Pharma: Steady Sales Growth and Further Low-Cost Operation

	TOP

	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

Pharmaceutical segment
Full-year operating income of JPY 11 billion - initial plans unchanged
Made a downward revision for the second half

• Grow sales of mainstay products Reflex, Sycrest, and Bilanoa.

• Royalty incomes shifted to the first half of the fiscal year - expected in the second half

Note:

Major NHI pricing reforms are under discussion - may be announced in December

Impact of reforms on pharmaceutical business is unclear at this time.