Interim report
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meiji Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31 , 2027 [ Based on Japanese GAAP ] Name of Listed Company : Meiji Holdings Co. , Ltd. Code Number : Representative : Inquiries : August 5 , 2026 Listed exchange : Prime Market , Tokyo Stock Exchange 2269 URL : www.meiji.com Katsunari Matsuda , CEO , President and Representative Director Masashi Tanaka , General Manager of IR Dept. Telephone : + 81-3-3273-3524 Dividend payment commencement : - Preparation of explanatory materials for quarterly financial results : Yes Holding of a briefing on quarterly financial results : Yes ( a briefing for analysts and institutional investors ) ( Amounts are rounded down to the nearest million yen . ) 1. Consolidated Financial Results for the First Three Months of the Fiscal Year Ending March 2027 ( April 1 , 2026 to June 30 , 2026 ) 1 ) Consolidated operating results ( % of change from the previous fiscal year ) Net Sales Operating Profit Ordinary Profit First three months ended Millions of yen % Millions of yen % Millions of yen % June 30 , 2026 June 30 , 2025 289,401 273,569 5.8 -1.8 22,673 17,749 27.7 24,790 37.8 -13.4 17,984 -13.3 ( Note ) Comprehensive income : First three months ended June 30 , 2026 : JPY 14,894 million ( 87.3 % ) First three months ended June 30 , 2025 : JPY 7,951 million ( -61.9 % ) Diluted Profit per Share Profit per Share First three months ended Yen June 30 , 2026 56.33 June 30 , 2025 37.27 2 ) Consolidated financial position As of June 30 , 2026 As of March 31 , 2026 Yen Profit attributable to owners of parent Millions of yen % 15,271 51.3 10,095 -27.6 Total Assets Net Assets Equity Ratio Net Assets per Share Millions of yen 1,285,794 Millions of yen 817,530 % Yen 60.1 2,848.90 1,261,759 817,552 61.2 2,849.80 ( Reference ) Shareholders ' equity : As of June 30 , 2026 : JPY 772,330 million As of March 31 , 2026 : JPY 772,586 million 2. Dividends Cash Dividends Per Share 1Q 2Q 3Q Financial year end Annual For the fiscal year ended Yen Yen Yen Yen Yen March 31 , 2026 52.50 52.50 105.00 March 31 , 2027 March 31 , 2027 55.00 55.00 110.00 ( Projected ) ( Note ) Amendment to projected dividends recently announced : None Disclaimer : These financial statements have been prepared in accordance with generally accepted accounting principles in Japan . This English translation is prepared for the reader's convenience . When there are any discrepancies between the original Japanese version and English translation version , the original Japanese version always prevails .
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2 3. Forecasts of Consolidated Financial Results for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027) ( % of change from the previous fiscal year) Net Sales Operating Profit Ordinary Profit Profit attributable to owners of parent Profit per Share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen 1st half 594,500 3.4 45,000 9.9 46,000 10.5 27,500 28.0 101.46 Full year 1,212,000 3.3 100,000 7.2 101,000 4.6 62,500 78.2 230.61 (Note) Amendment to forecasts of consolidated financial results recently announced: None Notes 1) Changes in significant subsidiaries during the current fiscal year under review (Changes in subsidiaries affecting the scope of consolidation): None 2) Application of specific accounting treatments in the preparation of quarterly consolidated financial statements: Yes For details, refer to page 14 of 2. Quarterly Consolidated Financial Statements 4) Notes Concerning Quarterly Financial Statements (Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements) 3) Changes in accounting policy, changes in accounting estimates, restatements 1. Changes in accounting policy due to revisions of accounting standards: None 2. Other changes in accounting policy: None 3. Changes in accounting estimates: None 4. Restatements: None 4) Number of shares outstanding (common stock) 1. Number of shares outstanding at end of period (including treasury stock) As of Jun. 30, 2026 282,200,000 shares As of Mar. 31, 2026 282,200,000 shares 2. Number of treasury stock at end of period As of Jun. 30, 2026 11,102,262 shares As of Mar. 31, 2026 11,098,044 shares 3. Average number of shares during period As of Jun. 30, 2026 271,099,002 shares As of Jun. 30, 2025 270,889,598 shares * Attached Review of Quarterly Consolidated Financial Statements by a Certified Public Accountant or Auditing Firm: None * Forward-looking statements and other special notes (Notice concerning forward-looking statements) The forward-looking statements described in this document, such as business forecasts, are based on information available at the time of the release of these materials and reasonable assumptions made by the Company, and do not represent a commitment from the Company that they will be achieved. For earnings forecasts assumptions and other related items, refer to page 8 of 1. Qualitative Information for the Current Quarterly Earnings 3) Forecasts for the Fiscal Year ending March 31, 2027 (Explanatory material for financial results) Explanatory materials for financial results are disclosed through TDnet together with these financial statements. This information also is posted on our website on the same day. (Presentation material for conference call) The conference call for analysts and institutional investors is scheduled on August 5, 2026. An audio recording (Japanese only) and presentation materials of the conference will be posted on our website.
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3 1. Qualitative Information for the Current Quarterly Earnings 1) Explanation Concerning Operating Results During the consolidated first three months of the fiscal year under review, our Group’s operating environment faced continued instability due to the trade policies of various nations, foreign currency fluctuations, and geopolitical risks such as the situation in the Middle East. In Japan, while the employment and income environmen t saw improvements, the trend towards saving continued due to heightened cost - consciousness driven by rising prices. Amid such an environment, our Group advanced our 2026 Medium- Term Business Plan (FYE March 2025-2027), which started in April 2024. In the Food segment, in Japan, we worked to strengthen our added- value proposition for existing products and expand sales of new products while also implement ing cost reduction and production optimization initiatives to absorb the increases in raw material costs. Overseas, we expanded the presence of Meiji - branded products in the U .S., while advancing comprehensive structural reforms in China aimed at improving profitability. In the Pharmaceutical segment, we worked to ensure a stable supply for injectable antibacterial drugs and vaccines. In addition, we focused on promoting blood plasma products, for which we have achieved centralized Group manufacturing and sales. We also worked to maximize the value of REZUROCK Tablets, a newly launched selective ROCK2 inhibitor. Furthermore, we promoted the uptake of an insomnia treatment, Vorzzz, which we market jointly with Taisho Pharmaceutical Co., Ltd. These factors resulted in net sales of JPY 289.401 billion (up 5.8%, year on year), operating profit of JPY 22.673 billion (up 27.7%, year on year), and ordinary profit of JPY 24.790 billion (up 37.8%, year on year) during the first three months of FYE March 202 6. Profit attributable to owners of parent was JPY 15.271 billion (up 51.3%, year on year). (Billions of yen) For the first three months ended June 30 2025 2026 Change Main factors for Change Net sales 273.5 289.4 15.8 Details indicated on segment-specific overview Operating profit 17.7 22.6 4.9 Details indicated on segment-specific overview Non-operating profit 1.5 2.9 1.3 - Share of gain of entities accounted for using equity method (+0.8) - Foreign exchange gains (+0.2) Non-operating expenses 1.3 0.8 -0.4 - Share of loss of entities accounted for using equity method (-0.7) - Interest expenses (+0.2) Ordinary profit 17.9 24.7 6.8 － Extraordinary income 1.9 1.3 -0.5 - Gain on sale of non-current assets (-1.2) - Subsidy income (+0.3) Extraordinary losses 0.7 2.1 1.3 - Impairment losses (+1.1) - Loss on tax purpose reduction entry of non- current assets (+0.3) Profit before income taxes 19.1 24.0 4.8 － Income taxes-total 8.3 7.7 -0.5 － Profit attributable to non- controlling interests 0.6 0.9 0.2 － Profit attributable to owners of parent 10.0 15.2 5.1 －
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4 The status of operations by segment and business are as follows. (1) Food segment Net sales increased year on year. Net sales of the chocolate business increased significantly year on year. Net sales of the nutrition business and the food solutions business increased year on year, and net sales of the dairy business were largely unchanged from the previous fiscal year. Operating profit increased significantly year on year. Operating profit of the nutrition business and the food solutions business increased significantly year on year , and operating profit of the dairy business increased year on year. Operating profit of the chocolate business decreased significantly year on year. (Billions of yen) For the first three months ended June 30 2025 2026 % Change Net sales 224.8 233.9 4.1% Operating profit 13.6 15.1 10.9% Below is an overview of each of food segment’s main businesses. (Billions of yen) Net sales Operating profit For the first three months ended June 30 2025 2026 % Change For the first three months ended June 30 2025 2026 % Change Dairy 66.9 67.5 0.8% Dairy 6.0 6.4 6.2% Chocolate 38.7 43.6 12.7% Chocolate 3.1 2.0 -34.2% Nutrition 29.1 30.9 6.3% Nutrition 3.1 3.7 20.9% Food solutions 48.7 49.9 2.6% Food solutions 1.7 2.0 15.4% Other 41.2 41.7 1.4% Other -0.4 0.8 ― 15.1 13.6 +1.7 -1.8 -5.3 +6.9 Q1 Results - FYE March 2027 Other (incl. change in results of subsidiaries) Changes in other SG&A expenses Changes in costs of goods sold Due to increased/decreased sales Q1 Results - FYE March 2026 Analysis of Consolidated Operating Profit (Billions of yen)
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5 ■ Dairy business (Functional yogurt, yogurt, drinking milk, overseas) Net sales were largely unchanged from the previous fiscal year. In Japan, performance was also flat year on year. Sales w ere driven by Meiji Hemoglobin A1c Yogurt , newly launched in October 2025, and mainstay products such as Meiji Probio Yogurt R -1 and Meiji Oishii Gyunyu. These growth was offset by lower sales of Meiji Probio Yogurt LG-21 and drinking milk for home delivery. Overseas, the launch of Meiji Oishii Gyunyu in July 2025 boosted sales of drinking milk and yogurt for the consumer market in China, leading to sales growth. Operating profit increased year on year. In Japan, profit increased as the positive impact of price increases more than offset rising raw material costs and logistics expenses. Overseas, profits w ere largely unchanged from the previous fiscal year. In China, the benefits of lower indirect manufacturing costs and administrative expenses were offset by the impact of foreign exchange. ■ Chocolate business (Chocolate, gummy, overseas) Net sales increased significantly year on year. In Japan, sales growth was driven by strong performance from Kinoko no Yama, Takenoko no Sato, and Chocolate Kouka, supported by enhanced promotional activities. Sales in the gummy category also increased, thanks to new product launches. Overseas, sales grew, led by the strong performance of Hello Panda at our subsidiaries in the U.S. and Singapore. Operating profit decreased significantly year on year. In Japan, profits decreased, impacted by higher raw material costs resulting from the use of cacao procured at high market prices and unfavorable foreign exchange effects. Overseas, our U.S. subsidiary recorded a decrease in profit, mainly due to an increase in indirect manufacturing costs. ■ Nutrition business (Infant formula, sports nutrition, rich in nutrition foods, overseas) Net sales increased year on year. In Japan, sales of infant formula decreased due to a persistent decline in inbound demand. On the other hand, sales of sports nutrition increased thanks to narrowing the price gap with competitors for the powder type of SAVAS products and strengthening the product lineup for the drinking type of SAVAS, contributing to an overall increase in sales. Overseas, although sales of infant formula at our subsidiary in Vietnam declined, strong exports of infant formula to Pakistan led to an overall increase in sales. Operating profit increased significantly year on year. In Japan, profit increased thanks to the positive impact of price increases and cost reductions from structural reforms. Overseas, profit decreased due to lower sales of infant formula at our subsidiary in Vietnam. ■ Food solutions business (B2B, cheese, frozen dessert, overseas) Net sales increased year on year. In Japan, sales increased, driven by an enhanced lineup for mainstay frozen dessert products, the Meiji Essel Super Cup series, and higher sales of cream for B2B. Overseas, sales grew in China, led by strong performance in cream for B2B. Operating profit in creased significantly year on year. In Japan, although the impact of price increases covered higher raw material costs, profit decreased due to a rise in promotional expenses and indirect manufacturing costs. Overseas, profit for our B2B and frozen dessert businesses in China increased, thanks to lower depreciation expenses resulting from an impairment loss recorded in the previous fiscal year. ■ Other business (dairy ingredients, domestic subsidiaries, overseas) Overall sales increased as sales growth at our feed subsidiary outweighed a sales decline at our sugar trading company. Operating profit turned in to a profit due to the absence of upfront investment expense s for overseas business expansion in the previous fiscal year.
