Supplementary Material to Financial Results
Fiscal Year Ended December 2021

Nishimoto Co., Ltd.
February 14, 2022
2022 Nishimoto Wismettac Group All rights reserved.

Contents• SummaryP. 2• Summary of Financial Results for the Fiscal Year
Ended December 2021

P. 3

• Earnings Forecast for the Fiscal Year Ending
December 2022

P. 9

• Policy of Returning Profits to Shareholders

P.13• The Business Model Wismettac Aims andthe Report on Progress

P.16• Corporate Profile

P.22

2022 Nishimoto Wismettac Group All rights reserved.

1

Summary
FYE 12/2021 Financial Resultsp. 3◆ Continuing from the first half, consumer demand recovered mainly in North America and Europe. Sales and profits increased
significantly compared to the previous year.
FYE 12/2020

Net sales: 168.4 billion yen

Operating income: 1.9 billion yen

Ordinary income: 1.7 billion yen

Net profit: 1.0 billion yen*

FYE 12/2021

Net sales: 213.2 billion yen

Operating income: 7.3 billion yen

Ordinary income: 7.2 billion yen

Net profit: 5.0 billion yen*(*) Net income attributable to owners of parent

FYE 12/2022 Earnings and Dividends Forecasts

p. 9

Earnings Forecast for the Fiscal Year Ending December 2022
Midterm

Net sales: 120.0 billion yen

Operating income: 2.8 billion yen

Ordinary income: 2.6 billion yen

Net profit: 1.9 billion yen*

Full YearNet sales: 240.0 billion yen

Operating income: 5.0 billion yen

Ordinary income: 4.7 billion yen

Net profit: 3.3 billion yen*(*) Net income attributable to owners of parent

Dividends Forecast for the Fiscal Year Ending December 2022
FYE 12/2021

Interim dividend: 35 yen (Results)

Year-end dividend: 70 yen

Total: 105 yen

FYE 12/2022

Interim dividend: 35 yen

Year-end dividend: 35 yen

Total: 70 yen➢ As for dividends, 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.

The Direction WMC* is Aiming for

p. 16◆ Aiming business model I : "Products" and "Services (Digital)"➢ With the strength of our own capabilities in food logistics, we aim to evolve into a company that solves the issues faced by the global food industry sales
channels.

◆ Aiming business model II : Cross-border development of food technology➢ Utilization of the Group's knowledge and networks covering 5 regions around the world (Japan, North America, Europe, China, Southeast Asia).

◆ Status of efforts towards evolution :Develop various efforts across the five regions to realize new business models
2022 Nishimoto Wismettac Group All rights reserved.

*WMC…The Wismettac Group2

Summary of Financial Results
for the Fiscal Year Ended December 2021

2022 Nishimoto Wismettac Group All rights reserved.

Summary of Financial Results for FYE 12/2021
Sales to restaurants were particularly strong due to factors such as the impact of rebound consumption
demand mainly in Europe and the U.S. regions. Steady recovery in both sales and profits due to efforts
to a stable supply of products by utilizing out global group network.
◆ Sales to restaurants, mainly in Europe and the U.S., recovered steadily as vaccination progressed smoothly and regulations
were relaxed, boosting consumer demand. Sales to the grocery sector, which had been underpinning sales during the
COVID-19 Pandemic period, also remained strong, resulting in a significant increase of 26.6% year-on-year.
◆ Profit is steadily increasing along with the recovery of sales. Various measures to improve profits (price adjustment,
reduction of SG & A expenses, product expansion in response to rising demand for ready-to-eat meals and home-cooked
meals, etc.) contributed to the increase seen.
• In the fourth quarter of 2020, the Company reversed 1.2 billion yen of the provision of allowance for doubtful
accounts and loss on valuation of inventories (totaling approximately 1.7 billion yen) recorded in the first half of theyear as a response to the COVID-19 pandemic.
(Unit: billions of yen)FYE December 2020

Operating results

FYE December 2021

Changes
year-on-year

Full-year Results
Oct - Dec

Full-year Results
Oct - Dec

Net sales

168.4

44.0

213.2

57.8

+44.7

+26.6%

Gross profit

29.4

8.8

41.0

11.8

+11.6

+39.4%

Operating income(Excluding strategic expenses)

4.1

2.6

10.0

3.0

+5.8

+139.9%Operating income or loss(△)

1.9

1.9

7.3

2.2

+5.3

+268.3%

Ordinary income or loss(△)

1.7

1.9

7.2

2.2

+5.4

+320.0%Net income or loss(△) attributable toowners of parent

1.0

0.6

5.0

1.7

+4.0

+394.8%

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

106.82 yen

109.80 yen+2.98 yen

Quarterly net income or loss(△) per share

70.80 yen

350.34 yen+394.8%2022 Nishimoto Wismettac Group All rights reserved.

