Sapporo Group Business Results Presentation
for the Three Months Ended March 31, 2020

May 14th 2020
URL https://www.sapporoholdings.jp/en/

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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１． Business Results for the Three Months Ended March 31, 2020 ・・・P3~P18
２． Revision of Consolidated Earnings Forecasts

・・・P19~P20

３． Appendix

・・・P21~P33

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Business Results

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Impact of the Novel Coronavirus Outbreak (COVID-19)
Sapporo Group’s response policy and measures https://www.sapporoholdings.jp/announce/dit/?id=8643- We are continuing production and logistics operations at our business bases in and outside Japan so as
to fulfill our responsibility of supplying products to customers.
- Employees are telecommuting as a rule and business trips both domestic and international are banned
to prevent the spread of infection and mitigate risks- Collaboration and cooperation with local communities through provision of relief supplies and donations.

Impact on the FY2020 first quarter operating results
The impact on revenue and core operating profit in the first quarter and main factors are as follows.
Impact on
Impact on(billions of yen)core operating
revenue
profitMain factors

(5.0)

(2.0)

Alcoholic beverages in
Asia including Japan

(3.4)

(1.2)

Sales of commercial-use beer such as bottled and keg products at
Sapporo Breweries declined.

Restaurants

(1.3)

(0.7)

Sales of Ginza Lion and other restaurants at Sapporo Lion declined.

Group*The impact on Food & Soft Drinks and Real Estate has been negligible so far, but sales at vending machines, and Café deCrié and other restaurants have been stagnant.

Impact on full year operating results for FY2020(ref:p20)
With regard to the consolidated earnings forecast for FY2020, the difficulty in reasonably calculating the impact of the novel
coronavirus outbreak means the Company is unable to disclose fair and reliable forecast figures to shareholders and investors
at this time. The Company has therefore opted to omit the forecast figures and will submit them to a review. The Company willpromptly disclose the forecasts once it becomes possible to reasonably calculate the forecast figures.
Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Results Highlight（billions of yen）

2019
1Q

2020
1Q

YoY changes(amount/%)

Revenue
Revenue（Excluding liquor tax）

77.4

77.1

(0.3)

(0.3%)

Overseas revenue

16.2

15.2

(0.9)

(5.8%)EBITDA

0.2

(0.1)

(0.3)

-

(5.7%)(6.2%)

-

-

(4.1)

(6.1)

(1.9)

-

1.3

1.4

-

-

Core operating profit
Core operating profit margin
Operating profit
Profit attributable to ownersof parent
D/E ratio (times) ※Net*The balance of net debt excludes the balance of lease obligations.
Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Results Highlight
Overall revenue and profit declined. Food & Soft Drinks achieved revenue and profit growth andReal Estate performed solidly, but profitability worsened for Alcoholic Beverages, where theimpact of the novel coronavirus outbreak appeared early on.
Revenue

101.0
2019Q1YoY

Core Operating
ProfitProfit attributableto owners of parent

YoY

99.8

(5.8)

(6.2)

2020Q1 (billions of yen)

2019Q1

2020Q1

 Alcoholic Beverages: New genre products
led the year-on-year increase in sales
volume of beer and beer-type beverages
in Japan, but revenue declined reflecting
slow performance by commercial-use
beer, RTDs, and restaurants.
 Food & Soft Drinks: While restaurants,
vending machines, and commercial-use
products struggled, lemon-based drinks
led the year-on-year growth in sales
volume of soft drinks. Segment revenue
increased as food also performed strongly
together with the full-year contribution ofincreased earnings from the consolidationof Yasuma.

(billions of yen)

 Alcoholic Beverages: Profit declined
due to sluggish performance forcommercial-use beer and restaurants.
 Food & Soft Drinks: Profit increased
due to revenue growth and the impact
of cost reductions.

(3.6)
2019Q1

YoY(4.6)
2020Q1(billions of yen)

 There was a gain on sales of realestate in the previous fiscal year.

