners of the parent
Non-controlling interests
Profit11

Financial data

Consolidated Statements of Cash Flows
3/20

3/21

3/22

Operating activities
Profit before tax
27,03948,874
51,760ーー
Net profit (loss) for the period from discontinued operations before income taxes, etc.
12,745
Depreciation and amortization expenses
33,336
34,10936,464
3,904
7,069
2,395
Impairment losses (reversal of impairment losses)
Decrease (increase) in fair value of biological assets
1,205
(192)
44
Financal income and costs
2,618
(408)
2,826
ー
ー
Gains (losses) on sales of business operations(12,037)
Decrease (increase) in trade and other receivables
21,9683,817(8,157)
Decrease (increase) in inventories(2,316)
7,722(22,655)
Decrease (increase) in biological assets
1,005
113
(9,187)
Decrease (increase) in other assets
555(8,815)(7,455)
Increase (decrease) in trade and other payables(10,964)(1,252)
8,552
Increase (decrease) in other liabilities(3,772)(507)
4,737
Others - net(1,143)648(8,537)
Interest received
675
287
355
Dividends received
2,304
2,735
3,779
Interest paid
(1,611)(1,339)(1,197)
Income tax paid
(9,339)(10,343)(21,045)
Cash flows from operating activities
65,46482,51833,387
Investing activities
Acquisition of fixes assests(36,898)(59,398)(44,473)
Proceeds from sales of fixed assets
607
1,423
728
Decrease (increase) in time deposits
(610)
259
4,024
Acquisiton of other financial assets
(84)
(182)
(130)
Sales and redemption of other financial assets
42
673
929
ー
ー
ー
Increase in short-term lendingーーー
Proceeds from government grantsーー
Income from sales of business operations
16,628ーーー
Expenditure resulting from business salesーー
Investments in associated companies(120)
Others - net
335
(602)
(543)
Cash flows from investing activities(36,728)(57,827)(22,837)
Financing activities
Cash dividends(9,271)(9,269)(9,610)
Increase (decrease) in short-term bank loans(2,001)(4,840)17,065
Proceeds from debt
38,71470,393
27,462
Repayments of debt
(39,019)(66,351)(47,490)
ーContributions from non-controlling interests
8,563
2
ー
Acquisitions from non-controlling interests(1,489)(191)
Acquisition of treasury stock(4)(3,567)(2)
ーSale of treasury stock
187
604
Others - net(59)00Cash flows from financing activities(3,077)(14,934)(12,162)
Effect of exchange rate changes on cash and cash equivalents(1,368)
1,675
3,155
ー
ー
ー
Hyper-inflation adjustmentsーーー
Increase (decrease) in cash and cash equivalents included in assets held for sale
Net increase (decrease) in cash and cash equivalents
24,291
11,432
1,543
Cash and cash equivalents at beginning of the year
48,10872,39983,831
Cash and cash equivalents at end of the year
72,39983,83185,374
Note: Since the fiscal year ended March 2024, proceeds from government grants, which were previously included in “Others—net” under cash flows from financing activities,
have been disclosed as a separate item. The figures for the fiscal year ended March 2024 have therefore been adjusted retroactively.

3/23(¥ million)
3/24

22,162(5,485)38,4331,840
1,027(1,381)
460(12,879)(24,451)
2,651(3,379)5,913
2,514(8,578)1,632
6,221(1,811)(13,558)
11,331

40,599223
39,719
1,481
3,121
(109)
(1,132)(17,559)
2,551
190(1,930)
9,953
8,261
3,230
2,818
1,305
(2,107)(4,028)86,586(82,261)
2,095
1,152
(64)
4,645
9,994
951
3,579
(3,166)
ー(602)(63,677)(48,479)
1,697
5,126
(61)
2,665
ー
2,525
ー
(1,345)ー(1,352)(39,224)(10,448)
36,504
110,358(108,594)
ー
ー
(2)
599
0
28,417
2,476
1,874
(809)
(20,388)
85,37464,986(11,325)(30,798)
51,230(62,898)
ー
ー
(6)
608
ー
(53,189)
3,996
1,501
809
479
64,986
65,46512

Financial data

Stock Information
Share Data

Distribution of Shares

Authorized shares

285,000,000

Issued and outstanding

102,958,904■ Financial institutions

55,580Shareholders

Shareholders by

Major Shareholders (Leading 10 by holding)Holding

Name of shareholder(1,000s of shares)

Category

Shareholding ratio(％)■ Foreign investors■ Individual / Others■ Other companies■ Securities firms■ Treasury stock

80 (55,494 thousand shares)
382 (24,077 thousand shares)
54,594 (17,197 thousand shares)
490 (2,139 thousand shares)
33 (4,038 thousand shares)
1 (10 thousand shares)

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

20,82520.23%

Custody Bank of Japan, Ltd. (Trust account)

9,356

9.09%

The Hyakujushi Bank, Ltd.

3,708

3.60%

Meiji Yasuda Life Insurance Company

3,677

3.57%

Nippon Life Insurance Company

2,785

2.71%

■ Less than 100

3,372 (52 thousand shares)

STATE STREET BANK AND TRUST COMPANY 505001

2,416

2.35%

■ 100–Less than 1,000

49,144 (10,918 thousand shares)

The Norinchukin Bank

2,370

2.30%

Shareholders by■ 1,000–Less than 10,000

2,775 (4,818 thousand shares)

holding■ 10,000–Less than 100,000

203 (6,540 thousand shares)

JPMorgan Securities Japan Co., Ltd.

2,072

2.01%

SSBTC CLIENT OMNIBUS ACCOUNT

1,828

1.78%

■ 100,000–Less than 500,000

56 (12,004 thousand shares)

MUFG Bank, Ltd

1,653

1.61%

■ More than 500,000

30 (68,623 thousand shares)

Note: Shareholding ratio is calculated by deducting the number of treasury stock.

