Summary of Consolidated Financial Results for The
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KIRIN HOLDINGS COMPANY, LIMITED February 14, 2019 SUMMARY OF CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2018 (UNDER IFRS) (UNAUDITED) (English Translation) Fiscal year ended December 31, 2018 KIRIN HOLDINGS COMPANY, LIMITED NAKANO CENTRAL PARK SOUTH, 10-2, Nakano 4-chome, Nakano-ku, Tokyo, Japan (URL https://www.kirinholdings.co.jp/english/) Code No.: 2503 Shares Listed: Tokyo, Nagoya, Sapporo and Fukuoka Representative: Mr. Yoshinori Isozaki, President and CEO For further information, please contact: Mr. Tetsuya Fujiwara, Director of Group Corporate Communications Telephone: +81-3-6837-7015 from overseas Scheduled date of general meeting of shareholders held: March 28, 2019 Commencement date of dividend distribution scheduled: March 29, 2019 Submission date of securities report scheduled: March 28, 2019 Preparation of supplementary documents to the financial results: Yes Holding of financial results presentation (for institutional investors and analysts): Yes 1. Consolidated business results and financial position for the current fiscal year (January 1, 2018 – December 31, 2018) [Unit: Japanese yen (¥)] (1) Results of operations: (Amounts are rounded to the nearest ¥1 million.) (Percentage change compares current results with those of the same period of the previous year) Revenue Percentage Normalized Percentage Profit Percentage change operating profit change before tax change (¥ millions) (%) (¥ millions) (%) (¥ millions) (%) Fiscal year ended December 31, 2018 1,930,522 3.6 199,327 2.4 246,852 5.6 December 31, 2017 1,863,730 0.5 194,609 6.9 233,711 12.3 Total Profit Percentage Profit attributable to Percentage Percentage comprehensive change change change owners of the Company income (¥ millions) (%) (¥ millions) (%) (¥ millions) (%) Fiscal year ended December 31, 2018 195,211 (26.8) 164,202 (32.1) 127,652 (59.4) December 31, 2017 266,745 60.4 241,991 62.5 314,662 207.1 Basic earnings Diluted earnings Ratio of profit to equity Ratio of Ratio of normalized per share per share attributable to owners profit before tax operating profit of the Company to total assets to revenue (¥) (¥) (%) (%) (%) Fiscal year ended December 31, 2018 183.57 183.53 17.5 10.5 10.3 December 31, 2017 265.17 265.14 29.1 9.7 10.4 Reference: Share of profit of equity-accounted investees Fiscal year ended December 31, 2018 ¥28,448 million Fiscal year ended December 31, 2017 ¥26,519 million - i - Operating profit Fiscal year ended December 31, 2018 ¥198,322 million (6.0%) Fiscal year ended December 31, 2017 ¥211,000 million 7.3% Ratio of operating profit to revenue Fiscal year ended December 31, 2018 10.3% Fiscal year ended December 31, 2017 11.3% * Normalized operating profit is a profit indicator for measuring recurring performance which is calculated by deducting cost of sales and selling, general and administrative expenses from revenue. Note: In accordance with the settlement of the provisional accounting treatment related to the acquisition of a business conducted in the fiscal year ended December 31, 2017, the financial figures for that year have been revised retroactively. (2) Financial position: Total assets Total equity Equity Equity ratio Equity per share attributable to attributable to attributable to owners of the owners of the owners of the Company Company Company (¥ millions) (¥ millions) (¥ millions) (%) (¥) As of December 31, 2018 2,303,624 1,200,920 916,080 39.8 1,043.37 December 31, 2017 2,398,572 1,229,139 957,828 39.9 1,049.55 Note: In accordance with the settlement of the provisional accounting treatment related to the acquisition of a business conducted in the fiscal year ended December 31, 2017, the financial figures for that year have been revised retroactively. (3) Cash flows: Cash flows Cash flows Cash flows Cash and cash from operating from investing from financing equivalents at end of activities activities activities year (¥ millions) (¥ millions) (¥ millions) (¥ millions) Fiscal year ended December 31, 2018 198,051 47,389 (226,699) 173,102 Fiscal year ended December 31, 2017 221,710 63,214 (182,163) 161,987 2. Dividends Annual dividends First quarter Second quarter Third quarter Year-end Total (¥) (¥) (¥) (¥) (¥) Fiscal year ended December 31, 2017 – 20.50 – 25.50 46.00 Fiscal year ended December 31, 2018 – 24.00 – 27.00 51.00 Fiscal year ending December 31, 2019 – 31.50 – 31.50 63.00 (Forecast) Total amount of Dividend Ratio of dividends to dividends pay-out ratio equity attributable to owners of the (¥ millions) (%) Company (%) Fiscal year ended December 31, 2017 41,980 17.3 5.0 Fiscal year ended December 31, 2018 45,258 27.8 4.9 Fiscal year ending December 31, 2019 46.1 (Forecast) - ii - 3. Forecast consolidated business results for the next fiscal