Interim report
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 Consolidated Financial Results kikkoman seasoning your life August 5 , 2026 Kikkoman Corporation Flash Report for 1Q Fiscal 2027 ( IFRS ) Three - month period ended June 30 , 2026 Listed company name : Shares listed : Code No .: URL : Representative : Contact : E - mail : Kikkoman Corporation Tokyo Stock Exchange ( Prime ) 2801 https://www.kikkoman.com Shozaburo Nakano , Representative Director , President and CEO ( Chief Executive Officer ) Hiroshi Ito , General Manager , Corporate Communication Department ir@mail.kikkoman.co.jp Scheduled date for cash dividend payments : Supplementary Schedules for quarter : Results briefing for quarter : Yes None
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 1 (Amounts less than ¥1 million are rounded down in the following tables) 1. Consolidated Business Performance for the Three-month Period Ended June 30, 2026 (April 1, 2026 to June 30, 2026) (1) Consolidated Business Performance (Millions of yen) Revenue Business profit Operating profit Profit before income taxes Amount YoY (%) Amount YoY (%) Amount YoY (%) Amount YoY (%) Apr. 1, 2026– Jun. 30, 2026 202,032 15.0 25,256 29.3 24,627 29.0 26,166 24.1 Apr. 1, 2025– Jun. 30, 2025 175,660 (1.4) 19,532 (10.8) 19,091 (11.1) 21,084 (14.6) Profit attributable to owners of the parent Total comprehensive income Amount YoY (%) Amount YoY (%) Apr. 1, 2026– Jun. 30, 2026 19,017 24.3 27,554 181.8 Apr. 1, 2025– Jun. 30, 2025 15,293 (15.3) 9,778 (76.4) Basic earnings per share (yen) Diluted earnings per share (yen) Apr. 1, 2026– Jun. 30, 2026 20.53 ー Apr. 1, 2025– Jun. 30, 2025 16.24 ー (Note) Business profit is defined as a line-item profit from revenue less cost of sales and selling, general and administrative expenses. (2) Consolidated Financial Position ( M i l l i o n s o f y e n ) Total assets Total equity Total equity attributable to owners of the parent Ratio of equity attributable to owners of the parent to total assets Jun. 30, 2026 756,508 582,277 574,233 75.9% Mar. 31, 2026 751,660 568,841 560,924 74.6%
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 2 2. Cash Dividends Cash dividends per share (yen) 1Q-end 2Q-end 3Q-end Year-end Total Apr. 1, 2025– Mar. 31, 2026 − 10.00 − 15.00 25.00 Apr. 1, 2026– Mar. 31, 2027 − Apr. 1, 2026– Mar. 31, 2027 (Forecast) 10.00 − 15.00 25.00 (Note) Revisions to most recently announced forecasts of dividends: None 3. Consolidated earnings forecasts for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027) (Millions of yen) Revenue Business profit Operating profit Profit before income taxes Amount YoY (%) Amount YoY (%) Amount YoY (%) Amount YoY (%) Apr. 1, 2026– Mar. 31, 2027 799,100 7.2 82,300 3.5 78,800 3.8 84,400 0.4 Profit attributable to owners of the parent Basic earnings per share (yen) Amount YoY (%) Apr. 1, 2026– Mar. 31, 2027 61,300 (0.5) 66.16 (Note) Revisions to most recently announced forecasts of business performance: None
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 3 [Notes] (1) Changes in significant subsidiaries during the period (Changes in certain specific subsidiaries resulting in a change in scope of consolidation): None (2) Changes in accounting policy and changes in accounting estimates ( ⅰ ) Changes in accounting polici es required by IFRS: None ( ⅱ ) Changes in accounting policy other than those in ( ⅰ ) above: None (ⅲ) Changes in accounting estimates: None (3) Issued shares (common stock) ( ⅰ ) Shares issued at the end of period (including treasury stock) June 30, 2026 － 969,416,010 shares March 31, 2026 － 969,416,010 shares ( ⅱ ) Treasury stock at the end of period June 30, 2026 － 42,872,742 shares March 31, 2026 － 42,876,345 shares (ⅲ) Average shares outstanding during the period (cum ulative from the beginning of the fiscal year) June 30, 2026 － 926,539,858 shares June 30, 2025 － 941,917,460 shares (Note) The number of treasury stock at end of period includes the Company’s shares held by the BIP (Board Incentive Plan) Trust established for the remuneration plan for the Company’s directors, etc. (898,714 shares as of June 30, 2026, 904,245 shares as of March 31, 2026). The Company’s shares held by the BIP Trust are included in the number of shares of treasury stock which are deducted from the number of shares when calculating the average number of shares outstanding during the period. * This Flash Report is not included in the scope of a quarterly review by certified public accountants or an audit firm. * Explanation concerning the appropriate use of financial result forecasts and other special notes (Caution Regarding Forward-looking Statements) Forecasts of business performance and future developments noted in this report are based on assumptions from information available to management at the time of disclosure and deemed reasonable at the present time. The Company makes no promises or commitments regarding achievements of such forecasts and future developments. Actual results may differ significantly from forecasts. For details of business performance forecasts and guidelines for assumptions, please refer to the attachments to this report, Page 9, 1. Qualitative Information and Consolidated Financial Statements, (3) Explanation of forward-looking statements, including forecasts of consolidated business performance. (How to obtain supplementary schedules) Kikkoman will publish supplementary schedules on TD-net for viewing in Japan, and on its website.
