Business Results
Briefing(Fiscal Year Ending March 31,2023)
April 1, 2022-March 31, 2023

Mandom Corporation（Securities Code:4917）

mandom corp. All rights reserved. CONFIDENTIAL

Contents

1. Consolidated Business Results
2. Review of FYE 2023/March
3. Positioning and Key Themes
for FYE 2024/March
4. Progress of MP-13
5. FYE 2024/March Forecast◆ Appendix

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1

Summary of FYE 2023/MAR
・Consolidated Net Sales 67,047millions of yen
Consolidated Net Sales increased 16.9%, increased9.7% in Japan
Socio-economic activity is on the road to recovery, and overseas sales grew by more than
20%, surpassing the FYE 2021/MAR level. In Japan, sales of summer season products
increased and new products in the fall/spring contributed to the increase over the previous
year, but did not reach the FYE 2021/MAR level.

・ProfitOperating income and each income level returned to profitability.
Gross profit increased due to the effect of increased sales. Selling and administrative
expenses also decreased as a percentage of sales, Operating income was 1,409 million
yen. Ordinary income was 2,207 million yen. Business structure improvement expenses
651 million yen resulted in net income attributable to owners of the parent of 958
million yen.
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2

Difference from Forecast FYE 2023/MAR
・Net Sales
Consolidated net sales were 2.0 billion yen higher than expected.
The number of stores in Japan where new spring/summer products were introduced instores and early promotion of summer season products exceeded expectations.

・ProfitConsolidated operating income was 0.6 billion yen higher than expected.
The higher-than-expected sales in Japan led to an increase in gross profit, and as a result,consolidated operating income also exceeded the forecast. Recurring profit and net income
attributable to owners of the parent also exceeded forecasts.

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31. Consolidated Business Resultsmandom corp. All rights reserved. CONFIDENTIAL

4

1. Consolidated Business Results
1) Consolidated net sales increased 16.9%. exceeded in FY21/3,
when the company entered the Corona disaster.
（millions of yen）

Some items that had been processed as
expenses have been deducted from net sales atoverseas consolidated subsidiaries included infinancial statements prepared in accordancewith IFRS

100,000

80,00078,99778,865

81,774

YoY change+16.9%

67,04763,31060,00040,000processed as expenses have been
deducted from net sales in financial
statements prepared in accordancewith ASBJ Statement No. 29
Accounting Standard for Revenue
Recognition.

60,00457,361

81,38620,0000

FYE 2018/MAR

FYE 2019/MAR

FYE 2020/MAR

Consolidated net sales (former standard)mandom corp. All rights reserved. CONFIDENTIALFYE 2021/MARFYE 2022/MARFYE 2023/MAR

Consolidated net sales (new standard)51. Consolidated Business Results ＜Sales by Region＞
2) Sales increased in all regions.
Overseas sales in particular showed a strong recovery trend.
In Japan, sales of summer season products increased. In addition, both new fall/winterand spring/summer products were well received.
（millions of yen）
80,000+31.4％

14,178+ 9.7％

11,751

32,59535,769FYE 2022/MARFYE 2023/MAR

Japan
mandom corp. All rights reserved. CONFIDENTIAL

17,098+20.7％

13,01540,00067, 047

Indonesia

Others6

1. Consolidated Business Results ＜Net sales increase by segment＞
3) Strong recovery in Japan and other overseas countries,
plus positive impact of foreign exchange rates（millions of yen）

67,047+17.8%+9.7%+654

57,361+3,540+5.6%+2,315+3,174FYE 2022/MAR

Japan

Indonesia

OthersExchange
impactFYE 2023/MAR*Figures for Indonesia and other segments are converted to the previous fiscal year's rates.
mandom corp. All rights reserved. CONFIDENTIAL

77

1. Consolidated Business Results ＜Sales by Region＞
4) Sales increased in all regions.
Overseas sales are on a steady recovery trend.
Year-on-year change in sales from the recent quarter (less than a 5% change indicated by a horizontal arrow)

1Q

2Q

3Q

4Q

Net Sales+11.6%+11.2%+28.8%+17.0%

Japan

+8.4%

+3.8%

+8.7%

+19.5%

Indnesia+18.1%+16.7%+54.7%▲1.5%

Others+15.3%+27.3%+53.6%+30.7%

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1. Consolidated Business Results ＜Sales transition by Region＞
5) Recovery to levels above FYE 2021/MAR in all locations
・Overseas Businesses performed particularly well,with Southeast Asian countries recovering strongly.
42,756 *35,541*

