伊藤ハム米久ホールディングス（2296） – Consolidated Financial Results Year Ended March 31, 2022

Consolidated Financial ResultsYear Ended March 31, 2022May 09, 2022Itoham Yonekyu Holdings Inc.ITOHAM YONEKYU HOLDINGS INC. 2022Table of Contents■Consolidated Financial Results Year Ended March 31, 2022Profit/LossItemized SalesSelling, General and Administrative Expenses・Non-Operating G/L・Extraordinary G/L■Appendix (Market Data)Overseas Market PricesCPIHam Sausage DataDomestic Production/ImportsMeat DataMarketed Volume/Ending Inventory (Beef)Marketed Volume/Ending Inventory (Pork)Marketed Volume/Ending Inventory (Chicken)Balance SheetCash Flow StatementShareholders Return Policy■Segment InformationProcessed Food Division Results Meat Division Results Segment Information■Consolidated Performance Forecast(From April 1,2022 to March 31,2023)Processed Food DivisionMeat DivisionSegment InformationProfit/LossItemized Sales-1-ITOHAM YONEKYU HOLDINGS INC. 2022Consolidated Financial ResultsYear Ended March 31, 2022• From the beginning of the current fiscal year, “Accounting Standards for Revenue Recognition” (Corporate Accounting Standard No. 29), etc. have been applied.• Since less than 100 million yen is rounded down, the sum and difference of the indicated values may not match the total.-2-ITOHAM YONEKYU HOLDINGS INC. 2022Profit/LossYear Actual*Reference applying revenue recognition(Our estimated value)*Previous yearpublished figures100Million Yen, %Sales※Round down less than 100 million yen(Processed Food Division)・Increased sales of mainly consumer processed foods・Increased sales of roast beef for wholesales(Meat Division)・Increased unit sales price due to rising market price ofimported beef・Increased sales of imported chickenGross profit【Factors for increasing profits】(Meat Division)・Increased demand for imported chicken・Increased in profits of overseas business(Anzco Foods)【Factors for reduce profits】(Processed Food Division)・Increased procurement for raw materials,ingredients and utility costsSelling, general and administrative expenses・Increased logistics costs(incr 800million yen)※Comparison of our estimated values after applying the revenue recognition standard-3-ITOHAM YONEKYU HOLDINGS INC. 20222021/032021/03YearYearChangeYearSales8,1158,5434288,426COGS6,8107,2244147,026Gross Profit1,3041,319141,399(% of sales)16.115.4-0.616.6Selling, General andAdministrative Expenses1,0641,07281,159(% of sales)13.112.6-0.613.8Operating Income2402465240(% of sales)3.02.9-0.12.9Non-operating Gain/Loss29391029Ordinary Income27028515270(% of sales)3.33.30.03.2Extra-ordinary Gain/Loss21-3-2421Income Before Taxes291282-8291Net Income202191-10202(% of sales)2.52.2-0.32.42022/03Itemized SalesItemized Sales*Reference applying revenue recognition(Our estimated value)100Million Yen*Previous yearpublished figures※Round down less than 100 million yenYear on Year Changes横位置：0.5 cm縦位置：4.57 cm倍率：100%Comparison of our estimated values after applying the revenue recognition standard• For referenceYear on year changes excluding ANZCO%%Comparison of our estimated values after applying the revenue recognition standard-4-ITOHAM YONEKYU HOLDINGS INC. 2022VolumeAmountHam/Sausage-0.5-0.1Processed Food0.72.2Meat2.44.9　　　　Beef-6.36.1　　　　Pork1.6-0.7　　　　Chicken10.416.2　　　　Others-6.36.72022/03YearVolumeAmountHam/Sausage-0.30.7Processed Food1.22.9Meat0.26.9　　　　Beef-8.88.6　　　　Pork1.6-0.7　　　　Chicken10.416.2　　　　