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Results Highlight
Capital expenditure (cash basis)

EquityBalance of net debt
Endof 20192019期末

1Q
2020
2020Q1

212.1 213.1

Endof 20192019期末
1Q
2020
2020Q1(billions of yen)

D/E ratio (net)174.5 152.7

Full-year
plan is underreview

6.1

YoY change

times +0.1 times

Transformation of the Groupmanagement platform(billions of yen)(billions of yen)Group Topics<January-March> Head office now simplified and muscular on the back ofstrengthened governance from the transition to a Company with
Audit and Supervisory Committee as well as the streamlining of
Sapporo Holdings https://www.sapporoholdings.jp/news/dit/?id=8611
 Sapporo Group companies were recognized under the “2020
Certified Health & Productivity Management Outstanding
Organizations Recognition (Large Enterprise Category)” program<January-March> Donation of sales at events such as the Dosanko Appreciation Day andthe Sapporo Beer Festival https://www.sapporoholdings.jp/news/dit/?id=8563
 Comprehensive Partnership Agreement concluded between Fukushima
Prefecture and Sapporo Holdings Ltd., and Sapporo Breweries Ltd.
https://www.sapporoholdings.jp/news/dit/?id=8564

https://www.sapporoholdings.jp/news/dit/?id=8602

 Sapporo Wellness Lab launched “Switch Lactic Acid Supplement”
https://www.sapporoholdings.jp/news/dit/?id=8609

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Revenue by Segment（billions of yen）

2019 1Q

2020 1Q

YoY changes(amount)

Revenue by Segment

YoY changes(%)(1.1%)

Alcoholic Beverages

66.3

Japan & Asia

50.0

(1.3)

(2.6%)

North America

10.3

(0.1)

(1.4%)

Restaurants

6.1

(1.5)

(25.5%)(4.5%)

28.5

6.5%

Real Estate

6.1(0.2%)

Other

0.0

Food & Soft Drinks

0.0

18.9%

Factors are explainedin the next slide
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Main Factors Contributing to Changes in Revenue
Revenue declined ¥billion YoY due to stagnation of beer, RTDs, and restaurants, despite
growth of new genre sales and contribution from Yasuma consolidation.
2019
1Q(billions of yen)

Alcoholic Beverages

Food & Soft Drinks= Increase= Decrease

Real Estate

Impact of full-year
contribution of consolidationof Yasuma +1.6

Japanese
liquor +0.5

2020
1Q

Incl. foreignexchange (0.2)

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Core Operating Profit by Segment（billions of yen）

2019 1Q

2020 1Q

YoY changes(amount)

Core Operating Profit bySegment

YoY changes(%)‐

Alcoholic Beverages(3.4)

Japan & Asia

(2.5)

(0.3)

‐

North America

(0.5)

(0.1)

-

Restaurants

(0.3)

(0.8)

-

Food & Soft Drinks

(2.0)

-

1.1

7.3%

(1.5)

-

Real Estate
Other・
General corporate andintercompany eliminations

Factors are explainedin the next slide
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Main Factors Contributing to Changes in Core Operating Profit
Core operating profit declined ¥billion due to decline in beer sales volume and restaurant
stagnation, despite increased profit from Food & Soft Drinks and strong new genre
performance(billions of yen)

Alcoholic Beverages

Food & Soft Drinks= Increase= Decrease

Real Estate
2020
1Q

2019
1Q

Japanese
liquor +0.2

Transportation
expenses (0.3)

Sales
promotion
costs (0.2)

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Profit attributable to owners of parent（billions of yen）

Core operating Profit

Other operating
incomeOther operating
expenses2019 1Q

2.7（Details）

Proceeds from sale ofYebisu Square +1.9

1.1

(4.1)

Profit before tax(4.5)

Income taxes(0.9)

Loss attributable tonon-controlling interest
Profit attributable toowners of parent

2020 1Q(5.8)

Operating Profit

Profit（Details）(3.8)

Loss from discontinued
operations(1.0)

(0.2)

