Coca-Cola East Japan
Q4 & Full-Year 2016
Earnings Presentation
Calin Dragan, CEO
Jawahar Solai, CFO
February 10, 2017
(Posted to CCEJ Website February 9, 2017)
コカ･コーライーストジャパン株式会社
www.ccej.co.jp

CCEJ Q4/Full-Year 2016

Forward-Looking Statements
The plans, performance forecasts, and strategies appearing in this material are based on the assumptions and judgment of the management ofCoca-Cola East Japan Co. Ltd. (CCEJ) in view of data obtained as of the date this material was released. These forecasts may differ materially from
actual performance due to risks and uncertain factors such as those listed below.
Risks and uncertain factors are not limited to the items listed below. They are also included in our annual securities report, or “Yuka Shoken
Houkokusho”.
• Intensification of price competition in the marketplace• Change in economic trends surrounding our business• Major fluctuations in capital markets• Fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen and the U.S. dollar• Increases in prices of raw materials• Change in the tax environment• CCEJ's ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management;• CCEJ's ability to market and distribute effectively• Uncertain factors other than those above
The information in this presentation is provided for informational purposes and should not be construed as a solicitation of an investment in our
securities.
CCEJ undertakes no duty to update any statement in light of new information or future events. You should rely on your own independent
examination of us before investing in any securities issued by our company.

コカ･コーライーストジャパン株式会社

2Coca-Cola East Japan
Q4 & Full-Year 2016
Earnings Presentation
コカ･コーライーストジャパン株式会社

CCEJ Q4/Full-Year 2016

Q4 & Full-Year 2016 Earnings Presentation
Introduction•Overview and Key Messages
Q4 and Full-Year Results•Volume, Share and Financial Results2017 CCEJ Outlook•Initiatives and Plans
Creation of CCBJI - Integration with CCW•Integration Preparation Progress and Outlook

コカ･コーライーストジャパン株式会社

4

CCEJ Q4/Full-Year 2016

A Strong Year, Building on 3-Year Integration Experience Strong results – beat September 9 upward revision of operating income forecast.
Delivered three-year plan in one year.
 Reported operating income grew 70% vs. prior year; Net income up 2X prior year Gross margins and operating margins improved, reflecting quality volume growth,strong supply chain savings, disciplined focus on profit growth Revenue Growth Management (RGM) efforts and key new products successfully
resulted in positive gross profit from volume, price & mix
 Maintained value and volume market share for the full year Business integration planning with Coca-Cola West on track to launch “Coca-Cola
Bottlers Japan Inc.” (CCBJI), the world’s 3rd largest Coke bottler by revenue

コカ･コーライーストジャパン株式会社

5Q4 & Full-Year 2016
Sales Results
コカ･コーライーストジャパン株式会社

CCEJ Q4/Full-Year 2016

Full-Year Volume Growth in a Competitive Environment
Q1

Reported Volume Growth• Strong start to the year– maintained positive momentum
from Q4 2015 into Q1• Benefit from Sendai acquisition in prior year

Q4

Full-Year

Q2

+15%

• Volume growth led by product innovation• Growth in Drug & Discounter, Supermarket & Convenience
Store (CVS) channels• Category performance led by Water, Coffee, Tea

+9%
+4%

Q3

+5%*
+1%*

2015

+2%*

2016

2015

2016

• Continued growth of key new products• Vending exclusive products and Coke ON contributed tostabilized vending channel profitability

-2%

Q4

* Comparison of volume growth assuming Sendai was integrated in January 2015

コカ･コーライーストジャパン株式会社• Cycling 2015 Q4 good performance (CVS, Water, Coffee)• Focus on value growth, less pricing promotion

7

CCEJ Q4/Full-Year 2016

Product Mix Drives Improving per Case Trends
Selling Price per Case (YoY, Monthly)+OTC Retail Price• CCEJ average retail price continues above market
average for both large and small packages.
• Trend versus prior year moderating through the
year.