Stock Price Trend
Stock price (¥)

6,000
5,000
4,000
3,000

Trading volume

2,000

4,000,000
3,000,000
2,000,000
1,000,000

2023/3

4

5

6

7

8

9

10

11

12

2024/1

2

3

0

13

Non-financial data

As of July 31, 2024

Environmental Report

Scope of Data (as of March 31st, 2024)

②

③

④

⑤

③

④

⑤

Japan

Overseas①②Companywide

Japan

Production and Livestock 4 production departments of Nippon Clean Farm Ltd./ 4 production departments of Nippon White
Breeding Facilities andFarm Co., Ltd./ Nippon White Farm Niigata Co., Ltd./ Miyazaki Environmental Preservation
Feedlots
Cooperative/ Junsui Kurobuta Shuton Nojo Y.K.

●●

Meat preparation andprocessing plants

5 plants of Nippon White Farm Co., Ltd./ 6 plants of Nippon Food Packer, Inc./ Nippon Food
Packer Tsugaru, Co., Ltd./ Miyazaki Beef Center Co., Ltd./ Nippon White Farm Niigata Co., Ltd.

●

●

●

Ham and Sausage
Production

5 factories of Nipponham Factory Ltd./ Nipponham Northeast Ltd./ 3 factories of Nipponham
Hokkaido Factory Ltd./ Nipponham Southwest Ltd./ Kamakura Ham Tomioka Co., Ltd./ Kyodo
Foods Co., Ltd.

●

●

●

Processed Food
Production

1 plant of NH Foods Ltd./ 3 plants of Nipponham Processed Foods Ltd./ 3 plants of Nipponham
Delicatessen Ltd./ 7 plants of Nippon Pure Food, Inc./ 2 plants of Hoko Co., Ltd./ Minami Nippon
Fresh Foods Co., Ltd./ 2 plants of Premium Kitchen Co., Ltd.

●

●

●

Marine and Dairy Product2 plants of Nippon Luna, Inc./ 3 plants of Hoko Co., Ltd.
Production

●

●

●

NH Foods Ltd./ NH Foods Marketing Ltd./ Nippon Route Service. Inc/ Nippon Daily Net Co., Ltd./
Nipponham Frozen Foods Sales Ltd./ Nipponham Customer Communication Co., Ltd./ Nippon
Sales Offices, Distribution
Logistics Center, Inc./ Nippon Chilled Logistics, Inc./ Japan Food Corporation/ NH Japan Food
Centers, Headquarters,Ltd./ Higashi Nippon Food, Inc./ Kanto Nippon Food, Inc./ Naka Nippon Food, Inc./ Nishi Nippon
Branches, Offices andFood, Inc./ Nippon Pure Food, Inc./ Hoko Co., Ltd./ Hokkaido Nippon-Ham Fighters BaseballResearch Institutes
Club Co., Ltd./ Nippon Luna, Inc./ Minami Nippon Fresh Foods Co., Ltd./ Nipponham Hokkaido
Factory Ltd./ Usune Co., Ltd./ Fighters Sports & Entertainment Co., Ltd.

●●

Subject(product factories)

Overseas(product factories)

Business sites in Japan
Business sites overseas

Production and breeding
facilities, farms

3 production departments of Whyalla Beef/ Ege-Tav Ege Tarım Hayvancılık Yatırım Ticaret ve
Sanayi Anonim Şirketi●●

Meat preparation andprocessing plants

Oakey Beef Exports Pty. Ltd./ Thomas Borthwick & Sons (Australia) Pty. Ltd./ 2 plants ofWingham Beef Exports Pty. Ltd./ Breeders & Packers Uruguay S.A./ Ege-Tav Ege Tarım
Hayvancılık Yatırım Ticaret ve Sanayi Anonim Şirketi

●

●

●

Manufacture and sale offresh meats andprocessed foods

Shandong Rilong Foodstuffs Co., Ltd./ Pure Food Asia, Inc./ 2 factories of Thai Nippon Foods
Co., Ltd./ 2 factories of NH Foods Vietnam Joint Stock Company/ NH Foods Diamond Indonesia/
Day-Lee Foods, Inc./ Redondo's, LLC

●

●

●

Food marketing, trading
companies

Nippo Food Co., Ltd./ NH Foods Taiwan Ltd./ NH Foods (Thailand) Ltd./ NH Foods Singapore
Pte. Ltd./ NH Foods Australia Pty. Ltd./ Beef Producers Australia Pty. Ltd./ NH Foods U.K. Ltd./NH Foods Chile Y Compania Limitada/ NH Foods Mexicana S.A.DE C.V./ Day-Lee Foods, Inc./
Japan Food Corporation Korea Branch

●

●

15

Environmental Report

Calculation Method■ Greenhouse gas emissions about Scope 1 and Scope 2 are calculated by using factors in "Act on Promotion of Global Warming Countermeasures" in Japan↳ Location base is calculated by the alternative value which is annual electric power company's emission factors (above the law)
↳ Market base is calculated by each annual electric power company's emission factors (above the law)Overseas sites: Primarily use laws and regulations or guideliness of the country or region where each company or office is located. If these are unkown,use coefficients of the "Act on Promotion of Global Warming Countermeasures" in Japan.