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 4 Table of Contents of Attachments 1. Qualitative Information and Consolidated Financial Statements ························································ 5 (1) Explanation of business performance ··················································································· 5 (2) Explanation of financial position ························································································ 9 (3) Explanation of forward-looking statements, including forecasts of consolidated business performance ····· 9 2. Condensed Quarterly Consolidated Financial Statements and Main Notes ··········································· 10 (1) Condensed Quarterly Consolidated Statements of Financial Position ············································· 10 (2) Condensed Quarterly Consolidated Statements of Profit or Loss and Condensed Quarterly Consolidated Statements of Comprehensive Income ······································ 12 (Condensed Quarterly Consolidated Statements of Profit or Loss) ··············································· 12 (Condensed Quarterly Consolidated Statements of Comprehensive Income) ··································· 13 (3) Condensed Quarterly Consolidated Statements of Changes in Equity ············································ 14 (4) Notes on Condensed Quarterly Consolidated Financial Statements ··············································· 16 (Going Concern Assumption) ·························································································· 16 (Notes on Quarterly Consolidated Statements of Cash Flows) ···················································· 16 (Segment Information) ································································································· 16
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 5 1. Qualitative Information and Consolidated Financial Statements (1) Explanation of business performance During the first three months of fiscal 2027 (the period under review), although some regions showed signs of weakness, the global economy gradually picked up. However, there continued to be uncertainty, including the situation in the Middle East. In these circumstances, the Domestic Foods—Manufactur ing and Sales business as a whole reported a year- on-year increase in sales, and so did both of the Overseas Foods—Manufacturing and Sales and Overseas Foods—Wholesale businesses. As a result, consolidated operating results for the period under review were as follows. <Consolidated Financial Statements> (Millions of yen, %) 1Q FY2026 1Q FY2027 4.1.2025– 6.30.2025 4.1.2026– 6.30.2026 Increase /Decrease Foreign exchange impact Increase /Decrease excl. foreign exchange impact Amount % Amount % Amount YoY % Amount YoY Revenue 175,660 100.0 202,032 100.0 26,372 115.0 － 15,841 10,530 106.0 Business profit 19,532 11.1 25,256 12.5 5,723 129.3 1.4 2,175 3,548 118.2 Operating profit 19,091 10.9 24,627 12.2 5,536 129.0 1.3 2,043 3,492 118.3 Profit before income taxes 21,084 12.0 26,166 13.0 5,082 124.1 0.9 2,136 2,946 114.0 Profit attributable to owners of the parent 15,293 8.7 19,017 9.4 3,723 124.3 0.7 1,576 2,147 114.0 Exchange Rate (¥/US$) 145.19 160.51 15.32 (¥/EUR) 164.37 185.45 21.08
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 6 <Reportable Segments> (Millions of yen, %) 1Q FY2026 1Q FY2027 4.1.2025– 6.30.2025 4.1.2026– 6.30.2026 Increase /Decrease Foreign exchange impact Increase /Decrease excl. foreign exchange impact Amount % Amount % Amount YoY % Amount YoY Domestic Foods— Manufacturing and Sales Revenue 39,990 100.0 42,033 100.0 2,042 105.1 － － 2,042 105.1 Business profit 2,527 6.3 2,886 6.9 359 114.2 0.6 － 359 114.2 Domestic Others Revenue 5,400 100.0 5,970 100.0 569 110.5 － － 569 110.5 Business profit 478 8.9 768 12.9 289 160.4 4.0 － 289 160.4 Overseas Foods— Manufacturing and Sales Revenue 41,996 100.0 48,231 100.0 6,235 114.8 － 4,612 1,622 103.9 Business profit 11,030 26.3 12,810 26.6 1,780 116.1 0.3 1,210 569 105.2 Overseas Foods— Wholesale Revenue 99,168 100.0 117,119 100.0 17,951 118.1 － 11,856 6,094 106.1 Business profit 6,400 6.5 9,395 8.0 2,994 146.8 1.5 828 2,166 133.8 Adjustments Revenue (10,895) 100.0 (11,322) 100.0 (426) － － (627) 200 － Business profit (903) － (604) － 299 － － 136 163 － Consolidated Total Revenue 175,660 100.0 202,032 100.0 26,372 115.0 － 15,841 10,530 106.0 Business profit 19,532 11.1 25,256 12.5 5,723 129.3 1.4 2,175 3,548 118.2 Exchange Rate (¥/US$) 145.19 160.51 15.32 (¥/EUR) 164.37 185.45 21.08 Performance in each reportable segment is outlined as follows. 【Domestic】 Revenue in Japan was as follows. Foods—Manufacturing and Sales This operating segment comprises the Soy Sauce Division; the Food Products Division, which includes tsuyu (soy sauce soup base), tare (dipping and marinade sauces), and Del Monte seasonings; the Beverages Division, which includes soy milk beverages and Del Monte beverages; and the Liquor and Wine Division, which includes mirin and wines. The segment is engaged in manufacturing and sales of the above products in Japan. Revenue for each division was as follows. ■Soy Sauce Division In the home-use sector, sales of the Itsudemo Shinsen (always fresh) series increased year on year, mainly due to the continued implementation of TV advertisement-focused marketing measures with the aim of communicating product’s added value. However, sales of products in conventional plastic bottles decreased year on year. As a result, overall sales in the home-use sector were higher than the year-ago level. In the industrial- and food service-use sectors, sales remained the same level year on year. As a result, overall sales of the Soy Sauce Division marked a year-on-year increase.
