Supplementary Material to Financial Results
Third Quarter of the Fiscal Year Ending December 2023

Nishimoto Co., Ltd.
November 13, 2023
2023 Nishimoto Wismettac Group All rights reserved.

0Table of Contents
2023 Nishimoto Wismettac Group All rights reserved.

1.

Summary2.

Summary of Financial Results for the Third
Quarter of the Fiscal Year Ending December
2023

3.

Policy of Returning Profits to Shareholders

4.

(Reference) Medium-Term Business Plan
(Extract)5.

(Reference) Wismettac Group Profile1

Summary
Financial Results for the Third Quarter of the Fiscal Year Ending December 2023
◆ Continuing from the first half of the year, the Asian Foods Global Business drove performance, resulting in year-on-year increases in both net sales and profits.
Same period last year

Net sales

202.3 billion yen

Operating income

8.3 billion yen

Ordinary income

8.7 billion yen

Net profit

5.7 billion yen*

Current period

Net sales

223.6 billion yen

Operating income

8.8 billion yen

Ordinary income

9.9 billion yen

Net profit

6.7 billion yen*

*Net income attributable to owners of parent

Revision of the Annual Earnings Forecast for the Fiscal Year Ending December 2023
◆ We have revised our annual forecast for ordinary income upward in view of the results through the third quarter, the current situation, etc.
Before revision<Disclosed at the end of
the second quarter>

Net sales

304.0 billion yen

Operating income

12.0 billion yen

Ordinary income

12.5 billion yen

Net profit

7.5 billion yen*

After revision

Net sales

304.0 billion yen

Operating income

12.0 billion yen

Ordinary income

13.5 billion yen

Net profit

7.5 billion yen*

◆ The average exchange rate for the full-year forecast remains unchanged. ($1 = 135 yen)

*Net income attributable to owners of parent

Medium-Term Business Plan (2024–2026)◆ In October 2023, we will announce the Wismettac Group’s medium to long-term business policies, initiatives, and targets.
M&A to◆ We will achieve net sales of 500 billion yen and operating income of 25 billion yen in 2026 through the organic growth* of existing businesses. * Including
be implemented◆ The company will establish a strategic investment quota of 100 billion yen through operating cash flows and new fundraising.
◆ For details, please refer to the Formulation of the Medium-Term Business Plan (2024–2026) to be disclosed on October 16, 2023.
2023 Nishimoto Wismettac Group All rights reserved.

2

Table of Contents
2023 Nishimoto Wismettac Group All rights reserved.

1.

Summary2.

Summary of Financial Results for the Third
Quarter of the Fiscal Year Ending December
2023

3.

Policy of Returning Profits to Shareholders

4.

(Reference) Medium-Term Business Plan
(Extract)5.

(Reference) Wismettac Group Profile3

Summary of Financial Results for the Third Quarter of
the Fiscal Year Ending December 2023
Financial Results for the Third Quarter of the Fiscal Year Ending December 2023
◆ Net sales increased 10.5% year on year.
➢ In the Asian Food Global Business (hereinafter referred to as "AFB"), net sales increased year on year due to strong sales conditions in each region.
➢ In the Agricultural & Seafood Products Trading Business, shipments of imported fruits and vegetables and frozen processed food remained strong,resulting in a year-on-year increase in net sales.
◆ Operating income increased 5.9% year on year.

➢ In the mainstay AFB, in addition to strong sales conditions, the profit margin improved year on year, especially in Asia and Australia. In the Agricultural& Seafood Products Trading Business, profits increased year on year in the entire group as a result of efforts to secure profits through priceadjustments mainly in the domestic market business.
(Unit: billions of yen)

Operatingresults

FY ended December 2022

FY ended December 2023

3rd quarter(Jul-Sep)

3rd quarter(Jul-Sep)

Net sales

202.3

71.6

223.6

77.3

+21.3

+10.5%

Gross profit

40.7

14.0

46.0

16.2

+5.4

+13.2%

Operating income or loss(△)

8.3

2.3

8.8

3.1

+0.5

Ordinary income or loss(△)

8.7

2.2

9.9

3.5

Quarterly net income or loss(△)
attributable to owners of parent

5.7

1.2

6.7

2.3

Yen/Dollar exchange rate
(Average rate during the period)

Quarterly net income or loss(△) per share2023 Nishimoto Wismettac Group All rights reserved.

