Sapporo Group Business Results Presentation
for the Nine Months Ended September 30, 2022

*In this document, the following company name abbreviations are used:
SH: Sapporo Holdings Limited

SB: Sapporo Breweries Ltd.

PS: Pokka Sapporo Food & Beverage Ltd.

SLN: Sapporo Lion Limited.

November 9th 2022
URL https://www.sapporoholdings.jp/en/

SRE: Sapporo Real Estate Co., Ltd.

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１． Summary

・・・P3~P4

２． Business Results

・・・P5~P16

３． Appendix

・・・P17~P29

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Summary

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Summary➢ FY2022 Q3 Results
・Increased revenue and profit achieved in Q3
・The initial annual plan is expected to be achieved.

➢ Medium-Term Management Plan (2023-2026)
・Basic policy：“Beyond150 - New Growth Through Business Structure Transformation -”・Management with a strong awareness of capital efficiency：Achieve ROE of 8% in 2026
・A plan with high probability of achievement with various measures

・Transformation of real estate business：Improve profitability and asset efficiency bydiversifying the earnings structure
・Sustainability management：Aiming to enhance corporate value by realizing economic
value and social value
For details of the new medium-term management plan, please refer to the "Medium-Term Management Plan PowerPoint".
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Business Results

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Financial Highlights for Q3 in FY2022（billions of yen）

2021 Q3
Result2022 Q3
ResultYoY changes(amount)

YoY changes
(%)

309.1

345.8

36.8

11.9%

Revenue（Excluding liquor tax）

234.5

261.6

27.2

11.6%

Overseas revenue

54.7

72.5

17.9

32.7%

EBITDA

16.9

20.9

23.3%

Core operating profit

1.5

5.7

Operating profit

0.5%
23.9

1.7%
7.5

Profit attributable to owners of parent

15.7

5.3

1.1

1.2

3.9
4.2
1.2%
(16.4)(10.4)
0.1

RevenueCore operating profit margin

D/E ratio (times) ※Net

272.4%
ー(68.5%)(66.3%)
ーThe balance of debt excludes the balance of lease obligations.

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Financial Summary for Q3 in FY2022
Continuous growth of overseas alcoholic beverages in North America, increased revenue due to the recovery in demand for the restaurant market
Despite the impact of rising input costs continue, increased core operating profit thanks to revenue increase and cost structure reforms in the restaurant
business and in food and soft drinks.

Reasons for changes in core operating profit

Reasons for changes in sales revenue(billions of yen)(billions of yen)

= Increase= Increase

2022
Q3

= Decrease

YoY changes= Decrease(raw material costs (6.0))2021
Q3Structuralreform +1.3

Transfer of cafe
business (3.1)

YoY changes

2022
Q3

Sale of
Property
(0.7)
2021
Q3

(Of which exchange rate +8.5
(Overseas Alc. Bev. +6.6, Overseas Soft Drink +1.9))
M&A (0.4)

Sale of
Property(0.4)

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Material, Transportation, and Energy Cost Increases
Forecast for FY2022
Costs are expected to increase 8.5 billion yen on an annual basis (1.5 billion yen higher than forecast in Q2).

Jan.-Sep. Results

Oct.-Dec. Outlook

・Rising raw material costs ¥(4.1) billion
・Other cost increases ¥(1.9) billion(Domestic ¥(3.5) billion, overseas ¥(2.5) billion)

・Rising raw material costs ¥(1.8) billion
・Other cost increases ¥(0.7) billion(Domestic ¥(1.4) billion, overseas ¥(1.1) billion)

Respond with price revisions, cost controls, etc.
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Alcoholic beverages in Japan
Increase in revenue and profit attributed to the recovery in demand for restaurant business and transient demand ahead of pricerevisions despite upfront brand investment and more variable costs due to soaring raw material prices and fixed costs from
Sendai Brewery depreciation, etc.
＜Revenue＞（billions of yen）
2021

2022

Primary change factors
・Beer and beer-type +¥14.9 billion

Growth strategy

Recovery from COVID-19➢ RTD achieved growth by 1% (sales volume)
Koime no Lemon Sour gained 38% increase(sales volume)
Good sales record for the new productMitsuboshi Grape Fruit Sour