+

0-

vs. Market
Averagevs. Prior Year

Large PET

+11.9

-2.9

500ml PET

+0.9

-0.4

CCEJ OTC Retail Price(YTD, as of December 2016)-

Unit: JPY
Source: Intage Weekly (Supermarket and Drug & Discounter)YoY variance of per case selling price from CCEJ to customers
Package Mix

VM Exclusive

コカ･コーライーストジャパン株式会社

Value-Added

8

CCEJ Q4/Full-Year 2016

Maintained Market Share in the Full-Year
MarketShare
Value
Volumevs. Prior Year

Q4 2016-0.9-0.8

FY 2016+0.0+0.3

Value Share vs. Prior Year

Full-Year• Maintained value and volume share• Share gains in Drug & Discounter; Cola, Coffee & Water
Q4• Balancing value and volume performance• Cycling prior year strong new launches and current year competitive
activities

Volume Share vs. Prior Year

Source: Intage, OTC channel, NARTD beverages

コカ･コーライーストジャパン株式会社

9CCEJ Q4/Full-Year 2016

Performance by Channel
Solid full-year growth; Impact of cycling in fourth quarter
Q4 Volume by Channel(% of total)

Vending (VM)
29%

Others Supermarket
11%
(SM)
20%

Channel Volume Growth
Drug &
Discounter
(D&D)
11%

Convenience
Eating &Store (CVS)
Drinking (E&D)
15%
14%vs. PY

CVS

D&D

Nat’l
SM

Local
SM

VM

E&D

Q4 2016

-5%

+3%

+2%

-1%

-6%

Even

FY2016

+5%

+15%

+4%

+4%

-1%

+3%

*Comparison of volume growth assuming Sendai was integrated in Jan. 2015

Volume YoY: Q4 -1.7%; FY +3.9% (+2.1%*)
Q4 Performance Drivers• Growing share in Drug & Discounter; Growth led by Sparkling & NST• Supermarkets– growth in smaller packages; Cycling NST & Water• I LOHAS Water and Sparkling growth in Vending. Smartphone-enabledmachines and exclusive products contributed to stabilize profitability• CVS impacted by cycling of prior year strong new launches

コカ･コーライーストジャパン株式会社

vs. PY

CVS

D&D

Nat’l
SM

Local
SM

VM

E&D

FY2016

+3%

+12%

+2%

+3%

-3%

+1%

* NST (Non-Sugar Tea)

10

CCEJ Q4/Full-Year 2016

Performance by Category
Balanced full-year volume growth across portfolio
Q4 Volume by Category

Category Volume Growth(% of total)
Juice 5%
Sports 6%

Water
10%

Others13%

Sparkling(SSD) 26%

Coffee
18%

Teas
22%

Volume YoY: Q4 -1.7%; FY +3.9% (+2.1%*)
Q4 Performance Drivers

vs. PY

NST

Water

Coffee

SSD

SportsJuice

Q4 2016

-1%

-10%

-5%

+2%

+2%

-5%

FY2016

4%

11%

6%

3%

-5%

+2%

* Comparison of volume growth assuming Sendai was integrated in Jan. 2015

vs. PY

NST

Water

Coffee

SSD

SportsJuice

FY2016

+3%

+9%

+3%

+2%

-6%

even

* NST (Non-Sugar Tea)

• Sparkling soft drink growth led by Ribbon Bottle Coke, Fanta, Canada Dry• Decline of Water and Coffee due to cycling of prior year strong new launches• NST impacted by competitor launches, partially offset by renewed Sokenbicha• Sports recovery in Supermarket, Drug & Discounter and Convenience Stores

コカ･コーライーストジャパン株式会社

11Full-Year 2016
Financial Results
コカ･コーライーストジャパン株式会社

CCEJ Q4/Full-Year 2016

Drivers of Full-Year Operating Income Growth
Supply Chain
Savings

DME

Other
OPEX

Other
Subsidiaries

Depreciation

-166

-792

+2,518-4,819Full-Year 2015
Comparable
Operating
Income11,902Gross Profit
Impact ofVolume,Price/Mix+1,120• Organic volume
growth +2.1%• New products,
better pricing/mix
environment

Unit: Million JPY
DME: Direct Marketing Expenses+10,406• Deliveringstrongmanufacturing,logistics &distribution
andprocurement
synergies• Higher volume• 2016 global
campaign, CocaCola Summer
campaign andinvestments todrive 2017
growthinitiatives• Investing in
more profitablevending
placements• Labor, pensions,etc. decreased,
partially offset
by increased
delivery,outsourcing
expenses, etc.
associated withvolume growth• Adjusting for
impact of Q1
2015 Sendai OI• FVEJ• CAPEX timing
and plan review• Full-year capex
was 34.5B• Includes benefitof change ofuseful lives for
Production
equipment(1.8B)