4

Operating Results by Segment for FYE 12/2021
The Asian Food Global Business focused on a stable supply of products and captured profit
opportunities during the recovery phase of consumer demand, resulting in strong sales and profits.
Sales and profits of the Agricultural & Seafood Products Trading Business decreased due to the delay
in demand recovery caused by the prolonged declaration of emergency in Japan.
Asian Food Global Business (hereinafter called “GAF”)◆ GAF focused on inventory control in the midst of global logistics disruptions and worked to ensure a stable supply of commercial
products for restaurants, where demand has recovered, resulting in sales growth. GAF also succeed in securing profits by implementing
early price adjustments in anticipation of increased costs for raw materials, ocean freight, and labor.
• North America region: +27.9% YoY, +5.9% YoY vs. FY 2019 (before the COVID-19 pandemic)• Regions other than North America: +77.4% YoY

Agricultural & Seafood Products Trading Business◆ Demand for mainstay imported fruits and vegetables was sluggish due to the prolonged declaration of a state of emergency andcompetition with domestic products. As a result of the delay in the recovery of demand from the restaurant industry and other sectors,
sales declined slightly by 1.8% year-on-year.
◆ While it became difficult to control inventory based on supply and demand forecasts due to rising purchase costs caused by the
weakening yen and disruptions in logistics; the implementation of sales measures that prioritize inventory turnover resulted in a slightdecrease in sales but a significant decrease in profits.
(Unit: billions of yen)FYE December 2020
Business segments

GAF
Agricultural & Seafood
Products Trading Business
Other
Adjustment
Total

FYE December 2021

Changes
year-on-year

Full-year Results
Oct - Dec

Full-year Results
Oct - Dec

Operating loss(△)

116.8
1.8
47.9
0.6
3.6
0.1
▲0.6

32.1
1.9
10.8
0.1
1.1
0.1
▲0.2

162.4
8.2
47.0
▲0.1
3.7
0.0
▲0.8

46.1
2.6
10.4
▲0.0
1.3
0.0
▲0.3

+45.5
+6.4
▲0.8
▲0.7
+0.0
▲0.0
▲0.2

+39.0%+356.7%▲1.8%+1.6%▲69.2%-Net sales

168.4

44.0

213.2

57.8

+44.7

+26.6%

1.9

1.9

7.3

2.2

+5.3

+268.3%

Net sales
Operating income or loss(△)
Net sales
Operating income or loss(△)
Net sales
Operating income or loss(△)
Net sales

Operating income

2022 Nishimoto Wismettac Group All rights reserved.

5

Consolidated Balance Sheet (Summary)(Unit: billions of yen)

End of 12/2020

End of 12/2021

Amount/Rate ofincrease(decrease)

Main reasons for changes
Cash and deposits +12.9,

Current assets

98.1

124.7

+26.6 Trade receivables +3.9, Inventories +9.2

Non-current asset

15.4

17.0

+1.5 Lease asset +0.6

113.6

141.7

+28.1

Current liabilities

21.4

36.6

+15.1 term loans payables +8.8

Non-current liabilities

41.2

45.2

+3.9 Long-term loans payables +3.7

Total liabilities

62.7

81.9

+19.1

Total net assets

50.8

59.8

+9.0

Total liabilities and net asset

113.6

141.7

+28.1

Shareholders' equity ratio

44.4%

41.9%

▲2.5 pt

Current ratio

456.5%

339.9%▲116.6 pt

Total assets

2022 Nishimoto Wismettac Group All rights reserved.

Trade payables +4.3, Current portion of long-6

Consolidated Statements of Cash Flows (Summary)(Unit: billions of yen)

FYE 12/2020
Full-year Results

10.4

Cash flows from operating activities

FYE 12/2021
Full-year Results

2.1

ChangesYear-on-year

Main reasons for changes(changes year-on-year)
Trade receivables ▲4.9, Inventories ▲10.0,▲8.3 Account payable - trade +3.4