➢ change in commercial-use productsales (comparison to FY2019)

・RTD +¥0.5 billion, Japanese liquor, wine and spirits,
158.3

178.4

RTD growths

etc. +¥3.3 billion

Koime no Lemon Sour (sales volumes)
again exceed previous year

・Export +¥0.8 billion
・Other +¥0.6 billion+71%

Jan-Sep

+18%

+33%

＜Core operating profit＞（billions of yen）
Primary change factors
2021

2022

COVID-19
countermeasures

・Beer and beer-type: Increase in volume +¥6.0 billion,
container composition ¥(1.0) billion

Growth strategy

Continue to increasecanned beer sales

・RTD, wine and spirits, etc., Japanese liquor: Increase involume +¥0.9 billion
4.7
2.4

・Raw material costs ¥(1.8)billion
・Fixed costs ¥(2.8) billion(Of which advertising costs ¥(0.7) billion, accelerated

Jan-Sep

depreciation ¥(0.8) billion)➢ Beer sales increased by 20% in total➢ Canned beer sales increased by 2% in total
Structural Reforms

Institute in-house production of RTD
at Sendai Brewery and increase
productivity at breweries

Preparation to start RTD manufacturing facility
operation in 2023 is currently underway
From 2023: Improvement in productivity is expected
to increase core operating profit of 1.0 billion yen
From 2024: In-house production could generate core
operating profit of several hundred million yen

・Other (rebate reduction, subsidiaries, etc.) +¥1.0 billion
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Alcoholic beverages in Japan - Future Strategy for the Yebisu Brand As the pioneer of the premium beer category, Yebisu has enhanced and expanded the appeal of beer
Starting in 2021, we launched the “Color Your Time!” campaign, which strengthens proposals that color customers’ times.

We are strengthening actions that highlight our real and digital contact points with customers.
New contact point for real experiences
Urban beer brewing in Ebisu (scheduled to open end of 2023)

Digital platform
YEBISU BEER TOWN

Launch of new high addedvalue products
Yebisu Hop Terroir
100% fine aroma hops from Žatec

This members-only online community is a citywhere Yebisu-lovers can connect.
Interactive communication functions were
implemented in September, and the site began fullscale operations.

New station shopping
connects the station with the city

YEBISU BAR at YGP* entrance* YGP: Yebisu Garden Place
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Alcoholic beverages in overseas*SPB: SAPPORO PREMIUM BEER

The demand recovery for restaurant business and steady sales with the expansion of SPB* home-use products led to an increase in revenue.
Due to rising raw material costs, transportation costs, and cost for acquiring of Stone Brewing Co. LLC, core operating profit remained declined＜Revenue＞（billions of yen）
2021

2022

Primary change factors

Growth strategy

Overseas sales volume by brand (Jan-Sep)（10,000 cases）➢ Compared to the previous fiscal year,
promotion for the premium beers has
increased and more growth in RTD
business➢ While total demand was down 4%,
our performance was up 1%

・Foreign currency +¥5.6 billion, exchange rate +¥6.6 billion
Canada +¥8.1 billion(Of which exchange rate +¥4.9 billion)
51.7

Canada: Promote premium beers
and strengthen RTD business

United States +¥3.9 billion

39.5

Growth strategy(Of which exchange rate +¥1.6 billion)

United States:
Strengthening SAPPORO brand

Vietnam +¥0.2 billion
Jan-Sep(Of which exchange rate +¥0.1 billion)＜Core operating profit＞（billions of yen）
2021

（10,000 cases）

2022
Primary change factors
・Canada +¥0.3 billion
・United States ¥(1.2) billion(Of which M&A expenses ¥(0.4) billion, Stone ¥(0.3) billion)

1.6
1.0

Overseas sales volume by Area (Jan-Sep)➢ Driving sales of SAPPORO brand significantly
higher year-over-year (recovery of commercialuse products and expansion of retail stores forhome-use products)➢ While total demand was down 2%,the SAPPORO
brand was up a massive 18%➢ Early creation of synergy with Stone【Stone】A business loss is expected in FY2022.
We will achieve an early return to profitability
through the creation of synergies through M&A.

