2017
Contents 01 03 04 06 08 10 12 20 23 26 30 31 34 35 36 38 40 11 46 MD&A 48 50 56 57 ESG IIRC
01
Something New / Something Different SimpleClearSpeed 02 2017
2017100 35 03
1886 1970 1975 1894 10 1994 1969 1991 1966 1919 1886 04 2017
1993 2009 1995 2001 2000 1999 1999 2005 A 2015 2016 2017 Perfecta Products, Inc. 2012 2008 1997 2006 HeatMax, Inc. 1995 2 1 119956 22016129 2017 05
10 100 5 50% 5% 5 06 2017
KPI 4 10%25% 14% ROE 10% No.1 4 P.12 2017 07
19 155 14.6% 20 ROE 10.7% 60.9% 4 21.0% 08 2017
20171231 No.1 43 10 85 2017112 3.3 29 5.4% ESG 4 2017 09
101 6.5% 13 0.8% 1,234 78.8% 93.0% 229 217 13.9% 1,567 4.1% 3.3% 213 9 0.7 7 57.4 57.4 58.1 59.5 60.9 % 14.2 14.0 13.3 14.5 14.6 % 1,272 1,283 1,372 1,200 1,567 181 179 182 174 229 955 730 736 796 714 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 ROAROE % % 11.4 10.2 10.5 9.4 9.6 9.6 10.0 10.0 11.5 10.7 16.9 19.6 20.2 22.8 21.0 8.1 7.5 7.1 6.8 5.4 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 ROA ROE 4 10 2017
1 % % 10.5 9.9 11.7 6.1 6.7 7.0 134 78 126 85 159 96 14.2 14.3 170 6.8 7.1 81 223 111 4.1 3.9 4.2 3.4 49 28 52 30 57 34 41 29 72 4.6 2.2 2.3 2.5 2.5 1.9 33 123 124 134 143 158 150 152 165 179 201 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 1 1 29.5 28.6 29.0 29.0 28.8 % 74.2 74.8 75.1 71.2 70.3 % 9.8 11.9 13.8 12.2 12.1 % 43 45 48 52 58 2,012 1,863 1,889 1,709 1,396 1,420 1,433 1,269 2,188 1,538 125 153 189 176 217 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 1 CO2 t-co2 t-co2 33 39 0.137 0.133 0.129 0.122 0.199 24 18 24 15 25 14 22 12 16 25 28 31 29 16,890 17,545 17,749 14,296 18,654 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 2014/3 2015/3 2016/3 2016/12 2017/12 CO2 201612 2017 11
2017-2019 No.1 1 201912 201612 201612 1,650 1,448 114 230 184 124 2 170 150 113 ROE 2 10 10% 1 2016112 20161292016112 4 201912 201612 OTC 270 150 120 126 3 90 167 125 113 M&A OTC 3 OTC 2017-2019 300 4 OTC 2017-2019 30 2 12 2017
2017 13 20 19 21 PDCA 2
1020 20172019 2016 2007201610 2 8 10 22015 2016 2017 2019 4 4 4 14 4 201712 2016 112 201721 2017122017112 % % 1,448 1,500 1,567 108.3% 184 200 229 14.6% 124.3% 203 210 241 15.4% 118.8% 150 151 158 10.1% 105.6% 92016112 40 54 10 20 6 11 14 108.3% 14 2017
4 3 201612 201712 201912 177 217 44% 270 95 101 27% 120 54 60 17% 90 112 127 124% 125 2016112201912100% 2 3 3 Perfecta Products, Inc. MAX FREEZE ECCM OTC OTC 100 OTC OTC 20169Perfecta Products, Inc. 20186 OTC OTC 2016 2017 2 100 2017100 CM PDCA 2017 15
Union-Swiss (Pty) Ltd. True Nature 32 M&A2017 Union-Swiss (Pty) Ltd. 20187 True Nature 2019 1 2017 12 A M&A 4 OTC 2017 2016 OTC M&A OTC 3OTC 16 2017
32016 2019 4 8 72018 7 14M&A M&A M&A OTC 5300 PIC/S 2 2 3 PDCA 2017-2019 201611 M&A 2017-2019 300 30 OTC PICS 47 300 Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme 33 2017 17
3 3PDCA PDCA 4 10 1201712 201712 4 67 20 5.4% 4 4 2012315.4% 20171221.0% 2020 ESG ESG PDCA E 2011 CO2 18 2017
A S G2008 1ESG ESG A A CM 2017 19
Idea & Speed 01 21 105 50% 5% 3 1005 20 2017
02 03 20171233,769 11 85 2017 21
198235 2014 822 1995 1 04 22 2017
Human Resources Strategy 01 10 10 10 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 2017 23
