27
CORPORATE PHILOSOPHY THE MEIJI DAIRIES GROUP CONTRIBUTES TO A HEALTHY AND HAPPY DAILY LIFE FOR OUR CUSTOMERS BY OFFERING NEW LEVELS OF VALUE IN FOOD. CONTENTS 2 4 6 1 1 11 12 13 14 16 18 19 2 22 23 24 26 28 3 31 56
PROFILE 1917
FINANCIAL HIGHLIGHTS 1 2 24 24.4.1~25.3.31 25 25.4.1~26.3.31 26 26.4.1~27.3.31 26 26.4.1~27.3.31... 725,24... 522,97... 182,637... 19,415 3... 19,81... 9,722 71,98 515,712 175,25 19,989 2,179 1,55 72,75 52,635 176,517 23,597 23,421 13,78 $5,95,973 4,256,38 1,494,77 199,822 198,338 116,87... 357,592 4... 1,26 5... 128,93 361,134 112,695 116,475 383,56 146,44 86,286 $3,248,36 1,236,724 73,687... 32.73 4... 337.86... 6. 33.86 38.85 7. 42.81 437.45 1. $.363 3.74.85 ROE%6... ROA%7... 8... 1.1 2.7 1.3 9.5 2.8 1. 1.7 3.6.6... 7,37 7,185 7,54 2 Meiji Dairies Corporation Annual Report 27
% 8, 7,323 7,218 7,25 7,19 7,27 25 235 5. 6, 2 157 156 194 199 3.4 4. 4, 15 1 79 2.2 2.2 2.7 2.8 3. 2. 2, 5 1. 2 3 4 5 6 2 3 4 5 6 ROE % 12 1 9.1 1.1 9.5 1.7 2. 1.8 1.5 8 1.5 1.3 1. 6 5. 1. 4.6.5 2 2 3 4 5 6 2 3 4 5 6 Meiji Dairies Corporation Annual Report 27 3
MEIJI DAIRIES GROUP SNAPSHOT 8 28 28 7 55263.4% NO.1 828 7,55 5,25 2,3 26 21 5 3.4 % 4. % 2.2 % 4 3 2 7,323 146 7,218 157 7,25 19 7,19 21 7,27 234 8, 6, 4, 4 1 2, 2 3 4 5 6 4 Meiji Dairies Corporation Annual Report 27
1 LG21 63 6.8 6.7 61 59 57.9 58.1 57 63. 55 55668 2 35 34.1 92.9 33.6 34 92.1 33 9.8 32 91.3 32.1 31 34.5 89. 94 93 92 91 9 3 3.2 89 29 88 28 2 3 4 5 6 87 3 2,5 2,231 2,312 2,266 2,215 1 2, 8 1,5 53 48 47 6 42 1, 4 5 2 3 4 5 6 Meiji Dairies Corporation Annual Report 27 5
TO OUR SHAREHOLDERS AND CUSTOMERS 26 27 28 26 M iji D i i C ti 7 271 1 18 23516 1234 36 3137 26 783 3 166721 3 26 6 Meiji Dairies Corporation Annual Report 27
1 15 9233 1 8 287 5526 3 428826 8 2nd No 1 8 1,1 48 Meiji Dairies Corporation Annual Report 27 7
8 TVCM 48 LG21 1 18126 6.7%2.6% LG21 29% % 64 63 62.4 63 2818 28 63% 62 61 6 6.7 6 7 8 P11-12 28 2715 2785 28 8 3281526 9 27 1 P26 MES FNS 28 8 Meiji Dairies Corporation Annual Report 27
1 EDI Electronic Data Interchange MES 27.2%7 42 3.8% 227 3.5%226.7%138.3%4 828 4.2%175 4.8%17513.7%15 27 11 8 LG21 B to C1, 13 5 8 27 8 Meiji Dairies Corporation Annual Report 27 9
: SPECIAL FEATURE 8 3 YOGURT BUSINESS 11.3 LG21 226 1, 288 281,1 LB81 27 9 2,5 LB81 1 2 NF 3 466 1.3 4 1.5 1 LB81 LB81 LB Lactic Acid Bacteria81 2381131 2 25 3 NF 111 1 Meiji Dairies Corporation Annual Report 27
CHEESE BUSINESS 1 3% 1 3 WTO 2812 2 197 16 15 12 16 14 13 12 13 122 14 127 139 14 13 136 2 3 4 5 6 18 Meiji Dairies Corporation Annual Report 27 11