・Vietnam +¥0.4 billion

Jan-Sep
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Alcoholic beverages in restaurants
The demand recovery for restaurant business and decrease in fixed costs from structural reforms led to an increase in core operating profit.
Structural Reforms

Recovery from COVID-19＜Revenue＞（billions of yen）
2021

➢ Restaurant business: change in sales
at current stores of Sapporo Lion
Limited (comparison to FY2019)

2022

Status of recovery in profitability
through structural reforms➢ Profitability achieved in Q2, Q3

Primary change factors
・Recovery in demand for restaurant business
Sales at current stores of Sapporo Lion Limited
10.8(comparison to FY2019): 69%
4.2
FY2021: 295%
Jan-Sep＜Core operating profit＞（billions of yen）
2021

COVID-19
countermeasures

Sales revenue and number of Sapporo Lion Outlets(Billions of yen)2022

※before rebate deduction（Jan- Sep）

Total number of outlets
(0.8)
(3.9)

Primary change factors
・Effects of structural reforms
Reduction of retail stores (FY2021: down 22%)153 Outlets
Jan-Sep
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Food & Soft Drinks
Revenue was down due to sale of café business and reorganization of vending machine operator subsidiaries while revenue increased the overseas
Core operating profit increased thanks to contribution of structural reforms*all lemon：lemon beverages + lemon food＜Revenue＞（billions of yen）
2021

2022

Primary change factors
・Vending machines ¥(3.4) billion
・Transfer of CAFÉ de CRIÉ business ¥(3.1) billion

Growth strategy

Growth strategy

Expansion of sales for all lemon*-based products

Accelerated growth in overseas business➢ Net sales of lemon beverages remained strong
and same level as the previous year, despite arebound from stay-at-home demand
Changes in sales volume forlemon beverages and lemon Food

➢ Contribution made by sales in Singapore
and more than 60 nations worldwide➢ Increase by 8 % in Singapore, 28% growthfor export (sales amount)・Overseas +¥4.7 billion
90.4

89.5

Overseas changes in composition ratio offood & soft drinks revenue* the growth rate when standardized as 100 for 2019
（Jan- Sep）

*Excludes consolidation adjustments.

(Of which exchange rate +¥1.9 billion)
・Other +¥0.9 billion

Jan-Sep＜Core operating profit＞（billions of yen）
Primary change factors
・Japan +¥0.9 billion
2021

2022

Structural reforms +¥1.3 billion,
rise of raw material costs ¥(1.5) billion
rebate reduction, product mix +¥0.6 billion

0.8
Other +¥0.5 billion(0.3)

・Overseas +¥0.2 billion
Net sales increases +0.4 billion, rise of raw

Jan-Sep

material costs ¥(0.2) billion

Structural Reforms

Reorganization of vending machine operator subsidiaries➢ Planning liquidation by 2022
➢ From 2023: Likely to generate operating profit of 700
million yen (comparison to FY2020)
Transfer of cafe business➢ Business sold in April, 2022
➢ From 2022: Likely to generate core operating profit of
800 million yen (comparison to FY2020)
Reorganize business locations of Shinsyu-ichi Miso
➢ Production site sold in February, 2022
➢ From 2022: Likely to generate an core operating
profit of 400 million yen (comparison to FY2020)

Singapore sales composition (Jan- Sep)

169
SG＄ million

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Real Estate business
The sales of properties last year and decrease of rent over the renovation for YGP commercial complex* led to decrease in revenue and profit＜Revenue＞（billions of yen）

Growth strategy

Strategic leasing through YGP* property value enhancement and rebranding
2021

2022
Primary change factors
・Property sale last year (0.7) billion

16.5

・YGP* commercial area renovations ¥(0.3) billion
15.2
・Other (YGP* office buildings, etc.) ¥(0.3) billion

Jan-Sep➢ Foodies Garden opens in April➢ Grand opening of commercial area* In November➢ Seismic damping work completed, making the building a state-of-the-art seismicallydamped building for greater safety and peace of mind
YGP* grand opening
・All floors from B1 to 2F open November 8 (Tuesday)
・The building will have a total of 25 tenants, including new business models such as GOLDWIN
and DCM. It will have the largest sales floor area in the Kanto area. The office area, which
proposes a new way of working, will loosely gather tenants with a comfortable sense of
distance.