02 K G 2 7 3 K2 K DNA K 24 2017
OJTOn the Job Training OJT OJT P.21 100 OJT P.22 03 20181 9.1 https://www.kobayashi.co.jp/contribution/employee/education.html 2017 25
Development Story 01 01 1969 1986 2001 1969 3 3 4 20 2001 452014 No.1 1 2013 130 2 1 Largest in-cistern device toilet care brand by annual revenue - current 2013112 2 201397.65 26 2017
02 02 2017 2007 1995 1 1995 23 2017 No.1 3 2016131 4 8 66 6210 CM 3 Largest liquid air freshener brand - retail RSP, current 2016112 4 2016106.79 2017 27
Development Story 03 03 2 20113 91 2 3 13/3 14/3 15/3 16/12 17/12 2011 2013 2050 33 6 230 20 50 28 2017
Saiki a 2 2 a 2 b 3 2015 2016 2017 CM T 2011 10 2017 29
Clearwipe 150 107.3% 119.1% 122.8% 302.4% 13.9% 1,234 217 78.8 201712 % 13.9 0.8 6.5 13 101 2 106.9% 30 2017
20172,8691 119% 20204,00020306,000 2016330 30 201712 2017 20192017 12201612 1,234107.3 213119.1 1,234 107.3% 201812 213 119.1% 2017 201922018 2016112 12 OTC OTC EX 2017 31
201712 2017112 2016112 % 581 534 47 108.7% 523 503 20 104.0% 2016112 581 4 201712581 108.7% 1 2 A 3 Z 523 201712523 104.0% Sawaday Stick 32 2017
201712 2017112 2016112 % 60 54 6 112.3% 69 58 11 118.6% 2016112 60 20171260 112.3%2 M&A EX M&A 69 20171269 118.6%201612 10 No.1 2017 33
No.1 201712 201612 201712217 122.89302.4% 5 12 EC 125 217 122.8% 9 302.4% 2016112 34 2017
5100 201712 201712 101106.9% 0.73 101 106.9% 2016112 0.7 201812 201812 100 WEB 2017 35
2001 12 PDCA Plan Do CheckAction CO2 CO2 36 2017
202012 202012 201712 201712 201712 202012 CO2 20053 16.0% 0.098t-CO2 2005327.5% 3,533t-CO2 20053 16.8% 0.097t-CO2 LED LED 28.8% 3,475t-CO2 2005320% 2005 0.162t-CO2 2020 0.129t-CO2 99.5% 98.7% 99.5% PRTR 100kg PRTR 100kg PRTR 100kg 202012 42 31 75 64 WPOWorld Packaging Organisation 2015 37264 2017 37
01 CSR NPO 1002017 201712 201711 29 14 20183 2010 34 201712 20 201712 100100 38 2017
02 60 2015 2017 39
83 2 1 1 40 2017
680 680 6 42 42 3 79 79 5 1 220156269791 32009626918 1 281 281 182 182 20171112 32 ESG https://www.kobayashi.co.jp/ir/report/cg/index.html 2017 41
2 http://www.kobayashi.co.jp/corporate/governance/policy/index.html e- 20117 20177 201712100e- 1 2 3 4 5 6 7 8 9 10 11 12 201712 2 IRIR 201712 20183 494 89.8 219 2 92 42 2017
2017 43 12 ESG IoT AIIT NO
20183 11 9 7 5 3 1 1 3 5 19623 19983 19793 196611 197011 197612 20046 20016 20046 20063 20093 20146 20166 2 19683 197612 20076 20093 20136 6 198212 198512 199212 19996 20046 20136 4 19833 20043 20066 19553 19866 19986 20086 20116 20166 44 2017
8 10 12 2 4 6 7 9 19924 19793 20028 20116 200412 200612 20076 10 20136 20151 CFO 19823 20173 4 8 19877 11 20056 20003 20166 12 20156 2017 45
11 2008.3 2009.3 2010.3 2011.3 228,826 125,693 129,184 130,824 147,638 57,013 57,295 56,184 81,187 68,679 71,888 74,640 62,611 52,861 54,847 56,019 18,576 15,818 17,041 18,620 15,687 15,333 17,071 19,010 15,800 16,270 14,553 13,178 8,504 8,853 9,249 9,335 12,192 12,849 15,319 13,168 1 5,767 11,467 10,618 4,789 2,489 2,873 2,996 2,932 2 2,895 3,468 3,562 2,346 2,813 3,361 3,962 4,069 66,069 73,172 85,208 88,837 56,340 52,037 46,763 45,518 37,940 39,834 39,024 34,525 7,286 9,011 8,344 8,488 77,182 