Supplementary Material for

FY2022 Q2 Financial Results

June 13, 2022

◤◤ Contents⚫ Consolidated Financial Highlights (Cumulative)1⚫ Gyomu Super Business3⚫ Outline of Gyomu Super Franchise Agreement4⚫ Changes in Total Number of Gyomu Super Stores5⚫ Year-on-year Changes in Product Shipments to Gyomu Super Stores

6⚫ Kobe Bussan’s Strengths: “Unique Products with Competitive Advantages”

7⚫ Restaurant & Delicatessen Business8⚫ Eco Renewable Energy Business

12⚫ Shareholder Returns

14⚫ Consolidated Financial Forecast

15⚫ Medium-term Management Plan

16◤◤ Consolidated Financial Highlights (Cumulative)<Millions of yen>

<Millions of yen>

Net Sales

200,000

30,000180,000

27,000160,000

24,000Gross Profit
20.0%

15.1%

15.9%

15.4%

16.0%
12.2%

198,161
140,000
120,000

176,069

131,498

176,437

144,52012.0%

21,00018,000

12.0%

8.0%

27,08922,95921,572

19,892

23,7224.0%

15,000100,000
FY18 Q2<Millions of yen>
9.3%

FY19 Q2

FY20 Q2

FY21 Q2

10.0%

8.3%

13,6359,000

FY20 Q2

FY21 Q2

4.1%

4.5%

Operating Profit

15,0008.0%

12,000

6.0%

9,000

4.0%

6,000

12,194
7,000

8,989

FY22 Q2

売上高総利益率
Gross margin

10.0%
8.2%

13,00014,696

FY19 Q2

売上総利益
Gross
profit<Millions of yen>

9.4%

11,000FY18 Q2

FY22 Q2

SG&A Expenses

15,000

0.0%

2.0%

3,000

0.0%

0

5.9%

7.0%

6.5%

8.0%
6.0%

12,393
7,697

7.4%

14,387

14,733
4.0%

9,324
2.0%

7,184
5,000

FY18 Q2

FY19 Q2

FY20 Q2

販売管理費
SG&A
expenses

FY21 Q2
売上高販管費率
SG&A ratio

FY22 Q2

0.0%
FY18 Q2

FY19 Q2

FY20 Q2

営業利益 profit
OperatingNote: Fiscal year (FY) represents the one-year period from November 1 to October 31 of the following year.

FY21 Q2

FY22 Q2

売上高営業利益率
Operating margin1

◤◤ Consolidated Financial Highlights (Cumulative)

18,0008.6%

15,00012,000<Millions of yen>

Ordinary Profit<Millions of yen>

8.3%

7.1%

6.6%

10.0%
8.0%

5.5%

6.0%

9,000

15,19016,380

9,487

7,294

4.0%
2.0%

3,000

0.0%
FY18 Q2

FY19 Q2

FY20 Q2

経常利益profit
Ordinary

FY21 Q2
売上高経常利益率
Ordinary margin

FY22 Q2

Owners of Parent

12,000

5.7%

10,000
8,000

7.0%

4.2%

3.9%

5.6%

10,133

4,000
2,000

5,180

6,049

6.0%
5.0%

4.3%

6,000

12,465
6,000

Profit Attributable to11,037

4.0%
3.0%

7,546

2.0%

0

1.0%
FY18 Q2

FY19 Q2

FY20 Q2

親会社株主に帰属する当期純利益
Profitattributable to owners of parent

FY21 Q2

FY22 Q2

売上高当期純利益率
Net margin[Financial Overview]⚫ Net sales
Net sales increased by ¥21,723 million (12.3%) year on year with successful pricing strategy in addition to the continued coverage on
television, magazines, newspapers, and social media.
⚫ Gross profit
Despite the continued rise in costs caused by the weakening of yen, as well as soaring prices of raw materials and ocean freights, grossprofit increased by ¥2,150 million (10.0%) year on year because the price revision helped maintain the current gross margin level.
⚫ SG&A expenses
SG&A expenses increased by ¥1,804 million (25.1%) year on year due to increases in freight costs for the Gyomu Super Business, andpersonnel expenses and rent expenses for our directly operated BBQ restaurants.