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 7 ■Food Products Division Overall sales of tsuyu products increased year on year, reflecting strong sales of Koi Dashi Hontsuyu (soup stock) and other products. Sales of tare products increased year on year due to the strong performance of its mainstay Wagaya wa yakinikuya-san series and newly launched Kakeru Tamanegi (sauce with minced onion). Sales of the Uchino Gohan series (handy Japanese-style seasoning mixes) decreased year on year. Sales of Del Monte seasonings increased year on year. As a result, overall sales for the Food Products Division marked a year-on- year increase. ■Beverages Division Overall sales of soy milk beverages increased year on year. Specifically, against the backdrop of increasing demand for health and protein as well as growing beauty awareness, we implemented proactive advertisement activities, and the market continued its growth trend. Sales were particular ly strong for unprocessed soy milk. Sales of Del Monte beverages increased year on year due to the favorable performance of tomato juice and Puree Fruits. As a result, overall sales of the Beverages Division marked a year-on-year increase. ■ Liquor and Wine Division Sales of Hon Mirin increased year on year, reflecting strong sales of small- and medium-volume and high value- added products such as Komekoji Kodawari-jikomi Hon Mirin in the home-use sector. In addition, sales of products in the industrial- and food service-use sectors ro se year on year. Sales of wine decreased year on year. As a result, overall sales of the Liquor and Wine Division remained flat year on year. As a result of the above, the Foods—Manufacturing and Sales segment recorded higher revenue and higher profit, with revenue increasing 5.1% year on year to ¥42,033 million, and business profit increasing 14.2% year on year to ¥2,886 million. Others This segment includes production and sale of clinical diagnostic reagents, hygiene inspection agents, and chemical products such as hyaluronic acid, as well as re al estate rental, logistics, back-office functions for the Kikkoman Group, and other businesses. Sales of clinical diagnostic reagents, hygiene inspection agents and hyaluronic acid increased year on year. Sales of logistics increased year on year. As a result, overall sales for the Domestic Others segment marked a year-on- year increase. As a result of the above, the Others segment recorded higher revenue and higher profit, with revenue increasing 10.5% year on year to ¥5,970 million, and business profit increasing 60.4% year on year to ¥768 million.
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Kik koman Corporation Flash Report for 1Q Fiscal 2027 8 【Overseas】 Revenue overseas was as follows. Foods—Manufacturing and Sales This segment comprises the Soy Sauce Division, Del Monte Division, and the Other Foods Division. The segment is engaged in manufacturing and sales of the above products overseas. Revenue for each division was as follows. ■ Soy Sauce Division In North America, the division developed business by leveraging the Kikkoman brand with a continued focus on enhancing its lineup of soy sauce-based seasonings a nd other products, on top of its mainstay soy sauce products in the home-use sector. In the industrial- and food service-use sectors, the division has expanded its busi ness by meticulously responding to the needs of our customers. As a result, overall sales in the region marked a year-on-year increase. In Europe, sales increased year on year in key markets such as Italy, the Netherlands, and Spain. As a result, overall sales in the region also marked a year-on-year increase. In Asia and Oceania, overall sales increased year on year, reflecting sales growth in markets such as Thailand, Malaysia, and Chin a. ■Del Monte Division This division manufactures and sells canned fruits, canned corn, tomato ketchup and other products in the Asia and Oceania region. Overall sales for the Del Monte Division marked a year-on-year decrease. As a result of the above, the Foods—Manufacturing and Sales segment recorded higher revenue and high er pro fit, with revenue increasing 14.8% year on year to ¥48,231 million, and business profit increasing 16.1% y ear on year to ¥12,810 million. Foods—Wholesale This segment procures and sells Asian foods in Japan and overseas. Sales grew steadily in North America, Europe, Asia and Oceania. As a result, overall sales for the Overseas Foods—W holesale segment marked a year-on-year increase. As a result of the above, the Foods—Wholesale segment recorded higher revenue and higher profit, with revenue increasing 18.1% year on year to ¥117,119 million, and business profit increasing 46.8% year on year to ¥9,395 million. As a result of the aforementioned segment results, the Company reported consolidated revenue for the first three months of fiscal 2027 of ¥202,032 million increasing 15.0% year on year business profit of ¥25,256 million increasing 29.3%, operating profit of ¥24,627 million increasing 29.0%, and profit attributable to owners of the parent of ¥19,017 million increasing 24.3%.
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 9 (2) Explanation of financial position (Assets) Current assets as of June 30, 2026, were ¥343,194 m illion, down ¥5,705 million from March 31, 2026. This was mainly due to a decrease in cash and cash equiva lents. Non-current assets were ¥413,314 million, up ¥10,553 million from March 31, 2026. This was largely attributable to an increase in property, plant and equipment. As a result, total assets increased ¥4,848 million from March 31, 2026, to ¥756,508 million. (Liabilities) Current liabilities as of June 30, 2026, were ¥96,284 million, down ¥9,727 million from March 31, 2026. This was mainly due to decreases in trade and other payabl es and other current liabilities. Non-current liabilities were ¥77,947 million, up ¥1,140 million from March 31, 2026. This was largely due to increases in long-term lease liabilities and deferred tax liabilities. As a result, total liabilities decreased ¥8,586 million from March 31, 2026, to ¥174,231 million. (Equity) Equity as of June 30, 2026, was ¥582,277 million, up ¥13,435 million from March 31, 2026. This was largely attributable to an increase in retained earnings as we ll as an increase in other co mponents of equity mainly resulting from an increase in exchange differences on translation of foreign operations, which resulted from the weaker yen. As a result, the ratio of equity attributable to owners of the parent to total assets was 75.9% (74.6% on March 31, 2026). (3) Explanation of forward-looking statem ents, including forecasts of consolidated business performance There are no changes to the full year forecasts of business performance that were announced in the Flash Report published on April 24, 2026. There are no significant changes to business risks that might affect business performance from the disclosures in the latest Annual Securities Report (submitted on June 19, 2026).