Cash flows from investing activities

▲9.0

▲0.3

Payments from changes in ownership interests+8.6 in subsidiaries that results in change in scope of
consolidation (Difference) +5.0

Cash flows from financing activities

12.0

9.7

▲2.3 Proceeds from long-term loans payable ▲2.8

Exchange rate change

▲1.4

3.0

+4.5

Cash and cash equivalents

FYE 12/2020
Full-year Results

FYE 12/2021
Full-Year Results

ChangesYear-on-year

Cash and cash equivalents at
beginning of period

38.8

50.9

+12.0

Net increase (decrease) in cash
and cash equivalents

12.0

14.7

+2.6

Cash and cash equivalents at endof period

50.9

65.6

+14.7

2022 Nishimoto Wismettac Group All rights reserved.

Remarks

7

(Ref.) Sales Composition Ratio by Region* Sales to external customers● Consolidated sales (Entire Group)

240.0
213.2

158.3

172.0

182.2

182.6

Unit: billions of yen(Full-year forecast)

168.4

Asia/Australia

EU
NA
Japan

FYE 12/2016

FYE 12/2017

FYE 12/2018

FYE 12/2019

FYE 12/2020

FYE 12/2021

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

2022 Nishimoto Wismettac Group All rights reserved.

FYE 12/2022 (Forecast)

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

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

Earnings Forecast
for the Fiscal Year Ending December 2022

2022 Nishimoto Wismettac Group All rights reserved.

FYE 12/2022 Full-Year Earnings Forecast◆ Sales are steadily increasing as global economic activity is expected to be on a recovery track.
◆ Rising procurement costs and logistics-related costs such as personnel costs are affecting profit levels.
◆ Continuing investment to strengthen the foundations of existing businesses as well as to promote new

businesses.

修正後
FY2022
Forecasts

Net
sales
売上高

213.2
billion yen
1,870億円

240.0
billion yen
2,000億円(+26.7)(+130)

999.17

Operatingincome
営業利益

7.3
billion yen
20億円

5.055億円
billion yen(▲2.3)
(+35)

32.75

Ordinary
income経常利益

7.2
billion yen
17億円

4.751億円
billion yen(▲2.5)
(+34)

33.34

Net income attributableto owners of parent

5.0
billion yen
10億円

3.338億円
billion yen(▲1.7)
(+28)

25.87

親会社株主に帰属する当期純利益

Assumption

2021年度12月期
第2四半期累計

2021/2公表
FY2021Results◆ Impact of COVID-19 pandemic➢ The recovery of economic activity will continue to be affected by the occurrence of new variants of COVID-19 and other factors, as
in FY 12/2021. However, the impact of government-led regulations and other factors will be limited.
➢ While the trend of recovery and growth continues, especially in North America, the increase in demand due to a rebound in
consumption and the tight supply-demand balance situation are calming down.
➢ Disruptions and stagnation in global logistics will continue for the time being. Although the situation will gradually subside, it isunlikely to level out within the year.
◆ Increase in procurement costs and logistics-related expenses➢ The impact of increased costs for raw materials, ocean freight, and labor will become more apparent, and the trend toward higher
procurement costs and logistics-related expenses will continue. Ocean freight rates will remain at a high level until the second halfof the fiscal year.
➢ As the supply-demand balance returns to normal, price adjustments are expected in light of competition with other companies,
which will affect gross profit.

Continue to invest aggressively for the future◆ Evolution to a new business model: Promote various initiatives by developing an overseas management system, hiring specialized
personnel, and developing products for new sales channels.
◆ Strengthen the foundations of existing businesses: Continue to invest aggressively in improving warehouse operations and logistics
systems and promoting labor-saving measures.
2022 Nishimoto Wismettac Group All rights reserved.