↳ If the location base is unknown, use the Emissions Factors provided by the IEA.
There are not applicable of Perfluorocarbons ,Sulphur hexafluoride and Nitrogen trifluoride. Also, Hydrofluorocarbons aren't calculation in scope■ Scope 3 is calculated which is based on our scenario by category, which referred to "Basic Guidelines On Accounting for Greenhouse Gas Emissions
throughout the Supply Chain (in Japan)". The emission unit of calculation is used or referred to below-"Act on Promotion of Global Warming Countermeasures" in Japan about each year-"Database of Emissions Unit Values on the Same Accounting for Greenhouse Gas Emissions throughout the Supply Chain" in Japan■ Energy consumption about Scope 1 and Scope 2 is calculated as follows:
Japan: Use coefficients, etc., defined by the "Act of Promotion of Global Warming Countermeasures" and the "Act on the Rational Use of Energy" in Japan
Overseas: Primarily use laws and regulations or guideliness of the country or region where each company or office is located. If these are unkown, use coefficients of
the "Act on the Rational Use of Energy" in Japan■ The waste recycling rate and recycling rate were calculated as follows.
Waste recycling rate: (Valuable materials sold + Recycled waste)/Waste generation × 100 (Unit: %)Recycling rate: (Waste recycled in-house + Valuable materials sold + Recycled waste)/(Waste generation - in-house reductions) × 100 (Unit: %)Third-Party Verification
Items with a ☑ mark are subject to third-party verification under the ISAE3000 by SGS Japan Inc.
Scope of verification
GHG emissions in Japan: Scope 1, Scope 2, Scope 3 Overseas GHG emissions: Scope 1, Scope 2
Energy use in Japan: Scope 1, Scope 2 Overseas energy use: Scope 1, Scope 2
Water use in Japan: Water withdrawal and Water consumption
Overseas water use: Water withdrawal and Water consumption

16

Environmental Report

Environmental Targets
As part of its three-year medium-term management plans, the NH Foods Group has formulated environmental targets aimed at reducing the environmental impact of its
business activities. In April 2021, the Group formulated Vision2030 and identified, while also setting medium- to long-term environmental targets for 2030.
We are helping to realize a sustainable society through our efforts to reduce environmental loads, and through our continuing commitment to effective resource utilization.
In fiscal 2022, we set environmental targets for 2030 based on our medium- to long-term environmental targets for Japan.
Going forward, we will work to promote efforts to achieve a sustainable society from a more global perspective.

Results of Medium- to Long-Term Environmental Targets in Japan
Targets

Unit

Baseline

2030 target

FY2023 results

Reduce fossil fuel-derived CO2 emissions(Reduce by more than 46% compared with FY2013
levels)t-CO2

550,518

297,279

433,167

Waste discharge (per production unit)(Reduce by 5% compard with FY2019 level)

kg/t

134.6

127.9

121.8

Waste recycling rate
(At least 92% by 2030)

％

84.1

92.0

92.2

Waste consumption (per production unit)(Reduce by 5% compared with FY2019 level)

m3/t

15.2

14.4

15.0

Progress
Reduction (change from the baseline）：▲117,351
Reduction (compared with the baseline)：▲21.3%
Reduction (change from the baseline)：▲12.8
Reduction (compared with the baseline)：▲9.5%
ー
Reduction (change from the baseline)：▲0.2
Reduction (compared with the baseline)：▲0.7%* Coverage of the Plan: Reduction of fossil fuel-derived CO 2 emissions, Waste recycling rate・・・②, Waste discharges and water consumption・・・③* CO2 emissions and thermal energy were calculated using the factors stipulated each year under the "Act on Promotion of Global Warming"* Intensity units are based on production quantities by manufacturing factory* The baseline for the waste recycling rate is 84.1% (FY2019 result). The formula is shown in the “Calculation method” section on p.16

Medium- to Long-Term Environmental Targets Overseas
Targets

Unit

Baseline

2030 target

FY2023 results

Reduce fossil fuel-derived CO2 emissions(Reduce by more than 24% compared with FY2021
levels)t-CO2

143,340

108,938

131,274

Waste consumption (per production unit)(Reduce by 5% compared with FY2021 level)

m3/t

14.7

Progress
Reduction (change from the baseline)：▲12,066
Reduction (compared with the baseline)：▲8.4%

14.1

14.3

Reduction (change from the baseline)：▲0.4
Reduction (compared with the baseline）：▲2.4%* Target base year: For overseas operations, based on FY2021 results, with reduction targets set as equal to yearly reduction targets in Japan
Coverage of the Plan: Reduction of fossil fuel-derived CO 2 emissions・・・④, Water consumption・・・⑤* CO2 emissions are mainly calculated using methods defined by the country or region where a company is located.
If this is unknown, the IEA Emissions Factors and the coefficients of the "Act on Promotion of Global Warming Countermeasures" in Japan are used.

* Intensity units are based on production quantities by manufacturing factory

17

Environmental Report

Results of Medium-Term Management Plan 2020
The Medium-Term Management Plan 2020, which launched on April 1, 2018, sets environmental targets based on average values
for the period from fiscal 2012 to fiscal 2016. The plan achieved the following results.
Baseline(average FY2012-2016)

Initiatives

Mitigation of climate change

Resource saving

CO2 emissions intensity

701.1 kg-CO2/t

Thermal energy intensity

12.0 GJ/t

Water consumption intensity*1

Waste generation intensity*2
Promotion of recycling

Waste recycling rate

17.7 m3/t

Targets(average FY2018-2020)

Results (average FY2018-2020)(compared to baseline)

8.0% Reduction

10.0% Reduction(645.1 kg-CO2/t)(631.0 kg-CO2/t)

8.0% Reduction

3.3% Reduction(11.0 GJ/t)(11.6 GJ/t)

3.0% Reduction

4.5% Increase3(17.2 m /t)(18.5 m3 /t)

6.0% Reduction

14.3% Increase*3(195.1 kg/t)(237.1 kg/t)

94.0% Over

88.9%

207.5 kg/t
90.8%

＊

CO2 emissions and thermal energy calculated by using factors in "Act on Promotion of Global Warming Countermeasures" in Japan about each year＊

Coverage of the Plan: ①＊

Primary unit of each intensity is per unit of product＊

Reduction rate in target value is reduction rate from Baseline＊

The formula for the waste recycling rate is shown in the “Calculation method” section on p.16

*1

Water consumption and discharged includes some estimated values from production departments*2

Excluding farm excreta*3

Excluding the waste from Typhoon Jebi and the Hokkaido Eastern Iburi earthquake in the FY201818