Changes year-on-year<Reference>
FY2023 full-year
forecast*
Progress

304.0+73.6%

+5.9%

12.0

+7.3%

+1.3

+14.6%

13.5

+7.4%

+1.0

+17.8%

7.5+8.9%

128.05 yen

138.11 yen+10.06 yen

395.70 yen

466.32 yen+17.8%* Revised forecasts
Refer to page 2

4

Operating Results by Segment for the Third Quarter of
the Fiscal Year Ending December 2023
Asian Food Global Business (AFB)◆ Net sales increased 10.6% year on year (+9.5% YoY in North America, +16.2% YoY in Europe, +14.8% YoY in Asia and Australia).
➢ Sales strategies in each region were successful with expanded sales to major grocery chains, strong sales to chain restaurants in Europe, etc.
◆ Operating income increased 10.1% year on year. Although the profit margin declined in North America, it improved in Asia, Australia, etc., resulting in a year-on-yearincrease in profits for the entire AFB.

Agricultural & Seafood Products Trading Business◆ In the same period of the previous fiscal year, the rise in the cost of goods purchased due to logistics disruptions, the sharp depreciation of the yen, etc. had asignificant impact on sales. In the period under review, the logistics situation improved despite the lingering impact of the yen's depreciation, etc. Net sales increased
year on year due to steady shipments of imported fruits and vegetables, mainstay products, and frozen processed food.
◆ Profits increased year on year as a result of efforts to improve the profit margin through price adjustments mainly on frozen processed food.
(Unit: billions of yen)

Business segments

FY ended December 2022

FY ended December 2023

3rd quarter3rd quarter(Jul-Sep)(Jul-Sep)

AFB

Other

57.4

174.6

61.1

+16.8

+10.6%

+4.5

+2.8%

9.7

3.1

10.6

3.9

+1.0

+10.1%

+0.2

+2.2%

42.1

13.4

46.3

15.3

+4.2

+10.0%

+3.6

+8.6%

▲ 0.6

▲ 0.5

▲ 0.4

▲ 0.3

+0.2

-

+0.3

-

2.5

0.8

2.7

0.9

+0.3

+11.0%+0.3+11.0%

▲ 0.2

▲ 0.1

▲ 0.2

▲ 0.1

+0.0

-

+0.0

-

-

-

-

-

-

-

-

-

Operating income or loss(△)

▲ 0.5

▲ 0.2

▲ 1.2

▲ 0.4

▲0.7

-

▲0.7

-

Net sales

202.3

71.6

223.6

77.3

+21.3

+10.5%

+8.3

+4.1%

8.3

2.3

8.8

3.1

+0.5

+5.9%

▲0.2

▲2.8%

Net sales
Operating income or loss(△)

Net sales
Operating income or loss(△)

Adjustment

Total[Less impact of foreign
currency translation]
Changes year-on-year

157.8

Net sales
Operating income or loss(△)

Agricultural &Seafood Products
Trading BusinessChanges year-on-year

Net sales

Operating income or loss(△)

2023 Nishimoto Wismettac Group All rights reserved.

5

Major Factors Affecting Year-on-Year Changes in Operating Income(Unit: billions of yen)

8.8

0.3
▲0.1
▲0.1

0.3

▲0.7

0.7

8.3

FY2022 3Q[AFB]
Change in net sales

2023 Nishimoto Wismettac Group All rights reserved.

[AFB]
Change inprofit margin[Agricultural &Seafood Products]
Change in net sales[Agricultural &Seafood Products]
Change in profit
marginOther
Impact of foreign
adjustments, etc. currency translation

FY2023 3Q

6

Consolidated Balance Sheet (Summary)Financial Policy

At the Tokyo Exchange's Prime market, balance the proactive investments to expand business and stabledividend in order to achieve sustainable growth with healthy financial foundation(Unit: billions of yen)