⚫ Operating profit
Operating profit increased by ¥345 million (2.4%) year on year despite a drop in the operating margin due to increases in cost of sales
and SG&A expenses.
⚫ Ordinary profit
Ordinary profit increased by ¥1,189 million (7.8%) year on year by the recording of foreign exchange gains due to the weakening yen.
⚫ Profit attributable to owners of parent
As there were no significant change in extraordinary losses (income), profit attributable to owners of parent increased by ¥904 million2(8.9%) year on year.

◤◤ Gyomu Super BusinessGyomu Super is our core business. Operating results of this business segment reflect wholesale sales to, androyalty fee from, Gyomu Super franchisees earned by Kobe Bussan, a franchisor (franchising headquarters), as wellas earnings of Kobe Bussan Group’s plants.

◼ Gyomu Super stores have expanded nationwide with 969 storesas of April 30, 2022.
◼ We revised prices in phases to address cost rises caused
primarily by the soaring prices of raw materials.
◼ We nevertheless maintained price difference between Gyomu
Super and other supermarkets to keep attracting customers.
Gyomu Super Tengachaya Ekimae Store<Millions of yen>

<Millions of yen>

Net Sales

Operating Profit(cumulative)(cumulative)
200,000

17,000180,000

14,000160,000

11,0007.1%

16,052

157,586
120,000

115,369
FY18 Q2

8,209

16,620FY21 Q2

FY22 Q2

6.0%

0.0%
FY18 Q2

FY20 Q2

9.0%

3.0%

9,928

5,000

126,760
FY19 Q2

8.6%

13,3008,000

173,596

8.4%

7.8%

193,532

140,000

100,000

12.0%

9.2%

FY19 Q2

FY20 Q2

営業利益 profit
Operating

FY21 Q2

FY22 Q2

営業利益率
Operating margin

Note: Due to a change in the reportable segment structure in FY2021, the figures for FY2020 are reclassified retrospectively to reflect the change.
Accordingly, the figures for these two years are not consistent with those for FY2019 or before.
３◤◤ Outline of Gyomu Super Franchise Agreement
We operate Gyomu Super stores under a franchise system except 3 stores of our own.
Our franchise agreement has 2 types as follows:• General franchise contract, which allows a franchisee to open one store in our directly managed areas (*1).
• Area franchise contract, which allows a franchisee to open multiple stores in a defined prefecture in our indirectly managed
areas (*2). Also, we own 3 stores in Hyogo and Osaka prefectures under direct operations.
関西直轄
228店舗

*1 Directly managed areas• Hokkaido area: Hokkaido prefecture• Kanto area:
Tokyo, Chiba, Kanagawa, and Saitama prefectures• Kansai area:
Osaka, Kyoto, Hyogo (excl. Awaji Island), Nara, Wakayama, and Shiga prefectures• Kyushu area:
Fukuoka, Saga, Nagasaki, Kumamoto, Oita, and Miyazaki prefectures 地方エリア

関東直轄
191店舗

Outline of Franchise Contract & Requirements

Simulated Earnings（as of April 30, 2022）(Standard Store Franchisees)

Directly managed areas

Indirectly managed areas

Number of franchisees

8715Type of franchise
agreement

Single-unit franchise(A general franchisee can open
one store per contract.)

Multi-unit franchise(An area franchisee has an
exclusive right to open multiple
stores in a prefecture defined
under the contract.)

Initial franchise fee(excl. consumption taxes)¥2,000,000

Population in the prefecture x ¥2

Franchise deposit¥10,000,000

Population in the prefecture x ¥5

1% of total purchase of goods

1% of purchase of defined goods

Royalty fee

Facility expenses

Distribution expenses

It costs between ¥20 million and ¥29 million to construct racks for
shelf-stable foods and refrigeration equipment (the above
construction cost is a rough estimate and varies depending on
properties). Equipment, construction work, POS registers, and otherfunds for start-up are required separately.
Principally paid byfranchise headquarters

神奈川県
55店舗

東京都
64店舗

315店舗

*2 Indirectly managed areas• Other areas:
Prefectures other than those listed above

千葉県
33店舗

Negotiable

P&L accountMonthlyamountComposition

Net sales¥32,000,000

100.0％

Gross profit¥5,120,000

16.0％

SG&A expenses¥4,480,000

14.0％(Rent expenses)¥1,300,000

4.1％(Personnel expenses)¥1,440,000

4.5％¥640,000

2.0％Operating profit* By purchasing items such as fresh food separately, many offranchisees operate more efficiently than the above simulation.
４◤◤ Changes in Total Number of Gyomu Super Stores
Gyomu Super opened 34 stores and closed 15,
resulting in a net increase of 19 stores during FY2022
Q2 cumulative, and opened 15 stores and closed 2
during FY2022 Q2 alone.