Others-2.614.82022/03Year2021/032021/03Sales8,1158,5434288,426Ham/Sausage1,7261,738121,776Processed Food1,4521,495421,480Meat4,7725,0993275,007Others16320946163YearYearChange2022/03YearS,G & A Expenses / Non-operational G/L / Extraordinary G/LS,G & A Expenses100Million Yen, %Non-operational Gain/Loss*Reference applying revenue recognition(Our estimated value)*Previous yearpublished figures※Round down less than 100 million yen100Million Yen横位置：14.9 cm縦位置：3.49 cm倍率：100%横位置：0.67 cm縦位置：4.05 cm倍率：100%Extraordinary Gain/Loss100Million Yen横位置：15.45 cm縦位置：12.92 cm倍率：100%-5-ITOHAM YONEKYU HOLDINGS INC. 20222021/03YearYear増減Non-controlling interests106-4Financing011Subsidy Income12186Others6136Non-Operational G/L2939102022/032021/032021/03YearYearChangeYearSales8,1158,5434288,426Selling, General andAdministrative Expenses1,0641,07281,159% of Sales13.112.5-0.613.8Labor Expenses358353-4358Logistics Expenses4384467444Advertisement4344068Packing3838038Depreciation1917-219Other Expenses16517262292022/032021/03YearYearChangeGain on sales of investment securities-405Insurance income301-28Others-4-5-1Extraordinary G/L21-3-242022/03Balance Sheet※Round down less than 100 million yen100Million Yen横位置：1.4 cm縦位置：2.59 cm倍率：107%100Million YenChange：+ 24：+ 133Change：+ 58：- 13AssetsLiabilityReceivablesInventoriesTrade notes/PayablesShort Term Debts*Including Current portion of Long-term loans payableNet Assets＜Valuation/Conversion＞Valuation difference on available-for-sale securitiesChange5Foreign currency translation adjustment：+ 23：–6-ITOHAM YONEKYU HOLDINGS INC. 20222021/03Year end2022/03Year endChange2021/03Year end2022/03Year endChangeCurrent Assets2,2632,434170Total Liabilities1,4641,50339Cash and Term Deposits509479-29Current Liabilities1,2301,26534Receivables86589024Fixed Liablilities2332384Inventories822955133Net Assets2,4762,627150Other Current Assets6610842Shareholder’s equity2,3992,522122Capital3003000Fixed Assets1,6771,69720Capital Surplus9669660Tangible Assets975970-5Retained Earning1,1691,298128Intangible Assets2172213Treasury Stock-36-41-5Investments & Other Assets48350622Other Comprehensive Income699728Stock Acquisition Rights110Non-controlling interests550Total Assets3,9404,131190Liability and Net Assets3,9404,1311902021/03Year end2022/03Year endChangeDebt with Interes365351-14D/E Ratio (%)14.813.4-1.4Shareholder’s equity2,4692,620150Capital to Asset Ratio (%)62.763.40.8Cash Flow Statement100Million Yen※Round down less than 100 million yen横位置：0.64 cm縦位置：2.99 cm倍率：100%横位置：13.95 cm縦位置：3.19 cm倍率：100%Depreciation100 Million Yen2022/031132023/03 Forecast 120Capital Expenditure100 Million Yen1162022/032023/03 Forecast 280-7-ITOHAM YONEKYU HOLDINGS INC. 20222021/03YearYearChange①Cash Flow from Operation408184-223Income Before Taxes291282-8Depreciation1151140Change in Recievables12-16-29Change in Inventory80-123-203Change in Payables-4854102Others-42-126-83②Cash Flow from Investments-108-112-4③Cash Flow from Financing-210-106104④Ending Cash and Securities506476-29①+② FCF30072-2282022/03408184-108-11230072-300-1001003005002021/032022/03Amount (100Million Yen)CF operationCF invetmentsFCFShareholders Return Policy※Round down less than 100 million yen※Upper limit【Dividend】・The dividend have increased stably in the range of 30% to 50% with in the dividend payout ratio of 40%.