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6 (2) Pharmaceutical segment All three businesses increased significantly in net sales. Operating profit increased significantly year on year. Operating profit of the domestic pharmaceuticals business and the overseas pharmaceuticals business increased significantly year on year , while the vaccines and veterinary drugs business narrowed its loss. (Billions of yen) For the first three months ended June 30 2025 2026 % Change Net sales 49.0 55.6 13.6% Operating profit 4.7 8.4 76.3% Below is an overview of each of pharmaceutical segment’s main businesses. (Billions of yen) Net sales Operating profit For the first three months ended June 30 2025 2026 % Change For the first three months ended June 30 2025 2026 % Change Domestic pharmaceuticals (Japan) 27.5 31.7 15.3% Domestic pharmaceuticals (Japan) 4.3 6.0 38.3% Overseas pharmaceuticals 15.2 17.0 11.7% Overseas pharmaceuticals 2.2 2.8 26.6% Vaccines and veterinary drugs 6.2 6.8 10.6% Vaccines and veterinary drugs -1.8 -0.4 ― 8.4 4.7 +1.7 -0.8 -0.5 +0.5 +2.8 Q1 Results - FYE March 2027 Other (incl. change in results of subsidiaries) Changes in other SG&A expenses Changes in costs of goods sold Impact of drug price revision Due to increased/decreased sales Q1 Results - FYE March 2026 Analysis of Consolidated Operating Profit (Billions of yen)
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7 ■ Domestic pharmaceuticals business (Infectious disease, immune system, central nervous system, generic drugs) Net sales increased significantly year on year. Sales of injectable antibacterial drugs increased thanks to a rebound from a sluggish market in the previous fiscal year and the benefit of NHI drug price upward revisions. The selective ROCK2 inhibitor, REZUROCK Tablets, also continued to perform strongly with steady growth in prescriptions. Operating profit increased significantly due to higher sales and the benefit of NHI drug price upward revisions. ■ Overseas pharmaceuticals business (Direct sales, CMO/CDMO, global products) Net sales increased significantly year on year. This growth was driven by higher sales at our subsidiary in India and favorable foreign exchange effects. Operating profit increased significantly year on year, driven by higher sales of our subsidiary in India and successful cost reduction efforts. ■ Vaccines and veterinary drugs business (Vaccines, veterinary drugs, newborn screening) Net sales in creased significantly year on year. This growth was driven by strong s ales of the Japanese encephalitis vaccine, ENCEVAC, and the 5-in-1 combination vaccine, Quintovac. Operating loss narrowed thanks to higher sales of ENCEVAC and Quintovac.
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8 2) Financial status (1) Assets, Liabilities, and Net Assets (Billions of yen) As of March 31, 2026 As of June 30, 2026 Change Main Factors for Change Current assets 585.3 596.8 11.4 - Merchandise and finished goods (+17.6) - Notes and accounts receivable-trade (-6.6) Non-current assets 676.3 688.9 12.5 - Buildings and structures, net (+19.3) - Construction in progress (-3.5) - Investment securities (-2.3) Total assets 1,261.7 1,285.7 24.0 － Current liabilities 313.2 337.1 23.8 - Short-term borrowings (+19.8) - Commercial papers (+16.0) - Accrued expenses (-12.3) Non-current liabilities 130.9 131.1 0.2 - Retirement benefit liability (+0.3) Total liabilities 444.2 468.2 24.0 － Shareholders’ equity 688.7 689.8 1.0 - Retained earnings (+1.0) Accumulated other comprehensive income 83.8 82.5 -1.2 - Valuation difference on available-for-sale securities (-2.1) - Remeasurements of defined benefit plans (-0.7) - Foreign currency translation adjustments (+1.5) Minority interests 44.9 45.2 0.2 － Total net assets 817.5 817.5 -0.0 － Total liabilities and net assets 1,261.7 1,285.7 24.0 － Interest bearing debt 112.5 138.2 25.6 - Short-term borrowings (+19.8) - Commercial papers (+16.0) Equity Ratio (%) 61.2% 60.1% -1.2pt － (2) Status of cash flows (Billions of yen) For the first three months ended June 30 2025 2026 Change Main factors for Change Net cash flow from operating activities -5.1 14.7 19.8 - Decrease in inventories (+15.5) - Profit before income taxes (+4.8) Net cash flow from investing activities -14.4 -3.7 10.6 - Subsidy received (+7.5) - Net decrease in time deposits (+5.6) - Proceeds from sale of property, plant and equipment and intangible assets (-1.4) Net cash flow from financing activities 27.4 10.5 -16.9 - Redemption of bonds (-10.0) - Decrease in commercial papers (-9.0) Cash and cash equivalents at end of period 74.3 71.9 -2.3 － Free cash flow -19.5 10.9 30.5 － 3) Forecasts for the Fiscal Year ending March 31, 2027 There are no changes to the consolidated earnings forecasts for FYE March 2027 indicated in the Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 published on May 14, 2026.