End of 12/2022

End of 9/2023

Main reasonsfor changes

Changes

Current assets

151.0

177.7

+26.7 Cash and deposits +21.3

Non-current assets

28.2

31.8

+3.6 Lease assets (Net) +1.7

179.2

209.5

+30.2

Current liabilities

33.6

39.4

+5.8 Trade payables +3.2

Non-current liabilities

73.5

85.6

+12.1 Long-term loans payable +10.0

Total liabilities

107.2

125.1

+17.9

Total net assets

72.1

84.4

+12.3 Retained earnings +4.5

Total liabilities and net assets

179.2

209.5

+30.2

132.70 yen

149.58 yen+16.88 yen

Shareholders’ equity ratio

40%

40%

+0pt Medium-term plan target 30% - 40%

Current ratio

449%

450%

+1pt

Total assets

Yen/Dollar exchange rate
(Year-end rate)

Foreign currency translation adjustment +8.7

➢ Retrospective application of changes in tax effect accounting standards for certain foreign subsidiaries for the previous fiscal year end (December 31, 2022)➢ Insignificant impact on retrospective application on total assets and profit attributable to owners of parent

2023 Nishimoto Wismettac Group All rights reserved.

7

Sales Composition Ratio by Region● Consolidated sales (Entire Group)2023 Nishimoto Wismettac Group All rights reserved.

*Sales to external customers
Unit: billions of yen

SSP (Germany 2020/2),
C3C (France 2020/7)
joined the WMC Groupas consolidated
subsidiaries

Sco-Fro Group(Scotland 2021/2)
joined the WMC Group
as a consolidated
subsidiary

BCM (Singapore
2022/1) joined the
WMC Group as aconsolidated subsidiary8

Progress of Business Performance of Fiscal YearEnding December 2023 (by Existing and New Business)
Planning
assumption

In the revised annual profit earnings forecast, the yen/dollar exchange rate for the period isassumed to be $1 = 135 yen.

Entirecompany

Existing

AFB

Agricultural &Seafood
Products

Domestic
BtoC

New

FY2023
Forecast afterrevision

FY2022
Results

Unit: billions of yen

FY2023Resultsthrough Q3

Sales

275.2

304.0

223.6

Profit

10.5

12.0

8.8

Sales

261.3

286.2

211.6

Profit

12.5

13.4

10.1

Sales

212.9

232.8

171.5

Profit

13.0

13.5

10.3

Sales

44.6

49.4

37.5

Profit

▲0.5

▲0.1

▲0.1

Sales

3.8

4.1

2.7

Profit

0.0

▲0.0

▲0.1

Sales

13.9

17.8

12.0

Profit

▲2.0

▲1.4

▲0.9

2023 Nishimoto Wismettac Group All rights reserved.

FY2023 Policies•

Despite the headwinds caused by lower profit margins due to thenormalization of the supply-demand balance and higher SG&A expenses
due to accelerating inflation, the entire Group achieves to increase sales
and profits.

•

AFB aims to maintain its strong performance in North America whileworking to improve profit margin outside the region.
The Agricultural & Seafood Products Trading Business segment will work
steadily to improve profitability despite expected headwinds.

•••

We will work to strengthen sales of processed food to retailers andincrease profitability outside North America, even though the profit
margin of raw materials of food is expected to fall as the supply-demandbalance normalizes and SG&A expenses are expected to increase due to
inflation.
We will work steadily to improve profitability by clarifying productspecific strategies and improving the accuracy of purchase and sales
plans, even though quality issues in producing areas and headwinds onimported fruits and vegetables due to the depreciation of the yen are
expected to continue.

•

We will work to expand the lineup of products that we offer and sales
channels, even though profit margins are expected to be affectedsignificantly by the ongoing depreciation of the yen.

•

While continuing our investments to create new businesses, we will
focus on expanding sales through new sales channels (see the nextpage).

9

Annual Earnings Forecasts for the Fiscal Year Ending
December 2023 (Breakdown of New Businesses)

FY2022
Results
Unit: billions of yen

New

AFB

Agricultural &Seafood
Products

Domestic
BtoC

Other
solutions

FY2023
Forecast afterrevision

FY2023Resultsthrough Q3

Sales

13.9

17.8

12.0

Profit

▲2.0

▲1.4

▲1.3

Sales

3.3

5.4

3.1

Profit

▲0.8

▲0.3

▲0.2

Sales

10.6

12.3

8.8

Profit

▲0.4

▲0.2

▲0.4

Sales

0.0

0.0

0.0

Profit

▲0.0

▲0.0

▲0.0

Sales

0.0

0.1

0.1

Profit2023 Nishimoto Wismettac Group All rights reserved.