32,595（millions of yen）

35,76917,791
12,102 11,751

FYE
2020/MAR

FYE
2021/MAR

FYE
2022/MAR

Japan

FYE
2023/MAR

FYE
2020/MAR

FYE
2021/MAR

FYE
2022/MAR

Indonesia

14,178FYE
2023/MAR

17,806
12,360 13,015

FYE
2020/MAR

FYE
2021/MAR

FYE
2022/MAR

17,098FYE
2023/MAR

Others※ The results for FYE 2020/MAR and FYE 2021/MAR have been calculated
according to ASBJ Statement No. 29 Accounting Standard
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91. Consolidated Business Results＜Net Sales by Strategic Business Unit＞

6) More than double-digit growth for both men and women.
Overseas make-up sales were particularly strong.

・GATSBY grew by more than double digits both in Japan and overseas.
Among women, overseas make-up "PIXY" and "SILKYGIRL" performed
particularly well due to increasing the opportunities to go out（millions of yen）
80,000+20.8％
7,214
40,00016,68533,4610

mandom corp. All rights reserved. CONFIDENTIALFYE 2022/MAR
Men's Business+20.3％

67, 047
8,718
20,078+14.3％
38,249FYE 2023/MAR
Women's Business
Others10

1. Consolidated Business Results7) Operating income also returned to profitability（millions of yen）
12,000

Profit turned
into a surplus

8,000

Ordinary Income

4,000

2,207

Operating Income

1,409
0

Net income attributableto owners of parent

958-4,000FYE 2018/MAR

FYE 2019/MAR

Operating Income

mandom corp. All rights reserved. CONFIDENTIALFYE 2020/MAR
Ordinary Income

FYE 2021/MARFYE 2022/MARFYE 2023/MAR

Net Income Attributable to Owners of Parent

11

1. Consolidated Business Results ＜Operating Income by Region＞
8) Japan returned to profitability due to increased sales.
Overseas and Others recorded a significant increase in profit.
・Indonesia also recovered 200 million yen due to increased sales,
but consolidated operating loss still 670 million yen（millions of yen）

1,409

2,000

+388.5％
1,802

1,000

0

-1,000-2,000

369

282
-676

-1,473-1,204-3,000FYE 2022/MAR
Japan
mandom corp. All rights reserved. CONFIDENTIALFYE 2023/MAR
Indonesia

Others12

1. Consolidated Business Results ＜Profit and loss ＞
9) Increased sales absorbed the sharp rise in raw material prices.
Gross profit increased by 5.2 billion yen.
・A&P expenses increased by 0.3 billion yen,
but operating income was 1.4 billion yen.
67,047Gross profit

Operating loss & expenses

57,36138,36233,964

5,226
3,034

FYE

FYE

2022/MAR2023/MARNet Sales

23,39828,684

10,432
1,400

Cost of sales

5,615-2,309FYE 2022/MAR FYE 2023/MAR
Selling, general and administrative expenses
Personnel expenses
Other general and administrative expenses
Gross profit

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5,561
3,442
11,280
1,402
5,587
1,409

FYE 2022/MAR FYE 2023/MAR
Other general and administrative expenses
Research and development expenses
Operating profit

13

2. Review of FYE 2023/MAR

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14

2. Review of FYE 2023/MAR

Most important issue for FYE 2023/MAR

・ Re-emphasize OYAKUDACHI toconsumers through products
・ Reduction in cost of sales
・ Return to profitability
in operating income

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2. Review of FYE 2023/MAR

Most important issue for FYE 2023/MAR
Re-emphasize OYAKUDACHI toconsumers through products
ResultLaunch of new products with new value propositions
・GATSBY 「META Rubber」
・Lucido-L 「Acid-Heat Treatment」
Aggressive introduction of new products with market reopening
・New product proposals that anticipate changes
in the environment at ACGI(Malaysia).

Issue

New Business Proposals Using Open Innovation
・Launched "EMOTIONS by mandom" original gift service.