LIQUID FOODS BUSINESS 5 7-8% 75 15 75261,2 15 2151,62252, 125 1 75 72 9 11 5 25 5 6 7 8 85 27 195 1986 YH 8 YH 28 8 3 4 kl 12 Meiji Dairies Corporation Annual Report 27
OVERALL BUSINESS SITUATION (NON-CONSOLIDATED) & CORPORATE SOCIAL RESPONSIBILITY (CSR) 14 16 18 19 2 22 23 24 26 28 3 Meiji Dairies Corporation Annual Report 27 13
AT A GLANCE 726 68.5% 77.1% 26 31.5% 68.5% 26 22.9% 77.1% 14 Meiji Dairies Corporation Annual Report 27
1% LB81LG21 LG21 61% 3, 2,5 2, 1,5 698 919 79 952 689 1,38 715 1,87 1, 1,321 1,282 1,217 1,196 5 4 5 6 7 6% 14% 8 6 4 2 225 145 11 332 219 146 1 295 223 15 9 28 231 141 9 272 4 5 6 7 Aya 8% 385 38 375 37 365 38 366 372 372 36 4 5 6 7 33 32 321 312 6% 31 3 29 32 291 28 4 5 6 7 11% 6 58 56 54 52 5 48 581 548 525 59 4 5 6 7 Meiji Dairies Corporation Annual Report 27 15
Meiji Dairies Corporation Annual Report 27 16 26.1% 2 946 5.%1 217 1 ml 5ml 2ml2.% 45 9.1%1 38 1 LB81 5g44.% 673 LG21 CM29%281 2.7%689 2.%443 27 1.8%2 998 1.7%1 196 5.% 473 CM 1 ml 2ml 2ml 3 1 ml 4.7%1 87 CM LB81 5g4 CITY MILK
27 8.%73 LG2127LG21 3.%29 27 3.6%715 272.%451 LG21 8 26 26 27 455 45 473 665 673 73 LG21 23 281 29 454 443 451 Meiji Dairies Corporation Annual Report 27 17
PROCESSED MILK PRODUCTS 26 3.1%1.7% 5.%1.% 665 3 2.%98 3.6% 28 27 5.%13 27 1.5%655 8 26 26 27 11 98 13 ICE CREAM 26 19.% 1.8%372 276.% 145 Aya 27 372 CM 8 26 26 27 12 137 145 18 Meiji Dairies Corporation Annual Report 27
BEVERAGES 26 3.3%32 27 273.6% OTHER PRODUCTS 26 4.3%525 7 27 3.%59 28 8 17 VAAM for 227 3 27 3.%72 8 26 26 27 75 7 72 Meiji Dairies Corporation Annual Report 27 19
RESEARCH & DEVELOPMENT (R&D) 3 26 26 8 J. of Gastroenterology and Hepatology 21 26 7 3 3666871 8 LG21 158 8 LG21 1 LG2118 18 2 Meiji Dairies Corporation Annual Report 27
Lactobacillus bulgaricus OLL173R 1 26 Lactobacillus bulgaricus OLL173R 129 8 NK 8NK 1 9 3 27 58 6 6 512 LoGIC26IDF Metabolism 56 27 3545767 3856457 26 9 11 Meiji Dairies Corporation Annual Report 27 21
27 3 31 GROUP COMPANIES... 1.... 67.93... 1.... 1.... 99.17... 99.56... 5.... 3.3... 94.67... 94.67... 94.67... 94.67... 94.67... 94.67... 94.67... 94.67... 94.67 38 314 473 48 74 47 91 99 2,285 379 49 445 4 4 49 65 9...... 7. 88.7... 94.67... 94.67... 1.... 94.67... 1.... 1.... 1. 15 1... 1. 48 98 396 48 4,64 72 3 25 22 Meiji Dairies Corporation Annual Report 27
27 4 1 ORGANIZATION 3 14 23 Meiji Dairies Corporation Annual Report 27 23
CORPORATE GOVERNANCE AND COMPLIANCE 25 6 3 IT 24 Meiji Dairies Corporation Annual Report 27
