Q1 2025 Ajinomoto Co Inc Earnings Call Transcript
Key Points
- Ajinomoto Co Inc (AJINY) achieved record profit and sales for the first quarter of fiscal 2023.
- The Seasonings and Foods segment, particularly Sauce and Seasonings overseas, showed solid performance.
- The Frozen Foods segment saw growth in main products due to continued brand investment.
- The Healthcare and Other segment, especially Functional Materials, recorded significant increases in both revenue and profit.
- Strategic investments are being made to achieve the 2030 roadmap, indicating a long-term growth strategy.
- Profit attributable to owners of the parent remained at 88% of the last fiscal year due to a transient increase in tax burden.
- The Umami seasoning for processing and other Food businesses recorded a decline due to unit price decline.
- Domestic business in Japan saw a slight decrease in profit due to negative impacts from the coffee segment.
- The Frozen Foods segment recorded an overall JPY8 billion decrease in profit, particularly in the domestic Japanese market.
- Shared company-wide expenses increased significantly due to strategic investments, impacting overall profitability.
(Interpreted)
Good afternoon, everyone. Once again, this is Koji from the IR office of Ajinomoto. Now without further ado, we would like to explain the first quarter results for fiscal 2023. If you can open page 6, this is a summary of the first quarter.
For the first quarter, we achieved an increase in both revenue and profit. Revenue business profit we achieved the record profit and sales for the first quarter and for business profit, if we exclude the impact of Forge acquisition, its business profit increased by 7% compared to the same period of 2023. In the Seasonings and foods segment, Sauce and Seasonings overseas remain very solid.
In Frozen Foods segment, we have continued brand investment in accordance with the plan from the start of the year. So this led to achieving growth in main products.
In Healthcare and Other segment, revenue increased and profit increased significantly. Functional Materials, in particular, recorded a significant increase in both revenue and profit. Bio-Pharma Services,
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