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, 2022
(Based on Japanese GAAP)
August 10, 2022
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 10, 2022

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, 2022 (from April 1, 2022 to June 30, 2022)(1) Consolidated operating results (cumulative)
Net sales
Three months ended June 30, 2022
Three months ended June 30, 2021

Millions of yen
20,08518,282

Percentages indicate year-on-year changes
Profit attributable toOperating profit
Ordinary profit
owners of parent% Millions of yen% Millions of yen% Millions of yen%
9.9
344 (14.7)
347 (16.4)
244 (11.0)
16.3
403–
415–
274
–

Earnings per share

Diluted earnings per share

Yen
15.00
16.74

Three months ended June 30, 2022
Three months ended June 30, 2021

Yen––(2) Consolidated financial position
Total assets
As of June 30, 2022
As of March 31, 2022

Net assets

Millions of yen
62,401
61,760Equity ratio

Millions of yen
36,75736,539

%
58.9
59.2

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen
––

Yen
7.00

Yen–

Yen
10.00

Yen
17.00

––––

Year ending March 31, 2023 (Forecast)

1Total3. Notes(1) Changes in significant subsidiaries during the three months ended June 30, 2022
(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, 2022

16,476,000 shares As of March 31, 2022

16,476,000 shares

Number of treasury shares at the end of the period
As of June 30, 2022

200,578 shares As of March 31, 2022

200,578 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended June 30, 2022

16,275,422 shares Three months ended June 30, 2021

216,375,422 shares

Quarterly consolidated financial statements
Consolidated balance sheets(Millions of yen)
As of March 31, 2022

As of June 30, 2022

AssetsCurrent assets
Cash and deposits

12,441

Notes receivable - trade12,855

11972

Accounts receivable - trade

11,837

12,428Merchandise and finished goods

2,082

2,343

Work in process917

Raw materials and supplies

917

943

Other

462

329

Allowance for doubtful accounts

(2)

(2)

27,86828,987

Buildings and structures, net

11,339

11,162

Machinery, equipment and vehicles, net

9,174

8,729

Land

6,021

6,021

Total current assets
Non-current assets
Property, plant and equipment

Construction in progress
Other, net
Total property, plant and equipment
Intangible assets

00353

326

26,88926,240

290

381

5,360

5,450

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

3161

122

1,220

1,248

(30)

(30)

6,711

6,790

33,89233,413

61,76062,401

(Millions of yen)
As of March 31, 2022

As of June 30, 2022

Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Current portion of long-term borrowings

9,160

10,132

711

842

1,449

1,449

Income taxes payable

295

90

Other provisions

463

214

Other

3,988

4,384

Total current liabilities

16,068

17,113

5,466

5,103

6

5356

364

Other

3,323

3,057

Total non-current liabilities

9,153

8,530

25,22125,643

5,424

5,424

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

Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus

5,691

5,691

Retained earnings

24,15324,235

Treasury shares

(332)

(332)

34,93635,0181,389

1,265

220

480

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

4(7)

(7)

1,602

1,739

36,53936,757

61,76062,401

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, 2021

June 30, 2022

Net sales

18,282

20,085

Cost of sales

14,273

16,034Gross profit

4,009

4,050

Selling, general and administrative expenses

3,606

3,706

403

344

Share of profit of entities accounted for using equity method

2–Interest and dividend income

1619

Other

22

25

Total non-operating income

4145

Interest expenses

20

16

Share of loss of entities accounted for using equity method

–

16

Other

99

Operating profit
Non-operating income

Non-operating expenses

Total non-operating expenses

2942415

347

Gain on change in equity–24

Gain on sale of investment securities

1–

Subsidy income

31

Total extraordinary income

426

Loss on retirement of non-current assets

00

Total extraordinary losses

00

Profit before income taxes

419

373

Income taxes

145

129

Profit274

244

Profit (loss) attributable to owners of parent

274

244

Ordinary profit
Extraordinary income

Extraordinary losses

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

ProfitThree months ended

Three months ended

June 30, 2021

June 30, 2022
274

244

Valuation difference on available-for-sale securities

81(123)Remeasurements of defined benefit plans, net of tax

1803259

103

136

377

380

377

380

Other 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