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 10 2. Condensed Quarterly Consolidated Financial Statements and Main Notes (1) Condensed Quarterly Consolidated Statement of Financial Position (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Current assets: Cash and cash equivalents 111,770 93,230 Trade and other receivables 90,640 93,583 Inventories 110,358 116,346 Other financial assets 23,172 27,734 Other current assets 12,958 12,299 Total current assets 348,900 343,194 Non-current assets: Property, plant and equipment 242,056 250,652 Investment properties 9,485 9,800 Right-of-use assets 38,349 38,593 Goodwill 3,261 3,258 Intangible assets 7,626 7,789 Investments accounted for using the equity method 7,367 8,266 Other financial assets 80,628 80,497 Employee defined benefit assets 10,429 10,666 Deferred tax assets 3,376 3,600 Other non-current assets 177 189 Total non-current assets 402,760 413,314 Total assets 751,660 756,508
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 11 (Millions of yen) As of March 31, 2026 As of June 30, 2026 Liabilities Current liabilities: Trade and other payables 72,002 66,297 Short-term borrowings and current portion of long-term borrowings 4,217 4,003 Short-term lease liabilities 8,282 8,301 Income tax payable 5,886 6,267 Other financial liabilities 557 2,469 Other current liabilities 15,064 8,945 Total current liabilities 106,011 96,284 Non-current liabilities: Long-term borrowings 14,000 14,000 Long-term lease liabilities 34,930 35,284 Deferred tax liabilities 15,891 16,558 Employee defined benefit liabilities 3,464 3,509 Other financial liabilities 4,023 4,041 Other non-current liabilities 4,497 4,554 Total non-current liabilities 76,807 77,947 Total liabilities 182,818 174,231 Equity Equity: Share capital 11,599 11,599 Capital surplus 14,195 14,303 Retained earnings 450,328 456,070 Treasury stock (52,710) (52,702) Other components of equity 137,512 144,963 Total equity attributable to owners of the parent 560,924 574,233 Non-controlling interests 7,917 8,043 Total equity 568,841 582,277 Total liabilities and equity 751,660 756,508
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 12 (2) Condensed Quarterly Consolidated Statements of Profit or Loss and Condensed Quarterly Consolidated Statements of Comprehensive Income (Condensed Quarterly Consolidated Statements of Profit or Loss) (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Revenue 175,660 202,032 Cost of sales 115,478 130,348 Gross profit 60,181 71,684 Selling, general and administrative expenses 40,649 46,428 Business profit 19,532 25,256 Other income 681 669 Other expenses 1,123 1,299 Operating profit 19,091 24,627 Finance income 3,595 2,689 Finance costs 1,722 1,287 Share of profit (loss) of investments accounted for using the equity method 120 137 Profit before income taxes 21,084 26,166 Income taxes 5,623 6,946 Profit 15,461 19,220 Profit attributable to: Owners of the parent 15,293 19,017 Non-controlling interests 167 202 Profit 15,461 19,220 Basic earnings per share (yen) 16.24 20.53
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 13 (Condensed Quarterly Consolidated Statements of Comprehensive Income) (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Profit 15,461 19,220 Other comprehensive income (loss): Items that will not be reclassified to profit or loss Net change in fair value of financial assets measured at FVOCI 715 1,390 Remeasurements of defined benefit plans 129 - Share of other comprehensive income (loss) of investments accounted for using the equity metho d (47) 830 Items that are or may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations (6,459) 6,069 Cash flow hedges (19) 44 Other comprehensive income, net of taxes (5,682) 8,334 Total comprehensive income 9,778 27,554 Total comprehensive income attributable to: Owners of the parent 9,898 27,201 Non-controlling interests (119) 353
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 14 (3) Condensed Quarterly Consolidated Statements of Changes in Equity Three months ended June 30, 2025 (Millions of yen) Equity attributable to owners of the parent Share capital Capital surplus Retained earnings Treasury stock Other components of equity Exchange differences on translation of foreign operations Cash flow hedges Balance at beginning of the period 11,599 13,860 415,215 (31,808) 76,138 7 Profit 15,293 Other comprehensive income (loss) (6,172) (19) Total comprehensive income (loss) − − 15,293 − (6,172) (19) Purchase of treasury stock (3,209) Disposal of treasury stock Share-based payment transactions 86 21 Dividends (14,146) Transfer from other components of e quity to retained earnings 470 Transfer to non-financial assets 13 Total transactions with owners of t h e parent − 86 (13,676) (3,187) − 13 Balance at end of the period 11,599 13,946 416,832 (34,996) 69,965 1 Equity attributable to owners of the parent Non- controlling interests Total equity Other components of equity Total Net change in fair value of financial assets measured at FVOCI Remeasurements of defined benefit plans Total Balance at beginning of the period 23,527 − 99,672 508,539 7,510 516,049 Profit − 15,293 167 15,461 Other comprehensive income (loss) 682 114 (5,395) (5,395) (287) (5,682) Total comprehensive income (loss) 682 114 (5,395) 9,898 (119) 9,778 Purchase of treasury stock − (3,209) (3,209) Disposal of treasury stock − − − Share-based payment transactions − 107 107 Dividends − (14,146) (227) (14,374) Transfer from other components of e quity to retained earnings (355) (114) (470) − − Transfer to non-financial assets 13 13 13 Total transactions with owners of t h e p a r e n t (355) (114) (456) (17,235) (227) (17,462) Balance at end of the period 23,853 − 93,820 501,202 7,163 508,365
