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

Nishimoto Co., Ltd.
August 10, 2023
2023 Nishimoto Wismettac Group All rights reserved.

Contents•

Summary•

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

•

P. 2

P. 3

Revision of Annual Profit Earnings Forecasts
for the Fiscal Year Ending December 2023

P. 11

•

Policy of Returning Profits to Shareholders

P. 16

•

Wismettac Group Profile

P. 182023 Nishimoto Wismettac Group All rights reserved.

1

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

p. 4, 5Net sales increased year on year. Operating income decreased year on year, but exceeded midterm forecast.
Same period last year Net sales:
Current period

130.7 billion yen

Net sales: 146.3 billion yen

Operating income:6.1 billion yen

Ordinary income:6.4 billion yen

Net profit:

4.5 billion yen*

Operating income: 5.7 billion yen Ordinary income: 6.5 billion yen Net profit: 4.4 billion yen*[Results as percentage of midterm earnings forecast] (98%)(110%)(124%)(122%)(*) Net income attributable to owners of parent

Upward Revision of the Annual Profit Earnings Forecasts for the Fiscal Year Ending
December 2023◆

We have revised our annual earnings forecasts upward in view of the earnings results through the second quarter, the profit-boosting impact ofcontinued depreciation of the yen, the impact of higher interest rates on the financial position of the Company, and other factors.

Before revision

Net sales: 304.0 billion yen

Operating income: 11.0 billion yen

Ordinary income: 11.0 billion yen

Net profit: 7.3 billion yen*

After revision

Net sales: 304.0 billion yen Operating income: 12.0 billion yen Ordinary income: 12.5 billion yen

Net profit: 7.5 billion yen*

[Average exchange rate for the full-year forecasts (USD)] (Before revision) $1=130 yen (After revision) $1=135 yen(*) Net income attributable to owners of parent

Shareholder return policy: Increase in Interim Dividend
◆

p. 12

p. 17

Increased interim dividend to 80 yen per share. Year-end dividend forecast is unchanged.
FYE 12/2022 Interim dividend:

70 yenYear-end dividend:

75 yenTotal: 145 yen

Full-year consolidated dividend payout ratio 30.5%

FYE 12/2023 Interim dividend: 80 yen Year-end dividend: 80 yen (forecast) Total: 160 yen (forecast) Full-year consolidated dividend payout ratio 30.6%(forecast)[Forecasts announced in February]◆[70 yen][80 yen][150 yen]

As previously planned, the dividend payout ratio is an important indicator, and the Company aims for a consolidated dividend payout ratio ofaround 30% for the full fiscal year.

Announcement of a New Medium-Term Business Plan in September◆

We will announce a new Medium-Term Business Plan in September on medium- to long-term business policies, initiatives, and targets of the
Wismettac Group.

2023 Nishimoto Wismettac Group All rights reserved.

2

Summary of Financial Results for the Second Quarterof the Fiscal Year Ending December 2023

2023 Nishimoto Wismettac Group All rights reserved.

Summary of Financial Results for the Second Quarter of the Fiscal Year Ending
December 2023
◆ Net sales increased year on year. Operating income decreased year on year, but exceeded
midterm forecast.
◆

Net sales increased 11.9% year-on-year, almost reaching the midterm forecast.
➢

Overall, strong sales continued in the Asian Food Global Business segment, with each region achieving year-on-year net sales growth.

➢

The Agricultural & Seafood Products Trading Business segment achieved sales growth, particularly to domestic customers, due to strong
shipment, sales, etc., of mainstay products.

◆

Operating income decreased year on year from the particularly strong results achieved last year, but exceeded midterm forecast.
➢Profit margin in the mainstay North America region declined year on year as expenses increased mainly in logistics costs and labor costs andthe supply-demand balance continued to approach an equilibrium. On the other hand, other regions achieved profitability improvement andsales growth and/or benefited from the impact of currency translation. As a result, operating income exceeded the midterm forecast.

(Unit: billions of yen)

Operatingresults

FY ended December 2022

FY ending December 2023

Second quarter results(Apr-Jun)

Second quarter results(Apr-Jun)

Year-on-year[Reference]
Earnings forecast
Midterm
Results as percentage of
forecast

Net sales

130.7

71.7

146.3

76.5

+15.5

+11.9%

Gross profit

26.7

14.1

29.8

15.2

+3.2

+11.8%

Operating income or loss(△)

6.1

3.1

5.7

2.6

▲0.3

▲5.2%

5.2 +110.3%

Ordinary income or loss(△)

6.4

3.2

6.5

3.1

+0.0

+0.2%

5.2 +124.1%

Net income or loss(△) attributableto owners of parent

4.5

2.3

4.4

2.1

▲0.1

▲2.8%

3.6 +121.6%

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

122.89 yen

134.85 yen+11.96 yen

Quarterly net income or loss(△) per share

313.84 yen

305.07 yen▲2.8%2023 Nishimoto Wismettac Group All rights reserved.

