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, 2019
(Based on Japanese GAAP)
August 7, 2019
Company name:KENKO Mayonnaise Co., Ltd.
Stock exchange listing: Tokyo
Stock code:2915
URL https://www.kenkomayo.co.jp
Representative:
President and Representative Director
Takashi Sumii
Managing Director and Chief ExecutiveInquiries:
Kazuhiro Ito
Officer
Scheduled date to file Quarterly Securities Report:
August 8, 2019
Scheduled date to commence dividend payments:–Preparation of supplementary material on quarterly financial results: No
Holding of quarterly financial results meeting:
NoTEL

03-5318-7530(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the three months ended June 30, 2019 (from April 1, 2019 to June 30, 2019)(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, 201918,5100.8
670 (10.4)745(2.7)525(0.1)
Three months ended June 30, 2018
18,3661.1
748 (22.5)765 (22.9)
526 (22.0)
Earnings per share

Diluted earnings per share

Yen
31.89
31.93

Three months ended June 30, 2019
Three months ended June 30, 2018

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2019
As of March 31, 2019

Net assets

Millions of yen
68,284
70,105Equity ratio

Millions of yen
32,96632,900%48.3
46.9

2. Cash dividends
Annual dividends per share

Year ended March 31, 2019Year ending March 31, 2020

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
15.00

Yen–

Yen
15.00

Yen
30.00

15.00

–

16.00

31.00

Year ending March 31, 2020 (Forecast)Total

3. Forecast of consolidated financial results for the year ending March 31, 2020 (from April 1, 2019 to March 31, 2020)
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
Earnings per shareowners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
Yen
Six months ending
38,400
2.6
1,540
5.8
1,580
4.5
1,080
19.5
65.55
September 30, 2019
Full year
76,000
2.7
3,300
5.9
3,300
4.9
2,350
2.3
142.6414. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2019(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
No
Changes in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:No
Changes in accounting estimates:
NoRestatement 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, 201916,476,000 shares As of March 31, 201916,476,000 shares

Number of treasury shares at the end of the period
As of June 30, 2019578 shares As of March 31, 2019578 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 201916,475,422 shares Three months ended June 30, 20182

16,475,520 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2019
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts

As of June 30, 201910,927
13,398
1,900
10
1,038
670(0)

9,876
14,138
2,062
13
1,048
479(0)

27,94527,617

11,593
11,501
5,900

13,622
14,1405,904

Construction in progress
Other, net

5,921
590

34578

Total property, plant and equipment

35,50734,280

201

191

5,041
287
1,153(32)

4,834
222
1,167(31)Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, netLand

Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

36,4506,194

42,15940,666

70,10568,284

(Millions of yen)
As of March 31, 2019
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Current portion of long-term borrowings
Income taxes payable
Other provisions
Electronically recorded obligations - non-operating
Other

As of June 30, 2019

9,648
903
1,696
604469921
6,080

9,978
1,115
1,631
156
314
379
5,920

20,323

19,497

10,085

9,709

468

355

395
5,931

378
5,376

16,88015,820Total liabilities

37,20435,317

Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares

5,424
5,691
20,626
(1)

5,424
5,691
20,904(1)

31,74032,019

1,227
(14)
(54)

1,073
(76)
(49)

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

Total shareholders' equity
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

41,159947

32,90032,966

70,10568,284

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, 2018

Three months ended
June 30, 2019

Net sales
Cost of sales

18,366
13,704

18,51014,070Gross profit

4,662

4,440

Selling, general and administrative expenses

3,913

3,769

Operating profit

748

670

Non-operating income
Share of profit of entities accounted for using equity method
Interest and dividend income
Other

1
1725

57
1832

4410825
227
5

Total non-operating income
Non-operating expenses
Interest expenses
Other

27

33

Ordinary profit

Total non-operating expenses

765

745

Extraordinary income
Subsidy income
Other

62
1316–761619–0–00

190

Profit before income taxes

822760

Income taxes

296

235

Profit526

525

Profit attributable to owners of parent

526525

Total extraordinary income
Extraordinary losses
Impairment loss
Loss on disaster
Loss on retirement of non-current assets
Total extraordinary losses

5Consolidated statements of comprehensive income (cumulative)(Millions of yen)Three months ended
June 30, 2018
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted
for using equity method

Three months ended
June 30, 2019
52652577
16(154)4(8)(62)

85(211)

Comprehensive income

611

313

Comprehensive income attributable toComprehensive income attributable to owners of parent

611

313

Total other comprehensive income

6