(3.6)
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Alcoholic Beverages
Revenue and profit declined due to impact of novel coronavirus outbreak, even as total
domestic sales volume of beer and beer-type products increased
Positive  Strong performance of Black Label (cans) continued
 New product GOLD STAR performing strongly
 Sales volume of Sapporo Premium in North America
exceeded previous year’s level Sales volume of commercial-use beer and RTDs
declined
 Restaurants including Ginza Lion struggled<Future initiatives>
 Strengthen household market-related measures

 Respond to struggling outlets in the restaurant business Secure profit by controlling fixed costs, capital expenditure, andsales promotion expenses
 Improve manufacturing, supply-demand, and logistics structures

to respond to stock-out/wastage risks

Negative

Black Label brand canned products grew,
new genre also strong due to contribution from GOLD STAR
Black Label brand canned
product sales volume

New genre sales
volume<Topics>
 2020 Sapporo Breweries Business Policy
https://www.sapporobeer.jp/news_release/0000011762/

 Sales of GOLD STAR exceed 1 million cases
https://www.sapporobeer.jp/news_release/0000011879/

Up

% YoY

Up

% YoY

 Limited sale of Hokkaido Kiseki no Mugi Kitanohoshi(launched on May 12)https://www.sapporobeer.jp/news_release/0000011908/
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Food & Soft Drinks
Revenue and profit increased as sales volume of both soft drinks and food rose YoY, despite
struggling with the impact of the novel coronavirus outbreak Kireto Lemon continues to perform strongly
Positive  LEMON MADE, reintroduced as a full-year product,
also performing strongly
 Sales volume of food products rose YoY due to“stay-at-home” demand Scale of soy beans and chilled products business
continued to expand<Future initiatives>
 Strengthen household market-related measures Withdraw from unprofitable locations in the vending machine

business Pursue further growth in the food field Vending machine and commercial-use products sales
volume declined Secure profit by controlling fixed costs, capital expenditure, andsales promotion expenses

 Café de Crié and other restaurants struggled

 Improve manufacturing, supply-demand, and logistics structures

Negativeto respond to stock-out/wastage risks

Lemon-based products and food products in general were strong
Lemon-based drink
sales volume

Lemon-based foodproduct
sales volume

Soup sales volume

Soy beans and chilled
products sales
volume<Topics>
 Donated part of LEMON MADE sales to support
pediatric cancer researchhttps://www.pokkasapporo-fb.jp/company/news/release/200124_01.html

up

% YoY

up

% YoY

up

% YoY

up

% YoY
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Real EstateHigh occupancy rates maintained at core properties, which are performing solidly
Positive
 High occupancy rates maintained at core properties<Future initiatives>
 Secure profit by controlling fixed costs, capital
expenditure, and sales promotion expenses<Topics>
 Struggled in commercial areas
Negative

 Sapporo Real Estate through to final screening round andpitch contest grand prix of the Ebisu Sustainable City
Business Contest https://www.sapporore.jp/pdf/sapporore/store/storage/cname_20200115093425.pdf

Corporate, Other
We will steadily pursue the establishment of a simple and compact business structure forachieving the objectives of Group Management Plan 2024
<Key points><Future initiatives> Downsize the headcount of Sapporo Holdings workforce to
one third through organizational reform to create a simple
and muscular head office Streamline business processes through promotion of BPR
and pursue further workstyle innovation with increased
use of teleworking, etc.

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Changes in Balance Sheets
Total assets decreased ¥29.6 billion from year end

Cash and cash equivalents
現預金 Increased cash reserves as novel
coronavirus countermeasure
営業債権
Trade receivables

 Seasonal factors
棚卸資産
Inventories

Other current assets
流動資産その他

Total assets

15.2
92.5
36.5
11.5
155.9

Total assets

29.4
60.5
38.3
12.7
152.9

固定資産
Fixed assets

投資不動産
Investment property

のれん
Goodwill

非流動資産その他
Other non-current assets

 Due to decline in market
value of securities(billions of yen)

Current assets
YoY change(14.9)

