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 Nine Months Ended December 31, 2023
(Based on Japanese GAAP)
February 13, 2024
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 President

Kunikazu Shimamoto
Yoichi Terajima

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

February 14, 2024–

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 nine months ended December 31, 2023 (from April 1, 2023 to December 31, 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%
Nine months ended December 31, 2023
67,1037.2
2,326 432.8
2,426 421.5
1,651 480.5
Nine months ended December 31, 2022
62,5978.7
436 (67.4)
465 (65.0)
284 (67.9)
Earnings per share

Diluted earnings per shareYen
102.4017.48

Nine months ended December 31, 2023
Nine months ended December 31, 2022

Yen––(2) Consolidated financial position
Total assetsNet assets

Millions of yen
68,25962,229As of December 31, 2023
As of March 31, 2023

Equity ratio

Millions of yen
38,56436,794

%
56.5
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
10.00

Yen––

Yen
9.00

Yen
17.00

20.00

30.00

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
87,490Percentages 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
6.2
2,800–
2,900–
2,390 392.2
148.441

4. Notes(1) Changes in significant subsidiaries during the nine months ended December 31, 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 December 31, 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 December 31, 2023

350,665 shares As of March 31, 2023

350,578 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

16,125,388 shares Nine months ended December 31, 2022

216,275,422 shares

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

As of December 31, 2023

AssetsCurrent assets
Cash and deposits

12,28914,039Notes receivable - trade
Accounts receivable - trade65
13,218358
17,532Merchandise and finished goods
Work in process

2,514
15

2,607
13

Raw materials and supplies
Other

1,092
456

1,752
337

Allowance for doubtful accounts
Total current assets

(0)

(0)

29,65136,641

10,688

10,175

7,711
6,021

6,428
6,021

0315

1278

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

24,73822,904

Intangible assets
Investments and other assets

Total property, plant and equipment

807

1,191

Investment securities
Deferred tax assets

5,582
178

6,203
100

Other
Allowance for doubtful accounts

1,300
(30)

1,243
(25)

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

3

7,031

7,521

32,57731,61862,22968,259(Millions of yen)
As of March 31, 2023

As of December 31, 2023

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

11,479845

15,203
1,168

Current portion of long-term borrowings
Income taxes payable

1,144
228

546478Other provisions
Other

456
3,931

227
5,207

Total current liabilities

18,087

22,831

Non-current liabilities
Long-term borrowings

4,321

3,925

347
2,679

325
2,612

Retirement benefit liability
Other
Total non-current liabilities

7,348

6,863

25,43529,694

Shareholders' equity
Share capital

5,424

5,424

Capital surplus
Retained earnings

5,691
24,635

5,691
25,980Total liabilities
Net assets

Treasury shares
Total shareholders' equity

(530)

(530)

35,221

36,566

1,573
15

1,979
35

Accumulated other comprehensive incomeValuation 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)

(15)

1,572

1,998

36,79438,56462,22968,259

Consolidated statements of income (cumulative) and consolidated statements of comprehensive income(cumulative)
Consolidated statements of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Net sales

62,597

67,103

Cost of sales

51,17753,739Gross profit

11,41913,364

Selling, general and administrative expenses

10,983

11,037

436

2,326

–

29

Interest and dividend income
Subsidies for employment adjustment

38
035–

Other

79

88

Total non-operating income

118

153

Interest expenses
Share of loss of entities accounted for using equity method

4625

38–

Other

1715

Total non-operating expenses

89

53

Ordinary profit

465

2,426

Extraordinary income
Gain on change in equity

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

Non-operating expenses

45–

Gain on sale of investment securities
Subsidy income

297–
8

Total extraordinary income

8282

20–

Extraordinary losses
Loss on retirement of non-current assets
Other22

Profit before income taxes

Total extraordinary losses

545

2,432

Income taxes

261

781

Profit284

1,651

Profit attributable to owners of parent

284

1,651

5

Consolidated statements of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022

Nine months ended
December 31, 2023

Profit284

1,651

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

(12)

406

2(0)

180

19169

426

Comprehensive income

453

2,077

Comprehensive income attributable toComprehensive income attributable to owners of parent

453

2,077

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

6