149.0+98.2%

4

Operating Results by Segment for the Second Quarter of the Fiscal Year Ending
December 2023
アジア食グローバル事業（以下、「AFB」）
Asian Food Global Business (hereinafter referred to as "AFB")◆

Net sales increased by 13% year-on-year. (+13% YoY in North America, +14% YoY in Europe, and +23% YoY in Asia and Australia)➢

In North America, both restaurant and grocery sales grew amid firm sales conditions.

➢

In Europe, sales growth was driven mainly by increase in sales to chain restaurants. In Asia, sales this year were relatively solid compared to the same period
last year, which was affected by the lingering effect of the COVID-19 pandemic, and increased year on year.

◆

Profits increased compared with the same period of the previous fiscal year, which was strong➢

Although we strived to secure profits by passing on higher costs to selling prices, profit margin in North America declined year on year from the particularlyhigh level achieved last year as the supply-demand balance approached an equilibrium as a result of the stabilization of logistics while expenses increased. On
the other hand, operating income of the AFB segment as a whole increased due to sales growth, the impact of currency translation, and profitability
improvement in Asia and Australia.

Agricultural & Seafood Products Trading Business◆Net sales increased year on year mainly because the domestic business achieved relatively steady shipment for both imported fruits and vegetables and frozen
processed food.

◆

While lowering selling prices of mainstay products under a sales policy that prioritizes sales volume, we passed on higher costs to selling prices of other imported
fruits and vegetables and frozen processed food. As a result, operating income also increased year on year.

Business segments

FY ending December 2023

Second quarter results

Second quarter results(Apr-Jun)

AFB

Net sales
Operating income or loss(△)

Agricultural &Net sales
Seafood
Products Trading Operating income or loss(△)
Business

Other
Adjustment
Total

Net sales
Operating income or loss(△)

Net sales
Operating income or loss(△)

Net sales
Operating income or loss(△)(Unit: billions of yen)

FY ended December 2022

[Less impact of foreign
currency translation]
Year-on-year

Year-on-year(Apr-Jun)

100.4
6.6
28.6

54.1
3.6
17.1

113.5
6.7
30.9

57.9
3.2
18.0

+13.0

+13.0%

+4.0

+4.0%

+0.2

+2.7%

▲0.4

▲6.0%

+2.3

+8.1%

+1.8

+6.4%

▲ 0.1

▲ 0.1

▲ 0.1

▲ 0.1

+0.0

-

+0.1

-

1.7
▲0.1
▲ 0.3
130.7
6.1

0.5
▲ 0.2
▲ 0.1
71.7
3.1

1.9
▲ 0.1
▲ 0.8
146.3
5.7

0.6
▲ 0.2
▲ 0.4
76.5
2.6

+0.2

+11.0%+0.2+11.0%

+0.0

-

+0.0

-

-

-

-

-

▲0.6

-

▲0.6

-

+15.5

+11.9%

+6.0

+4.6%

▲0.3

▲5.2%

▲0.9

▲14.3%

2023 Nishimoto Wismettac Group All rights reserved.

5

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

6.1

0.2
▲0.6
5.7
▲0.0

FY2022 2Q[AFB]
Change innet sales[AFB]
Change inprofit margin

2023 Nishimoto Wismettac Group All rights reserved.

[Agricultural &Seafood Products]
Change innet sales

0.1[Agricultural &Seafood Products]
Change inprofit margin

▲0.5

0.6

Other
adjustments,
etc.