Full-Year 2016
Comparable
Operating
Income20,169First year of positive Commercial Gross Profit; Supply Chainsavings ahead of plan; Marketing investments for new
campaigns, quality vending locations

コカ･コーライーストジャパン株式会社

13

CCEJ Q4/Full-Year 2016

Full-Year 2016 Financial Results Summary
Significant Operating Income Growth vs. Prior Year

• Revenue impacted by lower sales to other bottlers • Improved gross margin & operating margin from significant
supply chain savings • SG&A led by decrease in labor and logistic/distribution, partially offset by marketing investment
Full-Year 2016
One-time
items

Full-Year 2016

Full-Year 2015

Comparable

Comparable

317,991-

317,991

Net Revenue

572,496-

COGS

299,604

Gross Profit

Full-Year 2016
Reported

Vs. PYDiff%

305,945+12,046+3.9

572,496

563,162+9,334+1.7-116

299,488

302,087-2,599-0.9

272,892+116

273,008

261,075

11,933+4.6

SG&A

254,402-1,563

252,839

249,173+3,666+1.5

Operating Income

18,489+1,67920,168

11,902

8,266

+69.5

3.2%

-

3.5%

2.1%

+1.4pts-in million yen

Sales Volume(BAPC) (,000 cases)

OI Margin
Profit Before Tax

17,472Net Income

10,718• Capital Expenditure: 34,591 M JPY / Reported Depreciation and Amortization: 22,287 M JPY• One-time items mainly integration related expenses

Note: Previous year volume shown above may be slightly different from what we shared in the previous year, as part data standardization related to the implementation of
the new ERP system, CokeOne+.

コカ･コーライーストジャパン株式会社

14

2017
CCEJ Outlook and Plans
コカ･コーライーストジャパン株式会社

CCEJ Q4/Full-Year 2016

Full-Year CCEJ 2017 Plan Overview
Reported Operating Income

20 Billion Yen+8.2%

Revenue Growth+1.4%

Operating Income Margin

3.4%

NARTD Market
Environment• Increasing focus on value growth, slower industry volume growth in 2017
• Ongoing channel mix shift and pressure on retail pricing• Headwind for input costs; weaker yen, fuel and commodity prices

CCEJ Initiatives• Lead industry through innovation• Focus on profitable growth, optimize cost-to-serve and continue
to invest in capability development• Continue to focus on supply chain efficiency – incremental synergy
capture gradually progressing to logistics/distribution

コカ･コーライーストジャパン株式会社

16

We Have Built a World-Class Supply Chain for Japan
Planned & Progressive Changes Over 4 Years
2013

2014

2015

2016

NET SYNERGIESNET SYNERGIES

One+ Roadmap
for Growth

5.4B JPY

1.
Manufacturing
Master Plan

• 10 New Production Lines• Insourcing Production Volume• Significant Cost Reduction
2.
Operational
Excellence

2017

2.2B JPY 10.4B JPY• One Integrated System – New CokeOne+ ERP• Data Driven Management Reporting• Continuous Improvement “KAIZEN” Culture
3.
Logistics
Optimization
Project• Logistic/Distribution Efficiency
Improvement• Inventory Reduction/Optimization• Investment in Network
Optimization

Operational Excellence: -> Please refer to glossary page at the end of this presentation.
コカ･コーライーストジャパン株式会社

17

Commercial: Building on 2016 Foundation

CCEJ Q4/Full-Year 2016

Focus on Productivity and Capabilities Building
Focus on Profitable Growth Superior Marketing• Revenue Growth Management• Shopper centric activities

 Category• Focus on high-value products, smaller
package sizes and growing categories• Explore white space Channel• OBPPC segmentation• Enhancing value of Vending• Strengthen store execution

Optimize Cost-to-Serve Higher productivity culture Ongoing initiatives :RTM, Equipment, Vending

World Class Capabilities
 People development programs
 Best practice sharing within
Coca-Cola system Centers of Excellence :Chiba/Tokyo/; High density Horeca
A

RGM: Revenue Growth Management OBPPC: Occasion, Brand, Package, Price, Channel RTM: Route-To-Market
コカ･コーライーストジャパン株式会社-> Please refer to glossary page at the end of this presentation.

