Summary of Interim Period Earnings - Operating Income Decreased Due to Lower Income from Feed-Use Amino Acids and the Exclusion of Calpis Co., Ltd. - and Revisions to the Consolidated Performance Forecast for the Fiscal Year Ending March 31, 2014

TOKYO, November 6, 2013 - Ajinomoto Co., Inc. (Ajinomoto Co.) today announced its results for the interim period (April 1 - September 30) of the fiscal year ending March 31, 2014, as outlined in the following table.

The interim dividend will be JPY 10 per share, with annual dividends per share for the fiscal year scheduled to total JPY 20.

Despite the positive effect of exchange rates during the interim period ended September 30, 2013, net sales decreased JPY 18.8 billion compared with the previous interim period to JPY 487.0 billion, due in part to the absence of sales of Calpis Co., Ltd. (Calpis) products from the third period of the previous fiscal year. Operating income decreased JPY 7.3 billion to JPY 29.5 billion due to factors including lower income from the feed-use amino acids business, in addition to the impact from Calpis products. Net income decreased JPY 18.9 billion due to an extraordinary gain of JPY 27.7 billion on transfer of the benefit obligation relating to the employees’ pension fund in the previous fiscal year. Consolidated segment information is summarized in the following table.

In the domestic food products business, sales of household-use products, mainly Cook Do®, were firm. However, sales decreased due to the effect of the disposal of Calpis shares. Operating income decreased due to the effect of the disposal of Calpis shares and increases in expenses including costs associated with higher purchasing prices of raw materials and other items. In the overseas food products business, sales increased due to factors including growth in sales of umami seasoning AJI-NO-MOTO®, flavor seasonings and instant noodles, in addition to the positive effect of exchange rates. Operating income increased overall, as growth in income from the consumer foods business compensated for the impact of lower selling prices for umami seasonings for the food processing industry and other factors. In the bioscience products and fine chemicals business, sales increased with the addition of sales of Ajinomoto Althea, Inc., which became a consolidated subsidiary in the first quarter, and growth in sales of amino acids for pharmaceuticals and foods and specialty chemicals. However, operating income decreased substantially with the impact of a drop in selling prices of feed-use amino acids. In the pharmaceuticals business, sales decreased substantially with the spin-off of the infusion and dialysis business units as AY PHARMACEUTICALS Co., Ltd., which became an equity-method affiliate from the second quarter. Despite the reduction of selling, general and administrative expenses and the launch of cost reduction activities, operating income decreased due to a decrease in sales of products through business tie-ups.

Based on recent performance trends and other factors, Ajinomoto Co. has revised its consolidated performance forecast for the fiscal year ending March 31, 2014 (April 1, 2013 - March 31, 2014), which was announced on May 8, 2013, as outlined in the following table.

Compared with the previous forecast at the beginning of the fiscal year, which was announced on May 8, 2013, the revision of operating income is mainly due to the drop in selling prices in the feed-use amino acids business resulting from a change in market prices. Other businesses are expected to be generally steady, with consumer foods in the overseas food products business exceeding the plan, but overall operating income is projected to be JPY 7.0 billion below the previous forecast. As a result, ordinary income is expected to be JPY 5.0 billion below the previous forecast, but efforts to improve asset efficiency and other measures are expected to limit the decrease in net income from the previous forecast to JPY 1.0 billion.

This forecast assumes an exchange rate of JPY 98.0 to USD 1 for the fiscal year.

Please note that the dividend forecast for the fiscal year, which was announced on May 8, 2013, is unchanged.

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 1,172.4 billion (USD 14.1 billion) in fiscal 2012. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.

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