The progress rate of full-year target (a net increase of
60 stores per year) was 32% as of April 30, 2022.
We expect to achieve the target because the store
openings tend to be concentrated in September andOctober.
(Stores)Number of Stores by Area
922 stores as ofApril 30, 2021

Hokkaido 16
Kyushu 42

関西直轄
228店舗

Kansai
252

地方エリア
315店舗
（＋2）

関東直轄
191店舗

Kanto
253

Chiba

神奈川県
43
55店舗

Saitama57
東京都

Kanagawa

64店舗

71

Tokyo

Other

Total Number of Gyomu Super Stores

千葉県
33店舗

82

359

(cumulative)

1,050

1,010
1,000

969 stores as ofApril 30, 2022 (+47)

969
950

Hokkaido 21 (+5)
Kyushu 63 (+21)

922
900
862

Kansai

Chiba

258

46
Saitama (+３)
61
Kanagawa

(+６)

Kanto

850

262
Other

800
FY20202020年
Q2
4月

FY20212021年
Q2
4月

FY20222022年
Q24月

FY2022
2022年
Target
10月目標

365
(+６)
（＋22）

(+９)

(+４)
（＋4）

（＋5）

Tokyo

81

74
(+３)
（＋３）

(-１)
（＋3）

Directly managed areas: Hokkaido, Kanto, Kansai, and Kyushu
Indirectly managed areas: Other5◤◤ Year-on-year Changes in Product Shipments to
Gyomu Super Stores◼ Product shipments to existing stores remained better than our plan partly because of continuous
exposure on television, magazines, newspapers, and social media.
[Existing Stores in Directly Managed Areas]
Monthly Trends for Product Shipments<YoY Change (%)>

135

113.3 113.6
110.9

110
105
100
95

110.2
103.6

110.4 103.1

108.4 109.7
104.3 105.3

102.9

103.1

109.9 109.8

102.9 109.7
103.5

102.4

101.1 94.4

91.5

118.6

120
115

94.2

131.1

115.9

105

119.9

115.1

110.3 111.2
110.0

108.6

111.5

110.5

102.4

114.3

114.5

113.3

115.9
101.7

110.8

May
June
5月
6月
2021年
FY2021

July
Aug.
7月
8月
2022年
FY2022

113.1

111.1

98.9

100

90

122.6

119.8
115.3 112.5 113.2

110
104.5

124.9

120.1

125

115.8

109.1

136.6

130

119.6

120

135.8

135

124.1

125

115

140

128.6 131.0

130[All Stores Nationwide]
Monthly Trends for Product Shipments<YoY Change (%)>

95

11月
Nov. 12月
Dec.

1月
Jan.

2月
Feb.

3月
Mar.

FY2020
2020年

4月
Apr.

5月
May

FY2021
2021年

6月
June

7月
July

8月
Aug.

9月 10月Sept.
Oct.

Nov. 12月
Dec.
11月

Jan.
1月

Feb.
2月

Mar.
3月

Apr.
4月

2020年
FY2020

FY2022
2022年

Products shipments
to existing stores in
directly managed areasfor each quarter alone[Year-on-year % Changes in Product Shipments to Gyomu Super Stores]
FY2022

Directly
managedareas
Nationwide

Existing
StoresAll
storesAll
storesSept.
Oct.
9月 10月

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

H1

110.2

102.4

103.1

101.1

105.3

102.9

104.1

116.6

108.8

109.3

107.5

111.9

108.6

110.4

118.6

110.3

111.2

108.6

113.2

110.5

112.0

Note: “Nationwide” represents the product shipments to the stores in both directly and indirectly managed areas.

Q1: 105.1%
Q2: 103.1%

6

◤◤ Kobe Bussan’s Strengths:“Unique Products with Competitive Advantages”
Enhancing Original Products

Samples of Private Label Products

Today, we have come to own 25 plants with the food production plants
in Miyagi and Okayama having started their operations in January and
April 2021, respectively. The number is one of the largest in Japan’s
supermarket industry. Our original products produced at these plants
are available only at Gyomu Super stores and enjoy strong customer
acceptance.

◼ Products produced by Kobe Bussan Group’s plants

Also, food products directly imported from approximately 45 countries
under the concept, “the flavors of the world, to Japan,” are popular with
consumers because they enjoy genuine taste of countries across theworld at reasonable prices at home.