2 13 5 2 Meiji Dairies Corporation Annual Report 27 25
FOOD SAFETY INITIATIVES 26 Meiji Quality Assurance System 4 273 3 1 HACCP HACCP 196 Hazard Analysis Critical Control Point 26 Meiji Dairies Corporation Annual Report 27
2 ESL MES MES MES 4 ESL ESLExtended Shelf Life 23 4 3MES IT 18 2 4 Meiji Dairies Corporation Annual Report 27 27
ENVIRONMENTAL AND SOCIAL COMMITMENTS 28 21 1 3 27 CO2 281Kg-CO2 t 24 19.6Kg CO2 t 2491.2% CO2 1. 25ISO141 26ISO141 ISO 3. 2689.1% 2. CO2 CO2CO2 kg-co2 3, 28, 26, 24, 22, 2, 116.2 114.2 19.6 246,696 17.4 17.2 233,79 227,9 219,739 213,472 kg-co2/t 12 115 11 15 1 t 1 8 6 4 2 % 89.1 1 8.1 83.7 75.4 61.5 8 41. 6 31. 29.8 3.6 28.2 4 2 2 3 4 5 6 2 3 4 5 6 4. ISO CO2 232ha 235ha 467ha 28 Meiji Dairies Corporation Annual Report 27
electronic Meiji Customer Relationship 34 91997 6 11 3 Meiji Dairies Corporation Annual Report 27 29
27 7 1 BOARD OF DIRECTORS AND AUDITORS 3 Meiji Dairies Corporation Annual Report 27
FINANCIAL SECTION 32 38 26 42 44 45 46 47 55 56 Meiji Dairies Corporation Annual Report 27 31
FACTS & FIGURES 1 22 23 24 25............ 3...... 732,369 528,997 187,63 15,769 14,62 4,51 721,833 524,253 181,899 15,681 15,747 7,95 725,24 522,97 182,637 19,415 19,81 9,722 71,98 515,712 175,25 19,989 2,179 1,55......... 22,336 2,942 6,99 24,546 2,324 7,422 2,527 19,734 7,558 2,147 19,664 7,398... 4... 5... 363,354 82,241 15,317 364,958 91,892 142,352 357,592 1,26 128,93 361,134 112,695 116,475... 4...... 13.56 277.55 6. 26.74 31.23 6. 32.73 337.86 6. 33.86 38.85 7. ROE%6... ROA%7... %... 8... 5. 1.1 22.6 1.8 9.1 2.2 25.2 1.5 1.1 2.7 28. 1.3 9.5 2.8 31.2 1.... 7,754 7,482 7,37 7,185 32 Meiji Dairies Corporation Annual Report 27
26 72,75 52,635 176,517 23,597 23,421 13,78 2,798 18,915 7,57 2 26 $ 5,95,973 4,256,38 1,494,77 199,822 198,338 116,87 176,123 16,174 64,17 8, 6, 4, 2, 7,323 7,218 7,25 25.6 1,876 25.2 1,818 25.2 1,826 2 3 4 5 7,19 7,27 24.6 1,752 26. 25. 25.1 24. 1,765 23. 6 22. 383,56 146,44 86,286 42.81 437.45 1. $ 3,248,36 1,236,724 73,687 $.363 3.74.85 ROE 15 125 1 9.1 1.1 97 9.5 1 1.7 12. 137 1. 8. 75 79 6. 1.7 3.6 37.5.6 5 25 5. 4 2 3 4 5 6 4. 2. 7,54 1,5 1,437 5. 1,2 9 6 822 22.6 1,126 1, 918 31.2 28. 25.2 4. 37.5 3. 2. 3 1. 2 3 4 5 6 Meiji Dairies Corporation Annual Report 27 33
1 22 23 24 25............ 3...... 518,843 365,266 141,237 12,34 11,482 4,9 498,748 351,8 136,278 11,462 11,41 5,596 493,868 347,158 132,179 14,53 14,144 6,29 484,285 344,458 124,588 15,239 15,72 8,96......... 2,59 14,298 6,562 13,286 14,141 7,49 15,864 14,123 7,164 14,77 14,5 6,969......... 275,686 77,13 99,884 274,561 84,539 92,743 275,13 89,382 89,763 282,554 99,847 85,713... 4,698 4,512 4,457 4,352 34 Meiji Dairies Corporation Annual Report 27