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2. Review of FYE 2023/MAR

Most important issue for FYE 2023/MAR
Reduction in cost of sales
ResultCost reduction activities
・Achieved cost reduction of
50 million yen in the LCL hair oil series
・Improved gross profit by introducing new productswith higher unit price levels
・Focused sales expansion of high sales and low-cost
products in Indonesia

Issue

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Continued impact of higher-than-expected raw
material prices17

2. Review of FYE 2023/MAR

Most important issue for FYE 2023/MAR

・ Re-emphasize OYAKUDACHI toconsumers through products
・ Reduction in cost of sales
・ Return to profitability
in operating income

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18

2. Review of FYE 2023/MAR <Japan>
Net Sales by BusinessBusiness results by Brand
・In addition to an increase in opportunities to go out,
the introduction of new products in stores and the early launch ofsummer season products proceeded smoothly, resulting in increased
sales for all brands.

Japan・On the other hand, the market softened due to lifestyle protection

Status of our major brands
Men’s Businessmandom corp. All rights reserved. CONFIDENTIAL

Women’s Business19

2. Review of FYE 2023/MAR <Japan>
Net Sales by Business・New skincare series launched in August performed well.
・Steady expansion of summer season products by strengthening
early in-store merchandising.

Japan

・In February, "META RUBBER" was launched as a
new styling series for Generation Z.
The product became a hot topic mainly on SNS,and a TV commercial was launched in April as anadditional measure.
■GATSBY META RUBBER・Newly proposed “Acid-Heat Treatment," a trend originatingfrom hair salons, to the mass market, opening up a newmarket in the hair care category.
・The introduction of the product exceeded the plan due tohigh evaluation from retailers, The product was well received
by review sites and sales were strong.
・Launched in Taiwan, which performed well.
In other areas, we plan to start to follow.
mandom corp. All rights reserved. CONFIDENTIAL■LUCIDO-L Acid-Heat Treatment202. Review of FYE 2023/MAR <Indonesia>
Net Sales by BusinessBusiness results by Brand
・Gatsby saw a recovery in sales of its mainstay styling products.
・PIXY also grew due to the recovery of people flow and theeffect of sales promotions.

Indonesia

Status of our major brands (consolidated basis)
Men’s Businessmandom corp. All rights reserved. CONFIDENTIAL

Women’s Business21

2. Review of FYE 2023/MAR <Indonesia>
Net Sales by Business・Aggressive new product launches in response to the recoveryof consumers' purchasing motivation from the COVID disaster.

Indonesia

・In the mainstay category of hair styling, a new series waslaunched with trends.
・New fragrance products also performed well.
・The company plans to launch new products
aggressively this fiscal year.
■Gatsby The Naturel Styling Balm ■Gatsby Eau de Blue EDP・Aggressive promotion of the main product "PIXY Perfect Fit TWO WAY CAKE"
through TV commercials and others.
・Enhanced promotion of premium line
"Make It Grow" cushion foundation■PIXY Perfect Fit TWO WAY CAKE TV-CM
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2. Review of FYE 2023/MAR <Others>
Net Sales by Business

Others The four-year sales trend※Fluctuations in local currency based on FYE 2020/MAR

・Southeast Asia

Others+50%

Malaysia+0%

ACGI
ThailandSingapore-50%

Vietnam-100%

Philippines
FYE
2020/MAR

FYE
2021/MAR

FYE
2022/MAR

FYE
2023/MAR・East Asia
+50%
+0%

China
Taiwan

-50%
-100%

Korea
FYE
2020/MAR

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FYE
2021/MAR

FYE
2022/MAR

FYE
2023/MAR

23

2. Review of FYE 2023/MAR <Others>
Net Sales by Business・Promoted reduction of distribution costs in each overseas
country, resulting in a significant improvement in profitability.

Others・Completed the transition to a direct distribution system
and moved away from the sole agency system.
→Aiming to strengthen relation with Japanese retailers thatwill accelerate overseas store openings in the future.
・Strengthening overseas development of"SILKYGIRL," which is performing well.
・China began to recover with the end of
the zero-COVID policy, Accelerate efforts to expand
e-commerce business by strengthening digital marketing.