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9 2. Quarterly Consolidated Financial Statements 1) Quarterly Consolidated Balance Sheets (Millions of yen) As of March 31, 2026 As of June 30, 2026 ASSETS Current assets Cash and deposits 69,249 86,348 Notes and accounts receivable-trade 195,682 189,015 Merchandise and finished goods 144,727 162,422 Work in process 9,940 8,903 Raw materials and supplies 100,894 104,541 Others 65,230 45,733 Allowance for doubtful accounts -363 -141 Total current assets 585,361 596,823 Non-current assets Property, plants and equipment Buildings and structures 386,428 409,482 Accumulated depreciation -204,335 -208,074 Buildings and structures, net 182,092 201,407 Machinery, equipment and vehicles 609,934 615,165 Accumulated depreciation -462,316 -469,167 Machinery, equipment and vehicles, net 147,618 145,998 Tools, furniture and fixtures 60,432 59,542 Accumulated depreciation -49,725 -49,034 Tools, furniture and fixtures, net 10,706 10,507 Land 76,209 76,270 Lease assets 3,147 3,080 Accumulated depreciation -1,156 -1,081 Lease assets, net 1,991 1,998 Construction in progress 91,306 87,708 Total property, plants and equipment 509,924 523,893 Intangible assets 21,791 21,387 Investments and other assets Investment securities 75,335 72,945 Retirement benefit asset 45,593 45,806 Deferred tax assets 4,909 6,359 Other 19,011 18,741 Allowance for doubtful accounts -168 -161 Total investments and other assets 144,680 143,690 Total non-current assets 676,397 688,971 Total assets 1,261,759 1,285,794
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10 (Millions of yen) As of March 31, 2026 As of June 30, 2026 LIABILITIES Current liabilities Notes and accounts payable-trade 101,131 105,492 Short-term borrowings 21,317 41,177 Current portion of bonds payable 10,000 － Commercial papers 14,000 30,000 Accrued expenses 46,186 33,848 Income taxes payable 11,388 8,595 Contract liability 762 762 Refund liability 20,625 17,195 Provision for bonuses 11,632 5,992 Other 76,227 94,057 Total current liabilities 313,271 337,120 Non-current liabilities Long-term borrowings 67,267 67,088 Deferred tax liabilities 4,756 4,723 Retirement benefit liability 41,213 41,562 Provision for retirement benefits for directors (and other officers) 88 88 Other 17,609 17,680 Total non-current liabilities 130,935 131,143 Total liabilities 444,206 468,264 NET ASSETS Shareholders’ equity Share capital 30,000 30,000 Capital surplus 38,743 38,743 Retained earnings 653,343 654,381 Treasury shares -33,312 -33,316 Total shareholders’ equity 688,774 689,808 Accumulated other comprehensive income Valuation difference on available-for-sale securities 22,420 20,266 Deferred gains or losses on hedges 46 51 Foreign currency translation adjustments 39,469 41,069 Remeasurements of defined benefit plans 21,876 21,133 Total accumulated other comprehensive income 83,812 82,521 Non-controlling interests 44,965 45,200 Total net assets 817,552 817,530 Total liabilities and net assets 1,261,759 1,285,794
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11 2) Quarterly Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (Quarterly Consolidated Statements of Income) (For the First Three Months Ended June 30, 2026) (Millions of yen) First three months of FYE March 2026 (from Apr. 1, 2025 to Jun. 30, 2025) First three months of FYE March 2027 (from Apr. 1, 2026 to Jun. 30, 2026) Net sales 273,569 289,401 Cost of sales 193,576 200,534 Gross profit 79,992 88,866 Selling, general and administrative expenses 62,242 66,193 Operating profit 17,749 22,673 Non-operating income Interest income 193 320 Dividend income 494 615 Foreign exchange gains 523 746 Share of gain of entities accounted for using equity method － 894 Other 371 402 Total non-operating income 1,582 2,979 Non-operating expenses Interest expenses 109 346 Share of loss of entities accounted for using equity method 721 － Other 516 516 Total non-operating expenses 1,347 862 Ordinary profit 17,984 24,790 Extraordinary income Gain on sales of non-current assets 1,848 643 Subsidy income 76 476 Other － 248 Total extraordinary income 1,924 1,367 Extraordinary losses Loss on abandonment of non-current assets 571 553 Loss on tax purpose reduction entry of non- current assets 75 456 Impairment losses － 1,103 Other 127 13 Total extraordinary losses 773 2,126 Profit before income taxes 19,135 24,031 Income taxes 8,352 7,788 Profit 10,783 16,243 Profit attributable to non-controlling interests 687 972 Profit attributable to owners of parent 10,095 15,271
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12 (Quarterly Consolidated Statements of Comprehensive Income) (For the First Three Months Ended June 30, 2026) (Millions of yen) First three months of FYE March 2026 (from Apr. 1, 2025 to Jun. 30, 2025) First three months of FYE March 2027 (from Apr. 1, 2026 to Jun. 30, 2026) Profit 10,783 16,243 Other comprehensive income Valuation difference on available-for-sale securities 500 -2,154 Deferred gains or losses on hedges 14 5 Foreign currency translation adjustments -2,120 1,516 Remeasurements of defined benefit plans, net of tax -321 -769 Share of other comprehensive income of entities accounted for using equity method -905 52 Total other comprehensive income -2,831 -1,348 Comprehensive income 7,951 14,894 Profit attributable to Comprehensive income attributable to owners of parent 7,280 13,979 Comprehensive income attributable to non- controlling interests 671 915
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13 3) Quarterly Consolidated Statements of Cash Flow (Millions of yen) First three months of FYE March 2026 (from Apr. 1, 2025 to Jun. 30, 2025) First three months of FYE March 2027 (from Apr. 1, 2026 to Jun. 30, 2026) Cash flows from operating activities Profit before income taxes 19,135 24,031 Depreciation 13,472 12,619 Impairment losses － 1,103 Loss on retirement of property, plants and equipment 570 553 Increase (decrease) in allowance for doubtful accounts -279 -231 Increase (decrease) in provision for bonuses -5,633 -5,635 Increase (decrease) in retirement benefit liability -661 -956 Interest and dividend income -687 -936 Interest expenses 109 346 Share of loss (profit) of entities accounted for using equity method 721 -894 Loss (gain) on sales of property, plant and equipment -1,731 -639 Decrease (increase) in trade receivables 11,939 8,438 Decrease (increase) in inventories -35,520 -19,959 Increase (decrease) in contract liabilities 153 -12 Increase (decrease) in trade payables 6,140 4,643 Other, net -1,600 950 Subtotal 6,130 23,421 Interest and dividends received 1,899 2,322 Interest paid -64 -300 Income taxes paid -13,122 -10,727 Net cash provided by operating activities -5,157 14,715 Cash flows from investing activities Decrease (increase) in time deposits -236 5,420 Purchase of property, plant and equipment -14,157 -14,822 Purchases of intangible assets -1,145 -800 Proceeds from sales of property, plant and equipment and intangible assets 2,006 574 Subsidy received 22 7,527 Purchases of investment securities -239 -358 Proceeds from sales of investment securities － 264 Other, net -667 -1,569 Net cash used in investing activities -14,417 -3,766
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14 (Millions of yen) First three months of FYE March 2026 (from Apr. 1, 2025 to Jun. 30, 2025) First three months of FYE March 2027 (from Apr. 1, 2026 to Jun. 30, 2026) Cash flows from financing activities Net increase (decrease) in short-term borrowings 18,000 19,976 Increase (decrease) in commercial papers 25,000 16,000 Repayments of long-term borrowings -1,015 -301 － -10,000 Decrease (increase) in treasury shares -1 -3 Dividends paid -13,332 -14,043 Dividends paid to non-controlling interests -668 -689 Other, net -508 -380 Net cash provided used in financing activities 27,473 10,558 Effect of exchange rate change on cash and cash equivalents 13 851 Net increase (decrease) in cash and cash equivalents 7,911 22,359 Cash and cash equivalents at beginning of period 66,398 49,611 Cash and cash equivalents at end of period 74,309 71,971 4) Notes Concerning Quarterly Financial Statements (Notes Concerning the Premise of a Going Concern) Not applicable. (Notes Concerning Significant Changes in Shareholders’ Equity (if any)) Not applicable. (Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements) Tax expenses are calculated by rationally estimating the effective tax rate after application of tax effect accounting to profit before income taxes for the consolidated fiscal year, which includes the current quarter under review, then multiplying profit before income taxes by the estimated effective tax rate. Income taxes-deferred are shown included in income taxes.
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15 (Segment Information, etc.) 1. The First Three Months of the Previous Consolidated Fiscal Year (April 1, 2025 to June 30, 2025) (1) Information on amounts of sales and income/losses for each reporting segment (Millions of yen) Reporting Segments Total Adjustments (Note 1) Amount Presented in Consolidated Statements of Income (Note 2) Food Pharmaceuticals Net Sales (1) Sales to Outside Customers 224,553 49,015 273,569 － 273,569 (2) Inter-segment Sales and Transfers 248 6 254 -254 － Total 224,801 49,022 273,823 -254 273,569 Income by Segment 13,677 4,787 18,464 -715 17,749 (Notes) 1. Details of Adjustments are as follows: The segment income adjustment of a negative JPY 715 million includes inter-segment eliminations of JPY 6 million and a negative JPY 721 million in corporate expenses that are not allocated to individual reporting segments. Corporate expenses mainly consist of administrative expenses for the Company (the holding company). 2. Segment income is adjusted to the operating profit recorded in the quarterly consolidated statements of income. (2) Information on impairment loss on non-current assets or good will, etc., for each reporting segment (Significant impairment loss on non-current assets) There was no significant impairment loss on non-current assets. (Significant changes in the amount of goodwill) There were no significant changes in the amount of goodwill. (Significant gain on negative goodwill) No significant negative goodwill was generated.
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16 2. The First Three Months of the Current Consolidated Fiscal Year (April 1, 2026 to June 30, 2026) (1) Information on amounts of sales and income/losses for each reporting segment (Millions of yen) Reporting Segments Total Adjustments (Note 1) Amount Presented in Consolidated Statements of Income (Note 2) Food Pharmaceuticals Net Sales (1) Sales to Outside Customers 233,717 55,683 289,401 － 289,401 (2) Inter-segment Sales and Transfers 225 4 230 -230 － Total 233,943 55,688 289,631 -230 289,401 Income by Segment 15,170 8,438 23,608 -934 22,673 (Notes) 1. Details of Adjustments are as follows: The segment income adjustment of a negative JPY 934 million includes inter-segment eliminations of JPY 4 million and a negative JPY 939 million in corporate expenses that are not allocated to individual reporting segments. Corporate expenses mainly consist of administrative expenses for the Company (the holding company). 2. Segment income is adjusted to the operating profit recorded in the quarterly consolidated statements of income. (2) Information on impairment loss on non-current assets or good will, etc., for each reporting segment (Significant impairment loss on non-current assets) There was no significant impairment loss on non-current assets. (Significant changes in the amount of goodwill) There were no significant changes in the amount of goodwill. (Significant gain on negative goodwill) No significant negative goodwill was generated.
