This document has been prepared in accordance with accounting principles and practices generally accepted in Japan, and translated for reference only from the original Japanese version. The Company gives no warranty with respect to its correctness.

The original disclosure in Japanese was released on August 4, 2022

Takara Holdings Inc.


Notice Concerning the Revision of Consolidated Business Results Forecast and Dividend Forecast
 (Increased Dividend) for the Fiscal Year Ending March 31, 2023

Takara Holdings is revising the consolidated business results forecasts and the dividend forecast that it released on May 12, 2022, for the fiscal year ending March 31, 2023 (from April 1, 2022 to March 31, 2023) as stated below. These revisions were based on consideration of recent performance trends.


1.  Revision of the business results forecast
(1) Revised figures for the business results forecast for the second quarter ending September 30,2022 (from April 1, 2022, to September 30, 2022)

(Millions of yen / %)

(2) Revised figures for the business results forecast for the fiscal year ending March 31, 2023 (from April 1, 2022, to March 31, 2023)

(Millions of yen / %)

(3) Reason for revision

 With regard to the net sales for the fiscal year ending March 31, 2023, at the Takara Shuzo International Group, on top of the eating and drinking establishment market in the Japanese Food Wholesale Business in overseas markets that is performing strong, the sales through the retail channels are solid as well, and the Overseas Alcoholic Beverages Business is also expected to perform well, with the exception of China, which is under strict COVID-19 regulations. Moreover, net sales are expected to exceed the initial forecast, partially due to the depreciation of the yen. Takara Shuzo plans to revise its prices in October, therefore demand is expected to rise ahead of schedule in September, resulting in an increase in sales in the first half of the fiscal year and a decrease in sales in the second half. Nevertheless, as the full-year forecast is expected to unfold almost exactly as planned, overall consolidated net sales for the Takara Group are expected to exceed the initial forecast.

 In terms of profit, the Takara Shuzo International Group expects gross profit to increase due to an increase in net sales, and operating income is expected to exceed the initial forecast, despite an increase in SG&A expenses. Takara Shuzo expects operating income to be in line with the plan, as increases in costs due to soaring energy and raw material prices, as well as the depreciation of the yen, will be offset by price revisions and new products. As a result, operating income, ordinary income, and net income attributable to owners of the parent are expected to exceed the initial forecast for the Takara Group as a whole.

 Moreover, the forecast for the Takara Bio Group remains unchanged from the previous forecast announced on May 12, 2022.

2. Revision of the dividend forecast
(1) Details of revision

(2) Reason for revision

 The Company’s policy on shareholder returns is to continuously pay stable dividends with a payout ratio in the high 30’s% range in line with sustainable earnings growth. Based on this upward revision of the business forecast, the Company has revised the year-end dividend forecast for the fiscal year ending March 31, 2023 from the initial forecast of ¥29 to ¥31 per share, announced on May 12, 2022


*  The above-mentioned forecasts have been prepared based on the information available as of the date of announcement of this document and could differ from the actual results, etc.