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3. Positioning and Key Themes for FYE 2024/Marchmandom corp. All rights reserved. CONFIDENTIAL

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3. Positioning and Key Themes for FYE 2024/March

Positioning for FYE 2024/March“Reformation and Challenges”
the last year of 「MP-13」
・Reduction in social and economic activities due to the spread COVID-19
・Extreme weather and climate change, such as cool summers and frequent
guerrilla downpours
・Global price hikes in energy, food, and raw materials
・Increased competition in the market due to the rise of the new brands

Gap from the initial plan due tothe above major changes in the external environment"MP-14" has been scrutinized once again, and brush up the plan
according to the current situation, focusing on preparations andenvironmental improvements to ensure a smooth and good start

Realization of "VISION2027”
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3. Positioning and Key Themes for FYE 2024/March
Internal Environmental Improvement for "Human-oriented”

Started operating a new HR system as a
「MHRX（Mandom HR Transformation)」

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3. Positioning and Key Themes for FYE 2024/March

Re-emphasize OYAKUDACHI toconsumers through products●To Respond to Changing Consumer Wants, shifting the
product portfolio and expansion the area for OYAKUDACHI●Introduce new products with new value propositions andtake on the challenge of entering new categories●Creating an organizational culture in which young marketing
staff can thrive
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4. Progress of MP-13

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29

4. Progress of MP-13

MP-13 Management Basic Policy
1. Evolution and challenges of category strategies andrenewal of company-wide marketing functions tothoroughly enhance brand values under a new normal
2. Speedy accomplishment of business rehabilitation inIndonesia and revamping of the overseas businessmodel
3. Transformation into a company that creates new value
through digitalization and open innovation
4. Enhancement of corporate value and evolution of
OYAKUDACHI centered on sustainable management
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4. Progress of MP-13
Main initiatives in the previous fiscal year of Management basic policy
MP-13 Management basic policy

Main Initiatives

Evolution and challenges of category
strategies and renewal of company-wide
marketing functions to thoroughly enhancebrand values under a new normal

・Raise the unit price of new products through value-added
proposals
・Men's cosmetics portfolio shift (enhanced skin care)・Launching "gatsby the DESIGNER" and others as
challenges for small market

2

Speedy accomplishment of businessrehabilitation in Indonesia and revampingof the overseas business model・Reinforcement of distribution with an emphasis on
traditional trade by re-engaging with local distributors forreopening.
・Launch of new fragrance products in grass bottle
containers
・Strengthen production and sales with emphasis on Sranked products to improve profitability

3

Transformation into a company that creates
new value through digitalization and open
innovation

・Creating in-house success in digital use for new value
creation.(Digital Transformation Certified Companies)
・Study for new business proposals utilizing open innovation

4

Enhancement of corporate value andevolution of OYAKUDACHI centered onsustainable management

・Expansion of environmentally friendly products in Japan・Promotion of Health Management in Japan. (2023 CertifiedHealth & Productivity)
・Sustainable palm oil procurement response
・Reducing plastic use in Indonesia

1

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31

4. Progress of MP-13
Progress of management basic policy
MP-13 Target

Growthpotential

Consolidated Net sales
Target gap*181,500Millionsof yenPre MP-13

1st year

2nd year

2021/32022/32023/363,31057,362

67,047-21,638-11,953

10.7% or higher-22.6%

-4.4%

+5.7%

Men’s business CAGR

6.0% or higher-20.0%

-5.8%

+3.8%

Women’s business CAGR

16.0% or higher-27.7%

-6.7%

+5.9%

Overseas business CAGR

17.0% or higher-31.3%+1.2%+13.1%

Consolidated Operating income

8.0% or higher

-1.3%

-4.0%

+2.1%

Consolidated ROIC

7.0% or higher

-0.3%

-1.7%

+2.1%

40% or higher

166.9

ー *２

178.3%CAGR

Profitability
Shareholder Dividend payout ratio
Returns*1 81.5 billion yen to 79.0 billion yen simply converted to the new revenue recognition standard.
*2 Due to the recording of net loss attributable to owners of the parent company
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32

4. Progress of MP-13
Progress of management basic policy【Response to social issues】
All targets are for the final year (FYE 2024/3)【Japan】
MP-13 Target

Item
Composition of environmentally friendly products in Japan(Cleared internal voluntary standards)

60% or higher【Indonesia】
Item

MP-13 Target

1st year

2nd year

2022/32023/346%

54%

1st year

2nd year

2022/32023/3

Plastic Containers and Packaging Used

(Compared to FY2017/3)

10% reduction

39%

39%

Plastic waste volume(Compared to FY2017/3)

10% reduction

43%

57%

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33

4. Progress of MP-13
Medium to long-term goals for material issues (Materiality) in sustainability
https://www.mandom.co.jp/en/csr/connectionto-sdgs.html