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17 (Significant subsequent events) At the Company’s Board of Directors meeting held on July 21, 2026, it resolved, as part of the restructuring of its business portfolio, to transfer its Dairy (drinking milk and yogurt) and B2B business in China (the "Target Business"), to Shanghai AustAsia Food Co., Ltd. ("Shanghai AustAsia Food"). The business transfer will be implemented through the transfer of shares of the relevant target companies (the "Share Transfer" or "Transaction"). The closing of the Transaction is subject to the satisfaction of the conditions precedent set forth in the Share Transfer Agreement. 1. Overview of the Transaction Under the Transaction, the Target Business of Meiji (China) Investment Co., Ltd., Meiji Dairies (Tianjin) Co., Ltd. and Meiji Dairies (Suzhou) Co., Ltd. will be transferred to Shanghai AustAsia Food. MEIJI FOOD (GUANGZHOU) CO., LTD. also has a manufacturing facility for the Target Business but is not included in the subject of the Transaction. MEIJI FOOD (GUANGZHOU) CO., LTD. will continue to operate as a subsidiary of Meiji (China) Investment Co., Ltd., and operate as a production base for the Chocolate business. The production of the Target Business at the base will be terminated prior to the closing of the Transaction. 2. Outline of the Target Companies 1) Name Meiji (China) Investment Co., Ltd. 2) Address Room1101, T3, Raffles City Shanghai Changning, No.1193 Changning Road, Shanghai, 20051, China 3) Business description Sales of products in each business category (dairy products, confectionery, ice cream, nutritional products), business management, fund management, and enhancement of governance of operating companies in China 4) Capital USD 701 million 5) Equity ratio Meiji Co., Ltd. 100.00% *Prior to the Transaction, Meiji (China) Investment Co., Ltd., will transfer its Target Business to a newly established subsidiary, which will become the target company ("Target Company") for the Transaction. 1) Name Meiji Dairies (Tianjin) Co., Ltd. 2) Address No.18, Daxing Road, the West Zone of TEDA, Tianjin 300462, China 3) Business description Production of dairy products such as drinking milk and yogurt 4) Capital RMB 705 million 5) Equity ratio Meiji (China) Investment Co., Ltd. 100.00% 1) Name Meiji Dairies (Suzhou) Co., Ltd. 2) Address No.189 Putuoshan Road Snd, Suzhou, Jiangsu, P.R. China 3) Business description Production of dairy products such as drinking milk, yogurt and cream 4) Capital USD 83 million 5) Equity ratio Meiji (China) Investment Co., Ltd. 100.00%
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18 3. Outline of Counterparty 1) Name Shanghai AustAsia Food Co., Ltd. 2) Address Room 1603C, No. 1158, Jiangning Road, Putuo District, Shanghai, PRC 3) Representative Legal representative, Haicheng Zhang 4) Business description The wholesale, retail, import and export, online retail of food, and the provision of relevant supporting services, and the management and consultation of enterprises 5) Capital Total Registered Capital: USD 24.10 million 6) Date of establishment December 23, 2013 7) Major shareholders and shareholding ratio AIH2 Pte.Ltd. (12.45%) Dongying Xianhe AustAsia Modern Dairy Farm Co., Ltd (14.59%) Chifeng AustAsia Modern Dairy Farm Co., Ltd (40.86%) Dongying Shenzhou AustAsia Modern Dairy Farm Co., Ltd (32.10%) 8) Relationship between Meiji Holdings Co., Ltd. and the said company Capital relationship The Meiji Group holds 15.85% of the shares of AustAsia Group Ltd., the parent company of the said company Personnel relationship Not applicable Business relationship The Meiji Group and AustAsia Group Ltd. have a business relationship related to raw material procurement, etc. Status of Relevant Parties Not applicable 4. Transfer Price and Changes in Equity Interest 1) Equity interest before the transfer 100% 2) Equity interest to be transferred 100% 3) Transfer price RMB 320 million 4) Equity interest after the transfer 0% *The final transfer price will be determined after reflecting the net assets of the Target Company at the time of closing of the Transaction and the price adjustment set forth in the Share Transfer Agreement. 5. Date of the Transaction 1) Date of resolution by the Board of Directors July 21, 2026 2) Date of execution of the Share Transfer Agreement July 21, 2026 3) Date of establishment of the Target Company August 21, 2026 (planned) 4) Date of closing of the Transaction December 31, 2026 (planned) *The above schedule is subject to change due to circumstances such as the approval of the relevant governmental authorities. 6. Outlook The impact of the Transaction on the Company's consolidated financial results is currently under review. #####
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Contents 1. Consolidated Financial Results ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 1 2. Segment Information ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 4 3. Analysis of Operating Profit ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 8 4. Consolidated Financial Positions ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 9 5. Capital Expenditures, Depreciation, R&D Expenses ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 10 6. Other 1) [Reference] Food Segment (Non-consolidated) Sales by Main Products ・ ・ ・ 11 2) [Reference] Pharmaceutical Segment Sales by Main Products ・ ・ ・ 12 3) Pipeline ・ ・ ・ ・ ・ ・ ・ ・ ・ ・ 13 *This document has been translated from the original Japanese as a guide for non-Japanese investors. *Unaudited figures are included in these materials for reference. *The forward-looking statements described in this document, such as business forecasts, are based on information available at the time of the release of this presentation and reasonable assumptions made by the Company, and do not represent a commitment from the Company that they will be achieved. August 5, 2026 Consolidated Financial Results for the First Quarter of Fiscal Year Ending March 31, 2027 - Supplementary Explanatory Data -
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1. Consolidated Financial Results (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 1) Consolidated Operating Results (Billions of yen) Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost +78.227.5 +28.0 35.0 +157.4 62.5Profit attributable to owners of parent 15.2 +51.3 55.5 +7.2 Ordinary profit 24.7 +37.8 53.9 46.0 +10.5 55.0 +0.1 101.0 +4.6 45.0 +9.9 55.0 +5.0 100.0Operating profit 22.6 +27.7 50.4 ― ― ― ― ― ―22.3 +4.2 ― ― ― ― ― ― ―9.4 +14.8 ― ― ― ― ― ― ―5.5 +6.2 ― ― 66.1 +6.3 ― ― ― ― ― ― ― ― ― ― ― ―Gross profit 88.8 +11.1 ― ― ― ― ― ― ―200.5 +3.6 ― ％ Net sales 289.4 +5.8 48.7 594.5 +3.4 617.5 +3.1 1,212.0 +3.3 ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change -31.0 ％ ％ 1,173.6 +1.7 -0.3 814.6 -0.0 ― 400.0 +0.6 414.6 -0.7 814.6 -0.0 359.0 +5.9 ― 265.7 +4.5 ― 21.2 -11.0 21.4 -20.1 13.5 -43.2 35.035.0 -31.0 -3.9 +10.2 Ordinary profit 17.9 -13.3 48.0 41.6 -4.0 +11.0 72.4 +11.3 82.7 41.6 -4.0 54.9 +42.1 96.5 +17.7 93.3 +10.2 +2.5 96.5 77.0 40.9 -7.8 ― 71.9 8.2 -14.8 ― 18.0 +17.7 Operating profit 17.7 -13.4 44.9 40.9 -7.8 +3.7 70.0 +5.4 Profit attributable to owners of parent 10.0 -27.6 44.9 21.4 -20.1 -4.5 38.8 5.2 +5.1 ― 10.7 +7.1 ― 17.3 +13.8 ― -3.1 ― 27.9 -2.4 ― 21.4 +3.3 ― 42.7 +3.8 ― +3.8 +5.9 62.2 +1.2 ― 133.9 +5.4 ― 199.3 +4.2 ― 133.9 +5.4 131.8 +3.5 265.7 +4.5 359.0+2.0 184.1 +9.8174.8 63.9 +2.9 612.8 -0.7 ― ― 38.9 +2.1 ― 38.9 ― 42.7 +3.8 42.0 +8.0 84.7 52.3 +29.9 93.3 Gross profit 79.9 -2.4 ― 174.8 +2.0 ― 269.4 +4.5 ％ ％ ％ ％ 193.5 -1.6 ― 400.0 +0.6 ― Net sales 273.5 -1.8 46.4 574.8 +1.0 -2.4 75.0 574.8 +1.0 598.8 +2.3 1,173.6 +1.7 21.2 ― 10.7 +7.1 10.4 +12.4 18.0 -3.1 20.8 +7.0 +9.7 FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change ％ 882.3 +0.8 +9.7 +2.1 +5.8 ％ ％ ％ ％ 84.7 +5.8 43.5 +9.0 49.0 +74.2 92.5Profit before income taxes 24.0 +25.6 55.2 +35.9 Profit before income taxes 19.1 -13.7 51.0 39.9 -9.8 +6.4 65.6 -3.9 77.2 68.0 -17.5 +4.7 39.9 -9.8 28.1 -26.4 68.0 -17.5 Supplementary Data-1
