This flash report is unaudited and the translation of the Japanese language version.

Consolidated Financial Summary for
the Second Quarter Ended June 30, 2022 (IFRS)
August 10, 2022
Listed company name: Coca-Cola Bottlers Japan Holdings Inc.
Listed stock exchanges: Tokyo
Code number: 2579
URL: https://en.ccbj-holdings.com/
Delegate: Title: Representative Director & President
Name: Calin Dragan
Contact: Title: Head of Controllers Senior Group Division, Finance, Name: Ishikawa Tatsuhiro Phone: +81-3-6896-1707
Expected date of quarterly report submission: August 12, 2022
Schedule for dividends payment: September 1,2022
Preparation of supplementary materials on quarterly financial results: Yes
Holding of quarterly financial results conference: Yes(Fractions of one million yen are rounded off)

1. Consolidated financial results for the second quarter 2022 (from January 1, 2022 to June 30, 2022)(1) Consolidated financial results (year-to-date)
Revenue

2nd Quarter, 2022
2nd Quarter, 2021

million yen
375,948369,309(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss)
Total comprehensive
Business income (loss) Operating income (loss) Net income (loss) attributable to owners ofincome (loss)
the parent％
million yen％
million yen％
million yen％
million yen％ million yen％
1.8(18,221)(14,431)(9,896)(9,899) －(8,177) －
－
－
－
(1.4)
(14,799)(18,250)(367)(354) －
3,136 －－－－

Earnings (Loss) per share Diluted earnings per share
yen
－
－

yen
(55.20)(1.98)

2nd Quarter, 2022
2nd Quarter, 2021

*1.“Business Income” is a measure of our recurring business performance that is calculated as costs of goods and selling, general and administrative
expenses are deducted from revenue, and other income and expenses which we believe are recurring in nature are added and subtracted accordingly.
2. Net income and Net income attributable to owners of parent for second quarter 2021 results is a total of continuing operation and discontinued
operation results.

(2) Consolidated financial position
Total assets

Total equity

million yen
841,250
867,111

Jun. 30, 2022
Dec. 31, 2021

Equity attributable to parent owners

million yen
479,136
492,451

million yen
479,002492,320

Ratio of equity attributable toparent owners
％
56.9
56.8

2. Dividends
Dividends per shareFirst quarter

Second quarter

Third quarter

Fiscal year

Total

yen

yen

yen

yen

yen

FY ended December, 2021

－

25.00

－

25.00

50.00

FY ending December, 2022

－

25.00
－

25.00

50.00

FY ending December 2022
(forecast)
Note: Revisions to the cash dividends forecasts most recently announced: None

3. Forecast for consolidated financial results 2022 (With January 1, 2022 to December 31, 2022)
Revenue

Full-year of 2022

Business income (loss)(Percentages indicate changes over the same period in the prior fiscal year)
Net income (loss)
Earnings per
Operating income (loss)
Net income (loss) attributable to owners of theshareparentmillion yen％

millionyen％

million yen％

million yen％

million yen％

yen819,700

4.3(14,600)－(11,100)－(7,900)－(7,900)－(44.05)

Note: Revisions to the forecasts of consolidated operating results most recently announced: None

Notes(1) Changes in significant subsidiaries during the current period:(2) Changes in accounting policies and changes in accounting estimates:
1) Changes in accounting policies as required by IFRS:
2) Changes other than the accounting policies in 1) above:3) Changes in accounting estimates:

None

None
None
Yes

* For details, please refer to "2. Condensed Consolidated Financial Statements and Notes (5) Notes to Condensed Consolidated
Financial Statements (Changes in Accounting Estimates)" on page 14 of the attached materials.
(3) Number of outstanding shares (common shares)
1) The number of outstanding shares (including treasury shares):2nd Quarter, June 2022:
206,268,593 shares
FY Ended December 2021:

206,268,593 shares

2) The number of treasury shares:
2nd Quarter, June 2022:

26,926,550 shares

FY Ended December 2021:

26,924,631 shares

3) The number of average shares outstanding:
2nd Quarter, June 2022:
179,343,239 shares
2nd Quarter, June 2021:

179,347,011 shares※ The consolidated financial summary is not subject to quarterly review procedures conducted by certified public accountant or audit

firm.
※ Explanation regarding appropriate use of the forecast, other special instructions

Figures in the above forecast are based on information available at the time of issuance of this report, and the actual results may bechanged materially due to a number of inherent uncertainties in the forecast. Furthermore, please refer to “1. Qualitative Informationon the Financial Summary for this Quarter (3) Qualitative Information on the Future Outlook, such as Forecast of Consolidated
Financial Results” on page 5 for matters relating to performance forecasts.

Table of Contents
1. Qualitative Information on the Financial Summary for this Quarter ..................................................................................................... 2(1) Qualitative Information on Consolidated Financial Results............................................................................................................. 2(2) Qualitative Information on Consolidated Financial Position ........................................................................................................... 5(3) Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results ............................................. 5
2. Condensed Consolidated Financial Statements and Notes .................................................................................................................... 6(1) Condensed Consolidated Statement of Financial Position ............................................................................................................... 6(2) Condensed Consolidated Statements of Income and Comprehensive Income ................................................................................. 8(3) Condensed Consolidated Statements of Changes in Equity ........................................................................................................... 10(4) Condensed Consolidated Statements of Cash Flows...................................................................................................................... 12(5) Notes to Condensed Consolidated Financial Statements ............................................................................................................... 14(Notes Relating to Going Concern Assumption) ............................................................................................................................. 14(Changes in Accounting Estimates) ................................................................................................................................................. 14(Segment Information) .................................................................................................................................................................... 141

1. Qualitative Information on the Financial Summary for this Quarter(1) Qualitative Information on Consolidated Financial Results
Coca-Cola Bottlers Japan Holdings Inc. (“CCBJH,” the “Company,” or “we”) announced second quarter results for the fiscal
year ending December 31, 2022 (January 1, 2022, to June 30, 2022).
In this year-to-date second quarter (January 1 to June 30, 2022, hereinafter referred to as "first half"), the domestic total
nonalcoholic ready-to-drink (NARTD) beverage industry is estimated to have grown by about 4% compared to the previous year
on volume basis. This was due to an increase in demand from the recovery in traffic since the late-March when various government
measures to prevent the spread of COVID-19 were eased, with the addition of the effects of the early end to the rainy season andthe heat wave in late-June. However, the business environment remains uncertain and challenging due to changes in consumerpurchasing behavior, continued severe competition, rising global commodity prices, and the rapid yen depreciation.
Under these circumstances, we have positioned 2022 as the "year of building a foundation for sustainable growth" and have beenworking to build a foundation for steady and sustainable growth and to promote further transformation. For commercial activities,
we worked to grow sales volume and sales revenue by launching new products, responding to diversifying consumer needs, andexecuting effective campaigns to capture the recovery in traffic. In addition, as part of our margin focused pricing strategy, in May
we implemented the price revision for large PET. In manufacturing and supply chain fields, while faced with the rising commodity
prices, we worked to build a supply chain network that will serve as a foundation for sustainable growth. In July, the Akashi Mega
DC, one of the largest automated distribution centers by storage and shipping capacity in Japan, began its operation on a large scale.
In addition, we have strengthened coordination between the sales and supply chain areas by revamping the S&OP (Sales andOperations Planning) process and have worked to build a supply chain that can respond agilely to sudden changes in demand.
Activities to realize ESG targets based on creating shared value with society includes our work towards the increased use ofsustainable materials in PET bottles and expanding label-less products. In the second quarter, as part of our efforts to achieve theCoca-Cola system's "2030 Packaging Vision," we worked with local governments and partner companies to establish a steadypackaging collection and recycling scheme. We are also working on the pilot sales of shrink labels attached PET bottle products
made from recycled PET bottle materials through chemical recycling.
Details for the first half earnings are as follows. Please also refer to our earnings presentation material posted on the Company
IR website (https://en.ccbj-holdings.com/ir/library/presentation.php) to be used in our earnings conference call on Friday, August
12, 2022 at 1:30 PM (JST). Which will include details of the first half results and full year outlook. The earnings presentation audio
will be available live and on demand as an audio webcast on our company website.

