Coca Cola Bottlers Japan : Consolidated Financial Summary for Fiscal Year Ended December 31, 2022 (IFRS)

This flash report is unaudited and the translation of the Japanese language version. In the event of any discrepancy, errors and/or omissions, the Japanese language version shall prevail.

Consolidated Financial Summary for

Fiscal Year Ended December 31, 2022 (IFRS)

		February 9, 2023
Listed company name: Coca-Cola Bottlers Japan Holdings Inc.	Listed stock exchanges: Tokyo
Code number: 2579	URL: https://en.ccbj-holdings.com/
Delegate:	Title: Representative Director & President	Name: Calin Dragan
Contact:	Title: Head of Controllers Senior Group Division, Finance, Name: Tatsuhiro Ishikawa Phone: [phone]

Expected date of general shareholders meeting: March 28, 2023

Expected date of the dividend payment: March 29, 2023

Expected date of submission of annual securities report: March 29, 2023

FY 2022 supplementary information: Yes

FY 2022 financial presentation: Yes

(Fractions of one million yen are rounded)

1. Consolidated financial results for the fiscal year ended December 31, 2022 (from January 1, 2022 to December 31, 2022)

(1) Consolidated financial results

Revenue

Business Income(loss)

(Percentages indicate changes over the same period in the prior fiscal year)

		Net income(loss) for
Operating	Net income(loss)	the year attributable	Total comprehensive
income(loss)	to owners of the	income(loss)
		parent

million

％

million

％

million

％

million

％

million

％

million

％

yen

yen

yen

yen

yen

yen

Dec. 31, 2022

807,430

2.7

(14,443)

－

(11,513)

－

(8,059)

－

(8,070)

－

(4,994)

－

Dec. 31, 2021

785,837

(0.8)

(14,662)

－

(20,971)

－

(2,525)

－

(2,503)

－

759

－

Net loss per share

Ratio of income to equity

Ratio of income before tax Ratio of Operating income

Diluted earnings per share attributable to owners of

to total assets

to revenue

the parent

yen

yen

％

％

％

Dec. 31, 2022

(45.00)

－

(1.7)

(1.5)

(1.4)

Dec. 31, 2021

(13.96)

－

(0.5)

(2.4)

(2.7)

Reference: Investment gain(loss) on equality method accounted for using equity method

Fiscal Year 2022: 46 million yenFiscal Year 2021: (162) million yen

*1. "Business Income" is a measure of our recurring business performance that is calculated as costs of goods and selling, general and administrative expenses are deducted from revenue, and other income and expenses which we believe are recurring in nature are added and subtracted accordingly.

2. Net loss and Net loss for the year attributable to owners of parent for FY 2021 result is a total of continuing operation and discontinued operation results.

1. Consolidated financial position

			Equity attributable to parent	Ratio of equity attributable	Equity attributable to
	Total assets	Total equity	owners of the parent per
			owners	to parent owners	share
	million yen	million yen	million yen	％	yen
Dec. 31, 2022	826,737	476,358	476,216	57.6	2,655.38
Dec. 31, 2021	867,111	492,451	492,320	56.8	2,745.12

(3) Consolidated cash flows

		Net cash from (used in)		Cash and cash equivalents
	Operating activities	Investing activities	Financing activities	at end of year
Year ended	million yen	million yen	million yen	million yen
Dec. 31, 2022	42,717	(23,090)	(46,050)	84,074
Dec. 31, 2021	35,982	15,271	(67,134)	110,497

2. Dividends

		Dividends per share		Total dividend	Dividend	Ratio of dividends
(Record date)	1Q	2Q	3Q	Year-end	Annual	payments	payout ratio	to net assets
（annual）	(consolidated)	(consolidated)
Year ended	yen	yen	yen	yen	yen	million yen	%	%
Dec. 31, 2021	－	25.00	－	25.00	50.00	8,967	－	1.8
Dec. 31, 2022	－	25.00	－	25.00	50.00	8,967	－	1.9
Dec. 31, 2023	－	25.00	－	25.00	50.00		－
(forecast)