▲0.8

▲0.8

▲0.6

Main Business Activities

FY2023 Policies•••

Development of new sales channels
Development of new solutions•

Sales of Asian food to large retailers in
Europe••Expansion of retail sales channels overseas
Expansion of sales of agricultural products
grown in Japan and/or the agricultural
products of a Japanese variety to overseas
customers, mainly in Asia•

Omni-channel sales of brands that arehandled by the Company•

Development of B-to-B or B-to-C digitalsolutions
Collaboration with startup companies infood-related fields
Development and sales of food products fordisease patients and elderly people

•
•

•

•
•

Achieve sales growth by leveraging
the customer base of acquiredcompanies
Establish a PDCA system in the Other
Solutions Business segment
Expand product for U.K. retailers
mainly through Sco-Fro
Start developing sales channels toretailers in continental Europe•

Expand retail sales channels in
Singapore through BCM•

Start creating online and off-line
platforms designed to serve as acustomer touchpoint••

Develop digital services
Establish a PDCA system tostrengthen gate review on projects at
the PoC stage

10

Breakdown of Strategic Investment
Amount(including expenses/billions of yen)

Aims
1

Expansion
Business Fields

2

Sales Channel
Development andSystem Enhancement(Strengthening Interregional
Cooperation)

3
Strengthening
Profitability of
Existing Businesses

4

Development of
New Businesses
Derived from
Existing
Businesses

2023 Nishimoto Wismettac Group All rights reserved.

Measures◆ Diversification of the business portfolio◆ Creation of new businesses that
integrate food, healthcare, etc. (newsolution development business)◆ Building business strategies forstrengthening mainstream sales channel,
etc., and building business strategies fordeepening transactions◆ Strengthening management andoperational capabilities in each region◆ Product development and mainstream
sales channel development in Europe
and China◆ Further expansion of the private brandproduct lineup◆ Development of health-conscious products◆ Enhancement of the productdevelopment divisions◆ Improve operational efficiency andinformation security◆ Improve accuracy of SCM operations

2022

2023

Results

Plan

Resultsthrough Q3

0.8

0.9

0.5

1.1

1.1

0.5

0.1

0.2

0.1

0.2

0.6

0.2

◆ Strengthening of overseas regional
management systems◆ SCM and IT infrastructure
investments◆ Build a more customer-orientedorganization◆ Strengthen in-house collaboration acrossdivisions and departments◆ Organizational
revitalization/streamlining

0.1

0.1

0.1

◆ Capturing growth in overseas markets◆ Construction of a mechanism foroverseas export of Japanese
agricultural products

0.3

0.3

0.3

◆ Capturing food service businesses
responding to the New Normal lifestyle◆ Development of new services to therestaurant industry (New Normal
eating habits)

0.1

0.3

0.1

2.7

3.5

1.8
11

Table of Contents
2023 Nishimoto Wismettac Group All rights reserved.

1.

Summary2.

Summary of Financial Results for the Third
Quarter of the Fiscal Year Ending December
2023

3.

Policy of Returning Profits to Shareholders

4.

(Reference) Medium-Term Business Plan
(Extract)5.

(Reference) Wismettac Group Profile

12

Policy of Returning Profits to Shareholders
Basic Policy◆ The company will continue to pay stable dividends while securing internal reserves for future business development and strengthening thefinancial structure.
◆ The company considers the dividend payout ratio as an important indicator and aims for a consolidated dividend payout ratio of
approximately 30% for the full year.

Dividends Forecast
Interimdividend

Increased by 10 yen from the initial forecast
to 80 yen, the highest interim dividend since
our stock listing.

Annualdividend

The annual dividend will be 160 yen(The highest annual dividend since our stocklisting).

Dividend
payoutratio

The full-year consolidated dividend payout
ratio is 30.6% (Forecast).

Full-year consolidated
dividend payout ratio

2023 Nishimoto Wismettac Group All rights reserved.

28.2%

30.0%

30.5%

30.6%
13

Table of Contents
Table of Contents

1.

Summary2.

Summary of Financial Results for the Third
Quarter of the Fiscal Year Ending December
2023

3.

Policy of Returning Profits to Shareholders

4.

(Reference) Medium-Term Business Plan
(Extract)5.