【Treasury Stock】・Plan to buy back shares up to 10 million shares・5 billion yen・Scheduled to eliminate of 5 million treasury stock. （It would be implemented on June 30,2022）-8-ITOHAM YONEKYU HOLDINGS INC. 20222018/032019/032020/032021/032022/032023/03（Forecast）Net Income157105114202191150DividendPer Share17 yen17 yen17 yen21 yen23 yen24 yenDividend amount505050616770Dividend Payout Ratio31.9%47.5%43.9%30.6%35.2%46.7%Acquisition Of Treasury StockAcquired Number Of Shares2 million shares0.4 million shares1 million shares2 million shares1 million shares10 million sharesTotal acquisition192614650Total Payout Ratio44.5%50.2%49.1%37.7%38.6%80.1%Segment InformationYear Ending March 31, 2022-9-ITOHAM YONEKYU HOLDINGS INC. 2022Processed Food Division ResultsOperating Income FactorsProcessed Food Division ResultsYear Ending March 31, 2022※Round down less than 100 million yen100Million Yen[Sales Volume] －100 million yen・Sales of processed foods that meet the demand for stocks increased, but sales of hams and sausages for consumer products decreased in reaction to the previous year.・Volume reduction due to review of unprofitable products[Impact on gross profit and SG & Aexpenses] + 3,100million yen・Increase in gross profit unit price due to improved product mix・Cost improvement by promoting production optimization[External environment]・Impact of main raw materials, etc.－ 4,500 million yen[Internal improvement]・ Cost reduction effect +400 million yen(Production factory improvement activities)Market FactorHam and Sausage Domestic Distribution (domesticand imported) (Apr2021-Feb 2022, year on year comparison)(Processed meat distribution survey)Growth rate of expenditure on processed foods(Family Income and Expenditure Survey, Ministry of InternalAffairs and Communications)(Expenditure per household, nominal rate of change, year on yearcomparison) April 2021-Feb 2022 average- 0.4%+ 5.4%Actual Results-0.1%Ham/SausageProcessed Food Volume +0.7% Sales ＋2.2%Volume -0.5% Sales* excludes ANZCO FoodsMain products (Amount (year on year comparison))+ 0.9%The GRAND Alt-Bayern（1Q：+0.5% 2Q：+2.6% 3Q：-1.2％ 4Q：+1.8%）- 0.4%Asano Fresh Loin Ham（1Q：-2.2% 2Q：-0.4% 3Q：+1.3% 4Q：+0.3%）- 8.9%Gotenba Kogen Arabiki Pork（1Q：-13.4% 2Q：-2.2% 3Q：-11.7% 4Q：-6.3%）- 0.5%GENKEI bacon block series（1Q：-9.9% 2Q：+5.7% 3Q：+5.2% 4Q：-3.9%）+ 3.0%Chilled Pizza（1Q：+8.1% 2Q：+9.2% 3Q：-3.6% 4Q：-1.0%）-1横位置：0.32 cm縦位置：3.6 cm倍率：80%-45-1-1※Comparison of our estimated values after applying the revenue recognition standard-10-ITOHAM YONEKYU HOLDINGS INC. 202212311013145151801201602021/03 OperatingIncomeSales VolumeGross Margin,SG&AIngredient,utilityCostsLogistics costimpactCost ReductionOthers2022/03 OperatingIncome2021/03Processed Food Sales2,9933,02329DivisionOp Income123110-13% Sales4.13.7-0.52022/03YearYearChangeMeat Division Results※Round down less than 100 million yen100Million YenOperating Income FactorsProcessed Food Division ResultsYear Ending March 31, 20222,212 (+ 175 )yen/kg507 (- 17 ) yen/kg943 (- 14 ) yen/kg* Actual Apr – Aug results for each market. Figures in parentheses denoteprevious year’s figure[Sales Volume] +200 million yen・Sales of imported chicken increased significantly・Sales volume of imported beef and domestic pork decreased[Gross profit / SG & A factors] －1,100 million yen・Deterioration of profits due to rising local pork market ・Deterioration in profits of imported beef and domestic pork due to sluggish domestic demand[Overseas business factors] ＋2,900million yen・Selling price rise of ANZCO Foods due to the rise in the meat