26 481,26 338,37 124,897 18,271 18,373 9,235 14,95 13,298 7,93 2 26 $ 4,74,911 2,862,541 1,57,646 154,723 155,589 78,28 $ 126,221 112,613 6,68 6, 4, 2, 5,188 27.2 1,412 4,987 27.3 1,362 4,938 4,842 26.8 1,321 2 3 4 5 25.7 1,245 4,812 26. 6 28. 27. 26. 1,248 25. 322,137 126,168 75,828 4,339 $ 2,727,898 1,68,45 642,125 25 25 2 15 142 141 132 158 147 141 14 149 132 1 5 2 3 4 5 6 8 65 7 71 1.5 69 7 1.5 1.5 6 1.4 1.4 1.4 4 1.3 1.3 2 1.2 2 3 4 5 6 1.1 Meiji Dairies Corporation Annual Report 27 35
1 2 22 23 24 25 26 26... 3...... 3...... 3... 64,377 132,895 13,151 2,421 2.1% 1.8% 623,77 144,529 13,662 2,659 2.2% 1.8% 621,978 148,37 16,633 2,923 2.7% 2.% 65,813 149,243 16,469 3,517 2.7% 2.4% 596,68 151,193 2,22 3,46 3.4% 2.3% $ 5,52,154 1,28,323 169,551 29,37....................................... 293,911 139,574 9,516 63,821 8,182 37,789 1,29 15,388 25,794 41,228 34,48 69,112 518,843 291,87 133,41 9,81 67,596 75,269 34,54 1,147 15,329 24,252 36,56 31,534 63,629 498,748 294,1 132,182 91,947 69,88 71,485 33,236 1,13 14,588 22,557 38,45 32,175 58,151 493,868 294,365 128,244 95,29 7,91 67,187 29,552 1,35 14,625 21,974 36,636 31,256 54,839 484,285 294,674 121,795 13,886 68,992 66,523 28,89 995 15,8 22,358 37,287 3,213 52,56 481,26 $ 2,495,337 1,31,375 879,721 584,24 563,329 237,862 8,432 127,7 189,333 315,755 255,854 444,635 $ 4,74,911 25 2 15 24 131 26 136 29 35 166 164 34 2 3 25 2 15 1 1 5 5 2 3 4 5 6 2 3 4 5 6 36 Meiji Dairies Corporation Annual Report 27
22 23 24 25 26 1... 8,379,969 8,44,91 8,289,444 8,291,534 8,85,83-2.48% 1...kl... 4,43,271 4,479,722 4,41,151 4,261,231 4,115,169-3.43% 1...kl... 3,976,636 4,24,942 3,925,13 3,793,862 3,678,835-3.3% 1...kl... 453,635 454,78 476,48 467,369 436,334-6.64% 1...kl... 798,915 794,687 788,399 81,63 849,468 5.97% 2...kl... 127,171 123,254 124,872 113,794 12,155 5.59% 1... 248,472 255,43 265,729 261,822 27,59 3.15% 1... 135,943 141,185 15,742 143,582 152,719 6.36% 3... 112,529 113,858 114,987 118,24 117,34 -.76% 4...kl... 77.1 75.2 81.8 78. 77.3 -.9% 22 23 24 25 26... 16.8% 16.7% 16.9% 16.9% 16.9% pt............ 12.8% 27.1% 12.3% 14.8% 11.3% 27.4% 11.% 14.% 11.3% 28.3% 1.8% 12.7% 11.7% 3.3% 1.4% 12.4% 12.4% 3.7% 1.5% 11.4% +.7pt +.4pt +.1pt -1.pt Meiji Dairies Corporation Annual Report 27 37