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 15 Three months ended June 30, 2026 (Millions of yen) Equity attributable to owners of the parent Share capital Capital surplus Retained earnings Treasury stock Other components of equity Exchange differences on translation of foreign operations Cash flow hedges Balance at beginning of the period 11,599 14,195 450,328 (52,710) 108,126 56 Profit 19,017 Other comprehensive income (loss) 5,916 44 Total comprehensive income (loss) − − 19,017 − 5,916 44 Purchase of treasury stock (0) Disposal of treasury stock 0 0 Share-based payment transactions 108 8 Dividends (13,916) Transfer from other components of e quity to retained earnings 640 Transfer to non-financial assets (91) Total transactions with owners of t h e parent − 108 (13,275) 8 − (91) Balance at end of the period 11,599 14,303 456,070 (52,702) 114,043 8 Equity attributable to owners of the parent Non- controlling interests Total equity Other components of equity Total Net change in fair value of financial assets measured at FVOCI Remeasurements of defined benefit plans Total Balance at beginning of the period 29,328 − 137,512 560,924 7,917 568,841 Profit − 19,017 202 19,220 Other comprehensive income (loss) 2,120 102 8,183 8,183 150 8,334 Total comprehensive income (loss) 2,120 102 8,183 27,201 353 27,554 Purchase of treasury stock − (0) (0) Disposal of treasury stock − 0 0 Share-based payment transactions − 116 116 Dividends − (13,916) (227) (14,143) Transfer from other components of e quity to retained earnings (538) (102) (640) − − Transfer to non-financial assets (91) (91) (91) Total transactions with owners of t h e parent (538) (102) (732) (13,891) (227) (14,119) Balance at end of the period 30,911 − 144,963 574,233 8,043 582,277
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Kikkoman Corporation Flash Report for 1Q Fiscal 2027 16 (4) Notes on Condensed Quarterly Consolidated Financial Statements (Going Concern Assumption) No applicable items. (Notes on Quarterly Consolidated Statements of Cash Flows) Condensed quarterly consolidated statements of cash flows for the period under review have not been prepared. Depreciation and amortization for the first three months of fiscal 2026 and 2027 are as follows. (Millions of yen) Three Months ended June 30,2025 Three Months ended June 30,2026 Depreciation and amortization 6,446 7,278 (Segment Information) (a) Overview of reportable segments The Group’s reportable segments are components of the Group for which separate financial information is available. The Group’s Board of Directors uses these operating segments periodically to make decisions on the allocation of management resources and to evaluate business performance. The Company, as a holding company, mainly formulates Group strategies and manages operating companies. Under this structure, Japanese companies are categorized into companies that primarily engage in the manufacturing and sale of foods and others. Overseas business is operated by the holding company's overseas business divisions, and the operating companies are categorized into companies that engage in foods manufacturing and sale and companies that engage in wholesale of Asian food products. Accordingly, the Group consists of four reportable segments that are a matrix of domestic and overseas regions and types of business: "Domestic Foods—Manufacturing and Sales," "Domestic Others," "Overseas Foods—Manufacturing and Sale s" and "Overseas Foods—Wholesale." The Domestic Foods—Manufacturing and Sales segment engages in the manufacturing and sale of soy sauce, food products, beverages, liquor and wine in Japan. The Domestic Others segment engages in the manufacturing and sale of pharmaceuticals and chemical products and in real estate rentals, logistics, back-office functions and other businesses in Japan. The Overseas Foods—Manufacturing and Sales segment engages in the manufacturing, sale and exporting of soy sauce, Del Monte products and other foods and in the export and sale of products for overseas markets. The Overseas Foods—Wholesale segment purchases and sells Asian foods in domestic and overseas markets. (b) Information about reportable segments Segment profit (loss) represents Business profit, which is the amount obtained by deducting cost of sales and selling, general and administrative expenses from revenue. Inter-segment revenue and transfers are determined based on prevailing market prices.
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Kik koman Corporation Flash Report for 1Q Fiscal 2027 17 (c) Information about revenue and p rofit or loss by reportable segment is set out below: Three months ended June 30, 2025 Domestic Foods— Manufacturing and Sales Domestic Others Overseas Foods— Manufacturing and Sales Overseas Foods— Wholesale Total Ad justments Consolidate d ( Millions of yen) Revenue External revenue 38,795 1,835 35,894 99,135 175,660 ― 175,660 Inter-segment revenue 1,195 3,564 6,102 33 10,895 (10,895) ― Total 39,990 5,400 41,996 99,168 186,555 (10,895) 175,660 Segment profit (loss) 2,527 478 11,030 6,400 20,436 (903 ) 19,532 Other income ― ― ― ― ― ― 681 Other expenses ― ― ― ― ― ― 1,123 Finance income ― ― ― ― ― ― 3,595 Finance costs ― ― ― ― ― ― 1,722 Share of profit (loss) of investments accounted for usin g the equity method ― ― ― ― ― ― 120 Profit before income taxes ― ― ― ― ― ― 21,084 (Not e) Adjustment of segment profit is mainly due to the difference in allocation of corporate expenses. Three months ended June 30, 2026 Domes tic Foods— Manufacturing and Sales Domestic Others Overseas Foods— Manufacturing and Sales Overseas Foods— Wholesale Total Adjustments Consolidated (M illions of yen) Revenue External revenue 40,812 2,245 41,889 117,085 202,032 ― 202,032 Inter-segment revenue 1,221 3,724 6,341 34 11,322 (11,322) ― Total 42,033 5,970 48,231 117,119 213,355 (11,322) 202,032 Segment profit (loss) 2,886 768 12,810 9,395 25,861 (6 04) 25,256 Other income ― ― ― ― ― ― 669 Other expenses ― ― ― ― ― ― 1,299 Finance income ― ― ― ― ― ― 2,689 Finance costs ― ― ― ― ― ― 1,287 Share of profit (loss) of investments accounted for using the equity method ― ― ― ― ― ― 137 Profit before income taxes ― ― ― ― ― ― 26,166 (No te) Adjustment of segment profit is mainly due to the difference in allocation of corporate expenses.
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Supplementary Schedules Consolidated Financial Results for Q1 FY2027 Three-Month period ended June 30, 2026 IFRS Kikkoman Corporation
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Index page 1 II. Business performance 1. Exchange rates 2 2. Consolidated business performance 3 3. Consolidated business performance in Japan 4 4. Consolidated business performance overseas 5 5. Other income (expenses) and finance income (costs) 6 6. Consolidated statement of financial position 7 I. Major consolidated performance indicators Forecasts throughout this document were based on the economic environment as of the time they were prepared. Kikkoman therefore wishes to caution readers that actual results may differ materially from forecasts due to a number of unpredictable factors.