worldwide market[Production business factors] －300million yen・Soaring feed pricesMarket FactorDomestic Beef Market(Wagyu A4)Domestic Pork Market(Kanto 3 Market Ave.)Domestic Chicken Market(Breast/Thigh added value)Beef Marketed Volume（21/04-22/02）Pork Marketed Volume（21/04-22/02）Chicken Marketed Volume（21/04-22/02）Actual Results- 2.7%+ 1.5%+ 4.7%* Portioned meat basis excluding meat for processed productsBeef Volume – 6.3% Amount + 6.1 %0.7%Pork VolumeChicken Volume + 10.4% Amount + 16.2%+ 1.6% Amount-* excludes ANZCO Foods横位置：0.32 cm縦位置：3.60 cm-11倍率：80%-1-3※Comparison of our estimated values after applying the revenue recognition standard-11-ITOHAM YONEKYU HOLDINGS INC. 202213414821112930801201602002021/03 OperatingIncomeSales VolumeGross Margin,SG&ALogistics costimpactOverseasOperationLivestockProductionOthers2022/03 OperatingIncome2021/03MeatSales5,0815,478397DivisionOp Income13414814% Sales2.62.70.12022/03YearYearChangeConsolidated Performance Forecast(From April 1,2022 to March 31,2023)Since less than 100 million yen is rounded down, the sum and difference of the indicated values may not match the total.-12-ITOHAM YONEKYU HOLDINGS INC. 2022Forecast Year Ending March 31, 2023 Processed Food DivisionProcessed Food Division ForecastForecast Year Ending March 31, 2023Round down less than 100 million yen100Million Yen, %横位置：0.07 cm縦位置：2.95 cm倍率：100%Operating Income Factors100Million Yen横位置：0.07 cm縦位置：8.5 cm倍率：80%Market FactorRaw MaterialsSupplementary MaterialsUtilitiesLogistics ExpensesBusiness Strategy-32.0 100Mil. Yen-28.0 100Mil. Yen- 20.0 100Mil. Yen- 3.0 100Mil. Yen100Million Yen-2.8％ Amount +1.4％Ham/Sausage VolumeProcessed Food Volume +1.0％ Amount +2.1％* excludes ANZCO Foods-8-80-3横位置：7.46 cm縦位置：8.15 cm倍率：80%✓Strengthening brand power and responding to diversity・Reinforce existing brands・Cultivation of standard products/only one products・Strengthening digital marketing efforts✓Improved profitability・Price revision,completion of renewal・Efforts to reduce manyufacturing costs,andoptimization of production/logistics system✓Processed foods/further expansion of business domain・Pursuit of deliciousness,and strengthen marketing・Fostering growing products and brands・Strengthen development and expand channels of soy meats,frozen foodsCapital Expenditure138 100Mil. Yen※Comparison of our estimated values after applying the revenue recognition standard-13-ITOHAM YONEKYU HOLDINGS INC. 20222022/032023/032022/032023/032022/032023/03ActualForecastChangeActualForecastChangeActualForecastChangeProcessed FoodSales1,4821,510271,5401,600593,0233,11086Op Income6535-304540-511075-35% Sales4.42.3-2.13.02.5-0.53.72.4-1.3First halfSecond halfYear110758558030601001401802022/03 OperatingIncomeSales VolumeGross Margin,SG&AIngredient,utilityCostsLogistics costimpactOthers2023/03 OperatingIncomeFirst halfSecond halfYearForecastForecastForecast2022/03 Operating Income6545110Sales Volume-4-4-8Gross Margin,SG&A253055Ingredient,utility Costs-49-31-80Logistics cost impact -2-1-3Others0002023/03 Operating Income354075Change-30-5-35Forecast Year Ending March 31, 2023 Meat DivisionMeat Division Forecast※Round down less than 100 million yen100Million Yen, %Forecast Year Ending March 31, 2023横位置：0.64 cm縦位置：2.99 cm倍率：100%Operating Income Factors100Million Yen100Million Yen横位置：0.15 cm縦位置：8.5 cm倍率：80%横位置：7.55 cm縦位置：8.17 cm-2倍率：80%※Comparison of our estimated values after applying the revenue recognition