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, 2021
(Based on Japanese GAAP)
August 10, 2021
Company name:KENKO Mayonnaise Co., Ltd.

Stock exchange listing: Tokyo
Stock code:

2915

Representative:

President and Representative Director

URL

https://www.kenkomayo.co.jp

Inquiries:

Director

Takashi Sumii
Kenji TachibanaScheduled date to file Quarterly Securities Report:

August 11, 2021

Scheduled date to commence dividend payments:–

Preparation of supplementary material on quarterly financial results:

No

Holding of quarterly financial results meeting:

No

TEL

03-5941-7682(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2021 (from April 1, 2021 to June 30, 2021)(1) Consolidated operating results (cumulative)

Three months ended June 30, 2021
Three months ended June 30, 2020

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%
18,282
16.3
403–
415–
274
–
15,719 (15.1)
(55)
–(36)
–(53)
–
Earnings per share

Diluted earnings per share

Yen
16.74
(3.24)

Three months ended June 30, 2021
Three months ended June 30, 2020

Yen––(2) Consolidated financial position
Total assets

Net assets

Millions of yen
62,29562,320

As of June 30, 2021
As of March 31, 2021

Equity ratio

Millions of yen
35,50335,577

%
57.0
57.1

2. Cash dividends
Annual dividends per share

Year ended March 31, 2021
Year ending March 31, 2022

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
8.00

Yen–

Yen
12.00

Yen
20.00

7.00

–

8.00

15.00

Year ending March 31, 2022 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2022 (from April 1, 2021 to March 31, 2022)
Net sales
Full year

Millions of yen
73,200Percentages 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
6.9
1,430 (27.6)
1,500 (26.9)
1,050 (28.0)
63.73

14. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2021
(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:

Yes

Changes in accounting policies due to other reasons:No

Changes in accounting estimates:

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, 2021

16,476,000 shares As of March 31, 2021

16,476,000 shares

Number of treasury shares at the end of the period
As of June 30, 2021150,578 shares As of March 31, 2021

578 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2021

16,375,422 shares Three months ended June 30, 2020

216,475,422 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2021

As of June 30, 2021

AssetsCurrent assets
Cash and deposits

12,385

12,465

Notes and accounts receivable - trade

11,004

11,210

Merchandise and finished goods

1,814

2,008

Work in process

811Raw materials and supplies

812

872

Other

292

305

Allowance for doubtful accounts
Total current assets

(2)

(8)

26,317

26,866

Non-current assets
Property, plant and equipment
Buildings and structures, net

12,033

11,859Machinery, equipment and vehicles, net

10,928

10,488

Land

6,021

6,021

Construction in progress

22

464

439

29,451

28,811

166

201

Investment securities

5,077

5,151

Deferred tax assets

190

138

1,148

1,150

(31)

(24)

Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets

Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

6,385

6,415

36,00335,42962,32062,295

(Millions of yen)
As of March 31, 2021

As of June 30, 2021

Liabilities
Current liabilities
Accounts payable - trade

7,753

Electronically recorded obligations - operating

8,752

673

764

1,499

1,502

Income taxes payable

305

130

Other provisions

441

296

Current portion of long-term borrowings

Electronically recorded obligations - non-operating

621

Other4,324

4,160

Total current liabilities

15,004

15,627

7,141

6,766

395

5

Non-current liabilities
Long-term borrowings
Provision for retirement benefits for directors (and otherofficers)
Retirement benefit liability

398

360

Other

3,802

4,032

Total non-current liabilities

11,738

11,164

26,742

26,792

Share capital

5,424

5,424

Capital surplus

5,691

5,691

Retained earnings

23,25323,330(1)(256)

34,36734,189Total liabilities
Net assets
Shareholders' equity

Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities1,268

1,350

Foreign currency translation adjustment

(22)

(19)

Remeasurements of defined benefit plans

(35)

(17)

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

4

1,210

1,313

35,57735,50362,32062,295

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)Three months ended

Three months ended

June 30, 2020

June 30, 2021

Net sales

15,71918,282

Cost of sales

12,424

14,273Gross profit

3,294

4,009

Selling, general and administrative expenses

3,349

3,606(55)403

Operating profit (loss)
Non-operating income
Share of profit of entities accounted for using equity method82

Interest and dividend income

1816

Other

30

22

Total non-operating income

5741Interest expenses

2320

Other

15

9

Non-operating expenses

Total non-operating expenses

39

29(36)

415

Gain on sale of investment securities–

1

Subsidy income

53

Total extraordinary income

54

Loss on retirement of non-current assets

00

Other

1–

Total extraordinary losses

10

Profit (loss) before income taxes

(33)

419

Income taxes

19145

Profit (loss)

(53)

274

Profit (loss) attributable to owners of parent

(53)

274

Ordinary profit (loss)
Extraordinary income

Extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)

Profit (loss)

Three months ended

Three months ended

June 30, 2020

June 30, 2021
(53)

274

Valuation difference on available-for-sale securities

196

81

Remeasurements of defined benefit plans, net of tax

518(5)

3196

103

143377143377Other comprehensive income

Share of other comprehensive income of entities accounted
for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

6