Ratio of Private Label Products(cumulative)
35.0%

Chicken cutlets(Shiso plum flavor)¥537 (1 kg)

34.74%

32.0%

Black pepper
dressing¥354 (1 L)

Oats
Porridge¥159 (500 g)

Lightly-baked Yakimochi
Pancake (with Scallions)¥408 (120 g x 5 pcs)

34.29%◼ Import products

34.0%

33.0%

FrozenSanuki udon
¥169 (200 g x 5 pcs)

32.75%

31.47%

33.01%

32.94%

31.38%

31.45%

33.12%

31.65%

31.0%

Tempe

30.0%
Q1
1Q
2020年10月期
FY2020Q2
Q3
2Q
3Q
2021年10月期
FY2021

Q4
4Q
2022年10月期
FY2022¥321 (450 g)

Note: All prices include tax.
Products and prices are different depending on stores and seasons.

7◤◤ Restaurant & Delicatessen Business
The Restaurant & Delicatessen Business covers restaurants and delicatessen shops that we operate directly or as afranchisor (franchising headquarters). This business segment includes Kobe Cook World Buffet, a buffet-style restaurant
chain; Premium Karubi, a served a-la-carte buffet style BBQ restaurant chain; and Chisouna, a delicatessen shop chain.

◼ We strengthen the Restaurant & Delicatessen
Business as a food infrastructure company.
◼ The number of Kobe Cook World Buffet
customers is on a recovery trend.
◼ Premium Karubi and Chisouna have continued
increasing the number of customers.

Kobe Cook World Buffet<Millions of yen>

<Millions of yen>

Net Sales

Premium Karubi

Operating Profit(cumulative)(cumulative)
4,000

3,238
3,000

50

1,462
902

1,601

6.0%

1.2%

48

0
-50

1,000

4.4%

100

2,000

Chisouna

0.0%

-44

17

-100

1,088

-150

3.0%

-156

-9.7%

-4.9%

-89
-2.8%

-12.0%
FY18 Q2

FY18 Q2

FY19 Q2

FY20 Q2

FY21 Q2

FY22 Q2

-6.0%
-9.0%

-200
0

-3.0%

FY19 Q2

FY20 Q2

営業利益 profit
Operating

FY21 Q2

FY22 Q2

営業利益率
OperatingmarginNote: Due to a change in the reportable segment structure in FY2021, the figures for FY2020 are reclassified retrospectively to reflect the change.
Accordingly, the figures for these two years are not consistent with those for FY2019 or before.
8◤◤ Restaurant & Delicatessen Business
Kobe Cook World Buffet
Total Number of Restaurants: 9 (as of April 30, 2022)

Kobe Cook World Buffet opened 1 restaurant and closed 7, resulting in a net decreaseof 6 restaurants during FY2022 Q2 cumulative, and opened 1 restaurant, which wasreopened after renovation at Isesaki-shi, Gunma, during FY2022 Q2 alone.
It continued to make efforts such as promoting a takeout service to cater forcustomer needs.

Initiatives to Reduce Food Waste
Harborland Restaurant (located in Chuo-ku, Kobe-shi, Hyogo), which we directly operate, isan experimental restaurant to work on various initiatives to reduce food waste. Since
November 2021, after the last order of lunch and dinner hours, the restaurant has offered
50% discount at a section in the restaurant designated for selling “by weight” at ¥1.00 (¥1.08
including taxes) per gram. Such initiatives enhance customer satisfaction of any age and are
currently introduced into 8 restaurants.

Overview of FY2022 Q2 alone & Business Strategy
In Kobe Cook World Buffet, some restaurants temporarily closed or shortened opening
hours to prevent the COVID-19 infections. However, the number of customers is on amoderate recovery trend after the pre-emergency measures were lifted nationwide in lateMarch.
Under such circumstances, Harborland Restaurant changed menus to enrich alcohol menus.
The new menus have been well received by customers and offered in all our restaurants
since May.
We continue to offer services to satisfy customers with unparalleled menus and voluminous
foods at affordable price.

Initiatives to reduce food waste

9◤◤ Restaurant & Delicatessen BusinessPremium Karubi
Total Number of Restaurants: 13 (as of April 30, 2022)

Premium Karubi opened 1 restaurant during FY2022 Q2 alone,
resulting in a net increase of 3 restaurants during FY2022 Q2 cumulative.
In April 2022, it increased the number of customers under normal operating hours.
It took some necessary measures including menu changes because of soaring purchase prices of meat.