Non-current assets

219.6

219.9

18.4
89.2

18.2
77.2

2019期末Endof 2019

2020Q1
1Q
2020

YoY change(14.8)

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Changes in Balance Sheets
Total liabilities declined ¥7.8 billion from year end, total equity fell ¥21.9 billionTradepayables
営業債務

Short-term
financial liabilities
短期金融負債 To procure cash reserves
流動負債その他
Other
current liabilities

Total liabilities andequityTotal liabilities andequity(billions of yen)

34.5
72.1

31.2
98.9

103.9
87.1

Current liabilities
YoY change+6.8Long-term
financial liabilities
長期金融負債

155.2
Net
defined benefit liabilities
退職給付に係る負債

5.0
93.5

Other
non-current liabilities
非流動負債その他

親会社所有持分
Equityattributable to owners of parent

 Decline in unrealized holding
gain on securities
非支配持分 interests
Non-controlling

174.1
0.5

2019期末Endof 2019

143.5
8.0
87.7
152.3

Non-current liabilities
YoY change(14.5)

EquityYoY change(21.9)

0.4

2020Q1
1Q 2020
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Financial Status
Investment on a cash basis was ¥8.1 billion<Investment total (①+②+③)> ¥<Consolidated cash flow (CF) statement>
2019
1Q results

2020
1Q results

ChangeChange(%)

CF from operating
activities

4.8

11.2

6.4

132.2%

CF from investing
activities

2.6

(7.1)

(9.7)

-

7.5

4.2

(3.3)

(44.1)%

(5.2)

10.2

15.4

-

(billions of yen)

CF from financing
activities<Changes in amount of investment (cash basis)><Major items>
・“Alcoholic beverages,” “Food,” and “Soft Drinks”-related:¥2.7 billion
Sapporo Breweries plant-related: ¥0.8 billion
Pokka Sapporo plant-related: ¥0.6 billion
Sleeman Breweries plant-related: ¥0.6 billion
・Investment properties: ¥2.7 billion
・Group-wide other: ¥0.7 billion

400
40② Lease fees: ¥

300
30
200
20
31.0
310

36.5
365

32.7
327

③ Other investments: ¥
8.1
81

0
2016

2017

2018

billion(excluding lease fees for renting restaurant premises)

41.8
418

100
10
0

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

Free CF(billions of yen)
500
50

➀ Capital expenditure (cash basis) : ¥billion2019

billion(including long-term prepaid expenses, investment securities, etc.)

2020
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Revision of Consolidated Earnings Forecasts

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Revision of Consolidated Earnings Forecasts
Revision of Consolidated Earnings Forecasts 2020
The businesses of the Sapporo Group have been impacted by the novel coronavirus outbreak since March. While there aresectors in which sales have been growing thanks to increased stay-at-home consumption since authorities issued requests forpeople to refrain from non-essential outings, sales of commercial-use products have declined. Moreover, restaurants, which areincluded in the Alcoholic Beverages and Food and Soft Drinks businesses, are temporarily closing or shortening their operating
hours in response to requests to do so from authorities following the state of emergency declaration in April.
The Sapporo Group is placing utmost priority on the health and safety of its employees and taking measures to prevent the

spread of the novel coronavirus including thorough implementation of teleworking, and encouraging employees to stay at home
and avoid the “3Cs” (closed spaces, crowded places, and close contact with others) when going out, including during outings
unrelated to work duties. At the same time, to fulfill its responsibility as an alcoholic beverage, food, and soft drink manufacturer
to supply products to customers, the Group is continuing to produce and supply beer-taste products and other alcoholic

beverages, drinking water, soup products, and lemon-based products while taking every measure to ensure the safety of
employees and prevent the spread of infection.
It is currently difficult to predict when the novel coronavirus pandemic will end, when the state of emergency will be lifted, andin which municipalities it will be lifted first, and this uncertain business environment is expected to continue. Under thesecircumstances, it is extremely difficult to provide a reasonable earnings forecast and the consolidated earnings forecast for the
fiscal year ending December 31, 2020 is therefore yet to be determined. The Company will disclose the forecast as soon as thisbecomes possible. Regarding dividends, we will maintain our previous forecast.
Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Major sales volume & sale
Sales:Beer (Japan) *including liquor tax