10

FYE 12/2022 Full-Year Earnings Forecast
Planning assumption The yen/dollar exchange rate in the forecast is assumed to be 1$=110 yen

Unit: billions of yen

FY2019Results

FY2020Results

FY2021Results

FY2022
Forecasts

Sales

182.6

168.4

213.2

240.0

Profit

4.3

1.9

7.3

5.0

Sales

180.5

165.7

207.3

224.7

Profit

5.4

3.9

10.5

8.3

Sales

128.8

116.3

159.8

171.6

Profit

4.5

3.0

10.5

7.7

Sales

47.7

45.8

43.9

48.9

Profit

0.8

0.8

▲0.1

0.5

Sales

3.9

3.6

3.7

4.1

Profit

0.1

0.1

0.1

0.1

Sales

2.1

2.7

6.0

15.3

Profit

▲1.1

▲2.0

▲3.2

▲3.3

(USD exchange rate)(109.05)(106.82)(109.80)(110.00)

Entirecompany

Existing

GAF

Agricultural& Seafood
Products

Domestic
BtoC

New

2022 Nishimoto Wismettac Group All rights reserved.

Comment
Sales growth seen in both existing and new
businesses. Continuing to strengthen
systems and investments for medium- tolong-term growth.
While the increase in sales will compensate
for the decrease in earnings due to theincrease in expenses and other factors,
investments will continue to be made tostrengthen the business foundation for the
future.
Price adjustment phase due to changes inthe supply-demand balance, risingprocurement costs and increased logisticsrelated costs, etc., will affect earnings.
Promoted the creation of a new structure
to strengthen domestic and overseas sales
by restructuring the organization, etc.
Continuing to work on improving
profitability, which we have been doing
since the last fiscal year.
Aiming to increase sales by expanding therange of products handled and introducing
an online ordering system.
While continuing to invest in the evolutionof new business models, still remaining
focused on expanding sales to mainstream
and other sales channels, which are
currently being strengthened.

11Breakdown of Strategic Investment
Continuing to invest in initiatives to strengthen the foundations of existing businesses
and evolve into new business models.
Amount(including expenses/billions of yen)

Measures
1

2

2020

Results

Expansion
Business Fields◆ Creation of new businesses in theintersection of the fields of Food,
Healthcare, Ecology, New Lifestyleand Food informatics

Strengthening
Interregional
Cooperation◆ Formation and strengthening ofregional management teams◆ Product development andmainstream sales channel
development in Europe andChina

3Strengthening
Profitability of
Existing Business

0.3

1.0

Aims

2021

2022

0.5

0.9

◆ Diversification of business portfolio

2.4◆ Strengthening organizational
management capabilities in each region◆ Building business strategies forstrengthening mainstream sales channel,
etc., and building business strategies fordeepening transactions

Results Forecasts

1.2◆ Enhancement of the productdevelopment divisions

0.1

0.1

0.2

◆ Further expansion of the private brandproduct lineup◆ Development of health-oriented products◆ SCM and IT infrastructure
investments

0.0

0.0

0.7

◆ Reduction of SG&A and logistics costs
and labor savings through digitaltransformation(DX)◆ Organizational revitalization/
streamlining(NA, etc.) and reformof compensation system

0.5

0.5

0.0

◆ Strengthening organizational capabilities◆ Introduction of compensation system
based on company and individual
performance◆ Stronger teamwork capability through theintroduction of internal
communication/coordination tools

0.1

0.2

0.2

◆ Capturing growth in overseas markets

0.2

0.2

0.2

◆ Capturing food service businesses
responding to the New Normal lifestyle

2.2

2.7

4.6

4

of a mechanism forDevelopment of ◆ Construction
overseas export of Japanese
New Businesses
agricultural products◆ Development of new services to
Derived fromthe restaurant industry (NewExisting Businesses
Normal eating habits)

Total
2022 Nishimoto Wismettac Group All rights reserved.

12

Policy of Returning Profits to Shareholders

2022 Nishimoto Wismettac Group All rights reserved.

Policy of Returning Profits to Shareholders
Basic Policy◆ The company will continue to pay stable dividends while securing internal reserves for future businessdevelopment and strengthening the financial 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 for the Fiscal Year Ending December 2021
◆ The year-end dividend forecast has been increased significantly to 70 yen per share (from 45 yen per
share announced in August 2021).
◆ The annual dividend was also significantly increased from the previous fiscal year to 105 yen, the highest
annual dividend since the company was listed. The full-year dividend payout ratio is approximately 30%.