standardMarket FactorDomestic Beef Market(Wagyu A4)Domestic Pork Market(Kanto 3 Market Ave.)）Domestic Chicken Market(Breast/Thigh added value)Business Strategy2,225 (+ 13)yen/kg505 (-2) yen/kg908 (- 36) yen/kgBeefPorkChickenvolume + 0.1 % amount – 0.8 %volume- 0.1 % amount – 0.5 %volume – 0.2 % amount – 2.1 %* excludes ANZCO Foods・Strengthen the group purchasing power by taking advantage of economies of scale・Active investment in farm business・Strengthen sales of brand meat and primary processed products・Functional improvement by optimizing sales bases・Enhancement of direct sales system to ready-to-eat andrestaurant companies・Expansion of business domain by effective utilization of -12・Business efficiency improvement by promoting by-productsdigitalization・Introduction of low environmental impact type equipmentCapital Expenditure126 100Mil. Yen-14-ITOHAM YONEKYU HOLDINGS INC. 2022148150012151201001401802022/03 OperatingIncomeSales VolumeGross Margin,SG&ALogistics costimpactOverseasOperationLivestockProductionOthers2023/03 OperatingIncome2022/032023/032022/032023/032022/032023/03ActualForecastChangeActualForecastChangeActualForecastChangeMeatSales2,6742,690152,8042,81055,4785,50021DivisionOp Income869036260-21481501% Sales3.23.30.12.22.1-0.12.72.70.0First halfSecond halfYearFirst halfSecond halfYearForecastForecastForecast2022/03 Operating Income8662148Sales Volume-110Gross Margin,SG&A-341Logistics cost impact-1-1-2Overseas Operation15015Livestock Production-6-6-12Others0002023/03 Operating Income9059150Change4-21Forecast Year Ending March 31, 2023 Profit/LossSegment Forecasts100Million Yen, %※Round down less than 100 million yen横位置：12.04 cm縦位置：2.04 cm倍率：100%100Million Yen, %横位置：0.92 cm縦位置：2.67 cm倍率：100%横位置：0.64 cm縦位置：9.8 cm倍率：100%※Sales for each segment are sales amount to outside customers.-15-ITOHAM YONEKYU HOLDINGS INC. 2022Forecastvs 2021/03Forecastvs 2021/03Forecastvs 2021/03Sales1,4821,5403,0231,510271,600593,11086Op Income654511035-3040-575-35% Sales4.43.03.72.3-2.12.5-0.52.4-1.3Meat DivisionSales2,6742,8045,4782,690152,81055,50021Op Income866214890360-21501% Sales3.22.22.73.30.12.1-0.12.70.0OthersSales20214220020-140-2Op Income101100010Consolidation AdjOp Income-7-7-15-11-3-52-16-1ConsolidatedSales4,1774,3668,5434,220424,430638,650106Op Income144101246115-2995-6210-36% Sales3.52.32.92.7-0.72.1-0.22.4-0.5Processed FoodDivision Year2022/032023/03 ForecastFirst halfSecond half YearFirst halfSecond half2022/03Sales3,0233,11086Op Income11075-35% Sales3.72.4-1.3Meat DivisionSales5,4785,50021Op Income1481501% Sales2.72.70.0OthersSales4240-2Op Income110Consolidation AdjOp Income-15-16-1ConsolidatedSales8,5438,650106Op Income246210-36% Sales2.92.4-0.5Processed FoodDivision2023/03 ForecastYearYearChange110 75 148 150 246 210 8,543 8,650 02,0004,0006,0008,00010,00012,0000501001502002503003504002021/032023/03 ForecastSales (100Mllion Yen)OPincom (100Million Yen)Processed FoodMeatConsolidatedConsolidated SalesForecast Year Ending March 31, 2023 Profit/LossForecast※Round down less than 100 million yen100Million Yen, %横位置：0.5 cm縦位置：2.45 cm倍率：100%2022/03 Operating Income (Meat) Sales volume Gross Margin, SG&A Ingredient, utility Costs Logistics cost impact 100Million Yen246(Processed Foods) Sales volume – 8+ 55- 80- 30+ 1Gross Margin, SG&A – 2Logistics cost impact + 15Overseas Operation – 12Livestock Production Others – 22102023/03 Operating Income -16-ITOHAM YONEKYU