Impact offoreign currencytranslation

FY2023 2Q

6Consolidated Balance Sheet (Summary)◆ A stable financial base, including liquidity on hand, is maintained, and shareholders’ equity ratio
remained at around 40%.
(Unit: billions of yen)

End of 12/2022

End of 06/2023

Main reasons forchanges

Changesand deposits +9.1
+13.1 Cash
Trade receivables +2.9

Current assets

151.0

164.2

Non-current assets

28.2

29.6

+1.4

179.2

193.8

+14.5

Current liabilities

33.6

36.4

+2.8 Trade payables +2.1

Non-current liabilities

73.5

76.3

+2.8 Long-term loans payable +2.6

Total liabilities

107.2

112.8

+5.6

Total net assets

72.1

81.0

Total liabilities and assets

179.2

193.8

+14.5

132.70 yen

144.99 yen+12.29 yen

Shareholders' equity ratio

40%

42%

+2pt

Current ratio

449%

451%

+1pt

Total assets

Yen/Dollar exchange rate (Year-end rate)currency translation adjustment +6.4
+8.9 Foreign
Retained earnings +3.3

➢ 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

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

Q2 FYE 12/2022
Q2 FYE 12/2023
Year-to-date Actual Year-to-date ActualCash flows from operating
activities

▲ 8.9

9.0

ChangesYear-on year

Main reasons(ChangesYear-on year)
Change in inventories (▲ denotes anincrease) +13.8+17.9 Change in trade receivables (▲ denotes anincrease) +1.4

Purchase of shares of subsidiaries resulting ina change in the scope of consolidation +2.0
(The purchase occurred in the same period
last year. No such purchase occurred thisyear.)Cash flows from investing
activities

▲ 2.6

▲ 0.8

+1.8

Cash flows from financing
activities

▲ 0.4

▲ 2.6

▲2.2 borrowings (▲ denotes a decrease)▲2.8

4.6

3.5

Exchange rate change

Cash and cash equivalents

Q2 FYE 12/2022
Q2 FYE 12/2023
Year-to-date Actual Year-to-date Actual

Net increase (decrease) in short-term▲1.0

ChangesYear-on-year

Cash and cash equivalents at
beginning of period

65.6

75.8

+10.1

Net increase (decrease) incash and cash equivalents

▲ 7.4

9.1

+16.5

Cash and cash equivalents at
end of quarter

58.2

84.9

+26.7

2023 Nishimoto Wismettac Group All rights reserved.

Remarks8

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

Unit: billions of yen

275.2

304.0

213.2
158.3

172.1

182.2

182.6

168.4

Asia/Australia

EuropeNA

Japan

FYE 12/2016

FYE 12/2017

FYE 12/2018

2023 Nishimoto Wismettac Group All rights reserved.

FYE 12/2019

FYE 12/2020

FYE 12/2021

SSP (Germany 2020/2),
C3C (France 2020/7)
joined the WMCGroup as consolidated
subsidiaries

Sco-Fro Group(Scotland 2021/2)
joined the WMCGroup as aconsolidated
subsidiaryFYE 12/2022

BCM (Singapore
2022/1) joined the
WMC Group as aconsolidated
subsidiaryFYE 12/2023(Forecast)9

(Reference: AFB) Acquisition of an Italian Company Uniontrade in Europe◆

The Company has resolved to acquire 100% of the shares of Uniontrade S.p.A. (“UT”) and Uni Logistic S.r.l. (“UL”), which are basedin Italy, to make them its subsidiaries. (The scheduled share transfer date is October 31, 2023.)◆

By expanding our sales channels to the Italian market, we plan to expand our business foundation and profit-making
opportunities in Europe.

◆

Overview of UT and UL➢➢➢

One of the leading wholesalers of Japanese and other Asian food products in
Italy✓ UT is the core operating company, while UL performs certain logistics
functions of UT.
Based on its long-standing business relationships with restaurants and retailers,
UT sells food products and ingredients such as seafood, rice, and seasonings.
It is also engaged in the cash and carry of commercial food products forrestaurants. (*) Purchasing and taking out goods from a warehouse◆ Group-level benefits and vision➢➢

We plan to leverage the Wismettac Group's product lineup to offer a wider
range of value-added products.
By expanding our sales channels to the Italian market, we plan to further expand
our business foundation and profit-making opportunities in Europe.

