Food: Increased Income - Sales Growth of Core Products, Cost Reduction and Decrease in Raw Material Costs

Meiji Holdings Co., Ltd. Financial Results - For the FYE March 2017 -

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	Financial Results - For the FYE March 2017 -

	Contents

	1. Overview for the FYE March 2017 Food: Increased Income - Sales Growth of Core Products, Cost Reduction and Decrease in Raw Material Costs Pharma: Decreased Income - NHI Price Revisions and Increased Expenses, Despite Promotion of Newly Launched Products Summary - FYE March 2017 Changes in Profitability after Management Integration

	2. Outlook for the FYE March 2018

	3. The Meiji Group 2026 Vision (outline)

	Appendix

	Back cover

Food: Increased Income - Sales Growth of Core Products, Cost Reduction and Decrease in Raw Material Costs

Changes in operating Income for FYE March 2017
Food segment: Operating income JPY 82.9 billion

• YoY increase of JPY 14.6 billion
Continued sales growth of core products such as probiotics and chocolate
Raw materials costs decreased
Retirement benefit costs, amortization costs increased

• Increased by JPY 2.9 billion compared to revised plan released in February 2017
Strong chocolate demand propelled income, although it might seem difficult to exceed last year's Q4 sales