3. Forecast of consolidated financial results 2023 (from January 1, 2023 to December 31, 2023)

		(Percentages indicate changes over the same period in the prior fiscal year)
				Net income for the year	Earnings per
Revenue	Business Income	Operating income	Net income	attributable to owners
				of the parent	share

million yen	％	million	％	million	％	million
yen	yen	yen

Full year	847,100	4.9 (5,000)	－ (5,300)	－	(4,300)
2023

Notes

1. Changes in significant subsidiaries during the current period:
2. Changes in accounting policies, changes in accounting estimates:
3. 1. Changes in accounting policies as required by IFRS:
   2. Changes other than those in 1) above
   3. Changes in accounting estimates

％	million yen	％	yen
－	(4,300)	－	(23.98)

: None

: None

: None

: Yes

• For details, please refer to "3. Consolidated Financial Statements and Notes (5) Notes to Consolidated Financial Statements (Changes in Accounting Estimates)" on page 16 of the attached materials.

1. Number of outstanding shares (common shares)

1. Number of outstanding shares at the end of period (including treasury shares):

FY 2022: 206,268,593 shares

FY 2021: 206,268,593 shares

1. Number of treasury shares: FY 2022: 26,928,478 shares FY 2021: 26,924,631 shares
2. The number of average shares outstanding: FY 2022: 179,342,220 shares
   FY 2021: 179,345,969 shares

(Reference) Summary of the Non-consolidated Financial Results

1. Non-consolidated financial results for the fiscal year ended December 31, 2022 (from January 1, 2022 to December 31, 2022)

1. Non-consolidatedfinancial results

			(Percentages indicate changes over the same period in the prior fiscal year)
	Operating revenue	Operating income	Recurring income	Net income
Year ended	million yen	%	million yen	%	million yen	%	million yen	%
Dec. 31, 2022	5,640	(2.7)	1,927	25.1	1,869	55.6	1,562	(91.5)
Dec. 31, 2021	5,797	(69.8)	1,540	(89.6)	1,201	(91.6)	18,395	16.9
	Earnings per	Diluted earnings per
	share		share
		yen		yen
Dec. 31, 2022		8.71		8.68
Dec. 31, 2021		102.57		102.33

(2) Non-consolidated financial position

			Net assets (excl. non-	Net assets
	Total assets	Net assets	controlling interests) to	(excl. non-controlling
			total assets	interests) per share
As of	million yen	million yen	%	yen
Dec. 31, 2022	502,941	344,402	68.5	1,920.38
Dec. 31, 2021	543,410	351,812	64.7	1,961.66
Reference: Net assets (excl. non-controlling interests)
Fiscal Year 2022: 344,402 million yen	Fiscal Year 2021: 351,812 million yen

• The consolidated financial summary is not subject to audit procedures conducted by certified public accountant or audit firm.
• Explanation regarding appropriate use of the forecast, other special instructions

Figures in the above forecast are based on information available to management at the time of issuance of this report, and the actual results may be changed due to a number of inherent uncertainties in the forecast. Furthermore, please refer to "1. Overview of Operating Results, etc. (1) Analysis of Operating Results (Outlook for next fiscal year)" on page 5 for matters relating to performance forecasts.

Table of contents

	Page
1. Overview of Operating Results, etc. …………………………………………………………………………………………	2
(1) Analysis of Operating Results ……………………………………………………………………………………………	2
(2) Analysis of Financial Position ……………………………………………………………………………………………	6
(3) Basic Policies for Income Distribution and Dividends for FY2022 and FY2023……………………………………….	6
2. Basic Concept Concerning the Selection of Accounting Standards………………………………………………………….	7
3. Consolidated Financial Statements and Notes ……………………………………………………………………………….	8
(1) Consolidated Statement of Financial Position…………………………………………………………………………….	8
(2) Consolidated Statements of Income and Comprehensive Income ……………………………………………………….	10
(Consolidated Statements of Income) ……………………………………………………………………………………	10
(Consolidated Statements of Comprehensive Income) …………………………………………………………………. 11
(3) Consolidated Statements of Changes in Equity …………………………………………………………………………	12
(4) Consolidated Statements of Cash Flows …………………………………………………………………………………	14
(5) Notes to Consolidated Financial Statements ……………………………………………………………………………	16
(Notes Relating to Going Concern Assumption) ………………………………………………………………………	16
(Changes in Accounting Policies) ………………………………………………………………………………………	16
(Segment Information, etc.) ……………………………………………………………………………………………	16
(Stock Per Share Information) ……………………………………………………………………………………….…	16
(Significant Subsequent Events) …………………………………………………………………………………………	16
4. Others …………………………………………………………………………………………………………………………	17
(1) Changes in Key Consolidated Management Indicators ………………………………………………………………	17
(2) Officer Change (as of March 28, 2023) ………………………………………………………………………………	18