Dividends for the Fiscal Year Ending December 2022
◆ The Company makes decisions based on the above basic policy, the business environment surrounding
the Group, and future earnings prospects.
◆ The forecast for the interim and year-end dividends is 35 yen per share, and the annual dividend will be
70 yen per share.
1株当たり配当額
Dividend
per share
(円)
(yen)
105

120
100
80

Year-end
期末配当
dividend

60

70

40
20

20
Interim

中間配当
dividend
Not paid

70
35Interim
中間配当
dividend
35

35

2021年12月期
FY ended
December 2021
(Results)(実績)

2022年12月期
FY ended
December 2022
(Forecasts)
(予想)

見送り

2020年12月期
FY ended
December 2020
(Results)(実績)

2022 Nishimoto Wismettac Group All rights reserved.

14

Application to Select "Prime Market"
The Company has submitted an application to select the "Prime Market", in connection
with the restructure of the market segments of the Tokyo Stock Exchange, Inc. scheduled
for April 2022.
◆

Issues➢ Achieving one of the standard requirements for the Prime Market, “the tradable
share ratio of 35 % or more”, is an issue for maintaining listing in the Prime
Market.

◆Initiatives and the target period➢ In order to increase the tradable share ratio, the Company is considering making
a proposal to the major corporate shareholders and individual major
shareholders, and/or increasing capital through public offering.
➢ Assuming step-by-step approach in consideration of business environment andstock market trends.
➢ The Company expects a target period of four years (until December 2025)

2022 Nishimoto Wismettac Group All rights reserved.

15

The Business Model Wismettac Aims
and the Report on Progress

2022 Nishimoto Wismettac Group All rights reserved.

Business Model I - "Products" and "Services (Digital)"
By leveraging the strengths of our group, such as the global food sales channels we have establishedand our own cross-border food logistics capabilities, we aim to evolve into a company that can solve
the issues faced by the global food industry sales channels.
"Food" Distribution Channel
Mainstream
Food Service
Retail
To Go
EC

Asian
Food Service
RetailIdentifying
issues and needs

Food Products
Solution

Medical Institutions
Facilities for the elderly
Nursing home

Cyber (Digital)
Solution

Identifying
issues and needs

Core sales channel

Sales channel
currently being
strengthened
Sales channel
to be developedin the future

Food safety
Compliance2022 Nishimoto Wismettac Group All rights reserved.

Product
development
capabilities(Localization)

Stable supply
capacity
Local
production
capabilities
17

Business Model II - Cross-border Development of Food Technology
By utilizing our knowledge and networks in 5 Regions, we aim to discover technologies that can solve
various issues in the food industry and establish a system to implement them in collaboration withpartner companies.
Intellectual
property
Startups
Providingtechnology
and/or licenses

Intellectual
property
Startups

China

Providingsources

Providingtechnology
and/or licenses

Providingsources

EuropeIntellectual
property
Startups

ProvidingsourcesJapan

Providingtechnology
and/or licenses

Technology Research & Discovery
Local Sales
Commercialization

ProvidingsourcesIntellectual
property
Startups

North
America
Providingtechnology
and/or licenses

2022 Nishimoto Wismettac Group All rights reserved.

ProvidingsourcesSoutheast
AsiaIntellectual
property
Startups

Providingtechnology
and/or licenses
18

Roadmap for Evolution
Develop various initiatives across the five regions to realize new business models.
Present

2020～
Acquisition of Scottish
seafood and processed food
wholesaler "Sco-Fro"Development of
RTE products andproducts for retailers

Acquisition of Singapore
fruit & vegetable, and processedfood wholesaler "BCM"(Developing in 5 Regions:
Products for Izaka-ya, frozen sushi)

Food

Business Model I

Recruitment of overseas
management personnel
for and establishment oforganizational structure
Recruiting specialized
personnel (by function)and launching specialized
teams

DigitalServices• Start-up businessdevelopment• Research and discovery
of food technology• Manufacturing planning• Legal/IPs

Business
Model II
2022 Nishimoto Wismettac Group All rights reserved.

Expandingsales throughnew/existingsales channels

Cross-border EC sales of our supplement brand "NATUMEDICA" products(available for sale)

Development of foodproducts with nutrient
Launched through omnichannel marketing approachfunction claims (in progress)

Development of foodproducts for patients andthe elderly (Japan/Europe)

Launched sales to hospitals and nursing care facilities→Development of sales channel (in 5 Regions)

Development of an EC platform for BtoB food products
Research and design for Cloud
Kitchen (Japan/US)

Launched a business to support to-go (RTE) foodservice providers (US/Japan)

Sourcing activities via domestic and overseas universities, research
institutions, corporate venture capital(CVC) investors, and reviewing
them individually

Development
to 5 Regions andimplementation

19

(Ref.) Approaches of New Business Concepts
WMC aims to be a corporate group that expands globally by continuously creating new
businesses (business models, products) that combine Needs/Issues and solutions in areas
where the food field and other fields are fused.