Environmental Report

Mitigation of Global Warming
Greenhouse Gas Emissions from NH Foods Group and Its Entire Supply Chain■Greenhouse Gas Emissions
Scope☑
Business scope

Scope 2 pattern

Japan

ー

215

220

222

213

203

Overseas

ー

ー

ー

52

55

53

Methane (thousand t-CO2)※1

Company-wide

ー

31

28

116

134

122

Nitrous oxide (thousand t-CO2)※1

Company-wide

ー

102

101

102

99

52

Location base

290

276

267

246

243

Market base

269

257

260

236

232

Overseas

Location base

ー

ー

92

86

78

638

625

851

833

751

11,134

10,576

10,503

10,258

10,475Items
CO2 (thousand t-CO2)

Scope 1

Scope 2CO2 (thousand t-CO2)

Japan

Total

CO2 (thousand t-CO2)

Company-wide

Location base

Scope 3CO2 (thousand t-CO2)

Japan

ー

＊ Coverage of data: Scope 1, Scope 2・・・①, Scope 3・・・②※1■Breakdown of Scope 3 Categories (FY2023 Results in Japan)
Category
1 Purchased goods and services※1

FY2019CO2

FY2020

FY2021

FY2022

FY2023Calculations are based only on enteric fermentation and manure management of livestock☑

Composition
ratio (%)
8,953
85.5

10 Processing of sold products※3

Composition
ratio (%)
207
2.0

Category（thousand t-CO2)

CO2（thousand t-CO2)

115

1.6

11 Use of sold products※4

146

1.4

3 (not included in scope 1 or scope 2)

78

0.7

12 End-of-Life treatment of sold products ※5

138

1.3

4 Upstream transportation and distribution

782

7.5

13 Downstream leased assets--

5 Waste generated in operations

44

0.4

14 Franchises--

6 Business travel3

0.0

15 Investments

7 Employee commuting

10

0.1

8 Upstream leased assets--

9 Downstream transportation and distribution--

2 Capital goods
Fuel and energy related activities※1 Raw materials and supplies related to the product※3 Product for businesses heating and cooking

Total＊ Coverage of data: ②--

10,475100※2 Transportation of raw materials and supplies related to the product and transportation of products for which costs are borne※4 Cooking commercial products※5 Disposal of food waste and product packaging

19

Environmental Report

Environmental Data by Business■Greenhouse Gas（thousand t-CO2）
FY2019Items
Production and Livestock Breeding Facilities and Feedlots

Fresh Meat Processing and Plants

Ham and Sausage Production

Japan

Processed Food Production

Marine and Dairy Product Production

Sales Offices, Distribution Centers, Headquarters,
Branches, Offices and Research Institutes
VehiclesSubtotal

Overseas

Total

Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal
Scope 1
Scope 2
Subtotal

FY2020

FY2021

FY2022

FY2023

183
39
222

182
37
219

179
35
215

174
35
209

113
39
152

25
35
61

27
34
60

27
33
60

27
31
58

27
31
58

36
52
88

37
49
86

36
48
84

34
45
79

32
43
75

65
99
164

67
94
161

69
92
161

65
80
145

55
71
126

8
18
26

8
17
25

8
16
24

8
16
24

7
10
17

1
47
48
28

1
45
46
28

1
44
45
28

2
39
41
26

6
38
44
26

348
290
638
ー
ー
ー

349
276
625
ー
ー
ー

348
267
615

336
246
582

266
232
498

144
92
235

165
86
251

164
78
242

348
290
638

349
276
625

492
359
851

501
332
833

430
310
740

＊ Coverage of data: ①

20

Environmental Report

Resource Saving Initiatives
Consumption of Energy■Transition of Energy Consumption
Items
Gasoline
Kerosene
Light oil
Heavy fuel oil A
Fuel (TJ)
Liquefied petroleum gas / LPG
Liquefied natural gas / LNG
Town gasJapan
Biomass
Total Fuel
Steam, cold water, hot water purchased (TJ)
Electricity purchased (TJ)
Of which, renewable energy (TJ)
Subtotal (TJ)
Of which, renewable energy (TJ)
Gasoline
Kerosene
Light oil
Heavy fuel oil
Coal
Fuel (TJ)
Liquefied petroleum gas / LPG
Natural gas
Overseas
Town gas
Biomass
Total Fuel
Steam, cold water, hot water purchased (TJ)
Electricity purchased (TJ)
Subtotal (TJ)
Of which, renewable energy (TJ)
Total（TJ）
Total
Of which, renewable energy (TJ)
＊ Coverage of data: ①

FY2019
46
570
371
867
392
281
996
ー
3,523
20
5,768
ー
9,311
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
9,311
ー

FY2020
37
591
372
852
420
302
1,034
ー
3,608
20
5,708
1
9,336
1
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
ー
9,336
1

FY2021
35
588
379
775
455
315
1,111
59
3,717
21
5,727
1
9,465
60
9
0
86
29
343
48
190
6
288
999
44
600
1,643
288
11,108348

FY2022
30
582
351
688
401
274
1,202
61※1
3,554
22
5,450
14
9,012
75※1
9
0
85
19
371
91
157
6
300
1,038
81
564
1,683
300※1
10,695375※1

FY2023
31
550
355
552
335
209
1,300
56
3,388
22
5,407
28
8,817
85
14
0
89
0
360
87
158
6
237
950
66
468
1,484
237
10,301322※1 Figures revised from the data book 2023

21

Environmental Report

Water Consumption■ Transition of Water withdrawal and Water consumption (By Water Source)
Items
Groundwater☑ Water withdrawal and WaterJapan

Tap water（including industrial water）

3

Sea water

consumption (thousand m )Subtotal
3

Reuse/recycling water (thousand m )Groundwater
Overseas☑ Water withdrawal and Water
consumption (thousand m3)

Surface water
Tap water
Sea water
Subtotal☑ Total water withdrawal and Water consumption＊ Coverage of data: Japan…② Overseas...⑤＊ Water withdrawal and Water consumption figures include estimates from production departments