76,364 84,603 91,342 122,409 125,210 131,972 134,356 3 28,129 33,338 46,184 54,312 726 644 1,708 25 1 4 102.81 107.95 112.94 113.99 27.00 29.00 31.00 33.00 % 26.3 26.9 27.4 28.9 5 143.4 151.1 180.2 154.9 931.62 930.57 1,030.90 1,113.21 % 35.5 54.6 55.6 57.1 8.1 12.6 13.2 14.2 6.9 12.2 13.2 14.5 3.7 7.0 7.2 7.1 174.1 183.7 218.3 257.3 ROA) 10.9 12.4 13.3 14.3 ROE) 11.2 11.5 11.5 10.6 63.0 60.9 64.0 67.9 6 0.01 0.01 0.02 0.0003 PER 7 18.7 15.1 17.0 16.9 1 + 2 + 3 4 5 6 7 1 46 2017
2012.3 2013.3 2014.3 2015.3 2016.3 2016.12 2017.12 20163311231 131,166 121,532 127,293 128,344 137,211 120,051 156,761 54,635 51,732 54,193 54,718 57,518 48,638 61,238 76,531 69,799 73,099 73,626 79,693 71,412 95,522 57,233 52,895 54,977 55,708 61,432 54,003 72,596 19,298 16,903 18,122 17,917 18,260 17,409 22,925 20,092 18,677 18,769 18,843 17,949 19,499 24,191 19,822 18,853 19,666 20,056 18,755 19,802 22,572 11,726 12,176 12,307 12,448 13,466 14,321 15,863 17,250 9,242 13,513 15,445 14,329 16,097 22,350 14,320 17,362 6,553 10,904 3,396 15,577 29,390 2,727 2,622 2,677 2,641 2,587 2,112 2,926 2,212 3,173 4,003 3,655 4,317 6,269 3,360 4,385 4,544 4,930 5,289 5,788 4,121 7,239 102,538 94,353 105,614 115,990 120,347 128,646 142,346 45,352 62,753 65,304 70,340 68,650 72,587 76,484 37,791 34,477 34,216 35,890 36,481 46,975 54,274 8,220 7,757 9,749 10,829 10,492 10,938 10,744 101,879 114,872 126,953 139,611 142,023 143,320 153,811 147,890 157,106 170,919 186,331 188,997 201,234 218,831 64,747 59,876 71,398 80,100 83,865 81,670 88,072 5 4 6 40 181 192 194 143.18 148.69 150.28 152.73 165.56 179.12 201.31 39.00 41.00 43.00 45.00 48.00 52.00 58.00 27.2 27.6 28.6 29.5 29.0 29.0 28.8 202.9 108.7 158.9 181.6 168.5 189.3 272.4 1,242.04 1,402.64 1,549.16 1,711.77 1,766.06 1,818.10 1,947.82 % 58.3 57.4 57.4 57.4 58.1 59.5 60.9 14.7 13.9 14.2 14.0 13.3 14.5 14.6 15.3 15.4 14.7 14.7 13.1 16.2 15.4 8.9 10.0 9.7 9.7 9.8 11.9 10.1 271.3 273.7 308.7 323.2 329.9 273.9 262.3 14.2 12.2 11.4 10.5 9.6 10.0 11.5 12.2 11.2 10.2 9.4 9.6 10.0 10.7 68.8 73.1 74.2 74.8 75.1 71.2 70.3 0.00005 0.00004 0.00005 0.00029 0.00127 0.00134 0.00126 14.5 15.3 19.8 28.2 29.8 27.9 36.4 201612201641201612319 2017 47
MD&A 29 EC 1,567 108.3 4 201712126 955 60.9% 223 0.114.3% 111 0.37.1% 725 229 124.3 0.114.6% 1 17 225 158 105.620 1 2219 20131 Sawaday Stick EX 1118 A 1,298213 208 63 4201712 29 1.45.4 41.8 21.0% 2016112 48 2017
228 89 10 101 0.70.7 65 307 52 2017/12 2016112 % 1. 1,234 1,150 107.3 63 1,298 2. 217 177 122.8 10 228 3. 101 95 106.9 4. 13 52 65 2017/12 2017112 2016112 % 1. 213 164 119.1 2. 9 7 302.4 3. 0.7 3 4. 7 3 2016112 2017 49
201612 20161231 201712 20171231 58,173 64,990 47,045 50,032 5,500 8,300 9,222 9,789 751 693 2,832 2,807 2,899 3,221 2,267 2,547 45 34 128,646 142,346 8,377 8,212 3,478 3,985 1,407 1,337 3,552 3,576 628 573 388 562 17,833 18,247 4,729 2,626 480 410 962 906 1,051 855 7,223 4,798 40,281 46,797 171 261 383 539 2,967 2,981 3,991 3,243 265 384 47,529 53,438 72,587 76,484 201,234 218,831 2016129 50 2017