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1. Consolidated Financial Results (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 2) Operating Results of Food Segment (Billions of yen) Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost +7.632.0 +10.3 41.9 +5.7 74.0Operating profit 15.1 +10.9 47.4 ― ― ― ― ― ―14.3 +3.7 ― ― ― ― ― ― ―8.1 +13.3 ― ― ― ― ― ― ―4.8 +4.3 ― ― 44.4 +4.1 ― ― ― ― ― ― ― ― ― ― ― ―Gross profit 59.6 +5.8 ― +1.2468.6 174.2 +3.5 ― ― ― ― ― ― ― +2.2 485.3 +0.2 953.9Net sales 233.9 +4.1 49.9 YoY change ％ ％ ％ ％ ％ ％ ％ ％ ％ ％ ％ FYE March 2027 Q1 Q1-Q2 Q1-Q3 +6.475.6 68.7 +6.4 -3.2 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year 29.0 +5.0 39.7 +7.4 68.7Operating profit 13.6 +1.1 46.1 29.0 +5.0 -2.3 53.6 +8.4 54.9 +3.0 ― 27.3 +2.7 27.6 +3.3 54.9 +3.013.8 +2.4 ― 27.3 +2.7 ― 40.7 +1.5 ― 33.7 +1.7 ― 15.5 -5.7 18.1 +9.0 33.7 +1.77.2 -17.6 ― 15.5 -5.7 ― 24.1 -4.9 ― 18.4 +8.3 ― 9.5 +8.3 8.9 +8.3 18.4 +8.34.6 +5.9 ― 9.5 +8.3 ― 15.4 +17.3 ― +4.6 42.7 -1.3 ― 87.9 +2.6 ― 131.6 +1.9 ― 177.4 +3.9 ― 87.9 +2.6 89.4 +5.2 177.4 +3.9 ― 246.1 +4.6 ― 116.9 +3.2 129.2 +5.9 246.1Gross profit 56.4 -0.8 ― 116.9 +3.2 ― 185.3 +3.7 696.6 +0.9 ― 341.4 -0.2 355.2 +2.1 696.6 +0.9168.3 -0.4 ― 341.4 -0.2 ― 525.8 +0.5 ― ％ Net sales 224.8 -0.5 48.4 458.4 +0.7 -1.4 711.1 +1.3 76.1 942.8 +1.9 +0.8 458.4 +0.7 484.4 +3.1 942.8 +1.9 ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change Supplementary Data-2
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1. Consolidated Financial Results (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 3) Operating Results of Pharmaceutical Segment (Billions of yen) Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost Cost of sales Selling, general and administrative expenses Carriage and storage charges Sales promotion expenses Labor cost +8.416.1 +12.6 16.8 +4.7 33.0Operating profit 8.4 +76.3 52.3 ― ― ― ― ― ―7.0 +4.2 ― ― ― ― ― ― ―1.2 +25.5 ― ― ― ― ― ― ―0.6 +21.2 ― ― 20.9 +10.5 ― ― ― ― ― ― ― ― ― ― ― ―Gross profit 29.4 +23.7 ― +11.7 ％ ％ ％ 26.2 +4.0 ― ― ― ― ― ― ― 126.7 +8.3 132.6 +15.1 259.3Net sales 55.6 +13.6 43.9 ％ ％ ％ ％ ％ YoY change H2 (Q3-Q4) YoY change Full-year YoY change ％ ％ ％ +23.179.1 30.4 +23.1 +17.2 FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) 14.3 -22.8 16.1 +160.7 30.4Operating profit 4.7 -35.5 38.9 14.3 -22.8 +16.4 20.5 +1.1 25.8 +11.6 ― 13.4 +5.0 12.4 +19.7 25.8 +11.66.7 +4.3 ― 13.4 +5.0 ― 20.2 +4.7 ― 5.2 +4.6 ― 2.5 +17.1 2.7 -4.8 5.2 +4.61.0 +11.1 ― 2.5 +17.1 ― 3.8 +16.8 ― 2.7 +19.7 ― 1.2 -1.5 1.4 +46.0 2.7 +19.70.5 -0.4 ― 1.2 -1.5 ― 1.8 -8.3 ― +9.3 18.9 +6.6 ― 43.9 +10.9 ― 64.5 +9.0 ― 83.6 +5.0 ― 43.9 +10.9 39.7 -0.7 83.6 +5.0 ― 114.1 +9.3 ― 58.2 +0.1 55.8 +20.9 114.1Gross profit 23.7 -5.8 ― 58.2 +0.1 ― 85.0 +7.0 118.0 -5.7 ― 58.7 +5.4 59.3 -14.6 118.0 -5.725.2 -8.7 ― 58.7 +5.4 ― 87.1 -7.9 ― ％ Net sales 49.0 -7.3 39.1 116.9 +2.7 -6.6 172.2 -1.1 70.8 232.2 +1.1 -4.5 116.9 +2.7 115.2 -0.4 232.2 +1.1 ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change Supplementary Data-3
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2. Segment Information (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 1) Food Segment A．Net Sales (Billions of yen) Food segment Dairy Japan Overseas Chocolate Japan Overseas Nutrition Japan Overseas Food solutions Japan Overseas Other Japan Overseas Food segment Dairy Japan Overseas Chocolate Japan Overseas Nutrition Japan Overseas Food solutions Japan Overseas Other Japan Overseas Plan -- FYE March 2027 YoY change H1 plan achievement rate Full-year YoY changevs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change ％ ％ ％ ％ YoY changeYoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year ％ ％ 233.9 +4.1 49.9 ％ ％ ％ ％ ％ 468.6 +2.2 485.3 +0.2 953.9 +1.2 +1.6 279.3 +2.5 66.4 +0.6 48.6 139.2 +3.3 140.067.5 +0.8 48.5 136.6 +2.7 137.5 +0.9 274.1 +1.8 +75.5 5.1 +58.5 43.6 +12.7 50.1 2.6 +44.9 2.51.0 +18.9 41.1 87.1 +10.1 109.1 +1.4 196.3 +5.1 +0.0 119.8 +2.7 16.4 +18.4 45.5 51.0 +6.5 68.727.2 +9.5 53.4 36.0 +15.6 40.4 +3.8 76.5 +9.1 +0.4 118.2 -0.5 27.7 +5.7 50.4 60.5 -1.3 57.630.9 +6.3 51.1 55.0 -1.8 51.0 -1.5 106.1 -1.6 +17.4 12.0 +11.2 49.9 +2.6 46.9 5.4 +4.5 6.63.2 +12.3 58.8 106.6 +3.6 102.9 +2.2 209.6 +2.9 +1.6 194.6 +1.9 4.0 +3.4 50.4 98.6 +2.3 96.045.9 +2.5 46.6 8.0 +22.9 6.9 +11.3 14.9 +17.2 -6.6 150.4 -6.5 42.0 +1.5 56.0 75.0 -6.4 75.441.7 +1.4 55.7 75.0 -6.8 75.4 -6.8 150.4 -6.8 ― 0.0 ― Japan total 209.4 +2.9 50.3 0.0 ― 0.0-0.2 ― ― -0.1 24.5 +14.9 47.0 416.4 +0.6 428.8 -0.8 845.2 +8.6 108.7 +12.6 FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year 52.2 +17.4 56.4 YoY change H2 (Q3-Q4) YoY change Full-year YoY changevs. Full-year plan H1 (Q1-Q2) Overseas total ％ ％ YoY change Full-year plan achievement rate YoY changeYoY change H1 plan achievement rate YoY change vs. H1 plan ％ 224.8 -0.5 48.4 458.4 +0.7 -1.4 711.1 +1.3 76.1 ％ ％ ％ ％％ ％ ％ ％ +3.1 942.8 +1.9 66.9 -0.5 48.8 134.7 -0.6 -1.8 205.2 942.8 +1.9 +0.8 458.4 +0.7 484.4 -0.6 137.8 +1.5 272.6 +0.5-0.3 134.7 66.0 -0.7 48.8 132.9 -0.7 +0.8 75.1 272.6 +0.5 +0.5 0.9 +12.4 45.6 1.8 +7.2 -8.9 2.7 +3.5 65.0 +0.1 132.9 -0.7 136.3 +1.6 269.3-1.7 202.4 +0.7 75.2 269.3 +0.5 -9.8 3.2 -1.0 38.7 +3.9 49.2 79.1 +7.0 +0.6 137.3 3.2 -1.0 -23.4 1.8 +7.2 1.4 +7.0 107.7 +11.0 186.8 +9.3+5.5 79.1 24.8 +9.8 53.3 47.9 +7.8 +8.7 77.5 186.8 +9.3 +8.8 13.8 -5.3 43.3 31.1 +5.7 -2.5 52.1 +7.3 80.4 +3.9 47.9 +7.8 68.7 +9.5 116.7+2.6 85.1 +9.6 75.8 116.7 +8.8 +13.8 70.1 +10.0 29.1 -4.5 45.5 61.3 -1.6 -4.2 92.4 70.1 +10.0 +8.1 31.1 +5.7 38.9 -1.6 57.4 +1.4 118.8 -0.1+1.0 61.3 26.2 -5.3 45.3 56.0 -1.5 -2.8 78.6 118.8 -0.1 -0.8 2.8 +2.9 47.7 5.2 -2.5 -12.7 7.6 -10.0 71.4 +0.9 56.0 -1.5 51.8 -0.2 107.9-3.3 84.8 -2.0 79.3 107.9 -0.8 +18.6 10.8 +7.4 48.7 +1.2 46.8 102.9 +3.6 -1.1 155.2 10.8 +7.4 +1.7 5.2 -2.5 5.6 +3.6 100.7 +5.2 203.6 +4.4-1.5 102.9 44.8 +2.6 47.0 96.4 +3.9 +3.8 75.0 203.6 +4.4 +4.5 3.9 -12.4 45.0 6.5 -1.4 -24.8 9.0 +1.6 69.7 -1.5 96.4 +3.9 94.5 +5.1 190.9+1.1 146.2 +3.9 75.4 190.9 +4.5 +6.3 12.7 +2.2 41.2 -3.4 51.2 80.1 -4.8 -0.5 120.8 12.7 +2.2 -1.6 6.5 -1.4 6.2 -4.8 80.7 -4.9 160.8 -4.8+0.6 80.1 41.4 -2.9 51.4 80.4 -4.4 -4.8 75.6 160.8 -4.8 -4.7 -0.2 ― ― -0.3 ― ― -0.3 ― ― +0.7 80.4 -4.4 80.9 -4.9 161.4-0.1 121.2 -4.5 75.7 161.4 -4.7 ― -0.5 ― Japan total 203.4 +0.1 48.9 413.9 +0.4 -0.5 -0.5 ― ― -0.3 ― -0.2 +2.0 846.3 +1.2639.9 +1.1 75.9 846.3 +1.2 +0.5 Overseas total 21.3 -6.0 43.9 44.5 +2.9 413.9 +0.4 432.4 +8.0+4.4 44.5 +2.9 52.0 +12.7 96.5-8.6 71.2 +3.7 77.0 96.5 +8.0 Supplementary Data-4