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34

5. FYE 2024/MAR Forecast

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35

5. FYE 2024/MAR Forecast
FYE 2024/March Forecast of Consolidated Business Results(Millions of yen)
FYE2023/MAR

FYE2024/MAR
AnnualPlan

Balance

1Q+2Q
Yr/Yr

Plan

BalanceAnnual
Yr/Yr

1Q+2Q

ResultNet Sales

71,0003,952

105.9%

35,5002,847

108.7%

67,04732,652

Operating Income

2,100

690

149.0%

1,420

381

136.7%

1,409

1,038

Ordinary Income

2,590

382

117.3%

1,750

387

128.5%

2,207

1,362

Net Income
Attributable to
Owners of Parent

1,660

701

173.2%

1,300

325

133.4%

958

974

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36

5. FYE 2024/MAR Forecast
FYE 2024/March Consolidated Net Sales Forecast
・Recovery of socioeconomic activities from COVID effects in both
Japan and Asian countries
・Japanese market recovers moderately, but outlook uncertain with waryof high prices
・Indonesia and other Southeast Asian countries are expected to grow at a high rate

【Net Sales Given conditions of the forecast】+） ・Aggressive investment in new products that raise the unit price of
products by adding value both domestically and internationally+） ・Expand sales by strengthening early deployment and sales promotionof summer season products in Japan+） ・Sales expansion of GATSBY and PIXY in Indonesia+)

・Recovery from COVID has run its course, but high growth continues insoutheast countries.

+） ・Recovery trend in China with the end of the zero-corona policy
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37

5. FYE 2024/MAR Forecast
FYE 2024/March Consolidated Income Forecast【Operating Income Given conditions of the forecast】+）

・Increase in revenue due to higher sales in Japan and overseasー） ・Transition from a policy of thorough cost reduction to a policy ofefficient cost investmentー） ・Impact of raw material price hikes exceeding those of the previous
fiscal year and continuation of high cost environment【Risk】
・Sluggish demand for cosmetics and daily necessities due to the impact ofrising prices in Japan・Raw material prices and transportation costs soared higher than expected inJapan and overseas.
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38

5. FYE 2024/MAR Forecast
FYE 2024/MAR Forecast for the Impact of Soaring Raw Material Prices*Comparison with FYE 2022/MAR(millions of yen)

+3,000+2.75B+2,500+2,000＋1.5B+1,500FYE 2024/MAR
Range of increase+1.25B+1,000＋1.25B+500+0

FYE 2023/MAR
Range of increase±0
FYE 2022/MARFYE 2023/MAR
１Q

２Q

３Q

FYE2024/MAR

４Q

・Although raw material price hikes peaked in the 4Q of the previous fiscal year, raw material
prices declined moderately. With the increase in sales, the impact on cost of sales is
expected to be more than that of the previous year.
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39◆Appendix

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40

Contents

1. Consolidated Business Results
2. Consolidated Net Sales
3. Consolidated Income
4. P/L of Mandom Corporation,
PT Mandom Indonesia Tbk

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41

1. Consolidated Business Results(Millions of yen)
AnnualBalance

Yr/Yr

Yr/Yr*

Achiev.
vs Revised

FYE2022/MAR

FYE2023/MAR

Net Sales

57,361

67,0479,685

116.9%

110.7%

103.1%

Operating Income-2,308

1,409

3,718

－

－

－

Ordinary Income-1,856

2,207

4,064

－

－

－

-621

958

1,580

－

－

－

Net Income Attributable to
Owners of Parent＊Comparison with FYE 2022/MAR rate after adjustment.