HOLDINGS INC. 2022ActualChange%ChangeForecastChange%ChangeForecastChange%ChangeSales4,1774,3668,5434,2201.0424,4301.5638,6501.2106COGS3,5053,7187,2243,5681.8623,7871.8687,3551.8130Gross Profit6716471,319652-2.9-19643-0.7-41,295-1.8-24(% of sales)16.114.815.415.5-0.614.5-0.315.0-0.5S, G & A expenses5265451,0725371.9105480.421,0851.112(% of sales)12.612.512.612.70.112.4-0.112.5-0.0Operating Income144101246115-20.6-2995-6.2-6210-14.7-36(% of sales)3.52.32.92.7-0.72.1-0.22.4-0.5Non-operating Gain/Loss20193915-27.2-515-22.0-430-24.7-9Ordinary Income165120285130-21.4-35110-8.8-10240-16.1-45(% of sales)4.02.83.33.1-0.92.5-0.32.8-0.6Extra-ordinary Gain/Loss3-7-3-1-134.5-4-13-89.0-6-15-292.7-11Income Before Taxes168113282128-23.7-4096-15.1-17225-20.2-57Net Income1187319185-28.0-3365-11.1-8150-21.5-41(% of sales)2.81.72.22.0-0.81.5-0.21.7-0.5Net earning per share65.3451.39Dividend per share (forecast, full year)23.0024.002022/032023/03 ForecastFirst halfSecond halfYearFirst halfSecond halfYear172 246 210 195 285 240 114 191 150 8,524 8,543 8,650 02,0004,0006,0008,00010,00012,00001002003004002021/32022/32023/3ForecastSales (100Million Yen)Income (100Million Yen)Operating IncomeOrdinary IncomeNet IncomeSalesForecast Year Ending March 31, 2023 Itemized SalesItemized Sales※Round down less than 100 million yen100Million Yen, %横位置：0.38 cm縦位置：2.57 cm倍率：100%Year on Year Changes• For referenceYear on year changes excluding ANZCO%%横位置：0.87 cm縦位置：11.62 cm倍率：100%横位置：13.23 cm縦位置：2.99 cm倍率：100%-17-ITOHAM YONEKYU HOLDINGS INC. 2022VolumeAmountVolumeAmountVolumeAmountHam/Sausage-2.50.9-3.02.0-2.81.4Processed Food1.01.41.12.71.02.1Meat-0.2-0.10.0-1.7-0.1-0.9Beef-0.0-0.40.2-1.30.1-0.8Pork-0.10.40.0-1.3-0.1-0.5Chicken-0.3-0.5-0.1-3.5-0.2-2.1Others0.03.13.72.21.62.7Others0.1-0.7-0.32023/03 ForecastFirst halfSecond halfYearVolumeAmountVolumeAmountVolumeAmountHam/Sausage-2.51.0-2.91.9-2.71.5Processed Food0.91.41.12.91.02.2Meat-0.51.0-0.3-0.1-0.40.4Beef-0.81.1-0.60.7-0.70.9Pork-0.10.40.0-1.3-0.1-0.5Chicken-0.3-0.5-0.1-3.5-0.2-2.1Others-2.34.8-2.77.5-2.56.0Others0.225.213.42023/03 ForecastFirst halfSecond halfYearForecastChange%ChangeForecastChange%ChangeForecastChange%ChangeSales4,1774,3668,5434,2201.0424,4301.5638,6501.2106Ham/Sausage8568821,7388641.088991.9171,7641.525Processed Food7257691,4957361.4107922.9221,5282.232Meat2,4972,6025,0992,5211.0232,599-0.1-35,1200.420Others98111209980.2013925.22823813.4282022/032023/03 ForecastFirst halfSecond halfYearFirst halfSecond halfYearAppendix (Market Data)-18-ITOHAM YONEKYU HOLDINGS INC. 2022Overseas MarketsPork Carcass – DenmarkPicnic – USA横位置：0.23 cm縦位置：1.64 cm倍率：100%横位置：0.23 cm縦位置：9.76 cm倍率：100%横位置：12.65 cm縦位置：1.64 cm倍率：100%横位置：12.65 cm縦位置：9.76 cm倍率：100%Pork Bellies – USALoin – USA-19-ITOHAM YONEKYU HOLDINGS INC. 2022CPI）％（raey tsal doirep emas .sv20.018.016.014.012.010.08.06.04.02.00.0△2.0△4.0△6.0△8.0△10.0△12.0△14.0△16.0△18.0△20.0Beef※A:Domestic Loin B:Imported beefChickenFoodBeef ABeef B横：0.34縦：2.20横：12.97縦：2.20Pork※A:LoinB:CollarProcessed Meat横：0.34縦：10.38横：12.97縦：10.38Source：Ministry of Internal Affairs and Communications-20-ITOHAM YONEKYU HOLDINGS INC. 2022Ham & Sausage SupplyDomestic ProductionImports横位置：2.33 cm縦位置：2.30 cm倍率：100%横位置：13.28 cm縦位置：2.30 cm倍率：100%横位置：1.93 cm縦位置：10.6 cm倍率：105%tonSource：JAPAN HAM&SAUSAGE PROCESSORS COOPERATIVE ASSOCIATION, MoFton 「Trade Statistics」-21-ITOHAM YONEKYU HOLDINGS INC. 