26 REVIEW AND ANALYSIS OF FISCAL 26 RESULTS 26 1.1%72 75 49 13 76 1.%.7% 176 517 1 19 14 22 12.%214 36.3%13 78 1 33.842.8 9.5%1.7% 1.5%596 68 21.6%2,22 18.%23 597 6. 73. 26. 4. 2. 72.5 72. 25.6 72.6 72.2 25.2 25.2 72.1 72.5 25.1 25.5 25. -2. 71.5 24.6 71.5 24.5-4. 4/4 4/1 5/4 5/1 6/4 6/1 7/4 71. 2 3 4 5 6 24. 38 Meiji Dairies Corporation Annual Report 27
1.3% 151 193 1.6%3 46 13 192 1451 4 26 22 426 383 56 1 552 46 6 386 5 9 659 1971 979 19 321 155 78 172 596 44 6.%55 183 4.6% 8 648237 515 14 99 182 255 4 57 23 557 55 26 4. 3.4-5 -1, -1,11-929 -418-432 3. 2. 1. 2.1 1.8 2.2 1.8 2.7 2. 2.7 2.4 2.3-1,5-1,379 2 3 4 5 6 2 3 4 5 6 Meiji Dairies Corporation Annual Report 27 39
31 76 146 44 6.3%37.5% 1 56.6437.45 37 123 5 866 2 471 15,447 8 33921 675 21 112 2 5711 433 1 24213 863 26 4.5%26 924 38.1% 21 459 2 56 51.1%5 464 26 2.3%7 57 6.7%5 14 5.2%2 556 25, 2, 213,526 223,85 231,156 226,623 221,544 6, 4,346 4,937 4,477 5,48 2.3 3. 15, 4, 3,12 1.5 1.9 2.1 2. 2. 1, 2, 1. 5, 2 3 4 5 6 2 3 4 5 6 4 Meiji Dairies Corporation Annual Report 27
1 4 2 WTO 7 2 5 3 16 3 4, 213,49 3, 2, 1, 15,34 216,834 82,241 1,975 11,283 168,852 148,123 215,232 91,892 2,328 95,167 175,57 142,36 224,675 1,26 2,296 91,296 163,972 136,458 227,779 112,695 2,273 78,817 167,346 155,78 135,481 2,291 55,26 182,255 2 3 4 5 6 4, 3, 2, 1, -1, -2, -3, 37,123 34,754 34,519 31,256 25,788-4,664-1,356-11,433-13,49-16,137-16,165-15,447-18,738-17,919-28,4 2 3 4 5 6 Meiji Dairies Corporation Annual Report 27 41
CONSOLIDATED BALANCE SHEETS 2726 3 31 13... 11............ 4... 8......... 27 26 27 13,877 9,36 1,764 5,58 (452) 34,653 6,933 3,459 155,78 3,638 81,21 1,552 3,76 (666) 36,967 6,886 3,11 136,458 $ 117,514 762,443 14,939 46,649 (3,831) 293,451 58,711 29,292 1,319,171 5 7... 46,946 41,92 3,446,67... (234,349) (228,49) (1,984,52)... 172,596 172,62 1,461,565... 4,64 5,664 39,299 7... 29,476 29,153 249,612... 1,357 1,429 11,492... 4,119 3,573 34,88 8... 444 369 3,764... 16,82 12,853 136,192... (937) (97) (7,941)... 55,183 52,72 467,3... 383,56 361,134 $ 3,248,36 42 Meiji Dairies Corporation Annual Report 27
6 7... 11..................... 27 26 27 46,653 69,931 3,355 3,68 32,841 35 25,758 182,255 52,785 61,63 2,683 3,273 29,769 17,771 167,346 $ 395,66 592,187 28,412 31,165 278,18 296 218,125 1,543,362 6 7... 8... 1............ 39,633 9,984 4,12 837 791 55,26 63,69 9,253 4,62 1,271 78,817 335,62 84,553 33,981 7,92 6,72 467,949 12 56,, 27 329,648,78626 296,648,786......... 27 1,32,63926 834,195...... 33,646 31,993 7,47 (566) 135,481 23,9 21,434 58,55 (394) 12,635 284,919 27,923 596,221 (4,795) 1,147,269............ 8,272 2,291 146,44 383,56 1,59 2,273 114,967 361,134 7,49 19,45 1,236,724 $3,248,36 Meiji Dairies Corporation Annual Report 27 43