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1. Overview of Operating Results, etc.

1. Analysis of Operating Results (Overview of Full-year 2022 Results)

Coca-Cola Bottlers Japan Holdings Inc. ("CCBJH," the "Company," or "we") have announced full-year results for the fiscal year (January 1, 2022, to December 31, 2022).

In this fiscal year, the total domestic nonalcoholic ready-to-drink (NARTD) beverage industry volume is estimated to have grown by 4% versus the previous fiscal year. This was due to demand being supported by recovery in the number of people returning to the streets of Japan with the easing of COVID restrictions, revitalization of economic activity, and a record-breaking heat wave contributing to volume growth, while the price revisions implemented by various beverage companies impacted demand. On the other hand, the business environment remained uncertain and challenging as the severe competitive environment continued and rising commodity and utility prices, as well as the rapid acceleration of the yen's depreciation impacted business and consumer behaviors.

Under these circumstances, we have positioned 2022 as "The year of building a foundation for sustainable growth" and have been working to build a foundation for steady and sustainable growth as well as to promote further transformation. In commercial activities, we worked to grow sales volume and sales revenue by introducing new products, responding to diversifying consumer needs, and executing effective campaigns to capture opportunities for the recovery in traffic. In addition, to respond to current cost pressures and to strengthen the earnings foundation for the future, we revised prices for our products ahead of the industry despite the continued severe competitive environment. For the price revisions, we have carefully negotiated with customers and made efforts to reflect revised prices as soon as possible, particularly for vending machines. In manufacturing and supply chain fields, while faced with rising commodity and utility prices, we have been building a supply chain that can flexibly respond to sudden changes in demand by revamping our Sales and Operations Planning process and leveraging our Saitama and Akashi Mega Distribution Centers, two of the largest automated distribution centers in Japan by storage and shipping capacities. Although we experienced a surge in demand during the summer-the period of peak demand- coinciding with a recovery in traffic and the heat wave, our efforts resulted in a stable supply of products. We also worked to reduce costs through efficient use of manufacturing facilities and reviewing our distribution network.

We are realizing ESG targets that are based on creating shared value with society. To achieve our 2030 Package Vision, which aims for a World Without Waste, we have been working on the design aspects of product packaging, such as expanding the use of 100% recycled PET bottles and establishing a recycling scheme in collaboration with local governments and partner companies for the steady collection of high-quality packages. In addition, for further recycling of resources, we have established the CAN to CAN horizontal recycling system of aluminum cans and started manufacturing and selling products produced from recycled materials. To reduce greenhouse gas (GHG) emissions, we have enhanced our climate-related financial disclosure and promoted activities based on the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD). In other efforts to contribute to local communities through business, we have implemented water source conservation activities, donated products to food banks, and placed vending machines to support local activities. As part of our efforts to promote diversity, we have worked to raise understanding of LGBTQ through internal and external awareness-raising opportunities to create a better working environment. Such ESG initiatives have been positively appraised, and for the fifth consecutive year we have been selected as a component of the DJSI Asia Pacific, a leading global ESG investment index.

Details for the fiscal year earnings are as follows. Please also refer to our earnings presentation material available on the Company IR website (https://en.ccbj-holdings.com/ir/library/presentation.php) to be used in our earnings conference call on Friday, February 10, 2023 at 1:30 PM (JST). These will include details of the results and outlook. The earnings presentation audio webcast will be available live and on demand through our company website.

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