2

Summary of Consolidated Financial Results(Millions of yen, excluding sales volume)First half (January 1 to June 30)
2021

Change(%)

2022

369,309375,948

1.8

217

224

4

Gross Profit

163,269

163,138(0.1)

Selling, General & Administrative Expenses

177,295

181,275

2.2

Other income (Recurring)

415

521

25.4

Other expenses (Recurring)

1,055

666

(36.9)

Investment income (loss) on equity method

(133)

61

－

(14,799)(18,221)－

Other income (Non-recurring)

4,601

6,658

44.7

Other expenses (Non-recurring)

8,053

2,868

(64.4)(18,250)(14,431)－(354)(9,899)－

Revenue
Sales volume (million cases)

Business Income (Loss)

Operating Income (Loss)Net Income (Loss) Attributable to Owners of the Parent(Millions of yen, excluding sales volume)(For reference) Q2 (April 1 to June 30)
2021

Change(%)

2022

200,909

207,095

3.1

120

124

3

Gross Profit

89,10891,127

2.3

Selling, General & Administrative Expenses

91,86996,383

4.9

Other income (Recurring)

216

223

3.2

Other expenses (Recurring)

664

478

(28.1)

6

39

507.4

Business Income (Loss)(3,202)(5,472)－Other income (Non-recurring)

3,611

968

(73.2)

Other expenses (Non-recurring)

3,516

257

(92.7)

Operating Income (Loss)(3,107)(4,761)－Net Income (Loss) Attributable to Owners of the Parent(1,670)(3,331)－

Revenue
Sales volume (million cases)

Investment income on equity method

Note: 1. “Business Income (Loss)” is a measure of our underlying or recurring business performance. Business Income (loss) deducts cost of sales and selling,
general and administrative expenses from revenue, and includes other income and expenses which we believe are recurring in nature.
2. Net Income (Loss) Attributable to Owners of Parent in 2021 is a total of continuing operation and discontinued operation results.