ROE

-1.0%

1.5%

EPS

¥-13.84¥21.31

Payout Ratio－

178.3%

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42

2. Consolidated Net Sales
2-1. Net Sales by Region(Millions of yen)
Annual

57,361

67,0479,685

116.9%

Japan

32,59535,7693,174

109.7%

Indonesia

11,751

14,1782,427

120.7%

Others13,01517,0984,083

131.4%

2-2. Net Sales by Region Analysis(Year-on-Year)(Millions of yen)Japan
Indonesia

Yr/Yr

FYE2023/MAR

Net Sales

Consolidated

Balance

FYE2022/MAR

2-3. Net Sales by Region Ratio (Year-on-Year)
Asia 43.2%

Asia 46.7%

22.7%

25.6%

20.5% 56.8%

21.1%

9,685
3,174
2,427

Others

4,083

FYE 2022/MAR
Japan

mandom corp. All rights reserved. CONFIDENTIAL

53.3%

FYE 2023/MAR
Indonesia

Others43

2. Consolidated Net Sales
2-4. Net Sales by Strategic Business Unit

(Millions of yen)
AnnualBalance

Yr/Yr

FYE2022/MAR

FYE2023/MAR

57,361

67,0479,685

116.9%

Men's Business

33,461

38,2494,787

114.3%GATSBY

25,333

29,662

4,328

117.1%

Women's Business

16,68520,0783,393

120.3%

Other Business

7,214

8,718

1,503

120.8%Net Sales※breakdown :Women’s Cosmetics 11,923 Millions of yen (Yr/Yr 131.8%) / Women's Cosmetry 8,155 Millions of yen (Yr/Yr 106.8%)

Men’s Business
FYE 2023/MAR
Results
Total

GATSBY

Women’s Business
GrowthRate

FYE 2023/ MAR
Results

GrowthRate

20,078+20.3%FYE 2023/MAR Growth
Results
Rate

38,249+14.3%

Total

29,662+17.1%

Bifesta

Lucido-L

PIXY

PucelleLucidoJapan
mandom corp. All rights reserved. CONFIDENTIAL

Asia

Japan

(Millions of yen)

Asia

44

2. Consolidated Net Sales
2-6. Year-on-Year Comparison by Region and BusinessJapan

Indonesia

Total

+9.7%

+20.7%

Men's Business+11.1%+16.7%

Women's Business+6.1%※ Breakdown
Women’s Cosmetics +17.3%
Women's Cosmetary +0.4%※ Others +7.9%

mandom corp. All rights reserved. CONFIDENTIAL+28.5%※ Breakdown
Women’s Cosmetics +41.8%
Women's Cosmetary +9.7%※ Others+13.3%

Others+31.4%+25.1%+34.7%※ Breakdown
Women’s Cosmetics +34.2%
Women's Cosmetary +36.9%※ Others +38.7%

45

3. Consolidated Income
3-1. Operating Income by Region(Millions of yen)
AnnualFYE2022/MAR

ResultFYE2023/MAR

per Sales

Resultper Sales

Balance

Yr/YrOperating Income-2,308

ー

1,409

2.1%

3,718

－

Japan

-1,473

ー

282

0.8%

1,755

－

Indonesia-1,204

ー

-676

ー

528

－

1,802

10.5%

Others369

2.8%

3-2. Operating Income/Loss
by Region Analysis (Year-on-Year)

488.5%

3-3. Operating Income/Loss by Region Ratio(Year-on-Year)(Millions of yen)

Consolidated

3,718

Japan
Indonesia

1,433

1,755

※ Due to operating loss
in Indonesia segment

528

Othersmandom corp. All rights reserved. CONFIDENTIAL

N/A

1,433

46

3. Consolidated Income
3-4. Operating Cost Analysis (Year-on-Year)
Operating Cost Total

Cost of Goods

Consolidated

Indonesia

Japan

OthersSelling Expenses(Millions of yen)

Admin. Cost

2,649
5,966

1,726
1,898

4,398

1,418

1,417
1,255

743

3-5. Operating Cost & Income (Ratio to Sales)
Consolidated

Japan

59.2%

57.2%

51.4%

50.4%

14.4%

13.4%

16.6%

16.0%

30.4%
-4.0%

27.3%
2.1%

36.5%

32.9%
0.8%

FYE 2022/MARFYE 2023/MAR

mandom corp. All rights reserved. CONFIDENTIAL-4.5%

FYE 2022/MARFYE 2023/MAR

382
53
307
Cost of Goods

Admin. Cost

Selling Expenses

OP Income/LossIndonesia

83.5%
4.3%
22.4%
-10.3%FYE 2022/MAR

541
427
▲ 144

824

79.2%
4.0%
21.6%
-4.8%

FYE 2023/MAR

Others

56.8%

53.3%

18.1%

16.0%
20.1%
10.5%

22.3%
2.8%

FYE 2022/MARFYE 2023/MAR

47

3. Consolidated Income
3-6. Analysis of Change in Consolidated Operating Income(Millions of yen)mandom corp. All rights reserved. CONFIDENTIAL