(Reference) Wismettac Group Profile
Materials for the Medium-Term Management Plan
(2024–2026) can be found by using this QR link.

2023 Nishimoto Wismettac Group All rights reserved.

14

Executive Summary◼

◼

Within the Asian Food Global Business (hereinafter referred to as AFB), the company commits to achieve a sales of 500
billion yen and an operating income of 25 billion yen through organic growth of existing businesses by 2026 (*1). The
company plan a 2% profit margin increase by expanding sales in existing sales channels (mainly mainstream), increasing PB
production, reducing product costs through global EtoE integration of SCM, and reducing operating expenses throughdigitalization and investments in logistical efficiency.
In addition to the above, the company has generated 100 billion yen (*2) through operating and financial cashflow, andallocated the 100 billion yen (*2) for strategic investments mainly in the follow three areas;
1. M&A and JVs to gain presence in unexplored regions within the AFB business, upfront investments in
products/resources for which there are potential concerns regarding supply shortages in the future, investments toimprove in-house production capability such as R&D and RTE products development, upfront investments in upstream
areas where expansion is expected in the future such as plant-based seafood/meat and land-based aquaculture.
2. Investments in overseas production and sales of Japanese fruits and vegetables holding exclusive cultivation rights
3. Investments in the food industry solutions business and domestic/international food technology (including theacquisition of startup businesses with synergy).

◼

Maintain equity ratio of 30-40% and dividend payout ratio of 30%◼

Manage financial, market, geopolitical, and other risks while responding to uncertainties<Note-1> Assumed average exchange rate during the period of the mid-term business plan: USD = 135 JPY<Note-2> As export products from Japan account for 15% of the AFB in North America and they offset foreign exchange reserveswith the imported fruit, vegetable and the other products, the actual impact caused by USD/JPY exchange rate
fluctuations on our business is minimal (*3)<Note-3> As the mid-term business plan will be fixed and unchanged for three years, the next mid-term business plan (20272029) will be announced in 2026 or later (*4)

2023 Nishimoto Wismettac Group All rights reserved.

(*1) Including M&A transactions which are currently planned and under implementation(*2) Cash and cash equivalents at the end of 2023 are expected to be 100 billion yen(*3) Excluding the impact of conversion of financial statements of foreign subsidiaries resulting from exchange rate
fluctuations on consolidated results(*4) Plans will be revised and announced as deemed necessary due to major changes in the business environment

15

Three-Year Business Plan (Organic)* Including only scheduled M&As.
Un-planned M&As are additional opportunities to be overlayed.

(billion yen)(billion yen)

FY2022 FY2023 FY2024
Results Forecast
Plan

FY2025Plan

FY2026
Plan

Sales

275.2

304.0

354.0

430.0

500.0

Operating
Income

10.5

12.0

15.0

19.0

25.0

OperatingMargin

3.8%

3.9%

4.2%

4.4%

5.0%

ROWC

21%

21%

24%

27%

31%

(Exchange rate: USD=135 JPY)

In addition to expansion of existing sales channels and PB production, we will accelerate
growth and eliminate redundancy through data-driven management based on visualization,
investments to save labor in logistics , and commit to achieve a sales of 500 billion yen andoperating income of 25 billion yen in 2026
2023 Nishimoto Wismettac Group All rights reserved.

16

Cash Management and Allocation Policy(billion yen)

Strategic
Investment

40

Cash on
hand

50

New
financing100

Cash onhand

100

End of Dec 2023

Increasedworking
capital (*2)
Shareholder
return (*1)

30
10～
Usage

50

Operatingcash flow(Before taking accountinto changes in working
capital)Funding(*1) Dividend payout ratio 30％(*2) Increment in working capital iscompressed by 10 billion yen by
reinforcing SCM, etc.

Cash onhand

60

End of Dec 2026

Strategic investment framework of 100 billion yen to be invested in the follow three areas
1. M&A and JVs to gain presence in unexplored regions within the AFB business, upfront investments in products/resources for which
there are potential concerns regarding supply shortages in the future, investments to improve in-house production capability such as
R&D and RTE products development, upfront investments in upstream areas where expansion is expected in the future such as plantbased seafood/meat and land-based aquaculture.
2. Investments in overseas production and sales of Japanese fruits and vegetables holding exclusive cultivation rights
3. Investments in the food industry solutions business and domestic/international food technology (including the acquisition of startup
businesses with synergy).
2023 Nishimoto Wismettac Group All rights reserved.