Sales Volume:Beer (Japan)(billions of yen)

(10,000 cases)

Jan. 1 -Jan. 1 -Mar.31, 2019

Mar.31, 2020

Beer

30.3

27.5

(2.8)

(9.3%)

Happoshu

1.7

1.4

(0.3)

(15.6%)New genre

8.0

10.9

2.8

35.4%

40.1

39.8

(0.2)

(0.6%)

Rebate subtracted from sales

(2.2)

(2.4)

(0.1)

ー

Total

37.8

37.5

(0.4)

(0.9%)

Jan. 1 Mar.31, 2019

Jan. 1 Mar.31, 2020

ChangeSapporo Draft Beer Black Label (total)

ー

ー

ー

(4.7%)YEBISU (total)

ー

ー

ー

(19.9%)

1 Beer (total)

ー

ー

ー

(9.4%)

Subtotal

2 Happoshu (total)

ー

ー

ー

(15.6%)

3 New genre beer products (total)

ー

ー

ー

35.4%

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

ー

ー

ー

3.3%

Non-alcoholic beer taste beverage

14

11

(3.0)

(21.4%)

Change(%)(10,000 cases)
Jan. 1 Mar.31, 2019

Jan. 1 Mar.31, 2020

ChangeOverseas brand (SLEEMAN, Anchor, etc.)

279

277

(2)

(0.7%)

Sapporo brand

84

87

3

3.6%

362

364

1

0.3%

58

34

(23)

(40.3%)

Other areas

58

34

(23)

(40.3%)

Total

420

398

(22)

(5.3%)

North America
Sapporo brandChange(%)

Change(%)(billions of yen)

Sales:Alcoholic Beverage (Japan)*Following the agreement of the Brewers Association of Japan, the sales volume of domestic beers
and beer-type beverages are disclosed only in the second and fourth quarters.

Sales Volume:Beer (International)

ChangeJan. 1 Mar.31, 2019

Jan. 1 Mar.31, 2020

ChangeDomestic wines

0.9

0.9

(0.0)

(1.7%)

Imported wines

Change(%)

1.6

1.5

(0.1)

(3.9%)

Wine (total)

2.6

2.4

(0.2)

(6.8%)

RTD, Spirits and Shochu (total)

8.7

8.3

(0.4)

(4.3%)

Subtotal

11.4

10.7

(0.7)

(5.7%)

Rebate subtracted from sales

(2.3)

(2.0)

0.3

ー

9.1

8.8

(0.3)

(3.5%)

Total

Sales:Food & Soft Drinks (Japan)(billions of yen)Jan. 1 -Jan. 1 -Mar.31, 2019

Mar.31, 2020

Soft Drinks

13.1

13.7

0.6

4.5%

Food（Lemon・Soups・Soy milk, chilled products）

6.7

7.1

0.5

6.7%

ChangeChange(%)

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

22/59

Appendix：Alcoholic Beverages (Japan)<Domestic beer and beer-type beverages:
YoY change in sales volume by genre><YoY changes in sales volume of beer and beer-type
beverages by genre>(Jan – Mar)

[Beer and beer-type beverages total] up Beer:

down

% YoY

％ y-o-y（％）(cumulative for each month)

200
175
150
125

 Happoshu: down

％ y-o-y100
75

 New genre: up

Jan1月％ y-o-y

Feb
2月

Mar
3月

Apr
4月

Happoshu
発泡酒

Beer
ビール

<Major domestic brands: YoY change in sales
volume>(Jan – Mar) Black Label branddown ％ y-o-y(cans: up％ y-o-y)

May
Jun
5月
6月

Jul
7月

Aug
8月

New
新ジャンル
genre

Sep
Oct
9月
10月

Nov 12月
Dec
11月

Beer and beer-type
ビール類合計beverages total<YoY changes in sales volume of main brands>(cumulative of each month)