CONSOLIDATED STATEMENTS OF INCOME 2726 3 31 27 26 27... 15...... 14 15...... 72,75 52,635 2,114 176,517 23,597 71,98 515,712 195,195 175,25 19,989 $5,95,973 4,256,38 1,694,593 1,494,77 199,822..................... 557 169 116 (989) (2,23) 21,426 639 179 3 (1,57) (649) 19,133 4,718 1,431 988 (8,38) (17,135) 181,445...... 5,878 1,824 6,81 2,91 49,781 15,446...... 15 13,78 95 1,55 13 $ 116,87 27 26 27...... 42.81 1. 33.86 7. $.363.85 44 Meiji Dairies Corporation Annual Report 27
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY 2726 3 31... 296,648 23,9 21,432 5,26 (33) 94,48 5,546 2,296 12,323... (35) (35) (35)... (1,775) (1,775) (1,775)... 1,55 1,55 1,55... (97) (97) (97)... 2 6 9 9... 4,512 (22) 4,489... 2 8,244 (9) 8,156 4,512 (22) 12,646... 296,648 23,9 21,434 58,55 (394) 12,636 1,59 2,273 114,969... 33, 1,556 1,556 21,112 21,112... (35) (35) (35)... (2,169) (2,169) (2,169)... 13,78 13,78 13,78... 424 424 424... (26) (26) (26)... (176) (176) (176)... 2 4 6 6... (1,787) 17 (1,769)... 33, 1,556 1,558 11,92 (172) 32,844 (1,787) 17 31,75... 329,648 33,646 31,993 7,47 (566) 135,481 8,272 2,291 146,44... 296,648 $195,53 $181,514 $495,43 $(3,337) $ 869,137 $ 85,184 $19,255 $ 973,577... 33, 89,389 89,389 178,779 178,779... (296) (296) (296)... (18,372) (18,372) (18,372)... 116,87 116,87 116,87... 3,595 3,595 3,595... (223) (223) (223)... (1,493) (1,493) (1,493)... 19 35 54 54... (15,134) 149 (14,985)... 33, 89,389 89,49 1,791 (1,457) 278,132 (15,134) 149 263,147... 329,648 $284,919 $27,923 $596,221 $(4,795) $1,147,269 $ 7,49 $19,45 $1,236,724 Meiji Dairies Corporation Annual Report 27 45
CONSOLIDATED STATEMENTS OF CASH FLOWS 2726 3 31 27 26 27......................................................... 21,426 19,853 (169) (5,17) (557) 989 1,42 23 (9,192) 2,24 9,645 3,151 (544) 43,37 561 (1,4) (5,471) 37,123 19,133 2,481 (179) (7,221) (639) 1,57 1,675 (129) 1,44 2,66 (948) 517 1,65 38,517 643 (1,8) (6,823) 31,256 $ 181,445 168,119 (1,431) (42,486) (4,718) 8,38 8,831 1,722 (77,84) 18,668 81,681 26,688 (4,61) 364,45 4,753 (8,55) (46,335) 314,363............ (1,641) (1,994) (2,811) (15,447) (17,513) (2,345) 1,939 (17,919) (9,115) (16,888) (23,87) (13,81)........................ 4,4 (19,71) (6) 21,112 (2,169) (14,286) (187) (11,433) 3,68 (17,87) (1,775) 2,58 (96) (13,49) 37,259 (166,837) (5,8) 178,779 (18,371) (12,981) (1,585) (96,817)......... 1,242 3,621 13,863 (153) 3,774 3,621 86,734 3,664 $ 117,398 46 Meiji Dairies Corporation Annual Report 27