Items
Discharged treatment water to river etc.
Japan

Discharged (thousand m3)

SewageTotal

FY201910,8683,952
014,82035
ーーーーー
14,820

FY202010,8733,947
014,82039
ーーーーー
14,820

FY2021
10,8813,840
014,721
37
611
564
2,100
13
3,288
18,009FY2022
10,6033,658
014,261
65
1,072
771
2,240
16
4,099
18,360

FY2023
10,0313,766
013,796
69
2,530
2,426
1,883
0
6,839
20,635FY201911,897
1,514
13,411

FY202011,765
1,489
13,254FY2021
12,224
1,512
13,736FY2022
11,373
1,502
12,875

FY2023
10,763
1,606
12,369FY2019
411.3
205.1
373.8
22.7
92.1

FY2020
402.5
208.8
376.9
19.7
94.7

FY2021
397.6
198.7
380.8
9.6
96.9

FY2022
380.2
193.5
364.2
11.0
96.9

FY2023
378.0
188.1
361.4
11.2
96.3

FY201915.5

FY202022.5

FY202124.0

FY202218.1

FY2023
19.3

Waste■Breakdown of Waste Generation (Results in Japan)
Items
Waste generation (thousand t)
In which, waste discharged (thousand t)
Recycling of waste (thousand t)
Final disposal waste (thousand t)
Recycling rate (%)＊ The formula for the recycling rate is shown in the “Calculation method” section on p.16

Items
Hazardous waste generation (thousand t)＊ Coverage of data: ②＊ Excluding the waste from Typhoon Jebi and the Hokkaido Eastern Iburi earthquake in the FY2018＊ Hazardous waste is defined as specially controlled industrial waste

22

Environmental ReportState of Compliance with Environmental Laws and Regulations
The NH Foods Group strives to ensure compliance with laws and regulations at all of its business sites. At farms, factories, and distribution facilities
where environmental loads are especially high, we obtain ISO 14001 certification as the basis for the effective administration of compliance systems. In
addition, the relevant units in NH Foods Ltd. verify operational conditions through internal environmental audits at our business sites, including those
without certification. Steps are taken, including recurrence prevention measures, to address any issues identified through internal audits based on ISO
14001 or internal audits by NH Foods Ltd.
In the unlikely event of an environmental accident, remedial action is implemented in accordance with procedures determined for each business site. We
also submit reports to the relevant agencies and establish structures to prevent recurrences. In addition, the circumstances are reported to theCompliance Department of NH Foods Ltd. in order to share details about the actions taken.
In fiscal 2023, there were no accidents that caused serious environmental impacts at NH Foods Group business sites.
* The meaning of “Serious accident” is as defined in the internal rules of the NH Foods Group.

Items

FY2019FY2020

FY2021

FY2022

FY2023

Number of serious environmental accidents

0

0

0

0

0

Amount of fines (yen)

0

0

0

0

0

＊ Coverage of data: ①

23

Environmental Report

Business Activities and Environmental Impact■Inputs
FY2019Items

FY2020

FY2021

FY2022

FY2023

Livestock feed (thousand t)

660

641

626

626

618

Raw materials for products (thousand t)

245

241

240

215

207

Plastic

7,188

6,495

6,429

6,909

7,179

Fuel (TJ）

3,523

3,608

3,717

3,554

3,388

―

―

59

61※1

56

590

585

589

562

560

―

1

1

4

8

15

15

15

14

14

Of which, renewable energy (TJ)
Electricity (million kWh)
Of which, renewable energy (million kWh)
Water (million m3)＊ Coverage of data: ②＊ Water input includes some estimated values from production departments＊ Quantities of plastic are based on plastic discharge applications in Japan under the Japanese Law for the Promotion of Sorted Collection andRecycling of Containers and Packaging.

※1 Figures revised from the 2022 data book

■Outputs
Items

FY2019FY2020

FY2021

FY2022

FY2023

Quantity of products (fresh meats, processed foods) produced(thousand t)

797

805

810

761

742

Greenhouse gases （thousand t-CO2)

637

625

615

583

509

Nitrous oxides/NOx (t)

507

507

511

518

635

Sulfur oxides/SOx (t)

196

193

176

167

186

Discharged water (million m3)

13

13

14

13

12

Waste (among generated) (thousand t)

411

403

398

380

378

Waste recycling rate (%)

92.1

94.7

96.9

96.6

96.3

＊ Coverage of data: ②＊ Water discharged includes some estimated values from production departments＊ Excluding the waste from Typhoon Jebi and the Hokkaido Eastern Iburi earthquake in the FY2018＊ The formula for the recycling rate is shown in the “Calculation method” section on p.16

24

Environmental Report

Third-Party Verification
NH Foods Group has been subjected to third-party verification about the appropriateness of disclosed data.
■Subjects
・Stakeholder management process
・Greenhouse gas (GHG) emissions (Scope 1, 2*1, and 3)
・Energy consumption
・Water consumption: water intake
・The management systems supporting the reporting*1 Greenhouse gases covered carbon dioxide, methane, and nitrous oxide■Period covered
April 1, 2023 to March 31, 2024

The Scope of each assurance covers the subsidiaries plants,
sales offices, logistics hubs,headquarters, branches, and laboratories.
＊ The information on this page is disclosed on NH Foods Group website.