3Consolidated net revenue was 375,948 million yen (1.8% increase of 6,640 million yen from the same period prior year).
Sales volume increased by 4% versus the previous year, despite the immediate negative impact on sales volume following theprice revision for large PET, the positive effects of the new product launches, channel specific initiatives to meet diversifying
consumer needs, the recovery in traffic with the easing of COVID-19 restrictions and the heat wave all contributed. Revenue
growth was driven by volume increase in the immediate consumption channels which carries a higher wholesale revenue percase, and the wholesale revenue per case that is on an improving trend through the large PET price revisions in the over thecounter (OTC) channels and efforts to improve retail prices in the vending channel.
Consolidated business loss was 18,221 million yen (14,799 million yen loss in prior year period). Volume growth, package
mix improvement, wholesale revenue per case growth contributing to profits during the second quarter, and cost reductions
through transformation and other measures were achieved. However, the impact of rising commodity prices, yen depreciation,and the cycling of one-time cost savings implemented last year had a negative earnings impact.
Consolidated operating loss was 14,431 million yen (18,250 million yen loss in prior year period). Although business loss
increased versus the previous year, operating loss decreased versus the previous year due to gain on sales of fixed assets and adecrease in government subsidies for employment adjustment ("temporary leave") related expenses. Other income (nonrecurring) for the first half includes, gain on sales of fixed assets of 3,727 million yen and 2,931 million yen in government
subsidies for employment adjustment. Other expenses (non-recurring) includes 2,166 million yen in temporary leave expenses
and 479 million yen in special retirement allowances related to the voluntary employee retirement programs.
Net income attributable to owners of the parent for the first half was a loss of 9,899 million yen (354 million yen loss in prioryear period). This was due to a gain on transfer of shares of subsidiary Q'sai Co., Ltd. in the same period of the previous year,
being recorded in discontinued operations.
Sales volume trends (% change from same period of previous year)
First half sales volume increased by 4%. The second quarter increased by 3%, despite the impact of decreased volume fromthe large PET price revision in May, demand increased with the recovery in consumer traffic, early end to the rainy season andthe heat wave. By channel, supermarkets, drugstores, and discounters volume grew by 3% and declined by 1%, respectively, forthe first half. This was due to growth of small PET in the second quarter by effective promotions that captured the traffic recovery
opportunity, but the price revision of large PET and the intensified competition had an impact. In vending, volume increased by
3% driven by the recovery in traffic and favorable weather, as well as the contribution of a strengthened product lineup including
the introduction of new products and campaigns implemented through the “Coke ON” smartphone app contributed. In addition,
wholesale revenue per case grew with executing appropriate pricing strategies. CVS was affected by the continued severe
competitive environment with promotions by competitors. However, with the contribution of new products and throughcampaigns to capture the returning traffic demand through stronger collaboration with customers, volume grew and increased
by 8% in the second quarter and by 2% in the first half. In retail and food channels, sales volume grew by 20% with the liftingof measures to prevent the spread of COVID, resulting in a recovery of the number of people going to restaurants. The Online
channel grew by 35%, driven by growth in all categories, the introduction of new online-only “Coca-Cola” and “Coca-Cola Zero
Sugar” label-less bottles, and tie-up promotions with major online customers.
By beverage category performance, sparkling sales volume was flat, despite contributions from new products such as “Fanta
Premier Lemon” and “Coca-Cola Zero Sugar Lemon”, volume declined due to price revisions for large PET packages. Sales
volume of tea products increased by 3%, while large PET declined due to the price revisions, contributions from “Yakan no
Mugicha from Hajime” and “Ayataka Cafe Matcha Latte” which continues to enjoy steady sales growth since their launch inthe previous year, as well as “Ayataka Cafe Hojicha Latte”, the new second product in the Ayataka Cafe series. Coffee sales
volume increased by 3%, supported by strengthening of the COSTA Coffee lineup, with the new “COSTA Almond Latte”, andnew products such as “Georgia Black”. Sports grew by 9%, both small and large PETs grew with restrictions being lifted on
events and other activities, also benefitting from the heat wave. Water sales volume increased by 7% due to an increase in large
PET capturing at-home consumption demand, increase in small PET in vending through traffic recovery and the heat wave, andcontributions from “Irohas Shine Muscat” which was launched last year. In addition, new products "Real Gold X" and "RealGold Y" were introduced for the growing energy drink market.
In the alcohol category, sales volume decreased by 21%. Despite the contributions from new products and renewals for the
Lemon-dou brand, the cycling impact of new products launches in the previous year and of the at home-drinking demand thatgrew with the COVID-19 had an impact. Rollout of the non-alcoholic beverage “Yowanai Lemon-dou”, launched in February
is progressing well.