2022Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.Jan.Feb.Mar.YearDomesticFY2020Volume50,02545,34247,60447,99044,36243,25146,71146,99150,62938,66639,54446,076547,171(change%)0.9%-0.1%3.7%-1.6%-4.0%-3.7%-2.3%-5.0%0.7%-0.4%-4.6%-1.3%-1.5%FY2021Volume49,47144,24345,73847,94744,06143,89243,95049,56450,79838,26940,750#N/A498,682(change%)-1.1%-2.4%-3.9%-0.1%-0.7%1.5%-5.9%5.5%0.3%-1.0%3.0%#N/A-0.8%ImportFY2020Volume4,6113,0493,2473,0042,5292,7512,7572,6782,6641,8492,3082,50133,949(change%)6.4%-15.1%-5.7%-31.4%-41.3%-27.0%-29.1%-37.7%-37.9%-49.8%-21.4%-10.2%-26.7%FY2021Volume3,6492,5312,7972,7783,3152,8502,5603,0773,3162,5322,437#N/A31,843(change%)-20.8%-17.0%-13.9%-7.5%31.1%3.6%-7.2%14.9%24.5%36.9%5.6%#N/A-1.5%TotalFY2020Volume54,63548,39150,85150,99446,89146,00349,46849,66853,29340,51641,85348,577581,120(change%)4.2%-2.5%-3.9%2.1%2.0%2.2%0.8%1.4%1.7%2.4%4.0%4.3%1.3%FY2021Volume53,12046,77548,53550,72647,37646,74246,51052,64054,11540,80043,1870530,525(change%)-2.8%-3.3%-4.6%-0.5%1.0%1.6%-6.0%6.0%1.5%0.7%3.2%#N/A-0.8%Marketed Volume/Ending Inventory (Beef)Estimated Marketed Volume(Imported)Estimated Marketed Volume(Domestic)Estimated Ending Stock(Imported)横位置：0.71 cm縦位置：2.43 cm倍率：100%横位置：8.79 cm縦位置：2.43 cm倍率：100%横位置：16.86 cm縦位置：2.43 cm倍率：100%横位置：0.34 cm縦位置：10.72 cm倍率：95%●Marketed Volume (Apr-Feb) Total- 3.5%Import- 5.0%Domestic – 0.7%●Feb Ending inventory (Y on Y) Import+ 6.1%（119,414ｔ）Data：Ministry of Agriculture, Fishery and Forestry,Ministry of Finance-22-ITOHAM YONEKYU HOLDINGS INC. 2022Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.Jan.Feb.Mar.Year【Estimated M arketed Volume】　TonTotalFY202080,73069,26778,40586,25174,01477,36882,64688,13683,05066,67762,58781,223930,354FY202183,50168,92073,80378,21574,20068,54978,34183,25682,57565,06463,035#N/A819,459ImportFY202054,66844,30150,06555,74848,68651,28653,89155,40753,17342,10539,07353,784602,187FY202155,40344,07948,06949,73449,46943,17850,72349,42451,50739,46639,661#N/A520,713DomesticFY202026,06224,96628,33930,50325,32826,08228,75432,72929,87724,57223,51427,439328,165FY202128,09824,84225,73428,48224,73225,37127,61733,83231,06825,59823,374#N/A298,747【Estimated Ending Stocks】　TonTotalFY2020141,987147,770147,453144,076142,505136,001133,096127,612124,502126,325125,067117,475#N/AFY2021117,622123,233127,791130,389134,775142,769147,567140,348133,882134,515133,485#N/A#N/AImportFY2020130,495136,234136,878133,770132,291125,263122,325116,327112,403114,303112,517104,931#N/AFY2021104,824110,378114,528116,799121,091128,479132,959126,186120,374121,305119,414#N/A#N/ADomesticFY202011,49211,53610,57510,30610,21410,73810,77111,28512,09912,02212,55012,544#N/AFY202112,79812,85513,26313,59013,68414,29014,60814,16213,50813,21014,071#N/A#N/AMarketed Volume/Ending Inventory (Pork)Estimated Marketed Volume(Imported)Estimated Marketed Volume(Domestic)Estimated Ending Stock(Imported)横位置：0.71 cm縦位置：2.43 cm倍率：100%横位置：8.79 cm縦位置：2.43 cm倍率：100%横位置：16.86 cm縦位置：2.43 cm倍率：100%横位置：0.34 cm縦位置：10.72 cm倍率：95%●Marketed Volume (Apr-Feb) Total+ 1.5%Import+ 2.4%Domestic + 0.7%●Feb Ending inventory (Y on Y) Import- 3.3%（156,035ｔ）Data：Ministry of Agriculture, Fishery and Forestry,Ministry of Finance-23-ITOHAM YONEKYU HOLDINGS INC. 2022Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.Jan.Feb.Mar.Year【Estimated M arketed Volume】　