2023 Nishimoto Wismettac Group All rights reserved.

(Unit:(単位：千ユーロ)
thousands of €)所在地
Location
設立年
Year established
資本金CapitalOperating
売上高
Net
sales
業績
Results(2022年) 当期純利益
Net profit(2022)

UT社
UT

UL社
UL

イタリア Italy
ミラノ
Milan,
1984年
1984

2017年
2017

800
800

10
10

85,67685,676

986
986

1,743
1,743

120
120

Existing
locations
New locations(UT/UL)10

Revision of Annual Profit Earnings Forecasts
for the Fiscal Year Ending December 2023

2023 Nishimoto Wismettac Group All rights reserved.

Revision of Annual Profit Earnings Forecasts for the Fiscal YearEnding December 2023
◆ Upward Revision of Annual Consolidated Earnings Forecasts: Aiming for Annual Operating
Income of 12 Billion Yen◆ Earnings results through the second quarter, the profit-boosting impact of continued depreciation of the yen, the impact ofhigher interest rates on the financial position of the Company, and other factors, are taken into account.
➢

The revised forecasts assume a JPY/USD exchange rate of 135 yen throughout the fiscal year (cf. the assumption used for the
initial forecasts: 130 yen)

◆ We will work to secure profit through appropriate price adjustments and inventory control, while closely monitoring the impact of
prolonged inflation on the economic growth and consumption trends of each country and on the changes in sales performance ineach region.

FY2022

Interim

FY2023Full Year

InterimFull Year
Forecast afterrevision

Beforerevision

Net sales

130.7 billion yen

275.2 billion yen

146.3 billion yen

304.0 billion yen 304.0 billion yen

Operating income

6.1 billion yen

10.5 billion yen

5.7 billion yen

12.0 billion yen

11.0 billion yen

Ordinary income

6.4 billion yen

10.8 billion yen

6.5 billion yen

12.5 billion yen

11.0 billion yen

Net income attributable to ownersof parent

4.5 billion yen

6.8 billion yen

4.4 billion yen

7.5 billion yen

7.3 billion yen(135.00)(130.00)(Average USD exchange rate during the year)

2023 Nishimoto Wismettac Group All rights reserved.

(131.43)12

Progress of Business Performance of Fiscal Year Ending 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.

Unit: billions of yen

Entirecompany

Existing

AFB

Agricultural& Seafood
Products

Domestic
BtoC

New

FY2022
Results

FY2023
Forecast afterrevision

FY2023Resultsthrough Q2

Sales

275.2

304.0

146.3

Profit

10.5

12.0

5.7

Sales

261.3

286.2

138.6

Profit

12.5

13.4

6.7

Sales

212.9

232.8

111.5

Profit

13.0

13.5

6.6

Sales

44.6

49.4

25.4

Profit

▲0.5

▲0.1

0.0

Sales

3.8

4.1

1.8

Profit

0.0

▲0.0

0.0

Sales

13.9

17.8

7.6

Profit

▲2.0

▲1.4

▲0.9

(USD exchange rate)(131.43)(135.00)(134.85)2023 Nishimoto Wismettac Group All rights reserved.

FY2023 Policies•

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

•

AFB aims to maintain its strong performance in North
America while working 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 foodto retailers and improve profitability outside North
America, even though the profit margin of raw
materials of food is expected to fall as the supplydemand balance normalizes and SG&A expenses are
expected to increase due to inflation.

•

We will work steadily to improve profitability byclarifying product-specific strategies and improving
the accuracy of purchase and sales plans, eventhough quality issues in producing areas andheadwinds on imported fruits and vegetables due tothe depreciation of the yen are expected to continue.

•

We will work to expand the lineup of productsthat we offer and sales channels, even thoughprofit 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).

13

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

Unit: billions of yen

New

AFB

Agricultural& Seafood
Products

Domestic
BtoC

Other
solutions

FY2022
Results

FY2023
Forecast afterrevision

FY2023Resultsthrough Q2Main Business
Activities

Sales

13.9

17.8

7.6

•

Profit

▲2.0

▲1.4

▲0.9

•

Sales

3.3

5.4

2.0

Profit

▲0.8

▲0.3

▲0.3

Sales

10.6

12.3

5.6

Profit

▲0.4

▲0.2

▲0.2

Sales

0.0

0.0

0.0

Profit

▲0.0

▲0.0

▲0.0

Sales

0.0

0.1

0.0

Profit

▲0.8

▲0.8

▲0.4

(135.00)(134.85)(USD exchange rate)(131.43)2023 Nishimoto Wismettac Group All rights reserved.

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 ofbrands that are handled by
the Company•

Development of B-to-B or B-to-C
digital solutions
Collaboration with startup
companies in food-related fields
Development and sales of foodproducts for disease patients andelderly people••

FY2023 Policies
•
•

•
•

Achieve sales growth byleveraging the customer base of
acquired companies
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 andoff-line platforms designed
to serve as a customer
touchpoint••

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

14

(Ref.) Breakdown of Strategic Investment◆

Continues to implement initiatives and investments to strengthen the foundations of existing businesses andevolve into new business models.