18

コカ･コーライーストジャパン株式会社

19

New Products and Marketing Activities in Q1
Products

1/23 Coca-Cola Ginger• Lead industry
throughinnovation• Focusing on
higher value,
premium andimmediate
consumption
packaging

2/6 Georgia Emerald Mountain Renewal

1/30
Karadameguricha Advance (Functional)

Promotions

2/13

2/27

Coca-Cola Slim Bottle Cherry Blossom Design

I Lohas Sparkling Grape/Lemon

3/6

Coca-Cola TM New Package(Coke TM, Zero, Zero Caffein)

VM/Coke ON

Setsubun
Eho-maki

Rhythm of Nation

3/27 Coca-Cola Plus (Foshu)

2/13 Canada Dry Renewal

VM Merchandising
for Spring
Coke in Home / Taste The Feeling

Valentine’s Day Promotion
Girls Festival Cross Brands Promotion

コカ･コーライーストジャパン株式会社

20

CCEJ Q4/Full-Year 20162017 Forecast (CCEJ Consolidated - Reported)
Unit: Million JPY

2016 Results2017 Forecast
Sales Volume*

Vs. PYDiff%

323,278

317,991

5,287

+1.7

Net Revenue

580,400

572,496

7,904

+1.4

Gross Profit

279,200

272,892

6,308

+2.3

Operating Income

20,00018,489

1,511

+8.2

3.4%

3.2%

+0.2pts-(BAPC) (,000 cases)

OI Margin

2017: Major Drivers for Operating Income• Gross profit impact of volume/price/mix: +3.2 B• Supply chain savings: +1.3 B• DME: -0.3B JPY• Other OPEX: -1 B
• Depreciation: -1.7B(+: Positive impact to OI / -: Negative impact to OI)*Previous year volume shown above may be slightly different from what we shared in the previous year, as part data standardization related to the implementation of the
new ERP system, CokeOne+.

コカ･コーライーストジャパン株式会社

21

CCEJ Q4/Full-Year 20162017 CCEJ Modeling Reminders
 2017 forecast and plan are based on current consolidation scope of CCEJ CAPEX and Depreciation2017 Capex plan includes incremental investment (CokeOne+ ERP phase 2 deployment,
logistics/distribution optimization, upgrade/conversion of production lines) as well as regular investment
for cold drink equipment, fleet, etc.

Capex

Unit: Billion JPY

Unit: Billion JPY

2016 Actual2017 Plan

Capitalized in COGS

18.9

8

Capitalized in SG&A

15.6

TOTAL

34.5

コカ･コーライーストジャパン株式会社

Depreciation
2016 Actual2017 Plan

In COGS

6.2

6

25

In SG&A

16.1

18

33

TOTAL

22.3

24

22

Creation of CCBJI Integration with CCW
コカ･コーライーストジャパン株式会社

CCEJ Q4/Full-Year 2016

CCBJI: Kicking off a New Era in the Beverage Industry
Building on strong momentum, integration work progressing andon schedule for smooth Day-One start• JFTC approval received November 2016
• U.S. SEC Form F-4 expected by end of February• Annual shareholders’ meetings to approve the integration• CCEJ: March 23 / CCW: March 22• BOD nominees for new CCBJI announced on February 6 by CCW• CCBJI Day One: April 1, 2017
• CCBJI business plan
• Integration planning team is developing CCBJI’s business plan

コカ･コーライーストジャパン株式会社

24

CCEJ Q4/Full-Year 2016

The Japan Coca-Cola System Continues to Evolve
Together with the customer, consumer, competitive landscape
1956-99

2001

2006

17

14

12

bottlers

bottlers

bottlers

Tokyo

Tokyo

Tokyo

Tone

Tone

Tone

Mikuni

Mikuni

MikuniCentral Japan(CCCJ)

CCCJ

SendaiSendai

Fuji

2001

Chukyo

2013

8

6

5

bottlers

bottlers

bottlers

2013

CCEJ

2015

CCEJ

1999

West Japan(CCWJ)