（％）

140
120

 Yebisu branddown％ y-o-y10080 Mugi to Hop branddown％ y-o-yJan
1月 Feb
2月 Mar
3月

Apr
4月

Black Label brand
黒ラベルブランド計
total

May
5月

Jun
6月

Jul
7月

Aug
8月

Yebisu brandヱビスブランド計
total

Sep
9月 Oct
10月

Nov
Dec
11月 12月

Mugi to Hop brand
麦とホップブランド計
total

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

23/59

Appendix：Alcoholic Beverages (Japan)＜Main brand Jan- Mar Sales volume change＞＜ Beer lineup (Jan- Mar break down) ＞(10,000 cases)

400

12%

350
300

23%
250
200
150

65%

100
50

Black label

Yebisu

Other

0
2014

2015

2016

Black label brand total

2017

2018

Yebisu brand total

2019

2020

Mugi to Hop

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Japan)＜ Jan- Mar sales revenue ＞＜ Jan- Mar sales breakdown by category ＞※Incl. liquor tax(Billions of yen)

50.0
45.0
40.0

6%
19.3

14.4

35.0

13.9

12.7

11.7

6% 1%

Beer

54%
9.8

12.3

9%

Happoshu & New genre
Wine & Spirits

30.0Japanese liquor
25.0
RTD
20.0
Non-alcoholic beer
15.0

29.9

27.8

29.3

31.1

30.9

30.3

27.5

24%

10.0

*before subsidiary companies sales, elimination ofinter- company transactions and rebate deduction

5.0

0.0
2014

2015
Beer

2016

2017

2018

2019

2020

Happoshu & New genre

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

25/59

Appendix：Alcoholic Beverages (Japan)＜ Jan- Mar sales revenue ＞ (billions of yen)
4

3

2

1.7

3

1.6

1.6

1.7

1.6

1.6

1.5

4.0

2

2.9

1

1.4

1

1.2

1.1

1.1

1.1

0.9

0.9

0.9

0.9

1.0

2014

2015

2016

1.5

1.9

0

0
2014

2015

2016

2017

Japanese wine

2018

2019

2020

2017

2018

2019

2020

ＲＴＤ

Imported wine

4

2.5

3

1.5

0.5

1.2

1.1

1.3

1.4

2014

2015

2016

2017

-0.5
Spirits

1.7

1.9

2.1

2

3.5

3.3

2014

2015

3.6

3.8

3.8
2.8

3.3

1
2018

2019

2020

0
2016

2017

2018

2019

2020

Japanese liquor
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26/59

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, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Overseas)＜Overseas beer : YoY change in sales volume＞【North America Total】Unchanged y-o-y（10,000cases）

500(Jan – Mar) Overseas branddown＜ Overseas sales volume by brand(Jan-Mar) ＞

400
141

121

279

277

2019

2020

300

％ y-o-y200

 Sapporo brandup

100％ y-o-y0
海外ブランドOverseas brand【Other Areas Total】 down

％y-o-y（Main area：Asia pasific、Europe、Oceania）

 Sapporo brand：down(Jan – Mar)％y-o-y＜ Overseas sales volume by Area(Jan-Mar) ＞（10,000cases）

500
400

＜ Y-o-y change in domestic sales volume in Vietnam＞
120%

300

100%

200

80%

100

60%

サッポロブランド
Sapporo brand

58

34

362

364

0

40%
18.1Q 18.2Q 18.3Q 18.4Q 19.1Q 19.2Q 19.3Q 19.4Q 20.1Q

2019

North
北米
America

2020
その他地域
Other areas
Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Alcoholic Beverages (Restaurants)＜ Sales revenue and number of Sapporo Lion Outlets ＞※before rebate deduction(Billions of yen)