Differentiation from Other Competitors
What makes Premium Karubi different from other BBQ restaurants isthe best selected, perfectly aged meat and in-house made desserts
and gelatos. The restaurants are increasing the number of customers,
primarily women, by offering new menus for each season so that
repeat customers can enjoy our meals.
Also, we have regularly offered a limited-time menus, which includes
those with the taste of cuisines from around the world. Since June
2022 all the restaurants have run a marketing campaign titled“Thailand Fair” to enhance customer satisfaction.

Restaurants Opened during FY2022
Kohoku Hiyoshi

6-1-15 Hiyoshi, Kohoku-ku, Yokohama-shi, Kanagawa

Shikinomori

720 Kamishirane-cho, Asahi-ku, Yokohama-shi,
Kanagawa

Urawa

3-1-25 Tsuji, Minami-ku, Saitama-shi, Saitama* Opened on April 12.

* We plan to open new restaurants in May onwards in phases.

Note: Menus may vary by restaurant and season.

10◤◤ Restaurant & Delicatessen Business
Chisouna
Total Number of Shops: 65 (as of April 30, 2022)

Chisouna opened 8 shops during FY2022 Q2 alone, resulting in a netincrease of 16 shops during FY2022 Q2 cumulative.
Franchisees are eager to establish a Chisouna section in newly opened
Gyomu Super stores.

Factors behind Strong Performance
Despite soaring prices of some raw materials, Chisouna
maintains a price advantage by working on menu changes
and cooking operations efficiency. The voluminous fresh
homemade foods keep attracting customers.

Shops Opened during FY2022 Q2 alone
Yamato Takada

14-4 Tsukiyama, Yamatotakada-shi, Nara

Miyakonojo

28-gaiku 6-go Kitahara-cho, Miyakonojo-shi, Miyazaki

Kyuhoji-eki Minami

2-1-38 Taishido, Yao-shi, Osaka

Chikugo Kita

261-1 Otsubo, Kumano, Chikugo-shi, Fukuoka

Wakura41 Koyodai, Nanao-shi, Ishikawa

Ranzan208-1 Hirasawa, Ranzan-machi, Hiki-gun, Saitama

Nagamine

3-9-1 Nagamine Minami, Higashi-ku, Kumamoto-shi,
Kumamoto

Bizen

1278-36 Nishikatakami, Bizen-shi, Okayama

Note: Products and prices may vary by shop and season.
11◤◤ Eco Renewable Energy BusinessWe provide eco-friendly, safe, and reliable renewable energy by operating solar andwoody biomass power plants.

◼ A solar power plant in Misaki-cho, Osaka, started
operations in May 2021, resulting in a year-onyear increase by 1 solar power plant.
◼ The existing power plants operated steadily,
contributing to year-on-year increases in sales
and profit.
◼ We plan to gradually start operating solar power
plants in Fukushima and Miyagi.
Net Sales<Millions of yen>

Kobe Bussan’s Solar Power Plant(Photo: The plant in Misaki-cho generates 9.9 MW.)Operating Profit<Millions of yen>(cumulative)(cumulative)

250

1,500

1,388
1,151

1,200

1,192

150

17.6%

11.2%

12.0%

226

100

154

600

244
8.0%

183

50

300

20.0%
16.0%

13.4%

900

365

18.3%

15.4%

200

1,234

Kobe Bussan’s Woody Biomass Power Plant

4.0%

41
0

0.0%
FY18 Q2

0
FY18 Q2

FY19 Q2

FY20 Q2

FY21 Q2

FY22 Q2

FY19 Q2

FY20 Q2

営業利益 profit
Operating

FY21 Q2

FY22 Q2

営業利益率
Operatingmargin12

◤◤ Eco Renewable Energy Business
Plant Locations

Solar Power:[Biomass]
Shiranuka-cho,
Hokkaido
6.2 MW

17 locations

32.1 MW

1 location

6.2 MW

Biomass:[Solar Power]
5 in Hokkaido
5.9 MW(as of April 30, 2022)[Solar Power]
1 in Shiga
0.5 MW[Solar Power]
4 in Hyogo
4.5 MW[Solar Power]
1 in Fukuoka
0.9 MW[Solar Power]
1 in Ibaraki
2.4 MW[Solar Power]
3 in Osaka
14.2 MW[Solar Power]
1 in Tokushima
2.1 MW[Solar Power]
1 in Wakayama
1.6 MW

13

◤◤ Shareholder Returns
Dividends
Dividend per Share<Yen>

Kobe Bussan regards returning profits to shareholders as one of key

25

management issues. Our basic policy is to secure funds necessary forour business growth and distribute profits to shareholders according20

to the operating results.