4(2) Qualitative Information on Consolidated Financial Position
Assets at the end of the quarter were 841,250 million yen, a decrease of 25,861 million yen from the end of the prior year
period. This is mainly due to a decrease in “Cash and cash equivalents” upon the redemption of bonds, alongside an increase in“Inventories” ahead of the peak season.
Liabilities at the end of the quarter were 362,114 million yen, a decrease of 12,545 million yen from the end of the prior year
period. This is mainly due to a decrease in “Bonds and debts” under current liabilities upon the redemption of bonds, alongside
an increase in "Trade and other payables".
Equity at the end of the quarter was 479,136 million yen, a decrease of 13,316 million yen. This is mainly due to a decreasein “Retained earnings” as a result of dividend payments.
The cash flow conditions for the first half of the current year are as follows:<Cash Flows from Operating Activities>
Net cash generated from operating activities was 1,686 million yen (10,606 million net cash generated from operations in
the previous year period). This results mainly from the 15,121 million yen net loss before tax, “Depreciation andamortization”, Increase in “Trade and other payables”, etc., along with “Increase in inventories” etc.
<Cash Flows from Investing Activities>
Net cash used for investing activities was 11,250 million yen (21,119 million yen outflow in the previous year period).
This results mainly from “Acquisitions of property, plant and equipment and intangible assets” etc., as a result of strategic
investments that will serve as a foundation for growth, alongside “Proceeds from sales of property, plant and equipment andintangible assets” as part of the Company's efforts to optimize its balance sheet.
<Cash Flows from Financing Activities>
Net cash used for financing activities was 38,222 million yen (58,563 million yen net cash used for financing activities
in the previous year period), driven by “Payments for bond redemption”, “Dividends paid” and “Repayments of leaseliabilities”.
As a result of these activities, cash and cash equivalents at the end of the fiscal year were 62,711 million yen, a decreaseof 47,786 million yen from the end of the prior fiscal year period.
(3) Qualitative Information on the Future Outlook, such as Forecast of Consolidated Financial Results
As Forecast of Consolidated Financial Results, the Company has no change with the full-year forecast at the fiscal year ending
December 31, 2022, which was announced on May 12, 2022.

5

2. Condensed Consolidated Financial Statements and Notes(1) Condensed Consolidated Statement of Financial Position(Millions of yen)

As ofDecember 31, 2021
AssetsCurrent assets:
Cash and cash equivalents
Trade and other receivables
Inventories
Other financial assets
Other current assets
Total current assets
Non-current assets:
Property, plant and Equipment
Right-of-use assets
Intangible assets
Investments accounted for using the equity
methodOther financial assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets

6

As of
June 30, 2022

110,497
105,320
67,583
1,320
16,27562,711
106,231
86,692
2,494
17,244300,995

275,372

434,994
25,144
66,219431,553
23,39965,666281

337

19,511
13,960
6,006
566,116

19,631
19,355
5,937
565,878

867,111

841,250

(Millions of yen)

As ofDecember 31, 2021

As ofJune 30, 2022

Liabilities and equity
Liabilities
Current liabilities:
Trade and other payables
Bonds and debts
Lease liabilities
Other financial liabilities
Income taxes payable
Provisions
Other current liabilities

103,260
30,990
4,050
－
1,139
9
16,085

120,831
1,000
5,182
593
645
9
16,621

Total current liabilities
Non-current liabilities:
Bonds and debts
Lease liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities

155,535

144,881

156,622
22,462
17,605
2,137
17,3792,920

156,162
19,804
18,8282,147
17,305
2,988

Total non-current liabilities
Total liabilities

219,125
374,660

217,233
362,114

Equity:Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income (loss)
Equity attributable to owners of parent
Non-controlling interests
Total equity

15,232450,832
109,273(85,661)2,644
492,320131
492,451

15,232451,082
94,885(85,664)
3,467
479,002134
479,136

867,111

841,250

Total liabilities and equity7(2) Condensed Consolidated Statements of Income and Comprehensive Income(Consolidated Statements of Income)
The Six-months ended June 30, 2022
Six months ended
June 30, 2021
Continuing operations
Revenue
Cost of sales
Gross profit
Selling and general administrative expenses
Other income
Other expenses
Investment income (loss) on equity method
Operating income (loss)
Financial revenue
Finance costs
Income (Loss) for the period before income taxes
Income tax expense
Net income (loss) for the period from continuing
operations
Discontinued operations
Net income for the period from discontinuing operations
Net income (loss) for the period
Net income (loss) for the period attributable to
Owners of parent
Profit (Loss) from continuing operations attributable toowners of parent
Profit from discontinued operations attributable toowners of parent
Non-controlling interests
Earnings (Loss) per share (yen)Continuing operations
Discontinued operations
Earnings (Loss) per share

8(Millions of yen)Six months ended
June 30, 2022

369,309
206,040
163,269
177,295
5,017
9,108
(133)
(18,250)272
497(18,475)(5,603)375,948
212,810
163,138
181,275
7,179
3,535
61
(14,431)162
852(15,121)(5,225)(12,872)(9,896)

