Kirin : SUMMARY OF CONSOLIDATED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2021 (UNDER IFRS) (UNAUDITED)

KIRIN HOLDINGS COMPANY, LIMITED

SUMMARY OF CONSOLIDATED FINANCIAL RESULTS

FOR THE SIX MONTHS ENDED JUNE 30, 2021 (UNDER IFRS)

(UNAUDITED)

August 10, 2021

(English Translation)

Fiscal year ending December 31, 2021

KIRIN HOLDINGS COMPANY, LIMITED

NAKANO CENTRAL PARK SOUTH, 10-2, Nakano 4-chome,Nakano-ku, Tokyo, Japan (URL https://www.kirinholdings.com/en/)

Code No.:	2503
Shares Listed:	Tokyo, Nagoya, Sapporo and Fukuoka
Representative:	Mr. Yoshinori Isozaki, President and CEO
For further information, please contact:	Mr. Nobuhiko Hori,
	General Manager of Corporate Communications Department
	Telephone: [phone] from overseas

Submission date of quarterly securities report scheduled:	August 11, 2021
Commencement date of dividend distribution scheduled:	September 3, 2021
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 first six months of the current fiscal year (January 1, 2021 - June 30, 2021)

	[Unit: Japanese yen (¥)]
(1) Results of operations (cumulative):	(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)	(%)
Six months ended
June 30, 2021	864,024	(1.0)	71,914	2.9	56,509	0.9
June 30, 2020	872,469	(6.2)	69,860	(23.1)	56,001	147.2
	Profit	Percentage	Profit attributable to	Percentage	Total	Percentage
	comprehensive
		change	owners of the Company	change	change
		income
	(¥ millions)	(%)		(¥ millions)	(%)	(%)
		(¥ millions)
Six months ended
June 30, 2021	37,548	(22.9)	23,748	(28.7)	74,766	257.8
June 30, 2020	48,681	328.6	33,305	－	20,898	－
	Basic earnings	Diluted earnings
	per share	per share
	(¥)	(¥)
Six months ended
June 30, 2021	28.49	28.48
June 30, 2020	39.33	39.31
Reference: Operating profit		Six months ended June 30, 2021	¥41,824 million	(15.4%)
		Six months ended June 30, 2020	¥49,441 million	282.2%

• 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.

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(2) Financial position:

	Total assets	Total equity	Equity	Equity ratio
			attributable to	attributable to
			owners of the	owners of the
			Company	Company
	(¥ millions)	(¥ millions)	(¥ millions)	(%)
As of
June 30, 2021	2,429,998	1,138,169	872,384	35.9
December 31, 2020	2,459,363	1,095,939	838,584	34.1

2. Dividends

			Annual dividends
	First quarter	Second quarter	Third quarter	Year-end	Total
	(¥)	(¥)	(¥)	(¥)	(¥)
Fiscal year ended December 31, 2020	－	32.50	－	32.50	65.00
Fiscal year ending December 31, 2021	－	32.50
Fiscal year ending December 31, 2021			－	32.50	65.00
(Forecast)

Note: Revision of the forecast from recently announced figures: None

3. Forecast consolidated business results for the current fiscal year (January 1, 2021 - December 31, 2021)

(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	1,870,000	1.1	170,000	4.9	158,000	26.9
December 31, 2021
		Profit	Percentage	Profit attributable to	Percentage	Basic earnings
		owners of the
			change	change	per share
			Company
		(¥ millions)	(%)	(%)	(¥)
		(¥ millions)
Fiscal year ending	112,500	12.7	86,500	20.2	103.77
December 31, 2021
Note:	Revision of the forecast from recently announced figures: Yes
Reference:	Operating profit		Fiscal year ending December 31, 2021	¥125,500 million	21.9%

The impact of spread of COVID-19 is reflected in the consolidated business forecast above, but it is subject to change depending on the situation.

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* Notes

(1)	Changes in significant subsidiaries for the six months ended June 30, 2021:	Yes
	(Changes in specified subsidiaries accompanying change in scope of consolidation)
	Newly included: －	Excluded: 2 companies
		Lion-Dairy & Drinks Pty Ltd
		Berri Pty 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:		Yes

For details, please see "NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS (CHANGES IN ACCOUNTING ESTIMATES)" on page 10.

(3) Number of shares outstanding (ordinary shares)
i. Number of shares outstanding at the end of the period (including treasury shares)
As of June 30, 2021	914,000,000 shares
As of December 31, 2020	914,000,000 shares
ii. Number of treasury shares at the end of the period
As of June 30, 2021	80,407,792 shares
As of December 31, 2020	80,385,352 shares
iii. Average number of shares during the period (cumulative from the beginning of the fiscal year)
For the six months ended June 30, 2021	833,607,211 shares
For the six months ended June 30, 2020	846,861,187 shares

Note: Number of treasury shares at June 30, 2021 and December 31, 2020 includes 388,000 shares held in the BIP

(Board Incentive Plan) Trust. These shares are excluded in calculation of the average number of shares during the period.

• The summary of quarterly consolidated financial results is not subject to a quarterly review 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, Tuesday, August 10, and will post the presentation materials from the financial results presentation to be held on Wednesday, August 11, 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.com/en/investors/

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ATTACHED MATERIALS

INDEX

1. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS..................................................................................	2
(1) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION.......................................................	2
(2) CONDENSED QUARTERLY CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND COMPREHENSIVE INCOME...	4
(3) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY.......................................................	6
(4) CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF CASH FLOWS....................................................................	8
(5) NOTES TO CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS.........................................................	10
(GOING CONCERN ASSUMPTION).........................................................................................................................................	10
(CHANGES IN ACCOUNTING ESTIMATES)............................................................................................................................	10
2. OTHER
(1) CONSOLIDATED FORECASTS................................................................................................................................................	11

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1. CONDENSED QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS

1. CONDENSED QUARTERLY CONSOLIDATED STATEMENT OF FINANCIAL POSITION

		(¥ millions)
	At December 31, 2020	At June 30, 2021
Assets
Non-current assets
Property, plant and equipment	521,919	527,690
Goodwill	245,709	230,808
Intangible assets	209,291	212,536
Equity-accounted investees	387,467	403,728
Other financial assets	105,740	100,873
Other non-current assets	21,162	21,241
Deferred tax assets	101,533	105,332
Total non-current assets	1,592,821	1,602,208
Current assets
Inventories	217,176	245,194
Trade and other receivables	372,146	307,051
Other financial assets	7,948	8,477
Other current assets	33,941	23,164
Cash and cash equivalents	161,667	243,903
(Sub-total)	792,878	827,790
Assets held for sale	73,664	－
Total current assets	866,542	827,790
Total assets	2,459,363	2,429,998

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