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Consolidated Results FY3/2023 Actual FY3/2024 Actual FY3/2025 Actual FY3/2026 Actual FY3/2027 Forecast Revenue millions of yen 618,899 660,835 708,979 745,539 799,100 YoY change % 19.8 6.8 7.3 5.2 7.2 Business profit millions of yen 58,777 73,402 77,275 79,512 82,300 (Business profit ratio) % 9.5 11.1 10.9 10.7 10.3 YoY change % 12.4 24.9 5.3 2.9 3.5 Operating profit millions of yen 55,370 66,733 73,698 75,940 78,800 (Operating profit ratio) % 8.9 10.1 10.4 10.2 9.9 YoY change % 9.2 20.5 10.4 3.0 3.8 Profit before income taxes millions of yen 60,797 75,605 83,754 84,069 84,400 (Profit before income tax ratio) % 9.8 11.4 11.8 11.3 10.6 YoY change % 12.1 24.4 10.8 0.4 0.4 Profit attributable to owners of the parent millions of yen 43,733 56,441 61,695 61,615 61,300 (Ratio of profit attributable to owners of the parent to revenue) % 7.1 8.5 8.7 8.3 7.7 YoY change % 12.4 29.1 9.3 (0.1) (0.5) Comprehensive income attributable to owners of the parent millions of yen 66,665 106,304 55,170 96,559 - Basic earnings per share yen 45.67 59.19 64.99 65.99 66.16 Diluted earnings per share ye n ----- Cash dividends per share yen 78.00 104.00 25.00 25.00 25.00 Dividend payout ratio (consolidated) % 34.2 35.1 38.5 37.9 37.8 Total equity millions of yen 416,969 498,255 516,049 568,841 - Equity attributable to owners of the parent millions of yen 410,513 491,355 508,539 560,924 - Equity attributable to owners of the parent per share yen 428.78 516.42 539.54 605.40 - Total assets millions of yen 566,385 667,877 679,414 751,660 - Ratio of equity attributable to owners of the parent to total assets % 72.5 73.6 74.8 74.6 - D/E ratio % 13.2 12.8 12.2 11.5 - Ratio of dividend to equity attributable to owners of the parent (consolidated) % 3.9 4.4 4.7 4.4 - ROE attributable to owners of the parent % 11.4 12.5 12.3 11.5 - Ratio of profit before income taxes to total assets % 11.4 12.3 12.4 11.7 - Return on invested capital (ROIC) % 10.2 11.2 11.1 10.5 - Weighted average cost of capital (WACC) % 6.3 6.8 7.1 6.5 - Share price at end of period (before split) yen 6,740 9,845 - - - Share price at end of period (after split) yen 1,348 1,969 1,441 1,435 - PER times 29.5 33.3 22.2 21.7 - Cash flows from o perating activities millions of yen 59,197 80,807 73,978 90,508 - Cash flows from investing activities millions of yen (26,620) (42,994) (38,456) (43,245) - Cash flows from financing activities millions of yen (20,379) (31,418) (46,086) (53,088) - Cash and cash equivalents at end of period millions of yen 99,347 119,159 106,184 111,770 - Free cash flows millions of yen 32,755 49,838 33,367 31,023 - Free cash flows per share yen 34.21 52.27 35.15 33.23 - Interest-bearing debt millions of yen 54,145 63,101 62,246 64,647 - Capital expenditures millions of yen 38,228 43,501 46,835 70,910 60,700 Depreciation and amortization millions of yen 22,252 24,020 26,917 26,746 31,400 R&D costs millions of yen 5,174 5,067 5,362 5,236 - Net financial income (loss) millions of yen 1,704 3,619 4,759 2,799 - Average term exchange rate yen/USD 134.95 144.40 152.48 150.97 155.00 Number of employees people 7,775 7,521 7,716 7,911 - Average number of temporary workers people 612 568 515 482 - Shares issued and outstanding at end of period (before split) thousand 191,477 190,293 - - - Shares issued and outstanding at end of period (after split) thousand 957,386 951,467 942,534 926,539 - (Notes) 1. Revenue does not include consumption and other taxes. 10. The weighted average cost of capital (WACC) is the capital structure weighted average of cost of debt and cost of equity, which is the risk-free rate plus the product of β and the market risk premium. * The risk-free rate is the average rate for the most recent one year of 10-year JGBs. * β, or the beta coefficient, is a 5-year weekly beta of Kikkoman Corporation. * The market risk premium is set at 6% based on the deviation between the risk-free rate and the average total return of the stock market over the past years. 11. Effective on April 1, 2024, the Company conducted a 5-for-1 stock split for its common stock. To reflect this transaction, basic earnings p e share, equity attributable to owners of the parent per share, and free cash flow per share are calculated as if the stock split had been conducted at the beginning of Fiscal 2023. For the share price at the end of period and the number of shares issued at the end of period, the figures calculated as if the stock split had been conducted at the beginning of Fiscal 2023 and those before the stock split are both presented. For annual dividends per share, the figures for the fiscal year ended March 31, 2024 and before represent the actual dividends paid before the stock split. 9. Return on invested capital (ROIC) = Profit before interest after tax / (Average of interest-bearing debt at beginning and end of the period + Average of total equity at beginning and end of the period) I. Major consolidated performance indicators 3. Interest-bearing debt refers to all liabilities on the consolidated statement of financial position on which interest is paid. 4. Net financial income(loss) = Interest and dividend income - Interest expense 5. Equity attributable to owners of the parent = Total equity - Share acquisition rights - Non-controlling interest 6. D/E ratio = Interest-bearing debt/Equity attributable to owners of the parent 7. Shares issued and outstanding at end of period is computed, excluding treasury stock. 2. Free cash flows = Cash flows from operating activities - Cash used for the acquisition of property, plant and equipment and intangible assets 0. + Cash provided from the sale of property, plant and equipment and intangible assets 8. Business profit = Revenue - Cost of sales - Selling, general and administrative expenses sup. 1