12,505(367)－(9,896)(12,859)(9,899)12,505－(13)

3(71.70)69.72(1.98)(55.20)－(55.20)(Condensed Consolidated Statements of Comprehensive Income)
The Six-months ended June 30, 2022
(Millions of yen)Six months ended
June 30, 2021
(367)

Six months ended
June 30, 2022
(9,896)

(12)

－

1,428

221

Subtotal

1,416

221

Items that may be reclassified subsequently to income (loss):
Cash flow hedges
Subtotal
Total other comprehensive income for the period
Total comprehensive income (loss) for the period

2,087
2,087
3,503
3,136

1,498
1,498
1,719
(8,177)

Comprehensive income (loss) attributable to:
Owners of parent
Non-controlling interests

3,149
(13)

(8,180)3

Net income (loss) for the period
Other comprehensive income (loss):
Items that will not be reclassified subsequently to income orloss:
Share of other comprehensive income (loss) ofinvestments accounted for using equity method
Net change in financial assets measured at fair value
through other comprehensive income9(3) Condensed Consolidated Statements of Changes in Equity
The Six months ended June 30, 2021
(Millions of yen)

Capitalstock
Balance as of January 1, 2021
Comprehensive income (loss) forthe period
Net income (loss) for the period
Other comprehensive income
Total comprehensive income (loss)
for the period

Equity attributable to owners of the parent company
Accumulated otherAccumulatedcomprehensive
CapitalRetained
Treasuryotherincome of disposal
surplusearnings
Sharescomprehensive
groups classified asincome (loss)
for sale

Total

Noncontrollinginterests

Total

15,232450,605

120,473(85,654)

1,095

(107)

501,643450

502,093

－

－

(354)

－

－

－

(354)

(13)

(367)

－

－

－

－

3,503

－

3,503

－

3,503

－

－

(354)

－

3,503

－

3,149

(13)

3,136

－
－
－

－
－
(0)

(4,484)
－
－

－
(4)
0

－
－
－

－
－
－

(4,484)
(4)
0

－
－
－

(4,484)
(4)
0

－

188

－

－

－

－

188

－

188

－

－

17

－

(17)

－

－

－

－

－

－

－

－

(616)

－

(616)

－

(616)

－

－

(107)

－

－

107

－

(297)

(297)

－

188

(4,574)

(4)

(634)

107

(4,917)(297)(5,214)

15,232450,793

115,545(85,659)3,964－

499,875140

500,015

Transactions with owners.
Dividends of surplus
Purchase of treasury stock
Disposal of treasury stock
Transactions of share-based
payment
Reclassification fromaccumulated othercomprehensive income (loss) toretained earnings
Reclassification fromaccumulated othercomprehensive income (loss) to
non-financial assets
Changes from loss of control
Total transactions with owners.
Balance as of June 30, 2021

10

The Six months ended June 30, 2022
(Millions of yen)

Equity attributable to owners of the parent company
Total

Noncontrollinginterests

492,320131

492,451(9,899)3(9,896)

1,719

－

1,719

1,719

(8,180)3(8,177)－－(4,484)－(4,484)

－

(3)

－

(3)

－

(3)

(0)

－

0

－

0

－

0

－

250

－

－

－

250

－

250

－

－

(5)

－

5

－

－

－

－

－

－

－

(902)

(902)

－

(902)

－
15,232250
451,082(4,489)94,885(3)(85,664)

(897)
3,467

(5,138)479,002－134(5,138)479,136

Capitalstock

CapitalsurplusRetainedearnings

15,232450,832

109,273－－－(9,899)

－

－

－

－

－

1,719

－

－

(9,899)－－－(4,484)Purchase of treasury stock－－

Disposal of treasury stock－

Transactions of share-based
payment

Balance as of January 1, 2022
Comprehensive income (loss) forthe period
Net income (loss) for the period
Other comprehensive income(loss)
Total comprehensive income (loss)
for the period
Transactions with owners
Dividends of surplus

