Food: Grow in Sales of Domestic Core Products and International Business, and Reduce Cost

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	Financial Results - For the First Half of FYE March 2018 -

	Contents

	1. Overview for the First Half

	2. Outlook for the Second Half and Full-year Summary - FYE March 2018 Use of Cash Flows Food: Grow in Sales of Domestic Core Products and International Business, and Reduce Cost Food: Steadily Grow Sales of Probiotics and Yogurt Food: Continue Sales Growth of Chocolate - Health and Premium Food: Bean to Bar - Meiji's strength Food: Change the Packaging for Drinking Milk Food: Business in China - Realize Solid Growth with Profit Increase Food: Establish Integrated R&D System and Create Unique Values Pharma: Steady Sales Growth and Further Low-Cost Operation Pharma: Steady Sales Growth Focusing Mainstay Brand-name Drugs and Generic Drugs in Japan (1) Pharma: Steady Sales Growth Focusing Mainstay Brand-name Drugs and Generic Drugs in Japan (2) Pharma: Started Selling Generic Drugs Manufactured in Medreich on Schedule in Japan Pharma: Establish Quality Control System Comply with Japanese GMP

	Appendix

	Back cover

Food segment

• Plan for the full-year operating income

◾ JPY 86.1 billion, increase by JPY 3.1 billion year-on-year

◾ Increase in operating income from growth of core products will be JPY 1.5 billion in the second half.

Can Meiji continue to grow?

Of course, from our medium- to long-term perspective