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II. Business performance 1. Exchange rates Exchange Rates Current year actual Previous year actual Chan ge increase (decrease) Period average End of period Period average End of period Apr 1, 2026 –Jun 30, 2026 Jun 30, 2026 Apr 1, 2025 –Jun 30, 2025 Mar 31, 2026 USD 160.51 162.39 145.19 159.88 15.32 110.6 2.51 101.6 EUR 185.45 185.35 164.37 183.41 21.08 112.8 1.94 101.1 S$ 124.86 125.53 111.42 123.74 13.44 112.1 1.79 101.4 A$ 112.41 111.56 93.00 109.68 19.41 120.9 1.88 101.7 %% End of period Period average sup. 2
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2. Consolidated business performance Revenue Millions of yen Japan So y Sauce 11,359 11,223 135 101.2 135 101.2 Food Products 14,177 13,992 184 101.3 184 101.3 9,509 9,409 99 101.1 99 101.1 Beverages 14,024 12,299 1,725 114.0 1,725 114.0 10,341 9,113 1,228 113.5 1,228 113.5 Liquor and Wine 2,533 2,534 (1) 100.0 (1) 100.0 Eliminations (60) (58) (1) - (1) - Foods—Manufacturin g and Sales 42,033 39,990 2,042 105.1 2,042 105.1 Others 5,970 5,400 569 110.5 569 110.5 Eliminations (3,222) (3,063) (159) - (159) - Total 44,780 42,327 2,453 105.8 2,453 105.8 Overseas So y Sauce 45,711 39,436 6,275 115.9 1,888 104.8 Del Monte 2,205 2,310 (105) 95.4 (300) 87.0 Other Foods 314 249 64 125.9 34 113.9 Foods—Manufacturin g and Sales 48,231 41,996 6,235 114.8 1,622 103.9 Foods—Wholesale 117,119 99,168 17,951 118.1 6,094 106.1 Eliminations (6,211) (5,959) (252) - 357 - Total 159,139 135,204 23,934 117.7 8,075 106.0 Kikkoman (Holding Company) 10,486 8,361 2,125 125.4 2,125 125.4 Eliminations (12,373) (10,233) (2,140) - (2,123) - Consolidated Total 202,032 175,660 26,372 115.0 10,530 106.0 Business profit Japan Foods—Manufacturing and Sales 2,886 2,527 359 114.2 359 114.2 Others 768 478 289 160.4 289 160.4 Total 3,660 3,011 649 121.6 649 121.6 Overseas Foods—Manufacturing and Sales 12,810 11,030 1,780 116.1 569 105.2 Foods—Wholesale 9,395 6,400 2,994 146.8 2,166 133.8 Total 22,140 17,318 4,821 127.8 2,800 116.2 Kikkoman (Holding Company) 6,179 4,134 2,045 149.5 2,045 149.5 Eliminations (6,724) (4,931) (1,792) - (1,947) - Consolidated Total 25,256 19,532 5,723 129.3 3,548 118.2 Operating profit 24,627 19,091 5,536 129.0 3,492 118.3 Profit before income taxes 26,166 21,084 5,082 124.1 2,946 114.0 19,017 15,293 3,723 124.3 2,147 114.0Profit attributable to owners of the parent % %% Q1 FY3/27 Actual Q1 FY3/27 Actual YoY YoY Q1 FY3/26 Actual % Q1 FY3/26 Actual YoY excl. FX impact Portion accounted for by so y sauce derivative products Portion accounted for by soy milk beverages YoY excl. FX impact sup. 3
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3. Consolidated business performance in Japan Revenue Millions of yen Japan Soy Sauce 11,359 11,223 135 101.2 135 101.2 Food Products 14,177 13,992 184 101.3 184 101.3 9,509 9,409 99 101.1 99 101.1 Beverages 14,024 12,299 1,725 114.0 1,725 114.0 10,341 9,113 1,228 113.5 1,228 113.5 Liquor and Wine 2,533 2,534 (1) 100.0 (1) 100.0 Eliminations (60) (58) (1) - (1) - Foods—Manufacturin g and Sales 42,033 39,990 2,042 105.1 2,042 105.1 Others 5,970 5,400 569 110.5 569 110.5 Eliminations (3,222) (3,063) (159) - (159) - 44,780 42,327 2,453 105.8 2,453 105.8 Business profit Japan Foods—Manufacturin g and Sales 2,886 2,527 359 114.2 359 114.2 Others 768 478 289 160.4 289 160.4 3,660 3,011 649 121.6 649 121.6 Analysis of cause Main factors that contributed to an increase(decrease) in business profit (Unit: billions of yen) % YoY excl. FX impact % Total Portion accounted for by soy sauce derivative products Portion accounted for by soy milk beverages Total Q1 FY3/27 Actual Q1 FY3/26 Actual YoY % Q1 FY3/27 Actual Q1 FY3/26 Actual YoY % YoY excl. FX impact 3.0 Japan +0.7 billion 1.2 (0.3) 0.3 3.7 Q1 FY2026 Impact of difference in revenue and structual strengthening Impact of raw materials, etc. Impact of advertising Impact of depreciation and amortization Impact of other fixed expenses, etc. Q1 FY2027 (0.4) (0.1) sup. 4