Sanyo

MikasaMikasa

Kinki

2002
2006

CCW

Kinki

Minamikyushu

Minamikyushu

Minamikyushu

Shikoku

Shikoku

Shikoku

Hokkaido

Hokkaido
Hokuriku

1984

CCW

2015

CCW

Shikoku
Hokkaido

Hokkaido

Hokkaido

Hokuriku

Hokuriku

Hokuriku

Hokkaido

Hokuriku

Michinoku

Michinoku

Michinoku

Okinawa

Okinawa

Okinawa

Hokuriku

Michinoku

NaganoMichinoku

Okinawa

Michinoku

Okinawa

Okinawa

2013

2017

CCBJI

SendaiSendai
Kitakyushu

2017

2015

コカ･コーライーストジャパン株式会社

25

CCEJ Q4/Full-Year 2016

CCEJ One+ Roadmap for Growth
2018- Tokyo Olympic
Games & Beyond
2016-20172015-20162012-20142012-2013
Forming& Storming
Forming
Define & deploy new

business model
Speed ofintegration:
250+ projects

Identifying
synergies &positioning for
growthコカ･コーライーストジャパン株式会社

Norming
Refine &optimize new
business model

Accelerating

Performing
Approaching
global bottler
performancelevelsProcess re-engineering
Exploiting new& launch of ERP systemarchitecture as
while delivering firstcompetitive
results
advantage to drivesynergies & growth

Meet & exceed
world-classbottler levels

A world-class
Japanese bottler on
the world stage

26

Delivering Tangible Results from Transformation

CCEJ Q4/Full-Year 2016

Successful bottler integration model built on
speed, scale, capabilities and synergy capture• A Solid Foundation for Growth •~2015 Built Solid Foundation-

10 new production lines
30+ legal entities consolidation
New ERP system
Standarized Route-to-Market (RTM)
Sendai acquisition
Investment for talent and capability

コカ･コーライーストジャパン株式会社

2016 Encouraging Results- Delivered significant operating income& net income growth- Improved margins; Balanced value &volume share- Strong supply chain synergies- Stabilizing profitability

StrongMomentumfor 2017
onward27

Appendix
コカ･コーライーストジャパン株式会社

Drivers of Q4 2016 Operating Income
Q4 2015Comparable
Operating
IncomeSupply Chain
Synergies

Gross Profit
Impact ofvolume,price/mix

DME-2,217

-743

3,183

Unit: Million JPY• Negative volume
growth due tocycling (-1.7%)

Q4 2016
Comparable
Operating
Income

Other
OPEX

Other
Subsidiaries+1,920• Delivering
manufacturing,synergies, etc.

• Cycling Q4 2015
• 2016 global
campaign andinvestments todrive 2017 growth
initiatives• Investing in more
profitable vending
placements

CCEJ Q4/Full-Year 2016

Depreciation• CAPEX timing
and plan review• Full-year capex
was 34.5B• Includes benefitof change ofuseful lives for
Production
equipment• Labor related
expenses, etc.
increasedreflecting good
2016 results-1,562
+142

+650

1,373

DME: Direct Marketing Expenses

コカ･コーライーストジャパン株式会社

29

CCEJ Q4/Full-Year 2016

Q4 2016 Financial Results Summary• In-line with plan • Revenue reflects decrease of sales to other Coca-Cola bottlers • Improved gross margin driven by continued supply
chain efficiency improvement • SG&A increase led by marketing investment, performance-related compensation and cycling of PY savings

Q4 2016

Q4 2016

Q4 2016

Q4 2015

Vs. PY

Reported

One-time
items

Comparable

Comparable

Diff

%

in million yen

Sales Volume

74,040-74,04075,358-1,318-1.7

Net Revenue

133,851-

133,851

137,632-3,781-2.7

COGS

69,796-

69,79674,089-4,293-5.8

Gross Profit

64,054-64,05463,543

+511

+0.8

SG&A

63,310-630

62,68060,360+2,320+3.8

Operating Income

743

+630

1,373

3,183

-1,810-56.9

Profit Before Tax

346

Net Income-420(BAPC) (,000 cases)• Capital Expenditure: 6,976 M JPY / Reported Depreciation and Amortization: 5,760 M JPY• One-time items mainly integration related expenses

Note: Previous year volume shown above may be slightly different from what we shared in the previous year, as part data standardization related tothe implementation of the new ERP system, CokeOne+.

