Overview of Results for the Fiscal Year Ended March 31, 2005 ・Sixth consecutive annual increase in net sales and operating income ・New records for net sales, operating income, ordinary income and net income ・Full-year dividend increase of 1 yen to 13 yen per share planned

May 13, 2005 - Ajinomoto Co., Inc. (Ajinomoto; President & CEO: Kunio Egashira, Headquarters: Tokyo, Japan) today announced results for the fiscal year ended March 31, 2005, as outlined in the following table.
(Billions of yen unless otherwise noted; figures rounded down)

	Consolidated	Year-on-Year Change (%)	Non-Consolidated	Year-on-Year Change (%)
Net sales	1,073.0 [1,080.0]	3%	656.2 [665.0]	(0.4%)
Operating income	70.9 [75.0]	9%	27.2 [24.0]	66%
Ordinary income	72.1 [76.0]	6%	32.9 [28.0]	33%
Net income	44.8 [45.0]	24%	27.0 [25.0]	84%

Note: Figures in brackets are announced targets. Figures in parentheses are negative.

Ajinomoto achieved its sixth consecutive annual increase in consolidated net sales and operating income. Net sales, operating income, ordinary income and net income were the highest in Company history. In non-consolidated results, net sales were slightly lower, but operating income, ordinary income and net income were significantly higher than in the previous year.

(Billions of yen unless otherwise noted; figures rounded down)

Segment	Sales	Year-on-Year Change	Year-on-Year Change (%)	Operating Income	Year-on-Year Change	Year-on-Year Change (%)
Domestic Food Products	597.7	(0.6)	(0.1%)	32.2	5.9	23%
Overseas Food Products	160.4	18.0	13%	4.4	(2.9)	(40%)
Amino Acids	173.1	18.2	12%	26.6	0.0	－
Pharmaceuticals	80.7	1.7	2%	11.3	1.0	10%
Other	60.9	(4.0)	(6%)	3.6	(0.1)	(5%)

Note: Figures in parentheses are negative.

　Domestic Food Products sales were basically unchanged compared to the previous fiscal year. Strong performance by Cook Do and growth in sales of other products, including mayonnaise products, Pal Sweet Calorie Zero, frozen foods, coffee products, and beverages, compensated for reduced sales resulting from changes to the product lineup accompanying the merger that created J-OIL MILLS, INC. Operating income improved substantially as a result of focused marketing investment and cost reductions.
　Overseas Food Products sales increased over the previous fiscal year. Sales of AJI-NO-MOTO and flavor seasonings increased, while operating income decreased due to factors such as higher costs in the production of AJI-NO-MOTO and aggressive investment in marketing.
　Amino Acids sales increased because of higher sales of specialty chemicals, sweeteners, pharmaceutical intermediates, feed-use amino acids, and amino acids for pharmaceuticals and foods. The impact of lower prices for the feed-use amino acid Lysine, however, restrained growth in operating income.
　Pharmaceuticals sales and operating income increased over the previous fiscal year. The contribution of LIVACT Granules and treatments for lifestyle-related diseases compensated for the impact of heightened competition in the infusion market and impact of the National Health price revisions.
　For the fiscal year ending March 31, 2006, Ajinomoto forecasts consolidated net sales of 1.12 trillion yen, operating income of 75 billion yen, ordinary income of 75 billion yen, and net income of 45 billion yen. On a non-consolidated basis, Ajinomoto forecasts net sales of 700 billion yen, operating income of 18 billion yen, ordinary income of 23 billion yen, and net income of 19 billion yen. These forecasts assume a U.S. dollar/yen exchange rate of 105 yen. Ajinomoto also forecasts a full-year dividend of 14 yen per share, with an interim dividend of 7 yen per share.

For further information please contact:
Ajinomoto Co., Inc. Corporate Communications Department; Tel: +81-3- 5250-8180