25

Social Report

Summary of Employees
Status of Employees (NH Foods Ltd.)
Items

FY2019FY2020

FY2021

FY2022

FY2023

2,137

2,149

2,160

2,077

1,977

Male (regular employees )

883

898

891

863

806

Female (regular employees)

322

339

353

375

385

Percentage of female employees (%) (regular employees)

26.7

27.4

28.4

30.3

32.3

Percentage of female managers (%)

4.6

6.5

8.5

9.8

10.7

Number of temporary employees (average)

953

912

916

839

786

Average age

41.6

41.2

41.6

41.7

41.4

Male (age)

43.3

42.9

43.4

43.5

43.1

Female (age)

36.1

36.7

37.1

37.6

37.7

17.6

17.4

17.8

17.7

17.3

Male (years)

19.4

19.3

19.7

19.7

19.3

Female (years)

11.8

12.6

13.0

13.1

13.3

Number of employees

Average duration of employment (years)

54

51

41

53

51

Male

34

35

25

33

29

Female

20

16

16

20

22

17

26

16

19

18

8,422,396

8,395,177

8,575,136

8,465,458

8,223,437

16.0

3.2

4.1

3.8

5.8

1.70
Voluntary retirement rate (%)＊ Based on the number of current employees as of March 31st in each fiscal year
＊ In FY2019, NH Foods Ltd. expanded the optional retirement system as a temporary measure＊ Average age revised in FY2021

1.29

2.09

1.34

2.75

Number of new graduates hired

Mid-career hiring rate of workers (%)
Average salary (yen)Turnover rate (%)

Status of Employees by Region (NH Foods Group)
Items

FY2019FY2020

FY2021

FY2022

FY2023

Domestic

22,53822,61521,32921,068

20,776

Overseas

7,592

6,775

6,320

5,982

5,136

30,13029,39027,64927,05025,912

Group total＊ Based on the number of current employees as of March 31st in each fiscal year
＊ Includes average number of temporary employees

26Social Report

Diversity
Gender Pay Gap (NH Foods Ltd.)
F2019

Items
All workers (%)
Employees (%)*2
Temporary employees (%)*3
Regular employees (%)
Managers (%)
General staff (%)

Statutory disclosure items

Optional disclosure items

FY2020
ー
ー
ー
ー
ー
ー

*1

FY2021
ー
ー
ー
ー
ー
ー

ー
ー
ー
73.5
93.0
86.2

FY2022
58.0
61.0
75.2
68.1
91.7
76.3

FY2023
60.9
63.3
69.8
70.1
96.4
76.3

＊ Gender pay gap: Ratio of female employees’ salaries to male employees’ salaries as defined in the Act on Promotion of Women's Participation and Advancement in the Workplace (average yearly salary forfemales / average yearly salary for males)＊ The gender pay gap is caused not by differences in the amounts paid for identical work, but by differences in the percentages of employees at each seniority level, the percentages of employees limited to
specific locations, years of service, working hours, and other factors＊ The division of regular employees into managers and general staff is an optional disclosure item
＊ The statistics for FY2021 precede the introduction of statutory disclosure in FY2023 and are theoretical figures. For this reason, the calculation method used was different from that for FY2023*1 All workers: Employees and temporary employees*2 Employees: Workers in regular employment and non-regular employees who have worked full-time over long periods*3 Temporary employees: Part-timers and employees on limited-term contracts (excluding dispatched workers)

Condition of Utilizing Child and Nursing Care-Related Systems (NH Foods Ltd.)
Items
1.Before and after childbirth leave (number of leave takers)
2.Spousal childbirth leave (number of leave takers)
3.Number of childcare leave takers
Male
Female4.Rate of employees returning to work (%)
5.Shortened working hours for childcare (number of users)
6.Nursing leave (number of leave takers)

FY2018
42
30
73
5
68
97.0
98
145

FY2019
57
29
96
12
84
98.8
81
139

FY2020

FY2021

39
35
108
18
90
98.5
123
173

FY2022

41
16
115
37
78
100.0
117
165

45
11
121
33
88
100.0
122
199

＊ The lower number of spousal childbirth leave days taken in FY2022 reflects the enhancement of the childcare leave system to allow the first 20 days of leave to be used as special leave■Category Details
Before and after childbirth leave

An employee can take the leave for six weeks before giving birth (or fourteen weeks for a multiple pregnancy) and eight weeks after giving birth.
Since September 16, 2022, employees have been able to take three days of paid leave between one week prior to date on which their spouse is expected to give until the date of birth.

Spousal childbirth leave
Childcare leave

Until September 15, 2022, employees were able to take three days of paid leave between one week before the date on which their spouse was expected to give birth until two weeks after the date ofbirth.
Until the child of an employee reaches the age of one year, or until the child reaches the age of three years if the child cannot enter nursery school or is under special circumstances.
(Employees can take 20 days of special paid leave initially.)

Rate of employees returning to work

(Number of employees returning from childcare leave) / (Number of employees expected to return from childcare leave) ×100

Shortened working hours for childcare

Until an employee's child finishes the six years of elementary school, the employee's scheduled working hours in a day may be shortened by up to two hours.

Nursing leave

12 days per year can be taken as nursing leave when the child of employee in sixth grade of elementary school or lower requires nursing,vaccination, or medical checkup. (Paid leave)27

Social Report

Status of Re-Employment Following Mandatory Retirement (NH Foods Ltd.)
Items

FY2019FY2020

FY2021

FY2022

FY2023

11
8
72.7

3
3
100.0

6
5
83.3

14
14
100.0

17
15
88.2

FY20192.4

FY20202.5

FY2021
2.7

FY2022
2.6

FY2023
2.6

Number of mandatory retirees
Number of re-employed retirees
Re-employment rate (%)＊ Number of re-employed retirees: includes individuals employed at subsidiary following mandatory retirement

Status of Hiring Personnel Disabilities (NH Foods Ltd.)
Items

Employment rate (%)＊ Includes non-regular employees＊ Employment rate is calculated based on Disabled Persons Act＊ In November, 2019, Nipponham Career Consulting Ltd. became a special-purpose subsidiary of NH Foods Ltd.