201612 20161231 201712 20171231 8,169 8,279 7,849 9,221 192 194 20,191 24,446 56 55 3,357 4,654 1,090 1,245 1,409 1,793 1,147 2,250 37 38 3,472 2,095 46,975 54,274 581 527 3,841 5,224 4,337 2,805 33 37 80 81 2,063 2,068 10,938 10,744 57,914 65,019 3,450 3,450 4,958 4,183 147,901 146,758 21,088 12,259 135,221 142,132 9,481 13,267 40 9 680 403 2,171 2,038 8,031 11,642 67 36 143,320 153,811 201,234 218,831 2017 51
2016129 201612 2016 4 1 20161231 201712 2017 1 1 20171231 120,051 156,761 48,638 61,238 71,412 95,522 8,159 11,106 4,521 5,871 17,049 22,361 31 27 8,018 10,096 544 812 2 9 453 601 525 741 513 593 1,129 1,461 4,069 5,504 4,121 7,239 4,863 6,168 54,003 72,596 17,409 22,925 184 273 355 384 221 296 50 1,900 1,500 234 269 2,946 2,724 21 38 583 750 59 78 210 86 118 105 261 855 1,458 19,499 24,191 4 0 1,795 3 7 98 0 3 1,807 105 118 96 1,342 1,544 9 35 84 1,505 1,724 19,802 22,572 5,223 7,601 321 892 5,544 6,709 14,257 15,863 64 14,321 15,863 52 2017
201612 2016 4 1 20161231 201712 2017 1 1 20171231 14,257 15,863 620 3,786 78 31 998 277 843 133 1,142 3,611 13,114 19,474 () 13,189 19,474 75 2016129 2017 53
201612 20164 20161231 3,450 4,953 137,486 13,179 132,710 3,925 3,925 14,321 14,321 18 18 8,003 8,003 5 94 99 5 10,414 7,908 2,511 3,450 4,958 147,901 21,088 135,221 8,860 38 1,668 1,327 9,163 75 75 142,023 3,925 14,321 18 8,003 99 620 78 987 843 1,131 7 75 1,214 620 78 987 843 1,131 7 75 1,296 9,481 40 680 2,171 8,031 67 143,320 201712 20171 20171231 3,450 4,958 147,901 21,088 135,221 4,336 4,336 15,863 15,863 4,999 4,999 3,335 3,718 383 10,110 10,110 12,670 12,670 775 1,143 8,828 6,910 3,450 4,183 146,758 12,259 142,132 2016129 9,481 40 680 2,171 8,031 67 143,320 4,336 15,863 4,999 383 3,786 31 277 133 3,611 30 3,580 3,786 31 277 133 3,611 30 10,491 13,267 9 403 2,038 11,642 36 153,811 54 2017
201612 2016 4 1 20161231 201712 2017 1 1 20171231 19,802 22,572 2,112 2,926 1,342 1,544 513 593 102 106 1,582 1,743 539 657 21 38 7 1,795 3 113 96 11,045 2,969 1,147 526 2,327 1,500 5,955 4,057 346 142 481 312 19,294 27,990 528 675 21 27 3,703 6,287 16,097 22,350 63,870 52,455 69,021 63,220 2,850 2,841 6 3 635 364 18 1,064 315 715 63 132 96 49 2 49 73 89 1 1 19 2,469 0 50 519 7,039 11 47 8,054 5,068 91 352 3,919 4,343 52 56 11,922 9,162 760 137 2,894 20,365 25,428 28,322 0 28,322 48,688 2016129 2017 55
1886 1894 10 1912 1919 1939 1940 1948 1956 1958 1966 1969 1972 C.R.Bard, Inc. 1975 1976 C.R.Bard, Inc. 1983 1988 1992 1993 1996 1998 KOBAYASHI Healthcare, Inc. 1999 2000 2001 KOBAYASHI Healthcare Europe, Ltd. 2002 2002 2003 2004 2005 A 2006 event Medical Ltd. Heat Max, Inc. 2008 2009 KOBAYASHI Pharmaceutical SingaporePte. Ltd. 2010 2011 MBOeVent Medical, Ltd. KOBAYASHI Healthcare Mala ysiasdn. Bhd. 2012 Grabber, Inc. PT. Kobayashi Pharmaceutical Indonesia 80% 2013 Kobayashi Healthcare Australia Pty., Ltd. Kobayashi Healthcare ThailandCo., Ltd. 2015 Bard International Inc. 2016 Perfecta Products, Inc. 2017 Union-Swiss (Pty) Ltd. 56 2017
20171231 19198822 4-4-10 KDX 3,0331,267 3818 20 345,000 340,200,000 82,050,000 15,863 UFJ 11.3 7.3 6.3 505223 6.1 3.0 2.9 2.7 2.7 2.5 2.5 40.2% 3.8% 1.2% 82,050,000 13.0% 21.2% 3.4% 17.2% 2017 57
541-0045 4-4-10 KDX TEL 06-6222-0142 FAX 06-6222-4261 URL https://www.kobayashi.co.jp