＜Core operating profit＞（billions of yen）
2021

2022
Primary change factors
・Property sale last year (0.4) billion
・YGP* commercial area renovations ¥(0.6) billion

6.4
4.8

・Utilities costs ¥(0.2) billion

Growth strategy
・Other (YGP* office buildings, etc.) ¥(0.3) billion

Jan-Sep

Grow profits of new businesses using equity investments, etc.
➢ One equity investment (Q1), two equity investments (Q2), one equity investment (Q3)
*YGP: Yebisu Garden Place, commercial complex: center plaza
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Profit attributable to owners of parent（billions of yen）

Core operating Profit

2021 Q3
ResultDetails

1.5

2022 Q3
Result5.7
Gain on sales of fixed assets, etc.
¥(23.2) billion

Gain on sales of fixed assets, etc.

Other operating income

25.5

Other operating expenses

3.1

1.9

Operating Profit

23.9

7.5

Profit before tax

23.9

9.0

Income taxes

8.2

3.7

15.7

5.3

(0.1)

0.0

15.7

5.3

ProfitProfit (loss) attributable tonon-controlling interest
Profit attributable toowners of parent

Details

3.7 ¥(1.6) billion

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Sustainability Management Initiatives
Harmony with the environment

Co-prosperity with society

Biodegradable plant-derived bioplastic cups introduced atMade donation to Hokkaido Marine Resource Restoration Project through

RISING SUN ROCK FESTIVAL 2022 in EZO

shareholder benefit program and Supported Nature Conservation Activities

We developed bioplastic cups to provide a new opportunity to experience participatingin Hokkaido where the Company was foundedin environmental activities while enjoying draft beer.
As the first of these opportunities, we started a new initiative to use the cups at music
festivals. This is the first example of bioplastic cups being used at a large music festival

We donated 2,638,000 yen to a marine resource restoration project in Hokkaido on top ofmatching a donation of 1,319,000 yen by shareholders through the shareholder benefit
program in FY2021.

in Japan.
The used cups are biodegraded together with food scraps and other biomatter,
generating compost that can improve the quality of soil in fields, realizing the recyclingof resources.

Positive impact finance agreement signed(1) Signed an agreement with Sumitomo Mitsui Trust Bank, Limited on positive impact finance,a business financing scheme offered by SMTB that does not specify the uses of funds(2) Signed syndicated positive impact finance agreement with Mizuho Bank, Ltd. as the arranger

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Appendix

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Appendix: Quarterly results for FY2022
2021 Q1

2022 Q1

YoYchangesYoYchanges

2021 Q2

2022 Q2

YoYchangesYoYchanges

2021 Q3

2022 Q3

YoYchangesYoYchangesResultResult(amount)(%)

ResultResult(amount)(%)

ResultResult(amount)(%)（billions of yen）

Revenue by Segment

89.9

93.2

3.4

3.7%

109.8

120.5

10.7

9.8%

109.4

132.0

22.7

20.7%

Alcoholic Beverages

56.6

60.6

3.9

6.9%

73.9

85.6

11.7

15.8%

71.5

94.8

23.3

32.6%

44.7
10.2
1.8

46.1
12.1
2.3

1.5

3.3%

9.6%
22.4%

7.0

47.6%

0.5

29.9%

2.8

221.2%

68.7
21.7
4.4

23.4%

3.3

55.7
14.7
1.1

13.0

18.8%

63.6
17.9
4.1

5.6

1.9

58.0
14.6
1.3

3.3

304.6%

27.6

27.7

0.1

0.4%

30.4

29.8

(0.6)

(1.9%)

32.4

32.0

(0.4)

(1.3%)

Real Estate

5.6

5.0

(0.7)

(11.8%)

5.5

5.1

(0.4)