Human Resources
Percentage of Employees Subject to Periodic Evaluation with Respect to Business Performance and Career
Development (NH Foods Ltd.)
Items
Number of employees under the Management by Objectives (MBO)
Percentage of employees under the MBO (%)

FY20191,528
71.5

FY20201,574
94.7

FY2021
1,513
100.0

FY2022
1,577
100.0

FY2023
1,480
100.0

Freedom of Association and Collective Bargaining
NH Foods Ltd. respects the freedom of association and the rights of collective bargaining as recognized in the Constitution of Japan and laws andregulations. A union shop agreement has been made with the NH Foods Worker's Union. Members consist of all employees excluding those in management
positions or with equivalent qualifications and others who are excluded based on individual agreements in light of such factors as the nature of their work. In
addition, subsidiaries comply with and respect the laws, regulations, and labor practices of their respective countries, based on a stance that respects
freedom of association and the rights of collective bargaining.
＊ The enrollment rate for the NH Foods Worker's Union in FY2023 was 100%

Employee Health and Occupational Health & Safety
Status of Working Hours and Use of Annual Paid Leave (NH Foods Ltd.)
Items
Annual actual working hours (hours)
Hours of overtime work (hours)
Average number of days of annual paid leave granted (days)
Average number of days of annual paid leave taken (days)
Average usage rate of annual paid leave (%)

FY2019
2,052
278
18
15
79

FY2020
2,040
287
18
12
60

FY2021
2,005
252
18
13
63

FY2022
1,970
226
18
14
76

FY2023
1,968
225
18
14
71

28

Social Report

Lost-time injury frequency rate (NH Foods Group in Japan)
FY2019
1.20
3.48
1.97

Items
National manufacturing industry average (%)
National food manufacturing industry average (%)
NH Foods Group average (%)

FY2020
1.21
3.51
2.08

FY2021
1.31
4.01
2.21

FY2022
1.25
3.25
2.54

FY2023
1.29
3.50
2.25

＊ Lost-time injury frequency rate: the number of casualties due to occupational accidents per million hours of actual work, and the frequency of accidents

Lost-time injury severity rate (NH Foods Group in Japan)
FY2019
0.10
0.25
0.04

Items
National manufacturing industry average (%)
National food manufacturing industry average (%)
NH Foods Group average (%)

FY2020
0.07
0.10
0.05

FY2021
0.06
0.15
0.05

FY2022
0.08
0.16
0.09

FY2023
0.08
0.16
0.07

FY2020
77.2
32.8
92.0
91.6

FY2021
86.9
24.9
97.8
92.8

FY2022
81.0
23.6
97.9
94.5

FY2023
83.5
25.6
97.8
95.5

＊ Lost-time injury severity rate :total work days of lost time per 1,000 actual working hours and the severity of accidents

Support Physical and Mental Health
Items
Rate of follow-up action after physical examinations (%)
Ratio of smokers (%)
Stress check examination rate (%)

Subject
NH Foods Ltd.
NH Foods Ltd.
NH Foods Ltd.
NH Foods Group in Japan

FY2019
ー
ー
95.2
90.3

＊ Stress check: A test conducted by businesses on their workers to assess their level of psychological strain

Occupational Safety and Health Management System Status (as of March 2024)■7 business sites certified (certified business site ratio: 1.4%)
Status of ISO45001 Certification Acquisition●Nipponham Delicatessen Ltd.

Japan

(Headquarters, Product Development Division,

ThailandNiigata Plant, Hokkaido Plant, Miyazaki Plant)●Thai Nippon Foods Co., Ltd.
(Ayutthaya Plant, Phitsanulok Branch)

List of Donations
Donations (NH Foods Ltd.)
Items
Total donations (yen)FY2019171,229,030＊ Figures for domestic and overseas group companies have been included since FY2022

FY2020166,479,466

FY2021
186,778,998

FY2022203,983,276

FY2023
171,913,800＊ Political donations in FY2023: 1,100,000 yen

29

Corporate GovernanceCorporate Governance
The average meeting attendance rate for directors in fiscal 2023 was 100%.

Board of Directors
Meetings Attended/
Meetings Convened

Attendance Rate(%)

Position

Name

Chairperson and Director

Tetsuhiro Kito

18/18

100

President and Representative Director, President ＆ CEO

Nobuhisa Ikawa

18/18

100

Director and Managing Executive Officer

Fumio Maeda

18/18

100

Director and Managing Executive Officer

Masahito Kataoka

18/18

100

Director

Yoshihide Hata*1

5/5

100

Director and Managing Executive Officer

Kohei Akiyama*2

13/13

100

Director (Outside)

Yasuko Kono

18/18

100

Director (Outside)

Hideo Arase

18/18

100

Director (Outside)

Tokushi Yamasaki

18/18

100

Audit & Supervisory Board Member

Sadanori Miyagai

18/18

100

Audit & Supervisory Board Member

Nobuyuki Tazawa

18/18

100

5/5

100

*1

Audit & Supervisory Board Member (Outside)

Akihiko Shiba

Audit & Supervisory Board Member (Outside)

Masayuki Kitaguchi

18/18

100

Audit & Supervisory Board Member (Outside)

Shigeru Nishiyama

18/18

100

Audit & Supervisory Board Member (Outside)

Katsumi Nakamura*2

13/13

100

The following notes have been added concerning resignations and appointments of officers in June 2023
*1 Resigned in June
*2 Appointed in June30

Corporate Governance

FY2023 Status of Optional Committee Attendance■Compliance Committee

Meetings Attended/
Meetings Convened
4/4

Attendance Rate(%)

Position

Name

Chairperson and Director

Tetsuhiro Kito

President and Representative Director, President ＆ CEO

Nobuhisa Ikawa

4/4

100

Director and Managing Executive Officer

Fumio Maeda

4/4

100

Director and Managing Executive Officer

Kohei Akiyama

4/4

100

Director (Outside)

Yasuko Kono

Audit & Supervisory Board Member (Outside)

4/4

100

*1

1/1

100

*1

4/4

100

4/4

100

Masayuki Kitaguchi

Audit & Supervisory Board Member (Outside)