Reclassification fromaccumulated othercomprehensive income (loss) toretained earnings
Reclassification fromaccumulated othercomprehensive income (loss) to
non-financial assets
Total transactions with owners
Balance as of June 30, 2022

Treasuryshares

Accumulated othercomprehensive
income (loss)(85,661)
2,644

11

Total

(4) Condensed Consolidated Statements of Cash FlowsSix months ended

Six months ended

June 30, 2021

June 30,2022

Cash flows from operating activities
Income (Loss) for the period before income tax(18,475)(15,121)

12,841－

28,892

22,774(12,841)－

benefit from continuing operations
Income for the period before income tax benefit fromdiscontinued operations
Adjustments for:
Depreciation and amortization
Gain on sales of subsidiaries' stock
Gain on sales of stocks of subsidiaries and affiliates
Change in allowance for doubtful accounts(decrease)
Interest and dividends income

(708)

－

680

(244)

(165)

(151)

Interest expenses
Share of (income) loss of entities accounted forusing equity method
Gain on sale of property, plant and equipment
Loss on disposal and sale of property, plant andequipment(Increase) decrease in trade and other receivables

473

426

(1,201)(814)(Increase) decrease in inventories(9,318)(19,091)(Increase) decrease in other assets

133

(61)

(21)

(3,742)

687

465

(871)

(2,807)

18,334

15,929(Decrease) Increase in net defined benefit liabilities

1,257

1,223

(Decrease) Increase in other liabilities(3,811)

1,270

107

1,075

15,992

1,128

1

0

(Decrease) Increase in trade and other payables

Other
SubtotalInterest received
Dividends received

163

151

Interest paid

(456)

(374)

Income taxes paid

(8,047)(3,407)

Income taxes refund

2,952

4,187

Net cash generated from operating activities

10,606

1,686(25,698)(16,206)

272

4,948

7,400

－

Cash flows from investing activities
Acquisitions of property, plant and equipment andintangible assets
Proceeds from sales of property, plant and equipment
and intangible assets
Proceeds from collection of loans receivable resulting
from sales of stock in subsidiaries
Purchases of other financial assets

(26)

(13)

Proceeds from sale of other financial assets

4,473

17

Proceeds from sale of stock of subsidiaries

34,490－Other
Net cash (used in) generated from investing activities

12

208

4

21,119(11,250)

(Millions of yen)Six months ended

Six months ended

June 30, 2021

June 30,2022

Cash flows from financing activities(Decrease) Increase in short-term loans payable
Repayments of long-term loans payable
Payments for bond redemption
Dividends paid
Proceeds from disposal of treasury stock
Purchases of treasury stock(50,000)

(38)

(550)

(565)

－

(30,000)(4,484)(4,484)

0

0

(4)

(3)

Repayments of lease liabilities(3,525)(3,132)

Net cash used in financing activities(58,563)(38,222)Net change in cash and cash equivalents(26,838)(47,786)

Cash and cash equivalents at the beginning of the year

126,378

110,497

Cash and cash equivalents at the end of the period

99,54062,71113

(5) Notes to Condensed Consolidated Financial Statements(Notes Relating to Going Concern Assumption)
Not applicable.
(Changes in Accounting Estimates)(The Change in useful life of Property, Plant and Equipment)
The group depreciated its sales equipment mainly over a useful life period of 9 years. However, as consumer spending patterns
have been impacted by the pandemic, we have decided to further strengthen the margin & ROI-focus commercial strategy from2022 and determined the policy to utilize our sales equipment on a longer-term basis and more efficiently than in the past. Also,these are to be reflected into our new mid-term business plan which is under development. As a result, the main useful life of sales
equipment has been revised to 11 years and it was applied prospectively from this first quarter.
As a result of this change, operating loss and loss before tax for the first half decreased by 4,450 million yen, respectively,
compared with those based on the previous useful life.
(Segment Information)
As the Group operates a single segment of the beverage business, the reportable segment explanation will be omitted.

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