(7.0%)

5.4

5.1

(0.2)

(4.6%)

Other

0.0

0.0

(0.0)

(27.0%)

0.0

0.0

(0.0)

(15.4%)

0.0

0.0

(0.0)

(9.4%)

Core Operating Profit
by Segment

(6.9)

(6.4)

0.5

-

3.4

4.2

0.9

25.2%

5.0

7.9

2.9

58.0%

Alcoholic Beverages

(5.0)

(3.9)

1.1

-

2.1

3.4

1.3

64.8%

3.0

5.4

2.4

80.7%

(3.0)
(0.3)
(1.7)

(2.8)
(0.1)
(1.0)

0.2

-

9.9%
(33.0%)(0.6)(40.5%)

0.8

-

1.2

-

4.5
0.8
0.1

68.0%

(0.2)

2.7
1.4
(1.1)

1.8

-

3.0
0.3
0.1

0.3

0.2

2.7
0.5
(1.1)

1.1

-

(1.1)

(1.0)

0.1

-

(0.0)

0.2

0.3

-

0.9

1.6

0.7

85.7%

0.7

0.1

(0.6)

(87.4%)

3.1

2.5

(0.6)

(19.2%)

2.6

2.3

(0.4)

(13.6%)

(1.5)

(1.6)

(0.1)

-

(1.7)

(1.9)

(0.2)

-

(1.5)

(1.3)

0.1

-

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Japanese
Overseas
Restaurants
Food & Soft Drinks

Japanese
Overseas
Restaurants
Food & Soft Drinks

Real Estate
Other・General corporate andintercompany eliminations

Appendix：Changes in Balance Sheets（billions of yen）

Total assets
Cash and cash equivalents
Trade receivables
Inventories
Other current assets
Fixed assets and intangible
assetsInvestment property
Goodwill
Other non-current assets
Total assets

End of 2021

2022Q3change

17.4

19.5

2.1

91.5

82.0

(9.6)

39.2

47.2

8.0

19.7

17.6

(2.1)

128.5

145.1

16.6

203.2

207.6

4.4

19.2

37.5

18.3

75.8

83.5

7.6

594.6

640.0

45.5

Total liabilities and equity
Trade payables
Short-term financial liabilities
Other current liabilities
Long-tern financial liabilities
Net defined benefit liabilities
Other non-current liabilities
Total liabilities
Equity attributable to ownersof parent
Non-controlling interests
Total equity
Total liabilities and equity

End of 2021

2022Q3change

33.2

33.7

0.4

61.2

90.6

29.4

116.1

94.2

(21.9)

136.9

145.4

8.4

0.3

4.1

3.8

83.4

98.0

14.5

431.2

465.9

34.6

162.6

173.2

10.7

0.8

0.9

0.1

163.3

174.1

10.8

594.6

640.0

45.5

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Appendix： Financial Status
Investment on a cash basis was ¥billion＜ Investment total (①＋②＋③)> ¥＜Consolidated cash flow (CF) statement＞（billions of yen）

2021 Q3
Result2022 Q3
ResultChangeChange (%)

26.9

13.5

(13.5)(50.0%)

CF from investing activities

17.7(41.9)(59.6)

ー

44.6(28.5)(73.1)

ー(51.5)

30.8

82.3

ー

CF from financing activities

billion（Property, plant and equipment, intangible assets, investment property）

CF from operating activities

Free CF➀ Capital expenditure (cash basis): ¥billion＜ Major items ＞
・ Alcoholic Beverages: ¥4.8 billion
SB: ¥2.3 billion Sleeman ¥1.7 billion

・ Food & Soft Drinks: ¥1.8 billionPS：¥1.0 billion（billions of yen）

<Changes in amount of investment (cash basis)>

POKKA PTE. LTD.：¥0.2 billion

・ Real Estate: ¥11.6 billion
Acquisition of investment property

50.0・ Group-wide: ¥0.7 billion

40.0② Lease fees: ¥

30.0
20.0

31.0

36.5

48.7

41.8

billion(excluding lease fees for renting restaurant premises)