AmountAims
1Expansion
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◆ Diversification of the business portfolio

Measures◆ 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(including expenses/billions of yen)

2022

2023

Resultsthrough Q2

Results

Plan

0.8

0.9

0.4

1.1

1.1

0.4

0.1

0.2

0.1

0.2

0.6

0.1

◆ 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

0.0

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

0.3

0.3

0.2

◆ 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

1.3

2023 Nishimoto Wismettac Group All rights reserved.

15

Policy of Returning Profits to Shareholders

2023 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 futurebusiness development 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
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 (year-end dividend forecast isunchanged).

Dividend
payout ratio

The full-year consolidated dividend payout ratio is 30.6%.
Dividend per share(yen)

Year-end
dividend

Year-end
dividend

Interimdividend

Interimdividend

Year-end
dividend

Year-end
dividend

Interimdividend
Not Paid

Full-year consolidated
dividend payout ratio

Interimdividend

Interimdividend

FY ended
December 2020
(Results)

FY ended
December 2021
(Results)

FY ended
December 2022
(Results)

December 2023
(Forecast before
revision)

December 2023
(Forecast afterrevision)

28.2%

30.0%

30.5%

29.5%

30.6%

2023 Nishimoto Wismettac Group All rights reserved.

17

Corporate Profile◆ Two spheres symbolizing the Earth and Globalism⚫ Red is used to show Innovation, green represents Nature⚫ Expresses the Company's "lasting commitment to creating
healthier and richer lives through food"◆ Incorporates the letters "W" "M" and "C" fromthe Company name2023 Nishimoto Wismettac Group All rights reserved.

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

Nishimoto Wismettac: Corporate Profile
Founded in 1912, Nishimoto Wismettac has grown into a global company supplying food ingredientsand food products to markets 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 offood ingredients to food manufacturers and the restaurant sector◆ Other domestic sales activities (amenity products, supplements, medical food, etc.)

Subsidiaries and affiliates

Business sites

21 subsidiaries, 1 affiliate [As of June 30, 2023]
45 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

Consolidated net sales

275.2 billion yen (FY ended December 2022)

Consolidated ordinary
income10.8 billion yen (FY ended December 2022)

Shareholders' equity ratio*Overseas sales ratio 79.6%

39.9% (FY ended December 2022)

2023 Nishimoto Wismettac Group All rights reserved.

19

Wismettac Group in Japan and Abroad
The Company Group maintains 45 locations around the world in North America, Europe, Australia, and Asia and isdeveloping business globally. Among these, North America (the US and Canada) has 24 locations, which account forthe majority of sales.

・COMPTOIRS DES 3 CAPS・COMPTOIRS OCEANIQUES・TROPIC FISH
SSP Konsumgüter TRADE & CONSULT GmbH
Berlin Office

Calgary Office

Wismettac EMEA Holdings Limited

Denver Office(Established in January 2023)

Wismettac Asian Foods,
Inc. (Canada)

Wismettac Harro Foods Limited
WF Seoul Representative Office

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

Nishimoto Co., Ltd.
Wismettac Foods, Inc.
Privateport Co., Ltd.

(Scheduled to be made into a
subsidiary in October 2023)

Seattle Office

Sacramento Office

Wismettac Foods Shanghai Co., Ltd.

San Francisco Office

Shanghai IPM Co., Ltd.

Wismettac Asian Foods,
Inc.

Nippon Foods Co., Ltd.

・Uniontrade S.p.A.
・Uni Logistic S.r.l.

Las Vegas Office

SIM BA TRADING JTC
WF Ho Chi Minh Representative Office

WF Bangkok Representative Office

NTC Wismettac Singapore Pte. Ltd.
Ban Choon Marketing Pte. Ltd.

Hawaii Office

Chicago Office

Toronto OfficeMontreal Office
Boston Office
New York Office
Washington, DC OfficeRaleigh Office

Ohio Office

WF Kobe Branch

San Diego OfficeMiami Office

Arizona OfficeOrlando Office

Houston OfficeAtlanta Office

Dallas Office
NTC Wismettac Australia Brisbane Office
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"

2023 Nishimoto Wismettac Group All rights reserved.

20

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 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 not assume 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 the information presented, falsification of data by a third party, and any failure arising fromdownload 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 to translation.
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 Management Office
TEL: 03-6870-2015

2023 Nishimoto Wismettac Group All rights reserved.