TonTotalFY2020167,907139,325152,572158,510141,115144,946161,335158,952160,519151,043136,010155,1031,827,336FY2021176,016143,136146,806149,081145,399150,310159,236167,066164,218153,283143,488#N/A1,698,039ImportFY202085,82265,80182,54182,80271,99872,53780,94679,77479,15574,38662,94172,476911,179FY202197,47970,61472,41276,40373,21074,29381,91985,15883,54174,14869,824#N/A859,001DomesticFY202082,08573,52370,03175,70869,11772,40980,38879,17881,36476,65773,06982,627916,155FY202178,53772,52274,39372,67872,18976,01677,31781,90880,67779,13673,664#N/A839,037【Estimated Ending Stocks】　TonTotalFY2020210,137223,945235,742235,073225,452220,847213,071204,188194,989188,311182,564184,274#N/AFY2021184,636185,475187,729184,569188,461187,419182,807176,355168,588177,272179,196#N/A#N/AImportFY2020200,821214,884211,865204,074200,507193,386184,855175,578167,897160,131161,399157,880#N/AFY2021159,043159,623162,439160,643165,573165,491161,448154,751145,676154,046156,035#N/A#N/ADomesticFY202023,12420,85823,20821,37820,34019,68519,33319,41120,41422,43322,87524,104#N/AFY202125,59325,85225,29023,92622,88821,92821,35921,60422,91223,22623,161#N/A#N/AMarketed Volume/Ending Inventory (Chicken)Estimated Marketed Volume(Imported)Estimated Marketed Volume(Domestic)Estimated Ending Stock(Imported)横位置：0.71 cm縦位置：2.43 cm倍率：100%横位置：8.79 cm縦位置：2.43 cm倍率：100%横位置：16.86 cm縦位置：2.43 cm倍率：100%横位置：0.34 cm縦位置：10.72 cm倍率：95%●Marketed Volume (Apr-Feb) Total+ 2.9%Import+ 9.5%Domestic + 0.8%●Feb Ending inventory (Y on Y) Import- 0.3%（129,272ｔ）Data：Ministry of Agriculture, Fishery and Forestry,Ministry of Finance-24-ITOHAM YONEKYU HOLDINGS INC. 2022Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.Jan.Feb.Mar.Year【Estimated M arketed Volume】　TonTotalFY2020186,763174,691187,772190,554171,390174,413200,076189,036202,882177,450176,629191,0062,222,663FY2021192,388183,120187,150189,466179,837186,748195,208199,148215,921182,547180,055#N/A2,091,588ImportFY202041,53232,34646,68263,18541,78742,19152,19248,17649,73343,66345,33950,299557,125FY202155,42346,57750,49152,74849,22549,05050,58851,30960,92244,99243,511#N/A554,836DomesticFY2020145,231142,335141,090127,369129,603132,222147,884140,860153,149133,787131,290140,7071,665,527FY2021136,965136,543136,659136,718130,612137,698144,620147,839154,999137,555136,544#N/A1,536,752【Estimated Ending Stocks】　TonTotalFY2020171,702169,368170,786170,149167,132166,214160,947157,700151,091156,031157,208163,802#N/AFY2021161,412162,167155,848148,270146,306141,357142,877148,227149,901158,303163,173#N/A#N/AImportFY2020144,500148,263152,234140,627139,153138,438134,141131,274124,252129,519129,694135,022#N/AFY2021129,756129,408121,729113,731111,440107,584108,208114,671114,420123,211129,272#N/A#N/ADomesticFY202027,20221,10518,55229,52227,97927,77626,80626,42626,83926,51227,51428,780#N/AFY202131,65632,75934,11934,53934,86633,77334,66933,55635,48135,09233,901#N/A#N/AThe current plans, forecasts, strategies and other items contained in this presentation include our forecasts for business results.These forecasts are not historical facts; they are our judgment based on currently available information.We do not guarantee these forecast business results, and they contain elements of risk and uncertainty.The purpose of this presentation is not to solicit investment, but to give all investors a deeper understanding of Itoham Yonekyu Holdings.We have taken care over the content of this presentation, but we do not accept any responsibility for errors in the content, tampering by third parties,or errors that may occur during downloading.-25-ITOHAM YONEKYU HOLDINGS INC. 2022