Ecology
Wismettac's Business Fields

3

1. Food：Make a leap forward based on
existing businesses

1
Food
5
Informatics

Food

22

Medical(Health Care)

2. Field where food and medical (healthcare) intersect
3. Field where food and ecology intersect
4. Field where food and new lifestyleintersect4
New
Lifestyle2022 Nishimoto Wismettac Group All rights reserved.

This field that will change drastically with the
COVID-19 pandemic - evolution of how to
supply food.

5. Food Informatics

20

(Ref.) New Business Initiatives in Japan
Establishing new business in the fields of "Food X New Lifestyle" and "Food X Medical(Healthcare)"1. Supporting high-end restaurants to develop
a ready-to-eat business◆◆◆(Shokutaku no Meii)

2. New development of medical food,"食卓の名医™ (Shokutaku no Meii)"◆◆◆
2022 Nishimoto Wismettac Group All rights reserved.

The restaurant industry is undergoing major changes due to recent
trends in "Work Style Reforms" and the impact of the COVID-19
pandemic.
→ It is especially detrimental to fine restaurants. There is an urgent
need to respond to this rapidly changing market.
In order to establish a new revenue model for high-end
restaurants, the Company opened WisChef, a take-out fine dining
store with an open kitchen where customers can watch thecooking process.
→ This project employs the "cloud kitchen" system, which allows
restaurants to start without major capital investment, and thestore serves only takeout food.
The pre-order system can achieve a reduction in waste bypreparing only the necessary ingredients. It also contributes tosustainability by reducing the use of plastic in the store.

Under the supervision of doctors and registered dietitians, we havedeveloped a medical diet with foods for people with digestive
anxiety, such as after gastric cancer surgery.
→ Launch of the new brand "食卓の名医™(Shokutaku no Meii=good
doctor on our dining table)"
Developed the new lineup, "消化にあんしん™(Sho-ka ni Anshin=no worries
about digestion)" of frozen foods as a new category of Medical Food.
→ Foods are processed and softened using a patented technology
called "freeze-thaw impregnation". Providing "safety" and"deliciousness" to people with digestive disorder, such as after
gastric cancer surgery
Tasting panels were conducted for those who had gastrectomy.
Most items are highly evaluated for good digestibility, softness,and ease of preparation.
21

Corporate Profile◆ Two spheres symbolizing the Earth and Globalism⚫ Red is used to show Innovation, green represents
Nature⚫ Expresses the Company’s “lasting commitment tocreating healthier and richer lives through food”◆ Incorporates the letters “W” “M” and “C” from theCompany name2022 Nishimoto Wismettac Group All rights reserved.

< Wisdom > (Western knowledge)< Metta >(Eastern knowledge)(Metta means kindness or empathy in Pali, anancient Indian language)< Creativity > (Ability to create value)

Nishimoto Wismettac: Corporate Profile
Founded in 1912, Nishimoto Wismettac has grown into a global company supplying foodingredients and food products to markets worldwide.
Company nameNishimoto Co., Ltd.

Head office

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

EstablishedMay 1912

Representative directors

Yoshiro Susaki, Chairman & President CEO

Number of employees

1,813(including 1,507 in the Asian Food Global Business) [As of December 31, 2021]◆ Development and sales of Asian food worldwide

Business◆ Imports and sales of fruit, vegetables and related processed products, and supply of foodingredients to food manufacturers and the restaurant sector

Subsidiaries and affiliates
Business sites

21 subsidiaries, 1 affiliate [As of December 31, 2021]
44*1 worldwide (including 24 in North America)
Locations in Japan, the U.S., Canada, Singapore, Australia, Netherlands, U.K., Germany,
France, China, Hong Kong, Thailand, Vietnam and South Korea*1 Figures after reviewing the definition of the number of business sites (January 2022)

Consolidated net sales

213.2 billion yen (FY ended December 2021)

Consolidated ordinary
income7.2 billion yen (FY ended December 2021)

Shareholders’ equity ratio
2022 Nishimoto Wismettac Group All rights reserved.