year (January 1, 2019 - December 31, 2019) (Percentage change compares forecast results with actual results of the previous year) Revenue Percentage Normalized Percentage Profit Percentage change operating profit change before tax change (¥ millions) (%) (¥ millions) (%) (¥ millions) (%) Fiscal year ending 2,000,000 3.6 190,000 (4.7) 190,000 (23.0) December 31, 2019 Profit attributable to Profit Percentage Percentage Basic earnings owners of the change change per share Company (¥ millions) (%) (%) (¥) (¥ millions) Fiscal year ending 139,000 (28.8) 120,000 (26.9) 136.67 December 31, 2019 Reference: Operating profit Fiscal year ending December 31, 2019 ¥162,500 million (18.1%) - iii - * Notes (1) Changes in significant subsidiaries for the fiscal year ended December 31, 2018 (Changes in specified subsidiaries accompanying change in scope of consolidation): Yes Newly included: - Excluded: 1 company Great Northern Developments Limited (2) Changes in accounting policies and changes in accounting estimates i. Changes in accounting policies required by IFRS: None ii. Changes in accounting policies due to other reasons: None iii. Changes in accounting estimates: None (3) Number of shares outstanding (ordinary shares) i. Number of shares outstanding at the end of the period (including treasury shares) As of December 31, 2018 914,000,000 shares As of December 31, 2017 914,000,000 shares ii. Number of treasury shares at the end of the period As of December 31, 2018 36,001,121 shares As of December 31, 2017 1,394,366 shares iii. Average number of shares during the period For the fiscal year ended December 31, 2018 894,506,056 shares For the fiscal year ended December 31, 2017 912,579,083 shares * The summary of consolidated financial results is not subject to audit by certified public accountants or an audit corporation. * Information about proper usage of forecast business results, and other special instructions (1) The statements concerning future performance that are presented in this document are based on judgments using information available to Kirin Holdings and the Kirin Group as of the release date of this material. Certain risks and uncertainties could cause the results of Kirin Holdings and the Kirin Group to differ materially from any projections presented herein. These risks and uncertainties include, but are not limited to, the economic circumstances surrounding the Company’s businesses, market trends, and exchange rates. (2) The Company will post the Supplementary Documents to the Financial Results today, Thursday, February 14, and will post the presentation materials from the financial results presentation to be held on Friday, February 15, the presentation content (video) and the main Q&A at the meeting as soon as possible on the Company’s website. (URL of the Company’s website) https://www.kirinholdings.co.jp/english/ir/event/explain/index.html - iv - ATTACHED MATERIALS INDEX 1. KIRIN GROUP’S CURRENT BUSINESS PERFORMANCE ........................................................................................................... 2 (1) STATEMENT OF BUSINESS ACTIVITIES AND RESULTS ...................................................................................................... 2 (2) FINANCIAL POSITION .............................................................................................................................................................. 8 (3) BASIC POLICY AND DISTRIBUTION OF PROFITS AND DIVIDEND FOR 2018 AND 2019 ..................................................... 9 2. BASIC RATIONALE FOR SELECTION OF ACCOUNTING STANDARDS ..................................................................................... 9 3. CONSOLIDATED FINANCIAL STATEMENTS ............................................................................................................................. 10 (1) CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................................................................................... 10 (2) CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME ................................................ 12 CONSOLIDATED STATEMENT OF PROFIT OR LOSS .......................................................................................................... 12 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ......................................................................................... 13 (3) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ................................................................................................... 14 (4) CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................................................ 16 (5) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ....................................................................................................