Revisions to Consolidated Performance Forecast for the Fiscal Year
Ending March 31, 2014
TOKYO, February 14, 2014 - Based on recent performance trends and other factors, Ajinomoto Co., Inc. (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 November 6, 2013, as outlined in the following table.

1.
Revisions to the Consolidated Performance Forecast for the Fiscal Year Ending March 31, 2014
(April 1, 2013 - March 31, 2014)
(JPY millions; %)

 Net Sales Operating
Income		 Ordinary
Income		 Net Income Net Income
per Share
(Yen)
Previous forecast (A) 1,032,000 68,000 74,000 48,000 77.93
Revised forecast (B) 1,023,000 62,000 68,000 43,000 70.01※1
Amount of change (B-A) -9,000 -6,000 -6,000 -5,000 －
Percentage change (%) -0.9% -8.8% -8.1% -10.4% －
[Reference] Results for
the fiscal year ended
March 31, 2013		 984,967※2 71,232 77,167 48,373 74.35

Notes:
※1.As stated in "Notice of Decisions on Matters Related to Share Repurchase," which was disclosed today in a timely fashion, Ajinomoto Co. has resolved to repurchase its own shares. Net income per share has been calculated to reflect the repurchase of a portion of these shares.
※2.Net sales for the fiscal year ended March 31, 2013 shown in [Reference] above have been restated to reflect the change to the method of recording net sales for business tie-ups in the coffee and edible oils businesses as net sales minus cost of sales from the fiscal year ending March 31, 2014.

2. Reasons for the Revisions

The revision of operating income from the forecast announced on November 6, 2013 is primarily the result of factors including a longer-than-expected decline in selling prices of feed-use amino acids and a decline in sales volume due to a market downturn since the end of December 2013, the negative impact of the devaluation of the yen and a greater-than-anticipated increase in purchase prices for raw materials in frozen foods.
On the other hand, consumer foods in Overseas Food Products have been performing strongly, primarily in Asia, and Bioscience Products and Fine Chemicals businesses other than feed-use amino acids are progressing as planned.
As a result, net sales and each level of income are projected to fall short of the previous consolidated performance forecast for the fiscal year ending March 31, 2014.

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

Note:
The performance forecast above is based on information available to Ajinomoto Co. as of the date of this news release. Various factors could cause actual results to differ materially from the above forecast.

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

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