33.0

32.7

24.7

10.0

③ Other investments: ¥billion（Acquisition of stock in Stone Brewing Co., LLC：¥22.6 billion
Invest in property’s equity etc.）

0.0
2016

2017

2018

2019

2020

2021

2022
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20/29

Appendix： Major sales volume & sale
(Beer and beer-type beverages and non-alcoholic beer calculations based on large bottles,RTDs are calculated by 250 ml × 24 bottles.)Sales Volume:Beer (Japan) ※1(10,000 cases)
Jan. 1 -Jan. 1 Sep.30, 2022

Sapporo Draft Beer Black Label (total)

ー

ー

24.6%

YEBISU (total)

ー

ー

1.2%

1 Beer (total)

ー

ー

20.3%

2 Happoshu (total)ーー(4.0%)

3 New genre beer products (total)ーー(3.8%)

Beer, happoshu, and new genre （total 1+2+3）

ー

ー

10.7%

RTD

930

935

0.5%

Non-alcoholic beer and low alcohol beer taste beverage

53

53(0.4%)

Sales Volume:Beer (International)

Sapporo brandNorth America
Sapporo brand
Other areas
Total(billions of yen)Jan. 1 -Jan. 1 -YoY

Sep.30, 2021

Sep.30, 2022

Change(%)

Beer

86.9

104.0

19.7%

Happoshu

4.7

4.5(3.7%)New genre

34.4

32.4

(6.0%)

Subtotal

126.0

140.9

11.8%

Rebate subtracted from sales

(7.8)

(7.5)

ー

Total

118.2

133.4

12.8%

YoY

Sep.30, 2021

Overseas brand (SLEEMAN, Anchor, Stone, etc.)

Sales:Beer (Japan) *including liquor tax

Change(%)

Sales:Alcoholic Beverage (Japan)(billions of yen)Jan. 1 Sep.30, 2021

Jan. 1 Sep.30, 2022

YoY
Change(%)

Domestic wines

2.2

2.4

5.6%

Imported wines

3.9

4.6

18.6%

Wine (total)

6.1

7.0

13.9%

(10,000 cases)
Jan. 1 -Jan. 1 -YoY

Sep.30, 2021

Sep.30, 2022

Change(%)

1,008

1,039

3.0%

Spirits and Shochu (total)

16.9

19.3

14.0%

275

319

16.0%

RTD

16.3

16.8

3.3%

1,283

1,358

5.8%

Subtotal

39.4

43.1

9.5%

132

180

35.7%

Rebate subtracted from sales

(7.5)

(7.5)

(0.1%)

Total

31.8

35.6

11.8%

132

180

35.7%

1,416

1,538

8.6%

Sales:Food & Soft Drinks (Japan) ※2(billions of yen)Jan. 1 -Jan. 1 -YoY

Sep.30, 2021

Sep.30, 2022

Change(%)

Soft Drinks

47.2

45.7

(3.1%)

Food（Lemon・Soups・Plant milk）

21.9

21.8

(0.4%)※1：Following the agreement of the Brewers Association of Japan, the sales volume for the first half and end of the fiscal year shall be disclosed.
※2：Pokka Sapporo is only domestic sales.

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Appendix：Alcoholic Beverages (Japan)<Domestic beer and beer-type beverages:
YoY change in sales volume by genre><Major domestic brands: YoY change in sales volume>(Jan – Sep)

(Jan – Sep)

[Beer and beer-type beverages total] up% YoY✓ Black Label brand％ y-o-yup✓ Beer:up✓ Happoshu: down

％ y-o-y％ y-o-y✓ Mugi to Hop branddown✓ New genre: down

％ y-o-y✓ YEBISU brandup％ y-o-y✓ GOLD STARup

％ y-o-y％ y-o-y<YoY changes in sales volume of beer and beer-type
beverages by genre>（％）<YoY changes in sales volume of main brands>（％）(cumulative of each month)(cumulative for each month)

Copyright, 2022 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Japan)＜Main brand Jan- Sep Sales volume change＞(10,000 cases)(Jan – Sep)

＜ Beer lineup sales volume(Jan- Sep break down) ＞(Jan – Sep)

Copyright, 2022 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Japan)＜Jan- Sep sales revenue＞＜ Jan- Sep sales breakdown by category ＞(billions of yen)

※Incl. liquor tax*Before subsidiary companies sales, elimination ofinter- company transactions and rebate deduction*From 2021, Hyosai Sour and 99.99 keg
are reclassified from Spirits to RTD.