Meiji Dairies Corporation Annual Report 27 47 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 27 3 311118 9 a 2426 25 18 8 31 18 6 18 4 28 3 31 3 326 2 5 b c d e 6 4 1 1 1 4 1 2 6 2 26 2 22 f 5 g h 1,93915 14 7 i
Meiji Dairies Corporation Annual Report 27 48 j k l 3 m n o 13 53 5 11 p 1 1 q 517 12 9 817 12 9 143,753 r s 1 417 11 29 35296 2 19 6 774 6,559
27 3 31..................... 12,24 12,24 497 497 12,521 26,49 26,49 423 423 26,473 14,25 14,25 (74) (74) 13,951 26 3 31........................ 1,38 1,38 122 11 133 1,442 27,282 27,282 19 11 121 27,44 16,974 16,974 (12) (12) 16,961 27 3 31..................... $ 11,822 11,822 4,214 4,214 $ 16,37 $ 22,593 22,593 3,582 3,582 $ 224,176 $ 118,77 118,77 (631) (631) $ 118,139 2726 3 31 27 26 27......... 24,445 1,28 34,653 26,176 1,791 36,967 $ 27,3 86,447 $ 293,451 2726 3 31 27 26 27.................. 43,854 62,151 47,294 9,258 1,37 172,596 43,415 66,23 52,888 9,112 982 172,62 $ 371,365 526,32 4,494 78,43 84,999 $1,461,565 Meiji Dairies Corporation Annual Report 27 49
1 2726 3 311.8.55 27 26 27... 27 3 12 1.13... 27 5 1 1.8...... 16,653 2, 1, 36,185 6 16, $ 141,23 169,362 84,681... 46,653 52,785 $ 395,66 2 2726 3 31 27 26 27 27 5 1 1.8... 29 6 1.81...... 15, 32,36 2, 15, 47,68 $ 127,22 273,574... (7,672) (18,917) (64,975)... 39,633 63,69 $ 335,62 27 3 31 3 31 28... 29... 21... 211...... 6,125 5,119 5,626 7,761 24,633 $ 51,875 43,352 47,647 65,723 $ 28,598 2726 3 31 27 26 27............... 9,269 7,777 69 8,69 3,492 11,658 9,289 89 14,339 4,9 $ 78,493 65,862 588 73,593 29,571... 29,299 39,386 $ 248,19 5 Meiji Dairies Corporation Annual Report 27
2726 3 31 27 26 27............... 1,36 1,967 1,529 2,467 16,325 4,976 2,153 13,459 2,56 23,15 $ 11,52 16,663 89,162 2,897 $ 138,244 2726 3 31 27 26 27................................. 927 2,778 1,183 1,187 1,137 34 1,723 83 1,73 (1,593) 8,479 1,13 2,689 1,147 987 1,28 343 2,16 1,533 1,93 (2,398) 8,54 $ 7,853 23,53 1,21 1,56 9,636 2,582 14,596 7,29 85,35 (13,496) 71,89............... (3,393) (5,631) (1,853) (29) (11,86) (3,429) (6,846) (226) (1,52) (28,734) (47,689) (15,688) (1,774) (93,885)... (2,67) (1,997) $ (22,76) 2726 3 31 27 26 27......... 16,565 9,621 6,936 22,52 13,644 8,857 $ 14,281 81,478 $ 58,737 Meiji Dairies Corporation Annual Report 27 51