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2. Segment Information (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 1) Food Segment B．Operating Profit (Billions of yen) Food segment Dairy Japan Overseas Chocolate Japan Overseas Nutrition Japan Overseas Food solutions Japan Overseas Other Japan Overseas Food segment Dairy Japan Overseas Chocolate Japan Overseas Nutrition Japan Overseas Food solutions Japan Overseas Other Japan Overseas Plan -- FYE March 2027 YoY change H1 plan achievement rate Full-year YoY changevs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change ％ ％ ％ ％ YoY changeYoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year ％ ％ 15.1 +10.9 47.4 ％ ％ ％ ％ ％ 32.0 +10.3 41.9 +5.7 74.0 +7.6 -16.9 28.1 -3.8 7.0 +6.4 46.9 13.8 +15.1 14.36.4 +6.2 46.5 15.0 +11.9 15.6 -16.6 30.6 -4.7 ― -2.4 ― 2.0 -34.2 47.9 -1.2 ― -1.2-0.6 ― ― 4.3 -10.0 13.6 +31.3 18.0 +18.3 +15.1 14.6 +1.3 -0.3 ― ― 3.5 -26.2 11.02.4 -29.3 69.3 0.7 ― 2.6 +224.9 3.3 +326.4 +8.4 13.5 +0.1 3.7 +24.1 53.5 6.8 -6.8 6.63.7 +20.9 55.1 7.0 -5.4 6.6 +3.8 13.7 -1.1 ― -0.1 ― 2.0 +15.4 29.2 -0.1 ― -0.00.0 -74.6 ― 7.0 +34.6 7.1 +65.1 14.2 +48.4 +24.1 14.8 +14.5 -0.2 ― ― 7.4 +6.5 7.32.3 -10.9 31.0 -0.4 ― -0.1 ― -0.5 ― -92.4 0.0 -96.9 0.8 +46.0 ― -0.0 ― 0.10.8 ― ― -0.0 ― 0.1 -92.0 0.0 -97.1 ―-0.0 ― ― +0.7 49.8 0.0 ― 0.0 ― 0.0 -1.0 Overseas total -1.2 ― ― 33.0 +1.8 40.8 -3.1 73.8Japan total 16.4 ― FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year -1.0 ― YoY change H1 plan achievement rate YoY change vs. H1 plan 1.1 ― 0.1 H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY changeYoY change Full-year plan achievement rate YoY change vs. Full-year plan ％％ ％ ％ ％％ ％ ％ 13.6 +1.1 46.1 29.0 +5.0 -2.3 ％ ％ ％ 29.0 +5.0 39.7 +7.4 68.7 +6.453.6 +8.4 75.6 68.7 +6.4 -3.2 +28.9 29.2 +22.821.0 +30.0 75.2 29.2 +22.8 +4.6 6.6 +9.3 51.1 13.4 +5.6 +3.6 12.0 +14.9 17.26.0 +23.7 56.4 12.0 +14.9 +12.0 13.4 +5.6 18.7 +22.0 32.1 +14.523.2 +19.1 75.8 32.1 +14.5 +4.8 ― -2.8 ―-2.1 ― ― -2.8 ― ― 3.1 +37.2 83.6 4.8 +53.8 +27.7 -1.4 ― -1.4-0.5 ― ― -1.4 ― ― 4.8 +53.8 10.4 -20.8 15.2 -6.412.7 +12.2 72.4 15.2 -6.4 -13.6 -13.5 14.4 +6.211.5 +24.5 70.8 14.4 +6.2 -11.2 -0.3 ― ― -0.0 ― ― 4.8 +94.4 9.63.4 +72.2 87.2 4.8 +94.4 +20.6 -0.0 － 0.8 -60.5 0.7 -70.41.2 -41.3 91.4 0.7 -70.4 -41.8 +7.7 13.5 -5.511.5 -13.0 87.0 13.5 -5.5 +1.9 3.0 -36.5 35.9 7.4 -19.5 -11.9 7.3 -14.2 6.13.1 -25.5 38.6 7.3 -14.2 -9.0 7.4 -19.5 6.4 +2.5 13.8 -10.611.6 -17.3 85.9 13.8 -10.6 +2.3 ― -0.3 ―-0.1 ― ― -0.3 ― ― 1.7 +10.1 24.9 5.2 +31.2 -26.9 -0.0 ― 0.00.1 ― ― -0.0 ― ― 5.2 +31.2 4.3 +6.4 9.5 +18.77.8 +20.5 67.8 9.5 +18.7 -17.7 -0.1 12.9 +6.810.6 +11.9 70.4 12.9 +6.8 -14.5 -0.8 ― ― -1.7 ― ― 7.0 +13.4 5.92.6 +9.2 33.6 7.0 +13.4 -9.1 -1.7 ― -1.5 ― -3.3 ―-2.7 ― ― -3.3 ― ― +140.9 1.1 -47.30.3 -81.3 82.1 1.1 -47.3 +132.5 0.5 -20.7 467.5 -0.2 ― ― -0.4 ― 1.5-0.4 ― ― -0.4 ― ― -0.2 ― 1.4 +52.6 1.1 -55.50.6 -73.8 72.6 1.1 -55.5 +42.5 ―-0.2 ― ― ｰ0.0 ― ―-1.0 ― ― -0.1 ― ― +2.3 49.1 32.4 +0.3 -0.1 ― 0.0 ― ｰ0.0 +3.7 Overseas total -2.6 ― ― -3.4 ― ― -4.0 ― -2.5 32.4 +0.3 42.1 +6.4 74.6-2.5 57.6 +5.5 75.4 74.6 +3.7Japan total 16.3 -2.4 ― -5.8 ―― -5.8 ― ― -3.4 ― Supplementary Data-5
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2. Segment Information (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 2) Food Segment - Overseas business A．Net Sales (Billions of yen) Food Segment China Asia (except China) Europe and Americas Exports and Corporate Food Segment China Asia (except China) Europe and Americas Exports and Corporate B．Operating Profit (Billions of yen) Food Segment China Asia (except China) Europe and Americas Exports and Corporate Food Segment China Asia (except China) Europe and Americas Exports and Corporate -3.2 ― ― -1.7 ― -1.4 ― -3.2 ―-1.8 ― ― -1.7 ― ― -2.3 ― ― 2.0 +17.8 -1.3 0.8 +7.1 1.1 +27.4 2.0 +17.80.4 +11.3 85.2 0.8 +7.1 +68.9 1.7 +38.1 84.4 1.3 -20.6 -24.0 0.9 +20.6 0.4 -56.5 1.3 -20.60.6 +8.5 96.3 0.9 +20.6 +48.4 1.2 -31.3 67.4 -6.0 ― ― -3.5 ― -2.5 ― -6.0 ―-1.8 ― ― -3.5 ― ― -4.6 ― ― -5.8 ― ― -3.4 ― -2.4 ― -5.8 ―-2.6 ― ― -3.4 ― ― -4.0 ― ― ％ ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change Plan -- FYE March 2027 YoY change H1 plan achievement rate Full-year YoY changevs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change ％ ％ ％ ％ YoY changeYoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year ％ ％ ％ 24.5 +14.9 47.0 ％ ％ ％ ％ +12.652.2 +17.4 56.4 +8.6 108.7 6.8 +14.1 44.3 +9.7 33.0 +17.0 9.2 +42.4 56.0 15.3 +26.8 17.7 +15.7 18.3 -2.2 34.7 +5.5 10.0 +9.7 47.8 16.4 +5.120.9 +7.1 21.2 +3.1 42.2 -1.5 ― ― ― -1.4 ― FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year -0.5 ― -0.8 YoY change H2 (Q3-Q4) YoY change Full-year YoY changevs. Full-year plan ％ ％ YoY change Full-year plan achievement rate YoY change ％ ％ ％ H1 (Q1-Q2) YoY change H1 plan achievement rate YoY change vs. H1 plan ％ 21.3 -6.0 43.9 44.5 +2.9 -8.6 71.2 +3.7 77.0 ％ ％ ％ ％％ +12.7 96.5 +8.0 5.9 -7.7 40.3 12.1 +6.8 -18.2 20.2 96.5 +8.0 +4.4 44.5 +2.9 52.0 +6.8 16.1 +13.7 28.2 +10.6+2.5 12.1 40.1 6.4 -5.1 40.3 14.2 -6.8 +5.9 73.6 28.2 +10.6 -1.4 +6.2 9.1 -6.0 44.6 19.5 +2.3 -4.4 30.6 +5.6 78.4 +9.6 14.2 -6.8 18.7 +18.7 32.9-11.5 22.9 -4.0 76.2 32.9 +6.2 +10.8 ― ― -4.9 ― ― +6.5 -0.2 ― ― -1.4 ― ― -2.6 40.1 +6.5 +2.8 19.5 +2.3 20.5 ― -3.4 ― -4.9 ― FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H2 (Q3-Q4) YoY change Full-year YoY changevs. Full-year plan ％ ％ YoY change Full-year plan achievement rate YoY change H1 (Q1-Q2)YoY change H1 plan achievement rate YoY change vs. H1 plan ％％ ％ ％ -1.2 ― ― ％％ ％ ％ ％ 1.1 ― 0.1 ― -1.0 ― ― -1.0 ― -1.1 ― 0.2 ― -0.8 ― +139.2 1.6 +20.2 0.1 -76.4 11.1 0.6 -28.9 0.90.4 -31.8 62.2 0.9 +7.1 1.2 +9.5 2.1 +8.5 -1.5 ― -1.3 ― -2.8 ―-0.7 ― ― Supplementary Data-6
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2. Segment Information (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 3) Pharmaceutical Segment A．Net Sales (Billions of yen) Pharmaceutical Segment Domestic pharmaceuticals Overseas pharmaceuticals Vaccines and Veterinary drugs Pharmaceutical Segment Domestic pharmaceuticals Overseas pharmaceuticals Vaccines and Veterinary drugs B．