15

For FY2021, we had paid the annual dividends of ¥20.00 per share

17.8%

21.5%

5

For FY2022, we plan to pay the annual dividends of ¥21.00 per share.

0

Note: The figures in the graph on the right have been adjusted for the effect ofthe 2-for-1 stock splits carried out in November 2018, November 2019,

23.0%

25%
20%

16.6%

15%

10

according to the initial forecast.

22.1%

20.00

21.00

15.00
8.12
FY2018
2018年

and November 2020.

5%

10.00

FY2019FY20202019年
2020年
1株当たり配当金
Dividend
per share

10%

FY2022
2022年目標
Target配当性向(連結)
Payoutratio
FY2021
2021年

0%

Shareholder Benefit Program
The shareholder benefit program has been introduced to express Kobe Bussan’s gratitude for the continuous support of its shareholders
and to gain the deeper understanding of customers for its businesses. Subject to shareholders who hold 100 shares or more as of
October 31, 2021, we will send JCB Gift Card, which was changed from conventional incentives, Gyomu Super Gift Certificate.
Shareholder incentives
Number of shares held

Continuous ownership years
Less than 3 years

Continuous ownership years
3 years or more

100-999

JCB Gift Card ¥1,000

JCB Gift Card ¥3,000

1,000-1,999

JCB Gift Card ¥10,000

JCB Gift Card ¥15,000

2,000 or more

JCB Gift Card ¥15,000

JCB Gift Card ¥20,000

Note: Shareholders may opt to exchange the gift cards for an assortment of private label products worth the face value.

Sample14

◤◤ Consolidated Financial Forecast
Progress towards FY2022 Forecast
Q2 actual(Millions of yen)

Full-year forecast

Year on year

Progress towards
full-year forecast

Net sales

198,161

380,000

12.3%

52.1%

Operating profit

14,73328,800

2.4%

51.2%

Profit attributable toowners of parent

11,037

19,800

8.9%

55.7%

While considering risks of continuous cost rises such as unfavorable foreign exchange rates as well
as soaring prices of raw materials and ocean freights, we strive to achieve the above target throughadopting our sales strategy flexibly to business environment and making cost reduction efforts.

Gyomu Super Business Guideline towards FY2022 Forecast
FY2022 target

Target ofstore openings

Net increase of
60 stores

Product shipments
to existing stores

Higher thanFY2021 results

Action plan
Open stores focusing on the Kanto and Kyushu areas under
direct management.
Strengthen property data-gathering capability driven byheadquarters.
Prevent opportunity loss by increasing product supply
capacity.
Exceed FY2021 results, which were favorably impacted by the
COVID-19 infections.
15◤◤ Medium-term Management Plan
Medium-term Management Plan FY2022–FY2024
Basic policy
1. Grow our mainstay Gyomu Super Business by enhancing private label products.

2. Grow the delicatessen business in response to changes in Japan's social and economic
circumstances, represented by a lower birthrate and aging population, and the promotion of
women’s participation in the workplace.
3. Grow the restaurant business to meet the diversified food needs.
4. Promote social contribution activities and eco-friendly businesses through food.
5. Improve productivity by enhancing employee satisfaction as well as focusing on securing anddeveloping talented personnel.
6. Strive to increase the corporate value by strengthening initiatives for ESG issues and SDGs.

Consolidated Numerical Targets
FY2021 actual(Millions of yen)

FY2024 target

Net sales

362,064

410,000

Operatingprofit27,311

32,000ROE

29.2％

20% or higher foreach fiscal year of the plan16• This material contains forward-looking statements based onassumptions, estimates, and plans as of June 13, 2022.
• Please note that actual results may differ significantly from theseforward-looking statements due to uncertain factors arising fromchanges in the economic climate.
• This material is not intended to solicit and encourage purchase ofshares.
• This material has been translated from the Japanese original forreference purposes only. In the event of any discrepancy between
this translated material and the Japanese original, the original shallprevail.

For information regarding this material, please contact:

IR-Public Relations, Kobe Bussan Co., Ltd.
ir@kobebussan.co.jp