48

3. Consolidated Incomes
3-6. Ordinary Income and Net Income Attributable to Owners of Parent(Millions of yen)
AnnualFYE2022/MAR
Resultper Sales
452

Non-operating Income/Expenses-1,856

Ordinary Income-762

Income before Income Taxes and Minority Interestsーー

per Sales

Balance

Yr/Yr

798

1.2%

345

2,207

3.3%

4,064

ー

▲ 1,712

ー
ー

1.9%

72

Income Taxes and Minority Interests

Result

0.8%

1,094

Extraordinary Profit/Loss

FYE2023/MAR

-617

ー

1,589

2.4%

2,351

571

0.9%

499

0.1%

176.5%

790.0%Net Income

-834

ー

1,018

1.5%

1,852

ー

Net Income Attributable to Non-controlling interests

-212

ー

59

0.1%

272

ー

-621

ー

958

1.4%

1,580

ー

Net Income Attributable to Owners of Parent

3-7. Non-Operating Income/Expenses & Extraordinary Profit/Loss
Non-Operating
Income/Expenses

Extraordinary
Profit/Loss

798
Dividend income(Millions of yen)

617

Foreign exchange gains
Other

934

Non-Operating
IncomeShare of profit of entities
accounted for using equity method
Interest expenses

Gain on sales of noncurrent assets

Extraordinary
ProfitGain on sales ofinvestment securities

Interest income

Non-Operating
Expenses

136
Other

mandom corp. All rights reserved. CONFIDENTIAL

Compensation expenses
Commitment fee

Extraordinary
Loss

668

50
Loss on retirementof non-current
assetsBusiness structure improvement expenses49◆ Appendix
Results of FYE 2023/MAR (P/L of Mandom Corporation, PT Mandom Indonesia Tbk)
Depreciation,Capital Investment

Mandom Corporation
FYE2022/ FYE2023/
MAR
MAR(Millions of yen)balance

Yr/Yr■Consolidated

FYE 2024/MAR
OutlookFYE2022/M FYE2023/
AR
MAR(Millions of yen)balance

FYE 2024/MAR
OutlookNet sales

36,10240,3104,207111.7%

42,000Depreciation

5,337

4,988

▲ 348

4,447

Cost of Goods

20,432

22,245

1,813

108.9%－

Capital investment

2,345

1,856

▲ 488

2,806

Cost Ratio

56.6%

55.2%

-1.4P

Selling, general andadministrative expenses

16,937

17,112

174

Operating Income-1,266952

2,219

Non-operating Income/Loss

1,635

570

Ordinary Income

369

Extraordinary Profit/loss

Net Income－
101.0%－－■Mandom Corp.Only(Millions of yen)
FYE2022/ FYE2023/ balance
MAR

－

－

▲ 1,06434.9%－

Depreciation

3,605

3,254

▲ 351

1,523

1,154

412.8%

1,950

Capital investment

1,691

981

▲ 710

1,075

-617

▲ 1,693-57.4%－※Capital investment includes intangible assets

1,344

561

▲ 782

41.8%

1,540

PT Mandom Indonesia Tbk
Local Currency(Millions of Rp.)

Yen Equivalent(Millions of yen)
FYE2022/ FYE2023/
MAR
MAR

FYE2022/ FYE2023/
MARMARbalance

Yr/Yr

Net sales

1,850,311 2,044,821

194,510110.5%Net sales

14,247

17,994

3,747

126.3%

Cost of Goods

1,544,655 1,633,386

88,731105.7%

Cost of Goods

11,893

14,3732,479

120.9%

balance

Yr/YrCost Ratio

83.5%

79.9%

-3.6P

－

Cost Ratio

83.5%

79.9%

-3.6P

－

Operating Income-99,524

5,847

105,372－

Operating Income

-766

51

817

－

Net Income-76,507

18,10994,617－Net Income

-589

159

748

－

Rp.1=￥0.0077 Rp.1=￥0.0088※Assumption rate FYE 2024/MAR
Rp.1=￥0.0084
mandom corp. All rights reserved. CONFIDENTIAL

50

Regarding Forward-Looking Statements

Information in this report concerning future performance is based on information available
and certain assumptions deemed reasonable. Forecasts are not promises of future
performance. Actual earnings may differ significantly from forecasts due to a number offactors. All amounts have been rounded to the nearest whole unit.

mandom corp. All rights reserved. CONFIDENTIAL

51

mandom corp. All rights reserved. CONFIDENTIAL