6
5（Jan- Mar）
200

188

179

4
3

＜Sapporo Lion outlets As of Mar 31, 2020 ＞

5.4

5.4

174

170

5.5

5.4

10 11

180

170
5.2

162

155

5.3

140

2

3.8

1
0

Tokyo Metroporitan

14

160

4

120

Kanto (excl. Tokyo)
Hokkaido

155 Outlets

Nagoya

71

100
2014

2015

2016

2017

Sales revenue

2018

2019

2020

TohokuOther

24

Number of outlets

Kansai21＜ Total number of outlets ＞＜Brands＞
Sapporo Lion

155

8

189 Outlets

New Sanko
Marushinkawamura

18 Hanei
Singapore

1

7
Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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

POKKA SAPPORO Food & Beverage ＞
Sales volume by genre(Jan- Mar)

【Lemon based-drinks】【Lemon-based food products】





up

％ y-o-yup

45%％ y-o-y8.58 million

Vending machines
Retailer

cases

55%
【Unsweetened tea drinks】【Soups】※Vending machines (end of Mar.)own brand machines : about 73,000+ Multi-brand machines

down％ y-o-yup％ y-o-y＜Japanese soft drinks
Sales composition by genre (Jan- Mar)>17%【Coffee drinks】【Soy milk, chilled products】





down

％ y-o-yup％ y-o-y3%

17% Coffee drinks
Lemon-based drinks

8.58 million

Tea drinks
Carbonated drinks

17%

cases

Water
Other

24%

22%

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Food & Soft Drinks＜ Food & Soft Drinks segment
Revenue break down by geographic area ＞【 Pokka Create Co., Ltd .】Jan- Mar Sales revenue

84%

up

billion％ y-o-y＜ Number of outlets as of Mar 31, 2020>

111

16%

East Japan59

206 outlets

Central JapanWest Japan

Japan

Overseas＜Japanese soft drinks
POKKA SAPPORO Food & Beverage＞
Sales composition (Jan- Mar)＜ Overseas soft drinks
POKKA Corporation (Singapore)＞
Sales composition (Jan- Mar)36

Decreased 2 outlets compared with2019 4Q（East -2、Central -1、West+1）

4%

28%

29%

¥17.0
billion

120

49
71%

68%
Soft drinks

Food

86

SG＄ million

Soy and Chilled productSingapore

Export206 outlets

Directory operated
FC

Decreased 2 outlets compared with2019 4Q（Directory operated -2、FC ±0 ）Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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Appendix：Real Estate＜ Information about
Investment property ＞＜ Major rental properties & occupancy rates：（Averages for 2020 1Q )>Site area（㎡）
Yebisu Garden Place（1）Ebisu First Square
Ginza Place
Strata Ginza（2）56,943
2,596

Floor area（㎡）

298,007
16,012(billions of yen)

400.0

Occupancy rate（%）

No. of floors

100

40 floors above ground,
5 below100

12 floors above ground,
1 below

300.0

645

7,350

100

11 floors above ground,2 below

1,117

11,411100

13 floors above ground,
1 below

200.0
100.0

*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)

0.0

402.1

386.0

219.6

215.5

As of December 31,

As of December 31,

2018

2019

Carrying value on the consolidated
statement of financial position

Fair value(billions of yen)(billions of yen)＜Core Operating profit＞

2019
1Q

2020
1Q

Change＜EBITDA＞

2019
1Q

2020
1Q

ChangeYebisu Garden Place, etc.

1.0

1.0

0.0

Yebisu Garden Place, etc.

1.7

1.8

0.1

Hokkaido

0.1

0.0

(0.1)

Hokkaido

0.2

0.2

(0.1)

Other area & otheroperations

0.3

0.3

0.0

Other area & otheroperations

0.7

0.7

0.0

General corporate

(0.7)

(0.6)

0.1

General corporate

(0.3)

(0.2)

0.1

Total

0.7

0.8

0.1

Total

2.4

2.5

0.1
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As an intrinsic part of people's lives, Sapporo will contribute to
the evolution of creative, enriching and rewarding lifestyles.

Copyright, 2020 SAPPORO HOLDINGS LTD. All rights reserved.

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