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4. Consolidated business performance overseas Revenue Millions of yen Overseas Soy Sauce 27,941 23,924 4,016 116.8 1,349 105.6 Other Foods 314 249 64 125.9 34 113.9 Foods—Manufacturing and Sales 28,255 24,174 4,081 116.9 1,384 105.7 Foods—Wholesale 86,107 72,876 13,231 118.2 5,008 106.9 Eliminations (4,041) (3,956) (84) - 301 - 110,322 93,093 17,228 118.5 6,694 107.2 Europe Foods—Manufacturing and Sales 10,412 8,891 1,520 117.1 337 103.8 Foods—Wholesale 13,490 11,146 2,344 121.0 853 107.7 Eliminations (1,733) (1,614) (119) - 77 - 22,169 18,423 3,745 120.3 1,268 106.9 Soy Sauce 6,842 6,288 553 108.8 (26) 99.6 Del Monte 2,205 2,310 (105) 95.4 (300) 87.0 Foods—Manufacturing and Sales 9,047 8,599 448 105.2 (327) 96.2 Foods—Wholesale 15,872 13,509 2,362 117.5 160 101.2 Eliminations (181) (133) (47) - (20) - 24,738 21,974 2,763 112.6 (187) 99.1 Others 21,509 18,954 2,555 113.5 2,555 113.5 Eliminations (19,600) (17,241) (2,359) - (2,254) - 159,139 135,204 23,934 117.7 8,075 106.0 Business profit Overseas Foods—Manufacturing and Sales 8,095 7,266 829 111.4 93 101.3 Foods—Wholesale 7,882 5,606 2,276 140.6 1,523 127.2 15,952 12,801 3,150 124.6 1,681 113.1 Europe Foods—Manufacturing and Sales 3,345 2,612 732 128.0 342 113.1 Foods—Wholesale 423 103 320 411.3 267 359.5 3,736 2,674 1,061 139.7 616 123.0 Foods—Manufacturing and Sales 1,158 1,044 114 111.0 20 102.0 Foods—Wholesale 504 275 229 183.5 155 156.4 1,653 1,324 329 124.9 162 112.3 Others 964 926 37 104.1 37 104.1 22,140 17,318 4,821 127.8 2,800 116.2 Analysis of cause Main factors that contributed to an increase(decrease) in business profit (Unit: billions of yen) Q1 FY3/27 Actual %YoY excl. FX impact%YoY Q1 FY3/26 Actual Total Total Total Total Asia & Oceania North America Asia & Oceania North America Total Total Total Total Q1 FY3/27 Actual Q1 FY3/26 Actual YoY % % YoY excl. FX impact 17.3Q1 FY2026 Impact of difference in revenue Impact of fixed manufacturing costs, etc. Impact of SG&A expenses Translation defferences 22.1Q1 FY2027 0 Overseas +4.8 billion (1.6) Impact of raw materials, etc. 4.7 (0.3) 2.0 sup. 5
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5. Other income(expenses) and finance income(costs) Consolidated Total Millions of yen Business profit 25,256 19,532 5,723 129.3 3,548 118.2 Gain on sale of non-current assets 92 13 79 695.3 78 691.4 Rental income 173 168 4 102.5 3 102.2 Royalty income 139 111 28 125.4 28 125.4 Foreign exchange gains 75 251 (176) 30.1 (37) 85.1 Other 189 136 52 138.8 39 129.1 Total of other income 669 681 (11) 98.3 112 116.5 Loss on sale and disposal of non-current assets 124 124 0 100.1 (0) 99.3 Impairment losses 0 2 (1) 30.4 (1) 28.3 Foreign exchange losses 296 256 40 115.9 75 129.7 Other 877 740 136 118.4 94 112.8 Total of other expenses 1,299 1,123 175 115.7 168 115.0 Total of other income and expenses (629) (441) (187) - (55) - Operating profit 24,627 19,091 5,536 129.0 3,492 118.3 Net financial income 1,044 1,203 (159) 86.8 (163) 86.4 Foreign exchange gains (losses) and gain (loss) on valuation of derivatives 417 639 (221) 65.3 (310) 51.4 Other (59) 30 (89) - (89) - Total of finance income and costs 1,401 1,873 (471) 74.8 (564) 69.9 137 120 17 114.6 17 114.6 Profit before income taxes 26,166 21,084 5,082 124.1 2,946 114.0 Income taxes 6,946 5,623 1,323 123.5 773 113.8 Profit 19,220 15,461 3,759 124.3 2,172 114.1 Profit attributable to non-controlling interests 202 167 35 121.0 24 114.8 19,017 15,293 3,723 124.3 2,147 114.0 % Profit attributable to owners of the parent Q1 FY3/27 Actual Q1 FY3/26 Actual YoY % YoY excl. FX impact Share of profit of associates accounted for using the equity method sup. 6
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6．Consolidated statement of financial position Jun. 30, 2026 Actual (compared with Mar. 31, 2026) Millions of yen Amount Composition ratio (%) Amount Excl. FX impact Change from previous year (%) I. Current assets 343,194 45.4 (5,705) (8,493) 97.6 Cash and cash equivalents 93,230 12.3 (18,539) (18,853) 83.1 Trade and other receivables 93,583 12.4 2,942 2,173 102.4 Inventories 116,346 15.4 5,988 4,790 104.3 Other financial assets 27,734 3.7 4,562 4,128 117.8 Other current assets 12,299 1.6 (659) (732) 94.3 II. Non-current assets 413,314 54.6 10,553 7,100 101.8 Property, plant and equipment 250,652 33.1 8,595 6,062 102.5 Investment properties 9,800 1.3 315 315 103.3 Right-of-use assets 38,593 5.1 243 (207) 99.5 Goodwill 3,258 0.4 (3) - 100.0 Intangible assets 7,789 1.0 163 119 101.6 8,266 1.1 899 899 112.2 Other financial assets 80,497 10.6 (131) (522) 99.4 Employee defined benefit assets 10,666 1.4 236 235 102.3 Deferred tax assets 3,600 0.5 223 187 105.5 Other non-current assets 189 0.0 11 10 106.0 756,508 100.0 4,848 (1,393) 99.8 I. C urrent liabilities 96,284 12.7 (9,727) (10,683) 89.9 Trade and other payables 66,297 8.8 (5,705) (6,299) 91.3 Short-term borrowings 4,003 0.5 (213) (214) 94.9 Short-term lease liabilities 8,301 1.1 18 (55) 99.3 Income tax payable 6,267 0.8 380 318 105.4 Other financial liabilities 2,469 0.3 1,911 1,911 442.5 Other current liabilities 8,945 1.2 (6,119) (6,343) 57.9 II. Non-current liabilities 77,947 10.3 1,140 582 100.8 Long-term borrowings 14,000 1.9 - - 100.0 Long-term lease liabilities 35,284 4.7 353 (73) 99.8 Deferred tax liabilities 16,558 2.2 666 574 103.6 Employee defined benefit liabilities 3,509 0.5 44 42 101.2 Other financial liabilities 4,041 0.5 18 17 100.4 Other non-current liabilities 4,554 0.6 56 21 100.5 174,231 23.0 (8,586) (10,100) 94.5 Total equity 582,277 77.0 13,435 8,707 101.5 574,233 75.9 13,309 8,592 101.5 Non-controlling interests 8,043 1.1 126 115 101.5 756,508 100.0 4,848 (1,393) 99.8 Change increase (decrease) Total liabilities and equity Jun. 30, 2026 Actual Investments in associates accounted for using the equity method Total equity attributable to owners of the parent Total liabilities Total assets sup. 7