17

Financial Policy
Fundamental Policy
At the Tokyo Exchange's Prime market, balance the proactive investments to expand business andstable dividend in order to achieve sustainable growth with healthy financial foundation
TargetShareholders' equity ratio
30 - 40%

ROE over 10%

Dividend payout ratio 30%

Maintained a solid financial baseTarget level achieved if it wasn’t for
COVID-19 impact

Maintained 30% level since listing,even during COVID-19(As of end of June 2023: 42%)2023 Nishimoto Wismettac Group All rights reserved.

18

Risk Management• Hedge the real impact on our business by using exchange marry(*)
in transactions between group companies trilateral trades
Foreign• The ratio of sourcing products from Japan for the overseas AFB
Exchange Risk
business will be maintained at approximately 15% (same as thepresent)(*) Offsetting impact caused by foreign exchange fluctuation by tying together sellingand buying foreign exchange position. The impact on profits is minimal.

Understanding the interest rate trends and their impact on interest
Interest Rate payments, and implementing optimal funding strategies(implementing a financial policy that is less susceptible to changes inRisk
the financial environment)

Geopolitical/ Avoid regional concentration of suppliers and mitigate risks ofregional conflicts and climate change by diversifying sources for the
ClimateChange Risks same product (already implemented for multiple key products)
2023 Nishimoto Wismettac Group All rights reserved.

19

Looking ahead to 2035
Become a world-renowned
global food solution company

Sales to exceed
2 trillion yen

Mid-term Business Plan 26(2024–2026)

Sales:

500 billion yen

Operating income:25 billion yen

Sales:

304 billion yen

4) Generate foundation for medical food (*)
business area

• Development and provision of food that is equally delicious
for everyone• Commercialization through industry-academia collaboration
and IP (intellectual property)3) Growth through new business creation• Create solution businesses utilizing new technologies such as
digital and food tech (10 businesses in three years)

2) Promote global expansion of fruit andvegetable business• Cultivation of overseas production of Japanese fruits andvegetables utilizing intellectual property rights and overseas
sales business as a new earnings pillar• Diversify and stabilize the earnings structure of the fruit andvegetable wholesale business

1) Accelerate quantitative and qualitative
growth in the existing businesses

Operating income:12 billion yen
Become a global food SPA
Become a global food solution company• Develop new markets and sales channels by strengthening
sales and product development capabilities• Increase gross profit margin by expanding PB and reducing
distribution costs• Reduce cost ratio by strengthening SCM in addition todigitization and AI of sales and import/export operations• Expansion of business scale through M&A, etc., utilizing
ample equity capital as well as cash and deposits(*) Foods designed to meet special nutritional requirements
related to medical reasons2023 Nishimoto Wismettac Group All rights reserved.

20

Table of Contents
2023 Nishimoto Wismettac Group All rights reserved.

1.

Summary2.

Summary of Financial Results for the Third
Quarter of the Fiscal Year Ending December
2023

3.

Policy of Returning Profits to Shareholders

4.

(Reference) Medium-Term Business Plan
(Extract)5.

(Reference) Wismettac Group Profile

21

Nishimoto Wismettac：Corporate Profile
Founded in 1912, Nishimoto Wismettac has grown into a global company supplying food ingredients and food products tomarkets worldwide.
Company nameNishimoto Co., Ltd. (TSE Prime 9260)

Head office

15th Floor, Nihonbashi Muromachi Mitsui Tower, 3-2-1, Nihonbashi Muromachi, Chuo-ku, Tokyo

EstablishedMay 1912

Representative directors

Yoshiro Susaki, Chairman & CEO

Number of employees

2,004 (including 1,541 in the Asian Food Global Business) [As of December 31, 2022]◆ Development and sales of Asian food worldwide

Business◆ Imports and sales of fruit, vegetables and related processed products, and supply of food ingredients to food

manufacturers and the restaurant sector◆ Other domestic sales activities (amenity products, supplements, medical food, etc.)