コカ･コーライーストジャパン株式会社

30

CCEJ Q4/Full-Year 2016

The Coca-Cola System
A powerful partnership driving growth of the Coca-Cola business
The Coca-Cola system in Japan consists of the Coca-Cola (Japan) Company (CCJC), bottlers and other related companies.
CCJC, as the franchise owner, is responsible for supplying concentrate and beverage bases (coffee beans, tea leaves, juices, etc.) for all of Coca-Cola’s
brands, as well as R&D, innovation, and marketing and brand development.
The bottlers, including CCEJ, as franchisees, are responsible for manufacturing, distribution and selling the finished products. We all are working
together with our system partners to grow the Coca-Cola business by optimizing our overall operations through more efficient production anddistribution, marketplace execution that is firmly focused on the consumer, faster response to market preferences, enhanced customer service, andrigorous quality control.
Other Coca-Cola System Related Companies in Japan
Coca-Cola Tokyo Research &Development Co., Ltd. (CCTR&D)
Coca-Cola IBS Co., Ltd. (CCIBS)
Coca-Cola Business Sourcing Co.,
Ltd. (CCBSC)
Coca-Cola Customer Marketing
Company (CCCMC)FV Corporation Co., Ltd. (FVC)

コカ･コーライーストジャパン株式会社

Product development and technical support to respond to the needs of the customer
in Japan. A wholly owned subsidiary of The Coca-Cola Company.
Providing business consulting services, as well as developing and maintaining theinformation systems to support Coca-Cola System companies in Japan. Jointly owned
by The Coca-Cola Company and all the bottlers in Japan.
Providing joint procurement of raw materials, packaging, equipment, indirectmaterial, etc., for Coca-Cola System companies in Japan. Jointly owned by The CocaCola Company and all the bottlers in Japan.
Business negotiations window for nationwide retail, convenience stores, supermarket
and food-service chains as well as developing proposals for sales promotions andstorefront activities. Jointly owned by CCJC and all the bottlers in Japan.
Sales negotiations window for national chain vending operators, and deals non-CocaCola products as well as Coca-Cola branded products. Jointly owned by CCJC and all
the bottlers in Japan.

31

CCEJ Q4/Full-Year 2016

Glossary of Frequently Used Terms
CDE

Abbreviation of Cold Drink Equipment. Vending machines, coolers and beverage dispensers, etc.

DME

Abbreviation of Direct Marketing Expenses. Sales promotion-related expenses reported in advertisement & sales promotion expenses andpartly in sales commissions of SG&A.

FC

Abbreviation of Future Consumption. Purchase or sell beverage for future consumption in home, etc. It also means the products / SKUs for
FC (for example, single packages 1L or more and multi-pack of IC packages) and channels that consumers purchase the beverages for FC.
(for example, supermarket, drug & discounter channels, etc.).

HORECA

Abbreviation of Hotel, Restaurants and Cafeteria. Generally means sales channels of these kinds.

IC

Abbreviation of Immediate Consumption. Purchase or sell beverage for consuming it immediately. It also means the products / SKUs for IC(for example, single packages less than 1L as well as fountain) and channels that consumers purchase the beverages for IC (for example,
vending machines, convenience store channel, etc.).

OBPPC

Abbreviation of Occasion, Brand, Package, Price, Channel. A segmentation strategy tailored to consumption opportunities to drive
revenue growth in five areas: occasion, brand, package, price and channel.

Operational
Excellence(OE)

The Coca-Cola System’s way to develop people and culture around productivity which allows higher financial value achievement by driving
sustainable improvement using common language and tools as well as focusing on business priorities.

PicOS

Abbreviation of Picture of Success, which outlines standards and examples for making ideal market place execution and market place
activities including product deployment, CDE and advertisement placement, vending machine faces and column management, etc.

PTC

Abbreviation of Price, Terms and Conditions, an internal guideline for setting appropriate transaction conditions with customers,
frequently used in conjunction with RGM.

RGM

Abbreviation of Revenue Growth Management, an overall strategy and process to grow revenue and profit

RTM

Abbreviation of Route-to-Market. A framework, a process, a philosophy, a proven approach for driving profitable growth.

コカ･コーライーストジャパン株式会社

32

THANK YOU
Coca-Cola East Japan
Q4/Full-Year 2016 Earnings Presentation
February 10, 2017
<Inquiries>
Investor Relations
Coca-Cola East Japan

ir@ccej.co.jp+81-3-5575-3797
http://investor.ccej.co.jp/

コカ･コーライーストジャパン株式会社