* Overseas sales ratio 74.2%

41.9% (FY ended December 2021)
23

Nishimoto Wismettac: Domestic and Overseas Business Sites
The Company Group maintains 44 locations around the world in North America, Europe,
Australia, and Asia and is developing business globally. Among these, North America (theUS and Canada) has 24 locations, which account for the majority of sales.

13 ・COMPTOIRS DES 3 CAPS
| ・COMPTOIRS OCEANIQUES
15 ・TROPIC FISH
12 SSP Konsumgüter TRADE & CONSULT GmbH

Calgary Office

Berlin OfficeDenver Office

10 Wismettac Harro Foods Limited

Wismettac Asian Foods,
4 Inc. (Canada)

1 Nishimoto Co., Ltd.
WF Seoul Representative Office

2 Wismettac Foods, Inc.

7 NTC Wismettac Europe B.V.
17 Sco-Fro Group Limited

San Francisco Office

9 Shanghai IPM Co., Ltd.

Wismettac Asian Foods,
3 Inc.

11 Nippon Foods Co., Ltd.
WF Ho Chi Minh Representative Office
WF Bangkok Representative Office
5 NTC Wismettac Singapore Pte.Ltd.
18 Ban Choon Marketing Pte. Ltd.

(joined the WMC Group as a consolidated subsidiary in January 2022)

Seattle Office
Sacramento Office

Wismettac Foods
8 Shanghai Co., Ltd.

16 SIM BA TRADING JTC

Las Vegas Office

Hawaii Office
WF Kobe Office
WF Kobe Branch

San Diego Office

WF Naha Representative Office

Arizona Office

Chicago Office
Toronto OfficeMontreal Office
Boston Office
New York Office
Washington, DC Office
Ohio OfficeMiami OfficeOrlando OfficeAtlanta Office

Houston Office
Dallas Office
NTC Wismettac Australia Brisbane Office
6 NTC Wismettac Australia Pty Ltd.

NTC Wismettac Australia Perth Office

NTC Wismettac Australia Melbourne Office“WF” shown in the figure is an abbreviation for “Wismettac Foods”

2022 Nishimoto Wismettac Group All rights reserved.

24

Ban Choon Marketing Pte. Ltd.
On January 7, 2022, the Company acquired 100% of the shares of Ban Choon Marketing
Pte. Ltd., a major fruit & vegetable and processed food wholesaler in Singapore.

◆ NTC Wismettac Singapore Pte. Ltd. acquired 100% of the shares of
Ban Choon Marketing Pte. Ltd.(hereinafter referred to as "BCM"),making it a subsidiary.
◆ BCM is one of the leading fruit and vegetable wholesalers in
Singapore with customers such as major retailers (including NTUC
FairPrice, Singapore's largest retailer), EC businesses, restaurants, andhotels.
(Ref.) FY 12/2020 Total Assets: SGD 25,073K Sales: SGD 75,680K◆ BCM aims to grow its business by leveraging Wismettac's strength inglobal fruit and vegetable procurement systems, and to expand andstrengthen its network infrastructure in Southeast Asia region.

2022 Nishimoto Wismettac Group All rights reserved.

25

Disclaimer
These materials are intended to provide financial information, management information, etc. of
Nishimoto Co., Ltd. and its affiliated companies (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 theCompany, and include risks and uncertain elements in relation to economic trends, competition in theindustry, 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 theCompany does not assume any liability for any damage arising from the use of information in thesematerials. Furthermore, the Company is under no obligation to revise and publish future forecasts inthese materials based on new information or future events.
The Company pays close attention when preparing these materials; however, if there are any errors in
the information presented, falsification of data by a third party, or any failure arising from download ofdata, etc., the Company does not assume any liability for any damage caused by such actions for any
reason whatsoever. We appreciate your understanding regarding this matter.
The information in these materials is not intended to solicit investments. When any investment is
actually made, please refrain from completely relying on the information in these materials to make an
investment decision, and make the decision based on your own judgment.
[Contact]
Nishimoto Co., Ltd.
Corporate Planning Dept.
TEL: 03-6870-2015

2022 Nishimoto Wismettac Group All rights reserved.