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Appendix：Alcoholic Beverages (Japan)＜ Jan- Sep sales revenue ＞ (billions of yen)

*From 2021, Hyosai Sour and 99.99 keg
are reclassified from Spirits to RTD.

Copyright, 2022 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Japan)＜Changes in the amount of liquor tax per 350 ml＞

（yen）

77
70
63.35
Beer

54.25

Happoshu
New genre

46.99
37.8

RTD

✓ Beer and Beer
type beverages
yen

✓ RTD
yen

35

28

2020

2023

2026

（year）

Copyright, 2022 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Food & Soft Drinks＜ Japanese soft drinks＜Japanese soft drinks
POKKA SAPPORO Food & Beverage ＞
POKKA SAPPORO Food & Beverage＞
Sales composition by sales channel (Jan- Sep)
Sales composition (Jan- Sep)

＜Japanese soft drinks
Sales composition by genre (Jan- Sep)>

67.5
billions

27.78 million
cases

27.78 million
cases＜ Japanese soft drinks POKKA SAPPORO Food & Beverage ＞

Sales volume & Sales by genre(Jan- Sep)

【Lemon based-drinks】【Unsweetened tea drinks】【Coffee drinks】

✓

✓

✓

up

％ y-o-y（Sales volume）

up％ y-o-ydown％ y-o-y（Sales volume）（Sales volume）【Lemon-based food products】【Soups】【Soy milk, chilled products】

✓

✓

✓

down

％

（Sales）

y-o-yup％ y-o-y（Sales）up％ y-o-y（Sales）
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Appendix：Real Estate＜ Information about Investment property ＞＜ Major rental properties & occupancy rates：（Averages for 2022 3Q )>Yebisu Garden Place（1）Ginza Place
Strata Ginza（2）Site area（㎡）

Floor area（㎡）

Occupancy rate（%）

No. of floors

56,943

298,00785

40 floors above ground,
5 below

645

7,350

99

11 floors above ground,2 below100

13 floors above ground,
1 below

1,117

11,411(billions of yen)

400.0
300.0
200.0

100.0

408.1

382.9

218.6

203.2

0.0

*1: The number of floors is for the office block only. Occupancy rates are for office areas only.
*2: Figures are for entire property. Sapporo owns 922m 2 of the site (sectional ownership) and 89.72% of the building(joint management)

As of December 31,

As of December 31,

2020

2021

Carrying value on the consolidated statementof financial position
Fair value(billions of yen)(billions of yen)＜Core Operating profit＞

2021
Q3

2022
Q3

Change＜EBITDA＞

2021
Q3

2022
Q3

ChangeYebisu Garden Place, etc.

5.0

3.7

(1.4)

Yebisu Garden Place, etc.

7.3

6.0

(1.3)

Other area &other operations

1.9

1.5

(0.4)

Other area &other operations

2.8

2.0

(0.8)

Hokkaido

0.5

0.5

(0.0)

Hokkaido

1.0

0.9

(0.0)

General corporate

(1.0)

(0.9)

0.2

General corporate

(0.6)

(0.5)

0.1

Total

6.4

4.8

(1.6)

Total

10.5

8.5

(2.0)
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As an intrinsic part of people's lives, Sapporo will contribute to
the evolution of creative, enriching and rewarding lifestyles.

This document was prepared for the purpose of providing information to serve as a reference for investors in making investment decisions and not
for the solicitation of investment or any other similar such actions.
The earnings forecasts and forward-looking statements contained in this document were prepared based on the judgment of the Company as ofthe date of this document and include potential risks and uncertainties.
Actual published future results may therefore differ materially from the content of this document.
The Company shall not in any way be responsible or liable for any losses or damages resulting from the use of the information in this document.

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