100

Managing Executive Officer

Katsumi Nakamura
Nobuo Oda

Managing Executive Officer

Yukihiro Matsumoto

4/4

100

Executive Officer

Yoshitaka Hasegawa

4/4

100

General Manager of the Compliance Department

Hiroshi Matsuura

4/4

100

Yuta Yamagishi

4/4

100

Union representative officers＊ The Committee also includes advisors and outside experts■Sustainability Committee*1 Observer
Meetings Attended/
Meetings Convened
4/4

Attendance Rate(%)

Position

Name

Chairperson and Director

Tetsuhiro Kito

President and Representative Director, President ＆ CEO

Nobuhisa Ikawa

4/4

100

Director and Managing Executive Officer

Fumio Maeda

4/4

100

Director and Managing Executive Officer

Masahito Kataoka

4/4

100

Director and Managing Executive Officer

Kohei Akiyama

4/4

100

Director (Outside)

Yasuko Kono

4/4

100

Director (Outside)

Hideo Arase

4/4

100

Director (Outside)

Tokushi Yamasaki

4/4

100

Managing Executive Officer

Nobuo Oda

4/4

100

Managing Executive Officer

Yukihiro Matsumoto

4/4

100

Hirohide Fujiwara

4/4

100

2/2

100

Executive Officer
Audit & Supervisory Board Member (Outside)＊ Additional member is outside expert

Shigeru Nishiyama

*1

100

*1 Observer

31Corporate Governance■Executive Appointments Committee
Meetings Attended/Meetings Convened

Position

Name

Director (Outside)
Director (Outside)
Director (Outside)
Audit & Supervisory Board Member (Outside)

Yasuko Kono
Hideo Arase
Tokushi Yamasaki
Masayuki Kitaguchi

5/5
5/5
5/5
5/5

Attendance Rate(%)

100
100
100
100

■Board of Independent Outside Officers
Meetings Attended/Meetings Convened

Position

Name

Director (Outside)
Director (Outside)
Director (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)

Yasuko Kono
Hideo Arase
Tokushi Yamasaki
Akihiko Shiba*1
Masayuki Kitaguchi
Shigeru Nishiyama
Katsumi Nakamura*2

2/2
2/2
2/2
1/1
2/2
2/2
1/1

Attendance Rate(%)

100
100
100
100
100
100
100

■Compensation Committee
Position

Meetings Attended/Meetings Convened

Name

President and Representative Director, President ＆ CEO
Director (Outside)
Director (Outside)
Director (Outside)

Nobuhisa Ikawa
Yasuko Kono
Hideo Arase
Tokushi Yamasaki

4/4
4/4
4/4
3/3

Attendance Rate(%)

100
100
100
100

■Board of Independent Officers and Representative Directors
Position

Name

Chairperson and Director
President and Representative Director, President ＆ CEO
Director (Outside)
Director (Outside)
Director (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)
Audit & Supervisory Board Member (Outside)

Tetsuhiro Kito
Nobuhisa Ikawa
Yasuko Kono
Atsushi Iwasaki*1
Hideo Arase
Akihiko Shiba*1
Masayuki Kitaguchi
Shigeru Nishiyama
Katsumi Nakamura*2*1 Resigned in June

*2

Meetings Attended/Meetings Convened

2/2
2/2
2/2
1/1
2/2
1/1
2/2
1/2
1/1

Attendance Rate(%)

100
100
100
100
100
100
100
50
100

Appointed in June

32

Corporate Governance

Promoting Compliance
NH Foods Group engages in awareness-raising activities to deepen employees' understanding of compliance and reaffirm its importance.

Compliance Training (NH Foods Group in Japan)
We reaffirm the importance of compliance at all levels of the organization by acquiring knowledge about harassment and communication, engaging ingroup discussions based on case studies, and through other initiatives.
Items
Number of attendees

FY2019FY2020

FY2021

FY2022

FY2023

1,026

1,370

1,081

1,706

1,679

795

1,102

833

1,478

1,457

Number of attendees ranked manager and higher＊ Total number of attendees for training designed for different levels of the organization, such as new employee training, manager training and Group company president training＊ Applicable employees: Officers,General Managers, and Section Chiefs in FY2023 and FY2022,Officers and General Managers in FY2021, Section Chiefs in FY2020 and FY2019

Compliance Competition (NH Foods Group in Japan)
Knowledge on harassment and communication, as well as the results of initiatives underway at different workplaces and business sites are shared.
Items
Number of attendees

FY2019FY202017,460

FY2021

20,545

FY2022

20,288FY2023

17,186

17,174Compliance Visits to Business Sites (NH Foods Group in Japan)
With the aim of avoiding, mitigating and preventing risks, the Compliance Department visits business sites to listen to employee sentiments regarding theonsite atmosphere, business-related issues, interpersonal issues, and other items.
Items

FY2019FY2020

FY2021

FY2022

FY2023

Number of group companies visited

10

7

18

15

14

Number of business sites visited

43

15

24

24

27

Applicable number of employees

Approx. 1,000

Approx. 700

Approx. 900

Approx. 650

Approx. 490＊ Due to COVID-19, compliance activities were primarily conducted remotely in FY2020

33

Corporate GovernanceCompliance Training (NH Foods Group in Japan)
NH Foods Group have set up not only the internal hotline but also the independent external hotline so that Group employees can freely reportand consult on actual workplace conditions.
FY2019Items

FY2020

FY2021

FY2022

FY2023

179

199

249

244

245

－

－

－

12

12

Labor Relations

－

－

－

32

51

Human rights・Harassment・Human relationship

－

－

－

139

111

Quality・Environment・Safety

－

－

－

2

10

Opinion about company policy

－

－

－

43

29

Other（Manners・Moral,etc/）

－

－

－

16

32

Number of consultations received(Detail) Cheating

Compliance Survey (NH Foods Group in Japan)
NH Foods Group conducts a compliance survey of employees (including temporary workers and trainees) every two years.
The purpose of this survey is to consider effective compliance measures and improve the workplace culture by looking at
both compliance risks and employee engagement.
■Survey items: Engagement/Compliance risk/Organizational culture34