Subsidiaries and affiliates

Business sites

24 subsidiaries, 1 affiliate [As of October 31, 2023]
46 worldwide (including 24 in North America)
Locations in Japan, the U.S., Canada, Singapore, Australia, Netherlands, U.K., Germany,
France, Italy, China, Hong Kong, Thailand, Vietnam and South Korea

Consolidated net sales

275.2 billion yen (FY ended December 2022)

Consolidated ordinary income

10.8 billion yen (FY ended December 2022)

Shareholders' equity ratio
2023 Nishimoto Wismettac Group All rights reserved.

*Overseas sales ratio 79.6%

39.9% (FY ended December 2022)
22

Wismettac Group in Japan and Abroad◆ The Company Group maintains 46 locations around the world in North America, Europe, Australia, and Asia and is developing
business globally. Among these, North America (the US and Canada) has 24 locations, which account for the majority of sales.
・COMPTOIRS DES 3 CAPS・COMPTOIRS OCEANIQUES・TROPIC FISH

Calgary OfficeDenver Office

SSP Konsumgüter TRADE & CONSULT GmbH
Berlin Office

Chicago Office

Wismettac EMEA Holdings Limited(Established in Jan. 2023)

Wismettac Harro Foods Limited

Nishimoto Co., Ltd.
Wismettac Foods, Inc.

NTC Wismettac Europe B.V.

Privateport Co., Ltd.

WF Seoul Representative Office

Sco-Fro Group Limited
・Uniontrade S.p.A.
・Uni Logistic S.r.l.
・Plaza Latina S.r.l.

Las Vegas Office
Sacramento Office

New York Office

Shanghai IPM Co., Ltd.

Wismettac Asian Foods,
Inc.

SIM BA TRADING JTC＊WF Ho Chi Minh Representative Office

WF Bangkok Representative OfficeMontreal Office
Boston Office

San Francisco Office

WF Kobe Branch

Toronto Office

Seattle Office

Wismettac Foods Shanghai Co., Ltd.

Nippon Foods Co., Ltd.

(Made into subsidiaries in Oct. 2023)

Wismettac Asian Foods,
Inc. (Canada)

Hawaii Office

Washington, DC OfficeRaleigh Office
Ohio Office

San Diego OfficeMiami Office

Arizona OfficeOrlando Office

Houston Office
Dallas OfficeAtlanta Office

NTC Wismettac Singapore Pte.Ltd.
Ban Choon Marketing Pte. Ltd.
NTC Wismettac Australia Brisbane Office

NTC Wismettac Australia Perth Office"WF" shown in the figure is an abbreviation for "Wismettac Foods“* The equity-method affiliate

2023 Nishimoto Wismettac Group All rights reserved.

NTC Wismettac Australia Pty Ltd.
NTC Wismettac Australia Melbourne Office23

Wismettac Group Growth Milestones - Key Figures -2023 Nishimoto Wismettac Group All rights reserved.

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Disclaimer
These materials are intended to provide financial information, management information, etc. of Nishimoto Co., Ltd. and its affiliatedcompanies (hereinafter collectively referred to as "the Company"), but the Company makes no representation or warranty regarding
the content of these materials.
The plans, strategies, operating results forecasts, etc. of the Company in these materials may include information on forward-looking
statements, which are based on information currently available to the Company, and include risks and uncertain elements in relation
to economic trends, competition in the industry, market demand, foreign exchange rates, taxation system, various systems, etc.
Therefore, actual operating results that will be published in the future may differ due to these elements, and the Company does notassume any liability for any damage arising from the use of information in these materials. Furthermore, the Company is under noobligation to revise and publish future forecasts in these materials based on new information or future events.
The Company pays close attention when preparing these materials; however, please note:• The Company does not assume any liability for any damage arising from any causes including, but not limited to, any errors in theinformation presented, falsification of data by a third party, and any failure arising from download of data; and• If there is a discrepancy between the Japanese version and the English version (if any) of published materials, the Japanese version
shall take precedence, and the Company does not assume any liability for any damage arising from misunderstanding due totranslation.
This document is not intended as an investment solicitation. When making investment decisions, please refrain from relying entirelyon the information in this document, and make investment choices based on your own judgment.
[Contact]
Nishimoto Co., Ltd.
Corporate Management Office
TEL: 03-6870-2015
Email : https://www.wismettac.com/en/contact.html
2023 Nishimoto Wismettac Group All rights reserved.

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