2726 3 31 27 26 27 1... 1...... 3,78 4,163 7,241 3,78 5,492 9,273 $ 26,69 35,255 $ 61,325 2726 27 26 27......... 4,112 3,81 175 5,5 5,9 219 $ 34,827 32,27 1,487 2726 3 31 27 26 27........................ (75,28) 64,475 5,757 14,766 (4,635) 5,82 9,95 (4,12) (78,41) 63,455 6,477 14,244 (5,732) 34 4,637 (4,62) $ (637,488) 545,983 48,75 125,46 (39,257) 43,37 77,18 $ (33,981) 27 26 27..................... 1,447 1,897 (1,742) 711 1,73 (1,17) 2,937 1,463 2,129 (1,667) 711 2,665 (1,5) 4,296 $ 12,256 16,7 (14,754) 6,26 14,654 (9,382) $ 24,871 2726 3 31 27 26.................. 2.5% 3.5% 14 15 7 2.5% 3.5% 14 15 7 52 Meiji Dairies Corporation Annual Report 27
459 735 2726 3 31 27 26 27 PT.INDOMEIJI Dairy Food.................. 16 98 35 95 28 16 115 84 3 $ 1,355 833 296 88 27 26 27... 3...... 13,877 (13) 13,863 3,638 (17) 3,621 $ 117,514 (115) $ 117,398 2726 3 31 27 26 27............ 28,87 51,772 38,12 1,929 28,927 49,942 38,199 2,763 $ 243,947 438,414 322,87 16,336 2726 3 31 27 26 27... 7,57 7,398 $ 64,17 Meiji Dairies Corporation Annual Report 27 53
2726 3 31 26 4 127 3 31............... 594,815 1,793 596,68 576,586 2,22 17,935 43,258 151,193 147,732 3,46 72,75 45,51 747,82 724,318 23,483 (45,51) (45,51) (45,165) 113 72,75 72,75 679,153 23,597............ 36,393 15,191 13 21,557 67,34 4,661 6,995 373,734 19,853 13 28,553 9,826 383,56 19,853 13 28,553 25 4 126 3 31............... 64,12 1,8 65,813 589,343 16,469 16,895 42,347 149,243 145,725 3,517 71,98 44,148 755,56 735,69 19,986 (44,148) (44,148) (44,151) 2 71,98 71,98 69,918 19,989............ 271,23 16,5 244 15,676 89,73 4,431 96 5,268 36,96 2,481 34 2,945 173 361,134 2,481 34 2,945 26 4 127 3 31............... $5,36,964 15,189 $5,52,154 4,882,62 169,551 $ 914,8 366,314 $1,28,323 1,251,15 29,37 $5,95,973 381,54 $6,332,477 6,133,618 198,859 $ (381,54) $ (381,54) (382,467) 962 $5,95,973 $5,95,973 5,751,15 199,822............ 2,594,575 128,647 11 182,551 57,248 39,472 59,24 3,164,824 168,119 11 241,792 83,212 3,248,36 168,119 11 241,792 54 Meiji Dairies Corporation Annual Report 27
REPORT OF INDEPENDENT AUDITORS Meiji Dairies Corporation Annual Report 27 55
STOCK INFORMATION 2 25, 16 2, 12 TOPIX 15, 8 1, 4 5/4 5/6 5/8 5/1 5/12 6/2 6/4 6/6 6/8 6/1 6/12 7/2 5, 27 3 31 27 3 31................................. 19,566 14,581 12,251 12,211 11, 1,13 8,85 6,985 5,221 4,61 14,527 5.94 4.42 3.72 3.7 3.34 3.4 2.45 2.12 1.58 1.4 31.71 2.75% 12.3% 25.25% 18.% 41.7% CORPORATE DATA 27 3 31 136-898 2 1 29,546 3-5653-3 FAX 3-5653-4 27 6 28 UFJ 1917612 21 http: //www.meinyu.co.jp/ 33,646 4,339 56,, 56 Meiji Dairies Corporation Annual Report 27
136-898 2 1 Tel : (3) 5653-3 URL : http://www.meinyu.co.jp/