Food: Increase Income - Grow Sales of Core Products and Reduce Cost

	TOP

	Financial Results - For the FYE March 2017 -

	Contents

	1. Overview for the FYE March 2017

	2. Outlook for the FYE March 2018 Food: Increase Income - Grow Sales of Core Products and Reduce Cost Food: Expand Domestic Share of Core Products - Accelerate Selection and Concentration Food: Continue Structural Reforms Food: Overseas Business - Stabilize Profitability and Challenge for Further Growth Pharma: Increase Income - Focus Resources on Core Domains, Steady Sales Growth and Further Low-Cost Operations Pharma: Steady sales growth in Japan and overseas Pharma: Further Expand Generic Drug Business - Add New Business Model Plan - FYE March 2018 Use of Cash Flows Summary - Progress in STEP UP 17 Strategy

	3. The Meiji Group 2026 Vision (outline)

	Appendix

	Back cover

Food segment
Operating income of JPY 84.0 billion, increase of JPY 1.0 billion YoY

• Grow sales of core products and reduce cost

• Raw material costs will increase in FYE March 2018

Increase in domestic raw milk prices

Lack of transparency in foreign currency and raw material market trends

Foreign currency assumption 108 JPY/$