Operating Profit (Billions of yen) Pharmaceutical Segment Domestic pharmaceuticals Overseas pharmaceuticals Vaccines and Veterinary drugs Pharmaceutical Segment Domestic pharmaceuticals Overseas pharmaceuticals Vaccines and Veterinary drugs 4.3 ― +36.5 0.5 -88.4 3.8 ― 4.3 ―-1.8 ― ― 0.5 -88.4 -70.4 0.5 ― 17.3 10.3 +187.9 +116.9 4.1 +21.2 6.2 +3,175.5 10.3 +187.92.2 -26.1 97.4 4.1 +21.2 +79.5 5.5 +4.5 115.5 15.7 -27.0 -12.6 9.6 -10.5 6.1 -43.6 15.7 -27.04.3 -28.4 52.9 9.6 -10.5 +16.7 14.4 -17.6 80.2 30.4 +23.1 +17.2 14.3 -22.8 16.1 +160.7 30.4 +23.14.7 -35.5 38.9 14.3 -22.8 +16.4 20.5 +1.1 79.1 ％ ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change +4.7 33.0 +8.416.1 +12.6 16.8 126.7 +8.3 132.6 +15.1 259.3 +11.7 49.0 -7.3 39.1 116.9 +2.7 -6.6 172.2 -1.1 70.8 232.2 +1.1 -4.5 116.9 +2.7 115.2 -0.4 232.2 +1.1 -38.62.8 -30.4 3.4 +46.44.9 +883.9 1.3 -64.1 6.3 +28.8 2.8 +26.6 98.8 8.3 -14.3 12.0 +97.0 20.3 -44.0 6.3 6.0 +38.3 73.2 ％ ―-0.4 ― 8.4 +76.3 52.3 ％ ％％ ％ ％ ％ 6.2 +6.9 YoY change Full-year YoY change ％ ％ ％ ％ YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate 19.7 27.6 +3.6 +6.2 64.8 +1.664.8 +1.6 -1.4 32.6 -2.6 32.1 +5.4-3.0 27.6 +3.6 23.0 +7.7 50.7-12.5 39.2 +3.7 74.9 50.7 27.5 -3.0 47.6 56.6 +5.6 ％ ％ 15.2 -18.3 42.6 32.6 -2.6 -8.7 46.5 -5.5 70.8 -6.8 56.6 +5.6 60.0-2.1 86.4 ％ ％ ％ Full-year plan achievement rate YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 YoY change H2 (Q3-Q4) YoY change Full-year YoY changevs. Full-year plan H1 (Q1-Q2) YoY change +8.3 ％ ％ -0.9-6.3 116.6-0.7 69.1 116.6 -0.9 +5.4 Q1-Q3 Full-year 6.8 +10.6 23.7 38.4 +19.5 74.117.0 +11.7 47.6 29.0 +5.0 25.9 +12.3 54.9 +14.535.7 +9.6 130.2 +11.661.8 +9.2 68.3 +13.8 ％ 31.7 +15.3 51.4 ％ ％ ％ ％ ％ ％ 55.6 +13.6 43.9 ％ ％ ％ ％ YoY changeYoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate Full-year YoY changevs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Supplementary Data-7
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3. Analysis of Operating Profit (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 1) Results -- FYE March 2027 (Billions of yen) Due to increased/decreased sales Impact of drug price revision Changes in costs of goods sold Changes in other SG&A expenses Other (incl. change in results of subsidiaries) Total change *1 Include effect of price increases (Breakdown) *2: [Food] Increase in raw materials costs (incl. domestic raw milk and cocoa): -5.3 [Pharma] Increase in procurement costs: -0.5 *3: [Food] Increase in marketing expenses: -1.6 Increase in other costs: -0.3 [Pharma] Increase in marketing expenses: -0.3 Increase in other costs: -0.4 2) Plan -- FYE March 2027 (Billions of yen) Due to increased/decreased sales Impact of drug price revision Changes in costs of goods sold Changes in other SG&A expenses Other (incl. change in results of subsidiaries) Total change -7.041.9 16.8 -3.8 100.0 74.0 33.0Plan -- FYE March 2027 45.0 32.0 16.1 -3.1 55.0 +0.7 -0.3 +6.6 +5.2 +2.5 -1.1+4.0 +2.9 +1.7 -0.7 +2.6 +2.2 +2.4 -0.3 +2.7 +4.6 -0.8 -1.1-2.0 +1.9 -3.2 -0.7 +4.7 +2.6 -2.8 ― -12.4 -10.5 -1.8 ―-3.2 -4.2 +1.0 ― -9.2 -6.3 -1.0 ― -10.8 -8.9 -1.9 ―-10.5 -9.6 -0.9 ― -0.3 +0.7 +2.0 ― +3.6 ― +3.6 ―+1.6 ― +1.6 ― +2.0 ― +0.1 ― +23.6 +20.1 +3.5 ― 93.3 68.7 30.4 -5.9 +18.2 +14.9 +3.4 ― +5.4 +5.2 Results -- FYE March 2026 40.9 29.0 14.3 -2.3 52.3 39.7 16.1 -3.5 Pharma Other Consolidated Total Food Pharma Other H1 (Q1-Q2) Plan H2 (Q3-Q4)Plan Full-year Plan Consolidated Total Food Pharma Other Consolidated Total Food Results -- FYE March 2027 22.6 15.1 8.4 -0.9 +4.9 +1.4 +3.6 -0.2 +3.2 +1.7 +1.7 -0.2 -2.6 -1.8 -0.8 ― +0.5 ― -5.9 -5.3 -0.5 ― +0.5 ― 68.7 30.4 -5.9 +9.7 +6.9 +2.8 ― 29.0 14.3 -2.3 70.0 53.6 20.5Results -- FYE March 2026 17.7 13.6 4.7 -0.7 40.9 -4.1 93.3 Food Pharma Other Consolidated Total Other Consolidated Total Food Pharma Other Full-year Consolidated Total Food Pharma Other Consolidated Total Food Pharma Q1 Q1-Q2 Q1-Q3 22.6 +3.2 -2.6(*3) -5.9(*2) +0.5 +9.7(*1) 17.7 1Q Results -- FYE March 2027 Other (incl. change in results of subsidiaries) Changes in other SG&A expenses Changes in costs of goods sold Impact of drug price revision Due to increased/decreased sales 1Q Results -- FYE March 2026 YoY Change in Operating Profit Supplementary Data-8
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4. Consolidated Financial Positions (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) (Billions of yen) Current assets Non-current assets Current liabilities Non-current liabilities Shareholders' equity Consolidated interest bearing debt Food segment assets Pharmaceutical segment assets Current assets Non-current assets Current liabilities Non-current liabilities Shareholders' equity Consolidated interest bearing debt Food segment assets Pharmaceutical segment assets 870.5 +4.2 372.6 -4.0 399.6 +2.9 434.4 +11.9 435.8 +12.2 Reference 89.7 +87.8 100.4 +110.1 142.1 +3.3 680.5 -0.5 689.4 +0.8 692.5 +1.2 688.7 +0.7 +197.3 112.5 +135.5 819.6 -1.9 843.9 +1.0 878.7 +5.2 130.9 +52.9 Total net assets 784.4 -0.9 793.8 +0.3 809.4 +2.2 817.5 74.9 -12.5 94.8 +10.8 130.5 +52.5 +13.1 341.1 +11.1 345.2 +12.4 365.7 +19.1 313.2 +2.0 Total liabilities 416.0 +6.0 440.0 +12.1 496.3 +26.4 444.2 647.3 +0.6 659.0 +2.4 690.3 +7.2 553.2 +2.3 574.8 +6.3 615.4 +13.8 585.3 +8.2 676.3 +5.1 Total assets 1,200.5 +1.4 1,233.9 +4.2 1,305.8 +10.2 1,261.7 +6.5 Change from the previous fiscal year end Change from the previous fiscal year end ％ ％ ％ FYE March 2026 As of Jun. 30 As of Sep. 30 As of Dec. 31 As of Mar. 31 Change from the previous fiscal year end Change from the previous fiscal year end ％ 427.0 -2.0 Reference 138.2 +22.8 689.8 +0.2 860.3 -1.2 Total net assets 817.5 -0.0 131.1 +0.2 337.1 +7.6 Total liabilities 468.2 +5.4 688.9 +1.9 596.8 +2.0 Total assets 1,285.7 +1.9 Change from the previous fiscal year end Change from the previous fiscal year end ％ ％ ％ FYE March 2027 As of Jun. 30 As of Sep. 30 As of Dec. 31 As of Mar. 31 Change from the previous fiscal year end Change from the previous fiscal year end ％ Supplementary Data-9
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5. Capital Expenditures, Depreciation, R&D Expenses (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) (Billions of yen) Food segment Pharmaceutical segment Holdings Food segment Pharmaceutical segment Holdings Food segment Pharmaceutical segment Holdings Note: The figures of "Capital expenditures" and "Depreciation and amortization" include "Intangible assets." 0.6 1.2 1.1 2.5 1.2 2.4 1.2 2.6 8.3 20.4 11.6 23.3 13.7 20.5 6.9 13.1 6.2 12.9 6.6 14.0 6.9 14.1 11.6 25.3 0.2 0.4 R&D expenses 15.8 34.8 19.0 38.8 21.6 37.0 19.8 0.1 0.3 0.1 0.3 0.1 0.3 42.0 21.7 45.2 22.6 44.9 21.8 44.0 21.3 45.1 4.9 9.7 4.7 9.6 4.9 10.5 6.1 12.0 8.3 13.6 10.8 15.6 17.0 49.9 54.9 27.7 57.6 16.3 39.2 24.3 40.6 20.6 52.9 41.3 89.7 Depreciation and amortization 26.8 55.3 27.5 54.9 27.0 11.4 38.8 0.3 0.5 0.2 0.4 0.4 0.8 0.2 0.5 Capital expenditures 25.0 53.4 35.3 56.6 38.1 103.7 53.0 129.0 Full-year H1 (Q1-Q2) Full-year FYE March 2024 FYE March 2025 FYE March 2026 Plan -- FYE March 2027 H1 (Q1-Q2) Full-year H1 (Q1-Q2) Full-year H1 (Q1-Q2) Supplementary Data-10
