TOKYO, July 31, 2015 - Ajinomoto Co., Inc. (“Ajinomoto Co.”) announced as an important post-balance sheet event in its financial statement for the fiscal year ended March 31, 2015, which was released on May 8, 2015, that on April 23, 2015 it completed the share acquisition referenced in its February 27, 2015 news release “Ajinomoto Co., Inc. to Acquire All Shares of Ajinomoto General Foods, Inc. Held by Mondelēz for JPY 27.0 Billion”.
Ajinomoto Co. announces an extraordinary gain (gain on step acquisitions) related to this acquisition in its financial statement for the first quarter ended June 30, 2015.
1. Details of Extraordinary Gain
Ajinomoto Co. recorded an unrealized gain (gain on step acquisitions) of JPY 18.0 billion associated with the acquisition of shares of Ajinomoto General Foods, Inc., which was an equity method affiliate, due to the revaluation of equity held before the additional acquisition in April 2015 to the market price as of the time of the additional acquisition.
2. Outlook for the Fiscal Year
Ajinomoto Co. is working for “Growth Driver Advancement” and “Further Reinforcement of its Business Structure”, as well as “Evolution of the Management Foundation” on which they are based, in the pursuit of “Specialty” with the aim of becoming a “Genuine Global Specialty Company” under its FY2014-2016 Medium-Term Management Plan.
Among its efforts, Ajinomoto Co. expects to incur expenses for reinforcement of its business structure during the current fiscal year including the sale of a manufacturing subsidiary for sweeteners in Europe. As a result, there is no change from the forecast for the fiscal year ending March 31, 2016, which was announced on May 8, 2015. About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 26 countries and regions, Ajinomoto Co. had net sales of JPY 1,006.6 billion (USD 9.17 billion) in fiscal 2014. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
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