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6. Other (Amounts appearing in the tables below have been rounded off to nearest 100 million yen) 1) [Reference] Food Segment (Non-consolidated) Sales by Main Products [Before applying revenue recognition standards] (Billions of yen) Probiotic yogurt Yogurt Drinking milk for consumers (incl. home delivery) Chocolate Infant formula and enteral formula Sports nutrition (incl. SAVAS Milk Protein) B2B Cheese for consumers Ice cream for consumers Probiotic yogurt Yogurt Drinking milk for consumers (incl. home delivery) Chocolate Infant formula and enteral formula Sports nutrition (incl. SAVAS Milk Protein) B2B Cheese for consumers Ice cream for consumers 52.1 +5.9 +0.8 31.6 +4.3 20.4 +8.4 52.1 +5.912.9 +0.8 41.4 31.6 +4.3 +1.6 41.9 +4.9 81.2 28.1 +4.7 +0.2 13.6 +4.8 14.5 +4.5 28.1 +4.77.0 +6.3 51.3 13.6 +4.8 -0.7 21.5 +4.9 76.7 104.0 +5.9 +2.1 49.3 +6.6 54.7 +5.4 104.0 +5.923.5 +5.0 48.7 49.3 +6.6 +2.3 78.2 +5.6 76.8 53.6 +3.5 +3.2 28.3 +2.8 25.3 +4.3 53.6 +3.513.3 -1.3 47.7 28.3 +2.8 +1.5 42.2 +3.1 81.3 66.2 -3.6 -0.9 33.3 -3.8 32.8 -3.5 66.2 -3.615.7 -7.6 44.2 33.3 -3.8 -6.0 51.4 -5.0 77.0 120.1 +8.8 +2.9 47.5 +6.2 72.5 +10.6 120.1 +8.825.2 +9.0 53.7 47.5 +6.2 +1.2 86.7 +9.7 74.3 78.2 +0.2 -0.8 40.4 +1.3 37.8 -1.0 78.2 +0.219.0 -0.9 45.0 40.4 +1.3 -4.7 59.9 +0.2 76.0 78.2 +2.4 -0.9 40.9 +4.3 37.3 +0.3 78.2 +2.420.6 +5.2 51.1 40.9 +4.3 +1.5 59.9 +3.1 75.8 ％ 22.3 -1.3 49.9 44.1 -0.7 -1.0 71.4 +3.1 76.1 98.3 +2.7 +4.8 44.1 -0.7 54.2 +5.7 98.3 +2.7 ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change 32.5 +2.7 20.3 -0.5 52.8 +1.513.8 +7.0 42.5 14.2 +4.6 15.7 +7.9 29.9 +6.37.2 +3.0 50.8 49.3 -0.0 55.7 +1.8 105.0 +1.024.1 +2.5 48.8 28.8 +1.8 24.4 -3.5 53.2 -0.715.1 +13.6 52.4 32.6 -2.4 32.3 -1.6 64.9 -2.015.8 +0.6 48.5 50.0 +5.1 73.1 +0.7 123.1 +2.527.5 +8.9 55.0 42.0 +3.9 40.0 +5.8 81.9 +4.819.7 +3.5 47.0 41.6 +1.6 38.8 +4.1 80.4 +2.820.4 -0.8 49.1 ％ 23.1 +3.6 50.9 45.3 +2.6 50.4 -7.1 95.6 -2.7 ％ ％ ％ ％ ％％ ％ ％ ％ ％ FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Plan -- FYE March 2027 YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY change Full-year YoY change Supplementary Data-11
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6. Other (Amounts appearing in the tables below have been rounded down to nearest 100 million yen) 2) [Reference] Pharmaceutical Segment Sales by Main Products [#Before applying revenue recognition standards] (Billions of yen) Infectious diseases *1 Sulbacillin # TAZOPIPE # MEIACT # Immune system *1 Blood plasma products # REZUROCK # CNS *1 Generic drugs *2 Human vaccine Influenza vaccine # Infectious diseases *1 Sulbacillin # TAZOPIPE # MEIACT # Immune system *1 Blood plasma products # REZUROCK # CNS *1 Generic drugs *2 Human vaccine Influenza vaccine # *1 Includes generic drugs in each disease area *2 Net sales for generic drugs not included into each disease area +1.221.1 +1.2 -0.1 16.7 +1.3 4.3 +6.8 -0.6 ― ― 16.7 +1.3 -2.6 23.4 +4.5 110.9 -3.3 22.9 +5.5 17.5 +8.6 40.5-13.5 31.9 +6.2 76.1 40.5 +6.8Vaccines and Veterinary drugs 3.8 +13.3 14.4 22.9 +5.5 11.1 +11.7 11.2 +3.4 22.3 +0.8 21.1 +7.416.8 +7.0 74.3 22.3 +7.4 -1.35.5 +6.2 49.3 11.1 +11.7 -1.7 10.2 -6.3 9.4 -12.5 19.7 -9.415.2 -11.4 75.4 19.7 -9.4 -2.24.8 -28.8 47.2 10.2 -6.3 +0.5 4.2 +443.3 4.8 +130.1 9.0 +214.56.5 +262.2 73.8 9.0 +214.5 +1.92.0 +1,188.4 81.0 4.2 +443.3 +70.9 8.7 +33.1 6.2 -0.7 15.0 +16.511.5 +17.4 69.3 15.0 +16.5 -9.14.6 +27.3 66.0 8.7 +33.1 +25.2 14.8 +37.3 18.9 +25.0 33.8 +30.123.3 +30.8 63.9 33.8 +30.1 -7.58.1 +46.0 62.8 14.8 +37.3 +14.7 2.3 -29.9 2.5 -40.2 4.8 -35.73.6 -36.0 56.4 4.8 -35.7 -24.01.1 -32.2 28.3 2.3 -29.9 -41.9 4.4 +14.8 4.4 -17.7 8.9 -4.06.8 +2.3 68.8 8.9 -4.0 -10.81.9 +8.1 36.4 4.4 +14.8 -14.6 6.8 -5.0 6.4 -29.2 13.3 -18.510.3 -12.0 67.3 13.3 -18.5 -13.22.8 -19.0 36.6 6.8 -5.0 -13.4 20.4 -6.8 20.3 -25.2 40.7 -17.031.0 -14.4 67.7 40.7 -17.0 -11.19.0 -16.6 38.6 20.4 -6.8 -12.8 ％ ％ ％％ ％ ％ ％ Full-year YoY change Domestic pharmaceuticals (Japan) ％ ％ ％ ％ YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) YoY changeYoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2026 Q1 Q1-Q2 Q1-Q3 Full-year YoY change H1 plan achievement rate 17.2 +3.0 4.8 +9.3 22.0 +4.3 Vaccines and Veterinary drugs 19.4 +10.3 43.9 +8.3 -0.7 ― ― 24.5 +6.8 +32.0 4.8 +27.0 19.8 14.3 +29.6 15.0 +34.4 29.4 -8.9 9.7 +3.1 19.1 -3.2 7.5 +34.7 52.1 9.3 +6.1 10.0 +10.6 5.0 +4.0 53.7 4.9 +15.9 5.1 +27.0 3.4 +71.0 70.0 8.2 -5.8 10.8 +72.6 19.1 -4.0 17.2 -9.3 31.4 -7.0 2.9 -37.3 35.1 14.2 +69.4 7.1 +45.9 7.6 -5.6 53.8 2.7 +19.6 4.3 +44.1 1.4 +32.3 53.8 6.1 +37.5 6.6 +50.8 12.82.9 +53.9 47.7 7.0 23.8 +16.9 26.2 ％ ％％ ％ ％ ％ +2.4 7.2 +11.6 14.2 YoY change Full-year +6.9 YoY change Domestic pharmaceuticals (Japan) ％ ％ ％ YoY change vs. Full-year plan H1 (Q1-Q2) YoY change H2 (Q3-Q4) +29.0 50.0 +23.0 3.5 +23.8 51.1 ％ 11.5 +28.1 48.5 ％ Plan -- FYE March 2027 YoY change H1 plan achievement rate YoY change vs. H1 plan YoY change Full-year plan achievement rate FYE March 2027 Q1 Q1-Q2 Q1-Q3 Full-year Supplementary Data-12
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6. Other 3) Pipeline *The "stage" shows the development status of each pipeline. Ⅰ,Ⅱ and Ⅲ denote the phases of clinical trials; F indicates the submission of a marketing authorization application, and A indicates the receipt of marketing authorization. Product name/Development Code (generic name) Therapeutic Category/ Indication Notes As of Aug. 5, 2026 ME3183 ME3241 Autoimmune disorders (Anti-PD-1 agonist antibody) Overseas I II III F A Joint research：The Foundation for Biomedical Research and Innovation at Kobe F A Discovered in-house (Reviewing development plan in light of market environment) Palmoplantar pustulosis (Selective PDE4 inhibitor) Overseas I II III F A Psoriasis (Selective PDE4 inhibitor) Overseas I II III Discovered in-house (Orphan Medicinal Product Designation by the European Commission) Co-development: Dong-A ST Co., Ltd. (South Korea) / Out-license: Intas Pharmaceuticals Ltd. (India)Japan I II III F A AChronic Lung Allograft Dysfunction (Selective ROCK2 inhibitor) Japan I II III F II III F A Approved (South Korea, Taiwan, Thailand) Chronic Graft Versus Host Disease (Pediatric) (Selective ROCK2 inhibitor) Japan I II III F A II III F A Discovered in-house Immune and Inflammatory diseases REZUROCK/ME3208（Belumosudil） Chronic Graft Versus Host Disease (Selective ROCK2 inhibitor) Overseas I Hematology / OncologyKD-416(Blood coagulation factor X agent) Suppression of bleeding tendency in blood coagulation factor X deficiency (Human plasma-derived products) Japan I IMULDOSA/DMB-3115 （Ustekinumab Biosimilar） Plaque psoriasis/Psoriatic arthritis/Crohn's disease/Ulcerative colitis (Biosimilar) Overseas I II III F A KD-380(Immunoglobulin 10% liquid) Induction and maintenance therapy for patients with chronic inflammatory demyelinating polyneuropathy (CIDP) and multifocal motor neuropathy (MMN) (Human plasma-derived products) Japan I II III F A F A Co-development: HUYABIO International, LLC (The U.S.) III F A HIYASTA/HBI-8000（Tucidinostat） Unresectable or metastatic melanoma (HDAC inhibitor) Overseas I II III LASERPHYRIN/ME2906 (Talaporfin sodium) Cervical Intraepithelial Neoplasia（CIN） （PhotodynamicTherapy） Japan I II KD-382 Live attenuated tetravalent vaccine against dengue fever Overseas I II III F A Japan I II III F A II III F Discovered in-house Overseas I II III F A Partnership: CSL Seqirus (The U.S.) A Stage Infectious diseases OP0595 (Nacubactam) Infections caused by Gram-negative bacteria suspected of being resistant to carbapenem (β-lactamase inhibitor) Japan I II III F A F A KD-414 Inactivated vaccine against COVID-19 (Pediatric） Japan I KOSTAIVE Self-amplifying mRNA vaccine against COVID-19 (12-17 years old) Japan I II III KD2-396 Hexavalent vaccine against diphtheria, tetanus, pertussis, poliovirus, Haemophilus influenzae type b, and Hepatitis B virus (Six-in-one combination vaccine) Supplementary Data-13